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African Leaders Must Urge WTO Members to End Harmful Subsidies for Locals to compete – Fishermen

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Mauritania’s waters are rich in biodiversity: More than 600 fish species live in the northwest African nation’s territorial waters. The fishing industry provides jobs for 180,400 people and accounts for up to 10% of the country’s gross domestic product, according to the United Nations’ Food and Agriculture Organization.

But that wealth of marine resources is also the reason that fishing fleets from foreign nations flock to Mauritania’s coast.

These vessels are often powered by harmful government subsidies that pay for fuel and other expenses, artificially lowering the cost of fishing and enabling fleets to fish in areas where it would otherwise not make economic sense.

One hundred thirty-five foreign vessels, primarily from Asia and Europe, traveled across the ocean in 2018 to fish in Mauritania’s waters, also known as its exclusive economic zone (EEZ), according to a new research-based tool created by scientists from the University of California, Santa Barbara (UCSB), and funded by The Pew Charitable Trusts. That kind of distant-water fishing is only possible because of government subsidies.

Researchers from the University of British Columbia estimate that governments worldwide give out $22 billion in harmful fisheries subsidies every year, nearly two-thirds of which comes from six countries and the European Union. About $7.2 billion of the global total—or one-third—goes toward distant-water fishing, according to UCSB’s tool.

Negotiations on fisheries subsidies

WTO negotiations on fisheries subsidies were launched in 2001 at the Doha Ministerial Conference, with a mandate to “clarify and improve” existing WTO disciplines on fisheries subsidies. That mandate was elaborated in 2005 at the Hong Kong Ministerial Conference, including with a call for prohibiting certain forms of fisheries subsidies that contribute to overcapacity and overfishing.

At the 2017 Buenos Aires Ministerial Conference (MC11), ministers decided on a work programme to conclude the negotiations by aiming to adopt, at the next Ministerial Conference, an agreement on fisheries subsidies which delivers on Sustainable Development Goal 14.6

SDG 14.6, part of the 2030 Agenda for Sustainable Development adopted by all United Nations member states in 2015, affirms the WTO’s role in the global fisheries subsidies agenda.

SDG 14.6 targets “by 2020, to prohibit certain forms of fisheries subsidies which contribute to overcapacity and overfishing, and eliminate subsidies that contribute to IUU fishing, and refrain from introducing new such subsidies, recognizing that appropriate and effective special and differential treatment for developing and least developed countries should be an integral part of the WTO fisheries subsidies negotiation.”

Based on the mandate fixed under the Ministerial Decision from the WTO’s 11th Ministerial Conference, and the UN Sustainable Development Goal Target 14.6, negotiators are expected to secure an agreement in 2020 for disciplines eliminating subsidies to IUU fishing and for prohibiting certain forms of fisheries subsidies that contribute to overcapacity and overfishing, with special and differential treatment for developing and least-developed countries.

Afreximbank signs $825m deal with NEXIM bank

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The African Export and Import Bank (Afreximbank) and the Nigerian Export and Import (NEXIM) Bank on Thursday night in Durban, South Africa, signed a total of $475 million project financing and a grant of $350 million.

A breakdown of the financing shows that the $350,000 grant is to be used to dredge the Niger-Benue River to help move goods from the seaports further into the land port.

The second agreement was Afreximbank’s support to Nexim with a $50 million facility to boost fleets. More importantly, there was another $400 million to help expand inland ports as well as existing ports to support intra-African and regional trade. This is the first deal to be signed between the two institutions. To ensure that Afreximbank can work together with Nexim to promote the ceiling projects.

Also embedded in this, was a $25 million facility, referred to as the pandemic trade impact facility, which is to be disbursed to NEXIM to help make its support to its clients who are into the import-export business in Nigeria. The facility will help Nexim’s clients mitigate the impact of the COVID and the pandemic on their businesses and ensure that they can bounce back and quickly get out of the adverse effects of Covid-19.

Speaking on the sideline of Nigeria’s day at the ongoing 2021 Intra-African Trade Fair (IATF), Benedict Oramah, (professor), president, Afreximbank, said, “why we do this country day event is to receive information on the trade and investment opportunities in the countries that win the bid to host country days. We also use it in the case of Nigeria to test the reach and diverse culinary and cultural endowment of the country”.

