Posted by: "Oyebisi Babatunde Oluseyi" oyebisius@gmail.com
Fri Nov 9, 2007 5:29 am (PST)
2008 Budget Speech

By

His Excellency, President Umaru Musa Yar'Adua, GCFR

At the Joint Session of the National Assembly

Abuja, Thursday, November 8, 2007

PROTOCOL

The dawn of a new millennium is a once in a lifetime experience. The
conventional resolve that accompanies the fleeting of each New Year
and the emanation of another one is amplified by the momentous feeling
that we are witnessing a spectacle of history in the making. The dawn
of a new centenary also reflects on the past.

Undoubtedly, Nigeria has experienced tremendous progress since the
turn of the century. This was made possible by our commitment and
resolve for progress, sound macroeconomic policies, a plethora of
reforms within the context of the National Economic Empowerment and
Development Strategic Initiative (NEEDS), the Millennium Development
Goals (MDGs), the Seven-Point Agenda and the implementation of the
Policy Support Instrument (PSI) framework.

The sustained rise in international oil prices was also a significant
contributory factor.

In delivering our Administration' s first budget to this august
Assembly, I am delighted to report that our economy has been one of
the fastest growing, not only in Africa but also in the world. This
growth rate is forecast to continue into 2008 and 2009. In particular,
the last five years have indicated even brighter prospects for
sustained growth. Based on current trends, real GDP growth for 2007 –
2008 is set to average 7.0% per annum, much better than the
performance of the previous two decades when GDP growth averaged 3.0%
per annum. Significantly, this rate of growth has been much higher
than our population growth rate. This has resulted in a sharp increase
in GDP per capita after a prolonged period of stagnation, from about
US$400 at the turn of the century to well over US$1000 by the end of
2007. However, in order to meet our growth and development targets by
the year 2020 it is imperative that our economy grows at an even
faster rate.

Our collective challenge today is to translate these macro-economic
gains into tangible improvements in the living standards of our
people. Despite the rapid growth of the economy, about 50% of our
population still live below the poverty line. Oil still accounts for
about 40% of GDP, 90% of exports and 80% of government revenue. The
challenge therefore is to reverse these ratios.

It is against this backdrop that I consider it a great honour to
present to this Joint Session of the National Assembly, the 2008
Budget proposal of the Federal Government of Nigeria.

In our continued efforts at fiscal reforms, this budget has been
prepared within the context of a Medium-Term Fiscal Framework, which
takes account of the forecast revenue and expenditure for the period
2008 - 2010.

Mr. Senate President,

Mr. Speaker,

Distinguished Members of the National Assembly,

The preparation of this budget has been informed by the need to be
disciplined, focussed and strategic. We placed emphasis on containing
costs so as to enhance value for money. We followed a well-defined
participatory process aimed at ensuring that spending proposals are
properly linked to our Seven-Point Agenda. All the major line
Ministries were requested to reappraise in detail their initial
proposals, keeping in view the need to strengthen public expenditure
management and ensure transparency, accountability and value for
money, with emphasis on completing on-going projects. This has helped
us to make significant spending efficiency gains. It is our intention
that this level of attention to detail will continue to underlie all
future Budget preparation and implementation.

The 2008 budget builds upon and consolidates past macroeconomic and
budgetary reforms. It gives priority to, and makes ample provision for
improving physical infrastructure, particularly power and
transportation, human capital development, the Niger Delta, and social
safety nets. These are all encapsulated in the Seven-Point Agenda of
this Administration.

Broadly, the 2008 budget provides:

• N444.6 billion for Security and the Niger Delta, which is 20% of the
total Federal Government Budget, up 6.5% from 2007 allocation;

• N210 billion for Education or 13% of the total MDA spending;

• N139.78 billion for the Energy sector, excluding National Integrated
Power Projects which will be implemented through alternative funding;
and

• N121.1 billion, that is 7% of total budget, for Agriculture and
Water Resources.

Consistent with our commitments under the Paris Club Debt settlement,
and in pursuit of the attainment of the MDGs, the 2008 budget will
devote the entire debt relief gains, amounting to N110 billion, to
carefully selected poverty reduction initiatives and programmes in
Education, Agriculture, Water Resources, Power and Social Safety Nets.

The Budget is basically about the ordinary Nigerian. It is about
accelerating the provision of basic infrastructure to improve the
quality of life of our people. It is about creating jobs and the
enabling environment for the private sector to thrive.

