News
Russia/Ukraine war: FG plans new trade policy with former USSR nations
The Federal Government has said following the war between Russia and Ukraine, it is working on a new trade policy with countries in the former Union of Soviet Socialist Republics (USSR) with whom it shares important mutual trade relations.
Minister of Industry, Trade and Investments, Niyi Adebayo, disclosed this, yesterday, at the weekly inter-ministerial press briefing organised by the Presidential Communications Team at the Presidential Villa, Abuja.
He said the trade department of his ministry had been mandated to analyse the crisis in the region as its concerns trade relations with Nigeria and come up with a report.
“Once that report is ready, I will present it to the president, after presenting to the president, I will come here to brief you about it,” he said.
A recent report relying on data from the National Bureau of Statistics (NBS) warned of the impact of the war on Nigeria as it showed that since 2019, Nigeria has received a total of $84.3million in capital imports from Russia.
The country also imported N144billion ($346.2million) worth of durum wheat in 2020 and N123.9billion ($297.8million) worth of durum wheat between January – September 2021 from Russia.
It also imports different types of seafood such as mackerel, herrings and blue whiting from Russia.
READ ALSO:
- APC Crisis: Buni makes U-turn, endorses ‘all’ actions undertaken by Bello
- Adamawa ‘chemists’ inject man to death, steal motorcycle
- Hold your institution responsible for your admission letter,JAMB tells students
According to the NBS data, Nigeria similarly imported milk worth N721.5m ($1.7m) from Ukraine in 2021.
Adebayo, who made presentations on the Presidential Sugar Backward Integration Program (BIP) said Nigeria targets self-sufficiency in sugar production in the next 10 years, even as it plans to begin the export of the commodity.
He said about five per cent of sugar consumed in Nigeria was produced locally.
“We believe with the programmes that we have in place that within the next 10 years, we will be 100 per cent self-sufficient in sugar, and not only that, we’ll be able to export sugar produced in Nigeria,” he said.
Adebayo, also spoke on ports decongestion in Nigeria, saying new ports would soon come on board to ease the pressure on Apapa and Tincan ports in Lagos.
“On the development of ports, I pointed out earlier that yes, apart from Apapa and Tincan; we have a new port of Lekki coming up. I know that there are plans for a new port to come up in Badagry.Calabar port is a problem; apparently there is a court case on that one at the moment with regards to a subcontract for the dredging of that as well. As we all know, Port Harcourt and Onne are operating, and the government is looking at improving the road network to that port so that it can ease the congestion of Lagos,” he said.
On clearing challenges importers grapple with at the seaports and how such challenges are stifling ease of doing business in Nigeria, the minister said plans are underway to keep the ports open for 24 hours, seven days a week.
SUN
News
I’m alive, Obasanjo reacts to death rumour
I’m alive, Obasanjo reacts to death rumour
Former President, Olusegun Obasanjo, has said he is alive, hale and hearty.
He stated this in reaction to rumours of his death being reportedly spread on some social media platforms.
He spoke in Osogbo, Osun State, during the inauguration of the Old-Garage/Oke-Fia Road reconstructed by Governor Ademola Adeleke.
Obasanjo said those who wanted him dead were spreading the rumour of his death on the social media.
He said, “I heard the rumour that I was dead. I saw it on the social media. I quickly told my children and my relations that it was not true and that I’m alive.
“Those that want me dead, that is their wish, but God still keeps me alive.”
Obasanjo praised Adeleke for his performance in Osun and charged the governor to keep up the work.
Governor Adeleke assured the people of the state that his administration would complete all the ongoing projects.
“My dear people of Osun State, our administration has constructed over 120 kilometres of roads across the state.
“Two major flyovers are also progressing to completion at Osogbo while work is progressing at the Ile Ife Flyover and Ilesa dualisation.”
News
Tinubu jets out to France on three-day visit
Tinubu jets out to France on three-day visit
President Bola Tinubu will travel to France today (Wednesday) for a three-day state visit at the instance of the French president.
A statement issued by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, confirmed this.
It said, “The Nigerian leader’s three-day visit, which will focus on strengthening political, economic, and cultural relations and establishing more opportunities for partnership, particularly in agriculture, security, education, health, youth engagement and employment, innovation, and energy transition, promises significant benefits for Nigeria.”
Onanuga said Tinubu and Macron would harmonise positions on stimulating more interest in exchange programmes that focus on skill development for youths and improving their competencies in automation, entrepreneurship, innovation, and leadership.
“Both leaders will participate in political and diplomatic meetings highlighting shared values on finance, solid minerals, trade and investments, and communication,” he added.
“They will also witness a session by the France-Nigeria Business Council, which oversees private sector participation in economic development.”
The presidential adviser stated that the Nigerian first lady and her French counterpart would discuss solutions for empowering women, children, and the most vulnerable through the Renewed Hope initiative.
News
Yahaya Bello reports to EFCC office with lawyers
Yahaya Bello reports to EFCC office with lawyers
A former Governor of Kogi State, Yahaya Bello, on Tuesday visited the Economic and Financial Crimes Commission (EFCC) to honour another invitation extended to him over alleged misappropriation of funds.
Bello went to the anti-graft office with his lawyers in the morning.
The ex-Kogi governor reportedly drove himself to the EFCC’s office in a black Toyota Hilux van with some lawyers.
He was said to have been taken by some operatives of the agency and are currently being grilled.
This is coming after the Supreme Court judgment which dismissed a suit brought by some state governments challenging the constitutionality of the agency.
The EFCC at the last hearing on November 14, sought the adjournment till November 27 in the fresh case it instituted against Bello.
It stated that the 30-day window was still running for the summons earlier issued.
-
metro1 day ago
BREAKING: Port Harcourt refinery begins operation
-
Sports1 day ago
French football star, Paul Pogba’s blackmail trial begin in Paris
-
Politics2 days ago
Lagos 2027: Seyi Tinubu campaign team releases his life documentary
-
Entertainment2 days ago
Polygamy best form of marriage for Africa – Okey Bakassi
-
metro2 days ago
40-foot container falls on car in Lagos
-
International2 days ago
Trump to sack 15,000 transgender officers from U.S. military: Report
-
Education1 day ago
US University opens 2025 scholarships for international students
-
News1 day ago
Yahaya Bello reports to EFCC office with lawyers