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Tag: Nigeria

  • Nigeria and parable of talent

    I Nigeria, abundantly gifted with natural and human resources, has over 40% of her population poor, according to the National Bureau of Statistics (NBS). So, as I listened to the Parable of Talent, which was the gospel, last Sunday, across Catholic churches, our dear country was on my mind. According to the NBS, 82.9 million Nigerians, excluding Borno State, are poor.  Conversely, according to Chatham House, about $582 billion have been stolen from Nigeria, by her kleptomaniac leaders since 1960. Again, according to the Minister of Solid Minerals, Dele Alake, the solid minerals deposit in Nigeria is worth about $700 billion.

    The parable of talent told by Jesus Christ to his disciples is contained in Matthew 25: 14-30. In summary, it says that a man going on a journey called his servants and entrusted to them his property. To one he gave five talents, to another two talents and to the third, one talent. And he went away for a long time. The person that received five talents immediately traded with it and made five talents more, while the person given two talents traded with it and made two more talents.

    When the master returned, the person given five talents presented ten talents, while the person given two presented four to the master. The third given one talent, brought one talent back and said: “Master, I knew you to be a hard man, reaping where you did not sow, and gathering where you did not winnow, so I was afraid, and I went and hid your talent in the ground. Here have what is yours.”   

    The master answered him: “You wicked and slothful servant! You knew that I reap where I have not sowed, and gather where I have not winnowed? Then you ought to have invested my money with the bankers, and at my coming I should have received what was my own with interest. So take the talent from him, and give it to him who has ten talents. For to everyone who has will more be given, and he will have abundance, but from him who has not, even what he has will be taken away. And cast the worthless servant into the outer darkness, where there will be weeping and gnashing of teeth.”

    Nigeria was on my mind because she is abundantly blessed, but she has performed worse than the person given one talent. Using the 2022 budget estimate of $39.8 billion as a parameter, the $582 billion stolen since independence is about 15 years’ budget. Considering that the nation’s population has moved from about 44,928,341 in 1960 to about 218,541,212 in 2022, the money stolen since independence, if pro-rated, should be more than 15 years’ budget requirement.

    It is important to note that it is the officials of the government entrusted with the resources, like the person given the talent by the master that substantially stole the $582 billion. In specific terms, according to the research institute, $400 billion was stolen from 1960-1999. And between 2005-2014, $182 billion was lost through illicit financial flows from the country. There is no data on what has been stolen from 2016-to present, but stealing and misappropriation of public funds have not stopped, and considering the corruption index, may actually have increased.

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    More fearful, according to the 2022 Multidimensional Poverty Index survey, 63% of persons living within Nigeria (133 million people) are multidimensionally poor. Sokoto, Bayelsa, and Jigawa states led states with the highest multidimensional poverty index. While Ondo has the lowest 27%, Sokoto has the highest 91%. According to Chatham’s report, the stolen common wealth “represents the investment gap in building and equipping modern hospitals to reduce Nigeria’s exceptionally high maternal mortality rates – estimated at two out of every 10 global maternal deaths in 2015; expanding and upgrading an education system that is currently failing millions of children; and procuring vaccinations to prevent regular outbreaks of preventable diseases”.   

    By several reports, poverty is higher in the northern part of the country, which many consider, the privileged region when it comes to access to power and public wealth. Since independence, the region has produced more leaders in government and money spinning sectors than the south, and apparently more kleptomaniacs or more wicked and slothful servants, if I may use the language of the Bible in the parable of talent. An online media, lists poverty index in states in the following order: Sokoto – 87.73% Taraba – 87.72% Jigawa – 87.02% Ebonyi – 79.76% Adamawa – 75.41% Zamfara – 73.98% Yobe – 72.34% Niger – 66.11% Gombe – 62.31% Bauchi – 61.53%.

    However, Nigeria appears to be behaving more like the person given one talent, with regards to the mineral deposit gifted to her by nature. The estimated $700 billion mineral resources gift is substantially hidden in the ground, perhaps awaiting the return of the master. Interestingly, Plateau State is recorded as the state with the highest number of mineral deposits. Among the top mineral deposits in Nigeria are Gold, Oil and Natural Gas, Bitumen, Iron Ore, Coal, Tin, Talc, Gem Stones and Gypsum.

