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NDDC MD reveals government’s effort to complete N1.3trn refund.

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The Acting Manager of Niger Delta Development Commission Prof Nelson Brambaifa has disclosed that the Federal government have started the payment of over N1.3 trillion its owing the commission.

Professor Brambaifa revealed this in a statement made available to newsmen in Port Harcourt by NDDC’s director of Corporate Affairs Mr Ibitoye Abosede.

Brambaifa spoke during his inaugural meeting of the new management of the commission, noting that President Muhammadu Buhari loves the Niger Delta region.



He said that “The new management team in response to the growing unhappiness in the region over government’s commitment to developing the region and improving the living conditions of the people.

“The Federal Government has indeed begun refunding over N1.3 trillion owed by the commission since inception.

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“The Niger Delta had suffered enough and President Buhari recognised this and has taken prompt action to redress the situation and reassure the people on government’s commitment to their welfare’’.

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Brambaifa, whose appointment was announced by Buhari on Friday, said the present administration had ensured the commission’s statutory financial obligations were paid in full.

“President Buhari also ensured that all other statutory contributors to the funding of NDDC met their obligations.

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President Ramaphosa to Sign South African Competition Amendment Bill Into Law

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South African President Cyril Ramaphosa will sign into law today the Competition Amendment Bill, which will strengthen regulations against anti-competitive behaviour in industrial markets.



The bill, which was approved by the National Assembly in October 2018 and endorsed by the National Council of Provinces in December 2018, is a step in the right direction for SMEs, economic inclusion and it opens up the economy to fresh investment and innovation.

It also provides a clear mandate to the competition authorities to address economic concentration in a balanced manner and to promote economic transformation, the Presidency said on Monday.

Additionally, the amended legislation seeks to combat concentration and economic exclusion as core challenges that contribute to slower and less dynamic growth, lower employment and greater inequalities, as well as socio-political conflict.

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The Presidency said this will enable a more effective approach to concentration, with a focus on improving outcomes for small and black-owned business, and strengthen the institutions involved in managing competition policy and law.

The signing ceremony will take place this afternoon at the Tuynhuys Chambers in Parliament. Economic Development Minister Ebrahim Patel, who campaigned fiercely for the bill’s codification, will join the ceremony along with a group of stakeholders.

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Manufacturing Output Growth Slows Again in South Africa

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The preliminary data from Statistics South Africa has showed the rate at which South Africa manufacturing output slowed twice again within the month of December.




Negative contributions came from petroleum, chemicals, rubber and plastic products, iron and steel, non-ferrous metal products, metal products and machinery industries to make outputs edged up a non-adjusted 0.1% year-on-year in December following a 1.3% increase in November and a 3.0% gain in October

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As against a drastic output growth in the prior month; 0.7% following a 0.4% rise in November

Meanwhile motor vehicles, parts and other transport equipment, food and beverages, glass and non-metallic mineral products made the biggest positive contributions in December.

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