Business

2014 Budget Designed To Encourage Manufacturing Sector – Jonathan

Published

13 years ago

February 11, 2013

President Goodluck Jonathan has said that the 2014 budget and beyond was designed to encourage the manufacturing sector for employment generation.

Jonathan said this at the inauguration of the Board of the National Competitive Council of Nigeria (NCCN) recently.

The council, which is chaired by the Minister of Trade and Investment, Dr. Olusegun Aganga, is charged with the responsibility of, among other things, proposing policies and recommendations that will enhance Nigeria’s global competitiveness ranking and revitalise the Nigerian economy.

The 18-member board is also expected to generate policies and programmes that will attract domestic and foreign investment particularly in the manufacturing sector, create sales for local businesses and more markets for products made in Nigeria.

Jonathan said Government will continue to support private initiatives and encourage private bodies to key into our transformation agenda. We have to commend the private sector for their commitment in setting up this body that will help government and the private sector.

He further stated that “I wish the pioneer NNCC board every success in this assignment and I have every confidence that you will not let our nation down. We believe that without encouraging the private sector, especially the manufacturing sector, we cannot get out of the current economic position no matter how we struggle to produce primary produce, they will not create enough jobs for this country.

He said “that is why for the next two years and may be beyond 2015, Nigerian budget will be geared towards encouraging manufacturing sector in this country.”

The president tasked the board to bench mark, monitor and evaluate Nigeria’s competitiveness ranking and make viable recommendation that would achieve consensus on policy measures.

He also tasked them to create and release the report on Nigeria’s competitiveness to guide Nigeria’s development and policy frame work.

He said the board should coordinate local efforts to stimulate competitiveness by communicating and cooperating with stakeholders through hosting of events, seminars and local level conference.

“Let me emphasise that the federal government accords great importance to this assignment and will therefore support you to achieve this vital task of improving our country’s business environment.”

The president said members of the council were selected to serve on the board on account of their proven integrity, unwavering patriotism and uncommon sense of duty.

Responding on behalf of other members, Aganga thanked the President for his foresight and determination to create conducive environment for business to thrive in Nigeria.

He listed the gains of the council to include; increase in productivity, expansion of markets for local products, job and wealth creation.

The mnister assured that the board would deliver on its mandate.

Members of the board include the President, Manufacturers Association of Nigeria, Chief Kola Jamodu; President, Dangote Group, Alhaji Aliko Dangote; and the Director-General, Nigeria Economic Summit Group, Mr. Frank Nweke (jnr).

Also on the board are Mr Tony Elumelu and Ms. Funke Adekoya (SAN); Prof. Esogbue Augustine; Ms. Ike Yvonne, Publisher, Business Day; and Mr. Frank Aigbigun, among others.

Meanwhile, the Minister of Trade and Investment, Mr Olusegun Aganga, says the newly inaugurated board of National Competitiveness Council of Nigeria (NCCN) has an onerous task to increase Foreign Direct Investment (FDI) inflows into the country.

Aganga said this in Abuja while briefing journalists on the mandate of the council, which was inaugurated by President Goodluck Jonathan.

He said the inauguration of the council was a demonstration of government’s determination to improve the country’s global competitiveness ranking and revitalise its economy.

The Minister said the inauguration of the 18-member board was geared toward increasing productivity and sales for local businesses, adding that it would lead to the creation of more markets for Made-in-Nigeria products.

He said “the objective is to enhance Nigeria’s competitiveness by policies that will create an economy that attracts domestic and foreign investment without focusing on any specific interest group or sector.

“The council shall be the focal body responsible for creating awareness on national competitiveness in the country as well as coordinate the efforts of both the public and private sectors to improve Nigeria’s Competitiveness,’’ he said.

The council, according to him, shall recommend relevant policies, proactively monitor and evaluate the progress being made at national and sub-national levels as well as liaise with councils of other countries on global competitiveness issues.

Aganga, said “this will go a long way in developing National Public Policy initiatives to address short, medium and long-term Competitiveness issues confronting the country.”

Business

Agency Gives Insight Into Its Inspection, Monitoring Operations

Published

2 weeks ago

January 12, 2026

The Tide

The Director, South South Zone National Agency for Food Drug Administration and Control (NAFDAC), Pharmacist Chujwuma P.Oligbu has said its thorough implementation of its core mandate of monitoring has no link with witch-hunting or fault finding as perceived at some quarters.

Oligbu, made this known when he spoke as as guest at the maiden Rivers state Supermarkets stakeholders’ Seminar/Workshop in Port Harcourt recently.

Rather, he said they were mere opportunities for education, correction and continuous improvement.

The Agency’s South South Boss, noted that Supermarket operators who maintain transparent records, cooperate during inspections, and promptly address identified gaps demonstrate professionalism and commitment to public health standard.

He listed the deserving essence of supermarket operation to include the key aspects of supermarket operation that deserves emphasis is product sourcing.

“Supermarkets must ensure that all regulated products stocked on their shelves are duly registered with NAFDAC and sourced from legitimate manufacturers or distributors”, he said .

According to him, the presence of unregistered, expired, counterfeit, or improper labelled products undermines consumer confidence and poses serious health risks.

He pointed out that such has the likelihood of exposeing supermarket operators to legal sanctions that could damage their reputation and financial stability.

The NAFDAC Operator, further enlightened the participants that mere registration of a particular product with the Federal agency do not guarantee absolute consumption safety.

