Connect with us

News

President Tinubu’s Reforms Massively Opening New Investment Opportunities, Says VP Shettima

Published

on

President Tinubu’s Reforms Massively Opening New Investment Opportunities, Says VP Shettima

*Assures Abu Dhabi – Beijing Consortium of economic stability, transparency

By: Our Reporter

The Vice President, Senator Kashim Shettima, has restated Nigeria’s readiness to do business with the rest of the world, saying that the ongoing reforms undertaken by the administration of President Bola Ahmed Tinubu across different sectors are opening new opportunities for investment.

“There is no better time to invest in Nigeria. You have come at the right time, where we have been blessed with committed leadership,” he declared.

The Vice President stated this on Tuesday when he received a delegation from the Advanced Energy Partners (AEP) led by chairman of the consortium, Senator Abu Ibrahim, on a courtesy visit to the Presidential Villa.

Senator Shettima, who outlined the abundant resources and potentials across Nigeria, said the Tinubu administration, through specific policies and interventions, is creating the enabling environment for the economy to grow and attract foreign direct investments.

“Be rest assured that you have invested your trust in the right nation. Nigeria is ready for business. We have crossed the Rubicon and are now on the path of sustainable development,” he told the delegation.

Earlier, leader of the delegation, Senator Abu Ibrahim, said the team was on ground in Nigeria to, among other things, explore major opportunities for investment in the upstream oil industry and sectors of the economy.

For his part, the Vice President of China North Industries Corporation (NORINCO), Mr QIANG Wenyu, said the visit was in furtherance of an earlier meeting with President Tinubu in September 2024 in Beijing, just as he reiterated the company’s commitment to collaborating with Nigerian partners in key sectors of the nation’s economy.

He said the company was prepared to fulfill its earlier pledge to deepen cooperation and expand its operations in Nigeria, noting that “for the past one year, we have been acting on that.”

He listed NORINCO’s core areas of operations to include energy, oil & gas, defence industries and mining, among others, noting that the company’s annual turnover grew last year to $30 billion, maintaining a strong reputation in its core fields of operations.

For her part, the CEO of Horizon Energy Abu Dhabi, Ms. Mahra Rashed Al Suwaidi, applauded the leadership of President Tinubu, attributing the company’s renewed interest to invest in Nigeria to the country’s current leadership.

She added that the firm’s confidence in the current administration is reflected in the management of key institutions, including the Nigerian National Petroleum Company Limited (NNPC), among others.

In the same vein, the UAE Ambassador to Nigeria, Salem Saeed Musabbeh Al Shamsi, urged the consortium to waste no time in investing in Nigeria, describing the country as the “right place” for foreign investment.

Noting that the Tinubu administration is the “right government,” he said it has strengthened Nigeria’s economic and bilateral ties with the UAE, leading to non-oil trade between both countries amounting to $4.3 billion in 2024.

Also present at the meeting were the CEO of AEP, Mr Shakiru Olayinka; Mr Abiye Membere from AEP; Mr HU Keyu from China Zhenhua Oil Corporation; Mr XU Yongfeng from Beijing Auxin Chemical Technology Corporation, and Mr LIANG Hongda from NORINCO African Dept, among others.

President Tinubu’s Reforms Massively Opening New Investment Opportunities, Says VP Shettima

Continue Reading
Click to comment

Leave a Reply

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

News

NESREA Shuts Sunseed Oil Facility in Zaria Over Air Pollution Violations

Published

on

NESREA Shuts Sunseed Oil Facility in Zaria Over Air Pollution Violations

By: Michael Mike

The National Environmental Standards and Regulations Enforcement Agency (NESREA) has ordered the closure of the Sunseed Oil processing plant in Zaria, Kaduna State, following findings of severe air pollution linked to the facility’s operations.

NESREA said the action was taken after investigations confirmed that the plant was emitting harmful pollutants into the atmosphere in breach of the National Environmental (Air Quality Control) Regulations.

The regulations require industries to install effective pollution control systems and adopt cleaner production methods to minimize environmental and health risks.

