VANGUARD, 01 OCTOBER, 2012

AIO at 40: What hope for African

insurers?/P4o

AGRA reaches 17 nations with 330 new crop varieties D

r Kofi Annan, Co-Chauman of

Alliance fot a Green Revolution in Africa IAGRA) Clnd former Secretary.General of the UN, said AGRA has reached 17 sub路Sahara African countnes with 330 new crop vaneUes.ln a keynote eddress at the_ 2012 African Green Revolution Forum (AGRF) in Arusba. Tanzania, Annan

said the crop varieties were developed by AGRA since its

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~:~:i::~~:;,~;": Scco Nigena PIc, Mr_Amresh Shnvwlavo, Programme Manager. Ogun Slate Agricultural Mr_Knnle Onasanya; Regional Bu.slness Executive - South-West. Sterling Bank PIc, Mr. Ayo Agne Finance Dept. SterHng Bank PIc., ""IS. O/ubukoJaAwoaanyo,. during the conunj,saiorung

Financed Ilquisition Scheme lor Tractor Owners and State

Operato~

A&sodation of Nigeria. held in

inception.

He sftld that more than one million small. holder lanners had benefited through training on improVed storage systems and post- barvesl handling techniques.

While lhanJo.ng AGRAsupporters and partners. Annan stressed the need for African nations to tackle the legacy of chromc under路funding in CODtinUf!!l OD page 26

Proposed Nigeria oil bill taxes are fair - minister T

ues 00 deep offshore oU projects proposed by Nigeria are "competitive and considerate-, Nigeria oil minister SaId, rejectmg complaints by foreign oil majors that the levies are too high. Shell Nigeria Managing Director, Mubu Sunmonu warned last week that tal: terms in a landmark Nigerian oil bill are so uncom~Uve they risk reodenng offshore oil and gas projects unviable, and could hadly stille investment.

Exxon. the second blg~ est oUshore operator in Nigeria. has iaid it could not lnvesl in mored~.!7\' :1!errro!ects If the Petroleum IlJdus' 1 BllllPlB)

passes in ils current form If Nigena 1$ 10 mamtain current oil reserve levels and achieve amblUons 0 1 higher production, it will be dependent on oUshore development beclluse Ihe onshore Niger.Delta has already been extensively explored overlhe last 50 years . Both houses 01 Nigeria's parliamellt have finished a first reading of a new draft of the hill meant 10 overhaullbe oil industry in Nigena, opening the way lor lawmaken to debate the long awaited legislation.

1l,,~ bill. which is meant to change evel)1.hin",J from fiscal terms 10 the st"r,. oil film. h . .> .. Iread y oeen

delayed for five years, precisely because 01 these sort of disag r eements between the admi nistration, oil majors and Iawmaken.

Billions of dollars of investment mto exploration and production are 00 bold until il passes Oil Mmister, Diezani Alison-Madueke SaId the total "government take" in the draftmeaning its total share of oil revenues after all taxes and royalues - was 73 per cent. up from 61 per cent in current deals With oil maJors. 'The proposed increase of government take CODtinUes on pa!le 26 AI

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26 - Vanguard. MONDAY. OCTOBER 1.2012

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Financialvanguam

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Cover Story

Success in your Business

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PETER OSAlOR Entrepreneurial Education Revolution: An imperative for sustainable development in Nigeria: Part 3

Bdotiem. &ecubve Director, Mobil I'todudng Nigeria (MPH). making a pre.Okorooior of Fffiera1 Unlwr.llty of Technology Owerrl during the 20 12/

2JJi'-Nf,Pi.;iE <PNI. lnlemationul Post-Graduate Scholarship Awam. thor held at Mobil Head

by SrlYo EJeanyo

AGRA,reaches 17 nations with 330 new (~rop varieties Coa lfn ued {TVIII /Mge 25

agriculture

if they the desired goals 01 'ood and nutntional securlt}' He ldded lbat the trend "..,oulc ensure (ood secunl', lilt heme and help It mUlt

~chlev~

conl1nl!utaU ( In tbe long-

term,

'lotillg that llie W.II to realile a

cba.Ue~,ge

dream :If. more prosperoUi

and equltabl路 future for aU

Afnc"'1'

-Global food system is under 61ft me pressure bec.~e

of ever inaea.mg

food cr.... iI, yti. It 1.1 also the conun,nt Wltll abundant land rHourres where long-term solullotw to lobal food and nutn~on I cunly can be found. hes d. According to Ium, h h I b<en achi_ in scalag u Abiea'i Green Revoillion by prOVIding Inves men!, but there 11 roo tor c mplac~cy and tuOl mUlt be ed I adlon reqUlred Y}HI ler ber sald developed . . . I pn"ate lector latl 11 mUlt keep of cre.ued IUpport -a'u 1culturewith all tbe u cerl nly and fiscal chall ages iI faces The Chau\nan ' laid Alnc an gOftmlf\ent~ must uphold the barga n o r agricultural lnves4n~ls' 0 rue to allf'ut 10 percent of nabonal budget al .Iedged under 2003 Maput I Declarauon as well at the right pohcle. toward )ubUc-pnvate

il-Vell

lnves~tJ: _

"

He called for increased support and recognition to small holder farmen mOlt of whom were women who conllitute the majority of farming population that would encourage subsistence, employment opportUnlbes and buslnesses He added that AGRA lupported climate smarl transformationl, capital Inveltment in farming to address large Icale land acquultion that mil. glVlng away arable landl while strenglherung the resilience of fanners to c11mate change.

