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Federal Government Shortlists 5,000 for Oil and Gas Sector Overseas Scholarships

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The Federal Government has shortlisted 5,000 candidates for its prestigious overseas scholarships.

The announcement was made through the Petroleum Technology Development Fund (PTDF) in Abuja.

Bolanle Agboola, the Head of the Overseas Scholarship Scheme at PTDF, disclosed that the selection process for the 2024 scholarships had reached its final stage.

She revealed that the shortlisted candidates had participated in rigorous examinations across the six geopolitical zones of Nigeria.

“The purpose of this initiative is to empower Nigerians with high-tech skills required in the oil and gas industry,” Agboola stated. “The selection process was conducted simultaneously in various universities across the country.”

Highlighting the importance of the scholarships, Agboola emphasized the need for Nigeria to indigenize its oil and gas sector.

“Our target is to select the best candidates for the overseas scholarships,” she said. “This initiative aligns with the government’s goal of building local capacity in the oil and gas industry.”

When asked about the number of participants to be selected, Agboola explained that each state of the federation would receive an equal allocation of successful candidates based on the budget for the year.

However, she refrained from disclosing the exact budget allocated for the scholarship scheme.

Agboola defended the decision to send scholars abroad, citing the high-tech nature of the oil and gas industry and the need for hands-on experience with cutting-edge equipment and technology.

She also mentioned PTDF’s in-country scholarship program, where participants are trained in Nigeria.

The overseas scholarships will be offered in various universities in the United Kingdom, France, Germany, and Malaysia, providing Nigerian scholars with access to world-class education and training in the oil and gas sector.

With this initiative, the Federal Government aims to equip Nigerian professionals with the expertise needed to drive innovation and development in the nation’s vital oil and gas industry, ensuring its sustainability and competitiveness on the global stage.

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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ECOWAS Donates $380 Million to Electrify Public Schools and Health Centres Across 18 African Countries

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The Economic Community of West African States Commission (ECOWAS) has announced a donation of $380 million for public schools and health centres in 18 African countries.

The donation was announced by the Senior Adviser on the Regional Off-Grid Electricity Access Project at the ECOWAS Commission, El hadji Sylla, during a stakeholders meeting in Abuja.

According to Sylla, with the move, the ECOWAS aims to promote a new innovative chain to electrify public schools.

Sylla, who stated the goals of the initiative funded by the World Bank, the Clean Technology Fund, and the Dutch government, revealed that the project will kick off from Nigeria and Benin.

He noted that the project covers 15 countries in the ECOWAS region.

According to Sylla “The cost of the project is $380m, and we want to promote a new innovative chain to electrify public institutions. Our target is to electrify schools and health centres to improve service delivery.

“We are piloting the project in Nigeria and the Benin Republic. The project covers 15 countries in the ECOWAS region and four countries in the Sahel region,” Sylla said.

“We are targeting schools and health centres to improve service delivery,” Sylla said, adding that the project is expected to be completed in five years across all participating countries, with the pilot phase in Nigeria and Benin to be executed within 18 months.

In Nigeria, the initiative will begin with electrification projects in selected schools and health centres in the Federal Capital Territory, Niger, and Nasarawa states,” he concluded.

Meanwhile, Minister of Power, Adebayo Adelabu, who was represented at the meeting by Bem Ayangeaor, noted that electrification in Nigeria has seen significant growth.

He, however, attributed the growth to the grants and subsidies flowing into the sector.

“I do not doubt that the rural electrification space in Nigeria, thanks to grants and subsidies, has grown significantly and will soon reach a stage where public support leverages private sector financing at higher efficiencies than it is presently done.

“A stage where the private sector would be more excited in investing in the electrification space because of the benefits to be gained,” Adelabu said.

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Federal Government Approves 133% Allowance Boost for NYSC Members, Now ₦77,000

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NYSC

The National Youth Service Corps (NYSC) has announced an increase in the monthly allowance of corps members in Nigeria.

The news was announced on Wednesday by the Director General of the NYSC, Brigadier-General Yusha’u Ahmed through the Acting Director of Information and Public Relations of the NYSC, Caroline Embu, following the federal government’s approval.

In a statement sighted by Investors King, the NYSC revealed that the monthly allowance of corps members has been increased to ₦77,000 after the recent increase in the national minimum wage.

This represents a 133.33 percent increase from the ₦33,000 previous monthly allowance.

According to Embu, the increase was in line with the enactment of the National Minimum Wage (Amendment) Act 2024 by the President Bola Tinubu-led government.

The service expects the increase to boost the morale of corps members and motivate them as they serve their motherland.

As detailed in the statement, the new allowance will take effect from July 2024.

The statement reads, “The Federal Government has approved the increase of corps members’ monthly allowance to N77,000 with effect from July 2024.

“This is in line with the enactment of the National Minimum Wage (Amendment) Act 2024.

This was contained in a letter from the National Salaries, Incomes and Wages Commission, dated 25th September 2024 and signed by the Chairman, Mr. Ekpo Nta”.

“Before this, the Director General, NYSC Brigadier General YD Ahmed, had paid an advocacy visit to the Chairman in which he solicited for a robust welfare package for corps members.

“The NYSC boss is thankful to the Federal Government for the timely gesture and is optimistic that it will not only bring much-needed succour to the corps members but also boost their morale and motivate them to do even more, in their service to the nation.”

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15 Years on, FG Yet to Meet ASUU Demands as Union Plans Showdown 

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ASUU Strike

After about fifteen years of meeting deadlocks in its negotiations with the Federal Government of Nigeria, the Academic Staff Union of Universities (ASUU) has declared its readiness to down tools.

The Union has, however, issued a 14-day warning ultimatum to the Federal Government to resolve some lingering issues dating as far back as 2009, or the union will embark on a fresh strike that would paralyze the nation’s university education sector.

The president of ASUU, Emmanuel Osodeke, disclosed that the lecturers union is seeking the conclusion of the renegotiation of the 2009 FGN/ASUU Agreement based on the Nimi Briggs Committee’s Draft Agreement of 2021.

In a statement he issued on Wednesday, Osodeke explained that the union had given the Nigerian government another 14 days, in addition to the earlier 21 days, beginning from Monday, September 23, 2024, during which all the lingering issues must have been concretely addressed to the satisfaction of the union.

He said the union should not be held responsible for any industrial disharmony and university education delay that arise from the government’s failure to seize the new opportunity offered by ASUU to resolve the agelong crisis.

The ASUU president said the union is also demanding the release of withheld salaries due to the 2022 strike action, and expressed frustration with the government’s lack of commitment and delay tactics.

According to him, the union is also demanding the release of unpaid salaries for staff on sabbatical, part-time, and adjunct appointments affected by the Integrated Payroll and Personnel Information System (IPPIS), and the payment of outstanding third-party deductions such as check-off dues and cooperative contributions.

ASUU president pointed out that agitation for funding to revitalise public universities which is partly captured in the 2023 Federal Government Budget, adding that the payment of Earned Academic Allowances is also partly captured in the 2023 federal government budget.

While identifying proliferation of universities by federal and state governments, the implementation of the reports of visitation panels to universities, the reversal of the illegal dissolution of governing councils, and the adoption of the University Transparency and Accountability Solution (UTAS) as a replacement for IPPIS as other demands of the union, Osodeke asked the Federal Government to be serious and sincere in its dealings with the union moving forward.

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