Daybreak, Politics, Entertainment, Sport

Author: Day Break

Impact lives of your people, Gbajabiamila urges those in authority
…as Imo Reps dole out commercial vehicles, motorcycles, grinding machines to constituents
Doris Ferdinand
Speaker of the House of Representatives, Rep. Femi Gbajabiamila, has enjoined Nigerians in positions of authority to imbibe the culture of impacting the lives of their people positively.
He said the welfare of the people should be of concern to Nigerians elected or appointed to serve at all times.
Gbajabiamila spoke on Monday at the Central School Umuozu, Nwagele LGA, Imo State during the constituency empowerment of Isu/Njaba/Nkwerre/Nwangele and Ideato North/South Federal Constituencies by Rep Ugonna Ozurigbo and Rep. Paschal Obi respectively.
Gbajabiamila, who was represented at the events by the Majority Leader of the House, Rep. Alhassan Ado Doguwa, said the regular empowerment of the constituents has the ultimate potential of lifting a large number of people out of poverty and make them useful to the society.
The House Leader was accompanied by the Deputy Whip of the House, Rep. Nkeiruka Onyejeocha, Rep. Bello Kaoje (Kebbi), Rep. Bello Nagari (Taraba), Rep. Babangida Alhassan (Kano), Rep. Samaila Suleiman (Kaduna), Rep. Sani Bala (Kano) and Special Assistant to Speaker Gbajabiamila on Legislative Matters, Hon. Nnanna Igbokwe.
A former governor of Imo State, Rochas Okorocha, a former governorship candidate in the state, Uche Nwosu, and members of the traditional rulers’ council from the two Federal Constituencies also graced the empowerment programmes.
While appreciating the legislative efforts and the economic empowerment of their constituents, Gbajabiamila said the events of the day became worthwhile considering the dire economic situation foisted on Nigerians by the coronavirus (Covid-19) pandemic.
The Speaker urged the beneficiaries to show appreciation by growing their respective trades so that they could empower others.
“Aware of our present economic situation, what is happening here today is what has been going on around the entire country by every member of the House of Representatives.
“What we are witnessing here today and around the country by members of the House of Representatives is to show that we are not only sensitive but also responsible to the people who have elected us into office.”
Saying that members would not relent in empowering their constituents, he assured that the House will continue to support and complement the policies and programmes of the government at the centre and the states toward resolving socio-political, economic and security challenges confronting the country.
While appreciating Gbajabiamila, in his remark, Uzorigbo, who was at the third phase of his empowerment programmes, presented 60 commercial vehicles to beneficiaries from among his constituents at the Central School Umuozu, Nwagele LGA, disclosed that the Speaker was instrumental to the inclusion of the City Centre project in the national budget.
At the Civic Centre Ogboko, Ideato South LGA, over 300 people were presented with commercial vehicles, motorcycles, sewing machines, grinding machines and household materials, including foams, among several other economic items by Rep. Paschal Obi.
December 15, 2020
Nigeria’s inflation hits 14.89%, driven by soaring food prices
Nigeria’s inflation rose for the 15th month in a row in November, touching a more than two-year high amid spiraling food prices fueled by land border closure and fall in the exchange rate of the naira, data from the National Bureau of Statistics (NBS) showed on Tuesday.
A separate index, measuring food inflation, rose sharply by 18.30% relative to 17.38 per cent the month before.
Inflation, which measures the cost of living, climbed to 14.89 per cent, compared with the 14.21% reported for Octobe
December 15, 2020
FG grants Yola Disco N5b loan for mass metering
The federal government has granted the Yola Electricity Distribution Company (YEDC), a N5 billion loan for sourcing of 85,375 meters for its customers.
In December last year, the government said it was taking over the Disco and said it was ready to refined the sum of N26.9 billion for the acquisition of the company by private investors.
Minister of Power, Sale Mamman, who made the announcement in Yola, Adamawa State, during the launch of the mass metering programme for the YEDC, said the implementation of the programme was paying off as one of the most ambitious packages in the history of the sector in Nigeria.
“I am especially happy to inform you that the Federal Government of Nigeria has granted Yola Distribution Company a soft loan of N5,061,147,103.00 for sourcing of 85,376 meters.
“This comprises 62,324 single-phase and 23,052 three-phase meters under phase zero (0) of the National Mass Metering Programme. I, thus, call on the management of YEDC to make good use of this facility to significantly reduce the Aggregate Technical Commercial and Collection (ATC&C) losses.
