News
Manufacturing Trade Deficit Hits N9.4tn In Nine Months
Published
1 year agoon
By
Editor
Nigeria’s trade balance of manufactured goods hit a deficit of N9.4tn in the first nine months of 2023, findings by The PUNCH reveal.
This is according to analysis of various Foreign Trade Statistics reports published by the National Bureau of Statistics.
According to the data, in the first quarter of 2023, Nigeria’s imports of manufactured goods stood at N2.5tn. In the second quarter, it increased to N3.2tn and N4.1tn in the third quarter.
Cumulatively, manufactured goods imports in the first nine months of 2023 stood at N9.9tn.
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On the other hand, exports recorded in this category were N131bn, N212bn and N200bn in the first, second and third quarters, respectively, totalling N543bn.
This means that the difference between imports and exports during the period in review stood at a negative, as imports exceeded exports to the tune of N9.37tn.
Major items imported during the period included ‘Used Vehicles, with diesel or semi-diesel engines from the United States and United Arab Emirates, ‘Machines for reception, conversion and transmission … of voice, images or data’ imported from China and ‘Other medicaments not elsewhere specified’ from India.
The major exports in this sector were ‘Unwrought aluminium alloys’ exported to Japan, ‘Oilcake and other solid residues, resulting from the extraction of soyabean oil,’ and Cathodes and sections of cathodes’ exported to Japan.
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The data revealed that manufactured goods exports by region were mainly exported to Asia, Africa and Europe.
According to a report by the Manufacturers Association of Nigeria, the highest non-oil export volume done by Nigerian businesses in recent times was $9.13bn and that was just before COVID-19.
The report said Nigeria had not done well in global export trade as it ranked 52nd among nations.
The report, titled ‘Emerging Issues Disrupting Nigeria’s Non-Oil Export And Innovative Solutions,’ cited production, port administration and operating environment as some of the primary impediments to non-oil exports in the country.
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Also, a recent World Bank ‘Nigeria Development Update noted that non-oil revenues also need to be increased even with oil benefits being secured.
In an interview with Sunday PUNCH, the President of the Manufacturers Association of Nigeria, Francis Meshioye, said exporting manufacturers were usually unable to compete with their international counterparts due to factors bordering on high production costs.
According to him, Nigerian manufacturers are saddled with high production costs, which ultimately push up the prices of manufactured goods.
Meshioye said, “We tell our members to export more, but all these things are based on competitive advantages. If you want to export a product, it is fine, but at what cost are you going to export it? What will be your price? If the cost is astronomically high, it will be difficult to export. It is a circle.
“The export base should be good enough to support the floating exchange rate, but we need to have a good economic base to do that.”
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Idahosa Optimistic Shaibu Will Perform As National Sports Institute DG
Published
3 hours agoon
June 22, 2025By
Editor
The Edo State deputy governor, Hon. Dennis Idahosa, has expressed optimism that his predecessor in office, Hon. Philip Shaibu will excel in his new role as Director General of the National Institute for Sports (NIS).
The deputy governor expressed his optimism during the Thanksgiving Mass to celebrate the appointment at St. Paul Catholic Church in Benin on Sunday.
Idahosa, who appreciated President Bola Tinubu for the appointment, said Shaibu will bring to bear on the new job his experience as an astute sports administrator.
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“We are indeed grateful for what God has done. We will continue to thank God on his behalf, because, he has served our state.
“Now, God has given him the opportunity to serve the nation. We will continue to pray for him for a successful tenure,” he stated.
The former deputy governor appreciated Idahosa for according him the honour with his physical attendance at the Thanksgiving Mass.
He assured the state of his readiness to effectively be a good ambassador effectively by working to reposition of the NIS in line with the renwew hope agenda of the President.
“I will try my best to bring the institute back to life. I will ensure that the reason for setting up the NIS is achieved,” he stated.
News
Falana Slams Government Over Failure To Prosecute Suspected Killers In Benue
Published
4 hours agoon
June 22, 2025By
Editor
Human rights lawyer and senior advocate of Nigeria, Femi Falana (SAN), has criticized the Federal and Benue State Governments for consistently failing to prosecute suspects arrested in connection with ongoing violent attacks across Benue State.
