Trade
Kaduna: Bandits kill 323, kidnap 949 in three months
No fewer than 323 persons were killed and 949 kidnapped by bandits in the last three months across Kaduna State. This was even as the military troops neutralised 64 bandits and arrested several gunrunners during the period under review. This was disclosed on Friday by the State Commissioner for Internal Security and Home Affairs, Samuel Aruwan, while giving security situation in the State for the first quarter of 2021. According to Aruwan, “The report covers banditry, kidnapping, cattle-rustling, attacks, and reprisal attacks. “The report also includes the aerial missions conducted over identified bandit hideouts and locations across the State, during which multiple scores of bandits were engaged and neutralised, with their camps destroyed. “Deaths linked to banditry, violent attacks, comm...
Navy’s newest offshore survey vessel begins homeward voyage to Nigeria
The Nigerian Navy (NN), says its newest offshore survey vessel, NNS LANA, has began her homeward journey to the country. This is contained in a statement issued on Saturday in Abuja by the Director of Information, Naval Headquarters, Commodore Suleman Dahun. He, however, said the ship will visit ports in Lisbon, Las Palmas, Banjul and Tema-Ghana, before heading to Nigeria on May 17. According to Dahun, the Chief of Naval Staff (CNS), Vice Adm. Awwal Gambo, had addressed the ship’s company. The CNS noted that the foremost desire of every littoral state is to have a fleet with the right mix of platforms to meet its operational objectives. Gambo acknowledged that the homebound voyage of NNS LANA was another milestone in the NN’s fleet recapitalisation efforts. He added that the induction of N...
Minister: Rail transportation awakening giant to help run government
Nairaland Mr Rotimi Amaechi, Minister of Transportation, on Tuesday described the rail mode of transportation as the awakening giant that would run government. He made the disclosure at the virtual National African Continental Free Trade Agreement (AfCFTA) Implementation Engagement Series for the Rail sub-sector of Transportation. Amaechi, who was represented by Mr Ibrahim Mohammed, a Deputy Director at the Federal Ministry of Transportation (FMOT), noted that the Federal Government had invested heavily on the rail sub-sector of transportation to help facilitate trade. “The rail sub-sector needs consistent opening for the country to further tap into the agreement that AfCFTA creates. “This is why government has embarked on many projects, developing the narrow gauges and establishing standa...
Djibouti president set to extend 22-year rule
Djibouti’s President Ismail Omar Guelleh is expected to extend his two-decade rule of the tiny Horn of Africa nation as the country heads to the polls Friday. Guelleh, 73, is facing political newcomer Zakaria Ismail Farah, his only rival after traditional opposition parties decided to boycott the election. A businessman specialised in the importation of cleaning products, Farah, 56, is seen by observers as unlikely to pose a significant challenge to the strongman who has been in power for 22 years. Djibouti is a largely desert country strategically situated on one of the world’s busiest trade routes and at the crossroads between Africa and the Arabian peninsula, a short distance from war-torn Yemen. Under Guelleh, the country has exploited this geographical advantage, investing heavily in ...
CSOs: Bandit attacks a risk to food security in Nigeria
Bandit attacks heighten risks for acute food crisis in Nigeria, stakeholders from the civil society and the media have said. This is even as they vowed to unite against terror rather than do anything that could promote it. “In addition to displacement, insecurity has hampered agricultural activities and heightened the risk of acute food uncertainty in the country”, they said in a communique issued on Thursday after a meeting of civil society groups and media in the nation’s capital. But they insisted that the adoption of new approaches by the government will address the specific political, economic, and social challenges that encourage banditry and terrorism in the country. The communique co-signed by Gbenga Onayiga and Adamu Ladan, the Acting Chairman and the Executive Director of the Vis...
UN projects Nigeria’s GDP to expand by 1.5 percent
Nigeria’s gross domestic product (GDP) is projected to expand by 1.5 per cent this year, after a contraction of 3.5 per cent in 2020, a United Nations (UN) report said on Wednesday. In the latest World Economic Situation and Prospects report, the UN noted, that tighter foreign exchange (forex) liquidity, mounting inflationary pressures and subdued domestic demand clouded the medium-term outlook. Although last year, the global economy shrank by 4.3 per cent, this year’s projected recovery of 4.7 per cent will barely offset the losses of 2020, according to the report. The World Economic Situation and Prospects 2021 is a report produced by the UN Department of Economic and Social Affairs (DESA), in partnership with the UN Conference on Trade and Development (UNCTAD), and the five UN regional ...
