Business

MOWCA, AFDB Identify Employment Creation Areas

Published

3 years ago

December 21, 2022

The Maritime Organisation of West and Central Africa (MOWCA) and African Development Bank (AfDB) have jointly identified areas of collaboration for maritime infrastructural development and employment creation.
This is a fallout of a meeting at the instance of the Secretary General of MOWCA, Dr Paul Adalikwu, with officials of the AfDB in Abidjan, recently, in which both bodies identified the need for collaboration.
Adalikwu, who was received by the AfDB team led by the bank’s Acting Director, Infrastructure and Urban Development Department, Mr. Mike Salawou, explained MOWCA’s importance and strategic positioning in harnessing the benefits of maritime transport development and the blue economy concept.
The SG invited AfDB to look at his action plan on repositioning MOWCA and provide assistance to implement the programmes of work.
He informed the bank of the planned establishment of a Regional Maritime Development Bank (RMDB) with headquarters in Abuja, Nigeria, as an avenue to provide funding for African shipping industry to enable indigenous investors own ships and play active role in the maritime industry.
He stated further that nine member States have signed the bank’s Charter document with 51% equity share allotment to member States and 49% equity set aside for private sector investors, and encouraged the Bank to see this as an opportunity to invest in the RMDB.
The MOWCA SG disclosed plans to recruit officers to fill key positions at the Secretariat General, to encourage member states to replicate the existing anti-piracy laws of Nigeria and Togo for harmonisation of procedures and practices to prosecute criminals caught in the Gulf of Guinea.
He described the blue economy as an avenue for empowerment of women and youths through the ocean resources, thereby mitigating involvement in maritime crimes, Institutional maritime capacity building and engagement of more women in the sector.
He also talked about establishing an information network relying on high technology equipment to increase situational awareness at sea inorder to maximise the benefits from the International Maritime Organisation (IMO) technical assistance programmes for member States.
The AfDB, through Salawou, promised to engage with MOWCA on the review of the study on the development of the maritime sector that aims at promoting intra-African cabotage transport to reduce identified gaps.
The bank assured of partnership on promoting port efficiency through improvement of connectivity with rail and road transport for facilitation of cargo transit to landlocked countries and assisting in overcoming the challenges in the sector through job openings for African maritime practitioners currently dominated by Asian seafarers.
The AfDB representative said that the Bank was developing its strategies to fully address maritime issues with the African Union Commission and the Regional Economic Communities (RECs), based on their involvement in the regional coastal shipping line project, SEALINK, initiated by the Federation of West African Chambers of Commerce and Industry (FEWACCI) and ECOWAS.
AfDB according to Salawou, is also considering the Port infrastructure development and city urbanisation in the Praia-Dakar link by sea.
The bank rep agreed with MOWCA on the need for job opportunities creation with the promotion of maritime-related entrepreneurship and training for women and youths.

By: Nkpemenyie Mcdominic, Lagos

Business

PENGASSAN Tasks Multinationals On Workers’ Salary Increase

Published

22 hours ago

December 8, 2025

The Tide

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has asked companies in the oil and gas sector to undertake urgent review of salaries of their workers in view of the prevailing harsh economic conditions in the country.

Also, the pensioners of Chevron Nigeria, under the aegis PenCoN, have lauded the President of PENGASSAN, Comrade Festus Osifo and his executive on their unrelenting efforts toward addressing pension abnormalities faced by retired workers in the oil and gas industry.

The association also appealed to the federal government to take necessary measures to check banditry and terrorist activities in parts of the country.

PENGASSAN President, Osifo who addressed journalists shortly after the National Executive Council meeting of the association in Abuja, at the weekend, said that though a lot of success has been recorded in negotiating salary reviews for its members, there are still organisations that have failed to lift their workers from the present harsh economic situation.

He said within this period, PENGASSAN has signed numerous Collective Bargaining Agreements (CBAs) which has brought smiles to the faces of its teeming members.

“This is because we recognise that our job, literally, is how to protect the job of our members, and how to enhance their pay,” he said.

Osifo said that operators in the oil and gas sectors always go for the best qualified professionals to carry out their operations.

“So, the same way they recruit the best, we also challenge them to provide the best condition of service and provide the best remuneration.

“Yes, today, a lot of companies will have achieved successes, but there are still few that we are still discussing at their CBAs, that we are not yet there.

“We still use this opportunity to call on these companies that are still foot dragging, that are still holding back, even with the massive devaluation that has occurred in our country, that still don’t want to fix the remuneration of our members.

