Nation
AfCFTA: Osinbajo Highlights Policy Actions To Drive Africa’s Industrialisation
Vice President Yemi Osinbajo says the African Continental Free Trade Area (AfCFTA) offers limitless opportunities for the industrialisation of Africa.
Osinbajo said that authorities across the continent must take the right policy actions to actualise the prospects in AfCFTA such as the protection of local industries and improving value chains.
Osinbajo’s spokesman, Laolu Akande, in a statement yesterday in Abuja, said the vice president delivered a pre-recorded message at a Roundtable on Industrialisation in Africa.
The theme of the event organised by the Manufacturers Association of Nigeria (MAN) to celebrate its Golden Jubilee, is “Positioning African Industries for Economic Transformation and Continental Free Trade.”
The vice president said that AfCFTA was indispensable if industrial development was to take off in Africa because it offered wider markets and economies of scale which were essential for manufacturing to be competitive.
“We must take policy actions to create an environment in which businesses can thrive.
“To start with, we must adopt the right type of macroeconomic and industrial policies.
‘It is important for African governments to provide a stable macroeconomic environment which avoids and smoothens out volatility in prices, sharp deteriorations in the current account and budget deficits and of course, rapid accumulation in debt burdens.”
Osinbajo said that on the industrial side, policies like tariffs, quotas, subsidies and non-tariff barriers which protected infant industries so that they could create jobs and enable learning were vital.
According to him, well negotiated rules of origin are important in the context of the free trade agreements as they are key to preventing trans-shipment and the deflection of trade.
He said that, without them, firms from non-state parties could set up simple labelling operations in one member state with a view to shipping already finished products to another member state without really adding any value.
Nation
HYPREP Marks 15 Years Of UNEP Report, Highlights Major Cleanup Milestones
In a statement signed by the Project Coordinator, Prof Nenibarini Zabbey, to commemorate the anniversary, HYPREP described the anniversary as a significant milestone in Nigeria’s environmental restoration efforts, noting that the project has made remarkable progress in implementing the recommendations of the landmark UNEP report released on August 4, 2011.
The UNEP report had revealed extensive oil pollution across Ogoniland, severe environmental degradation, and serious public health risks resulting from decades of petroleum operations. It also recommended an initial $1 billion fund to commence the cleanup of the affected communities.
According to HYPREP, the Federal Government formally launched the Ogoni clean-up in 2016, while the Project Coordination Office was established in 2017 to drive the implementation of UNEP’s recommendations.
Zabbey said the current administration has continued to prioritise the project under the Renewed Hope Agenda.
Providing an update on the cleanup, the Project Coordinator disclosed that 30 of the 65 contaminated sites identified by UNEP have been fully remediated, while work is ongoing at several medium- and high-risk locations. It also stated that more than 1.5 million mangrove seedlings have been planted as part of what it described as the world’s largest restoration of oil-degraded mangroves, with over 1,000 hectares of shoreline already rehabilitated.
Zabbey further revealed that 49 Ogoni communities have been connected to potable water schemes through multiple water projects and booster stations aimed at providing safe drinking water across the region.
In the health sector, he said the 100-bed Ogoni Specialist Hospital in Kpite and the 43-bed Cottage Hospital in Buan are nearing completion, adding that several existing health facilities have been upgraded with modern medical equipment, while five ambulances have been donated to improve emergency healthcare services. The Project Coordinator also disclosed that a three-year human health biomonitoring study is being conducted in collaboration with the World Health Organization’s International Agency for Research on Cancer (IARC).
On economic empowerment, Zabbey stated that the Project has created more than 8,000 direct jobs and trained thousands of Ogoni youths and women in various vocational and technical skills, including software development, cybersecurity, aviation, commercial diving, seafaring, mechatronics, and creative arts. The project also reported awarding scholarships to more than 1,000 students, providing grants to small businesses, and supporting persons living with special needs through skills acquisition programmes.
The statement further highlighted ongoing legacy projects, including the Ogoni Power Project and the Centre of Excellence for Environmental Restoration, which it said is about 96 per cent complete. HYPREP also welcomed the recent designation of the Ogoni Wetland as a Ramsar Site of International Importance and pledged to continue promoting biodiversity conservation and sustainable management of the ecosystem.
Marking the anniversary, Zabbey said the progress achieved over the past 15 years demonstrates the collective commitment of government, development partners, stakeholders, and local communities to restoring Ogoniland. He called for renewed collaboration to sustain the cleanup effort, promote environmental sustainability, and support the long-term development of the region. 3
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