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Dangote partners German govt on youth training to address skills deficit

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DSC_2000: L-R: Former VDMA (German Mechanical Engineering Industry Association) President and Initiator of the VDMA Initiative “Skilled Workers in Africa”, Dr. Reinhold Festge; Chairman, Aliko Dangote Foundation, Aliko Dangote; Lagos State Governor, Babajide Sanwo-Olu; and Deputy Governor of Kogi State, Edward David Onoja, at the Aliko Dangote Foundation-VDMA Technical Training Programme “tagged: Nigerian Industry meets German Engineering) launch in Lagos on Wednesday, June 2, 2021

 

 

The Aliko Dangote Foundation in partnership with Germany’s VDMA (the German Association for Mechanical and Plant Engineering) and its Foundation for Young Talent in Mechanical Engineering (NWS) have officially launched a technical training program in Nigeria, in a bid to significantly address the skill deficit in all the key sectors of the nation’s economy.

Speaking at the official launching of the programme on Wednesday, the president of Dangote Group, Aliko Dangote said that the landmark program is a Seven-million Euro investment, a large percentage of which is for the specialized, leading-edge equipment that has been shipped from Germany and installed in five workshops purpose-built for this program at Dangote Academy in Obajana. He also said the beneficiaries will be trained, using these machines, so they can learn practical skills that will be transferable as they enter the work force.

This program, according to him, is the first of its kind in Nigeria, and will be replicated in all the six geo-political zones of the country.

Noting that vocational and technical skills are vital to the well-being of any economy, as key levers for growth, specifically in the manufacturing sector, Dangote said significant skills gaps exist in Nigeria, which is what this program is seeking to address.

Dangote Wins 2021 Most Admired Brand in Africa

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According to him: “The trainees that successfully pass through the full vocational training will be prepared as well-rounded professionals. In addition to the technical training, they will also get personal effectiveness trainings of same quality as our staff”

Germany’s minister for economic cooperation and development, Dr. Gerd muller, lauded the Aliko Dangote Foundation and VDMA for the enviable program that can transform and develop the economy of Nigeria. He said his ministry has supported the initiative with €3.6 million and will not hesitate to do more for the purpose of the initiatives to be achieved.

The VDMA past president, Dr Reinhold Fostge stated that “I am very happy that this has become reality eventually in Nigeria. We started six years ago. Four years ago, we signed a memorandum of understanding to establish a Nigerian German training project. This program is to raise the skill level of workers and make the youth employable…our vision in VDMA is that, in future, we should be able to exchange highly skilled professionals between Nigeria and Germany and as a matter of fact, I have no objection to inviting Nigerian specialists to help me in Germany and vice versa”

DSC_2001: L-R: Former VDMA (German Mechanical Engineering Industry Association) President and Initiator of the VDMA Initiative “Skilled Workers in Africa”, Dr. Reinhold Festge; Chairman, Aliko Dangote Foundation, Aliko Dangote; Lagos State Governor, Babajide Sanwo-Olu; Deputy Governor of Kogi State, Edward David Onoja; and President, Manufacturers Association of Nigeria, Engr. Ahmed Mansur, at the Aliko Dangote Foundation-VDMA Technical Training Programme “tagged: Nigerian Industry meets German Engineering) launch in Lagos on Wednesday, June 2, 2021

: L-R: Former VDMA (German Mechanical Engineering Industry Association) President and Initiator of the VDMA Initiative “Skilled Workers in Africa”, Dr. Reinhold Festge; Chairman, Aliko Dangote Foundation, Aliko Dangote; Lagos State Governor, Babajide Sanwo-Olu; Deputy Governor of Kogi State, Edward David Onoja; and President, Manufacturers Association of Nigeria, Engr. Ahmed Mansur, at the Aliko Dangote Foundation-VDMA Technical Training Programme “tagged: Nigerian Industry meets German Engineering) launch in Lagos on Wednesday, June 2, 2021

Meanwhile the Governor of Lagos State, Mr. Babajide Sanwo-Olu, enjoined both the Aliko Dangote Foundation and VDMA to consider citing the second training workshop in Lagos, with a promise to make funds available for the take off this laudable programme.

He said: I am truly excited to be part of this epoch and nation changing event…for us in Lagos, I am happy to announce that we have six well maintained vocational training schools… but we are going to not just talk here today, we are going to be making a public commitment that given what I have listened to now, we are not going to leave this to Dangote Foundation alone, we have to upscale our commitment.

“We wont wait for him to replicate this in the six-geographical zones of the country. Lagos State will work with him and ask the VDMA what level of commitment is required from the state government…to ensure that in no distance future, we can replicate and bring a full arm of the Dangote academy to Lagos State…we do not want government bureaucracy to stall this, if it is to raise finance that is required, I can assure you that Lagos state is ready to that and why are we making this commitment?

“It is because of where we see Lagos… the amount of the teeming youth that we have in our country and our state. Lagos has continued to be the biggest economy in our country and even in Africa, and what this present to us is an opportunity to bridge that will help to significantly reduce the unemployment level in the state”

 

Congratulating the trainees, Dangote said: “I understand that we chose only 120 of you out of over 4,000 applicants. This means you are smart, you are the best and the brightest, we believe in you, and expect great things from you. I urge you to make use of this wonderful opportunity and become productive for the well-being of our country.”

He also promised that more youth will be admitted and very soon, all the six geo-political zones of the country will witness massive development through the scheme.

