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ECONOMIC DIVERSIFICATION

Published

2 years ago

November 14, 2023

Ochuwa Ibrahim

ECONOMIC DIVERSIFICATION:

We’ll Prioritize Digital Technology, Clean Energy, Others Under Tinubu – VP Shettima

By: Our Reporter

Vice President Kashim Shettima has said Nigeria’s huge potentials in digital technology, the outsourcing industry and the clean energy sector will continue to incentivize investments in its energy transition plan and agenda to diversify the economy.

He stated this on Monday when he received Denmark’s Minister for Development Cooperation and Global Climate Policy, Mr Dan Jorgensen, on a courtesy visit to the presidential villa.

Shedding light on Nigeria’s climate objectives under the administration of President Bola Ahmed Tinubu, the Vice President noted that investments in digital technology, clean energy and other sectors had become a priority as a result of the dwindling fortunes of the oil economy.

Sen. Shettima said, “We are facing challenges but where there is a will, there is a way. The President is a man imbued with passion, intellect and capacity to lead the nation on the path of prosperity and progress. He really wants to bring a new lease of life to the Nigerian nation because if Nigeria works, Africa works.

“Oil will still be relevant because of its other derivatives for the next decades but as the primary driver of the economy, the role of oil will diminish in the coming years. This is why it is a priority for us to think out of the box to find alternatives. This is why we are looking for investments in digital technology, clean energy and other sectors. We have a lot of opportunities for partnership and collaboration.”

VP Shettima identified the strength of Nigeria’s population as a huge resource for the transformation of Africa, noting that the continent’s transformation could be fast-tracked by green and sustainable energy.

Soliciting the support of the Danish Government and the Global Centre on Adaptation for Africa and Nigeria’s Climate Action, the VP maintained that “once there is sustainable energy, the people of the continent will key into Africa’s development aspirations.

“So, I will solicit your understanding and support to save Africa,” he added, stating that the support of the Centre is necessary to accelerate climate action and fast-track adaptation to solutions, focusing on the most vulnerable people in Africa.

The Vice President commended Denmark for its leading role in global climate action, while soliciting the support of the government of that country.

“With our shared humanity, we are facing real existential threats but we are very proud of Denmark because of its climate consciousness. You are doing well. There is room for us to have a mutually beneficial partnership,” he stated.

VP Shettima further delved into the political instability in parts of West Africa, saying Nigeria has taken a firm position against military coups and to defend the cause of democracy and human rights, noting that “Nigeria is actually the beacon of hope and stability in a turbulent region.”

Earlier, the Danish Minister for Development Cooperation and Global Climate Policy, Jorgensen, expressed his admiration for Nigeria’s leadership and commitment to climate sustainability.

He noted that Nigeria’s leadership role in addressing regional stability and its commitment to a just energy transition present significant opportunities for further collaboration between Denmark and Nigeria.

“We cherish the relationship between Denmark and Nigeria very highly. We are extremely impressed with the agenda of the new administration. You are definitely showing leadership in the way you are facing the challenges of your country,” Jorgensen said.

Emphasising the shared understanding between Denmark and Nigeria on the importance of climate action, he said, “We also share a common understanding that common understanding and climate sustainability is a political question that is not only noble but also working.”

The Danish Minister commended Nigeria’s stability and positive influence in a region often facing challenges. “I also want to commend Nigeria for being a stable country doing a lot of positive difference in a region that is sometimes challenging,” he stated.

Jorgensen drew a stark contrast between Nigeria’s stability and the recent coup experienced in neighboring Niger, saying, “Just six months ago, I visited Niger Republic and we signed a memorandum of understanding with the President; only for a few weeks later, the country experienced a coup.”

Applauding Nigeria’s role in advocating for the restoration of civilian rule in Niger, he said, “We definitely commend Nigeria’s role in trying to put pressure on the coup leaders with regards to reinstating the civilian government”.

He expressed optimism about the future of collaboration between Denmark and Nigeria on energy transition, citing the memorandum of understanding to be signed between the two countries, just as he emphasised the importance of ensuring a just transition in the shift towards renewable energy sources.

“At the core of this is the question of how do we make this a just transition; how do we make sure that the people that are dependent on oil and gas don’t lose their jobs there?” He inquired.

To ensure a just transition, Jorgensen advocated a regular assessment of the needs of vulnerable groups, stressing that “the needs of poor, vulnerable and marginalized groups must be assessed regularly to ensure reliable access to clean energy at affordable prices”.

