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Our Youths Will Transition Nigeria Into Digital Economy Powerhouse – President Tinubu

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Our Youths Will Transition Nigeria Into Digital Economy Powerhouse – President Tinubu

  • As African countries commit to greater financing, digital access at IDA21 Summit:
  • Resolve to mobilise domestic resources for Africa’s economic transformation

By: Our Reporter

President Bola Ahmed Tinubu declared on Monday that Nigeria is set to harness the potential of its youthful population to transform into a global digital economy powerhouse.

He also hinted at the nation’s plans to become a global hub for outsourcing talent within the digital and creative economy.

This was the submission made by President Tinubu who was represented by Vice President Kashim Shettima at the meeting of African Heads of State and Government on the 21st Replenishment of the International Development Association (IDA21) in Nairobi.

This is just as African Heads of State and Government committed countries on the continent to strengthen implementation capacities, mobilising domestic resources, and partnering effectively with IDA to accelerate the continent’s economic transformation.

President Tinubu also reiterated Nigeria’s plans to build a vast digital market capable of absorbing cutting-edge innovations and technologies, positioning the country as a hub for outsourcing talent in the digital and creative economy spheres.

“Being a young country with a median age of about 18, our interventions in the digital economy have been so extensive that we are no longer boasting of having the most unicorns, but preparing to serve as a global hub for outsourcing talents,” the President stated in his submission titled “The Path to Recovery: Nigeria’s Journey Beyond Sabotage”, which was delivered to the Summit by VP Shettima

President Tinubu informed other African leaders of the sweeping reforms implemented by his administration to curb illicit activities and currency manipulation that had long hindered the nation’s progress.

“Since assuming office, President Tinubu has remained steadfast in fulfilling his promise to end the reign of economic saboteurs who have long exploited and hindered the progress of our nation. I am pleased to report that our economy has escaped the phase of sabotage,” the VP noted.

Alongside the digital transformation agenda, President Tinubu said Nigeria is committed to prioritizing climate resilience and becoming an attractive destination for carbon market investments.

“The tensions resulting from climate-induced disruptions serve as a pressing call to action. The profound impact of climate change on our continent’s security underscores our dedication to transforming innovative concepts from conference discussions into tangible actions. We aim to become an investment-friendly destination for carbon market investments,” the organ was informed.

He expressed Nigeria’s belief that the summit’s communiqué would reflect the collective needs of African and IDA countries, capturing their “nuances, consensus, dreams, and projections.”

President Tinubu listed key priorities for Nigeria’s economic recovery in his administration’s Renewed Hope Agenda, anchored on poverty alleviation, to include economic expansion, job creation, enhanced access to capital, food security, and inclusivity.

He also stressed the importance of regional economic integration through instruments like the African Continental Free Trade Area (AfCFTA) Agreement to dismantle investment barriers and facilitate access to international markets.

“Our path to the future depends on nurturing strategic partnerships with other nations and development organizations. Therefore, we will utilize our absolute and comparative advantages to establish partnerships across borders,” the President said.

Earlier in his opening remarks, the President of Kenya, William Ruto, said the summit was urgent because it was “convened at a critical juncture facing a convergence of global crises which include escalating geopolitical tensions that challenge international unity, a deepening development and debt crisis that threatens our economic stability, and an urgent climate emergency that demands immediate and collective action for our planet’s survival.”

He gave instances of the devastating impact of severe flooding in the East African region which, according to him, has displaced thousands in Nairobi alone, and the vulnerability of the continent to extreme weather patterns, which points to the critical role of the IDA in financing Africa’s development and stability.

“This new normal demands our immediate and united action to safeguard our collective future. This underscores the critical role of IDA for Africa Summit as a cornerstone for financing for Africa. IDA has directed 75% of its total commitment which is nearly $26 billion to Africa in the last fiscal year with African countries comprising 8 of IDA’s top 10 borrowers. This support is not just financial but it’s a lifeline for development and stability,” President Ruto said.

Also speaking, the World Bank President, Ajay Banga, expressed optimism about Africa’s potential, saying “it’s very easy to feel hopeful when we’re together anywhere in Africa,” adding that you feel the infectious energy of young people.”

Banga affirmed the IDA’s commitment to accelerating progress on the continent, vowing to “move with urgency and purpose,” while making the institution more efficient and impactful.

“We stand at the crossroads of a new era of growth and prosperity for Africa,” he said.

At the end of the Summit, African Heads of State and Government adopted a joint communique committing countries on the continent to accelerate the continent’s economic transformation by strengthening implementation capacities, mobilising domestic resources, and partnering effectively with IDA.

They also called for an ambitious replenishment of the International Development Association (IDA) to support the continent’s development goals.

