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Showing posts with label growth. Show all posts
Showing posts with label growth. Show all posts

Saturday 27 October 2018

ENTERTAINMENT INDUSTRY KEY TO NIGERIA’S ECONOMIC GROWTH, OSINBAJO, AMBODE INSISTS



…As VP Holds Special Evening With Stakeholders In Lagos



Nigeria’s Vice President, Professor Yemi Osinbajo and Governor of Lagos State, Mr. Akinwunmi Ambode on Friday evening re-emphasised the importance of the entertainment industry to Nigeria’s economic growth, assuring that the sector would continue to enjoy support to maximize its potentials.



The duo spoke at an event organised for entertainers and tagged “An Evening with the Vice President” held at the Eko Hotels and Suites, Victoria Island and was well attended by scores of entertainers including actors, comedians and musicians, among others.



Osinbajo reassured stakeholders in the entertainment industry of the Federal Government’s commitment to support them to enhance national growth and development, adding that they remain key players in the nation’s all round development and Government was not oblivious of it.



The Vice President said he had met frequently with entertainers with a view to developing policies around the industry for economy growth, revealing that the government decided to create Technology and Creativity Advisory Council to see how the government could move the industry forward through proper policies, especially on how to address the issue of piracy.

“No sensible politician can ignore entertainers; if you do, you do so at your own risk. Entertainers also cannot ignore politicians; it is impossible. If you do, you do so at your own peril.



“Already, there is a lot going on. Your industry has to respond to what is going on. This industry is important and crucial to our economy.



“We must set up the environment that will make it happen. No environment is completely ready; whatever it is that we have at the moment, we have to make the maximum use of it to grow this industry,” he said.



He said it was gratifying that some entertainers were already in politics and urged others to participate, in order to make a change and a difference.



“Your support is actually important. What we need to do is to sit together and solve the problem. The country is what it is today because some people stole the treasure,” he said.



In his remarks, Governor Ambode said the State had always been the hub for entertainers and would continue to support the industry to grow the State’s Gross Domestic Product (GDP).



He also called for synergy between the Government and entertainers in order to create a convergence to grow the economy of not just the State, but also Nigeria.



“I just want to promise this time around that whatever it is that we have done as a government in the last three and half years, we have proven that the arts and entertainment industry can actually create a convergence with the culture of the city and then promote tourism using that convergence to grow the economy of Lagos and we have proven that.



“So, beyond our action there are other things that have to do with the framework, the things that have to do with copyright and access to capital to promote the entertainment industry and I hope that within the next one hour, we should be able to tell ourselves the truth on which way we can actually push this synergy to create that grows the GDP, not only of Lagos but the GDP of the whole country and we would be able to attract tourists to this country,” Governor Ambode said.

Also speaking, Sen. Goodwill Akpabio, who promised to support the industry as he had also been, assured the entertainers of government’s readiness to help them on issues of legislation.



Akpabio, who noted that the artistes were ambassadors of the country, urged them to promote Nigeria’s oneness.



Many of the artistes, who spoke at the event, identified the challenges in the industry as piracy, distribution of artistic works, poor power supply, lack of infrastructure, censorship, licensing, and access to credit facilities, among others.



Thursday 5 July 2018

AMBODE GIVES N500M GRANT TO 275 COMMUNITY ASSOCIATIONS TO COMPLETE PROJECTS



…Gesture Unprecedented In Nigeria, Says Lagos APC Chairman


AgegePulse Magazine

Lagos State Governor, Mr. Akinwunmi Ambode on Thursday doled out N500million as grant to 275 Community Development Associations (CDAs) to enable them complete their ongoing self help projects.



Governor Ambode, who presented the grant to the CDAs at De Blue Roof, LTV, Agidingbi, said it was not in doubt that the various self help projects, ranging from community halls, street light, transformers, police post, drainage and health centres by these communities were complementing the efforts of the State and Local Government to engender growth and development.



He said his administration was totally committed to supporting CDAs in the initiation and implementation of community based development projects, adding that apart from being in line with his administration’s policy of inclusive governance, such approach would guarantee ownership of such projects by the communities.



