Connect with us

National News

At 4th ASIF Meeting, President Tinubu Demands Collective Action To Develop Africa

Published

on

At 4th ASIF Meeting, President Tinubu Demands Collective Action To Develop Africa

** Urges relevant institutions to utilise continent’s sovereign wealth funds with sound financial discipline

By: Our Reporter

President Bola Ahmed Tinubu has called for collective action and regional cooperation among African countries in actualising transformative development on the continent.

Specifically, he said shrewd utilisation of sovereign wealth funds is crucial in ongoing efforts to close the infrastructure gap, build climate change resilience and create job opportunities for the growing youth population on the continent.

The President gave the charge on Monday in Abuja when he declared open the 4th Annual Meeting of the Africa Sovereign Investors Forum (ASIF), hosted by the Nigeria Sovereign Investment Authority (NSIA).

President Tinubu who was represented by his deputy, Vice President Kashim Shettima, noted that the forum’s meeting with the theme, “Leveraging African Sovereign Wealth Funds to Mobilise Global Capital for Transformative Development in Africa,” was holding at a time the world is witnessing rapid transformation and is under pressure to think outside the box.

For Africa, the Nigerian leader said it is time to position the continent to seize the opportunities rooted in the wave of global change, just as he asked African nations to take a cue from evolving sovereign wealth funds across the world, which have moved beyond serving as mere fiscal buffers to become architects of national transformation.

“Our future lies not in working in silos but in pursuing regional cooperation and collective ambition. Our sovereign wealth funds must become the anchors for pan-African investment platforms that de-risk projects, standardise processes, and deliver sustainable outcomes at scale. This is not just a strategy. This is a necessity,” he declared.

Acknowledging that Africa is currently facing a development dilemma, as it contends with limited fiscal space amid growing expectations and demands for long-term capital to fuel inclusive and sustainable growth, President Tinubu, however, identified creativity as a solution to the puzzle.

He said, “There can be no greater inspiration to reimagine how we invest, whether in setting up critical infrastructure, strengthening our climate resilience, promoting food security through agricultural innovation, supporting micro, small and medium enterprises, or embracing the digital economy to create jobs and expand opportunity.

“None of these is possible without catalytic institutions that combine strategic foresight with sound financial discipline. This is why the Nigeria Sovereign Investment Authority stands not only as a steward of our sovereign capital but as a vehicle for the delivery of strategic infrastructure.

“It is a catalyst in our national quest to redeem renewable energy, healthcare, agriculture, and much more. It is also a hub for pioneering innovative capital mobilisation solutions tailored to the realities of our continent.”

The President noted that ASIF has the pan-African apparatus to harness the collective strength of the continent’s sovereign investment institutions, just as he maintained that the time to act was now.

“We must act and act now to close the infrastructure gap, build resilience to climate change, and create jobs for our expanding youth population. This is precisely why platforms like the Africa Sovereign Investors Forum are not just relevant but essential.

“ASIF offers a pan-African mechanism to harness the collective strength of our sovereign investment institutions. It gives us the power to share knowledge, co-invest across borders, and speak with a unified voice in the global financial ecosystem. Through this kind of collaboration, we will attract the scale of capital required to unlock Africa’s latent potential,” he stated.

President Tinubu applauded the formal launch of the ASIF Investment Platform, saying it is a strategic initiative that deepens collaboration among Africa’s sovereign wealth funds.

The platform, according to him, is not just an innovative tool but also a bold move that pools the continent’s capital, expertise, and networks to mobilise financing for high-impact, cross-border projects, as well as “a step forward in advancing inclusive and sustainable development across the continent.”

He expressed delight that the Nigeria Sovereign Investment Authority (NSIA, as a founding member of ASIF) has taken an active role in advancing the vision, even as he commended its leadership for “mobilising like-minded African funds and international partners to design long-term, impactful investment solutions”.

Earlier, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, listed priorities for stakeholders at the forum to include capital mobilisation at scale, regional and intercontinental collaboration, human capital and policy alignment, noting that they are critical for transformative development across the continent.

He expressed hope that the ASIF meeting would birth significant transactions that can mobilise the required resources, drive economic transformation across Africa, forge impactful partnerships and build a sustainable future.

In his remarks, President of AfreximBank, Prof. Benedict Oramah, emphasised the need for stakeholders to keep African sovereign wealth funds on the continent by investing in domestic markets.

He noted that the forum can help reshape Africa’s development financing in a manner that gives the continent greater opportunity to determine its development trajectory.

