The Nation Newspaper

Tag: EU

  • ‘How to get more certified agriculture products exported to EU’

    Executive Secretary/CEO, Institute of Export Operation and Management (IEOM), Mr. Ofonasaha Udofia,  has said improving food safety  standards would  ease the flow of agricultural products to Europe.

    Udofia  said the European Union( EU) has set stringent certification standards, but producers of Nigerian agricultural products should  be trained to  meet them.

    According to him, as Nigerian producers are successfully meeting the EU’s import standards, the import of Nigerian agricultural produce will be increasing.

    He explained that such produce will be well received by Europe’s large supermarkets as they would meet the international certification on good agricultural practices, Global GAP, while having an advantage in terms of quality.

    He said Nigerian  produce  have  big markets in the EU, including cocoa, cashew, palm oil and its derivatives, nutmeg and other agricultural commodities.

    According to him, Nigeria agriculture exports to the EU lag behind those of fellow African countries such as Kenya and Ghana because they   provided products with higher sanitary and phyto sanitary (SPS) standards and other international requirements.

  • EU commits €20m to rebuild Northeast, Niger Delta

    The European Union (EU) yesterday pledged to spend 20 million Euros to rebuild parts of Northeast and Niger Delta.
    The EU Ambassador to Nigeria, Mr. Michael Arrion, who spoke with the Minister of Finance, Mrs. Kemi Adeosun, in her office, said the funds would be offered in the form of budget support.
    According to the ambassador, “sometime ago, we talked about budget support but we will be able to do that only at the state level, using a special instrument meant for countries emerging from war, and we can look at states in the Northeast and look at specific projects in terms of financial support to their budgets,” he said.
    The EU ambassador said the quest to invest in Africa was informed by the need to discourage migration to Europe, saying thousands of Nigerians continue to migrate to Europe.
    He said: “We have specific objective for creating this instrument and it is to address the root cause of migration. We are presenting this initiative within the framework of the global response to irregular migration.
    Today, we have a few thousand Nigerians in Europe, and we feel we have the responsibility of attracting them to come back to Nigeria.”
    He added that “by investing in Africa, we will be creating jobs. We will be mixing grants with loans. We believe the grants will have a leveraged effect,”
    He said the EU has, in the last two years, invested over 300 billion Euros in Africa.
    Mrs. Adeosun said all financial analyses needed to facilitate support to the states had been put in place, adding that the Fiscal Sustainability Plan required a 21-point fiscal reform programme that enhanced transparency, accountability and efficiency.
    According to Mrs Adeosun, “the funding arrangement would help in healing wounds caused by insurgent activities in the Northeast.
    She said it would also give hope to the Niger Delta people who have been impacted by pipeline bombings and attendant environmental problems in the area.”

  • EU invites Trump to early summit

    Leaders of the European Union institutions have invited United States President-elect, Donald Trump, to a summit as soon as he can schedule one.

    Reuters says this was mentioned as key in a letter signed by the leaders on Wednesday congratulating Trump on his election as the new U.S. President.

    “Today, it is more important than ever to strengthen transatlantic relations,” wrote Donald Tusk and Jean-Claude Juncker, presidents respectively of the European Council, which groups member states, and the executive European Commission.

    “Only by cooperating closely can the EU and U.S continue to make a difference when dealing with unprecedented challenges such as Da’esh, the threats to Ukraine’s sovereignty and territorial integrity, climate change and migration,” they said.

    The leaders said that “fortunately, the EU-U.S strategic partnership was broad and deep, from our joint efforts to enhance energy security and address climate change.

    “Through EU-U.S collaboration on facing threats to security in Europe’s Eastern and Southern neighbourhoods and to the negotiations on the Transatlantic Trade and Investment Partnership (TTIP).

    “We should spare no effort to ensure that the ties that bind us remain strong and durable,” the EU leaders said.

  • Nigeria, EU trade volume hits €39 billion

    Nigeria, EU trade volume hits €39 billion

    In 2014 alone, Nigeria’s total trade with the European Union (EU) stood at €39 billion with the EU accounting for 31 per cent of Nigeria’s total trade.

    Speaking at the pre-event press conference  of the  fifth EU-Nigeria business forum(EUNBF), held at Eko Hotel, Lagos, the Head of Trade and Economic,  EU, Mr. Filipo Amato said the EU investment stock in Nigeria grew from €23.8 billion in 2013 to €25.3 billion in 2014.

    He said with the fall in oil prices, EU-Nigeria trade declined by 26.7 per cent  to €29billion last year.

    “Nigerian exports to EU declined by 35 per cent while imports declined by seven per cent over the period. Unfortunately, about 97 per cent of the exports to the EU are oil and gas,” he said.

    To reverse this trend, Mr Amato said the forum is designed to strengthen the business relations between the country and the EU through identification of opportunities in the global textile value chain; expose Nigerian small and medium enterprises (SMEs) to opportunities in the EU market through the platform of the Enterprise Europe Network (EEN) and explore the financing options available for funding the power sector and diversifying the energy mix in the country.

