Business
Maritime Expert Wants Balance Of Trade With Nigeria’s Trading Partners
Port Consultative
Council (PCC) Chief Kunle Folarin, the Chairman, has said Nigeria should always maintain balance of trade with its trading partners.
Folarin told reporters in Lagos last Wednesday that Nigeria must benefit from its trade relations with any country.
He, however, said that such countries could engage in direct investments in the country, even if “it is not exporting any commodity to them in return’’.
“When you look at Nigeria as an import-dependent country, where we import over 100 million tonnes of cargo directly every year, and we are not able or strengthened to take part of it.
“Then, that is an indicator; performance indicator we have to look at.
“We have to also look at the bilateral trade, which is skewed towards the country which we traditionally trade with.
“If we are buying or importing from for example Thailand, may be 25 tonnes of rice a year, what is Thailand buying from us?
“So, we have to look at it for other countries too for which we are buying huge commodities regularly, even in terms of investments in the country.
“We have to see whether we are buying from them and they are investing, not necessarily in the same commodity, but they are investing in the country.
“It will even be better if they are buying our exports so that the balance of payment position will be fair.’’
Folarin said that a nation’s export performance determined its foreign exchange earnings.
He called for strengthening of the export platform by developing the agricultural sector.
Business
FEC Approves Concession Of Port Harcourt lnt’l Airport
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.”
Business
PHCCIMA Leadership Hails Rivers Commerce Commissioner for Boosting Business Ties …..Urges Deeper Collaboration to Ignite Economic Growth
