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Ukraine-Russia Crisis: LCCI Calls FG To Deploy Instrument Of Diplomacy To Well-Meaning World Leaders Towards Speedy Resolution

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…Commends FG Evacuation’s Effort Of Nigerians in Ukraine

The War between Ukraine and Russia will likely make the world’s hunger crisis even tougher to fight. The countries are two of the world’s major suppliers of staple grains like wheat.

A protracted crisis increases the likelihood of supply interruptions and higher food prices for many people including those who can least afford them. Nigeria’s food supply will surely come under some pressure as it imported 4% of wheat from Ukraine and 27% of wheat from Russia in 2021 according to Gallup News. Data from the National Bureau of Statistics shows that Russia was the sixth major exporter to Nigeria as of the third quarter of 2021 coming only after China, India, the USA, Netherlands, and Belgium in that order.

It is unclear how long the current disruptions in the food supply chain will last, even though it has already triggered higher wheat prices around the world. In developing economies including Nigeria, where populations already struggle to afford food, disruptions to food supply may result in substantial additional hardship and instability. Disruption of Ukrainian wheat supplies may prove doubly painful for countries already squeezed by food insecurity and rising food prices as we have in Nigeria. Ukraine was the second-largest supplier of wheat to the United Nation’s World Food Programme (WFP) in 2020 and 2021. Unable to procure wheat from Ukraine, the WFP will likely have to purchase the grain from other, more expensive sources and thus have less aid to provide to those at the greatest risk. This means that humanitarian assistance to developing countries will be disrupted at least in the short term.

The government at all levels, at this time, should open up their reserves (if there are any) to boost supply in order to stabilize prices at least in the short term. Alternatively, the government should intervene by way of initiating imports from other sources outside the war zones. However, the most sustainable solution is for the government to boost local production of these staples to levels that meet local demand. The world economy is already feeling the impact of the disruptions caused by the war on global supply chains. This is reflected in the rising local prices of petrol and diesel, as in the case of Nigeria where we depend on oil imports. Today, it is not just about the skyrocketing price of diesel which has risen above N700.00/litre, but that the product is now scarce and difficult to get.

While we commend the evacuation efforts so far made by the Federal Government, situation reports confirm that there are still stranded students in Ukraine and neighbouring countries whose fate of escape or survival is becoming uncertain by the day. We can only call for more efforts to speed up the evacuation of Nigerians from the war-torn region. Looking at the economics of these crises, Nigeria should have been a major harvester of opportunities from the war between Russia and Ukraine in areas like gas supplies to Europe where Russian oil and gas have been rejected as part of sanctions on Russian for invading Ukraine. Unfortunately, we do not have the infrastructure in place to produce enough gas for supply to Europe.

In preparing for the reality of our near future, we urge the Federal Government to take seriously the completion of projects like the Trans-Saharan Gas Pipeline, a planned natural gas pipeline from Nigeria to Algeria. With this, we can explore the opportunity of exporting gas to Europe. We should also target Trans-Saharan and European markets with the ongoing construction of the Ajaokuta, Kaduna, Kano Gas Pipeline, popularly known as AKK Gas Pipeline. Arising from the calamities of this war, Nigeria can explore emerging opportunities to earn huge foreign exchange inflow in the medium to long term.

We call on the Federal Government to deploy the instrument of diplomacy in reaching out to well-meaning world powers towards a speedy resolution of this crisis. The duration of this war is a critical variable in determining the extent of damage that may occur as a result of this war. Time is of the essence.

Secondly, we reiterate our earlier recommendation that refining our crude remains the most sustainable option especially when we consider the huge cost of subsidy on government finances. On refurbishing the refineries, the government should consider the joint venture model similar to the Nigeria Liquified Natural Gas (NLNG) model.

