Business

AU Set To Improve Intra-Africa Trade

Published

14 years ago

July 18, 2012

The Chairman of the AU Commission (AUC), Dr Jeaa Ping recently said that arrangements had been concluded to improve trade between African countries from the current 10 per cent to a higher level.

Ping said this in Addis Ababa at the opening session of the 19th Summit of African Heads of State and Government.

He stressed that while trade between African countries remained at 10 per cent, countries from other continents had attained more than 30 per cent trade improvement among the states.

Ping said that the Commission was working toward correcting the perceptible anomalies, while reviewing the implementation of previous agreements to improve Africa’s economic growth and development.

“For Africa to develop there is a need to strengthen her trade with other continents. It is also imperative to improve maritime transportation and agricultural development,’’ he said.

Ping, however, said that in the last six months, the AUC had initiated an agenda for Africa’s educational development through the new Pan AfricanUniversity, which would commence its academic session in September in five centres located across the continent’s five regions.

He said that the Commission was making efforts to ensure the sustainability of the university and its programmes.

Ping said that the priority focus of the AUC was also on areas such as capacity building, resource mobilisation, infrastructure and transport sector.

He said that the Commission had also strengthened its partnership with development partners such as the G8, G20 and Rio+20, among others, as part of its efforts to fast-track the development of the continent.

On peace and security, Ping said that the Commission had initiated some conflict prevention strategies via the AU Border Programme, as issues relating to national boundaries had been a major source of conflicts between African countries.

Ping commended ECOWAS for its efforts in restoring peace and security in Mali and Guinea Bissau and the Southern African Development Community (SADC) for its role in managing the crisis in Madagascar.

He pledged that the AUC would continue to work with all member states in efforts to strengthen their democratic process.

The AUC chief said that the Commission would also collaborate with member states in sustained efforts to fight organised crime, drug and human trafficking and in efforts aimed at eradicating conflicts.

“We need to translate the dreams of our founding fathers into reality; we also have to meet the aspirations of Africans, especially our youths,’’ Ping said.

Ping condoled with the government and people of Nigeria over the recent fuel tanker accident in RiversState, which claimed more than 100 lives.

Speaking, UN Secretary-General Ban Ki-Moon said that the UN would continue to collaborate with the AU in fighting piracy and restoring peace in Guinea Bissau, as well as in curbing trans-border crimes and other illicit activities across Africa

Ban, who was represented by Mr Jan Eliasson, the Deputy UN Secretary-General, said that the UN and the AU would also collaborate to develop a strategy that would address the crises between the Republics of Sudan and South Sudan, as well as the crisis in Mali with the aim of restoring the country’s territorial integrity.

He noted that more than 18 million people were in need of assistance in the Sahel region, while more than one million children in the region were ravaged by hunger and famine.

Ban, therefore, urged the two organisations to collaborate and solve some of the problems affecting the African continent.

In his address, President Boni Yayi of Benin, who is the AU Chairman, said that the summit would adopt an agenda for the work programme, while adopting the 2012 budget of the AUC.

He also said that it would consider the report of the ad-hoc committee on the election of the key AUC officers, adding that it would also appoint three judges for the Africa Court on Human and Peoples’ Rights.

He noted that the summit’s theme — “Boosting Intra-Africa Trade’’ – was apt and pertinent.

The News Agency of Nigeria (NAN) reports that President Goodluck Jonathan was represented at the summit by Amb. Olugbenga Ashiru, the Minister of Foreign Affairs.

NAN further reports that Dr Aisha Abdullahi, Nigeria’s Ambassador to Republic of Guinea, is contesting for the post of Commissioner for Political Affairs in the AUC.

Business

Boat Mishap Kills Pastor, Wife And Church Members In Brass Water

Published

4 days ago

May 18, 2026

The Tide

A boat accident in Bayelsa state has killed a serving Pastor, Wife and other church members along Brass waterways

The sad incident happened at Odioama in Brass local government area of Bayelsa State when the Pastor, wife and members of his church were in a programme.

?Tide confirmed that the lifeless body of the Pastor’s wife has been found and deposited in a mortuary while the remains of her husband ,the Pastor is yet to be recovered

as search party are still ongoing.

Although the real cause of the boat Mishap is not yet known as at the time of this report, our Correspondent gathered that the identities of the Pastor, wife and church members were not disclosed to the public.

The mishap, Tide gathered occurred on Friday morning when the church members were on a boat transit

The Bayelsa State government and the state police command are yet to issue official statement’s on the sad accident

By: CHINEDU WOSU

Business

Rivers Workers Seek Scrapping Of Contributory Pension Scheme

Published

4 days ago

May 18, 2026

The Tide

The Rivers State Council of Nigeria Civil Service Union has called on the State Government to urgently scrap the contributory pension scheme, describing it as unfavourable to long-serving civil servants in the state.

Chairman of the union, Chukwuka Osuma, said this in an interview with newsmen in Port Harcourt, recently.

Osuma said the current pension structure has continued to worsen post-retirement hardship for workers.

