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Russia-Ukraine: Manufacturing, Agric to Suffer Shocks in Q2 – LCCI

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The Lagos Chamber of Commerce and Industry (LCCI) says the persisting Russia-Ukraine war will trigger shocks in the manufacturing and agricultural sectors in the second quarter of 2022.

Dr Michael Olawale-Cole, President, LCCI, said this at the LCCI Quarterly press conference on the state of the Nigerian economy on Tuesday in Lagos.

Olawale-Cole said the ongoing war triggered a positive oil price shock with spillover effects on operating costs, raw materials, and inflation in countries not directly engaged in the war.

He noted that Nigeria was not an exception as prices of goods and services were moving northwards with the potential implication of shrinking production of goods and services.

L-R: Vice President, Lagos Chamber of Commerce and Industry (LCCI), Engr. Leye Kupoluyi; Director General, LCCI, Dr. Chinyere Almona; President, LCCI, Dr. Michael Olawale-Cole; Deputy Treasurer, LCCI, Mrs. Tola Gbogboade and Vice President, LCCI, Prince Abimbola Olashore during LCCI 2nd Quarter Press Conference on the state of the Nation at Commerce House on Tuesday in Lagos
 

The LCCI president stressed that should the conditions persist, production volumes would be impacted by the raw materials supply chain disruptions, the rising cost of diesel, and other internal security crises.

“Job losses are also very likely due to constrained production and disrupted supply chains and all of these will likely depress growth potential in Q2 2022.

“Going into the second quarter of 2022, the manufacturing sector will likely suffer some shocks from the rising cost of diesel, logistics, foreign exchange illiquidity, domestic inflationary pressure, weakening purchasing power, poor public infrastructure and port-related challenges.

“These may continue to present as headwinds to the sector’s performance.

“Additionally, with the war in Ukraine aggravating disruptions to supply chains of raw materials like wheat, barley, soybeans, sunflower, and corn, the rising cost of production may not abate soon,” he said.

Looking forward to the second quarter, he said Nigerians should expect headline inflation to remain elevated.

This, he said, would be due to supply chain disruptions caused by the Russia-Ukraine war, food supply shocks, FX policies, higher energy costs, FX illiquidity, heightened insecurity in major food-producing states, which would continue to mount pressure consumer prices.

“We believe a broad-based harmonisation of fiscal and monetary policies toward addressing the identified structural constraints will significantly help moderate inflationary pressure in the short term,” he said.

Olawale-Cole urged government to adopt the most sustainable solution of boosting local production of food staples to levels that met local demands.

In addition, the industrialist tasked government to resolve the lingering fuel supply crises by increasing importation to meet growing demand, which was putting pressure on diesel and fuel prices.

“It has also become imperative now that Nigeria needs to have reserves for these critical commodities to meet sudden crashes in supply.

“We have always advocated the removal of fuel subsidies and that such rescued funds be diverted to subsidise the production of goods and services in the face of the rising cost of manufacturing.

“The Central Bank of Nigeria (CBN) should embark on easing the economy while keeping a tab on controlling rising prices.

“Credit to the private sector should increase and be targeted to support growth sectors and export-promoting sectors.

“Deliberate efforts toward making the business environment more conducive for MSMEs and large corporates at the national, subnational, and local government levels are also very imperative,” he said.

On the energy sector, the LCCI president noted that the national grid was unable to continue to supply sufficient power to meet the country’s electricity demand.

Olawale-Cole recommended that the government should invest more in technology to fight pipeline vandalism and fund critical infrastructure and special purpose intervention in the power sector,” he said. (NAN)

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Immunization fund: Group raise alarm over unreleased N108b for 2024

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By Laide Akinboade, Abuja 

As Nigeria accounts for over 30% of zero dose children worldwide, a group has  urged the Federal Government (FG), to release the N108 billion for 2024.

Chika Offor, Chief Executive Officer (CEO),

Vaccine Network for Disease Control (VNDC), stated this in a press briefing, in Abuja.

She advocated for the full release of the N231.

7 billion allocated for 2025.
 