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Alliance For Youth Nigeria Equips Youth Across The Country For Employment

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Alliance For Youth Nigeria Equips Youth Across The Country For Employment

…Alliance for Youth Nigeria is investing in young Nigerians, equipping
them with the right skills, and information to thrive and succeed in the world of work – Uwadoka

Olushola Okunlade Writes 

Alliance for Youth Nigeria equips youth across the country for employment

Over 200 fresh graduates across Nigeria have received employability skills training facilitated by the Alliance for Youth Nigeria. The training comprised Building Winning Resumes, Career Positioning, Personal Brand Marketing, Personal Effectiveness, Time
Management, and Starting the Career Journey among others.

In addition, the best performers will benefit from internship and mentoring opportunities in the six companies that form part of the Alliance. At the end of the training, some participants of the training also had the unique opportunity of partaking in job interviews and placements, progressing on their career journeys.

Alliance For Youth Nigeria Equips Youth Across The Country For Employment
Left-Right: Mrs. Omomene Odike, CEO, U-Connect Human Resources Limited Edidiong Peters, Public Affairs Specialist, Nestlé Nigeria PLC Victoria Uwadoka, Corporate Communications, and Public Affairs Manager, Nestlé Nigeria PLC; Second Row Left-Right: Oyinlola Lawal, Youth Engagement Analyst, Jobberman Nigeria Damilola Odubanjo, Learning, and Development Associate, Jobberman Nigeria Olugbenga Alabi, Category and Marketing Manager, Coffee, Nestlé Nigeria PLC Uche Aso, Head, Learning and Development, U-Connect Human Resources Limited Lanre Coleman, Head, Recruitment and Outsourcing, U-Connect Human Resources Limited.
Alliance For Youth Nigeria Equips Youth Across The Country For Employment

Launched in August 2021, the Alliance is a business-driven movement of organizations passionate about working together to help young people around the country get the necessary skills to thrive in the world of work. Members of the Alliance for Youth Nigeria include Nestlé Nigeria, Jobberman Nigeria, Sterling One Foundation, Big Bottling Company, the United Nations Global Compact Network Nigeria, and U-Connect HR Limited, with Lagos State Employment Trust Fund and Activate Success International as partner organizations.

The member and partner organizations have positioned themselves to invest in joint and individual projects to give young Nigerians meaningful work experience, internships, readiness-for-work training, and mentoring opportunities in line with the United Nations Sustainable Development Goal 8 – to promote sustained, inclusive, and sustainable economic growth, full and productive employment, and decent work for all by 2030.

The employability skills training is one of the projects of the Alliance designed to meet the target of reaching more than 250,000 young Nigerians with employability and entrepreneurial skills to enable them to secure gainful employment or set up businesses of their own within 3 years. This objective, which was announced during the launch of the Alliance, is in line with their commitment to work together to address the challenges of youth unemployment in the country with the associated social and economic impact.

Alliance For Youth Nigeria Equips Youth Across The Country For Employment
Tosin Babasanya-Craig, Country Manager, Performance Fact Inc. facilitating one of the Alliance for Youth Nigeria sessions to equip youth across the country for employment.

Speaking at the opening session of the training, Victoria Uwadoka, Corporate Communications, and Public Affairs Manager, Nestlé Nigeria PLC said, “I am delighted that yet again, the Alliance for Youth Nigeria is investing in young Nigerians, equipping
them with the right skills and information to thrive and succeed in the world of work. At Nestlé, we believe that society cannot thrive if we fail to offer a future for the young generations. The Alliance will continue to work together with other stakeholders in line with the United Nations Sustainable Development Goal 8 in fulfilling the huge target we
have committed to and I encourage young people around the country to take advantage of the available opportunities”.

Also speaking at the training, Mrs. Omomene Odike, CEO U-Connect Human Resources Limited, congratulated the youth for their interest and dedication to achieving their career and business goals demonstrated by their participation in the training. She further highlighted the value-adding opportunity of job interviews and placements provided by her organization for participants of the training, urging them to take maximum advantage of the offer.

According to Innih Ikhide, Youth Engagement, and Learning Manager Jobberman Nigeria, “Jobberman is dedicated to creating increased pathways for young people to access dignified livelihoods for a better Nigeria”.

