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Nigeria wobbles on world’s 20 best economies’ dream

IT was an economic ambition that was well celebrated. But months after the Federal Government declared its resolve to place Nigeria among the world’s 20 biggest economies, stakeholders in the nation’s real sector say it may be an elusive dream unl…

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AgangaIT was an economic ambition that was well celebrated. But months after the Federal Government declared its resolve to place Nigeria among the world’s 20 biggest economies, stakeholders in the nation’s real sector say it may be an elusive dream unless urgent steps are taken.

The project, which is contained in Vision 20:2020 economic plan, they argued might not be achieved because the measures needed to address the forces hindering the growth of the business sector were still lacking.

In separate interview with The Guardian on the vision, the industry players listed the threats to the initiative as high cost of funds and dearth of long-term funds; influx of finished goods from abroad, particularly Asia; weak linkages between small and large enterprises; weak research and development support and dearth of strategic industries such as the steel and the petrochemicals.

Others, according to them, are unstable power supply, poor road network, absence of a master-plan for railway development, rising cost of automotive oil and gas, as well as uncoordinated tax administration.

The operators said Nigerian manufacturers, small-scale businesses and families spend over N3.504.800 trillion yearly on diesel and petrol generating sets yearly due to unstable supply of electricity, which has remained unaddressed by past and even the present government.

The Director-General, Lagos Chamber of Commerce and Industry (LCCI), Muda Yusuf, stressed the need for the government to address the gap in infrastructural development, using the country’s untapped human and natural resources.

Other industry leaders argued that for the Vision 20:2020 to be attainable, the manufacturing sector must contribute not less than 25 per cent yearly for a set period against the three per cent, which the sector now contribute to the Gross Domestic Product (GDP).

Yusuf urged the government to declare a state of emergency in the power sector if it is serious about the 20:2020 dream.

“It is expected that the government will urgently take drastic steps to ensure the efficient performance of the power sector, as most manufacturing firms have relocated to other West African nations because of the power sector crisis.

“The government should focus on power and energy, agriculture and food security, wealth and job creation, mass transportation, land reforms, security, qualitative and functional education and of course, the Niger Delta would turn around the nation’s economy and make possible the realisation of the Vision 20:2020 dream.

“With 20:2020 being only eight years away, this is definitely a tall order, especially in the light of where we are at the moment.  But a great deal of impact could be made if there is the political will and sincere commitment to make things happen.”

Also, the President, Nigeria Union of Traders, Ken Ukaoha, said the industrial sector had been abandoned by successive governments and the inability of the private sector to brace up to the challenges of globalisation and competitiveness.

The sector, according to him, has therefore remained prostrate and add less value to the economy for over three decades.

Ukaoha said: “Indeed, the industrial sector has been dominated by exploitation of natural resources, specifically crude and natural gas. Unfortunately, while the exploration ought to have actuated maximisation of benefits in the nation’s hydrocarbon resources (petro-chemicals), what we rather have is an industrial sector that generates its own power, and depends on long queues for imported and exorbitant fuel.

“We urge a shift from the “siddon look” attitude of political appointees to a purely technical and project-driven governance where performance is evaluated on the basis of measurable outputs and actual impacts. This is the only way Nigeria can grow and remain in line with the nation’s strategic development plan represented by Vision 20:2020 framework,” he said.

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Kwara Governor, Abdulrazaq Declares 24-hour Curfew

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Kwara Governor, Abdulrazaq Declares 24-hour Curfew
Kwara Governor, Abdulrazaq Declares 24-hour Curfew

Governor AbdulRahman AbdulRazaq

Following the outbreak of violence in some quarters of the State, Governor Abdulrahman Abdulrazaq of Kwara State has declared a 24-hour Curfew on the state starting on Saturday.

Governor Abdulrazaq made this known in a statewide broadcast on Friday night.

Recall that on Friday some residents of Ilorin, the Kwara State capital stormed the warehouses where the government stored COVID-19 palliatives expected to be distributed to citizens.

