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Buhari signs PIB

Buhari approves amendment to 2022/2023 deep offshore oil block bid round

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President Muhammadu Buhari has approved the amendment of the 2022/2023 Deep Offshore oil block mini-bid process to accommodate concerns raised by potential local and international investors.

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) stated in Abuja on Saturday that the amendments would address concerns over the terminal date of the current administration to the closure of the bid schedule.

Chief Executive of the NUPRC, Mr Gbenga Komolafe, said in the statement that the amendments would also boost confidence in the transparency and continuity of the process.

Komolafe said following the approval by the president, the NUPRC had extended the deadline for the submission of bids to May 19.

He said it had also revised the timeline for concluding activities of contract negotiations and signing to between July 3 and July 28.

The extension of time would afford interested international oil companies enough time to enter into, and conclude necessary joint venture arrangements with indigenous companies.

It would also allow for proper evaluation of relevant data by all bidders, Komolafe said.

He added that the bid round was progressing in accordance with the Schedule which had been published as part of the guidelines.

“Outstanding activities for the conclusion of the exercise include the Technical/Commercial bid submission and the Ministerial Consent/Contract Negotiation and Signing.

“The Technical/Commercial bid submission involves data access, purchase, evaluation, bid preparation and submission, bid evaluation and publication of results was well as commercial bid conference and announcement of winners.

“The Commission is fully committed to conducting the bid round in a manner that guarantees the achievement of the objectives of the exercise,’’ he assured.

Komolafe added that constant interrogation and oversight of the process showed two concerns which the Commission felt might impact the success of the exercise if not immediately addressed.

He listed the concerns as the plan to conclude the bid process before transition to the in-coming government and the need to guarantee participation of qualified indigenous companies, working collaboratively with multinational oil companies.

The collaboration would leverage technology, funding and expertise in the deep offshore, he noted.

Komolafe said also that the NUPRC had announced the requirement for Joint Venture arrangements between international oil companies and indigenous companies and amended the guidelines accordingly.

He said the measure would address the issue of collaboration between indigenous and interactional oil companies and was also in consonance with, and supports the Nigerian Content requirements of the bid round.

Komolafe said it was also in accordance with the Nigerian Constitution which provided that resources of the nation should be harnessed in a manner that promoted national prosperity and efficient, dynamic and self-sustaining economy.

Buhari signs PIB

Buhari stops monopoly of Electricity, Railway

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President Muhammadu Buhari has moved electricity generation and distribution as well as railway from the exclusive power of the federal government.

States now have power to generate and distribute electricity alongside the federal government.

Also states can now construct rails.

These were contained in the 16 constitutional amendments which he signed on Friday, March 17, 2023.

He signed into law 16 bills seeking to amend various parts of the 1999 Constitution.

The Joint Senate and House of Representatives’ Special Ad Hoc Committee on the Review of the 1999 Constitution made this known on Friday.

The bills assented to by the President included those devolving powers from the Federal Government to the states as some items were moved from the Exclusive Legislative List to the Concurrent List in the Constitution.

The power devolution bills that passed legislative requirements include those on power, railway, airports and prisons as well as biometric and criminal records.

The President also signed the bills seeking to grant state legislature and judiciary autonomy.

The National Assembly in January transmitted 35 Constitution Alteration Bills passed by the state House of Assembly, out of the 44 bills sent to the states.

To amend a clause in the constitution (two-thirds or four-fifth) majority of each of the Senate and the House need to approve the amendment after which it will be transmitted to the state Houses of Assembly, where two-thirds or 24 out of the 36 of them have to concur.

Out of the 36 states, 27 Houses of Assembly – Abia, Adamawa, Akwa Ibom, Anambra, Bauchi, Bayelsa, Benue, Borno, Cross River, Delta, Ebonyi, Edo, Ekiti, Enugu, Imo, Kaduna, Kano, Katsina, Kogi, Lagos, Nasarawa, Niger, Ogun, Ondo, Osun Rivers and Yobe – forwarded their resolutions on the bills.

The House had urged Houses of Assembly in Gombe, Jigawa, Kebbi, Kwara, Oyo, Plateau, Sokoto, Taraba and Zamfara states “that are yet to forward their resolution on the bills to do so in fulfillment of their constitutionally imposed legislative obligation to the constitution amendment process.”