REVIEW OF BUDGET 2007

The 2007 Budget was predicated on a production volume of 2.5 million
barrels per day and a benchmark price of US$40 per barrel. Based on
these assumptions and a projected N100 billion from Independent
revenue sources, projected total revenue available to fund the federal
budget was N1.73 trillion. This represented a 20% growth relative to
2006. The 2007 Appropriation Act authorised aggregate spending of N2.3
trillion, made up of Statutory Transfers of N102 billion, Debt Service
of N326 billion and N1.88 trillion for MDAs. The projected deficit was
therefore N570 billion or 2.5% of GDP.

The performance of the 2007 Budget in the first half of 2007 has been
mixed. While oil prices remained well above the benchmark price of
$US40 per barrel on which the 2007 Budget was predicated, adverse
production variances, due principally to disruptions in the Niger
Delta, resulted in weak revenue performance.

The projected revenue for 2007 was estimated to be about N796 billion
short of budget expectations, of which N 339 billion would be the
impact on the Federal Budget. The implementation of the expenditure
plans for 2007 was however insulated from the effects of the revenue
underperformance through monthly releases, totalling N454 billion
which were drawn from the Excess Crude Account in the first half of
the year.

To further enhance the implementation of the 2007 Budget, we sought
your approval, after a review of the 2007 Appropriation, to redirect
available funds to the implementation of a number of key public
service reforms, including the implementation of the Consolidated
Salary Structure, on-going right-sizing of the MDAs and clearance of
local debt arrears. A sum of N170 billion in efficiency savings was
identified from within the existing Appropriation to fund these
reforms. An additional N86 billion, principally made up of independent
revenue already received was also appropriated.

At this juncture, I must put on record my appreciation and that of the
nation as a whole for the efficient and timely manner in which the
National Assembly approved the 2007 Revised Budget proposals. This has
encouraged me to believe that the budget I am presenting to you today
will be considered with similar sense patriotism. I would like to
seize this opportunity to confirm to you that, in the same spirit, I
have signed the 2007 Supplementary Appropriation Bill passed to me
after approval by the National Assembly.

THE 2008 BUDGET

We are inexorably committed to pursuing the goal of making our economy
one of the twenty biggest economies in the world by the year 2020. To
this end, we will endeavour to fast track the key parameters of our
development paradigm as outlined in our Seven-Point Agenda.

Key to our developmental aspirations is the need to maintain
macroeconomic stability and fiscal responsibility.

While our overall strategy is to focus on the completion of on-going
projects, we have also taken onboard a few new projects targeted at
improving infrastructural deficiencies.

KEY ASSUMPTIONS AND TARGETS

The 2008 Budget is based on a number of assumptions and it is driven
by the need to meet certain targets. These are:

• Oil price of $53.83 per barrel

• Crude oil production of 2.45 million barrels per day

• Joint Venture Cash Calls of US$4.97billlion

• GDP growth rate of 11%

• Inflation rate of 8.5% and

• Exchange rate of N 117 to US$1

The budget is based on a prudent benchmark price US$53.83 per barrel
to ensure that we fund the budget with predictable revenues, whilst
ensuring that the benchmark price remains realistic.

REVENUE PROJECTIONS:

Federation Account

Based on these assumptions, we expect the sum of N4.539 trillion to
accrue to the Federation Account. This represents an increase of 5.5%
over 2007. Oil Revenue is estimated at N3.629 trillion after taking
account of existing commitments to Joint Venture Cash Calls of N0.581
trillion, while Non-Oil Revenue is estimated at N0.91 trillion. Oil
Revenue represents 80% of the total estimated revenue, while Non-Oil
Revenue represents 20%.

We will continue to diversify our revenue base by further development
of the non-oil sectors of our economy which are estimated to grow by
10% in 2008.

Oil Revenue

Of the total N4.210 trillion that we estimate will accrue from Oil
Revenue, Crude Oil Sales are expected to contribute N2.345 trillion,
as against N1.6 trillion in 2007; Petroleum Profits Tax is estimated
at N1.282 trillion compared to N1.78 trillion in 2007; while Royalties
and Rents should account for N 0.583 billion as against N0.532 billion
in 2007.

Non-Oil Revenue

This is made up of Companies' Income Tax, Value Added Tax and Customs
& Excise Duties. Of the sum of N0.91 trillion expected to accrue to
the Federation Account from Non-Oil Revenue; Companies' Income Tax is
expected to account for N349 billion, as against N299 billion in 2007;
Value Added Tax should contribute N310 billion, as against N265
billion in 2007; while Customs & Excise Duties should account for N251
billion, as against N230 billion in 2007.

