Business

TVET: Benin Chamber Seeks Policy To Promote Private Sector Participation

Published

2 years ago

November 29, 2023

The Benin Chamber of Commerce, Industry, Mines and Agriculture (BENCCIMA) has called for the formation of a policy that would enhance private sector participation in Technical and Vocational Education and Training (TVET) in Edo State.

Mr Austin Atakpu, President, BENCCIMA, made the call at a meeting with representatives of the Edo State Board for Technical and Vocational Education and Training on Tuesday in Benin.

Atakpu said that the Organised Private Sector (OPS) was ready to support TVET when a policy that would allow them to make inputs was put in place.

“TVET is a programme that covers skills acquisition; and in developing skills, you will require apprenticeship and internship.

“TVET can not run without the organised private sector. The OPS will house those programmes, give the necessary training and at the end of the day, ensure that the trainees stay through the programme.

“There must be a policy document to enhance such arrangement, and the OPS must have a buy-in.

“The government and the private sector must be willing to partner together, the OPS will only buy in if they contribute to the policy document,” he said.

On his part, Dr Terseer Nyulaku, Acting Executive Secretary, Edo Board for Technical and Vocational Education, said the meeting was to mobilise private sector participation and partnership in TVET.

He said, “we have come to mobilise private sector participation and partnership, and this is germane for any technical and vocational training to be useful.

“You need the private sector because they are the employers; they are the key social partner in the process.

“We have come to BENCCIMA to solicit for their partnership, especially as we plan to launch the Edo State Technical Talent Development Policy,” he said.

Business

Naira Records First Appreciation Against US Dollar As Foreign Reserves Hit $46.7bn

Published

11 hours ago

November 19, 2025

Editor

The Naira recorded its first appreciation against the United States dollar at the official foreign exchange on Tuesday this week.

The Central Bank of Nigeria’s data showed that the Naira strengthened on Tuesday to N1,447.43 per dollar, up from N1,448.03 exchanged on Monday.

This means that the Naira gained N0.6 against the dollar on a day-to-day basis.

Meanwhile at the black market, the Naira remained unchanged at N1,465 per dollar on Tuesday, the same rate exchanged on Monday.

Checks on Nigeria’s foreign reserves showed that it has risen to $43.97 billion as of November 17th, 2025, according to the Central Bank of Nigeria’s data.

Meanwhile, the apex bank governor, Olayemi Cardoso, in an event on Tuesday, said the country’s foreign reserves rose to a seven-year high of $46.7 billion as of November 14.

Business

Dangote Sugar Announces South New CEO

Published

12 hours ago

November 19, 2025

Editor

Dangote Sugar Plc has announced Mr Thabo Mabe, a South African, as its new Group Managing Director and Chief Executive Officer.

This follows the sudden resignation of Mr Ravindra Singhvi, an Indian.

The company disclosed this in a shareholders’ notice on Tuesday, in compliance with Nigerian Exchange Limited regulations.

Mabe’s appointment takes effect from December 1, while Singhvi’s resignation is effective from November 3ⁿ2025. The firm did not state a reason for Singhvi’s resignation.

“Mr Singhvi made significant contributions to the growth and transformation of the company and leaves behind a record of operational excellence,” the statement, signed by Mrs Temitope Hassan, Company Secretary and Legal Adviser, read.

Business

Naira Records Second Consecutive Depreciation Against US Dollar

Published

1 week ago

November 12, 2025

Editor

The Naira recorded its second consecutive depreciation against the United States dollar at the foreign exchange market on Tuesday to continue the bearish trend this week.

The Central Bank of Nigeria’s data showed that the Naira further weakened on Tuesday to N1,438.71 against the dollar, down from N1,437.2933 exchanged on Monday.

This means that the Naira again dropped by N1.42 against the dollar on Tuesday on a day-to-day basis.

At the black market, the Naira remained flat at N1465 per dollar on Tuesday, the same rate traded on Monday.

This is the second consecutive decline of Nigerian currency at the official market since the commencement of this week.

Meanwhile, the country’s external reserves had continued to rise, standing at $43.37 billion as of Monday, 10th November 2025, up from $43.35 billion on November 7.