Nigerian Government to set-up committee for implementation of AfCFTA Agreement

Following the signing of the AfCFTA Agreement, President Buhari has approved the establishment of a National Action Committee (NAC) for implementation of the AfCFTA Agreement.

The Committee will be comprised of representatives of Ministries and Agencies with competent and relevant jurisdiction, and selected stakeholder groups from the private sector and the civil society to coordinate the implementation of all the AfCFTA readiness interventions. The Committee will undertake a process of engagement with stakeholders to sensitize them on the opportunities and challenges of the AfCFTA, with preparedness plans for the Nigerian economy.

Upon ratification, Nigeria will domesticate the Agreement by incorporating it into existing laws or enacting new laws, as appropriate engagement shall shortly start with the Ninth National Assembly. On the list of the President’s approval are: fast-tracking domestic work, for the implementation of AfCFTA readiness interventions to enhance productivity, competitiveness and facilitate trade which includes policies to grow local capacity to produce and export goods and services; infrastructure projects, trade facilitation, ease of doing business and trade rules enforcement initiatives. And support, actively, Micro- Small and Medium Enterprises.

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Singapore; the world’s most competitive economy

 

For the first time in nine years, Singapore surpassed the United States and Hong Kong to clinch the title of the world’s most competitive economy, according to annual rankings compiled by Switzerland-based business school IMD.

In the decades after independence, Singapore rapidly developed from a low-income country to a high-income country. The overall growth of the Singapore economy was 3.2% in 2018 and Singapore had been following a simple recipe for competitiveness. Some considered Singapore to be a developed country, the fact is that Singapore is still a developing country, albeit a more advanced one, Singapore lacks depth in R&D and other capabilities that will ensure continued demand for our goods and services.

Singapore’s immigration laws, advanced technological infrastructure, availability of skilled labour and efficient ways to set up new businesses helped it advance to the top, IMD’s 2019 World Competitiveness Rankings found.

If expatriates have a housing allowance in Singapore they will live comfortably. Otherwise, it can become quite expensive. Singapore is one of the world’s most expensive cities

The top 10 economies by competitiveness. According to IMD: Singapore, Hong Kong SAR, USA, Switzerland, UAE, Netherlands, Ireland, Denmark, Sweden and Qatar.

 

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Nigeria installed 10 Megawatts (MW) Independent Power Plant for the Nnamdi Azikiwe International Airport, Abuja

 

The federal government has installed a 10 Megawatts (MW) Independent Power Plant for the Nnamdi Azikiwe International Airport, Abuja to complement the power needs of the airport, the power plant was a response to the deficiency identified with the new international terminal of the airport, in which the government engaged the independent power provider to address the challenge.

The plant consisted of eight generators, generating one megawatt of electricity each and the plant is powered by MTM Engine which is one of the most efficient engines in the world and will ensure 100% power supply to the airport, the plant would meet the power need of the new terminal to make it run efficiently and independent of Abuja Electricity Distribution Company (AEDC).

As the government is upgrading the airports across the country, then we should look forward to having a national carrier, I totally disagree with those who argued that Nigeria doesn’t need a national carrier or until Nigeria have facilities before thinking of a national carrier. The newly built terminal 3 at the Kotoka International Airport in Ghana was flooded with rainwater on Monday, despite that Ghana wants to acquire aircraft from either Airbus Company or Boeing and then followed by the registration processes.

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Emirates plans to grow operations in Africa as growth outperform other markets

Emirates Airline has said it sees potential for growth in Africa, with plans to increase its frequencies to some destinations including Morocco, Ghana, Senegal, Egypt, and South Africa.

Orhan Abbas, senior vice-president of commercial operations in Africa for Emirates, said Africa has been one of the strong performing markets for the carrier over the past two years, even amid challenges.

In the year ending March 31, 2019, Emirates saw a 9 per cent rise year-on-year in revenues from its operations to and from Africa, with the region registering the strongest growth compared to other markets.

The second largest growing markets in terms of revenues were the Americas, at 8 per cent, followed by Europe at 6 per cent.

Abbas said the growth in travel into and out of Africa stems from various sectors including leisure, business travel, trade, and religious travel especially for Hajj and Umrah from West Africa.

Read more …https://lnkd.in/dbZfHUa

Mark-Anthony Johnson, CEO at JIC Holdings.

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Uganda Airlines set to  begin operation soon after 18 years

Ugandan state owned airline is set to start commercial flights by July, and two more bombardier planes are to be added to the fleet later this year. After President Yoweri Museveni has received two Bombardier CRJ900 jets from Canada at Entebbe International Airport.

Due to the arrival of the new planes, with the words Ugandan Airlines on the sides of the aircraft marks the official comeback for the East African country’s national carrier, which  was grounded since 2001.

The government of Uganda has hope that, the revival of the national carrier will help the economy and boost tourism.

 

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