“Temperature control, cleanliness, pest control, stock rotation, and proper shelving are not optional practice; they are essential components of compliance”, he said.

The South South zonal director also told the operators of supermarket that their employees rotine training on the basis of the product they display for sale is of utmost importance.

In her presentation a Breast Milk Nutrition Expert , Professor Alice Nte of University of Port Harcourt Teaching Hospital (UPTH), was against the body’s prime attention to breast milk substitute or baby milk in supermarkets as well as its advertisement or promotion.

Nye jerked up the importance of mothers breast milk to the newborn baby and added that it help in fighting against childhood diseases, infections and combating cancer in breastfeeding mothers.

Meanwhile, NAFDAC Deputy Director, South – South Zone , Mrs. Riter Chujwuma educated the participants on the guidelines for global listing, and the need to adhere strictly to rules guiding global listing to avoid confiscation of their imported products.

By: King Onunwor

Business

BVN Enrolments Rise 6% To 67.8m In 2025 — NIBSS

Published

2 weeks ago

January 12, 2026

The Tide

The Nigeria Inter-Bank Settlement System (NIBSS) has said that Bank Verification Number (BVN) enrolments rose by 6.8 per cent year-on-year to 67.8 million as at December 2025, up from 63.5 million recorded in the corresponding period of 2024.

In a statement published on its website, NIBSS attributed the growth to stronger policy enforcement by the Central Bank of Nigeria (CBN) and the expansion of diaspora enrolment initiatives.

According to the data, more than 4.3 million new BVNs were issued within the one-year period, underscoring the growing adoption of biometric identification as a prerequisite for accessing financial services in Nigeria.

NIBSS noted that the expansion reinforces the BVN system’s central role in Nigeria’s financial inclusion drive and digital identity framework.

Analysts linked the growth largely to regulatory measures by the CBN, particularly the directive to restrict or freeze bank accounts without both a BVN and National Identification Number (NIN), which took effect from April 2024.

The policy compelled many customers to regularise their biometric records to retain access to banking services.

Another major driver, the statement said, was the rollout of the Non-Resident Bank Verification Number (NRBVN) initiative, which allows Nigerians in the diaspora to obtain a BVN remotely without physical presence in the country.

The programme has been widely regarded as a milestone in integrating the diaspora into Nigeria’s formal financial system.

A five-year analysis by NIBSS showed consistent growth in BVN enrolments, rising from 51.9 million in 2021 to 56.0 million in 2022, 60.1 million in 2023, 63.5 million in 2024 and 67.8 million by December 2025. The steady increase reflects stronger compliance with biometric identity requirements and improved coverage of the national banking identity system.

However, NIBSS noted that BVN enrolments still lag the total number of active bank accounts, which exceeded 320 million as of March 2025.

The gap, it explained, is largely due to multiple bank accounts linked to single BVNs, as well as customers yet to complete enrolment, despite the progress recorded.

Business

AFAN Unveils Plans To Boost Food Production In 2026

Published

2 weeks ago

January 9, 2026

The Tide

The leadership of the All Farmers Association of Nigeria (AFAN) has set the tone for the new year with a renewed focus on food security, unity and long-term growth of the agricultural sector.

The association announced that its General Assembly of Farmers Congress will take place from January 15 to 17, 2026 at the Abuja Chamber of Commerce and Industries, along Lugbe Airport Road, in the Federal Capital Territory.

The gathering is expected to bring together farmers, policymakers, investors and development partners to shape a fresh direction for Nigerian agriculture.

In a New Year address to members and stakeholders, AFAN president, Dr Farouk Rabiu Mudi, said the congress would provide a strategic forum for reviewing past challenges and outlining practical solutions for the future.

He explained that the event would serve as a rallying point for innovation, collaboration and economic renewal within the sector.

Mudi commended farmers across the country for their determination and hard work, despite years of insecurity, climate-related pressures and economic uncertainty.

According to him, their resilience has kept food production alive and positioned agriculture as a stabilising force in the national economy.

He noted that AFAN intends to build on this strength by resetting agribusiness operations to improve productivity and sustainability.

The AFAN leader appealed to government institutions, private investors and development organisations to deepen their engagement with the association.

He stressed the need for collective action to confront persistent issues such as insecurity in farming communities, climate impacts and market instability.

He also urged members to put aside internal disputes and personal interests, encouraging cooperation and shared responsibility in pursuit of national development.

Mudi outlined key priorities that include increasing food output, expanding support for farmers at the grassroots and strengthening local manufacturing through partnerships with both domestic and international investors adding that reducing dependence on imports remains critical to protecting the economy and creating jobs.

He stated that the upcoming congress will feature the launch of AFAN’s twenty-five-year agricultural mechanisation roadmap, alongside the announcement of new partnerships designed to accelerate growth across the value chain.

Participants, he said wi also have opportunities for networking and knowledge exchange aimed at transforming agriculture into a more competitive and technology-driven sector.

As part of its modernisation drive, AFAN is further encouraging members nationwide to enrol for the newly introduced Digital ID Card.

Mudi said the initiative will improve transparency, ensure proper farmer identification and make it easier to access support programmes and services.

Reaffirming the association’s long-term goal, he said the vision of national food sufficiency by 2030 remains achievable if unity and collaboration are sustained.

He expressed optimism that with collective effort, Nigeria’s agricultural sector can overcome its challenges and deliver a more secure and prosperous future.

Lady Usendi