Nation
Chamber Predicts Rise In Inflationary Rate In 2021
The Lagos Chamber of Commerce and Industry (LCCI) says inflation rate will rise in 2021.
The chamber made the assertion in its Economic Review for 2020 and Outlook for 2021 made available to newsmen, yesterday in Lagos.
Its Director-General, Dr Muda Yusuf, attributed the projected inflation outlook for the incoming year to the combination of food supply shocks, heightened insecurity in major food-producing states, foreign exchange policies, illiquidity and higher energy costs.
“We, however, believe a broad-based harmonisation of fiscal and monetary policies towards addressing the identified structural constraints will significantly help to moderate inflationary pressure in the medium term,’’ he stated.
On sectorial review and outlook, the LCCI’s D-G said performance was largely weak across sectors in the third quarter of 2020 because of lingering effects of Covid-19 disruptions.
Yusuf stated that the trend would likely persist into the last quarter of 2020 and the first quarter of 2021 as the economy gradually recovers from the recession.
He noted that a resurgence of Covid-19 pandemic would cause another disruption in activities in the oil and non-oil sectors.
“We expect Information, Communication Technology, financial institutions, and agriculture to drive growth in the non-oil sector in the short-term while the country’s commitment to Organisation of Petroleum Exporting Countries (OPEC) agreement is expected to dampen recovery prospects of the oil sector,’’ he stated.
On Agriculture, the LCCI’s D-G said he foresaw the CBN sustaining its intervention in the sector in year 2021 in a bid to boost domestic food production and minimise food supply gap.
“While the ban on importation of rice, poultry and other agricultural commodities still subsists amid border reopening, there is risk of resurgence of smuggling of agricultural products into the country considering the porous nature of Nigeria’s land borders.
“This, combined with the commencement of Africa Continental Free Trade Area (AfCFTA), could see Nigeria being a destination for imported food products in the absence of adequate border monitoring measures.
“Additionally, heightened security concerns around the country, especially in the northern part and resurgence in herder-farmer conflict in the Middle Belt, the southwest and southeast, if unaddressed, will hamper local food production in the near term.
“Nonetheless, we expect a modest growth performance in year 2021,’’ he said.
As outlook for the manufacturing sector, Yusuf said the reopening of the land borders should provide succour to the sector even as the kick-off of AfCFTA serves as an avenue for manufacturers to penetrate new African markets.
He noted that critical challenges currently beguiling the sector alongside the new competitiveness pressure foisted by the AfCFTA might dampen the recovery prospects of the sector in year 2021.
“We expect the CBN to sustain its intervention efforts in the manufacturing sector as part of measures to boost economic recovery.
“We see the CBN maintaining policies that support credit extension to the real economy.
“The low interest environment in the money market favours big manufacturing players in terms of raising cheap capital, but the business environment will remain challenging for manufacturing SMEs.
“In our view, credit flows to the manufacturing sector will fail to achieve desired outcomes without putting in place measures to address structural, bottlenecks in the ports and customs processes and other policy challenges to productivity.
“Thus, we see growth of the manufacturing sector being subdued in the near to medium term,’’ he said.
Yusuf said the banking industry was expected to sustain positive growth trajectory in Q4-2020 amid the numerous regulatory limitations.
“We expect CBN to maintain its regulatory surveillance in the industry in ensuring the industry is financially sound amid evolving Covid-19 disruptions.
“Resurgence of Covid-19 pandemic, oil price volatility sluggish economic recovery and lingering external pressure are major downside risks to the growth prospects of the banking sector in year 2021.
“Loan-to-Deposit-Ratio policies drove the impressive performance in Q1-2020 by 24 per cent and Q2-2020 by 28.41 per cent.
“Momentum eased in Q3-2020 (6.8 per cent) as banks became more reluctant in providing credit to business given weak macroeconomic conditions.
“Nevertheless, banking industry remained financially sound with Capital Adequacy, Non-Performing Loan Ratio and Liquidity Ratio at 15.5 per cent, 5.73 per cent and 35.6 per cent as of end-October 2020, respectively,’’ he said.
The LCCI’s D-G said the oil sector would further contract in Q4-2020 in the light of lower production in compliance to OPEC+ agreement.
“We note OPEC+ has agreed to ease supply cut by 0.5 million barrels per day starting from Jan. 1, 2021 due to sluggish recovery in fuel demand, much lower than 2.0 million barrels per day earlier planned.
“Crude oil production will likely be lower in year 2021 as OPEC+ sustains efforts to prevent oil glut.
“We project that OPEC+ will be cautious in relaxing output reduction given the uncertainties around Covid-19 pandemic and global oil demand.