Traffic in Suez Canal resumes after stranded ship refloated
Shipping traffic through Egypt’s Suez Canal resumed on Monday after a giant container ship which had been blocking the busy waterway for almost a week was refloated, the canal authority said. The 400-metre (430-yard) long Ever Given became jammed diagonally across a southern section of the canal in high winds early last Tuesday, halting traffic on the shortest shipping route between Europe and Asia. Live footage on a local television station showed the ship surrounded by tug boats moving slowly in the centre of the canal on Monday afternoon. The station, ExtraNews, said the ship was moving at a speed of 1.5 knots. “Admiral Osama Rabie, the Chairman of the Suez Canal Authority (SCA), announces the resumption of maritime traffic in the Suez Canal after the Authority successfully rescues and ...
Minister tasks NSDC boss on ensuring self-sufficiency in sugar production
Otunba Adeniyi Adebayo, Minister of Industry, Trade and Investment, has tasked the newly appointed Executive Secretary of the National sugar Development Council (NSDC), Zach Adedeji to work towards the realisation of the Federal Government’s goal in ensuring self-sufficiency in sugar production. Speaking at the inauguration of Adedeji as the Chief Executive Officer of the NSDC at the weekend in Abuja, Adebayo said the Federal Government relied on him to work assiduously towards the realisation of the country’s self sufficiency in the sugar production. He noted that the appointment of Adedeji was based on his performance in his former positions, adding that the nation expected him to leave landmark achievements by the time he would be leaving office. “You are therefore expected to discharge...
Abia governor promises delivery of more road projects
Gov. Okezie Ikpeazu of Abia on Tuesday expressed the readiness of his administration to facilitate the delivery of more road projects in Aba and the state. Ikpeazu said this while inspecting the ongoing reconstruction of Port Harcourt Road, as part of the resumption of a statewide-project-inspection programme, tagged “Kinetic Abia Project Tour” in Aba. He said that the government would deliver high quality roads as part of its efforts to rebuild Aba and improve the wellbeing of its residents. He appealed to the residents to support the government to achieve its goal of transforming Aba by assisting the contractors handling the projects and protecting the infrastructure. The governor said that he would remain irrevocably committed to changing the narratives of Aba in the area of infrastruct...
Lagos governor: We are ready to domesticate AfCFTA agreement
Lagos State Governor, Mr Babajide Sanwo-Olu, says the state is ready to domesticate the African Continental Free Trade Area (AfCFTA) agreement. Sanwo-Olu said this on Tuesday when he received the Minister for Industry, Trade and Investment, Mr Niyi Adebayo, on a courtesy visit at the Lagos House, Ikeja. The minister led members of the National Action Committee on nationwide sensitisation on African Continental Free Trade Area (AfCFTA), which the nation entered into to deepen economic integration among African countries. He said that Lagos had observed the processes leading to the adoption of the continental trade agreement and positioned itself for market expansion across areas of collaboration. The governor said the state was ready to take advantage of the AfCFTA for growth, as a local ac...
WTO chief: ‘Safe Schools Initiative’ to stop abduction of students
The Director-General of the World Trade Organization (WTO), Dr Ngozi Okonjo-Iweala, on Wednesday expressed hope that the ‘Safe Schools Initiative’ will help stop the incessant abduction of students across Nigeria. Nigerian women on Wednesday came out en masse to welcome Okonjo-Iweala in her first homecoming since she became the director-general of WTO, during a visit to the Ministry of Women Affairs in Abuja. Addressing the crowd which included Senators and members of the National Assembly, former Ministers, wives of former governors, women in the Armed Forces, women societies, female political aspirants, Civil Society Organisations, as well as students, Okonjo-Iweala expressed deep concern about the incessant abduction of girls and boys in schools. The WTO boss who noted that it is shamef...
Nigeria’s Trade Policy & Restrictive Trade
17th March 2021 Mr Godwin Emefiele Governor of the Central Bank of Nigeria Plot 33, Abubakar Tafawa Balewa Way Central Business District, Cadastral Zone Abuja. Dear Mr Emefiele, RE: NIGERIA’S TRADE POLICY AND RESTRICTIVE TRADE While congratulating our Dr Ngozi Okonjo-Iweala on her recent appointment as 7th Director-General of the World Trade Organization (WTO), we very much welcome your fair trade comments for a strong policy to protect our local industries against unfavourable trade practices and to create jobs for Nigerians. In the discussions with Dr Okonjo-Iweala, you referred to trade protection remedies to support local industry. This is brilliant! We also note that the CBN 5-year policy plan also supports growing our local industry by discouraging dumping and smuggling of foreign go...
