General
Global Manufacturing Growth Slows 1.2% on Q3 ’19
By Adedapo Adesanya
The global manufacturing output growth slowed down by 1.2 percent in the third quarter of 2019, a report by the United Nations Industrial Organisation (UNIDO) has revealed.
According to the report, the slow development was caused by rising tensions over international trade between major economies of the world as production declined in major industrialised countries including Germany, Japan, and the United States.
Business Post gathered that in industrialised countries, manufacturing output fell by 0.7 percent, compared to the same quarter in the previous year, with the production of general machinery, electrical goods and automobiles the sectors mainly affected.
In the motor vehicles production sector, top producers led by German companies had the highest drop at 7.7 percent, followed by Italy and France at 7.5 percent and 4.1 percent respectively.
Among Asian industrialised economies, manufacturing output dropped in Japan, the Republic of Korea and Singapore.
In Europe, manufacturing growth was much lower in Eurozone economies compared to other European Union (EU) countries.
Among non-EU economies, manufacturing output rose by 3.7 percent in Belarus, 2.9 percent in Norway and 2.4 percent in Russia.
On its part, China maintained relatively higher growth at 5.1 percent, however this was the lowest growth for several years, according to the report. It was disclosed that China’s manufacturing growth rate has been consistently falling since 2017. However, this did not affect its position as China still contributed to most of the growth of global manufacturing output.
The report added that the impact of the slowdown was quickly spreading to developing economies. For instance, India, one of the largest manufacturers of developing world, recorded negative growth for the first time this century due to a decline in exports and weaker domestic demand.
Manufacturing output also dropped in Thailand and Malaysia. The overall growth of Asia and the Pacific region, excluding China, has been estimated at less than 1.0 percent for the third quarter of 2019, compared to 3.0 percent in Q2 2019.
It was revealed that after a short-lived recovery, manufacturing output again plunged to negative growth in Latin America, mainly due to production decline in Argentina and Brazil. The growth rate of Mexico and Colombia was not up to one percent.
Manufacturing growth was also sluggish in Africa. The overall growth rate for the continent was 0.6 percent, the lowest since the fourth quarter of 2017. The manufacturing output of South Africa declined by 1.8 percent.
The global slowdown of manufacturing output according to UNIDO is a serious challenge to achieving Sustainable Development Goal 9 on industrialization, especially for least developed countries (LDCs). This goal of the SDG 9 aims to double the share of the industry in GDP of LDCs by 2030.
General
Lagos Consumes 30% of Total Power Off-Take in Nigeria—TCN
By Aduragbemi Omiyale
The General Manager in charge of Transmission for Lagos Region of the Transmission Company of Nigeria (TCN), Mr Adeshina Adeonipekun, has stressed the critical role of Lagos in the national grid.
While receiving the chief executive of Eko Electricity Distribution Company (EKEDC), Ms Wola Joseph Condotti, at his office on Monday, he said the Lagos region accounts for about 30 per cent of total power off-take in Nigeria.
He stated that TCN was implementing strategic expansion and project upgrades aimed at enhancing grid stability and operational efficiency in response to rising demand.
Mr Adeonipekun highlighted recent key milestones achieved in the region, including the commissioning of a 100MVA power transformer at the Ijora 132/33kV Transmission Substation, a 300MVA transformer at the Lekki 330/132kV Transmission Substation, and a 125MVA unit at the Agbara 132/33kV Substation, among others.
According to him, these additions have further increased the region’s installed capacity to 5,470MVA on the 132/33kV network and 4,110MVA on the 330/132kV network.
He further said that there were several ongoing rehabilitations at key substations within the region, including Amuwo GIS, Akoka 132/33kV, and Itire 132/33kV Transmission Substations, all geared towards further improving reliability, reducing system constraints, and enhancing the overall efficiency of power delivery.
In her remarks, Ms Condotti expressed appreciation for TCN’s continued partnership and support, underscoring the importance of sustained collaboration between transmission and distribution companies in building a more stable and efficient electricity transmission and supply network.
Both parties explored ways to strengthen collaboration and ensure a more stable and efficient power supply in Lagos, the nation’s commercial hub.
General
Anambra to Regain Economic Strength After End to Sit-at-Home—Soludo
By Adedapo Adesanya
The Governor of Anambra, Mr Chukwuma Soludo, says the years-long sit-at-home is now a thing of the past in the state as it will bring back lost economic viability to the South East state.