“These projects have contributed immensely to make our communities to be more liveable for residents. I must commend all of you for the various projects you have initiated and funded from your voluntary levies and donations by members.



“I thank all of you for appreciating the fact that voluntary community effort is required to facilitate growth and development,” Governor Ambode said.



He said the decision to aid the CDAs with grant was based on the report gathered from monitoring of some of the ongoing community projects, which showed that some of the projects were on the verge of being abandoned due to paucity of funds, noting that the gesture was therefore compelling.



“Today’s occasion is historic; we are presenting financial support of N500million Grant to 275 Community Development Associations to enable them complete their various self-help projects which had been executed to an appreciable level. Let me emphasise that this will be a continuous exercise. Other deserving Community Development Associations will also be considered in the next phase of this presentation,” the Governor said.



Alluding to the fact that the gesture was the first of its kind in the State, Governor Ambode said that beyond the 275 projects being supported, all the divisions of the State have been covered.



“The message remains the same.  We are committed to good governance and inclusive leadership.  We know your efforts remain selfless to all your communities.  We are partners in governance and we will always support you.



“I congratulate the leadership and members of the CDAs that are benefitting from this support initiative. It is my expectation that all the self-help projects covered by this grant will be completed as soon as possible for the usage and benefit of residents,” he said.



The Governor also charged residents in the communities to take ownership of the projects and protect them against vandalisation and all acts that would result in the reduction of the life span of the facilities.



Earlier, State Chairman of the All Progressives Congress (APC), Alhaji Tunde Balogun, in his remarks, described the gesture by Governor as unprecedented in the history of Nigeria, urging community leaders and residents to make judicious use of the projects as well as prudent spending of the grants.



“What is happening today is the presentation of grants to 275 CDAs across the State. It is very awesome and unprecedented. This is the first time I’ve ever heard of such. It is unprecedented in the history of Nigeria. Please take ownership of the projects and ensure durability in your locality. This government had been constructing roads, bridges, and different projects across the states. We thank God for using Governor Ambode to change the face of Lagos for good”.



On his part, Commissioner Local Government and Community Affairs, Hon Muslim Folami, said the all inclusive governance mantra of the Governor Ambode administration had seen the increase of CDAs in the State from 2012 in 2015 to 3935 in the last three years.



Also speaking, Special Adviser to the Governor on Communities and Communications, Hon. Akeem Sulaimon, reiterated the present administration’s commitment to articulate the concept of inclusive governance, whereby all government policies, projects and programmes would be driven by the needs of various communities.



In his goodwill message, Patron General of CDAs in the State and APC Chieftain, Cardinal James Odumbaku urged the CDAs to reciprocate the gesture by the Governor at the 2019 elections in the State.



Some of the communities that benefitted from the grant include Olera CDA, Ojokoro; Anifowoshe CDA, Ikeja; Onibaba CDA, Ajeromi Ifelodun; Ogoitan Phase I CDA, Epe; Ifelodun Surulere CDA, Olorunda; Ofiran Phase 1 CDA, Ibeju Lekki; Equitable Estate CDA, Igbogbo Baiyeku; Anuoluwapo CDA, Ojota, among others.


Monday 11 December 2017

Nigeria must create 4 million jobs annually to ensure growth - Ambode


…Asks CBN to reduce lending rate on N200bn MSME fund

Lagos State Governor, Mr Akinwunmi Ambode on Saturday said for Nigeria to meet its growth ambitions and achieve full economic potential, concerted efforts must be made to create at least four million jobs annually and as well jettison policies that stifle development.





Speaking at the opening session of the 9th Annual Bankers’ Committee Retreat of the Central Bank of Nigeria (CBN) held at Renaissance Hotel in Ikeja, Lagos, Governor Ambode said it was time for the government to review such policies that inhibit growth, and as well come up with a well-functioning low cost financial system that will work for all Nigerians.