“The ATC&C negatively affects the revenue stream of the company, as well as improve electricity supply to your esteemed and valuable customers,” he said.
Mamman expressed joy that Nigeria has finally got a solution for the long existing challenges of metering power consumption in the country.
“It is with great pleasure that I stand before you at this landmark event to flag-off the intervention policy of the federal government towards closing the metering gap in the Nigerian Electricity Supply Industry.
“This occasion is a clear testimony of Yola Electricity Distribution Company’s commitment to providing its customers enhanced service delivery.” He stressed.
The Nigerian electricity market, he said, has for many years struggled with inadequate revenue, thus creating significant liquidity challenge for all market participants in the value chain.
According to the minister, one of the major contributors to the funding challenge is the low level of metering for end-use consumers.
“This is the principal reason for customer resistance to payment of electricity bills due to the perceived lack of confidence and trust in estimated billing. The often-repeated reason for the low level of metering has been attributed to the inability of Distribution Companies (Discos) to raise financing for the purchase of meters,” he noted.
Mamman praised President Muhammadu Buhari for supporting the Discos with the financing towards the bulk acquisition of meters, describing the intervention of the Central Bank of Nigeria (CBN) in the provision of long-term low interest funds to the Discos as a boost for the sector.
He called on customers of YEDC to desist from tampering with electricity meters, saying that is not only on account of protecting the revenues of the Discos, but more importantly, for the safety of customers as there have been reports of consumers losing lives in the course of bypassing meters.
He also commended the management of YEDC for launching the novel initiative of the federal government and urged them to manage customer expectations, stressing that it would take some time to install the thousands of meters needed to close the gap.
December 15, 2020
BREAKING: World Bank approves $1.5bn package to help boost Nigeria’s efforts to reduce poverty
The World Bank Group discussed a new five-year Country Partnership Framework from 2021 to 2024 with Nigeria and approved a $1.5bn package to help build a resilient recovery post COVID-19.
The bank disclosed this in a statement entitled “World Bank Group to boost Nigeria’s efforts to reduce poverty,” on Tuesday.
It stated that Nigeria was at a critical juncture and with the sharp fall in oil prices as a result of COVID-19, the economy was projected to contract by over four per cent in 2020, plunging the country into its deepest recession since the 1980s.
Government revenues could fall by more than $15bn in 2020, and the crisis would push an additional five million Nigerians into poverty in 2020, according to the World Bank.
The World Bank Country Director for Nigeria, Shubham Chaudhuri, said,“This Country Partnership Framework will guide our engagement for the next five years in supporting the government of Nigeria’s strategic priorities by taking a phased and adaptive approach.
“To realise its long-term potential, the country has to make tangible progress on key challenges and pursue some bold reforms.
“Our engagement will focus on supporting Nigeria’s efforts to reduce poverty and promote sustained private sector-led growth.”
The World Bank said the CPF will focus on four areas of engagement which are investing in human capital, promoting jobs and economic transformation and diversification, enhancing resilience and strengthening the foundations of the public sector.
By investing in human capital, it said it would be increasing access to basic education, quality water and sanitation services; improving primary healthcare; and increasing the coverage and effectiveness of social assistance programs.
It said additional investments in promoting women’s empowerment and youth employment and skills, especially for young women, would also help reduce maternal and child mortality.
Promoting jobs and economic transformation and diversification would help with measures to unlock private investment and job creation, and increase access to reliable and sustainable power for households and firms.
The CPF would also focus on boosting digital infrastructure, and developing economic corridors and smart cities, to provide Nigerians with improved livelihoods.
It would enhance resilience by strengthening service delivery and livelihood opportunities in the Northeast and other regions grappling with insecurity, as well as modernising agriculture and building climate resilience.
It would ensure strengthening the foundations of the public sector by improving public financial management and strengthening the social contract between citizens and government through improved fiscal and debt management.
December 15, 2020
No mercy for criminals, Bello charge newly sworn in elected LGA officials
Governor Bello has charged newly sworn in Chairmen and Vice Chairperson of the 21 Local Government of the State to deal mercilessly with criminals in the state noting that the security of their respective Local Government Area must be guaranteed under their watch.
