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     Commission promises gazetting PIA provisions, says Komolafe
    By Emmanuella Anokam

    The Nigerian Upstream Petroleum Regulations Commission (NUPRC) says it will ensure that regulations and key policies necessitated by the Petroleum Industry Act (PIA) 2021 are developed and gazetted.

    The commission said this would enable the industry operators to align their operations with the PIA 2021 provisions as quickly as possible.

    Mr Gbenga Komolafe, Commission Chief Executive, NUPRC, said this on Monday in Abuja at the opening of second phase of its consultation with stakeholders on regulations development as mandated by Section 216 of the PIA.

    The News Agency of Nigeria (NAN) reports that the seven draft regulations to be considered include Acreage Management (Drilling and Production) Regulations and Upstream Petroleum Environmental Regulations.

    Others are Upstream Petroleum Environmental Remediation Fund Regulations; Upstream Petroleum Safety Regulations; Unitisation Regulations; Upstream Petroleum Decommissioning and Abandonment Regulations and Frontier Exploration Fund Regulations.

    Komolafe, represented by Capt. John Tomla, Executive Commissioner, Health, Safety, Environment and Community, NUPRC, said that the consultation was in furtherance of the initial regulations reviewed in April.

    He recalled that six draft regulations were presented for discussion in April during the first phase of its consultations with stakeholders which included Nigeria Upstream Petroleum Host Communities Development Regulations and Royalty Regulations.

    Other regulations reviewed were Domestic Gas Delivery Obligation Regulations; Nigeria Conversion and Renewal (Licence and Lease) Regulations; Petroleum Licensing Round Regulations and Upstream Petroleum Fees and Rents Regulations.

    He said that stakeholders inputs from the engagement were incorporated where necessary, in the draft regulations which were forwarded to the Attorney General of the Federation and Minister of Justice for vetting, legislative standardisation and approval.

    According to him, one of the regulations, the Nigeria Upstream Petroleum Host Community Development Trust regulations, has been gazetted while the remaining five have been finalised and ready for gazette.

    Our commitment to create an enabling environment for growth and investments in the Upstream Oil and Gas industry in Nigeria has steered our focus towards working with all stakeholders, he said.

    He reiterated that the process of formulating the above regulations had been rigorous because they were products of critical evaluation and hard work by the commissions regulation development team and the Presidential Implementation Committee on PIA.

    He called for robust and intellectual discussion on the regulations to come out with robust regulations with best international best standard.

    Dr Joseph Tolorunse, Commission Head of Compliance and Enforcement, said that the forum served as an avenue to listen to stakeholders views on the regulations and secure their buy-in which would determine PIAs implementation.

    Tolorunse said for theory and practice of administrative rule making had poignantly shown that if regulation entities were part of regulations making, compliance would be achieved by more than 100 per cent.

    With this procedure of rulemaking, it is believed that consensus will be built, trust between the regulator and the regulated entities will improve and ultimately the regulations will be easier to implement and sustained.

    The three-day forum has in attendance officials from the oil and gas operators, World Bank, Indigenous and International Oil Companies and other stakeholders in the industry.(NAN)(www.nannews.ng)

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    Edited by Kayode Olaitan

    Source: NAN News

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     Minimum Wage: FG to adjust workers salaries to current realities  Ngige
    By Joan Nwagwu

    The Federal Government says it will adjust workers salaries to meet the current realities in the economy of the country.

    Sen. Chris Ngige, the Minister of Labour and Employment said this at the public presentation of the NLC of 40 publication titled, Contemporary History of Working Class Struggles on Monday in Abuja.

    Ngige said that the Federal Government was very much aware that the N30,000 National Minimum Wage had depreciated.

    Yes the inflation has increased worldwide and it is not confined to Nigeria, that is why in many jurisdiction, it is an adjustment of wages right now.

    We as the Nigerian government, we shall adjust in confirmative with what is happening in wages.

