Business

EU Not Deterred By Terror Attacks

Published

14 years ago

May 4, 2012

The European Union (EU) has said it would not be deterred by the spate of bombings in Nigeria and pledged more support to the fight against terrorism in the country.

Ambassador David MacRae, Head of EU Delegation to Nigeria and ECOWAS, stated this at a media luncheon in Abuja yesterday.

MacRae, who condemned the recent attacks on media organisations in Abuja and Kaduna, noted that terrorism was a global issue and urged Nigerians not to be intimidated but rise up to the fight against terrorism.

“What we witnessed last week was a total abomination; we condemn these attacks and the way they targeted these newspaper offices and obviously our sympathy and condolences go to the families of all the victims.

“We wish that those who are responsible for these crimes are arrested and brought to justice.

“Everybody living in the country today has to be careful and vigilant but at the same time we should as far as possible strive to continue to go back to our business and not allow these acts of terror to defeat us and that includes, as far as the European Union is concerned, not shying away.’’

He assured that the EU had begun discussions with the government on partnership in the area of security.

“We have decided to put in place a dialogue process to discuss security; we will bring to Nigeria the benefits of what we have and we are there to give support to the government to help tackle this scourge.

“There is a need for improvement in the justice system and need to create a secure environment for people to live in.’’

The ambassador also said the EU was extending its support in the areas of water and sanitation sector in Kano, Jigawa and Yobe States.

MacRae listed other areas of partnership between the EU and Nigeria to include security, governance and human rights as well as trade and regional integration.

On trade, the EU ambassador said that the EU had imported more than 50 per cent of West Africa’s non-oil export in 2010.

“Stocks of EU investments in Nigeria alone amounted to no less than 30 billion euros in 2010.’’

He urged Nigeria to embrace the benefits of the Economic Partnership Agreement (EPA) as an opportunity to attract investment to the non-oil sector, and enable improved access to the EU market and economic governance.

“Let me affirm that the EPA provides for a number of protections aimed at reducing its potential negative impact to the very minimum while opening huge opportunity for development and economic growth (including the creation of jobs) from which Nigeria, being the biggest player in the region, stands to gain more than any other ECOWAS country.’’

He commended the role the ECOWAS played in moving the process of the EPA forward and expressed the hope that fresh opportunities would be presented for more West African countries to be involved in the agreement.

According to MacRae, the EU is also engaging Nigeria in the area of improving legal migration and development.

On the World Press Day, the EU ambassador said: “The EU commends the courageous work of journalists, who in often highly precarious conditions, continue to provide independent information.

‘’The EU is firmly opposed to any unjustified, disproportional restrictions and access to or use of these media.’’

He called on all states to guarantee the safety of journalists and allow them carry out their “vital role of reporting and commenting on events in an independent manner without fear of violence and recrimination”.

Business

PENGASSAN Tasks Multinationals On Workers’ Salary Increase

Published

1 week ago

December 8, 2025

The Tide

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has asked companies in the oil and gas sector to undertake urgent review of salaries of their workers in view of the prevailing harsh economic conditions in the country.

Also, the pensioners of Chevron Nigeria, under the aegis PenCoN, have lauded the President of PENGASSAN, Comrade Festus Osifo and his executive on their unrelenting efforts toward addressing pension abnormalities faced by retired workers in the oil and gas industry.

The association also appealed to the federal government to take necessary measures to check banditry and terrorist activities in parts of the country.

PENGASSAN President, Osifo who addressed journalists shortly after the National Executive Council meeting of the association in Abuja, at the weekend, said that though a lot of success has been recorded in negotiating salary reviews for its members, there are still organisations that have failed to lift their workers from the present harsh economic situation.

He said within this period, PENGASSAN has signed numerous Collective Bargaining Agreements (CBAs) which has brought smiles to the faces of its teeming members.

“This is because we recognise that our job, literally, is how to protect the job of our members, and how to enhance their pay,” he said.

Osifo said that operators in the oil and gas sectors always go for the best qualified professionals to carry out their operations.

“So, the same way they recruit the best, we also challenge them to provide the best condition of service and provide the best remuneration.

“Yes, today, a lot of companies will have achieved successes, but there are still few that we are still discussing at their CBAs, that we are not yet there.

“We still use this opportunity to call on these companies that are still foot dragging, that are still holding back, even with the massive devaluation that has occurred in our country, that still don’t want to fix the remuneration of our members.

“We are calling on them to do the needful, because for us in PENGASSAN we will push without holding back. We will push, using everything in our arsenal, to ensure that the needful is done,” he said.

