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Marine, blue economy key to Nigeria actualising $1trn economy — FG
By Seun Ibiyemi
The Federal Government has identified the Marine and Blue Economy Ministry as one of pivotal ministries critical to achieving a one trillion dollar economy by 2026.
The Executive Secretary/Chief Executive Officer (CEO), the Nigerian Shippers’ Council (NSC), Mr Pius Akuta, said this on Thursday during a courtesy visit at the Tincan Island Container Terminal Ltd., Lagos.
Akuta added that the Federal Government had concluded plans to come up with policy documents that would boost port efficiency.
Recall that President Bola Tinubu in October 2023 set a target of growing the economy to $1 trillion by 2026 and increasing it to $3 trillion by the end of the decade in 2030.
Akuta said that the President and his New Hope Agenda for this country was looking at moving from a $500 billion economy to a $1trillion economy by 2026.
“We have a lot of issues to put together and Nigeria has taken bold steps by establishing the Marine and Blue and that is geared towards restructuring the marine environment so that it contributes to the Gross Domestic Product of the country.
“The minister has been working day and night meeting with stakeholders on issues relating to challenges the sector is facing and a policy will be rolled out to address these issues so as to ensure port efficiency.
“To achieve port efficiency, there is a need for stakeholders’ input. On tariff, if we achieve port efficiency, the turnaround time is improved and it will trickle down,” he said.
Akuta noted that going forward, things would change drastically, the checkpoint would be looked at holistically and steps would be taken in all directions to improve port efficiency.
He described automation as the most important way to go in terms of port efficiency, stating that this would lead to less gridlock on the port corridors.
“My concern also is achieving the International Cargo Tracking Note that will help all stakeholders in cargo clearance and the country achieve port efficiency.
“This is on the front burner of the presidency and we are going to work to achieve it in record time and probably before the end of the year,” he said.
Earlier, the Managing Director/CEO, Tincan Island Container Terminal Ltd., Mr Etienne Rocher, said the rehabilitation and modernisation of Lagos ports were critical to meeting the requirements that would attract shipping lines and make the country competitive in West and Central Africa.
Rocher also blamed poor access roads as one of the obstacles hindering ease of doing business in the country.
He noted that the number of containers handled by the terminal had reduced due to congestion.
“Although rail and barge are alternatives for evacuation of cargoes from the seaports, they remain secondary to the roads, which remains the core avenue for cargo movement and take up about 97 per cent of the consignments,” he said.
Rocher wondered how it took less than 24-hour to clear the port access roads of traffic during the presidential visit to the port and a whole decade to resolve the issue permanently.
News
Osun Assembly confirms Isiaq Awotunde as Auditor General
The Osun House of Assembly, on Tuesday, confirmed Mr Isiaq Awotunde as the state’s new Auditor General for Local Government.
Awotunde before his confirmation was Deputy Auditor General (Operations) for Local Government.
Gov. Ademola Adeleke appointed Awotunde and forwarded his name to the House of Assembly for confirmation following the retirement of his predecessor, Mr Emmanuel Kolapo.
Mr Adewale Egbedun, Speaker of the Osun Assembly, had on April 30, at plenary, read a letter from Gov. Adeleke seeking the confirmation of the appointment of Awotunde as Auditor General for Local Government.
Also during plenary, the Assembly passed the Osun State Discrimination Against Persons with Disabilities Prohibition Bill 2024, a law to create a bureau for people with disabilities in the state.
The Osun State Public Political Office Holders Revised Remuneration Package Amendment 2 Bill 2024 was also read for the second time at the sitting.
News
Reps decry increase in cement price
The House of Representatives, has expressed worry over continual rise in the price of cement, saying it is detrimental to the entire economy.
The Deputy Speaker, Rep. Benjamin Kalu said this at an investigative hearing on Arbitrary Increase in Cement Price in Abuja on Tuesday, organised by the House Joint Committee on Solid Minerals, Industry, Commerce and Special Duties in Abuja.
Kalu said that cement remained a fundamental component in construction of vital infrastructure such as bridges, dams, houses, waterworks, and road.
He said that Nigeria had a housing deficit of 16.9 million going by statistics.
“According to the World Bank, Lagos, Ibadan, Kano, and Abuja, have a 20 per cent rise in housing needs yearly.”
He said that the total output in the formal housing sector was estimated at not more than 100,000 units.
The lawmaker added that bridging the gap required affordable and accessible cement prices for both the government and the private sector.
He said while factors such as exchange rates had contributed to rising prices of commodities, it was encouraging to see the value of naira increasing sharply against dollar.
“Notably, the naira has shown remarkable strength against the dollar in past weeks, and Fitch Ratings, a global credit rating agency, recently revised Nigeria’s credit outlook to positive from stable.
“We are also dedicated to enacting laws that prevent a recurrence of the factors that led to the current situation,” he said.
Speaking, the Chairman of the committee, Rep. Jonathan Gaza, said the recent hike in the price of cement was worrisome.
‘’Nigeria has high deficit of housing and other infrastructure.
“To close this gap, both government and the private sector must be articulate and deliberate in putting the right policies and parameters in place to encourage development.
“Therefore, should the price of cement which is a major component for infrastructure development continues to soar uncontrollably, the tendency to stifle life out of that sector is high and the consequences very detrimental,” Gaza said.
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