Connect with us

Business

Hotel Owners Lament Erratic Power Supply, Toll On Business

Published

on

The Hotel Owners Forum,
Abuja (HOFA) on Thursday in Abuja lamented the erratic power supply to the city, saying it had negatively affected the hospitality industry in the territory.
The President of the association, Dr Bola Onigbogi, told newsmen that the erratic power supply had taken a negative toll on their operation.
According to her, hotel business in the Federal Capital Territory is saturated and owners cannot start increasing room rates and other services.
“Before the proposed 45 per cent electricity tariff increment in February this year; we were complaining that what we were paying then was high.
“Now they have increased the tariff by 45 per cent; actually, the court and the National Assembly had stopped them from implementing the increase.
“But they went ahead and implemented it; we are not finding it easy, and to make matters worse, the supply is not there and we pay the high rate for power,’’ she reiterated.
She said that the erratic power supply was impacting negatively on commercial and domestic activities in the country.
Onigbogi said that consumers across the country were groaning because the electricity supply was erratic.
“Even the Transmission Companies of Nigeria confirmed that there was a sharp drop in the electricity supply across the country.
“By the time you put all these together, you will discover that many businesses in the country are running at a loss; we are not making profit like before again.
“We spend over 35 per cent of our profit on alternative power supply only; it is not supposed to be so; it should be like 10 to 15 per cent.
“Government needs to do something about it because we cannot continue like this; it is not easy,’’ she stressed.
Meanwhile, Chief Tomi Akingbogun, the President of Federation of Tourism Association of Nigeria (FTAN) said that the recent increment in electricity tariff was ill timed.
According to him, the investors are supposed to have given all electricity consumers prepaid meters before implementing any form of increment.
He said that many hotel owners in Abuja were converting their hotels into residential facility.
“I know more than three hotels in Abuja that have been converted to residence; as at now.
“There are hotels that cannot pay their workers’ salaries; some are owing their staff for some months; these are due to challenges facing the hospitality industry in the country.
“The investors in the power sector and Nigerian Electricity Regulatory Commission do not have the Nigerian people and business in their minds; they are only after the profit for the investors,’’ he said.
Speaking in same vein, Mr Martins Agbo, the Public Relations Officer of Nicon Luxury Hotel, Area 11 in Abuja said that the government needed to wake up and do the needful.
According to him, the Federal Government before privatising the sector, had invested a lot of money in the power sector, but there was no commensurate improvement.
“This is because of corruption; Nigerians handling the power sector were not sincere in the provision of uninterrupted power supply to Nigerians.
“Sabotage is another thing that the government has to look into with all manner of doggedness; because many unpatriotic Nigerians are hell bent on destroying power installations in the country.
“We spend a lot of money on alternative power supply for the hotel, but it would have been better if public power supply is constant to justify the increment in tariff,’’ he said.

Continue Reading

Business

USAID Re-emphasizes Agricultural Collaboration With Nigeria 

Published

on

The United States Agency for International Development (UNAID) has said its programmes operate transparently and align with the Nigeria’s laws.
A statement issued by the US Mission in Nigeria highlighted the significant achievements of its agricultural collaboration with Nigeria,  within the week,  saying it  has supported over five million Nigerian farmers since 2019.
The agency stated that it has boosted food production and strengthened rural economies across the country through its efforts.
“Recent media coverage has presented an inaccurate picture of US agricultural initiatives in Nigeria, such as assisting local agencies’ efforts in strengthening regulatory processes for agricultural biotechnology”, the statement noted.
The US Mission stressed that its agricultural programmes are developed and implemented with Nigerian experts, farmers, and government officials.
USAID explained its initiative’s focus on practical support for farmers, including market access, agricultural training, and research collaboration.
The agency reaffirmed its commitment to ensuring all research findings and programme details remain publicly accessible through official channels.
“Our agricultural partnership represents a shared commitment to addressing Nigeria’s food security challenges through locally-driven solutions”, it  stated.
The US Mission also underscored its ongoing consultations with Nigerian stakeholders, maintaining regular dialogue with farmers, experts, and government agencies.
It reiterated its respect for Nigeria’s agricultural sovereignty and traditions.
“We are proud of our record of supporting Nigerian farmers while respecting local agricultural traditions and practices”, it added.
Continue Reading