    More importantly, the 2019 National Minimum Wage Act, right now has a clause for the review, which we started then, I do not know whether it is due next year or 2024.

    But before then, the adjustment of wages will reflect what is happening in the economy,just as government has started the adjustment with the Academic Staff Union of Universities (ASUU), he said.

    The minister also explained that the Federal Government did not take ASUU to court over the prolonged strike of the union as some people claimed.

    Ngige said he would have failed in his duties if he did not refer the matter to the National Industrial Court of Nigeria (NICN) after seven months of protracted discussions and negotiations with the union, which failed.

    He recalled that ASUU was at the stage of Collective Bargaining(CBA) negotiation with their employers, the Federal Ministry of Education when they embarked on strike.

    He regretted that the ASUU leadership did not even understand the import of CBA negotiation because they lacked the nutrients of labour unionism.

    According to him, we have to counsel our brothers on negotiation. No negotiation is forced. You cannot say it is either you give me 200 per cent or I will continue my strike.

    There are laws guiding strike. There are ILO principles on right to strike. Nobody can take it away.

    But, there are things that follow it when you embark on strike as a worker and they are enshrined in the laws of our land.

    It is written in Trade Dispute Act. The ILO principles of strike talks about the right of a worker to withdraw services. There is also right to picket. These are things that are done.

    Nigeria is respected in ILO. Some people said Federal Government took ASUU to court. No. I referred the matter after seven months of protracted discussions and negotiations that failed, he said.

    Ngige recalled that he conciliated the dispute twice, first on Feb. 22, one week after the commencement of the strike and some agreements were reached, and he brought everybody back on March 1 for another conciliation.

    He added that the only thing left was going back to the Federal Ministry of Education for the renegotiation of the 2013 agreement.

    Some people are saying 2009 agreement. The 2009 agreement has been renegotiated in 2013/2014 with the administration of former President Goodluck Jonathan. It is an anathema to use 2009 agreement.

    What is left is the renegotiation of their conditions of service, which is their right. It should be done but they are negotiating it under the principle of offer and acceptance and it broke down irretrievably there at the Federal Ministry of Education.

    That kick-started Section 17 of the Trade Dispute Act whereby the Minister of Labour and Employment, whoever it is, if you dont transmit according to the dictates of Section 17, TDA, 2004, Laws of the Federation of Nigeria.

    This means you would have failed in your function. Therefore, I had to transmit, he said.

    Ngige, however, said the transmission did not mean that the matter could not be settled out of court.

    He said either of the parties involved; the Federal Ministry of Education and ASUU could approach the NICN for out of court settlement.

    He maintained that Nigeria must be guided by laws and nobody should use the dispute to harass anybody.

    The pro-chancellors said they want to do counter offer. I told them to do it as quickly as possible. Those are ingredients of labour relations.

    It is not enough if you misinform your membership. That should be a disservice. We should read through things as it is and interpret same way. If I leave them in education, they will stay there two years,Ngige said.

    On the 40 years of NLC, Ngige said: A fool at 40 is a fool forever. A wiseman at 40 is a wise man forever. NLC is a wise man forever. (NAN)(www.nanews.ng)

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    Edited by Grace Yussuf

    Source: NAN News

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     Tax collection: Group wants Geographic Information System adopted
    By Tosin Kolade

    A Development Training Institute, Coinmac International, on Monday advised the Nigerian Government to adopt Geographic Information System (GIS) to improve tax collection in the country.

    Coinmac Managing Director, Mr Ayo Salam spoke at the opening of a training workshop on Tax Policy, Fiscal Analysis and Revenue Forecasting for FCT Internal Revenue Service (FCT-IRS) in Abuja.

    Salam said there was the need for all business owners, informal sectors, service providers and organisations to be forced to pay tax, saying an effective tax administration is knowing who the taxpayers are, where they are located.

    He said that every citizen must be subjected to the law to pay tax from their income.

