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National Economic Council Endorses Finance Bill 2022

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National Economic Council Endorses Finance Bill 2022

Nigeria’s vice president, prof. Yemi Osinbajo says the country is in a better position to advance its capital markets locally and globally with the largest concentration of young people in the primary market and more room to redefine exchange for international competitiveness.

Prof. Osinbajo expressed this view in his keynote speech on Tuesday in Abuja at the first capital market conference of the Nigerian exchange (NGX) group.

The vice president, who emphasised the digital transformation of the markets, highlighted the many opportunities this move would provide for the capital markets, which includes bringing in more young investors.

He advised the adoption of technology “to bring in a new crop of young investors, many of who use their smartphones primarily for engaging with commerce and banking activities today.

The vice president also noted the efforts of the NGX technology board to attract tech companies he referred to as ‘the present and future tech unicorns’ to the market as a viable option for raising capital. 

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Prof. Osinbajo, who noted that this was probably the most exciting time in the history of capital markets in Nigeria, added that the African continental free trade agreement also offered exciting new prospects for cross-border listings, activity, and the formation of long-term capital.

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Lagos Announces Traffic Diversion At Yaba Area

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Author: Eunice Johnson, Abuja

The Lagos State Government said it would be diverting traffic from Yaba as it continues the First Phase of the construction of the Red Line railways covering Oyingbo to Agbado from midnight February 1, to February 16, 2022.

In a statement, the Commissioner for Transportation, Dr Frederic Oladeinde, said the diversion was in line with the Lagos Rail Mass Transit project.

 

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Oladeinde stated that the two weeks long site activity would necessitate a diversion to protect road users during the installation of precast beams.

He also stated that signage’s would be placed on the access roads with the State’s Traffic Management Authority to manage traffic flow and minimize inconveniences.

The State Government reiterated its continuous commitment towards the development of transport infrastructure within the metropolis, maintaining that it is vital for the Multi-Modal Transportation System of the State Government which would in turn boost the economic prowess of the citizenry.

Read Also: Apapa Area Command Generates N870.3 Billion, Set to Surpass 2022 Target

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Leverage 5G Technology to Tackle Insecurity, says Buhari

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Leverage 5G Technology to Tackle Insecurity, says Buhari

President Muhammadu Buhari on Tuesday launched the national policy on 5G for Nigeria’s Digital Economy with a clear directive to all the security agencies to immediately leverage Fifth Generation (5G) technology, when deployed, to enhance security in the country.

The President who spoke at the State House, Abuja said the Federal Government will take full advantage of the opportunities that 5G provides for the economy, security and well-being of the nation.

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President Buhari also allayed fears over health safety of 5G, affirming that such issues have been ”effectively addressed” in developing a Policy that suits the country.

Commenting on the benefits of 5G technologies, the President stressed that it can support virtually every sector of the economy, including enhanced connectivity, improved healthcare, support for education while fostering smart cities, and boosting agriculture, among other advantages.

The President explained that the National 5G Policy includes a deployment plan to ensure that major cities across the country benefit from the technologies.

Read Also: Nigerians to Pay 7.5% Vat on Facebook ADs from January 1, 2022

 

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Nigeria Will Have the Widest 5G Coverage in Africa – Minister

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Nigeria Will Have the Widest 5G Coverage in Africa – Minister

The Nigerian minister of communications and digital economy, Isa Pantami has said that by 2022 Nigeria will have the largest fifth generation, 5g network coverage in Africa.

Pantami who noted this at the auction of the 3.5 gigahertz spectrum in Abuja, Nigeria, Emphasised that 5G would solve some of the security challenges in the country since the technology provides real-time services and platforms.

He noted that the report of the first set of 5G-trials was critically reviewed and showed the 5G is safe for deployment in Nigeria and would not compromise our security as a country.

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Pantami affirmed that international organizations such as the world health organizations, who and the international telecommunications union, Itu, organs of united nations, have so far confirmed that the deployment of 5G networks does not cause any adverse health effects and are safe.

Recall that the federal executive council FEC approved a national 5G policy for Nigeria’s digital economy on September 8, 2021.

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