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Zenith Bank Seminar: Stakeholders Call For Revitalisation Of Nigeria’s Non-Oil Export Ind.

September 5, 2024

Stakeholders have unanimously called for concerted efforts towards adding value to non-oil export products by processing them into semi-finished and finished goods in order to unlock significant economic benefits for the nation. This clarion call was made at the 9th Edition of the Annual Zenith Bank International Trade Seminar themed “Nigerian Non-Oil Export Industry: Awakening the Giant”, which was held on Wednesday, September 4, 2024, at the Civic Centre, Victoria Island, Lagos and virtually.

In her welcome address, the Group Managing Director/Chief Executive Officer of Zenith Bank Plc, Dame (Dr.) Adaora Umeoji, OON, highlighted the importance of non-oil export as a catalyst for job creation. According to her, “Our theme “Awakening the Giant,” speaks directly to the untapped potentials within the non-oil segment of the economy and how to optimize them. This involves an increase in the number and volume of exportable non-oil items and value addition to exportable items into finished products. Increasing the number and volume of exportable non-oil products implies more business for you, our esteemed exporters, and increased foreign exchange earnings for our country. In addition, this sector will drive employment generation for Nigerian youths who constitute 60% of the estimated 233 million population, and Zenith Bank is committed to being at the forefront of these efforts.”

Delivering his keynote address, the Secretary, National Action Committee, AfCFTA, Mr. Segun Awolowo, commended Zenith Bank and its leadership led by the Founder and Chairman of the Board, Jim Ovia, CFR, for its laudable initiative in organizing an annual export seminar targeted towards exploring opportunities for growth in Nigeria’s non-oil export industry and for its consistent exploits in supporting the implementation of the AfCFTA. Commenting on the theme of this year’s export seminar, he added that “In awakening the giant, we must focus on scaling production, productivity and value addition for some specific export products with high potential across three main sectors – solid minerals, agriculture and petro-chemicals. We should also aim to capture at least 5% of the global trade and export volumes for these products. Additionally, in the genie bottle is the services sector, which is not only a major contributor to Nigeria’s GDP but also a key driver of economic diversification, job creation, and innovation.”

Also in his keynote address, the Managing Director of Nigerian Export Import Bank (NEXIM), Alhaji Abba Bello, emphasized the need to amplify the export of services in order to facilitate economic growth. In his words, “A key area that needs mentioning is the need to intensify efforts to support the promotion of export of services to leverage on the sector’s economic strength in which the services sector annually contributes over 50% to the GDP. Specifically, strategic frameworks need to be developed to complement current Government’s US$620 million programme under the Digital and Creative Enterprise (IDiCE), which is designed to empower youths to create IT and skilled / technical jobs that could promote and expand export of ICT and creative industries products and services.”

In his goodwill message, the Governor of Lagos State, His Excellency Babajide Olusola Sanwo-Olu, represented by The Honourable Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs. Folashade Ambrose-Medebem, highlighted the efforts of the Lagos State Government in facilitating non-oil export for the growth of the Nigerian Economy. He said, “This seminar’s theme resonates deeply with the strategic objectives of the Lagos State Development Plan 2052. Nigeria’s creative economy is a powerful engine of growth and a key pillar of our export diversification strategy. Our focus is on value addition—transforming raw agricultural products into finished goods that command higher prices in international markets. For instance, Lagos State is rapidly becoming a hub for the processing of cocoa, cashew nuts, palm oil, and sesame seeds. These products, when processed and packaged to international standards, can significantly boost our export revenues and create thousands of jobs for our citizens. The manufacturing sector offers another promising avenue for export diversification. Our vision is to transform Lagos into a global manufacturing hub, where high-quality, made-in-Lagos products are exported to every corner of the globe.

Also in his goodwill message, the Governor of Kano State, Engr. Abba Kabir, represented by the Special Adviser, State Affairs, Usman Bala Muhammad, emphasized strategic advantages in economic diversification in non-oil exports. In his words, “Our strength begins with agriculture, which has been the cornerstone of our economy for decades. Kano’s agricultural sector has a strong base that we are leveraging for diversification. However, diversification is not just about increasing crop yields; it is about adding value. Through strategic investments in agro-processing, we are converting raw agricultural products into finished goods, creating jobs, and enhancing local consumption. By aligning our export diversification strategies with global market trends and standards, and leveraging opportunities such as the African Continental Free Trade Area (AfCFTA), we can significantly expand Nigeria’s non-oil exports to African markets and beyond.

