Economy
SON destroys over 6000 expired, substandard tyres
The Standards Organisation of Nigeria (SON), on Thursday, destroyed over 6,000 expired and substandard imported tyres confiscated in Port Harcourt, Rivers.
Supervising the destruction in Enugu, Mr Obinna Manafa, the Director, Inspectorate and Compliance Directorate of SON, said that the destruction was to prevent access of such tyres into the markets and homes.
Manafa explained that the products were intercepted and impounded by the Agency in Port Harcourt two weeks ago, following intelligence report about the warehouse where they were housed.
The director, who did not attach any monetary value to the expired and stuffed tyres, said that it runs into several millions of naira.
He said that Nigerians should know that the lifespan of every tyre is four years.
“However, these tyres we are destroying today, which are locally called “tokunbo tyres’ have been used several years overseas.
“Before they are imported in the country, they have stayed beyond four years already.
“The third issue wrong with these ‘tokunbo’ tyres is that they are forcefully stuffed inside each other, and at times, you might have six tyres stuffed together into one tyre.
“Any tyre stuffed with another has already lost its balance on ground and internal wire alignment of such tyre has been disarrayed also,’’ he said.
The director said that stuffed and expired tyres were sometimes concealed to beat regulatory procedures, assuring that SON would not relent in its fight against fake and substandard goods.
According to him, the products failed the conformity and integrity tests.
“The decision to destroy them is to save lives and property of Nigerians, since these expired and stuffed tyres can burst at high speed on major highway and deny the user, if he or she is still alive, the value for his or her money,’’ he said.
Manafa advised Nigerians to look carefully at the expiry date of a tyre before buying as well as “alert SON officials if any new tyre looks suspicious’’.
He said that the destroyed tyres would not be burnt, but sold to rubber and plastic recycling companies to get some revenue for the Federal Government.
“It is better that way instead of it constituting environmental hazard through burning,’’ he said.
By Sodiq Adelakun
Inflation in Nigeria continued to rise for the twelfth consecutive month in December, with the headline inflation rate reaching 28.92%, up from 28.20% in November.
The National Bureau of Statistics released its consumer price index report on Monday, revealing the ongoing impact of inflation on the country’s economy.
More details to come…
The Nasarawa State House of Assembly has announced the first reading of a bill aimed at regulating private schools and tertiary institutions in the state.
The bill, titled “A Bill for a Law to Regulate the Establishment and Operation of Private Nursery, Primary, Secondary Schools and Tertiary Institutions in Nasarawa State and Other Matters Connected Therewith,” was introduced during the House proceedings on Monday in Lafia.
In addition to this bill, the House also passed two executive bills that focus on promoting education and skills training in the state.
The bills, if passed into law, are expected to enhance the quality of education and boost skills training across Nasarawa State.
Three bills have successfully passed their first reading in Nasarawa State, Nigeria.
The first bill, titled “A Bill For a Law to Establish the Wing Commander Abdullahi Ibrahim Vocational and Technology Institute, Lafia, and other Matters Connected Therewith,” aims to establish a vocati onal and technology institute in Lafia, the state capital. This institute will provide valuable skills training and education to the youth of the region.
The second bill, named “A Bill for A Law to Amend College of Agriculture, Science and Technology, Lafia, Nasarawa State Law 2020, and Matters Connected Thereof,” seeks to amend the existing law governing the College of Agriculture, Science and Technology in Lafia.
The proposed amendments aim to enhance the college’s operations and ensure it remains at the forefront of agricultural and technological advancements.Lastly, the third bill, titled “the Bill for a Law to Regulate the Establishment and Operation of Private Nursery, Primary, Secondary Schools and Tertiary Institutions in Nasarawa State and Other Matters Connected Therewith,” focuses on regulating the establishment and operation of private educational institutions in the state.
This bill aims to ensure that these institutions meet certain standards of quality and provide a conducive learning environment for students.
“The Speaker of the House, Alhaji Ibrahim Abdullahi, announced that the second reading of the bill for the establishment of the Wing Commander Abdullahi Ibrahim Vocational and Technology Institute, Lafia, and other related matters will take place on October 2.
The second reading of the bill to amend the College of Agriculture, Science and Technology, Lafia, Nasarawa State Law 2020, and matters connected thereof, will be scheduled for October 3.
These bills demonstrate the commitment of the Nasarawa State House of Assembly to improving the educational sector and providing opportunities for skills development in the state.
“I will slate Oct. 3, for the second reading of A Bill for A Law to Amend College of Agriculture, Science and Technology, Lafia, Nasarawa State Law 2020, and Matters Connected Thereof.
“I will also slate Oct. 4 for the second reading of A Bill for a Law to Regulate the Establishment and Operation of Private Nursery, Primary, Secondary Schools and Tertiary Institutions in Nasarawa State and Other Matters Connected Therewith,” he said.
Earlier, Alhaji Mohammed Omadefu, the Majority Leader of the House, moved motions for the bills to scale first readings.
The Minority Leader of the House, Mr Luka Zhekaba, seconded the motion.
The House unanimously passed the bills into first readings.
The Director of the Centre for the Promotion of Private Enterprise, Dr Muda Yusuf has said the current inflationary pressures might ease by December this year.
Yusuf disclosed this on Sunday in his Half Year Review of 2023.
His review comes amid the effect of fuel subsidy removal and foreign exchange reforms by President Bola Ahmed Tinubu’s administration.
Consequently, the prices of goods and services sharply increased.
The National Bureau of Statistics said Nigeria’s inflation is 22.41 per cent. Nigerians have continued to lament the hike in the prices of goods and services.
Meanwhile, Yusuf said that the effect of fuel subsidy removal and forex reforms would be in the short term.
According to him, the challenges would gradually reduce before the year ends.
Meanwhile, Yusuf said the CBN should implement a sustainable intervention framework to moderate the volatility in the forex market.
“Inflationary pressure is expected to ease before the end of the year.
“It would pave the way for an equilibrium exchange rate which would be more tolerable and sustainable”, he stated.
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