NEWS AGENCY OF NIGERIA
Fitch, GCR upgrade Wema Bank’s credit rating, affirm positive outlook

Fitch, GCR upgrade Wema Bank’s credit rating, affirm positive outlook

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By Taiye Olayemi

 

 

Credit rating agencies, Fitch and GCR, have upgraded the ratings of Wema Bank, further underscoring its capacity for long-term sustainability within the African banking ecosystem.

 

According to a statement by the bank on Thursday, these ratings raise the projection on Wema Bank’s outlook from stable to positive.

 

Fitch, an American rating agency, upgraded the bank’s National Long-Term Rating to ‘A-(nga)’ from ‘BBB(nga)’, while affirming its Long-Term Issuer Default Rating (IDR) at ‘B-‘.

 

African rating agency, GCR, also upgraded Wema Bank’s National scale long and short-term issuer rating to BBB+(NG)/A2(NG) from BBB(NG)/A3(NG), with a stable outlook

 

Commending Fitch and GCR for the objective assessment and projection of the bank’s future, its Chief Executive Officer, Mr Moruf Oseni, reiterated Wema Bank’s promise to its customers and shareholders.

 

 

 

Oseni asserted that Wema Bank’s journey has just begun at 80, saying, “Wema Bank is more than just a provider of financial services. This great institution represents a bold and firm statement to the world, ‘Nigerian-owned can stand the test of time’.

 

 

 

“Wema Bank was founded on the precipice of catering to the needs of Nigerians when no one else would. 80 years later, that legacy lives on and we are more fueled than ever to keep that timeless legacy thriving.”

 

 

 

Oseni said that Wema Bank had navigated every challenge and consistently developed solutions that accelerate progress across various industries beyond banking.

 

 

 

 

 

“Today, Wema Bank stands stronger than ever at 80 years. This is what happens when you devote your ‘all’ to self-improvement and delivering value to the people you serve.

 

 

 

“80 years seems like a lot and it is, but it is nothing compared to what lies ahead. These upgrades are very significant and represent good news for us as a bank.

 

 

 

“It stands as a strong testimony to the great work we have all put in in the last one year,” he added.

 

 

 

Oseni noted that Wema Bank had built a legacy of impact, resilience, empowerment, innovation, dominance, transformation and excellence since 1945.

 

 

 

He said that the bank had also pioneered a paradigm shift in banking, connecting banking with lifestyle and leveraging innovation.

 

 

 

According to him, the bank has introduced a new era of impactful banking where customers’ needs are proactively met with practical solutions tailored to every stage of their lives.

 

 

 

“Beyond being Nigeria’s longest surviving indigenous bank, Wema Bank’s intentional approach to banking has arguably earned it the title of Nigeria’s most innovative bank, a legacy that continues to reflect in the bank’s numbers.

 

 

 

“From a steady increase in customer volume to diversity in customer-base, strategic variety in range of solutions to increased shareholder confidence and upturns across several financial metrics, Wema Bank has proven to be the bank that has not just built a legacy of 80 years of impact.

 

 

 

“It is significantly, the indigenous financial institution with a future of limitless possibilities; one that will outlive expectations, transcend time and prove in the centuries to come, that Nigerian businesses can last.

 

 

 

“It comes as no surprise that credible ratings agencies, Fitch and GCR, have upgraded the bank’s ratings and affirmed a positive and stable outlook for the bank.

 

 

 

“Wema Bank will continue to exceed all expectations, support the people on all levels and never relent in its promise to keep delivering optimum value to every stakeholder,” he said.

 

 

 

in 2024, Pan-African Rating Agency, Agusto & Co, upgraded Wema Bank’s ratings to Bbb+ with ESG Score of 2 and confirmation of stable outlook, citing improved profitability despite macroeconomic headwinds, a lower impaired loan ratio, a better deposit mix, and strong shareholders’ support.