Federal Government Revenue

The revenue accruable to the Federal Government from the Federation
Account for 2008 is estimated at N2.026 trillion. Of this sum, the
actual amount accruable to the Federal Budget will be N1.866 trillion
as against N1.7 trillion in 2007. This is arrived at after deducting
amounts that should go to the Derivation and Ecology Fund (
N38billion), Stabilization Fund (N19billion) , Development of Natural
Resources ( N63billion), and the FCT (N41billion) .

Independent Revenue

Independent Revenue, made up of revenues that accrue exclusively to
the Federal Government from the operating surpluses and dividends of
commercial enterprises, is expected to be N120 billion.

Our estimate of total revenue available to fund the 2008 Budget is
therefore N1.986 trillion.

FEDERAL GOVERNMENT EXPENDITURE

The proposed aggregate expenditure is made up of the following:

• Statutory Transfers: N187.6 billion

• Debt Service: N372.2 billion

• Spending by Ministries, Departments and Agencies (MDAs): N1.89 trillion

Given the estimated total revenue available to fund the federal
budget, we plan a deficit of N0.56 trillion or 2.5% of GDP which will
be financed from the proceeds of the sale of government properties,
Oil Blocks Signature Bonus, privatization proceeds and domestic
borrowings.

The details of the expenditure heads are as follows.

STATUTORY TRANSFERS

In complying with the law, we will fully provide for the following
statutory transfers:

• National Judicial Council (NJC), N78 billion as against N43 billion in 2007.

• Niger Delta Development Commission (NDDC), N69.9 billion as against
N24 billion in 2007.

• Universal Basic Education Commission (UBEC), N39.7 billion as
against N35.3 billion in 2007.

DEBT SERVICE

We propose a Debt Service of N372.3 billion for 2008, representing an
increase of 25.3%, relative to 2007. This is made up of domestic,
long-term debt service of N306.2 billion and foreign debt service of
N66 billion.

DOMESTIC DEBT

The overall increase in debt service requirement for 2008 relative to
2007 is reflective of the increase in the domestic debt stock in 2006
– 2007.

These include N86 billion of pension arrears and N105 billion of
arrears owed to local contractors. In addition, N200 billion of
domestic borrowing was required to finance the 2007 Budget. The
domestic debt stock is expected to reach N1.9 trillion by the end of
this year. This figure represents an increase of N285 billion due
principally to the clearance of contractor and pension arrears,
amounting to N105 billion and N86 billion, respectively. The cost of
servicing domestic public debt is estimated at N306.2 billion in 2008.
Based on our strong fiscal position, government intends to remain
active in the debt market.

EXTERNAL DEBTS

Since our successful exit from the Paris Club debts, the structure of
our external debts has changed significantly. Our total foreign debt
stock now stands at US$3 billion, down from about US$32 billion in
2005.

I am glad to add that we have successfully exited the London Club debt
stock. Nigeria is now one of the few countries outside the
Organisation for Economic Co-operation and Development (OECD) with a
debt to GDP ratio below 20%.

This manageable debt level continues to allow us to redirect
expenditure away from debt service payments to capital spending.

Our intention is to continue to service multilateral debts as and when
due, until maturity. Our analysis indicates that there will be no
financial benefit from undertaking any restructuring or otherwise
prepaying these debts. We therefore have earmarked the sum of N66
billion for servicing our external debts in 2008.

SPENDING BY MINISTRIES, DEPARTMENTS AND AGENCIES

We propose a total of N1.89 trillion for spending by Ministries,
Departments and Agencies. This represents a 0.1% increase relative to
2007 made up of –

• Payroll of N779.3 billion;

• Overheads of N267.6 billion

• Capital Expenditure of N634.2 billion

• Consolidated Revenue Fund Charges excluding Debt Charges of N212.5 billion

Payroll and Overheads, which together constitute Recurrent Non-Debt
Expenditure, account for 55.2% of total spending, while Capital
Expenditure accounts for 33%. Within recurrent expenditure, payroll
has increased minimally to N779.3 billion, following Government
reforms in that area. Overheads have been kept in check with a
proposal of N267.6 billion, a reduction from the 2007 level. The
relatively low utilization of the 2007 capital budget accounts for the
reduction to N634.2 billion in 2008.

I will now give highlights of some key projects.

Transportation

We propose capital expenditure of N94.36 billion for the
Transportation Sector. Specifically, we have set aside the sum of
N73.1billion for Highway Construction and Rehabilitation; N6.02
billion for Survey, Mapping and Geo-Information activities; N6 billion
for Water Transportation development, including the dredging of the
River Niger from Lokoja to Warri, (including the construction of
jetties); and N9 billion for the development of Air Transportation.

