All Posts in "Month: February 2023"

AfDB approves $50m, €50m Credit for ECOWAS EBID for food security, agricultural value chains

By Favour Nnabugwu

 

 

The Board of Directors of the African Development Bank Group has approved a dual-currency Trade Finance Line of Credit for ECOWAS Bank for Investment and Development (EBID) comprising $50 million and EUR 50 million to enhance food and boost agricultural value chains in the region

An additional co-financing of $30 million for the credit line will come through the Africa Growing Together Fund (AGTF) from the People’s Bank of China (PBOC).

EBID will use the three-and-a-half-year facility to provide direct financing to local corporates. Part of the facility will also be channelled through select local banks for on-lending to key sectors such as agriculture, infrastructure, and transport.

The ultimate beneficiaries will be Small and Medium-sized Enterprises (SMEs), local enterprises cooperatives and farmers in the West Africa region.

tutions like EBID are key partners of the African Development Bank and serve markets and client segments critical to the overall development of the continent.

“They play an important role in promoting trade and regional integration. This is the Bank’s first financing support to EBID, and we look forward to an even stronger partnership in the near future,” he said.

The Bank’s Head of Trade Finance, Lamin Drammeh, stressed the critical need for such support in the region. “We are excited to work with EBID to increase access to trade finance in the ECOWAS region with a special focus on the agriculture value chain, SMEs and women-owned businesses”, he said.

“Regional institutions like EBID complement the Bank’s efforts to bridge the trade finance gap in Africa and serve as an effective conduit for channeling much-needed funds to underserved countries and sectors”, he added.

The African Development Bank estimates the annual trade finance gap for Africa to be around $81 billion. Compared to multinational corporates and large local corporates, SMEs and other domestic firms have greater difficulty in accessing trade finance.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

Patoma Admin by — February 2, 2023 in Banking & Finance 0
CBN directs banks to pay redesign naira notes over-the-counter

 By Favour Nnabugwu
The Central Bank of Nigeria (CBN) has
directed deposit money banks (DMBs) in the country to commence the payment of the redesigned Naira notes over the counter, for a maximum daily payout limit of N20,000.
Director Corporate Communication, CBN, Osita Nwanisobi in a statement stated that the apex bank will collaborate  with the Nigeria Police, Federal Inland Revenue Service (FIRS), the Economic and Financial Crimes Commission (EFCC) and the Nigerian Financial Intelligence Unit (NFIU) to prosecute abuses and sellers of the naira.
Nwanisobi said, “The Central Bank of Nigeria (CBN) has observed, with grave concern, the activities of persons who sell the newly redesigned banknotes and those who flagrantly abuse the legal tender by hurling wads of Naira notes in the air and stamping on the currency at social functions.
“We have equally noticed the queues at Automated Teller Machines (ATMs)
across the country and an upward trend in the cases of people stocking and
aggregating the newly introduced banknotes they serially obtain from ATMs for reasons best known to them,” he added
Also worrisome are the reported cases of unregistered persons and non-bank officials swapping banknotes for members of the public, purportedly on behalf of the CBN.
“We wish to state unequivocally that, contrary to the practice of these unpatriotic persons, it is unlawful to sell the Naira, hurl (spray), or stamp on the currency under any circumstance whatsoever.
For the avoidance of doubt, Section 21(3) of the Central Bank of Nigeria Act
2007 (As amended) stipulates that “spraying of, dancing or matching on the
Naira or any note issued by the Bank during social occasions or otherwise howsoever shall constitute an abuse and defacing of the Naira or such note and  shall be punishable under the law by fines or imprisonment or both.”
“Similarly, Section 21(4) states that “It shall also be an offence punishable under Sub-section (1) of this section for any person to hawk, sell or otherwise trade in the Naira notes, coins or any other note issued by the Bank.”
“Accordingly, the Central Bank of Nigeria (CBN) is collaborating with the Nigeria
Police, Federal Inland Revenue Service (FIRS), the Economic and Financial
Crimes Commission (EFCC) and the Nigerian Financial Intelligence Unit (NFIU) to address the unpatriotic practice.
“We, therefore, warn Nigerians, particularly those at social functions such as birthdays, weddings and funerals, to desist from disrespecting the Naira or risk being arrested by law enforcement agencies.
“While reiterating our commitment to Nigerians to ensure the effective
distribution of the newly introduced Naira banknotes, we urge them to exercise patience as the CBN is working assiduously to address the challenge of queues at ATMs.
“In line with this resolve, the Governor, Mr. Godwin Emefiele, has directed deposit money banks (DMBs) to commence the payment of the redesigned Naira notes over the counter, subject to a maximum daily payout limit of N20,000.
“We also admonish members of the public to embrace and adopt other payment channels for their transactions.
The Naira is our legal tender and symbol of national pride. Therefore, let us
respect it and handle it with care”
Patoma Admin by — February 2, 2023 in Banking & Finance 0
NiMet predicts 3-day thick dust haze, sunshine on Thursday, Friday, Saturday

