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Exchange rate: FG spends N3.8bn on 1,500 scholars studying abroad

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The executive secretary of the Tertiary Education Trust Fund (TETFund), Sonny Echono, an architect, said a total of N3.8 billion had been expended on 1,500 Nigerian scholars abroad under its academic training programme as a bailout fund to cushion the effect of the current exchange rate of the naira.

Echono, who disclosed this during an oversight visit to the Fund by the House of Representatives Committee on Tertiary Education Trust Fund led by the chairman, Princess Miriam Onuoha on Thursday in Abuja, said various amounts of bailout were given based on the circumstance of the scholars.

“We have taken care of 1,500 scholars with a total of N3.8 billion expended. We identify a cut-off point for those who will be eligible for the scholarship,” Echono said.

He said the high exchange rate caused some challenges for TETFund-sponsored scholars as many of them requested extra funding, adding that the issue has also resulted in a drop in the number of beneficiaries of the Fund’s academic training programme in foreign institutions.

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While saying that the remittances process for scholars in the past was not that good, Echono said many of the institutions came back to TETFund expressing concerns over the payment system.

He said the collection from education tax in 2020 was N257 billion, and by 2021, the Fund received a sharp decline in the tax collection of N185.5 billion and rose to N328.8 billion in 2022 and N725 billion in 2023 respectively.

On the issue of attracting foreign grants for cutting-edge research, Echono said that before now, Nigeria was not doing well, adding that through the efforts of TETFund the story has now changed as it moved from the 9th position to the 7th in Africa in terms of countries that attract the highest research grants on the continent.

In her remarks, the chairman of the committee, Rep Miriam Onuoha, said the visit was meant to see how the agency had performed in the 2021-2023 budgets, in line with the budgetary provision and to ensure that allocations are used judiciously.

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She lauded Echono for how he meticulously executed projects and other interventions in line with the mandate of the TETFund.

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Malaysia Celebrates 67th Independence Day, Emphasises Economic Growth, Strengthening Ties with Nigeria

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By Gloria Ikibah 
 
In a celebration to marked Malaysia’s 67th Independence Day and 61st Malaysia Day, the Malaysias High Commissioner to Nigeria, Aiyub bin Omar has expressed gratitude to the Nigerian government and other dignitaries for joining in the joyous occasion. 
 
Naijablitznews.com reports that the event underscored Malaysia’s impressive economic progress, its upcoming ASEAN chairmanship, and the strengthening diplomatic relations with Nigeria.
 
In his address, at a dinner organised by the embassy in Abuja on Thursday, Ambassador Omar who gave an account of his country’s remarkable journey post-independence, noted that Malaysia’s path to self-governance was long and challenging, involving years of political negotiations. 
 
“Since gaining independence in 1957, Malaysia has successfully diversified its economy, transitioning from its initial reliance on agriculture and commodities to becoming a global player in the manufacturing and services sectors, particularly in the export of electrical appliances and components”, he said.
 
Citing a World Bank report, the envoy emphasized that Malaysia has maintained a strong trade-to-GDP ratio, exceeding 130 per cent since 2010 and emphasized the country’s sustained economic growth, with an average rate of 5.4 per cent over the past decade, and a current GDP per capita of USD13,310. 
 
The High Commissioner noted thay Malaysia was on the verge of transitioning from an upper-middle-income to a high-income economy by the end of this year.
 
“Malaysia has been ranked the 19th wealthiest country in Asia alongside China and Singapore,” the envoy proudly stated. 
 
He further noted that Malaysia is also ranked the 10th safest country globally according to the 2024 Global Peace Index, crediting the leadership of Prime Minister Anwar Ibrahim for this accomplishment.
 
 
ASEAN Chairmanship in 2025
 
Looking ahead, Malaysia is preparing to assume the chairmanship of ASEAN in 2025, Ambassador Omar assured that the country was making extensive preparations to lead the regional organization and work towards achieving the ASEAN Community Vision by 2045.
 
 
Strengthening Bilateral Ties with Nigeria
 
Turning to bilateral relations with Nigeria, the envoy disclosed that the year 2025 will mark 60 years of diplomatic relations between the two nations. He further admitted that these ties are grounded in mutual interests in politics, economics, and social matters, with key areas of focus including trade, education, and bilateral development assistance.
 
Naijablitznews.com reports that in 2023, Nigeria was Malaysia’s 37th largest trading partner, with total bilateral trade amounting to USD956 million (RM4.36 billion). By July 2024, the figure had already reached USD747 million, making Nigeria Malaysia’s fourth-largest trading partner in Africa, after South Africa, Kenya, and Cote d’Ivoire.
 
 
Education and Development Cooperation
 
The envoy explained thay Malaysia continues to be a preferred destination for Nigerian students seeking higher education, as currently, about 3,386 Nigerian students are enrolled in Malaysian universities. 
 
“In addition to education, Malaysia has been providing development assistance to Nigeria under the South-South Cooperation framework since 1981, with over 560 Nigerian government officials who have benefited from the Malaysian Technical Cooperation Programme (MTCP), which offers courses in areas such as trade, cyber security, environmental management, and public administration”, he added.
 