Speaking on diversification, the Governor of Zamfara State, Dr. Dauda Lawal, represented by the Commissioner of Finance, Abdullahi Bello Auta, urged stakeholders to explore other untapped areas for export. According to him, “One major important sector which contributes to non-oil export which is not harnessed and which is giving us a lot of trouble simply because it is not organized is the mining sector. I can tell you with all sincerity and courage that once we are talking of mineral resources in Nigeria, Zamfara state is the hub. There is no single solid mineral that you can talk of that you cannot find here in abundance and in good quality.”

Zenith Bank launched the Non-Oil Export Seminar in 2015 as an initiative to deepen the discourse on promoting the non-oil export business in Nigeria, and remains committed to promoting the non-oil export sector in Nigeria by identifying emerging opportunities which help stimulate non-oil exports and develop robust financial products as well as incentives for operators in the sector.

Battle Between Wike, PDP Govs Forces Party To Shift NWC Meeting

James Orji

September 5, 2024

More facts are emerging why the opposition Peoples’ Democratic Party, PDP, postponed its National Working Committee, NWC, meeting originally scheduled for Wednesday, September 5.

The shift, however, did not come as a surprise to many watchers of the party in view of the division among its leaders over the political crisis in Rivers state.

The party in the oil rich rich has been divided among the supporters of Governor Sim Fubara and his predecessor, now FCT Minister, Nyesom Wike.

Amidst the struggle for the soul of PDP in the state, the Umaru Damagun-led NWC had recently annoyed the PDP governors after it went ahead to conduct local government congresses to elect party officials despite a court injunction against such.

The congress, watchers of politics in the state insists, automatically handed over the structure of the party to the former governor.

The governors led by Bauchi state governor Bala Muhammed are supporting the state helmsman, who they believe should be in charged of the party structure in the state in line with the political norm in the country, where state governors are allowed to be in charge of party structures in their states.

The botched Wednesday NWC meeting, it was learned, was called by the party leaders to reconcile the warring parties, but was shunned by the governors, a situation that forced the leadership to shift the meeting to a future date.

According to The Punch, the governors are not happy that some leaders of the party are still supporting Wike despite what they described as his anti-party activities, and for being allegedly responsible for the crisis in Rivers state.

Recall that the governors recently met in Bauchi state where they declared their support for Fubara.

Their action angered the FCT Minister who threatened to destabilise the states controlled by the PDP governors supporting his successor by putting ‘fire’ in their states.

“Some governors say they will take the structure from us and give it to somebody. I hear that they have given them assurance that they will take the party from us. I pity those governors because I will put fire in their states. When God has given you peace, you say you don’t want peace. Whether you are in Bauchi or wherever, your hands will get burnt. You will never see pace again,” Wike boasted.

The governors in their response described Wike outbursts as irresponsible, adding that they decided to support Fubara the same way they supported him while he was governor.

Reacting to the postponement of the NWC, a top member of the a party, who craved anonymity, stated that there was no need for the meeting when the rivers crisis remained on the table, adding that the Acting chairman of the party, Damagun was forced to shift the meeting out of concern it might lead to a confrontation.

The source said, “They are only playing games with the party members and its future. Those present at the secretariat today are part of their team.

“They postponed the meeting because they wee afraid of the potential outcomes. If we had met today (Wednesday), we would have discussed the Rivers and other states’ congresses. The NWC needs to approve everything. Pressure from Wike and from governors to the entire NWC led them to delay the meeting to buy time.

“They were at the Secretariat to plan their next move. That is why some of us are not aware. With the governors having taken an open stance, they are trying to delay things to achieve their objectives. Thus, they deliberately postponed the meeting.

“On our side, we can’t call for an NWC meeting because Wike’s faction is in the majority. But, let’s see what they will do next.”

