Ict/Telecom
…As 66 To Benefit From Lawmaker’s Training
Arrangements have been concluded by the Senator representing Cross River Central Senatorial District at the National Assembly, Senator John Owan Enoh, to train 66 youths who will be drawn from 66 wards in the 6 local governments of the central senatorial district of the state.
Beneficiaries of the programme will be trained in the area of web-design, internet fundamentals, Information and Communication Technology (ICT) so that they would become self reliant.
Owan disclosed this while addressing youths at the 3rd edition of the Leadership/Empowerment and Capacity Building programme organized by the National Assembly lawmaker to motivate youths of his constituent become self reliant.
The lawmaker maintained that the world was fast becoming a global village whereby somebody can seat in his bedroom and do business across international boundaries via the internet network without coming in close contact with the other person who is patronizing his business and urged youths in the area to make themselves available for the training so as not to be left behind.
He said that nowadays people no longer make money in a primordial way but via the internet and urged the youths to key into the programme so that they can connect themselves with their counterpart in Nigeria and across the shores of the country.
The lawmaker stated that he is aware of many Nigerians who had gotten their breakthrough in different areas of human endeavour via the face book, twitter, whatsaap platform and several other social media networks without coming in contact with those patronizing their businesses or aided them to achieve such strides.
He charged youths to key into the programme so as to acquaint themselves with the going-on in the society so as not to be left behind adding that a time has come whereby several businesses are being done via the internet.
The lawmaker explained that people who refused to upgrade their knowledge of the internet will be pushed out of business because they weren’t internet base and urged youths of his constituency to get armed themselves with the knowledge of the internet so as not to be seen as a social misfit.
Owan, an immediate past Chairman, Finance and Appropriation Committee in the House of Representatives stated that 66 youths would be picked from the 66 wards in the six local government areas that make up the central senatorial district of Cross River State to commence training in the area of web design and others to enable them make money via the internet.
The lawmaker, who spoke on the theme, ‘Cross River Central Youths Tapping into the Wealth of the Internet for self employment,’ said that knowledge acquired at the end of the training programme will help youths build capacity in the area of Information and Communication Technology ICT.
He said that when such skill is been acquired by the youths, beneficiaries of such programme can on their own make money via the internet rather than lurking around to seek for monetary assistance.
The National Assembly lawmaker urged the delegates at the conference to be good ambassadors of the senatorial district.
He stated that beneficiaries of the ICT programme would go home with a customized laptop to enable them kick-start their small scale enterprise in the ICT sub-sector.
The lawmaker appealed to the beneficiaries not to sell the laptops adding that a time has come when youths of the central senatorial district needed to take their destinies into their hands.
Friday Nwagbara, Calabar
The Managing Director, Shell Nigeria Exploration and Company Limited (SNEPCo), Elohor Aiboni, said Bonga, Nigeria’s first deep-water asset, has recorded major milestones, due to effective leadership, cutting-edge technology, continuous improvement and collaboration with stakeholders.
She noted that since coming on stream in November 2005, Bonga has maintained a track record of production that saw it achieve one-billion-barrel export on February 13, last year.
In her presentation, titled “The Bonga Journey to a Billion Barrels”, at the ongoing 2024 Offshore Technology Conference in Houston, Texas, United States, Aiboni, said: “SNEPCo is grateful for the contributions of all the parties to the Bonga story and we can all be proud of the milestones.
“Bonga has been consistent. In 2014, nine years after coming onstream, it achieved half a billion barrels of crude and doubled it in 2023. We have worked relentlessly to ensure excellent asset management, project and wells delivery and deployment of technology and innovations in our operations”.
According to her, these factors, “coupled with the supportive partnership of the Nigerian National Petroleum Company Limited and our co-venturers – TotalEnergies, EP Nigeria Limited; Nigerian Agip Exploration; and Esso Exploration and Production Nigeria Limited, make Bonga stand out as a world-class investment case”.
