The newly appointed director general of the Bureau of Public Enterprises (BPE), Mr. Ayodeji Ariyo Gbeleyi, has emphasised the need to fast-tracked the commercialisation and privatisation of some assets to add value to the nation’s economy.
Particularly, he said, the transactions that must be urgently fast-tracked include the optimisation of the National Integrated Power Projects (NIPP) to provide much-needed power and the revitalisation of the Bank of Agriculture to ensure food security.
He has also charged the staff of the bureau to work diligently as Nigerians look up to them to contribute their quota to pave the way for a more stable and prosperous economy.
According to a statement that was issued by the bureau on Monday, the new DG made remarks at his first meeting with the staff of the bureau at the Wells Carlton Hotel, Asokoro, Abuja recently.
Gbeleyi said the bureau has been entrusted with the reform of the nation’s public enterprises, which must be optimised for operational efficiency and excellence. He emphasised that the ultimate goal is to improve the standard of living for every Nigerian through the diligent implementation of the Bureau’s reform activities.
He said as part of the “Renewed Hope” agenda of President Bola Tinubu’s administration, his appointment has entrusted him with the mandate of strengthening the BPE as the national resource centre for capacity building and the sustenance of reforms.
According to him, the reforms include promotion of a competitive private sector-driven economy, ensuring social accountability, efficiently deploying public resources, and advancing effective corporate governance through discipline, which aligns with the Bureau’s mission.
He urged the staff of the Bureau to be innovative and work as a team to meet the expectations of Nigerians. “We must realise that there are limits to what we can achieve as individuals, but endless possibilities lie ahead of us as a team,” he said.
Gbeleyi was appointed director general of the Bureau on Saturday, June 15, 2024. The new DG has over 30 years of post-qualification experience in diverse sectors, including manufacturing, fast-moving consumer goods (FMCG), investment & commercial banking, project finance, telecommunications, infrastructure, and public administration.
The federal government has announced plans to inaugurate the next phase of Lagos- Calabar Coastal highway from Cross River to Akwa Ibom.
The minister of Works, David Umahi, disclosed this at the stakeholders engagement meeting held at Ibom hall in Uyo, Akwa Ibom state on Saturday.
This was contained in a statement by the ministry’s director Information and Public Relations, Edet Ekpenyong, on Sunday.
The minister was quoted as saying, “We are here to introduce Section Three and Four of the famous Lagos- Calabar Coastal Highway.
“We started and awarded Section One which started in Lagos and terminated at deep port in Lagos and is at 47.4km.
“There is Section Two that starts at Lekki Deep Sea Port and takes it to the famous Dangote Refinery.
“The President has graciously directed that Section Three and Four must start at Cross River and stop at Akwa Ibom.”
The minister added that Section Three has 27 km on Akwa Ibom and 38 km on Cross River State. While Section Four is entirely on Akwa Ibom that is 80 km.When you add 27 km and 80 km, you have 107 km. So, you are benefiting from maximising this coastal highway.
“When we complete the procurement process and award this Section Three and Four, work will start in many sub- sections of this section all at the same time.
“Tinubu is a man who matches his words with actions. So we are happy with the level of commendations and support we received from Nigerians and so many benefits of the coastal highway.”
Speaking at the event, the Senate President, Senator Godswill Akpabio, expressed his appreciation to President Bola Tinubu for listening to his plea to start Section Three and Four of the coastal highway in Cross River State to Akwa Ibom.
He called on the Akwa Ibom state governor, Pastor Umo Eno, to give maximum support to the federal government.
In other to stem the current drop of cargo importation into the country due to high exchange rate, the Central Bank of Nigeria (CBN) and the Nigeria Customs Service (NCS), have agree to achieve a stable rate for import of goods to enable business owners and importers plan activities, LEADERSHIP can reliably report.
The increase in exchange rate and volatility of the naira against the United States dollar has made importation into Nigeria ports dropped drastically.
For instance, vehicle volume dropped by 45 per cent while container traffic dropped to 30 per cent while bulk cargo dropped to 20 per cent.
Confirming the development, the comptroller general of Customs, Bashir Adewale Adeniyi, said the CBN and the NCS in support of the minister of Finance and Coordinating minister of the Economy, Wale Edun, are collaborating to achieve a stable rate for import of goods to enable business plan activities.