In a statement issued under the platform of the Alliance on Surviving COVID-19 and Beyond (ASCAB), which he chairs, Falana lamented that although hundreds of suspects have been arrested over the years for crimes ranging from illegal possession of firearms to mass killings and kidnapping, most of them are never charged or brought to trial.
The legal luminary’s reaction follows President Bola Ahmed Tinubu’s recent visit to Benue, during which he directed the Nigeria Police Force to arrest and prosecute all those involved in the latest wave of violence in the state. However, Falana described the president’s order as potentially symbolic, pointing out that previous arrests had not led to convictions or justice for victims.
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Falana also berated the Chief of Defence Staff, General Christopher Musa, for alleging that residents of Yelwata community provided shelter for the killers. He described the statement as an attempt to shift blame onto victims instead of addressing the systemic failures of security and governance.
Providing a timeline of law enforcement actions, Falana stated:
On December 30, 2024, the Benue State Commissioner of Police, Mr. Hassan Yabanet, announced the arrest of 273 suspects involved in capital crimes, along with the recovery of 20 firearms and 51 rounds of ammunition.
On January 17, 2024, Police spokesperson Olumuyiwa Adejobi revealed that an illegal firearms factory had been uncovered in Benue. Two suspects—Friday Aduduakambe and Iorwashima Iornyume—were arrested, and a cache of weapons, including nine locally made pistols and one unfinished AK-47, was seized.
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On April 17, 2025, Governor Hyacinth Alia disclosed that three herdsmen were arrested over the killing of 11 people in the Otobi community, Otukpo Local Government Area.
On June 19, 2025, Community Volunteer Guards apprehended three suspected kidnappers at the Otukpo motor park with ransom money collected from their victims.
According to Falana, between January and June 2025 alone, dozens of violent crime suspects have been arrested, including 43 suspected killers in the last 10 days. Despite these arrests, no significant prosecutions have been reported.
“It is undoubtedly clear that the authorities have continued to treat suspected killers in Benue State like sacred cows,” he said. “The Attorney-General and Commissioner for Justice of Benue State, Mr. Fidelis Mnyim, must take immediate steps to ensure that justice is served.”
Falana stressed that the right to life, guaranteed under Section 33 of the 1999 Constitution, is meaningless unless the state acts decisively to punish those who violate it.
He warned that unless concrete action is taken, the ongoing culture of impunity will only worsen the bloodshed and erode public trust in the rule of law.
News
Troops Nab 8 Kidnap Suspects, Rescue 2 Victims In Kwara
Published
4 hours agoon
June 22, 2025By
Editor
Troops of the 22 Armoured Brigade, deployed at the Forward Operation Base (FOB) Patigi, in Kwara have nabbed eight suspected kidnappers and rescued two victims.
This is contained in a statement signed by Lt. Stephen Nwankwo, Acting Assistant Director, Army Public Relations of the Brigade in Ilorin on Sunday.
“Acting on credible intelligence, troops launched a tactical operation on Saturday, targeting a hideout on the outskirts of Latandaji Village in Patigi Local Government Area.
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“During the engagement, troops encountered mild resistance, but swiftly subdued the criminals with superior firepower,” he said.
Nwankwo said that the operation led to the rescue of two kidnap victims, identified as Amos Moses and Philip Michael, while eight suspected kidnappers were arrested.
He, however, said that one Mohammed Mohammed sustained gunshot wounds during the exchange of fire and had been taken to hospital for medical attention.
The brigade spokesman said that further operational exploits in the area led to the recovery of two motorcycles and two expended cartridge shells, believed to be used by the suspects.
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“All arrested individuals are currently in military custody for preliminary investigation and will be handed over to relevant authorities for prosecution,” Nwankwo said.
He said that the operation underscores the Nigerian Army’s unwavering commitment to ensure safety of lives and property across the country.
“We urge members of the public to continue providing actionable intelligence to security forces in order to dismantle criminal networks.
“The Nigerian Army remains resolute in its mission to safeguard communities and restore lasting peace in all regions of deployment,” he said.
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