Enugu Tech

Enugu Tech. Program Registration.

Do you know there is a 15% increase in the demand for employees with the technological skills, especially programmers, product designers and data analysts in 2021?


To help you stand out in the tech and entrepreneurial market,
@enugusmeagency in partnership with a leading Nigerian EduTech @Utiva has put together a program under the Human Capital Development Loan (HCDL) program called ‘Enugu Tech Program’, to teach Ndi-Enugu youths key technological skills in product design(UI/UX) and programming which will surely make you the most wanted employee in today’s job market.

To get started, register here: enugutech.com

Or come to the office at No.2 Market Garden Avenue by SME Roundabout, opposite Ebaeno Tunnel, for manual your registration.

Don’t miss this opportunity to rewrite your life’s story!!

See you in class soon!






READ ALSO: Nigeria gasps for new LNG investments.

  1. What is the Enugu Tech Skill Program About?
    Enugu Tech® Program (www.enugutech.com) is a public-private partnership project developed and designed to train and provide a path to new jobs to about 50,000 young people in Enugu state. Successful beneficiaries will have the opportunity to learn either Product Design or Programming (UI/UX) with respect to your application and choice of program, the program will help you transition to new job roles and/or upscale in your already job role.
  2. How is the Enugu Tech Skill Program Structured?
    The training program under Enugu Tech are done virtually and remotely. The Product Design class is a one (1) month learning program. You would have the opportunity to learn on your own through the “dongle” (REQUIRES NO INTERNET) we would give you and also learn the online live classes that only run on weekends (Saturday and Sunday)
    Kindly note that the Enugu SME Center would provide a location for the weekend virtual session with internet. These locations would be notified to participants that finalize the process. It would be based on the “address of the successful applicant” and not “LGA of origin”.
    The Programming (Web and App Development) class runs for two (2) months. The classes are on weekends Fridays, Saturdays, Sundays and you would be provided with a “dongle” (REQUIRES NO INTERNET) which helps you to access the contents and self- study. Though it is online classes, it is 100% instructor led and you get all class recordings for recaps
  3. What level of complexity is the training? Is it for beginners
    Both training program are modular programs that can take anyone from a novice capacity to a professional capacity. Remember the content WILL ALWAYS be with you for continuous learning
  4. What if I live outside Enugu State
    There is no problem, you can still participate in the Program
  5. How much is the Enugu Tech Program
    Each program is priced at N20,000 (Twenty Thousand Naira Only). This has been subsidized heavily by the Enugu SME Center from the original price of N250,000 (Two Hundred and Fifty Thousand Naira Only). Each selected applicant (1,500) under the Enugu Tech® Program was out 5,000 plus applicants. This selection enables you to access Human Capital Development Loan (HCDL) to access the training Program. The HCDL is an innovative ZERO INTEREST loan program that is intended SOLELY to provide training to Ndi-Enugu on technical and non-technical capacities.
    For the Enugu Tech® Program is in partnership with private sector Edu-Tech leader called “Utiva” (www.utiva.io). Successful applicant can access HCDL Loan from The Enugu SME Agency, to be repaid after four (4) months (after the training)
  6. What is the interest rate of this Loan for the Enugu Tech Skill Training Program?
    The Loan for the Training Program is INTEREST FREE/ ZERO INTEREST

7. What are the requirements to access the Human Capital development Loan (HCDL) for Enugu Tech® Program
The successful applicants would be mandated to bring the following:
▪ Nationally Recognized Identification of the Applicant and Three(3) passport photograph
▪ Guarantor from the following areas:
○ Private Sector Individual- Businessman/Businesswoman, entrepreneur, private sector employee
○ Public Servant (Federal Government MDA, State Government from Executive Assistant-Honorable Commissioner)- retired within two (2) years also acceptable
○ Civil Servant from Level 6-Permanent Secretary- retired within two (2) years also acceptable.
▪ Requirements of the Guarantor:
○ Nationally Recognized Identification of the Applicant and two(2) passport photographs
○ Undated Cheque from CBN recognized Commercial Bank or Microfinance Bank- Kindly note that the Microfinance Bank’s cheque MUST be able
“go for clearing” and payable over the counter of other banks. Kindly note that NOT ALL microfinance bank’s cheque can clear over the counter. If you are going to use a Microfinance Bank kindly inquire if it can “go for clearing”
○ The guarantor would be expected to co-sign with the successful Enugu Tech Skill Applicant and is also expected to be physically sighted by the Agency to prevent any case of false claims, forgery of documentation and signature etc.
○ Guarantor can be from anywhere in Nigeria (within or outside Enugu) but
must make himself/herself available for sighting
○ Guarantee cheque cannot be a joint or corporate account

