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Nigeria Suspends issuance of Free Trade Zones Licenses

Confidence Okwuchi
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By Jennifer Inah, Abuja

The Nigerian Government has suspended the issuance of licenses for the operation of the Free Trade Zones, FTZ in the country.

Minister of Industry, Trade and Investment, Mr Adeniyi Adebayo announced the suspension at the inauguration of the panel set up for the evaluation of the performance of FTZs,

He said all applications for FTZ licenses would henceforth not be processed pending the completion of the panel’s assignment.

The Minister noted that the key objective of the panel was to provide a set of recommendations to inform government strategy on FTZs based on a thorough evaluation off the current operations of FTZs.

Besides, the panel would work through context of the terms of references provided to deliver a clear and detailed report within eight weeks of inauguration.

Strategies to Evaluate Operations
The Panel which also has the Minister of State in the Ministry,  Ambassador Mariam Katagum as member; will map out and implement clear strategies to evaluate the operations of recipients of FTZ licenses for the purpose of delivering world-class FTZs as expected under the Presidential Priority Projects, PPP.

He noted that FTZs in the country have not performed to expectations in terms of impacting positively on the industrial development of the country as witnessed in developed countries.

“It is important to note that FTZs in most developed countries have contributed successfully towards their industrialization process. The model was adopted by the Asian Tigers and today most countries, including African countries are beginning to key into the idea.

“Nigeria through the Federal Ministry of Industry, Trade and Investment (FMITI) has begun delivery of world-class FTZs across the country. However, due to poor implementation, we are yet to take delivery of the dynamic potentials of FTZs as an instrument for economic growth,” he explained.

Free Trade Zone Operators
The Minister disclosed that Nigeria presently has 33 licensed FTZ operators in the country but added that due to poor implementation only 12 are operational.

According to Mr Adebayo, “Currently the performance of FTZs licensees has been below expectation and this heavily impacts our ability to deliver on crucial priority areas of the government. FTZs are key to the nation’s push towards industrialisation and will have a significant impact on Nigeria’s trade and economic fortunes which is greatly required given the current economic challenges. Globally, FTZs account for 68 million jobs and generate USD 500 billion annually.”

“The sector can be extremely lucrative if executed efficiently and we must aim to improve the operation of our zones,”  the Minister added.

Confidence Okwuchi

Oyo Governor vows to work for Yoruba unity and integration

Mercy Chukwudiebere
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The Oyo State Governor, Seyi Makinde, has  expressed his readiness to work for the unity and integration of the Yoruba people across the globe.

The Governor stated this while receiving a delegation of traditional rulers from Benin Republic led by the Alaafin of Oyo, Oba (King) Lamidi Olayiwola Adeyemi III, at the Executive Council Chambers of the Governor’s Office, Secretariat, Agodi, Ibadan on Monday.

He maintained that the Yoruba race must remain united if they hope to achieve the much-desired growth in Yorubaland, noting that ”he is ready to work for the enrichment of the culture and economic expansion of the ethnic group.”

Governor Makinde noted that there could not have been a better time for the Yorubas across borders to collaborate and form a stronger bond of brotherhood through sharing of coordinated intelligence, even across national boundaries, as the rate of insecurity in the country means that there should be intelligence sharing among neighbouring countries, to assist in addressing the security challenges currently militating against the country.

The Governor equally appreciated the effort of the Alaafin of Oyo for being in the vanguard of fostering cordiality and unity of purpose among the Yorubas, stressing that ”the Alaafin’s fatherly role has become admirable to all and sundry.”

He said; “Baba (Father) knows our history and he has never misinformed us. Whoever wants to hear the truth about the history of Yoruba, Nigeria, and some significant events that have happened in the world, needs only to visit the Alaafin of Oyo’s palace. So, we that are Oduduwa descendants, Yoruba, irrespective of where we belong to, need to ensure that we enrich our culture, even across the divides.”

