Nigeria's economy can’t survive second lockdown, MAN, LCCI warn - Newstrends
Connect with us

Business

Nigeria’s economy can’t survive second lockdown, MAN, LCCI warn

Published

on

The Manufacturers’ Association of Nigeria, the Lagos Chamber of Commerce and Industry and other economic groups have said Nigeria’s economy is still fragile and cannot survive another lockdown.

They stated this in separate interviews against the reported ride in COVID-19 cases in the country, just as some states including Lago and Kaduna have threatened to shut down their public spaces and the economies if people continued to ignore the recommended guidelines against the virus spread.

Nigeria’s economy slipped back into recession after its gross domestic product contracted for the second consecutive quarter, according to data released by the National Bureau of Statistics in November.

The Federal Government imposed lockdown in Lagos and Ogun states as well as the Federal Capital Territory in April this year.

The phase three of the lockdown, which was extended to other parts of the country, ended in September.

But there have been concerns about the increasing coronavirus cases with at least 26 generals and the Lagos State Governor, Babajide Sanwolu, testing positive for the virus. The Nigerian Army had also said a general, Olu Irefin, died of the virus.

The Director-General of the LCCI, Dr Muda Yusuf, in an interview with The PUNCH, said a second lockdown was not wise considering the current state of the economy.

He stated,  “A second lockdown is not advisable.  The social and economic environment is too tense and fragile to withstand the shock of another lockdown. What needs to happen is to intensify the sensitisation and awareness of COVID-19 protocols.  Some subtle enforcement should also be put in place.”

Also, the acting Director-General of MAN, Ambrose Oruche, said the state of health of Nigerians was of paramount importance and the spread of the coronavirus should be prevented.

He, however, noted that it was not advisable for the government to introduce a complete lockdown considering the fragile state of the economy and the need for people to earn a living.

He advised the government to ban large gatherings and enforce the Nigeria Centre for Disease Control protocols like the wearing of facemasks, regular hand washing and observing of social distancing.

President, Nigeria-Malaysia Business Council, Michael Aderohunmu, said it would be counterproductive to lock down the nation’s economy again.

He said, “We are talking about productivity, humans produce and consumed products. You can see the last effect of the lockdown on the economy. Consumption crashed and most products were short in the markets.

“So humans should not be locked down again, rather massive advocacy should be done. If people don’t go to work again, the effect will be devastating on production, consumption and the economy.”

The National Vice President, Nigeria Association of Chambers of Commerce, Industry, Mines and Agriculture, who doubles as the President, Petroleum Products Retail Outlets Owners Association of Nigeria, Billy Gillis-Harry, stated that a lockdown would not mean well for production in Nigeria.

Loading

Auto

Toyota moves to ease vehicle ownership amid economic challenges

Published

on

Managing Director of Toyota Nigeria Limited, Mr. Kunle Ade-Ojo; Chairman of TNL, Chief Michael Ade.Ojo, and MD/CEO, AGL Motors Ltd, Alhaji AbdulAfeez Gabar Lado, at the presentation of the 2025 best customer award to AGL Motors in Lagos.

Toyota Nigeria unveils plans to ease vehicle ownership

As rising costs put car ownership beyond the reach of many Nigerians, Toyota Nigeria Limited says it is rolling out fresh measures to make buying and maintaining vehicles easier for customers.

Managing Director, Mr. Kunle Ade-Ojo, announced the plans at the company’s 2026 Awards and Customers’ Night in Lagos, where he reaffirmed Toyota’s commitment to expanding mobility solutions in the country.

A statement on Thursday quoted Ade-Ojo as saying Toyota Nigeria would continue to innovate and introduce strategies that would enable more Nigerians to own and maintain Toyota vehicles while enjoying quality after-sales support.

According to him, the company’s commitment goes beyond selling vehicles to ensuring customers enjoy a seamless ownership experience through a robust nationwide service network.

“We will continue to innovate, adapt and elevate our product offerings and service delivery. Our ambition remains clear: to sustain industry leadership while contributing meaningfully to Nigeria’s economic development as a responsible corporate citizen,” he said.

He added that the company’s future plans are aligned with Toyota’s global vision of enriching lives through mobility, with a strong focus on innovation, sustainability and value creation.

READ ALSO:

Ade-Ojo noted that Toyota Nigeria’s success over the years had been driven by the loyalty of customers, support from dealers, suppliers, employees, financial institutions and strategic partners, as well as the guidance of the company’s board led by its founder and chairman, Chief Michael Ade-Ojo.

The highlight of the event was the presentation of the Evergreen Customer of the Year Award to Zenith Bank Plc, which retained the title as Toyota Nigeria’s highest-volume customer for 2025. In recognition of the achievement, Chief Michael Ade-Ojo presented the bank with the keys to a brand-new Toyota Starlet Cross.

AGL Motors emerged overall winner in the Customer of the Year category, while the Nigerian Army and Zenith Bank were named first and second runners-up respectively. The winners received office equipment valued at several millions of naira.

Toyota Nigeria also honoured excellence in automotive journalism. Theodore Opara of Vanguard was named Journalist of the Year, while Mike Ochonma of Transport World and Rasheed Bisiriyu of Newstrends received awards for their contributions to automotive reporting, mobility advocacy and industry analysis.

Speaking at the event, several dealers and business partners commended Toyota Nigeria’s investments in dealer development, technical training and workshop upgrades, describing the initiatives as critical to sustaining high service standards and customer satisfaction across the country.