“With the support of the minister of Finance, NCS is working in close collaboration with the Central Bank of Nigeria to achieve a stable rate for import of goods to enable business plan activities,” the Customs CG said.
LEADERSHIP reports that the managing director of Centre for the Promotion of Private Enterprise (CPPE), Muda Yusuf, suggested fixing a permanent Customs exchange rate for cargo clearance between N900/$ and N1,000/$, for a specified period, such as three months, six months, or a year.
According to Yusuf, fixing a static exchange rate for cargo clearance over three months to one year would not only foster economic stability but also ensure predictability in international trade within the maritime sector.
However, speaking on the development, the former acting president, Association of Nigerian Licenced Customs Agents (ANLCA), Dr Kayode Farinto, said the only solution to low volume of cargoes at the nation’s seaports is for the CBN to have a predictive exchange rate for Customs purposes alone.
According to Farinto, in the last few months, there has been a significant drop in the volume of cargoes in the country over the non stability of the exchange rate.
“The only solution is for us to have a predictive exchange rate for Customs purposes alone. It’s not too much to ask. We pegged the exchange rate for pilgrims going to Saudi Arabia and Jerusalem during Buhari’s era. Why can’t we do the same for importers?”
“On Wednesday, the exchange rate was N1,474. By Thursday and Friday morning, it has increased. A cent is important to every business man because if you’re using a bank loan you have to put all these into consideration. We had a week where we had more than five exchange rates. That is not too good for our economy. We have three levels of importation.
We have bulk cargo, containerised goods and vehicles. The level of import on vehicles has dropped to about 55 percent, level of import on containers has dropped to about 30 per cent, and on bulk cargo it is about 20 per cent. So we are not really winning the war.
“The situation has not been very rosy for us in the industry particularly the freight forwarders. We are not faring well. We have some people who have actually left the job, some still remain thinking tomorrow will be a better day and we have some who have died. I can tell you that we lost a lot of members this year.
“My prediction is that the volume of imports will continue to nosedive if nothing is done. I’m also an importer. If you want to appreciate what I’m saying, go to the manufacturers’ association and ask them what they have imported in the last few months.”
He noted that the situation has also been difficult for freight forwarders, with many losing their jobs and some even losing their lives.
“Customs must negotiate with the CBN, draw them to the minister of Finance, sit on a round table and involve us. I have suggested a tripartite meeting between CBN, Customs and Ministry of Finance or CBN, Customs and freight forwarders and we will be able to tell the CBN that what they are doing is not helping the economy and if we continue like this, the economy will just go in shambles, perhaps they will listen to us but up till now nothing has been done about it.”
Also speaking, a clearing agent, Ikechukwu Anaba, importers are currently unable to import due to fluctuating exchange rate.
He stated further that while bulk cargo import dropped by 20 per cent, containerised goods dropped by 30 per cent, vehicle import is most hit as it dropped by 55 per cent.
“The unstable exchange rate set by the CBN for payment of import duty will continue to lead to a further drop in cargo volume at the nation’s seaports if the government fails to take prompt action to address the problem.
The economy has been experiencing a decline in cargo volume in recent months, with many importers and clearing agents struggling to cope with the fluctuating exchange rate. The situation has also been difficult for freight forwarders, with many losing their jobs,” Anaba stated.
Anaba, however, suggested fixing a permanent Customs exchange rate for cargo clearance between N800/$ and N1,000/$, for a specified period, such as three months, six months, or a year.
He argued that fixing a static exchange rate for cargo clearance over three months to one year would not only foster economic stability but also ensure predictability in international trade within the maritime sector.
The Nigeria Employers’ Consultative Association (NECA) is seeking collaboration with the federal government on President Tinubu’s administration reforms aimed to drive economic growth.
Director general of NECA, Adewale-Smatt Oyerinde sought the synergy at the third edition of the Nigeria Employers Summit in Abuja.
The summit was themed, “Economic Renaissance: Harnessing Government Reforms and Private Sector Agility.’’
Oyerinde said that President Bola Tinubu Administration within one year in office has introduced different fundamental reforms that would shape the growth trajectory of the country with impact on the private sector and households.