    In the list of states endowed with the resources, are many northern states including Bauchi, Niger, Kebbi, Kaduna, Kogi, Zamfara, Benue, Kwara, Adamawa, Borno, Gombe, Nasarawa, and Sokoto. In essence, there is hardly any northern state wallowing in abject poverty, not endowed with mineral resources, but they are hidden in the ground, awaiting exploitation. Perhaps, Nigerians have become victims of the discovery of oil and the consequent Petroleum Act 1969 and exclusive legislative list in the 1999 constitution, which entrusted the ownership of all mineral resources in the federal government, against the principles of federalism.

    That discovery and enormous inflow of resources inflicted the country with the what is called the Dutch disease. According to CFI, a Dutch disease “is a concept that describes an economic phenomenon where the rapid development of one sector of the economy (particularly natural resources) precipitates a decline in other sectors. It is also often characterized by a substantial appreciation of the domestic currency. Dutch disease is a paradoxical situation where good news for one sector of the economy, such as the discovery of natural resources, results in a negative impact on the country’s overall economy.”

    Nigeria, like the person with one talent is stagnated in poverty and social dislocations and discontentment. Unless an urgent action is taken, while some will japa, the majority constitute a ticking time bomb awaiting explosion. The World Bank Group in a report titled: “Nigeria Poverty Assessment 2022”, suggests the need for deep structural reforms to lift millions of Nigeria out of poverty. President Bola Ahmed Tinubu, presently in Berlin, Germany, where Otto von Bismarck and his fellow brigands, started the mess that Africa is, should make hay while the sun shines.

  • ‘Nigeria can solve energy challenge with renewable sources’

    ‘Nigeria can solve energy challenge with renewable sources’

    • By Esther Uyor

    Nigeria can solve its seemingly intractable energy challenge by exploiting its vast potential for renewable energy, which is currently underutilised.

    Experts who spoke at a virtual dialogue organized by the Renewable Energy Association of Nigeria (REAN), agreed that Nigeria has enormous natural resources to develop substantial renewable energy base to meet its energy demand. The theme of the virtual dialogue was “Harnessing Renewable Energy Potential to Tackle Energy Poverty in Nigeria”.

    Chief Executive Officer, Powerup Renewables Limited, Mr Chidi Obike said Nigeria is not only one of the most populous countries in Africa, but it also has the largest economy on the continent.

    According to him, with a rapidly growing population, there is a high demand for energy services, which presents a great opportunity to develop the country and tap into its natural renewable energy resources, promoting low carbon economic growth.

    He highlighted the major renewable energy resources in Nigeria, such as solar power, which has an estimated potential of 210,000 megawatts according to Arena, hydro power with potential of at 24,000 megawatts as well as waste-to-energy. Current solar deployment stands at around 50 megawatts.

    He noted that Nigeria has been dealing with extremely unreliable and insufficient power supply from the national grid for over four decades.

    “Solar power is the most practical solution to this significant power issue. It is the most affordable power source, can be quickly deployed, and can be used on-site when needed,” Obike said.

    He however noted that the Nigerian government has realised the importance of utilising the country’s abundant renewable resources, especially solar power, to establish a sustainable energy system.

    “To achieve this, the government has developed strategic policies and laws, such as the Energy Transition Plan and the Electricity Act 2023. These initiatives include provisions like feed-in tariffs, a rural fund for renewable electricity projects, and a renewable energy purchase obligation for bulk power traders. The Act also simplifies the licensing process and reduces fees for renewable energy projects. Additionally, it allows for the decentralization of Nigeria’s power system, enabling state governments to generate, transmit, and distribute power within their states,” Obike said.

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    He expressed optimism that the implementation of the Electricity Act would position Nigeria as a leader in renewable energy, while also addressing electricity supply issues and mitigating the impacts of climate change.

    Chief Operating Officer, Solar Sister, Mrs. Olasimbo Sojinrin, noted that energy poverty disproportionately affects girls and young women, impacting their education and economic development.

    She explained that the birth of Solar Sister was driven by the desire to empower people to access energy and thrive.

    She emphasized the importance of climate action, which is often overlooked noting that every country is focused on achieving net zero emissions and mitigating carbon emissions.

    “Renewable energy is the way forward to combat pollution and preserve our ozone layer. We need to change our behaviors and embrace clean energy solutions,” Sojinrin said.

