The Time for the Establishment of Endowment Fund in All Nigerian Universities is Now

The Time for the Establishment of Endowment Fund in All Nigerian Universities is Now

Times are changing fast in Nigeria and with the unpredictable future in our economy, the Federal and State governments are faced with competing priorities as it relate to share of funding and resources.

Nigerian higher institutions, the public universities in particular, for far too long the government remains the main source of university funding. Now that the nation is experiencing severe economic downturn, our universities must begin to look inward and outward for alternative sources of funding to meet the cost of running a quality university.

Basic Policy and Practice Tips for Ministers of the Buhari Administration

Basic Policy and Practice Tips for Ministers of the Buhari Administration

Just as President Muhammadu Buhari looks to new partnership with the Nigerian people our hope is that in your capacity as a CHANGE Minister you will help to thoroughly bring reform and plant real democracy within the society.

Travel and Tourism Generated More than US$7.6 Trillion and Created 277 Million Jobs

Travel & Tourism Generated More Than US$7.6 Trillion and Created 277 Million Jobs

WTTC Travel & Tourism Economic Impact 2015

The World Travel & Tourism Council (WTTC) is the global authority on the economic and social contribution of Travel & Tourism. WTTC promotes sustainable growth for the sector, working with governments and international institutions to create jobs, to drive exports and to generate prosperity.
Travel & Tourism’s impact on the economic and social development of a country can be enormous; opening it up for business, trade and capital investment, creating jobs and entrepreneurialism for the workforce and protecting heritage and cultural values. To fully understand its impact, however, governments, policy makers and businesses around the world require accurate and reliable data on the impact of the sector. Data is needed to help assess policies that govern future industry development and to provide knowledge to help guide successful and sustainable Travel & Tourism investment decisions.

For 25 years, WTTC has been quantifying the economic impact of Travel & Tourism. This year, the 2015 Annual Economic Reports cover 184 countries and 25 regions of the world, including, for the first time, the Pacific Alliance.

Travel & Tourism generated US$7.6 trillion (10% of global GDP) and 277 million jobs (1 in 11 jobs) for the global economy in 2014. Recent years have seen Travel & Tourism growing at a faster rate than both the wider economy and other significant sectors such as automotive, financial services and health care. Last year was no exception. International tourist arrivals also surged, reaching nearly 1.14billion and visitor spending more than matched that growth. Visitors from emerging economies now represent a 46% share of these international arrivals (up from 38% in 2000), proving the growth and increased opportunities for travel from those in these new markets.

The sector faces challenges every year and this year is likely to be no different. The weakness and potential volatility of many currencies against the US dollar and a deep recession in Russia, a key outbound market, will slow outbound spending in line with slower world trade overall in 2015. However, falling oil prices will
bring significant improvements for net oil importers in 2015, easing upward pressure on living costs, increasing disposable household incomes and domestic consumer spending, and lowering air fares. As a result, Travel & Tourism expansion is forecast to continue at a stronger rate than last year, with the total contribution to GDP expected to increase by 3.7%. New destinations and investment opportunities will also continue to emerge as tourism becomes increasingly affordable across the developing world. This growth will require countries to adopt a concerted and coordinated approach to talent planning and development between their industry, governments and educational institutions to ensure they fulfil their potential in the years ahead. WTTC is proud to continue to provide this clear and empirical data in order to help both public and private bodies make the right decisions for the future growth of a sustainable Travel & Tourism sector.

David Scowsill
President & CEO
WTTC
http://www.wttc.org/-/media/files/reports/economic%20impact%20research/countries%202015/brazil2015.pdf  

 TOP NEWS OF THE DAY
Afrinolly Launches Biggest GSM Market For Nollywood And African Entertainment

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Afrinolly Launches the Biggest GSM Market for Nollywood and African Entertainment

Afrinolly Launches the Biggest GSM Market for Nollywood and African Entertainment

Afrinolly Limited the developers of Afrinolly; the most downloaded mobile application (App) for African entertainment enthusiasts to watch African movies, movie trailers, short films and music videos is launching the Afrinolly MarketPlace, a first of its kind pay per view online Global System for Mobile (GSM) platform for Nollywood, the US$5billion Nigerian film industry and for other African movies, short films and TV series.

How To Steal A Million Barrels Of Oil

~ By Smith, Robert; Simon, Julia (30 October 2014). "How To Steal A Million Barrels Of Oil". Planet Money. NPR. Retrieved 1 November 2014. 

