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Revenue from non-oil exports down by 58% to $4.3bn — CBN



  • Truck kills 10 passengers on Lagos- Ibadan Expressway

The Central Bank of Nigeria (CBN) has said that the revenue from non-oil exports fell sharply by 58 percent to $4.39 billion in 2015.

Meanwhile, Zenith Bank has expressed its readiness to enhance revenue from non oil exports by assisting its clients with financing support needed export.

CBN Governor, Mr. Godwin Emefiele disclosed this in Lagos yesterday while speaking at the Zenth Bank International Trade seminar.

While commending Zenith as the highest ranking bank in terms of facilitating non oil export trade, Emefiele called on stakeholders to evolve strategies to address the sharp fall in the nation’s non oil export revenue.

Domestic economy Represented by the Deputy Director, Trade and Exchange Department,    Mr. Dauda Gotring, said, “ It has been observed that while credit to the non oil sector has been declining and currently at 0.6 percent of total domestic loan to the private sector in the past five years, the credit to the domestic economy has been on the rise. “The low level of export loan has no doubt contributed to the decline in non oil revenue from $10.53 billion in 2014, $4.39 billion in 2015, which is a very significant drop.

“The impact of this on the country’s export potentials is quite significant and has become topic for stakeholders’ dialogue towards evolving responsive strategies that will expand resources for exports expanding programmes on a complimentary basis.”

Commending Zenith Bank for organising the seminar, he said the seminar will help in identifying the various issues hampering the non oil export    in the country.

He said, “It is my hope that the outcome    of this stakeholders deliberation will assist CBN to formulate policies geared towards enhancing growth of non-oil exports. “It is expected that resolutions    of this seminar will lead to increased receipt of foreign exchange from non oil exports and job creation among others”. In his opening address, Managing Director/Chief Executive, Zenith Bank Plc, Mr. Peter Amangbo, said that Zenith Bank has made it a top priority to enhance the ability of its clients to export.

He said, “The goal of this year’s Zenith Bank International Trade Seminar is to escalate the tone of the conversation around non oil exports. Apart from this interactive seminar series, as a bank, we have decided to make it a top priority to improve the conditions that directly affect the ability of our clients to export, such as monetary easing, by assisting with financing that is needed for exports, trade advocacy and export promotion effort, educating our clients about markets and the financing opportunities available.”

In the meantime, no fewer than 10 persons were crushed to death on the Lagos-Ibadan Expressway on Wednesday after an 18-seater Mazda bus collided with a truck opposite the Four Square camp, in the Ajebo area of Ogun State.

It was gathered that the accident, which occurred at about 2pm, immediately attracted a crowd of sympatisers, who rushed to the scene to assist security agents in taking the victims to nearest hospitals.

Eyewitnesses told our correspondents that those who died were initially taken to the roadside before they were taken away.

It was learnt that the commuter bus with number plate, APP 912 XH, was driving against the traffic (one way) and moving towards Lagos when it rammed into the truck, marked, GGE 338 XL, which was heading for Ibadan, Oyo State.

PUNCH Metro learnt that 10 of the passengers in the bus, including its driver, died on the spot while others sustained varying degrees of injuries.

It was learnt that the incident caused a gridlock on the road, but emergency agencies – the Nigeria Police, the Nigerian Army and the Federal Road Safety Corps – arrived at the scene and helped in getting the victims and the bus cleared off the road.

One of the eyewitnesses, Ayobami  Adedeji, posted pictures of the deceased, whose bodies were mangled in the accident, on his Facebook page, noting that no fewer than 10 persons died.

He said, “The scene of a fatal accident around the Four Square camp, Ajebo, Lagos Ibadan Expressway, Ogun State, was nauseating. The commuter bus collided  with the truck while driving against the traffic. No fewer than 10 persons died. Please, avoid that route, there is gridlock.”

Another witness, who identified himself as Raji, said the foodstuffs conveyed by the bus littered the road. He said the victims were traders, adding that he was frightened by the severed bodies of the dead.

“The scene was very gory. I counted nine bodies lying on the road. Some of them had their legs and hands cut off. The bus driver smashed his head against the steering and died. I learnt that they were traders travelling to Lagos. They are all males. It was terrible,” he said.

Raji blamed the accident on the impatience of the bus driver, saying he drove against the traffic.

“Apart from the 10 persons that died, several others were injured and the bus was badly damaged. An accident like this is avoidable if drivers will learn to comply with the traffic law. Why drive against the traffic? It is totally wrong,” he added.