The Nairobi Communique described IDA as Africa’s largest source of concessional financing, outlining priorities for IDA21 to include building human capital, creating jobs, boosting energy and digital access, enhancing resilience to climate change and fragility, and promoting inclusive growth policies.

Our Youths Will Transition Nigeria Into Digital Economy Powerhouse – President Tinubu

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Lula Extends Invitation to President Tinubu to Visit Brazil

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Lula Extends Invitation to President Tinubu to Visit Brazil

By: Michael Mike

A high-level delegation from Brazil, led by Minister of Foreign Affairs, Mauro Viera arrived in Abuja on a visit aimed at boosting cooperation between Nigeria and Brazil in a move towards strengthening bilateral ties between the two countries.

The visit was also used to deliver an invitation of Brazilian President, Luiz Inácio Lula da Silva known mononymously as Lula, to President Bola Tinubu to Brazil in the nearest future.

The bilateral relations between the two nations dates back to Nigeria’s independence in 1960.

During the visit, the Brazilian delegation is expected to engage in high-level talks with Nigerian officials, exploring opportunities for collaboration in areas such as agriculture, energy, and infrastructure development.

The two countries are also expected to sign several agreements aimed at strengthening their bilateral ties.

The Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar, while hosting his Brazilian counterpart in his office on Wednesday, noted that Brazil was the only Latin American country to attend Nigeria’s independence celebration, underscoring the strong historical ties between the two nations.

He said: “We share a lot in common, from our size and economies to our population and culture. This visit is a natural progression of our partnership.”

Tuggar, while citing their robust engagement between the two countries since independence, referenced President Bola Ahmed Tinubu’s visit to Brazil last year, where he attended the G20 summit and engaged in activities to strengthen bilateral ties.

Tuggar emphasized the significance of the visit, saying, “We welcome you and your delegation warmly, and we’re happy to see you here in Abuja.

This visit is a continuation of our efforts to strengthen the bond between our two countries.”

In response, the Brazilian Minister of Foreign Affairs, Ambassador Mauro Viera, recalled his first meeting with Nigerian officials in Dubai in 2023 and the subsequent meeting between President Lula and President Tinubu in Addis Ababa in 2024.

Viera praised President Tinubu’s participation in the G20 summit in Brazil last November, valuing Nigeria’s contributions to the forum.

He also extended an invitation from President Lula for President Tinubu to visit Brazil in the near future.

This visit aims to strengthen bilateral relations, building on previous engagements since President Lula took office in January 2023.

The Brazilian minister emphasized the importance of strategic dialogue and exploring deeper relations in various areas, including culture, economics, cooperation, education, and more.

He highlighted the close contacts between Brazilians and Nigerians, as well as the significant presence of Nigerians in Brazilian society and culture.

He thanked the Nigerian government for hosting the Brazilian delegation and expressed his enthusiasm for a productive day of work to further develop bilateral relations.

This visit marks a significant step in strengthening ties between Brazil and Nigeria, with potential collaborations in trade, investment, and cultural exchange on the horizon.

Lula Extends Invitation to President Tinubu to Visit Brazil

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Nigeria-Korea Trade Hits $2.2bn in 2024 – Amb. Pankyu

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Nigeria-Korea Trade Hits $2.2bn in 2024 – Amb. Pankyu

By: Michael Mike

The Republic of Korea’s ambassador to Nigeria, Kim Pankyu has disclosed that bilateral trade between Nigeria and Korea increased by 38.6 per cent in 2024, reaching over $2.2 billion.

Pankyu disclosed this in Abuja on Wednesday during a press briefing to mark the 45 years anniversary of bilateral relations between the two countries.

The envoy, who arrived Nigeria a year ago in the role, said that since his arrival, the relationship between Korea and Nigeria had grown significantly.

Pankyu, while disclosing that Nigeria is now Korea’s most important trade partner in Africa, noted that his country has not stopped working at improving trade and investment relations with Nigeria.

He said: “Nigeria remains Korea’s most important trade and investment partner in Africa and accounts for 10 percent of Korea-Africa trade and over 70 per cent of Korea’s project and contract in Africa.

“In 2024, our bilateral trade increased by 38.6 per cent, reaching over 2.2 billion USD.

He also said his country was eyeing more security collaboration with Nigeria, saying: “With 40 years of experience in military and security affairs, I am committed to enhancing our security collaboration, in particular, maritime security in the Gulf of Guinea is critical for both Nigeria and transit countries like the Republic of Korea.”

“We are committed to increasing Korea’s support for capacity building in the Nigerian military and security sectors. Additionally, we hope to finalise the defense industry cooperation’s MOUs that have been under discussions for some time.

The ambassador, while noting that his country had made several contributions to Nigeria in the past year, said such contributions demonstrate the mutual trust and friendship between Korea and Nigeria.