He said Nigeria has demonstrated resolute support to Afreximbank and the Intra-African trade fair. This has been underscored this year by the participation of President Buhari at the opening ceremony. This year also, Nigeria is participating with a very strong contingent of about 1,500 as of today (Thursday).

“Afreximbank is most grateful for the support we have been receiving from Nigeria. We are grateful for the support we have received during this trade fair, which has a long history of fund support Afreximbank has received from the government and the people of Nigeria since it was created,” Oramah said.

It is that support that propels Afreximbank’ intervention in Nigeria. For instance, Afreximbank’s cumulative direct financing support topped $26 billion by the end of 2020.

Nigeria’s GDP Slows To 4.03%, After Three Positive Growths

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Nigeria’s Gross Domestic Product (GDP) grew lower than the celebrated growth of 5.01 per cent recorded in the second quarter of 2021 by 0.98 per cent points, according to data released by the National Bureau of Statistics (NBS).

According to the official data, GDP grew by 4.03 per cent (year-on-year) in real terms in the third quarter of 2021.

This is as the Statistician-General of the Federation and head of the NBS, Simon Harry explained that the negative GDP figures recorded in 2020 as a result of the COVID-19 pandemic had serious base effects on the GDP figures for quarters two and three 2021.

He made the announcement on Thursday in Abuja at a media conference where he presented the third quarter GDP report.

He stated that the improvement being seen in the output growth over the last four quarters depicts a steady progress made in stemming the COVID-19 pandemic and the associated negative impact on livelihood, well-being and the economy.

Quarter on quarter real GDP grew at 11.07 per cent in Q3 2021 compared to Q2 2021, reflecting a higher economic activity than the preceding quarter.

During the third quarter 2021, oil contributed 7.49 per cent to GDP from 8.73 per cent contributed in third quarter 2020.

Non-oil sectors accounted for 92.51 per cent, an increase from 91.27 per cent recorded in third quarter 2020, the fastest growing activities in third quarter 2021.

The Nigerian economy has been classified broadly into the oil and non-oil sectors.

In the quarter under review, aggregate GDP stood at N45 trillion in nominal terms. This performance is higher when compared to the third quarter of 2020 which recorded aggregate GDP of N39 trillion, indicating a year-on-year nominal growth rate of 15.41 per cent.

Why Nigeria Secured $72m World Bank Loan For Land Information System – Onu

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Minister of Science and Technology, Ogbonnaya Onu has explained why the federal government secured $72 million from the World Bank for the 36 states of the Federation to develop states’ land information system.


Speaking at the Geoinformation Society of Nigeria Annual Conference held in Lagos, the minister said the gesture is to strengthen internally generated revenue (IGR) collection at the state level, adding that the effort will generate not less than 50,000 employment for the teeming youths.
He said, “The World Bank through the Federal Ministry of Finance, Budget and National Planning secured $2,000,000.00 for each of the states totaling $72,000,000.00 for the 36 states to develop the States’ Land Information System.
“It is worthy to note that, the World Bank-assisted States Fiscal Transparency, Accountability and Sustainability (SFTAS) programme DLI5 on the Land Information System (LIS) is to strengthen Internally Generated Revenue (IGR) collection at state level. This singular effort will generate not less than 50,000 jobs for our teeming youth.”


In his welcome address at the occasion, the President of Geoinformation Society of Nigeria, Dr Matthew Adepoju, said that it is pertinent that repositioning the nation requires knowledge in the economy to catch up with the rest of the world.
Listing security, environment and socio-economic factors as the problems confronting the nation, Adepoju said, “The current reality is, the world has entered the fourth industrial developmental revolution where things are done differently.”
He argued that the coming of COVID-19 is a blessing in disguise. He said, “The arrival of COVID-19 seems to be a blessing in disguise just like the second (2nd) World War accelerated the technological advancement for mankind.


What is Land Information System?


Land Information System (LIS) is a flexible land surface modeling and data assimilation framework designed using advanced software engineering principles. Structured to enable community sharing and the reuse of modeling tools, data resources, and assimilation algorithms.
Land information is crucial for planning and development. The rapid pace of development in many of the cities in Nigeria, while bringing about high growth rates also brings with it heavy burden on land utiliation. To ensure that the high growth rate can be sustained, it is imperativeto plan for an effective land information system to plan the utiliation of its land resources for development while at the same time, protect the environment.


