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FG, NEPZA To Boost FTZS Competitiveness Through AFCFTA

Published

6 days ago

February 22, 2021

Onyebuchi Aniekeyi

FG, NEPZA To Boost FTZS Competitiveness Through AFCFTA

The Nigeria Export Processing Zones Authority (NEPZA) says the Federal Government and the authority will leverage on the African Continental Free Trade Area (AFCTA) to boost the country’s trade competitiveness.
Prof. Adesoji Adesugba, the Managing Director of NEPZA made the remark while guiding the Minister of Trade, Industry and Investment, Otunba Adeniyi Adebayo on an inspection tour of the Kano Free Trade Zone (KFTZ) on Friday, in Kano.
Adesugba, in a statement by Martins Odeh, Head, Corporate Communications, NEPZA reiterated that the AfCFTA presented the country with an exceptional lifeline to reboot the economy.
He added that there was no better time than now to take advantage of the lofty opportunities provided by the agreement for countries in Africa to seamlessly trade among themselves.

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According to him, all enterprises operating in the country’s 44 zones were being galvanised to use the trade agreement which commenced Jan. 1 to stay competitive and relevant.
“The visit of the minister to the Kano zone is a pointer to Federal Government’s desire to use the zone as a gateway to swiftly revamp the economy.
“The recent approval of N35.4 billion by Federal Government for improvement of electricity infrastructure in both Kano and Calabar FTZs remains a stride that shows President Muhammadu Buhari’s confidence in the scheme’s ability to fast track the country’s industrialisation.
“The authority remains grateful to both the president and the minister for this great feat. As can be seen, the Kano FTZ remains viable in spite of the power challenge,’’ he said.
However, Adesugba re-echoed the challenge of accessing foreign exchange faced by operators in the zones as a result of absence of offshore banking.
He added that it was high time the Central Bank of Nigeria (CBN) accelerated the approval.
“We are in touch with the CBN committee saddled with the responsibility of ensuring that the off-shore banking is in place.
“But we are, however, soliciting the intervention of the minister for approval to be given without further delay,’’ Adesugba said.
The minister had described the Kano FTZ as one of the flagships of the country’s free zone scheme which NEPZA had done a lot to keep its operations going.
He added that the authority must be supported to carry out its mandate effectively.
Adebayo also explained that the Federal Government was committed to repositioning the scheme to become attractive, profitable and competitive in order to maximally draw from the benefits accruable from AFCTA.
On the planned concession of the Kano and Calablar zones, the minister urged investors and operators in the two public zones not to fret.
According to him, their interests would be protected during the negotiation of the two deals.

Newsroom

Oil Spill Shuts Down Fishing In 10 Delta Communities

Published

3 hours ago

February 28, 2021

Onyebuchi Aniekeyi

A devastating oil blowout has grounded fishing occupation at over 10 oil communities in Gbaramatu Kingdom, Warri South-West Local Government Area in Delta State.
Some of the affected communities were Benikrukru, Kokodiagbene, Oporoza, Azama, Inikorogha and Kurutie and the leak was reportedly, at the weekend, spreading to more communities in the area.
Thousands of fishermen in the communities, their families and buyers from different from different parts of the state and beyond have been stranded as a result of the spill.

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Villagers, who spoke, complained that there was palpable fear in the affected communities, as some people have falling sick due to pollution of bodies of rivers which are major sources of water supply to the people.
One of them, therefore, called on concerned stakeholders to live up to expectations by engaging the affected communities, rather than staying mute and denying its involvement in the spill.

Newsroom

Ikeja Electric Schedules All Customers For Metering Under National Mass Metering Programme

Published

3 hours ago

February 28, 2021

Onyebuchi Aniekeyi

Ikeja Electric Schedules All Customers For Metering Under National Mass Metering Programme

Ikeja Electric (IE) Plc says all unmetered customers under its business unit, have now been scheduled for metering under the National Mass Metering Programme (NMMP).
Mr Felix Ofulue, Head, Corporate Communications, IE, confirmed the development in a statement issued to newsmen on Sunday in Lagos.

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According to Ofulue, a total of 106,000 customers of the electricity Distribution Company, would be installed with free prepaid meters, under the first phase of the NMMP.
He, however, advised customers not to make any payment to Meter Assets Providers (MAP) installers, or IE staff, during the field survey and meter installation.
Reports show that the Federal Government had on Oct. 30, 2020, flagged off the NMMP.
The programme is aimed at meeting the target of closing the metering gap in the Nigerian Electricity Supply Industry, by December 2021.
It would assist in reducing collection losses, while at the same time, increase financial flows, to achieve 100 per cent market remittance obligation of the DisCos.
Part of the objectives also include the elimination of arbitrary estimated billing, improving network monitoring capability and provision of data for market administration and investment decision-making.

Newsroom

Pope Condemns Mass Abduction Of Nigeria Schoolgirls

Published

3 hours ago

February 28, 2021

Onyebuchi Aniekeyi

Pope Condemns Mass Abduction Of Nigeria Schoolgirls

Pope Francis condemned on Sunday the kidnapping of more than 300 schoolgirls in Nigeria last week as “vile”.
“I join the bishops of Nigeria in condemning this vile abduction of 317 young girls,” the pope said following his weekly Sunday Angelus address to the Catholic faithful on Saint Peter’s Square in the Vatican.
Several hundred girls are still missing after a raid by suspected armed bandits on a school hostel on Friday in Zamfara, northwest Nigeria.

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Heavily armed criminal gangs in northwest and central Nigeria have stepped up attacks in recent years, kidnapping for ransom, raping and pillaging.
Suspected Bandits in the northeast had previously shocked the world by snatching hundreds of girls from their schools, as part of an attack on supposedly western education practices.