When reached for comment, the PDP acting National Chairman clarified that no meeting was planned for Wednesday.

Meanwhile, Damagun in his response to the newspaper query said no meeting was planned for yesterday. “it seems like you are the one suggesting the meeting,” he said.

Why Peter Obi Moved Against LP Chairman, Abure

The Source

September 5, 2024

The Presidential Candidate of the Labour Party in the 2023 general elections, Peter Obi and other critical stakeholders led by Governor Alex Otti of Abia state on Wednesday took a bold step toward recreating their political platform, the Labour Party.

In a move aimed at ending the crisis in the party since the controversial National Convention held in a hotel room in Nnewi, Anambra state by the Julius Abure-led National Working Committee, NWC, the sole Labour Party Governor of Abia state and the National leader of the party Obi decided to take the bull by the horn by summoning an enlarged National Executive Committee, NEC of the party in Umuahia where a far reaching decision was made to give direction to the party.

After exhaustive deliberations on how to move the party forward, former Minister of Finance, Senator Nenadi Usman was nominated to head an interim National Working Committee, NWC with a 90-day mandate to organize congresses at all levels of the party including a National Convention to elect substantive officers of the party.

Senator Usman will be assisted in the 29 member transition committee by former Senate Minority Leader, Senator Darlington Nwokocha who will act as Secretary.

The well-attended meeting also had the Presidential running Mate to Obi, Dr Datti Baba-Ahmad, Deputy Governor of Abia State and all elected Legislators under Labor at the National and state levels as well as gubernatorial candidates of the party in the 2023 polls.

In her acceptance speech, Senator Nenadi promised to work with her team for the unity and growth of the party.

The Peter Obi Media Office, POMR has been besieged by Labour Party adherents across the country calling and commending the move as long expected. They also noted that this bold political move was coming 48 hours after a National Coordinator was appointed for the Obidient Movement, a critical component of the Labour Party pushing for the Presidential ambition of their leader, Peter Obi.

National Economic Council Gives Deadline On State Police

Ayodele Oni

September 5, 2024

By Ayodele Oni

The idea and agitation for establishment of State Police topped agenda for discussion at Wednesday’s meeting of the National Economic Council (NEC).

At the end of the meeting, NEC set a deadline of September 9, 2024, for all states to submit their positions on the establishment of State Police.

The deadline was announced during a meeting on Wednesday chaired by Vice President Kashim Shettima.

Speaking to State House Correspondents after the meeting in the Council Chamber of the State House in Abuja, Acting Governor of Oyo State, Bayo Lawal, reported that out of the 36 states, four had yet to submit their positions to NEC.

Lawal stated that the remaining four states have been given the opportunity to turn in their position by Monday.

According to him, any state that refuses to comply will have no choice than to comply with anyone impose on it.

Katsina Gov Radda Seeks Partnership With Military To End Banditry

Ayodele Oni

September 5, 2024

Umar Dikko Radda - Governor of Katstina State

By Ayodele Oni

Following Presidential directive to Security Chiefs to relocate to the Northern part of the country, the Chief of Defence Staff, (CDS), Gen Christopher Musa has arrived Katsina State.

While receiving him, Katsina state Governor, Dr Dikko Umaru Rada has assured the Chief of Defence Staff, (CDS), General Christopher Musa of State Government continuous support and partnership with the Armed Forces of Nigeria (AFN) towards the fight against banditry and insecurity.

Governor Radda gave this assurance when the CDS, paid a visit to Katsina State to assess the operational readiness to address security challenges.

He thanked the CDS for coming to assess security situation in the state with the aim of providing a lasting solution.

Radda said the government is sensitizing people on the need to cooperate with Armed Forces and other security agencies.

The Governor also assured that the State will continue to demand more, while appealing for increased security presence in the southern part of Katsina state.

In his response, General Musa thanked the Governor for his enormous support to the AFN and for providing a conducive atmosphere for troops to operate.

He also commended the governor’s commitment and developmental stride in the state. The CDS informed the governor that he was in Katsina on the order of the president to asses Joint Operation Areas.

General Musa further called on the people of the state to cooperate fully with the military and other security agencies in Katsina.