He said that the federal government needs credible organisations such as NECA to help to drive the reforms to a successful conclusion.
According to him, the summit aimed basically to discuss the reforms of the government and also to seek private sector collaboration with the government to achieve the objectives of the reforms.
He said, “One of the aims of the summit among many others is not just to interrogate the reforms but to find a way where we can create a deeper nexus between those reforms.
It is also to create an environment where the private sector can play a major role in facilitating the achievement of the objectives of those reforms as all reforms have their own objectives, It also to let government know that much can be achieved when we deepen the collaboration with the private sector and government towards the fulfilment of the 8 point agenda of this administration”.
“Because without the private sector involvement in those reforms, much cannot be achieved, also, because new reforms or policies need new adjustment modalities and there should be gestation periods to adjust to the new reforms in the country,’ ‘he added.
…As FG shaves 50% conversion cost for transporters
Motorists in Nigeria can save up to N326,670 in monthly fuel consumption costs by converting their vehicles to run on compressed natural gas (CNG), a cost-benefit analysis between use of premium motor spirit (PMS) and butane has shown.
This is as the Presidential Initiative on Compressed Natural Gas (P-CNGI) Programme Director, Michael Oluwagbemi, emphasised the federal government’s 50 per cent conversion cost reduction for transporters.
Managing director, Portland Gas, Folajimi Mohammed revealed that CNG-powered vehicles reduce fueling cost by 77 per cent in comparison to PMS petrol.
Speaking at the stakeholders’ engagement programme themed “Driving Sustainable Transportation: Accelerating CNG Adoption in Nigeria” yesterday at the NASENI-Portland Reverse Engineering Centre, in Abuja, Mohammed said with CNG, a motorist; transporter or otherwise, who currently consumes on average N14,000 worth of petrol daily would have this cost significantly reduced to N3,111 with CNG and that would result a savings of N326,670 monthly in addition to improving on millage.
Jointly organised by the Presidential Initiative on CNG and Portland Gas in partnership with NASENI, the forum brought together key stakeholders from the transportation sector to discuss and promote the adoption of CNG as a sustainable and economical fuel alternative in Nigeria.
The Portland gas boss said, “We are seeing close to about 77 per cent savings in cost alone. So without a doubt, we know that adoption of CNG is almost inevitable.”
He said ordinarily, the conversion cost is N1.2 million, which the vehicle owners can recover in a year.
He allayed fear that the gas is susceptible to catching fire, noting that it is lighter than air its chances of fire outbreak is slim.
“Is it safe? I am sure this is a very pertinent question everybody has asked. Why do I have gas in my truck? What happens in the event of an explosion?
“Let us make this understandable. The component of CNG is methane. CH4 is lighter than air.
“When we mean lighter than air, in the event there is any release of it, it goes and expresses into the air.
“Have there been incidents? Yes, there has been. But the chances are extremely very narrow.”
He said since gas cannot be adulterated it has an excellent combustion compared to any other fuel.
He explained that since the CNG points are still few, the conversion still makes provision for alternative fueling.
Mohammed also said P-CNGI registers the converted vehicle owners as beneficiaries of carbon credit.
Meanwhile, represented by Tosin Coker, the P-CNGI) programme director, Michael Oluwagbemi, said the initiative is boosting the sector by supporting the introduction of CNG buses and tricycles.
He said, “More importantly, in an effort to reduce the cost of public transport, we are catalysing the sector by supporting the introduction of CNG buses and tricycles (kekes).
“In the next few days you will witness these buses on the streets of Abuja, even as we also start to make conversion kits available at 50 per cent discount to the transport sector.”
Continuing, Oluwagbemi said that over $50 million has been mobilised in the CNG sector since the inception of the P-CNGI, a feat that was not attained in the last 10 years.
“Financing and Enabling Infrastructure: In December 2023, we hosted our first investor forum, which saw tremendous participation from companies now investing in the sector.
“I am pleased to report that well over $50 million has been mobilised directly by the sector since then, more than any amount mobilised in the last ten years combined,” he said.
He said the initiative is also enabling ordinary Nigerians, particularly transport operators, to convert their vehicles.
He recalled that on May 29, 2024, the initiative announced the Conversion Incentive Program, making it easier for Nigerians to adopt CNG.