  • Chief Marketing Officer represents brand Nigeria to Saudis

    It was another week spent in active public service to all Nigerians, home and abroad, by President Bola Tinubu, though most of that week was spent abroad. You will recall I announced his plans to attend the Saudi-Africa Summit in Riyadh, Saudi Arabia. Well, he was in Saudi Arabia most part of the week, exactly one week in the country that hosts the Holy City of Makkah, and transacted business on behalf of Nigeria and Nigerians, with God and men.

    While in Saudi, the wheel of the state did not ground to a halt, I think to make this point, because he ensured to put people of intellect and intuition in charge, led by his trusted friend and lieutenant, Vice President Kashim Shettima, who was leading the charge back home, so the Jagaban was focused on the task that took him far away from home.

    Almost immediately he was done with the general reason for the trip, being the Saudi-African Summit, the President jumped on the next train to the venues of other primary security and economic issues affecting Nigeria. The first was the Nigeria-Saudi Investment Roundtable, still in Riyadh.

    At this roundtable, which was well attended by both Nigerian and Saudi public and private representatives, the President gave a passionate reassurance to the Saudis. Above everything, he told them of how his administration is removing impediments to smooth and profitable business climate in the country, through policy changes and realignments, and categorically told them “Nigeria is open for business”.

    At this forum, besides an array of relevant government functionaries, there were dozens of chief executive officers from several Saudi conglomerates, specializing in construction, finance, new and traditional energy, healthcare, agriculture, electric power, mining, aviation, telecommunications, creative arts, and hospitality were present and made their exploratory pitches to President Tinubu on areas of tangible collaboration.

    Then on Sunday, November 12, the Jagaban headed for the Holy City of Makkah, where he, along with his entourage, performed the lesser Hajj (Umrah). He expressed his excitement about seeking God’s face on Nigeria’s behalf, as President, while speaking to the Nigerian Television Authority’s (NTA) Musbau Dan-Wahab, saying he was in Makkah for the first time after his election as President, to thank God for answering his prayers and those of Nigerians, at the elections. He went on to pray for the country on the new path it is following.

    “For Nigeria, may our prosperity grow, and may humanity be kind to each of us. The prospect of the country is yet to blossom to the level that we require. It needs hard work and consistent prayers and we’re giving it our mind and our spirit in every way possible. Our strength is in our diversity and we’ll continue to build on that for the prospect and the sake of the country”, he said.

    Then on Tuesday, November 14, after he had rested from the work of faith at the Great Mosque, also known as Masjid al-Haram, President Tinubu went on, in Makkah, to meet the authorities at the Islamic Development Bank (IsDB), to advance negotiations on a multi-billion dollar infrastructure finance facility from the bank. This finance facility, according to a statement issued by the President’s spokesman, Ajuri Ngelale, will service the funding of a multi-sectoral portfolio of infrastructural projects at both the national and sub-national levels of the country.

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    It was at this meeting that the leadership of the IsDB, led by the bank’s Vice President in charge of Country Programmes, Dr Mansur Muhtar, revealed that the banking world has been watching recent positive developments in Nigeria and has come to the conclusion that our country has come of age and is ready for business, a reason the bank believes Nigeria, as the largest market and economy on the African continent, will take a lion’s share of a new investment vote worth $50 billion by the Arab Coordination Group (ACG) for African countries.

    “Mr. President, we know you inherited a very tough set of circumstances. It is to your credit that you have taken very bold steps without delay. We are ready to work with you. We are ready to support big investments in Nigeria. We agree that if Nigeria succeeds, Africa succeeds. And the world needs Africa to succeed.

    “The Islamic Development Bank President announced the provision of $50 billion U.S. Dollars of new investment for the African continent from the Arab Coordination Group (ACG). This was announced at the Saudi-Arab-African Economic Summit. As the largest market and the largest economy in Africa, Nigeria will certainly receive a significant share. We look forward to supporting Nigeria’s economic transformation”, Muhtar said.

    The Saudi outing has generally received acceptance and praises from various shades of opinions and interests globally, described as a major achievement of the Bola Tinubu administration that must be celebrated. At home, people from various backgrounds, especially those in the business, trade and investment world, who really understand what the President is doing very well, have been giving positive reviews of the events that transpired in Saudi.

    A strong voice among Nigerian youths, who has vehemently followed and highlighted President Tinubu’s achievements on his X handle, Wale Adedayo, who also identifies himself as Pro-Nigerian, while commenting on Jagaban’s speech at the Nigeria-Saudi Investment Roundtable, described him as Nigeria’s Chief Marketer and added “if this man keeps selling Nigeria like this, he will do third term”.

