Capital Market Boon for Startups: ESX


Addis Ababa: The approval of the capital market in Ethiopia will bring greater opportunities for the growth of startups in the country, the CEO of the Ethiopian Securities Exchange (ESX) remarked.

Ethiopian Securities Exchange CEO, Tilahun Esmael Kassahun told ENA that capital market and startups have supplementary relationship.

Tilahun emphasized the crucial role startups play in a nation’s future, particularly within the technology and innovation sectors, pointing out that many of the world’s leading tech giants began as small startups.

Previously, Ethiopian startups faced major hurdles, including securing capital and operational funds from the major financial institutions.

However, Tilahun expressed assurance that the new capital market will enduringly address this bottlenecks.

The government is providing great policy support to startups in the country, the CEO noted.

The capital market will allow startup entrepreneurs to access financial services based on their ideas, he explained.

This will also o
pen doors for startups to become major players within the capital market themselves.

Beyond just attracting capital, Tilahun believes the capital market will positively contribute to Ethiopia’s financial inclusion.

According to him, startups will not only have access to investment capital but also benefit from various financial instruments that can address operational cash flow needs.

A strengthened Investment Bank, coupled with the ability of commercial banks to increase their deposit capacity through the sale of diverse financial instruments, will create a more favorable financial environment, he elaborated.

“This will indirectly benefit those segments of society who are currently excluded from traditional financial services.”

The CEO anticipates the launch of the Ethiopian real estate market in 2025, offers further investment diversification, stating that it presents a fantastic opportunity for Ethiopians to participate in the privatization of government enterprises and become shareholders.

Source:
Ethiopian News Agency

FG needs Nigerians’ support to make lives better – Information Minister


The Minister of Information and National Orientation, Alhaji Mohammed Idris, says the Federal Government direly needs the support of all Nigerians to make lives better.

Idris stated this on Saturday in Kaduna at a reception organised in his honour by the State chapter of the Nigerian Institute of Public Relations (NIPR).

He said that the government was implementing many programmes aimed at the betterment of the citizens’ lives, which required the support and complementary efforts in achieving the desired goal.

Idris added that with the money that was saved as a result of the fuel subsidy removal, the agricultural sector has experienced a boom.

‘For the first time, our country is experiencing dry season farming being really implemented by the sub-nationals.

‘Recently the CBN approved over two million bags of fertilisers to be given to the farmers,’he said.

The minister stressed that the Federal Government has resolved to no longer subsidise farmers that don’t have farms.

Idris also said the Federal Gove
rnment was fully committed to the well-being of the citizens, and saw the appreciation of naira against the dollar.

He said the government needed patience, collaboration, support and understanding of the citizens as it continues to put together policies that would benefit Nigerians.

Idris also recalled that skyrocketing prices of food items prompted the Federal Government to release 42,000 metric tonnes of assorted grains out of its 53,000 metric tonnes stashed across the country.

According to the minister, the gesture was among the various steps taken to cushion the hardship being faced by the citizens.

‘The Government has also met with rice millers and they made a pledge to release 60,000 metric tonnes of rice available in their factories to Nigerians.

‘Also, over N100 billion was put in the first instance to support agriculture,’ he said.

The minister expressed optimism that if the agricultural activities going on in many parts of the country were sustained, in the next three years, the country would
be a net exporter of food.

He also stressed that the government needed the support of Nigerians in that regard, where he frowned at hoarders who make money at the expense of Nigerians and later turn to blame the government.

‘It has to be reciprocal arrangements, while the government does its best, every patriotic Nigerian needs to do the same for the country’s survival,’Idris said.

Speaking on issues of insecurity, Idris acknowledged its existence, however stating that one could drive from far distance to another without much fear.

He added that recently, the Armed Forces have recorded huge successes against criminal elements across the country, which saw the rescue of the abducted people without the payment of ransoms.

Idris thanked President Bola Tinubu for his support to the ministry, adding that it made them reposition public communication.

He charged NIPR to help the government to restore trust and professionalism in the art of public communication.

Earlier, the President of NIPR, Dr Ike Neliaku,
said the Kaduna chapter had produced important personalities that were linked to the growth of the Institute.