On Friday, however, a statement from the deputy speaker’s office quoted Wase as commending the President for assenting to “some momentous legislations.”

According to Wase, the legislation was fragmented into 16 bills. They are, “Fifth Alteration (1) The bill seeks to alter the Constitution of the Federal Republic of Nigeria, 1999 to change the names of Afikpo North and Afikpo South Local Government Areas; and for related matters.

“(2) to change the name of Kunchi Local Government Area; and for related matters; (3) to change the names of Egbado North and Egbado South Local Government Areas; and for related matters; (4) to correct the name of Atigbo Local Government Area; and for related matters; (5) to correct the name of Obia/Akpor Local Government Area; and for related matters.

“(6) The bill seeks to alter the constitution to provide for the financial independence of state Houses of Assembly and state Judiciary; and for related matters; (8) to regulate the first session and inauguration of members-elect of the National and State Houses of Assembly; and for related matters; (9) to delete the reference to the provisions of the Criminal Code, Penal Code, Criminal Procedure Act, Criminal Procedure Code or Evidence Act; and for related matters.”

One of the bills assented to by the President include the provision that presidents-elect and governors-elect should submit the names of persons nominated as ministers or commissioners within 60 days of taking the oath of office for confirmation by the Senate or state House of Assembly.

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Buhari signs facilitation bill on ease of doing business

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President Muhammadu Buhari has signed the Business Facilitation (Miscellaneous Provision) Bill 2022 also known as the Omnibus Bill into law.

Dr Jumoke Oduwole, Special Adviser to the President on Ease of Doing Business and Secretary, Presidential Enabling Business Environment Council (PEBEC) said this in a statement on Friday in Abuja.

According to Oduwole, the bill will aid the ease of doing business for small business owners in the country.

“This marks an important step in the delivery of an enabling environment for micro, small and medium-sized enterprises (MSMEs) in Nigeria.

“Presented as an Executive Bill, the Business Facilitation (Miscellaneous Provision) Act, 2023 is a legislative intervention by the PEBEC which amends 21 business related laws.

“It removes bureaucratic constraints to doing business in Nigeria.

“The new law also codifies the Executive Order 001 on Transparency and Efficiency in Public Service Delivery, the Administration’s first executive order, aimed at strengthening ease of doing business reforms across the country,” she said.

Oduwole said that “The PEBEC Secretariat is extremely grateful to see this Act come into fruition”.

According to her, it is a culmination of over four years of collaboration between public and private sector stakeholders.

“This includes the Federal Ministry of Justice, the Nigeria Bar Association Section on Business Law through the participation of over 40 law firms and consulting firms.

“The Nigerian Economic Summit Group (NESG), and the National Assembly Business Environment Roundtable (NASSBER) are also part of the team,” she said.

The PEBEC secretary said the Business Facilitation Act, 2023 consolidates the last seven years of PEBEC-led reforms.

Oduwole said it also demonstrated the Administration’s sustained commitment towards making Nigeria a progressively easier place to start and grow a business.

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Buhari inaugurates agriculture machinery development  institute

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President Muhammadu Buhari on Saturday in Lafia inaugurated the Agricultural Machinery and Equipment Development Institute (AMEDI) to boost food and agro production in the country.

The president inaugurated the project during his visit to Lafia on Saturday.

Prof. Mohammed Haruna, the Executive Vice Chairman of the National Agency for Science and Engineering Infrastructure (NASENI), said the establishment of AMEDI was a dream come true by the present administration.

He said that the conceptualisation of AMEDI Lafia was targeted at the use of science and engineering infrastructure to support the Presidential efforts in the attainment of food and nutritional security in Nigeria and for Nigerians.

Haruna pointed out that the establishment of the institute was in keeping with the president’s directive to establish six new Agricultural-Technology based institutes, one each per geo-political zone of Nigeria in 2021.

“AMEDI Lafia is the first to be completed among the six equals across the geo-political zones of the country.

“The peculiarity of our soil with inherent edaphic factors and peculiar topography require the production of Made in Nigeria agricultural implements, machinery and equipment that can support responsible and productive agricultural practices in the face of climate change.

