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Ambassador Adeyemi urge youths to be enterprising.

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THE President-General of the World Youth Organisation (WYO), Ambassador Adeniyi Adeyemi has urged the youths to be more enterprising so as to build a better Nigeria, just as he enjoined them to imbibe the spirit of creativity and integrity to succeed in an increasingly dynamic and globalised world and not sit idly for the governments to provide all the jobs they needed.

Contained in a statement issued by his spokesperson, Mr. Adeola Badru, the President -General noted that the call was imperative to awaken in the youths to creativity, enterprising spirit and values necessary to identify and harness business or job opportunities in their environment.

Amb. Adeyemi blamed the increasing joblessness of the youths on the nation’s economic model, which he averred had outlived its effectiveness.

He also noted that Nigeria’s economic model placed the government as the main employer of labour, but expressed regrets that the government is today faced with a situation where jobs demand far outstripped available space.

Continuing, Ambassador Adeyemi said this informed why his administration as President-General of the World Youth Organisation, on assumption of office, had policies to support the youths in setting up their own companies and equip them to earn their own wages.

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Highlighting his plans, Ambassador Adeyemi stressed that his administration had identified agriculture and agri-business, artisanal and technical vocations, commerce and industry, environment, sports and entertainment as areas where the youths could explore to create jobs for themselves.

“To ensure that there are enough jobs for our youths today and for those that will enter the labour market in 30 years, there must be a deliberate policy to support our youths in setting up their own companies; we must equip them to earn their own wages. The good news is that our youths are ready to be their own bosses.”

“So my focus is to show young people like myself the many ways they could go. My administration will work with various international organisations on acquiring the skills, tools and support necessary to become employers of labour”, he assured.

Similarly, Adeyemi admonished governments at various levels to assist the youths to translate commercial ideas into marketable businesses, adding that: “If neither the public nor the private sector cannot employ them, we must help them to employ themselves.”

“Unemployment has been growing at a rapid rate alongside our population. The World Bank report shows that unemployment has not decreased since 1999 and, that in particular, youth unemployment has been on the rise. Unemployment among the youth is put at 35.9%, which when compared with national overall unemployment of 21.1% is significantly high.”

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“So, our approach to youth emancipation must have geographical breath, to cover rural and urban areas; sectoral breadth to accommodate people seeking work at the two extremes of educational attainment; and must take into consideration the structural obstacles faced by all and most especially our women,” he reiterated.

He further stressed that the university education they had was to open their minds to possibilities, pointing out that the real value of their  education was the way they processed the information in their environment.

The world youth president, however charged the three tiers of government to invest more in youth development rather than building infrastructure.

“No matter how many bridges you (government) build or how many roads you construct if you don’t empower the youths all the efforts may go to waste.”

“Building people is key, let us grow people and not buildings, let us build a society where we all value human lives, a society where we live by the rule of law and not by the rules of men,” he appealed.

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Ex-NCC Chair, Akande extols Senator Sarafadeen Ali on his 61st birthday

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Former Chairman of the Nigerian Communications Commission (NCC), Prof. Adeolu Akande, has extended warm felicitations to Barrister Sarafadeen Ali, the Senator representing Oyo South Senatorial district, on the occasion of his 61st birthday.

In a statement released on Saturday in Ibadan, the Oyo state capital, on Saturday, Akande lauded the lawmaker, describing him as a luminary whose life has been marked by distinguished service to the nation.

“Today, I join the world in celebrating you on your special day, as you mark 61 years of God’s abundant love and glorious impact on humanity,” the former NCC gaffer expressed.

He added, “I wish you many more years of God’s grace in your life.”

 

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Labour union protests Heritage Bank’s dismissal of 1,000 workers

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The headquarters of Heritage Bank at Victoria Island, Lagos, was besieged on Thursday by members of the labour union, protesting the recent dismissal of 1,000 support workers.

The National President of the National Union of Banks, Insurance and Financial Institutions Employees, Comrade Anthony Abakpa, led the demonstration, condemning the bank’s management for what he deemed a lack of adherence to due process in the termination of employment contracts.

Speaking during the protest, Comrade Abakpa asserted that the leadership of Heritage Bank failed to follow established protocols before executing the mass layoffs.

He emphasised the union’s commitment to pursuing justice for the affected workers, vowing to escalate their demands until the bank’s management rectifies the situation.

“We will intensify our demands for justice,” declared Comrade Abakpa, urging the bank’s management to take corrective action to address the grievances of the dismissed workers.

 

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Nigeria not using foreign reserves to defend naira, says CBN governor

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CBN governor

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, clarified that Nigeria is not utilising its foreign reserves to bolster the naira, despite recent fluctuations in reserve levels.

Speaking from Washington DC, where he is attending the International Monetary Fund-World Bank Spring Meetings, Cardoso highlighted the influx of $600 million into Nigeria’s reserves account within the past two days.

While the naira has experienced a notable appreciation against the dollar in recent weeks, climbing over 40% from approximately N1,900/$ to about N1,000/$1, Nigeria’s foreign reserves have been dwindling. As of April 15, reserves dropped to approximately $32.29 billion, marking the lowest level in over six years.

Cardoso emphasised that the shifts in reserves are typical for any country, where various financial obligations, such as debt repayments, necessitate withdrawals.

He stated, “What you’ve seen with respect to the shift in our reserves is normal in any country’s reserves where, for example, debts are due and certain payments need to be made. They are made because that is also part of keeping your credibility.”

Continuing, Cardoso underscored the dynamic nature of the market, advocating for a system driven by willing buyers, willing sellers, and price discovery.

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He emphasised, “The shift in our reserves has really little or nothing to do with defending the naira, and that is certainly not our objective.”

 

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