The governor spoke on Tuesday during his inauguration for a second term as the leader of the state, noting that security has improved in Anambra.
“The debilitating one-sit-at-home is over, and our schools, markets, businesses, and public servants are back to work. Reports say that ours is now the safest, or at least one of the safest states in Nigeria,” Mr Soludo said.
The second inauguration of the former governor of the Central Bank of Nigeria (CBN) witnessed eminent Nigerians, including ex-presidents Mr Goodluck Jonathan and Mr Olusegun Obasanjo, as well as the Vice President, Mr Kashim Shettima, among others.
“I’m sure many of you flew into Anambra yesterday, being Monday. Previously, it was not possible,” he said at the Alex Ekwueme Square in Awka, the state capital.
Primarily associated with the Indigenous People of Biafra (IPOB), a separatist group advocating for an independent Biafran state, the sit-at-home saw millions of South-East residents remain indoors, shut their businesses, and stay off the roads on Mondays. Initially, it was declared as a weekly protest (especially on Mondays) to demand the release of IPOB leader, Mr Nnamdi Kanu, in 2021 by the Federal Government and draw attention to the separatist cause.
The cause had significant socio-economic consequences in the South-East states like Abia, Anambra, Ebonyi, Enugu, and Imo.
However, Mr Soludo referenced several milestones, including the destruction of criminal camps and the “mass return” of Anambra indigenes during the Yuletide, as evidence of improving security in the state.
“Some 62 criminal camps have been dismantled, and 8 local governments previously under total siege have been liberated,” the governor said.
“Anambra had its best Christmas season in decades last December with a mass return and over 10,000 visitors per day to the Solution City every day until the 10th of January.”
Part of the measures to address insecurity in Anambra was the Homeland Security Law 2025, a measure the governor said contributed to the reduction in criminality.
The Independent National Electoral Commission (INEC) declared Mr Soludo as the winner of the November 8, 2025, governorship election in Anambra State. The APGA candidate polled a total of 422,664 votes, defeating his closest rival, the candidate of the All Progressives Congress, Mr Nicholas Ukachukwu, who scored 99,445 votes, while the candidate of the Young Progressives Party, Mr Paul Chukwuma, came third with 37,753 votes.
General
Don’t Pay Any Agent, Official for SCUML Registration—EFCC
By Aduragbemi Omiyale
The Economic and Financial Crimes Commission (EFCC) has cautioned members of the public against making any payment for Special Control Unit Against Money Laundering (SCUML) certificate registration, stressing that it is free.
During a live radio programme on Enugu State Broadcasting Service, the Head of SCUML Department in Enugu Zonal Directorate of the EFCC, Mr Promise Oluigbo, said obtaining the certificate is now seamless.
According to him, with the introduction of electronic certification, which has improved efficiency and eliminated the risk of fake certificates, over 480,000 entities have been registered nationwide.
He warned members of the public against engaging agents who charge fees for SCUML registration, stressing that the commission does not authorise third-party registrations.
“The EFCC frowns at any individual or group collecting money from businesses under the guise of facilitating SCUML registration. The process is seamless and free of charge,” Mr Oluigbo declared.
He charged operators of Designated Non-Financial Businesses and Professions (DNFBPs) in the South-East to comply with mandatory SCUML registration to combat money laundering, terrorism financing, proliferation of weapons of mass destruction, safeguard businesses and strengthen the integrity of Nigeria’s financial system.
“DNFBPs are categories of businesses identified under Section 30 of the Money Laundering Act and include sectors such as automobile dealerships, real estate businesses, construction firms, hospitality services, supermarkets, legal practitioners, consultants, and non-profit organisations.
“As a regulatory body responsible for overseeing the activities of these businesses to curb money laundering and financing of terrorism, it’s important I say it here that the registration process is completely free.
“Business owners do not need to engage any third party. All they need to do is visit the SCUML portal and complete the registration process,” he said.
While emphasizing on the need for businesses to register and collect the certificate, he urged them to ensue adherence to statutory requirements such as Know Your Customer (KYC) procedures, customer due diligence, record keeping and reporting of suspicious transactions, adding that failure to comply constitutes a violation of the law and may attract fines, imprisonment or other regulatory sanctions as stipulated under the Act.
“The objective of the SCUML framework is not to stifle businesses but to protect the financial system and ensure transparency in commercial activities. It is designed to safeguard businesses and strengthen the integrity of Nigeria’s financial system,” he said.
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