“We are conversant with the Sustainable Development Goals and our national expectations to end hunger and create decent cum inclusive jobs for our youth and women,” he said.

The vice chairman said that NASENI had resolved to use the platforms of AMEDIs to modernise agribusiness in Nigeria and ensure sustainable scaling of agro-enterprises for new jobs and wealth creation.

He said: “As a modular agricultural institute, AMEDI Lafia and others when completed have a template to advance the injection of Science, Technology and Innovation (STI) in the agricultural space across the country.

“The in-built capabilities of the institutes will ensure the use of additive and SMART manufacturing platforms already acquired by NASENI system-wide to design, develop, assemble and produce agricultural and food processing implements for various classes of farmers.

“The main workshop in the institute shall become a model of SMART factory that will leverage cutting edge technologies to deliver Made in Nigeria products and market demand driven services that are suitable for both our farmers and arable lands.

“The crop-livestock integration farming model to be practiced in the experimental farm of the institute is strategic to training of farmers and agro-entrepreneurs on sustainable farming methods using land resource optimisation models.”

Haruna explained that AMEDI Lafia was equipped with Central Research Laboratory that would support the research activities along the various value chains of the target product lines of the institute.

“The institute has installed modern equipment for the processing of fruit juices, milk and other dairy products, tomato processing to mention but a few.

“Each equipment that is installed here is for backward integration, and multiple and improved versions would be produced by the institute for the benefits of farmers and agro-equipment industries that would be mass produced to meet the demand of the nation,” he said.

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Buhari pleads for 7 days to resolve the banknotes crunch

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President Muhammadu Buhari on Friday urged citizens to give him a seven-day window to resolve the currency crunch that has emanated from the implementation of the Central Bank policy to change high value Naira notes with newly designed ones.

The President said this while speaking to the Progressive Governors Forum who met with him at the Council Chambers, where they sought to share with him the negative impact of the Central Bank policy, which is undermining the painstaking efforts that have been put forth by this administration in transforming the economy.

He expressed that the objective of the policy was not to create hardship, rather, its aim is to provide the economy with much needed revitalisation and the benefits will be borne in the medium to long term.

Unfortunately, inefficiencies and underhanded practices being carried out on the part of our banks as the primary distribution medium, have destabilised the smooth and successful execution of the policy.

 “Some banks are inefficient and only concerned about themselves,” said the President, “an extension of the time frame within which to complete this process will be made insignificant for as long as greed and selfishness continue to guide our actions.”

The President said he had received and seen televised reports about cash shortages and undue hardships that local businesses and the citizens are being subjected to and gave assurances that the balance of the seven of the 10-day extension will be used to rectify whatever issues that pose a threat to successful implementation.

While continuing to monitor the situation, the President assured that he will be meeting with both the CBN and the Security and Minting Company and a decision will be taken based on current realities in the best interest of the people.

The Governors while briefing the President, reiterated their position which is in full support of the policy decision to redesign the currency, and were convinced about the intent behind its thinking, but shared their concern regarding the current fallout which has a debilitating impact on their constituencies.

They told the President that, as leaders within the party and the government in their various states, they were becoming anxious regarding the economic impact and the potential erosion to our democratic process, particularly the upcoming general elections.

They, therefore, requested that the President directs an adequate injection of the new notes and the continued utilisation of the old ones until the end of the year.

The President stated that when considering the policy, prior to its initial approval, he demanded an undertaking from the CBN that no new notes will be printed outside the country, and he received firm assurances that there was enough capacity, manpower and equipment for the domestic execution of this exercise.

However, he would interrogate these assurances as part of his engagement with the responsible agencies of government. Finally, he thanked the Governors for bringing the cries of the people to him, given their proximity to them and assured that there will be a solution to the problem.

In addition to the leader of the delegation, the Governor of Kebbi State, Senator Abubakar Atiku Bagudu, who is the Chairman of the Progressive Governors Forum, eleven other governors were present at the meeting

Naira

Buhari to interrogate CBN, others over new Naira

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President Muhammadu Buhari says he will interrogate the Central Bank of Nigeria (CBN) and other government agencies involved in the printing and distribution of new Naira notes in Nigeria.