Neliaku, represented by his Deputy, Prof. Emmanuel Dandaura, added that the chapter of the Institute has produced virtually every key position at the national level.

Describing the Information Minister as a gentleman and a solution provider, he said he had changed the narrative of public relations by the application of its core principles.

He thanked the chapter for organising the reception and its contributions to the growth of the Institute.

Source: News Agency of Nigeria

Chibok girls: U.S. pledges support for Nigeria’s anti-terrorism fight, victims’ families


The United States Government has pledged to support Nigeria’s fight against terrorism, as the country marks a decade of the mass abduction of over 200 schoolgirls in Chibok, North-East, by terrorists.

This is contained in a statement issued by the spokesperson of the U.S. Embassy, Aishah Gambari, on Sunday in Abuja.

Gambari said the U.S. would also support Nigeria’s terrorism survivors and their families, saying that the U.S.-Nigeria partnership was built on a foundation of shared values and common goals.

According to her, the U.S. will continue to support Nigeria’s efforts to combat terrorism, and to hold perpetrators of terrorist attacks accountable, as well as guarantee citizens’ safety and well-being.

‘The partnership between the United States and Nigeria is built on a foundation of shared values and common goals.

‘We will continue to work together to promote peace, security, and stability in the region, and to support initiatives that foster education, economic growth, and human rights.

‘As we mark
one decade since this terrible act, we reaffirm our support for the survivors, their families, and all those affected by terrorism.

‘The United States stands with Nigeria in its fight against extremism and its commitment to creating a safer, more prosperous future for all its people,’ Gambari said.

The News Agency of Nigeria (NAN) recalls that on April 14, 2014, Boko Haram terrorists stormed Government Girls’ Secondary School, Chibok, in Borno at night, and abducted no fewer than 276 girls.

The girls were preparing for that year’s Senior West African School Certificate Examination, and 10 years since then, while some of them were found, about 89 others have yet to return.

Source: News Agency of Nigeria

Expert urges Benue to establish commodity trading Agency to boost Agribusiness


Mr Chris Echikwu, an Agribusiness expert, has called for the establishment of a Commodity Trading Management Agency to promote agribusiness and address the challenges facing Benue’s agricultural sector.

Echikwu, in an interview with the News Agency of Nigeria (NAN) on Sunday in Abuja, noted the necessity of the agency to tackle the multifaceted issues hindering the growth of the agricultural economy in the state.

According to him, Agribusiness, a fusion of agriculture and commerce, encompasses various activities ranging from production, storage, distribution, logistics, finance, to marketing.

Echikwu said that the challenges confronting the agricultural sector in Benue often referred to as the ‘Food Basket of the Nation, were significant.

He noted the abundance of commercially valuable agro-commodities in the state, including yams, sesame seeds, palm produce, and various fruits, saying these commodities contributed to its agricultural prominence.

According to him, the prevalence of trading activities acr
oss the state’s 23 local government areas, with major markets like Wannune, Buruku, and Zakibiam, showed pivotal roles in procurement.

Echikwu expressed concern over quality assurance issues regarding quality and weight accuracy, which have resulted in the blacklisting of certain commodities.

He highlighted the absence of transport logistics and formal structure for price dissemination, hindering market transparency and efficiency.

The expert underscored the importance of establishing direct linkages between farmers and end-users to enhance profitability.

He also added the need for improved government revenue collection from market activities to address inefficiencies in revenue generation.

Echikwu called for strategic interventions to reposition the agribusiness sector, stressing the importance of collaborative efforts between stakeholders to address the multifaceted issues impeding growth.

The expert said that the proposed Commodity Trading Management Agency, would provide a structured platform for ef
ficient, transparent, and organised trade in commodities.

He outlined collaboration with government agencies to enforce regulations, enhance market infrastructure, and establish links with domestic and international buyers.

The agency, he added would also advise on sustainable agribusiness development policies, extending its role beyond trading management.

Echikwu said the establishment of a Commodity Trading Management Agency was a strategic imperative to unlock the full potential of the agricultural sector and foster economic growth and prosperity.

