Business

Quality Products Would Reduce Nigeria’s Exports Reject – SGF Akume

Published

2 years ago

March 6, 2025

OCHEFA

592 Views

▪︎Picture : Dr. Maurice Mbaeri, PS, OSGF (left) in deep discussion with Osita Aboloma, Chairman/CE, NQC at the workshop on Sustainable Metrology Services in Nigeria. Others from left are Engr. Obiora Manafa, President, Metrology Society of Nigeria; Simeon Umukoro, Trade Market Access Lead at the UK Department for Business & Trade in Nigeria and Celestine Okanya, DG, Nigeria National Accreditation System.

The Federal Government of Nigeria has called on the organized private sector to consistently demand quality products and services from the public sector in order to foster a culture of quality across the country.

Senator George Akume, Secretary to the Government of the Federation, highlighted the importance of quality during a workshop on the Sustainable Provision of Metrology Services held in Lagos.

He emphasized that a strong demand for quality would enhance Nigeria’s ability to trade effectively on an international level, particularly in light of the African Continental Free Trade Area Agreement (AfCFTA) and the government’s economic diversification plans.

Represented by Dr. Maurice Mbaeri, the Permanent Secretary in the Office of the SGF, Akume pointed out that a more efficient National Quality Infrastructure, facilitated by the Nigerian National Quality Policy, would lead to increased non-oil exports, improved foreign exchange earnings, job creation, and overall economic growth.

He urged all stakeholders to actively support the implementation of the AfCFTA Digital Trade Protocol, following Nigeria’s recognition as the Digital Trade Champion for Africa at the recent African Union Assembly.

Osita Aboloma, Executive Chairman of the National Quality Council (NQC), reinforced the Council’s commitment to enhancing the National Quality Infrastructure, which would improve the competitiveness of Nigerian products and services. He remarked that the NQC’s efforts would help increase non-oil exports and reduce the country’s export rejects.

Support from the United Kingdom was acknowledged, particularly in relation to the Standards Partnership Programme (SPP), aimed at strengthening Nigeria’s quality infrastructure. Dr. Simeon Umukoro from the UK Department for Business and Trade reiterated the UK’s commitment to supporting Nigeria’s economic initiatives, highlighting that improved quality infrastructure would create new opportunities for innovation and competitiveness.

The partnership aims to elevate Nigeria’s export capacity, attract investment, and enhance trade efficiency in alignment with global standards and practices.

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Naira Rates To Dollar , Pound, EURO… Monday, October 5

Published

2 days ago

October 5, 2026

OCHEFA

32 Views

Black Market Exchange Rates

₦1365DOLLAR (USD)

₦1820POUND (GBP)

₦1535EURO (EUR)

₦970 CANADIAN DOLLAR (CAD)

₦65 SOUTH AFRICAN RAND (ZAR)

₦350 UAE DIRHAM (AED)

₦190 CHINESE YUAN (CNY)

₦100 GHANAIAN CEDI (GHS)

West African CFA ₦2300CFA

Central African CFA ₦2200

Australian Dollar currency ₦850AUSSIE (AUD)

Official CBN Exchange Rates

DOLLAR (USD)₦1330.10

POUND (GBP)₦1759.58

EURO (EUR)₦1496.76

SWISS FRANC (CHF)₦1605.62

JAPANESE YEN (JPN)₦8.45

CFA FRANC (XOF)₦2.29

WEST AFRICAN UNIT OF ACCOUNT (WAUA)₦1801.60

CHINESE YUAN (CNY) ₦198.39

SAUDI RIYAL (SAR)₦354.25

SOUTH AFRICAN RAND (ZAR)₦79.91

Business

Diesel Costs Bite: LAMATA Accelerates Shift To CNG, Electric Buses

The move comes as diesel prices have more than doubled, rising from about N950 per litre at the beginning of the year to between N1,950 and N2,100 per litre, depending on the source.

Published

2 days ago

October 4, 2026

OCHEFA

46 Views

Lagos is accelerating its transition away from diesel-powered public transport as the Lagos Metropolitan Area Transport Authority (LAMATA) begins phasing out diesel buses from its regulated fleet, amid a surge in diesel prices that has pushed operating costs sharply higher.

LAMATA is targeting clean-energy propulsion for 52 per cent of its Bus Rapid Transit (BRT) fleet by 2050, with compressed natural gas (CNG) and electric vehicles (EVs) taking the place of conventional diesel buses under a policy that took effect at the beginning of 2026.

The Managing Director and Chief Executive Officer of LAMATA, Mrs. Abimbola Akinajo, disclosed this weekend, during the handover of 20 additional high-capacity CNG buses under the Presidential Initiative on CNG and EVs.

The latest delivery brings LAMATA’s CNG fleet to about 170 buses, following the deployment of approximately 150 CNG buses before the new vehicles were received.

The authority also operates high-capacity and medium-capacity electric buses.

Akinajo said some of the new CNG buses would be deployed on the busy Ikorodu–Tafawa Balewa Square corridor, where passenger demand remains high.

“We will only work with CNG or EV buses, and this has been the policy since the beginning of the year,” she said.

The move comes as diesel prices have more than doubled, rising from about N950 per litre at the beginning of the year to between N1,950 and N2,100 per litre, depending on the source.

For LAMATA, the shift is therefore not only an environmental policy but also a cost-management strategy aimed at shielding commuters and transport operators from the impact of rising fuel expenses.

Akinajo said regulated public transport fares had not been increased, partly because the lower operating costs of CNG and electric buses were helping to contain the pressure on operators.

“Regulated public transport fares have not increased, and these buses have helped us achieve that,” she said.

Diesel phase-outUnder the new policy, existing diesel-powered buses in the regulated system will be progressively replaced with CNG and electric alternatives.

Akinajo said the long-term direction was for the regulated system to ultimately operate an entirely electric fleet, while the broader clean-energy target provides a pathway towards reducing emissions from Lagos’ transportation sector.

Transportation remains a major source of emissions in the megacity, making the switch to cleaner buses a key component of Lagos State’s long-term ambition of achieving net-zero emissions by 2050.