Mr Garba Shehu, the Senior Special Assistant to the President on Media and Publicity, said  in a statement that the president made this position known when he met with members of the  Progressive Governors Forum on Friday in Abuja.

The Governors were in the presidential villa to share with the president the negative impact of the Central Bank policy.

According to the governors, the currency re-design policy is undermining the painstaking efforts that have been put forth by this administration in transforming the economy.

The President stated that when considering the policy, prior to its initial approval, he demanded an undertaking from the CBN that no new notes will be printed outside the country.

Buhari disclosed that he received firm assurances that there was enough capacity, manpower and equipment for the domestic execution of this exercise.

He, however, maintained that he would interrogate these assurances as part of his engagement with the responsible agencies of government.

President Buhari, therefore, urged citizens to give him a seven-day window to resolve the currency crunch that had emanated from the implementation of the Central Bank policy to change high value Naira notes with newly designed ones.

According to him, the objective of the policy is not to create hardship, rather, its aim is to provide the economy with much needed revitalisation and the benefits will be borne in the medium to long term.

”Unfortunately, inefficiencies and underhanded practices being carried out on the part of our banks as the primary distribution medium, have destabilised the smooth and successful execution of the policy.

”Some banks are inefficient and only concerned about themselves.

”An extension of the time frame within which to complete this process will be made insignificant for as long as greed and selfishness continue to guide our actions,” he added.

The President said he had received and seen televised reports about cash shortages and undue hardships that local businesses and the citizens were being subjected to.

He, therefore, assured that the balance of the seven of the 10-day extension would be used to rectify whatever issues that pose a threat to successful implementation of the currency swap policy.

While continuing to monitor the situation, the president assured that he will be meeting with both the CBN and the Security and Minting Company and a decision will be taken based on current realities in the best interest of the people.

The governors while briefing the President, reiterated their position which is in full support of the policy decision to redesign the currency, and were convinced about the intent behind its thinking, but shared their concern regarding the current fallout which has a debilitating impact on their constituencies.

They told the President that, as leaders within the party and the government in their various states, they were becoming anxious regarding the economic impact and the potential erosion to our democratic process, particularly the upcoming general elections.

They, therefore, requested that the President should direct an adequate injection of the new notes and the continued utilisation of the old ones until the end of the year.

The president thanked the Governors for bringing the cries of the people to him, given their proximity to them and assured that there would be a solution to the problem.

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Diversification, digital economy successful – Buhari

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President Muhammadu Buhari has said that the digital economy sector has been most successful in the diversification of the nation’s economy, saving the Federal Government over N45.7 billion in IT projects clearance.

The President stated this Thursday at the State House, Abuja, when he unveiled and launched two new policies developed by the Ministry of Communications and Digital Economy.

Linking the two policies to the diversification and prosperity of the economy, President Buhari said the National Policy on the Nigerian Government Second-Level Domains and the National Data Policy, are central to accelerating the development of the nation’s digital economy sector, adding that this administration would continue to develop policies and programmes in furtherance of the diversification of the economy:

“In the last three  and a half years, we have intensified the development of policies, design of programmes and implementation of projects in the digital economy sector and the impact has been very impressive.

“For example, we have succeeded in diversifying our economy to a large extent and this is obvious when we consider the contribution of the ICT sector to our Gross Domestic Product (GDP) in the second quarter of 2022 which stood at 18.44%, compared to the contribution of the oil sector to the GDP which was 6. 33% in the same period,” he said.

The President noted that Nigeria’s strides towards a thriving digital economy started on October 17, 2019 with the redesignation of the Ministry of Communications and Digital Economy and the restructuring of its mandate, stressing that the changes have been phenomenal. 

“We are proud of the great strides of our digital economy sector and the impact it has had on the different sectors of our economy and I commend the Honourable Minister for being committed to the implementation of the digital economy mandate.

“As part of our commitment towards ensuring the sustainability of our gains in the digital economy sector, we have taken steps to institutionalise the process by developing relevant policies and strategies,” President Buhari further stated.

According to him, a total of 21 new national policies and strategies have been developed by the Federal Government since 2019.

” The policies and strategies are national instruments to support Nigeria’s digital economy at the national and sub-national levels. The national policies have led to significant development across all sectors of our economy.”