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Lubricants and Nigeria’s economy

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By Cosmas Chukwunonso Nwobi

Every engine depends on oil, which serves as the heat transfer medium and lubricant for moving parts. It stops wears and damages from happening because the moving parts won’t be rubbing against one another.

The primary consumers of engine oil in Nigeria are those who own cars, generators, enterprises, tricycles, and motorcycles. Diesel and gasoline engines both utilize various grades of engine oil. Diesel engine oil is used to maintain heavy vehicles (diesel vehicles), small and large generators, as well as passenger vehicles (light vehicles). Petrol engine oil is used to maintain passenger vehicles (light vehicles).

The overall annual requirement for lubricating oils across the globe is projected to be 50 billion liters, or 60 percent automotive and 40percent industrial. However, industrial lubricants account for more than 70% of total global gross revenues and profit margins.

According to projections, Nigeria, with a gross domestic product of N150 billion in 2013 and more than N450.37 billion by the end of Q1 2021, is the third-largest user of lubricating oils in Africa, consuming 700 million liters of the substance per year (or 1 percent of the global demand).

The aggregate profit margins of the blending plants were N45 billion in 2013 and N120 billion in the first quarter of 2021. Their total assets are projected to be worth N20 billion. This indicates that domestic production of lubricating oils meets 75 percent of the country’s total demand, with imports from specialist marketing companies providing the remaining 25percent.

You might also be interested to know that, over the projected period (2021-2026), the market for lubricants in Nigeria is anticipated to develop at a compound annual growth rate (CAGR) of 1.54%, reaching 300,399.52 kilo tons by 2026. which demonstrates that the market for automotive lubricants in Nigeria is anticipated to grow to $683 million by 2023.

This demonstrates that the significance of engine oil cannot be overemphasized and that lubricant production would be a very profitable business endeavor that would considerably boost Nigeria’s economy.

However, this industry was adversely affected by Nigeria’s slowing economic growth. The 2016 recession brought on by the sharp decline in global oil prices was the root cause of the downturn. Oil prices started the year at $36.76 a barrel and reached a high of $54.06 for the year. The lack of foreign exchange had a serious negative impact on the ability of various lubricants manufacturing companies to conduct business and imposed severe costs on key sectors of the country, which further cascaded into all areas of the economy. Given that many players in the industry imported large volumes of base oil and other raw materials needed to blend lubricants at the time, this meant that the shortage of foreign exchange affected all sectors of the economy.

However, the investment landscape is currently changing and Nigeria’s lubricant industry, if properly managed, will surely triple it’s current position in a few years to come. This is due to large oil marketers taking advantage of the lubricants market’s deregulation and lack of significant government intervention.

I commend the effort of the Nigerian Government so far in reducing import charges for Lubricant Blending plants firmly advocate for the need of a driving and I strongly advocate that more can be done in this area since Nigeria’s lubricant business has great prospects for investors. Should we succeed, early investors will also benefit from pioneer status and a five-year tax break.

I firmly believe that better consumer education, cooperation with transportation companies, increased consumer knowledge, and the provision of higher-quality lubricants at lower prices would help Nigeria’s lubricant manufacturers expand and make more money.

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Best choice Specialist Hospital Launches First Intensive Infant Phototherapy Machine In Kano

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_”A Beacon of Progress in Northern Nigeria!”_

In a groundbreaking move, Best Choice Hospital has taken a significant leap forward in pediatric care with the introduction of the Infant Phototherapy Unit, a groundbreaking technology designed to treat jaundice and prevent brain damage in newborns.

In a statement signed by Auwal Muhammad Lawal Group Managing Director of the Hospital noted that pioneering technology enables medical professionals to transfuse blood with unparalleled precision, safety significantly enhancing treatment outcomes for children.

…. Noted that the innovative machine boasts a remarkable 70% radiance output and features a standard phototherapeutic unit, eliminating the need for blood transfusions.

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Auwal reiterated that introduction of this advanced state-of-art machine marks a significant milestone in Best Choice Hospital’s ongoing commitment to pediatric excellence.

With its advanced capabilities, the Infant Phototherapy Unit can effectively treat jaundice in a targeted manner, providing a beacon of hope for families.

“We understand the distress and hardship that comes with pediatric medical conditions”

“That’s why we’ve invested on this to ease the burden on families and provide children with the best possible chance at a healthy life”. Said Lawal

As the first of its kind in Northern Nigeria, this cutting-edge technology offers a comprehensive treatment solution for infants, covering the entire body with its optimal wavelength.

Dr. Abdulmalik Saminu, a leading medical expert expresses optimism that the development reinforces Best Choice Hospital’s position as a leader in pediatric care, providing families with renewed hope and confidence in the treatment of their loved ones.

Saminu further conveyed heartfelt gratitude to the hospital’s proprietor for his tireless efforts in making this life-changing technology available.

With the Infant Phototherapy Unit, families no longer need to travel abroad for medical treatment, as Best Choice Hospital now offers world-class care right in their own backyard.

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Naira depreciates to N1,635 in parallel market

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The Naira yesterday depreciated to N1,635 per dollar in the parallel market from N1,625 per dollar last weekend.

However, the Naira yesterday appreciated to N1,585.77 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.

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Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,585.77 per dollar from N1,598.56 per dollar last weekend, indicating N12.79 appreciation for the naira. The volume of dollars traded (turnover) in the market declined by 58.8 percent to $71.18 million from $172.8 million traded last week Friday.

Consequently, the margin between the parallel market and NAFEM rate widened to N49.23 per dollar from N26.44 per dollar last weekend.

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