Business
2014 Budget Designed To Encourage Manufacturing Sector – Jonathan
President Goodluck Jonathan has said that the 2014 budget and beyond was designed to encourage the manufacturing sector for employment generation.
Jonathan said this at the inauguration of the Board of the National Competitive Council of Nigeria (NCCN) recently.
The council, which is chaired by the Minister of Trade and Investment, Dr. Olusegun Aganga, is charged with the responsibility of, among other things, proposing policies and recommendations that will enhance Nigeria’s global competitiveness ranking and revitalise the Nigerian economy.
The 18-member board is also expected to generate policies and programmes that will attract domestic and foreign investment particularly in the manufacturing sector, create sales for local businesses and more markets for products made in Nigeria.
Jonathan said Government will continue to support private initiatives and encourage private bodies to key into our transformation agenda. We have to commend the private sector for their commitment in setting up this body that will help government and the private sector.
He further stated that “I wish the pioneer NNCC board every success in this assignment and I have every confidence that you will not let our nation down. We believe that without encouraging the private sector, especially the manufacturing sector, we cannot get out of the current economic position no matter how we struggle to produce primary produce, they will not create enough jobs for this country.
He said “that is why for the next two years and may be beyond 2015, Nigerian budget will be geared towards encouraging manufacturing sector in this country.”
The president tasked the board to bench mark, monitor and evaluate Nigeria’s competitiveness ranking and make viable recommendation that would achieve consensus on policy measures.
He also tasked them to create and release the report on Nigeria’s competitiveness to guide Nigeria’s development and policy frame work.
He said the board should coordinate local efforts to stimulate competitiveness by communicating and cooperating with stakeholders through hosting of events, seminars and local level conference.
“Let me emphasise that the federal government accords great importance to this assignment and will therefore support you to achieve this vital task of improving our country’s business environment.”
The president said members of the council were selected to serve on the board on account of their proven integrity, unwavering patriotism and uncommon sense of duty.
Responding on behalf of other members, Aganga thanked the President for his foresight and determination to create conducive environment for business to thrive in Nigeria.
He listed the gains of the council to include; increase in productivity, expansion of markets for local products, job and wealth creation.
The mnister assured that the board would deliver on its mandate.
Members of the board include the President, Manufacturers Association of Nigeria, Chief Kola Jamodu; President, Dangote Group, Alhaji Aliko Dangote; and the Director-General, Nigeria Economic Summit Group, Mr. Frank Nweke (jnr).
Also on the board are Mr Tony Elumelu and Ms. Funke Adekoya (SAN); Prof. Esogbue Augustine; Ms. Ike Yvonne, Publisher, Business Day; and Mr. Frank Aigbigun, among others.
Meanwhile, the Minister of Trade and Investment, Mr Olusegun Aganga, says the newly inaugurated board of National Competitiveness Council of Nigeria (NCCN) has an onerous task to increase Foreign Direct Investment (FDI) inflows into the country.
Aganga said this in Abuja while briefing journalists on the mandate of the council, which was inaugurated by President Goodluck Jonathan.
He said the inauguration of the council was a demonstration of government’s determination to improve the country’s global competitiveness ranking and revitalise its economy.
The Minister said the inauguration of the 18-member board was geared toward increasing productivity and sales for local businesses, adding that it would lead to the creation of more markets for Made-in-Nigeria products.
He said “the objective is to enhance Nigeria’s competitiveness by policies that will create an economy that attracts domestic and foreign investment without focusing on any specific interest group or sector.
“The council shall be the focal body responsible for creating awareness on national competitiveness in the country as well as coordinate the efforts of both the public and private sectors to improve Nigeria’s Competitiveness,’’ he said.
The council, according to him, shall recommend relevant policies, proactively monitor and evaluate the progress being made at national and sub-national levels as well as liaise with councils of other countries on global competitiveness issues.
Aganga, said “this will go a long way in developing National Public Policy initiatives to address short, medium and long-term Competitiveness issues confronting the country.”
The Nigerian Communications Satellite Limited (NIGCOMSAT), the country’s satellite operator, has called for immediate promolgation of policy action that will enable the country to harness the potentials of Artificial Intelligence (AI).
NIGCOMSAT, also warned that Nigeria risks missing out on Africa’s projected $1.2trillion share of the global AI economy by 2030.
Managing Director of NIGCOMSAT, Nkechi Egerton-Idehen, disclosed this in a statement issued at the weekend following her participation in the Meeting of the National Council for Communications, Innovation, and Digital Economy.
“Artificial intelligence is reshaping industries, economies, and societies worldwide, with projections that it will contribute up to $15.7trillion to the global economy by 2030. Africa stands to gain $1.2trillion of this if the right policies and innovations are in place”, Idehen said, citing a PricewaterhouseCoopers report.
