Business News
Nigeria losing billions to underutilized fish farming potential – NFAN
The National Fish Association of Nigeria (NFAN) has disclosed that Nigeria is losing billions of naira due to lack of fish farming in the country.
The National Fish Association of Nigeria (NFAN) has disclosed that Nigeria is losing billions of naira due to low level of fish farming production in the country. The disclosure was made in a communiqué issued at the end of a two-day workshop of the South-East Zone of the association in Abuja.
The association has called on the Federal Government to increase its efforts in curbing importation and encouraging local production of the commodity to enable the country maximise its benefit.
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According to NFAN in the communique signed by the National Publicity Secretary of NFAN, Chidike Ukoh, Nigeria needs to look inwards and tap into the huge potential in fish production.
“Nigeria is blessed with rivers and other bodies of water with various species of fish as well new technology in fish farming techniques.
“This will not only generate income for government but guarantee healthy fish consumption and increased job opportunities,” said NFAN.
Commenting on the workshop called ‘Fish production, processing and certification for export’, NFAN said that it was held to bring relevant stakeholders from within and outside the country to brainstorm and develop strategies to maximise fish production.
Recommendations: In the statement, the Fish Association recommended lending incentives, capacity building, among others as areas to look into in repositioning the subsector.
“The role of NIRSAL is key in facilitating agricultural lending incentives through commercial banks at a single-digit interest rate and with risk reduction guarantees.
“Fish farmers’ cooperatives’ structures also ought to acquire new skills and techniques to access funding, inputs and off-taker and market arrangements under the Anchor Borrower Programme.
“There is equally the need to grow the country’s Gross Domestic Product from the fisheries and aquaculture subsector through empowerment of related businesses for increased and sustainable production,” it added.
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What you should know: Fish farming, if given utmost priority, can be valuable to the economy. Apart from producing enough fish to meet the nation’s demand, it can also be exported to other countries to be used as raw material in manufacturing industries for productions of glues, paints, medications and so on.
Fish farming can also be a viable sector for foreign investments because when it attracts the attention of foreign investors, it will, in turn, be of advantage as it will boost the country’s economy.
Energy
Electricity tariff increase is suspended for 2 weeks
The FG and the Nigerian Labour Unions have agreed to suspend the electricity tariff increase for a period of two weeks.
Business
Just-in: NLC, TUC suspend nationwide strike
Hike in electricity tariff to be suspended for 2 weeks, while new pump price of petrol remain unchanged.
The Nigerian Labour Congress (NLC) and the Trade Union Congress (TUC) have suspended the planned nationwide strike and protest that was to commence on Monday, September 28, 2020, over the recent hike in electricity tariff and petrol pump price.
This follows the agreement reached between the Federal Government and the organized labour during the meeting held by both parties which started on Sunday night and dragged on till the early hours of Monday morning.
The disclosure was made by the Minister of State for Labour and Employment, Festus Keyamo, through a tweet post on his twitter handle.
In the agreement between the Federal Government and organized labour, the hike in electricity tariff is to be suspended for a period of 2 weeks, while the new pump price of petrol is to remain unchanged.
According to the agreement, which was seen by Nairametrics, both parties agreed to set up a technical committee on Electricity Tariff reforms, comprising Ministries, Agencies, Departments, NLC and TUC, which will work for a duration of 2 weeks with effect from Monday, September 28, 2020, to examine the justification of the new policy in view of the need for the validation of the basis for the new cost-reflective tariff.
This is due to the conflicting field reports which appear different from the data presented to justify the new policy by NERC, metering deployment, challenges, timelines for massive rollout.
The technical committee is to be headed by the Minister of State for Labour and Labour, Festus Keyamo.
Other members of the committee include the Minister of State Power, Godwin Jedy-Agba, Executive Chairman, National Electricity Regulatory Commission (NERC), James Momoh, Special Assistant to the President on Infrastructure, Ahmad Zakari as the Secretary.
Also in the committee are Onoho’Omhen Ebhohimhen, Joe Ajaero (NLC), Chris Okonkwo (TUC) and a representative of electricity distribution companies.
