Tag: Speaker Abbas Tajudeen

Speaker Abbas Tajudeen has said trade relations between Nigeria and the Kingdom of Morocco could yield as much as $2.5billion annually 

The Speaker said the current trade percentage between Nigeria and Morocco is said to have barely increased to 1.88 per cent in the last five years. 

He spoke through the House Leader Prof Julius Ihonvbere at a meeting with stakeholders on Nigeria-Morocco trade relations at his office.

Speaker Abbas expressed optimism that the interaction would critically review the trade relations between Nigeria and Morocco to recommend “changes that are legislatively necessary to improve our trade relations and enable businesses from both countries to take maximum advantage of AfCFTA and other bilateral trade agreements to grow the GDP of our both countries.

“We are prepared to partner with the Federal Ministry of Industry, Trade and Investment, Federal Ministry of Foreign Affairs and other relevant institutions, agencies, and corporate organisations to ensure that all trade barriers are resolved and removed. 

“We are ready to work with our counterparts in the Parliament of Morocco through our Parliamentary Friendship Group with Morocco to speedily resolve any areas that need legislative attention.”

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The Speaker stressed that part of the House’s legislative strategy is to engage critical stakeholders to brainstorm and curate diverse views and opinions in support of the economic diversification policy of the government, with a focus on reducing dependence on oil and increasing development in other sectors across Nigeria, such as mineral resource mining, manufacturing, agro-processing, textile, tourism and technology and general services.

Abbas said the “critical and strategic stakeholders” meeting was organised to promote trade relations between Nigeria and the Kingdom of Morocco. 

The Speaker added that he had the opportunity to interact with Nigerian entrepreneurs in the Kingdom of Morocco, as well as Moroccan entrepreneurs who desire to do business with Nigeria.

He said: “One of the Nigerian companies doing business in Morocco, Spectre Trans-Trade Global, therefore submitted a letter requesting the House to intervene and remove trade barriers between Nigeria and the Kingdom of Morocco, one of the outcomes of the first edition of the Nigeria-Morocco Business Week Investment Summit held in Casablanca from 29th to 31st October 2024.  

“The organisation called for the activation of the African Continental Free Trade Area (AfCFTA) between Nigeria and Morocco, the avoidance of a double taxation treaty, the creation of a direct sea lane between our two countries to promote cross-border investments and the implementation of previous bilateral trade agreements. 

“This meeting, coming a month after that high-level interaction, is a testament to the determination of our two countries to promote mutual relations in trade and business.”

Minister of Industry, Trade and Investment, Dr Olajumoke Oduwole said she had the assurances of the Minister of Finance and Coordinating Minister of the Economy, Dr Wale Edun, that the Federal Government of Nigeria would prioritise the AfCFTA.

Oduwole also noted that the issue of double taxation, which the government is reviewing, would require the intervention of more stakeholders.

While noting trades between Nigeria and Morocco revolve around petroleum, agriculture, telecommunications and financial technology, the Minister said “our two countries have a great trading relationship,” adding that though the trade volumes are gradually increasing, there is room for improvement.

The Minister said further that Nigeria and Morocco can explore more opportunities in the banking, telecoms, and energy sectors, especially on the green/renewable energy market and the trans-Sahara pipeline project. She also mentioned a direct shipping link between Nigeria and Morocco.

The Minister, however, stated that some of the issues are beyond her ministry and require the involvement of other relevant ministries, departments, and agencies.

The Moroccan Ambassador to Nigeria, Tagma Moha Ou Ali said Morocco and Nigeria share deep historical relationships and goals in Africa. He also noted that trades between the two countries have recorded significant progress in recent years.

While calling for trade integration on the continent, the Moroccan Ambassador urged Nigeria and his country to work together to eliminate trade barriers.

“We have to boost agriculture and industrial collaboration,” he partly said while calling on financial institutions in Morocco and Nigeria to work closely to facilitate financial support for trades between the countries.

Ambassador Ali expressed the commitment of Morocco to fostering economic policies that benefit both nations.

Speaker Abbas Tajudeen has advocated alternative sources of generating funds to finance education in Nigeria to reduce reliance on government resources.

Abbas, who spoke at the Annual General Meeting of the Zaria Education Development Association (ZEDA) in Zaria, Kaduna State gave alternative means of funding education as Public Private Partnerships arrangements and endowment funds.

The Speaker, who served as the Chairman of event where he was honoured for his “service to humanity”, urged the association to explore various opportunities.

He said “Diversifying funding streams is critical as well. By establishing endowment funds or engaging in public private partnerships, we can reduce our reliance on government funding. 

“Successful models in countries such as Denmark and Ireland have demonstrated that diversified funding can drive long-term, sustainable growth in the education sectors”

According bto him, human capital development remains the cornerstone of our national progress. He cited the examples of Japan, Singapore, Switzerland, Taiwan, Luxembourg, Ireland, and Denmark, which have achieved remarkable progress. 

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“They have done so not by relying solely on natural resources but by investing heavily in education, training, and innovation. Their success is reflected in their high rankings on the Human Development Index and ease of doing business.

“Nigeria, blessed with vast natural resources, must equally prioritise the development of its people to realise its full potential,” he said. 

Abbas said Zaria’s rich educational heritage, which dates back to the 16th century, continues to be a source of pride and inspiration.

He stressed that as the home to Ahmadu Bello University and numerous other institutions, Zaria has contributed immeasurably to the intellectual and professional fabric of Nigeria. 

He emphasised that “our shared heritage calls upon us to nurture this legacy for future generations,” adding that several new educational initiatives, which he attracted to his constituency would go a long way to enhance learning in Kaduna State and beyond.

These projects include a Federal College of Education, a College of Health Sciences, a campus of the National Open University of Nigeria, and a College of Legal Studies.

“Once fully established, these institutions promise to extend significant educational and socio-economic benefits to our community,” Speaker Abbas stated.