Business and Economy
NEPC to Setup Cashew Processing Plant in Ogbomosho
The Nigerian Export Promotion Council (NEPC) says it has finalised plans to establish a cashew processing plant in Ogbomosho, Oyo State.
The Executive Director of NEPC, Dr Ezra Yakusak, said this on Monday in Abuja at the presentation of the first half-year progress report on the non-oil export performance for 2023. js">
Yakusak said that the development was in line with the council’s mandate and efforts to strengthen its value-addition campaign.
“NEPC under its export development programme for priority products has concluded plans for the establishment of a cashew processing plant in Ogbomosho, Oyo State on a Public Private Partnership (PPP) arrangement,’’ he said.
According to Yakusak, this is predicated on the fact that Ogbomosho cashew is globally acknowledged as a brand for good quality and thereby highly sought after in the international market.
“We have since commenced processes towards setting up the processing plant,” he added.
On the inclusion of export promotion in the curriculum of Nigerian universities, Yakusak said that a Memorandum of Understanding (MoU) would soon be signed between NEPC and the National Universities Commission (NUC).
The NEPC boss said that the course when introduced would go a long way in enabling undergraduates to become employers of labour and be self-reliant after graduation.
“This initiative will further complement the efforts of NEPC at promoting the “Export4Survival Campaign’’ which is targeted at increasing the export of Nigeria’s non-oil products,” he said.
Pursuant to the Council’s commitment to ensure Nigerian products have easy access to international markets, he said that NEPC inaugurated an Export Trade House (ETH) in Hunan Province, China in April 19, 2023.
According to Yakusak, this is part of NEPC’s efforts to increase the export of Made-in-Nigeria products to China.
He said: “The establishment of the ETH is a collaborative effort between the NEPC and Zeenab Foods Limited under a Public-Private-Partnership arrangement.
“With the opening of the China ETH, the Council has launched and operationalised a total number of four ETHs which are located in Cairo, Egypt, Lome in Togo, Nairobi in Kenya and China.
“Plans are underway to establish another ETH in Dubai, United Arab Emirates (UAE)”.
Yakusak said that NEPC has ensured the disbursement of N308.45billion promissory notes to 199 exporting companies.
“Following the approval of the Federal Government, the disbursement to 199 exporting companies under the Export Expansion Grant (EEG) Scheme has since been completed,’’ Yakusak said.
He said that Nigeria’s non-oil exports in the first half of 2023 generated 2.539 billion dollars as against 2.593 billion dollars for the corresponding period of 2022.
“From these figures, it is apparent that a slight decrease of 0.09 per cent was recorded in the period under review.
“The sector recorded a dip in value of export in the first half-year of 2023 due to the general elections and changes in global economic conditions,’’ Yakusak said.
NAN
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Business and Economy
Kogi GOBO Initiative Empowers Petty Traders in Kabba Central Market, Reinforces Support for Governor Ododo
By Abah Benjamin Eneojoh
The Kogi Forum of Senior Special Assistants (KFSSA) and leaders of the Governor Ododo Business Outreach (GOBO) today 22-11-2024 visited Kabba Central Market to empower local traders and engage community leaders.
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Led by Hon. Yahaya Shehu Ahmed, Chairman and Director General of GOBO, the delegation began their activities with a courtesy visit to the palace of His Royal Majesty, Oba Solomon Dele Owoniyi. The traditional ruler commended the initiative and the foresight of Governor Ahmed Usman Ododo in appointing competent individuals dedicated to improving the lives of citizens.
The team then visited the official residence of the Executive Chairman of Kabba-Bunu Local Government Area, Hon. (Barr.) Zacchaeus Dare Michael. He expressed his appreciation for the efforts of KFSSA and GOBO, noting that the outreach was a commendable step toward bridging the gap between government appointees and the grassroots.
At Kabba Central Market, the GOBO team provided direct financial support to 20 petty traders, including sellers of berneseed, tomatoes, and roasted plantains. Each beneficiary received 50,000 naira to expand their businesses. The gesture aimed to improve the economic situation of the traders and inspire confidence in the government’s dedication to addressing the needs of ordinary citizens.
The initiative also included plans to monitor the progress of the beneficiaries, ensuring that the financial assistance achieves its intended purpose. Hon. Femi Esemikose and Hon. Augustine Egbebi were tasked with following up on the traders’ activities.
The success of the Kabba-Bunu outreach is expected to serve as a model for similar initiatives in other parts of Kogi West Senatorial District and the state. As the GOBO program continues to expand, more communities will benefit from its efforts to empower individuals and enhance economic development.
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Business and Economy
Naira appreciates N28.85 against dollar at official market
The Naira on Thursday, November 21st, 2024 appreciated at the official market trading at N1,658.67 against the dollar.
Data from the official trading platform of the FMDQ Exchange, revealed that the Naira gained N28.
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This represents a 1.7 per cent gain, compared to the previous trading date on Wednesday when it exchanged at N1,687.52 to a dollar.
However, the total daily turnover reduced to 163.66 million dollars on Thursday, down from to 173.29 million dollars recorded on Wednesday.
At the Investor’s and Exporter’s (I&E) window, the Naira traded between N1,707.50 and N1,631.00 against the dollar.
Source: NAN
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Business and Economy
Governor Ododo Endorses GOBO Initiative, Empowering Small-Scale Entrepreneurs and Vulnerable Populations
By Abah Benjamin Eneojoh
The Executive Governor of Kogi State, His Excellency Alh Ahmed Usman Ododo has thrown his weight behind the Governor Ododo Business Outreach (GOBO) initiative, a program aimed at uplifting marginalized groups and providing economic opportunities at the community level.
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During a strategic meeting with the Kogi State Forum of Senior Special Assistants in his office on 06-11-2024, the Governor expressed his support for GOBO, which aligns with his vision of inclusive governance.
Launched on October 31, 2024, GOBO has already shown positive impact, with increased visibility and support among petty traders and small businesses. The initiative provides sustainable business avenues for those previously lacking access to financial resources and market opportunities.
Hon. Yahaya Shehu Ahmed, Chairman of the Kogi State Forum of Senior Special Assistants, thanked the Governor for his encouragement and support.
The Governor commended the forum’s dedication to GOBO and its commitment to improving citizens’ quality of life, assuring continued support and encouraging ways to deepen GOBO’s impact across the state.
The forum also presented an award of excellence to former Governor Alhaji Yahaya Adoza Bello, recognizing his contributions to the state’s growth and effective governance , particularly the choice of Gov Ododo and his Deputy.
This development is consistent with research highlighting the importance of government support for entrepreneurship development in Kogi State.
Shehu noted that Small and medium-scale enterprises have significantly contributed to the state’s economic growth, stressing that the GOBO initiative demonstrates the power of grassroots-driven solutions and inclusive growth, marking a step towards sustainable development in Kogi State.
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