    According to him, there is the need for all tiers of government to diversify its revenue base by seeking alternative means of revenue generation as the dwindling oil revenue is worrisome.

    Government needs to practically shift attention from oil to development of other revenue sources, especially non-oil exports to support Internally Generated Revenue from taxes.

    The reliability of the institutional framework for tax processing and enforcement must not be questionable to ensure sustainable development through taxation.

    GIS can provide an efficient and improved system to not only increase revenue collection, but to monitor the prices and identify defaulters.

    Salam said that most revenue service organisations had adopted GIS in implementation of their duties, adding that an efficient GIS could store accurate information on tax payable and monitored virtually.

    He said FCT was a reference point for tax administration in Nigeria as tax collection stood at N188 billion, surpassing projected revenue target of N109 billion in 2021.

    He said implementing blockchain technology for tax compliance would be an opportunity for taxes to be collected on goods and services consumed on different electronic platforms.

    Training Facilitator, Mr Muhammad Sabiu, said the FCT-IRS had made huge strides in tax system with enrollment of more than 1.2 million people into its revenue collection system.

    He said that had led to the collection of the highest revenue since inception, saying there was a Withholding Tax of N26 billion in 2021.

    Sabiu said Nigerias continued reliance on oil was not sustainable as the global market dwindled, calling for more Nigerians to pay taxes for economic growth and development.

    Nigerians keep complaining about poor infrastructural development and others, we can do more by funding all we want ourselves when we pay taxes.

    Nigerians should pay taxes if they do not want government to borrow, in the UK, you pay 40 per cent on inheritance tax, and so many other things.

    Lecturers are calling for more funding for the institutions, if we have a good tax system, all these things can be sorted out. (NAN) (www.nannews.ng)

    Edited by Ese E. Eniola Williams

    Source: NAN News

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     Expert wants parents to monitor their daughters
    By Ahmed Ubandoma

    Three-days after the alleged gruesome murder of a 22-year-old Kano lady Ummukulsum Buhari by her Chinese lover, a public affairs analyst Mr Abdul-Aziz Yusuf, urges parents to always monitor their daughters dealings with male.

    Yusuf gave the advice in an interview with the News Agency of Nigeria (NAN), on Monday in Abuja.

    He also emphasised the need to caution parents, especially mothers to guide their daughters properly in their quest to choose their future husbands without recourse to the material things.

    Parents, especially mothers should put extra efforts in seeing that their female children dont fall into relationships that are capable of harming them and they should lead by example.

    Its worrisome that many of the bad habits some children learn come from their parents because they usually follow our footsteps.

    Ladies should learn to report cases of harassments, as it can harm them in the process of the relationship, Its sad that Ummukulsum is dead.

    Her death should serve as a lessons to our other ladies who are in such kind of relationships, he said.

    The analyst also enjoined parents to take close-watch on the interactions of their daughters with their male friends to be in the know and put them on the right path.

    NAN reports that, the deceased was allegedly stabbed to death on Sept. 16, by her Chinese lover, Geng Quanrong, 47 years, at Janbulo quarters, Kumbotso Local Government Area of Kano after a series of misunderstanding (NAN)(www.nannews.ng).

    Edited by Grace Yussuf

    Source: NAN News

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     Sports: Minister seeks review of PHE curriculum
    By Mustapha Yauri

    Mr Sunday Dare, the Minister of Sports, Youth and Social Development, has urged tertiary institutions to review and update the curriculum for the training of physical health educators towards harnessing the entrepreneurial opportunities in sports.

    The minister made the appeal during the 50th National Conference of National Association for Physical, Health Education, Recreation, Sports and Dance (NAPHER-SD) in Zaria.

    The conference was titled: Business potentials and tapping in the profession of physical, health education recreation, sports and dance.

    The minister said the draft National Sports Industry Policy developed by the ministry in collaboration with Nigeria Economic Summit Group has re-classified sports from recreation to business.