He implored Vice President Shettima to ensure that the memorandum of understanding is signed to serve as a framework for future collaboration between Norway and Nigeria on energy transition.

Also speaking, Nigeria’s Minister of Art, Culture and Creative Economy, Hannatu Musawa, said the ministry is using messaging to take forward a lot of the initiatives that the government has put on ground.

“When we talk about climate change, we should be responsible enough to keep the preservation of the world for the next generation to benefit from it.

“Climate change is at the very top of our agenda as a government, especially now that Nigeria is at the precipice of being at the very top. We want to see how Nigeria and the Danish government can have cross-collaboration in this regard and also intercultural collaborations,” she said.

Present at the meeting were Amb. Sune Krogstrup, Canadian Ambassador to Nigeria; Amb. Ole Thonke, Understand-Secretary of State; Sandra Sichlau, Private Secretary to the Minister; Mr Ketil Karlsen, Head of Africa Department and Ida Krogh Mikkelsen, Special Adviser, among others.

ECONOMIC DIVERSIFICATION

News

Gunmen abduct 15 passengers, kill one in Benue

Published

16 minutes ago

February 10, 2026

Ochuwa Ibrahim

Gunmen abduct 15 passengers, kill one in Benue

By: Zagazola Makama

Armed men dressed in military uniforms have abducted 15 passengers and killed one person during an attack on a commercial bus in Okpokwu Local Government Area of Benue State.

Sources confirmed on Tuesday that the incident occurred on Sunday at about 7:30 p.m. at Ado-Okpoga, along the Oju–Ado-Ekiti route.

The sources said the bus, a Hummer vehicle driven by one Gbenga Peter, 35, was travelling from Oju LGA in Benue to Ado-Ekiti in Ekiti State with 23 passengers on board when it was intercepted by nine armed men.

“On reaching Ado-Okpoga, the bus was attacked by nine unknown armed bandits wearing army uniforms. Fifteen passengers were abducted into the bush,” the sources said.

During the нападение, one passenger, identified as Idiku Meshak Ogbete, 22, was shot dead. The driver and eight other passengers managed to escape and later reported the incident at Okpokwu Police Station.

The Divisional Police Officer (DPO) in Okpokwu was said to have immediately mobilised patrol teams alongside other tactical units, including Operation Whirl Stroke, the Benue State Civil Protection Guards and other security agencies.

“The corpse of the deceased has been removed and deposited at the mortuary in Okpoga. A coordinated search of the surrounding bushes is ongoing to track the suspects, effect arrests and rescue the abducted victims,” the sources added.

Gunmen abduct 15 passengers, kill one in Benue

News

Lagos Moves to Build West Africa’s Leading International Financial Centre

Published

21 hours ago

February 9, 2026

Ochuwa Ibrahim

Lagos Moves to Build West Africa’s Leading International Financial Centre

By: Michael Mike

Lagos State has taken a major step toward repositioning Nigeria as a global investment destination with the unveiling of a comprehensive roadmap to establish a Lagos International Financial Centre (LIFC), envisioned as the leading financial hub in West Africa.

The roadmap is contained in a new report titled “Establishing an International Financial Centre in Lagos (LIFC), Nigeria”, produced by TheCityUK in collaboration with the UK Government, Lagos State Government, the Lagos International Financial Centre Council (LIFCC), and EnterpriseNGR. The report was formally launched at the State House, Marina, Lagos.

The high-level event attracted senior government officials, diplomats, and private sector leaders, including Lagos State Governor Babajide Sanwo-Olu, British Deputy High Commissioner to Nigeria Jonny Baxter, EnterpriseNGR Chairman Aigboje Aig-Imoukhuede, and EnterpriseNGR Chief Executive Officer Obi Ibekwe.

The initiative is aligned with Nigeria’s Agenda 2050 and the Lagos State Development Plan 2052, positioning the LIFC as a long-term catalyst for economic transformation. According to the report, the proposed financial centre will deepen capital markets, mobilise international investment, drive innovation, and support sustainable economic growth across Lagos, Nigeria, and the wider West African region.

The report underscores the importance of strong public-private collaboration, noting that Lagos’ demographic advantage, expanding financial ecosystem, and strategic location make it well-suited to host an international financial centre that meets global standards.

One of the report’s core recommendations is the creation of an independent IFC framework for Lagos. This model would provide regulatory certainty, simplified tax and policy regimes, and a transparent governance structure aimed at improving investor confidence and enhancing Nigeria’s competitiveness in global finance.