The Head of Operations, FRSC, Ogun State Command, Deputy Corps Commander, Divis Ogiamiem, said the accident was caused by wrongful overtaking by the driver of the commercial bus at a section of the road where there was a traffic diversion.

He said, “The cause of the crash was wrongful overtaking and loss of control by the driver of the Mazda bus. He was travelling from Ibadan to Lagos; it was in that process that the driver rammed the bus into an oncoming Iveco truck, travelling to Ibadan.

“Ten people died, while others were injured. The accident occurred around 2.10pm today (Wednesday).”

Ogiamiem said the corpses of the victims had been deposited in the mortuary of the Olabisi Onabanjo University Teaching Hospital, Sagamu.

He also added that six injured passengers were  receiving treatment in the same hospital.

Vanguard with additional report from Punch


NIWA Condoles Actors Guild Of Nigeria, Victim’s Families Over Boat Mishap



NIWA Condoles Actors Guild Of Nigeria, Victim's Families Over Boat Mishap

…As Ali Nuhu says recent deaths in movie industry rob the nation of legendary filmmakers

 The National Inland Waterways Authority (NIWA), has conveyed its deepest regret over the unfortunate boat mishap which claimed four lives on Wednesday.

It could not yet be established whether or not, all the passengers wore lifejackets at the time of the incident.

A condolence message by Dakio Horsfall, the Acting General Manager (Marine) of the authority, on Thursday in Lokoja, said the management of the authority condoled with the Actors Guild of Nigeria and the victims’ families over the losses.

The mishap reportedly involved two boars on the River Niger en route to Asaba in Delta State at about 2:00 P.M. on Wednesday.

The accident, which involved an unregistered fibreglass boat with 12 persons on board and a privately owned wooden boat with a lone driver, left four persons dead, while seven others were rescued.

Horsfall said: “Preliminary reports indicated that the accident resulted from a frontal collision between the two boats due to overspeeding.

“Sadly, two people died at the scene of the accident, two more bodies were recovered 24 hours later off-site, while 7 persons were rescued.

“Consequently, the Authority commiserates with the families of the deceased persons and pray that the good Lord will repose the souls of the departed”.

He said that upon the receipt of the report of the accident through its community-based structure, the NIWA deployed its search and rescue team to the scene for immediate rescue activities.

NIWA Condoles Actors Guild Of Nigeria, Victim's Families Over Boat Mishap

According to him, the team and other stakeholders including the local divers, swung into action and have continued the search and rescue effort since Wednesday.

“As of the last count, one person is still unaccounted for.

“Also, the Marine Department of NIWA has activated its accident investigation mechanism to determine the cause(s) of the accident and make appropriate recommendations,” he said

The manager stressed the need for all users of the inland waterways to, mandatorily, adhere to all the established safety protocols, including the completion of passenger manifest at the loading and offloading points.

“The usage of life jackets on the waterways is mandatory, avoiding over speeding, and yielding to weather dictates, at all times,” he said.

Horsfall commended the Marine Police, local divers/ fishermen, Maritime Unions and other good-hearted Nigerians who rose to support the Authority in its rescue efforts.

“Nevertheless, NIWA hereby assures all Nigerians of its continuous efforts aimed at promoting safer inland waterways for the use of all”.

In another development, the Managing Director of the Nigerian Film Corporation (NFC), Mr Ali Nuhu has said that recent deaths in the movie industry have robbed the nation of legendary filmmakers.

This is contained in a statement signed by Brian Etuk,  the Director of Public Affairs of the NFC in Abuja.

Nuhu described the death of Saratu Gidado (aka Daso) and John Odonwodo,  known as Junior Pope, as heart-wrenching for colleagues and film industry stakeholders.

”Their deaths, which occurred within the week has left  Nigeria’s movie industry in a state of mourning.

”Stakeholders have been pained by the frequent recent losses robbing the country of legendary filmmakers,  who have impacted and contributed greatly to the growth of Nigeria’s film industry.

“Their footprints within the development of the Nigerian film industry will not be forgotten,” he said.

Speaking about the late Gidado, the NFC boss said she caught the fancy and interest of Nigerians, particularly as a lead character in several of Kannywood films,  such as ‘Linzami Da Wuta’ and ‘Gidauniya’.

”She was a Zuma Film Festival(ZUFF)  2023 Life Time Achievers Awardee but sadly succumbed to death in the early hours of Tuesday, April 9.