  1. What if I cannot find a Guarantor, can I Guarantee myself?
    YES, you can guarantee yourself and still access the Human Capital Development Loan. Just provide all the requirements of the “Guarantor” as detailed above in No.7 above.
    If you are guaranteeing yourself, kindly bring a three (3) or six (6) months Bank Account Statement (either current or savings account)
  2. What if I want to guarantee myself but I don’t have a cheque book
    Just request for a cheque book from the Bank (current account holder). This takes seven (7) working days FREQUENTLY ASKED QUESTIONS (FAQS) UNDER THE ENUGU TECH® PROGRAM
    If you are guaranteeing yourself, kindly bring a three (3) or six (6) months Bank Account Statement (either current or savings account)
  3. What if I want to guarantee myself but only have a savings account
    Request for a current account from your Bank. If the Bank request that you require an account reference, kindly come to the Enugu SME Center if you cannot find a referee.
    If you are guaranteeing yourself, kindly bring a three (3) or six (6) months Bank Account Statement (either current or savings account)
  4. What if I cannot get a guarantor, neither can I guarantee myself (because I don’t have a chequebook or it is “long” or “tedious” etc) but I can pay for the Enugu Tech® Program upfront?
    Kindly notify us by sending an email to enugutech@utiva.io copying info@enugusme.ng with your “(Full Name)- Enugu Tech Applicant Paying Directly as the “Email Title”. The Bank Account details will be communicated to you. You can also come to the Enugu SME Center to retrieve the account details. Once paid, kindly scan the Payment Teller” to enugutech@utiva.io copying info@enugusme.ng with your “(Full Name)- Enugu Tech Applicant Paying Directly as the “Email Title”. You can also come to the Agency to bring a copy of the Payment Teller
  5. Why do we need a cheque (guarantor or self-guarantee) as collateral to access the Human Capital Development Loan (HCDL)
    These is the least invasive collateral instrument for a loan acceptable by the Central Bank of Nigeria.
  6. Why isn’t this a grant? Why isn’t this free?
    Unfortunately, the Enugu SME Center is the developmental finance institution for Enugu State. It provides concessionary loans Micro, Small and Medium Enterprises (MSMEs) in Enugu State amongst other primary function. Seeing as Human Capital is the most important sector, the Enugu SME Center has created a loan program tailored strictly for Human Capital Development. Remember loan can be intended for anything, just like how they are loans for only women or loans for agricultural sector etc.
    The Agency has also ensured that these loans are ZERO INTEREST and has worked extensively with private sector to further subsidize the original training cost of N250,000 (Two Hundred and Fifty Thousand Naira Only) to the current N20,000 (Twenty Thousand Naira )
  7. Where can I find grants
    Ministry of Human Development and Poverty Alleviation, Enugu State Scholarship Board etc
  8. Would I be required to attend all training sessions?
    Remember that as detailed in “No. 2”, is a combination of remote and virtual learning. You would be required to complete coursework. Failure to do so would lead to you “defaulting on the loan”. If you paid upfront, the funds shall not be refunded. You
    need to take this seriously.