While describing the theme of the retreat – “Improving Financial Access, Enabling Job Creation and Driving Inclusive Growth in Nigeria,” as apt, the Governor said same was at the heart of the nation’s economy and are important determinants of the country’s future prosperity, but that all hands must be on deck to create more jobs for the people and ensure 6.7 per cent annual growth rate.

He said: “To meet our growth ambitions we need jobs. Figures from the National Bureau of Statistics show that in employment terms, from a labour force population of about 81million people, we currently have 11.5million people unemployed in Nigeria and 17million people under-employed with the total employment is around 52.6million while the working age population grows by 3.7 per cent every year. So, to make a meaningful dent on un-employment and underemployment, and to reduce poverty (which is at over 60 per cent), we need to be creating at least four million jobs per year.

“Where do banks fit into all of this? Well, the reality is if we do not have a well-functioning banking sector, all of this is not possible. Both investment and day-to-day commerce requires the intermediation of banks. And while someone outside of the formal financial sector can in some cases make a living, the reality is that incomes of the bottom of the pyramid are increased when we have better financial inclusion but we are not there yet.”

The Governor, who particularly alluded to the strategy adopted in Kenya to deepen financial inclusion, said efforts must be made to ensure low cost access to banking services especially through mobile money.

He said it was painful that mobile money had been so slow to take off in Nigeria despite huge population, saying it remained very low, increasing from just 0.7million adults in 2014 to 0.9million in 2016, despite the fact that there were about 58.2million people who actually had mobile phones in 2016.

Besides, Governor Ambode challenged the CBN, the Nigeria Deposit Insurance Commission (NDIC), commercial banks and other players in the financial system to decide the type of financial system that will really impact on employment and bring more people into the formal financial system.

According to him, “This is where we should focus as a nation not the type of directives or decisions that actually try to stifle growth and commerce. One clear example is this; as a State Government, I want to take a commercial loan from the bank and they tell me I should go and get a letter from Debt Management Office (DMO); I should get approval from the Federal Ministry of Finance; I should go to CBN and so on. Who does that?

“You want to accelerate growth and everything that I am doing even when I take loan from the bank; when I do bond and so on, I am only trying to reflate the economy. Each construction site that you see in Lagos, I am trying to create employment at the lower level so that the artisans, the bricklayers and so on can go home with N5,000. I need to do something in Badagry to make the people stay there and not come to the central Lagos and when you take the extra money outside the IGR, you are actually trying to help the economy to reflate itself and that is why you are able to excite yourself with the growth that you have seen in the third quarter that we say is 1.5 but that is not the number that we want.

“So sometimes, government seems to shoot itself in the leg. Why should Lagos State go and be meeting DMO to say I want to take a commercial loan when 80 per cent of my IGR can pay the loan itself back? So, you see that there is some sense of homogeneity in the policies that we make but sometimes they are not really flexible and you end up coming back to say we want to create jobs but the things that create jobs are the things that we are actually working against and you create unnecessary competition in the system.”

Responding to earlier comment by the CBN Governor, Mr Godwin Emefiele on the inability of the Micro Small and Medium Scale Enterprises (MSMEs) to access the N200billion fund earmarked for them, Governor Ambode said the easiest way to achieve same was to reduce the lending rate to about five per cent or lower.

He said at the State level, his administration created the Employment Trust Fund through which about N10billion had been disbursed to the MSMEs at five per cent with over 6,000 benefiting so far, saying the CBN could replicate such at the federal level for the overall benefit of the people and the system.

Sunday 19 November 2017

Today's Headlines

*AgegePulse * .. The mouthpiece of Agege/Orile Agege
Headlines Today* [Mon-20-Nov-2017]*

Lagos to get 24/7 power supply in 2018 Ambode

Lagos Speaker, Obasa, Other Dignitaries Felicitate with Alake of Egbaland on his 12th Coronation Anniversary.