“Thus, we expect oil and gas sector growth to be subdued in year 2021 on the continued implementation of OPEC+ Declaration of Cooperation and weak oil price outlook.
“Also, increasing preference for renewable energy globally will put downward pressure on crude oil demand and prices. We are not optimistic of a significant growth performance in oil industry in year 2021,’’ he said.
He said that considering the dim outlook for revenue in the face of weak economic fundamentals, government would most likely underperform its revenue projections with attendant impact on fiscal deficit and debt portfolio.
“Budget deficit for year 2021 is expected to remain elevated above the projected N5. trillion and this poses a risk to Nigeria’s fiscal sustainability.
“We believe the Federal Government will be inclined towards securing concessionary borrowings with low interest rate and long maturity profile in the global market, rather than raising Eurobonds, especially now that the country is faced with foreign exchange scarcity,’’ he said.
Nation
HYPREP Reaffirms Support For Ogoni Youths …Organises Workshop For Undergraduates

In pursuit of its strategic human capacity development initiatives, the Hydrocarbon Pollution Remediation Project (HYPREP) has restated its commitment to supporting Ogoni youths to maximally benefit from its projects and programmes that align with their visions and aspirations.
The Project Coordinator of HYPREP, Prof Nenibarini Zabbey, who gave this indication during the second edition of the international career enhancement and employability workshop organised by the Project for undergraduates and fresh graduates of Ogoni ethnic nationality in Port Harcourt, assured the participants of its commitment to continually initiate programmes that support their visions and aspirations.
He noted that the workshop reaffirms the Project’s commitment to inclusiveness and continuous skills development, as strategic pillars in its efforts to restore and improve livelihoods in Ogoniland.
He said the workshop was aimed at equipping the Ogoni youths with relevant career skills and empower them with employability tools, to ensure that HYPREP’s gains extend beyond remediation into long-term transformations, stressing that the Project is committed to supporting their dreams.
”HYPREP is committed to supporting your dreams through targeted initiatives, such as this workshop and we will explore ways to empower you with the skills and knowledge necessary to succeed.
I want to emphasise that this workshop is not just about enhancing your career prospects; it is also about building a community of young people and equipping you to make a positive impact in your communities. As you benefit from HYPREP’s interventions (and the experiences of the facilitator), I challenge you to take the message of peace and constructive engagement to your communities and live accordingly,” he said.
Zabbey further assured that HYPREP would continue to stand with Ogoni youths by supporting their aspirations through targeted workshops and broader livelihood initiatives that prioritise their development, noting that the Project believes in them and remains committed to creating platforms where their potential can be nurtured and realised.
The Project Coordinator enjoined them to continue to contribute to the success of HYPREP.
The second edition of the career enhancement and employability workshop had Dr Akanimo Odon and Dr Chioma Okonkwo as facilitators, while the participants were drawn from the four Ogoni local government areas.
Among other modules, participants at the two-day workshop were provided with tips on ways to explore opportunities in seemingly challenging situations, discover themselves, convert hobbies and interests into passion and profits through three career e-routes and understand the power of networks and partnerships.
Participants were also given useful nuggets, career resources of time and skills, and career resources of funding, especially how to access foreign scholarships and funding.
At the closing, HYPREP’s Director of Technical Services, Prof Damian-Paul Aguiyi, urged the participants to earnestly pursue their passions and commit to their dreams.
Meanwhile, the participants expressed gratitude to HYPREP for organising the workshop, which they described as impactful and transformative.
HYPREP has continued to be intentional in its efforts to prioritise human capacity development in Ogoni through such workshops and trainings. This year, the Project will be rolling out trainings in high demand skill areas like mechatronics, underwater welding, commercial diving, full-stack development and GIS, targeting the youths as major beneficiaries and giving them a fair head start and comparative advantage in a highly competitive environment.
Nation
NIPR Practitioners Urge To Go Beyond Traditional Media Relations To Strategic Leadership Functions
The Public Relations practitioners across Nigeria have been charged to go beyond the perceived roles of media relations and protocol services to strategic leadership functions that is crucial to shaping and transforming the nation.
In his message at this year’s (2025) World Public Relations Day, with the Theme: ” Building Bridges, Navigating Polarisation” In Port Harcourt, The National President of the Nigeria Institution of Public Relations Dr. Ike Neliaku expressed delight to address members and guests on this special day, pointing out that the day offers a an opportunity to reflect on the journey over six decades since Public Relations formally birthed in Nigeria.
He maintained that this year’s world Public Relations day gives opportunity to members to reflect on the actions and inactions towards the development of the profession and to boldly develop new frontiers for a greater institution.