A statement by the agency’s spokesperson, Nwamaka Ejiofor on Tuesday, said the level of emissions from the Sunseed Oil facility posed a direct threat to the surrounding environment and residents in nearby communities, prompting immediate intervention to halt further damage.

She noted that the enforcement exercise reflects the agency’s resolve to ensure that industrial operators comply with environmental standards and to protect the public from the dangers associated with uncontrolled industrial emissions and effluents.

Commenting on the development, the Director-General of NESREA, Prof. Innocent Barikor, warned companies operating across the country to adhere strictly to national environmental laws.

He stressed that the agency would continue to take decisive action against facilities whose operations endanger public health or degrade the environment.

NESREA reiterated its commitment to regular monitoring and enforcement, noting that environmental protection remains a critical component of sustainable development in Nigeria.

NESREA Shuts Sunseed Oil Facility in Zaria Over Air Pollution Violations

Continue Reading

News

Atiyaye unveils a book on the history of Kukar-Gadu

Published

on

Atiyaye unveils a book on the history of Kukar-Gadu

By: Yahaya Wakili

Millions of naira were realized at the Unveiling Potentials of Kukar-Gadu, Launching of History of Kukar-Gadu Book, Presentation of Kukar-Gadu Physical Development Plan, and Commissioning of Kukar-Gadu Empowerment Development Initiative at Kukar-Gadu town of Yobe state.

In his keynote address, the Chairman of the Kukar-Gadu Empowerment Development Initiative (KEDI), TPI, Barnabas Atiyaye, said the Kukar-Gadu Empowerment Development Initiative was triggered by Victim Support Funds’ (VSF) proactive intervention activities chaired by Gen. T. Y. Danjuma from inception to its closure in 2024.

He said through KEDI, we aim to create opportunities where there was once struggle to restore hope, where there was once despair, and to build bridges where there was once division. We are resolved to work for a Kukar-Gadu that is empowered, self-reliant, forward-looking, and united. We desire to be a springboard for the development of not only the Kukar-Gadu or Fika local government area, but the entire Yobe state and, by extension, the nation.

Mr. Barnabas revealed that the master plan of Kukar-Gadu is more than a technical document; it is a covenant with the future, a clear roadmap that defines how we as a community shall shape the physical, social, and economic destiny of our community, and it will also provide guidance for infrastructure, housing, agriculture, education, commerce, and environmental sustainability.

“The history of Kukar-Gadu” is more than a collection of dates and events. It is the story of our fathers, their struggles, their courage, their triumphs, and their faith. It tells of the foundations upon which we now stand, and in commissioning this book, we are not only honoring our past, we are preserving it for generations yet unborn.

Atiyaye appeals to individuals, schools, libraries, and government institutions to obtain copies of this book; it serves as a source of knowledge and inspiration for our youth so that they may know their roots and carry our values forward with pride. We pray that this book will keep alive the spirit of unity, courage, and progress that defines Kukar-Gadu. Ameen.

Speaking, the Chairman of the occasion, Dr. Ali Adamu Tikau (Talban Tikau), ably represented by Professor Dauda Abubakar, said that to have the Emir of Fika, along with the Emir of Pataskum, along with representatives of His Excellency, Governor Mai Mala Buni, CON, COMN, the representative of the Senator of the National Assembly, and many other personalities to come to this village in the Fika local government area, I will say that we are so excited and very proud of what is happening today.

He said the launching of the history of Kukar-Gadu is also a milestone at the program, and it is one of the highlights. It was a book written by Malam Ibrahim Sara Bangalu, who is also a son of Kukar-Gadu, and I had the opportunity of editing the book and making the necessary corrections before it was taken to press. It is a history that will help us reflect on who we are as a people. When a people do not know their history, when a people do not know where they come from, they will easily get lost. That is the purpose of launching.

“I would say that Kukar-Gadu, Goya district, Fika local government, and Gudi are places that are very special because of the type of educated people they have produced. I am a product of this community, and I am a living testament to the opportunities this community gave me, and I believe many are benefiting from it.