He noted that the effort is supported by private sector partners, development funds, and banks, all eager to finance this transformative initiative.
The Program Director said developing this industry needs the active participation of the private sector that the government cannot do alone.
He added that “However private sector investors need open, fair, transparent and predictable regulations to feel secure and ensure their investments can thrive.
“To that effect, in collaboration with the Standards Organization of Nigeria, we approved over 80 standards and procedures for the CNG conversion industry in March 2024.
“Regulatory bodies, including NMPDRA, SON, FRSC, NADDC, and the National Board of Technical Education, are now working together to create a one-stop shop called the Nigerian Gas Vehicle Monitoring System (NGVMS).
“This streamlined process will ensure safety and efficiency for all stakeholders.
In the last few months, we have worked tirelessly with our core and affiliate partners, including our hosts today, to realise President Bola Ahmed Tinubu’s vision for Nigeria.
“We at Pi-CNG have set an ambitious target of 1 million vehicle conversions by 2027. One thing I know for sure, is that as Nigerians, if we are focused and determined, we can achieve anything. Indeed, Nigerians are the most innovative, resilient, adaptable and capable people anywhere in this world.
“ It is time for us to use our natural resources (our human resources for good) and our gas resources for the greater good, to drive our transportation sector and economy forward.”
The minister of Aviation and Aerospace Development, Festus Keyamo, says some private aircraft operating in Nigeria are being used for money laundering, drug trafficking and other illegal activities.
Keyamo made the revelation at the Ministry of Aviation in Abuja yesterday, when he inaugurated a Ministerial Taskforce Committee to checkmate illegal chartered operations in the country.
Though the minister did not mention the names of the airlines, he asserted that these illegal activities have made the sector lose billions of dollars and raised serious security concerns.
The minister further stated that some of those involved in the illegal activities are those who acquired licences for non-commercial flights operations but gone against the stipulated agreement of the licence
Addressing the committee members, Keyamo mandated that they take inventory of all non-commercial flights operators, investigate all professional licences and checkmate their authenticity as well as recommend disciplinary measures against airlines found culpable.
“It has come to my attention, through a series of disturbing reports, that the practice of illegal charter operations is thriving within the aviation industry, thereby undermining the efforts of the Nigerian Civil Aviation Authority (NCAA) and other regulatory bodies. These illicit activities have not only resulted in significant financial losses to the Federal Government, but have also raised security and safety concerns as the operations of private aircraft owners have remained largely unchecked and unregulated. This has also resulted in using these private aircrafts for other illegal activities.
“Last week, the National Security Adviser wrote to us, alerting us of the spike in money laundering, drug-trafficking and other illegal activities through the use of private aircrafts in the country. It appears that Private Non-Commercial Flight (PNCF) operators have become increasingly emboldened, continuing their illegal operations with the assistance of Air Operator Certificate (AOC) holders who collect tolls and list these illegal charters under their AOCs.
“Furthermore, we have received alarming reports that some crew members have not attended mandatory simulator training for nearly three years and are flying with fraudulently-obtained renewed licences. Many of these individuals are operating planes registered under PNCF but are conducting illegal charter operations with impunity.
“In light of these grave concerns and in alignment with two key objectives of our five-point agenda, I am compelled to take this decisive action. Today, I am pleased to announce the establishment of the Ministerial Task Force on Illegal Private Charter Operations and Related Matters.”
The eight-man committee was chaired by the chief executive office of Aero Contractors, Ado Sanusi, and the committee is expected to report all findings to the minister within the next three months.
The Task Force is charged with the terms of reference of taking inventory of all PNCF holders and AOC holders.
“To determine why the practice of illegal charters by PNCF holders persists in the country despite regulatory controls. To call in all professional licences of pilots and crew in the country and determine their authenticity and validity. To recommend to the Minister any additional measures to be taken by regulatory agencies to stem this ugly tide.
“To recommend appropriate sanctions to be imposed by the regulatory agencies on defaulters. To recommend additional measures to further monitor the operations and activities of private aircraft in Nigeria. Any other terms of reference that may be determined by the Minister as the Task Force continues its work.
“The members of the Task Force have been carefully selected from within the aviation industry and are people of high repute and integrity.