Photo Credit: The Togo triangle: where stolen Nigerian oil disappears. 

The Togo triangle: where stolen Nigerian oil disappears. From the brilliant War on Terror board game. 

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Political Quote of the Week: Buhari Has Removed Veil of Economic Secrecy - Senator Nwaogu

Buhari Has Removed Veil of Economic Secrecy.
 ~ Senator Nkechi J. Nwaogu See full report on Daily Independent.  

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MTN Must Pay $5.2 Billion Fine - South Africa

Mr. Matamela Cyril Ramaphosa.

The Deputy President of South Africa, Mr. Matamela Cyril Ramaphosa who is a former chairman of MTN has said that MTN Group Ltd., Africa’s biggest mobile-phone company must pay the US$5.2 billion fine in Nigeria, because MTN must follow the rules in countries where it does business, Bloomberg reported on Wednesday.

“We will obviously be taking note of what is happening with a view of seeing how the company involved responds and reacts in this matter,” Ramaphosa told lawmakers in Cape Town on Wednesday. “We would like our companies to comply with the laws and regulations of countries where they operate, without violating those.” 

MTN and the other three GSM service providers, including Globacom, Airtel and Etisalat operating in Nigeria signed an agreement that set the fine at 200,000 naira (about $1,000) for each unregulated SIM card in 2011. The regulations are aimed at helping law enforcement and security forces to track criminals.

MTN has 62 million subscribers in Nigeria, which is the biggest market of the GSM company. The NCC has given MTN until November 16, 2015, to pay the US$5.2 billion fine.

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GTBank Says How Customers Can Solve BVN Challenges

GTBank Says How Customers Can Solve BVN Challenges

The management of Guaranty Trust Bank (GTB) has reacted to the current situation of anxious customers affected by the Bank Verification Number (BVN) deadline account lock-down.

Many bank customers have been affected by the Central Bank of Nigeria’s (CBN) directive that all unregistered accounts within Nigeria be resticted from debit transactions, The Herald reports.

The bank responded by providing tips to help combat the difficulties associated with the situation.

 About Bank Verification Number (BVN)

With the increasing incidents of compromise on conventional security systems (password and PIN), there is a high demand for greater security on access to sensitive or personal information in the Banking system.

The BVN gives each Bank customer a unique identity across the Nigerian Banking industry that can be used for easy identification and verification at Point of Banking operations.

Biometrics refers to identification of an individual based on physiological attributes- fingerprint, voice, facial features etc. To address existing challenges with identity management, the Central Bank of Nigeria, in collaboration with all Nigerian banks launched a centralized biometric identification system tagged Bank Verification Number (BVN)

• Benefits
• Enrolment Process
• BVN Centres Outside Nigeria
• BVN Linking
• BVN FAQs

• Your BVN gives you a unique identity that can be verified across the Nigerian Banking Industry (it is not peculiar to one Bank)
• Your Bank Accounts are protected from unauthorized access
• Its reduces fraudulent activities on bank account
• Gives easy access to Banking operations
• Your BVN is accepted as a means of identification across ALL Nigerian Banks

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Be An Astronaut: NASA Seeks Explorers for Future Space Missions

Astronaut Joan Higginbotham. Image credit: NASA.
Be An Astronaut: NASA Seeks Explorers for Future Space Missions

WASHINGTON, Nov. 4, 2015 /PRNewswire-USNewswire/ -- In anticipation of returning human spaceflight launches to American soil, and in preparation for the agency's Journey to Mars, NASA announced it will soon begin accepting applications for the next class of astronaut candidates. With more human spacecraft in development in the United States today than at any other time in history, future astronauts will launch once again from the Space Coast of Florida on American-made commercial spacecraft, and carry out deep-space exploration missions that will advance a future human mission to Mars.

The agency will accept applications from Dec. 14 through mid-February and expects to announce candidates selected in mid-2017. Applications for consideration as a NASA Astronaut will be accepted at:
http://www.usajobs.gov

PriceCheck of South Africa Records Y-o-Y Growth of 600% in Nigeria

Initially launched in South Africa, PriceCheck also expanded into Nigeria, the continent’s largest economy, in 2013. The platform now sees 25 million unique annual visitors across its two platforms, and has recorded y-o-y growth of 40% in South Africa and 600% in Nigeria, as savvy African shoppers look online for the best deals.

The largest African Price Comparison Service sold to Naspers in 2010 has just been reacquired by the original Founder and African Leading Tech Investor, Silvertree and Kevin Tucker.