Business
EU To Help Reposition Nigeria’s Economy
The Head, Economic
Governance and Trade Cooperation, European Union (EU) Delegation to Nigeria and ECOWAS, Mr Juan Casla, said EU was willing to help review the Nigeria Trade Policy (NTP) and Strategy to reposition the economy.
Casla told The Tide source in Abuja on Wednesday that the new policy would focus on diversifying export, a more value added production and industrialised products in Nigeria.
“Nigeria cannot rely much longer on export of oil; so it should try to diversify export.
“The structure should also try to have a more added value added production and focus on industrialised products in Nigeria.
“And apart from that, it will involve getting Nigeria more involvement in the regional integration processes that is taking place in the ECOWAS.
“So these are the three important elements that are going to determine this trade policy we believe,” he said.
He said that the EU was aware of the country’s industrial revolution plan adding that important structures needed to be in place to enable the country to actualise the plan.
Casla said EU, in partnership with the United Nations Industrial Development Organisation (UNIDO), was improving the quality of infrastructure in the country.
According to him, the objective of this project is how we can improve the Nigerian infrastructure to improve the quality of its products, particularly industrial products.
“We are working on an important project with our partner UNIDO and the objective of this programme is to improve the Nigerian infrastructure to improve the quality of its products, particularly industrial products.
“There needs to be a strong standardisation agency and there needs to be good information about standards for private companies.
“There needs to be a good system of laboratories that provides quality testing of industrial products so that they can be available for domestic consumption and exports.
“There should be a good accreditation system by which the public authorities can identify that this laboratory is good and that its tests can be accepted by the market,” he said.
The EU representative said the organisation was also supporting the Federal Ministry of Industry, Trade and Investment with technical assistance in many fronts in line with its cooperation programmes with Nigeria.
Casla said the EU was determined to get Nigeria involved more in regional economic integration processes that Economic Community of West African States (ECOWAS) was currently carrying out.
According to Casla, ECOWAS is currently undergoing a very ambitious trade liberalisation process that involves elimination of customs barriers and harmonisation of standards.
He said that trade between Nigeria and regional countries would increase with the country’s focus on diversification of export products.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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