Also Read: BREAKING: Lagos Government Relaxes Curfew

The warehouses, located at the cargo warehouse of the International airport in Ilorin as well as the agro-mall located in the Sango area of the state were totally ransacked as residents struggled to pack as much food items as they could.

Abdulrazaq said, “Lives are being threatened. Businesses are being looted. Public properties have been targeted. This is unacceptable. It is not who we are.

“To curb these acts of criminalities, I hereby declare a 24-hour curfew in Ilorin metropolis from midnight today October 23rd, 2020. This is in line with Sections 1, 2, and 4 of the Public Order Act Chapter 382 Laws of Federation of Nigeria 2004.

“People are urged to stay indoors in compliance with this curfew. This will be reviewed as we watch developments.

“Our observation is that what has happened today is not a protest, it cannot be defended under any guide, it was a pure act of criminality as some people are hiding under the guise of nationwide protest.”

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Lagos Policemen Brutalise PUNCH Journalists For Covering #EndSARS Protest

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Lagos Policemen Brutalise PUNCH Journalists For Covering #EndSARS Protest

Two PUNCH journalists, Femi Dawodu and Segun Odunayo, were on Wednesday brutalised by policemen guarding the Lagos State House of Assembly in Ikeja.

The duo had gone to cover events around the Alausa area, a major demonstration ground of the #EndSARS protesters calling for a total overhaul of the Nigeria Police Force.

According to the PUNCH, both Odunayo and Dawodu were recording a live video of activities in the area when the policemen accosted them and ordered them to stop the recording.

After showing the policemen their identity cards, indicating that they are journalists covering #EndSARS protests and monitoring compliance with the government-imposed curfew, the policemen became annoyed and pounced on them.

Odunayo said the policemen tortured them for four hours, adding that they stripped them of their clothes, laid them on the floor, beat them with a stick and guns, and took a video recording of them while torturing them at the Lagos State House of Assembly.

Odunayo said, “Femi and I were at the Secretariat in Alausa around 7 am and were doing a live video of the activities going on in the area. We were heading back to the expressway when a group of armed policemen accosted us at the Lagos State House of Assembly roundabout and immediately collected our phones. We showed them our ID cards, but they refused to let us go.

“What got the policemen annoyed was that we saw them using a stick and a rubber to beat a young man, and during the live video, they heard me saying that they were beating someone. So, after they arrested us, they tortured us and demanded that we should do another live video denying the statement, but we refused.

“Each Time we refused, they slapped us, used a stick to beat us, used the butt of their guns to hit our heads and bodies after stripping us of our clothes. All they wanted was for us to do another live broadcast to claim that we lied and we didn’t because we told the truth.”

Dawodu said it took the intervention of the state Police Public Relations Officer, Muyiwa Adejobi before they were released at the Alausa Police Station, adding that before their release, the policemen took their details, including their addresses, took a video record of them and threatened to go after them if any negative report was published about what happened.

He said, “The policemen were transferring the aggression of what is happening regarding the #EndSARS protest on us. They later took us to the Divisional Police Station in Alausa, and if not for the DPO, the policemen guarding the LSHA that arrested us would have done more grievous things to us.

“The PPRO and the DPO later spoke with them, and we were released.

“But despite his intervention, we were told to write statements. They collected our details, address, took video recordings of us making false statements during the torture, and threatened to use it to blackmail and go after us if we end up doing any bad report against them.”

Sahara Reporters

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CCTV At Lekki Toll Gate Was Not Removed -Lekki Concession Company Says

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CCTV At Lekki Toll Gate Was Not Removed -Lekki Concession Company Says

Lekki Concession Company in their press release has debunked the rumour that the Lekki Toll Gate CCTV camera was not removed.

Lekki, Ikoyi tolls will rise on February 1 – LCC - Ivory NG

According to the press release by the company which condemns the unlawful killings of the peaceful protesters said no one gave the order for the removal of the Closed Circuit Television System as the CCTV is still intact as of the time of this report.

Speaking further, the concession company revealed that if the CCTV was to be removed, it would require the use of machinery to reach the heights that they have been installed.