By Favour Nnabugwu
The Nigerian Meteorological Agency (NiMet) has predicted dust haze and sunshine from Thursday to Saturday across the country.
NiMet’s weather outlook in Abuja predicted thick dust haze on Thursday, Friday and Saturday over the Northern region throughout the forecast period.
According to the agency, cloudy conditions with sunny intervals are expected over the North Central region.
It, however, forecast moderate dust haze over Plateau, Niger and Federal Capital Territory throughout the forecast period.
NiMet anticipated partly cloudy conditions over the Inland cities of the South and coastal cities in the morning hours.
It envisaged prospects of thunderstorms over parts of Cross River, Akwa Ibom and Rivers States later in the day.
“On Friday, moderate dust haze condition with horizontal visibility of 2km to 5km is anticipated over the Northern region during the forecast period.
Thunderstorms are expected over parts of Cross River, Bayelsa and Delta States in the afternoon/evening hours,” it said.
The agency predicted slight dust haze condition on Saturday over the northern region during the forecast period.
It forecast partly cloudy conditions with sunny intervals over the North Central cities during the forecast period.
“Partly cloudy conditions are anticipated over the inland cities of the South and coastal cities with chances of morning thunderstorms over Cross River and River States.
“In the afternoon/evening period, thunderstorms are expected over parts of Imo, Abia, Ondo, Edo, Cross River, Delta, Rivers, Akwa Ibom and Bayelsa States,” it said.
According to NiMet, all Airline operators are advised to avail themselves of weather reports periodically from NiMet for effective planning in their operations.
NiMet urged citizens to switch off and disconnect electronics from power supply to avoid damages that could occur as a result of lightning flash at places where thunderstorms were expected.
Patoma Admin by — February 2, 2023 in Aviation 0
Monthly focus for February, 2023 by Pastor Favour Onoja

MONTHLY FOCUS FOR FEBRUARY, 2023.

 

By Pastor Favour Onoja

 

 

“But Noah found grace in the eyes of the LORD” (Genesis 6:8).

Welcome to the Month of February, 2023. Our Focus for the Month is “GRACE”

In this Month, as Noah found grace in the sight of the Lord and he was distinguished and preserved, you shall find grace in the eyes of the Lord. I decree and declare that you shall be blessed, preserved and distinguished, in Jesus Name, Amen.

I decree and declare that God shall make all grace abound towards you and your family; and you shall abound in everything – in faith; in utterance; in knowledge; in all diligence; and in your love for God throughout this Month, in Jesus Name, Amen! (2Corinthians 8:7; 9:8).

WHAT IS GRACE?

* God’s favour and His blessing.

* Underserved goodness and favour of God to mankind.

* The triumphant announcement that God in Christ has acted and has come to the aid of all who will trust Him for their eternal salvation.

* Mercy for the undeserving and unmerciful.

* Help for the helpless.

* Redemption for the renegade and repulsive.

* Love for the unloving.

* Kindness for the unkind and un thankful.

SECRETS OF GRACE:

1. LOVE FOR GOD: Thou hast loved righteousness, and hated iniquity; therefore, God even thy God, hath anointed thee with the oil of gladness above thy fellow (Hebrews 1:9; Psalm 45:7). Love for God and hatred for iniquity becomes a major prerequisite for the grace of God. Those who love God don’t beg for the grace of God. He that loveth pureness of heart, for the grace of his lips the King shall be his friend (Proverbs 22:11). Utterance and grace, favour and likability or acceptance are poured forth where love and pureness of heart exists.

2. SERVICE: Service to God and humanity are one major secrets of Grace. Do you want to see more Grace, serve. Service does not kill, but rather enhances. Elisha poured water on the hands of Elijah (2Kings 3:11) and he worked in abundant grace. No wonder, he collected double portion of Elijah’s unction (grace).