Also speaking, the district head of Goya, Alhaji Musa Garba Daya, said what the people of Kukar-Gadu did has become a big challenge to all the people of Goya district; they broke the record and urged the people to wake up to create something for the betterment of the people.

“If you observe, they print a master plan of Kukar-Gadu and focus on many years ahead. So this initiative—I am so impressed with it because it will help for the fiscal planning of the area for over ten years, as Alhaji Musa Garba Daya said.

According to him, the people of Kukar-Gadu are also commissioning the Empowerment Development Initiative, which was triggered by Victim Support Funds (VSF), chaired by Gen. T. Y. Danjuma, and I appreciate it so much because these will greatly assist both our youth and women of the area.

Atiyaye unveils a book on the history of Kukar-Gadu

Continue Reading

News

ActionAid Nigeria Warns of Rising Debt, Weak Social Spending in 2026 Budget Proposal

Published

on

ActionAid Nigeria Warns of Rising Debt, Weak Social Spending in 2026 Budget Proposal

By: Michael Mike

ActionAid Nigeria has raised serious concerns over the Federal Government’s proposed 2026 Appropriation Bill, warning that the budget could worsen Nigeria’s debt burden and further sideline key social sectors critical to poverty reduction and inclusive growth.

In its review of the ₦58.18 trillion budget proposal, the organisation said the 5.8 per cent increase over the 2025 approved budget does not sufficiently address long-standing fiscal and structural challenges. Instead, it noted that the financing plan, size of the deficit, and sectoral priorities pose risks to fiscal sustainability and accountability.

ActionAid Nigeria expressed particular concern over the continued extension of budget implementation timelines, which has resulted in the 2026 budget running alongside extended 2024 and 2025 budgets. According to the organisation, operating multiple budgets simultaneously weakens transparency, limits effective legislative oversight, and increases the risk of mismanagement of public funds, especially for capital and social sector projects.

The group, in a statement on Tuesday by its Country Director, Dr. Andrew Mamedu, also pointed to repeated post-submission changes by the National Assembly, including upward adjustments to allocations without secured funding sources, as a key factor contributing to funding gaps, delayed releases, and the rollover of projects across fiscal years.

On the fiscal outlook, ActionAid Nigeria highlighted that the proposed 2026 budget projects revenue of ₦34.33 trillion against total spending of ₦58.18 trillion, leaving a deficit of ₦23.85 trillion. It described the figure as the largest deficit in Nigeria’s history, representing sharp increases over the 2024 and 2025 deficits.

It warned that heavy reliance on borrowing, without strong investment in productive and social sectors, could deepen inequality and constrain long-term development.

ActionAid Nigeria said that despite government claims that education, health, agriculture, infrastructure, and security are priority areas, lamented that allocations to social sectors remain inadequate.

Mamedu, in the statement, noted that education allocated ₦3.52 trillion, about six per cent of the total budget, and health receiving ₦2.48 trillion, just over four per cent—are both far below international benchmarks, and in contrast with defence allotted spending standing at ₦5.41 trillion.

The organisation also faulted the budget for failing to address underemployment and poor-quality jobs, particularly among women and rural populations, noting insufficient investment in agriculture, rural infrastructure, and women-led enterprises. It further warned that weak funding for social protection programmes could worsen hardship for millions of Nigerians facing rising living costs.

ActionAid Nigeria also criticised the late submission of the Medium-Term Expenditure Framework, Fiscal Strategy Paper, and the 2026 Appropriation Bill, describing it as a breach of the Fiscal Responsibility Act.

The organisation urged the Federal Government and the National Assembly to end the practice of running multiple budgets, strengthen fiscal discipline, reduce dependence on borrowing, and significantly increase funding for education, health, agriculture, and social protection.

It stressed that Nigeria cannot overcome poverty through debt-driven spending, but through a people-centred and accountable budget that prioritises human development.

ActionAid Nigeria Warns of Rising Debt, Weak Social Spending in 2026 Budget Proposal

Continue Reading

Trending

Verified by MonsterInsights