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NBCC Urges Vibrant Export System To Improve Trade Balance

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The President,  Nigerian-
British Chamber of Commerce Mr Adeyemi Adefulu, has called for a vibrant export system to improve the nation’s economy and balance of trade with Britain.
Adefulu told the our correspondent recently that Nigeria could leverage on the large population of Nigerians in the Diaspora by increasing its existing export to Britain.
“There are nearly three million Nigerians living in Britain. There are more Nigerians living in Britain than anywhere else in the world outside of Nigeria.
“That is a market into which we should be exporting daily. There are lots of goods that can be exported to Britain. It is a natural market for our export, even for food.
“But you will be surprised that at this point in time more than 80 per cent of food Nigerians in Britain eat are exported by other countries and not Nigeria.
“Pineapple and yam come from Ghana; Garri is being exported from Ghana, even though they do not eat garri much in Ghana.
“The same thing with cassava ‘foo-foo’ otherwise called ‘Akpu’ which the Ibos here eat, they have the equivalent in Ghana which is being exported to our people in Britain.
“Banana and plantain come from Costa Rica, even ‘Ewedu’ comes from Egypt, the Nile. These are things we should be exporting daily,’’ he said.
Adefulu said that managing the process, value chain and product quality becomes imperative for Nigeria to harness and benefit from the existing bilateral trade with Britain.
“You will not be dumping your plantain and banana the way we dump them here and they will find acceptance. It is only in Nigeria that such will sell they will not sell in other places.
“When a bunch of plantain is harvested, they hang it like that and then export them properly with respect.
“We must give emphasis to quality because Nigerian products have bad storage system and that is affecting everything we do.
“When the products get there, they will reject it because they know we will not comply with the quality standards,’’ Adefulu said.
He urged the government to build infrastructure to support export and create the right financial environment and encourage training of operators who are adding value to export promotion in the country.
“If export thrives, the trade is worth several billions, but you must build the necessary infrastructure; put the right financial intermediation in place and train your exporters.
“There are many goods that can be exported, including flowers and vegetables but when you get to our airports there are no cold room facilities there.
“The goods get to the airport in the morning, remain in the sun all day, by the time they are exported in the evening, they are dead.
“That is a great discouragement for export. If we really want to get export right, these are things that must be attended to.
“In Ghana, all those agricultural products, do not queue. They are given a fast track to the top of the line. They are treated as national priority,’’ Adefulu said.
He urged the government to give the necessary buffer and support to exporters by looking at the risk and help them to mitigate it.
“The government must take it as an article of faith for the survival of our economy,’’ he said.

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PENGASSAN Tasks Multinationals On Workers’ Salary Increase 

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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.
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SEC Unveils Digital Regulatory Hub To Boost Oversight Across Financial Markets

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

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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
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