Connect with us

News

Nigeria Needs Industrial Revolution -AfDB

Published

on

The African Development Bank (AfDB) has called on President Bola Tinubu’s administration to set the right pathway to prosperity for Nigeria.
The AfDB President, Dr Akinwumi Adesina, said this while delivering a keynote at the Business Day Chief Executive Officers (CEO) Forum in Lagos.
The keynote address was titled “The Day the Lion Roared! Making Nigeria a Global Industrial and Economic Giant”.
Adesina likened Nigeria’s case to that of Simba in The Lion King who after several challenges returned from exile to rule over his people as King after the death of his father.
“Nigeria, like the cub Simba, has great promise. But the promise is yet to be realised.
“The day that Nigeria wakes up and becomes a lion king, everything will change for its people; and everything will change for all of Africa.
“Nigeria should never be a poor country, and Nigerians are tired of being poor.
“For now, Nigeria is developing too slowly and well below its potential. The challenge is for the lion to roar. Then we will have the making of an economic giant.
“The key for that is for Nigeria to have an Industrial Revolution,” he said.
Adesina said the share of manufacturing in the GDP of Nigeria had hovered around seven per cent in the past decades.
According to him, the nation has not been able to extricate itself from the comatose of its industrial manufacturing sector to unleash the fullness of its potential.
“The performance of the manufacturing sector in the past five years has been poor. Between 2015-2017, the sector declined by -1.5per cent, -4.3per cent and -0.2per cent.
“This is in sharp contrast to the dynamic and rapid performance of manufacturing in Asian countries, such as Singapore, Malaysia, India, and China.
“The manufacturing sector of Nigeria represents only three per cent of the total revenue from exports but accounts for 50 per cent of imports in the country.
“Instead of being forward-looking in expanding the share of the manufactured goods in its total export revenue, Nigeria focuses on the model of import substitution,” Adesina said.
According to AfDB President, the country has a manufacturing sector that cannot develop to compete globally, but limits itself to “survival mode”, not a “global manufacturing growth mode”.
He said a well-developed and policy-enabled manufacturing sector, with export orientation, will spur greater innovation, industrial policy for export market development and structural transformation of the economy.
He said rather than being consumed with conserving foreign exchange, the focus should shift to expanding foreign exchange through greater export value diversification.
Comparing Nigeria’s trade performance with Malaysia and Vietnam, Adesina said while Nigeria’s export hardly changed, Malaysia and Vietnam used aggressive horizontal and vertical industrial manufacturing diversification to move from low-value products to high-value market products.
“The result is seen in the comparative wealth of the three countries.
“While export value per capita is 7,100 dollars for Malaysia and 3,600 dollars for Vietnam, it is only 160 dollars for Nigeria.
“While Malaysia and Vietnam moved to global manufacturing growth, creating massive wealth and jobs for themselves.
“Nigeria remains in a ‘survival’ mode, still unable to substitute the imports of its petroleum products while being one of the largest exporters of crude oil,” he said.
According to him, African countries, including Nigeria have had policies, templates and programs for industrialisation and expanding industrial manufacturing for decades, but there is a huge gap between policy ideas and actions.

Continue Reading

News

May Day: Labour Seeks Inclusiveness In Policy-making 

Published

on

The Organised Labour yesterday, called on the Federal Government to ensure inclusiveness in policy making and guide against erosion of rights, such as free speech and association.

The President, Nigeria Labour Congress (NLC), Mr Joe Ajaero made the call at the 2025 Workers’ Day celebration held at the Eagle’s Square, Abuja.

The Tide source reports Ajaero and the President, Trade Union Congress, Mr Festus Osifo delivered a joint statement on behalf of the organised labour at the event.

Ajaero described May Day as, not only a moment to honour workers’ sacrifices, but also a platform to demand justice and accountability from those in public office.

He frowned at the alleged suppression of protests, and the erosion of rights  of workers by some agents

According to him, workers have a duty to resist economic injustice, insecurity, and policies that undermine their dignity.

Speaking on the theme of the day, the NLC President underscored the need for Nigerian workers to reclaim the civic space and resist policies that contribute to worsening economic conditions.

“Our theme this year – “Reclaiming the Civic Space in the midst of Economic Hardship – reflects the urgent need for citizens to protect democracy and push back against repression.

“The civic space, where Nigerians express their concerns and challenge injustices is shrinking.

“If we fail to reclaim this space, the foundation of our democracy risks collapse,” he said

Ajaero, therefore,  urged workers to unite and resist division, fear, and despair.

He also urged them to mobilise and organise for change, declaring that the right to  demand better conditions is non-negotiable.