He noted that the contributory pension scheme had failed to provide adequate retirement security for workers who had spent many years in service, especially those approaching retirement age.

According to him, civil servants who had served for more than 20 years were among the worst affected under the scheme, insisting that many retirees could no longer cope with prevailing economic realities.

He also informed that the Union has made moves to showcase their concerns, pleading with Governor Siminalayi Fubara to abolish the pension policy and introduce a more favourable arrangement for affected workers.

“The union was not opposed to pension reforms, the contributory scheme should only apply to newly employed workers or those with fewer years in service”, he said.

Osuma explained that workers who had already spent decades in the civil service ought to remain under a more secure pension structure capable of guaranteeing stability after retirement.

The labour leader further noted that inflation and the rising cost of living had continued to erode the value of retirement savings, thereby increasing the suffering of pensioners across the country.

He also appealed to the state government to consider extending the years of service in the civil service from 35 to 40 years and the retirement age from 60 to 65 years.

Osuma argued that such adjustment had become necessary in view of present-day economic realities and changing conditions in the workplace.

The unionist also reviewed that similar policies had already been adopted in some sectors and jurisdictions, expressing optimism that the State could also implement the reforms for the benefit of workers.

He however, commended Governor Fubara for approving an N85,000 minimum wage for workers in the state, noting that the amount was above the national benchmark of N70,000.

Osuma also acknowledged the government’s efforts in the area of workers’ promotions and bonuses, but insisted that pension reforms and extension of years of service remained critical to the long-term welfare and stability of civil servants in Rivers State.

By: King Onunwor

Business

FG Begins South-West Tour To Promote New Cooperative Bank

Published

1 week ago

May 13, 2026

The Tide

The Federal Government has launched the South-West zonal engagement and ministerial advocacy tour on the Cooperative Bank of Nigeria share capital mobilisation, sensitisation and cooperative sector digitalisation.

Reports say the initiative was launched through the Federal Ministry of Agriculture and Food Security.

According to reports, the advocacy tour, organised by the ministry’s Federal Department of Cooperatives, began on Monday in Lagos.

Speaking at the event, the Minister of State for Agriculture and Food Security and Supervising Minister of Cooperative Affairs, Dr Aliyu Abdullahi, said the initiative was part of President Bola Ahmed Tinubu’s Renewed Hope Agenda.

Abdullahi described the exercise as a strategic effort to reposition the cooperative sector as a key driver of inclusive economic growth, financial inclusion, enterprise development, food security and national prosperity.

“Today represents a defining moment in our collective determination to reposition the cooperative sector as a major driver of inclusive economic growth, financial inclusion, enterprise development, food security and national prosperity,” he said.

The minister noted the modern cooperative movement in Nigeria originated in the South-West following the 1934 Strickland Report, which led to the enactment of the Cooperative Societies Ordinance of 1935.

According to him, the decision to commence the sensitisation and share capital mobilisation tour in the region is symbolic, as it marks a return to the roots of cooperative development in the country.

Abdullahi said the advocacy tour was a direct outcome of resolutions reached at the 8th Regular Meeting of the National Council on Cooperative Affairs held in Abuja in March 2026.

He said the council approved the Renewed Hope Cooperative Reform and Revamp Programme, a comprehensive framework designed to strengthen the cooperative sector and align it with the administration’s goal of building a one-trillion-dollar economy.

“The reform programme focuses on seven strategic pillars, including governance reforms, cooperative financing and the establishment of the Cooperative Bank of Nigeria, digitalisation, capacity building, value chain development, inclusion of youths, women and persons with disabilities, and strategic partnerships,” he said.

He said the establishment of the Cooperative Bank of Nigeria and the digitalisation of the cooperative sector were the two major transformational initiatives under the programme.

“The Cooperative Bank of Nigeria is aimed at rebuilding a strong cooperative financial system capable of supporting cooperators, farmers, artisans, traders, SMEs, youths, women and persons with disabilities with accessible and affordable financial services,” he said.

Abdullahi emphasised that the proposed bank would be government-enabled but not government-funded.

“Government is not establishing the bank as an owner, nor will it rely on Treasury Single Account funds.

“The role of government through the FMAFS is to provide policy support, stakeholder coordination, regulatory facilitation and an enabling environment under the Renewed Hope Cooperative Reform and Revamp Programme,” he said.

Also speaking, the Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folashade Ambrose-Medebem, reaffirmed the state government’s commitment to cooperative sector transformation.

She described cooperatives as critical tools for promoting inclusive growth, grassroots productivity, food security, financial inclusion and community wealth creation.

Ambrose-Medebem said Lagos State would continue to support reforms and collaborate with stakeholders to ensure the successful implementation of the Renewed Hope Cooperative Reform and Revamp Programme (2025–2030).

“Together, let us build a cooperative ecosystem that is modern, transparent, digitally enabled, financially inclusive and globally competitive.

“Let us build cooperatives that not only mobilise savings, but also mobilise prosperity,” she said.