Connect with us

Editorial

Building vitalising framework around 62.37% non-oil sector H1 Y2022 growth performance

Published

on

Growing Nigeria’s non-oil sectors has remained a call with justifiable variables as the pragmatic solution to the wobbles of the Nigerian economy, which recently has reflected the weaknesses of fatigue from the over-reliance on oil as its mainstay.  The oil predomination of the Nigerian economy and the reliance on same, forming the mainstay of the economy, has most recently manifested the danger of such monocultural predominance.

The necessity for diversification has been one resounding call which has been put forward as the panacea to address the wobbling strains of the economy. While the government has acknowledged the fact in view of the prevailing realities, it is however unsatisfactory the level of commitment posed on the drive towards the quest to a formidable diversification of the economy.

Although, reports recently have shown rising records in the performances of some non-oil sectors, yet the value of such remain infinitesimal to the level of output desirable to have formidable deliverables from the non-oil sectors, upon which the economy can spread its base.

Recently, the Federal Government disclosed that the Nigeria’s non-oil sector recorded some growth as it exported products worth $2.593 billion in the first half of 2022. Data from the Nigerian Export Promotion Council (NEPC) show that this represents a 62.37 per cent increase from the $1.59 billion value exported within the same period in 2021. Executive Director of NEPC, Dr Ezra Yakusak at the presentation of the First Half Year Progress Report 2022 in Abuja, had said the Country’s non-oil export sector recorded a significant growth, as about 4.15 million metric tons of products were exported during the period, in spite of the global economic recession that affected most businesses in 2021. He had also said 572 companies participated in exporting Nigerian products during the half-year period. The NEPC boss added that during the period under review, different Nigerian products were exported to 112 countries, adding that of the 15 top exported products, urea/fertiliser recorded 32.49 per cent of total exports while cocoa beans, sesame seed, and aluminum ingots contributed 12.65 per cent, 7 per cent and 5.07 per cent, respectively, within the period under review.

On the measures employed to boost the value of Nigeria’s non-oil exports, he mentioned that to facilitate the ease of doing business and seamless documentation processes, the council, during the first half of 2022, registered 2,000 companies under its fully automated online registration platform. He said, “I am also elated to inform you that processing time for applications is now 24 hours while 17.3 per cent of applicants were recorded to be women-owned businesses (WOB). The South-west recorded the highest figure of exporters’ registration of 851, while the North-central came second with 417 registered exporters. We have also commenced training and re-training of our personnel. This is intended to close identified skill gaps and improve capabilities/knowledge of employees for optimum output. This is germane considering our current efforts/campaign for massive investment in non-oil export. I am optimistic that our vision to make the world a marketplace for Nigerian non-Oil export is not just lip service but a commitment to the people of Nigeria. This commitment is borne out of the desire to build a prosperous future for our people through diversification of the Nigerian economy by increasing the basket of exportable products from Nigeria.”

Stating that the pre-shipment inspection data showed that half-year non-oil export performance was the highest since 2018, he disclosed that the Federal Executive Council (FEC) approved N375 billion to settle the backlog of claims for 285 beneficiaries under the Export Expansion Grant (EEG) Scheme. Insisting that the Country’s survival largely depended on its ability to boost non-oil exports, Yakusak maintained that the current devaluation challenges facing the local currency, Naira, could be simply resolved by strengthening non-oil exports in order to earn foreign exchange to beef up the external reserves.

While such measures as NEPC’s “Export4Survival” initiative has been in view, more is certainly needed as this all on its own is insufficient to drive a diversification revolution for a fortified virile economy.  The Export4Survival campaign, which was unveiled by the council in February, is a strategic initiative to increase awareness of opportunities in the sector and to highlight the benefits of exporting Nigerian goods and services to the overall growth of the Gross Domestic Product (GDP). Encouraging value addition to raw material exports to earn foreign exchange is pertinent to revamping the fatigue economy, and it’s only by conscious and deliberate measures that such could be set in tune.

It is pertinent to build on  quality control framework to ensure Nigerian products meet global best standards for   acceptability. Cases of rejection of Nigerian products for not meeting standards are glitches that must be eliminated. While it has been disclosed that NEPC is currently working with the Federal Ministry of Industry, Trade and Investment and other relevant agencies of government to end the narratives of rejection of Nigeria’s export products in the international market, the measures put in place must be well articulated and deliblately tailored with firm  approaches for long term impacts and credible significance. In this light, Inter-agency working/fact-finding missions should be organised to provide Nigerian export regulatory/facilitating agencies the opportunity of observing the processes of agricultural commodities import procedures and to also interact with port health and food import regulatory agencies at the border control points in countries, which are current and prospective destinations of Nigerian  products.

Economic challenges associated with the monocultural predominance status of the Nigerian economy such as overwhelming devaluation of the Naira, with the strings of inflation, erosion of purchasing power, and problems of  revenue shrinking, among other related troubles, have placed the Nigerian economy at a disadvantage, despite the huge potentials of diverse natural resources, advantages of topography and population strength.