To augment government spending on the provision of roads we shall
invite private investments into the sector. We have already reached
agreements with interested private sector investors for the
construction of the second Niger Bridge at Onitsha/Asaba and a Bridge
across River Benue at Bagana on the basis of a public-private
partnership.

Agriculture and Water Resources

A total of N89.95 billion is proposed for the Agriculture and Water
Resources sector.

The sum of N 31.2 billion is proposed for the construction of dams and
irrigation projects nationwide. Other key projects and initiatives
include:

• N7.2 billion for the Gurara Water Transfer project, to supply water
to the FCT and its environs

• N3.4 billion for cooperative and community tractor service in 200
centers nationwide

• Procurement of tractors and implements supplied at subsidized rates

• N0.9 billion for Buyer of Last Resort Programmes

• N4 billion for Agricultural Credits and Subsidies, including the
Fertilizer Subsidy Programme

• N 0.3 billion for the Chinese South-South Cooperation Programme

Education

We propose an allocation of N210.45 billion for the education sector,
up 12% from the N188 billion allocated in 2007. The capital component
of the allocation is N47.8billion, targeted at human resource capacity
building, upgrading of facilities in our educational institutions and
reforms to improve the quality of, and access to education. This
excludes our intervention through the Universal Basic Education
Commission, through which we are providing additional resources of
N39.7 billion to the States and Local Governments to support basic
education.

These additional resources are to upgrade infrastructure and teaching
facilities in primary schools across the nation.

Health

For the Health Sector, we propose an allocation of N138.17 billion for
2008, a 12.57% increase over the 2007 allocation of N120.8 billion.
The capital component of this amount is N49.37 billion, out of which
funds have been provided for, among others, the following projects:

• Refurbishing and equipping all Federal Tertiary Health Institutions

• National AIDS/STI Control Programme, including the procurement and
distribution of ARVs and test kits

• Rollback Malaria Programme, including the procurement of new drugs
for malaria case management and insecticide treated nets

• National Programme on Immunisation for routine immunisation

• Capacity building and training for 5,000 health workers on
integrated management of childhood illnesses.

Energy

We have allocated N139.78 billion to the Energy sector. This
represents an increase of 15.6% over the 2007 allocation of N118
billion. The capital component of this is 114.4 billion, out of which
funds have been provided for the completion of 32 on-going Power
Transmission Projects and the rehabilitation of key power stations
nationwide.

Alternative funding will be sourced for ongoing work on the National
Integrated Power Project in the Niger Delta region with expected
output of 2,555MW.

Security

We intend to enhance the capacity and preparedness of our security
services. We have therefore proposed a total allocation of N444.60
billion for the military and the Police. We are providing our security
services with all requisite force enablers and multipliers, including
arms and ammunition, improved information and telecommunications
equipment and facilities, riot control equipment, training and
retraining, and sundry logistics support. We are also rehabilitating
the residential and office accommodation of the security services.

MDGs

Included in these allocations, as outlined earlier, are the debt
relief savings for 2008 totalling N110 billion. As earlier stated,
these savings will be used exclusively to support and scale up
spending on MDG-related initiatives and programmes. In this respect,
we shall increase investments in areas that performed well in the 2007
budget. Of the N110 billion debt relief savings, we propose to
allocate N59.3 billion to the States and FCT as Conditional Grants,
for targeted, result-oriented expenditures. This is a safety net
programme targeted at ensuring that the rural poor have access to
markets and credit, as MDGs are better attained through the States and
Local Governments. The role of the Federal Government is to ensure the
judicious application of these grants and to support the efforts of
the States and Local Governments that have demonstrated commitment to
reform, good governance and the socio-economic development of their
people.

The detailed budget contains a list of the priority projects earmarked
for completion this fiscal year in each sector.

Pensions

We are providing N99.7 billion for pensions under the Pay-As-You-Go
System for the 2008 fiscal year, to ensure that our pensioners are
paid as and when due.

Public Service Reforms

To ensure that our Public Service Reforms continue, we have set aside
the sum of N22.5billion in 2008 to support this programme. Our aim is
to continue to improve service delivery in the Public Service.

CONCLUSION

Mr. Senate President,

Mr. Speaker,

Distinguished Senators,

Honourable Members of the House of Representatives,

We have a historic opportunity to build a strong and resilient economy
which will result in tangible benefits for the generality of our
people. We do not under-estimate the challenge.

However, with your continuing support, I am confident that we can,
together, lay the solid foundation of a bright and prosperous future
for our nation.

