Category: General News

Africa

By Salif Atojoko

Abuja, June 6, 2024 (NAN) President Bola Tinubu on Thursday in Abuja called on international development financiers to see Africa as a destination for growth and prosperity.

The President made the call at a meeting with a delegation of the International Finance Corporation (IFC), led by its Managing Director, Mr. Makhtar Diop.

The News Agency of Nigeria (NAN) reports IFC is a member of the world Bank Group and the largest global development institution that focuses, exclusively, on the private sector.

Tinubu urged the corporation to consider more strategic investments in agriculture, infrastructure, research, and development on the continent.

“The IFC and the World Bank need to see Africa differently. I am glad an African is at the helm of affairs at IFC, and as an African, understands that the potential for growth, peace, stability and prosperity is here.

“The world has to see us as a continent that can help the rest of the world, and not perceive us as backwards, unstable and with leadership problems.

“The expectations of the rest of the world on Africa have to change.

“They must see Africa as a potential opportunity and not a danger to the rest of the free world, so that we can stimulate growth and propel inclusiveness,” he said.

The President added: “You are at the helm now and in a position to change the perception. We are ready to change the narrative and work with you. Africa is open for business, regardless of whatever the perception may be.

“I am an African and proud to be and will maintain the strong position to collaborate with the rest of the world to see Africa as a destination for growth and prosperity.”

Tinubu acknowledged that Nigeria held the second-largest IFC portfolio in Africa with an active investment portfolio of 2.1 billion dollars as of April 2024.

He also highlighted the importance of some critical infrastructure projects embarked upon by his administration, such as the 700km Lagos-Calabar Coastal Highway and the Sokoto-Badagry Expressway.

“We have made various attempts in the past to create dams, but issues with reticulation and irrigation remain.

“When we consider the living conditions in rural areas where crops are produced, how much funding is allocated for rural roads to expedite transportation to consumer centres?

“The goal of the coastal road and the Sokoto-Badagry Highway is to address this,” the President said.

In his remarks, Diop informed the President that during his working visit to Nigeria, the IFC had engaged in productive discussions with Nigerian partners to enhance agriculture, increase food production through irrigation farming, upgrade transport networks, and bolster regional integration.

He announced that IFC had signed a 23.3 million dollar loan agreement with Johnvents Industries Limited, a leading agribusiness for economic development and agricultural transformation company, to develop the cocoa sector.

“We are supporting small and medium enterprises in the agricultural sector, and they are doing very interesting things. 

“We need to bring in more big players into food production in the country,” Diop said.

He added that the Corporation was ready to partner the Nigerian government on new investments in irrigation, road infrastructure, and logistics around the airport under a Public Private Partnership.

Diop congratulated President Tinubu on his one year in office and commended his bold decisions to revamp Africa’s largest economy.

He pledged IFC’s commitment to long-term investment in Nigeria, adding that its single largest investment in Africa was in Nigeria, where it had invested 1.2 billion dollars in the fertiliser industry.

“We are here to support you. The world has been facing a lot of shocks and difficult situations which have affected many African economies,” Diop said. (NAN) (www.nannews.ng)

SA/ROT

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Edited by Rotimi Ijikanmi 

C’River Assembly passes 28 laws in 12 months

Law

By Ehigimetor Igbaugba

Calabar, June 6, 2024 (NAN) The Cross River House of Assembly has passed 28 laws within the last 12 months, Dr Davies Etta, the Deputy Majority Leader of the House, has said.

Etta, the lawmaker representing Abi Constituency, disclosed this in an interview with the News Agency of Nigeria (NAN) on Thursday, in Calabar.

NAN reports that the 10^th Assembly was inaugurated on June 13, 2023.

Etta explained that from the 28 laws, only eight had been assented to by the governor, Sen. Bassey Otu.

He noted that the 10th Assembly represented the hope and aspirations of Cross Riverians, as all the laws, motions and oversight functions of the assembly were all people oriented.

“Members of the 10th Assembly have been nothing but dutiful and people oriented as laws passed, motioned moved, and oversight function are factored to have direct impact on the people.

“Aside the 28 laws passed, several others are at various stages of being passed; some have gone through the first reading, some second reading and some at the committee level,” he said.

The Abi representative debunked the claim that the assembly was on witch-hunting level owing to its position to probe the privatisation of some of the assets of the state by the immediate past government.

According to him, the assembly’s oversight functions have been commended by many, especially in the area of reclaiming assets and properties belonging to the state.

“For instance, the assembly, through its oversight function was able to discover and recover several heavy duty trucks that found their way into private hands at Obudu.

“Outside the state, we were also able to recover a four-story building in Abuja that was given away for 30 years at a meager sum of N6 million annually.

“We are also investigating few other facilities of the state that were privatised with documents that were not explicit.

“The insinuation that we are witch-hunting is wrong; Prof. Ben Ayade who was the immediate past governor remains our leader and we are appreciative of some of the things he did.

“We are only carrying out our constitutional responsibilities and nothing more,” he said.

Speaking on the relationship between the executive and the assembly, Etta who is also the special adviser to the Speaker, said that it was nothing but cordial.