It is apparent that the insensitivity to growing non-oil sectors such as agriculture, optimising the benefits of agro-allied industries,  mining, manufacturing, tourism sectors,  among others where the country particularly stand at an advantage with huge potentials if well harnessed, have had damages of grave losses recorded against the country.

Against the profile of economic buoyancy, the narratives have been the paradox of ‘suffering amidst plenty’. The years of overdependence on oil has proven the threats of such incongruous disposition to building a virile economy. With the present challenges of the woes driving the economy to the mire of wobble fragility, it is only instructive that the government begin in earnest the developmental quest to set in order the growth course of critical sectors where the country is at advantage of huge potentials.

Coordinating veritable policies to develop mechanisms of growth impetus around these sectors is pertinent.  Such policies should be those crafted in harmonised orientation with conscious and deliberate measures to build around these sectors frameworks to set in tune friendly environment suitable to attract investors. The harsh venture-killer environment of majority of the poor performing non-oil sectors demand conscious efforts to create, through policy measures, an ambiences suitable for investors to operate for sectoral growth.

Hence, in addition to the government itself investing in those sectors, the necessity of firm collaboration with the organised private sector is pertinent as the government alone may not have the monopoly of strength to drive the needed growth for this sectors to emerge competitive as bases upon which the economy can reliably spread its rest away from the overreliance on oil. In this regard, creating an architecture where the beauty of leveraging   on public-private partnership (PPP) finds expression, is pertinent. The government at all levels has the role to set the ambience through decisive and deliberate policy measures, while private sector stakeholders key into the drive concertedly.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Editorial

Articulated vehicles and the scourge of avoidable deaths

Published

on

Nigerians across the country continue to die utterly preventable deaths thanks to a lack of political will on the part of its leaders. It is an ugly fate thrust upon its citizens to live in a country whose economy is built upon the blood of the ordinary people, not out of sacrifice, but nonchalance. Articulated vehicles wipe out families, dreams, and human capital in one fell swoop. Press statements from the leaders are not enough. We need the May 2024 immediacy of the Tinubu administration in this sector too.

Last week, a falling container killed a woman in the Ogudu area of Lagos. The woman was inside a car when the fully loaded 40ft Mack articulated truck fell on it, leading to her instant death, according to the Lagos State Traffic Management Authority (LASTMA).

In October 2023, a businessman identified as Akuma Kalu, was crushed to death by a 40-feet container that fell on his car along the failed portion of Etche-Ngokpala road in Etche Local Government Area of Rivers state.

In September 2023, five women died in a fatal accident that occurred in the early hours of Friday at Odumodu Junction, Nteje, Oyi Local Government Area along Awka Road, Anambra State. As usual, the container of the truck fell upon the bus carrying these people, killing them. We could go on and on. The story remains the same: tragedy upon tragedy.

Every year, the Federal Road Safety Commission, FRSC, does sensitisation with little result to show for it because the arm of the law is too short to punish offenders at the root of the problem. The constant assault on the senses has led to a desensitisation on the part of the populace. Month after month, another story of a truck that erases a family, or multiple families because its brakes fail, or its container is overturned. The combination of the death of empathy on the part of leaders and the emotional exhaustion of the citizens will lead Nigeria down the path of a dystopia.

The governors of each state have a responsibility to institute laws to protect the indigenes. This, the Federal Government must also do nationwide. The FRSC has rules and regulations for trucks. The Government needs to only enforce these rules. Enough of blaming the trucks themselves because they are not the evil entities. The lack of accountability and a weak system perpetuates the dilemma.

The political class should not wait until Nigeria happens to one of their own before acting as is usually the case. Most cases bear the mark of immediate fatality. By the time a family member experiences it, it would have already been too late. We have hope that this administration will do what it takes to restore hope to the common man. Time to act is now.

Continue Reading

Editorial

Renewed Hope Initiative: Beating back inequality in all spheres

Published

on

Nigeria is full of inequalities that its leaders contend with administration after administration. With every President comes a partner who shares in the vision, and does her part to alleviate the pains of the citizens. Oluremi Tinubu has etched her name in the annals of history as one of such compassionate ones.

Recently, in Abeokuta she flagged off the Renewed Hope Initiative for women in agriculture and people living with disabilities nationwide in a bid to achieve this noble goal of equity in Nigeria.

“We are supporting 20 women farmers per state with the sum of N500,000 each. To this end, a draft of N10 million per state for the South West zone will be handed over to the first ladies of Ekiti, Lagos, Ogun, Ondo, Osun, and Oyo states who are the Renewed Hope Initiative (RHI) state coordinators for onward disbursement to all beneficiaries in their respective states,” she said.

“The Renewed Hope Initiative Social Investment Programme will be empowering 100 persons with disability, small business owners in Ogun State with a sum of N100,000 each to recapitalise their existing businesses.”

