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

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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.

Aviation

United Nigeria Airlines finally apologises to passengers after NCAA lifts suspension

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United Nigeria Airlines finally apologises to passengers after NCAA lifts suspension

 

United Nigeria Airlines has apologised to its passengers taken to Asaba instead of Abuja lady week due to miscommunication between the crew and control tower.

The apology came after the Nigerian Civil Aviation Authority (NCAA) announced the lifting of suspension it imposed on operations of the airlines’ wet lease aircraft.

The NCAA made the announcement in a letter signed by Ibrahim Dambazau, its director of operations, licensing and training on Friday.

On Sunday, a United Nigeria Airlines aircraft which departed Muritala Muhammad International Airport, Lagos, en route to Abuja, diverted to Asaba, Delta State.

In its defence a few hours after the incident, United Nigeria said the flight was diverted to Asaba as a result of bad destination weather.

On Tuesday the NCAA began an investigation into the airline’s two wet lease aircraft resulting in a suspension of operations.

In its latest response in a statement, the airline apologised to the passengers for the experience and expressed their gratitude for their understanding during the period.

“We are pleased to announce the lifting of the suspension placed on our ‘Part G’ operations specifications which affected one of our aircraft,” the airline said.

“We want to express our deepest gratitude to you for keeping faith with us and for your understanding during this period.”

Providing the result of the investigation in the letter referenced NCAA/DOLT/UNA/Vol.02523, NCAA cited that the incident was due to a lack of “adequate liaison” between the lessor’s OCC (operation control centre) and lessee’s OCC which has also omitted appropriate flight briefing from the point of departure.

The authority also said there was non-adherence to the approved filed air traffic control (ATC) flight plan.

The authority also gave recommendations to the airline, adding that both cockpit and cabin crew should hold appropriate briefings before flight and procedures should be strictly adhered to by both the lessor and the lessee’s OCC.

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Auto

Updated: Jetour hits Nigerian market with affordable top-class SUVs

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Updated: Jetour hits Nigerian market with affordable top-class SUVs

 

The Nigerian automobile market has received a boost with the introduction of Jetour, a new brand from the Chery Holding Group, offering top-class affordable luxury vehicles.
The automaker says the brand was introduced in response to the market trend and consumers’ demand.
With the slogan ‘Drive Your Future’, Jetour focuses on the travel + market segment, and its products are mainly SUVs to satisfy users for better travel.
The brand which is now in the Nigerian market was launched globally in 2018 to provide practical travel solutions for more families and individual.
Its vehicles are uniquely designed with intelligent driving and energy-saving electric system.
Indeed, Jetour says its vehicles are produced from an intelligent factory that incorporates automation, intelligent customization, flexibility, scalability, and environmental conservation.
Jetour’s goal is also to provide excellent vehicles that demonstrate individuality for today’s young people.

Brand users
The brand is targeted at uncompromising group of individuals, unwilling to settle for mediocrity and are certain that brilliance is gained through action rather than waiting.

Jetour concept
Jetour is derived from Jet+Tour, which connotes “convenient tour”. This means that customers that work hard in many industries can finally enjoy the benefits of their wonderful and happy lifestyles.

Technical strength
The brand focuses on core new energy technologies, offering the latest comprehensive energy technology system; Battery Electric Vehicle (BEV) platform and the Plug-in Hybrid Electric Vehicle (PHEV) platform.
With technologies such as intelligent driving, intelligent network connection, Vehicle-to-Everything (V2X), its products are sold to many nations globally.
The core technologies of new energy electric vehicles such as battery, motor, electronic control, and vehicle controller have been independently applied to the different platform models.