    Dare, represented by Prof. Olawale Moronkola, Director-General, National Institute for Sports, said the intent of the policy was to turn sport into a vehicle for empowerment, development and growth through sports industrialisation agenda.

    He, therefore, described sports as a big-time business with many entrepreneurial opportunities to explore in the areas of selling and marketing of (products, rights and services) and running gym/fitness centres.

    Other areas include sports media, sports equipment manufacturing, sport clubs and consultancy services, among others.

    The minister, who restated the commitment of the government to provide an enabling environment, urged tertiary institutions to tailor their curriculum in line with new trends in the sector.

    Earlier, Prof. Rafiu Okuneye, the President NAPHER-SD, said the theme of the conference was a wake-up call; the association believed in and keyed into.

    Through this forum, the association would enhance the propagation further that sports is business, recreation is business and dance is business. The time to identify and explore all business potentials in our profession is now, he said.

    The Vice-Chancellor, Ahmadu Bello University (ABU), Zaria, Prof. Kabiru Bala said physical education was one of the disciplines with numerous job opportunities such as teaching, sports coaching, sports management and exercise science, among others.

    Bala, represented by the Deputy Vice-Chancellor Academics, Prof. Danladi Ameh, said there was a need for a transparent and credible manner to engage the private sector to collaborate, ensure deliverables to the practitioners in the sector.

    For his part, Alhaji Ibrahim Galadima, Chairman, National Institute for Sports, also urged the association to redouble effort and work closely with state governments toward reviving sports in primary and secondary schools.

    We used to have Physical Education and later physical health education, but this component of education is almost gone in schools.

    Go to our primary and secondary schools you will not see facilities for physical education or physical health education classes.

    I think this association has a role to play in bringing this lost glory back in schools, Galadima said.

    He also tasked the association to have strong and vibrant state chapters with a view to promote sports and education to enable the younger generation come up with sound education and sports together.

    He said the association in collaboration with its key stakeholders need to do more in promoting sports and education towards harnessing the business potentials in sports. (NAN)

    Edited by Muhammad Suleiman Tola

    Source: NAN News

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     19 killed in FCT auto crash
    By Ibironke Ariyo

    Nineteen persons have been confirmed killed while eight others injured in a Sunday auto crash at Yangoji-Gwagwalada Road in the FCT.

    Mr Dauda Biu, Acting Corps Marshal of the Federal Road Safety Corps, confirmed the figures to the News Agency of Nigeria (NAN) when he visited the accident scene.

    Biu said the crash which occurred minutes into Sunday involved three vehicles two Toyota Hiace buses with registration numbers MUB- 30 LG and DWR-985 XJ and an articulated vehicle.

    Biu said 31 persons were involved in the accident comprising 11 males, one female and 19 others who were charred beyond recognition.

    Out of the 31 victims, eight persons comprising of seven males and one female sustained varying degrees of injuries, while 19 others were burnt beyond recognition.

    Investigation showed that the main causes of the crash were speed limit violation and wrongful overtaking which eventually resulted in loss of control, he said.

    According to him, the Toyota Hiace bus with Registration Number MUB- 30 LG, crashed into the Citroen articulated vehicle and burst into flames, killing everyone on board.

    The second bus hit the first bus from behind and also caught fire. Fire melted the second bus with Bauchi State number plate.

    It was coming from Takai, Kano State while heading to Benin. The Citroen vehicle loaded chicken feeds from Zaria in Kaduna State and was heading to Akwa Ibom.

    The nineteen corpses were trapped but extricated by rescue operatives, Biu said.

    He added that police had taken over the investigation and met with relevant authorities for the mass burial of 18 of the mutilated corpses.

    The bodies could not be preserved for identification as they were burnt beyond recognition.

    Clearing of obstructions for free flow of traffic is still ongoing as you can see and we will do our best to ensure we have a crash-free society.

    Injured victims were taken to a nearby hospital in Kwali in the FCT and one identified male corpse was deposited at the mortuary at Kwali General Hospital, he said.