Among those who were present at the occasion included, Gerald Teleh, Chairman, State Ward Development Committee (WDC), Saratu Abomann, National Council of Women’s Societies (NCWS), Hon. Mohammed Usman, former member House of Representatives,  Chairman Healthcare services and Hajiya Hallmark Saluhu, Federation of Women’s Associations of Nigeria (FOWAN).

She noted it is imperative for the Federal, State and Local Governments, to prioritize immunization fund because this would address mataenal mortality rate in Nigeria.

She added that Immunizing Nigeria’s children  is the most cost-effective public health interventions, preventing diseases, reducing mortality, and contributing to healthier communities and a stronger economy.

According to her, “We are here today because our future depends on it. We are here today to underscore a matter of utmost national and global importance: Prioritizing Immunization Financing for Child Survival, making a case for immunization.

“Immunization remains one of the most cost-effective public health interventions, preventing diseases, reducing mortality, and contributing to healthier communities and a stronger economy.

“We acknowledge, with deep appreciation:

President Bola Ahmed Tinubu, in his unwavering commitment to child health and survival, released all 2022 and 2023 outstanding domestic vaccine financing and also released 25% of the 2024 domestic vaccine financing”.  

She said even though Nigeria government have saved millions of lives through vaccines but more need to be done, “Vaccines have saved millions of lives and remain central to achieving Nigeria’s health and development goals. Nigeria has made concerted efforts to reduce child mortality through vaccination programs carried out in all Primary Healthcare Centers (PHCs) in the country. 

 “Over the past few years, immunization efforts in Nigeria have, Expanded routine immunization coverage,;Introduced new, life-saving vaccines, including the HPV vaccine, Rotavirus vaccine, and malaria vaccine and  Eradicated the wild poliovirus, once a major public health threat”.

She lamented, “These are remarkable achievements. But the journey is far from over. Nigeria still has one of the highest numbers of zero-dose children—those who have never received a single routine vaccine. 

“As stated in the District Health Information Software 2 (DHIS2), Nigeria alone accounts for approximately 30% of zero-dose children worldwide, causing high child mortality rates. Behind each of those numbers is a child at risk of disease, disability, or death.

 “These gaps in coverage threaten to reverse the progress we have made. Behind every statistic is a name, a face, a family, and a future hanging in the balance. This is not just data. This is a national emergency hidden in plain sight.

“Immunization is one of the greatest success stories in public health. It is affordable, accessible, and proven. It saves lives. It safeguards communities. It strengthens economies. Yet, in 2025, the basic right of every child to be protected from vaccine-preventable diseases is still being negotiated in fiscal terms”.

She said, globally, World Health Organization (WHO) and United Nations Children’s Fund (UNICEF), estimate that 3.5 to 5 million deaths are prevented each year, primarily among children under five. Yet, 1.5 million children still die annually from diseases that could have been prevented by vaccines. That is why vaccination is not optional—it is essential to child survival.

She stressed, that delaying 

 funding for immunization programs puts millions of Nigerian children at risk—risk of diphtheria, meningitis, vaccine stockouts, and other preventable crises.

“Without consistent vaccine funding, over 1 million Nigerian children under five remain at risk of dying from diseases we already have the power to prevent.

“Additionally, Immunization saves an estimated ₦6,000–₦11,000 in treatment costs per child—money that poor families simply do not have. For every ₦1 invested in vaccines, ₦16 is returned in health and economic benefits.

“That is not just a smart investment—it is a life-saving one. Yet funding gaps and delays mean vaccines sometimes arrive after outbreaks begin. By then, it is often too late”, she said.

She said, strengthening domestic financing for immunization is essential to reducing dependence on donor funding and achieving sustainable, equitable health outcomes.

She therefore urged the Federal Ministry of Finance, to choose immunization by releasing the outstanding ₦108 billion for 2024 and ensuring the full release of the ₦231.7 billion allocated for 2025.

She said, “In Nigeria, timely immunization is not just a calendar event—it is a lifeline.

Every day vaccines are delayed due to slow, fragmented, or incomplete funding, a child somewhere is left vulnerable—their tiny body wide open to diseases they should have been protected from before their first birthday”.

