Business
Africa Closes Market Against EU Goods
Africa Union Ministerial Committee has said that African countries were not ready to leave their markets open for European goods.
The AU Commissioner for Trade and Industry, Mrs Elizabeth Tankeu told newsmen in Munyonyo, Uganda, that opening up African market to European goods as demanded by the European Union would further put the economy of the continent into crisis.
She explained that the type of trade going on presently in the continent was not good enough for the growth of the economy, because it further kept the continent in poverty.
According to her, investment in the continent at present is based on exportation of raw materials, which in turn come back to the continent as finished products.
The Commissioner challenged African businessmen and investors to take the bold step of adding value to products coming from the continent by processing them before exportation.
Tankeu noted that the new partners want to do business with the continent, but they are also demanding for less strict or restrictive measures.
The AU Commissioner pointed out that the global economic recession had slowed down the economic growth of the continent by about 0.9 per cent.
Reports quote Tankeu as saying the economy of the continent would drive the world economy in a couple of years because of the various potentials open to it.
According to her, the AU and the EU have been taking on areas of partnership and assistance, while the AU has been drawing the attention of the EU to key issues that were causing problems.
Tankeu urged African leaders to position themselves to take advantage of the numerous opportunities open to the continent, saying that the financial institutions should be more operational.
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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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