Lagos APC leaders urge members to embrace unity

Residents of Orile want Hon. JS Babatunde to fix Amoo Road

Orile-Agege LCDA gets infrastructural boost

Fire guts Ayobo Garage, Agege.. As Egunjobi visits scene to console victims

Agege Hip Hop Stars, Small Doctor, Junior Boy, MC SureBoy, others show love to fans

RenewElephant Cup: Sarafina FC first to qualify for Q/Final

LASG seeks cooperation, promises to compensate property owners


*Punch Newspaper*

PDP chair: Fayose seeks shadow election for S'West aspirants


Lamidos group dismisses Buharis govt as disaster

Prof. Olunloyo dies at 74

FG has abandoned Bayelsa, says Dickson

PDP, Buhari congratulate Jonathan at 60

Defiant Mugabe says hell preside over party congress in Dec

Obaze rejects Obianos victory in Anambra governorship poll

BVN: Banks frustrating anti-corruption war, FG, AGF tell court


LASG seeks cooperation, promises to compensate property owners

FG hails global endorsement of Nigerias anti-terrorism fight

Lions Club, friends raise funds for Olusola Dada Dialysis Centre

Ogun monarch laments attacks by herdsmen

French police officer kills three before committing suicide

Wasteful oil search in the North


Southern senators to hold confab on restructuring

Anambra defeat: Makarfi brought ill-luck to PDP, says Kashamu


*Vanguard Newspaper*
Buhari, APC felicitate with Jonathan at 60

PDP chairmanship: Fayose calls for shadow election among S-West aspirants

Human trafficking, Illegal migration, threat to national security ' Saraki

Anambra election: Obaze rejects results as INEC declares Obiano winner

SSANU raps FG's stance on workers'welfare

Delta LG polls: PDP flags off campaign

How we uncovered 40 illegal refineries in Edo, by CP Kokumo

IVF, solution to infertility problems 'Oyetunji

CDS warns new naval ratings against support for secession

Why Africa must copy China's industrialisation drive by IGU

NGO hails Anambrarians, police, others on violence free poll

Save Imo courts from total collapse ' Chief Judge

Nigeria exports $9.7m, earns N69bn from solid minerals ' NEITI

Apapa gridlock worsens, Ambode's taskforce yet to take off

AWARD: Ambode accepts Transparency Nigeria's nomination

The only way N-Delta can enjoy its oil wealth is to join APC ' Ojougboh

Why I didn't implement 2014 Confab report ' Jonathan

2018: Joining APC is like leaving Jesus Christ for satan ' Fayose


*The Nation Newspaper*
BVN: Govt accuses CBN, banks of shielding rogues

Mugabe adamant

Wife stabs son of ex-PDP chair Bello to death over text messages

Obiano re-elected Anambra governor

Fayose: aspirants for chairman must unite

Aisha Buhari honoured in Morocco

Woman in court for alleged stealing fraud

Boy jailed for defiling minor

My husband tied me to tree

Agent in trouble

ASUP strike shutdown Delta polytechnics

CFAO inaugurates assembly plant

Equities lose N144b as investors await CBN decisions

Unsafe executive acts on the roads

Govt needs to address harmful regulations to enhance growth

Tranex N238.6m rights issue records 90.5% subscription

Kia begins healthcare centre's renovation

NNPC: crude-for-product arrangement on course


*Thisday Newspaper*
APGA's Victory Maintains NationalBalance of Power Ahead of 2019

As MPC Meets, Marginal Drop in Inflation May Delay Interest Rate Cut

Mugabe Refuses to Resign, Risks Impeachment

Why I Didn't Implement 2014 Confab Report

Buhari, PDP Congratulate Jonathan at 60

Ex-PDP National Chairman's Son, Allegedly Stabbed to Death By Wife

Ibrahim: Governance Remains Poor in Africa

SERAP, Pensioners Seek ECOWAS Court Intervention over Unpaid Pensions, Salaries

Lagos to Concession 10-Lane Okokomaiko-Seme Border Road Project

Glo, Airtel, Dangote, Seven Others Advance to Final Stage in 9mobile...