16. Can an individual who is currently employed also engage in the Training program?
YES. The Program is flexible enough for everyone

  1. If I am still in school, and COVID-19 restrictions are lifted and school resumes.
    What happens?

    YES. The Program is flexible enough for everyone.
  2. How will the job placement work?
    We will onboard all the learners that successfully completed the learning program on the Utiva Job Bank. On that platform, you will get the opportunity to meet employers that are hiring for full time roles, part time, freelancers (gig economy) and also companies that are building products. The job platform will give success and determined applicants the opportunity to review employment opportunities and projects requirements and choose which works for you. The more projects you complete successfully, the more opportunities the technology platform routes to
  3. What if I decide to not continue the Enugu Tech Skill Program, what will happen?If you have successfully passed the rigorous selection phase and chosen for the first cohort and you drop out of the program, it would have been determined you have DEFAULTED on the Enugu Tech Skill Training and the default terms would kick in as detailed in the Offer Letter, which would include calling on the collateral (the cheque of the guarantor/or applicant). If you paid for the Enugu Tech Skill Program upfront, it shall not be refunded.
  4. Do I need a laptop for this program?
    Yes! You do need a laptop to participate in the program as discussed in during the orientation session
  5. Once we have met all the requirements, where and when should we come to complete our documentation, with our guarantor?
    Successful applicants will be onboarding into Whatsapp Platforms from Thursday 27th August 2020- Monday 7th September 2020. This is to carry everyone along on the
    program dynamics amongst other things regarding orientation.

Documentation signing will commence from Monday 7th September 2020- Monday, 21st September 2020

READ ALSO: Investing during recession.

If sending your 24hrs notification by email, send to info@enugusme.ng or enugutech@utiva.io. You can call us on +2348089344768; +2348084998224;
+2349042439495. Ensure you write your name and “Enugu Tech Applicant” as the subject heading of the email.

Kindly follow us on @enugusmeagency on Instagram, Twitter and LinkedIn. Enugu State SME Agency on Facebook


LNG vessel

Nigeria gasps for new LNG investments.

Stakeholders have urged the Federal Government and others to invest more in the Liquefied Natural Gas, LNG, as it becomes obvious that other nations have left the nation behind with its 22 million tonnes, MT, yearly capacity.

Investigation by Energy Vanguard showed that this is based on the awareness that the expansion of the nation’s output to 30MT yearly through the ongoing Train 7 would not make much difference in the global ranking of Nigeria.

READ ALSO: Loans: Why its difficult for SMEs to get from  banks.

Available data showed that Australia, Qatar and Malaysia are currently the world’s top three exporters with 77.5MT, 77.MT and 24MT respectively.

These are followed by Nigeria, Indonesia and Algeria, with 22MT, 16.6MT and 11.5MT respectively. The nations are further followed by Russia, Trinidad & Tobago, Oman and Papua New Guinea with 10.8MT, 10MT, 8.1MT, and 7.1MT respectively.

However, in its presentation at the just-concluded 12th biennial International Conference themed, “Powering Forward: Enabling Nigeria’s Industrialisation via Gas” obtained by Energy Vanguard, the Managing Director, Nigeria LNG Limited, Mr. Tony Attah, MD/CEO, stated: “Nigeria LNG, the biggest LNG plant in Africa produces 22 million tonnes despite our 200 TCF, and that’s partly why we are saying it’s really a time to take advantage of this resource and start to monetize it.”

Energy Transition He said: “As the world is transiting, the risk is incumbent on us that we potentially could get to a point where even the gas, just like oil, will not be as relevant in the future because if technology, which I believe is the biggest disruption takes centre stage to make hydrogen more available and easier to access, then we have a big issue.

“As we say, there is still coal in Enugu, for those who are from the 50s, you can imagine the biggest economy at the time was underpinned by coal. “The locomotives, everything was about coal, power was about coal.

But today no one talks about Enugu with respect to energy. “So energy is in full transition. And we believe it’s time to monetise Nigeria’s gas today. We just touched on a quick case study of Qatar.

“Someone mentioned Qatar already from a proficient country to a gas giant, and it took just 10 years, which is why we as Nigeria LNG firmly believe in the conversation and the narrative about the declaration of the decade of gas. We believe it is possible.” Case of Qatar Speaking further, he said: “If you look at Qatar from 1995. When they really went into gas development, we were just two years behind Qatar.