The AfreximBank boss dismissed insinuations that Africa does not have bankable projects, noting that the potential across the region is huge and the challenge lies with stakeholders, especially managers of sovereign wealth funds in the continent, to rethink strategies for investment, prioritising domestic investments.

On his part, Chairman of African Sovereign Investors Forum (ASIF), Mr Obaid Amrane, said while Africa is open for business, the forum is committed to facilitating the participation of sovereign investors in Africa’s transformation.

He said in just three years, ASIF has made significant strides in enhancing Africa’s global positioning, closing the infrastructure funding gaps across the continent and promoting greater collaboration among governments and sovereign investors in transformative projects that impact lives across the length and breadth of the region.

In his remarks, the Managing Director, Nigeria Sovereign Investment Authority, Mr Aminu Umar-Sadiq, explained the focus of the meeting, noting that private capital plays a critical role in driving investments in infrastructure development on the continent.

He outlined the priority areas of the meeting and noted that the forum will catalyse investments across Africa and beyond, impacting lives through projects across diverse fields.

For his part, Pan-African activist, Prof. PLO Lumumba, called on leaders across Africa to leverage huge resources domiciled on the continent to invest in the future of unborn generations by investing more within the continent, noting that sovereign funds should be invested within and not outside Africa.

He said it is an intergenerational duty for political and economic leaders on the continent to cater for generations yet unborn, adding that Africa’s resources are inexhaustible, hence leaders must invest in the future of generations to come.

Also present at the event were Minister of Industry, Trade and Investment, Dr Jumoke Oduwole; President/CEO of Africa Finance Corporation, Mr Samaila Zubairu; CEO & Special Representative of the UN Secretary General for Sustainable Energy for All and Co-Chair, UN-Energy, Ms Damilola Ogunbiyi; Chairman of Federal Inland Revenue Service, Mr Zacch Adedeji; CEO of Africa50, Mr Alain Ebonisse, and Director General, International Solar Alliance, Mr Ashish Khanna, among others.

At 4th ASIF Meeting, President Tinubu Demands Collective Action To Develop Africa

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

National News

Governor Zulum Felicitates with the Muslim Ummah on the Commencement of 2026 Ramadan

Published

on

Governor Zulum Felicitates with the Muslim Ummah on the Commencement of 2026 Ramadan

By: Our Reporter

Borno State Governor, Professor Babagana Umara Zulum, has extended warm felicitations to the Muslim Ummah in Borno State, Nigeria, and across the world on the commencement of the Ramadan fast, 1447 After Hijrah

Governor Zulum described the Holy month of Ramadan as a period of spiritual rejuvenation, self-discipline, sacrifice, compassion, and devotion to Almighty Allah. He noted that fasting is not only about abstaining from food and drink, but also about purifying the heart, strengthening faith, promoting patience, and extending kindness to the less fortunate and less privileged members of society.

In a statement by his Special Adviser on Media, Dauda Iliya, the governor urged Muslim faithful to use the blessed month to deepen their acts of worship, supplication, and charitable giving, promote unity, and uphold the values of peace, tolerance, and mutual respect that Islam teaches.

“I would like to extend my sincere congratulations to the Muslim Ummah on the commencement of the Ramadan fast, one of the five pillars of Islam. This Ramadan is coming at a time when the state continues to witness sustained peace and a bumper harvest from last year’s cropping season,” Zulum said.

“On Tuesday, I launched the distribution of Ramadan palliatives to 300,000 households across all 27 local government areas of the state, designed to cushion the economic burden on vulnerable residents during the holy month of Ramadan. The gesture will also be extended to members of the Christian community who are also fasting the Lent which falls within the month of Ramadan,”.

Reflecting on Borno’s journey over the past fifteen years, Governor Zulum acknowledged the resilience, patience, and sacrifices as the state recovers from Boko Haram insurgency. He reaffirmed his administration’s unwavering commitment to restoring lasting security, rebuilding destroyed communities, resettling displaced families, and reviving livelihoods across the state.

“Our government remains focused on consolidating the gains achieved in security through close collaboration with the Federal Government and security agencies. We are rebuilding schools, hospitals, roads, and markets, and supporting farmers, traders, and youth to restore economic activities in liberated communities,” he remarked.

He added that significant progress has been made in reconstruction and rehabilitation, but emphasized that collective prayers and unity of purpose remain essential to sustaining peace and stability in Borno State and Nigeria as a whole.

