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Economy

AFCFTA: MAN urges stakeholders to address vital issues

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AFCFTA: MAN urges stakeholders to address vital issues

…As Nanono says Nigeria to export rice in 2 years***

The Manufacturers Association of Nigeria (MAN) has called on stakeholders of the African Continental Free Trade Area (AFCFTA) to address vital issues during negotiations to ensure that the overall goal is achieved by the continent.

MAN President, Mr. Mansur Ahmed made the call on Thursday at the opening ceremony of a two-day African Continental Free Trade Area National Forum, in Lagos.

The event is themed, “Effective Implementation for Industrialization and Inclusive Economic Development in Nigeria.’

Ahmed said the key issues included technical and political challenges that must be resolved.

According to him, it is important that Nigeria benefits and ensures she meets the targeted seven per cent economic growth rate expected to take about 100 million people out of poverty.

“President Buhari is committed to lifting 100 million people out of poverty in the next 10 years; how can we ensure that the AFCFTA leads us towards that journey?”

He said the critical dimensions that must be addressed during conversations concerning the AFCFTA should include policies and regulations, rules and conduct of the players.

“The way we merge the processes, the agreements,  regulations,  institutions and how these work together to ensure that the game is being played in accordance to the rules and expectations.

“The issues need to be defined in a way that we see the complexities; technical and political, to ensure clarity.

“All these must be formulated in a way that all stakeholders understand their roles and obligations and therefore play according to the rules,’’ the MAN president said.

Also read:  NACCIMA, other African stakeholders seek better information on AfCFTA

Ahmed said that all negotiators were not of the same capacity and inclination, which would require harmonization on a regional level to resolve issues such as market offer and collaboration.

He urged stakeholders to view the negotiations with a sense of collaboration and not allow any player deemed as too powerful to dominate.

“We must look at the interest of the group as a whole and the interest of the region, and what provides the best long term and sustainable interest of the region.

“There must be a strong commitment by our governments, various institutions and private sector groups to look beyond the norms and look at the goal for the region and continent,’’ he said.

The Minister of Agriculture and Rural Development, Sabo Nanono, says with the phenomenal increase in rice production and processing in the country, Nigeria will be exporting the commodity in the next two years.

The minister stated this on Thursday in Kura, Kano state during an assessment tour of the impact of the border drill on the entire rice production value chain.

Nanono, Minister of Information and Culture, Alhaji Lai Mohammed led stakeholders and a team of journalists on inspection of cluster of cottage rice mills in Kura.

The team also visited four integrated rice mills in the state which are Al-Hamsad Rice, Kura Brothers Rice Mill, Tiamin Rice Ltd and Umza Internatio nal Farms.

“The way and manner we are going in the production of rice, in the next two years, we will start exporting rice outside the country.

“For those that are worried about the partial close of our borders, we are not doing this to hurt the people but to protect the future of the country, provide jobs and food sufficiency.

“Government will continue to give support to rice farmers to achieve this goal,” he said.

The minister said that Kura is an agrarian settlement known for irrigation farming in rice, tomato, maize and others items, mostly consume in the Southern part of the country.

He said farmers in Kura had, however, concentrated on rice production following the border drill and the ban in rice importation.

Speaking in the same vein, Mohammed assured that the federal government would continue to support the stakeholder in the rice production value chain.

He however appealed to rice growers and millers not to see the loans given to them as their own “share of the national cake”.

“They must understand that when loans are not paid back, it will be difficult for them and others to get more loans,” he said.

Alhaji Ali Idris, Chairman Kura Rice Processing and Marketing Association called on the government to sustain the border closure, stressing that Nigeria has the capacity to feed itself and the neighbouring countries.

Idris, who spoke in Hausa language, said since the closure of the borders and the commitment of President Muhammadu Buhari to achieving self-sufficiency on food production, his people were fully back in business.

He disclosed that over 10,000 youths in Kura Local Government were gainfully employed in the rice production value chain and they produce about 5000 tonnes of rice every day.

He commended federal government for supporting them with modern machine and urged provision of polishers, de-stoners to further enhance their production.

Another miller, Adamu Habu called on government to sustain the border closure because of its impact on the economy.

He said more people were being employed in the rice production value chain and supporting the economy.

The President of Integrated Rice Millers Association in the state, Alhaji Mohammed Umza, said the border closure had impacted positively on rice industry nationwide and in particular, Kano state.

He said prior to the closure, the industry had been battling with foreign rice market forces which threatened its coexistence.

Umza said that the border closure had helped to transform rice value chain in Kano state and government should sustain it.

“Kano state, by virtue of its agrarian origin has provided a conducive atmosphere where rice milling activities thrives.

“The state has the largest concentration of integrated rice processing mills as well as clusters of cottage rice mills scattered across nearly all the local government in the state.

“Of the 35 registered integrated rice mills in Nigeria, about 12 are domicile in Kano and more are coming up, which makes Kano undoubtedly the capital of rice processing in Nigeria.

“An estimated 5000 metric tones of finished rice is turned out daily by the combined integrated mills and cottage mills in Kano.

“This is shared in the ratio of about 60 per cent from the cottage mills and 40 per cent from the integrated mills.

“Combined, the mills employ about 10,000 people either directly or indirectly,” he said.

Umza urged the federal government to sustain the good work of securing the borders and hence the economy.

He said, if the policy is sustained, the industry would continue to grow and provide food and employment to the rapidly growing and urban population.

