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How Singapore sidelined China as Nigeria’s top trading partner

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Singapore has overtaken China as Nigeria’s top import partner for the first time in at least 16 years, a BusinessDay analysis of the latest foreign trade data shows.

The report from the National Bureau of Statistics (NBS) shows that Nigeria imported goods worth N5.09 trillion from Singapore in the fourth quarter of last year which constituted 36.1 percent of total imports (N14.1 trillion).

“Manufactured goods mainly imported were ‘Tanks and other armoured fighting vehicles, motorised, whet’ from Singapore valued at N5,06 trillion followed by ‘Used Vehicles, with diesel or semidiesel engine, of cylinder capacity >2500cc’ also imported from the US and Italy valued at N94.3 billion and N6.69 billion respectively,” the report said.

It said the value of total imports stood at N14.1 trillion in Q4 which represents an increase of 56.0 percent compared with the value recorded in Q3 (N9.04 trillion) and by 163.1 percent compared to the value recorded in Q4 2022 (N5.36 trillion).

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“The increase in import was largely due to the import of ‘tanks and other armoured fighting vehicles, motorised, whet’ worth N5.06 trillion.”

Experts say Singapore being the country’s top import partner is a one-time thing and that China would return as Nigeria’s top importer due to its reliance on Chinese products.

“Insecurity may have influenced this shift. The country importing military equipment from Singapore might have been more cost-effective for them due to ongoing security challenges,” Adeola Adenikinju, president of Nigerian Economic Society, said.

He said China is likely to reclaim its position as Nigeria’s top importer due to its significant manufacturing output.

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“Consumer goods rank highest in terms of raw materials, with many capital goods still originating from China. Therefore, China is expected to return as Nigeria’s primary trading partner for the foreseeable future,” Adenikinju added.

Isreal Odubola, a Lagos-based economist, said the trend is not surprising given that Singapore is another manufacturing giant.

“While we cannot confirm whether Singapore has ‘actually’ overtaken China as Nigeria’s largest import partner, data points for the next two quarters will give a clue,” he added.

BusinessDay reported on Monday that Nigeria’s trade surplus shrank by 99.7 percent last year as imports surged to the highest since the NBS started collating foreign trade data.

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Gov Zulum accuses security personnel of promoting criminality, bans dale of alcohol

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Borno State Governor, Professor Babagana Zulum, has banned the sale of alcoholic beverages while accusing military and other security personnel of promoting criminality and antisocial vices in Maiduguri and its environs.

The Governor said that ex and current serving personnel of the Nigerian security forces have played a significant role in influencing the civilian populace into criminality, radicalism, prostitution and other vices, heightening terrorism threats in the state.

The governor said this on Tuesday at the inauguration of a reconstituted committee on “revocation of illegal hotels, brothels, shanties, and criminal hideouts and curbing the menace of antisocial vices” at the council chambers of the government house in Maiduguri.

“I am happy to know that army officers are here, especially the military, police, and others are here because most of these activities were committed by whom? Some of them are dismissed army officers, dismissed security officers, current army officers, men and officers, including civilians.

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“So, there should be no sacred cow in this matter if we want the Maiduguri metropolis and indeed the state to get rid of insurgency, terrorism and other sorts of criminalities,” Zulum said.

In the brief event, the Zulum reconstituted and re-empowered the committee to purge the state of all forms of criminality and antisocial vices in the Maiduguri metropolis and surrounding environments.

The ban on sales and consumption of liquor and alcoholic contents, according to the governor, stems from the rising cases of clashes among rival groups, cultism, prostitution, drug abuse, thuggery and theft, which have led to loss of lives and valuables.

The governor co-opted the military, police, civil defence, and several other security agencies, including the civilian JTF, to join the committee for a holistic approach.

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Acknowledging the task before the reconstituted committee, the co-chair decried the deteriorating internal security in Maiduguri and outlined the committee’s immediate line of action.

With the liquor embargo and the demolition of hotels and infrastructures identified as harbouring criminal activities, it is yet to be seen if this decision will affect internal revenue in the state amidst the controversies surrounding the tax reform bill before the national assembly, which the Borno State Governor and notable leaders from the state have championed.

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FG starts massive overhaul of NYSC scheme, plans teachers’, medical corps

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The Federal Government has set up a committee to carry out major changes to the National Youth Service Corps.