Governor Zulum therefore called on the Muslim Ummah to dedicate this Ramadan to fervent prayers for enduring peace, security, prosperity and national cohesion. He also encouraged citizens to support one another, especially vulnerable families, widows, orphans and those affected by the insurgency.

“As we observe this sacred month, let us renew our commitment to righteousness, peaceful coexistence and service to humanity. With faith, unity and perseverance, we shall continue to rebuild our state stronger and more resilient than ever,” he said.

He called on well-spirited individuals and groups to support the less fortunate members of society in this season of faith renewal and rejuvenation.

Zulum also felicitated with the Christian community on the commencement of Lent, which coincides with the day Muslims start the month-long Ramadan fast.

“This is not a mere coincidence. Rather, it underscores the need for unity, peaceful coexistence, and collective action in building and advancing the state and the nation,” he emphasized.

The governor prayed that Almighty Allah accepts the fast, supplication, and good deeds, and grant Borno State and Nigeria sustainable peace and development.

Governor Zulum Felicitates with the Muslim Ummah on the Commencement of 2026 Ramadan

Continue Reading

National News

El-Rufai Puts Ribadu on Trial

Published

on

El-Rufai Puts Ribadu on Trial

By Frank Tietie

A man who is neither drunk nor high on drugs, but in his clear and sane mind, goes on a prime-time show on a continental television network like the Arise News Channel and proclaims that he got information from someone who tapped the phone line of the National Security Adviser (NSA) of the Federal Republic of Nigeria. How should the Nigerian government react?

It becomes a Catch-22 for the Nigerian government whether to respond to El-Rufai’s latest tirade. But to react hastily would fail to see the damning point Nasir El-Rufai is trying to make, which is to show the ineptitude of Nuhu Ribadu as NSA. The government should have seen through the former Kaduna State governor’s bravado.

Of course, El-Rufai knows the possibility that Ribadu would fall for the trick and might actually order his detention, either for statements made on live international television or for the bared waiting fangs of the EFCC. Sonit appears he had prepared for the worst, but probably not for death in the hands of his sworn enemies through poisoning. Hence, he immediately alerted the world to the Gestapo treatment that is usually given to some government enemies when they are in detention. So he quickly accuses the same Nuhu Ribadu of importing thallium sulphate, a lethal poison suitable for eliminating political enemies quietly. This he has done, in case he, himself or any other opposition politicians die in detention as 2027 approaches. What a way to shift the burden?

The choice of the government to charge El-Rufai for cybercrimes over the claims he made on live on Arise News Prime Time show about tapping the NSA’s phone is a tacit yet loud acknowledgement that any NSA whose phone can be tapped so easily is not only incompetent, but highly undisciplined and lackadaisical on national security matters. Tell me, which serious country, like the United States of America, the United Kingdom, France, Germany, Russia, or Saudi Arabia, would take the National Security Adviser of Nigeria seriously if they knew that an ordinary citizen could easily tap his phone?

What Malam Nasir El-Rufai has done is not to present technical evidence of interception. Rather, he has thrown a political gauntlet designed to provoke a reaction. The trap is simple: once the state moves against him, the conversation shifts from the accuracy of his claim to the conduct and capability of those charged with safeguarding national security.

A hurried resort to criminal prosecution risks missing the wider implication that public officers, particularly those occupying sensitive security positions, are expected to inspire confidence, not anxiety.

Therefore, if the state frames a prosecution around a claim that the NSA’s line could be tapped, the unintended consequence is that the allegation receives international circulation, renewed media life and diplomatic attention. In effect, the courtroom becomes a megaphone for the NSA’s failures.

Consequently, if the charge against El-Rufai is driven by reputational discomfort or the political embarrassment that he has caused Ribadu or the Tinubu government. It risks being counterproductive, especially in a democratic setting that has a high tolerance for speech directed at public officials.

Statements that are provocative, speculative or even reckless are often part of political contestation, especially as 2027 approaches. They should not be the basis for criminal charges. Such statements are best answered by clarification, transparency, and institutional reassurance, rather than the coercive weight of arrest, arraignment, and trial.

To prosecute El-Rufai in circumstances such as this may therefore produce the exact opposite of deterrence. It can elevate and transform him into a cause, especially among Northern Nigeria elements, and suggest that the government is more eager to punish criticism than to disprove it.

The other dimension is the possibility that such a trial would invite scrutiny, arguments, cross-examinations, and global reporting, further exposing Ribadu or the government. Meanwhile, silence would have buried it faster.