 

 

 

Also in same year, GCR upgraded Wema Bank Plc’s national scale long-term issuer ratings to BBB(NG) from BBB-(NG) and affirm the short-term issuer rating of A3(NG), with the Outlook revised to Stable; while Fitch Affirmed the Bank at ‘B-‘ with Outlook, Stable. (NAN) (www.nannews.ng)

 

Edited by Olawunmi Ashafa

NIM hosts chess tournament to boost critical thinking in students

NIM hosts chess tournament to boost critical thinking in students

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By Rukayat Moisemhe

 

The Nigerian Institute of Management Chartered (NIM) has hosted a chess tournament to stimulate critical thinking in primary and secondary school students in Lagos State.

The News Agency of Nigeria (NAN) reports that the tournament is an advocacy initiative of the institute in partnership with Dynamic Chess Ville, a chess foundation.

The President of NIM, retired Commodore Abimbola Ayuba, said at the invitational chess competition on Thursday in Lagos that the competition brought together young chess talents to interact and gain exposure.

He said that the tournament was the maiden edition and designed to promote inclusivity and nurture key life skills such as strategic thinking, discipline and sportsmanship through the game of chess.

“It also seeks to foster spirit of healthy competition, empower young minds and celebrate intellectual excellence.

“At the end of today’s competition, trophies, medals and prize money will be won while the participating schools will receive certificate of participation,” he said.

Ayuba said that the winner in the primary school category would win N150,000 while the first runner up would go home with N100,000, and second runner up, N50,000.

He said that in the secondary school category, the winner would get N200,000 while first and second runners up would get N150,000 and N100,000, respectively.

Ayuba said that from 2026, the institute would consider expanding the scope of the competition to make it a national event.

“What we have done is to create a garden of future champions in chess where they can be groomed to do exploits internationally,” he said.

In his remarks, Mr Tolulope Fasinu, Managing Director, Dynamic Chess Ville, said the tournament served as an opportunity to invest in the development of schoolchildren.

Fasinu said that chess was an important sport as it helped to improve cognitive abilities and calculation skills, boost self confidence and sharpen decision making skills.

He urged governments and corporate organisations to invest in chess to widen its reach, improve it outcomes and encourage participation in chess competitions at the global level.

NAN reports that the participating schools in the primary category include Chess in Slums Africa, Indian Language School, Bethany Hall School, and Home Science Association Nursery and Primary School.

The others are Dupeola Childrenland School, Dansol Nursery and Primary School,Favour of God International School, and Priceless Jewel Elementary School.

In the secondary school category, the participating schools include Chess in Slums Africa, Indian Language School, Home Science Association Secondary School, Grenville School, Kings College and Queens College.

The others are Value Place School, Favour of God International School, Chess with Laura and Dynamic Chess Ville.

In the primary school category, Bethany Hall School secured the first position while Chess in Slums Africa and Home Science Association Nursery and Primary School emerged second and third, respectively.

In the secondary school category, Home Science Association Secondary School took the first position while Indian Language School and Dynamic Chess Ville came second and third, respectively. (NAN) (www.nannews.ng)

 

Edited by Ijeoma Popoola

 

Delegates laud Nigeria for iconic hosting of UN 68th CAF meeting

Delegates laud Nigeria for iconic hosting of UN 68th CAF meeting

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By Joshua Olomu

 

Delegates and other participants have commended Nigeria for successfully hosting the 68th Meeting of the UN Tourism Regional Commission for Africa (CAF), describing it as memorable.

 

They gave the commendation in separate interviews with the News Agency of Nigeria (NAN) on the red carpet of the closing Gala on Thursday night.

 

The 68th CAF was held between June 11 and June 13 in Abuja, with the theme “Boosting Social Impact and Education on Tourism through AI, Innovation and Creative Industries in Africa”.

 

It brought together top government officials across Africa, including Ministers of Tourism and other key players in the tourism industry within the continent and beyond.

 

Some of the stakeholders who spoke with NAN said the event was iconic and it would leave a lasting impact on participants and the industry.