In her contnbuuon. Melinda Gates. co-chan.

AGRA and jomt founder of the BW & Melinda Gates Foundauon, asked AJncan countnes to promotespeafic "Isions and to remain commItted to agncultural

developments Wlth focus on Imall holder farmen to ensure luUictent food and rich nutritional contents for their communities In hi' addre... the Prelident of Tanzania.

Jakaya Kltwete. expresled comnutments to agricultural growth lilting the country's eUorts 10 IUpport of AGRA initiatives _ Kikwete appealed to donor agencies to IUpport Africa to reaI1se ill agricultural potential and called for increased Investments in agncultural research. while ensuring that support move along With demands of Imall holder farmetl lD line with modem agricultural ituuaUves The three-day programme was attended by representaUves of government . donor organisahons and agncultura.l msUtul10ns

Proposed Nigeria oil bill taxes are fair - Minister Conlinued fr Olll lUge 25

to about 73 per cent u not only competitive but considerate when we look a t the sc ale of other enl1l1es around the world Uke Norway, Indonesia and even Angola with even higher government lake," Allson路 Madueke said In a .tatement. She added that current deepwater terms were negotiated in 1993. when otI pnces were jUit $20

a ba~_ 0tI comparues argue the fi&calterms on oU dnlling in Nlgena should be lubltantlally belter than 10 other regiOns to comJM!nsate them for the extra nlU and COlts posed by piracy, kidnapPing, mduslnal' lcale otI theft and corruption An amnesty ended political militancy In the oil-nch Niger- Delta lD 2009. but massIve otl theft hal continued unabated.

"T""Ie llndlng. of a recent .i l t udy showed that 66 cenl of t he p er undergraduates wanted to be self reliant alter g rad uation.

This mean. that undergraduates In Nigerian un iversitles have hig h p r o p ensity fo r entrepreneunhip skills. The results also sbowed that 31 per cent of the fadotl that motivated the respondents to want to go into entrepreneurship were the needs to be leU-rel..Iant while 68 per cent of the facton were due to the fear of unemployment and poverty It was also found that 62 per cent of the re.pondentl wanted to be sole proprietors, while 38 JM!r cent wanted to go Into partnershipi In assessing the level at which undergraduatet bave been equipped with entrepreneunal IIti11s and knowledge. 81 per cent of the respondents indicated that they had taken lome counes tn entrepnmeunhip in their respective institutions and tha t about 78 per cent oblerved that the programme was adequate to eqwp them to manage a busmess after gradual10n However, 18 JM!r cent of the respondents obserwd that the programme wal inadequate It wal inadequate because It Will too theoretical. wlule there were tnadequate facilities and no artisans for handling the PRlctJca.l..

On eRldJcaUon of poverty in Nigeria, 82 per cent of the respondents Indicated that entrepreneurship could eradicate poverty and unemployment in the country.

There is no gatnsaymg the (ad that entrepreneunhip is the solullon to unemployment and poverty among Nigerian youthl and graduates The Federal Government of Nigeria has taun the bull by the hom In establishlng the National Directorate of Employment (NDE) . mlllating the National Economic Empowerment and Development Strategy (NEEDS), and recenUy the Entrepreneurship Educabon in Nlgenan Univenilles .

Thele a r e a U targeted at reducing ertreme hunger and poverty by 50 per cent by the year 10 15. These are all steps m the rig bt direction_ The Nigenan government and all thOle con cerned with implementation need to take a closer loolc: at all these programmes 10 lhal muimum benefit can ~ reahsed from the huge amounl invested in them by the government The Entrepreneurship Education in Nigerian Univenities is a titUe over one year, and so would not give premature aslessment

,

There is no gainsaying the fad that

is solution to and poverty among Nigerian youths and graduates.

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but nght from the onset of the programme, the Federal Government shoulJ have let aside adequate lundl to make the programme realisable, centrel for acquiring the Ikills and actlvllles In the couTle synoPSlJ Ihould be bwlt and equipped _ArUsIllUl who educated and capable handbng these Iltills should be employed Ihould not lee the 3(1) on like other counel should be prepa graduate from universities with at ,. ." "NO I sk:ills as contained in Coune SynOpill