We must have the courage to do all that is right, decent and
compassionate; all that needs to be done for our nation's restoration.
We must do this always with strict adherence to the rule of law and
due process, however inconvenient sometimes. We must not shy away from
the path of fiscal responsibility and prudence.

Before I end this address, it is apposite that I inform this august
Assembly that I have assented to the Fiscal Responsibility Bill after
due consultation with the State Governments whose support and
concurrence is critical to the successful nationwide implementation of
the provisions of the law. It is hoped that this will help to
institutionalise and formalise the observance of fiscal discipline.

I must restate our Administration' s appreciation of the thorough and
expeditious manner in which the National Assembly has consistently
considered matters brought before it by the Executive.

I am reassured by this very cooperative relationship, founded on
mutual respect and a mutual recognition of our shared responsibility
to rebuild our nation and reposition her for democratic good
governance, peace, security, sustained growth and development.

Mr. Senate President,

Mr. Speaker,

Distinguished Members of the National Assembly,

It is with utmost regard and respect that I lay before you the 2008
Budget of the Federal Government of Nigeria for your consideration. I
pray that God in his infinite grace and mercy will guide all of us to
provide selfless and sincere service to our people.

I thank you most sincerely for listening. May God bless the Federal
Republic of Nigeria.

--
Oyebisi Babatunde Oluseyi
Coordinator: Membership, Advocacy and Campaigns
Nigeria Network of NGOs
No 25 Ogunlana Drive, Surulere
Lagos
Tel: +234 802 836 7748, 703 968 6500
E: seyi@nnngo.org, oyebisius@gmail. com
U: www.nnngo.org

Posted by: "Dayo Israel Inc." dayoisrael@yahoo.co.uk dayoisrael
Fri Nov 9, 2007 12:55 am (PST)
Queen invites London Metropolitan University Law student to Buckingham Palace reception Her Majesty Queen Elizabeth II has invited 21-year-old London Metropolitan University Law student, Temidayo (Dayo) Israel-Abdulai, to a reception at Buckingham Palace that marks her forthcoming visit to Uganda this November for the Commonwealth Heads of Government Meeting (CHOGM.)

Dayo has been invited alongside other African leaders in the UK and is the youngest person to attend a reception of this kind at the Palace. His invitation comes as a result of his outstanding commitment to Africa and Africa’s Diaspora Youth Development.

Dayo, who has met many other world leaders such as Nelson Mandela, Kofi Anan and President Obasanjo, said it was an honour to receive an invitation of this kind from the Queen. ‘I believe it will give me an opportunity to see what goes on inside such a powerful palace,’ he commented.

President of the University’s Nigerian Society and a valued member of London Met’s student volunteer schemes, Dayo is an influential and impressive student whose history of extra-curricular activity includes a visit to Malawi in 2005 to attend the United Nations Young General Assembly Annual Session and the development of the Africa Diaspora Youth Forum.

At London Met he has served as Peer Support Officer and as a Student Academic Representative for the Department of Law, Governance and International Relations, and has also been a member of the Student Welcome Team.

In his role as President of the Nigerian Society, Dayo he has put together a monthly ‘Black Student Business Networking Evening’ on the last Tuesday of every month. He has also served as President of the University’s Human Rights Society and as Leader of the University’s Law Society and Christian Union.
Dayo’s influence stretches beyond the University.

All year round he hosts a series of Youth Empowerment and mentoring tours across the United States, and currently he is working as a British Red Cross Humanitarian Citizen Ambassador and as a Special Representative of the Young General Assembly UN Meetings.

In September, Dayo addressed the Youth Session of the UN, commemorating the International Day of Peace at the UN headquarters in New York. In attendance were the UN Secretary General, Bai Ki Moon, and the UN Goodwill Ambassador and celebrated actor, Michael Douglas.

This December, Dayo is leading a youth delegation on a special pilgrimage to Israel, which is being hosted by the Diplomatic Community in Israel.

Dayo has won many awards for his work, including the People Working Earnestly for Africa (PEWA) Award, the Gathering of African Best (GAB) Award, and, in January 2007, he was a finalist in two categories for the biggest youth award in Africa, The Future Nigeria Award. He was also a finalist for the Young Person of the Year Award and the Youth Advocacy Award, all culminating in his invitation to Buckingham Palace.

7 November 2007

http://www.londonme t.ac.uk/news/ latest-news/ queen-invites- london-metropoli tan-university- law-student- to-buckingham- palace-reception .cfm

Posted by: "Oluwakorede Asuni" oluwakoredeasuni@gmail.com brosko4real
Thu Nov 8, 2007 1:24 am (PST)
Dear All,

I am pleased to introduce to you the Non – Profit Employee Motivation
Program (NEMP), a capacity building initiative for Non-Profits by the
Paradigm Initiative Nigeria (PIN).