“Been a former lawmaker himself, the governor has given us free hand to operate; he does not interfere in the house activities and had been attending to our resolutions,” he said. (NAN)(www.nannews.ng)

ESI/DCO/IAA

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Edited by Deborah Coker/Isaac Aregbesola

Eid-el-Kabir: Epe residents lament high cost of livestock

Livestock

By Idris Olukoya

Epe (Lagos State), June 6, 2024 (NAN) As Nigerians prepare for the Eid-el-Kabir celebration, the residents of Epe in Lagos State are lamenting the high cost of livestock.

Though the livestock are available at the popular ram markets at Oke-Oyinbo and T-Junction in Epe respectively, sellers are complaining of low patronage.

Mr Jide Jinadu, a buyer at Oke-Oyinbo Cattle Market, expressed his displeasure over what he termed “the ridiculous prices of ram” this year amidst economic hardship.

Jinadu said that in 2023, Muslims had by this time started buying rams to keep at  home for the Sallah celebration, adding that, however, the reverse was the case this year.

“There are lots of livestock available for sale but because of high cost, there is low turnout of buyers.

“I wish as Sallah draws closer, the sellers may reduce their prices,” he said.

Another buyer, Dimeji Ogundeji, was optimistic that there would be a reduction in cost of ram, when more rams flood the markets in days to come.

“The competition is low for now. By the time more livestock dealers bring more rams to the community, I believe the prices will fall,” he said.

Yet another customer, Mr Jimoh Alao, said that the size of a cow that sold for N250,000 last year, now sells for as much as N450,000.

“I came to the market to buy one cow and two rams. But unfortunately, the money I have can only afford one cow.

“I pray something urgent can be done to regulate the prices of livestock in the market,” he said.

Mrs Yemisi Taiwo, a buyer, expressed her disappointment at the high price of rams at Oke-Oyinbo livestock market, saying that the market, had been highly recommended to her because of its relative cheap prices.

“A friend of mine recommended this market to me that livestock are relatively cheaper here but on getting here, it is another ball game entirely.

“As you can see the size of the ram I have just purchased for N280, 000, the same size sold for N170,000 last year.

The Chairman, Cattle Dealers Association at Oke-Oyinbo Market, Alhaji Ibrahim Gazu, attributed the high cost of livestock to the current economic hardship in the country.

According to him, the small, average and big rams this year are selling at N250,000, N300,000 and N400,000 respectively, as against N120,000, N165,000 and N195,000 they sold for the previous year.

He attributed the hike in prices of ram to the hike in fuel price, global security challenges and change of government.

“We also buy the livestock from the farmers in the North. The amount we buy them determines the amount we sell and vice versa.

“We incur lots of expenses and we have to add it to the price of the rams. Transportation cost and others are not friendly too,” he said.

He said that a cow that used to sell for N230, 000, now sold for between N350, 000 and N470, 000.

He added that many of the livestock are brought from Niger Republic.

“People are complaining of the hike in price, but they must understand that we didn’t buy them cheap.

“So, there is nothing we can do but pray that things improve in the coming days,’’ he said. (NAN)(www.nannews.ng).

SIO/COF
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Edited by Christiana Fadare

Sanwo-Olu gifts LASU’s best graduating student N10m

Convocation

By Oluwakemi Oladipo/Aderonke Ojediran

Lagos, June 6, 2024 (NAN) The Lagos State Government (LASG) on Thursday gifted the best graduating student at the Lagos State University (LASU), Olaniyi Olawale, with a sum of N10 million.

Gov. Babajide Sanwo-Olu made the announcement at the 27th Convocation of the Lagos State University, which held at the Buba Marwa Auditorium in LASU.

The News Agency of Nigeria (NAN) reports that Olawale graduated from the Accounting Education Department with a cumulative CGPA of 4.98.

NAN reports that some eminent stakeholders, Prince Tajudeen Olusi and Dr Samuel Adedoyin, were awarded honorary doctorates while two professors, distinguished Prof. Amidu Sanni and Emeritus Prof. Martins Anetekhai were elevated.

“Congratulations Olaniyi Olawale, well done! Your hard work has brought you this far, the reward for hard work is more work. I believe there are so many Olawales in here, I want you to be inspired, LASU is a school of excellence.

“LASU has continued to lead in academic excellence. Products of this great institution have continued to excel in all their chosen fields.

“Just last week, I swore in some new judges for Lagos State, 10 out of the 13 new judges were alumni of LASU, that has gone to show that we’re indeed great,” Sanwo-Olu said.

The governor also advocated for more inclusivity for women in subsequent editions.

“I’d like to see more inclusivity for our women, as all our recipients are men. We need to have at least a woman in the mix,” he said.

The governor applauded the institution’s governing council for ensuring all-round education.

“I applaud the governing council for instilling discipline and diligence, and this is evident wherever your products are.

“LASU remains the best state university in Nigeria, and also the most digitally-advanced university in Nigeria.

“We’re doing well we shouldn’t rest on our oars, we will keep setting the pace as the state of excellence. Thank you all,” Sanwo-Olu said.

NAN reports that no fewer than 11,195 students graduated from the state university. (NAN)(www.nannews.ng)

OKG/OAF/COF

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Edited by Christiana Fadare