 

Elcia Grandcourt, UN Tourism Regional Director for Africa, said: I must say we had a very interesting and successful meeting in these two days.

 

“I want to take this opportunity to thank our host, the Federal Government of Nigeria, especially, Hanatu Musa Musawa, the Minister of Arts, Culture, Tourism and Creative Economy of Nigeria.

 

“She has wonderfully hosted us and chaired beautifully this meeting that has brought about ministers of tourism from the Africa region.

 

“Over these two days, we discussed matters related to the programme of work of Africa, but more so , looking at how we are integrating artificial intelligence and digital transformation within the tourism sector.

 

“As you know, Nigeria is a hub, a hotspot for creativity; we also used these two days to host a technical workshop that has further built up the capacity of young leaders in Nigeria’s tourism sector.

 

“Once again, this has been a very successful event.”

 

Mr Chuks Anyaduba, curator of the Flavours of Nigeria Festival in Ontario, Canada, congratulated the Minister of Arts, Culture, Tourism and Creative Economy of Nigeria and her team for the historic event.

 

He said hosting culture and tourism stakeholders across Africa and beyond would resonate and further amplify Nigeria’s rich culture and tourism potential on the global stage.

 

“I want to say that Nigeria has actually had a successful hosting of this UN World Tourism event for Africa, and I believe that a benchmark has been placed.

 

“Our government just needs to be smarter by putting more money in tourism in Nigeria, with the National Assembly should have a larger budget for the ministry.

 

“This is very important so that we can actually sell the Nigerian stories as captured in the Destination 2030- Nigeria Everywhere agenda of the ministry,” he said.

 

Rodney Sikumba,Minister of Tourism and Wildlife, Republic of Zambia, said the meeting offered unique opportunities for ministers of tourism across the continent to form a common front for Africa’s tourism.

 

Sikumba, who was elected at the meeting as Chairperson for the UN CAF for 2025-2027, said the event has set a new phase for collaborations in regional tourism.

 

“When I talk about a united Africa, I am talking about an Africa which is actually championing a cause that will shepherd this particular continent to for better.

 

“As African ministers in charge of tourism, we are here to discuss matters of common cause, which is obviously to champion what we are trying to achieve within the tourism sector.

 

“I am very delighted that this year’s CAF is actually being hosted by Abuja, in Abuja, Nigeria.

 

“For a very long time, we’ve been competing as African countries, but now we are here to discuss matters of common cause and to form formidable collaborations,” he said.

 

Earlier in her opening remarks, Hannatu Musawa, Minister of Art, Culture, Tourism, and Creative Economy, said the future of African prosperity depends on how its culture, creativity and technology are harnessed to empower people.

 

She, therefore, urged her colleagues to work toward strengthening ties among Africa states for the continent to stand tall on the global tourism index.

 

“I feel that there is a new path for tourism in Africa, and it’s amazing that myself and other ministers of tourism have really gotten along in a way that we now share a common vision.

 

“I promise you, together we are going to be very aggressive in ensuring that we really give our continent a sort of value and unlock its fully for tourism,” she said.(NAN)(nannews.ng)

 

 

 

Edited by Ekemini Ladejobi

Mental health advocate charges mothers to break silence on postpartum 

Mental health advocate charges mothers to break silence on postpartum 

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By Gbenga Dada/Oluwafunke Ishola

 

 

A mental health advocate, Mrs Chioma Ezeakonobi, has advised new mothers to break the silence surrounding postpartum depression, saying this will enable them to receive support during their healing journey.

 

Ezeakonobi spoke with the News Agency of Nigeria (NAN) on Friday in Lagos, while sharing her personal struggle with postpartum depression, a mental health condition that affects many women worldwide.

 

According to her, the condition is an underdiagnosed and underrated illness in many countries in spite of the danger it portends for ill health and death.

 

“The cycle of silence attached to postpartum depression leaves many women to suffer in silence,” she said.

 

Narrating her experience, Ezeakonobi disclosed that it began after the birth of her second child, saying she experienced anxiety, tearfulness, fatigue, and persistent sadness.