The Governor gave this charge while speaking on Monday at the swearing in of the Executive Chairman and Vice Chairmen after the just concluded December 12 LG polls in the state
He reminded that when his administration came on board, it met an already disbanded Local Government Council which his administration re instated following court order which his predecessor refused to acknowledge
He noted that although his administration believed that the people at the grass root deserved leadership, his government was hindered by lack of fund and could not conduct a Local Government Election at that time
Governor Bello mentioned that as a government, they were able to pull resources together to conduct the recently concluded polls and with the cooperation of the people of the state the polls held freely, fairly and peacefully without hiccups before, during and after.
He asserted that similar event in the old kwara state degenerated into serious chaos because of poor leadership but under his watch similar event went easily without a sound of gun shot.
The Governor expressed that the swearing in event was another demonstration of Unity and Oneness and that leaders across the world were witnessing a practical display of good leadership
He noted that the newly elected persons have gone through the blast furnace and have become fire brand leaders who were competent as they have been tested enough to deliver.
Speaking in his opening address, Commissioner Local Government and Chieftaincy Affairs Barrister Salami Momodu Ozigi noted that the overwhelming victory of the All Progressive Congress at the just concluded LG polls was an attestation to Governor Bello’s good leadership.
He added that Governor Bello’s dogged commitment to leadership has birthed a peaceful Kogi State which translated to the peaceful conduct of the Local Government in an unprecedented manner
The Commissioner urged the newly sworn in Local Government Executives and others to replicate the New Direction development template in their various Local areas while they also do their best to justify the confidence reposed in them by the electorates
He similarly urged them to key in and replicate the already existing peace and security template of the Governor which he noted has earned the state several accolades locally and internationally adding that they should ensure to carry all stakeholders along
December 15, 2020
Foreign exchange reserves shed $269m in five weeks
Nigeria’s foreign exchange reserves contracted by $269.47 million in the five-week period to 12th December, data from the Central Bank of Nigeria (CBN) showed on Monday.
The foreign exchange reserves, which had a balance of $35.656 billion on 4th November, declined to $34.925 billion on 12th December.
Godwin Emefiele, the governor of the CBN, recently disclosed that curbs on global travel by air and land coupled with slowdown in commercial activities triggered a significant fall in oil demand, which accounted for a 65 per cent crash in crude oil prices from January to May 2020.
“The drop in crude prices, along with OPEC reduction of Nigeria’s production quota, led to a significant decline in our foreign exchange earnings, along with a more than 60 per cent decline in revenues due to the federation account,” Mr Emefiele said.
Nigeria, like other emerging market countries and oil-dependent economies, saw a drop in its foreign exchange reserves as a result of lower crude oil earnings and a retreat by foreign portfolio investors, he added.
Emefiele remarked that naira was devalued from N305/$ to N360/$ and subsequently to N380/$.
Nigeria’s foreign exchange reserves have come under intense pressure this year as a result of steep drop in dollar revenues, which has forced monetary revenues to devalue the naira by as much as 20 per cent.
The foreign exchange reserves have dropped by about 4.5 per cent since May, when they advanced to $36.6 billion, after recovering from April lows, when they were hit by fall in oil prices and the coronavirus pandemic.
December 15, 2020
Boko Haram: Sultan Leads North, South Traditional Rulers to meet Zulum
… Asks military to occupy Lake Chad
… Says news is when no one is killed in a day
The Sultan of Sokoto, Sa’ad Abubakar, and Co-Chairman National Council of Traditional Rulers has led his colleagues from the southern and northern parts of the country to meet Governor Babagana Umara Zulum in Maiduguri.
The Sultan, on Monday, led Obi of Onitsha, Igwe Nnaemaka Alfred Ugochukwu, Oba Adekunle Adebayo, Ore of Otin, Emir of Hadeja, Dr. Adamu Abubakar Maje, Emir of Fika, Mohammed Abale Ibn Mohammed Idrissa, Amanyanabo of Opobo Kingdom, King Dr. Dandasen Douglas Jaja, on condolence visit to government and people of Borno State over the recent killings in the state.
Sultan Abubakar who retired as army General called on the Nigerian Military to occupy Lake Chad region and the Sambisa forest.
“I read about the comment the Governor made some few weeks ago, challenging the military to take the fight to the Lake Chad to clear that place. Your Excellency while I was a Lieutenant, I was at Lake Chad in Baga for six months, my battalion in Bama used to rotate with the battalion in Monguno and Maiduguri every six months. We occupied Nigeria part of Lake Chad for six months. I was a Lieutenant, I was the operation officer and I have my maps. In Lake Chad that time we had 36 islands under Nigeria, we occupied 16 of them, the biggest was king Nasara, we controlled that part of Nigeria effectively well as a battalion. Now I don’t know why we can’t occupy the whole of Lake Chad and why we can’t occupy the whole of Sambisa forest. If we want peace we have to dominate these areas. If we want peace, we have to do away with those terrorists who occupy that place and see nothing good in other people except those that believe in their own negative ideas”, the Sultan said.