Governor Makinde assured them that his administration would enhance the economic activities in the State by exploring the opportunities that abound in places like the Okerete Market in Saki, which is supposed to be a border market that would serve almost everyone along the West African corridors.

“I was at the Republic of Benin at the earlier stage of our administration. As a matter of fact, on the agric policies of Oyo State, I visited Songhai Farm to try to know how integration could exist between us, because, for us, it is desirable socially, economically and culturally to come together,” the Governor said.

The Alaafin of Oyo equally emphasised that the traditional institution would not relent in its role of assisting the government to guarantee security of lives and properties within their domains.

In his remark, Emeritus Professor Anthony Ijaola recounted the historical antecedent of brotherhood among Yorubas from other countries, explaining that the harmony should continually be sustained.

The traditional rulers at the event included the Alaketu of Ketu Kingdom, Oba Adejumo Adesina and the Onimeko of Imekoland, Oba Benjamin Olanite Ilufemiloye.

Also in attendance were Olori Egbeyemi Adedunloye Akanni; Olori Olubukola Olanife; former Speaker of the Oyo State House of Assembly, Senator Mosurat Sunmonu; Deputy Chief of Staff, Hon. Abdulmojeed Mogbonjubola; Chairman, Oyo State Advisory Council, Senator Ayoola Agboola.

Others were the Commissioner for Information, Culture and Tourism, Dr Wasiu Olatunbosun; Special Adviser to the Governor on Strategy and Political Matters, Babatunde Oduyoye and the Special Adviser on Tourism, Hakeem Ademola Ige, among others.

 

 

Mercy Chukwudiebere

 

Equities Market starts week on bullish note

Nnenna Okoronkwo
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Equities trading on the Nigerian stock exchange started on a positive note on Monday as market indices recorded marginal gains to close at 1.73%.

The market capitalisation gained 1.73% or N31 billion to close at N18.211 trillion as against N17.901 trillion last Friday.

Similarly,the all share index appreciated by 1.73% or 592.7 basis points to close at 34,843.44 basis points ,higher than Friday’s 34,250.74 points.

Monday’s trading saw a total of 208.09 million shares worth N3.70 billion traded in 4,154 deals.

The market sentiment was also positive as it recorded 22 gainers relative to 12 losers at end of the day’s trading.

Dangote  Cement led the gainers list with a gain of N5.00 to close at N188.00k ,followed by Guiness with a gain of 65k to close at ,N16.65k and Wampco with a gain of 45k to close at N21.00k.

On the flip side,International Brewery lost 71k to close at N6.47k,then UBN lost 30k to close at N5.15k and Cutix lost 18k to close at N1.72k.

Zenith bank was the toast of investors for the day with the highest volume of trade as it traded 36.63 million shares valued at N875.68 million followed by Guaranty bank with 17.365 million shares worth N572.73.

Suzan O

Kankara Kidnapping: President Buhari receives assurance from Katsina state governor

Nnenna Okoronkwo
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President Muhammadu Buhari on Monday in Daura, Katsina State received more briefing on children kidnapped from Government Science Secondary School, Kankara, with an assurance from the Katsina state governor, Aminu Bello Masari of steady progress to bring them out unharmed.

“We are making progress and the outlook is positive,’’ the Governor told newsmen after an hour meeting with the President.

The Governor, who was accompanied by the Deputy Governor of the state, Manir Yakubu said the kidnappers had made contact and discussions were on pertaining to safety and the return of the children to their homes.

Governor Masari also noted that security agencies had located the position of the children.

He said the President was fully committed to the rescue of the school children, adding that it was only appropriate to visit the President and give him more details of rescue efforts that were ongoing.

Suzan O

Nigerian Medical Association welcomes Pfizer vaccine trial In Nigeria

Nnenna Okoronkwo
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The National Executive Council of the Nigerian Medical Association (NMA) says it welcomes the use of the Pfizer vaccine on Nigerians.