The NIPR president explained that the values of Public Relations particularly in areas of fostering relationship, strengthening leadership and advancing good governance remain a key -through effective and goal- oriented communication.
Earlier, The Vice Chancellor of Rivers State University, (RSU) Prof. Isaac zep-Obipi being represented by the Deputy VC admin Prof. Victor Akujuru throw challenge to NIPR members to rebranding and portray the state in good light, standing that RSU remains a state owned institution that have not witness any strike in the passed fifteen years.
Also in his speech, the state chairman NIPR Rivers Chapter Rev. Francis Asuk described world Public Relations day as a day set aside to pay attention to the works of public relations globally indeed that relationship is important that the world is crying about in rebuilding relationship due to the collapsed of the value systems at family, society and world level of human existence.
” At the highest level of human existence relationship has become imperative for all practitioners to come together and build bridges to navigates those Polarisation” he said.
In a related development,the keynote speaker Rev (Fr.) Prof. Walter C.Ihejirika, said the media has a lot to do especially on its role of enlightenment to the public about the role and function as a key element in the development of a better society.
Prof. Ihejirika who is the Dean faculty of Communication and Media Studies , University of Port Harcourt, stressed that when media practitioners navigate on the area of strategic communications with a goal, then the public will be better informed and know that they have a responsibility for the large society, “because if the large society is not good, the organization cannot function effectively.”
Nation
FG Restates Commitment To Seafarers’ Welfare, Safety
The Minister of Marine and Blue Economy, Adegboyega Oyetola, has reaffirmed the Federal Government’s commitment to enhancing the safety of the seafaring profession and upgrading maritime institutions to international standards.
Speaking at the 2025 World Seafarers’ Day celebration in Port Harcourt on Wednesday, organised by NIMASA, with the theme, “My Harassment-Free Ship.
He said that this year’s theme “speaks to our collective duty to make every ship a safe and respectful workplace noting that harassment and bullying have no place in our maritime industry.
The Minister further emphasised the importance of continuous training and retraining to ensure seafarers remain competitive and employable.
Also speaking, the Minister of Labour and Employment, Muhammadu Maigari, emphasised that seafarers are the backbone of international trade, facilitating the smooth transportation of goods and services across the globe.
He stressed the need to eliminate all forms of violence, harassment, and bullying against seafarers.
In his welcome address, the Director-General of NIMASA, Dr. Dayo Mobereola, emphasised the need for the maritime community to prioritise the welfare, safety of seafarers and maintain zero tolerance for harassment.
According to the DG, “Today provides opportunity for the Maritime Community to honor seafarers globally for their immense contribution to both domestic and international trade, powering the blue economy and connecting nations across oceans”.
He said that this year’s theme was particularly apt, as it was a call to action to “ensure that our seafarers feel safe, are valued and protected while at sea because the ship is not just their place of work; it is their temporary home. It must therefore reflect the highest standards of dignity and professionalism fostering zero tolerance for harassment”.
He declared that NIMASA must continue to play its part in ensuring that Nigeria contributes effectively to regulations affecting seafarers, as Nigeria remains the highest contributor of seafarers in Africa. “Our men and women sail on vessels in our domestic waters and also globally. This will continue to grow through the Nigerian Seafarers Development Program (NSDP) and the effort of our Maritime Training Institutions.
‘At the recently concluded 113th session of the International Labour Conference held in Geneva, seven (7) amendments to the MLC 2006 code addressing a broad range of issues affecting seafarers, including the recognition of seafarers as key workers, improved protection against ship board violence and harassment, enhanced access to shore leave and repatriation and updated medical and occupational safety standards were approved by an overwhelming majority.
These seven (7) amendments reflect collective global effort to align maritime Labour standards with the evolving landscape of global shipping.
I, therefore, call on shipowners, operators and crewing agencies to begin to review their operational manuals to align with these amendments ahead of the expected entry into force in December 2027. Our seafarers must be able to report grievances without fear of retaliation, while also ensuring protection against vexations or malicious complaints.
He added that NIMASA will play its role by establishing clear policies and procedures for preventing and addressing harassment on Nigerian-flagged vessels, ensuring confidential reporting channels for incidents of harassment and that reports are thoroughly investigated and addressed.
“Today is a clear reminder to us all – government, employers, unions, shipowners, and civil society- that seafarers should not be left alone in their struggles. They look up to us to help them foster a culture of zero tolerance on ships to protect their dignity”, he stated.
He also assured that under his leadership, NIMASA will ensure compliance with regulatory requirements, particularly the renewal of entries into force by ship owners, operators, and relevant agencies come December 2027.
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