Read the release report below;

Image

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Nigeria wobbles on world’s 20 best economies’ dream

IT was an economic ambition that was well celebrated. But months after the Federal Government declared its resolve to place Nigeria among the world’s 20 biggest economies, stakeholders in the nation’s real sector say it may be an elusive dream unl…

Published

on

AgangaIT was an economic ambition that was well celebrated. But months after the Federal Government declared its resolve to place Nigeria among the world’s 20 biggest economies, stakeholders in the nation’s real sector say it may be an elusive dream unless urgent steps are taken.

The project, which is contained in Vision 20:2020 economic plan, they argued might not be achieved because the measures needed to address the forces hindering the growth of the business sector were still lacking.

In separate interview with The Guardian on the vision, the industry players listed the threats to the initiative as high cost of funds and dearth of long-term funds; influx of finished goods from abroad, particularly Asia; weak linkages between small and large enterprises; weak research and development support and dearth of strategic industries such as the steel and the petrochemicals.

Others, according to them, are unstable power supply, poor road network, absence of a master-plan for railway development, rising cost of automotive oil and gas, as well as uncoordinated tax administration.

The operators said Nigerian manufacturers, small-scale businesses and families spend over N3.504.800 trillion yearly on diesel and petrol generating sets yearly due to unstable supply of electricity, which has remained unaddressed by past and even the present government.

The Director-General, Lagos Chamber of Commerce and Industry (LCCI), Muda Yusuf, stressed the need for the government to address the gap in infrastructural development, using the country’s untapped human and natural resources.

Other industry leaders argued that for the Vision 20:2020 to be attainable, the manufacturing sector must contribute not less than 25 per cent yearly for a set period against the three per cent, which the sector now contribute to the Gross Domestic Product (GDP).

Yusuf urged the government to declare a state of emergency in the power sector if it is serious about the 20:2020 dream.

“It is expected that the government will urgently take drastic steps to ensure the efficient performance of the power sector, as most manufacturing firms have relocated to other West African nations because of the power sector crisis.

“The government should focus on power and energy, agriculture and food security, wealth and job creation, mass transportation, land reforms, security, qualitative and functional education and of course, the Niger Delta would turn around the nation’s economy and make possible the realisation of the Vision 20:2020 dream.

“With 20:2020 being only eight years away, this is definitely a tall order, especially in the light of where we are at the moment.  But a great deal of impact could be made if there is the political will and sincere commitment to make things happen.”

Also, the President, Nigeria Union of Traders, Ken Ukaoha, said the industrial sector had been abandoned by successive governments and the inability of the private sector to brace up to the challenges of globalisation and competitiveness.

The sector, according to him, has therefore remained prostrate and add less value to the economy for over three decades.

Ukaoha said: “Indeed, the industrial sector has been dominated by exploitation of natural resources, specifically crude and natural gas. Unfortunately, while the exploration ought to have actuated maximisation of benefits in the nation’s hydrocarbon resources (petro-chemicals), what we rather have is an industrial sector that generates its own power, and depends on long queues for imported and exorbitant fuel.

“We urge a shift from the “siddon look” attitude of political appointees to a purely technical and project-driven governance where performance is evaluated on the basis of measurable outputs and actual impacts. This is the only way Nigeria can grow and remain in line with the nation’s strategic development plan represented by Vision 20:2020 framework,” he said.

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Kwara Governor, Abdulrazaq Declares 24-hour Curfew

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Kwara Governor, Abdulrazaq Declares 24-hour Curfew

Kwara Governor, Abdulrazaq Declares 24-hour Curfew

Governor AbdulRahman AbdulRazaq

Following the outbreak of violence in some quarters of the State, Governor Abdulrahman Abdulrazaq of Kwara State has declared a 24-hour Curfew on the state starting on Saturday.

Governor Abdulrazaq made this known in a statewide broadcast on Friday night.

Recall that on Friday some residents of Ilorin, the Kwara State capital stormed the warehouses where the government stored COVID-19 palliatives expected to be distributed to citizens.

