News
Why Made-in-Nigeria will give small businesses a boost.
Nigerian Federal Government should be commended for putting the spotlight on local manufacturers through initiatives such as the Made-in-Nigeria Dress Days and an Executive Order compelling state agencies to direct at 40% of procurement to Made-in-Nigeria goods and services.
That’s according to Magnus Nmonwu, Regional Director for Sage in West Africa, who says a strong government push to encourage Nigerians to support locally made goods and services will help encourage entrepreneurship. This, in turn, could help spur diversification of the economy, create local jobs, and decrease unemployment. Made-in-Nigeria resonates with the theme of Africa Day (25 May)—“Building a better Africa and a better world”.
“Local service providers and manufacturers could play an important role in the revival of Nigeria’s economy,” he adds. “We welcome the effort to encourage industrialisation and diversify the economy from commodities into new areas. Strong local demand is the foundation of a manufacturing sector that can grow into an export industry.”
Local service providers and manufacturers could play an important role in the revival of Nigeria’s economy
Government is putting its money where its mouth is with its Executive Order and giving the public a good example to follow, says Nmonwu. However, there is scope for the public sector to do more to encourage the growth of small businesses in Nigeria, including tax incentives for local producers, support in accessing finance, and facilitating mentoring and skills development programmes between small business and bigger companies.
Government should encourage small businesses to adopt business software so that they can improve regulatory compliance and financial controls. This could also help in tracking the performance of those that benefit from state loans and incentives, and hold them accountable, says Nmonwu.
Infrastructure investment across roads, power, communications and ports are also important in spurring development of local industry, Nmonwu says. “There is enormous scope for government and the private sector to cooperate on creating polices and infrastructure that create an enabling environment for Nigeria’s business builders.”
Sage would support initiatives to put business information and tools online to help entrepreneurs build their skills and access the resources they need to be successful. Another good idea might be for government to put together advisory boards with representatives from big businesses, small companies, the government and other stakeholders to understand the voice of small business and develop appropriate policies to help drive them.
“Small businesses and start-ups are the engines that will power Nigeria’s growth into the future,” Nmonwu says. “The sooner we start supporting our proudly Nigerian suppliers and service providers, the better for us. With our support, they can create wealth and jobs for the country, and many of them could grow into globally competitive exporters.”
The Nigeria Customs Service (NCS) has announced a record revenue collection of N5.7 trillion as of November 12, 2024, surpassing its yearly target by 10 percent.
This was disclosed by the Comptroller-General of Customs, Adewale Adeniyi, at the ongoing 2024 Comptroller-General of Customs Conference in Abuja.
Themed “Nigeria Customs Service: Engaging Traditional and New Partners with Purpose,” the conference showcased the Customs Service’s progress in modernizing its operations and fostering collaborative partnerships.
“Today, I stand before you to demonstrate how our commitments in 2023 have evolved into tangible achievements,” Adeniyi stated.
He attributed the revenue growth to a series of reforms, including the implementation of a one-stop solution for cargo alerts, a revamped ICT infrastructure, streamlined inspection procedures, and enhanced automation.
Adeniyi explained that these changes reflect the agency’s commitment to elevating operational transparency and efficiency.
“We pledged to re-align our free trade operations, elevate cargo integrity standards, and expand our scanning capacities,” he said.
“Above all, we promised to usher in a new era of customs operations—one built on transparency, efficiency, and genuine collaborations with our partners.”
As of Tuesday, November 12, Adeniyi confirmed that the NCS collected N5.07 trillion, achieving the anticipated 10 percent revenue surplus.
“This performance validates our partnership-driven approach to revenue collection and trade facilitation,” he added.
Adeniyi also highlighted recent strides in trade facilitation, revealing that six companies have been selected to benefit from the Authorised Economic Operators programme, which provides fast-tracked customs clearance and other trade facilitation benefits.
Similarly, the NCS has processed 21 requests under an advance ruling programme, designed to expedite customs decisions on import and export cargoes before they reach Nigerian ports.
The Comptroller-General expressed optimism about the NCS’s potential to drive further economic growth, citing the agency’s commitment to fostering partnerships and advancing innovative practices within the customs sector.