    Key private sector actors and policy makers in the country will have the opportunity to exchange business ideas with their counterparts from Europe during the  business forum scheduled for Lagos between November 10 and 11.

    He said this year’s event has: Harnessing Nigeria’s Potential for Economic Growth as theme and identify opportunities in the textile value chain  and proffer options for accessing long term finance for the power sector in Nigeria.

  • NEPC rues EU’s ban on beans

    The Nigerian Export Promotion Council (NEPC) has bemoaned the ban by the European Union (EU) on the exportation of Nigerian beans.

    NEPC said the ban, announced early this year, has been extended to 2020, adding that the discovery of high residue of preservative chemicals led to the ban.

    Director, Export Office, NEPC, Matthew Iranloye said this in Ilorin, the Kwara State capital, at a two day workshop/demonstration of agricultural produce’s drying equipment for improvement, preservation and export competiveness.

    Iranloye said, “The time it got to the market was not the time it was supposed to get to the market. By the time it got to the market, the residue was so high that it was not good for human consumption. That one has been consistent and that was what led to the ban.

    “It has been extended for three years. It was supposed to be lifted in 2017 but they look at what is still on ground and said it does not seem that Nigeria is getting it right. We have to redouble our efforts. The next three years, it is still banned but it can still be lifted before the end of that time being 2020. If they see that we have commitment and what we will not come upon.

    “It is a big market for Nigerian food. Out of about five black in the Diaspora, about three of them are Nigerians. That means that if we cannot get the supply of those items that they crave for Nigeria, we are then assist other African economy.”

    He added that NEPC is championing inter-ministerial committee that is working on the quality issues in all its ramifications to see to it that we get it right and consistently do.

    A consultant to NEPC and resource person at the workshop, Olumuyiwa Aiyegbusi put the country’s post-harvest losses at the region of N1 trillion in Nigeria.

    Aiyegusi, who is the chairman, Olu Olu Group, said, “it is a major loss for us. Between production and the market, we are losing 25 to 30 percent of what we produce, that is not good enough.

    “It will not give us food security and we cannot export. What we can do to prevent this ugly trend is a wholistic approach by preserving and removing water in a conditioned storage. Produce like tomatoes, orange, paw-paw, etc .

    “You can also do the same by removing water from mangoes or pineapple. In other words most of our produce can be preserved by removing water and can be reconstituted when you need it.”

  • EU, OPEC back stable global oil market

    EU, OPEC back stable global oil market

    The European Union (EU) and the Organisation of Petroleum Exporting Countries (OPEC) have pledged their support to ensure a stable global oil market.

    After a joint roundtable tagged: “Prospective for Future Production of Non-Crude Liquids”, held in Brussels, Belgium, the two groups agreed that in the light of  current challenges in the energy markets, ongoing dialogues of this nature would continue to be of great importance. Both parties agreed that a stable and orderly energy market is essential for both producers and consumers, and a pre-requisite for achieving sustained world economic growth.

    The roundtable provided an outlook of the production levels of non-crude liquids around the world from 2000 to 2015. It outlined projected long-term supply estimates to 2040, using three different scenarios to enable a more detailed assessment of the potential outcomes.

    It also focused on non-crude liquids, which include natural gas liquids, biofuels and fuels derived from gas-to-liquids and coal-to-liquids processes. Based on the findings of the study, natural gas liquids (NGLs) and biofuels are expected to make up the majority of non-crude liquids supply in the long term, while gas-to-liquids and coal-to-liquids will most likely play a lesser role.

    It evaluated how these liquids might impact conventional fuel production, including bioethanol’s impact on gasoline supply, biodiesel production on diesel’s share of the market and NGLs’ market position in relation to liquefied petroleum gas.

    Other topics discussed included environmental impacts as well as regulatory issues and governmental policies, especially in relation to biofuels. It was agreed by both parties that the study was informative and useful in assessing the future outlook for non-crude liquids and any potential impacts they may have on their constituencies, either directly or indirectly.

    The parties concluded that continued dialogue and exchanges of views between the EU and OPEC were essential for improving understanding and supporting their mutual interests of promoting oil market stability and predictability.

    It was also agreed that the Roundtable’s deliberations and outcomes would provide valuable input to the next event held under the EU-OPEC Energy Dialogue, which would be the 13th high-level meeting to be held in Vienna, Austria in the first half of 2017.

    The event was co-chaired by Erlendas Grigorovic, Acting Head of Unit for the European Commission’s Directorate General for Energy and Oswaldo Tapia, Head of OPEC’s Energy Studies Department and Officer-in-Charge of the Research Division.

    The roundtable was part of the formal EU-OPEC Energy Dialogue, which was established in 2005 to promote the exchange of views on energy issues of common interest, including oil market developments, and the potential this has for contributing to stability, transparency and predictability in the market.

