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Top Industry Players to Discuss Role of Halal Industry in Reviving Global Economy

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Top industry players

 

Top industry players, policy makers and experts in the Halal industry will convene in Sharm El Sheikh, Egypt to discuss the role of Halal industry in creating economic opportunities and reviving the global economy.

The experts will gather in Egypt during the IsDB Group Private Sector Forum on the sidelines of the 47th Islamic Development Bank’s Annual Meeting. The theme of the side event is: Rejuvenating Halal Economy, Creating Economic Opportunities. The discussion will take place at 10am on 4th June 2022.

The Halal economy is estimated to grow to US$3.2 Trillion by 2024. It is an industry that is quite diverse with products ranging from foods and beverages, pharmaceuticals, tourism, cosmetics, media etc.

Speakers at the high-level event include IsDB Vice President (Operations), Dr. Mansur Muhtar, IsDB Acting Director General (Global Practice and Partnership), Mr. Amer Bukvic; Mr. Hanisofian Alias, Chief Industry Development officer,  Halal Development Corporation, Malaysia; Mr. Amel Kovacevic, CEO, United Bank of Albania; Ms. Yvonne Maffei, Founder, Halal Kitchen, USA; Mr. Tomás Guerrero Blanco, Director at Halal Trade and Marketing Centre and Dr. Angitto Abimanyu, Chairman, Indonesia Hajj Fund.

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Dr. Mansur Muhtar, Vice-President (Operations) at IsDB stated: “The halal industry has enormous potential. By tapping into opportunities offered by the Halal economy we can create more jobs and support the effort of our member countries to revive their economies following the devasting impact of COVID-19. This is also in line with the strategic objectives of the realigned strategy of Islamic Development Bank.”

Mr. Amer Bukvic, Acting Director General, Global Practice and Partnership at IsDB Commented: “This is a great opportunity to showcase the immense contribution of the halal industry to the world. With rising unemployment and inflation across the globe, we need to explore non-traditional means of reviving the global economy. The Halal economy is a tested and trusted industry that we can tap into to support this endeavor.”

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Table Water Producers Increase New Price for Sachet Water in Kano

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The Kano State Chapter of the Association of Table Water Producers (ATWAP) has officially announced an upward review of the price of sachet water (popularly known as “pure water”) across the state.

This decision is a direct response to the unsustainable surge in the cost of production materials.

In a statement representing the association, it was disclosed that the price of a bag of sachet water, which was previously sold at N220, has now been adjusted to a minimum of 300 Naira.

This adjustment is necessary to prevent the collapse of the industry, as the cost of essential production materials has increased by two-thirds.

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The association highlighted several critical economic challenges, including:

– Printing Film: The price has risen to 3,700 Naira.
– Gas/Fuel: Prices have reached 1,500 Naira per liter.
– Power Supply: The lack of stable electricity has forced factories to rely entirely on expensive generator power.

Despite these financial pressures, the Chairman, Alhaji Ahmad Bala Hudu, has issued a stern warning to all producers against compromising water quality.

The association emphasizes that:
– Reverse Osmosis (RO) systems and water purification standards must be strictly maintained.
– The association is working in collaboration with health authorities to inspect factories.
– Any producer found bypassing health standards will be handed over to the appropriate law enforcement agencies.

The association appeals to the public for understanding and patience during this period, particularly as we are in the holy month of Ramadan.

In a statement issued to newsmen, Anas Idris Hassan, the Public Relations Officer of the association, said the price review is a last-resort measure to ensure that safe drinking water remains available in the state.

 

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Governor Dauda Lawal Defects to APC After Stakeholder Consultations

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The Zamfara State Government has announced that Governor Dauda Lawal has formally defected from the Peoples Democratic Party (PDP) to the All Progressives Congress (APC), following what officials described as “extensive consultations with stakeholders, political leaders, elders, and supporters across the state.” This was contained in a statement signed by Nuhu Salihu Anka, Director General, Media and Communication, Office of the Governor.