 

Toyota Nigeria unveils plans to ease vehicle ownership

Loading

Continue Reading

Railway

Warri-Itakpe Train Crash: Full Manifest Retrieved, FG, NRC Condole Families of Five Dead

Published

on

Warri-Itakpe Train Crash: Full Manifest Retrieved, FG, NRC Condole Families of Five Dead

 

The Federal Ministry of Transportation and the Nigerian Railway Corporation (NRC) have said the full manifest of passengers and crew members aboard the ill-fated Warri–Itakpe train has been retrieved, even as they extended condolences to the families of the five persons who lost their lives in Monday’s accident near Agbor, Delta State.

In a joint update on the incident, the ministry and the NRC said efforts were ongoing to identify all injured passengers and deceased victims for proper documentation, while assuring that relevant authorities would have access to the complete onboard manifest.

The agencies confirmed that five persons — four adults and a baby — died when four coaches of the Warri–Itakpe Train Service (WITS) capsized and another derailed along the corridor. They added that 24 passengers sustained serious injuries, while several others suffered varying degrees of injuries and are receiving medical treatment.

According to the statement signed by the Permanent Secretary of the Federal Ministry of Transportation, Engr. Funsho Adebiyi, a total of 442 passengers had booked for the journey, while 40 crew members, security personnel and third-party service providers were on board, bringing the total number of persons on the train to 482.

The ministry said rescue and evacuation operations were immediately activated following the accident, with support from the Delta State Government, the National Emergency Management Agency (NEMA), the Federal Road Safety Corps (FRSC), the Police, Civil Defence, local authorities and other emergency responders.

The rescue efforts, which were completed by 6:30 p.m., also received assistance from the Senator representing Delta Central Senatorial District, Senator Ede Dafinone, and former Delta State Secretary to the State Government, Patrick Ukah.

The ministry and the NRC expressed their deepest sympathies to the families of the deceased and prayed for the speedy recovery of those injured in the accident.

They also commended the Delta State Government, emergency response agencies, security operatives, medical personnel, the NRC Mechanical Directorate and the corporation’s special rescue and emergency team for their swift intervention.

The statement added that a full investigation into the cause of the accident had commenced, assuring that authorities would continue to account for all passengers and provide necessary support to those affected by the tragedy.

Loading

Continue Reading

Aviation

Keyamo Orders Probe, Grounds Aircraft After Unauthorized Landing on Asaba Road

Published

on

Keyamo Orders Probe, Grounds Aircraft After Unauthorized Landing on Asaba Road
Minister of Aviation and Aerospace Development, Festus Keyamo

Keyamo Orders Probe, Grounds Aircraft After Unauthorized Landing on Asaba Road

The Federal Government has grounded a private aircraft and suspended its operator’s permit following a dramatic incident in which the aircraft made an emergency landing on a road under construction near Asaba and later departed without regulatory clearance.

Minister of Aviation and Aerospace Development, Festus Keyamo, disclosed the development in a statement posted on his X account, describing the incident as a serious breach of aviation regulations and security protocols.

According to Keyamo, the aircraft carried out a missed approach while attempting to land at Asaba Airport at about 7:43 a.m. local time on Wednesday, June 10, 2026, before diverting and landing on a concrete road under construction in the Ogwashi-Uku area of Delta State. He said eyewitness reports confirmed that all four crew members on board safely exited the aircraft and were later transported to Asaba by road, with no injuries recorded. A short video that surfaced online showed the aircraft stationary on the concrete road before taxiing along the road being reconstructed and taking off.

Keyamo expressed concern over the aircraft’s subsequent departure from the scene at about 11:02 GMT (12:02 p.m. local time) without obtaining the required regulatory approval. He said Air Traffic Control was only notified after the aircraft had already taken off, noting that the aircraft had no clearance for departure. “In other words, the aircraft had no clearance to take off again,” he said. The Nigerian Civil Aviation Authority (NCAA) , in a statement signed by its Director of Public Affairs and Consumer Protection, Michael Achimugu, confirmed that the action constituted a violation of the Nigeria Civil Aviation Regulations (Nig. CARs) and is currently under investigation.

READ ALSO:

Following the incident, the NCAA immediately grounded the aircraft upon its arrival in Lagos, pending the outcome of investigations. The Authority also placed the flight crew under regulatory review while inquiries continue into both the initial occurrence and the unauthorised departure. As part of enforcement actions, the NCAA suspended the operator’s Permit for Non-Commercial Flight (PNCF) and ordered a comprehensive audit of its operational, maintenance, airworthiness, and flight records. “The NCAA will take further enforcement action in accordance with applicable aviation regulations,” Keyamo stated. The regulator has formally notified the Nigerian Safety Investigation Bureau (NSIB) of the occurrence and is coordinating with relevant aviation stakeholders, including the aircraft operator and the Nigerian Airspace Management Agency (NAMA) , to establish the full circumstances of the incident.

Keyamo confirmed that security agencies had taken custody of the crew members for questioning as part of ongoing investigations. “I have also spoken to relevant security agencies and I have been assured that the crew are in their custody and they are assisting them with their investigation,” the minister said.

Authorities say the incident will be thoroughly reviewed to prevent future breaches of aviation safety and regulatory procedures. The NCAA reiterated its commitment to maintaining the highest standards of aviation safety, security, and regulatory compliance within the Nigerian aviation sector. “No individual or operator, irrespective of status, will be permitted to circumvent established aviation procedures designed to safeguard lives and maintain the integrity of Nigeria’s airspace system,” the ministry stated.

Keyamo Orders Probe, Grounds Aircraft After Unauthorized Landing on Asaba Road

Loading

Continue Reading

Trending