3. SACRIFICE: Grace is also released on the platform of sacrifice.

4. HUMILITY: Humility is the pathway to accessing the grace of God. Be humble. Avoid the spirit of pride and arrogance. “Likewise, ye younger, submit yourselves unto the elder. Yea, all of you be subject one to another, and be clothed with humility: for God resisted the proud, and giveth grace to the humble.

5. IMPARTATION: Grace can also be released or accessed through impartation from a higher unction to a lower person. It’s like the gradient of a graph that flows from the top down. God instructed Moses to put some of his honour upon Joshua (Numbers 27:18-20).

6. LABOUR: Grace accompanies labourers. This was the secrets of Paul’s exploits. He laboured more abundantly than the rest Apostles (1Corinthians 15:10). He was the least, yet he came and overtook all of them and wrote two third of the New Testaments on the platform of labour.

HINDERANCES TO FUNCTIONING IN GRACE:

1. OFFENCE: Offence can

hinder the flow of virtues (power). If you want to function in Grace, have a conscience that is tender and void of Offences (Acts 24:16). The devil will use the people that you love to offend you. Learn to forgive people in advance because offence will or must definitely come (Matthew 18:7).

DANGERS OF OFFENCE:

* It hinders the flow of virtues (power).

* It moves you out of the Will of God. Moses moved out of the Will of God because of Offences (Numbers 20:11-12).

* Offence gives place to the devil in your life. It gives the devil legality on the earth to afflict you. It gives him legal grounds to operate and reck havoc at will in our lives.

* It causes your heavens to be closed.

* It hinders your productivity and effectiveness.

* It causes delays.

* It hinders your creativity, inspiration and revelation.

* It brings sickness and diseases.

* It causes you to miss out of the plan and purpose of God for your life.

* Offences causes the Holy Spirit to be grieved (Ephesians 4:30-32; Colossians 3:8).

* It hinders your prayers and fellowship with God.

* It can lead you into temptation by taking decisions against your Will.

* It can lead to depression

* It can lead to suicide

* It’s the reason behind hired assassinations.

2. INIQUITY AND SIN: Samson was hindered through sin. He prostituted the anointing of God upon his life through sin (Judges 16:1).

3. GREED AND COVETOUSNESS: Gehazi because of greed and covetousness lost everything and brought leprosy upon his generation. The prophetic grace on Elisha which he should have contacted and transmitted to his generation was also lost on the platform of greed and covetousness (2Kings 5:25-27; Jude 1:11; 2Peters 2:14-16).

4. MERCHANDISING THE ANOINTING: Those who merchandise the anointing of God on their lives cannot function in grace. The Bible said “freely you have received, freely give (Matthew 10:8). Some Pastors requests that a sum of money be paid before you can see them for prayers and some go as far as selling anointed handkerchiefs for a sum of money.

5. WRONG ASSOCIATION: Be careful with the company that you keep. It can affect your Grace (2Chronicles 18:1; 20:37)

6. UNFAITHFULNESS6: Unfaithfulness is a major destroyer of grace (Matthew 25:18-30).

PROFITS/BENEFITS OF GRACE:

1. It qualifies you. Paul said, his election was by grace (Romans 11:5; 2Peters 1:10)

2. It gives you preference above your contemporaries (Daniel 6:1-3; Esther 2:15; Luke 3:21-22).

3. It is the secret of Speed and Impact (1Corinthians 15:10). Paul enjoyed it. He wrote two third of the New Testament.

4. It is the secret of Open Doors. Doors cannot be shut against a man with grace.

5. It is the secret of Excellence. Anywhere you see excellence, grace is at work.

6. It is behind exploits in Life and Ministry. Daniel made exploits in the Babylonian Kingdom for 70 years on the platform of grace.

7. It is the secret of Distinction (Genesis 6:8). If you want to go up in life, be humble enough to apply for grace.

8. It is the secret of the Power of God. Anywhere grace is found, the power of God is in abundance.

9. It is the key to the manifestations of the gifts of the Spirit.

10. It is the secret of the keys to the Kingdom of Heaven (Matthew 16:19).

11. It is the secret of Revelation.

12. Grace is the secret of Wisdom and Expertise (Exodus 35:30-35; 36:1-2).

13. It is the secret of Ease. You accomplish tasks with ease when grace is on ground.

14. It guarantees your Security: You are secured in your area of grace. The reason for jealousy, hatred and competitive spirits in the body of Christ today is because some people are not secured in their areas of grace.