The President of the Nigerian Medical Association (NMA) Prof. Innocent Ujah, stated this at a press briefing on the outcomes of association’s National Executive Council Meeting, in Abuja.

He said that the vaccine was a welcome development.

“We welcome the Pfizer research finding. It is very important that the vaccine trial came out with the result of 94.5%  efficacy and safe for use. However, for it to be used in Nigeria, it must undergo another further clinical trial because our biology is different, our environment is different, our genetics are different.

“Therefore it must necessarily be subjected to another clinical trial on Nigerians so that we can appropriately document its efficacy and safety on Nigerians. It doesn’t matter if it is 100% efficacious in the US or in Europe.

But we must of necessity have to use it on Nigerians. So that we can document its efficacy and safety on Nigerians,“Prof Ujah said.

The President also urged Nigerians to continue to maintain COVID-19 protocols to avoid an escalation of the cases. He said that part of the COVID funds should be allocated to research.

“I believe that the National Orientation Agency should do more to educate and inform the public about compliance, using the various languages even town criers. Because it is not everybody that understands the English we speak,” NMA president said.

He noted that commencement of the second wave of the COVID-19 pandemic amidst the flagrant disregard for the non-pharmaceutical prevention protocols and waning efforts at containment of the scourge; while further noting the current concerns for vaccine access internationally whereas such serious conversations have yet to be intensified in Nigeria.

The NMA also bemoans the incessant spate of emigration of highly trained Nigerian Doctors and other health care professionals to greener pastures (brain drain) at a time when their services are critically needed in Nigeria; observing further that efforts at engaging these nationals have not yielded expected results.

“It Is deeply worrisome that some Nigerians in privileged positions still embark on foreign medical treatments for conditions that could be easily managed in the country thereby reducing the opportunities for revamping the nation’s health sector and improving service delivery through their patronage of local health facilities,” He noted.

The President also said that the National Executive Council meeting which held in Awka, Anambra State between 8th and 12th December 2020, is deeply worried over the worsening state of insecurity manifested by insurgency, armed banditry, kidnapping and other forms of armed attacks in the country while regretting that medical and health workers who enjoy protection in other climes have increasingly become targets in Nigeria.

The meeting also made the following resolutions;

  • Serious efforts to prioritize health including supplementary appropriation/ budgetary provision should be initiated by the government at all levels and the private sector coalitions to ensure the procurement and availability of consumables for effective response in the containment of COVID-19, especially with the upsurge of the infection. We also wish to advise the government to procure the vaccines that have been reported to be effective for a further research study on Nigerians to confirm their efficacy and safety for the Nigerian populace.
  • A passionate appeal to all Nigerians to take the COVID-19 prevention advisories very seriously in order to interrupt the transmission reduce ill-health and deaths from the dreaded disease. The strict adherence to the NCDC Protocol of use of face mask, regular handwashing and use of sanitizers and social as well as Physical distancing is very strongly advocated. Non-essential travels should not be embarked upon especially during this yuletide season and beyond.
  • More deliberate and strategic efforts must be made by governments to ensure the return home of the Nigerian doctors and other health professionals in diaspora to contribute their quota to the improvement of health care delivery services as well as national growth and development.
  • Privileged Nigerians should demonstrate open confidence in the nation’s health care delivery system as well as patronising the services, as we call for the establishment of the National Health Bank in order to fast-track the infrastructure, procurement of the state-of-the- equipment which helps to provide world-class health care for Nigerians in order to reverse Medical tourism.
  • Ratification of the report of the CTC; recognition and admittance of the newly elected State Officers’ Committee led by Dr J.O.T Onyia and warned that such show of shame exhibited during the botched elections should never be repeated in the future. In the same, the disciplinary Committee of the Association will commence work to hear all cases referred to it. Anyone one found guilty in the August 2020 election crisis will be punished in accordance with the provision of our Constitution.
  • Diligently prosecute the appeal case which NMA and co-respondents instituted and directs that the payment of the Building Levy remains a requisite for the renewal of the 2021 annual practising licence.
  • Educate and mobilize extensively all members and other stakeholders to support and actualize the amendment of the MDPACT.
  • Call upon His Excellency President Mohammadu Buhari, GCFR, political leaders, strategic stakeholders in the nation’s financial sector and the entire citizens to prevail upon the Central Bank of Nigeria to soften and modify the conditionalities for accessing the Health Intervention Loan especially given the current state of the nation’s health sector as exposed by the COVID-19 pandemic.
  • Adoption of the MWAN’s “Male Involvement in Maternal and Child Health” (MIMCH) advocacy document and strategizing for its implementation nation-wide.
  • Continue to strategically engage appropriate quarters in order to achieve the implementation of the extension of the retirement age of medical and dental practitioners in Nigeria to 65 years; special pension benefits as contained in Circular I of 1991; restoration of the Medical Salary System Scale (MSSS); Implementation of the CONMESS for Medically qualified Lecturers and its universal applicability for doctors in the employment of States and Local Government Councils.
  • Call on the Federal Government to commence negotiations with NMA on the 2019 Collective Bargaining Agreements (CBA).
  • Intensify the call on the Federal Government and its security agencies to assess and evaluate the current strategies on the security situation and commit to more effective reforms in order to secure Nigerians wherever they are in the country

