Connect with us

Economy

NEPC Unveils Global Certification for Food Exports

Published

on

Container Shipping
  • NEPC Unveils Global Certification for Food Exports

The Nigerian Exports Promotion Council has drawn the attention of exporters to the certification that is needed to export food products to the global market.

The certification, Hazard Analysis Critical Control Point, is required to penetrate the international market for processed value-added products, particularly food items.

During a one-day awareness training programme on HACCP in Lagos on Tuesday, the Executive Director and Chief Executive Officer, NEPC, Mr Segun Awolowo, who was represented by the Director, Product Department, NEPC, Mr William Ezeagu, stressed the competitive nature of the global market, saying that to compete, exportable food products needed to strive to acquire additional non-mandatory certifications.

He said, “Non-mandatory certifications (example, ISO, HACCP, Good Manufacturing Practises, etc.,) are global certifications, trusted by consumers and end-users of products and services, and are attained, based on the reputation of the certifying bodies.”

According to him, the HACCP system, which is science-based and systematic, identifies specific hazards and measures for their control to ensure the safety of food.

“HACCP is a tool to assess hazards and establish control systems that focus on prevention rather than relying mainly on end-product testing.

“HACCP is important because it prioritises and controls potential hazards in food processes. By controlling major food risks, such as microbiological, chemical and physical contaminants, the industry can better assure consumers that its products are as safe and as good as science and technology allow.”

The council listed the advantages of HACCP and other food safety certifications to include compliance with customer and applicable regulatory requirements, an effective quality system recognition, provision of competitive advantage, improvement in product and company’s image, enhancing the reputation of the company, and increased revenue generation through increased sales.

A global certification body, Indian-based TopCertifier, was engaged to train selected food processors and exporters on the HACCP certification.

NEPC said this would enable them to embrace the basic rudiments of food safety for their products.

“I must say this is the first time in Nigeria that our exporters are given this rare opportunity,” Awolowo said.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market.

Continue Reading
Comments

Economy

Illegal Withdrawals: Rep To Investigate NNPC, NLNG Over $1.05bn

Published

on

House of representatives

Rep To Investigate NNPC, NLNG Over Illegal Withdrawal of $1.05bn from NLNG Account

The Nigerian House of Representatives has concluded plans to investigate illegal withdrawal of $1.05 billion from the account of the Nigerian Liquefied Natural Gas Limited (NLNG) by the Nigerian National Petroleum Corporation (NNPC).

The decision followed the adoption of a motion titled ‘Need to Investigate the Illegal Withdrawals from the NLNG Dividends Account by the Management of NNPC’ moved by the Minority Leader, Ndudi Elumelu, on Tuesday.

The House adopted the motion and mandated its Committee on Public Accounts to “invite the management of the NNPC as well as that of the NLNG, to conduct a thorough investigation on activities that have taken place on the dividends account and report back to the House in four weeks.”

Elumelu said, “The House is aware that the dividends from the NLNG are supposed to be paid into the Consolidated Revenue Funds account of the Federal Government and to be shared amongst the three tiers of government.

“The House is worried that the NNPC, which represents the government of Nigeria on the board of the NLNG, had unilaterally, without the required consultations with states and the mandatory appropriation from the National Assembly, illegally tampered with the funds at the NLNG dividends account to the tune of $1.05bn, thereby violating the nation’s appropriation law.

“The House is disturbed that there was no transparency in this extra-budgetary spending, as only the Group Managing Director and the corporation’s Chief Financial Officer had the knowledge of how the $1.05bn was spent.

“The House is concerned that there are no records showing the audit and recovery of accrued funds from the NLNG by the Office of the Auditor-General of the Federation, hence the need for a thorough investigation of the activities on the NLNG dividends account.”

Continue Reading

Economy

FG Gives Radio, Tv Stations Debt Relief, Writes Off 60 Percent Debt

Published

on

TSTV

FG Reduces Tv, Radio Stations Licence Fee by 30%, Writes Off 60% Debt

The Federal Government has reduced the existing licence fee paid by all open terrestrial radio and television stations by 30 percent.

The Minister of Information and Culture, Lai Mohammed, disclosed this at a press conference in Abuja on Monday.

He said the Federal Government has also decided to write off 60 percent of the N7 billion loan owed the government by television and radio stations.

He explained that the N7 billion is the total outstanding from television and radio stations on the renewal of their operating licences.

Mohammed, however, said for any station to benefit from the 60 percent debt relief, such a station must be ready and willing to pay the remaining 40 percent within the next three months.

According to him, the debt relief offer would open on July 10th and close on the 6th of October.

Mohammed said, “According to the NBC, many Nigerian radio and television stations remain indebted to the Federal Government to the tune of N7bn.

“Also, many of the stations are faced with the reality that their licences will not be renewed, in view of their indebtedness.

“Against this background, the management of the NBC has therefore recommended, and the Federal Government has accepted, the following measures to revamp the broadcast industry and to help reposition it for the challenges of business, post-COVID-19:

“(a) 60 per cent debt forgiveness for all debtor broadcast stations in the country; (b) the criterion for enjoying the debt forgiveness is for debtor stations to pay 40 per cent of their existing debt within the next three months.

“(c) Any station that is unable to pay the balance of 40 per cent indebtedness within the three-month window shall forfeit the opportunity to enjoy the stated debt forgiveness.

“(d) The existing license fee is further discounted by 30 per cent for all open terrestrial radio and television services effective July 10, 2020.

“(e) The debt forgiveness shall apply to functional licensed terrestrial radio and television stations only. (f) The debt forgiveness and discount shall not apply to pay TV service operators in Nigeria.”

Continue Reading

Economy

Nigeria’s Inflation to Average 12.2 Percent in 2020 Says PwC

Published

on

Inflation

PwC Says Inflation Will Average 12.2% in 2020

PricewaterhouseCoopers (PwC) has predicted that the nation’s inflation rate will average 12.2 percent in 2020.

In the report titled ‘Demand and supply shocks from COVID-19 keep inflation higher for longer’, the company based its projection on the rising cost of goods and services due to the supply shocks to commodity and the COVID-19 negative impacts on the economy.

The report explained that the supply disruption brought about by lockdown measures put in place to mitigate COVID-19 spread pushed headline inflation to its highest in 23 months in the month of May 2020.

Nigeria’s headline inflation rose by 12.4 percent year-on-year in the month of May. Its fastest pace of increase in 26 months, according to the National Bureau of Statistics (NBS).

However, PwC said because of the growing global uncertainty due to the projected second wave of COVID-19 and declining household incomes, headline inflation will increase from the average of 11.4 percent recorded in 2019 to average 12.2 percent in 2020.

“Barring a second wave of the pandemic, which could further threaten outlook for global economic growth, coupled with the absence of major shocks to food supply in Nigeria, inflation outlook for rest of the year could be influenced by two factors. Firstly, the elevated base effect, and secondly, waning household incomes. The first factor is likely to have a greater impact.”

Continue Reading
Advertisement
Advertisement
Advertisement
Advertisement

Trending