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FG pledges policies that’ll promote investments, trade

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The Federal Government on Wednesday in Abuja assured of policies that would promote investments and facilitate increased foreign and domestic trade.

Dr Evelyn Ngige, the Permanent Secretary in the Ministry of Industry, Trade and Investment, made the promise at the stakeholders’ sensitisation workshop on the first Nigeria Investment Policy (2023-2027)(NInP) and Trade Policy of Nigeria (2023-2027)(TPN).

Represented by Alhaji BabaGana Alkali, the Director of Policy, Planning, Research and Statistics in the ministry, Ngige said that both policy documents would address gaps and provide strategic frameworks for investment promotion and increased trade.

According to her, the NInP and TPN represent significant milestones in our journey of economic growth and development.

She expressed the ministry’s commitment to improve domestic investment and business environment to position Nigeria as one of the world’s preferred investment destinations.

“The development of the first Investment Policy and the Review of the Trade Policy of Nigeria are useful outcomes of the sustained efforts of the ministry in this regard,’’ she said.

Ngige said that the objectives for developing the investment policy framework include fast-tracking the process of Nigeria’s economic diversification, improving investment and business climate to attract both domestic and foreign direct investment.

She said that it would improve investors’ experience and confidence through ensuring compliance with global best practices, while generating inclusive domestic growth for employment generation and wealth creation.

“Additionally, the motivation for the development of the Nigeria Investment Policy is the need for policy certainty, stability and coherence in investment-related matters.

“Policy certainty and stability are very vital in attracting and sustaining investments in the local economy.

“The NInP, therefore, provides a comprehensive and harmonised framework that consolidates investment-related regulations at the national and sub-national levels,’’ she said.

Ngige also said that the policy was also envisaged to create synergies with the objectives of other national economic frameworks and to promote Responsible, Inclusive, Balanced, and Sustainable (RIBS) Investments in the Nigerian economy.

“On the other hand, the review of the Trade Policy of Nigeria (TPN) was carried out to align the document with emerging issues in global trade.

“The TPN 2023-2027 seeks to promote trade as a catalyst for economic growth and development.

“The policy recognises the positive impact of trade on competitiveness, employment generation, wealth creation and poverty reduction as well as aligns with domestic policies that enhance productivity macroeconomic stability and promote good governance.

“The policy emphasises the creation of a trade-enabling environment to mitigate unexpected economic shocks such as the COVID-19 Pandemic, protectionism and taking advantage of emerging trends,’’ Ngige said.

She expressed optimism that the policies would address the challenges that hindered Nigeria’s trading and investment competitiveness at the global level.

“With these policies, we are now set to diversify our export base, develop a flourishing domestic market, promote “Made-in-Nigeria” products, enhance market access and increase investment and trade competitiveness,’’ Ngige said.

On his part, Dr Ezra Yakusak, the Executive Director, Nigerian Export Promotion Council (NEPC) said the policy documents came at the appropriate time when there is need to maximise Nigeria’s vast potential to promote sustainable economic growth.

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Minister tasks NDC participants on principles of cooperation, diversity

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The Minister of Foreign Affairs, Amb. Yusuf Tuggar, has challenged the participants of the National Defence College (NDC) Course 32, to reaffirm commitment to upholding the principles of cooperation, tolerance and respect for diversity.

Tuggar, who was represented by Amb. Tiwatope Elias-Fatile, made the call at the NDC International Day organised for allied participants of Course 32, on Saturday in Abuja.

He said the event was organised by the college to foster the existing cordial relationship between Nigeria and the countries of all international participants on the course through showcasing of different cultural heritage

”I also understand that variety of foods from different countries will be served at this event,” he said.

The minister commended the college for the increase in the number of foreign participants

He said that NDC environment had become a diplomatic hub of a sort and not only an academic institution and I think this is highly commendable.

According to him, NDC has provided a platform for them to come together, share their heritage and strengthen the bonds as they appreciate the artifacts, cuisine, traditional dresses and music on display.

“Today, as we celebrate International Day for international participants, let us reaffirm our commitment to upholding the principles of cooperation, tolerance and respect for diversity.

“Let us embrace the notion that our differences are a source of strength, not division, and that by working together, we can overcome even the most formidable of challenges.

“Let us recognise that cultural diversity is a strength, not a weakness.

“For us in Nigeria, we have success stories of how our different cultures have brought us together and make us very strong in a world where division and conflicts often dominate the headlines,” he said.

According to him, this event reminds us that our shared humanity is greater than our differences.

“Let us continue to build bridges of understanding, foster dialogue and promote peace.

”We should strive to create a world where diversity is cherished and inclusivity is the norm,” he said.

Tuggar challenged participants from the 19 countries to continue to be ambassadors and representatives of their nations

He added that their stories, traditions and customs were the bridges that connect them with each other.

In his address of welcome, the Commandant of the College, Rear Adm. Olumuyiwa Olotu, said the International Cultural Fiesta was a routine part of the NDC’s academic programme.

Olotu said said the event culminated the Country Briefs by the international participants where the history and culture of their peoples were highlighted, showing similarities with Nigeria.

He said the briefs by the international participants also highlighted government policies on the economy, security and development in heir respective countries.