    Also reviewing the various engagements the President had in Saudi, Eguando Tone Jeff, a Public Affair Commentator, particularly highlighted how he was able to earn the trust of the Saudi and other Arabia businessmen in just one trip. 

    “Personally, I think his outing was successful, if you ask me. I was proudly watching him telling them and the world we are open for business, removing bottlenecks and restating the role he played as a Deloitte member of staff in building the Saudi State Oil giant, Aramco. That again gives confidence to the Saudis and most willing investors in the Arab world that this President is one who is business minded and can be trusted with their funds and investments. You noticed the ease the Saudis pledged to make investments in some critical areas of our economy? It’s because Jagaban is trusted”, Eguando said.

    Builder Bolaji Olaye, an Abuja-based businessman and housing expert, while undertaking an evaluation of the President’s outing in Saudi Arabia, located how the President’s marketing to Saudi Arabia government and business world will positively tell on the Nigerian economy and his particular sector, directly. He expressed some eagerness to see the investment hunting bear fruits for him directly.

    “Aside the announcement by the Saudi’s Crown Prince, HRH Mohammad bin Salman, that the Arab nation has pledged to invest in the revamp of Nigeria’s refineries, as well as provide financial support to sustain the government’s foreign exchange reforms, one part that excites me the most is the affirmation and assurances by Saudi Arabia’s Trade and Investment Minister, Kahlid El-Falih, that his nation is poised and their investment community willing and ready to invest across several sectors of the Nigerian economy. To further show their readiness, he hinted that he will be visiting Nigeria later this year in company of Saudi’s Minister of Commerce with a very large delegation of Saudi CEOs from all key sectors.

    “In the industry of mass housing development and as a private developer myself, access to finance is a critical factor in the provision of affordable housing for masses of Nigerians and that at an affordable interest rate, would be immensely beneficial for both the developers and the would-be beneficiaries of such houses.

    “With the announcement of a multi-billion dollar of new investments coming into Nigeria from the Islamic Development Bank for funding multi-sectoral portfolio of infrastructure projects across Nigeria, of which mass housing would be a major sector for investment, President Tinubu’s visit to Riyadh is indeed a positive development for the nation and I am seriously looking forward to this substantial new investments yielding positive fruits across several sectors of our nation’s economy”, he said.

    Then on Thursday, Jagaban, who is also the Chairman of the ECOWAS Authority of Heads of State and Government, landed in Guinea-Bissau to honour President Umaro Sissoco Embalo’s invitation to the country’s 50th Independence Day Anniversary. His presence at the event was particularly significant for democracy, especially in Africa, considering the trend recently witnessed in West Africa. His message on his verified X handle aptly depicted his reason for attending: “Today, I joined President Umaro Sissoco Embaló of Guinea Bissau and other world leaders to commemorate the country’s 50th Independence in Bissau. Nigeria remains committed to supporting peace and democracy, not only in Guinea Bissau, but the rest of West Africa, and the world”.

    He is starting this week in Germany, where he arrived yesterday to participate in the G20 Compact with Africa (CwA) Conference in Berlin. In Germany, he is expected to come back with more goods, for the benefit of all Nigerians.

    A Note on Ribadu

    You must definitely have also noted how strongly the National Security Adviser (NSA), Mallam Nuhu Ribadu, has been serving the nation, with merits, since he assumed office, the most recent of which was the way he brought the organized Labour’s nationwide strike to an end within hours. Many people might not have known that in the last few Government-Labour interactions on sorting out issues trailing fuel subsidy removal, NSA Ribadu has constantly been a stabilizing factor, who has managed to get Labour’s understanding. He did it during the week when Labour started a nationwide strike on Tuesday and Ribadu got them to end it Wednesday evening. This happened while the ‘Landlord’ was away in Saudi Arabia

    He has been proving himself relevant and as a strategic asset to the nation. Ribadu has again proven the whispers about the President’s talent hunting skills. Baba always knows what people are good for and never misses on getting the best hands to work with. Let’s give it up for Ribadu, another skillful negotiator. 

  • Nigeria has derailed from vision of founding fathers, says Sultan

    Nigeria has derailed from vision of founding fathers, says Sultan

    The Sultan of Sokoto, Alhaji Sa’ad Abubakar III, yesterday said the country has derailed from the vision of its founding fathers.