  • EU commends FG, others involved in girls’ release

    EU commends FG, others involved in girls’ release

    The European Union (EU) has commended the Nigerian government and others involved in the release of 21 Chibok girls after two and a half years in captivity of the Boko Haram sect.

    The girls are among the over 200 girls kidnapped in 2013 from a secondary school in Chibok, Borno State.

    EU High Representative/Vice- President Federica Mogherini, Commissioner for International Cooperation and Development Neven Mimica and Commissioner for Humanitarian Aid & Crisis Management Christos Stylianides stated in a statement that it was time to give the girls hope, life and a future.

    The statement reads: “After two and a half years away from their homes and families, 21 Chibok girls kidnapped by Boko Haram are finally released. Amongst all the troubles in the world today, we celebrate.

    “It is time to give these girls hope, life, a future.

    “Yet we cannot forget all the others who remain abducted with their families and those who have suffered from the violence of Boko Haram.

    “All efforts must continue to bring the perpetrators of this terrible act to account.

    “We congratulate the government of Nigeria, the International Committee of the Red Cross and Switzerland on the successful negotiations.

    “We wish for the safe return of the girls to their families and their full reintegration into society.

    “The EU remains ready to assist the Government of Nigeria in its fight against Boko Haram, and in its humanitarian, development and reconstruction efforts.

    “Violence has displaced 2,2 million people in North Eastern Nigeria. The EU provides humanitarian assistance to this vulnerable group, especially children, in the form of child protection, nutrition, psychosocial support, support to unaccompanied children and re-unification.”

  • EU official urges FG to devalue Naira

    European Union official, Fillippo Amato, has advised the Federal Government to devalue the Naira as part of measures to tackle the economic recession in the country.

    Amato, who is the Counsellor, Head of Trade and Economics Section of EU, gave the advice in a chat with the News Agency of Nigeria (NAN) on Monday

    The EU official said recession could not be addressed with traditional development tools.

    He said the recession was a recent development which was due to several factors, including the fall in oil prices and resurgence of militancy in the Niger Delta.

    “To come out of recession, the country has to take brave decisions, regardless of how unpopular they may be such as fully and effectively devaluing the Naira,” the EU official told NAN.

    “Devaluing the Naira is a measure, which will finally reassure investors and attract new capitals to the country.

    “At the same time, it will further reduce imports, thereby removing artificial forex restrictions, and removing any potential waste of scarce resources such as the fuel subsidy.

    “Improving security (in the Northeast and Niger-Delta) and ease of doing business are also key factors on which the government must urgently work to re-launch the economy.”

    Amato said the EU had been at the forefront of aid for trade support activities in Nigeria and ECOWAS.

     

  • UK ‘may begin Brexit early 2017’

    United Kingdom Prime Minister, Theresa May, is likely to trigger the formal process of leaving the European Union early next year, according to a top EU official.

    European Council President, Donald Tusk, said Mrs. May had told him the UK could be ready to begin talks by February.

    The BBC says this is the clearest sign yet of when the two-year withdrawal process may start.

    Mrs. May’s office said it would not be launched this year, but did not confirm Mr. Tusk’s account.

    Formal negotiations over the withdrawal cannot begin until the UK triggers Article 50 of the Lisbon Treaty, the formal mechanism for leaving the union.

    The timing of the process has so-far been clouded by uncertainty, with no clear signal from Mrs. May’s government on when it would begin.

    There is also confusion over the nature of the UK’s future relationship with the bloc, especially whether it intends to remain a member of the single market.

    Mr. Tusk spoke from the Slovakian capital, Bratislava, where Europe’s 27 other leaders are gathered for an informal summit without the UK.

    Speaking about a meeting with the British PM in London last week, Mr. Tusk said: “Prime Minister May was very open and honest with me.

    “She declared that it’s almost impossible to trigger Article 50 this year but it’s quite likely that they will be ready maybe in January maybe in February next year.”

     

  • EU regulators halt Dow, DuPont merger review

    EUROPEAN Union (EU) antitrust regulators have halted their scrutiny of Dow Chemical Co and DuPont’s proposed merger while the companies provide more information on their $130 billion deal.

    The EU opened a full investigation into the case in August, concerned that the deal to create the world’s largest integrated crop protection and seeds company may reduce competition in these sectors as well as certain petrochemicals.

    “The Commission has stopped the clock in its in-depth investigation into the proposed merger between Dow and Dupont,” a spokesman said.

    “This procedure in merger investigations is activated if the parties do not provide an important piece of information that the Commission has requested from them.”

    The EU antitrust enforcer will set a new deadline for its investigation once it has received the required data. DuPont and Dow Chemicals, which aim to close the deal in early 2017, had previously offered concessions which regulators said were insufficient.

    The agrichemicals industry has seen a wave of consolidation in recent months. ChemChina may seek EU approval next week for its $43 billion takeover of Swiss pesticides and seeds group Syngenta, according to a person familiar with the matter.

    German pharmaceutical and crop chemicals manufacturer Bayer AG is also pursuing U.S. peer and world No. 1 seeds company Monsanto Co.