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Investor Roadshow to Hold in Nigeria to Attract US Investment to Nigeria

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Investor Roadshow to Hold in Nigeria to Attract US Investment to Nigeria

By: Michael Mike

The United States government, through the U.S. Agency for International Development (USAID) Mission in Nigeria and U.S. government Prosper Africa and Power Africa initiatives, are hosting an investor roadshow from October 9-13 to expose U.S. investors to investment opportunities and the investment ecosystem in Nigeria.

A statement on Friday by the United States Diplomatic Mission to Nigeria, Public Affairs Section said twelve executives from leading U.S. pension funds and financial service providers, managing over $1 trillion in assets, are meeting with Nigerian companies and fund managers during the investor trip.

The roadshow is expected to raise awareness around investment opportunities in the country, particularly in infrastructure, and to build relationships among U.S. and African investors and fund managers.

The statement read that: “With a strategic geographic location, a diverse population, and a commitment to economic transformation, Nigeria presents a compelling investment destination. Nigeria has the largest economy in Africa, with a gross domestic product (GDP) of USD $477 billion as of 2022, and a diverse range of industries, including oil and gas, agriculture, and telecommunications. A research report published by Goldman Sachs highlighted that Nigeria has the potential to be one of the top five global economies by 2075.

“The roadshow comes at an opportune time, given the significant reforms instituted by the Nigerian government under a new Administration. A key objective of the trip is to break down information gaps on the country’s business environment and real and perceived risks, so that investors can accurately assess business and project opportunities.”

The U.S. Consul General to Lagos, Will Stevens noted that: “Beyond advancing specific investment opportunities, this trip is about building enduring trade and investment relationships between America and our Nigerian partners. I would like to thank the U.S. Agency for International Development for supporting this inaugural delegation of U.S. investors, in partnership with Chapel Hill Denham and International Investor Network.”

According to the statement, throughout the week, the investors are scheduled to participate in site visits, events, and investor pitch sessions in Abuja and Lagos, Africa’s commercial capital and the sub-Saharan Africa region’s fourth largest economy. They will also engage with U.S. Government representatives to understand U.S. trade and investment priorities in the region and learn more about U.S. Government resources available to support investors.

This roadshow advances USAID’s efforts to mobilize greater private sector investment into infrastructure projects in priority sectors including agriculture; water, sanitation, and hygiene; and renewable energy. In addition, it advances Prosper Africa’s mandate as a presidential initiative to transform the economic relationship between Africa and the United States and drive large scale investment to the continent.

The visit follows the “Investing in Development” conference, held earlier this year in Nigeria, which highlighted that greater private sector investment in infrastructure is a key pathway to achieving Nigeria’s development objectives. The trip is part of a series of U.S. institutional investor trips to Africa in 2023, organized under the Prosper Africa initiative, to South Africa, Morocco, Egypt, and Botswana.

Investor Roadshow to Hold in Nigeria to Attract US Investment to Nigeria

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NEDC finance director takes development to improve living conditions of people in Yobe

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NEDC finance director takes development to improve living conditions of people in Yobe.

By: Yahaya Wakili

The Director of Finance and Admin. of the North East Development Commission (NEDC), Dr. Abubakar Garba Illiya, PhD, FMNG, has made numerous achievements in providing infrastructure facilities to improve the living conditions for the people of Yobe State since he was appointed to that position

The developmental projects provided by Dr. Garba Illiya include the construction and rehabilitation of schools, primary healthcare centers, and water supply in both rural and urban areas with a view to improving the livelihoods of the people of Yobe State.

Dr. Abubakar Garba Illiya, PhD, FMNG, also constructed and rehabilitated numerous rural roads in some local government areas across the state to facilitate the movement of goods and services.

However, Dr. Illiya also accords the same commitment to the schools by procurement of instructional materials as well as construction and rehabilitation of schools destroyed by Boko Haram insurgency across the northeast region.

“Dr. Illiya’s intervention, the NEDC, has contributed tremendously to increasing food sufficiency and food security in Yobe State and the North East by procuring farm inputs and implements as well as providing enough fertilizers and tractors to farmers.