“We are calling on them to do the needful, because for us in PENGASSAN we will push without holding back. We will push, using everything in our arsenal, to ensure that the needful is done,” he said.

Osifo spoke of the dispute with the Dangote Refinery group, saying there are still pending issues to be resolved.

“Gentlemen of the press, during the networking session, we also looked at the issues that are plaguing some of our branches, and you know that recently, we had some challenges in Dangote Refinery and PetroChemicals Ltd.

“And within this period, since our last National Industrial Action, we have been engaging them in a lot of conversations, but the issues are not fully resolved. There are still a lot of pending issues.

“Yes, the NEC decided that, yes, let us still consummate that process by pushing those issues, by engaging in dialogue to resolve the issues, and by also engaging all our social partners and stakeholders to get the issues resolved,” he said.

Business

SEC Unveils Digital Regulatory Hub To Boost Oversight Across Financial Markets

Published

22 hours ago

December 8, 2025

The Tide

The Securities and Exchange Commission (SEC) has launched the Regulatory Hub, a new centralized digital platform designed to streamline collaboration, strengthen oversight, and improve transparency across Nigeria’s financial and capital market ecosystem.

The Commission disclosed this in a statement posted on its website.

According to the commission, the platform connects key regulatory and security institutions including the Office of the National Security Adviser (NSA), the Central Bank of Nigeria (CBN), Economic and Financial Crimes Commission (EFCC), Federal Inland Revenue Service (FIRS), and Corporate Affairs Commission (CAC), enabling them to exchange information securely and in real time.

The launch of this regulatory hub comes ahead of the implementation of new tax laws in January 2026, with agencies such as the FIRS spreading its tentacles across sector to monitor compliance.

According to the SEC Director-General, Emomotimi Agama, the launch marks a significant step toward modernizing Nigeria’s regulatory framework through technology.

“The Regulatory Hub is a major step in our commitment to leverage technology for stronger regulatory synergy. By connecting regulators on one platform, we are building resilience, enhancing market integrity, and promoting investor confidence,” he said.

The SEC said the platform would help reduce bottlenecks in regulatory processes and facilitate faster, more informed decision-making across agencies.

Reinforcing the DG’s comments, the Executive Commissioner, Operations, Bola Ajomale, highlighted the operational benefits of the new system.

“The platform will significantly improve the timeliness and quality of regulatory decision-making. It provides a single window for regulators to share data, respond to requests, and collaborate seamlessly in safeguarding our financial and capital markets,” he said.

The commission believes the Regulatory Hub would support its broader mandate to strengthen investor protection, enhance market stability, and harmonize regulatory activities across the financial sector.

It urged stakeholders to initiate interest by emailing the Commission, adding that once registered, participants would be able to access the Hub and take advantage of its features.

Business

NAFDAC Decries Circulation Of Prohibited Food Items In markets …….Orders Vendors’ Immediate Cessation Of Dealings With Products

Published

22 hours ago

December 8, 2025

The Tide

The National Agency for Food and Drug Administration and Control (NAFDAC) has raised an alarm over the growing circulation of banned food products across markets in the country.

The agency, in a Press Release dated 6 December 2025, warned that these items including pasta, noodles, sugar and tomato paste are expressly listed on the Federal Government’s Customs Prohibition List and are illegal to import.

NAFDAC stated that the sale and distribution of such prohibited items violate national trade laws, compromise the integrity of Nigeria’s food control system, and pose significant public health risks, as they have not undergone the agency’s mandatory safety and quality evaluations.

Importers, market traders, and supermarket operators have therefore, been directed to immediately cease all dealings in these items and to notify their supply chain partners to halt transactions involving prohibited products.

The agency emphasized that failure to comply will attract strict enforcement measures, including seizure and destruction of goods, suspension or revocation of operational licences, and prosecution under relevant laws.

The statement said “The National Agency for Food and Drug Administration and Control (NAFDAC) has raised an alarm over the growing incidence of smuggling, sale, and distribution of regulated food products such as pasta, noodles, sugar, and tomato paste currently found in markets across the country.

“These products are expressly listed on the Federal Government’s Customs Prohibition List and are not permitted for importation”.

NAFDAC also called on other government bodies, including the Nigeria Customs Service, Nigeria Immigration Service(NIS) Standards Organisation of Nigeria (SON), Nigerian Ports Authority (NPA), Nigerian Maritime Administration and Safety Agency (NIMASA), Nigeria Shippers Council, and the Nigeria Agricultural Quarantine Service (NAQS), to collaborate in enforcing the ban on these unsafe products.

By: Lady Godknows Ogbulu