Sultan Abubakar also said, they were in Maiduguri not only to commiserate with the Governor but to make a strong statement with regards to the insecurity affecting the entire nation.
“This afternoon we are at the seat of power of Borno State, in front of the Governor on this special visit, I said special because this is the first time the national council of traditional rulers of Nigeria has ventured out to any state or any town specifically to discuss or talk about the happenings in that particular place as regards insecurity and mass killing of innocent people”, Sultan Abubakar bsaid.
He also said, “The National Council of Traditional Rulers in Nigeria deem it fit to put a small team to come round to Borno State, Maiduguri in particular, to make this very strong statement.”
“It is not just a condolence visit, it is a statement that all of us are fed up with the shading of innocent blood in whatever guise across this country. So many lives have been lost in the past, we can’t even compute how many lives we have lost. It becomes like a daily occurrence, a daily event. A new normal, it becomes a story when in a day nobody was killed in a particular place of this country”.
“We had, at various fora with our political leaders, mentioned this things out, how to take care of our security operatives in various communities. We have written papers, sent our Governors, we have discussed with all our leaders, all the way forward. But we see things getting worse and worse. It used to be Boko Haram alone in Borno and Yobe, now in all over the north in particular and generally all over the country. You have bandits and terrorists all over the north, you can’t even move freely, in the south it is the same thing. The killings have taken new dimensions and we really don’t know what are the causes of this mass killings of innocent people.”
“We decided to come together as council of traditional rulers to make this statement to all and sundry, not only to the Governor of Borno State but to all our Governors. Let’s rise up to the occasion and see how we can come together to fight this menace of shading innocent blood.”
“When I came to Maiduguri last time to commission the central mosque, the Governor was a candidate, this is my first time of coming when he has taken over, Alhamdulillah we have been following with keen interest what is happening in Borno State, like I always discussed with the Shehu, from day one, even when you were not even sworn in, he told me the type of person you are, and we are not disappointed when you started doing what you are doing. We have seen the very big stride you have delivered just within one year, but you are just starting, you have a lot to do.”
“I have known Maiduguri since when i was a small kid, we have grown up here. I served in Bama, I lived in Bama for over two and half years in the barrack. The same barrack I served as Lieutenant was the same barrack vandalized and bombed.”
Before the Sultan spoke, the Shehu of Borno introduced the traditional rulers to Governor Babagana Umara Zulum, noting that the traditional rulers will give all the maximum cooperation to security agencies in the fight against insurgency.
The Shehu also called on the people of Borno to continue to provide credible intelligence to the military, noting that the fight against insurgency is a collective responsibility.
On his part, Governor Zulum thanked the royal fathers for the special visit.
Commenting on the impact of the insurgency, the governor decried the continuous dependence on donations to feed IDPs as the main source of livelihood.
The Governor said, to address the cause of the insecurity, there was need to provide sources of livelihood to the IDPs and those resettled in rebuilt communities.
December 15, 2020
Ogun set Three persons ablaze over alleged theft
The Ogun State Police Command has confirmed the lynching of three persons in the state over suspicion of theft.
The police said the incident happened at Aseese area of Mowe, Obafemi Owode Local Government Area of the state.
In a statement by the Ogun Police Public Relations Officer, Abimbola Oyeyemi, on Monday, the command said it has observed with great concern, the rate at which some members of the public are taking laws into their hands and applying jungle justice on people suspected of crimes.
Speaking, Oyeyemi said, “the unfortunate incident happened in Aseese area of Mowe in Obafemi Owode LG area of Ogun State, where three people were beaten to death and their vehicle set ablaze on mere suspicion of theft, the allegation that has not been substantiated by anyone.
“It was the quick Intervention of police from Mowe Division that saved the other two from being gruesomely murdered.”
Oyeyemi mentioned that the act is common among commercial motorcycle riders, who he said are always in the habit of attacking motorists involved in an accident with any of their members.
“Their usual practice is to set such vehicle ablaze regardless of whether their member is at fault or not, the PPRO revealed.