“So Qatar’s first gas LNG was in 1997. Nigeria’s first LNG was in 1999, just two years behind. But then within 10 years because of the deliberateness of the government and focus on gas, they have gone to 77 million tonnes and we are at best 22 million tonnes. ““We’ve made major in-roads with the support of the Minister of State for Petroleum, the Group Managing Director of NNPC, the Executive Secretary of NCDMB, and our shareholders NNPC, Shell, Total, and Eni, taking the ultimate decision for Train-7.

“But Train 7 is only going to add about eight million tonnes to take us to 30 million tonnes and just recently to establish Qatar’s dominance and deliberateness and focus on gas, they have taken an FID for 30million tonnes. “We celebrated Train-7 on the back of eight million tonnes to take us to 30 million.

“They have taken FID for 30 million tonnes. Essentially, our overall existence as a country is their increment. And for me, that is about how deliberate you can be. Look at how much they have made it count in Qatar.

But for Nigeria LNG, we continue to deliver value to the nation.” In an interview with Energy Vanguard, Victoria Ibezim-Ohaeri, Executive Director, Spaces for Change, said: “As a major gas destination, Nigeria deserves to stake more of its resources in the development of its LNG in order to get much value from natural gas.

“As the world considers shifting from dependence on one form of energy to another, we should consider making massive investment in the sector, apparently because of much benefit the nation is currently getting from LNG.”

Report Nevertheless, in a document obtained from its website, the NLNG, stated: “NLNG has over the years paid dividends of about USD18 billion to the Federal Government of Nigeria courtesy of its shareholding in the company, via Nigerian National Petroleum Corporation, NNPC.

As a good corporate citizen, NLNG also contributes to national wealth and the economic wellbeing of states in which it operates, by paying all applicable taxes and tariffs. The company has paid about USD9 billion in taxes to the Federal Government of Nigeria.

“Payment to the Federal Government of Nigeria via its shareholding in Nigerian National Petroleum Corporation, NNPC, for feedgas from inception till date is about USD15 billion.

With its plant construction, the company generated considerable Foreign Direct Investment, FDI, for the country. NLNG has assets (i.e. property, plant and equipment) worth about USD17.5 billion with 51 per cent stake by international oil companies and 49 per cent belonging to the country through the Nigerian National Petroleum Corporation, NNPC.” The report, added:

“The Company, since 2008, has contributed about four per cent of Nigeria’s annual Gross Domestic Product, GDP. With rebasing of the GDP in 2014, NLNG’s contribution to the GDP is estimated at about one per cent. NLNG provided more than 12,000 jobs at the peak of construction of each plant. Overall, the major sub-contractors employed over 18,000 Nigerians in technical jobs in the Base Project (Trains 1 and 2). Through each Nigerian Content plan for its contracts, NLNG has promoted the development and employment of Nigerian manpower.

Over 12,000 direct jobs will be generated during the construction phase of Train 7.” Time, running out However, time seems to be running out as some emerging oil and gas nations have also ventured into commercial NLG production. Take Mozambique as an example.

In its latest report, African Oil and Gas, stated: “Mozambique at Forefront of Global Gas Development. “Driven by new discoveries and progressive gas-focused policies, Africa’s LNG consumption and production is set to become one of the fastest-growing sub-sectors globally through 2040.”

Read more at: Vanguard News Nigeria

SME Loans

Loans: Why its difficult for SMEs to get from  banks.

“Onyeagwu gave all these insights while speaking in an interview with Arise TV on why Nigerian banks charge high-interest loans”

The Group Managing Director of Zenith Bank, Mr. Ebenezer Onyeagwu  has discussed the impressive positive returns recorded this year by the bank. He also shared some insights on the relationship between commercial banks in Nigeria and Small/Medium Enterprise business owners.

READ ALSO: Investing during a recession.

Onyeagwu gave all these insights while speaking in an interview with Arise TV on why Nigerian banks charge high-interest loans, making it difficult for small business owners to get single-digit loans for their business, the Zenith Bank GMD explained that the operational costs and regulatory costs involved in running a bank usually sets the pace for every other thing.

He listed examples of operational costs involved in running a single bank branch and how all that adds to the bottom line at the end of the day.

He also highlighted regulatory costs which are not particularly known by people outside the banking sector as one of the costs of doing business banks face.