Also Read: BREAKING: Lagos Government Relaxes Curfew

The warehouses, located at the cargo warehouse of the International airport in Ilorin as well as the agro-mall located in the Sango area of the state were totally ransacked as residents struggled to pack as much food items as they could.

Abdulrazaq said, “Lives are being threatened. Businesses are being looted. Public properties have been targeted. This is unacceptable. It is not who we are.

“To curb these acts of criminalities, I hereby declare a 24-hour curfew in Ilorin metropolis from midnight today October 23rd, 2020. This is in line with Sections 1, 2, and 4 of the Public Order Act Chapter 382 Laws of Federation of Nigeria 2004.

“People are urged to stay indoors in compliance with this curfew. This will be reviewed as we watch developments.

“Our observation is that what has happened today is not a protest, it cannot be defended under any guide, it was a pure act of criminality as some people are hiding under the guise of nationwide protest.”

Continue Reading

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Lagos Policemen Brutalise PUNCH Journalists For Covering #EndSARS Protest

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Lagos Policemen Brutalise PUNCH Journalists For Covering #EndSARS Protest

Two PUNCH journalists, Femi Dawodu and Segun Odunayo, were on Wednesday brutalised by policemen guarding the Lagos State House of Assembly in Ikeja.

The duo had gone to cover events around the Alausa area, a major demonstration ground of the #EndSARS protesters calling for a total overhaul of the Nigeria Police Force.

According to the PUNCH, both Odunayo and Dawodu were recording a live video of activities in the area when the policemen accosted them and ordered them to stop the recording.

After showing the policemen their identity cards, indicating that they are journalists covering #EndSARS protests and monitoring compliance with the government-imposed curfew, the policemen became annoyed and pounced on them.

Odunayo said the policemen tortured them for four hours, adding that they stripped them of their clothes, laid them on the floor, beat them with a stick and guns, and took a video recording of them while torturing them at the Lagos State House of Assembly.

Odunayo said, “Femi and I were at the Secretariat in Alausa around 7 am and were doing a live video of the activities going on in the area. We were heading back to the expressway when a group of armed policemen accosted us at the Lagos State House of Assembly roundabout and immediately collected our phones. We showed them our ID cards, but they refused to let us go.

“What got the policemen annoyed was that we saw them using a stick and a rubber to beat a young man, and during the live video, they heard me saying that they were beating someone. So, after they arrested us, they tortured us and demanded that we should do another live video denying the statement, but we refused.

“Each Time we refused, they slapped us, used a stick to beat us, used the butt of their guns to hit our heads and bodies after stripping us of our clothes. All they wanted was for us to do another live broadcast to claim that we lied and we didn’t because we told the truth.”

Dawodu said it took the intervention of the state Police Public Relations Officer, Muyiwa Adejobi before they were released at the Alausa Police Station, adding that before their release, the policemen took their details, including their addresses, took a video record of them and threatened to go after them if any negative report was published about what happened.

He said, “The policemen were transferring the aggression of what is happening regarding the #EndSARS protest on us. They later took us to the Divisional Police Station in Alausa, and if not for the DPO, the policemen guarding the LSHA that arrested us would have done more grievous things to us.

“The PPRO and the DPO later spoke with them, and we were released.

“But despite his intervention, we were told to write statements. They collected our details, address, took video recordings of us making false statements during the torture, and threatened to use it to blackmail and go after us if we end up doing any bad report against them.”

Sahara Reporters

Continue Reading

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CCTV At Lekki Toll Gate Was Not Removed -Lekki Concession Company Says

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CCTV At Lekki Toll Gate Was Not Removed -Lekki Concession Company Says

Lekki Concession Company in their press release has debunked the rumour that the Lekki Toll Gate CCTV camera was not removed.

Lekki, Ikoyi tolls will rise on February 1 – LCC - Ivory NG

According to the press release by the company which condemns the unlawful killings of the peaceful protesters said no one gave the order for the removal of the Closed Circuit Television System as the CCTV is still intact as of the time of this report.

Speaking further, the concession company revealed that if the CCTV was to be removed, it would require the use of machinery to reach the heights that they have been installed.

Read the release report below;

Image

Continue Reading

Trending