By Rukayat Moisemhe
Lagos, Dec. 29, 2020 Like many governments, the Nigerian government has identified industrialisation as the tool to generate tangible non-oil revenue, increase employment opportunities, and contribute maximally to GDP.
As part of government’s efforts at engendering sustainable economic recovery, some fiscal and monetary policies were rolled out, particularly to benefit Micro, Small and Medium Enterprises.
In spite of the policies, the manufacturing sector contracted by 0.43 per cent in the first quarter of 2020; by -8.78 per cent in the second quarter and by -1.51 per cent in the third quarter of the year.
Dr Muda Yusuf, Director-General, Lagos Chamber of Commerce and Industry listed the major challenges faced by the business community in the outgoing year to include liquidity crisis in the foreign exchange market, sharp exchange rate depreciation, high energy and production cost.
Strides in convention against corruption
Justice Loyce Matanda Moyo
ON Wednesday December 9, 2020, Zimbabwe joined the entire world in commemorating the International Anti-Corruption Day. Having noted that corruption is among the greatest threats that the world is facing, the General Assembly of the United Nations adopted the United Nations Convention Against Corruption (UNCAC) on October 31, 2003. Following a resolution passed by the United Nations General Assembly, December 9 was set aside as the International Anti-Corruption Day. This memorable day is dedicated to raising awareness on corruption and the role of the Convention in combating and preventing the scourge.
It is estimated that the world is losing a staggering US$$3,6 trillion to corruption. This is a sum of money that could have been channelled towards economic development and the betterment of livelihoods.
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Daniel Kiptoo Bargoria appointed as the Acting Director General of EPRA
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The Energy and Petroleum Regulatory Authority (EPRA) has announced that it has appointed Daniel Kiptoo Bargoria as the Acting Director General effective immediately.
The previous Director General Robert Pavel Oimeke was Thursday 10 December 2020 arrested by the Ethics and Anti-Corruption Commission on allegations of bribery. He was held in custody and later released on police bond, as the Anti-Corruption agency concludes its investigation.
Following communication from the Ethics and Anti-Corruption Commission, the EPRA Board has today jointly decided to interdict Mr. Oimeke as Director General of the company. Further, the board has appointed Mr. Daniel Kiptoo Bargoria as the Acting Director General, on recommendation of Cabinet Secretary for Energy.