The theme of the meeting was “Medical Doctors, Politics and Leadership in the Society” and the Subtheme, “Managing Mental Health in a COVID-19 Depressed Economy. ’’

Suzan O

COVID-19: PTF calls for reactivation of Task team in Abuja

Nnenna Okoronkwo
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The Presidential Task Force on Covid-19 (PTF) has urged the FCT Minister, Malam Muhammad Bello to reactivate Covid-19 Protocols Enforcement Task Team to stop COVID-19 violation in the territory.

Dr Sani Aliyu, the National Coordinator of PTF gave the advice during an Emergency FCT Covid-19 Stakeholders Review Meeting held on Monday in Abuja.

The meeting was necessitated by the increasing number of confirmed cases of covid-19 in the territory. Aliyu also emphasised the need for aggressive enforcement of covid-19 guidelines that would come with clear penalties.

He insisted that mass gathering should be restricted to not more than 50 persons outdoors and there must be wearing of facemasks. He noted that PTF only recommended that restaurants should be allowed to operates outdoors, however, lamented that all restaurants have opened indoors.

“This has to be enforced, they can provide takeaways otherwise they should close for the Christmas period because it is an area that attracts people for the mass gathering.

“Our aim is to stop the super spider event over the next six weeks.

“My recommendation is that all the sites that are currently serving as attractive points for a mass gathering should be close for the next six weeks to takeout the Christmas rise in case.

“There should be an inspection team going round Abuja to monitor and ensure compliance. 

“Any business premises or markets found accepting people without wearing of facemasks and allow people to mix anyhow those premises should be close.

“The same applies to shopping centres, the same applies to motor parks and other commercial premises,” Aliyu said.

Earlier, the FCT Minister, Malam Muhammad Bello noted that the objective of the meeting was to review the Covid-19 saga, particularly in the light of the second wave of covid-19 which heat the FCT two weeks ago.

Bello, who decried non-adherence to all Covid-19 precautionary measures and protocols in the FCT, assured that there would be massive enforcement.

“Because that is the only way we can ensure that lives are saved and protected. We all have to appreciate that Covid-19 is here, it has come back with vengeance.

“It is killing people and that reality is something that we all leaders both religious, traditional and government officials have to go back to our various communities and send this message.

“We know that there is fatigue everybody is tired of covid-19 but the reality is that it is here.

“We all need to have our internal motivation and strength to be able to really take a very good leap to make sure that we jointly fight the second wave of the covid-19 pandemic,” Bello said.

On his part, Senator Philip Aduda representing FCT commended the FCT Minister for conveying the stakeholders meeting for them to know that the second wave of covid-19 was serious.

