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Insecurity Threatening Productive Sector, Manufacturers Alert

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Nigerian manufacturers have lamented the state of insecurity in the country, warning it was raising their operating costs and lowering production output in several industrial zones.

According to them, the continuous increase in general prices of goods in Nigeria and its multiplier effects on the standard of living of the citizens is threatening national growth and recovery post COVID-19.

Industry players, who spoke to newsmen, argued that the current double-digit inflation rate will frustrate efforts at economic recovery, erode purchasing power and increase poverty rate.

Apart from insecurity and conflicts in food producing areas that led to reduction in the production and supply of food, the disruption of supply chain activities due to the pandemic, Ukraine-Russia war, instability in the exchange rate and management, among others, have also compounded the inflationary pressure.

Therefore, even if domestic food production increases and supply and distribution constraints are eased, a combination of exchange-rate management problems, shortage of hard currency, expansionary monetary policy and funding of fiscal deficit will continue to generate inflationary pressures.

They also argued that the slow recovery rate coupled with high unemployment rate would continue to erode the investor confidence in the capacity of the authorities to sustain adequate macroeconomic activity that will support post-pandemic recovery.

For their part, some economists have warned that the state of insecurity has reached a frightening crescendo, as the trajectory portends adverse implications for economic growth prospects and investment outcomes.

Industry operators believe that Nigeria’s worsening security situation, the escalating energy cost, exchange rate depreciation, liquidity crisis in the foreign exchange market and the spike in inflationary pressures form major headwinds undermining economic growth.

The Chief Executive Officers of Manufacturers Association of Nigeria (MAN) member-companies in Nigeria in the first quarter of 2022 (Q1’22) reported declined confidence in the economy as revealed in the latest Manufacturers CEO’s Confidence Index (MCCI) survey report, some of the pessimism stem from the rising level of insecurity in the country.

The MCCI analysis based on industrial zones showed that out of the 13 industrial zones in Nigeria, five struggled in the first quarter of 2022.

The performance of the afore-mentioned zones was clearly depicted by the index scores of 48.3, 44.8 and 46.0 points, respectively, in the period under review which fell below the 50 neutral points threshold Index score.

MAN stated that the low performance recorded in some zones is attributable to the disruption of manufacturing activities by high-level insecurity, rising operating costs and harsh manufacturing environment.

“In specific terms, peculiar contributory factors for Rivers State include the prevailing low interest in the productive sector evidenced by the shrinking industrial landscape, low support for the manufacturing sector and the excessive concentration on trade and services,” the producers added.

“The general decline in the index point and the dimmed outlook for the second quarter evidenced by expectations of lower production, employment and unfriendly business conditions, is a cause for concern. This obviously calls for the crafting of a National Response and Sustainability Strategic Plan to avert the looming economic crisis and shortages that would arise from the impact of the Russia invasion of Ukraine,” MAN stated in the report.

Chairman, National Association of Small Scale Industrialists (NASSI), Lagos, Gertrude Akhimien, decried Nigeria’s security situation, saying it has forced many SMEs out of business.

“Insecurity is a major reason for the shutdown of many SMEs. Many SMEs that are in production need raw materials, which they have not been able to access due to the security situation, especially in the Northern part of the country.

“Small business owners are afraid to risk their lives due to the senseless killings and kidnappings. So, the little raw materials that come in are expensive and at the end of the day there is no profit. As I talk to you now, five bakeries just shut down.

“The bakery section just raised alarm of the continuous rise in price of raw materials as such many have closed shop waiting till price stabilises. If price keeps increasing consumers cannot buy they rather make alternatives”.

 

 

 

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Independence Anniversary:  Nigeria Is A Failed Grandfather – Monarch 

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A first class traditional ruler in Rivers State, His Royal Majesty, King Aaron Ikuru, has described Nigeria at 65 as a grandfather who cannot provide leadership to other African Countries.

The monarch  stated this in an interview at his palace in Ikuru Town, yesterday.

According to him, Nigeria would have been a  developed country to set the pace in the whole of Africa, considering its numerous resources.

“Nigeria is a grandfather but not behaving as a grandfather. Our country, Nigeria, before and from the era of Independence was in the state of becoming a great country, but unfortunately is not becoming anything.

“We should be far ahead with what we have in the country. God blessed us, we have almost what it takes in terms of mineral resources, manpower amongst others that can drive speedy development in the country.

“If we’re able to harness all the things we have, even America by now would have respected us”, he  said.

While blaming the past leaders of the country, the monarch called on the current leadership of the country to redouble efforts in order to narrow the differences in terms of development, exchange rate between naira and foreign currencies.

King Ikuru, who is also the Chairman of Andoni Area Traditional Rulers Council, however, lauded the efforts of the founding fathers, past leaders of the country for the achievements so  far.

He also expressed optimism that Nigeria would be great, calling on the opinion leaders to shun tribalism and political intolerance in the country.