On the issue of digital identity for the country, President Buhari declared that the present administration has actively promoted it as key to a sustainable and secure development of our digital economy which will ultimately promote the use of the right identity by all Federal Public Institutions.

While noting that “the National Policy on Nigeria Government Second-Level Domains is a welcome step in this direction,” he directed that all government officials should refrain from using private emails for official purposes and Federal Public institutions (FPIs) must migrate their websites to the relevant government domains.

On the recent deployment of Starlink services by SpaceX in Nigeria, first of its kind in Africa, the President expressed his delight, declaring: 

“We are glad that Starlink services are already deployed in Nigeria. This has made Nigeria the first and only African country to have this link. With the deployment of Starlink services in Nigeria, we have 100 percent broadband penetration in Nigeria.”

Earlier, Minister of Communications and Digital Economy, Professor Isa Ali Pantami said that the two policies being launched were outcomes of compliance with the President’s directive to come up with a National Policy that was earlier approved by the Federal Executive Council, noting that the policies were targeted at consolidating on the gains achieved so far in the digital ecosystem.

Enumerating the benefits to be derived from implementing the policies, the Minister said the Ministry relied on relevant provisions of the Constitution of Nigeria 1999 as amended, and the NITDA Act 2007, with the belief that they would go a long way in consolidating the achievements in the digital economy sector.

On the National Data Policy, Prof. Pantami reiterated the indispensability of data in national life, emphasizing that data was critical and could be leveraged on for the development of other sectors of the economy.

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Buhari flags off Lekki Deep Sea Port, Imota rice mill, Bestaf Lubricant

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President Muhammadu Buhari on Monday officially inaugurated the Lekki Deep Sea Port, Imota Rice mill and Bestaf Lubricant of MRS.

The Port is located in Itoke village, Ibeju-Lekki, Lagos, observing the offloading from CMA CGM Mozart at the Quay.

This project with an investment in excess of $1.5 billion is a Joint Venture between the Federal Government of Nigeria through the Nigerian Ports Authority, Lagos State Government, the Tolarams Group (the owner of the Lagos Free Zone), and China Harbour Engineering Company.

In Lagos, the President also inaugurated the Imota Rice Mill, conceptualized and completed by Governor Babajide Sanwo-Olu of Lagos State as well as the Bestaf Lubricant at MRS Holdings Company Limited.

The 200 million litres lubricant plant, which covers the whole value chain of lubricants, is the first of its kind in West Africa.

On Tuesday, the President will inaugurate the historic first Phase of the Blue Line of the Lagos Rail Mass Transit in Marina and the John Randle Centre for Yoruba Culture and History at Onikan roundabout.

At the commissioning of the Lekki Deep Sea Port, the President led Governor Babajide Sanwo-Olu of Lagos State, the Minister of Transportation, Muazu Sambo, the Chinese Ambassador to Nigeria, Ciu Jianchun, top government officials and traditional rulers, to witness the overloading from the Container Ship, sailing under the flag of Malta.

Speaking at the occasion, the Lagos Governor said:

”Mr President, we are happy this is happening in your time. It all started in your time and it’s been completed in your time.

”We are excited that the size of the vessels that will berth at the port would be four times the size of vessels that currently berth at Apapa and Tin Can Island Port.

”We are excited that in your own time, something fresh has been birthed in this country and it is going to generate thousands of direct and indirect jobs.”  

The Minister of Transportation noted that the commissioning of the project was made possible by the expedited manner the President handled all requests made by the Federal Ministry of Transportation concerning Lekki Deep Seaport.

”The very fact that the letter of intent between the proponents of Lekki Deep Seaport and its financial partners was signed as recently as April 2019 and by January 2023 the wide-ranging impact project is already being commissioned is a testament to the tenacity of purpose of the Federal Ministry of Transportation through the Nigerian Ports Authority.”

He thanked the President for approving the Ministry’s extraordinary request to designate Lekki Deep Seaport as Customs Port and approved Wharf and its publication in the Federal Government Official Gazette in record time.

”With Seaports being under the exclusive legislative list, the Nigerian Ports Authority’s provision of a sinking fund for Lekki Deep Seaport Federal Government’s equity contribution gave this project the necessary statutory cover and financial guarantee in line with the law.