    The Sultan spoke at the fourth Dr. Nnamdi Azikiwe Annual Award Lecture (DNAAAL) with the theme: Promoting Unity in Diversity, Equity and Inclusivity in Nigeria, held at the Shehu Musa Yar’Adua Centre in Abuja.

    The event, which was the 119th posthumous birthday of Nigeria’s first elected President, Dr. Nnamdi Azikiwe, was attended by dignitaries from across the country, including the wife of the honouree, Prof. (Emeritus) Uche Azikiwe, who was also the Mother of the Day.

    Represented by the Emir of Wase, Alhaji Mohammed Sambo Haruna, the Sultan said today’s generation of Nigerians have a lot to learn about the country’s history.

    He said there should be a conscious effort to put the country back on the path the founding fathers intended for it.

    But Abubakar expressed confidence that the country has the wherewithal to make the citizens realise their dreams.

    He said: “We would continue to have good people like Nnamdi Azikiwe in Nigeria. We would continue to have people that have this country at heart so that they can be celebrated the way he is being celebrated today. 

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    “Looking back to the generation in which I belonged. The young men of today have a lot to learn. What our forefathers have done, we have derailed from it.

    “I want to use this opportunity to ask Nigerians that we should come back to the way our fathers actually laid the foundation of Nigeria.

    “We can still achieve the Nigeria of our dreams. We have no doubt in the crop of leadership that we have in the country and the crop of intelligent Nigerians that we have. We can take Nigeria to where it is supposed to be in this world. It should be ranked as the first, the fastest, the biggest and the best country in West Africa and Africa.

    “It is my hope and prayer that the death of this gentleman should not go in vain. We should wake up and build Nigeria in the way Nnamdi Azikiwe wanted to see Nigeria before departing this world,” the Sultan said.

    The Director General of the lecture and award, Chineme Onyeke, said the occasion was meant to celebrate the late Dr. Azikiwe and his philosophy of one united Nigeria. 

    “We believe that as the 2023 general election has come and gone, the reincarnation of Zik’s and other founding fathers’ patriotic politics of national integration and unity is most desired now than ever before. We believe that the President is well equipped and prepared to unite Nigeria for a peaceful coexistence.

    “We all, therefore, appeal to all opposition political parties and candidates to join forces with the President to unite Nigeria and revamp the ailing economy and move the great nation to greater heights,” he said.

    Former Niger State Governor Babangida Aliyu, who was the keynote speaker, described the late Azikiwe as a foremost politician, knowledgeable gentleman, renowned intellectual, freedom fighter, a realist, and pragmatist whose main goal was to fight for humanity and the dignity of the Black man wherever he found himself.

  • Stakeholders praise housing cooperatives in Nigeria, Egypt, Kenya

    Stakeholders praise housing cooperatives in Nigeria, Egypt, Kenya

    Stakeholders at the just-concluded International Cooperative Alliance (ICA) Africa conference in Abuja applauded successes recorded by housing cooperatives in Nigeria, Egypt and Kenya, describing them as models that should be emulated by other countries in the continent. The three-day conference, which has as its theme, ‘’Cooperatives For a Sustainable Africa’’ drew participants from across the African continent. It brought together key stakeholders, experts, practitioners and policymakers to explore the significant role of cooperatives in promoting sustainable development on the continent.

    The forum also seeks to create a platform for knowledge exchange, collaboration and innovative solutions to address Africa’s socio-economic and environmental challenges through the cooperative movement.

    Speaking to journalists at the forum on Wednesday, the President, International Cooperative Alliance, North Africa Sub-Regional Office, Egypt, Major-General Waleed Elbarody,  said the forum gave ample opportunity for members to brainstorm on how best cooperatives in the continent can be more sustainable.

        He said: ‘’I’m very happy that in Nigeria, Egypt and Kenya housing cooperatives have been very successful over the years, only asking other countries to emulate the three countries mentioned, this will also help to boost food availability for us all.’’

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       According to him, cooperatives all over the continent should also focus on  the importance of data to drive the cooperatives in this modern age, stressing, ‘’It will help create jobs for our peoples, make us know cooperative community and their businesses.’’

       Contributing, Executive Director of ICA, North Africa  Sub-Region, Ambassador Dr. Hazeen Ramadan, told the media that poor information flows and poor data usage are some of the challenges facing cooperatives in the continent.

