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Npower News Today 2020, Over 5m Applies for Npower Batch C, Selection to be Transparent -Farouq

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Npower News Today 2020 on Batch C, on Permanent Placement and Stipend Payment. Also, Npower News Today Private Sector Engagement

The Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Farouq, has said over 5 million applications were received for N-power Batch C and that the selection process will be transparent.

The minister, who spoke during an interaction with National Social Investment Program (NSIP) Focal Persons, Program Managers and State Operations Coordinating Unit (SOCU) officers in Abuja, said “We have also received over 5 million applications from proposed N-Power Batch C and we are currently in the process of selecting the qualified beneficiaries coming into the program, Farouq said.

“I assure all the applicants and Nigerians that the selection process will be transparent.

On Npower Batch A and B – Npower News Today 2020

She said Npower Batch A and B beneficiaries have been successfully exited from the program in June and July, respectively. The minister also noted that they are working on a permanent job for exited beneficiaries.

She said: “As we renew our commitment to the service of humanity, I will like to seize this opportunity to, once again, state that we have successfully exited Batch A and B of the N-Power beneficiaries in June and July, respectively, and we are still working towards ensuring a transition plan that will further engage or absorb them into other programmes.

“We have also received over 5 million applications from proposed N-Power Batch C and we are currently in the process of selecting the qualified beneficiaries coming into the programme. I assure all the applicants and Nigerians that the selection process will be transparent.

“Furthermore, I wish to reiterate that I have given approval for the payment of stipends for the exited beneficiaries of batches A and B up to the month of June 2020, including that of the independent monitors.

“Also, the final payment of stipend for Batch B is almost ready for transmission to the office of the Accountant General of the Federation for final checks and payment.

“I therefore appeal for patience and understanding from beneficiaries omitted for payment in previous months and those in batch B who are to get their final payment.”

“There is no doubt that the National Social Investment Programmes (NSIP) are critical components of the present Administration’s activities and are vehicles through which His Excellency President Muhammadu Buhari‘s vision of lifting 100 million people out of poverty in 10 years will be achieved.

“Since my assumption of office, I have remained focused on ensuring the sustainability and improvement of the programmes bearing in mind the high impact value they have to teeming Nigerians, whose lives have been significantly disrupted as a result of the present humanitarian and economic situation in the country.

“It is against this background that I urge everyone of you to continue to give in your best to ensure the lives of those we are called to serve are made better. We must not lose sight of the fact that each one of the vulnerable persons are not mere numbers or statistics but real people with dreams, hopes, aspirations and a desire to live decent lives in peace and safety.”

Government to Engage Private Sector to Absorb Npower Exited Beneficiaries

The government has said there is an ongoing engagement with private sector operators to absorb some of the exited beneficiaries of the Npower programme. Also, government said it is working to create space for them in the ministries and government agencies.

Job Opportunities for Npower Exited Beneficiaries

We have put together a list of jobs exited beneficiaries can start pending when the federal government will perfect its plan. We listed jobs and how you can get involved to avoid issues that may arise from the government usual failure to create a permanent job for exited beneficiaries.

N-Power Beneficiaries Receives N13.3 Billion Kwara State

In other news, beneficiaries in Kwara State were paid a combined N13.3 billion during the course of their engagement, according to Abdulrazaq.

Hajia Bashirah Abdulrazaq, the Focal Person of the programme in the state, said batch A beneficiaries were paid N7.4 billion for the 42 months period they were engaged.

“Non-graduates received the sum of N10,000 every month and were engaged for a period of 24 months with a total sum of over N24 million spent,” she added.

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.

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Aliko Dangote Remains Africa’s Richest Man With $12.1 Billion Net Worth -Forbes

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Aliko Dangote Remains Africa’s Richest Man With $12.1 Billion Net Worth -Forbes

Nigerian industrialist, Aliko Dangote, is Africa’s richest person for the tenth year in a row.