These two factors mainly contribute to the high-interest rates banks charge on loans.

“Our cost profile depicts the operating environment. Within the year we saw an upward review in fuel price, which accounted for the increase in our fuel cost. Again, when you are looking at cost of doing business, you also need to look in total, how businesses are being conducted. If I set up a branch today, I would need to provide my infrastructure, I need to provide power, water and in some cases, we even construct the road to provide access to the branch location. So, as a result of the poor state of infrastructure, you see that businesses would now have to contend with providing these resources to get their operations running. So, if we have more available and cheaper utility services and infrastructure to support businesses, of course, the cost would go down.

Then, looking at cost of doing business in banking, it goes beyond those operational costs. We also have things like regulatory cost. A bank like Zenith, given our size, the burden of regulatory cost on us is heavy. By regulatory cost here, I am referring to the Nigeria Deposit Insurance Corporation premium and the Asset Management Corporation of Nigeria fee. So, because of our size, if you look at the numbers, you will see that these regulatory costs account for a whopping 28 percent of our overhead. So, all of them come together to add to the cost of doing business for us as a banking institution in the country,” Onyeagwu said.

On why it is difficult to get single-digit loans from Nigerian banks, Onyeagwu highlighted 3 key reasons why single-digit loans are very difficult to obtain in Nigeria. He listed the following:

  • Fiscal deficit
  • Government Borrowing
  • Money supply and demand

The Zenith GMD stated that it is nearly impossible to issue an interest rate by fiat. He stated that the interest rate will always be determined by market forces.

He said, “First of all, if you are looking at the interest rate, you have to look at it in terms of the theoretical framework and issues around money supply, demand for money, issues around government borrowing, and the fiscal deficits. So, when you put all that together, you will see that you cannot have a situation where you decree interest rate by fiat. Interest rates would always be set by the dynamics and realities in the market. In this case, if you are looking at the interest rate in Nigeria, you have to index it to the risk-free rate. The one-year risk-free rate in Nigeria is like 10 percent. So, it will be difficult to have a single-digit rate in Nigeria.” 


Onyeagwu highlighted the various ways the Central Bank of Nigeria has intervened in a bid it provides single-digit loans to entrepreneurs in certain sectors. Sectors like cinema, movie, ICT, and fashion designing have been enjoying single-digit loans courtesy of various CBN initiatives.

He said, “We have intervention funds such as the Creative Industry Financing Initiative, where banks in the country provide long-term single-digit funding for entrepreneurs who are in cinema, movie, ICT, and fashion designing. We also have what is called the Agri-Business/Small and Medium Enterprise Investment Scheme. It is also a pool of funds available for businesses in that space. You can as well access these loans. Apart from these, the CBN also has different intervention schemes such as the Anchor Borrowers Scheme, the Commercial Agricultural Credit Scheme, and others, and all these loans are single-digit and they provide long-term financing. The big problem we have is that when you see an SME approaching you for the loan, the SME may not have a track record; he walks up to you and tells you that he needs a single-digit loan and needs N20 million.

“But I can’t give you N20 million without looking where you are coming from. So, we cannot decree the interest rate by fiat. But the regulators have done good work by providing funding schemes and whoever is eligible would get such single-digit long-term loans once they meet the criteria. So, the funding is there, but the SMEs when they approach the banks don’t often meet the eligibility criteria.” 


Investing During Recession

Investing During a Recession

Recession has in the last few years become something of a buzz word in Nigeria to describe the harsh economic conditions in the country and its resultant effect on the income, spending power and businesses of the people.

However, by definition, a recession happens when a country’s GDP falls in two consecutive quarters, while the Gross Domestic Product (GDP) simply means the measure of goods and services produced in a country over a period of time.

READ ALSO: Traders happy as movement of food trucks begins…

Last year, the economy contracted by 3.62 percent in the third quarter of 2020, indicating that two consecutive quarters of negative growth had been recorded in 2020 following the previous decline by 6.1 percent in the second quarter.

Officially, this meant that Nigeria’s economy slipped into recession and for the second time in four years as oil prices plunged in the midst of the COVID-19 pandemic.