       He said: “I would want us to bridge the gaps in the region, Nigeria is leading in cooperative business, followed by others. Each time I attend this meeting, I’m always amazed and surprised at the level of activities that comes with it.

        “I can assure you that if we follow the principles of cooperatives very well, then, there will be job creation for our people but of course, it’s upto each country based on the applicability of their laws, obsolete laws  working against cooperatives needs to be amended or modified to meet present realities.’’

  • Nigeria needs improved public-private infrastructure partnership for economic growth – Shettima

    Nigeria needs improved public-private infrastructure partnership for economic growth – Shettima

    Vice President Kashim Shettima on Thursday, November 16, emphasized the importance of improved public-private infrastructure partnerships as critical catalysts for Nigeria‘s economic growth.

    The vice president stated this in Abuja during the public presentation of two books authored by one of Nigeria’s prominent legal luminaries, Mallam Yusuf Ali (SAN).

    According to a statement issued by his spokesman, Stanley Nkwocha, the vice president recalled Tinubu’s legacies as governor of Lagos state, a feat he said the president is set to replicate at the national level in the bid to reposition the country.

    Delivering his speech titled, “Mallam Yusuf Ali: Enduring Reflection in Law, History, and Public Policy,” the vice president stated: “There is, of course, no politician in the country today who can match President Bola Ahmed Tinubu’s experience in both brokering public-private partnership and understanding what must be done to bridge our infrastructure gaps.

    “You only need to gaze into the realities of Lagos State before and after his progressive leadership as Executive Governor to realise his spectacular legacy, a skill set he’s again brought into play to reposition Nigeria as a competitive global player.”

    Noting that the President’s Renewed Hope Agenda “is built on the realisation of improved infrastructure as a critical catalyst for “the nation’s economic growth,” Shettima pointed out that the projections of the administration’s sound economic team on revolutionising investment in infrastructure were in tandem with those of its development partners.

    “I am here to acknowledge that such a grand vision is the reason we are exploring innovative funding mechanisms like Public Private Partnerships, with avenues like the Infrastructure Concessions Regulatory Commission (ICRC) as testimony to such ambition. The on-going review of the ICRC (Establishment ETC) Act, 2005, is telling,” the VP stated.

    The vice president described the two books, “The Supreme Court and the Jurisprudence of the Right to Fair Hearing,” and “Public Private Partnerships: An Essential Guide for Stakeholders,” unveiled today as an eagle-eyed contribution to the “nation’s pursuit of order and development.

    “These books aren’t well-timed solely due to their thematic interests. They are not being celebrated solely for their interpretation of paramount aspects of our nation’s journey, nor for a yearning for such interventions in our collective responsibility to serve the nation. These two books stand out due to the intellectual and professional pedigree of the author,” he added.

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    Referring to the author of the two books, Mallam Ali (SAN), as a friend and brother, VP Shettima also described the learned silk as a “reservoir of knowledge acquired over decades of sincere engagement with the legal intricacies of our dear nation.

    “His decision to document these treasures of wisdom reflects a legacy that shall echo through the corridors of scholarship beyond the practice and learning of law,” he noted.

    The VP further observed that the author was able to capture readers’ attention by recognising the need for a clearer perspective on collaborations between the public and private sectors.

    He added: “Nigeria’s infrastructure deficit depends on our understanding of the complex interests of all parties involved in deals that do not disadvantage the nation. It’s crucial to ensure that we are not blinded by any legal requirements.

    “It’s worth noting that one astute lawyer can bankrupt a country, but it also takes just one astute lawyer to save a nation. We have witnessed this, even in the recent case of Nigeria versus P&ID, which could have resulted in an unbelievable $11 billion arbitral award against us.”

    Reviewing the book, Prof. Wahab Olasupo Egbewole, SAN, said apart from the numerous contributions to knowledge by the author, the book offers an absorbing, interesting, and informative insight on the Supreme Court’s jurisprudence on the right to fair hearing in Nigeria.

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    He noted that the book is a well-researched study focusing on the principles of fair hearing as laid down by the Supreme Court of Nigeria, adding that it is a must-read for not only lawyers and judges but also for all other stakeholders involved in the justice sector.

    The other book on Public Private Partnerships in Nigeria, according to him, was written with the aim of providing stakeholders with the requisite knowledge and guidance regarding the operations and implementations of the Public-Private Partnerships initiative in Nigeria.

