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Lagos State Governor Babajide Sanwo-Olu
Lagos State Governor, Mr. Babajide Sanwo-Olu

Lagos State Governor, Babajide Sanwo-Olu has expressed the need for Africa to industrialise and cease being a dumping site for industrial, commercial and consumer products from other countries.

Speaking at the Y2021 Africa Industrialisation Day, held in Alausa, Ikeja, Lagos, Sanwo-Olu said that industrialisation of Africa will serve a dual purpose of socio-economic empowerment, through job creation, and wealth generation opportunities for the people, while enhancing government revenue for government for provision of infrastructure and social services.

The Governor, who was represented by the Secretary to the State Government, Mrs. Folashade Jaji, declared that the State was not unmindful of the potentials available for socio-economic growth and regeneration, especially with its status as the hub of socio-economic and industrial activities in Nigeria and the ECOWAS sub-region.

His words: “We are committed to enhancing our potential through partnerships and collaboration with the private sector and other stakeholders, provision of incentives and implementation of policies that will encourage more entrepreneurs to jump on the industrialisation train.

“I urge you all, young and upcoming entrepreneurs in particular, to take advantage of the opportunities we have provided through relevant government agencies. Industrialisation is about adding value to the abundant primary products we are blessed with for greater and more rewarding returns, through local consumption and exports”, he said.

He further noted that the creation of the Africa Continental Free Trade Area (AFCFTA) has the potential of being a veritable platform for the opening up of the industrial space with available opportunities to promote free trade among component States.

In her opening remarks, Commissioner for Commerce, Industry and Cooperatives, Dr. Lola Akande, affirmed that the theme for this year; “Industrialising Africa: Renewed Commitment Towards an Inclusive and Sustainable Industrialisation and Economic Diversification”, is apt and timely.

She noted that the theme was a pointer to the fact that internal policies must be evolved to act as catalysts for local industries to facilitate industrialisation and economic diversification.

Mrs. Akande said: “I wish to also remind you of the need to begin to work out strategies that would give our Country comparative advantages as a nation in view of the Africa Continental Free Trade Agreement which Nigeria keyed into on 22nd July, 2019 in Niamey”.

“It is expected that once AFCFTA is fully implemented, it will create a single African market for goods and services, covering an estimated 1.2 billion people with a combined GDP of USD2.5 trillion across 55 member States,” she stated.

She noted that the Sanwo-Olu government had introduced the exhibition of locally fabricated machines, equipment and innovative projects from schools in Lagos State to create the desired linkage between machine fabricators, manufacturers of products and the end-users.

The Commissioner enjoined all stakeholders to take advantage of this opportunity and make efforts to create a synergy that would lead to value addition on the government’s path to industrialisation, economic recovery and growth.

Also, the Special Adviser to the Governor on Commerce, Industry and Cooperatives, Mr. Oladele Ajayi asserted that the annual event is a good platform to showcase innovative potentials of students in local machine fabrication and made in Lagos products.

He declared that the event will assist young entrepreneurs and industrialists to grow their businesses and create linkages for sustainable development.

While commending the State Government’s effort in sustaining the annual event, Ajayi submitted that the Week has encouraged young industrialists to thrive, despite the socio-economic challenges, and also encouraged the patronage of locally made products.

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Economic: Osinkolu Assures Nigerians Of Better Days Ahead 



Dr Olusegun Osinkolu


A financial expert, Dr Olusegun Osinkolu has appealed to Nigerians to exercise patients with the economic team put together by President Bola Tinubu, noting that relief will soon come.

Osinkolu assured that Nigeria will soon witness a great turn around by the time the economic team swings into full action.

“we will heave a sign of relief soon as the story would change for better”.

The Ayede-Ekiti born All Progressives Congress (APC) Chieftain in a statement issued on Friday and released to newsmen, described the appointments of the Central Bank of Nigeria Governor, Yemi Cardoso and Minister of Finance, Wale Edun as a round peg in a round hole.

Osinkolu, who was a banker of repute, described them as gentlemen and men of integrity, who are masters on their field of appointments.

He commended President Bola Tinubu for the appointments, describing it as well deserved and has raised the bar and shown that competence is the parameter for public service.

“I want to formally thank President Bola Tinubu for considering the duo of the CBN Governor and Finance Minister for their appointment.

I commend his open-mindedness to embrace and usher in vibrant patriots into the national mainstream politics.

“I wish to state that their appointment is not only well deserving, but also falls in line with Mr. President’s penchant for talent discovery that has characterised his bold and giant strides in Lagos state and the nation at large.

“I affirm that this particular appointment is a round peg in a round hole,”he stated.

He urged the duo of the CBN Governor and finance minister to focus on the vision and mission of Mr President, by refocusing through their short, medium and long term measures.

He assured Nigerians that the CBN and it’s Finance ministry under their watch will operate transparent monetary policies, while his administration will not tolerate and work towards correcting the errors made by past administrations.

He further urged the duo to comply with all constitutional duties and ensure that financial policies of the country are of international standard and in support of the Tinubu-led administration.

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Senator Natasha lauds NDDC, NLNG partnership on local content



Senator Natasha Akpoti-Uduaghan

Senator Natasha Akpoti-Uduaghan, lawmaker representing Kogi Central senatorial district has commended the pact between Niger Delta Development Commission (NDDC) and Nigeria LNG Limited (NLNG), to develop local content capacity.

Both NDDC and NLNG recently signed a Memorandum of Understanding (MoU) to leverage shared aspirations and collaborate on diverse fronts in the delivery of sustainable development projects in the region.

Reacting, Senator Natasha urged NDDC to consider the need to be the primary recruiters of their trained workforce to achieve effective service delivery.

She gave the charge on Thursday during an interactive session between Senate Committee on Local Content and the NDDC Managing Director, Samuel Ogbuku.

As the Chair, Local Content Committee, Natasha tasked the NDDC on the need to not only build capacity and equip their workforce but also engage them efficiently.

“NDDC should consider being the primary recruiters of their trained workforce. Artisans or skilled professionals such as ICT workers can be absorbed by NDDC contractors, which in turn, will enable the commission reach the most vulnerable and neglected youth,” she said.

She also pledged to partner with NDDC on building a database of artisans within the country to strengthen the workforce and by extension achieve microeconomic growth for Nigeria.

“Local Content Committee intends to deploy innovative thinking for positive results, thus, we are building a database of carefully profiled artisans who have been trained by NDDC, SMEDAN, etc.; and work modalities to have the oil & gas companies, as well as government contractors, recruit from the pool of verified workforce.

“This would help curb unemployment by keeping the jobs locally. Such a project would also help the Local content board, NDDC and other agencies monitor and evaluate the performance of our collective capacity-building efforts towards achieving a common microeconomic growth for Nigeria and Africa at large,” she added.

In his remarks, the NDDC MD accepted her proposal and looks forward to a synergy with the Local Content Committee to develop strategies, and in turn, engage trained workforce for employment opportunities.


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Update: 2024 Appropriation Bill Passes Second Reading At House Of Reps



House of Rep in Session

The House of Representatives has passed the N27.5 trillion 2024 budget for a second reading.

The House leader, Julius Ihonvbere, on Thursday, November 30, while leading the debate on the general principles of the budget, commended President Bola Tinubu.

Ihonvbere noted that national security and education which got significant allocations will be enhanced if implemented.

He said, “Nigeria will be more secure with the allocation to defence and security. As a teacher, I am impressed by the emphasis on basic education. I am sure that education will be better off this time.”


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