She urged, the State Governments to adopt and adapt frameworks that ensure routine and emergency immunization funding are embedded in state budgets, released timely and utilized efficiently and Legislators must ensure that policies environment supports the allocation and timely release of immunization funds. Because every naira released late could mean the difference between a child’s first birthday and their final breath.

She therefore urged all stakeholders to  recommit themselves to building a health system that leaves no child behind, and to ensure that immunization remains a top priority on the national health agenda—with sustainable financing at its core.

Meanwhile, the National Assembly (NASS), has called for the local production of vaccine in Nigeria. 

He said it would be an investment for the Federal Government (FG), to invest in production of vaccines in the country.

Accordimg to him, “As you are well aware, investment in vaccine, that’s why I call it an investment, health generally, spending on health is not expenditure, it is actually an investment. For many reasons, communicable, non-communicable diseases that you decided, or any nation that you decided not to prevent, protect people from, would later spend if not a hundred times that amount treating people. And of course, not just the issue of treatment, it may even get to a point whereby when life is lost.

“And if life is lost, there is no amount of money that can be spent to get the life back. And therefore, money spent, and especially the quality of a nation is determined by the quality of her children and the youth, because they are the future of the nation. So also, productivity of the nation is directly proportional to how healthy the citizens are.

“And then as a nation, if we, one of the pointers to our human capital development is to look at the health, and that’s why most times we say health is wealth. And where do we see this health? We look at it, the big man you see today was once a baby. And most of these health challenges start triggering from childhood”.

Narrating a story about his former classmate in the university who is a medical doctor, that had polio as a child 

he was lucky that it affected just one of his limbs. And he could still walk without using crutches or he’s not on wheelchair .

 He said, “But he needs support before he walks. I mean he supports that limb with his hand. But there are several children you see or adult in sometimes in our traffic light.

“I think recently we hardly see them in Abuja, but they are there sometimes in the marketplace. And so you see them in this makeshift scooter that they use to move around. Many of them we check it is polio.

“Now these are those that have survived even the killer diseases. But how many children have died due to preventable illnesses? And that’s why when we come to the issue of vaccines, we are not only speaking loud on vaccines. I mean the administration, the funding for vaccines”.

He noted, “We’re also speaking on domestic production of vaccines. This is what we are shouting on this period. Now with the dwindling funding that we are experiencing all over the world.

“We cannot afford to be using so much money to procure vaccines abroad. If we manufacture vaccines here, it’s also going to build local capacity. It’s going to be cheaper”.

He lamented that it is unacceptable that Nigeria’s maternal mortality is almost about 1,000 per 100,000 births. 

“While you are have countries in the world that are having one. One..

“In fact the next country to Nigeria is about 700. Followed by some 500. So Nigeria is almost doubling the world’s next country to eat on maternal mortality.

“So we cannot sit down like this and see a woman dies because of preventable complications arising from pregnancy or after birth. And then you now also look at the children that are dying. Do you know what it means to carry a baby for nine months?”.

Hon. Usman in his goodwill message lamented that, if immunization had been  prioritized then Nigeria won’t  be where, it is on in terms of zero dose. 

 He said, “It is lack of priotisation that is causing child motalitity. Lack of prioritizing is a major issue and it is imperative the government should change . Govenment shouldn’t take chances with people’s lives in Nigeria. We need to continue to urge the government to release the outstanding funds. 

“This type of outstanding discourages parliamentarian”.

He lamented that for 2024 N108billion is not released and already in August 2025 over N231 billion are yet to be released for 2025, government need to do more on immunization fund.

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Coca-Cola Announces Sale of Chivita|Hollandia to UAC

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The Coca-Cola Company has announced sale of Chivita|Hollandia (CHI Ltd.)  to UAC of Nigeria Plc.

This is contained in a statement signed by the Chivita|Hollandia

Head of Public Affairs and Communications, Zainab Obagun, on Wednesday in Lagos.

Chivita|Hollandia is a leading food and beverage player in Nigeria with portfolios across value-added dairy products, juices, nectars, still drinks and snacks.