 

In spite of her struggles, Ezeakonobi said she found solace in gaining knowledge about the condition and managing it on her own.

 

“With the support of my family, particularly my husband, I was able to cope with the condition.”

 

Her experience inspired her to create awareness about postpartum depression, and wrote a book titled “Navigating Postpartum Depression”.

 

The book is a compilation of her experience and those of other mothers, who have gone through similar struggles.

 

Ezeakonobi aims to use her platform to advocate and break the silence surrounding postpartum depression and support women worldwide.

 

She urged pregnant women and new mothers to be aware of the symptoms of the condition and seek care and support when needed.

 

According to the World Health Organisation (WHO), postpartum depression is a common and treatable mental health condition affecting women after childbirth.

 

It can negatively impact both the mother’s well-being and the child’s development.

 

Postpartum depression involves emotional highs and lows, frequent crying, fatigue, guilt and anxiety, affecting about one in seven new moms.

 

In Nigeria, its prevalence rates range from 10 per cent to 36.5 per cent.

 

WHO emphasises the importance of screening and early intervention for postpartum depression, along with providing effective treatments and support services for affected mothers. (NAN) (www.nannews.ng)

 

Edited by Esenvosa Izah/Folasade Adeniran

NAICOM moves to safeguard retiree life annuity funds

NAICOM moves to safeguard retiree life annuity funds

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By Taiye Olayemi

 

The National Insurance Commission (NAICOM) says it will soon release supplementary guidelines aimed at further securing Retiree Life Annuity (RLA) funds, to provide greater protection for annuitants.

 

Mr Moruf Apampa, a member of the Communication and Stakeholder Engagement Sub-Committee of the Insurers’ Committee, made this known on Wednesday at a news conference held after the June 2025 Insurers’ Committee meeting in Lagos.

 

Apampa, who is also the Managing Director of NSIA Insurance Ltd., said the forthcoming guidelines were part of NAICOM’s broader efforts to enhance the regulatory environment and ensure that funds dedicated to retirees were properly safeguarded.

 

He added that the supplementary regulations would further reinforce public trust in the insurance sector and demonstrate NAICOM’s resolve to uphold the rights of retirees and policyholders.

 

“NAICOM has brought out a supplementary guideline on the business of annuity to build further confidence in the market.

 

“NAICOM is coming up with additional guidelines to ensure that annuitants are actually protected.

 

“The commission is taking proactive measures to ensure that no company goes under or annuitants are not paid their normal monthly allowance.

 

“This is to ensure no failure recurs. These guidelines will be released soon,” he said.

 

Apampa noted that NAICOM was also looking into simplifying claims documentation and payment processes to enhance customer experience.

 

According to him, the commission is also working on repositioning the insurance industry, which includes developing guidelines on cyber risk.

 

He said, “NAICOM is coming up with new guidelines that will support the initiative of the government in improving the economy, one of which is the market guidelines.

 

“The commission has seen significant improvement in claims payments and has commended the industry, advising on further improvement.

 

“On solvency compliance, NAICOM also commended insurers who are observed to be in tune with the regulations, and hopefully, there will be significant improvement in the industry’s second quarter report.”

 

Explaining further on the supplementary guidelines, Mr Abba Halil, Head of Corporate Affairs at NAICOM, said, “This is a revised guideline that is being put in place in view of the fact that regulation is dynamic.

 

“As situations within the industry change, there is need to make certain decisions. So, NAICOM is not bringing up new guidelines but a set of revised guidelines in which improvements have been made.”

 

The committee comprises insurance industry executives and NAICOM officials, and serves as a platform for collaboration and policy dialogue aimed at sectoral growth.(NAN) (www.nannews.ng)

 

Edited by Olawunmi Ashafa

Robust capital market crucial for Nigeria’s economic prosperity- NGX Chairman

Robust capital market crucial for Nigeria’s economic prosperity- NGX Chairman

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By Taiye Olayemi

 

Chairman, Nigerian Exchange Group, Dr Umaru Kwairanga, says the Nigerian Capital Market has experienced exponential growth since he assumed office in 2022.