Engine
The automaker says its vehicles are powered by one of China’s top ten engines. Jetour is the first Chinese brand with 1.6TGDI turbo-charged engine.
It is also considered the first Chinese brand with direct injection gasoline (petrol) engine that meets China VI emission regulations.
The brand comes with the industry’s top power, the strongest Chinese brand. It enjoys the Kunpeng Power 2.0TGD1, Golden Power Portfolio, 7DCT, Strong power 187KW, 390N.m and 100 km/h acceleration < 8 seconds.
Jetour says, “More than 1,000 people worked on the Kunpeng Power 2.0TGDI engine, which is based on Chery’s 23 years of positive engine development skill, a solid product development system, and an advanced verification system that relies on three main Research and Development (R&D) facilities in Europe and China (Wuhu, Shanghai).”
The team’s five advantages are super energy, ultra-clean, ultra-quiet, ultra-solid, and ultra-light, which took 48 months to develop.
It has a maximum power output of 187kW and a maximum torque output of 390N m, and the power reserve is comparable to one 3SL V6 engine.

Quality Control
The automaker has four main test locations, and the vehicles undergo 2,000,000km of rigorous verification to ensure industry-leading quality.

Global layout
Jetour has a worldwide development strategy and development vision, and its vehicles are exported to many nations globally.
The models available in the Nigerian market are X70 – Liberty; X70 Plus – Elegance; X90 Plus – Cruise and Dashing.

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Auto

LCCI faults Customs frequent reviews of import duties

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LCCI faults Customs frequent reviews of import duties

…suggests measures to stimulate auto industry growth

 

President of the Lagos Chamber of Commerce and Industry, Dr. Michael Olawale-Cole, says government’s policy inconsistency is stunting the growth of automotive industry in Nigeria.
He particularly faulted frequent reviews of import duties by the Nigeria Custom Services (NCS).
Olawale-Cole spoke through his deputy Gabriel Idahosa in Lagos on Thursday along with key players in the Nigerian auto industry at a symposium organised by the LCCI Auto and Allied Group under the theme ‘The Auto & Allied Sector: Present Day Realities in Nigeria’.
The Chairman of CIG Motor, Chief Diana Chen; General Manager of Suzuki By CFAO, Aissatou Diouf; Executive Director at Truckmaster Nigeria, Dr. Oseme Oigiagbe, and Mandela Oniemola, were other key speakers at the forum.
Olawale-Cole kicked against the Customs use of spot exchange rate to compute import duties.
He said, “The decline recorded in third quarter is a testament of automobile industry reactions to policy inconsistency, that is amplified by frequent reviews of import duties by the Nigeria Custom Services (NCS).”
He also noted that the twin effect of subsidy removal and exchange rates harmonization had impacted the industry with inconsequential gains and huge loss to the stakeholders.
He said, “If the government is not swift in stabilising exchange rate, investors may be discouraged, and domestic producers will be sceptical about mass production of vehicles that is perceived costly.
“It is important to note that the MDAs, especially the Nigeria Customs (NCS) should not use spot exchange rate as the basis for computing import duties in order to avert uncertainty and minimise the consequences of information asymmetric among stakeholders in the industry.
“However, computation that is based on last month average exchange rate could be a more reliable methodology among others. This approach will allow stakeholders to anticipate and estimate the cost of import duties that is void of misinformation, and frequent adjustment by the NCS.”
He urged the government to work with the private sector players to develop policies that promote and reduce the cost of local production as well as “encourage innovation and competitiveness to ensure the growth and sustainability of the automotive industry.
“The Federal Government, and the Nigerian Investment Promotion Council (NIPC) should collaborate with the private stakeholders to encourage investments in the industry.”
He called for the establishment of an automated banking system and a resilient local manufacturing sector.
“The sector should prioritize the use of quality-controlled, domestically manufactured parts and components, together with a skilled workforce of specialists capable of supporting investments in manufacturing and assembly,” he said.
Chairman, Automobile and Allied Services Group at LCCI, Otunba Adekunle Jaiyesimi, spoke on the significant role of the automotive industry to the nation’s economy.

“From manufacturing and distribution to maintenance and repair services, it contributes to employment, revenue, and technological advancement,” he stated
Jaiyesimi listed the challenges and opportunities in the sector as technological advancements; sustainability and environmental issues; supply chain disruptions and government policies and regulation.

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