”The Command is hereby using this medium to warn that such unlawful behaviour will no longer be tolerated in any part of the state, and anybody caught in such dastardly act will be decisively dealt with in accordance with the dictate of the law.
While acknowledging the right of everybody to arrest criminal suspects, Oyeyemi explained that such arrested person should be handed over law enforcement agencies for proper investigation and prosecution.
He said it is an act of barbarism for anybody to apply jungle justice on suspects, no matter how weighty the allegation levelled against such a person may be.
Oyeyemi warned those in the primitive act to desist from it henceforth saying the command will leave no stone unturned to hunt down or anyone culpable of this act and bring same to justice.
“To be forewarned is to forearmed!” Oyeyemi stated emphatically.
December 14, 2020
Julius Berger embarks on CSR project in Bonny
Julius Berger Nigeria Plc, last Friday partnered Nigeria Liquified Natural Gas (LNLG) Limited, the nation’s gas production and management giant, to sign a Memorandum of Understanding (MOU)for the reconstruction of the historic but extinct Bonny Consulate Building.
The epoch-making event was signed at the Royal Palace of His Majesty, King Edward Asimini William Dappa Pepple III, CON, JP, Perekule XI, Amayanabo and Natural Ruler of the Ancient Grand Bonny Kingdom in Rivers State.
At the ceremony which was graciously hosted by the revered Bonny Monarch and was attended by a full compliment of the Kingdom’s Council of Chiefs ably led by the Chairman of the Council, a retired army colonel and highly respected community leader, Alabo Dagogo Wilcox, the GM, External Relations and Sustainable Development of the NLNG, Mrs Eyono Fatayi-Williams.
While Tobias Meletschus, the Executive Director, Corporate Development represented the Managing Director Engr. Dr. Lars Richter and led the company’s delegation to the ceremony, the multiple award-winning Gas production and management giant, the NLNG, was led to the ceremony by its MD, Tony Attah.
Tony Attah, used the occasion of the MoU signing ceremony to thank Julius Berger for its “steady partnership and for joining hands to bring this dream alive”,adding that there is a Bonny-Dubai Vision planned and intended “…to upscale the prominence of Bonny and make it a major investment destination, diversify its economy from reliance on oil and gas to other areas such as tourism,, create strong infrastructural base and improve the quality of life of its people”. Attah further said: “…the signing of the MoU marks the consolidation of the NLNG’s true partnership with Julius Berger and Bonny Kingdom”
Speaking for Engr. Dr Lars Richter the MD, Tobias Meletschus thanked the Management of NLNG for their serious and worthy commitment to the partnership with Julius Berger for the joint CSR project for which both companies signed the MoU in Bonny. Julius Berger, he said, considers it “a great pleasure to extend our cooperation with NLNG – by partnering to reconstruct the Bonny Consulate building as a gift to the Grand Bonny Kingdom.” Meletschus added that: “It is especially fitting for Julius Berger to participate in this CSR partnership, as 2020 marks our own 50^th Anniversary, which we have commemorated through a number of CSR activities across our project locations”. He further emphasised that Bonny Island has long been a key project location for Julius Berger, the company having first arrived for business on the Island over 20 years earlier, in the mid-1990’s, “as the first major contractor tasked to carry out infrastructural work for the NLNG plant … and have continuously been working on the Island and have reliably and successfully delivered a number of significant projects, no matter the challenge.”
Julius Berger, Tobias Meletschus said, remains confident that its history of serial good success and habitual reliability for project delivery is clearly headed for realisation once more in the ongoing project for the construction of the strategically important Bodo-Bonny Road, the first road link between Bonny Island and the the rest of the world. “This milestone infrastructure development project will go a long way towards the advancement of the Niger Delta and serve as a catalyst for the continued success of Bonny Island once completed”, he added.
Defining the Bonny Consulate Building as a project “woven into the history of the Ancient Grand Bonny Kingdom”, Meletschus said Julius Berger feels honoured to be partners for both the construction of both the Bodo-Bonny Road and the Bonny Consulate Building, adding that both projects would weave into the future of the Grand Bonny Kingdom “for the benefit of the Island and its communities”.
Meletschus on behalf of the management of Julius Berger, and specifically the Managing Director Engr. Dr. Lars Richter who regrettably could not be in Bonny for the ceremony, thanked the NLNG for their partnership and for their significant CSR contributions both for the funding of the Bodo-Bonny Road, and for the joint commitment towards community development through the reconstruction of the historical Bonny Consulate building.