Osifo spoke of the dispute with the Dangote Refinery group, saying there are still pending issues to be resolved.

“Gentlemen of the press, during the networking session, we also looked at the issues that are plaguing some of our branches, and you know that recently, we had some challenges in Dangote Refinery and PetroChemicals Ltd.

“And within this period, since our last National Industrial Action, we have been engaging them in a lot of conversations, but the issues are not fully resolved. There are still a lot of pending issues.

“Yes, the NEC decided that, yes, let us still consummate that process by pushing those issues, by engaging in dialogue to resolve the issues, and by also engaging all our social partners and stakeholders to get the issues resolved,” he said.

Business

SEC Unveils Digital Regulatory Hub To Boost Oversight Across Financial Markets

Published

1 week ago

December 8, 2025

The Tide

The Securities and Exchange Commission (SEC) has launched the Regulatory Hub, a new centralized digital platform designed to streamline collaboration, strengthen oversight, and improve transparency across Nigeria’s financial and capital market ecosystem.

The Commission disclosed this in a statement posted on its website.

According to the commission, the platform connects key regulatory and security institutions including the Office of the National Security Adviser (NSA), the Central Bank of Nigeria (CBN), Economic and Financial Crimes Commission (EFCC), Federal Inland Revenue Service (FIRS), and Corporate Affairs Commission (CAC), enabling them to exchange information securely and in real time.

The launch of this regulatory hub comes ahead of the implementation of new tax laws in January 2026, with agencies such as the FIRS spreading its tentacles across sector to monitor compliance.

According to the SEC Director-General, Emomotimi Agama, the launch marks a significant step toward modernizing Nigeria’s regulatory framework through technology.

“The Regulatory Hub is a major step in our commitment to leverage technology for stronger regulatory synergy. By connecting regulators on one platform, we are building resilience, enhancing market integrity, and promoting investor confidence,” he said.

The SEC said the platform would help reduce bottlenecks in regulatory processes and facilitate faster, more informed decision-making across agencies.

Reinforcing the DG’s comments, the Executive Commissioner, Operations, Bola Ajomale, highlighted the operational benefits of the new system.

“The platform will significantly improve the timeliness and quality of regulatory decision-making. It provides a single window for regulators to share data, respond to requests, and collaborate seamlessly in safeguarding our financial and capital markets,” he said.

The commission believes the Regulatory Hub would support its broader mandate to strengthen investor protection, enhance market stability, and harmonize regulatory activities across the financial sector.

It urged stakeholders to initiate interest by emailing the Commission, adding that once registered, participants would be able to access the Hub and take advantage of its features.

Business

NAFDAC Decries Circulation Of Prohibited Food Items In markets …….Orders Vendors’ Immediate Cessation Of Dealings With Products

Published

1 week ago

December 8, 2025

The Tide

The National Agency for Food and Drug Administration and Control (NAFDAC) has raised an alarm over the growing circulation of banned food products across markets in the country.

The agency, in a Press Release dated 6 December 2025, warned that these items including pasta, noodles, sugar and tomato paste are expressly listed on the Federal Government’s Customs Prohibition List and are illegal to import.

NAFDAC stated that the sale and distribution of such prohibited items violate national trade laws, compromise the integrity of Nigeria’s food control system, and pose significant public health risks, as they have not undergone the agency’s mandatory safety and quality evaluations.

Importers, market traders, and supermarket operators have therefore, been directed to immediately cease all dealings in these items and to notify their supply chain partners to halt transactions involving prohibited products.

The agency emphasized that failure to comply will attract strict enforcement measures, including seizure and destruction of goods, suspension or revocation of operational licences, and prosecution under relevant laws.

The statement said “The National Agency for Food and Drug Administration and Control (NAFDAC) has raised an alarm over the growing incidence of smuggling, sale, and distribution of regulated food products such as pasta, noodles, sugar, and tomato paste currently found in markets across the country.

“These products are expressly listed on the Federal Government’s Customs Prohibition List and are not permitted for importation”.

NAFDAC also called on other government bodies, including the Nigeria Customs Service, Nigeria Immigration Service(NIS) Standards Organisation of Nigeria (SON), Nigerian Ports Authority (NPA), Nigerian Maritime Administration and Safety Agency (NIMASA), Nigeria Shippers Council, and the Nigeria Agricultural Quarantine Service (NAQS), to collaborate in enforcing the ban on these unsafe products.

By: Lady Godknows Ogbulu