15. It is the secret to Wealth. Grateful people are wealthy people. David Oyedepo, David Yongi Cho, Kenneth Copeland, Kenneth Hagin, Oral Roberts, Billy Graham, Noah, Abraham, Isaac, Jacob, Joseph, Moses, and Job are all wealthy people.

16. It is the secret of Obedience. Grateful people are obedient people (Genesis 12:1-4).

17. It is the secret of Joy. Joyful people are grateful people (Acts 20:14).

18. It is the secret to answered prayers (Exodus 33:17).

19. It is the secret of Favour (Esther 2:15).

20. It is the secret of Rest.

PROPHESIES:

In this Month, I prophesy that the grace of God shall abound towards you in every realm, in Jesus Name, Amen!

I decree and declare that you shall enjoy sweat-less exploits this Month on the platform of Grace in Jesus Name, Amen!

FAVOUR ABU ONOJA Tel.No: +234(0)8055842594 (WhatsApp)E-mail: onojaaf@yahoo.com

 

Patoma Admin by — February 2, 2023 in Religion 0
Africa to beat other countries with 4% GDP in 2023, 2024

By Favour Nnabugwu
Africa is set to outperform the rest of the world in economic growth over the next two years, with real gross domestic product (GDP) averaging around 4 percent in 2023 and 2024.
This is higher than projected global averages of 2.7 percent and 3.2 percent, the African Development Bank Group said in Africa’s Macroeconomic Performance and Outlook report for the region, released in Abidjan last week.
With a comprehensive regional growth analysis, the report shows that all the continent’s five regions remain resilient with a steady outlook for the medium-term, despite facing significant headwinds due to global socio-economic shocks. It also identified potential risks and called for robust monetary and fiscal measures, backed by structural policies, to address them.
The Macroeconomic Performance and Outlook report will be released in the first and third quarters of each year. It complements the bank’s existing annual African Economic Outlook report, which focuses on key emerging policy themes relevant to the continent’s development.
The report shows that estimated average growth of real GDP in Africa slowed to 3.8 percent in 2022, from 4.8 percent in 2021 amid significant challenges following the Covid-19 shock and Russia’s invasion of Ukraine.
Despite the economic slowdown, 53 of Africa’s 54 countries posted positive growth. All the five regions of the continent remain resilient with a steady outlook for the medium-term.
However, the report sends a cautionary note on the outlook following current global and regional risks. These risks including soaring food and energy prices, tightening global financial conditions, and the associated increase in domestic debt service costs.
Climate change with its damaging impact on domestic food supply and the potential risk of policy reversal in countries holding elections in 2023—pose equally challenging threats.
The report advocates bold policy actions at national, regional, and global scales to help African economies mitigate the compounding risks.
In remarks during the launch, African Development Bank Group President Dr. Akinwumi Adesina said the release of the new report came at a time when African economies, faced with significant headwinds, were proving their resilience.
“With 54 countries at different stages of growth, different economic structures, and diverse resource endowments, the pass-through effects of global shocks always differ by region and by country. Slowing global demand, tighter financial conditions, and disrupted supply chains therefore had differentiated impacts on African economies,” he said.
 “Despite the confluence of multiple shocks, growth across all five African regions was positive in 2022 and the outlook for 2023 to 2024 is projected to be stable.”
Niale Kaba, Minister of Planning and Development of Côte d’Ivoire, said: “The release of this report by our bank, the African Development Bank Group, at this time of the year is an excellent opportunity for Africa and its global partners.
We need these regular updates to assess our countries’ macroeconomic performance and prospects. This reliable information will help decision-making and risk management for potential investors in Africa.”
Africa’s pre-Covid-19 top five performing economies are projected to grow by more than 5.5 percent on average in 2023-2024 and to reclaim their position among the world’s 10 fastest-growing economies. These countries are Rwanda (7.9 percent), Côte d’Ivoire (7.1 percent), Benin (6.4 percent), Ethiopia (6.0 percent), and Tanzania (5.6 percent).
Other African countries are projected to grow by more than 5.5 percent in the 2023-24 period. They are the Democratic Republic of Congo (6.8 percent), The Gambia (6.4 percent), Mozambique (6.5 percent), Niger (9.6 percent), Senegal (9.4 percent), and Togo (6.3 percent).
At the launch, economist Jeffrey Sachs, Director of the Center for Sustainable Development at Columbia University commended the report which he said showed that African economies are growing and growing consistently.
Sachs, who is also United Nations Secretary-General Antonio Guterres’ Advocate for Sustainable Development Goals, said: “Africa can and will rise to growth of 7 percent or more per year consistently in the coming decades.
 What we’ll see, building on the resiliency we see in this report, is a real acceleration of Africa’s sustainable development so that Africa will be the fast-growing part of the world economy. Africa is the place to invest.”
Patoma Admin by — February 2, 2023 in Banking & Finance 0
Africa spends $75bn yearly to import over 100m metric tonnes of cereal 

