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.
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Haniel Jack Foundation Awards Five Rivers Indigenes Scholarship
The Ibanibo Haniel Jack Foundation has awarded scholarships to five Rivers State indigenes in different tertiary institutions.
The scholarship programme was announced on Easter Sunday by Rev. Dr. Samuel Wachukwu, who is also the presiding pastor of Redeemer Baptist Church, at No. 44/46 Lumumba Street, Mile Two Diobu, in Port Harcourt.
Speaking, the chairman of the occasion, Barrister Karibi George, advised the recipients to justify the scholarship by ensuring that they put in their best and finish at the expected time.
George reminded them that opportunity comes but once and they should take advantage of the opportunity that comes their way judiciously.
“Those of you who are beneficiaries of this scholarship should also remember to help others and the resurrection of our Lord Jesus Christ.
“I advise you to justify the opportunity given to you and make the man who gave you the scholarship, yourself, and your family proud,” Barrister George said.

He explained that the scholarship spans undergraduate and postgraduate levels in various high institutions in Nigeria. He thanks Sir Jack for the gesture.
The scholarship is to promote education in our society, most especially for Rivers indigenes, and equally assist those who cannot immediately afford tuition fees.
It will interest you to know that
The scholarship was borne out of God’s blessings, and this is a way to give back to the society. Besides, two of the beneficiaries are direct employees of the chairman of the foundation, sir.
Ibanibo Haniel Jack, who is also the chief executive officer (CEO) of White House Hotel, in Port Harcourt.
Chief Prezi Diffa, while presenting the awards, commended Sir Ibanibo Haniel Jack, who has deemed it necessary to give back to society.
Chief Diffa equally advised the beneficiaries to take their academics seriously and count themselves lucky.
“The man who has given you this scholarship wants to better your lives, so please put in every effort to ensure you finish the school with flying colors,” Chief Diffa said.
The beneficiaries are Isoboye Haniel Douglas, Naomi Douglas, Charles Batubo, Ajé Sokari, and
Dakoru Owen Amachree.
Tonye Orabere
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