Business
AGOA: Centre Blames African Govts For Failure
The World Trade Centre, Miami, United States has blamed inadequate funding by African governments for the poor showcasing of African products under the African Growth Opportunity Act (AGOA)
The Centre’s Director, African Trade Expansion Programme, Yemi Arosanyin, said this at the ongoing 24th Annual General Meeting (AGM) of the African Export-Import Bank (Afreximbank) in Kigali, yesterday.
According to Arosanyin, African governments are not utilising the opportunities presented by AGOA to aid growth of small businesses.
“For instance, contrary to reports, most Nigerian products are good and sophisticated, the challenge has been government’s poor funding in the appropriate areas to promote the products.
“There are agencies responsible for the promotion of these products, which need to fine tune the products for them to be accepted in the U.S.
“The Federal Government needs to do more in this regard. The funding needs to be fast because AGOA has only eight years left before it will either be stopped or reviewed by the American government,’’ she said.
She added that Nigeria apart from crude had a lot to export to the U.S. in the areas of food and beverages, fashion and art works.
According to her, these products require little push to compete favourably at the international markets, except for South Africa no other African country out of the 38 countries under AGOA benefits from non-oil products.
Arosanyin said that to achieve much from AGOA, the centre had partnered Afreximbank to help African countries overcome the challenges by promoting their products.
The Tide source reports that the theme of this year’s AGM is: “Transforming Africa’s Trade’’.
Business
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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.”
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