The NIGCOMSAT MD underscored the transformative potential of AI in agriculture, highlighting its applicability in Benue State, widely regarded as Nigeria’s “food basket.”
According to her, machine learning tools could revolutionize agricultural practices by improving pest detection and optimizing planting schedules using satellite imagery.
“AI offers us the chance to not only flourish economically but also to achieve food security. However, we must ask ourselves if we are prepared to manage this technology responsibly”, she added.
Idehen also noted that internet access remains a significant barrier to AI adoption in Nigeria.
“For AI tools to be effective, basic digital infrastructure is essential. Addressing this gap must be a priority.
“AI is happening. We have the opportunity to manage this technology revolution responsibly, both in Africa and globally, through innovation and governance”, she said.
In August 2024, the Federal Ministry of Communications, Innovation, and Digital Economy released a draft National Artificial Intelligence Strategy, aiming to position Nigeria as a global leader in AI.
Corlins Walter
The Chairman of Emohua Local Government Council, Chief David Omereji, has said the council has so far spent over N1 billion for the electrification of communities in the area.
Omereji said this while addressing staff of the council at the council headquarters recently.
He said the move was part of his administration’s resolve to ensure peace and development of the LGA.
According to him, the Council spent about N29 million on monthly basis for the maintenance of the Emohua Local Vigilante group known as OSPAC, with each member being paid a stipend of N100, 000 monthly.
He diaclosed that 11 out of the 14 wards are currently enjoying electricity, while efforts are on to light-up the remaining ones.
“I also want to use this opportunity to inform the political class for purposes of records and for the understanding of the people that the Council under my watch have done more than enough”, he said .
The Emolga boss explained that all that have been achieved were through the personal effort of the Council, without support from anybody as rumoured in some quarters.
Omereji further reaveled that a number of other projects, including roads, fencing of schools, hospitals, courts premises, and reconstruction of some abandoned buildings at the Council Headquarters are being undertaken by his administration.
He enjoined the people of the area to support his administration’s drive to bring purposeful development to the LGA.
The Emohua Council boss, who reiterated his hatred for noise making, stated that his works would speak for him, and solicited the support of staff of the council and the entire people of the area.
He noted the fact that some people may not be happy with his achievements, saying that he would remain focused, while advising critics of his government to do so constructively with facts and figures.
King Onunwor
The Movement for the Survival of the Ogoni People (MOSOP) has raised some ethical questions over a Financial and Technical Services Agreement (FTSA) between Sahara Energy and West African Gas Limited (WAGL), an affiliate of the Nigerian National Petroleum Company (NNPC).
MOSOP said the agreement was not done in good faith, not in the interest of the Nigerian people, and did not follow due process.
Foremost Ogoni born activist and MOSOP leader, Fegalo Nsuke, who made this known in Abuja, weekend, described the Sahara-WAGL deal as fraudulent, deceptive and an insult on the intelligence and integrity of the Nigerian nation.
Nsuke called on President Bola Ahmed Tinubu to cancel that FTSA between Sahara Energy and WAGL, noting that the agreement is fraught with irregularities and deceptive.
“What Sahara and the NNPC did in the FTSA between Sahara and WAGL is shameful and depicts high level corruption in public service of our country.
“WAGL is an affiliate of Sahara and the NNPC. How then can Sahara go into an agreement with its own affiliate? It’s as good as going into an agreement with itself. This is deceptive and fraudulent”, Nsuke said.
He continued that “Sahara Energy is certainly not a company the Ogoni people want on their soil and we are calling on Mr. President, Bola Ahmed Tinubu, to terminate any deal between the NNPC and Sahara Energy over OML 11, and to allow for an inclusive arrangement that considers a fair treatment of the Ogoni people in the distribution of revenues from natural resource extraction on Ogoni soil.
“The last Ogoni Congress has been unequivocal on the Ogoni demand for justice and has given a clear path to resolve the three decade old conflict between all critical parties.
“It will be good to explore this path to peace and development for Ogoni and for our country”.
Nsuke accused Sahara Energy and the NNPC of frustrating the progress made by MOSOP to achieve a permanent solution to the Ogoni problem.
He urged a presidential intervention with deep consideration for a fair treatment of the Ogoni people in order to permanently address the problem.
He noted that Sahara Energy should give up on the Ogoni area to allow for an engagement in the interest of the country and the people.
Recall that MOSOP and Sagara Energy have recently been engaged in a row in what MOSOP describes as an unholy relationship between Sahara Energy and the NNPC over OML 11.
MOSOP expressly rejected Sahara Energy and called for a fair treatment of the Ogoni people in natural resource extraction in Ogoni.
It noted that Ogoni people, led by MOSOP, paid the sacrifice to take the oil from Shell, hence “the position of MOSOP must be taken into consideration in decisions relating to resumption of oil production in Ogoni”.