According to him, “security is everybody’s responsibility”. All must come to together to ensure security challenges are addressed.”

Lagos Moves To Checkmate Rising Costs Of Food Items In The Market

James Orji

September 5, 2024

The Lagos state government has made a move to control the distribution and prices of food items in the state. This is necessary, to ensure that consumers are not ripped up by Shylock food sellers.

The state said it’s surprising that for prices have continued to hit the rooftops despite the support the state government has been extending to farmers.

This is coming amidst frustration among not a few Nigerians of the high cost of food in the market which has affected the daily lifestyles on many families in the country.

Many Nigerians recently protested across the country under the #Endbadgovernance for 10 days, to draw government’s attention to their hardship and sufferings due to the high cost of basic commodities in the market.

According to the state’s commissioner of Agriculture, Bisola Olusanya “going forward” the Babajide Sanwo-olu administration wants to ensure that the support it’s providing for farmers in the state is also reflected in the prices of food items.

Olusanya made this known on Wednesday while representing Governor Sanwo -olu at the 2024, “LCCI Agric Symposium and Fair.”

She noted that profiteers in the food chain distribution are frustrating governments efforts to ensure that food prices are brought down, adding that the government will now try to ensure that “the average Lagosians and Nigerians can see the impact” of government supports for the agricultural sector from how much they pay when the food items get to the market.

She said, : “Going forward, government has said any support to any farmer has to be with an agreement that we must understand your trail to the market for us to be able to say that ‘yes we supported you with this based on this amount and this is the price you are going to sell in the market.

“The federal, state and local governments invest so much in food production. But we do not follow our investments to the markets.

“What I mean is that we give farmers inputs and we give processors support but we do not follow the products to the markets to ensure that the prices at which these items are being sold are reasonable for average Nigerian.

“We leave the dynamic of pricing to market arbitragers and those who will play at the margins and at the end of the day we say that ‘prices of foods are too high.

“We must ensure that with all of our supports, the average Lagosians and Nigerians can see the impact. The average Nigerian out there does not understand that you gave someone a bag of fertilizer, seeds and pesticides.

“The only thing Nigerians wants to hear is that the price of foodstuff is now at this low price,” she noted.

LP Chairmanship: Abure Ousted, As Former Jonathan Minister Nenadi Usman Emerges Interim National Chairman

Suleiman Anyalewechi

September 4, 2024

By Suleiman Anyalewechi

Rising from its expanded stakeholders meeting in Umuahia on Wednesday September 4, 2024, the Labour Party, LP, appointed erstwhile Minister for Finance, Esther Nenadi Usman, as the Head of its National Caretaker Committee.

The Source reports that Governor Alex Otti of Abia state had, last week, convened the meeting to resolve the issues that resulted from the party’s Nnewi Convention earlier in the year.

The Barrister Julius Abure- led National Working Committee, NWC, which was elected at the controversial Convention, boycotted by the Party’s major stakeholders, including Peter Obi, vehemently opposed the meeting.

Usman also represented Kaduna South Senatorial District in the Senate 2011 and 2015.

The immediate past Senator who represented Abia Central Darlington Nwokocha, was selected as the interim National Secretary.

The 29=member Caretaker Committee is to serve for a period of three months within which period it is expected to reposition the faltering party .

Primarily, the Interim Committee is to, within the period, organize a credible and all inclusive Convention for the election of a new National Executive Council, NEC.

Before then, the Committee will take steps to reconcile all aggrieved members, organize Ward ,Local and State Congresses.

Expectedly, Abure and most of his NWC members, in furtherance of their initial opposition, shunned the meeting, which also featured Datti Baba Ahmed, Obi’s running mate in the 2023 presidential election, and some members of the National Assembly caucus of the LP .

Instructively, the Party’s Gubernatorial Candidate in Lagos, Gbadebo Vivour-Rohdes ,whose State chapter had publicly disowned the meeting as illegal, was conspicuously present.

However, it is not yet known what will be the next step of the ousted Abure led NWC.

