The
racle
The Oracle SEPTEMBER 2, 2016
VOX POPULI SACRUM
www.oraclenews.ng
WEDNESDAY JUNE 28, 2017
ISSN: 2545-5869
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Today Today
VOL.2 No. 27. N200
Europe may ban Nigeria • Exports to EU threatened as Economic Partnership Agreements remain un-ratified • Export Promotion not aware of non-ratification of Agreements
Can’t Osinbajo punish those who minimise his authority? – Page 24 Atiku urged to contest presidency in 2019 • Governor Willie Obiano of Anambra State unveiling the 50th birthday anniversary cake of the Anglican Bishop of the Diocese on the Niger, Rt. Rev. Owen Nwokolo, at the Basilica of St. Andrew, Onitsha. PHOTO: Modestus Igudobi. From SOPURUCHI ONWUKA, Lagos
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NLESS Nigeria takes immediate steps to ratify its Economic Partnership Agreements (EPAs) with industrialized nations of Europe, it may be unable to enjoy the benefits of such partnerships in terms of exports to Europe and inflow of foreign direct investments needed to stimulate rapid economic development. The current administration of the federal government must, therefore, ratify the Economic Partnership Agreements (EPAs) with Europe in order to enjoy the advantages of such agreements. Eminent economist and protrade activist, Mr. Chinyemike Torti, who advanced policy alternatives to the popular Nigerian Content policy, which prohibits use of foreign products in the country, declared that the country must not operate as an island in a
global market environment. In a policy advocacy document available to The Oracle Today, Torti emphasized the need for the country to plug into global trade channels to offset the deleterious effects of its hostile business environment characterized by infrastructural deficits, capacity sub-optimization, brain-drain and acute supply gaps for the basic needs of its over 170 million population. Torti’s warning came even as sources at the Export Promotion Council (EPC), Abuja told The Oracle Today they are not aware the nation has not ratified some of the Agreements in question. The shortfalls in the nation’s supply of basic commodity needs, according to Torti, must be met by plugging into the global highway for flow of goods and services. He said Nigeria must create platforms for export of goods and services in order to maximize the op-
portunities provided in multilateral trade agreements that valorize its human and material resources and thin down her deficits in the global balance of payment, an opportunity which the Economic Partnership Agreements (EPAs) provide. He pointed out that countries that develop reform and services trade policies and key them into WTO type international trade commitments, rake in huge incomes from diaspora earnings like the India software engineers who are reputed to be scooping over 10billion dollars annually but also attract foreign direct investments that will reverse the decline and rot of infrastructures like transport, education, aviation; shipping, health, financial, insurance and others. Mr. Torti’s policy option comes in recognition of Nigeria’s local content policy, which emphasizes
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New twist to quit notice
• As Arewa Youths ask Osinbajo to let Ndigbo go • Northern elders want war, not peaceful dissolution • More citizens condemn Youths, Northern Elders From SOPURUCHI ONWUKA (Lagos) and IBE NWACHUKWU (Onitsha)
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twist to the saga with the Northern Youths asking Ag. President Professor Yemi Osinbajo, SAN, to initiate measures that would facilitate the exit of Ndigbo from the Nigerian union via a referendum. In a letter signed by five of the leaders of the groups, including Alhaji Shettima Yerima of Arewa Youths Consultative Forum (AYF); Joshua Viashman (Northern Youth
ARELY 100 days to the October 1, 2017 deadline given to Ndigbo resident in all the 19 northern states of the country to quit, more reactions have continued to trail the quit notice issued by the Coalition of Northern Youths The fresh reactions are coming against the backdrop of a new Cont’d on Page 2
Okenwa, passage of political Icon
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