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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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CDCFIB: Jibrin Takes Over as Ja’afaru Bows Out as Secretary

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CDCFIB: Jibrin Takes Over as Ja’afaru Bows Out as Secretary

By: Michael Mike

Major General Abdulmalik Jibrin (Rtd.) has taken over as the Secretary to the Civil
Defence Correctional Fire and Immigration Services Board (CDCFIB) following his
recent appointment by President Bola Ahmed Tinubu.

The handover ceremony took place at the board headquarters on Monday. He took
over from his predecessor Alh. Ja’afaru Ahmed, who was once the Controller General, Nigeria Correctional Service (NCoS).

In his remarks, the outgoing Board Secretary thanked Mr. President for finding him worthy to serve within the shortest period.

He pointed out that through the able leadership of the Minister of Interior/Chairman of the Board, Hon. Olubunmi Tunji-Ojo, he was able to secure presidential
approval for some of the reforms, amongst which includes the independence of the
Board Secretariat thus allowing the Board to recruit its own staff.

He urged staff of the Board Secretariat to accord all the necessary support needed
for the incoming secretary to succeed.

Abdulmalik, on his part, thanked the Almighty Allah and Mr. President for the opportunity to serve the Secretary of the Board.

He assured the staff of the Board Secretariat of his commitment to build on the laid down reforms of his predecessor.

In his vote of thanks, the Chairman of the Board Union, Comrade Gbadamasi
Saheed, thanked the outgoing Secretary for his leadership qualities and pledged the
support of the Board staff to the incoming Board Secretary to have seamless tenure
in office.

CDCFIB: Jibrin Takes Over as Ja’afaru Bows Out as Secretary

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EU Explores Prospects of Hydropower Generation in Plateau

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EU Explores Prospects of Hydropower Generation in Plateau

By: Michael Mike

The European Union (EU) is exploring the potential for small hydropower generation in partnership with Plateau state government.

This was disclosed by the Head of Green and Digital Economy at the EU Delegation in Nigeria and ECOWAS, Inga Stefanowicz during the delegation’s visit to the state to assess the Assop falls which is being speculated has having a potential to generate about 2MWp of electricity.

According to her, the EU is in partnership with the federal ministry of power in driving the diversification of electricity generation to other renewable energy sources like small hydro power to provide clean, safe, affordable, and renewable energy sources to the people of Plateau state, to power, agro processing activities, productive use of energy and boosting the economy of the state.

She further disclosed that the EU is working with the Plateau state government and other stakeholders to evaluate the technical, financial, and environmental feasibility of the small hydropower site. “Plateau State, with its rich agricultural potential, could benefit greatly from reliable energy, boosting crop production and agro-processing,” she said.

In his address, the Managing Director of the Plateau State Energy Corporation, Ponzing Gamde, stated that the United Nations Industrial Development Organization (UNIDO), the implementer of the project on behalf of the European Union, is conducting a feasibility study to determine the potential capacity of the hydropower project. “UNIDO is currently conducting a feasibility study here. They have done their preliminary data collection and will now come up with a design to know the potential capacity that can be generated from here,” he said.

Further highlighting the benefits of the project, Gamde said, “With this power, there will also be an improvement of cultural activities. The power will ensure activities don’t stop at certain points.”

A member of the Plateau State House of Assembly, Hon. Engr. Owen Karyit Dagogot, expressed full support for the project, saying, “This place is going to be utilized to its full potential. It is an advantage because you already have a solid ground. Foundations are openly on firm ground.”

Director of Technical Services at the Plateau State Energy Corporation, Sam Gyang Yakubu, spoke about the technical aspects of the project. He noted that while the dam construction typically takes time, the timeline for this project could be as short as two to three years. “Evacuation is not going to be a challenge here, based on the way we have set up the whole layout,” he said.

A representative of the Federal Ministry of Power, Dina Temitope, highlighted the national significance of the project. “For us at the ministry, we’ve had this vision 30:30, which is generating 30 gigawatts of electricity by 2030, with 30 percent of our energy needs coming from renewable sources,” he said.

