Business
… Blames Unemployment On Industrial Crisis
The Chairman of FBN Capital, an investment firm, Mrs Ibukun Awosika,on Tuesday attributed the high unemployment rate in the country to the challenges in the manufacturing sector.
Awosika said in Lagos that the manufacturing sector had always provided high numbers of employment in any economy.
She said that the crisis in the manufacturing sector had also impacted negatively on the insurance industry.
According to her, the country has not given adequate support to the manufacturing sector.
“Many factors are destroying the manufacturing sector in Nigeria and this has affected the insurance industry.
“This is the time to create a sinking fund to enable the sector apply resources to compete with the Chinese.
“Even in the agricultural sector, the agro-allied industry has a value chain,” she said.
She said that attention should be focused on the development of the Small and Medium Enterprises (SMEs), especially in areas where the nation had comparative advantage.
Awosika said that Nigeria must invest in the training and tooling of the sector to develop its manpower.
According to her, there cannot be industrialisation without skills acquisition.
The FBN?capital chairman said that there was the need to create industrial clusters and communities such as fashion village, farmers market and furniture village, among others.
She said that with the creation of clusters and with ?common facilities like electricity, water and heavy equipment, the cost of industrial production would be lower.
Awosika, who is the promoter of After School Graduate Development Centre, said that it was only after skills were acquired that they could be exported.
She said that insurance industry, on its part, had to think of new policies and products that would support it. ?
Business
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Business
Senate Orders NAFDAC To Ban Sachet Alcohol Production by December 2025 ………Lawmakers Warn of Health Crisis, Youth Addiction And Social Disorder From Cheap Liquor
The upper chamber’s resolution followed an exhaustive debate on a motion sponsored by Senator Asuquo Ekpenyong (Cross River South), during its sitting, last Thursday.
He warned that another extension would amount to a betrayal of public trust and a violation of Nigeria’s commitment to global health standards.
Ekpenyong said, “The harmful practice of putting alcohol in sachets makes it as easy to consume as sweets, even for children.
“It promotes addiction, impairs cognitive and psychomotor development and contributes to domestic violence, road accidents and other social vices.”
Senator Anthony Ani (Ebonyi South) said sachet-packaged alcohol had become a menace in communities and schools.
“These drinks are cheap, potent and easily accessible to minors. Every day we delay this ban, we endanger our children and destroy more futures,” he said.
Senate President, Godswill Akpabio, who presided over the session, ruled in favour of the motion after what he described as a “sober and urgent debate”.
Akpabio said “Any motion that concerns saving lives is urgent. If we don’t stop this extension, more Nigerians, especially the youth, will continue to be harmed. The Senate of the Federal Republic of Nigeria has spoken: by December 2025, sachet alcohol must become history.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
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