He assured that: “As ambassador, I will continue working to facilitate our long-standing partnership for the years ahead.”

Nigeria-Korea Trade Hits $2.2bn in 2024 – Amb. Pankyu

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AU Condemns Attempt to Create Parallel Government in Sudan

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AU Condemns Attempt to Create Parallel Government in Sudan

By: Michael Mike

The African Union (AU) has condemned the proposed plan of the Sudanese militant group, Rapid Support Forces (RSF) to form a parallel government in war torn Sudan.

AU in a statement asked RSF and its affiliated political and social forces against the establishment of a parallel government in the Republic of Sudan, and warned
that such action carries a huge risk of partitioning of the country.

The Council called on all AU Member States and the international community not to recognize any parallel government or entity seeking to partition and govern any part of the territory of the Republic of Sudan or its institutions; and further called on all Member States and the international community to refrain from recognizing and/or providing support or assistance to any armed or political group toward the establishment of a parallel government or state entity in the Republic of Sudan.

The statement added that: “Council does not recognize the purported parallel government or entity in the Republic of
Sudan.

“Council reaffirmed its commitment to the preservation of the sovereignty, unity, and
territorial integrity of the Republic of Sudan, and the peaceful resolution of the current devastating conflict, which has created the world’s largest humanitarian crisis, causing the displacement of over 12 million Sudanese civilians.

“Council called on all parties to heed the calls for a ceasefire and unhindered humanitarian access during this holy month of Ramadan and to commit to comprehensive and inclusive peace talks
to end the conflict once and for all and restore the unity of the Sudanese state.
Council reaffirmed the AU unwavering commitment to continue to collaborate with all Sudanese stakeholders towards finding viable and durable solutions towards silencing the guns permanently in Sudan, based on the AU Roadmap for the Resolution of the Conflict in Sudan, which
was adopted by the PSC at the Heads of State and Government level on 27th May 2023; and urged the need to the resumption of the process of the restoration of constitutional democratic order, through
the AU/IGAD-convened Political Dialogue process with political and civil actors and the implementation of the Jeddah Declaration signed by both parties, the Sudanese Armed Forces (SAF)
and the RSF, on 11 May 2023; in this respect, Council underscored the imperative to continue to prioritize the six (6) pillars of the AU Roadmap particularly the call for a comprehensive and inclusive ceasefire, humanitarian access and a swift political resolution of the conflict.”

The AU expressed its support for the efforts of both the PSC Ad-hoc Presidential Committee and the High-Level Panel on Sudan to seek a consensual political solution to this crisis, which threatens
the sovereignty and integrity of the Republic of Sudan.

Responding to the statement by the AU,
Sudan’s Ministry of Foreign Affairs
Office of the Spokesperson and Media Directorate said the statement was received with keen appreciation.

It said it “welcomed the press statement issued by the African Union Peace and Security Council (PSC) following its meeting
today. The statement included a clear and unequivocal condemnation of the announcement made by the RSF militia and its affiliates regarding the establishment of a parallel government and expressed grave concern about this move, warning of the huge risks it poses to the unity of Sudan and the potential for its partitioning.”

The PSC confirmed that it does not recognize the purported parallel government, reiterating its
commitment to preserving Sudan’s sovereignty, unity, and territorial integrity.
This strong position reflects the full commitment to the principles upon which Pan-Africanism has been founded, as expressed in the Constitutive Act of the African Union, and previously in
the Charter of the Organisation of African Unity, the Charter of the United Nations, and all the rules upon which the contemporary international system is based. The most important of these
principles are the preservation of state sovereignty, unity, and territorial integrity, and the rejection of interference in the internal affairs of states.

It added that: “This principled and decisive position from the continental mother organisation underscores the
international community’s total rejection of the conspiracy of the genocidal RSF militia and its regional sponsor, along with those who follow its directives in the region, against the unity and sovereignty of Sudan.

“This has been expressed in the statements of the United Nations Secretary-General, the United Nations Security Council, the Arab League, the International
Conference on the Great Lakes Region, the EU, and the brotherly countries and influential members of the international community.

“Sudan renews its appreciation for these clear positions that are consistent with international law, which constitute strong support to the Sudanese people and their national institutions in defending their sovereignty, unity, dignity, and independence.”

In his words, the media officer of Sudan Embassy in Nigeria, Almoiz Mohamed said the statement from AU emphasized Sudan’s sovereignty and rejected any separatist attempts that threaten its unity. It called for a firm response to these moves and the isolation of any arrangements that would undermine the country’s sovereignty and integrity.

He said: “We appreciate this responsible stance and commend the courage of member states in taking this decision, which strengthens the unity and partnership of African countries, in line with the common charters and principles upon which the African Union is based.”

AU Condemns Attempt to Create Parallel Government in Sudan

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