To differentiate Lagos from other emerging financial centres, the report identifies three priority sectors for initial focus: green and sustainable finance, fintech and financial innovation, and commodities trading and capital markets. These sectors are considered critical to Nigeria’s future economic diversification and resilience.

The report also highlights the need for robust legal and regulatory reforms, calling for close coordination between Lagos State, the Federal Government, regulators, and the private sector to ensure smooth implementation of the LIFC vision.

Human capital development is another key pillar of the strategy. Recommendations include strengthening local talent pipelines, easing visa requirements for international professionals, and creating an enabling environment that supports skills transfer and high-value job creation for Nigeria’s growing youth population.

In addition, the report proposes competitive and targeted tax incentives, streamlined business processes, and investment-friendly policies designed to attract long-term capital aligned with national development priorities.

Speaking at the launch, Governor Babajide Sanwo-Olu reaffirmed Lagos State’s commitment to the project, describing the International Financial Centre as essential to boosting market competitiveness and facilitating seamless trading.

“Lagos is Nigeria’s largest economic and financial centre, and we must create an ecosystem that attracts investment, improves liquidity, and strengthens market infrastructure,” the governor said, adding that the LIFC would unlock new opportunities for public-private partnerships in technology and capital market development.

British Deputy High Commissioner Jonny Baxter said the report reflects the deepening UK-Nigeria partnership, combining Lagos’ strengths with UK expertise to support financial sector development.

He noted that, if effectively implemented, the LIFC could unlock significant domestic and international investment, expand capital markets, create jobs, and promote sustainable growth beyond Lagos State.

Also speaking, TheCityUK’s Managing Director for International, Nicola Watkinson, described Nigeria as a high-growth market with strong long-term potential. She said the LIFC could play a vital role in attracting global capital, supporting fintech and green finance innovation, and creating high-value employment opportunities for young Nigerians.

With the launch of the report, stakeholders say the focus now shifts to implementation, as Lagos seeks to translate vision into action and establish itself as a globally competitive financial centre for West Africa.

Lagos Moves to Build West Africa’s Leading International Financial Centre

News

Transcorp Hilton Abuja Curates All-Inclusive Valentine Weekend Experience

Published

22 hours ago

February 9, 2026

Ochuwa Ibrahim

Transcorp Hilton Abuja Curates All-Inclusive Valentine Weekend Experience

By: Michael Mike

As Valentine’s Day approaches, Transcorp Hilton Abuja is set to transform into one of the capital’s premier destinations for romance and social experiences, unveiling an all-inclusive lineup of activities designed for both couples and singles.

This was disclosed in a statement issued at the weekend by the hotel’s Communications and Marketing Manager, Ms Ijeoma Osuji, who said the iconic hospitality brand will host a three-day “Valentine Weekend Package” from February 13 to 15.

According to the statement, the experience is designed to cater to a wide range of guests, from long-term couples seeking a romantic getaway to individuals looking to connect and celebrate the season of love in a vibrant social setting.

For visitors seeking a complete escape, the hotel is offering a bespoke room package that combines luxury accommodation with carefully curated romantic add-ons, promising a serene retreat from the city’s bustle alongside world-class hospitality.

The weekend programme features a diverse mix of entertainment and lifestyle experiences. Among the highlights is the “Signature Couples Event,” a grand and intimate gathering featuring a specially curated Valentine menu, games, music, and comedy performances.

Guests can also look forward to “A Night of Humour,” a comedy showcase featuring top-tier entertainers, aand“Theatre Magic on Stage,” a specially curated romantic stage play designed to engage audiences through powerful storytelling and emotional connection.

For culinary enthusiasts, the hotel will host Dual Restaurant Experiences, with its signature outlets; Zuma Grill and Bukka Restaurant, offering exclusive Valentine-themed dining packages tailored to diverse tastes.

Breaking away from the traditional focus on couples, the hotel is also introducing a Poolside Party for Singles, providing a chic, lively atmosphere for Abuja’s social crowd to mingle under the stars, accompanied by music and refreshing cocktails.

To help guests capture lasting memories, professional couples’ photography sessions will also be available, allowing visitors to document their special moments against the hotel’s scenic backdrops.

“We wanted to create a weekend that wasn’t just a meal, but a memory,” the hotel’s management said in the statement. “Whether it’s through laughter at our comedy special or a beautiful moment captured during a photo session, our goal is to celebrate love in all its forms.”

Reservations for the Valentine Weekend Package are now open, with organisers confident that guests will experience a memorable, immersive celebration at what remains one of Abuja’s most vibrant social hubs.

Transcorp Hilton Abuja Curates All-Inclusive Valentine Weekend Experience