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Gov’t inability to create enabling environment among others, reason Nigeria not harnessing opportunities in e-commerce value chain – Adebayo

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2 years ago

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Nigeria is yet to fully harness the inherent opportunities in the e-commerce value chain, due to lack of adequate investment, information on opportunities in the sector and government’s inability to provide the required enabling environment, according to Otumba Niyi Adebayo, Minister of Industry, Trade and Investment.

Adebayo stated this over the weekend in Abuja at a stakeholder dialogue on e-commerce and digital trade policy for Nigeria.

The minister noted that there is no better time than now to diversify the economy away from the oil sector by building a dynamic, profitable and efficient non-oil sector to reposition the economy on a sustainable growth path

The minister who was represented by the Director, Commodities and Export Department, of the ministry, Mr. Suleman Audu said Nigeria is actively participating in the on-going negotiation at the World Trade Organization (WTO), in order to boost e-commerce.

He Said: “Nigeria is yet to fully harness the inherent opportunities in the e-commerce value chain, largely due to inadequate investment, coupled with inadequate information on the opportunities in the sector and the inability of Government to provide the required enabling environment.

“As such, government have identified e-commerce as a major priority programme that will play a critical role in the promotion of commodity trade, especially with the realities of the unprecedented Covid-19 global pandemic.

“The Federal Government is also committed to developing an e-commerce strategy in line with the Federal Government’s Post COVID-19 recovery plan, to encourage investment in e-commerce value chain.”

He added that the Ministry is passionate about the growing investment opportunities in the e-commerce value chain which are capable of contributing significantly to the country’s GDP.

“Recently, the sector has grown from 14% in 2019 to 17% in 2020.

“The current e-commerce spending in Nigeria is estimated at about $13 billion per annum, and is projected to rise to about $75 billion in revenues per annum by 2025.

The market outlook for Nigeria’s e-commerce shows that the number of online shoppers in the country, which was at 76.7 million in 2021, is expected to hit 122.5 million by 2025.

“The figures from the Nigeria Inter-Bank Settlement System (NIBSS), also shows that Nigeria’s e-payment transactions increased by 85.5 per cent year-on-year to N171.99 trillion in August 2021,” he further stated.

Adebayo added that the Federal Government will continue to strengthen collaboration with the State Governments and continue to build synergy amongst relevant Ministries, Departments and Agencies through harmonization and coordination of e-commerce activities under the National Advisory Committee on Electronic Commerce and Digital economy (NACEDE) platform.

He said the stakeholders are expected to brainstorm and come up with appropriate recommendations and ways forward for the development of e-commerce and digital trade policy in Nigeria which will stimulate trade across borders.

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Breaking

Court Sacks APC Governorship Candidate In Bayelsa

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1 year ago

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October 10, 2023

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Timipre Sylva
Timipre Sylva
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The Federal High Court, Abuja, has disqualified the All Progressives Congress (APC) Governorship candidate, Chief Timipre Sylva, from contesting the November 11 Guber election in Bayelsa state.

The suit number FHC/ABJ/CS/821/2023 was filed on June 13, 2023, by Deme Kolomo, a member of the APC.

Justice Donatus Okorowo ruled that Sylva, having been sworn in twice and ruled for five years as governor of the state, would breach the 1999 constitution as amended if allowed to contest again.

The judge also declared that Sylva was not qualified to run in the November poll because if he wins and is sworn in, he would spend more than eight years in office as governor

Citing the case of Marwa vs Nyako at the Supreme Court, Okorowo noted that the drafters of the country’s constitution stated that nobody should be voted for as governor more than two times and that the parties to the suit agreed that Sylva was voted into office two times.

He further stated that the Supreme Court ruled in the case of Marwa vs Nyako that nobody can expand the constitution or its scope, stressing that if Sylva was allowed to contest the next election, a person could compete as many times as he wanted.

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Senate stops El-Rufai, 2 Others Confirms Wike, Keyamo, Oyetola, Others As Ministers 

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1 year ago

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August 7, 2023

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Cross Section of Ministerial Designates
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The Senate has put the confirmation of former Governor of Kaduna State, Nasir El-Rufai on hold and confirmed 45 ministerial nominees presented to it for screening and confirmation by President Bola Tinubu.

Two others affected are Stella Okotete (Delta State), and Abubakar Danladi (Taraba State). The Senate said the trio were still undergoing security clearance.

The Senate had spent a week in screening all the ministerial nominees presented to it by the president.