Recessions are usually characterized by falling incomes, weakened sales and production as well as a drop in the confidence levels of investors. Consequently, this leads to an aversion for risk and often a tendency to err on the side of safety.

The interesting fact, however, remains that recessions often give way to recoveries soon after. In the light of this, with the right strategy, a recession might not necessarily be a bad time to invest.

These few tips will be useful in helping you create your personal investment strategy.

Avoid Panic One big mistake investors make in times of recession is to make panic-induced decisions and follow an inclination to liquidate investments in favour of cash. This could, however, mean that you box yourself into a “corner” which could eventually produce hefty losses once the economy begins to recover. This is especially for people who have a stock-based investment portfolio.

Also, patiently wait to get dividends for your existing investments and resist the urge to sell in panic. Carefully Inject Funds into Investments When a market is fraught with volatility and investor fear, it can be extremely difficult to time trades perfectly and properly predict when prices are likely to rise or fall.

The way to work around this is to find a personal saving pattern that works for you and then carefully identify investments that appear worthwhile to inject your saved resources into.

This can help you save money and also, significantly increases your purchasing power as prices are usually low at these times.

It may also be a good time to take advantage of low prices and get bargain deals especially in industries that have been hard hit by the recession but have clear potential to bounce back strongly.

Take a Peek In taking on new investments in this period, especially with direct investment like shares, always take a peek into the financial records as well as the business and operational models of the companies you are considering for investment.

Industries and companies that cater to basic human survival needs are a good bet in this regard because they can often expect to experience minimal upheavals even in a recession.

There is Nothing Wrong with Being Safe Investing in safety nets such as bonds and mineral resources such as gold can be a great way to store up value, as their performance is often unaffected by market forces.

This can help you diversify your portfolio properly and ensure you are not entirely reliant on how the stock market pans out. I leave you with the words of the American businessman, MichealNesmith “Behind every dark cloud, there is usually rain”.


Traders FoodTruck

Traders happy as movement of food trucks begins…

Dealers in food items in Kwara and neighbouring states have heaved a sigh of relief as free movement of goods and food products Monday resumed from North to South West states.

READ ALSO: Osinbajo to NIPSS: We Know All About Think-Tanks, What We Need Now Are Do-Tanks

Some suspected hoodlums of northern extraction at the weekend reportedly barricaded the Jebba-Ilorin highway to disallow food items-carrying trucks from allegedly entering South West states.

It was reported that truckloads of food items from the northern parts of the country were denied entry into states of the South West.

It was also gathered that some Hausa youths in Kara-Jebba, outskirts of Niger state in Kwara state boundary had between last Thursday and Friday, blocked truck drivers carrying food items from entering South Western states.

The items are tomatoes, beans, yams, cattle, pepper and others.

The situation, it was gathered resulted in indiscriminate parking of food rucks along the road obstructing vehicular movement and causing the destruction of the perishable food items.

Investigation revealed that free movement of goods laden food trucks resumed early Monday morning on the Jebba-Ilorin expressway.

Resident of Jebba, who is a prince of the ancient town Ibrahim Adebara, said that a troop of military operatives drafted by the federal government effected the free movement.

Prince Adebara said that the military personnel had stationed along the road to maintain law and order, adding that the military personnel threatened to treat anyone that blocks the road as terrorist.

Also speaking, a trader called Madam Asiawu Balogun said she was happy with the return of normalcy, however, lamenting losses caused by some perishable items that got bad while the situation lasted.

The Defence headquarters, in a statement at the weekend by its acting director Defence information, Brigadier-General Onyema Ugochukwu, said it had cleared the Jebba-Kaduna road of those preventing trucks from going to the South and restored normalcy there.

“This is also to give a stern warning to any unscrupulous group or persons who are aiming at disrupting legitimate economic and commercial activities by preventing free flow of traffic and movement of goods in a bid to generate clashes along ethnic divides to desist from such unpatriotic acts or face the wrath of the law.

“Members of the public are also urged to promptly report anyone found engaged in such atrocious activities to security operatives,” the statement had said.