The members of the Task Force are, Capt. Ado Sanusi as Chairman; Capt. Roland lyayi as vice chairman; director of Air Transport, FMA&AD, secretary; Theresa A. Babaoye (DATR-NCAA) as Member and One Nominee from the National Security Adviser as member.
Others are, Capt. Daniel Quansah as member; Capt. Patrick Ogunlowo as Member; Obafemi Bajomo (SA-HMA) – Member.
“This Task Force is not only a response to the current challenges but also a proactive step towards ensuring the long-term sustainability and integrity of our aviation sector. We expect the Task-Force to work for three months, except circumstances require some extension.
“Together, we will work diligently to restore confidence in our aviation industry, eliminate illegal operations, and ensure that every flight in our skies adheres to the highest standards of safety and legality.”
With Nigeria’s external debt rising to around $45 billion amidst a flocking out of the country by investors, the Chief Executive of CFG Advisory, Tilewa Adebayo has stressed the urgent need for remedial legislation as well as an overhaul of the trade, industrialisation and investment policy of the country.
Latest data by the Debt Management Office (DMO) puts the nation’s debt both external and domestic at N121.67 trillion as at March 31, 2024, up from N97.34 trillion which it was at the last quarter of 2023. The figure covers obligations of the Federal Government and the 36 state governments and the Federal Capital Territory (FCT).
Speaking at the Bi-monthly forum of the Finance Correspondents Association of Nigeria (FICAN) in Lagos yesterday, Adebayo noted that whilst the country has received positive outlook ratings from credit rating agencies, the Caa1 rating of Moody’s Investor Services still classifies the country in the range of junk bonds.
He noted that “the unchecked fiscal expenditure and the unauthorised ways and means of financing, now over 30 times the limit at N30 trillion, remains a key risk to Nigeria’s economic recovery out of stagflation to sustained growth in 2024.”
Noting that debt servicing obligations of the country are set to surpass revenue, he noted that “all financial circuit breakers have been breached and there is need for remedial legislation.” Adding that the senate does not have the right to securitize the Ways and Means, he said “doing that is illegal.
“The government needs to negotiate with creditors to restructure and extend the maturities of debt, allowing for more manageable repayments and reduced interest rates. Ghana, Zambia and Ethiopia have all defaulted on external debt obligations. Nigeria should take a cue.”
Adebayo whilst commenting on the recent exit of the country by companies, said there is need “to take a look at the trade policy. Nigeria’s investment policy is in need for serious overhaul as investors are leaving in droves.
If the economy is going to work, trade investment industrial policy must be top priority for the government.
“Reviving the Nigerian economy in stagflation with low GDP growth, high levels of debt, and fiscal deficits is indeed a complex and challenging task. Nigeria, like many other countries facing similar issues, can pursue a combination of short-term and long-term strategies to reform its economy toward sustainable growth.
“The government needs to take austerity measures such as implementing fiscal discipline by reducing non-essential government spending, eliminating wasteful subsidies, and improving the efficiency of public services.
On taxation, he said the government ought not to raise taxes but rather “expand the tax base, improve tax collection, and introduce new sources of revenue, such as value-added tax (VAT) and property taxes. They also need to improve transparency and accountability in government spending to build public trust and attract foreign investment.”
The Chairman of Revenue Mobilisation Allocation and Fiscal Commission, (RMAFC), Muhammed Bello Shehu, has commended the outgoing members for their patriotism and commitment to nation-building through their effort to ensure that the commission is brought to a world class standard.
Shehu stated this during the valedictory plenary organised in honour of the twenty outgoing members of the commission whose tenure expired yesterday, according to a statement by the head, Information, and Public Relations, Maryam Umar Yusuf.
He said, “It has been our wish to reposition this Commission to become a worldclass Revenue Mobilisation Commission since we came here, we are still working in progress, we have tried, we are trying and we will continue to try”.
The chairman recalled the extraordinary support that they rendered to the Commission through their contribution to the various Committees they served in, despite the fact that RMAFC as an organisation is poorly funded. He prayed to God to reward them for their sacrifices and wished that they would be reappointed so that they could continue to support the Commission.
Members who spoke during the occasion eulogised the Chairman, M.B. Shehu for the achievements recorded under his stewardship.
