29 Sep

Daily Watch – Manufacturing in trouble, ministers ahoy!

  • Some Nigerian manufacturing sub-sectors are said to be at their lowest ebb, and could be in danger of a collapse due to problems ranging from the economic downturn, customers’ preference for foreign made substitutes, the inability to compete with imports, and the lack of policy direction. Some of the sub-sectors under critical watch are paints, pharmaceuticals, primary aluminium, ceramics, footwear, rubber, domestic/ industrial plastics, toiletries and cosmetics, chemicals, pulp and paper, glass and foam.
  • Poor electricity distribution is threatening NERC’s target of achieving 6,000MW in on-grid electricity generation by the end of 2015. According to the electricity regulator, preliminary reports from a technical committee it set up to drive the realization of the target is indicating that the extent of infrastructure deterioration in the distribution network has been underestimated. Due to the incapacity, the market still experiences load rejection and shedding. “The deterioration of the Discos network is worse than we think,” Sam Amadi, Chairman of NERC, said.
  • According to an online news source, President Buhari has handed the list of 36 ministers to the Special Adviser to the President on National Assembly Matters, Senator Ita Enang for onward transmission to the National Assembly. A top All Progressive Congress (APC) source was quoted as saying that General Abdulrahman Dambazzau and Mr. Rotimi Amaechi, who are presently attending the UN meeting with the President will be on the President’s list. Speculation has also pointed to others like Pat Utomi, and Chukwuma Soludo.