Business
FG To Resolve Food Exports Suspension To EU
The Federal Government says it is working to resolve the suspension of Nigeria’s dried beans exports to the European Union before the June deadline.
The Director-General of the National Biosafety Management Agency (NBMA), Mr Rufus Ebegba, said this in an interview with The Tide source yesterday in Abuja.
Ebegba said that relevant agencies of the federal government were working closely on the matter and would ensure that the anomaly was corrected before June.
It would be recalled that the EU announced an import suspension measure in June 2015, which affected dried beans from Nigeria.
Nigeria’s dried beans was said to contain high levels of pesticides which is dangerous to human health.
The EU’s suspension of Nigeria will lapse in June 2016, when the country is expected to provide “substantial guarantees that adequate official control systems have been put in place to ensure compliance with food law requirements’’.
Ebegba said he was aware that the Federal Ministry of Industry, Trade and Investment, and other relevant agencies, were working closely to resolve the issue before the deadline.
“The Federal Government is a very large family; however, everybody has to work together to ensure the Change Agenda of the present administration becomes a reality.
“I am optimistic that the country will enhance its productivity and correct the earlier mistakes that led to the ban,’’ he said.
Ebegba emphasised the need for collaboration between regulatory authorities and other stakeholders to put in place a quality control framework to enhance acceptability of the country’s agricultural exports in the international market.
He said it was the responsibility of the new agency, which is six months old, to educate Nigerians on modern biotechnology.
According to him, the NBMA will ensure safe practice of the Genetically Modified (GM) technology among farmers in the country.
“As a regulatory body, what we do is to ensure unbiased treatment and make sure that the new technology does not have any negative impact on humans and the environment.
“We are trying to convince Nigerians and farmers to embark on this new technology in order to boost our economy through agriculture.
“The agency through its sensitisation programmes organised seminars and workshops across the three geo-political zones even before the bill was passed into law to campaign for its passage and create awareness among farmers.
“We are working towards translating our handbills and pamphlets into the three major languages of Hausa, Igbo and Yoruba for easy understanding among rural farmers,’’ he said.
The NBMA also allayed the fears in some quarters that GM crops had adverse effects on human health.
Describing the fear about GM crops as unfounded, Ebegba advised Nigerians to embrace the technology which, he said, was safe and economically viable.
The director-general gave farmers the assurance that the NBMA would carry out risk assessments and analyses on GM seedlings to ensure that they were environmentally friendly and safe for consumption before they are released to them.
He also appealed to farmers to trust the decision of the NBMA and be rest assured that the agency would ensure safety in the practice of GM technology.
“The days of peasant farming are long gone; we are now looking to commercial farming that will help in generating more income for our farmers and the economy,’’ said Ebegba. =
Business
Association Seeks Intervention to Save Domestic Airlines
Business
CBN Reforms Impact Consumers As Dollar Card Spending Limits Rise
“Payment of tuition fees for undergraduate/postgraduate studies shall be subject to a maximum limit of $25,000.00 per semester,” the Manual states.
The expansion of international card limits also reflects growing confidence among lenders that foreign exchange liquidity has improved enough to support retail dollar transactions.
Speaking recently at the BusinessDay 14th Annual CEO Forum in Lagos, CBN Olayemi Cardoso, governor of the CBN said buying and selling activities now increasingly determine outcomes in the foreign exchange market, unlike in the past when market participants relied heavily on routine Central Bank interventions.
According to Cardoso, Nigeria’s net foreign exchange reserves have risen from just over $3 billion at the start of the reform programme to more than $40 billion, while gross reserves have climbed to about $52 billion, providing stronger confidence for investors and enabling the Central Bank to reserve interventions for periods of market stress rather than day-to-day liquidity management.
The restoration and expansion of international naira card spending limits are increasingly being seen as one of the clearest signs that the benefits of the CBN’s foreign exchange reforms are beginning to reach households, students and businesses making legitimate cross-border payments.
Business
WEC: FG Inaugurates Governing Board … As Nigeria Rejoins Council
The Secretary-General and Chief Executive Officer, WEC, Dr Angela Wilkinson, disclosed this in a statement, last Thursday.
“Nigeria’s participation comes at a pivotal time as the country seeks to expand energy access, strengthen energy security, accelerate gas development and mobilise the capital required for industrialisation and sustainable economic growth.
“WEC Nigeria will convene leaders from across the energy ecosystem, apply the WEC’s globally recognised Energy Trilemma framework to Nigeria’s unique context, and promote evidence-based dialogue, practical collaboration and informed policymaking.
“It will also ensure that Nigerian and broader African perspectives contribute meaningfully to global energy conversations,” she said.
Wilkinson expressed confidence that Nigeria would play a significant leadership role at the World Energy Congress scheduled for Riyadh in April 2027 and beyond.
The statement also quoted the Chairman of WEC Nigeria, Isa, as describing the country’s participation as an opportunity to deepen national and African leadership within the global energy community through practical solutions tailored to regional development priorities.
He said the platform would promote collaboration across sectors and attract sustainable investments into Nigeria’s energy sector.
The Chief Executive Officer of WEC Nigeria, Wunti, was quoted in the statement as saying that the council would connect leadership, evidence and investment to build a secure, affordable and sustainable energy system.
“This system will be capable of driving economic growth and shared prosperity.”
According to him, the platform will also connect Nigerian institutions and businesses with international knowledge, technology, partnerships and investment opportunities through the World Energy Council’s global network.
Recall that WEC, founded in 1923, is the world’s oldest independent and impartial community of energy leaders and practitioners, advancing informed, collaborative and practical action across the global energy system.
