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Financial Inclusion: FG Signs MoU With 6 Professional Bodies To Train 10m Nigerians

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Financial Inclusion: FG Signs MoU With 6 Professional Bodies To Train 10m Nigerians

By: Our Reporter

Nigeria will reap from its demographic dividend if youths, women are prioritised, equipped with skills, says VP Shettima

The Federal Government of Nigeria, on Monday, flagged off a free nationwide training of 10 million Nigerians on financial inclusion and literacy.

This is just as the Vice President, Senator Kashim Shettima, has said Nigeria can reap bountifully from its demographic dividend only if young Nigerians and women are equipped with the needed skills and ethical grounding required for a speedily progressing digital economy.

The training being undertaken by the Office of the Vice President through the Presidential Committee on Economic & Financial Inclusion (PreCEFI), chaired by Vice President Kashim Shettima, is designed to equip Nigerians, particularly women and youths, with essential financial skills, investment knowledge, and digital competencies for sustainable wealth creation.

Accordingly, the Office of the Vice President, through the PreCEFI, signed a Memorandum of Understanding (MOU) with six professional bodies to jointly design training programmes, certification pathways, digital skills initiatives, and mentorship platforms that would strengthen Nigeria’s financial and enterprise workforce.

The professional bodies include the Institute of Chartered Accountants of Nigeria (ICAN); Chartered Institute of Bankers of Nigeria (CIBN); Chartered Institute of Stockbrokers (CIS); National Institute of Credit Administration (NICA); Chartered Risk Management Institute (CRMI) and Nigeria Institute of Innovation and Entrepreneurship (NIIE).

Speaking when he officially flagged off the free nationwide training of 10 million Nigerians, on behalf of President Bola Ahmed Tinubu, at the Presidential Villa, Abuja, the Vice President noted that the signing of the MoU between the Federal Government and the six of Nigeria’s foremost professional bodies was more than a formal agreement.

“It is a strategic national investment in capacity as infrastructure which is the human, institutional, and ethical foundations upon which inclusive growth must rest,” he stated

Senator Shettima noted that the Aso Accord on Economic and Financial Inclusion, which the PreCEFI is mandated to implement, recognises the fact that “financial inclusion is not achieved by access alone, but by competence, trust, and capability.”

According to him, the nation “cannot build a one-trillion-dollar economy on weak skills, fragmented standards, or disconnected professional ecosystems.”

He explained: “This MoU therefore establishes a working framework to harness the collective expertise of ICAN, CIBN, CIS, CRMI, NICA, and NIIE to advance inclusion through capacity building, advocacy, digital transformation, youth empowerment, and support for small and medium practitioners.

“It establishes a structured mechanism for joint training programmes, policy dialogue, digital skills development, and professional standards that align market practice with national inclusion goals.”

VP Shettima pointed out that while capacity building is financial inclusion, “without accountants who understand MSME formalisation, credit administrators who can assess risk beyond collateral, bankers who embed consumer protection, risk professionals who anticipate digital threats, and innovators who translate ideas into enterprises, inclusion remains a slogan rather than a system.”

Maintaining that the training programme must prioritise young Nigerians and women, the VP said, “Importantly, this collaboration prioritises women and youth inclusion and digital transformation, recognising that Nigeria’s demographic dividend will only materialise if young people are equipped with relevant skills and ethical grounding for a fast-evolving digital economy.”

He charged the PreCEFI and the professional bodies not to treat the MoU as a mere document, but as a living platform for execution.

“Accordingly, on behalf of President Bola Ahmed Tinubu,GCFR, I hereby flag off the free training of 10 million Nigerians with priority for women and youth across the country,” VP Shettima declared.

Earlier, the President of the Institute of Chartered Accountants of Nigeria (ICAN), Mallam Haruna Nma Yahaya, applauded the administration of President Bola Ahmed Tinubu for its bold economic reforms that has culminated in the flag off of the financial inclusion free training programme for 10 million women and youths in Nigeria.

