Opinion

The Registrar, Chartered Institute of Purchasing and Supply Management of Nigeria (CIPSMN), Mohammed Aliyu, has called on President Muhammadu Buhari to closely monitor the activities of the Bureau of Public Procurement (BPP) to avoid economic waste.

Aliyu who made the call in Abuja at the Annual General Meeting (AGM) of the Institute, noted that government can effectively supervise activities of BPP when the National Council on Public Procurement had been inaugurated.

Africa will become the world’s next big growth market, akin to the Asian boom, McKinsey, a management consulting firm said on Tuesday.

“While other geographies are seeing incremental growth, global companies that get in early and join the African champions shaping the right strategies, can sustain double-digit profit growth over the next few decades,’’ it noted.

The report drew the conclusions from a survey of 3,000 McKinsey client engagements, in-depth proprietary research and interviews with 40 of Africa’s most prominent business and development leaders.

Nigeria has replied the African Union Commission and lobbyists that it is not in a hurry to pen the African Free Trade Agreement (AfCFTA).

The decision of the federal government is hinged on the implication signing the agreement would have on the nation’s economy.

The Special Adviser to the President on Economic Matters, Dr Adeyemi Dipeolu, said on Wednesday in Ibadan at the 60th anniversary lecture of the Department of Economics, University of Ibadan.

Nigeria’s paint industry is projected to record five percent growth rate from its present estimated $268 million (N96.50 billion) to $377 million (N135.80 billion) by 2025, a business expert has said.

Chris Kiwamu, Managing Consultant, Kirsten Turner Consulting, made the projection in Lagos, South-West Nigeria, during the 30th Annual General Meeting (AGM) of the Paint Manufacturers Association of Nigeria.

He spoke on the theme: “Strategic Roadmap for the growth of the Nigerian paint industry.”