“Without workers, there is no society; without labour, there is no development. We must take our place in the fight for economic justice and democratic governance.”

Speaking in the same veins, Osifo said workers are the backbone of the nation—the educators, healthcare providers, builders, farmers, and innovators who sustain its economy -.

He stressed the need for the labour to reclaim the civic space even in the midst of economic hardship.

 

 

 

Continue Reading

News

2025 UTME: JAMB Disowns Site Requesting Payment From Candidates

Published

on

The Joint Admissions and Matriculation Board (JAMB) has disassociated itself from a fraudulent site requesting payments from candidates who missed the ongoing 2025 Unified Tertiary Matriculation Examination (UTME).

The board said that the site, “Copyrightwriter Personal J Rescheduling Flw” and account number 8520641017 at Sterling Bank, associated with it, are scam.

The disclaimer is contained in a statement made available to newsmen in Abuja on Thursday by the Board’s Public Communication Advisor, Dr Fabian Benjamin.

Benjamin said the account is being exploited to defraud unsuspecting candidates who missed their UTME.

“We issue this urgent notice to inform the public about this nefarious scheme targeting candidates who were unable to participate in the UTME.

“Some unscrupulous individuals are deceitfully soliciting payments of N15,700 under the false pretence of offering rescheduling services for the examination.

“Let us be unequivocal: this, it is a blatant scam, and we are confident that the public will not fall prey to such cheap and regressive tactics.

” The individuals behind this scam have no affiliation with JAMB or any legitimate government agency.

“The account details provided in these communications are entirely fictitious and bear no connection to any official processes; they exist solely for the purpose of perpetrating fraud,” he said.

Benjamin called on Sterling bank to take immediate and decisive action against this criminal activity.

According to him, JAMB has reported the matter to the relevant security agencies and actively pursuing those responsible for this deceitful act.

He further said that “JAMB does not reschedule examinations for candidates who miss their scheduled tests due to reasons unrelated to the Board’s actions”.

He, however, said that the Board is conducting a thorough investigation for candidates whose biometrics failed during verification and were thus unable to sit for the examination.

He said those without discrepancies would be invited to retake the examination at no cost , stressing that “no cost is required”

“It is imperative to understand that JAMB does not charge any fees for examinations after a candidate has completed their registration.

“We strongly urge all candidates to remain vigilant and not to succumb to these fraudulent schemes.

“Protect yourselves and report any suspicious activity immediately,” he explained.

Continue Reading

News

NDDC Seeks UN’s Support To Accelerate Niger Delta Development

Published

on

The Niger Delta Development Commission (NDDC) has expressed its willingness to partner with the United Nations (UN) to accelerate the development of the Niger Delta region.

Dr Samual Ogbuku, Managing Director of the NDDC, made the appeal in a statement issued by the commission’s Director of Corporate Affairs, Mrs Seledi Thompson-Wakama, in Port Harcourt on yesterday.

According to the statement, Ogbuku sought the UN’s support during his visit to the UN Resident and Humanitarian Coordinator (UNRHC), Mr Mohammed Fall, at the UN regional office in Abuja.

He called on the global body to provide the NDDC with technical assistance and expert services to support the region’s development.

“We are eager to collaborate with the UN, recognising that the state governments in the region and the NDDC alone cannot achieve the level of regional development required,” he said.

Ogbuku identified key areas where support would be needed, including the provision of portable and affordable drinking water powered by high-tech solar energy sources.

He also highlighted the importance of reforesting the mangrove swamps, which have been severely damaged by decades of environmental degradation caused by oil exploration in the Niger Delta.

“Although the NDDC has made progress in providing solar-powered streetlights across the region, we still require UN support in delivering solar energy solutions for residential buildings.

“We also wish to explore the possibility of installing solar mini-grids in homes across communities, which would boost local commerce and trade,” he added.

The NDDC managing director further appealed for increased UN involvement in areas such as healthcare, education, youth training, gender development, and food security.

Ogunku stated that such interventions would significantly enhance the standard of living in the region.

In response, Fall affirmed the UN’s readiness to collaborate with the NDDC to fast track development in the Niger Delta.

He assured that the UN would support initiatives in food security, job creation, education, and renewable energy, among other areas.

“We aim to approach development in the Niger Delta holistically, rather than focusing solely on environmental pollution.

“This is merely an entry point; however, the UN’s development vision aligns with the Sustainable Development Goals (SDGs), which are designed to positively impact various aspects of people’s lives,” Fall stated.

He assured the NDDC of continued and fruitful engagements to drive the region’s development.

 

 

 

Continue Reading

Trending