Instead of dismissing El-Rufai as someone probably chasing political clout, the choice to charge him would validate his point and expose Nuhu Ribadu as unfit to be NSA.

El-Rufai is no ordinary politician. He combines the arts of casuistry, statecraft, populism and activism for political relevance, and he is yet on another journey to reinvent himself politically to the detriment of his foes like Ribadu. But he also wants to come out alive. And even if he dies in the process, he seems not to care much, as long as such would deal the maximum blow to the political careers of his traducers.

If anyone thinks El-Rufai is being diminished by his latest travails, they should think again. In fact, it is he who is putting some persons on trial in the court of reason.

Frank Tietie
Lawyer and Public Affairs Commentator,
Writes from Abuja

El-Rufai Puts Ribadu on Trial

Continue Reading

National News

Civil Society Escalates Pressure on Senate Over ‘Conditional’ Electronic Transmission Clause

Published

on

Civil Society Escalates Pressure on Senate Over ‘Conditional’ Electronic Transmission Clause

By: Michael Mike

Tension over proposed changes to Nigeria’s electoral framework deepened on Monday as the Nigeria Civil Society Situation Room demanded the immediate adoption of unconditional electronic transmission of results in the amendment to the Electoral Act, warning that any dilution of the reform could erode public trust ahead of the 2027 general elections.

At a protest held at the entrance of the National Assembly in Abuja, the coalition accused the Senate of weakening critical safeguards in the Electoral Act Amendment Bill 2025 by introducing what it described as “conditional transmission” of results.

Addressing demonstrators, Co-Convener of the Situation Room and Country Director of ActionAid Nigeria, Andrew Mamedu, said Nigerians were demanding a clear, mandatory provision that compels real-time electronic transmission of results from polling units without exceptions.

“Our future is in our hands because we voted for these representatives. On behalf of Nigerians, we are stating unequivocally that electronic transmission of results must be mandatory and without conditions,” Mamedu declared.

The coalition argued that the Senate’s version departs from earlier understandings reached during consultations between stakeholders and the Joint National Assembly Committee on Electoral Matters. It warned that inserting discretionary clauses could create legal ambiguities capable of being exploited during elections.

Specifically, the group urged the conference committee reconciling the Senate and House versions of the bill to adopt the House of Representatives’ position making real-time electronic transmission from polling units to the INEC Result Viewing Portal compulsory.

According to the protesters, anything short of mandatory transmission risks reopening controversies that trailed previous elections and could undermine voter confidence in the electoral system.

They also called for the retention of the 360-day election notice timeline contained in earlier drafts of the amendment, stressing that predictable timelines are essential for planning, voter education and logistics.

In a letter presented to lawmakers, the coalition stated: “Instead of strengthening Nigeria’s electoral framework, the Senate amendment weakens key safeguards necessary for credibility and public trust.”

On concerns about network coverage and technical feasibility, the group insisted that real-time transmission is achievable. It cited previous off-cycle governorship elections in states such as Imo, Kogi and Bayelsa, where high transmission rates were recorded.

The coalition dismissed claims that connectivity gaps would cripple the system, noting that telecommunications data show that areas without network access constitute only a small fraction of polling units nationwide. It explained that results are first collated at polling units before being uploaded, and where connectivity is unavailable, the system can securely store data and automatically transmit once network access is restored.

Civil society organisations also faulted remarks attributed to the Senate President questioning the practicality of real-time transmission, maintaining that the infrastructure and technology required are already in place.

At the rally, women’s advocacy groups broadened the protest, calling for the expedited passage of the special seats bill for women as part of ongoing constitutional amendments. They argued that electoral integrity must go hand in hand with inclusive representation.

Responding on behalf of the House of Representatives, spokesperson Akin Rotimi assured protesters that their concerns would be conveyed to the leadership of the chamber. He said the Speaker supports the amendment, while the Deputy Speaker is among its sponsors.

Rotimi acknowledged the low representation of women in the legislature as a “serious injustice” and pledged that constitutional amendment proposals, including provisions for reserved seats for women, would be subjected to electronic voting.

Despite the assurances, the Situation Room vowed to sustain advocacy until a final version of the bill guarantees compulsory, real-time electronic transmission of results and restores what it described as the “spirit of reform” demanded by Nigerians.

“This is about protecting the people’s mandate,” the protesters said. “We will not relent until the law reflects the will of the citizens.”

Civil Society Escalates Pressure on Senate Over ‘Conditional’ Electronic Transmission Clause

Continue Reading

Trending

Verified by MonsterInsights