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.
Business
FG flags off CNG mother station for SS, SE in Akwa Ibom
CNG is not only cost-effective but also environmentally friendly, offering a real solution to reducing carbon emissions.

The Minister of State for Petroleum Resources (Gas), Dr. Ekperikpe Ekpo, has performed the groundbreaking of Guelph Gas Limited’s Compressed Natural Gas, CNG, mother station in Ibesikpo, Akwa Ibom State.
Sweetcrudereports, reported that the project, with a processing capacity of 3 million standard cubic feet per day, is aimed at supplying CNG to commercial and industrial users in the South-South and South-East regions not currently connected to Nigeria’s gas pipeline network.
Describing the project as a landmark development in Nigeria’s gas revolution, Dr. Ekpo said the initiative represents a strategic shift toward cleaner, more accessible energy sources for underserved regions.
This CNG project is a clear example of how our nation can leverage its vast natural gas resources to fuel a cleaner and more prosperous future.
CNG is not only cost-effective but also environmentally friendly, offering a real solution to reducing carbon emissions, ”the minister said during the ceremony.
Ekpo, who hails from Akwa Ibom, commended the state government’s proactive investment climate under Governor Umo Eno.
“As an indigene of Akwa Ibom, I take pride in the commitment of the government and people of the state to fostering growth and innovation.
Governor Umo Eno has created a supportive environment for investments that stimulate economic development and generate job opportunities for our citizens.
”The CNG mother station, once completed, is expected to serve as a central hub for compressed gas delivery across the two geopolitical zones, supporting the Federal Government’s Decade of Gas initiative and contributing to Nigeria’s energy transition.”
Business
PwC shuts operations in nine African countries
The decision came due to mounting differences with local partners, who said they lost over a third of their business in recent years after pressure from PwC’s global executives to drop risky clients.

(Reuters): PwC shut operations in nine Sub-Saharan African countries last month following a strategic review, the Big Four accounting firm said, in response to a media report that said the company exited over a dozen countries to avoid scandals.
PwC, which operates as a global network of locally owned partnerships, has shut operations in the Ivory Coast, Gabon, Cameroon, Madagascar, Senegal, the Democratic Republic of Congo (DRC), Congo Republic, Republic of Guinea and Equatorial Guinea, it said in a statement, opens new tab published on its website on March 31.
The accounting firm directed Reuters to the statement in response to queries on a Financial Times article published earlier in the day that said PwC had exited multiple countries that were deemed too small, risky or unprofitable.
The decision came due to mounting differences with local partners, who said they lost over a third of their business in recent years after pressure from PwC’s global executives to drop risky clients, the FT said, citing people familiar with the matter.
Story and Image credit: Reuters
Business
WTO slashes 2025 trade growth forecast, warns of deeper slump
“I’m very concerned, the contraction in global merchandise trade growth is of big concern,” WTO Director General Ngozi Okonjo-Iweala told reporters in Geneva.

(Reuters): The World Trade Organization sharply cut its forecast for global merchandise trade from solid growth to a decline on Wednesday, saying further U.S. tariffs and spillover effects could lead to the heaviest slump since the height of the COVID pandemic.
The WTO said it expected trade in goods to fall by 0.2% this year, down from its expectation in October of 3.0% expansion.
It said its new estimate was based on measures in place at the start of this week.
“I’m very concerned, the contraction in global merchandise trade growth is of big concern,” WTO Director General Ngozi Okonjo-Iweala told reporters in Geneva.
U.S. President Donald Trump imposed extra duties on steel and car imports as well as more sweeping global tariffs before unexpectedly pausing higher duties on a dozen economies.
His trade war with China has also intensified with tit-for-tat exchanges pushing levies on each other’s imports beyond 100%.
The WTO said that, if Trump reintroduced the full rates of his broader tariffs that would reduce goods trade growth by 0.6 percentage points, with another 0.8 point cut due to spillover effects beyond U.S.-linked trade.
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