For Naomi Nwokolo, Executive Director, United Nations Global Compact Network Nigeria, “The active engagement of youth in sustainable development efforts is central to achieving sustainable, inclusive, and stable societies by the year 2030, and averting the worst threats and challenges to sustainable development, including the impacts of unemployment. The beneficiaries of the training have shown a willingness to improve their skills and attain professional development and are now more equipped for successful participation in job recruitment processes”.

On behalf of other participants, Adasa Okandiji, commended the member companies for the excellent upskilling platform provided to equip and better position young Nigerians for a productive career, now and in the future. She expressed her readiness and that of other participants, to fully utilize the value-adding information obtained in creating their desired future. She also called on youth across the country to be deliberate about seeking out and taking advantage of existing opportunities, particularly that provided by the Alliance.

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FBNHoldings Wins “Best Performing Stock And Best Stakeholders’ Communications Of The Year” At NIVA Awards 2022

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FBNHoldings Wins "Best Performing Stock And Best Stakeholders’ Communications Of The Year" At NIVA Awards 2022

…FBNHoldings Plc Wins NIVA Awards

Olushola Okunlade Writes

FBNHoldings Plc has won two awards, Best Performing Stock and Best Stakeholders’ Communications of the Year at the 2022 Nigerian Investor Value Awards (“NIVA”) which was held at Lagos Continental Hotel, Lagos last Saturday, May 14th, 2022.

According to the organizers, “Best Performing Stock and Best Stakeholders’ Communications of the Year Award” was conferred on FBN Holdings Plc for proven the resilience of its business model, and recovery capacity across all verticals it participates in, and strategic opportunism in new growth areas.

This award is in recognition of the indelible contributions of FBNHoldings Plc and its subsidiaries to the economic growth of Nigeria, throughout its 128 years of existence; representing all that is enviable about the financial services industry in Nigeria, reinventing itself to transform into a digital bank with sprawling footprints across the country and Africa.

FBNHoldings Wins "Best Performing Stock And Best Stakeholders’ Communications Of The Year" At NIVA Awards 2022
Left-Right: FBNHoldings Plc’s team at the event, Bode Oguntoke, Head, Internal Audit, FBNH, Opeyemi Okojie, Head, Strategy & Corporate Development, FBNH, Wale Ariyibi, Chief Financial Officer, FBNH receiving the award from Jude Chiemeka, Divisional Head, Capital Markets, Nigerian Exchange Limited, Ogho Okiti, MD/CEO BusinessDay Newspaper, and Simisola Salami, Team Lead, Communications & Shareholders Engagement, Investor Relations FBNHoldings Plc at the year 2022 Nigerian Investor Value Awards which held at Lagos Continental Hotel, Kofo Abayomi Street, Lagos last Saturday.

FBN Holdings Plc has been providing exceptional services to its customers, bringing mainstream banking to Nigeria’s 774 LGAs. Through its Agent Banking Platform, they empower people and transform lives. Its shareholders remain key to its success story and every day it strives to deliver quality returns on its investment whilst strengthening the fundamentals of the business through smart investment in technology, our people, and process. As a business, it also prioritizes Nigeria’s Economic, Social, and Governance practices to ensure the sustainability of the environment.”

The company has won many awards for its portfolio.

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Photo News: LIRS Meets FMCG, Gaming, And Multi-Level Marketing Sector On Deduction Of Withholding Tax On Commission

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Photo News: LIRS Meets FMCG, Gaming and Multi-level Marketing Sector on Deduction of Withholding Tax on Commission

Photo News: LIRS Meets FMCG, Gaming, and Multi-level Marketing Sector on Deduction of Withholding Tax on Commission

Olushola Okunlade Writes

Left-Right: Director, New Growth Areas, Mr. Olujimi Aina, Executive Chairman, LIRS, Mr. Ayodele Subair, Managing Director, O. M Associates, Mr. Olufemi Oguntade during a meeting on Deduction of Withholding Tax on Commission with Stakeholders within the FMCG, Gaming and Multi-level Marketing Sector held at Protea Hotel, Alausa, Ikeja on May 12, 2022.

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