    Biu cautioned road users to always avoid excessive speeding, wrongful overtaking and other bad driving behaviours.

    He also admonished commuters to always plan their trips to fall within day time and avoid night trips because of hazards associated with dark hours.

    He also re-emphasised that the Corps would step up both sensitisation of the motoring public and enhance its patrol activities to deter traffic violators.

    He admonished the public to always call the FRSC toll free line 122 and the National Traffic Radio 107.1 FM which were always available for all road users to report emergencies at any given time.

    The News Agency of Nigeria (NAN) reports that the Acting Corps Marshal was accompanied by the management team and other rescue operatives. (NAN) (www.nannews.ng)

    Edited by Alli Hakeem

    Source: NAN News

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     Yahaya Bello is Tinubu-Shettima campaign Youth Co-ordinator
    The appointment was conveyed in a letter addressed to Bello, signed by the Presidential Candidate of the All Progressives Congress (APC) Asiwaju Bola Tinubu.

    Tinubu, in the letter dated Aug. 8, stressed that Bello who was an aspirant in the partys presidential primaries held in June, deserved the appointment owing to his impressive political achievements and the exemplary leadership he had demonstrated as governor of his state and as a party member.

    The former governor of Lagos state added that he was confident that the Kogi governor would do his best in the new responsibility given him so that the party could run an effective, message-driven campaign, which would lead to victory in the 2023 presidential election.

    Recall that multitudes of youths and women across the six geo-political zones of Nigeria, had, during the build-up to the APC presidential primary election, demonstrated their strong support for the Kogi governor, owing to his youth- and women-friendly policies.

    Party members and analysts described the appointment as a big boost for the campaign, considering the important place of youths in the 2023 elections and the impressive youth-targeted campaigns Bello conducted before the primary election.

    The letter, titled, Appointment as National Youth Coordinator for Tinubu/Shettima Presidential Campaign Council, read in part: By way of this letter, we are pleased to formally convey your appointment as National Youth Coordinator of the Tinubu/Shettima Presidential Campaign Council.

    This appointment is fitting and appropriate, given your impressive political achievements and the exemplary leadership you have demonstrated as governor of your state and as a party member.

    We are grateful that you have joined our campaign team. We know you will do your utmost in this new responsibility so we conduct an effective, message -driven campaign leading us to victory in the 2023 presidential election.

    Together, not only can we ensure victory for our party in the February 2023 election but we shall also move Nigeria along the path of national greatness, Tinubu said.

    This, he added, would be achieved by building on the achievements of the President Muhammadu Buhari -APC administration in providing progressive good governance to Nigerians.

    He congratulated Bello and wished him Gods speed and guidance.

    Congratulations. Please, accept the assurances of our highest respect and regards always, Tinubu added.

    In his acceptance letter, Bello pledged to deploy all in his capacity, working alongside the presidential candidate, to ensure victory for the APC in the 2023 general elections.

    Tinubu is one great Nigerian , who not only exemplifies but abundantly demonstrates through transformational leadership and good governance, my own aspirations for a Nigeria that is secure, united and prosperous, he stated.(NAN)

    Source: NAN News

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     10 IDPs in Edo camp graduates from tertiary institutions

    By Deborah Coker
    No fewer than 10 Internally Displaced Persons (IDPs) at the IDP camp in Uhogua, near Benin, have graduated from various tertiary institutions across the country.

    The Coordinator of the camp, Pastor Solomon Folorunsho, disclosed this on Sunday, in an interview with the News Agency of Nigeria (NAN) in Abuja.

    Folorunsho explained that the figure represents eight of the IDPs who have completed their courses of studies and graduated earlier and two who recently graduated from the Edo University, Uzairue.

    According to him, so far 10 of our IDPs have graduated from various tertiary institutions since the inception of the camp about nine years ago.

