Connect with us

Business

AfCFTA: ECA Tasks Member Countries On Free Movement Protocol

Published

on

Coordinator, African Trade Policy Centre (ATPC), Economic Commission for Africa (ECA), Mr David Luke, has charged member countries on the significance of the free movement protocol.
Luke gave the charge to an International Organisation for Migration (IOM) side event on the sidelines of the commission’s ongoing 53rd session of its Conference of Ministers in Addis Ababa on Saturday.
He said that the protocol would be critical to securing gains from the African Continental Free Trade Area (AfCFTA).
The event was tagged “Digitalising Migration Response to harness Africa’s Economic Development and Demographic Dividend in the Covid-19 Era.”
The ECA representative said the four basic freedoms which made up the African continental and regional integration agenda were in the movement of people, capital, goods and services.
He recalled that the Abuja Treaty establishing the African economic community, adopted by the defunct Organisation for African Unity in 1991, envisioned the “free movement of people and the rights of residence and establishment”.
“This represents the fifth phase of the Abuja Treaty which is expected to be realised by 2023.
“The Protocol to the Treaty on the Establishment of the African Economic Community relating to Free Movement of Persons, Right of Residence and Right of Establishment was adopted in January 2018 together with a comprehensive implementation roadmap.
“Yet there has been a slow pace of signature and ratification of the protocol,” he said.

According to the ECA, the protocol must be ratified by 15 member states to enter into force and 32 have signed but only Rwanda, has ratified it.
Luke said the concept of free movement of persons was often poorly understood.
“We must do better than this. Freer movement cannot depend only on the AfCFTA Protocol on Services that allows for movement in relation to investment and service delivery.
“True freedom of movement in Africa would instead allow African citizens to move to, live in, work, or provide a service or a business in another country on the continent, under the same or similar conditions as a citizen of that country.”
He added that there might be a need to redesign the freedom of movement protocol to respond to concerns raised by policy makers.
He noted that this was to ensure that Africans could benefit fully from the liberalised market being created by the AfCFTA.
“Regional Economic Communities (RECs), which have faced their own challenges with ratification and implementation of Free Movement Protocols, have a role to play in promoting increased understanding of the free movement concept.
“It is the free movement of people which will boost intra-African trade under the AfCFTA, and enable African countries to proactively and swiftly respond to the twin green and digital transitions we are faced with in the 2020s,” Luke said.
He stressed that Africa could not afford to not build “seamless borders for tomorrow’s Africa,” and further proposed that the ATPC and IOM organise a series of awareness raising events.
He said the events would be organised with the Rwandan Government as a principal partner.
For his part, Mr Jean-Denis Gabikini, Acting Director, Directorate of Economic Development Integration and Trade, African Union Commission, said various challenges in the continent has resulted into increased migration by youths.
“At least 60 per cent of Africa’s population is aged below 24 years and its active contribution to economic growth, which is reflected by increased incomes and development, is not there.
“Instead of making the most of this dividend we are unable to offer jobs to our youth, forcing them to seek livelihoods elsewhere,” Gabikini said.
The 53rd session of the ECA Conference of African Ministers of Finance, Planning and Economic Development is tagged “Africa’s Sustainable Industrialisation and Diversification in the Digital Era in the Context of COVID-19″.
It is held onsite and online and would end on March 23.

Continue Reading

Business

PENGASSAN Tasks Multinationals On Workers’ Salary Increase 

Published

on

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.
Continue Reading

Business

SEC Unveils Digital Regulatory Hub To Boost Oversight Across Financial Markets

Published

on

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.
Continue Reading

Business

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

Published

on

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
Continue Reading

Trending