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Manufacturing Trade Deficit Hits N9.4tn In Nine Months

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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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Workers’ Day: Obaseki Says Edo Has Best Reformed Civil Service, Recruited Over 5,000 In Seven Years

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The Edo State governor, Mr Godwin Obaseki, said he has recruited over 5,000 workers into the state civil service since the inception of his administration in the past seven and half years.

He disclosed this while delivering his good will message to the workers in the state to mark the May Day celebration.

Mr. Obaseki said he has been able to turn the fortune of the state and its worker around by keeping to his electioneering promises.

“One of the things I promised in 2016, is that I was going to build our institution for governance and today, we can proudly say that workers have had means to achieve the modest institutional reform which we have now achieved in Edo State.

READ ALSO: Workers’ Day: Gov. Mohammed Pledges Result Oriented Civil Service

“With your support, we have been able to recruit over 5,000 new workers into the Edo State service based on merit and no longer on favouritism as it used to be.

“Now, you don’t have to know anybody to get work in government in Edo you just need to know something.

“You can celebrate that we now have the best public service training academy in West Africa. And this academy, John Odigie Oyegun Public Service Academy (JOOSPA) has trained over 10,000 workers who participated enthusiastically in our trainings.

“I have been amazed how workers in Edo State have embraced and adopted technology and how they have continued to use the application to rebuild the way we do things in government”, Obaseki said.

READ ALSO: JUST IN: FG Approves Salary Increase For Civil Servants

The governor, while commending the cordial relationship that has existed between his government and the organized labour in the state, maintained that the labour has not gone on strike except the the ones called by the Nigeria Labour Congress (NLC) which the organized labour had to comply with.

He said his recent increment in the workers salary is one of his demonstrations of his commitment to their welfare, adding that he has already assured them that if the federal government increases its allocations to the state, he will also reflect it by increasing their salary too.

He thanked the organized labour for their cooporation over the years just as he urged them to sustain same.

On his part, state chairman of the NLC, Comrade Odion Olaye, thanked the state governor for increasing the workers salary and building them a befitting edifice in the state.

He said that the workers in the state will ever be grateful for him for providing a conducive working environment for workers in the state to thrive.

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Workers’ Day: Gov. Mohammed Pledges Result Oriented Civil Service

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Gov. Bala Mohammed of Bauchi State says his administration would do everything to make sure that the Civil Service in the State remained vibrant and result oriented.

Mohammed, who stated this during the 2024 International Workers’ Day celebration in Bauchi on Wednesday, said the move was to ensure seamless delivery of dividends of democracy to the good people of the state.

Represented by his Deputy, Alh Auwal Jatau, Mohammed reassured that no stone would be left unturned in his administration’s resolve to reposition the civil service and thereby restore its lost glory.

He explained that the recent provision of Wage Award and restoration of the payment of Annual Leave Grant to Civil Servants in the state was a deliberate attempt at providing succor to Civil Servants.

Mohammed commended the International Labour Organization for singling out workers day to celebrate workers’ contributions to world growth and development, adding that workers had the responsibility of striving to salvage the socio-economic and political fortune of the country.

“I am very pleased to be part of another annual celebration of the International Workers Day also known as ‘MAY DAY’.

“This day is specifically set aside to acknowledge and appreciate the contributions of workers to the socio-economic development of the country.

“As May Day is celebrated, workers in both the public and Private Sectors have the opportunity to reflect on their performances and see how much they have contributed to the development of their fatherland.

“They should also see how to address the current challenges affecting our economic, social, security and other vital areas of human endeavors in order to move the country forward,” he said.

According to him, since the inception of his Administration, measures had been put in place to stabilise salaries and pensions payment with a view to have credible nominal roll that would reliably drive the payroll, block leakages, improve cash flow management and cut unnecessary spending.

Earlier, the State Head of Civil Service, Yahuza Adamu, appreciated Governor Bala Mohammed for his administration’s investment in the civil service and tasked workers to reciprocate the gesture by supporting the present administration in the state to succeed in the implementation of policies and programmes.

Also, the Chairman of NLC in the state, Comrade Dauda Shuaibu, expressed gratitude to the governor for the payment of Ten thousand naira Wage Award to all workers in the state and urged him to sustain it so as to alleviate the current economic challenges being experienced by workers.

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Super Falcons Goalie, Nnadozie Wins Best Goalkeeper Award In France

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Super Falcons of Nigeria goalkeeper, Chiamaka Nnadozie, has become the first African and Nigerian player to be crowned the best goalkeeper in the French D1 Arkema (women’s league).

The 23-year-old shot-stopper cemented her status as one of the best goalkeepers in the world following her remarkable achievements and heroic penalty-savings this season for Paris FC.

Nnadozie beat out stiff competition from Olympic Lyon’s Christiane Endler and Katarzyna Kiedrzynek of Paris SG to claim the coveted individual accolade.

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“It’s very pleasing because she deserves it and she achieved an exceptional Champions League and not only on penalties,” said Pierre Ferracci, the president of Nnadozie’s club, Paris FC.

She is adorable. It is deserved. We know that she will be courted this summer, but we will try to keep her,” Pierre Ferracci added.

Paris FC currently sits third in the league with 42 points, eight points behind their local rivals Paris Saint-Germain and a further 11 points away from the league leaders, Lyon.

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