Business

CISPMN Advocates professionalism in Nigeria’s Procurement process

Published

3 years ago

December 18, 2022

Joel Ajayi

The Chartered institute of Purchasing and Supply Management of Nigeria CIPSMN, has Revealed that budget implementation in Nigeria suffers heavily as a result of unprofessional procurement officers handling procurement services in MDA’s.

The CIPSMN at weekend in Abuja during its 2022 Annual General Meeting in Abuja also frowned at inability of the government to inaugurate the National Council of Public Procurement established since 2007.

Speaking shortly after the AGM, a fellow of the Chartered Institute of Supply Management of Nigeria and North central zone Coordinator Abdul Mamman said the economy is wobbling in the country because unprofessional people were in charge of procurement process MDA’s across the country.

According to him, Procurement process is very important to the growth and development of any country and if Nigeria wants to experience acceleration, it must get right procurement wise.

“What we are seeing now in Nigeria, is that the economy has been wobbling. government is trying but whatever good intention they have, if the structures that are to implement the plan are not properly trained it’s a big problem.

“For example, the National Council of Public Procurement since 2007, which is already established, the first chapter of the act has not been inaugurated.

“It is unheard, to train procurement officers for three weeks to handle professional job and push them to work. No wonder every year the National Assembly voted for a huge money in terms of budget implementation and there is no much improvement, the truth is that, ineffective procurement practice will also lead to ineffective budget implementation.

“If procurement are not carryout effectively and efficiently as expected, definitely the budget implementation will suffer.”

He however, called on all governments at all levels fora a change of mind and practice by allowing professionals to do the procurement process within the civil service that will add value to whatever they are doing.

On his own, outgoing President of Institute Alhaji Jubril Ado said the minimum duration for any procurement officer to be professional is 18 months and above not sharp-sharp practice of three week embarked upon by some MDAs.

President also reiterated the institute commitment to improve and better procurement system that will further growth Nigeria.

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Business

FG, Investonaire Academy Unveil National Programme to Equip 100,000 Youths with Financial Skills, Digital Wealth Tools

Published

5 days ago

November 25, 2025

The Gleamer

By Joel Ajayi

The Federal Government, in collaboration with Investonaire Academy, has unveiled a nationwide financial literacy and wealth-building programme targeting more than 100,000 young Nigerians. The initiative is designed to equip participants with practical skills in budgeting, saving, investing, asset building, and long-term financial planning, positioning them for sustainable prosperity in a rapidly evolving economy.

Launched on Tuesday in Abuja, the Honourable Minister of Youth Development, Comrade Ayodele Olawande, described financial literacy as a necessary survival tool for young people confronting today’s economic realities.

He noted that the initiative represents the foundation of a broader vision expected to extend beyond Nigeria to other African nations and global markets.

Reaffirming the Federal Government’s commitment to supporting over 4,000 corps members annually, the Minister said the programme will provide platforms, resources, and skills needed for both job creation and employability.

“The young people who understand money — how to save, invest, build assets, and manage risk — are the ones who will lead Nigeria into prosperity,” he said.

A major highlight of the launch was the expansion of the Nigeria Youth Academy, a digital platform offering mentorship, training, and startup support. According to the Minister, more than 200 startups will receive empowerment through the Academy’s e-app platform before the end of the year.

He stressed the need for deeper collaboration with private organisations, innovators, and youth-focused groups, noting that government alone cannot drive youth development. He further encouraged young Nigerians to embrace skills acquisition, innovation, and digital enterprise, saying these remain critical to reducing the desire for migration and increasing self-reliance.

Outlining the Ministry’s long-term commitments, Olawande emphasized three priorities: supporting youth innovation, equipping them with growth tools, and safeguarding millions of Nigerian youths under the Ministry’s mandate.

Speaking at the launch, Sebastien Sicre, Chief Operating Officer of Investonaire Academy, said the programme was crafted to revolutionize the way Nigerian youths learn and apply financial knowledge. He highlighted the Academy’s gamified Learning Management System (LMS), which offers interactive learning tools, community forums, and real-time mentorship to make financial education engaging and accessible.

Complementing the digital platform is a new 200-square-metre physical training centre in Abuja, opposite the NNPC Towers, where in-person workshops and mentorship sessions will take place.

The curriculum covers key global asset classes — including equities, commodities, forex, and indices — ensuring participants gain a broad understanding of financial markets.

Sicre added that with Federal Government backing, the programme seeks to unlock new opportunities, strengthen youth participation in the digital economy, and reward outstanding participants through a $1 million funding pool to support new and existing ventures.

International Programme Director of Investonaire Academy, Dr. Enefola Odiba, explained that the initiative aims to bridge long-standing gaps in financial education among Nigerian youths. While schools teach many subjects, he said, essential financial skills are often missing.

“Many people can earn money — earning money can be easy. The real challenge is retaining, managing, and growing that money,” he noted.
Referencing the Central Bank of Nigeria’s definition of financial literacy, Odiba stated that implementation remains a major national challenge. He said the initiative brings together government agencies, youth groups, academic institutions, and private-sector partners to translate strategy into measurable impact.

The programme’s curriculum covers budgeting, saving, investing, and financial planning — areas where many young people struggle. By offering practical training, real-world insights, and guided mentorship, the initiative aims to build a generation of financially empowered youth capable of driving innovation, entrepreneurship, and sustainable economic growth.

With this partnership, the Federal Government and Investonaire Academy share a common goal: to empower young Nigerians with the financial intelligence and digital tools needed to build wealth, grow businesses, and transform the nation’s economic future.

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