 

He reiterated the group’s commitment to deepening Nigeria’s capital market in alignment with President Bola Tinubu’s vision of growing the nation’s GDP to one trillion dollars by 2030.

 

In a statement issued in Lagos, Kwairanga was said to have made the remarks while delivering a keynote address at the “For the Love of Our Country (FLOC) 2025” symposium, held at Bayero University Kano (BUK) on Friday.

 

He spoke on the theme, “Reimagining Nigeria’s Economy for a Prosperous Future: Where We Were, Where We Are, and Where We Should Be in the Next Decade”.

 

According to him, the All Share Index (ASI) rose from 48,837 basis points to 111,742 basis points, while market capitalisation grew from N26.375 trillion to N70.463 trillion by May 2025.

 

He said that bond markets were included with total market capitalisation now at over N121 trillion.

 

“This growth shows that we have more than doubled the indices of both our equity and bond markets in just over two years.

 

“However, our goal is even more ambitious as we work towards making the capital market central to achieving a $1 trillion economy,”he said.

 

Kwairanga emphasised the strategic importance of a robust capital market in financing long-term infrastructure, encouraging formalisation of businesses, and mirroring the nation’s true economic potential.

 

He noted with concern that Nigeria’s market capitalisation remains less than 20 per cent of Nigeria’s GDP, compared to South Africa’s Johannesburg Stock Exchange which exceeds its national GDP.

 

To address this, he outlined several initiatives being undertaken by NGX Group and its regulators, particularly the Securities and Exchange Commission (SEC), to enhance market transparency and efficiency.

 

He said these include the dematerialisation of share certificates, resolution of unpaid dividend backlogs, and the recent reduction in clearing time for secondary market transactions to T+2.

 

“We are working closely with regulators and stakeholders to make our market more accessible and attractive.”

 

He said that major listings in the oil and gas sector, such as the planned sale of a stake in NNPC Ltd. and the anticipated listing of Dangote Petrochemicals, would significantly boost market capitalisation.

 

He also spoke on digital innovation as a key driver of market participation, citing the launch of NGX Invest, a digital platform for primary market offers and financial literacy campaigns targeting youths, students, and members of the National Youth Service Corps (NYSC).

 

The chairman revealed the ongoing engagements with institutional investors such as pension fund administrators and mutual funds.

 

He also hinted on the development of sophisticated products like exchange-traded funds, derivatives, and ethical investment instruments.

 

He highlighted efforts to integrate African capital markets through cross-border linkages that would allow investors in Nigeria to trade shares listed on exchanges in countries like Ghana and vice versa.

 

In spite challenges such as declining disposable income, infrastructural deficits, and global economic headwinds, Kwairanga expressed optimism that these could be surmounted.

 

“We are confident that Nigeria will have the broader, deeper, and more sophisticated capital market it deserves before the end of this decade,”he said. (NAN) (www.nannews.ng)

 

Edited by Remi Koleoso/Olawunmi Ashafa

Statistics drives innovation, economic development —Yabatech Rector   

Statistics drives innovation, economic development —Yabatech Rector  

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Statistics drives innovation, economic development —Yabatech Rector

 

 

 

 

By Millicent Ifeanyichukwu

 

The Rector of Yaba College of Technology, Dr Ibraheem Abdul, says statistics is the unseen force driving everything from life-saving drug development to understanding climate change impacts in Nigeria.

 

Abdul made the remark at the 18th Inaugural Lecture18th Inaugural Lecture of the institution on Thursday.

 

The News Agency of Nigeria (NAN) reports that the inaugural lecture had the theme: “Unlocking Insights: The Power of Statistics in Today’s Data – Driven World”.

 

The rector said statistics had been a key driver to innovation because it provided guidance in evidence-based decision-making and policy formulation.

