Connect with us

News

Nigeria export to Angola hits $16.8m between 2020-2022

Published

on

Nigeria export to Angola hits $16.8m between 2020-2022

By: Michael Mike

The Secretary of State for International cooperation and Angola communities, Domingos Lopes has said Nigeria’s export to Angola between 2020 and 2022 hit $16.8million.

Lopes made the disclosure at the first Angola-Nigeria business Interactive Forum in Abuja.

The Secretary, who represented the Minister of External Relations, His Excellency Téte Antonio said the ties between both countries were marked by signing of the first economic, technical —scientific and cultural cooperation agreement in 1976, adding that exchange between the two has been remarkable in the diplomatic, defence and security, petroleum, education, culture and transportation.

He said: “In the last three years (between 2020 and 2022), Angola exportation of goods to Nigeria was estimated at USD 5.6 million and its importation stood at USD 16.8million, corresponding to a negative trade balance of about USD
11.2million.”

He revealed that Angola exported crude oil weighing about 42% to Nigeria, optics and precision accounting for 20%, mechanical machines and devices with their own function, accounting for 14% of the total volume of exports.

He said in the area of importation of acquired product group were machine and apparatus, CKD, plastics, rubbers and other transport materials. These groups in their total represent more than half of the total exportation during the period (41%,19% and 15% respectively).

Lopes also noted that Angola counts on the support of Nigeria during its economic reform, but lamented that: “The present international system is facing various challenges.

“Angola being part of the system is witnessing a special moment marked by structural reforms that aim to transform its macroeconomic situation.

“To achieve this objective, the Angolan government intend to count on the support of friendly countries who are always on its side, and one of these is indisputably, Nigeria.”

Also speaking at the event, the Minister of Information and National Orientation, Mohammed Idris said the administration of President Bola Tinubu will continue to strengthen both mutual ties, through a deliberate pursuit of productive bilateral relations.

He said: “President Bola Tinubu is desirous to deepen the relationship between Nigeria and other African countries, including Angola.

“Among other things, we are working on signing a Memorandum of Understanding on Public Communication and Media Exchange with the Embassy of Angola in Nigeria, as part of efforts to deepen our relationship.

“Nigeria is very much keen to support Angola’s domestic and foreign aspirations and the country’s overall development, and we expect reciprocity in this regard.”

The Angola Ambassador Designate to Nigeria, Amb. Jose Zau said the forum will help strengthen the economic ties between Nigeria and Angola.

Nigeria export to Angola hits $16.8m between 2020-2022

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

NESREA Shuts Kano Rice Plant Over Environmental Violations

Published

on

NESREA Shuts Kano Rice Plant Over Environmental Violations

By: Michael Mike

The National Environmental Standards and Regulations Enforcement Agency (NESREA) has sealed off a rice processing facility in Kano State, Fortune Rice Mills Limited, over alleged violations of environmental regulations relating to air pollution and offensive emissions.

The enforcement action, carried out on Monday, was led by the agency’s North-West Zonal Director, Dr. Mudashiru Raheem, following investigations into public complaints against the company.

According to NESREA, residents had raised concerns over persistent dust emissions and offensive odour emanating from the facility despite earlier compliance notices issued to the company.

The agency said investigations established that the rice mill violated provisions of the National Environmental (Air Quality Control) Regulations 2014 as well as the National Environmental (Food, Beverages and Tobacco Sector) Regulations 2023, prompting the sealing of the plant.

Director-General of National Environmental Standards and Regulations Enforcement Agency, Innocent Barikor, who authorised the shutdown, condemned what he described as the “reckless attitude” of some industrial facilities towards public health and environmental safety.

Barikor stressed that economic interests must not come at the expense of citizens’ wellbeing and environmental sustainability, warning that the agency would continue to enforce compliance with environmental laws across the country.

“The health of citizens and the environment must not be sacrificed on the altar of economic gain,” he said.

He also called on Nigerians to take greater responsibility for environmental protection by reporting environmental infractions and pollution incidents to the agency for prompt action.

The latest enforcement underscores renewed regulatory scrutiny on industrial operators amid growing concerns over environmental pollution and public health risks in several parts of the country.

NESREA Shuts Kano Rice Plant Over Environmental Violations

Continue Reading

News

Troops Arrest Suspected Gunrunner in Taraba Over Alleged Sale of 23 Rifles

Published

on

Troops Arrest Suspected Gunrunner in Taraba Over Alleged Sale of 23 Rifles

By: Zagazola Makama

Troops of the Nigerian Army have arrested a suspected gunrunner in Taraba State over the alleged sale of 23 AK-47 rifles to a rogue vigilante leader.

Security sources said the suspect was apprehended at about 3:30 a.m. on May 17, 2026, during a joint intelligence-led operation conducted by troops of the 20 Model Battalion and operatives of the Defence Intelligence Agency.

