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Economy

Fed Govt Hires 200,000 Graduates

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  • Fed Govt Hires 200,000 Graduates 

Two hundred thousand graduates have been hired by the Federal Government as part of the N-Power Volunteer Corps which will ultimately engage 500,000 graduates.

Those engaged will resume on December 1 in the states where they will be deployed.

The new employees are distributed as follows: 150,000 as teachers, 30,000 to work in the agriculture sector and 20,000 in healthcare delivery. They will cover three specific programme assignments, according to the Presidency.

According to Senior Special Assistant on Media and Publicity Laolu Akande, they were employed two weeks ago and their names have been sent to states and the Federal Capital Territory (FCT), where they will be deployed to their specific assignments.

The names will be published this week on the N-Power internet portal. They are expected to start receiving SMS messages informing them of their selection as from today.

Akande said: “State governments and the FCT are also encouraged to post the names of the successful first batch applicants in their local government areas while there would be further public announcements.

“Between now and the end of the month, the states and the FCT would be engaged in deploying the graduates who would formally start working and earning their stipends on December 1, 2016.”

According to him, the N-Power Volunteer Corps is an expression of President Muhammadu Buhari’s commitment to invest in the human capital development of Nigerian citizens, particularly the young people.

The N-Power programmme, Akande said, is also an innovative means to enhance ailing public services in the area of basic education and primary healthcare.

“Also in the agric sector, it is aimed at achieving self-sufficiency by giving our farmers relevant advisory services.”

Akande said the Federal Government was encouraging the successful applicants to take the opportunity serious by learning the skills that will brighten their future.

He added: “They are also implored to serve their communities with commitment and dedication.

“For those who have not been selected at this time, there is a waiting list based on the total number of applicants, and subsequent batches will absorb more of the qualified applicants.

“All together, the N-Power will engage and train 500,000 young unemployed graduates. It is a paid volunteering programme of a two-year duration that engages graduates in their immediate communities, where they will assist in improving the inadequacies in the education, health, and agriculture sectors.

“The 500,000 graduates under the N-Power Corps programme will be trained in skills that will enable them exit after two years to economically viable jobs and business opportunities.

“As part of the programme, the participnts would own tablets that will contain information necessary for their specific engagements, as well as information for their continuous training and developments.

“Participants will be provided teaching, instructional, and advisory solutions in four main focus areas, and will be paid a monthly stipend of N30,000 during the programme.

“The four main focus areas are in basic education, agriculture extension services, public health and community education (civic and adult education).”

Besides the N-Power programme for undergraduates, Akande said there are other schemes for non-graduates, including N-Power Knowledge, which would select 25,000 young Nigerians and N-Power Build 75,000, all of whom shall be trained and paid during the duration of the scheme.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Economy

NNPC Supplies 1.44 Billion Litres of Petrol in January 2021

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The Nigerian National Petroleum Corporation (NNPC) supplied a total of 1.44 billion litres of Premium Motor Spirit popularly known as petrol in January 2021.

The corporation disclosed in its latest Monthly Financial and Operations Report (MFOR) for the month of January.

NNPC said the 1.44 billion litres translate to 46.30 million litres per day.

Also, a total of 223.55Billion Cubic Feet (BCF) of natural gas was produced in the month of January 2021, translating to an average daily production of 7,220.22 Million Standard Cubic Feet per Day (mmscfd).

The 223.55BCF gas production figure also represents a 4.79% increase over output in December 2020.

Also, the daily average natural gas supply to gas power plants increased by 2.38 percent to 836mmscfd, equivalent to power generation of 3,415MW.

For the period of January 2020 to January 2021, a total of 2,973.01BCF of gas was produced representing an average daily production of 7,585.78 mmscfd during the period.

Period-to-date Production from Joint Ventures (JVs), Production Sharing Contracts (PSCs) and Nigerian Petroleum Development Company (NPDC) contributed about 65.20%, 19.97 percent and 14.83 percent respectively to the total national gas production.

Out of the total gas output in January 2021, a total of 149.24BCF of gas was commercialized consisting of 44.29BCF and 104.95BCF for the domestic and export markets respectively.

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Economy

NNPC Says Pipeline Vandalism Decrease by 37.21 Percent in January 2021

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The Nigerian National Petroleum Corporation (NNPC) said vandalisation of pipelines across the country reduced by 37.21 percent in the month of January 2021.

This was disclosed in the January 2021 edition of the NNPC Monthly Financial and Operations Report (MFOR).

The report noted that 27 pipeline points were vandalised in January 2021, down from 43 points posted in December 2020.

It also stated that the Mosimi Area accounted for 74 percent of the total vandalised points in Janauray while Kaduna Area and Port Harcourt accounted for the remaining 22 percent and 4 percent respectively.

NNPC said it will continue to engage local communities and other stakeholders to reduce and eventually eliminate the pipeline vandalism menace.

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Economy

Nigeria’s Food Inflation Hits 22.95 Percent in March 2021

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Food inflation in Africa’s largest economy Nigeria rose by 22.95 percent in March 2021, the latest report from the National Bureau of Statistics (NBS) has shown.

Food Index increased at a faster pace when compared to 21.70 percent filed in February 2021.

Increases were recorded in Bread and cereals, Potatoes, yam and other tubers, Meat, Vegetable, Fish, Oils and fats and fruits.

On a monthly basis, the food sub-index grew by 1.90 percent in March 2021. An increase of 0.01 percent points from 1.89 percent recorded in February 2021.

Analysing a more stable inflation trend, the twelve-month ended March 2021, showed the food index averaged 17.93 percent in the last twelve months, representing an increase of 0.68 percent when compared to 17.25 percent recorded in February 2021.

Insecurities amid wide foreign exchange rates and several other bottlenecks that impeded free inflow of imported goods were responsible for the surged in prices of goods and services in March, according to the report.

The Central Bank of Nigeria-led monetary policy committee had attributed the increase in prices to scarcity created by the intermittent clash between herdsmen and farmers across the nation.

However, other factors like unclear economic policies, increased in electricity tariffs, duties, subsidy removal and weak fiscal buffer to moderate the negative effect of COVID-19 on the economy continue to weigh and drag on new investment and expansion of local production despite the Federal Government aggressive call for improvement in domestic production.

Nigeria’s headline inflation rose by 18.17 percent year-on-year in the month under review.

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