NEWS
CBN Urges Manufacturers to Drive Forex Diversification
The Central Bank of Nigeria (CBN) Governor, Dr. Olayemi Cardoso, has urged manufacturers to lead efforts in diversifying Nigeria’s foreign exchange earnings from crude oil dependence.
Cardoso made the call at the 54th Annual General Meeting (AGM) of the Manufacturers Association of Nigeria (MAN), Apapa Branch.
The event had the theme: ‘Complementing the Oil Sector, a Major Forex Earner: Strategy for Manufacturing to Fill the Gap.
’Cardoso was represented by Aliyu Ashiru, Director, Trade and Exchange Department.
He said Nigeria’s economy had long been dominated by crude oil exports, which accounted for more than 80 per cent of foreign exchange inflows.
This dependence, he noted, made the economy highly vulnerable to external shocks.
He stressed that manufacturing held significant potential to conserve forex, expand exports with value-added products, create jobs at all levels, and enhance macroeconomic stability.
The apex bank governor said a deliberate, coordinated, long-term strategy was required to unlock the sector’s full potential and transform it into a major forex earner.
He listed strategic pillars for growth, including policy alignment, investment in infrastructure and energy, access to finance and forex, value addition, and backward integration.
He emphasised the need for a comprehensive industrial policy prioritising export-oriented manufacturing.
“This policy must be stable, predictable and aligned with trade, monetary and fiscal frameworks.
“Incentives such as tax holidays, duty waivers for machinery, export rebates and investment guarantees should target manufacturers producing for export markets.
“Nigeria must move from exporting raw materials to value-added products.
“This requires deliberate investment in backward integration, especially in agro-processing, petrochemicals and solid minerals,” he said.
Cardoso assured that the CBN would continue supporting the sector through proactive monetary policies and targeted financing interventions.
In his remarks, President of MAN, Otunba Francis Meshioye, said global oil price volatility underscored the urgency of diversifying Nigeria’s foreign exchange sources.
He identified priority areas including better infrastructure, lower production costs, affordable finance and the promotion of high-export-potential products.
Meshioye also urged government intervention in industrial clusters, particularly within Amuwo-Odofin and Apapa areas of Lagos State.
“We urge the government to address road networks in Amuwo-Odofin and Kirikiri industrial layouts, where many companies operate.
“Firms are willing to support rehabilitation in exchange for tax breaks.
“Improved industrial roads will reduce vehicle wear, enhance logistics and boost competitiveness,” he said.
Meshioye further called for harmonisation of taxes and levies, particularly at local government level, to reduce exploitation and improve compliance for manufacturers.
Lagos State Governor, Babajide Sanwo-Olu, reaffirmed support for the sector, describing it as a formidable pillar for inclusive economic growth.
He was represented by Folashade Ambrose-Medebem, Commissioner for Commerce, Cooperatives, Trade and Investment.
Sanwo-Olu said his administration prioritised creating an enabling environment where industries could thrive, expand and compete globally.
“The disruptions and forex crises experienced over the years highlight the importance of reducing import dependence.
“Lagos is championing agro-industrial linkages, connecting farmers to processors and strengthening local supply chains.
“In this digital age, competitiveness is inseparable from innovation.
“Lagos is building an innovation-driven economy where smart manufacturing supports productivity and efficiency,” he said.
Chairman of MAN Apapa Branch, Raphael Danilola, appealed to the government to address operational challenges affecting manufacturers nationwide.
He identified challenges including poor road networks in industrial clusters, inadequate power, rising logistics costs, insecurity, and forex volatility.
Danilola said tackling these problems was essential to improve competitiveness and boost manufacturing’s contribution to forex earnings
NEWS
Stakeholders Seek Better Healthcare Access for Benue Adolescent Girls
By Attah Ede, Makurdi
Adolescent Girls and Young Women (AGYW) in Benue State have been urged to speak out against Gender-Based Violence (GBV) in order to protect their health rights and secure their future aspirations.
The Executive Director of Concerned Women International Development Initiative (CWIDI), Becky Gbihi, made the call during a one-day Pre-Advocacy Consultative Engagement held at Padre Resort, Makurdi.
The engagement, themed “Listening, Learning and Leading for Improved Access to Healthcare and Rights,”was organized by CWIDI in collaboration with GEF and Y+ Global to strengthen the capacity of 25 Adolescent Girls and Young Women in Benue State.