Africa spends &75bn yearly to import over 100m metric tonnes of cereal
By Favour Nnabugwu
Africa is said to spend a whopping $75billion yearly to import over 100 million metric tons of cereals alone
President of the Africa Development Bank, Mr Akinwunmi Adesina revealed this at the just concluded Dakar Summit, Senegal
Adesina said the continent does not produce enough food to feed its people and is overly dependent on food imports, which are themselves subject to volatile world prices and inflationary pressures.
Although, agriculture he admitted, is one of the main economic sectors and sources of employment in Africa, current production practices are too often outdated, small scale and unsuited to the demands of markets and a fast-growing population.
Food production continues to rely heavily on small-scale and near subsistence producers; whereas as Adesina has said, agriculture should be viewed as a business.
To improve farmers’ productivity and incomes, reduce post-harvest losses and increase agricultural output, and strengthen agro-food value chains,  he said the AfDB is focusing on providing modern technologies, quality seeds and inputs, modernizing agricultural tools, setting up standard processing infrastructures and adding value.
The aim is to move from traditional subsistence agriculture to a modern and competitive African agro-industrial sector that can feed the entire African continent and even compete on international markets.
Speaking on the rising food prices in the world, noted that said impact on households in Africa is serious exacerbating poverty. In sub-Saharan Africa, households spend up to 40 percent of their budget on food compared to 17 percent in developed economies.
According to him, “65 percent of the world’s remaining arable land is in Africa, which also has the most youthful and dynamic population of any continent”
All these, he said are some of the reasons the African Development Bank believes Africa is capable of feeding not only itself but the world’s 9 billion people by 2050.
“The African Development Bank views agriculture and agribusiness as a strategic priority for several reasons.
Securing food sovereignty the right of states to determine their own agricultural and food policies is critical to African countries overall economic and social development.”
“Recent external shocks, including Russia’s invasion of Ukraine in 2022, further demonstrated that Africa remains over-reliant on imports of food staples and agricultural inputs”
“Agriculture is also the mainstay of most African economies and a major employer of Africans”
Patoma Admin by — February 2, 2023 in Banking & Finance 0
Africa food, agricultural market to hit $1trn by 2030

By Favour Nnabugwu
 
The African Development Bank, AfDB has projected a market $1 trillion  increase yearly for Africa’s food and agriculture market by 2030.
The market is presently running at $280 billion per year but in achieving this ambitious target will require significant new investments and the removal of barriers to agricultural development.
President of the AfDB, Mr. Akinwunmi Adesina disclose this in Dakar Summit that much of the new investment in raising agricultural productivity, supporting infrastructure, climate smart agricultural systems and other improvements all along the food value chain will come from the private sector.
The African Development Bank offers support to all actors in the sector, regardless of their size: small farmers, traders, producers and distributors of inputs, commercial banks and industrialists.
 In addition to providing the necessary tools and know-how, the aim is to provide capital to all players in the agro-industrial value chains, enabling them to invest and develop with best practices.
In as much as the sector has its growth advantages so are obstacles to the development of it.
“The obstacles to the development of the private agro-industrial sector are both structural small size of the majority of farms, lack of infrastructure and financing and cyclical price volatility, disruption of supply chains, climate shocks”
Adesina said that a major obstacle to the development of private actors is the lack of credit financing, on the order of $27 billion to $65 billion per year, according to several studies.
“This is largely due to the perceived risk of investing in agriculture. To address this and attract private investors, the Bank is designing and deploying risk reduction tools.
Patoma Admin by — February 2, 2023 in Banking & Finance 0
President Buhari appoints Segun Awolowo, Secretary National Action C’ttee on AFCFTA

By Favour Nnabugwu

 

 

President Muhammadu Buhari has approved the appointment of Mr. Olusegun Awolowo as the Secretary, National Action Committee on the African Continental Free Trade Area (AfCFTA) for a tenure of four (4) years with effect from 19th December, 2022.