Osibanjo to NIPSS

Osinbajo to NIPSS: We Know All About Think-Tanks, What We Need Now Are Do-Tanks

VP task participants to unlock mystery of failed or poorly implemented policies and projects

So, your task is already well cut out for you. Perhaps Course 43 will be able to unlock the mystery of failed or poorly implemented policies and projects, but more importantly, promote a practical, nitty-gritty guide to implementing projects and policies. This is a body of knowledge that is desperately needed today.

READ ALSO: Capital market investment: Managing Risks…

Those were the words of Vice President Yemi Osinbajo, SAN, earlier today while inaugurating the Senior Executive Course 43 of the National Institute for Policy and Strategic Studies (NIPSS).

Speaking on the theme of the Course 43 programme titled Getting Things Done: Strategies for the Implementation of Policies and Programmes in Nigeria”, the Vice President noted that “this year’s theme goes to the heart of what is generally considered the bane of development in Nigeria, poor implementation.”

According to him, “the proverbial gap between intention and results; between policy and stated outcomes; delivering on campaign promises or even just doing what the well-articulated policy papers say. For many serious-minded policymakers, the frustration is the same, yes we know all about think-tanks what we need now are do-tanks.”

While commending the commitment and contributions of NIPSS to critical national issues through policy briefs, policy advice and other strategic interventions, Prof. Osinbajo assured staff, participants and management of the Federal Government’s continued support to the institution especially in the upgrade of facilities but tasked the NIPSS management to be innovative in addressing its problems.

“While Government will continue to do its best to support the National Institute, I should stress that budgetary provisions alone will always be limited given competing needs and responsibilities of government. It is therefore imperative for NIPSS to be even more pro-active and creative in seeking alternative sources of funding, the Vice President added.

Commiserating with the management and staff of NIPSS on the demise of its Director-General, the late Prof. Habu Galadima, the Vice President recalled the late DG’s hard work and dedication particularly to the growth of the institute, describing the late DG as a passionate advocate for the transformation of the Institute”

As in the previous programmes, participants of Senior Executive Course 43 are drawn from the private sector, the public service, including paramilitary organizations and the armed forces.

Present at the event were Plateau State Governor, Mr Simon Lalong, representatives of the Service Chiefs, among others.


Investment Risk Capital Market

Capital market investment: Managing Risks…

The capital market is, generally, regarded as a safe haven for investment. There, your money works for you.

The market is a setting for income without stress.

READ ALSO: Firstbank Unveils First SME Account…

Smart and daring speculators can make fortunes there and can also lose a fortune through poor judgement.

Despite its attractiveness, the capital market is volatile.

In fact, volatility in price of securities is the hallmark of every capital market.

Increased risk can emanate from increased volatility.

Everyday, stock prices go up and down in reaction to any number of issues involving business, the socioeconomic and geopolitical events.

The field of behavioral science has contributed an important element to the risk equation, demonstrating asymmetry between how investors view gains and losses.

Investors usually put roughly twice the weight on the pain associated with loss than the good feelings associated with a profit.

Every investor wants to play safe with his investments.

Often, investors want to know just how much the value of an asset may deviate from it’s expected outcome, and also how bad things may look way down on the negative side.

Value-at-Risk (VaR) attempts to provide an answer to this question.

The idea behind VaR is to quantify how large a loss in investment could be with a given level of confidence over a defined period.

Due to the high volatility and frequent downturns in the capital market, uncertainties characterize the predictability of returns on investment.

As a result of uncertainty, it is extremely difficult to predict the future price of a security and by extension, direction of the capital market.

Uncertainty and risk are synonyms but they are not quite the same. Uncertainty must be taken in a sense radically distinct from the familiar notion of risk, from which it has never really been properly separated.

The term “Risk” as loosely used in everyday speech and in economic discussion, really covers two things which functionally at least in their causal relations to the phenomenon of investment, are categorically different.

Uncertainty is the lack of complete certainty. It is a situation where the future outcome cannot be predicted with any confidence from knowledge of past or existing events.

Uncertainty presents more than one possibility whereby the true outcome or result is unknown. Uncertainty is immeasurable ie, not possible to calculate whereas, risk is a state of uncertainty where some of the possibilities involve a loss, catastrophe or other undesirable outcome.

