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Tag: UNGA 2025

  • UNGA 2025: Nigeria calls on global investors to tap into reformed oil sector

    UNGA 2025: Nigeria calls on global investors to tap into reformed oil sector

    The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has called on global investors to use emerging opportunities in Nigeria’s rapidly transforming oil sector, citing strong reforms, enhanced production capacity, and regional influence as key drivers of growth.

    Speaking during a keynote remark at the United States–Nigeria Council’s session on oil sector collaboration, held on the sidelines of the ongoing United Nations General Assembly (UNGA) 2025 in New York, Senator Lokpobiri highlighted the country’s renewed policy focus and expanding market potential.

    “At the heart of Nigeria’s renewed energy agenda is a clear and deliberate policy direction: to open our oil sector to deeper, smarter, and more strategic partnerships,” the Minister stated. “The time to invest is not just now — it is ripe.”

    “Recall that for over ten years, prior to the coming of President Bola Ahmed Tinubu, Nigeria did not have any new investment in the oil sector, but with the reforms we have carried out, which have created an atmosphere that is globally competitive and attractive, we now have new investments running into billions of dollars”, the Minister added.

    “All inactive blocks during the period of no investments are in the basket now and up for grabs. We have a longstanding relationship with the US and US companies. Beyond these relationships, there are new opportunities for new investors, both in the upstream sector and other sectors.”

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    The Minister noted, in a statement signed by the Special Adviser on Media and Communication to the Minister, Nneamaka Okafor, that under the leadership of President Bola Ahmed Tinubu, Nigeria’s oil sector has witnessed significant progress over the past two years, including increased production output and a more attractive investment climate.

    “Thanks to bold reforms and globally competitive fiscals, Nigeria has significantly ramped up production and repositioned itself as a dependable energy hub across West Africa and the continent,” he said.

    Senator Lokpobiri attributed this transformation to the successful implementation of the Petroleum Industry Act (PIA), which he described as a “robust, investor-friendly legal framework” that is driving growth and restoring investor confidence.

    He also emphasised Nigeria’s commitment to energy transition efforts, affirming that the country would continue to leverage its fossil fuel reserves to finance its energy mix, while adhering to international climate agreements.

    “We are fully aligned with the Paris Agreement, and remain committed to cleaner, more sustainable exploration,” he said. “Our doors are open, our laws are clear, and our environment is conducive — now is the time for U.S. and global investors to become part of Nigeria’s energy success story.”

  • UNGA 2025: Nigeria, Namibia to deepen ties

    UNGA 2025: Nigeria, Namibia to deepen ties

    The Federal Republic of Nigeria and the Republic of Namibia have underscored the need to deepen bilateral relations for the benefits of both countries.

    This decision was reached when the President of Namibia, Netumbo Nandi-Ndaitwah, paid courtesy visit to Vice President Kashim Shettima, on the sidelines of the ongoing 80th United Nations General Assembly (UNGA) holding in New York.

    The News Agency of Nigeria (NAN) reports Shettima is representing President Bola Tinubu at the global stage and will deliver Nigeria’s national statement to the assembly on his behalf.

    During the visit, Nandi-Ndaitwah, the first female President of Namibia who assumed office on March 21, appreciated  Nigeria’s significant role in supporting her country from pre-independence.

    She also appreciated the roles of Nigerian diplomats in Namibia’s government and national life.

    The Namibia leader said, she found it appropriate to leverage the UNGA opportunity to meet with Vice President Shettima.

    “I will still find time to pay a visit to Nigeria,  to introduce myself to the President,” she promised.

    Responding, Shettima appreciated Nandi-Ndaitwah for the courtesy visit while wishing her administration well.

    The Vice President stressed the need for the Nigeria-Namibia relations to be taken to the next level, going forward.

    NAN reports the courtesy call was witnessed by several diplomats and government officials on both sides including Nigeria’s Minister of Foreign Affairs, Yusuf Tuggar.

    Others are the Ministers of Women Affairs and Social Development, Imaan Sulaiman-Ibrahim; and Education, Dr Maruf  Alausa.

    In a related development, the vice-president also held a high-level meeting with a delegation from the Gates Foundation, led by its Chief Executive Officer (CEO), Mr Mark Suzman.

    Shettima, who appreciated the foundation’s effort in improving the Nigeria’s health sector, called for more investments from the foundation

    He applauded the foundation in boosting agricultural productivity,  especially the investment in the cassava projects.