Programme Manager, Energy and Circular Economy, EU Delegation to Nigeria and ECOWAS, Godfrey Ogbemudia, reaffirmed the EU’s commitment to sustainability, saying, “We want to be sure that EU taxpayers’ money is fully utilised. It’s not a donation. You could transport all the power from here to any other agricultural hub where pre-processing is happening within the state”

Harping on the importance of continued collaboration, Head of GIZ’s Sustainability Energy Access component, Eckhard Heine, said, “We are in dialogue with the National Electricity Regulatory Commission (NERC), to disseminate the information they have, so we can engage the state level effectively.”
Technical Adviser at GIZ, Alexander Akolo, noted that the Governor of Plateau state, Caleb Manasseh Mutfwang, recently passed the State Electricity Law, which contains areas for improvement. “We can support reviewing it (the Law) because of the support in developing other instruments like mini-grid policy for the state.”

EU Explores Prospects of Hydropower Generation in Plateau

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NEMA’s Efforts in Addressing Tanker Fire Incidents in Nigeria and the Need for Stakeholder Collaboration

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NEMA’s Efforts in Addressing Tanker Fire Incidents in Nigeria and the Need for Stakeholder Collaboration

Tanker fire incidents in Nigeria have caused significant loss of lives and property, creating a pressing need for proactive solutions. The National Emergency Management Agency (NEMA), under the leadership of the Director General, Mrs. Zubaida Umar, has been at the forefront of addressing these challenges through various initiatives, including prevention strategies, emergency response, and public awareness campaigns. However, for these efforts to achieve sustained impact, there is a critical need for stakeholders to complement NEMA’s efforts.

NEMA’s Initiatives

  1. Training and Capacity Building:
    NEMA has organized training programs to equip grassroots volunteers, community members, and members of the Tanker Drivers Association with skills to prevent and respond to tanker accidents. For example, in December 2024, NEMA trained community volunteers across the country on fire safety and accident prevention strategies, especially in areas prone to fire disasters during the harmattan season.
  2. Collaboration with Key Agencies:
    The agency collaborates with the Federal Road Safety Corps (FRSC) and the Fire Service to manage and prevent tanker crashes, focusing on providing emergency services and relief to victims.
  3. Emergency Relief and Assistance:
    NEMA has consistently responded to tanker fire incidents by distributing relief materials to affected victims and coordinating with first responders to address immediate needs.
  4. Public Awareness Campaigns:
    Advocacy and education remain central to NEMA’s work. The agency emphasizes the need for communities to adopt safety measures, including the use of anti-spill locks on fuel tankers. Additionally, NEMA actively discourages citizens from scooping spilled fuel from accident scenes, a dangerous practice that often leads to fatalities during tanker fire incidents. The agency’s campaigns educate the public on the risks of explosions and emphasize the importance of evacuating such scenes immediately.

The Role of Stakeholders in Complementing NEMA’s Efforts

While NEMA’s interventions are commendable, the scope and complexity of the issue require the active involvement of multiple stakeholders.

  1. Government Agencies:
    Ministries of Transportation and Petroleum should enforce stricter regulations on tanker operations, including vehicle roadworthiness, proper licensing, and driver training programs.
  2. Oil and Gas Companies:
    These companies must ensure that tankers are equipped with modern safety technologies, such as anti-spill locks and fire suppression systems. They should also invest in emergency response training for drivers and transport personnel.
  3. Tanker Owners and Operators:
    Private sector stakeholders, including the Tanker Drivers Association, should ensure compliance with road safety standards and promote routine maintenance of vehicles.
  4. Community Organizations:
    Grassroots organizations can play a critical role in sensitizing local communities about the risks of tanker fire incidents and how to respond effectively during emergencies.
  5. Legislators and Policymakers:
    Laws mandating the adoption of safety measures and imposing penalties for negligence can create a culture of accountability among tanker operators.
  6. The Media:
    Media outlets should amplify awareness campaigns, highlighting the dangers of unsafe practices, such as scooping fuel from accident sites, and promoting NEMA’s preventive initiatives.

Conclusion

Tackling recurring tanker fire incidents in Nigeria is a collective responsibility. While NEMA has laid a solid foundation through its proactive efforts, the active involvement of stakeholders from various sectors is essential to achieve long-term safety and resilience. Collaboration will not only reduce the frequency of tanker-related disasters but also save lives and protect communities across the nation.

Press Unit
NEMA Headquarters, Abuja
3rd February 2025

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