Fuel Price Hike: President Tinubu Assaults Sensibility Of Nigerians – PDP

Ayodele Oni

September 4, 2024

Bola Ahmed Tinubu - President — President Bola Ahmed Tinubu

By Ayodele Oni

The People’s Democratic Party (PDP) has rejected the fuel price Hike of about N1,000, describing it as a brutal assault on the sensibility of Nigerians.

The opposition party was of the view that the current hike in fuel price is an indication that President Bola Tinubu, and his party, the All Progressives Congress (APC) have lost relevance in governance.

A statement on Wednesday by Debo Ologunagba, spokesman for the PDP noted that “The thoughtless increase in fuel price especially at this time, is a huge recipe for crisis as Nigerians cannot bear its worsening effect on the suffocating economic hardship, which they currently face under the President Bola Ahmed Tinubu-led APC administration.

“The secretive and corrupt administration of the petroleum sector and persistent increase in fuel price under the Tinubu-administration, without due regard to the wellbeing of the people, is akin to pushing Nigerians to the wall and daring them to do their worse.

“The APC administration has consistently shown itself to be anti-people, unconcerned and deaf to the agonies of millions of Nigerians who can no longer afford their daily meals, medications and basic support for families due to the catastrophic high cost of living occasioned by the insensitive and reckless policies of the Tinubu administration.

“Today, under the Tinubu-led APC administration over 150 million Nigerians have sunk below poverty line, businesses are collapsing daily as the Naira now exchange for over N1,600 to a Dollar with over 34% inflation rate and over 40% unemployment rate which are expected to rise further with the latest draconian increase in the price of fuel.

“There is practically no hope in sight under the current APC government policies as major multi-national companies continue to exit our country in droves in the face of ill-conceived and ill-implemented macro-economic policies.

“The admission by the APC-led Federal Government that it has handed the fate of Nigerians to oil racketeers in the name of free market economy further validates the position of the PDP that the Tinubu-led administration has abdicated the primary purpose of government; which is to provide for the welfare and security of the citizens.

“President Tinubu is the Minister of Petroleum Resources and cannot exonerate his government and officials from the secretive and fraudulent management of the petroleum sector which is fast pushing our nation’s economy to the precipice.

“Moreover, it is inexplicable that the APC administration continues to increase fuel price despite the scandalous revelation in the public domain that it is secretly paying a whopping N5.4 trillion as fuel subsidy for 2024

“The APC government has now become an enabler of a cabal of corrupt APC rent-seekers who apparently derive pleasure in inflicting pains on Nigerians while hugely benefiting from the proceeds of incessant increase in fuel price to satisfy and fund their luxury appetite and consumption.”

NLC: Presidential Aide Lied, We Stand By Our Statement

Adesina Soyooye

September 4, 2024

By Adesina Soyooye

The Nigeria Labour Congress, NLC, has taken a swipe at one of President Bola Tinubu’s Media Aides, Abdulaziz Abdulaziz.

Abdulaziz had, on Wednesday, faulted Labour’s stand on the sudden fuel price hike. The Federal Government had, in an unexpected move, hiked the fuel price to N900, almost, per litter, and that, in the middle of an excruciating fuel scarcity that has turned lives inside out, upside down.

In reaction to the hike, NLC said Mr President has betrayed Labour. In a statement issued by its President, Comrade Joe Ajaero, the NLC bemoaned the suffering of the masses, and asked the Federal Government to revert. The statement pointed out that the NLC agreed to the N70,000 minimum wage offered by the President, on the condition that there will not be another hike in fuel price. It accused the Federal Government of betraying Labour by reneging on his promise during the meeting with him.

But Abdulaziz, in a swift response, said there was no such discussion between Mr President and Labour Leaders, and, therefore, no such promise to the NLC.

Proof: Abdulaziz said he was present at both meetings the NLC held with Mr President.

Miffed, the NLC, in a statement signed its Head of Information and Public Affairs, Benson Upah, on Wednesday, literally dismissed Abdulaziz as a liar who is suffering from selective amnesia. It recounted how, and why, the Congress agreed to the N70,000 minimum wage offered by the President and said it stands by its statement which denounced Tuesday’s hike in fuel price. It insisted on an immediate reversal to the old price.

