Agriculture & Nigerian Economy
NESG Postpones its 26th Summit Indefinitely
The Nigerian Economic Summit Group (NESG) has announced the indefinite postponement of its 26th summit which was scheduled to hold on Oct. 26 and 27.
A statement from the board of directors of NESG, on thursday said that the postponement was necessitated by prevailing circumstances in the country.
“The 26th Nigerian Economic Summit is a big conversation for action with the theme “Building Partnerships for Resilience” to focus on key national issues especially as we continue to manage the impact of the COVID-19 global pandemic on Nigeria’s economy.
“In the past years, deliberations and outcomes of the Summit drove a national discourse.
“But holding this year’s Summit from Oct. 26 to 27 without taking adequate cognizance of recent developments across the country that have accentuated the need to amplify the voices of our youth for the reform of our institutions and improve governance will be insensitive and inappropriate.
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“It is against this background that, after due consultation between the NESG and the Federal Ministry of Finance, Budget and National Planning as co-hosts of the Summit, the 26th Nigerian Economic Summit has been postponed.
“A new date would be announced in due course. We regret the inconveniences to resource persons, participants, sponsors, the media, vendors, and the public.
“We believe that this is the right thing to do at this time,’’ it said.
“The NESG will deploy its convening and engagement capabilities to serve as a platform for driving issues affecting the Nigerian youth and ensure improved collaboration between our stakeholders.
“Finally, the NESG wishes to state that strong and transparent institutions determine the resilience of our economy and the effectiveness of our social justice system.
“Participation and effective engagement of our youth is crucial to the development and operation of our institutions, this is the only way to achieve the Nigeria of our dreams.’’
The Group commiserated with the nation and victims of recent violence across the country, urging the federal government to kick start a comprehensive reform of security institutions.
The Group also pledging its support to the authorities in resolving contending issues.
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Agriculture & Nigerian Economy
Nigeria’s Strategic Objective to Capture 10% Of Africa’s Import by 2035 – Achimugu
The Nigerian National Action Committee on the African Continental Free Trade Area, AfCFTA, has revealed that its strategic objective is to capture 10 per cent of Africa’s imports by 2035, thereby doubling Nigeria’s export in the process.
This was disclosed by the coordinator oil and gas work stream, secretariat of the National Action Committee on the AfCFTA, Franca Achimugu, at the implementation plan adoption meeting with the oil and gas work stream which was held at the Nigeria National Petroleum Corporation headquarters, in Abuja, on Thursday.
While introducing the agreement and what the oil and gas sector stands to benefit from its full implementation, she said, “AfCFTA means Nigeria is no longer Africa’s largest economy, we need to sit up and get our house in order.”
She added that Nigeria is aligning itself for agreements, which comes with the elimination of tariffs.
She also mentioned that Nigeria’s mission is to become the preferred provider of value-added services to Africa.
Recall that it was reported earlier this month that the AfCFTA secretariat and the African Export-Import Bank signed an agreement on the management of the base fund of the AfCFTA adjustment fund.
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Agriculture & Nigerian Economy
Fire Service Warns Against Domestic Storage of Petrol Amid Scarcity
The AG. Controller general, federal fire service (ffs), Karebo Pere samson has cautioned Nigerians against storage of premium motor spirits (PMS) popularly known as petrol in their homes during this period of scarcity.
Karebo said petrol is a highly inflammable liquid which if not handled carefully can cause serious fire explosion.
This was disclosed in a statement released by Abraham Paul the public relations officer of the services
Karebo explained that invariably there is always a risk of a fire outbreak or an explosion if there is a source of ignition nearby such as a naked flame or an electrical spark.
The ag controller general stressed that Nigerians should avoid any act which could lead to fire outbreak in their environment.
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Agriculture & Nigerian Economy
NNPC Ltd Commences Distribution Of 1Billion Litres Of Petrol Across Nigeria to Ease Fuel Crisis
The Nigerian national petroleum corporation limited has said that it has commenced the distribution of one billion litres of safe premium motor spirit to fuel stations across the country.
This was made known by group executive director, downstream, NNPC, Adetunji Adeyemi on Tuesday in Abuja during a press briefing.
He said in order to ensure smooth distribution of the PMS nationwide, NNPC constituted a monitoring team with the support of the Nigeria midstream and downstream petroleum authority and other security agencies.
Adeyemi stated that the NNPC commenced operations on Tuesday at its depots and retail outlets to aid with the distributions across the country and an additional 2.3 billion litres of PMS is expected to arrive in Nigeria before February ends in order to address the current situation and restore sufficiency above the 30-day national target
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