    Giving a breakdown of the figure, he said two of the graduands graduated with a B.Sc in Nursing/Midwifery from the Ahmadu Bello University, Zaria and the Edo University, Uzairue, respectively.

    He added that one other graduated with a B.Sc in Pharmacy, from Ahmadu Bello University, Zaria, and another with an M.Sc in Anatomy from the same institution.

    We also have one who graduated with a B.Sc in Microbiology from the University of Maiduguri, another one with a B.Sc Agricultural Science from the same institution and yet another with a B.Sc Health Education from the same school.

    Then we have one graduate each with Higher National Diploma (HND) in Accounting from the Federal Polytechnic, Bauchi, HND, Mass Communication, Federal Polytechnic, Mubi, Adamawa state and B.A, History and International Studies, Edo University, Uzairue.

    He disclosed that presently there were about 158 of the IDPs in various institutions of higher learning across the country, with about 53 of them from the North East.

    He however added that of the total number of the IDPs in tertiary institutions, 10were in their final year.

    The Coordinator also disclosed that no fewer than 200 of the IDPs would have gained admission for the next academic session if not for the ongoing strike by the Academic Staff Union of Universities (ASUU).

    He added that in spite of the daunting challenge in footing the education bills of the IDPs, the management of the camp was resolute in ensuring that the dreams of the IDPs with regards to education was not aborted.

    I can assure you that in few years from now we will have several medical doctors, engineers and accountants, from this camp.

    We are not talking about 30 or 40, but several. That is why in spite of the challenges of footing their educational bills, we are trying our best.

    And we are appealing to the elite and wealthy Nigerians out there to assist us to better the lives of these ones, Folorunsho said.

    Meanwhile some of the graduated IDPs who spoke with NAN via telephone said their motivation to pursue their educational dream was because of their love for education.

    Yahaya Gulla told NAN he graduated with a second class upper division in Nursing/Midwifery from the Ahmadu Bello University Zaria.

    Gulla said he newly got admission to the university when the crisis of Boko Haram insurgency started, and he was displaced as his family members were killed.

    But today Im a graduate, all thanks to the management of the IDP camp in Uhogua, Edo.

    However, I was motivated to study the course I studied, because when I was fleeing to Edo, I saw how people were injured and were bleeding during the insurgency attacks.

    Many would have survived if there were to be any medical attention, but because there were not, many died, he said.

    Similarly, Christiana Jame, a graduate of the University of Maiduguri from the department of Health Education, said her motivation in continuing her education in spite of the challenges of insecurity was her love for education.

    She also said that encouragement and support from the management of the IDP camp in Uhogua, helped her achieved her dream in education. (NAN) (www.nannews.ng)
    DCO/ISMA

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    Edited by Ismail Abdulaziz

    Source: NAN News

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     Wadada tasks Keffi indigenes, residents on economic development
    By Salisu Sani-Idris

    A former member of the House of Representatives, Alhaji Ahmed Wadada, has called on the indigenes and residents of Keffi Local Government in Nasarawa State to contribute towards improving the economic development of the area.

    Wadada, who holds the traditional title of Sarkin Yakin Keffi, made the call at the commissioning of Keffi Emirate Council Investment Committees Groundnut Milling Machine, on Sunday in Keffi.

    The News Agency of Nigeria (NAN) reports that the event also featured the inauguration of Keffi Emirate Council Investment Committees Cooperative Groups.

    The former lawmaker said that it was the responsibility of every resident of Keffi to strive to give back to the society in order to enhance the living condition of the less privileged and vulnerable groups in the area.

    I will want to leverage on this medium to call on each and every indigene and residents of Keffi Local Government Area to look much more inwards to see what he or she is in a position to do to better the livelihood of people of the area.

    Because a people without economic strength or advantage are inactive people. Of course, Keffi even before now had not been a left back community in every facet of human endeavour.

    But this is to rejuvenate the old spirit of Keffi and I pray Allah continue to guide, bless and protect all our efforts, he said.