According to them, these include the recommendation on the review of the salaries of Ambassadors and some political office holders, work on the review of the Federal Allocation Formula, staff training, and improvement of the general condition of the office.
The members however lamented the poor funding of RMAFC and called on all the stakeholders to support the bill to grant the organisation financial autonomy, which is presently before the Senate so that the commission could comfortably carry out its duties.
Speaking on this challenge, the member representing Benue State, Samuel Adaa Magbe said, “The Commission is not well funded. There is a lot of low morale among the staff of the Commission, because when you go out to monitor the activities of FIRS, the Central Bank, and so on, you see that there is a wide disparity between us and them. But I hope that the President will do something about that for this Commission to move forward.”
Another outgoing member, Adebayo Fari, representing Ogun State, called for adequate funding and human capital development.
He said, “One of the major things that has been a challenge here is the funding of the organisation. Aside from that, we have the issue of human capital. There have been moves by this administration under the leadership of M.B. Shehu to actually do a lot of training, but aside from that, I think there is still a need to recruit more hands in the areas of accounting, statistics, economics and tax administration, so that they can actually build a very big capacity to do their functions very well”.
Modu Ali Juluri member representing Yobe State remarked, ” RMAFC should be treated as a federation agency, rather than a federal government agency because the work that is done in RMAFC actually engages all the interests of the federation.”
He posited that RMAFC is a national commission that all tiers of government, federal, states, and local governments should really be interested in and therefore added his voice to the call to adequately fund and digitise it.
“I think the government should, first of all, digitalise RMAFC and ensure that it is well funded to carry out its activities.” He said.
The secretary to the Commission Nwaze Joseph Okechukwu, who gave the vote of thanks, praised the Honourable Chairman for the achievements so far recorded under his watch and described the tenure of the outgoing Commissioners as worthwhile. He noted that they were able to execute the national assignment that they were appointed to do and wished them success in their future endeavours.
The 20 outgoing members are: Dr. Chris Alonzie Akomas, Abia State; Anyang Sunday Okon, Akwa Ibom State; Chima Philip Okafor, Anambra State; Maagbe Samuel Adaa, Benue State; Ntufam Eyo-NSA Whiley Cross River State; Andrew Ogheneovo Agbaga, Delta state; Barr. Patrick Nworu Mgbebu, Ebonyi state; Victor Eboigbe, Edo state; Amujo Phillip Ajayi, Ekiti state; and Mohammed Kabeer Usman, Gombe State.
Others are: Kabir Muhammad Mashi. Katsina State; Umaru Faruk Abdullahi, Kano State; Prof. Olusegun Adekunle Wright, Lagos State; Aliyu Almakura Abdulkadir, Nasarawa state; Ibrahim Bako Bagudu Shettima. Niger State; Adebayo Adeniyi Fari, Ogun State; Olatokumbo Ajasin, Ondo State; Alexander Shaiyen, Plateau State, Modu-Aji Juluri, Yobe State, and Abubakar Sadiq Abdulkarim Gusau representing Zamfara state.
The members were appointed on the 26th of June 2019 for a tenure of five years, which expired midnight of yesterday, the 26th of June, 2024.
A support group of President Bola Tinubu administration known as Renewed Hope Agenda Support Group has said that efforts of the GCEO of the Nigerian National Petroleum Company Limited (NNPCL), Engr. Mele Kyari, towards refinery takeoff was in line with the President’s agenda for the downstream sector.
The group’s position was in reaction to a press conference by coalition of ethnic nationalities youth leaders in Nigeria, who called for the immediate sack of Kyari, claiming that he’s sabotaging the fixing of indigenous refineries, as well as frustrating the takeoff of the Dangote Refinery.
According to the group, Kyari has made a milestone in the overall development of Nigeria’s Oil and Gas sector, through his discovery of many oil wells across the country and repositioning of the NNPCL through his Transparency, Accountability, Productivity and Efficiency programme.
They stated that those calling for his sack were mere mischief makers, who were trying to distract President Tinubu from the good works he is doing.
They urged the President to ignore the detractors and as well urged Kyari to concentrate on performing his role for the betterment of the country.