 

“If Nigeria should experience rapid development in all sectors, it means we must shun tribalism and political intolerance, the interest of our country must be our priority.

“We need to fight corruption vigorously, and leaders must show good example of discipline and integrity”, he said.

The monarch used the opportunity to wish Nigeria happy independence anniversary.

By: Enoch Epelle 

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FG begins payment of N32,000 pension increment to retirees – PTAD

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The Pension Transitional Arrangement Directorate has announced the start of implementation of the new pension increments for pensioners under the Defined Benefit Scheme, saying the adjustments will be reflected in the September 2025 payroll cycle.

In a statement signed by Management and posted on its X handle, PTAD said the increase package includes a fixed N32,000 payment alongside percentage increases of 10.66% and 12.95% for eligible categories, which will benefit about 832,000 pensioners under its management.

Recall that PTAD in August announced President Bola Tinubu approved a series of measures, including new welfare benefits for pensioners under DBS.

The approval follows a formal request by PTAD’s Executive Secretary, Tolulope Odunaiya, seeking an emergency budgetary allocation to implement pension reforms and welfare benefits for the scheme’s retirees.

The measures include a N32,000 pension increment, percentage increases for pensioners of defunct and privatised agencies, pension harmonisation for all DBS pensioners, enrolment into the National Health Insurance Scheme, and the settlement of long-standing unfunded pension liabilities.

In a statement yesterday, PTAD said the partial release of N820.188 billion by the Federal Ministry of Finance from the emergency funding has made it possible for pensioners to begin receiving the enhanced payments immediately.

The statement read, “Further to the President’s approval of the emergency budgetary allocation for the payment of the new pension increment rates for Pensioners under the Defined Benefit Pension Scheme (DBS) that was earlier published by the Pension Transitional Arrangement Directorate on Friday, 8th August, 2025, the Directorate is delighted to announce the commencement of the implementation of the 832,000, 10.66% and 12.95% pension increment for eligible pensioners under the management of PTAD, in the September 2025 pension payroll cycle.

“This achievement has been made possible through the partial release of 820.188 billion by the Federal Ministry of Finance, from the initial 845 billion emergency funding approval granted by the Federal Government.

“This milestone clearly reaffirms the Federal Government’s dedication to safeguarding the welfare and entitlements of DBS Pensioners in line with the Renewed Hope Agenda.”

The directorate thanked President Bola Ahmed Tinubu for approving the emergency allocation.

It also acknowledged the role of the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun; the Minister of State for Finance, Dr Doris Uzoka-Anite; the Accountant-General of the Federation and key presidential aides and parliamentary committees for their “timely interventions” and support.

The statement also expressed appreciation to organised pension groups, including the Nigeria Union of Pensioners and the Federal Parastatals and Private Sector Pensioners Association of Nigeria, for their cooperation during negotiations and implementation planning.

“We further assure all our DBS Pensioners and Stakeholders that the Directorate will continue to collaborate with the relevant authorities towards release of the outstanding approved funds and subsequent fulfilment of all future obligations relating to the pension increments and the landmark reforms,” the statement added.

The DBS covers pensioners who retired before the introduction of the Contributory Pension Scheme in 2004, including those from defunct public institutions, privatised agencies, and treasury-funded parastatals.

Over the years, many have faced irregular payments, delayed harmonisation, and inadequate healthcare access, challenges that the new reforms are expected to address.

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Nigeria At 65: NOA urges citizens to foster unity, progress

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The National Orientation Agency (NOA) has urged Nigeria. citizens to remain united, peaceful to enhance development of the  nation  as it celebrates 65th independence anniversary.

Mr Mkpoutom Mkpoutom, Director of NOA in Akwa Ibom,  gave the charge in Uyo yesterday while addressing newsmen and stakeholders to mark the anniversary.

Mkpoutom said it was essential to recognise that the strength of Nigeria lay  in its diversity

“With over 250 ethnic groups and an array of languages, the nation embodies a unique blend of heritage.

“This diversity should be seen not as a dividing line but as a unifying force that propels the country toward progress.

“As Akwa Ibom embarks on another year,  it is crucial for all citizens to foster a sense of unity and shared purpose.

“Embrace dialogue, understanding and collaborate with the Renewed Hope Agenda of President Bola Tinubu in its efforts to addressing pressing challenges like poverty, security, education, and healthcare, thereby paving  way for a brighter future for all.”

The state director, however, appealed to Nigerians from all walks of life to renew their commitment to a more prosperous, peaceful, and equitable nation.

“Let this anniversary serve as a reminder of the collective strength that lies in every citizen,” he said.

He urged everyone to contribute positively to the development of a better society.

Mkpoutom urged the people and all citizens to honour the labours of heroes past, as they celebrated the present, while working diligently toward a future filled with hope and opportunities for generations to come.

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