In the Forbes Africa latest billionaires list, Dangote’s total net worth stood at $12.1 billion, a $2 billion increment when compared to last year. Thanks to the 30 percent increase in the price of Dangote Cement share.

Nassef Sawiris of Egypt followed Dangote with $8.5 billion net worth with the majority of his investments coming from construction and other investments.

In third place was Nicky Oppenheimer of South Africa with an $8 billion total net worth.

Mike Adenuga and Abdulsamad Rabio, the two Nigerians, came fifth and sixth with $6.3 billion and $5.5 billion net worth, respectively.Forbes Africa's billionaires list

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Portland Paints, Chemical and Allied Products Plc Agreed to Merge

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Portland Paints

Portland Paints, Chemical and Allied Products Plc Agreed to Merge

Portland Paints and Products Nigeria Plc and Chemical and Allied Products Plc have agreed to merge, according to the latest statement from both companies.

In a statement released through the Nigerian Stock Exchange, the Board of Directors of CAP said we are “pleased to inform you that following discussions and negotiations, the Boards of CAP and Portland Paints have reached an agreement to undertake a merger between both entities (the “Merger” or the “Proposed Merger”).

Accordingly, we “hereby present to you the terms and benefits of the Proposed Merger for your consideration and seek your support and approval to effect the Proposed Merger.

“The Proposed Merger presents a compelling opportunity to create significant value for shareholders of CAP and achieve the company’s strategic growth objectives as a larger company with a broader product portfolio, more corporate owned brands and diversified revenues.

“The resultant entity is also expected to benefit from enhanced distribution capabilities in addition to economies of scale and operational efficiencies.”

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Tony Elumelu Acquires Shell, Total, ENI Stakes in OML 17

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Shell

Tony Elumelu Acquires Shell, Total, ENI Stakes in OML 17

Tony Elumelu owned Heir Holdings Limited and its related company Transnational Corporation of Nigeria Plc on Friday announced it has completed the purchase of 45 percent stake in Oil Mining Lease (OML 17) through TNOG Oil and Gas Limited.

The acquisition includes all assets of Shell Petroleum Development Company of Nigeria Limited (30 Percent), Total E&P Nigeria Ltd (10 percent) and ENI (five percent) — in the lease.

It was further stated that TNOG Oil and Gas Limited will also have the sole right to operate OML 17.

The field presently has a production capacity of 27,000 barrels per day. Also, there are estimated 2P reserves (proven and probable) of 1.2 billion barrels and an additional one billion barrels in possible reserves — all of oil equivalent.

A consortium of global and regional banks and investors provided a financing component of $1.1 billion for the largest oil and gas financing in Africa in over a decade.

In a statement released on Friday, Shell said the completion was after all the necessary approvals have were received from authorities.

“A total of $453m was paid at completion with the balance to be paid over an agreed period. SPDC will retain its interest in the Port Harcourt Industrial and Residential Areas, which fall within the lease area,” the SPDC said.

Speaking after the completion of the deal, Elumelu said “We have a very clear vision: creating Africa’s first integrated energy multinational, a global quality business, uniquely focused on Africa and Africa’s energy needs. The acquisition of such a high-quality asset, with significant potential for further growth, is a strong statement of our confidence in Nigeria, the Nigerian oil and gas sector and a tribute to the extremely high-quality management team that we have assembled.

“As a Nigerian, and more particularly an indigene of the Niger Delta region, I understand well our responsibilities that come with stewardship of the asset, our engagement with communities and the strategic importance of the oil and gas sector in Nigeria. We see significant benefits from integrating our production, with our ability to power Nigeria, through Transcorp, and deliver value across the energy value chain.

“I would like to thank Shell, Total and ENI, for the professionalism of the process, the Federal Government of Nigeria, the Ministry of Petroleum Resources, and the NNPC for the confidence they have placed in us.”

Tony Elumelu is the Chairman of Heirs Holdings Limited, Transcorp and United Bank for Africa Plc.

Also, read Transcorp Plc Acquires FGN’s 100% Equity in Afam Power for N105 Billion

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