According to him, the participants display the culture, artefacts, maps and culinary specialities of their countries during this event.

“This tradition is to foster and deepen the existing cordial relationship between Nigeria and all the countries here represented by our dear international participants.

“This is in addition to the need to strengthen the bond, friendship and comradeship amongst participants.

“In a nutshell, it is a pleasant event that brings joy to the entire college community and today we have participants of NDC Course 32 to do us the honours.

“It is also a family gathering and an avenue for us to take a break from academic work and unwind in a relaxed atmosphere,” he said.

The Commandant said the 2024 edition had participants from 19 countries and Nigeria which  include; the Republic of Benin, Botswana, Brazil, Chad, Congo, Cote d’ Ivoire the Gambia, Germany and Ghana.

Others according to him, are; India Liberia, Mali, Nepal, Senegal, Sierra Leone, South Africa, Tanzania, Zambia as well as Zimbabwe.

The Representative of the Diplomatic Corps, Mr Tunde Spencer, from Liberia, said the college had contributed immensely to various aspects of Liberia’s national development.

He commended NDC for the initiative to promote cultural diversity, foster understanding and cultural exchange  among the participants.

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NYSC Trust Fund Bill will create job opportunities for graduates – Senate

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The Chairman, Senate Committee on Youth and Community Engagement, Sen. Yemi Adaramodu, (APC Ekiti South), said that the recently passed National Youths Service Corps (NYSC) Trust Fund Bill would provide jobs for graduates.

Adaramodu disclosed this when he led a delegation of the committee on official visit to Oyo State NYSC Orientation Camp at Iseyin on Saturday.

He said that the bill would soon be sent to the President for assent and had scaled through both first, second reading and other crucibles of legislation.

The lawmaker said that the provision of the Bill was basically to ensure that corps members get established through the training they had acquired through NYSC Skill Acquisition and Entrepreneurship Development (SAED) programme.

He added that the provision of the Bill also cater for corps members who might wish to go into business after their service year.

“The issue of unemployment and what next for corps members after the service year will be a thing of the past soon.

“The bill will ensure that the dreams of every Nigeria graduate become a reality, “he said.

Adaramodu disclosed that the Senate, in collaboration with relevant government departments, agencies and other stakeholders, would soon work on the upward review of corps members’ allowances across the country.

He said that the Senate, in its legislative agenda, would also consider other youth development programmes aside from those embedded in the NYSC trust fund Bill.

Also speaking, the Oyo State NYSC Coordinator, Mr Abel Odoba, said that NYSC SAED training aimed to empower corps members to consider the possibilities of self-employment or initiating their own businesses.

Odoba noted that the NYSC trust fund Bill would practically eradicate unemployment among graduate youths in Nigeria.

He said that statistics have shown that many corps members who actively engaged in SAED programmes have become employers of labour after their service year.

“The Bill will provide soft landing for corps members who have undergone SAED in securing startup funds.

“Through the trust fund, skilled corps members will be given startup grants so that they will become employers of labour and contribute to development of the nation.

“Country like China and other fast developing nations are exploring skills development to address unemployment.

“A time is coming that certificate will no longer be useful but skills acquired will always make way at all times, “he said.

The News Agency Nigeria(NAN) reports that members of the Senate delegation include Sen. Salisu Afolabi (APC Ogun Central), Sen. Aminu Abbas(PDP Adamawa Central), the clerk – Mrs Ijeoma Chikwem and other principal officers of senate youth development committee.

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Power: Amukpe substation to experience power outage for 2 weeks – TCN

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The Transmission Company of Nigeria (TCN), on Saturday in Benin said that there would be power outage in its Amukpe substation for two weeks.

This is according to a statement signed by the General Manager, Public Affairs TCN Ndidi Mbah.

Mbah said the disruption would begin on May 4 and last till May 17.

The outage according to TCN, is to enable contractors have safe environment to erect two 132KV transmission towers at the substation.

The company also said d that as a result of the intending power outage, there would be no bulk power supply to Benin DisCo through the Adeje industrial, woodland, Mosogar, Sapele and Abraka feeders for the period.

“The transmission Company of Nigeria (TCN) hereby states that it will commence the erection of two (2) number 132kV transmission towers at its Amukpe Transmission Substation.

” And will equally restring a portion of the Benin-Delta and Delta-Oghara 132kV double circuit transmission lines from Saturday, May 4 to May 17, 2024.

“Consequently, Amukpe Substation will be out of power for the duration of the work.

“Also, there will be no bulk power supply to Benin DisCo through the following feeders: the Adeje, industrial  Woodland, Mosogar, Sapele and Abraka feeders.

“The outage is necessary to create a safe working environment for the contractor. Completion of the projects will put in place N-1 redundancy that would enable TCN supply bulk electricity to the substation from either the Benin or Ughelli transmission line.

“This means that when one transmission line is faulty, bulk electricity can still be received in the substation from the second line., ” Mbah said.

According to her, TCN apologises for the inconvenience electricity consumers in the substation will experience within the period.

She said that the projects would help ensure a more flexible and consistent bulk power supply through the Amukpe transmission substation when completed

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