 

Abdul noted that in today’s data driven world, it had been shown that statistics was not just a technical discipline but a powerful tool used to unlock insights and shape the future.

 

The rector asserted that by transforming raw data into meaningful knowledge, statistics could empower them to address global challenges, to innovate across industries and to improve the quality of life in general.

 

“The inaugural lecturer of today was able to show to us that we all need statistics in all aspects of our lives, and encouraged us to embrace the use of statistics, whatever our area is.

 

“However, choosing a statistical technique or tool to use in statistics has become a major problem, especially to individuals that are not well grounded in the field of statistics.

 

“It is important to state that the users of statistics need to keep abreast with quite a number of facts to correctly decide which statistical technique to use for any particular data in terms of analysis.

 

“Proven by our inaugural lecturer of today, statistics is now a cornerstone of every scientific inquiry, even in the fields of medicine, engineering, science, social sciences, we all rely heavily on statistical phenomena,” he said

 

Delivering the lecture, Dr Olusesan Olufolabo, a Senior Lecturer in the Department of Statistics, Yabatech, provided an assessment of the relative importance of factors associated with neonatal and post-neonatal mortality in Nigeria.

 

Olufolabo said he was able to establish the association between health, infant mortality, and some major demographic, socio-economic and health care variables.

 

He said that according to data on reproductive health histories of over 8,000 women between age 15-49, the study had shown that high infant mortality was experienced by children born to mothers who were uneducated and mothers who lived in rural areas.

 

The don stated that the study had also shown that breastfeeding was one of the important correlates of mortality, and cessation of breastfeeding increased the risk of mortality significantly during the first year of life.

 

According to him, as a result of this, a national policy and advocacy on exclusive breastfeeding for the first six months of life of a child was made from the study, propagated and sponsored by UNICEF.

 

He charged the institution to do more in the area of scientific studies, especially in the use of statistical concepts, encouraging the college to include statisticians in all observational and experimental studies right from the value stage.

 

Olufolabo recommended that the college should have a laboratory for interdisciplinary statistical analysis, and that the laboratory should be situated in the department of statistics.

 

The don encouraged Yabatech management to have an experienced statistician in the academic planning unit, and not just someone from the department of statistics.

 

He also reminded the management of the college that there could be no planning without statistics. (NAN) (www.nannews.ng)

 

Edited by Vivian Ihechu
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UNILAG DVC tasks students on problem solving with technology

UNILAG DVC tasks students on problem solving with technology

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By Henry Oladele

 

The Deputy Vice-Chancellor, University of Lagos (UNILAG), Prof. Foluso Lesi, on Thursday urged students to intensify problem solving with technology to advance the society.

 

Lesi gave the task at the Hack for Health Hackathon grand finale organised by the National Information Technology Hub (NITHUB) at UNILAG.

 

The News Agency of Nigeria (NAN) reports that the event had the theme: ‘Bots, Brain and Bandage’.

 

Lesi noted that the NITHUB Hack for Health Hackathon focused on innovation in health technology.

 

He said that the competition provided platforms for students to develop technological solutions and collaborate on innovative ideas.

 

He commended the competitors for efforts, urging that they should commit to finding technological solutions to advance Nigeria.

 

“We know that the future belongs to this generation, and we can make a difference.

 

“Talking about the theme Hack for Health, I am speaking from the point of view of a doctor.

 

“I know that currently, given the size of Nigeria and the number of health professionals across the city, there may not be enough of us across the city to make that difference.

 

“This is where technology bridges that gap because even in the remotest areas, diagnosis and access to healthcare can remain possible through artificial intelligence.

 

“Think of any problem, whether in diagnosis, interpreting results and images, particularly in things like radiography, where you can take an image, send it somewhere else and analyse it.

 

He said he was proud to be associated with th

 

According to him, the teams in the competition were multi-disciplinary.

 

“That is good because you cannot be talking about solutions without bringing together diverse perspectives.

 

“It is when you have diverse perspectives in addressing any problem that you will get the most robust solution.”