 

 

Economy

May Day: We’ll Not Delay Action On New Minimum Wage – Makinde

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May Day: We’ll not delay action on new minimum wage – Makinde

…As FG approves salary increase for civil servants 

Gov. Seyi Makinde of Oyo State has assured workers that his administration will not delay in implementing the new minimum wage.

Makinde gave the assurance on Wednesday in his address at the 2024 May Day celebrations, held at Lekan Salami Sports Complex, Ibadan.

The governor, who was represented by his deputy, Mr Bayo Lawal, said notwithstanding the new minimum wage, his government will not fail in its promise of ensuring payment of salaries and pensions on or before the 25th of every month.

He said that his administration had been responsive to the welfare of workers, adding that it had also put people at the heart of its policies and programmes.

Acknowledging the importance of labour in the policies, programmes and projects aimed at ensuring the development of the state, Makinde commended the workers for ensuring an atmosphere devoid of incessant industrial actions.

He noted that the cooperation between his government and labour had contributed immensely to the existing development and peaceful atmosphere in the state.

He urged the workers to reciprocate his administration’s good gesture by being more dedicated and committed.

The governor also enjoined them to work ‘tirelessly and vigorously’ for their future.

 The Federal Government has approved 25 per cent and 35 per cent of salary increases for civil servants on the remaining six Consolidated Salary Structures.

The Head of Press, National Salaries, Incomes and Wages Commission (NSIWC), Mr Emmanuel Njoku, said this on Tuesday in Abuja.

“The Federal Government has approved an increase of between 25 per cent and 35 per cent in salary increase for Civil Servants on the remaining six Consolidated Salary Structures.

” They include Consolidated Public Service Salary Structure (CONPSS), Consolidated Research and Allied Institutions Salary Structure (CONRAISS) and Consolidated Police Salary Structure (CONPOSS).

“Others are Consolidated Para-military Salary Structure (CONPASS).
Consolidated Intelligence Community Salary Structure (CONICCS) and Consolidated Armed Forces Salary Structure (CONAFSS).

“The increases will take effect from January 1,” he said.

According to Njoku, the Federal Government has also approved increases in pension of between 20 per cent and 28 per cent for pensioners on the Defined Benefits Scheme.

He said this was in respect of the above-mentioned six consolidated salary structures and would also take effect from January 1.

He said the move was in line with the provisions of Section 173(3) of the 1999 Constitution of the Federal Republic of Nigeria (as amended).

The official recalled that those in the Tertiary Education and Health Sectors had already received their increases.

“This involves Consolidated University Academic Salary Structure (CONUASS) and Consolidated Tertiary Institutions Salary Structure (CONTISS) for universities.

“For Polytechnics and Colleges of Education, it involves the Consolidated Polytechnics and Colleges of Education Academic Staff Salary Structure (CONPCASS) and Consolidated Tertiary Educational Institutions Salary Structure (CONTEDISS).

” The Health Sector also benefitted through the Consolidated Medical Salary Structure (CONMESS) and Consolidated Health Sector Salary Structure (CONHESS),” Njoku said.

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Economy

Electricity: NLC, TUC Condemn Higher Tariff For Non-existent Electricity

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Electricity: NLC, TUC Condemn Higher Tariff For Non-existent Electricity

…Insist Estimated billing is an extortion and a daylight robbery against Nigerians

The  Nigerian Labour Congress (NLC) and the Trade Union Congress (TUC),  have appealed to the  Nigerian Electricity Regulatory Commission (NERC) and Power Sector operators,  to reverse the increase in electricity tariff within one week.

President of the unions, Mr Joe Ajaero and Mr Fetus Osifo made the call on Wednesday in a joint speech to mark the  2024 Workers’ Day in Abuja.

The duo expressed dissatisfaction over the epileptic power situation in the country which is affecting the economic growth of the country.

According to them, it’s imperative that any nation incapable of effectively and efficiently managing its energy resources faces certain ruin.

“One of the pivotal factors constraining our nation is our glaring incompetence in managing this sector for the collective welfare of our citizens.

“Power, regardless of its source, remains paramount in Kickstarting any economy, while oil and gas are indispensable for robust energy success in every country. “

They said it was absolutely critical for the government to collaborate with the people to establish frameworks that ensure energy works for all Nigerians.

According to the duo, the plight of the power sector remains unchanged over a decade after the privatisation of the sector.

“The reasons are glaringly evident. As long as those who sold the companies remain the buyers, Nigerians will continue to face formidable challenges in the power sector.

” It is unethical to force Nigerians to pay higher tariffs for non-existent electricity.

“Estimated billing is an extortion and a daylight robbery against Nigerians, ” the duo said.

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Economy

Naira Rebounds, Gains N28.15 Against Dollar Weakly Trading At N1,390.96 

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Naira Rebounds, Gains N28.15 Against Dollar Weakly Trading At N1,390.96 

The Naira on Tuesday closed the month of April on a good footing as it gained N28.15 at the official market, trading at N1,390.96 to the dollar.

Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed that the gain represented a 1.98 per cent appreciation for Naira.

The percentage increase is significant when compared to the previous trading date on Monday, April 29.

The local currency experienced about two weeks of steady fall by exchanging at N1,419 to a dollar.

The success story was replicated in the volume of currency traded, as the total daily turnover increased.

The daily turnover stood at 225.36 million dollars on Tuesday up from 147.83 million dollars recorded on Monday.

Meanwhile, at the Investor’s and Exporter’s (I&E) window, the Naira traded between N1,450 and N1,200 against the dollar. 

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