Business
Declare State Of Emergency In Power Sector, LCCI Tells FG
The Lagos Chamber of
Commerce and Industry (LCCI), has urged the Federal Government to declare a state-of-emergency in the power sector, saying electricity was critical to nation’s economic recovery.
Director-General of the chamber, Mr Muda Yusuf, made the call in an interview with newsmen in Lagos, yesterday.
Yusuf said that adequate power supply was integral to recovery and diversification of Nigeria’s economy.
“There is a need to think out of the box and deal with the power issue as an emergency. The nation cannot move forward with the current state of the power sector.
“Whatever needs to be done should be done, and very urgently too, because the pressure of high energy cost on businesses and the citizens is becoming challenging,” he said.
He said that the shocks of the declining economy were profound because policy responses to the trajectory of the situation were late in coming.
According to Yusuf, government should fast-track opening up of infrastructure space for private sector investment to bridge the challenge of infrastructure deficit.
“Although there have been policy pronouncements in this regard, time is of the essence.
“The increase in fuel price has taken a toll on transportation costs and many middle class car owners are not able to sustain their vehicles on the road.
“There should be urgent investment in mass transit vehicles to mitigate the pains of the middle class car owners,’’ he said.
He suggested that existing flexible exchange rate policy should be sustained to ensure liquidity in the foreign exchange market, restoration of investors’ confidence and global financial community.
“There is the need to restore credit lines that have been lost in the last one year because of the credibility crisis,” Yusuf said.
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
-
News2 days agoFG approves 3 critical civil service policies
-
Education1 day ago500 Teachers Recruited in Zamfara as Part of Education Reforms
-
Business1 day agoSenate Orders NAFDAC To Ban Sachet Alcohol Production by December 2025 ………Lawmakers Warn of Health Crisis, Youth Addiction And Social Disorder From Cheap Liquor
-
News1 day agoClub President Lauds Fubara Over Development Strides
-
Opinion1 day agoFubara’s Strategic Masterstroke
-
Sports1 day agoOML 58 Football Tournament Kicks Off
-
Nation2 days agoTinubu Committed To Environmental Sustainability, Benefits To Ogoni–Minister
-
Education1 day agoOpobo students honours Fmr LGA boss for education development