”Completing a project of the magnitude and impact of a deep seaport in a record time of 45 months shows the effectiveness of tenacious ministerial supervision, strict regulatory oversight and strong presidential backing.”

Sambo, who described the project as one of the major legacies of this administration, added that over 170,000 jobs would be created as operations commence.

The Chinese Ambassador to Nigeria, in his goodwill message, said the landmark gateway project jointly built by five parties from four countries is a fitting example of a good business model.

”This project is a joint venture between China, Nigeria and Singapore, and is run by a French company. The model of ‘five parties from four countries’ is a way of taking advantage of the wisdom and strength of all parties.”

He pledged that China would promote this business model to pursue the Win-Win outcome, particularly to the growth, development and progress of Nigeria.

Using the analogy of three initial ‘E words’, the Ambassador said the project is Engine of the Economy, Equity of Investment and Example of Model Business.

On Engine of Economy, Jianchun explained that the Port is the number one deep sea port in West Africa and one of the most modern and efficient ports in sub-Saharan Africa.

”It is estimated that the overall economic benefits will reach more than 360 billion USD, becoming a new engine of economic development that will empower the southwest region and the whole country.”

As an equity investment, the Ambassador described the port as a valuable practice for Chinese companies to move from the role of Engineering, Procurement and Construction (EPC) contractor to a strategic investor in building major infrastructure projects in Nigeria.

”The government doesn’t need to worry about the existence of guarantees or debt risks. It also shows that the investment climate in Nigeria can be trusted. We have every reason to be confident in Nigeria’s future development.”

The Managing Director, Nigeria Export Processing Zones Authority (NEPZA), Prof. Adesoji Adesugba, recalled when the construction of the port began in June, 2020, with the flag-off by Mr. President, very few Nigerians believed that it would become a reality, especially with the challenges of COVID 19 ravaging the country and the entire world at that period.

”Therefore, we should all be proud as Nigerians that this has not only become a reality, but a Free Zone has built and completed the largest sea port within four years which will reposition Nigeria as a regional hub globally for maritime business.”

He pledged that NEPZA would continue to give Lagos Free Zone, and indeed, all free zones licensed under it, the institutional support required to sustain this project and all other projects being conceptualized in the free zones.

”We are ready to lead in partnering with agencies at National and Sub-National levels, and the private sector to provide the needed support for this investment to thrive.

”Particularly, we will partner with the Nigeria Custom Service to perform its role effectively in order to achieve the objective of making this project stand as a testament to the legacy of President Muhammadu Buhari.

”We must not allow the momentum generated by the commissioning today to wane. All hands must be on deck to sustain this reality, ” the head of Nigeria’s free zone regulatory authority said.

At the Bestaf Lubricant plant owned by Sayyu Dantata, the founder and CEO of MRS Holdings Limited said the plant, which has the capacity of producing 1,700 different products, will contribute to foreign exchange generation for the country, through products export, as well as meet the needs of other neighbouring countries.

Trade

Buhari urges Africa to diversify, boost international trade

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President Muhammadu Buhari has urged African countries to expand and diversify their participation in international trade to explore the benefits of the African Continental Free Trade Agreement (AfCFTA).

Buhari made the call at the ninth African Shippers’ Day with the theme: “African Continental Free Trade Agreement: A Veritable Platform for African Shippers’ to Mainstream into Global Trade,” on Monday in Lagos.

Buhari said that the participation of African countries in international trade would create wealth, generate employment and reduce poverty.

He noted that the volume of African export in the global trade was still very low at three per cent in spite of the growth in the continent.

Buhari was represented at the event by the Minister of State for Transportation, Mr Ademola Adegoroye.

He noted that deepening regional integration to scale up supply capacity and build regional value chain was essential to the continent’s economic transformation.

“For AfCFTA to have a positive influence on long-term investment in productive capacities, African government must develop appropriate supporting policies, build the requisite infrastructure and ensure an educated work force.

“We will need to actively promote productive employment and decent work place, women’s empowerment, food security and reduction in inequalities,” he said.

Buhari, however, said in Nigeria, AfCFTA would be a game-changer when it comes to stimulating intra-African trade because the more ambitious the trade liberalisation, the greater the expansion of Nigerian exports to its African partners.