Business

Nigeria’ll Lead In Agricultural Export This Year – Tinubu

Published

on

President Bola Tinubu has expressed his administration’s ambition to position Nigeria as a global leader in agricultural exports as a cornerstone of his Renewed Hope Agenda.
He disclosed this recently at the Road to South-South National Convergence for the Renewed Hope Agenda at the Presidential Villa.
Represented by the Minister of Regional Development, Abubakar Momoh, he also unveiled the Earn from the Soil Initiative, which aims to transform subsistence farming into a robust, export-driven sector.
“This initiative is a powerful declaration that we are committed to turning our non-oil resources into collective prosperity. Nigeria will be a leading agricultural export nation”, he said.
The Earn from the Soil project was designed to revolutionise Nigeria’s agricultural landscape, creating export opportunities and ensuring national food security.
According to the President, the initiative will empower citizens to become agents of economic prosperity, transforming local farming practices into global economic drivers.
He also highlighted the untapped potential of the South-South region, known for its rich natural resources and talent, and called for more significant investment in non-oil sectors.
“The South-South is open for business just as the whole of Nigeria is ready for business. We are creating an ecosystem of opportunity, innovation, and sustainable growth”, he said.
Tinubu’s administration seeks strategic support from local and international partners to build a resilient economic ecosystem, moving away from reliance on traditional aid.
Tinubu also emphasised the crucial role of young people and women in driving the initiative’s success.
The President assured Nigerians that his administration remains committed to fulfilling its promise of restoring hope and confidence, with the Earn from the Soil initiative marking a significant step in achieving that vision.
On her part, the Senior Special Assistant to the President on Community Engagement (South-South), Hon Gift Johnbull, has spotlighted the South-South region as a critical hub of untapped economic potential, calling for strategic partnerships to unlock its vast resources and foster national growth.
She underscored the region’s significant contributions to Nigeria’s economy, particularly in oil and gas, while emphasising its underutilised agriculture, innovation, and entrepreneurship opportunities.
She also called on investors, policymakers, and stakeholders to see the South-South as a gateway to new opportunities, citing initiatives such as the Pitching Den, launched at the event, as a platform to attract bold entrepreneurs and visionary investors.
“This is your moment to recognise the South-South as a hub of untapped potential”, she said.
The event also featured the unveiling of the Impact Report, highlighting milestones achieved under President Bola Ahmed Tinubu’s Renewed Hope Agenda.
The report showcased how targeted initiatives have empowered communities and driven progress in the South-South.
Continue Reading

Business

NDLEA, NIMASA Strengthen Cooperation Against Drug Trafficking 

Published

on

The Nigerian Maritime Administration and Safety Agency (NIMASA) has recommited to supporting the National Drug Law Enforcement Agency (NDLEA) in the fight against drug abuse and trafficking within Nigeria’s maritime sector.
Chairman of the NDLEA, Brig. Gen. Mohammed Buba Marwa (rtd), emphasized this during a courtesy visit by the NDLEA to the NIMASA Towers in Lagos.
Speaking during the visit, the Director General of NIMASA, Dr. Dayo Mobereola, commended the NDLEA for its remarkable achievements in combating drug-related crimes across Nigeria.
He pledged NIMASA’s commitment to collaborating with the NDLEA to secure Nigeria’s maritime domain against illicit shipment of drugs.
“We are glad to welcome the NDLEA team, led by Brig. Gen. Marwa, whose exemplary leadership has brought significant progress in the fight against illicit drugs.
“NIMASA is firmly committed to partnering with the NDLEA to tackle the menace of drug trafficking, particularly through our nation’s ports and terminals.
“Together, we can ensure that the Nigerian maritime domain is not exploited for criminal activities”, Mobereola stated.
Responding, Marwa expressed gratitude for the warm reception and emphasized the need for collaboration to address the rising threat of drug trafficking through maritime channels.
“As the agency responsible for controlling drug abuse and trafficking in Nigeria, we recognize that this task requires collaboration with critical stakeholders like NIMASA.
“The global maritime space has increasingly become a conduit for the illegal movement of drugs, and we are keen to work with NIMASA to address this challenge”, he said.
He continued that “Recent seizures of illicit drugs transported through Lagos ports underscore the need for joint efforts to secure our ports. Within the NDLEA, we have established a Marine Command to focus on this emerging threat.
“We propose close collaboration between this unit and NIMASA, particularly through the Deep Blue Project, to enhance the protection of Nigeria’s maritime space”.
The NDLEA Chairman also pledged the agency’s support in sensitizing NIMASA staff and cadets under the National Seafarers Development Program (NSDP) on the dangers of drug abuse.
Mobereola assured Marwa that NIMASA would explore avenues to integrate NDLEA personnel into the existing maritime security architecture, particularly the Deep Blue Project.
Continue Reading

Trending