Source: News Agency of Nigeria

Stop cursing Nigeria, Sanwo-Olu tells citizens


Gov. Babajide Sanwo-Olu of Lagos State has called on Nigerians to refrain from speaking ill of the country, but pray for its betterment.

Sanwo-Olu gave the advice at the 2024 Eid-el-Fitr elebration on Saturday at the Lagos House, Ikeja.

The celebration had the theme: ‘Allah will not Change the Way of the People until they Change What is in their Hearts’.

The governor, who was represented by his Deputy, Dr Obafemi Hamzat, urged Nigerians to change their thoughts and speak positively about the country.

According to him, God will not change anything for any society until the people would decide to change their minds for good.

Sanwo-Olu added that the citizens should stop cursing the country so that God would change it for the better.

He, therefore urged Nigerians to believe in their current leaders and pray for them and the country.

‘Almighty God will not change anything for any society until they change what is in their minds.

‘Our collective intent should be to keep praying for Nigeria and the leadersh
ip to do the right thing.

‘That is when Allah will intervene in the present situation of our country.

‘It is, therefore, important for us to desist from talking ill about the country,’ he said.

The governor also charged the people to be empathetic toward one another, adding that they should be their brothers’ keepers.

He appealed to parents to guide their children and wards right.

Sanwo-Olu harped on children being respectful while reiterating that it was the responsibility of parents to raise their children in the way of God.

In her address of welcome, the Wife of Lagos State Governor, Dr Ibijoke Sanwo-Olu, urged Nigerians to emerge from Ramadan not only as individuals who had undergone personal growth but as agents of change within their communities.

She advised them to commit to fostering a society built on the principles of justice, equity and compassion.

‘Let us remember that true change begins within the depths of our hearts.

‘The joint Ramadan and Lent experienced this year should remind every
one of the universal value of humanity that unites all regardless of religious belief, background, or ethnicity,’ she said.

She advised Nigerians to reject bigotry and prejudice in all its forms and work toward building a more inclusive society where everyone would be valued and respected.

Justice Abdulrraheem Ahmad of the Sharia Court of Appeal, Kwara State, said that the current situation in Nigeria was not vested upon the people by Allah but was a creation of the people’s handiwork.

He advised Nigerians to have a change of mindset and speak positively about the country.

Ahmad also urged the people to be righteous, as well as fair and kind to one another irrespective of religion, race or tribe.

Source: News Agency of Nigeria

CAN demands rescue of remaining Chibok girls


The Christian Association of Nigeria (CAN), has demanded the release of the remaining Chibok girls from captivity 10 years after.

The Christian body said the pain and anguish experienced by the parents of the abducted girls was still being deeply felt.

It said that it was not only a matter of national importance, but also a test of commitment to upholding the rights and safety of Nigerian citizens.

This is contained in a statement by its National Director for Education, Youth and Women Development, Rev. Ozumba Nicodemus on Saturday in Abuja.

‘The trauma experienced by the remaining 276 abducted girls from Nigeria is unimaginable.

‘The pain and anguish felt by their parents, who have endured sleepless nights filled with hopelessness, are deeply felt by CAN.

‘We cannot remain silent while their children remain in captivity, yearning for freedom and reunion with their families,’ it said.

CAN urged government to intensify efforts and take decisive action to rescue the remaining children still held hostage.

‘It is our duty as a nation to ensure their safe return, and to bring an end to the anguish and suffering endured by these innocent young girls and their families.

‘We call on the government to mobilise all available resources, engage relevant security agencies, and collaborate with international partners to secure the release of the remaining Chibok girls,’ It said.

The religious body also implored the international community, humanitarian organisations, and well-meaning individuals to join hands in advocating for the release of the Chibok girls.

‘Together, we can amplify our voices and exert greater pressure on the abductors to bring an end to this prolonged ordeal.

‘CAN remains resolute in its commitment to seeking justice and ensuring the safe return of the Chibok girls.

‘We will continue to engage with relevant stakeholders and utilise all available avenues to shed light on their plight and secure their release.

‘We urge all Nigerians to stand united, to lend their voices and to demand immediate ac
tion from the government.

‘Let us show our unwavering support for the families of the Chibok girls and demonstrate our collectivedetermination to bring them back home,’ It added.

Source: News Agency of Nigeria