Nineteen out of the thirty-eight directors who were shortlisted to fill permanent secretary vacancies within the Federal Civil Service have failed the qualifying examination, a memo from the Office of the Head of Civil Service of the Federation (OHCSF) revealed on Tuesday.
The memo, signed by Dr. Emmanuel Meribole on behalf of the examination committee, disclosed that the qualifying exam was conducted on Monday, November 11, 2024.
The Federal Government, through the OHCSF, launched the recruitment drive in October to fill permanent secretary vacancies in eight states.
Providing insights into the progress, Eno Olotu, Director of Press at OHCSF, stated, “Of the 38 eligible directors who sat for the exam, 19 have passed the first stage and will move on to the second stage, which will assess their competency in using Information and Communication Technology (ICT) in government operations on Wednesday, November 13, 2024.”
Olotu highlighted the rigorous three-stage selection process, designed to ensure that only the most capable individuals are appointed to these high-ranking civil service roles.
This comprehensive approach, according to OHCSF, aims to elevate the quality of leadership across federal ministries.
The directors who advance beyond the ICT proficiency test will face a final stage on Friday, November 15, 2024, where a panel of senior government officials and private sector experts will conduct a final evaluation to determine their suitability for the permanent secretary positions.
The Chairman of the House Committee on the Federal Road Maintenance Agency (FERMA) and representative of Ibarapa East/Ido Federal Constituency in Oyo State, Engr. Aderemi Oseni, on Saturday urged the community to unite in advancing key development projects aimed at transforming Ikogosi.
Speaking at this year’s Ikogosi Day celebration and the launch of a N1 billion development project in Ekiti, the lawmaker, who served as the Chairman of the occasion, emphasised the importance of unity and collective action.
He encouraged attendees to approach the celebration as a call to action for the betterment of their community.
“As we all know, Ikogosi is not merely a town; it is a treasured gem in the heart of Ekiti State and Nigeria as a whole,” he said. “Ikogosi, a historic and vibrant town, plays a vital role in the tourism and economic landscape of Ekiti State. Its rich cultural heritage and unique resources draw visitors and stimulate economic activities that benefit us all.”
“Today is not just a celebration; it is a call to action,” he continued. “Let us come together, united in purpose, to support these transformative projects that promise to uplift the Ikogosi community. I urge everyone here to invest their time, resources, and energy in this endeavor. Together, we can build a legacy of self-help and development that future generations will cherish.”
Reflecting on the broader challenges facing the country, Oseni encouraged the people of Ikogosi and all Nigerians to remain hopeful and resilient, assuring them of President Bola Ahmed Tinubu’s commitment to a brighter future for the nation.
“To the good people of Ikogosi and all citizens of Nigeria, I urge you to remain steadfast and hopeful. President Bola Ahmed Tinubu means well for all Nigerians. The APC-led administration’s Renewed Hope agenda holds the promise of a brighter future. Though the beginnings may be challenging, perseverance will guide us toward a prosperous new Nigeria,” he stated.
In a statement released by his media aide, Idowu Ayodele, the lawmaker lauded the Ekiti State government under Governor Biodun Oyebanji’s leadership for its transformative efforts in governance and development.
He acknowledged the strides made by the governor and praised his impactful initiatives, which have set Ekiti on a progressive path.
“First and foremost, let me commend the Ekiti State government under the leadership of His Excellency, Mr. Biodun Abayomi Oyebanji. The trailblazing development initiatives and effective governance during your tenure have not gone unnoticed,” Oseni remarked.
“Under your stewardship, we have witnessed remarkable progress and commendable governance that have undoubtedly made Ekiti State a shining example of peace and development,” he added.
-
Politics1 week agoOyo Rep, Oseni Pays APC Secretariat Staff Salaries, Donates N10m to Boost Party Operations
-
Health4 days ago
Oyo: Oseni to Launch Mobile Clinic Initiative to Revitalize Rural Healthcare
-
News2 days ago
Half of Shortlisted Directors Fail Federal Permanent Secretary Exam
-
Crime & Court1 day ago
EFCC Chair Raises Alarm on Rampant Fraud in Nigeria’s Electricity Sector