 

Lesi said there were 400 teams which applied for the hackathon, adding that 200 teams were selected and the best 10 made it to the grand finale.

 

Dr Victor Odumuyiwa, the Director of NITHUB, UNILAG, said the programme was aimed at encouraging problem solving through the use of technology.

 

“Two things informed this programme. Number one is: we want to solve African problems and number two is: we want to use a new technology in solving the problem, which is Artificial Intelligence.

 

“The final teams came from different states, eventually scaling down to the last 10.

 

“We also have some from UNILAG. It is a programme targeted at the whole ecosystem, not just UNILAG.

 

“We plan to make the competition yearly. I mean, this particular one. There are other hackathons but this particular one, we plan to make it yearly,” he said.

 

NAN reports that Project Theia came first in the competition, winning 2,500 dollars.

 

Team Castle came second and received 1,500 dollars, while Team Precision emerged third and got 1,000 dollars. (NAN)

 

Edited by Gregg Mmaduakolam/Ijeoma Popoola

MAN urges stronger engagement to modernise wood industry

MAN urges stronger engagement to modernise wood industry

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By Rukayat Moisemhe

 

Mrs Ngozi Oyewole, the Chairperson, Wood and Wood Products Sector, Manufacturers Association of Nigeria (MAN), has urged stronger engagement with government on policies to promote financial access, expansion and modernisation of the wood industry.

 

Oyewole made the call in an interview with the News Agency of Nigeria (NAN) on Thursday in Lagos.

 

She advocated the creation of a wood industry development fund that would provide grants and low interest loans for Small and Medium Enterprises SMEs to support expansion drive.

 

She added that Nigeria should explore trade agreements that open up international markets and drive participate in international trade fairs to showcase the country’s products and establish valuable connections.

 

Oyewole noted that the wood sector had enormous potential to significantly contribute to Nigeria’s Gross Domestic Product (GDP).

 

She said the sector currently accounted for approximately two per cent of the country’s GDP.

 

She, however, stated that only the combination of right strategies and inclusivity could enhance productivity and create a thriving wood industry for the country.

 

She affirmed that by addressing skills gaps, promoting inclusivity, and implementing the right strategies, wood contribution to industrial development and economic growth could increase.

 

“One major strategy to consider to drive growth in this sector is investment in technology and we must embrace modern technologies that enhance productivity.

 

“By collaborating with technology providers, we can access advanced machinery that streamlines production and improves quality and lower production costs,” she said.

 

Oyewole also emphasised the need to address skill gaps by providing tailored training programmes, particularly for women.

 

This, she stated, would equip them with the skills necessary for operating modern equipment and leading in the industry.

 

She said initiatives like the National Skills Development Programme could be tailored to include specialised training for women in the wood sector, empowering them to take on leadership roles.

 

“As a female leader in this sector, I understand the importance of inclusivity.

 

“Initiatives such as mentorship programmes for women can empower them to pursue careers in this field, take on leadership roles and bring diverse perspectives to the industry,” she added.

 

Oyewole also urged players in the sector to adopt sustainable forestry practices to ensure the long-term viability of resources.

 

This, she said, included responsible sourcing and compliance with environmental regulations.

 

“We must also enhance investment in research and development to drive innovations in product design and manufacturing processes.

 

“Collaborating with universities and research institutions can yield new materials and techniques that meet market demands.

 

“Strengthening associations such as the wood products manufacturers association will allow us to share best practices and resources.

 

“A united voice can advocate more effectively for the needs of the sector, facilitating collaboration among stakeholders,” she said.

 

The expert also expressed her support for the Nigeria First Policy introduced by President Bola Tinubu.

 

She said the policy aligned with the vision in the wood sector to harness local resources and skills to foster sustainable growth and reduce dependency on imports.(NAN)(www.nannews.ng)

 

Edited by Chinyere Joel-Nwokeoma

Group seeks inclusive climate action plans in Lagos State

Group seeks inclusive climate action plans in Lagos State

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By Lilian U. Okoro

 

Analysis by The Aiding Lives Initiative for the Vulnerable (ALIVE), an NGO, has identified gender gaps in the Lagos Climate Action Plan Policy.