According to the statement, Governor Lawal’s decision was driven by the overriding interest of stability, progress, and sustainable development in Zamfara State. “After careful consideration, His Excellency has decided to formally defect to the APC,” Anka said, noting that the move followed prolonged internal crises within the PDP at both national and state levels.

The government explained that unresolved leadership disagreements and structural challenges in the PDP had created uncertainty and distractions that threatened effective governance. “These challenges have continued to hinder the delivery of democratic dividends to the people of Zamfara State,” the statement emphasized.

Governor Lawal reiterated that his primary responsibility remains the peace, security, and development of Zamfara State. “It became necessary to align with a political platform that provides greater unity, stability, and stronger cooperation with the Federal Government,” Anka quoted the governor as saying.

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The statement further revealed that the final deliberation leading to the defection was held at the Government House in Gusau, under the coordination of the Deputy Governor, alongside senior government officials and key political stakeholders. “This was a collective decision reached after wide consultations,” Anka explained.

Governor Lawal expressed appreciation to PDP members and supporters for their cooperation over the years. However, he noted that the prevailing political realities and unresolved crises within the party made it necessary to take what he described as “a bold step in the interest of good governance and the future of Zamfara State.”

By joining the APC, the governor reaffirmed his commitment to strengthening unity, improving security, accelerating development, and ensuring that Zamfara State benefits fully from stronger collaboration with the Federal Government. “This is a new political phase aimed at promoting unity, stability, and development,” Anka stated.

The government therefore called on citizens, political leaders, party supporters, and stakeholders to remain calm and supportive. “We urge everyone to embrace this transition peacefully as Zamfara enters a new chapter of political cooperation and progress,”

 

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Petrol Price Surge to Deepen Cost-of-Living Crisis as Dangote Refinery Hikes Rates Again

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By Yusuf Danjuma Yunusa

The financial burden on Nigerian consumers is set to intensify following a sharp increase in petrol prices by the Dangote Petroleum Refinery, marking the third adjustment in less than a week.

Effective Monday, the refinery raised the gantry price of Premium Motor Spirit (PMS), commonly known as petrol, to ₦1,175 per litre. This represents a significant jump of ₦180, or approximately 18.1%, from the ₦995 per litre price announced just last Friday. In a parallel move, the gantry price of Automotive Gas Oil (diesel) was also revised upward to ₦1,620 per litre.

Confirming the development to our correspondent, a senior official at the refinery, who spoke on condition of anonymity due to restrictions on public commentary, stated that the changes have been formally communicated to marketers and depot operators.

“Yes, the gantry prices have been adjusted. PMS is now ₦1,175 per litre while Automotive Gas Oil is ₦1,620 per litre,” the official said. “The market has been extremely volatile, and replacement costs have shifted significantly in recent days. These adjustments reflect prevailing market fundamentals and the cost environment we are currently operating in.”

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Data from the industry pricing platform, petroleumprice.ng, confirmed that the revised rates have been integrated into depot pricing systems nationwide, effectively resetting the benchmark for downstream marketers.

This latest surge—which has seen gantry prices climb from ₦774 to over ₦1,175 in a matter of days—is already translating to higher costs at the pump. Retail outlets in several states are now selling petrol for approximately ₦1,200 per litre, adding another layer of economic strain on households and businesses.

The increase is expected to trigger a fresh wave of price adjustments across the country. Higher fuel costs invariably lead to increased expenses for transportation, logistics, and production, costs that are typically passed on to consumers. This dynamic threatens to exacerbate Nigeria’s already high cost of living.

The price hikes underscore the challenges facing the Federal Government’s efforts to stabilize the downstream sector. Through the Nigerian National Petroleum Company (NNPC) Limited, the government has been working to secure crude oil supply for the Dangote refinery via third-party international traders in a bid to sustain local refining and, ultimately, moderate prices.

However, officials caution that these interventions may not yield immediate relief for consumers. As the 650,000-barrel-per-day Lekki-based refinery adjusts its prices in response to volatile market realities, Nigerians are left grappling with the immediate consequences of a deregulated market where pump prices are increasingly subject to global and local market forces.

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