Finally, Meletschus offered Julius Berger’s significant appreciation and thanks to His Royal Majesty, King Edward Asimini William Dappa Pepple III, CON, JP, Perekule XI, Amayanabo and Natural Ruler of the Ancient Grand Bonny Kingdom and the very good people of the Kingdom “for the continued trust and good cooperation over the many years.”
Earlier during the event, Alabo (Col.) Dagogo Wilcox, the Chairman of the Bonny Council of Chiefs in his remarks at the event, traced the history of the Bonny Consulate Building to between 1893 and 1894 when it was established by the British Government as the official court for the adjudication and resolution of disputes which arose from the commercial transactions in the then Oil Rivers Protectorate. A video presentation at the ceremony on the history of the building showed that it was officially dismantled in 1897 when the court of equity it housed was relocated to the new governmental administration headquarters in Port Harcourt.
Alabo Dagogo thanked both the NLNG and Julius Berger “for the companies’ major and voluntary corporate social responsibility initiative to reconstruct and restore the historical Bonny Consulate Building at its old site”, adding that “the worthy combined efforts and action by Julius Berger and the NLNG should encourage other corporate concerns in the Kingdom and the country in general to also meaningfully contribute in real developmental terms to their host communities”. Alabo Dagogo further celebrated the fact that “the signing of the MOU between these two commendably responsible corporate citizens, Julius Berger and the NLNG for the reconstruction and restoration of the Bonny Consulate Building will significantly restore the strategic status of Bonny as a world tourism destination”.
In his remarks at the MoU signing ceremony, the Bonny Monarch, His Majesty, King Edward Asimini William Dappa Pepple III, CON, JP, Perekule XI, commended both the Management of Julius Berger and the NLNG “for positively impacting the Kingdom in many ways of working fervently (with the Kingdom) to retain Bonny Kingdom’s status as a harbour of great value”. The King thanked Julius Berger for being a worthy partner, and assred the parties to the MoU a continued cordial relationship for the sustainable prosperity of both the Bonny Kingdom and businesses operating in the Island.
Prince Moses Duku, the Group head of the Media Relations Office and Engr. Ingo Edinger, Technical Manager also accompanied the Executive Director, Tobias Meletschus as part of the Julius Berger delegation for the MoU signing ceremony in Bonny Island.
December 14, 2020
FG suspend issuance of licences for operations of Free Trade Zones
The Federal Government has suspended issuance of licences for the operations of Free Trade Zones (FTZs) in the country.
The Minister of Industry, Trade and Investment, Chief Adeniyi Adebayo, announced this at the inauguration of the panel on the evaluation of the performance of FTZs, on Monday in Abuja.
A statement by the minister’s Special Assistant on Media, Ifedayo Sayo, quoted him as saying that all applications for FTZs licences would not be processed until the completion of the panel’s assignment.
Adebayo said that the key objective of the panel, headed by him, was to make recommendations that would inform government’s strategy on FTZs, based on thorough evaluation of their current operations.
He said that the panel would also work its other terms of reference to provide a clear and detailed report within eight weeks of inauguration.
According to him, the panel, which also has the Minister of State in the ministry, Mariam Katagum, as member, will map out clear strategies to evaluate the operations of the recipients of FTZs licences.
This, he said, would help in delivering world-class FTZs, as expected under the Presidential Priority Projects (PPP).
The minister noted that FTZs in the country had not performed to expectations, especially in terms of impacting positively on the industrial development of the country, as being witnessed in developed nations.
“It is important to note that FTZs in most developed countries have contributed successfully to their industrialisation process.
“The model was adopted by the Asian Tigers and today, most countries, including African countries, are beginning to key into the idea.
“Nigeria, through the Federal Ministry of Industry, Trade and Investment (FMITI), has begun delivery of world-class FTZs across the country.
“However, due to poor implementation, we have yet to take delivery of the dynamic potentials of FTZs as an instrument for economic growth,” he said.
According to Adebayo, Nigeria presently has 33 licensed FTZ operators, adding, however, that only 12 are operational due to poor implementation.
He said that currently, the performance of FTZ licencees had been below expectation, thus heavily impacting on government’s ability to deliver on crucial priority areas.
“FTZs are key to the nation’s push towards industrialisation. Globally, they account for 68 million jobs and generate 500 billion dollars annually.
“The sector can be extremely lucrative, if executed efficiently and we must aim to improve the operations of our zones,” the minister said.
December 14, 2020