“Specifically, Nigeria’s exports to the rest of African will increase by more than 15 per cent in fishery, textile, leather, wood and papers, metals, electronics, vehicles and transport equipment and machinery.

“Following the AfCFTA reform, Nigeria’s exports will increase significantly to other African sub-regions, outside West Africa, with most impressive expansions to countries such as Botswana, Cameroon, Egypt, Ethiopia, Kenya, Malawi, Morocco, Mozambique, Namibia, Rwanda, Tanzania, Uganda and Zimbabwe,” Buhari added.

He said making AfCFTA a reality would require creating national institutions for implementation of the agreement.

The president also stressed that the need for collaboration between the public and private sectors as well as donor agencies.

“That is why the Nigerian government have intensified efforts aimed at identifying new opportunities for diversification and value chain development under the AfCFTA, and complementary actions considered necessary to overcome the existing constraints to intra African trade.

“This, we will, achieve through cross sectoral approach, considering not just trade, but also closely related areas such as agriculture, industry, macroeconomic management and infrastructure development,” he said.

He noted that for AfCFTA to be the platform that would propel African importers and exporters onto the global trading platform, participating member countries must undertake bold domestic structural reforms to scale up the supply capacity of the region.

In his contribution, Dr Bashir Jamoh, the Director-General, Nigerian Maritime Administration and Safety Agency (NIMASA), urged the forum to come up with roadmap that would place Africa ahead of others in the international market.

Jamoh noted that collaboration between shipping, port and logistics would go a long way in ensuring efficiency and sustainability in the industry.

On his part, Mohammed Bello-Koko, the Managing Director of the Nigerian Ports Authority (NPA), said that automation remained vital tool for port efficiency.

Bello-Koko said that was why the NPA was working with the International Maritime Organisation to deploy Port Community System in Nigerian Ports to bring all stakeholders under one platform for ease of doing business.

Earlier, Mr Emmanuel Jime, the Executive Secretary, Nigerian Shippers’ Council, said the re-orientation and re-organisation of intra-African trade should start from the sub-region.

According to him, when the region gets it right in West and Central Africa, it will be much easier to connect and freely trade with other regions of the continent.

Jime noted that African countries need to create smooth integration of their transport networks and trade policies as well as the required awareness among the economic operators in the sub-region.

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Buhari urges global synergy to reduce debt burden, curb inflation

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President Muhammadu Buhari on Friday urged leaders of the Global South to agree on a common agenda on ways to reduce the increasing burden of debt and inflation on that region of the world.

Addressing the Global South Virtual Summit, the President expressed optimism that the meeting, hosted by India, in its capacity as the voice of the South, will address issues of climate change, food security and access to energy.

‘‘This huge debt burden has significantly derailed many countries’ development plans. The effect of the Covid-19 pandemic and the Russia/Ukraine conflict has further aggravated the situation.

‘‘In this regard, I wish to advise fellow leaders to agree on a common agenda to enable us to put forward our collective demands to the Global North through India as voice of the South.

‘‘I would urge India to further intensify efforts to facilitate the flow of Foreign Direct Investment to the Global South using its leverage as President of G20,’’ the Nigerian leader said .

Expressing appreciation to the Prime Minister of India, Narendra Modi, for inviting him to participate in the Summit, President Buhari noted that the Global South was driven by historical ties and sense of deep solidarity in pursuit of bridging the gap between the South and the North.

He described as very commendable the initiative to convene the summit entitled ‘‘the Voice of the Global South’’ under the theme: Unity of Voice and Unity of Purpose.

He hailed India’s emergence as voice of the Global South, considering the role the country played during its two-year terms at the United Nations Security Council and the humanitarian gesture it extended during the Covid-19 pandemic.

‘‘Excellences, it is in line with the vision of One Earth, One Family, One Future that India calls for this Summit, bringing together leaders of the South to share their perspectives and priorities on a common platform ahead of the G20 Summit later this year.

‘‘Nigeria is in full support of this noble initiative and hope that the outcome of the Summit will be given top priority at the G20 meetings,’’ President Buhari said.

Leaders of India, Kazakhstan, Ecuador, Ghana, Sri Lanka, Suriname and Peru delivered statements at the Summit.

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