ILO Warns of Growing Disparity Between Labor and Capital Income
The International Labour Organization (ILO) has raised concerns about the widening gap between labor and capital income, highlighting the challenges faced by young people in the job market. The ILO's World Employment and Social Outlook: September 2024 Update revealed that the labor income share has stagnated while a large portion of youth remain out of employment, education, or training. This...
Woodhall Capital Receives Finance House License from CBN
Woodhall Capital, a global investment and financial services firm, has been granted a finance house license by the Central Bank of Nigeria (CBN). With this license, Woodhall Capital will now be able to offer a range of financial services in Nigeria, including investment banking and asset management. The license enables Woodhall Capital to tailor innovative financial solutions to meet the...
Stakeholders Urge Government to Prioritize Local Investments to Address Brain Drain
Stakeholders have called on the Federal Government to focus on prioritizing local investments to mitigate the issue of brain drain, which has led to a significant exodus of skilled talent from Nigeria. In separate interviews with The PUNCH, stakeholders argued that improved economic opportunities and infrastructure would encourage skilled professionals to remain in the country rather than seek opportunities abroad....
Certifications Offer Specialized Expertise for Evolving Job Market
George Asamani, Managing Director of the Project Management Institute, Sub-Saharan Africa, has emphasized the value of certifications in providing specialized expertise beyond the general knowledge offered by degrees. In a statement, he highlighted the importance of certifications in meeting the demands of the evolving job market. Asamani noted that certifications, with their regular updates and rigorous standards, reflect the latest...
Nigeria Launches AI Fund to Boost Startup Innovation
The Federal Government, in partnership with Google, has announced the launch of the AI Fund, a N100 million initiative aimed at supporting Nigerian startups leveraging artificial intelligence (AI) to develop innovative solutions. The AI Fund is part of the Ministry of Communications, Innovation & Digital Economy's strategic programs to harness the potential of AI to drive development, innovation, and well-being...
Huawei Unveils World’s First Trifold Phone
Chinese tech giant Huawei has unveiled its latest smartphone, the Mate XT, which is billed as the world's first trifold phone. The launch comes just hours after US competitor Apple introduced its new iPhone, designed for artificial intelligence. The Mate XT, showcased in a sleek red and gold design, is expected to go on sale on September 20. Priced at...
WTO Emphasizes Need for Beyond Open Trade to Reduce Inequalities
The World Trade Organization (WTO) has underscored that open trade alone is insufficient to bridge the gap between wealthy and developing nations. The organization's 2024 report on global trade highlights the need for additional measures to assist poorer countries in achieving greater economic equality. In the foreword to the report, WTO Director-General Ngozi Okonjo-Iweala emphasized the transformative role of trade...
Netzence Reinforces Commitment to Nigeria’s Climate Goals
Netzence Sustainability Limited (Netzence) has reiterated its commitment to supporting Nigeria's efforts to achieve its Nationally Determined Contributions (NDCs) under the Paris Agreement. The company's innovative platform, CloseCarbon, is designed to monitor and quantify Nigeria's carbon emissions, providing valuable insights for policymakers and businesses. CloseCarbon leverages advanced data analytics and seamless integration with various data sources to track carbon emissions...
Financial Institutions to Discuss Recapitalization Impact at FICAN Conference
Key financial institutions in Nigeria, including the Nigeria Deposit Insurance Corporation (NDIC), the Central Bank of Nigeria (CBN), the Bank of Industry (BoI), the United Bank for Africa (UBA), Access Holdings Plc, and others, will gather at the 2024 Finance Correspondents Association of Nigeria (FICAN) conference to discuss the implications of the ongoing bank recapitalization on the real sector. The...
Telecom Services in Nigeria Face Disruption Amidst Ongoing Strike
A nationwide strike by workers in the telecom sector has threatened to disrupt services across Nigeria. The Private Telecommunications and Communications Senior Staff Association (PTECSSAN) has embarked on the strike to demand better working conditions, union recognition, and the reinstatement of sacked members. The union's members, who are primarily contract staff working for infrastructure companies like IHS, Huawei, and others,...