    Dignitaries who graced the book launch included Chief Justice of Nigeria (CJN), Justice Olukayode Ariwola; Minister of Justice and Attorney General of the Federation, Lateef Fagbemi (SAN) and National Chairman of the All Progressives Congress (APC), Dr Abdullahi Ganduje.

    Others present at the event were former Speaker of the House of Representatives, Mrs Patricia Etteh; Chief Judges of Kwara and Osun States; another learned silk, Chief Wale Olanikpekun (SAN); Justice Binta Nyako; Director General of the Infrastructure Concession Regulatory Commission (ICRC), Dr Joe Ohiani, billionaire businessman, Chief Tonye Cole, and Senator Kaka Lawan, among others.

  • ‘Preserve Nigeria’s heritage’

    ‘Preserve Nigeria’s heritage’

    A public policy analyst and former presidential aspirant, Daniel Akinlami, has called for the creation of an enabling environment for museum, culture and tourism agencies. 

    According to him, this investment will support the documentation, promotion and protection of indigenous ancient tradition and cultural heritage.

    He made the call at the 2023 Annual Cultural Festival, at the National Museum, Onikan, Lagos. 

    Akinlami stressed the importance of public-private partnerships in driving cultural projects and initiatives, noting that Nigeria’s “rich cultural diversity” should be seen as an asset that can contribute to economic development, peace and unity.

    “Rather than see the multi-ethnic nature as a challenge, the country should take advantage of this rich cultural diversity in its quest for economic development, promotion of peace and unity and should encourage the attitude of its people towards respect and protection of traditional institutions. 

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    “The Federal Ministry of Tourism and the Ministry of Art, Culture and Creative Economy have critical roles to play in leveraging on the diverse culture in Nigeria to inculcate the tenets of the nation’s cultural values of respect, honesty, sincerity and patriotism in the citizens. Besides the private sector partnership, they should also deploy public information and media, which should play a crucial role in informing and educating the public on cultural dialogue and other issues,” he said.

    The Curator of the National Museum, Lagos, Linus Kingi, said the objective of the festival was to revive and sustain “our endangered culture across all aspects of life”.

    He added that the event was aimed to not only provide entertainment, but also foster mentorship, particularly for the children present.

  • Organisers  plan  big for 10th  Nigeria  Pitch Awards 

    Organisers  plan  big for 10th  Nigeria  Pitch Awards 

    The organisers of the annual  Nigeria  Pitch Awards  have expressed plans to make this year’s edition special in many ways.

    The Pitch Award, which started in July 2012 is in its 10th  edition.

    The President of the Pitch Award s, Shina Phillips, said yesterday  in Lagos that it was important to make the 10th  edition special and, adding there  are big plans on the cards to make \it a momentous event.

    Phillips stated that a symposium to discuss the future of Nigerian football would be staged before the event.

    “We are going to announce some of the big initiatives we are adding to the award ceremony with time,” Phillips said.”I say  big thank you to our independent vote collating partners-SIAO- and the Nigeria Football Federation and also college of voters for standing by us over the years.

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    “It is deliberate working without sponsors in the past years just to protect the standard and integrity of the award.”

    He added: “Our  determination  was to create  an award platform built on integrity , credibility  and transparency . To achieve  this, we completely  removed ourselves  as organisers  from the award  decision process , giving organisers  zero vote  in the entire voting  process.” 

    The Pitch Awards gala  is scheduled to take place in March  2024 after the voting exercise  between December 4  and January 12, 2024.

     Director of Communications of Nigeria Football Federation (NFF) , Ademola Olajire, commended Nigerian journalists for supporting the award project over in the past 10 years,  adding  the Nigeria Pitch Award  has lasted  the distance because it was based on integrity, credibility and transparency.

    “It has been a huge success story and it cannot be done without the media,” Olajire noted.

  • Nigeria, others get $50b IDB support

    Nigeria, others get $50b IDB support

    Nigeria and other African countries will benefit from a $50 billion investment support to be made available by the Islamic Development Bank (IDB).

    The fund, which is being  facilitated by the Arab Coordination Group (ACG), was announced at the Saudi-Arab-African Economic Summit held at the weekend in Saudi Arabia.