The terms of reference for the technical committee include;
- To examine the justification for the new policy on cost-reflective electricity tariff adjustments.
- To look at the different Electricity Distribution Companies (DISCOs) and their different electricity vis-à-vis NERC order and mandate.
- Examine and advice government on the issues that have hindered the deployment of the 6 million meters.
- To look into the NERC act under review with a view to expanding its representation to include organized labour.
FG & LABOUR reach agreement at 2:53am. Deregulation to stay as Govt rolls out palliatives for labour (details in 2 weeks); Electricity tariffs suspended by Govt for 2 weeks with a joint Committee headed by @fkeyamo to examine the justification for the new policy. Strike suspended pic.twitter.com/9tOTlJ9o1l
— Festus Keyamo, SAN (@fkeyamo) September 28, 2020
Coronavirus
COVID-19 Update in Nigeria
On the 27th of September 2020, 126 new confirmed cases and 2 deaths were recorded in Nigeria
The spread of novel Corona Virus Disease (COVID-19) in Nigeria continues to record increases as the latest statistics provided by the Nigeria Centre for Disease Control reveal Nigeria now has 58,324 confirmed cases.
On the 27th of September 2020, 126 new confirmed cases and 2 deaths were recorded in Nigeria, having carried out a total daily test of 3,011 samples across the country.
To date, 58,324 cases have been confirmed, 49,794 cases have been discharged and 1,108 deaths have been recorded in 36 states and the Federal Capital Territory. A total of 505,556 tests have been carried out as of September 27th, 2020 compared to 502,545 tests a day earlier.
COVID-19 Case Updates- 27th September 2020,
- Total Number of Cases – 58,324
- Total Number Discharged – 49,794
- Total Deaths – 1,108
- Total Tests Carried out – 505,556
According to the NCDC, the 126 new cases were reported from 12 states- FCT (30), Lagos (24), Rivers (23), Ogun (13), Katsina (9), Plateau (9), Ondo (6), Kaduna (4), Kwara (4), Imo (2), Bauchi (1), Edo (1).
Meanwhile, the latest numbers bring Lagos state total confirmed cases to 19,239, followed by Abuja (5,674), Plateau (3,388), Oyo (3,254), Edo (2,624), Kaduna (2,397), Rivers (2,347), Ogun (1,836), Delta (1,802), Kano (1,737), Ondo (1,631), Enugu (1,289), Ebonyi (1,040), Kwara (1,032), Abia (891), Gombe (864). Katsina (857), Osun (827), Borno (741), and Bauchi (698).
Imo State has recorded 568 cases, Benue (481), Nasarawa (449), Bayelsa (398), Jigawa (325), Ekiti (321), Akwa Ibom (288), Niger (259), Adamawa (237), Anambra (234), Sokoto (162), Taraba (95), Kebbi (93), Cross River (87), Zamfara (78), Yobe (76), while Kogi state has recorded 5 cases only.
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Lock Down and Curfew
In a move to combat the spread of the pandemic disease, President Muhammadu Buhari directed the cessation of all movements in Lagos and the FCT for an initial period of 14 days, which took effect from 11 pm on Monday, 30th March 2020.
The movement restriction, which was extended by another two-weeks period, has been partially put on hold with some businesses commencing operations from May 4. On April 27th, 2020, Nigeria’s President, Muhammadu Buhari declared an overnight curfew from 8 pm to 6 am across the country, as part of new measures to contain the spread of the COVID-19. This comes along with the phased and gradual easing of lockdown measures in FCT, Lagos, and Ogun States, which took effect from Saturday, 2nd May 2020, at 9 am.
On Monday, 29th June 2020 the federal government extended the second phase of the eased lockdown by 4 weeks and approved interstate movement outside curfew hours with effect from July 1, 2020. Also, on Monday 27th July 2020, the federal government extended the second phase of eased lockdown by an additional one week.
On Thursday, 6th August 2020 the federal government through the secretary to the Government of the Federation (SGF) and Chairman of the Presidential Task Force (PTF) on COVID-19 announced the extension of the second phase of eased lockdown by another four (4) weeks.
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COVID-19 Update in Nigeria
COVID-19 Update in Nigeria
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