Connect with us

Legislature

National Industrial Technology Park bill scales second reading

Published

on

A bill that is seeking to establish the National Industrial Technology Park similar to the Silicon Valley scaled second reading on Tuesday on the floor of the senate

The Bill which was sponsored by Senator Ibikunle Amosun (Ogun Central) was read for the First Time on Tuesday 16th November, 2021 
While presenting his lead debate senator Amosun indicated that the bill is targeted towards economic development, youth empowerment and capacity building. 

“The Bill seeks to establish industrial parks where Nigerian entrepreneurs can converge in a cluster, brainstorm, and showcase their ideas and creativity, thereby reducing unemployment, poverty, idleness, and lack of productivity and restiveness in the country. 

“The establishment of the Industrial Technology Park in Nigeria is imperative as it will go a long way to assisting in nurturing Nigerians to be technologically savvy and competitive, as well as serve as a veritable platform for the promotion and commercialisation of research and development.  

The objective of the Industrial Park he said is to stimulate investment and creating employment facilitating export growth and foreign exchange earnings developing industrial clusters 

entrepreneurship development

Eliciting knowledge transfer and technology spillover.

He said it will also establish connections to the global value chain

Development of research centers, Fostering sustainable growth and social equality

Utilisation of products from clusters by MSMEs within the Park.

“All over the world, industrial parks are taking the lead as incubators for innovative technology and a circular economy. “The establishment of Parks, such as this, makes it easier for companies and entrepreneurs to leverage the availability of resources, technical know-how, knowledge and professionalism, which can pave the way for developing and testing business and technology solutions.

“Let me reiterate that technology has a greater role to play in achieving the much desired economic diversification and sustainable industrial development of our nation. “Technology is also capable of addressing the imperfections of the Nigerian market and the institutional system that hampers companies’ access to information, knowledge, and new innovations. 

According to him, Industrial Parks have the ability to exploit the local potential in supporting knowledge-based business development and outline an environment where companies can interact with other supporting knowledge suppliers, thus facilitating business and local development, which will result in increased employment and revenue generation.

Furthermore, he indicated that the establishment of an Industrial Park of this nature will go a long way towards accelerating the process of reforming and diversifying the nation’s economy, by attracting innovative businesses that can generate jobs, higher incomes, and more resources for institutions. 

“When this Bill is passed into law, it will bring about technological advancement and technological self-reliance for our nation, thereby making Nigeria an industrial nation. It will also serve as a source of wealth generation and enhancement for investors and governments.  

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Legislature

NASS modifies NDLEA Act, Prescribes Life Imprisonment for Drug Traffickers

Published

on

By

The National Assembly has modified the National Drug Law Enforcement Agency (NDLEA) Act to prescribe life imprisonment for individuals found guilty of storing, transporting, or concealing illicit drugs and substances. 

The amendment was adopted on Thursday during plenary, presided over by Deputy Senate President Barau Jibrin, following broad support from the senators.

The amendment reflects a harmonised position of the Senate and the House of Representatives on Section 11 of the NDLEA Act. 

The House had earlier passed an amendment prescribing life imprisonment for drug traffickers, while the Senate had proposed the death penalty.

To reconcile the differences, a conference committee of both chambers was convened. Senator Tahir Monguno, Chairman of the Senate Committee on Judiciary, Human Rights, and Legal Matters, presented the harmonised version to the Senate. 

He urged lawmakers to adopt the House’s position of life imprisonment, arguing that enforcing the death penalty could lead to the execution of over 900 accused persons currently awaiting trial for drug-related offenses.

The Deputy Senate President who presided over the plenary had put the resolution to a voice vote, and the majority of senators supported the amendment. 

The approved version stipulates life imprisonment for offenders.
The amended section now reads:
“Anybody who is unlawfully involved in the storage, custody, movement, carriage, or concealment of dangerous drugs or controlled substances and who, while so involved, is armed with any offensive weapon or is disguised in any way, shall be guilty of an offence under this Act and liable on conviction to be sentenced to life imprisonment.”
This amendment aims to strengthen the fight against drug trafficking while addressing concerns over human rights and the judicial implications of the death penalty.
The move is part of efforts to curb the growing menace of drug trafficking and its adverse effects on Nigerian society. According to Senator Monguno, the life imprisonment penalty strikes a balance between deterrence and humane judicial practice.
With the amendment, the NDLEA now has a robust legal framework to prosecute offenders and combat drug-related crimes effectively.

Continue Reading

Legislature

President Tinubu urges Senate to approve ₦1.767trn External Loan

Published

on

By

Bola Ahmed Tinubu

President Bola Ahmed Tinubu has formally requested the National Assembly’s approval for a $2.209 billion (₦1.767 trillion) external borrowing plan to finance part of the ₦9.17 trillion fiscal deficit in the 2024 budget. The loan, included in the 2024 Appropriation Act, is critical to the government’s broader strategy for economic recovery and growth.
In a letter to Senate President Godswill Akpabio, President Tinubu noted that the borrowing aligns with the provisions of Sections 21(1) and 27(1) of the Debt Management Office (DMO) Establishment Act, 2003. He also indicated that the Federal Executive Council (FEC) had approved the plan.
The President explained that the funds would be sourced through Eurobonds or similar external financial instruments. A detailed summary of the loan’s terms and conditions accompanied the letter to guide legislative scrutiny.
“This borrowing is necessary to address the budget deficit and fulfill our fiscal strategy for 2024. Swift approval will enable us to move forward with mobilizing these funds,” the President stated, emphasizing the urgency of the request.
Senate President Akpabio referred the matter to the Committee on Local and Foreign Deb

Continue Reading

Legislature

Senator Natasha Transforms Kogi Central Schools with 5,000 Digital Learning Devices

Published

on

By

By Isah Bala

Access to quality education is a cornerstone of societal progress, and Senator Natasha Akpoti-Uduaghan is embodying this vision by bringing transformative educational tools to Kogi Central. In a groundbreaking initiative, the senator recently provided 5,000 digital learning devices to public primary and secondary schools in her district, aiming to bridge the digital divide and set a new educational standard.

The devices, unveiled at Abdul Aziz Attah Memorial College (AAAMCO), are preloaded with the Nigerian curriculum from UBEC and internationally acclaimed educational resources, including Khan Academy and Discovery Kids. Through this initiative, students will experience interactive learning, enabling them to explore subjects in depth, enhance digital literacy, and engage with complex topics in a hands-on way.

This project is just the beginning of Senator Natasha’s ambitious plan to make “smart schools” the norm in Kogi Central. She envisions a future where every child in her district has equal access to digital learning, stating, “My dream is to equip all public primary and secondary schools in Kogi Central with digital learning devices before the end of my tenure in 2027.”

Beyond device distribution, the senator’s initiative includes UBEC-led teacher training to ensure educators are equipped to integrate these tools into their classrooms effectively.
With this dual approach of student and teacher empowerment, Senator Natasha is laying a foundation that will support digital literacy and skill development for years to come.

Senator Natasha’s commitment to educational advancement represents a significant step forward for Kogi Central, ensuring that young students have access to the tools they need to succeed in an increasingly digital world. This initiative marks her dedication to the constituency that entrusted her with this mandate.

Continue Reading

Trending

Copyright © 2024 National Update