    “As the largest market and the largest economy in Africa, Nigeria will certainly receive a significant share. We look forward to supporting Nigeria’s economic transformation,” IDB Vice President Dr. Mansur Muhtar told President Bola Ahmed Tinubu during a meeting.

    The meeting where the President pushed for IDB support for Nigeria’s infrastructure development took place on Monday night in Mecca.

    According to Presidential spokesman Ajuri Ngelale, the President gave reasons why Nigeria should be supported with investment and facility to build infrastructure.

    He quoted the President as saying: “Nigeria is the candle of hope that will light the way for Africa. And once Africa is illuminated, the world will be a brighter place for all of humanity.

    “We are determined to create a future for our gifted youths. Investments in Nigeria will be among the world’s most high-yielding. Investor money will flow easily in and out of our country. Processes will be seamless. And your bank has always been a faithful partner in progress.

    “We have serious deficits in port infrastructure, power infrastructure, and agro-allied facilities that will enable sustainable food security in our country.

    “These deficits present unrivalled opportunities for savvy investors in a market that is by far the largest on the continent. Yes, we had the vision to enable Lekki Deep Seaport before others saw it. We must be bold again.

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    “We inherited serious liabilities, but also assets from our predecessors. We do not make any excuses. There are several sectors replete with investment opportunities for smart investors.

    “Access to finance and guarantees can be a hindrance in some cases. You can come in there. We see you as a critical enabler.

    “You have partnered with us before. We want to scale it up now and do much more with greater ambition and clear vision.”

    Noting the historic essence of the President’s swift and decisive economic reforms, Dr. Muhtar said the financial world has been monitoring events in Nigeria and has concluded that Africa’s largest economy means business this time.

    The IDB chief said: “Mr. President, we know you inherited a very tough set of circumstances. It is to your credit that you have taken very bold steps without delay.

    “We are ready to work with you. We are ready to support big investments in Nigeria. We agree that if Nigeria succeeds, Africa succeeds. And the world needs Africa to succeed.”

    The president thanked the IDB management, pledging the unwavering commitment of his administration to win investors’ trust and confidence, just as he did in Lagos State many years ago.

    With Tinubu  at the meeting in Mecca were: Governors Bala Mohammed (Bauchi); Dikko Radda (Katsina); Umar Bago (Niger) and Budget & Economic Planning Minister, Atiku Bagudu.

  • Pedabo recounts progress in Nigeria, opts for global footprint

    Pedabo recounts progress in Nigeria, opts for global footprint

    Nigeria‘s premier accounting body, Kreston Pedabo, is expected to host a gathering of global industry leaders in the coming days to commemorate the remarkable achievements the organisation has made over the past 25 years.

    The milestone anniversary symposium, scheduled to take place in Lagos on the 16th of this month, comes on the heels of the Nigerian firm’s recent inclusion into the Kreston Global network.

    Established in 1998 by Ajibade Fashina and Albert Folorunsho, Pedabo has been unwavering in its commitment to delivering tailored solutions and advisory services, empowering both public and private sector companies to realise sustainable business development.

    Under the banner of “Surviving Decades: The Impacts of Building a Business on a Foundation of Excellence,” the Chief Executive Officer of Access Holding Plc, Herbert Wigwe is to deliver the keynote address at the event.

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    The panel discussion will feature a distinguished line-up of industry leaders, including Managing Director of Triumph Power & Gas Limited, Bolaji Ososami, Managing Director of Unified Payments Services Limited, Agada Apochi, Co-Founder and Chief Executive Officer of Tomato Jos Farming and Processing Limited, Mira Mehta, Founder, Design Union Limited, Anthony Aihie, and Dr. Ola Brown, General Partner, HealthCap Africa. The event will be hosted at the Balmoral Convention Center, Federal Palace Hotel and Casino.

    Ajibade Fashina expressed his pride in the organisation’s journey, stating, “This is a defining moment for us as an organisation, and I am proud of the progress we have made so far. Our 25th anniversary offers us the opportunity to appreciate our progress, rethink, recalibrate, and re-strategise for the journey ahead. It also gives us the chance to appreciate the many people, especially our workforce, who have been playing remarkable roles in shaping the organisation.”

    Albert Folorunsho also shared his enthusiasm for the milestone, saying, “Our upcoming 25th anniversary is not only significant, but it also provides us with a moment to recommit ourselves to our mission and values. Together, we can continue to make a positive impact and drive our organisation forward.”