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Economist Wants Conducive Environment For Investors

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An economist, Prof. Segun Ajibola, has advised the Federal Government to accord priority to friendly business environment for investors in  implementing the Economic Recovery and Growth Plan (ERGP).
Ajibola gave the advice in an interview with newsmen during the just concluded 23rd Nigeria Economic Summit (NES#23) in Abuja on Thursday.
Ajibola, President/Chairman of Council, Chartered Institute of Bankers of Nigeria, said that what defined conduciveness was policy stability, rather than policy somersault.
“If an investor knows for certain that he is coming to invest under these terms and conditions that are stable and predictable, he can come freely and go when he wills.
That will facilitate business, so government must ensure that there is stability in the system through stability in policy making and implementation,’’ he said.
Ajibola, who commended the Federal Government for stability in Foreign Exchange rate, said the effort would also boost foreign investment.
He, however, called on the government to sustain the Foreign Exchange Policy.
“If the Foreign Exchange is unpredictable, its unpredictability will scare away foreign investors.
“Also, the issue of infrastructure is very key; if we can address the issue of infrastructure, it will go a long way in enhancing economic growth,’’ he said.
In addition, he advised the government to ensure access to funds, saying “ access to finance covers a lot of areas, including borrowed funds and intervention funds”.
“If there is access to finance, you will not be forced to devote a sizeable proportion of borrowed funds to provide basic infrastructure like power, road, security etc.
“You will be able to consecrate the funds on the real projects and you will be able to make some impact and contribution to overall performance of the economy either in terms of growth or by extension development.’’
Ajibola, Dean, College of Postgraduate Studies, Caleb University, Lagos, also advised the government against borrowing to fund overhead costs.
“The problem is when government borrows to fund super structure that will not add value to the economy and will not promote growth, it is not a good borrowing.
“Now when we talk about government borrowing, like the Treasury Single Account (TSA), which government took away money from the system to the CBN.
“The question is if the funds were in the hands of government, why is government borrowing from the domestic economy?
“Why is government borrowing through the issuance of treasury bills at this very high rate? It borders on the template the government is operating at the moment.
“Where-in we have deficit financing, government needs money from every segment to fund the 2017 budget; that is overheating the system and inflation remains untamed,’’ he said.

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NPA Assures On Staff Welfare 

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The Managing Director, Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, has said the management will continue to accompany its port infrastructure  and equipment  modernization drive  with the development of the welfare of its personnel.
Dantsoho made the disclosure recently while responding to the commendation by the Maritime Workers Union (MWUN) and the senior Staff Association of Statutory Corporations and Government-Owned Companies (SSASGOC) on the  clearing  of the age-long problem of employee stagnation, when the union paid him a courtesy visit at the Authority’s headquarters in Lagos.
A Statement by NPA’s General Manager Corporate & Strategic Communications, Mr. Ikechukwu Onyemekara, quoted Dantsoho as saying,  “our Port infrastructure and equipment modernization drive will go hand-in-hand with continuous staff welfare improvement”.
The NPA MD disclosed that human capital development constitutes the key strategy for creating and sustaining superior performance under his watch, adding that “talent development constitutes a critical success factor for the actualization of the big hairy audacious goals we have set for ourselves especially in the area of Port competitiveness.
“The only way we can meet and indeed exceed stakeholders’ expectations is to deepen the competencies of our human resources assets and boosting their morale.”
Speaking further, Dantsoho commended the Honourable Minister of Marine & Blue Economy, Adegboyega Oyetola, for approving the strategic proposal of the Dantsoho-led Management team that solved the over a decade-long problem of lack of promotion that had fuelled industrial disharmony.
“I must specially appreciate our amiable Minister for graciously approving the multi-pronged stratagem we deployed that cleared all outstanding cases of employee stagnation by conducting examinations in one fell swoop and instituted timelines to forestall a recurrence of such anomaly”, he sad.
Speaking on behalf of the joint maritime labour unions, the President  of Senior Staff Association of Statutory Corporations & Government-Owned Companies (SSASCGOC), Comrade Bodunde stated, “In addition to clearance of the backlog of stagnated promotions, we also wish to express our appreciation for the increase in productivity bonuses, provision of end-of-year welfare packages for staff, and the revision of the Financial Guide to the Condition of Service, which now addresses our members’ concerns about inflationary pressures.”
Nkpemenyie Mcdominic, Lagos
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ANLCA Chieftain Emerges FELCBA’s VP

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National Secretary of the Association of Nigerian Licensed Customs Agents (ANLCA), Elder Olumide Fakanlu, has been elected Vice President of the Federation of ECOWAS Licensed Customs Brokers Association (FELCBA).
The election took place during the FELCBA Congress, held from Tuesday, June 17th to Thursday, June 19th, 2025, in Freetown, Sierra Leone.
Fakanlu’s emergence as Vice President marks a significant achievement for Nigeria within the regional customs brokerage community.
Apart from Fakanlu, Secretary of the Seme Chapter of ANLCA, Austin Nwosu, was also elected, securing the role of Secretary of Relations with Institutions.
The Nigerian delegation played an active role in the congress, with Michael Ebeatu nominated as a member of the electoral officer team, ensuring a fair and transparent election process.
The three-day congress concluded with delegates undertaking a visit to the Sierra Leone Port, offering insights into the host nation’s maritime operations, followed by a recreational trip to the Tokeh Beach.
The newly elected executives are expected to lead FELCBA in its efforts to harmonize customs brokerage practices, promote trade facilitation, and advocate for the interests of licensed customs brokers across the ECOWAS sub-region.
Nkpemenyie Mcdominic, Lagos
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NSC, Police Boost Partnership On Port Enforcement 

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In a bid to enhance more enforcement in the nation’s Port, the Nigerian Shippers’ Council (NSC) has reaffirmed its commitment to stronger inter-agency collaboration with the Nigeria Police Force (NPF).
The Council said the collaboration is aimed at enhancing stronger enforcement, compliance and improve operational efficiency across Nigeria’s ports.
Executive Secretary/Chief Executive Officer of  NSC, Dr. Pius Akutah, made this known during a visit to the  Inspector-General of Police, Dr. Kayode Adeolu Egbetokun, at the Force Headquarters, Abuja.
The visit, which he said, focused on strengthening institutional synergy, comes in the wake of growing responsibilities for the NSC under the newly created Ministry of Marine and Blue Economy.
Akutah emphasized the critical role of security agencies in supporting port operations and ensuring regulatory compliance.
He called for the posting of police officers to assist the Council’s monitoring and enforcement teams at key port locations including Lagos, Warri, Onne, Port Harcourt, and Calabar.
“The posting will complement the activities of our revived task teams and enhance our ability to enforce standards across the maritime logistics chain”, he said.
Earlier, the Inspector-General of Police, Dr. Egbetokun, assured the Council of the Force’s readiness to continue supporting the growth of the maritime sector.
The IGP acknowledged that compliance enforcement is essential to the successful implementation of Nigeria’s Blue Economy objectives.
“The NSC and NPF are expected to deepen collaboration in the months ahead, with a shared focus on building a secure, efficient, and competitive port environment”, to the IGP emphasized.
Chinedu Wosu
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