The Malaysian envoy expressed optimism about the future of Malaysia-Nigeria relations, emphasizing the potential for growth and continued collaboration. “I believe with plenty of opportunities, our bilateral relations will flourish,” he said, before inviting guests to relax and enjoy the evening’s celebrations.
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HoR Mediates Peace Among Rival Safety Professional Groups

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By Gloria Ikibah 
 
The House of Representatives Committee on Safety Standards have gained success in reconciliation of the three opposing groups within the Institute of Safety Professionals of Nigeria (ISPON).
 
In a press briefing in Abuja, Chairman of the Committee on Safety, Standards, and Regulations, Rep. Suleiman Gumi, stressed that the reconciliation was crucial for improving safety conditions across Nigeria.
 
The Chairman also explained that the committee allowed all parties to present their views, resulting in resolutions aimed at uniting the factions, and that all groups were given equal opportunities to air their grievances, culminating in a final meeting where reconciliation was achieved.
 
“As a result of this meeting, a Caretaker Committee (CTC) has been set up. The committee is tasked with organizing a conference and Annual General Meeting (AGM) to elect new executives for ISPON as one unified body. The national leaders of the institute have happily endorsed this decision, symbolizing a fresh start for ISPON. Present here with me are members of the CTC, including past presidents and notable figures who have contributed to ISPON in various ways”, Gumi said.
 
The chairman further disclosed that ISPON plans to hold a unification conference in Abuja from October 17th to 19th, 2024.
 
He added, “I am here to inform you about the upcoming unification conference and AGM. ISPON was established in 2014 by an Act of the National Assembly, but leadership disagreements following the 2016 elections led to a division into three factions, slowing down the institute’s activities. Despite intervention efforts from various bodies like the Inspector General of Police, the American Society of Safety Professionals, and others, the issues persisted. 
 
“To address this, the National Assembly established a Committee on Safety Standards, which prioritized resolving ISPON’s divisions for the good of promoting safety in Nigeria.”
 
Rep. Gumi urged all employers of labour in Nigeria to note that from October 19th, new ISPON executives will be in charge, and only certifications issued by this new body will be valid.
 
“From that point onward, all Health and Environmental Safety (HES) practitioners must obtain ISPON’s new certification to practice, as required by the ISPON Act of 2014. A revalidation process will occur, and new certificates will be distributed. We call on all stakeholders to support this unity process,” Gumi stated.
 
The Committee also advised all safety professionals to obtain the new ISPON certification to continue practicing in the country. 
 
According to him, the establishment of the Caretaker Committee was aimed at ensuring that a unified ISPON executive was in place after the conference.
 
Gumi therefore emphasized that all parties had embraced the reconciliation in a positive and celebratory spirit. He however, cautioned that anyone attempting to disrupt the process for personal interests would face consequences.
 
The unification conference is set for October 17th to 19th, 2024, in Abuja, and all relevant practitioners are required to participate in the new certification process.
 
He concluded by highlighting the importance of cooperation from all stakeholders and assured that ISPON would soon return to its rightful position as a leading safety body in Nigeria.
 
Former ISPON President,  Shaw Fregene, who was instrumental in creating the bill that established the institute, attributed the crisis to personal interests. 
 
He explained that disagreements over leadership arose in 2016, when certain members felt the leadership was no longer adhering to the rules of the institute.
 
“Once your two-year tenure is over, you should go for re-election. How can someone remain in office for six years without a mandate? That was the issue. Some individuals wanted to turn leadership into a personal property, which is wrong,” Fregene stated.
 
Similarly, former ISPON Secretary, Iyenoma Osazee, emphasized the benefits of being an ISPON member and noted that the crisis opened the door to unprofessional practices.
 
“In South Africa, foreign qualifications alone do not permit one to practice. You still need to go through their process. Here, however, the situation deteriorated, and unqualified individuals began to dominate the space. This misinterpretation of the law is what brought us here,” Osazee explained.
 
In closing, the Institute called on sponsors to support its upcoming conference.
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Edo guber: LP’s Akpata remains a front runner, set to capture Edo

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By Kayode Sanni-Arewa

Less than twenty-four hours to the start of voting in Saturday’s governorship poll in Edo State, a rash of fake news has broken out.

Leading parties in the election have had their fair shares of fake news either indicating the withdrawal of their candidates or disqualification by a Magistrate Court or Supreme Court.

For instance, Olumide Akpata of LP was said to have withdrawn from the race and thrown his support for Asue Ighodalo in a statement that read smoothly and appeared convincing.

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THE CONCLAVE sent the statement to Akpata via WhatsApp for confirmed.

He responded by sending the same statement with FAKE NEWS boldly stamped on it.
He said he was set for victory at the poll.

There was also a news flash about the Supreme Court disqualifying Asue Ighodalo of the Peoples Democratic Party, with a sign off: More details coming….

A Magistrate Court in Abuja was also reported to have disqualified Monday Okpebholo of the APC from the poll on account of age falsification.

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The APC campaign organisation had swiftly put a lie to the report by deploying the court papers in the circumstance.

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