PRESIDENTIAL ADVISER ON ADVOCACY, RESEARCH AND GOVERNMENT RELATIONS

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Presentation transcript:

PRESIDENTIAL ADVISER ON ADVOCACY, RESEARCH AND GOVERNMENT RELATIONS NBCC COUNCIL MEETING OF JUNE 29, 2016 (METROPOLITAN CLUB, VICTORIA ISLAND, LAGOS) PRESENTATION ON GOVERNMENTAL ISSUES BY DR. IKENNA NWOSU PRESIDENTIAL ADVISER ON ADVOCACY, RESEARCH AND GOVERNMENT RELATIONS

APPRECIATION A. BREXIT: BRITAIN’S REFERENDUM APPROVING EXIT FROM THE EUROPEAN UNION This happened on June 23 The multidimensional socioeconomic and political implications are rapidly unraveling domestically in the UK, regionally in the EU, and globally. Its implications for Nigeria is yet to be unanimous, but will include loss of any EU preferential treatment on trade with Africa.

If Scotland, Wales and Northern Ireland breakaway via separate referendum, then NBCC’s geographical area of engagement will reduce drastically. If England remains standing alone, and renames itself “England” and NOT “Britain”, then NBCC’s nomenclature may change. Council is invited to discuss Brexit, and mandate the President/DG/Presidential Adviser to liaise with NBCC UK Network to send in a confidential memo in “Implications of the Brexit Referendum for the future of the NBCC”

B. Introduction of CBN’s New Flexible Foreign Exchange Policy This is a welcome developments, and will catalyze trade. Council is invited to mandate the relevant committee to study the new policy guidelines and draft a Press Statement for the NBCC President to send out commending the policy and expressing any reservations.

Terminal operators made similar tariff increases. C. The Recent Astronomical Increase in Shipping and Port Charges – And the lack of Inertia by the Nigerian Shippers Council About six weeks ago, shipping companies raised their charges as follows: Imports - 85% to 100% Exports - 450% to 500% Terminal operators made similar tariff increases. Neither obtained the approval of the port economic regulator – Nigerian Shippers Council (NSC), nor that of the Honourable Minister of Transport.

The start unjustified increase will worsen the already difficult operating environment, and will dramatically sabotage the Nigeria Government’s plans for economic diversification into exports of Agricultural and mineral resources. Council is invited to discuss and mandate the President to issue a public statement condemning the increase and demanding its reversal. Conclusion: The sociopolitical economy is in the worst of times, and NBCC will continue to monitor for the benefit of members.

Thank you.

Dr. Ikenna Nwosu