He said the decision to embark on the project was prompted by visible improvements in the economy as a result of the gains of the Federal Government’s policy reforms.

Yahaya assured the Vice President of their professional support in the realisation of set objectives, describing their involvement involvement in the project as an institutional honour.

For his part, the CEO of WAWU Africa – technical partners in the programme, Mr Emmanuel Lennox, assured of the company’s readiness to deliver on the project, particularly in providing the digital platform and overall enabling environment for its success.

Also, explaining why the training of 10 million Nigerians on financial inclusion had become necessary, the Technical Adviser to the President on Economic and Financial Inclusion, Dr. Nurudeen Abubakar Zauro, said said, “Exclusion is not only by lack of access, but by limited skills, weak institutional capacity, and insufficient professional support.

“Consequently, financial inclusion is not achieved by infrastructure alone; it is achieved when people and institutions are equipped to use that infrastructure responsibly, productively, and sustainably.”

The high point of the event was the signing of the MoU for the capacity building programme by the Federal Government and the six professional bodies.

Financial Inclusion: FG Signs MoU With 6 Professional Bodies To Train 10m Nigerians

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FG Readies 10,000 E-Vehicles for Northeast, Targets 100,000 Jobs

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FG Readies 10,000 E-Vehicles for Northeast, Targets 100,000 Jobs

…Maiduguri plant set for Tinubu’s inauguration as NEDC links green transport to rural economy

By: Michael Mike

The Federal Government is set to launch a major electric mobility programme in the North-East, with an assembly plant in Maiduguri, Borno State, preparing to roll out 10,000 electric vehicles and tricycles in an initiative projected to generate employment for up to 100,000 people during the assembly process.

The Minister for Regional Development, Abubakar Momoh, disclosed this yesterday after inspecting the electric vehicle assembly facility being managed by the North-East Development Commission (NEDC) ahead of its planned inauguration by President Bola Ahmed Tinubu.

Momoh said the project had moved substantially beyond the planning stage, with nearly all the targeted vehicles already at the facility and assembly operations underway.

He said the fleet, comprising electric buses, taxis and tricycles, would be deployed across the six states of the North-East, with charging infrastructure incorporated into the programme.

The minister described the project as a significant demonstration of the administration’s transformation agenda, particularly its efforts to combine infrastructure development, youth employment, cleaner transportation and economic recovery in the region.

“Apart from the fact that it will help to improve commuting of people, and create more job opportunities for the youths,” Momoh said, adding that the assembly process itself was already generating employment.

One of the most significant aspects of the initiative is its potential employment impact.

According to the minister, the project’s Director of Operations briefed him that the assembly of the 10,000 vehicles could provide employment for not less than 100,000 people before the target is completed.

The claim places the Maiduguri project at the centre of the Federal Government’s broader effort to make infrastructure spending translate into direct economic opportunities for young Nigerians, rather than merely producing physical assets.

The vehicles are also expected to create jobs beyond the assembly line through transportation operations, servicing, maintenance and supporting infrastructure once deployed across the region.

The project has an additional dimension that could prove particularly important to the North-East’s predominantly agrarian economy.

Momoh said some of the electric tricycles were designed to carry both passengers and agricultural produce, potentially allowing farmers in remote communities to move their commodities to urban markets more efficiently.

He therefore directed attention to the relationship between the e-vehicle programme and ongoing rural road construction.

According to him, the combination of improved roads and appropriate transport could strengthen the connection between rural producers and city markets.

The minister specifically urged the NEDC leadership to ensure that communities along newly rehabilitated road corridors were not excluded from the distribution of the vehicles.

He said rural residents needed the vehicles to evacuate agricultural produce from their communities to urban centres.

The Maiduguri project is not a new policy idea. The NEDC announced plans in 2024 to introduce 10,000 electric vehicles across the North-East as part of an effort to modernise transportation, reduce carbon emissions and respond to climate-change concerns.