    The Vice President also commended the foundation for expanding access to financial services,  gender empowerment initiatives, noting that entrepreneurial capitalism is embedded in the very  psychic of an average Nigerian.

    “In Gates Foundation, we have a partner that we trust and believe in.

    “If all high network individuals can even make half of Bill Gates investments, this world will be a better place to live in” he said.

    Shettima disclosed that the Tinubu’s administration’s targets in the coming couple of years is to have an annual growth rates of nothing less than seven per cent.

    “We have to surpass the population growth rates anchored on microeconomic stability improved productivity, investment in infrastructure,  healthcare, agriculture and education,” he said..

    Shettima told the delegation to convey the highest regards of his boss, President  Tinubu, to Mr Bill Gates.

    On his part, the Minister of Education, Alausa, solicited the support of the foundation in the area of education in Nigeria.

    He specifically solicited assistance, in the area of technical support,  technology, Artificial Intelligence,  machine learning and others.

    ” I have met with your representatives in Africa and they said the initial focus over the years had been on child,  nutrition but not in education.

    “But now, I think there is more focus on education.

    “I am seeking for more of your support in foundational education. We don’t have that much support at all, ” the minister said.

    For his part, Suzman of the Gates Foundation, pledged enhanced investment in human capital development,  education,  health.

    He added that the foundation recorded significant progress in the area of digital identity and digital financial inclusion in Nigeria.

    He commended the strong  commitment of President Tinubu and his Vice saying, “Nigeria is really one of our strongest partners on the continent of Africa.

    “I am really looking forward to hear from you about where and how we might be more helpful and also just to assure you of our continued support.

    “We just signed a new grants with the Central Bank of Nigeria (CBN) to support some of the works around that, and we are very encouraged by your broader efforts, ” Suzman said.

    Other members of the delegation from the foundation are the President, Global Growth and Opportunity Division, Mr Rodger Voorhies, Director, Nigeria Country Office, Global Development, Mr Uche Amaonwu, and Director Africa Dr Paulin Basinga.

    (NAN)

  • United Bank for Africa to host global leaders at UNGA 2025

    United Bank for Africa to host global leaders at UNGA 2025

    The United Bank for Africa (UBA) Plc will be hosting world leaders, policymakers, and investors and other private sector players at the forthcoming 2025 United Nations General Assembly (UNGA).

    This year’s gathering at the UNGA, which is the 80th Edition, will be held between September 15th and September 25th, and as always, UBA Group has mapped out series of engaging activities to spotlight Africa’s opportunities and foster high-level dialogue with global leaders towards boosting the continent’s potential.

    A key part of the event, will be the UBA’s unveiling of a ground-breaking whitepaper that presents actionable strategies for unlocking Africa’s vast economic potential, as part of the bank’s mission to drive sustainable growth across the continent.

    The whitepaper, a first-of-its-kind initiative by a leading African financial institution at UNGA, titled ‘Banking on Africa’s Future: Unlocking Capital and Partnerships for Sustainable Growth’, will highlight opportunities in trade, infrastructure, digital innovation, climate finance, and inclusive growth.

    By providing a roadmap for collaboration between Africa and the global community, UBA aims to position the continent not just as a beneficiary of investment, but as a critical driver of future global prosperity.

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    Apart from the Whitepaper launch, other activities of the group will include the Business Council for International Understanding (BCIU) Roundtable to be hosted by UBA America, as well as the annual UBA Reception.

    The reception will convene world leaders, policymakers, and influential business executives who will be involved in critical dialogues on investment and development across the continent.

    UBA’s Group Chairman, Tony Elumelu, emphasized the strategic importance of these dialogues, explained that over the past few years, UBA has become an active leader in conversations and activities that will drive tangible investments to the continent.

    “These conversations are fundamentally different from previous discussions because they will be followed by feasible and actionable decisions. UBA will actively work to implement these outcomes for the benefit of the continent, as committed partners in Africa’s development and sustainability.

     “‘The United Nations General Assembly is the largest and most official gathering of world leaders, and we cannot let such an opportunity pass without major African players like UBA taking centre stage to bring these leaders together and showcase Africa’s potential,” Elumelu noted.

    UBA’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, who remarked on the upcoming event, especially the whitepaper’s significance, emphasized the need for more private organizations and players to demonstrate their commitment to the continent’s development through concrete action and proven capabilities.

    United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees group wide and serving over 45 million customers globally. Operating in twenty African countries and the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting edge technology.