This decision followed rising concerns about the safety of corps members, poor facilities, and whether the NYSC still fits into today’s social and economic realities.

The inauguration of the committee happened in Abuja on Tuesday, with key people from government, civil society, and private businesses in attendance.

Speaking at the event, the Minister of Youth Development, Ayodele Olawande, said the NYSC has played an important role in building national unity and helping young people since 1973.

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He said, “The issues of corps members’ safety, infrastructural challenges, and the broader question of the scheme’s relevance in an increasingly dynamic socio-economic environment are among the key concerns. However, these challenges also present opportunities that require urgent, visionary, and determined action.”

Olawande said the committee will look into how NYSC works and suggest ways to make it safer, more creative, and more impactful.

“The outcome of this review must align with broader national development objectives, positioning the NYSC as a strategic tool for youth empowerment and nation-building,” he added.

The committee will review current NYSC policies, talk to people across the country and suggest changes to laws, policies, and how the scheme is run.

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It will also come up with better ways to fund, track and improve the NYSC.

The final report will be submitted to the minister within a set time.

Also at the event, the Minister of Education, Maruf Tunji Alausa, said the government planned to start a Teachers’ Corps and a Medical Corps.

These will be for NCE graduates and healthcare workers ready to serve in rural areas.

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Alausa explained, “The Teachers’ Corps would help bridge educational gaps and create a pathway to government employment, while the Medical Corps would strengthen healthcare delivery in underserved areas, addressing critical issues such as maternal and child health.”

The Special Adviser to the President on Policy and Coordination, Hadiza Usman, stressed the need to improve technical and vocational skills training.

“Such alignment would empower young people to make meaningful, long-term contributions to their communities and to the nation as a whole,” Usman said.

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Real cause of Herbert Wigwe’s helicopter crash revealed

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The United States National Transportation Safety Board (NTSB) has concluded its investigation into the helicopter crash that tragically killed former Access Holdings Plc CEO, Herbert Wigwe, and his family last year.

The crash, which occurred on February 9, 2024, in California near the Nevada border, claimed the lives of Wigwe, his wife Doreen, their son Chizi, and the former group chairman of Nigerian Exchange Group Plc (NGX Group), Abimbola Ogunbanjo.

In the final report, the NTSB stated that the probable cause of the crash was the pilot’s decision to continue the flight under visual flight rules (VFR) into instrument meteorological conditions (IMC).

The NTSB explained that the pilot likely experienced spatial disorientation while manoeuvring the helicopter in poor visibility conditions, leading to the loss of control and a fatal collision with terrain.

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The investigation further revealed that the helicopter company’s inadequate oversight of its safety management processes contributed to the incident.

The NTSB found that the helicopter company failed to ensure that its pilots accurately completed and updated flight risk analyses, logged maintenance discrepancies, and adhered to Part 135 regulations before departure. These failures were critical in the chain of events that led to the crash.

The report also indicated that during the return flight, the pilot had communicated with the director of maintenance (DOM) via text message about an issue with the radar altimeter, further highlighting lapses in safety protocols.

The report reads, “The National Transportation Safety Board (NTSB) determines the probable cause of this accident to be: The pilot’s decision to continue the visual flight rules flight into instrument meteorological conditions, which resulted in the pilot’s spatial disorientation and loss of control.

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“Contributing to the accident was the company’s inadequate oversight of its safety management processes, including ensuring the pilots were accurately completing and updating the flight risk analysis, logging maintenance discrepancies, and ensuring the helicopter met Part 135 regulations before departure.

“During the return flight, the pilot texted the director of maintenance (DOM) about the issue. After arriving at the company’s flight operations base, the pilot discussed the issue with the company flight follower (who was also the company’s president).

“A company mechanic performed some troubleshooting on the radar altimeter; however, he was unable to rectify the issue, and the radar altimeter remained non-functional.

“The mechanic reported that the pilot and the DOM were aware that the radar altimeter was not functioning, yet they departed at 1822 on the positioning flight to pick up the passengers.

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“About 40 minutes later, the positioning flight landed at the airport to pick up the charter passengers. After arrival, the pilot and flight follower had a phone conversation and exchanged text messages, but they did not discuss the status of the radar altimeter or weather conditions

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