Business
MAN, NECA Seeks Governor Sanwo-Olu’s Intervention over Factories Shutdown by LASWARCO

The Manufacturers Association of Nigeria (MAN) is imploring the Governor of Lagos State, Babajide Sanwo-Olu, to use his good office to order the immediate reopening of the closed factories of Nigerian Bottling Company, Friesland Campina, and Guinness Nigeria Plc by the Lagos State Water Regulatory Commission (LASWARCO).
This is even as the Nigeria Employers’ Consultative Association (NECA) condemned the regulatory actions by LASWARCO, warning that it is capable of scaring potential investors away from the state.
In an open message to Governor Sanwo-Olu today, Segun Ajayi-Kadir, the Director-General of MAN, said that the association is constrained to convey this open message to the Governor of Lagos State, as all attempts at approaching the relevant heads of agencies and ministry have failed.
He said: “MAN is appalled by the inauspicious act of sealing factories over their purported refusal to pay the astronomical and unjustifiable water abstraction fees imposed by the Commission.
This action is ill-timed and quite unfortunate, as the Commission and MAN had engaged in meaningful dialogue and reached some agreements over the lingering issue about three months ago.
This was expected to culminate in an MoU to commence in January 2025. Only three weeks ago, another round of discussions took place between LASWARCO and representatives of MAN, including the affected member companies, which led to ongoing discussions in the companies as to the most viable option for addressing the alleged outstanding payments from earlier contested fees.
It was while these discussions were going on and during the Yuletide that the Commission decided to cause this major and unwise shutdown of the companies.
It is important to properly situate this inappropriate action within the context of the prevailing inclement operating environment in general and the downturn in the manufacturing sector in particular.
A situation where industries are burdened with payments above N100 million for generating water for production purposes, in the face of the government’s failure to supply the same, is unfair.
The exorbitant fees and the untoward means of extracting payment exemplify the negative impact of the tyranny of regulation on private business.
To date, manufacturers across the country are saddled with more than N1.2 billion of unsold inventory, borrowing at more than 30 percent and struggling under a debilitating 250 percent increase in the cost of power.
Numerous taxes, fees, and levies by the three tiers of government and non-state actors in some cases, numbering between 60 to 120, confront each manufacturer, not to mention the disruption of production activities due to insecurity and the high cost of logistics.
There are more! So to add this oppressive water abstraction fee in Lagos state that may potentially be adopted by other States presents an ominous and rancorous future for manufacturers in particular and private businesses in general.
MAN, therefore, implores the Governor of Lagos state to use his good office to order the immediate reopening of the closed factories.
This will pave the way for a logical and passable conclusion of the ongoing conversations on how to permanently resolve the matter of outstanding fees, as well as conclude the impending MoU between the Water Commission and the Organised Private Sector.
This is more so that the private sector is currently awaiting the finalization of the text of the MoU from LASWARCO. We are full of expectations that immediate action is taken in the interest of the state’s economy and to forestall a possible degeneration in the already tense business atmosphere.
The possible loss of jobs and its attendant socioeconomic implications, as well as the negative signal to the investing public, should serve as a deterrent and encourage a business-friendly regulatory environment.”
NECA’s Director-General, Mr Adewale-Smatt Oyerinde, appealed to Governor Babajide Sanwo-Olu to intervene in the matter to save businesses in Lagos from further woes.
The director-general emphasized that organized businesses are not against responsible regulations.
He, however, noted that in the quest for revenue generation, the LASWARCO and, indeed, all other regulatory agencies should adopt a more legitimate and civil approach rather than the predominant disruptive pattern of recent times.
“Those patterns are directly against the efforts of the Federal Government to attract investment, promote job creation, and facilitate responsible regulations,” Oyerinde said.
Oyerinde described the demand for unjustifiable multimillion sums as water abstraction levies from businesses that had already paid many other forms of taxes for the same activities they use the water for as unreasonable.
“May we reiterate that it is the responsibility of the government to provide water for its citizens and businesses,” he said.
He noted that the government was not currently fulfilling this noble responsibility. “
It will be highly insensitive, harsh, and punitive for the same government that has failed to adequately provide water to also impose punitive levies on businesses that are constrained to make investments in providing water to run their businesses,” he said.