Gbihi noted that many AGYW in the state continue to face violence, discrimination, and exclusion in accessing healthcare services, justice, and participation in government decision-making processes.
She explained that the programme was designed to equip participants with knowledge on healthcare access, legal rights, leadership, and active participation in policies and decisions that affect their lives.
“We want to instill leadership qualities in the participants and equip them with knowledge on health and rights. The essence of this engagement is also to provide a platform for AGYW to share the barriers they face so that CWIDI can effectively advocate on their behalf,” she said.
According to her, the meeting also identified key stakeholders for follow-up advocacy aimed at addressing the challenges raised by participants.
In a presentation titled “Understanding Gender-Based Violence and Survivor-Centred Responses,” the Lead of the Centre for Family Empowerment, Mr. Emmanuel Zia, trained participants on various forms of violence, including physical, sexual, emotional, and economic abuse, as well as child marriage and online violence.
He advised caregivers and support providers to prioritize survivors’ safety, maintain confidentiality, treat victims with dignity, and avoid blame or judgment, stressing that negative attitudes often worsen survivors’ trauma.
“Victims should be provided with emotional security and assured of strict confidentiality. This guarantees their right to privacy and helps build trust,” Zia said.
He further encouraged participants to utilize the knowledge gained from the training to advocate for improved healthcare, education, gender equality, environmental protection, and disability rights by engaging relevant stakeholders.
During group discussions, participants identified inadequate budgetary allocation to the health sector and a shortage of medical personnel at primary healthcare facilities in rural communities as major barriers to quality healthcare access.
They also highlighted malaria, unsafe abortion-related complications, and tuberculosis as pressing health challenges affecting AGYW and called on government and philanthropic organizations to provide urgent interventions.
One of the participants, Miss Doofan Dugba, expressed appreciation to the organizers, saying the training broadened her understanding of GBV response and how to support survivors without stigmatization.
Another participant, Miss Tondo Iveren, said the workshop changed her perception that women should be treated as second-class citizens.
“The knowledge I gained from the workshop has helped me understand that women have rights, and whenever those rights are violated, they should speak up,” she said.
She added that she now knows where to report cases of abuse, how to overcome fear of perpetrators, and pledged to replicate the knowledge gained in schools and communities.
Also speaking, Miss Vera Anjov described the engagement as highly educative but recommended that future editions allocate more time for group discussions to enable participants to identify and proffer solutions to a wider range of challenges affecting AGYW.
NEWS
Nigeria Customs Hosts Diplomatic Reception to Strengthen Global Partnerships, Trade Relations
By Tambaya Julius, Abuja
The Nigeria Customs Service (NCS) on 3 June 2026 hosted a high-level diplomatic cocktail reception in Abuja, bringing together ambassadors, high commissioners, heads of missions, and senior government officials in a strategic engagement aimed at strengthening international cooperation, trade relations, and institutional partnerships.
The event, held at the rooftop of the Nigeria Customs Service Headquarters, Maitama, Abuja, also attracted the Chief of the Air Staff, the Inspector-General of Police, members of the Customs Management, and other senior officials from key security and government institutions.
Welcoming the diplomatic community, the Comptroller-General of Customs, Adewale Adeniyi MFR, expressed appreciation for the sustained support of international partners in strengthening bilateral relations and advancing global trade cooperation with Nigeria.
“We recognize and appreciate your contributions to strengthening diplomatic and trade relations. The Service remains committed to providing the support and services required for diplomatic missions to operate effectively in Nigeria,” he said.
He noted that NCS continues to deepen its global footprint through structured collaboration frameworks with over twenty customs administrations worldwide, focusing on knowledge exchange, capacity development, and operational synergy aimed at improving trade facilitation and border management.
According to him, sustained collaboration among customs administrations, diplomatic missions, and security agencies remains critical to achieving efficient border security, enhanced revenue generation, and improved economic competitiveness in a rapidly evolving global trade environment.
The CGC further emphasised that modern Customs administration now operates within a highly interconnected global system, requiring continuous engagement, trust-building, and shared responsibility among international partners to address emerging challenges in trade, security, and compliance management.
He added that platforms such as the diplomatic reception provide valuable opportunities for dialogue, relationship building, and the exploration of new areas of cooperation that will further strengthen Nigeria’s trade and diplomatic architecture.
The evening concluded with networking sessions and goodwill messages from participants, with senior government officials and diplomatic representatives commending the NCS for its consistent efforts in fostering stronger institutional ties and promoting an enabling environment for international collaboration.
