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‘Nigeria’ll engage relevant people to make Okonjo-Iweala WTO MD’

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The Federal Government has said it will ensure that Nigeria’s former Finance Minister, Dr Ngozi Okonjo-Iweala, emerges as the Director-General of the World Trade Organisation by engaging relevant stakeholders.

The Ministry of Foreign Affairs said this in a statement on Thursday. It was signed by the spokesperson for the ministry, Ferdinand Nwonye.

“Nigeria will continue to engage relevant stakeholders to ensure that the lofty aspiration of her candidate to lead the World Trade Organisation is realised,” it stated.

The ministry noted that the former Managing Director of the World Bank had secured the support of the majority of the WTO members with only the United States opposing her.

It stated that a meeting of the General Council of the WTO had been scheduled for November 9, 2020, for the final decision on the election process.

It said, “The Ministry of Foreign Affairs wishes to inform that the third and final round of the selection process of the Director-General of the World Trade Organization was concluded on Tuesday, 27th October 2020, and the result was formally announced on Wednesday, 28th October 2020.

“The candidate from Nigeria, Dr Ngozi Okonjo-Iweala has secured the support of the majority of the member countries but is yet to be declared and returned the winner.

“This is because apart from winning the election, all the 164 Member States of WTO were expected to adopt the winner by consensus, in accordance with the rule of procedure of the WTO.

“It is important to highlight that Dr Okonjo-Iweala has secured cross-regional backing with only the United States opposing the consensus.”

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NURTW moves against highway crime, adopts vehicle e-tracking

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The National Union of Road Transport Workers says it will track members’ vehicles electronically as a way to address the spate of kidnapping and insecurity on expressways.

The union, during the National Executive Council meeting in Osogbo, Osun State capital, said it was imperative for them to use electronic tracking device in curbing the menace of kidnapping and insecurity on expressways in the country.

President of the union, Alhaji Tajudeen Baruwa, said the NURTW had lost many members to banditry while many were kidnapped.

He said, “We have resolved to use tracking to monitor our members’ vehicles. This will help us to alert our members of impending dangers.

“We admonish our members to be security conscious; the issue of insecurity in the country is worrisome. Many times our members are been kidnapped across the country, we have lost many members as a result of insecurity and there is no compensation from the government. So we really need to be careful and vigilant when we are on the steering. E-tracking will help passengers and our members after we put it to use”.

Baruwa thanked members for their support and confidence in his administration.

He said the administration was faced with serious financial challenges and the emergence of the COVID19 affected their revenue, adding that it was a miracle to have survived the devastating effects of the lockdown.

 

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EFCC arrests, grills ex-Imo governor, Okorocha

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The Economic and Financial Crimes Commission has arrested former Imo State governor, Rochas Okorocha.

He was arrested in Abuja and was later questioned by the EFCC over issues bothering on alleged corruption.

Okorocha, currently representing Imo West at the Senate, was grilled at the EFCC Abuja office on Tuesday.

EFCC spokesman, Wilson Uwujaren, confirmed the development but did not give further details.

 “It is true, he was arrested today in Abuja but we are not giving details,” he said.

Okorocha had been accused by the Imo government of looting the state’s treasury through various malpractices.

He was in February arrested by police from the Imo State Command for allegedly unsealing Spring Palm Estate linked to his wife, Nkechi.

Okorocha was later released but about 14 of his loyalists are being tried.

The Imo State Government had sealed the Spring Palm Estate and other properties claimed to have been “diverted” by Okorocha and his family members.

But the Senator said the properties were legitimately by him and his family members.

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NBS: Used vehicles, motorbikes, PMS top Nigeria’s imports

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Used vehicles, motorcycles, premium motor spirit, popularly called petrol, and antibiotics were the major products imported by Nigerians from India, Spain, the Netherlands, United States and China in the fourth quarter of 2020, the National Bureau of Statistics has said.

The bureau stated this in its just released Commodity Price Indices and Terms of Trade Q4 2020, according to a Punch report.

It also stated that the major commodities exported from Nigeria to the five nations were crude oil and natural gas.

The NBS said, “The major export and import market of Nigeria in Q4 2020 were India, Spain, the Netherlands, United States and China.

“The major exports to these countries were crude petroleum and natural gas. The major imports from the countries were petroleum motor spirit, used vehicles, motorcycles and antibiotics.”

The bureau stated that the all-commodity group import index increased by 0.13 per cent between October and December 2020.

“This was driven mainly by an increase in the prices of base metals and articles of base metals (one per cent), boilers, machinery and appliances; parts thereof (1.03 per cent), and products of the chemical and allied industries (0.75 per cent),” it stated.

According to worldstopexports.com, Nigeria imported about half (49.6 per cent) of its imported goods by value from Asia in 2019; another 30 per cent from suppliers in Europe with 11.2 per cent arriving from North America.

Smaller percentages were said to come from fellow African nations (6.5 per cent), Latin America (2.3 per cent) excluding Mexico but including the Caribbean, then Oceania (0.3 per cent) led by New Zealand and Australia.

Given Nigeria’s population of 201 million people, its total $47.4 billion in 2019 imports translated to about $240 in yearly product demand from every person in the West African region country.

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