Business
Unemployment, Poverty: Obasanjo Harps On Investment
Former President Olusegun Obasanjo has said that more investment in business would serve as insurance against unemployment and poverty in Africa.
Obasanjo made the observation while speaking at the 3rd Economic Community of West African States (ECOWAS) Investment Forum in Lagos.
He spoke on the forum’s theme: The African Opportunity: Spotlight on West Africa.
Obasanjo said that insecurity, corruption, inadequate infrastructure and lack of regional economic integration were the bane of investment in businesses in many African countries.
According to Obasanjo, investors will hesitate to set up businesses in a region that offers no sign of good returns on their investments.
“Investors can be very choosy about where they go. “They are usually reluctant to go where there are no signs for future growth. “Selecting an area to invest calls for lots of intelligence, great knowledge and mission,” he said.
Obasanjo said that investment in one West African country could affect other markets and create opportunities in the others.
“West Africa is a region that is naturally and richly endowed. “The sub-region is the gateway to Africa’s possibility for growth. “It has the largest population of about 300 million people and 15 countries. “ECOWAS simply needs to make its regional and economic body ensure free movement of goods and services within member countries,” he said.
The Minister of State for Trade and Investment, Mr Samuel Ortom, said that the Nigerian government was committed to the diversification of the economy to create investment opportunities.
He said that Nigeria was one of the fastest growing economies in Africa, thereby making it an investment destination for international investors.
“There are opportunities for investment in our oil and gas, agro-allied, solid minerals and manufacturing sectors, “ he said.
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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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