She continued that, “SNEPCo also enjoyed the support of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Content Development and Monitoring Board (NCDMB) in the success of Bonga operations”.
Aiboni also listed the challenges of keeping the Bonga Floating Production, Storage and Offloading vessel full as the asset ages and dealing with unexpected developments with subsea wells and equipment.
She said: “SNEPCo responded with a campaign of operational excellence, which among other initiatives, led to the creation of a programme known as the Bonga Business Improvement Plan that continually reviews and identifies improvement initiatives and drives sustainability in operations and upskilling of staff.
“The Bonga success story has been led by Nigerians who have been managing directors of SNEPCo since it was established in 1993, in a deliberate policy by Shell to develop indigenous manpower for deep-water operations in Nigeria.
“Today, some 97percent of the SNEPCo workforce is Nigerian and overall, Bonga has helped to create a new generation of Nigerian deep-water professionals.
“Our vision at SNEPCo remains to be the best deep-water business, powering growth and achieving net zero emissions in line with Shell’s Powering Progress strategy”.
Banks’ borrowings from the Central Bank of Nigeria (CBN) fell month-on-month, (MoM) by 44 percent to N12.16 trillion in April from N21.7 trillion in March.
Analysis of latest data from the CBN shows that the 44percent drop represents the first MoM decline in banks borrowing from since January when it increased by 268.7 percent to N3.6 trillion from N976.29 billion in December 2023.
However, further analysis showed that banks’ deposits in the CBN SDF grew MoM by 118.4 percent to N428.97 billion in April from N196.37 billion in March 2024.
Banks make use of the SLF to access liquidity to run their day-to-day business operations while the Standing Deposit Facility window (SDF) on the other hand, is an overnight deposit facility that allows banks to lodge excess liquidity (money) with the CBN and earn interest.
The decline in banks’ borrowing from SLF may reflect an increase in banking system liquidity and also the decision of the apex bank last year to remove the limit on the remunerable daily placements by banks at the SDF.
According to the CBN Governor, Mr. Olayemi Cardoso, the CBN removed the cap on the remunerable SDF to increase activity in the SDF window and manage liquidity.
A Financial technology expert, Olatunji Akinrinola, has highlighted the exponential growth of the FinTech industry, which according to him, was driven by technological advancements.
Akinrinola made this assertion in a press release recently, where he stressed that the role of technology in driving this exponential growth in the FinTech sector was very outstanding.
According to him, Technology has revolutionised the way financial services are delivered, making them more accessible, efficient, and inclusive.
“Through innovations such as mobile banking, digital payments, and blockchain technology, FinTech companies have been able to reach a larger population and provided them with access to financial services”, he stated.
Akinrinola emphasised the role of technology in enabling financial inclusion, adding: “Technology has democratised access to financial services, particularly in regions with limited banking infrastructure.
“Mobile money platforms and digital wallets have empowered individuals to conduct financial transactions conveniently and securely, without the need for traditional banking services”.
He also underscored the role of Artificial Intelligence (AI) and data analytics in driving innovation within the FinTech industry, noting: “AI-powered algorithms and predictive analytics have revolutionised risk assessment, fraud detection, and customer personalisation in financial services.
“These technologies enable FinTech companies to provide tailored solutions and mitigate risks more effectively, ultimately enhancing the overall customer experience”.
Akinrinola stressed the importance of regulatory frameworks in fostering the growth of the FinTech industry.
“While technology has accelerated the growth of FinTech, it is essential to establish robust regulatory frameworks to ensure consumer protection and maintain market stability. Regulators play a crucial role in balancing innovation with risk management, thereby creating a conducive environment for the sustainable growth of the FinTech sector”, he stated.
Akinrinola underscored the role of technology in driving the exponential growth of the FinTech industry, saying, “Technology has been a game-changer for the FinTech sector, enabling innovation, expanding access to financial services, and driving economic growth.
“As technology continues to evolve, the FinTech industry will undoubtedly play a significant role in shaping the future of financial services ecosystem”.
Corlins Walter