Following, the NLC statement, the second within 24 hours.

WE STAND BY OUR STATEMENT

“Our attention has been drawn to the denial credited to the Senior Special Assistant to Mr President on the Print Media, Mr Abdulaziz Abdulaziz.

“In the said statement, Abdulaziz was quoted as saying:

‘I sat through the two meetings President Bola Ahmed Tinubu had with Labour leaders on minimum wage. At neither of the meetings was an offer made in exchange of fuel price hike. Ajaero is once again playing his dirty politics with the emotions of Nigerians’.

“We find amusing the denial of Abdulaziz. We have since asked ourselves if he is suffering from selective amnesia or attention span deficit.

“However, not satisfied with his dubious denial, he elected to take a side dig at Comrade Joe Ajaero as ‘…once again playing his dirty politics with the emotions of Nigerians’.

“Whatever the matter is with Abdulaziz, we stand by our statement. And if Abdulaziz was at those meetings as he claimed, he should be courageous enough to let the world know whether the President gave the labour leaders one hour to meet and resolve to either accept and allow increase or accept N62,000.

“Labour leaders instead chose to meet outside the Villa and report in a week. When they came back, they were blunt and rejected the offer.

“As for Abdulaziz’s side-dig, he should stop insulting the intelligence of Nigerians as they do not need Comrade Joe Ajaero to know they have been taken for a ride and that life has never been this mean, all due to the policies of government.

“We also find it necessary to let Abdulaziz and those who sent him know that Nigerians are entitled to a decent, respectable life free from harassment, intimidation and starvation.

“Government may have all the ultimate weapons of coercion, true power resides with the people.

“Finally, we are also acutely conscious of the fact that falsehood does not live forever.

“Benson Upah

Head of Information and Public Affairs”

The new fuel price hike has attracted strong condemnation from a good number of people from all walks of life.

Fuel Price Hike: NANS Divided Over Planned Nationwide Protest, Issue Counter Directive

Ayodele Oni

September 4, 2024

By Ayodele Oni

The National Association of Nigerian Students, (NANS) has issued a notification of a planned massive shutdown of all major cities in Nigeria, effective from September 15, 2024.

The students body said the protest is in response to the recent fuel price hike and the perceived incompetence of the NNPC Director General, Mele Kyari.

The union, in a statement on Wednesday, equally demanded an immediate reversal of the fuel price hike and the removal of Kyari as the NNPC DG.

The notice was signed by Okunomo Henry Adewumi, President of the Senate (NANS).

In another counter statement, signed by NANS Senate president, Akinteye Babatunde Afeez, stated that the leadership of NANs was not aware of any planned nationwide protest.

Afeez statement reads “The leadership of the National Association of Nigerian Students (NANS) has denounced claims that it is planning a massive shutdown of major cities across the nation through protest.

“In a statement, NANS Senate president, Comr Akinteye Babatunde Afeez, noted that the student association did not announce or endorse such, hence, rumours circulating to that effect are baseless and do not reflect the position or intentions of NANS.

“It called on security agencies to act decisively in apprehending any individuals or groups attempting to use the name of NANS to incite unrest or disrupt the peace of the nation.”

According to the notice, issued by NANs president Okunomo, the students plan to occupy all major cities in the country on September 15, 2024.

The notice assured that the protest will be peaceful and lawful.

“We write to notify you of an impending massive shutdown of all major cities in Nigeria, effective 15th September 2024, in protest of the recent hike in fuel prices and the gross incompetence of the NPC Director General, Mele Kyari.

“The incessant increase in fuel prices has brought untold hardship to the masses, and we can no longer stand idly by while our future is mortgaged by the actions of a few.

“We demand an immediate reversal of the fuel price hike and the removal of Mr. Kyari as the NNPC DG.

“We call on all Nigerian students across the country to wake up to this clarion call, as we will be occupying all major cities on the 15th of September, 2024.

“We shall not be silenced, and we shall not be intimidated. We shall rise in unison to demand a better deal for Nigerian students and the masses.

“We urge you to take necessary measures to maintain law and order during the shutdown, as we assure you that our protest will be peaceful and lawful.”

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