It is a set of possibilities each with quantified probabilities and quantified losses. One may have uncertainty without risk but not risk without uncertainty. We can be uncertain about the winner of a contest but unless we have some personal stake in it, we have no risk.

If we bet money on the outcome of the contest, then we have a risk. Consequently, the measure of uncertainty refers only to the probabilities assigned to outcomes while the measure of risk requires both probabilities for outcomes and losses quantified for outcomes. Uncertainty presents both risk and opportunity, eroding or enhancing value.


First-bank SME

Firstbank Unveils First SME Account…

First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider, has announced its SME specific accounts designed to reinforce the Bank’s role in putting SME’s at an advantage whilst contributing to national growth and development.

READ ALSO: CIT Microfinance Bank Disburses Over N16bn Loans

The SME accounts – which are in two variants – First-bank SME Classic and First-bank SME Deluxe – are offered to SMEs, irrespective of industry, and tailored to have SMEs exposed to a wide range of services and opportunities that are essential for their continued growth and role in contributing to national development.

The advantages and features of these accounts include; access to Temporary OverDrafts (TODs)and other facilities subject to meeting Risk Adjustment Capital (RAC) of each product; immediate enrollment on all digital platform; free access to FirstBank SME events; free access to extensive business promotional and networking opportunities on the SMEConnect portal; access to a wide range of discounted and promotional offers.

Amongst the many opportunities available to holders of FirstSME account is the SMEConnect initiative of FirstBankwhich is a platform through which SMEs access the Bank’s unique propositions that will equip them with the essential tools needed for the growth of their business.

The SMEConnect portal is also designed to help SMEs identify various gaps that hinder their business growth. With FirstBank’s over 126 years of impacting the economy, the Bank’s SME innovative Business Diagnostics Tool will also help proffer tailored solutions, whilst creating avenues for business improvement, profitability and sustainability.

Following extensive research by the Bank, 7 strategic pillars have been considered essential for the sustainability and growth of SMEs. The 7 pillars – connect to infrastructure, connect to talent, capacity building, connect to policy and regulation, connect to resources, connect to market as well as connect to finance.

According to Chief Executive Officer of FirstBank, Dr. Adesola Adeduntan, “FirstBank is delighted to unlock several opportunities for SMEs to thrive. Our FirstSME account is one of the numerous opportunities designed to empower SMEs to continually drive impact as the backbone and contributors to employment and economic growth.

Being woven into the fabric of the society for close to 127 years means that we remain at the forefront of providing the desired financial products and services to fit the needs unique to the SMEs as well as facilitating the requisite tools and resources to efficiently and effectively drive business sustainability and expansion strategies essential to taking SMEs to the next level’’


Microfinance Bank Loans

CIT Microfinance Bank Disburses Over N16bn Loans

CIT Microfinance Bank Limited says it has disbursed about N16bn loans since it commenced operations as part of its contributions to the financial sector and empowerment of businesses.

The Managing Director of the microfinance bank, Mr Kingsley Eremionkhale, disclosed this during the company’s 10th anniversary in Lagos recently.

READ ALSO: Key to SME growth in Lagos state

He reiterated that the bank is committed to supporting the growth of small and medium-scale enterprises in the country.

“Since inception, we have disbursed loans worth about N16bn. Our operation is not just about profit-making, but we have impacted many lives, empowered many businesses, and done a lot in terms of our core mandate as a microfinance bank.”

While appreciating its customers who had been loyal to it for years, he said the MFB is  concerned about their business success.

The Managing Director said, “We are part of our customers’ businesses. We provide services beyond lending and savings products and we also give financial advisory services.”

He appreciated the customers who had stayed with the financial institution for many years.

Eremionkhale noted that the MfB is a state-licensed bank operating in Lagos, and a subsidiary of Capitalfield Investment Group.

He also attributed the success of the MfB to the board of directors which he said had been supportive of the management team and its workforce in the past 10 years.

While saying that the bank could lay claims to exponential growth, he said the public should expect more from it.

He also said that it was driving its operations through its digital offerings and e-channels, to improve its services to our customers.