Those confirmed are:

Abubakar Kyari (Borno)

Abubakar Momoh (Edo)

Nyesom Wike – Rivers

Engr Joseph Utserv (Benue)

Senator John Owan Enoh (Cross River)

Hon Bello Mohammad (Sokoto)

Mohammed Badaru Abubakar (Jigawa)

Amb. Yusuf Maitama Tuggar (Bauchi)

Uju Kennedy Ohaneye (Anambra)

Hon. Olubunmi Tunji-Ojo (Ondo)

Nkieruka Onyejeocha (Abia)

Dr Betta Edu (Cross River State)

imaan Sulieman Ibrahim (Nasarawa)

David Umahi (Ebonyi)

Adebayo Olawale Edun (Ogun)

Arch. Ahmed Musa Dangiwa (Katsina)

Chief Uche Geoffrey Nnaji (Enugu)

Mr Dele Alake (Ekiti)

Waheed Adebayo Adelabu (Oyo)

Mohammed Idris (Niger)

Prof Ali Pate (Bauchi)

Dr Doris Anite Uzoka (Imo)

Lateef Fabemi SAN (Kwara)

Rt Hon Ekperikpe Ekpo (Akwa Ibom)

Hannatu Musawa (Katsina)

Ibrahim Geidam (Yobe)

Aliyu Sabi Abdullahi (Niger)

Hieneken Lokpobiri (Bayelsa)

Alkali Ahmed Saidu (Gombe)

Dr Tanko Sununu (Kebbi)

Atiku Bagudu (Kebbi)

Bello Matawalle (Zamfara)

Adegboyega Oyetola (Osun)

Simon Bako Lalong (Plateau)

Abdullahi Tijani Muhammad Gwarzo (Kano)

Bosun Tijani (Ogun)

Dr Mariya Mahmoud Bunkure (Kano)

Dr Iziaq Salako (Ogun)

Dr Tunji Alausa (Lagos)

Lola Ade-John (Lagos)

Prof Tahir Mamman SAN (Adamawa)

Zephaniah Jisalo (FCT)

Uba Maigari Ahmadu (Taraba)

Prince Shuaibu Abubakar Audu (Kogi)

Festus Keyamo SAN (Delta)

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Africa News

INFLATION: Strike Action Imminent in Nigeria Office of ICRC Over Poor Staff Remuneration.

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1 year ago

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August 2, 2023

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There are indications that workers of International Committee of Red Cross (ICRC) will down tools for the first time since coming to Nigeria over the recent increase in the price of Premium Motor Spirit (PMS) which has brought inflation and economic hardship to medium income earners in Nigeria and neighboring countries. The Authority Newspapers Reports.

This is as Nigeria’s current cost of living is on the increase and the failure of the management of ICRC Nigeria to address the situation.

Findings showed that the trouble started earlier this year, when the organization announced a global funding gap that led to the downsizing of its operations.

Investigation revealed that the situation resulted in a significant reduction of staff and the scaling back of ICRC’s operations.

In March, the Nigeria management made a controversial decision to suddenly remove the Cost of Living Allowance, intended to help the staff cope with the country’s soaring inflation.

“Shockingly, the allowance was canceled for Nigerian staff but was retained for expatriate employees” a source in the intervention agency hinted.

The source who does not want her name mentioned said the situation ignited outraged by the Nigerian staff, which voiced their concerns, eventually leading to the restoration of the allowance. But the divide between expatriate and Nigerian salaries remained a significant point of contention.

According to the source, “Recently, following the unification of the exchange rate and removal of fuel subsidies, Nigerian staff raised a compelling argument. They pointed out that the value of their salaries’ had eroded significantly (up to -76%), while expatriate counterparts enjoyed a substantial increase (+76%) when converted to the local currency.

“To break this down further, the ICRC mission in Nigeria receives the funds for its operations in CHF (Swiss Francs). Expat staff in Nigeria are paid in CHF but the Nigerian staff are paid in NGN. CHF used to convert to Naira at 1CHF to 509NGN as of June 1, 2023. As of Tuesday 25 July 2023, 1CHF exchanged for 913NGN.

“What this means for ICRC’s expatriate staff in Nigeria who get their salaries in CHF is that the value of their salaries in NGN has almost doubled.

“The value of the salaries of the Nigerian staff has been halved because their salaries are pegged at the numerical value of the NGN, independent of the exchange rate. This also means that as of today, when the salaries for Nigerian staff are converted to Naira, the ICRC is making a significant savings on their salaries.

“How are staff of a global humanitarian organisation expected to selflessly carry out their duties if they can barely pay their bills?”

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