The statement read, “We wish to commend Mele Kyari, CEO of the Nigerian National Petroleum Corporation Limited (NNPCL), for his efforts towards refinery takeoff which is in line with the President’s agenda for Downstream sector. Those calling for his sack are mere mischief makers, who are trying to distract President Tinubu from the good works he is doing.
“Weeks ago, at the Strategic Women in Energy, Oil And Gas (WEOG) Leadership Summit held at Petroleum Technology Trust Fund (PTDF) auditorium in Abuja. Kyari said: ‘looking ahead to the next decade, we envision a Nigeria propelled by the oil and gas industry: monetization of our vast 203 tcf gas resources, increasing crude oil production to 3 mbpd, raising domestic refining capacity to over 1 mbpd, expanding our retail network to over 1,500 stations across sub-Saharan Africa, growing our renewable energy portfolio, and optimizing dividend pay-outs to our shareholders.’
“He has been living up to his promise and has introduced reforms and is working night and day to ensure energy security in the downstream sector. We urge him to ignore detractors and concentrate on performing his role for the betterment of the country.”
The Standards Organisation of Nigeria (SON), on Wednesday, said imported goods account for over 80 per cent of substandard goods in the country.
This was disclosed by the director general of the organisation, Dr Ifeanyi Okeke, while responding to questions from participants at a general sensitisation on PAM scheme in Lagos.
Okeke who was represented by the director, product certification department, Engr. Onuchenyo Enebi, explained that the programme was to increase awareness of the scheme.
He pointed out that the initiative was introduced by SON to enable consumers verify the authenticity of all SON-regulated products in the markets in its continuous efforts to curb the influx of substandard imported goods into the country.
He lamented that imported goods account for over 80 per cent of substandard goods in the country, bemoaning that the nation’s manufacturing industry is already battling with the lingering effect that substandard goods have dealt on the economy and the myriad of challenges hindering the sector’s productivity.
‘’This scheme places the power to detect, reject and report substandard goods in our markets in the hands of the consumers by simply scanning a QR code with their smart phone or sending an SMS to 281 before they buy. It will no doubt better position us at SON to protect our fellow citizens and ensure that we all get value for our money,” he said.
“Despite the efforts of the organisation, substandard products are still being imported or manufactured and distributed in the country through the use of fake SON stickers on non-certified products amongst others. To curb this disturbing occurrence in the country, the SON introduced the Product Authentication Mark (PAM) to facilitate the verification of the source and quality products in the Nigerian market. PAM is a digital technology to complement the SON Conformity Assessment Programmes (SONCAP and MANCAP) in furtherance of the fight against substandard and counterfeit products in Nigeria,” he said
According to him, the PAM scheme will place Nigeria at an advantageous position at this time in history when Africa is looking to operate a borderless trade, with the actualisation of the Africa Continental Free Trade Agreement (AfCFTA), maintaining that
PAM would go a long way to ensure that Nigeria is not a dumping ground for substandard/inferior goods.
Also speaking, the Director, Inspectorate and Compliance Department, SON, Pius Manji, explained that Nigeria, like other countries across the globe, is plagued with the influx of substandard goods.
According to him, the influx of substandard goods are just like corruption which he said can only be reduced to its barest minimum, but not eradicated.
According to him, the cost of producing a sticker is astronomical due to its security features to guard against forgery, but stated that it has been subsidised to improve the services the agency renders to the public while also improving the lives of Nigerians through quality.
He noted that experience has shown that there are other routes through which people bring in goods to beat the system such as the SONCAP and MANCAP, so the PAM is more of a further check on all imported products.
“Even if we deploy all the staff of SON to check for substandard goods it will still not be enough considering the size of Nigeria and the distribution change. So far 10 local companies and manufacturing companies have already keyed into it.
“With PAM like the word says, the customers have the right to authenticate the product and verify the conformity of that product prior to paying for the products. The PAM sticker has 21 security features on it which is where a lot of people are expressing concerns, is a security print that has been practised in Kenya, Egypt, Uganda for over 10 years.
“PAM would curb the influx of substandard products because once there are no markets for substandard goods, these unscrupulous individuals will not sell. This is basically giving the Nigerian consumers the power to fight the influx of substandard products in addition to other measures we have put in place,” he assured.