NEMP is geared towards achieving overall increased productivity of staff
of Non Profits in Nigeria, the project has amongst others the following
cardinal objectives:
- To motivate employees for better organizational productivity;
- To motivate employees towards Personal Development within
organization’ s career space;
- To introduce employees to the win-win scenario in organizational growth;
- To encourage employees to move from local actors to glocal (think
global, act local) players
- To give maximum value to donor funding and organizational capacity
building

The program has become necessary after our evaluation of the Non Profit
space in Nigeria, revealed that:

- Non-profits are worried that staff are not motivated
- Budget constraints and organizational models often mean low pay
- Organization leaders wish that employees will have their own kind of
passion and ignore limiting conditions
- It’s not about the money or any other thing, its about the value of
people and their attitude to work
- Organizations wish to increase employee efficiency with minimal budget
growth
- Every organization would love to grow in reach (to become global)
- Every donor will like to see their grantees become increasingly better
and global
- Every NGO network will like to see members improve in capacity

The program will have at its core the following courses to be delivered
by experienced facilitators:

- Choosing a Non-Profit Career
- Understanding the Non-Profit Space
- Personal Growth for Non-Profit Actors
- Improving Organizational Efficiency
- Managers, Entrepreneurs and Intrapreneurs
- Becoming Glocal Players

Note however, that the trainings can be tailor made to suit your
organizations specific needs.

Charges for the program are moderate considering the nature of our
targeted audience, but will depend largely on the preferred method of
delivery-in your office or in a retreat setting, staff strength and
location.

Let us know what you think and let’s take things from there.

Looking forward to hearing from you at your earliest convenience.

Thank you.
---
-------

Oluwakorede Asuni
Paradigm Initiative Nigeria
18 Akinbola Street
Ilupeju 100252
Lagos
Nigeria
+234 805 624 9391
www.PIN.org. ng

Posted by: "dozen odedina" dozenhost@yahoo.com dozenhost
Tue Nov 6, 2007 8:19 am (PST)
Are you interested in working for one of the most innovative International company?
LFR Communications, Inc. founded Graphcard, which is among the first 10
payment systems for the entire web and one of the first to finally break the barriers preventing the underserved from participating in e-commerce. We have users in over 100 countries and still growing.

We are interested in hiring the smartest people to join our growing team

Integration Specialist
Product Marketing Manager
Sales Manager
Legal Counsel
Public Relations Specialists
Finance Officer Job Title: Integration Specialist

Requisition Number: 001
Work Location: VTN Nigeria

Description:

Develop a working plan and design reusable models to be used in connecting merchants to VTN remotely or otherwise
Work with web merchants to connect their web site to VTN
Study and understand different web platform and scripting languages such as ASP, JavaScript, PHP, ASP.NET, Ajax, CSS, and HTML
Deliver solutions to merchants in line with the companies policy and agreement with merchants.
Analyze, plan and design, the implementation procedure for each web site to be connected to VTN
Prioritize tasks and ensure that solutions are appropriately delivered on time.

Requirements:

Good working knowledge of payment system connectivity on the web
Very Strong in Business Applications and technologies to support the main business processes.
Knowledge of ASP, PHP, HTML, JavaScript, XML and EDI
Experience with various web platforms/servers such as Windows servers
Ability to travel to customer¡¦s location to train or connect their business to VTN

Other information:

Benefits:
VTN offers attractive compensation package and relaxed work environment

To apply for this position, please send us your resume plus salary requirements and at least 2 references to:

jobs@virtualtermina lnetwork. com

Job Title: Product Marketing Manager
Requisition No. 002
Category Marketing / Sales
Work Location: VTN Nigeria

VTN is looking for a Product Marketing Manager to focus on marketing our payment solution to businesses in all its aspects¡K positioning,

financials, markets, technology, competition, customers, etc. This individual will support, and recommend, our solutions and provide a roadmap

to attaining our goals on a nationwide basis. This individual will collaborate with the Vice President Product development on continuation efforts

with our existing product line and new product development efforts. In addition, this position will recommend the business development effort in

targeted vertical markets.

Our mission is to be the world¡¦s leading payment solution provider for the emerging markets of Africa. We are the first company to offer a truly

working Web/Mobile payment solution for the Nigeria market. VTN's brand is based on innovation: innovation in the products and services we develop.