The original plan envisaged a mix of nine-seater solar-powered tricycles, four-seater taxis and 40-seater buses, with deployment across Adamawa, Bauchi, Borno, Gombe, Taraba and Yobe states.

The commission had said the programme would be implemented in two phases of 5,000 vehicles each, while charging points would be established across the six states. Plans also included solar-power installations along major routes to support charging infrastructure.

The current inspection indicates that the initiative has now reached the assembly and deployment stage, bringing the long-planned regional mobility scheme closer to implementation.

For the North-East, the project comes against the backdrop of years of infrastructure deficits, disrupted economic activity and major transportation challenges.

The region comprises vast rural areas where poor transport connectivity can raise the cost of moving farm produce and limit access to markets, schools, healthcare and other essential services.

The NEDC was established specifically to coordinate reconstruction, rehabilitation and development interventions in the six North-Eastern states.

The electric mobility programme consequently fits into a wider regional-development strategy rather than being merely a vehicle procurement exercise.

The commission’s plan to link the vehicles with rural roads is particularly significant because better roads without affordable transport can leave rural communities economically isolated, while vehicles without passable roads cannot deliver their full value.

The initiative also places the North-East within Nigeria’s broader transition towards cleaner transportation.

Nigeria has been pursuing electric mobility as part of its energy-transition strategy, with the Federal Government increasingly promoting local assembly, charging infrastructure and technology transfer.

In January 2026, the National Automotive Design and Development Council disclosed that the Federal Government had signed an agreement with South Korea’s Asia Economic Development Committee for an electric vehicle manufacturing project and charging infrastructure. That separate national initiative envisages an eventual production capacity of 300,000 vehicles and about 10,000 jobs, alongside development of battery, component and charging ecosystems.

The broader policy objective is to move Nigeria beyond dependence on imported vehicles and fossil-fuel-powered transportation by developing local manufacturing capacity and the technical workforce required to sustain an electric-vehicle economy.

During his Maiduguri tour, Momoh also inspected rural road projects, including the Ngwom/Kushebe/Gadamari corridor towards Gongulong, and said he had observed substantial improvement.

He linked the road projects directly to the e-vehicle programme, arguing that improved roads would increase the usefulness of the vehicles, particularly for agricultural communities.

The minister also inspected the ongoing construction of the NEDC headquarters in Maiduguri and expressed satisfaction with the pace of work.

He said the project, which was at basement level during his previous visit, had progressed considerably, with the basement completed and another section of the building already under construction. He expressed confidence that the headquarters would be completed within 18 to 24 months.

For the Tinubu administration and the NEDC, the forthcoming inauguration will mark only the beginning of the real test.

The success of the programme will ultimately depend on whether the 10,000 vehicles remain operational after deployment, whether charging infrastructure is reliable, whether spare parts and technical expertise are locally available, and whether rural communities receive a meaningful share of the fleet.

If those challenges are effectively addressed, the Maiduguri project could become more than a transport intervention: it could provide the North-East with a new industrial ecosystem built around electric mobility, youth employment, clean energy, rural commerce and local technical skills.

And with nearly 10,000 vehicles already at the assembly facility, the region’s long-awaited shift towards electric mobility appears to be moving from policy promise to production reality.

FG Readies 10,000 E-Vehicles for Northeast, Targets 100,000 Jobs

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China Approves RMB 200m Grant for Nigeria as Envoy Meets Foreign Ministry Permanent Secretary

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China Approves RMB 200m Grant for Nigeria as Envoy Meets Foreign Ministry Permanent Secretary

By: Michael Mike

China has announced a RMB 200 million grant to Nigeria to support the implementation of development projects agreed upon by the two governments, in a fresh demonstration of Beijing’s expanding economic partnership with Abuja.

The announcement was made on Thursday by the Chinese Ambassador to Nigeria, H.E. Yu Dunhai, during a meeting with the Permanent Secretary of Nigeria’s Ministry of Foreign Affairs, Dr. Dunoma Umar Ahmed, in Abuja.