Afrinvest Launches Affordable Investment Option for Nigeria

Aregbesolas Senatorial Aspiration Tears Lagos APC Apart

Kwara LG Poll: Protest Trails Election Outcome

PDP in Dire Straits

Buharis Silent Support for the South-east

Yakubu Gowon in Retrospect

Quadri, Adekuoroye Dominate 2017 Nigerian Sports Award

MTN Sponsors First-of-its-Kind Kiddies Mini-marathon

Tuesday 31 October 2017

Queen of Netherlands visits Ambode, lauds LASG’s Health Policy

AgegePulse Magazine

…Lagos Health Insurance Scheme To Kick Off Early 2018, Says Gov

Queen of Netherlands, Her Majesty, Maxima Zorreguieta Cerruti on Tuesday paid a courtesy visit to the Lagos State Governor, Mr Akinwunmi Ambode as part of efforts to advance the United Nation’s financial inclusion advocacy as a vehicle to alleviate poverty and fostering equitable economic growth in Nigeria.





Queen Maxima, who was visiting Nigeria for the first time in the last five years, in her capacity as the Special Advocate to United Nations’ Secretary General on financial inclusion for development, said she was impressed by the initiatives of the State Government to improve service delivery especially towards expanding access to affordable healthcare.

While noting that it was important for governments to prioritize access to affordable healthcare, Queen Maxima particularly lauded the health insurance scheme of the State Government, which legal framework had already been put in place, saying that Governor Ambode deserved commendation for coming up with such laudable effort.

She said: “Today I had opportunity to visit two clinics in the State where I saw the new pilot project in which you (Governor Ambode) has also started looking into which is to make health insurance possible even to the poorest of the people.

“I was very impressed by the leadership that the State of Lagos has taken as to coming up with a law which makes health insurance mandatory and also to able to plan for the future and you are already doing some credit to some health facilities which off course will improve efficiency of a lot of these institutions. I commend you for your efforts and I will like to know from you Mr Governor what is your commitment on the future in this field,” she said.      

Responding, Governor Ambode said the Health Insurance Scheme of the State Government aimed at expanding access and scaling up healthcare delivery in the State will commence in early 2018.

He said the legal framework to guide the implementation of the policy had already been put in place, while every necessary efforts to ensure the success of the scheme were being put in place.

Governor Ambode, who received Queen Maxima alongside his wife, Mrs Bolanle Ambode and other top officials of the State, commended the visitor for her efforts at advancing issues relating to healthcare and financial inclusion.

Speaking on the health insurance policy of the State Government, the Governor said: “We are on the path of positive improvement on the things that have to do with health. Like the Queen rightly said, we have a law that allows us to do the Health Insurance Scheme which is targeted at the most-needy and the poor that cannot afford ordinary healthcare. We believe that if we pull the resources of every other person in the State together, those that cannot afford will be able to have a chance to access healthcare which is the main objective why the Queen has been going round to promote good healthcare for people generally.

“We want to say that we are deeply committed to that vision and we are committed to that ideals and also say that we will do everything possible to make sure that the Health Insurance Scheme starts up early next year and we can now allow people to have some sense of inclusion which is one of the basic principles of good governance.

“The main essence of good governance is for us to be able to carry everybody along. In a cosmopolitan city like Lagos that we have population of almost 22million people and the majority can really not afford the things we want them to, and so we believe strongly that a partnership like this is one in the right direction.”

On financial inclusion, Governor Ambode said the informal sector accounted for about 80 per cent of Lagos population, a development he said prompted his administration to set up N25billion Employment Trust Fund (ETF) to serve as an instrument to grant members of the sector access to finance.

Besides, Governor Ambode said it was time to call on the Federal Government to scale up financial inclusion with the view to expanding access for more people to benefit, while also calling for escalation of mobile banking to ensure that more people from the rural areas have access to finance and all issues connected.

While drawing the similarities between Lagos and Netherlands, Governor Ambode said the State, being a cosmopolitan city, is striving as much as possible to ensure that every resident is comforted with hope of great future.

He said the present administration in the State under him was also working hard to bequeath functional and affordable healthcare system to the people of the State, just as he assured that the State Government would do everything possible to support the United Nations initiative being championed by Queen Maxima.