In Kebbi, represented by the Wife of the Speaker, House of Representatives, Fatima Tajuddeen Abbas, in Birnin Kebbi, she said, “Agriculture plays a pivotal role in achieving sustainable development and food security. Consequently, we are introducing ‘Every Home a Garden’ competition to encourage each Nigerian woman to cultivate a garden at home to feed the family and share with neighbours, we want to see food on every table.”

We commend the forward thinking and passion for national growth required for such a herculean task. If emulated in all quarters, it will stimulate the economy at the grassroots. It is well acknowledged that the government cannot do it alone. Private individuals who are capable must rise up to contribute to national growth.

It isn’t alien to the Nigerian condition, after all. The country was able to survive the assaults of the COVID-19 pandemic thanks to the joint efforts of private individuals under the umbrella of Coalition Against COVID-19, CACOVID, a Private Sector task force in partnership with the Federal Government, the Nigeria Centre for Disease Control (NCDC). The Renewed Hope Initiative joins the tradition of programmes committed to national improvement. History will look upon it kindly.

 

Continue Reading

Editorial

Increasing access to community healthcare

Published

on

Recently the World Health Organisation (WHO) decried the increasing threat to the right to health of millions of people across the world. The WHO Council on the Economics of Health for All has stated that 140 countries recognise health as a human right. Unfortunately, these countries are not passing and putting into practice laws to ensure that their citizens are entitled to access health services. According to the global health agency, about 4.5 billion people, over half of the world’s population, were not fully covered by essential health services in 2021.

The WHO Regional Director for Africa, Dr. Matshidiso Moeti, in her message underscored the fact that health is not only a fundamental human right, but also central to peace and security. According to her, addressing health inequities requires intentional efforts. Considerations of vulnerable groups must be addressed. Their needs ought to be purposefully integrated into health programmes at all levels to accelerate progress toward Universal Health Coverage (UHC).

‘My health, my right,’ the global agency used the occasion to call for action to uphold the right to health amidst inaction, injustice and crises. The year’s theme, according to the organisers, was chosen to champion the right of everyone, everywhere to have access to quality health services, education, and information, as well as safe drinking water, clean air, good nutrition, quality housing, decent working and environmental conditions, and freedom from discrimination.

Moeti noted that many in the African region still need help with access to quality essential health services due largely to unfulfilled rights. She observed that this is further compounded by protracted and ongoing crises such as conflicts, climate change, food insecurity, disease outbreaks and epidemics.

Available figures show that the number of people aged 15 and over living with HIV is still high at an estimated 24.3 million in 2021 (3.4 percent of the total population) compared to 15.6 million in 2015. This underscores the continued transmission of HIV despite reductions in the incidence of people newly infected and the benefits of significantly expanded access to antiretrovirals. Moeti called on member states to uphold the progress towards fulfilling the right to health, agreed by all nations of the world in 1948 and enshrined in the WHO Constitution.

“The right to health is a universal right of all human beings, regardless of race, colour, sex, language, religion, political or other opinion, national or social origin, property, birth, or another status,” Moeti stated.

Nigeria, the Coordinating Minister of Health and Social Welfare, Prof. Muhammad Ali Pate, has reiterated the ministry’s commitment to ensure the health and wellbeing of all Nigerians. The minister is of the view that the right to health is not just the ideal, it is a fundamental human right enshrined in the Universal Declaration of Human Rights.

For millions of Nigerians, accessing quality healthcare is a challenge. However, the federal government has mapped out some initiatives to address the challenge. These include Basic Health Care Provision Fund (BHCPF) and the Nigeria Health Sector Renewal and Investment Initiative and strategic partnerships through which the health ministry is ensuring access to health of Nigerians in remote communities across the country.

Unfortunately, the right to health for all Nigerians has not been enshrined in our laws. Therefore, we call on the federal and state lawmakers to make laws that will ensure the right to health of all Nigerians. We need laws that will ensure Universal Health Coverage for all Nigerians.

Such laws will ensure that every Nigerian has access to quality health at all times. These include having access to potable water, clean air, quality nutrition and quality housing, decent working environment and freedom from discrimination.

While the laws that will enforce the right to health of all Nigerians are being awaited, the government must improve access to health by ensuring that quality healthcare services are provided at the Primary Healthcare Centres (PHCs) across the 774 local government areas.

If the primary healthcare centres are functional, the nation’s disease burden would have been reduced by over 70 per cent. The government should provide free health services at the PHC level. For Nigeria to increase access to quality health for millions of Nigerians and ensure UHC, the health funding must be significantly increased.

Pathetically, it has become an eyesore that millions of Nigerians living at the grassroots don’t have access to quality healthcare services. This is a wakeup call to the various state Governors and their Chairpersons to reinvest in the health sector, especially the community people.

Most of the health institutions and healthcare facilities are in a dilapidated stage at the rural communities and there is no motivation for health personnel in terms of incentives, knowledge acquisition such as training and retaining of staff, the equipment in various hospitals and clinics are outdated. The federal government in partnership with international donors should reenergise in the health system for the betterment of the masses.

Continue Reading

Trending