The appointment was made known via a statement issued by the Special Adviser to the President on Media and Publicity, Chief Femi Adesina.

According to the statement, “As Secretary, Mr Awolowo is expected to provide direction to the National Action Committee on the AfCFTA for effective coordination of relevant stakeholders towards the attainment of Nigeria’s strategic national interest.”

Mr Awolowo, a Law graduate from Ogun State University (now Olabisi Onabanjo University), Ago Iwoye, has served as Special Assistant to former Presidents Olusegun Obasanjo and the late Umaru Musa Yar’Adua.

He also worked with the Federal Capital Territory Administration (FCTA), Abuja as Secretary for Social Development and Transport from 2007 to 2011.

Mr Awolowo was the Executive Director/CEO of the Nigerian Export Promotion Council between 2013 and 2022, serving two tenures.

Patoma Admin by — February 2, 2023 in Industry, Trade & Investment 0
FG, Uni-Abuja, ACCI elicits NEPZA over proposed SEZ’s initiative

By Favour Nnabugwu

 

 

The Federal Government has said that the Nigeria Export Processing Zones Authority’s (NEPZA) accelerated initiatives at designating willing Universities as Special Economic Zones was aimed at speedily reconfiguring the country’s academic environment to match with global trends and competitiveness.

The Hon. Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo made the remark while playing host to Prof. Abdul-Rasheed Na’Allah, the Vice Chancellor of the University of Abuja, Prince Adetokunbo Kayode SAN, former Minister of Justice and Attorney-General of the Federation and Prof. Adesoji Adesugba, MD/CEO NEPZA in his office on Tuesday in Abuja.

Ademola said that the country’s industrialisation process could become much more prolific and all-encompassing when the country was able to coordinate its universities to also operate as profitable industries through the free zone scheme.

“The MD NEPZA has given a brief background of what this is all about and let me assure you that it is something that the federal government will be interested in.

“It is indeed a unique idea to be able to make the academic institutions have the freedom to breakaway from the over-dependence on government for funding. Once this initiative gains popularity, universities across the country will become centers of not only human capital development but of wealth creation.

“I am delighted with the strong partnership the university of Abuja has created with NEPZA and the Abuja Chamber of Commerce and Industry (ACCI) to pull this project through.

“You have to move fast so that we can get all things sorted out as quickly as possible. I will, however, like to assure you that you have my 100 per cent support.’’ the minister said.

On his part, the VC said that the visit was a follow up to a preliminary technical session held with NEPZA recently, adding that the both parties had worked assiduously in ensuring that the project was realized at the short possible time.

Na’Allah explained that the project required the blessing and support of the minister and the federal government, adding that the designation of the university as a special economic zone would not only put an end to our history of incessant strikes, but would transfer enormous wealth into the hands of all members of the university community.

He said further that the university was endowed with a number of solid minerals at commercial quantities, adding that opening the campus space for external investments using the free zone concept would be a landmark achievement.

“We want the university to become the richest institution in Nigeria. We will open the space for tourism, estate, mining, agriculture, car production plants, dairy farms, light rail services etc. Our proximity to the city and the airport makes movement seamless. This is our thinking, this is our project,’’ the VC said.

Speaking, Kayode also former president of ACCI, and Head of the Technical Committee, expressed delight to be part of the project.
He said that the ACCI had sourced sufficient investors and international financial bodies that had bought into the project.

“We are expected to reconfigure the way the country’s universities are run using the university of Abuja as a pilot scheme.

“We have been to some of the great universities around the world and seen that those institutions have direct influence in the development of their host cities. This is what we want to replicate here.’’ Kayode said.

You may recall that NEPZA and the Ekiti State Government are working on processes to establish the “Knowledge and Technology Special Economic Zone’’ in Ado Ekiti, just as it received an application from the Afe Babalola University Ado Ekiti (ABUA) for a similar project.

The NEPZA boss, therefore, said that the Authority was on the verge of showing how the university and chains of industries could jointly be operated within same location to enhance the country’s industrialisation process.

Patoma Admin by — February 2, 2023 in Industry, Trade & Investment 0