Primary Job Responsibilities:

VTN is a mobile and Web payment system developed for the African market to power real-time settlement of funds for ecommerce
The Product Marketing Manager will define a a goal to make VTN a house hold name among businesses, utility companies and individuals by translating our vision into reality in Nigeria

Key responsibilities include:
Defining product strategies by evaluating product opportunities and associated financial benefits and building business cases to evangelize and

prioritize products across the company
Marketing VTN's value to businesses, government establishments, schools and documenting and presenting business requirements with

quantified business case / ROI justifications to these potential merchants
Developing business and product requirements documents for the various product strategies and collaborating with other product managers and

business owners to define the business goals and metrics
Meeting with the VTN community to further identify how various buyer and seller segments use VTN to make purchase decisions, list their items,

fulfill orders and reduce potential fraud to improve the overall Seller experience
Identifying and justifying creative product solutions to enhance the VTN buying, selling and transaction experience across the national marketplaces

Working with third party partners to build relationships and identify opportunities to build comprehensive product solutions

Education:
Bachelors Degree Required plus at least 5 years Marketing and branding experience

To apply for this position, please send us your resume plus salary requirements and at least 2 references to:

jobs@virtualtermina lnetwork. com

Job Title: Sales Manager
Requisition Number: 003
Work Location: VTN Nigeria

The Sales Manager is responsible for generating, qualifying and closing sales opportunities for VTN using email, media and any other methods

to reach out to existing or new prospects.

Key responsibilities include but not limited to:

Plan, priotize and conduct outbound and accept inbound calls.
Educate and assist customer in the decision making process when considering signing up for VTN merchant account
Actively solicit potential customers into paying customers
Response and follow-up on all inbound email inquiries
Communicate VTN Value clearly to new prospects

Job Requirements ¡P

Understanding real-time payment solution, the scalability and the net effect on ROI
Good grasp of electronic commerce applications in online payment space
Minimum 18 months sales experience.
Excellent interpersonal skills.
Proven organizational skills and attention to detail.
Ability to effectively communicate complex messaging in e-mail and over the phone.
Manage sales pipeline, leads and activity reports.
Ability to provide constructive feedback.
Ability to adapt in a fast paced environment and willingness to learn new things
Good working knowledge of word processing, excel spreadsheets and email. (Outlook)

Education:
Bachelors Degree plus at least 3 years experience in sales or marketing

To apply for this position, please send us your resume plus salary requirements and at least 2 references to:

jobs@virtualtermina lnetwork. com

Job Title: Legal Counsel
Requisition Number: 004
Work Location: VTN Nigeria

Responsibilities:
Ensure that VTN is in compliance with Nigeria law as it applies to fair trade practices, electronic payment and ecommerce

Ability to draft and negotiate commercial contracts
Provide legal advice on products and services, and working closely with the management to comply with applicable regulations.

Job Requirements:

Understanding of the Internet technology as it relates to financial services

Candidate should be a strong advocate on behalf of the consumer, the merchant and the company, with ability to recognize risk and think

creatively of ways to reduce risk and ensure compliance regionally.
Should be a team player with flexibility, excitement over new opportunities, and enjoyment of working in teams.

Education:
Bachelors Degree plus at least 5 years of legal experience preferably in financial services and electronic payments regulations, commercial contracting experience, and corporate law

To apply for this position, please send us your resume plus salary requirements and at least 2 references to:

jobs@virtualtermina lnetwork. com

Job Title: Public Relations Specialists
Requisition Number: 005
Work Location: VTN Nigeria

Responsibilities:

Prepare or edit organizational publications for internal and external audiences, including employee newsletters and stockholders' reports.

Respond to requests for information from the media or designate another appropriate spokesperson or information source.

Establish and maintain cooperative relationships with representatives of community, consumer, employee, and public interest groups.

Plan and direct development and communication of informational programs to maintain favorable public and stockholder perceptions of an

organization' s accomplishments and agenda.

Confer with production and support personnel to produce or coordinate production of advertisements and promotions.

Arrange public appearances, lectures, contests, or exhibits for clients to increase product and service awareness and to promote goodwill.

Study the objectives, promotional policies and needs of organizations to develop public relations strategies that will influence public opinion or

promote ideas, products and services.

Confer with other managers to identify trends and key group interests and concerns or to provide advice on business decisions.

Consult with advertising agencies or staff to arrange promotional campaigns in all types of media for products, organizations, or individuals.

Coach client representatives in effective communication with the public and with employees.

Prepare and deliver speeches to further public relations objectives.

Purchase advertising space and time as required to promote client's product or agenda.