Yu said the grant was part of China’s continuing support for Nigeria’s national development and economic growth, stressing that the assistance would be deployed to projects jointly agreed by the two governments.

He said the latest commitment underscored the depth of relations between both countries, which have maintained diplomatic ties for 55 years.

According to the envoy, China-Nigeria relations have remained at the forefront of China-Africa relations and, under the strategic leadership of Chinese President Xi Jinping and Nigerian President Bola Ahmed Tinubu, the bilateral relationship has entered a new phase of high-quality development.

Yu said Beijing and Abuja had maintained close communication and coordination while working to implement agreements reached by their two leaders, as well as the outcomes of the 2024 Forum on China-Africa Cooperation (FOCAC) Beijing Summit.

He added that the objective was to ensure that the benefits of bilateral cooperation translated into tangible improvements in the lives of citizens of both countries.

Responding, the Nigerian Permanent Secretary thanked the Chinese government for what he described as its concrete support for Nigeria’s economic and social development.

Ahmed said the RMB 200 million grant demonstrated China’s commitment as a major global partner and reflected the deep friendship between Nigeria and China.

He assured that Nigeria would ensure the effective utilisation of the grant and work closely with China to implement the bilateral agreements and common understandings reached by both governments.

The Permanent Secretary said such cooperation would further strengthen Nigeria-China relations while delivering greater benefits to the peoples of both countries.

The fresh financial commitment comes as Abuja and Beijing continue to deepen cooperation in infrastructure, trade, investment, development financing and other strategic sectors, with both governments seeking to translate their comprehensive strategic partnership into concrete development outcomes.

China Approves RMB 200m Grant for Nigeria as Envoy Meets Foreign Ministry Permanent Secretary

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Tinubu Approves Up to 80% Salary Increase for Armed Forces Personnel

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Tinubu Approves Up to 80% Salary Increase for Armed Forces Personnel

By Zagazola Makama

President Bola Ahmed Tinubu has approved a new salary structure for personnel of the Nigerian Armed Forces, with increases ranging from 30 to 80 per cent, in a major welfare package aimed at boosting the morale of troops engaged in counter-insurgency and other internal security operations.

According to a statement issued on Tuesday by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, about 250,000 military personnel will benefit from the new salary adjustment, which takes effect from Sept. 1, 2026.

Under the approved structure, officers above the rank of colonel—including Brigadier Generals, Major Generals, Lieutenant Generals and Generals—will receive a 30 per cent salary increase.

Personnel from the rank of Colonel down to Warrant Officer will enjoy a 50 per cent increase, while soldiers from the rank of Private to Staff Sergeant will receive the highest adjustment of 80 per cent.

The new package will raise the annual personnel cost of the Armed Forces from ₦660 billion to ₦924 billion, reflecting the Federal Government’s renewed commitment to improving troop welfare.

President Tinubu said the decision was in recognition of the courage and sacrifices of members of the Armed Forces in confronting terrorism, banditry, kidnapping and other security challenges across the country.

“The men and women who help to keep us safe in our homes must be supported and appreciated in the course of their duties to our nation,” the President said.

He reaffirmed his administration’s commitment to prioritising troop welfare while modernising the Armed Forces through the provision of modern weapons, equipment and technological capabilities needed to effectively carry out their constitutional responsibilities.

According to the President, security remains the foundation for national development, stressing that his administration would continue to mobilise military and law enforcement assets to eliminate threats and safeguard the lives and property of Nigerians.

“I urge our servicemen to take our gesture as a sign of our deep appreciation of the services they render to our fatherland. Together we shall prevail over the enemies intent on destroying the fabric of our nation,” Tinubu said.

The salary review is expected to provide a significant boost to the welfare of military personnel serving in various theatres of operation across the country, including those engaged in counter-terrorism, anti-banditry and peace support missions.

Tinubu Approves Up to 80% Salary Increase for Armed Forces Personnel

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