The lawmaker urged FCT residents to adhere strictly to all Covid-19 precautionary guidelines such as wearing of facemasks, observing physical distancing and regular washing of hands.

“There must be reorientation and we must talk to the people for them to know that the second wave of the covid-19 pandemic is serious.

“People should go back to their facemasks and go back to what happened in March this year so that this Christmas we can enjoy it, be happy and celebrate with our loved ones.” 

Suzan O

Kano IPMAN directs members To Sell Petrol At N162

Nnenna Okoronkwo
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The Independent Petroleum Marketers Association of Nigeria (IPMAN) Kano State branch has directed its members to sell fuel at N162. 44 per litre starting today, December 14, 2020, as directed by the Federal government.

Recall that the Federal Government had reduced the price of the commodity from N168 to N162. 44 per litre following the public outcry.

The IPMAN chairman in Kano, Bashir Dan-Malam gave the directive while briefing newsmen in Kano on Monday.

He said the directive followed the reduction of the price of the commodity to marketers by NNPC from N153.17 to N148.17 per litre with effect from today (Monday, December 14, 2020).

He said since the Federal Government had reduced N5, the marketers have no option than to also reduce the price of the commodity at their filling stations to members of the public.

“I am therefore directing our members in Kano zone to commence the sales of the commodity at N162.44 per litre from today in compliance with the government’s directive.

“I want to also assure the public that we are committed to transporting the product to all states under Kano including Katsina, Bauchi, Yobe and Jigawa especially during the yuletide period to prevent scarcity,” he said.

He, however, commended the Federal Government for listening to the public complaint and outcry over the recent increase in the price of the product.

According to him, IPMAN would continue to support the Federal Government to ensure uninterrupted fuel supply across the nooks and crannies of the country.

The IPMAN chairman commended the Management of Nigerian National Petroleum Corporation (NNPC) under the leadership of Mele Kyari for his commitment to ensuring accountability and transparency in the oil and gas sector.

Suzan O

VP Osinbajo warns regulatory agencies against stifling business growth

Nnenna Okoronkwo
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Nigeria’s Vice President, Prof. Yemi Osinbajo has cautioned regulatory agencies against putting impediments on businesses in the country, urging them to review their methods of regulating micro, small and medium enterprises (MSMEs).

Osinbajo stated this on Monday in Abuja at the Inauguration of the Convention Centre of the Abuja Chamber of Commerce and Industry (ACCI).

Insisting that the work of regulatory agencies should be focused more on facilitating the growth of businesses, he said: “We need to take a second look at how we regulate small businesses.”

According to him, the three trends that, at least, would determine Nigeria’s economic development are government policy, private sector investment and micro, small and medium enterprises, MSMEs.

Osinbajo said: “With respect to government policy; of course, you are aware that the government position is that we must continue on an incremental basis to prescribe for ourselves and to provide for ourselves a properly enabling business environment in every respect, which is why we have PEBEC (Presidential Enabling Business Environment Council), which focuses on trying to improve the business environment. 

“But I think that one of the drawbacks that we have had in improving the business environment is really with respect to how we regulate small businesses.” 

Citing the Federal Capital Territory as an example, the vice president pointed out that numerous problems small businesses encounter, which hinder their growth.

“But Abuja is just one example of how generally speaking all over the country we need to take a second look at how we regulate small businesses,” he stated.

Prof. Osinbajo said that part of government policy towards incentivizing the growth of the private sector and making them contribute to economic growth is through reducing corporate taxes.

“As part of government policy, we have already more or less removed most of the major taxes. 

“So, for corporation taxes, if your turnover is under N25 million, is zero; and we have reduced it incrementally all the way up. 

“So, with respect to corporation taxes, at least, we know that we are doing quite well.  And same if you look at the proposed finance bill there are several incentives for small businesses. 

“But I think as they say the devil is in the details, we have to find ways.  And I think this is where the private sector must work very actively with us in ensuring that we are self-regulators and policemen and women of the regulations.