Plan and conduct market and public opinion research to test products or determine potential for product success, communicating results to client

or management.

Education:
Bachelors Degree plus at least 5 years experience as a Public Relations Specialists

To apply for this position, please send us your resume plus salary requirements and at least 2 references to:

jobs@virtualtermina lnetwork. com

Job Title: Finance Officer

Requisition Number: 006
Work Location: VTN Nigeria

Responsibilities:

The Finance Officer is responsible for maintaining financial, accounting, administrative and personnel services in order to meet VTN budget requirements and operations.

The primary function of the finance officer is to ensure that all pending VTN withdrawals are paid in a timely manner as directed

The Finance Officer reports to the regional head and is responsible for preparing financial statements, maintaining cash controls, preparing the payroll and personnel administration, purchasing, maintaining accounts payable and managing office operations.

RESPONSIBILITIES

Administer and monitor the financial system in order to ensure that the VTN finances are maintained in an accurate and timely manner
ƒnAssist with preparation of the budget and ƒnImplement financial policies and procedures
Establish and maintain cash controls
ƒnEstablish, maintain and reconcile the general ledger
ƒnMonitor cash reserves and investments
ƒnPrepare and reconcile bank statements
Establish and maintain supplier accounts
ƒnProcesses supplier invoices
Maintain the purchase order system
ƒnEnsure data is entered into the system
ƒnIssue cheques for all accounts due
ƒnEnsure security for all transactions and monitor withdrawals on VTN accounts
Ensure transactions are properly recorded and entered into the computerized accounting system
ƒnPrepare income statements
ƒnPrepare balance sheets

Qualifications:
HDN/BSC. in Accounting, a minimum of 5 years working experience. Professional qualification in ICAN, ACCA a plus

To apply for this position, please send us your resume plus salary requirements and at least 2 references to:

jobs@virtualtermina lnetwork. com

Posted by: "Oyebisi Babatunde Oluseyi" oyebisius@gmail.com
Thu Nov 1, 2007 9:23 am (PST)
*An Open Letter to All Youths in Commemoration of the African Youth Day*

* *

Today marks another history in our life as Africans and as young people as
we celebrate the African Youth Day. This years' theme gives an opportunity
for us to X-ray our relationship as young people with Adults under the
banner of *Youth-Adult Partnership for Sustainable Development* .

*I do not* belong to the school of thought that says our adults have failed
us, rather I pitch my tent with those who believe in learning from the
mistakes, experiences and forward looking ability of the adults in order to
shape their future and nation at large- To me this is what a Youth-Adult
partnership should look like.

Africa remains a global asset for foreign investment even though it suffers
from poverty and diseases- which are both preventable if we muster the
needed courage to hold our adults- leaders accountable to their promises.

A sustainable development plan without us-young people- agents of change
will fail however, how prepared are we as young people to work within the
sustainable development framework. The time is now for us to re-educate
ourselves, develop both our internal and external capacities for purposes of
engaging meaningfully with adults in Government.

Shunning corrupt practices and the attitudes of working for "self alone"
becomes imperative if Africa is to get its rightful place amongst the comity
of Nations, as leaders of today, we owe ourselves the duty to continue to
stand up and speak out against poverty and diseases while remembering that
our generation has all the resources it needs to put an end to poverty.

African brothers and sisters, the time for pampering each other with words
is gone, the time is now when we have to take action starting from our
immediate communities and constituencies, we have the energy, time and
capacity to rewrite the history of our continent if only as youths we will
forge a common front, learn from mistakes of the past, build sustainable
mentoring relationship with good adults with the sole aim of evolving
effective partnerships for sustainable development.

Happy celebrations!

Oyebisi Babatunde Oluseyi
--
Oyebisi Babatunde Oluseyi
Coordinator: Membership, Advocacy and Campaigns
Nigeria Network of NGOs
No 25 Ogunlana Drive, Surulere
Lagos
Tel: +234 802 836 7748, 703 968 6500
E: seyi@nnngo.org, oyebisius@gmail. com
U: www.nnngo.org

This email is confidential and intended solely for the use of the individual
to whom it is addressed.
If you are not the intended recipient, please note that you have received
this email in error and that any use,dissemination,
forwarding, printing, or copying of this email is strictly prohibited.

The Nigeria Network of NGOs (NNNGO) is the first generic membership body for
civil society organizations in Nigeria that facilitates effective advocacy
on issues of poverty and other developmental issues. Established in 1992,
NNNGO represents over 800 organizations ranging from small groups working at
the local level, to larger networks working at the national level

P Please don't print this e-mail unless you really need to. Thank you.