    Wadada, who is the Senatorial Candidate of Social Democratic Party (SDP) for Nasarawa West Senatorial District, described the inauguration of the Groundnut Milling Machine as an occasion of fulfilment, joy, gratitude, pride and challenge.

    For Keffi Emirate Council Investment Committee to achieve this under its Sub-Committee on Women Empowerment is quite fulfilling, encouraging, gratifying and challenging.

    Challenging so that we all do more than what we have just done so that the mileage will be longer or higher than what it is now, Wadada said.

    Earlier, Mrs Ramatu Sani, the Chairperson, Sub-Committee on Weaving and Groundnut Oil Processing, said the inauguration of the Groundnut Milling Machine was a result of communal efforts by the sons and daughters of Keffi.

    Sani revealed that the subcommittee spent over N3.5 million to procure the groundnut oil extracting machine, adding that the committee intended to provide additional two machines for two different locations on Keffi.

    She also discloed that so far the subcommittee had trained over 90 indigent women on different skills aimed at empowering them to be self-reliant in the society.

    The Emir of Keffi, Dr Shehu Muhammadu Chindo Yamusa III, constituted the committee to see to the revival of the old lost trade and economic activities of this town and to the glory of God, all of us the indigenes of Keffi contributed money to put this together.

    We plan to reach out to more people to sell this product and I am sure it will go a long way in eradicating poverty among women who are the target beneficiaries.

    We feel strongly that if women are empowered, the society will be better for it and they will be able to look after their children and even help their husbands. (NAN)(www.nannews.ng)

    Edited by Grace Yussuf

    Source: NAN News

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     Creative industry can boost Nigerias export earnings  Expert
    By Lydia Ngwakwe

    Mr Muyiwa Akinyemi, the Deputy Managing Director, United Bank for Africa Plc, has advised the Federal Government to take advantage of the opportunities in the creative industry for sustainable export earnings.

    Akinyemi gave the advice at the annual conference of the Finance Correspondents Association of Nigeria (FICAN) with the theme: Boosting Domestic Capacity for Sustainable Export Earnings, in Lagos.

    He said that the countrys creative industry was the second biggest growing industry in the world spurred by the emerging digital trends in technology.

    Historically, some of us grew up in Nigeria with the groundnut pyramids in Kano, cocoa house in Ibadan and a few other places like that, but over time, when we discovered the black gold, we abandoned those our primary commodities.

    And what I see happening now is that we are moving to the third revolution of exports, japa syndrome. So, that is knowledge export that is happening right now and not only is it happening in that space, you also have a technology revolution as well.

    Innovation Hub in Yaba portends a large pool of intelligent guys building things in the Fintech and technology world that is not even recognised; but its a huge potential full of export business. We are in that technology space wherein Nigeria needs to take advantage of it, he said.

    Akinyemi noted that 200 exporters were responsible for 95 per cent of the .2 billion the country earned from non-oil export in 2021.

    The .2 billion achieved in 2021 did not include informal exports largely in the wholesale trading in some sectors such as information technology, entertainment and solid minerals, he said.

    Akinyemi urged the government to also talk about the creative industry the same way it was speaking about export, commodities and crude oil.

    He said, most countries you go to in Africa today or globally, when you talk about Nollywood, its second biggest industry. Music- Wizkid, D banj, Burna boy, all huge export earnings that we have not taken advantage of.

    The knowledge and the creative skills is the third wave of export business we are seeing in Nigeria today. How are we supporting those young stars?

    It is not just to talk about them on Facebook or Instagram, its about how do we harness those capacity and build it to an industry that will generate massive earnings for us.

    Akinyemi commended NEXIM, NEPC for what they were doing as well as incentives given by the Central Bank of Nigeria and rebate scheme launched to boost export earnings.

    He, however, said that should be done from the fiscal perspective for economic growth and development.(NAN)(www.nannews.ng)

    Edited by Chinyere Joel-Nwokeoma

    Source: NAN News

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