He also assisted youths and women with the capital for business with empowerment initiated for self-employment and also distributed foodstuffs and other humanitarian assistance to Internal Displaced Persons (IDPs) affected by the Boko Haram insurgency in the region.

Dr. Abubakar Garba Illiya further sent youths for training in different categories, like training in phone repairs, welding, tailoring, carpentry, and others, to be self-reliant and assisted them with take-off funds for capital businesses.

He made all these achievements with a view to improving the lives of the peoples of Yobe State and the northeast region after recovery from the Boko Haram insurgency destruction.

NEDC finance director takes development to improve living conditions of people in Yobe

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Police neutralise three bandits in Benue , rescue senator after attack on convoy

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Police neutralise three bandits in Benue , rescue senator after attack on convoy

By: Zagazola Makama

The Police in Benue says have neutralised three suspected bandits during a gun battle following the killing of a 67-year-old man in Katsina-Ala Local Government Area of the state.

Security sources said the incident occurred on March 7 at about 7:30 p.m., when armed bandits loyal to a local kingpin identified as “Chen” had abducted one Zaki Sughter Agenbeer, 67, from his residence in Une Tongov community.

The attackers reportedly took the victim into the bush and killed him after accusing him of providing information about their activities to security agencies.

The DPO Katsina-Ala, in collaboration with the DPO Ukum, subsequently mobilised patrol teams and tactical units to the area. Police operatives later engaged the bandits in a gun duel during which three of the suspects were neutralised.

The corpse of the slain victim was recovered and deposited at the Zaki Ibiam Hospital mortuary, while security operatives have commenced a combing operation in nearby bushes to track down other fleeing suspects.

Meanwhile, the police also confirmed an attack on the convoy of Sen. Udende Emmanuel, representing Benue North-East Senatorial District, during a visit to Tsua town in Vandekiya Local Government Area for a church service.

Sources said some youths from Vandekiya allegedly attacked the senator’s convoy and damaged one of the vehicles.

The Divisional Police Officer in Vandekiya quickly mobilised to the scene and successfully rescued the senator from the situation.

In a related development, some youths also disrupted a thanksgiving service at Tsemke Church in Vandekiya, destroying plastic chairs before police intervened.

Police authorities said the swift deployment of operatives helped to de-escalate the tension and restore normalcy in the area.

Additional patrol and tactical teams have been deployed to Vandekiya to ensure law and order and facilitate the arrest of those responsible for the disturbances.

The State Criminal Investigation Department (SCID) has commenced investigations into both incidents.

Police said the general security situation across Benue State remains relatively calm, while security agencies continue monitoring developments.

Police neutralise three bandits in Benue , rescue senator after attack on convoy

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Heavy gun battle in Kukawa in Borno leaves casualties on both sides, arms recovered from camp

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Heavy gun battle in Kukawa in Borno leaves casualties on both sides, arms recovered from camp

By: Zagazola Makama

A heavy gun battle between troops and suspected fighters of the Islamic State West Africa Province (ISWAP) in Kukawa Local Government Area of Borno State has resulted in casualties on both sides, security sources said on Monday.

The clash occurred when insurgents reportedly attacked a military camp, prompting troops to engage in a prolonged firefight. Security operatives said exploitation of the camp is still ongoing.

According to sources, items recovered from the insurgents’ positions within the camp include bandoliers of PKT rounds, one AK-47 rifle, one BHT machine gun, two mortar bombs, and four hand grenades.

Sources noted blood stains and drags outside the camp, suggesting insurgent casualties during the encounter.

In a related development, troops reportedly intercepted an injured BHT fighter in the community who was being brought to the camp. The suspect attempted to escape, prompting additional gunfire, the sources said.

Sources said the situation remains under control, with troops continuing to secure the area and conduct follow-up operations to track remaining insurgents.

Further updates on casualties and operational outcomes are expected as clearance operations continue in the theatre of operations.

Heavy gun battle in Kukawa in Borno leaves casualties on both sides, arms recovered from camp

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