“I think the time has come for us to have the chamber of commerce paying very active attention to all that is going on in the MSMEs especially with respect to regulation.”

Way forward

The vice president said it has become necessary to check government officials whose activities stymie business growth.

 “We must call out government officials who are making it difficult for people to do business.  This is important because if you recall, the president himself said that there is no way the private sector can thrive if government officials see themselves as roadblocks; see themselves as hindrances as opposed to facilitators. 

“Every government regulator must be a facilitator of business.  That is the way forward.  We cannot afford a situation where government regulators see themselves as policemen only.  They must be facilitators of business.” 

He encouraged the ACCI to play a greater role in the PEBEC, saying that it was necessary to create a model in Nigeria’s capital that would be extended to other states in the country.

In his remarks, Minister of Industry, Trade and Investment, Niyi Adebayo, assured the ACCI of government’s support in its effort to grow businesses in Nigeria.

Earlier, the President of the ACCI, Adetokunbo Kayode, commended government’s support for MSMEs in Nigeria.

While appealing to the vice president to use his position as Chairman of the National Economic Council, NEC to give a fillip to small businesses, Kayode called on Nigerian governors to endeavour to attend the meetings of the council regularly as crucial matters bordering on the economy always come out from there.

He said that the ACCI Convention Centre would promote business, trade and economy of Nigeria and create opportunities for the youth.

Kayode expressed hope that it would not take Nigeria long before it exits the current recession.

Suzan O

Lawmakers advocate more funding for information agencies

Nnenna Okoronkwo
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The Nigerian House of Representatives’ Committee on Information and Culture has re-emphasized the need for more funding to information dissemination agencies for their critical role in nation-building, peace and unity.

The Chairman of the Committee, Mr Segun Odebunmi made the remarks during the Committee’s oversight visit to headquarters of Voice Of Nigeria (VON) and News Agency of Nigeria (NAN) in Abuja.

Odebunmi who expressed concern over the poor funding of the information sector said proper funding would make those agencies contribute greatly to the country’s fight against insurgency and criminality.

The Director-General Voice of Nigeria, Mr Osita Okechukwu had earlier solicited for more funding to VON to enable them to discharge their mandate of projecting Nigeria’s view to the world effectively.

The DG also appealed for legislative measures that would reduce the proliferation of Radio and TV Broadcasting Stations among government’s agencies in the country.

He described giving rights for establishing many Radio and TV Stations by government’s agencies as waste, duplication of responsibilities and compromising national interest that could be detrimental to the Nigerian nation.

The oversight visit was to appraise the performance of the 2019 and 2020 Budgets as well as the utilization of fund released for both overhead and capital component of the budgets.

Suzan O

African universities launch jobs board

Hauwa Mustapha
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By, Temitope Mustapha, Abuja

As part of effort to improve recruitment process for higher Institutions across Africa, the Association of African Universities has partnered with Education Sub Saharan Africa, ESSA and the University of Warwick’s, Warwick Employment groups to launch the African Jobs Board.

The project aims to increase academic mobility within Africa and support the recruitment for African Higher Education Institutions.

The Secretary General of the AAU, Professor Etienne Ehile said the innovative solution to the Africa Tertiary Education recruitment process is in support of aspirants of governments and Higher Education Institutions to retain academic talents within Africa.

According to him, “the African Job Board is a reliable cost-efficient online platform that addresses recruitment challenges in the educational sector, such as high advertising costs, coupled with limited audience reach on institutional websites”

Professor Ehile, encouraged all members of the Association of Africa Universities, as well as other higher education institutions on the continent to get involved or subscribe to the Africa jobs board.

The Chief Executive Officer of ESSA, Lucy Heachy said the project partners have offered a wide range of exciting offers to Higher Education Institutions that will enroll on the platform, including discounts on multiple jobs posted and the opportunity to promote their institutions.

The African Jobs Board is the largest talent platform for African higher education recruiters.

Hauwa Mustapha

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