“Odonwodo’s role in showcasing the professional competencies and screen delivery by actors is remarkable,  as can be found in ‘Honey Money’, ‘Blood Affair’ and ‘Wrong Initiation’ movies in which the late actor acted.

 “While Mr Ibu delivered that evoked laughter and comic relief,  leaving behind a gap to be filled, the refined gentlemen shall be greatly missed,” he added.

Nuhu pledged that the NFC would continue to support the film industry policy initiatives that promoted friendly and safe working conditions,  including medical, health and life insurance schemes for stakeholders.

Nuhu also sympathised with the immediate families, friends and associates of the deceased, as well as the Actors Guild of Nigeria (AGN) and prayed that Almighty God grant them rest.

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5  Die In Lagos-Ibadan Expressway Accident



19 die, 26 injured in Kano auto crash — FRSC

Five persons were confirmed dead in an accident at NASFAT turning on the Lagos-Ibadan expressway on Wednesday.

Ten others sustained injuries in the accident.

Mrs Florence Okpe, the spokesperson for the Federal Road Safety Corps (FRSC) in Ogun, confirmed the incident to newsmen in Abeokuta.

Okpe noted that the incident occurred at 9:56a.m and it involved a Daf truck marked KUT 561 ZZ, a Toyota Hiace bus marked GGE 84 YF, and a Man diesel truck without a registration number.

She said that the likely cause of the accident was dangerous driving on the part of one of the trucks.

”A total of 15 persons were involved, which comprised 11 men and four women.

” Ten were injured (six men and four women) while five persons were killed from the multiple crash,” she said.

The FRSC spokesperson said that the injured victims were taken to Famobis Hospital, Mowe, while the deceased were deposited at Idera Hospital morgue, Sagamu.

The Sector Commander, Anthony Uga, cautioned motorists on speed and reckless driving, advising them to drive defensively for safety. 

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Customs Suspends Noble Intention To Sell Rice At Rock-bottom Price



Nigeria Customs Service’s noble intention to sell impounded rice to the masses at the rock-bottom price of N10,000 per half-bag has been suspended.

It would be recalled that the Nigeria Customs Service (NCS), on the directive of Mr. President, announced the commencement of a noble intervention aimed at alleviating the hardships faced by Nigerians and improving access to essential food items through direct disposal of seized edible goods condemned in competent courts of law and certified fit for consumption by relevant government agencies. 

Consequently, according to the Chief Superintendent of Customs and National Public Relations Officer, Abdullahi Maiwada, a pilot exercise was conducted on Friday, 23 February 2024, at NCS Old Zonal Headquarters, Yaba, Lagos state. 

Stated Maiwada: “The exercise was conducted following meticulous planning to address all potential risks that may emerge during the exercise. As part of our process and control measures, we had Nigeria Police and military personnel to ensure crowd control. We also fully equipped a medical team on the ground in anticipation of potential risks during an exercise of that magnitude. Their presence was part of our proactive approach to ensuring the safety and well-being of all participants.

“The disposal of the food items got off to a smooth start at about 0800hrs. We enjoyed the cooperation of the large crowd that obliged us, giving preferences to the elderly, people living with disabilities, pregnant women, and other vulnerable Nigerians who showed up for the exercise. This was the case up until about 1700hrs, as attested to by the over 5000 beneficiaries and members of the press. 


“However, unforeseen challenges arose when we ran out of stock and announced the continuation of the exercise the following day, leading to a regrettable outcome. The crowd became desperate and charged through our barricades in search of rice bags inside emptied containers. In the stampede that ensued, some fatalities and injuries were regrettably recorded”, the Service Spokesman stated, stressing that the Nigeria Customs Service extends its heartfelt condolences to the families of those who lost their lives during the unfortunate incident. Our thoughts and prayers are with the affected families during this challenging time, and we assure them of our unwavering support. 

“We are working with Hospital Authorities to establish contact and engage directly with the victims’ families on their next steps. Following this incident, an internal investigation was initiated to understand the circumstances surrounding this unfortunate event. 

“As a service deeply committed to the welfare and safety of Nigerians, we recognize the need for heightened sensitivity and preventive measures in all our operations. 

“Considering the recent unfortunate event, we regrettably announce the suspension of this exercise until we establish what transpired on Friday, 23 February 2024. 

“This should help us to properly articulate more robust and comprehensive action that will not defeat the noble intention. We appreciate the understanding and cooperation of all Nigerians as we work towards addressing the challenges facing our nation’s food security”, the Imgemaker said further. 

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