National News
Nigeria calls for strict implementation of ECOWAS competition policy
Nigeria calls for strict implementation of ECOWAS competition policy
By: Michael Mike, Abuja
Nigeria has called for strict implementation of the competition policy of the Economic Community of West African States (ECOWAS) Regional Competition Authority (ERCA).
The country also demanded for strong protection against anti-competitive practices and other exploitative tendencies against consumers across the region.
Trade experts in the country on Monday converge in Abuja to discuss ECOWAS competition policy. The sensitization and advocacy programme was jointly organised by the Federal Competition and Consumer Protection Commission (FCCPC) and ECOWAS Regional Competition Authority (ERCA).
The sensitization and advocacy discussion was organised to bring Nigerians abreast of the necessary policies guiding trade, competition and consumer protection within the West African region.
Speaking at the occasion, the Executive Vice Chairman, FCCPC, Mr. Babatunde Irukera underscored the importance of competition in economic development.
He said competition encourages innovation and efficiency, which in turn bring about quality and decrease in pricing.
Irukera said, “Ladies and Gentlemen, it is very important that the competition policy of ERCA is strictly implemented across all member states. Additionally, ERCA must provide strong protection against all anti-competitive practices and unscrupulous exploitation of consumers across member states and within the region.
FCCPC EVC who was represented by EC, Operations, Dr. Adamu Abdullahi also added that: “The role of competition as a driver of trade and economic growth cannot be over emphasized, especially in a developing economy like ours. Competition creates a level playing ground for businesses to compete fairly and ethically. It encourages innovation and efficiency amongst businesses which results in increase in quality and decrease in pricing. Competition also protects consumers by offering more choices at competitive prices.”
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Irekefa stressed that “the advent of the African Continental Free Trade Agreement, to which the Federal Republic of Nigeria is a signatory, now underscores the need for a strong and vibrant regional body on competition and consumer protection.”
He said: “The goal of AfCFTA is to create a single market economy within the African region. This objective is in sync with the ECOWAS Community Treaty which seeks to promote trade integration amongst member states.”
He noted that with a single market economy and competitiveness of local businesses, cross border trade will certainly be on the increase, adding that: “It is therefore very comforting for national competition authorities and business stakeholders to know that there is a regional body charged with the responsibility to ensure fair trade and competition across the region.
“And in this regard, the effort of ERCA in organizing this advocacy and sensitization campaign is very commendable.”
He assured the regional body that FCCPC will continue to support it’s advocacy efforts to sensitise consumers, business enterprises, governments and all key stakeholders on the competition principles and policies at both the regional and national levels, in order to ensure a smooth operation of both national and regional competition policies.
The Commission also pledges to support ERCA in conducting joint investigations and organizing joint capacity building training programs on competition and consumer protection in other member states.
A member of the Consultative Competition Committee of ERCA, Mr. kola Alabi, said competition and consumer protection affects the day to day living of every citizen and requires a collective effort both at the national and regional levels for us to have an efficient and effective competition and consumer protection regime within the ECOWAS region.
The Acting Executive Director of ERCA, Dr Simeon Koffi, delivered a presentation on ERCA amongst other presentations on cross border trade issues within the ECOWAS region, competition policy in relation to AfCFTA and competition and consumer protection regime in Nigeria – NGO’s perspective.
FCCPC has a core mandate to eliminate anti-competitive agreements, misleading, unfair, deceptive or unconscionable marketing, trading and business practices within the Nigerian markets or having an effect on the Nigerian economy.
Nigeria calls for strict implementation of ECOWAS competition policy
Police arrest MOPOL, security guards over warehouse burglary in Ogun
By: Zagazola Makama
The Police in Ogun have arrested a mobile policeman and several security guards for alleged conspiracy, burglary and theft from a warehouse belonging to H.K Printing & Packaging Limited, Agbara.
Security sources told Zagazola Makama that the incident occurred on Aug. 9 at about 11:00 p.m., when a truck drove into the company premises and proceeded to the warehouse, allegedly aided by security operatives on duty.
According to the sources, Insp. Ibrahim James, attached to PMF 16 Abeokuta, was captured on CCTV moving around and allegedly leading the operation.
Another officer, Insp. Olabamipe Olaiya, posted to the same beat, was said to be absent from duty at the time.
The company’s security guards and the implicated police personnel allegedly conspired with others still at large to break into the warehouse and cart away goods whose total value is yet to be ascertained.
Police detectives led by CSP Phillips Abayomi, Acting ACP, Agbara Division, visited the scene and arrested the mobile policeman along with the private security guards on duty during the incident.
The suspects are being interrogated, while efforts are ongoing to track down fleeing accomplices and recover the stolen items.
Police arrest MOPOL, security guards over warehouse burglary in Ogun
Police launch manhunt for herbalist over alleged ritual killing in Nasarawa
By: Zagazola Makama
The Nasarawa State Police Command says it is searching for a herbalist, simply identified as Alfa, over alleged involvement in a ritual killing and attempted murder in Mararaba.
It was gathered that the case was reported by one Jamilu Abubakar, a vigilante member.
Abubakar allegedly accompanied two young men to Alfa’s residence on Aug. 12 to seek spiritual assistance purportedly to make more money through internet fraud.
“It was gathered that Alfa prepared a concoction and meat for the victims to eat. Shortly after consuming the meal, both developed severe stomach pain and were rushed to the Federal Medical Centre (FMC), Mararaba.
“Sadly, one of the victims, Ani Sunday, aged 21, was confirmed dead by the doctor on duty, while the second, Tosin Akurunor, is responding to treatment,” said the sources.
He said Abubakar had been arrested for his role in taking the victims to the herbalist, while the main suspect, Alfa, was at large.
Efforts are ongoing to apprehend Alfa and conclude investigations, he added.
Police launch manhunt for herbalist over alleged ritual killing in Nasarawa
National News
Investments in circular economy have the potential to increase forex earnings- NESREA DG
Investments in circular economy have the potential to increase forex earnings- NESREA DG
By: Michael Mike
The Director General of National Environmental Standards and Regulations Enforcement Agency (NESREA), Prof. Innocent Barikor has affirmed that investments in the circular economy value chain have the potential to increase the country’s foreign exchange earnings.
Barikor made this statement recently during a meeting with the management of a plastic packaging recycling (rPET) company, Sonnex in Lagos.
He assured the team that the Nigerian government prioritizes circular economy, noting that the draft National Environmental (Plastic Waste Control) Regulations soon to be gazetted is one of the efforts to strengthen the legal framework for circular economy implementation in Nigeria.
He said: “Circular Economy falls under the Presidential priorities for the Federal Ministry of Environment, and the Minister is very keen on the success. Apart from tackling the problem of waste, green jobs have been created .
“The pellets and flakes you produce and export also generate foreign exchange. The Plastic Waste Control Regulations are awaiting official gazette and once gazetted, we would have connected the dots of the framework to implement circular economy in the plastic sector. We are deeply committed to ensuring the success of Circular Economy.”
Earlier, the Managing Director, Anil Mohinani intimated the NESREA boss on the process for the production of recycled PET bottles (rPET), whilst also highlighting the challenges faced by investors in the sector .
He listed some of the setbacks to include lack of a legal instrument to compel manufacturers in the food and beverage sector to embrace food-grade rPET, unfriendly policies by some foreign companies, and insufficient awareness .
“Europe and America create barriers to protect their international recycling business. There is unfair competition. In some countries such as Kenya, there is encouragement to invest in rPET recycling because there is a regulation in place,” he added.
Investments in circular economy have the potential to increase forex earnings- NESREA DG
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