Business
RSG To Sponsor Multiple Taxation Bill
As part of efforts to restore investors confidence in the business environment of the state, the Rivers State Government has planned to sponsored a fiscal Responsibility Bill in the state House of Assembly, with a view to tackling the challenges posed by multiple taxation in the state.
The Rivers State Governor, Rt. Hon. Chibuike Amaechi made this known Friday at the opening ceremony of the 5th Port Harcourt International Trade Fair organised by Port Harcourt Chamber of Commerce Industry Mines and agriculture (PHCCIMA) at the Isaac Boro Park Port Harcourt.
The Governor who was represented by the Commissioner for Commerce and Industry, Hon Ogbonna Nwuke, said going by the need to protect and encourage business activities in the state multiple taxation must be discouraged to boost the economic moral of investors as way of incentive noting that the bill when passed into law will harmonised all forms of taxes.
It would be recalled that the state government has recently banned all revenue agents, both at state and local government levels, while urging tax payers to pay their taxes to designated banks.
According to him, government will pay more attention to small and medium scale enterprises and designe a way to empower them, emphasising that any state that undermines the importance of SMEs is heading to economic downturn. As a result of this, government is providing good roads power supply, health and, good water, he added.
The governor regretted that inspite of enormous power generated by the state, distribution remains a set back, saying that government is partnering with Power Holding Company of Nigeria (PHCN) to ensure adequate distribution of power to the consumers in the state.
He enjoined PHCCIMA members to embrace the public private partnership programme of the state government, stressing that government is only interested in 20 per cent equity as a way of encouraging the organised private sector to participate.
He described the Trade Fair as an alternate market for manufacturers and marketers to showcase their products and wares, as consumers also make their choices and urge participants to avail themselves of the available business opportunities.
Earlier, the President of PHCCIMA, Engr Vincent Furo, had said that the theme of this year’s fair is “stimulating the states economy through infrastructural development and effective public-private partnership”, noting that the major objective is to showcase investment and business potentials that abound in the state.
For the smooth running of business in the state, PHCCIMA boss calls for building of a second run way and installation of Landing Instrument System at the Port Harcourt International Airport, Omagwa to ensure effective night operations. A sustainable power policy be provided to encourage private sector participation Furo said, for government support for the chambers skill acquisition scheme for the youths.
The President, National Association of Chamber of Commerce, Industry, mines and Agriculture, Dr S.C. Okolo commended the state government for creating enabling environment for business to thrive, saying that the fair is coming at the time when government and organised private sector (OPS) are partnering for economic development.
He tasked federal government to improve on the power sector, put refineries in place, good road, security and in frastructural development before deregulating the down stream sector.
King Alfred Diette-Spiff, the Amayanabo of Twon Brass, in his good will message called on oil companies operating in Port Harcourt to identify themselves with the chambers, and as well drew the attention of government to the need to have a permanent Trade fair site.
Business
USTR Criticises Nigeria’s Import Ban On Agriculture, Others
The United States Trade Representative (USTR) has criticised Nigeria’s import ban on 25 categories of goods, claiming that the restrictions limit market access for American exporters.
This is the effect of President Donald Trump’s tariffs introduction on goods entering the United States, with Nigeria facing a 14 per cent duty.
The USTR highlighted the impact of Nigeria’s import ban on various sectors, particularly agriculture, pharmaceuticals, beverages, and consumer goods.
The restrictions affect items such as beef, pork, poultry, fruit juices, medicaments, and alcoholic beverages, which the United States sees as significant barriers to trade.
The agency argues that these limitations reduce export opportunities for United States businesses and lead to lost revenue.
“Nigeria’s import ban on 25 different product categories impacts United States exporters, particularly in agriculture, pharmaceuticals, beverages, and consumer goods.
“Restrictions on items like beef, pork, poultry, fruit juices, medicaments, and spirits limit United States market access and reduce export opportunities.
“These policies create significant trade barriers that lead to lost revenue for United States businesses looking to expand in the Nigerian market”, the agency said .
In 2016, Nigeria implemented the ban on these 25 items as part of efforts to control imports and stimulate local production.
Some of the banned items include poultry, pork, refined vegetable oil, sugar, cocoa products, spaghetti, beer, and certain medicines.
On March 26, 2025, the Federal Government also announced plans to halt solar panel imports to encourage local manufacturing as part of its push for clean energy.
Business
Expert Seeks Cooperative-Driven Investments In Agriculture
A leading agribusiness strategist and digital agriculture expert, Ayo Oluwa Okediji, has sought cooperative-driven investments in sustaining growth of poultry industry in Nigeria.
He said the poultry industry was at a defining moment and requires urgent structural reforms to secure its future and ensure long-term sustainability.
Speaking on the theme, “Strengthening Poultry Farming Through Cooperative Synergy and Strategic Investments”, at the recently concluded Oyo Mega Poultry Workshop 2025 in Ibadan, Okediji called on poultry farmers, cooperative leaders, financial institutions and policy makers to rethink the existing structure of the poultry sector.
He stressed the need to transition from fragmented, individually-driven operations to well-structured, cooperative-led enterprises capable of attracting sustainable financing and securing long-term viability.
He said, “Our poultry sector cannot thrive on individual effort alone. We need to organise ourselves into cooperative clusters, build strong governance systems and position ourselves to attract the level of investment needed to sustain this industry beyond this generation.”
Drawing on lessons from successful global cooperative models such as Rabobank in the Netherlands and Landus Cooperative in the United States, Okediji introduced the FarmClusters Poultry Model, a locally adapted solution developed by Agribusiness Dynamics Technology Limited (AgDyna), a subsidiary of AgroInfoTech Africa.
According to him, the model is currently being piloted in Oyo State in partnership with PANOY Agribusiness Limited and local poultry cooperatives.
Business
NACCIMA Proposes Hybrid Oil Palm Seedlings For Farmers
The Rivers State Representative of the Nigeria Chambers of Commerce, Mines, Industries and Agriculture (NACCIMA), Mr. Erasmus Chukwundah, has urged palm oil farmers to consider hybrid seedlings for planting, if they must break even in palm oil business.
Chukwundah said this recently at the Free Oil Palm Business Climate Smart Best Management Practice/Assistance Training organized by Partnership Initiative In Niger Delta (PIND) for Palm Oil Farmers in Elele, Ikwerre Local Government Area.
The Rivers representative said until palm oil farmers begin to consider such hybrid oil palm seedlings, they may not meet up with the daily increasing demand of palm oil in the market.
According to him, the seedlings produce up to 30 bunches at once that ripen same time.
He said PIND decided to partner with Oil Palm Growers Association of Nigeria (OPGAN) to ensure that the message was received by the targeted audience.
According to him, palm oil remained a popular choice of industry operators as it could be converted to many other products such as vegetable cooking oil.
He also noted that products such as motor tyers, marine ropes and others are now gotten from the palm tree.
Chukwundah, who is the immediate past Director-General of Port Harcourt Chamber of Commerce, Mines, Industries, and Agriculture (PHCCIMA), further warned against use of unrecommended fertilisers in growing oil palms.
He noted that such practices could limit its export value or chances as the foreign marketers have a way of detecting such .
He reiterated the need for organic fertilizers, including poultry droppings, to enable them have a natural palm oil.
“People must reduce physical contact with palm oil production. That is why we are campaigning for hydrolic oil mills. The foreign markets are no longer interested in crude method of palm oil production”, he said.
Meanwhile, one of the farmers, Sonny Didia, who appreciated Chukwundah’s commitment towards the concern of farmers, appealed for an urgent need for loan opportunity with low interest rate in order to enable them beat the target.
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