NEWS
Tinubu To Commission Fruit Juice Factories, BIPC Motorcycle Assembly Plant In Benue
From Attah Ede, Makurdi
President Ahmed Bola Tinubu is set to visit Benue State to commission the newly built ultra modern Bensono Concentrate Plant, Benva Juice Factory, and the Motorcycle Assembly Plant in Makurdi, Benue State.
Alia disclosed this while speaking with journalists shortly after inspecting the factories and the plant ahead of the commissioning.
He expressed satisfaction with the level of completion and readiness of the facilities ahead of their official commissioning.
The governor, accompanied by the Speaker of the 10th Benue State House of Assembly, Aondoaver Emberga, described the projects as major milestones in the state’s industrialisation drive and efforts to transform Benue from a predominantly agrarian economy into a hub for agro-processing and manufacturing.
Speaking during the inspection tour, Governor Alia commended the management of the Benue Investment and Property Company (BIPC), particularly its Group Managing Director, Dr. Raymond Asemakaha, CFA, for delivering the projects within record time.
“It is exciting to hear and see that the companies are ready for commissioning. This fourth year is our year of commissioning, and I am hopeful that President Bola Ahmed Tinubu will graciously come and commission these projects for us. Very soon, we shall begin commissioning all the projects embarked upon by this administration,” the governor stated.
Governor Alia noted that the establishment of the Bensono Concentrate Plant and Benva Juice Factory would significantly reduce post-harvest losses, a challenge that has long affected fruit farmers across the state.
According to him, the factories will provide a ready market for locally produced fruits, improve farmers’ incomes, and stimulate economic activities across the agricultural value chain.
“Our farmers have suffered greatly over the years. Almost every family has an orchard farm, but buyers often come from outside the state and dictate prices that do not reflect the true value of the farmers’ hard work. These factories will change that narrative,” he said.
He urged farmers to increase production in anticipation of the factories’ operations, assuring them that the state government was committed to creating sustainable markets for their produce.
“Buyers can still purchase our oranges, but the process will now be more controlled and beneficial to our people. Whether through concentrates or juice production, the value will remain within the state. It is a win-win situation for our farmers and the economy of Benue State,” the governor added.
The governor also inspected 525 motorcycles assembled by the company under a partnership arrangement between the Benue State Government and a Chinese firm. The partnership was initiated during Governor Alia’s investment mission to the People’s Republic of China in 2024.
Earlier, the Group Managing Director of BIPC, Dr. Raymond Asemakaha, explained that the agro-processing factories were established to create value from Benue’s abundant agricultural produce, particularly oranges, mangoes, and tomatoes.
He said the projects were designed to tackle the persistent challenge of post-harvest losses while creating jobs and generating revenue for the state.
“We want to add value to what our farmers produce and drastically reduce the post-harvest losses that have been witnessed in Benue State for decades. Economic growth must be inclusive, and these projects are built around an inclusive model that directly benefits farmers,” Asemakaha said.
The BIPC GMD disclosed that both factories were fully completed and ready to commence production immediately after commissioning.
“Our factories are ready. We are only awaiting the official commissioning. Once that is done, full production will commence. We believe these facilities will change the economic landscape of Benue State,” he stated.
Asemakaha lamented that for many years Benue farmers had produced raw agricultural commodities that were transported out of the state, creating wealth and jobs elsewhere.
“For years, our mothers, fathers, brothers and sisters have laboured to grow produce that others use to build their economies and industries. We are determined to stop that trend by ensuring that value addition takes place here in Benue,” he said.
He further revealed that the orange concentrate to be produced at the Benfruits plant would target both local and international markets.
Citing raw materials council data, Asemakaha noted that Nigeria spent approximately ₦68 billion importing fruit concentrates in 2025 despite having abundant raw materials.
“The Raw Materials Research and Development Council has indicated that Nigeria imported about ₦68 billion worth of concentrates in 2025. We have the oranges here in Benue. There is no reason we should continue importing what we can produce locally. Our goal is to substitute imports and eventually export our concentrates to the international market,” he explained.
He expressed confidence that the factories would position Benue as a leading producer of fruit concentrates and processed beverages in Nigeria while creating employment opportunities for thousands of residents.
The projects form part of Governor Alia’s industrialisation and investment agenda aimed at boosting local production, creating jobs, increasing internally generated revenue, and unlocking the state’s vast agricultural potential.