Adepoju added, “Geoinformation Society of Nigeria, have a great role to play in managing every facet of quest for development from industrialisation, smart city, precision agriculture, transportation, communications and many more to firmly position Nigeria through disruptive geospatial information and spatial data technological revolutions.
“The bedrock of the fourth revolution of human development is powered by geospatial technology. If Nigeria is to move forward and in the right direction, geospatial science and technology, geospatial intelligence must play a great role in its developmental programme.


It is worthy of note that this is one of many Federal government’s move towards achieving sustainable development goals. Through this systematic measure the government want to ensure effective land information system which it will use to plan the utiliation of its land resources across the 36 states of the federation, share resources; it is a major Climate Change Action because it seeks to protect the environment.

Obasanjo Prescribe Made-in-Africa Brand

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Former President of Nigeria and African Union, Chief Olusegun Obasanjo has called for a special ‘Made-in-Africa’ brand to promote intra-African trade and boost the export of products made on the continent.

According to a statement from the organisers of the International African Trade Fair 2021, Obasanjo made the call during a session at the event in Durban, South Africa, on Thursday.

Obasanjo, also was quoted as saying, “Having a ‘Made-in-Africa’ brand will instill a sense of pride in each African country.

The African Continental Free Trade Area Agreement is working to remove the divisions that were brought about by colonialism, where Africa was divided into regions based on the languages of the colonisers.”

According to him, the shared vision of IATF2021 participants and the traders at the Trade Fair is what will bring the African Continental Free Trade Area Agreement to life.

“I have been impressed by the interaction of people at the IATF. People are working together, and this creates the environment in which miracles can happen,” said Obasanjo.

Pres. Buhari Signs Nigeria’s Climate Change, AMCON Bills Into Law

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Nigeria’s President Muhammadu Buhari on Thursday signed the Climate Change bill into law.

This was made public by the president’s spokesperson, Garba Shehu.

According to Shehu, the Climate Change Act owes its origin to a bill sponsored by a member of the House of Representatives, Sam Onuigbo, and provides for, among other things, the mainstreaming of climate change actions and the establishment of a National Council on Climate Change.

The Act also also paves the way for environmental and economic accounting and a push for a net zero emission deadline plan in the country.

The president had earlier made a commitment during the world leaders summit of the just concluded United Nations Climate Change Conference, COP26, in Glasgow, Scotland that Nigeria will cut its carbon emission to net-zero by 2060.

The president also signed the Asset Management Corporation of Nigeria (Amendment) Act into law.

The AMCOM Act provides for the extension of the tenor of the Resolution Cost Fund and grants access to the Special Tribunal established by the Banks and other Financial Institutions Act 2020, which confers on the corporation the power “to take possession, manage, foreclose or sell, transfer, assign or otherwise deal with the asset or property used as security for eligible bank assets and related matters.’’

“This, in effect, will help AMCON make recoveries and for debtors to fulfil their commitments to banks,” Shehu concluded.

State Varsity Gets NUC Approval For Post Graduate Programmes, Others

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The National Universities Commission (NUC) has approved postgraduate programmes and 16 additional undergraduate programmes at Sokoto State University.

In a statement, the University Information Officer, Zayyanu Shehu, quoted the Vice-Chancellor, Prof. Sani Mohammed Dangoggo, saying that the development followed the commission’s successful resource verification visit.

The statement further disclosed that the NUC had in a letter dated November 8, 2021, signed by its Director of Academic Planning, Dr. N. B. Saliu, on behalf of the Executive Secretary, Professor Abubakar Rasheed, considered and approved the establishment of postgraduate programmes for the university, with effect from the 2021/2022 academic session.

In a related development, the commission also approved 16 additional undergraduate programmes for the university.

Reacting to the development, Dangoggo said the outcome of the visit did not come to them as a surprise. He promised that the efforts would continue to be geared towards making the university an enviable institution.

He further explained that the university was established in 2009 and commenced academic activities in 2013. It is currently offering 23 undergraduate programmes with full accreditation.

The VC thanked the commission for its continued efforts towards maintaining the standard of university education in the country.

Dangoggo has similarly expressed the institution’s warm appreciation to the visitor to the university, Governor Aminu Tambuwal, for his unflinching support towards uplifting the university’s standard, in particular, and the education sector of the State as a whole.