According to the sources, the operatives raided the suspect’s residence at Sabon Gida village in Gassol Local Government Area of the state following actionable intelligence.

The sources disclosed that preliminary findings linked the suspect to the supply of 23 AK-47 rifles to a suspected rogue vigilante commander operating within the area.

The suspect has since been taken into custody by the Defence Intelligence Agency for further investigation and possible prosecution.

Security authorities said efforts were ongoing to uncover the wider arms trafficking network connected to the suspect.

Troops Arrest Suspected Gunrunner in Taraba Over Alleged Sale of 23 Rifles

Continue Reading

News

The High Cost of Silence: Why President Tinubu Must Sign the Federal Audit Service Bill

Published

on

The High Cost of Silence: Why President Tinubu Must Sign the Federal Audit Service Bill

By Paul Dasimeokuma

Nigeria currently manages a staggering ₦68.32 trillion budget through an audit framework that is effectively a colonial relic.

The Audit Ordinance of 1956, which remains the primary reference for federal audit reports, technically ceased to be part of Nigerian law in 1990 and is conspicuously absent from the 2004 Laws of the Federation of Nigeria (LFN).

This creates a legal lacuna, a dangerous, silent void where the nation’s financial watchdog is forced to bark using the authority of an obsolete law that has no place in a modern republic. As President Bola Ahmed Tinubu navigates the Renewed Hope agenda, the Federal Audit Service Bill, already passed by the National Assembly, represents a low-hanging fruit for structural reform that can no longer be ignored.

The current auditing function in Nigeria has devolved into a frustrating exercise in report writing without consequence. Under the present system, the Auditor-General for the Federation (AuGF) produces an annual report, which is then sent to the Public Accounts Committees (PACs) of the National Assembly.

The PACs conduct hearings, invite heads of agencies, and eventually produce their own recommendations. Yet, despite this high-level activity, the cycle of financial felonies and misdemeanors continues unabated.

Evidence shows that audit recommendations are treated with levity by Ministries, Departments, and Agencies (MDAs), and follow-ups are virtually non-existent despite clear Financial Regulations.

The result is a culture of impunity where the same infractions: unvouched expenditures, missing assets, and unremitted revenues—appear in reports decade after decade.

This Bill is the structural answer to this stagnation. It seeks to move Nigeria from a limited, department-based audit model to a modern Supreme Audit Institution (SAI) structure, consistent with global best practices. By transforming the office into a Service, the Bill ensures that auditing is a core pillar of national economic security.

The Bill provides for the establishment of an autonomous Federal Audit Service and a Federal Audit Board. This Board will fundamentally strengthen the independence of the AuGF, particularly concerning recruitment, promotion, and discipline.

Currently, the AuGF relies on the Federal Civil Service Commission for staffing, which often leads to a mismatch in specialised skills. An independent Board ensures the office is shielded from political interference and staffed by professionals answering only to the standards of their craft.

For the first time, the Bill explicitly empowers the AuGF with the power of the purse and the power of sanction. It authorises the AuGF to surcharge public officers for expenditures not duly brought into account and, more importantly, to withhold the emoluments of any person who refuses to reply to audit queries within 30 days. This closes the long-standing accountability gap where audit findings were merely advisory.

In the past, an MDA could simply ignore a query with no personal consequence. Under the new Bill, silence carries a direct financial penalty, providing the legal teeth necessary to compel compliance with financial discipline.
Beyond internal accountability, the Bill is a crucial signal to the international community.

Nigeria was successfully removed from the Financial Action Task Force (FATF) grey list in October 2025, a hard-won victory for the nation’s financial reputation. However, this victory must be protected. The FATF framework explicitly monitors audit oversight of public funds as part of its financial integrity assessments. Maintaining a 70-year-old framework that technically does not exist in our current laws risks signaling to global monitors that Nigeria’s anti-corruption reforms are superficial.

Similarly, the International Monetary Fund (IMF), in its June 2025 Article IV Consultation, called for strong expenditure management and transparent reporting. Assenting to this Bill is an act of economic diplomacy. It tells the World Bank and foreign investors that Nigeria is serious about the transparent implementation of its record-breaking budget.

It aligns the country with the Lima Declaration, which mandates that Supreme Audit Institutions must have the functional independence necessary to perform duties without executive overreach.

The reform window is rapidly closing. With the 2027 election cycle approaching, administrative bandwidth for such structural changes will contract. Transitioning from the 1956 framework and constituting the Federal Audit Board requires significant lead time.

Assent in 2026 gives this implementation a fighting chance to take root. President Tinubu has frequently spoken about the need for courage in governance. Signing the Federal Audit Service Bill is an act of such courage. Nigeria cannot build a 21st-century economy on 1950s paperwork. The time for the Audit Act is now.

Paul Dasimeokuma – Centre for Social Justice

The High Cost of Silence: Why President Tinubu Must Sign the Federal Audit Service Bill

Continue Reading

Trending

Verified by MonsterInsights