The Dangote Petroleum Refinery and Petrochemicals has appointed David Bird, the former head of Oman’s Duqm Refinery, as its new Chief Executive Officer.
A report by S&P global on Friday said, Bird heads the refinery’s petroleum and petrochemicals division in a strategic move to overcome production challenges and advance its next wave of expansion.
Effective from July 2025, the former Shell head of operations at its Balau Pokom refinery stepped in as CEO of the Dangote Group’s fuels and petrochemicals business, which commissioned the world’s largest single-train refinery last year.
The CEO participated at the just concluded Dangote Leadership Development Program Graduation Ceremony.
Business
Trump Imposes 15% tariff on Nigerian Imports
Under the revised tariff schedule:15% tariffs now apply to Nigeria, Angola, Ghana, South Korea, Turkey, Japan, Israel, Norway, and several others.10% tariffs target countries such as the Falkland Islands, the United Kingdom, and others not explicitly listed.

US President Donald Trump has approved a 15 percent import tariff on Nigeria and dozens of other countries.
The White House announced the implementation of the new reciprocal tariff rates on Thursday.
In April, Trump imposed a 14% tariff on Nigerian imports, citing the need for fairer trade terms.
That move was followed by a 90 – day grace period to allow time for bilateral trade negotiations, pushing the final decision deadline to August 1.
However, the majority of talks failed to result in new trade agreements.
As a result, the new tariff rates are now being implemented, with Nigeria among dozens of countries facing increased duties under the revised plan.
African countries, including Nigeria, were unable to secure individual trade deals with the United States despite urgent efforts from both sides.
During the negotiation window, Trump also reintroduced travel restrictions targeting several African nations. Though Nigeria was initially exempt, it was later added to the list as the policy evolved.
Under the revised tariff schedule:15% tariffs now apply to Nigeria, Angola, Ghana, South Korea, Turkey, Japan, Israel, Norway, and several others.10% tariffs target countries such as the Falkland Islands, the United Kingdom, and others not explicitly listed.
Tariffs climb to 18% for Nicaragua, 19% for countries like Indonesia and Pakistan, and 20% for countries like Indonesia and Pakistan, and 20% for Bangladesh, Vietnam, and others.
10% tariffs target countries such as the Falkland Islands, the United Kingdom, and others not explicitly listed.Tariffs climb to 18% for Nicaragua, 19% for countries like Indonesia and Pakistan, and 20% for Bangladesh, Vietnam, and others.
More severe penalties include 25–41% tariffs for countries like India, South Africa, Iraq, and Syria.
Switzerland faces a steep 39% duty, while Laos and Myanmar are hit with 40%.Syria tops the list at 41%.
Meanwhile, negotiations are still ongoing with China, Washington’s main trade rival.
Canada is facing a 35% tariff, while Mexico was hit with a trio of levies, including a 50% duty on metals. Brazil, previously under a 10% tariff, was slapped with an additional 40% charge on Thursday, bringing its total to 50%.
Business
EU accuses online giant Temu of selling ‘illegal’ products
EU regulators believe Temu is not doing enough to protect European consumers from dangerous products and that it may not be acting sufficiently to mitigate risks to users.

The European Union accused Chinese-founded online shopping giant Temu on Monday of breaking the bloc’s digital rules by not “properly” assessing the risks of illegal products.
AFP reports that TEMU, wildly popular in the European Union despite only having entered the continent’s market in 2023, Temu has 93.7 million average monthly active users in the 27- country bloc.
EU regulators believe Temu is not doing enough to protect European consumers from dangerous products and that it may not be acting sufficiently to mitigate risks to users.
Evidence showed that there is a high risk for consumers in the EU to encounter illegal products on the platform,” the European Commission said in its preliminary finding.
It pointed to a mystery shopping exercise that found consumers were “very likely to find non-compliant products among the offer, such as baby toys and small electronics.”
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