He specifically applauded the commitment of the Dean, School of Postgraduate Studies, Prof. Aminu Salihu Mika’ilu, Deans of the Faculty and the entire members of staff towards the success of the exercise.

Offa Poly Gets Assurance on Upgrade to University of Technology

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The aspiration and efforts of the Federal Polytechnic, Offa, to be upgraded to a university of technology may soon be attained, given the assurance by the senator representing Kwara South Senatorial District, Oyelola Ashiru, at the 11th convocation ceremony of the institution.

The recently concluded 11th convocation ceremony of the Federal Polytechnic, Offa, may be its last as a national and higher national-awarding institution, as efforts to upgrade it to a university gather momentum.

The institution had a combined convocation for 12,161 two sets of graduates for the 2018/2019 and 2019/2020 academic sessions. It also conferred a fellowship on Ashiru and Prof. Ahmed Sadauki.

Ashiru, while thanking the management for the honour, assured members of the polytechnic community that the upgrade would soon be actualised.

The bill to upgrade the polytechnic, which Ashiru sponsored, has passed through second reading at the Senate and referred to the Senate Committee on Tertiary Institution and TETFund.

Highlighting the institution’s preparedness for the upgrade, the Rector, Dr. Lateef Olatunji, whose five-year tenure will soon elapse, said since his assumption of office as the fourth substantive rector, efforts have been geared towards guarding the recorded successes jealously and ensuring its steady progress as far as core academic culture is concerned.

“We have not only placed the institution on steady academic growth, but we have also expanded the facilities available for teaching and learning on our two campuses, and we have made the administrative environment more convenient. I am confident that successes recorded during our term would be sustained and improved upon by successive administrations,” he said.

He thanked the visitor, President Muhammadu Buhari, for the current positive steps to reposition technical and vocational education, especially Nigeria’s tertiary education system.

The rector stated that the present crop of graduating students, apart from their respective areas of professional studies, were further equipped with the necessary training in entrepreneurship to confront the challenges of dwindling employment opportunities.

The polytechnic boasts of well-equipped laboratories, studios and workshops for technology-oriented departments to function optimally and continuously upgrade to meet modern standards.

Under Olatunji, the polytechnic has taken steps to develop further its infrastructures (construction and reconstruction of roads, provision of modern working facilities, procurement of equipment into laboratories, workshops and studios). It has continued to sustain its online admission culture, collaboration links with organisations within and outside the country, and a conducive environment to boost working and aid learning.

In research and development, the institution has become well-known for some of its technological innovations and scientific breakthroughs. Such include the sweet potato for bread and other confectioneries from the School of Applied Science, password-enabled security doors, automatic dust bin, microcontroller-based appliance control system, a model house built with expanded polystyrene wall substitute for concrete blockwork.

Others are animal waste to biogas for domestic heating, solar electric system, solar cooker, among others, from the School of Engineering.

He added that all ND and HND programmes have the required approvals, and the management has also successfully mounted additional programmes including Catering and Hotel Management, Agricultural Technology, Public Administration, Environmental, Purchasing, and Procurement. The institution has continued to increase staff strength and also facilitated several capacity-building programmes for staff. Currently, he said more than 50 staff are PhD holders.

The rector announced that the Institute of Chartered Accountants of Nigeria (ICAN) recently listed the polytechnic as one of its certified institutions in Nigeria to obtain qualitative accountancy training.

Other achievements he said are regular staff promotion, prompt payment of salaries and allowances.

Olatunji announced the successful commencement of affiliation programmes with the Federal University of Technology, Minna, following the National Universities Commission (NUC) approval. He said the programmes commenced fully in the 2018/2019 academic session with four programmes (B. Tech. in Computer Science, Mechanical Engineering, Electrical Engineering and Food Science and Technology).

He said the polytechnic is currently in collaboration with industries/agencies like Nigeria Building and Road Research Institute (NIBRRI), Federal Institute of Industrial Research, Oshodi (FIIRO).

He stated that the administration also facilitated the surveyor’s instrument (digital level) worth N5.3 million to the Department of Surveying and Geo-informatics. The instrument was donated by the Surveyors Registration Council of Nigeria (SURCON) during the induction of newly registered surveyors in Nigeria. There was also the NCC training and donation of 110 laptops to the polytechnic.