The Hollandia brand is a market leader in evaporated milk and drinking yoghurt, while the Chivita brand is a market leader in fruit juice.

UAC is a holding company focused on domestic manufacturing, marketing and distribution of leading consumer brands in Africa.

According to the statement, the transaction, which is subject to regulatory approval, supports Coca-Cola Company’s strategy to operate a flexible and asset-light model and focus on brands that have the greatest potential to scale.

The Group Managing Director of UAC, Fola Aiyesimoju, said:  “As a company with a strong presence in Africa, we are deeply committed to the continent’s growth.”

He said the acquisition presented significant potential to build on Chivita|Hollandia legacy of excellence and innovation.

“We are pleased to announce the acquisition of Chivita|Hollandia (CHI Ltd.), a leading dairy and juice business in the region.

“I would like to thank the management and staff of Chivita|Hollandia (CHI Ltd.) and look forward to working with the team to support the next phase of growth,” Aiyesimoju said.

The Managing Director of CHI Ltd., Eelco Weber, also noted that Chivita and Hollandia brands had become clear leaders in their categories.

“I would like to thank our over 5,000 employees for their hard work and dedication in bringing our business forward and earning us recognition as a Gold-rated Great Place to Work.

“We see a bright future for Chivita|Hollandia (CHI Ltd.).

”With the strength of our team, coupled with the dedication of UAC, there will be exciting opportunities for further growth,” Weber said.

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Edo PDP Demands Redeployment of  INEC REC

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By Mike Odiakose, Abuja 

Ahead of local government council election in Edo State, the State chapter of the Peoples Democratic Party (PDP) has demanded for the immediate redeployment of the Resident Electoral Commissioner (REC), Dr. Anugbum Onuaha, for his  role in the last governorship election.

According to the PDP,  the actions of the REC during the last gubernatorial polls undermined the credibility and integrity of the electoral process, and “we cannot allow such a tainted official to oversee the forthcoming bye-elections in Edo State.

Dr. Tony Aziegbemi, Chairman, Edo PDP Caretaker Committee,

 stated this in Benin City while briefing journalists on the preparation of the party for the fourth coming by- election.

“We however want to express displeasure that some electoral officers whom we are aware of, from their antecedent, have been compromised”.

“His actions during the last gubernatorial polls undermined the credibility and integrity of the electoral process, and we cannot allow such a tainted official to oversee the forthcoming bye-elections in Edo State.

The party urged the Independent National Electoral Commission (INEC) and its Chairman Prof. Mahmood Yakubu, a matter of urgency meets this demand and boosts voters confidence and assures the credibility of the process.

 They also demanded  that the Electoral Officers (EOs) during the 2024 gubenaotiral who were in Oredo, Ikpoba-Okha, Egor, Etsako West, Etsako East, and Akoko Edo steer clear of the bye-elections. Their involvement in the alleged irregularities that marred the last governorship election makes their participation unacceptable.

According to Aziegbemi, “Having completed this pre election process, our party in Edo State is highly prepared for the polls and are confident that we will emerge victorious. The areas in the contest are traditional strongholds of the PDP and with the quality and credential of our candidates and the support of the people, including our party supporters and members, we are sure of victory at the polls”. He stated.

The mantra, “One Man, One Vote”, remains our slogan and this we will uphold during the forthcoming bye-elections. As a party, we will not tolerate any form of electoral manipulation. We insist on a fair, credible, and transparent election and urge INEC, security agencies, and all stakeholders to ensure that every citizen’s vote counts and is protected.

“To those who have chosen to defect from our great party, we wish them the best in their future endeavors.However, we remind them that the natural laws of nature also apply to politics. 

“As we go into the elections, we remain focused on winning the National Assembly seats and as a formidable political party that enjoys the love and support of the people especially at the grassroots, we are confident of coming out victorious.

“We urge voters in the various constituencies to remain vigilant, participate actively by coming out enmasse to vote the PDP and its candidates who have the capacity and ability to deliver the dividends of democracy to the people, he said.

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