 

Accordingly, the group has called for the development of inclusive climate action plans that incorporate coastal community voices, lived experiences, and importance of including women in building a climate-resilient state/environment.

 

The Executive Director of the organisation, Ms Pandora Umechukwu, made the call at a Stakeholders’ Interface Meeting on Developing a Gender-Sensitive Climate Action Policy in Lagos State on Monday.

 

The News Agency of Nigeria (NAN) reports that the meeting had the theme: “Amplifying Women’s Voices in Lagos State Climate Action Policy”.

 

Umechukwu said that the meeting provided a platform for women from flood-prone communities like Makoko, Ago-Egun, and Badia, to directly engage policymakers and share their lived experiences of climate impacts.

“We have gathered a diverse group of stakeholders to share knowledge, review findings, and begin the collaborative process of developing a Gender-Sensitive Climate Action Policy for Lagos State.

“A policy that acknowledges the differential impact of climate change n women and children, their experiences, knowledge, and leadership in crafting lasting solutions.

“The idea is amplify the voices of these coastal communities who are living through the hard impacts of ocean surge and environmental degradation.

“They endure the brunt of the climate crisis without adequate representation in policy dialogue,” Umechukwu said.

The event featured the presentation of a Gender Analysis of the Lagos State Climate Action Plan (2020–2025).

The analysis, led by ALIVE and eco-activist collaborators, revealed key gaps in the policy’s engagement with women, including absence of gender-disaggregated data and limited inclusion of women in planning and implementation.

 

Others were lack of funding for gender-focused climate adaptation, gender mainstreaming mentioned, but without clear strategies or funding, and unaddressed gender specific impacts on women.

Umechukwu explained that the meeting interface was about changing that narrative, saying that women and children in coastal communities bear the greatest burden of climate impacts.

She said  that women do not have access to clean energy, mobility, and flood protection.

She decried that women faced gender-specific vulnerabilities due to their dual roles as caregivers and income earners, saying that during floods, they were responsible for ensuring the safety of children, sourcing food, managing water collection, and navigating destroyed sanitation systems.

According to her, unlike men, women are rarely included in decision-making processes, which limits their access to critical information and resources.

“Transport, housing, and energy policies failed to address women’s unique needs. Informal women-led businesses are often displaced without support.

“The current Climate Action Plan does not include specific gender-responsive measures.

“Ocean surges and environmental degradation have deeply disrupted life for women and children in Lagos’ coastal communities.

“Women are most affected by flooding and ocean surges, but are least involved in the solutions. We aim to elevate community voices and propose transformative, inclusive policy changes,” she said.

The meeting also featured a health talk by Dr Anulika Madueke, a medical doctor, who addressed the public health risks of flooding on women and children, calling for stronger preventative practices and applauded the resilience of the community women.

A representative from the Ministry of Environment and Water Resources lauded the work done so far, acknowledging the clean-up efforts, climate resilience trainings, and grassroots policy analysis as “commendable steps” toward inclusive environmental governance.

 

 

As the current Climate Action Plan expires in 2025, the meeting concluded with clear calls to action, to develop inclusive climate action plans that ensure communities were actively engaged and consulted at every stage before, during, and after the planning process.

Officials present at the engagement expressed commitment to deeper engagement with communities and recognised the importance of including women in building a climate-resilient state.

The meeting had in attendance representatives from the Lagos State Ministry of Environment and Water Resources, Chairmen and Directors of Environmental services of Bariga LCDA and Apapa-Iganmu LCDA, Community Development leaders and 100 women from coastal communities.

ALIVE is a nonprofit Organisation committed to empowering vulnerable women and children by promoting health, well-being, environmental resilience, enabling them to lead safe and fulfilling lives.(NAN)(www.nannews.ng)

 

Edited by Vivian Ihechu

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