In his remarks, President Buhari, represented by the Director, Polytechnic Education and Allied Institutions, Federal Ministry of Education, Adeleye Adeoye, noted that nations are in stiff competition to outwit one another in the area of offering quality knowledge and positive researches, and Nigeria should be able to provide leadership in Africa in that regard.

He called for the promotion of a modern approach to knowledge acquisition and urged agencies in charge of education development to find a way of encouraging youths to learn in the country’s institutions, as well as to attract international students and researchers so that the ranking of Nigerian polytechnics can soar.

The president stressed that quality technological and technical education is indispensable in the country’s drive for a technologically advanced nation.

He said some resources are invested in the polytechnics, and Nigerians have the right to expect results from their investments. He, therefore, urged polytechnics to assure Nigerians at such occasions by showcasing new discoveries or inventions that can add value to the standard of living.

Buhari also advised the graduands to use the skills acquired at the polytechnic to venture into the entrepreneurial field instead of waiting for white-collar jobs. He said the government gives soft loans to budding entrepreneurs through the Bank of Industry and other social interventions

“The wealth of this nation is in the hands of teeming youths, who are willing to nurture businesses, explore opportunities and create ventures that are noble and novel,” he said.

The Chairman of the Governing Council, Dr. Usman Ahmed, thanked the president for the confidence reposed in the council members and always promised to make policies in accordance with the government’s ‘Education for Change’ agenda.

He ascribed the continued peaceful existence in the institution to the maximum cooperation of staff and students, which has led to an uninterrupted academic calendar.

According to him, among the concerns of the council and management of the polytechnic is the welfare and progress of the staff, to which the outstanding 2020 staff promotion was promptly attended to at the inaugural meeting of the council.

The Chairman also commended the federal government through the Tertiary Education Trust Fund (TETFund) for sponsoring staff for capacity development regularly.

Afe Babalola University Deserves Tourist Centre Designation- Ex-Lawmaker

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Former member of the House of Representatives, Bimbo Daramola, has declared that the unique architectural designs and state-of-the-art facilities of the Afe Babalola University, Ado Ekiti (ABUAD) qualify it as a tourist centre where students and other Nigerians could have memorable scholastic expedition.

Daramola lauded the huge interventions of Afe Babalola (SAN) in the areas of education and health as manifested in ABUAD and ABUAD’s multisystem hospital.

The former lawmaker and convener of the Nigeria Skits Industry Awards (NSIA) initiative, made these remarks after a tour of the massive investments in the two facilities.

He, therefore, called on the Ekiti State Governor, Kayode Fayemi, and the state House of Assembly to accord due recognition to the elder statesman.

The promoter of One United Africa initiative also hinted that a visit to ABUAD would certainly change any wrong notion about the legal icon and what he stands for, adding: “I am a fastidious person about the need to build our society on enduring values, one of which is due recognition for whoever has earned it; to me, this is an elixir for great inspiration.”

Daramola explained that the recognition would go a long way in acknowledging and appreciating the selfless service of the Senior Advocate of Nigeria (SAN) to humanity.

He explained that “students should go there on excursion of the facilities at both the hospital and the university among others to see for themselves. This will be a symbolic frontal raising a generation on a society whose building block will include the virtue of selflessness and service to mankind, where we consciously raise more selfless people who care for others.”

Afreximbank signs $1.2bn financing deals with 4 African companies

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African Export-Import Bank (Afreximbank) on Wednesday signed financing deals worth $1.2 billion with four African companies and a Memorandum of Understanding (MoU) with the African Union Development Agency (AUDA-NEPAD).

The breakdown of the deal shows that Oakmill Group International signed a $210 million project finance facility, $100 million trade finance facility was in favour of Harvest Group of Companies.

Also, a $110.4 million syndicated term loan facility was signed in favour of Zimbabwe Electricity Transmission and Distribution Company (ZETDC), and $750 million for Eroton Exploration and Production Company Limited.

It was explained at the signing ceremony in Durban, South Africa that the bank issued the facility to Eroton to finance the acquisition of 100 percent of the shares into special purpose vehicles, oil mining lease, under secured, senior secured reserve-based lending facility, and also to finance the prepayment of all of Eroton’s outstanding exposures with its existing lender. This has taken two years to come to fruition.