News Agency of Nigeria
Nigeria’s economic fortunes depend on data-backed reforms-Afrinvest MD

Nigeria’s economic fortunes depend on data-backed reforms-Afrinvest MD

 

 

 

 

By Olawunmi Ashafa

An Investment banking group, Afrinvest, has called for research-driven reforms to unlock Nigeria’s economic potential beyond the trillion-dollar gross domestic product milestone.

Its Managing Director, Dr Ike Chioke, made call at the company’s 30th anniversary celebration and the unveiling of the 20th edition of its flagship Banking Sector Report (BSR) on Tuesday in Lagos.

The theme of the report is “ACT-BOLD: Beyond a Trillion-Dollar Economy”.

The News Agency of Nigeria (NAN) reports that the report outlines seven priority sectors, agriculture, creatives/tourism and hospitality, technology, banking & finance, oil and gas, logistics, and domestic manufacturing, as accelerators of growth that can reposition Nigeria as a globally competitive economy.

Chioke said the company’ 30-year journey had been about producing ideas that shape policy and guide stakeholders through economic turbulence.

“Our research has consistently shown that Nigeria’s fortunes are inseparable from global tides.

“From the banking reforms of the early 2000s, to the 2008 financial crisis, the 2016 recession, and the COVID-19 pandemic, we have seen that clarity, innovation, and bold action remain the most reliable drivers of recovery and growth,” Chioke said.

He noted that past editions of the BSR had spotlighted critical turning points.

He said this includes the 2009 banking sector collapse, the 2017 recovery phase titled “Nigeria Reopens for Business”, and the 2022 warning, “Brace for Impact,” which foreshadowed subsidy and FX reforms later implemented by President Bola Tinubu.

“This 20th edition is both a call to action and a framework for Nigeria’s future.

“If we harness these seven industries strategically, Nigeria can move beyond short-term fixes and position itself as a trillion-dollar-plus economy, just like India and Indonesia have done,” Chioke added.

The event drew policymakers, regulators, and industry leaders, who praised Afrinvest’s consistency in providing research-driven solutions to Nigeria’s economic challenges.

Also, Chairman of Afrinvest, Mr Godwin Obaseki, represented by Prof. Osita Ogbu, Development Economist and former presidential Economic Adviser, said the company’s three-decade journey reflected a legacy of resilience, innovation, and transformative impact in Nigeria’s financial markets.

According to him, the company has not only facilitated landmark acquisitions but also built innovative investment instruments that continue to redefine access to opportunities for clients.

He highlighted some of Afrinvest’s landmark transactions to include the UBA and Standard Trust Bank merger in 2004, the 350 million eurobond issued by GTBank in 2007, and Dangote Cement’s N2.1 trillion listing in 2010, the largest in the history of the Nigerian Exchange.

“Our legacy is not just in numbers but in impact. We have supported governments, facilitated investments that built infrastructure, and contributed to the growth of international markets.

“With courage, clarity, and creativity, Afrinvest is ready for the next chapter, confident that together, we can go beyond limits,” the chairman added.

NAN reports that the event drew regulators, policymakers, and industry leaders, who commended the company for three decades of thought leadership and its solution-driven approach to the nation’s economic transformation. (NAN)(www.nannews.ng)

 

Edited by Folasade Adeniran

Akume urges organisations to harness emerging technologies for national growth

Akume urges organisations to harness emerging technologies for national growth

By Rukayat Moisemhe

Sen. George Akume, Secretary to the Government of the Federation, has urged organisations to harness emerging technologies to drive Nigeria’s national aspirations.

 

He made the call on Monday at the Nigerian Institute of Management Chartered (NIM) annual conference, with the theme ‘Leveraging Emerging Technologies to Drive Innovation, Creativity and Productivity.’

 

The News Agency of Nigeria (NAN) monitored the conference online from Lagos.

 

Represented by Mr Francis Ikyenge, Director at the Office of the Secretary to the Federation, Akume described technology as the foundation of national competitiveness and institutional relevance.

 

He told organisations that adopting emerging technologies would help transform challenges into opportunities and accelerate sustainable development across various sectors of the economy.

 

Akume said Nigeria’s youthful population and growing digital economy made the conversation on emerging technologies especially critical for the nation’s future progress.

 

He noted that Nigeria had a unique opportunity to adopt and adapt technologies to drive productivity in governance, agriculture, industry, education, health and services.

 

“Innovation and creativity, powered by technology, can unlock efficiency, reduce costs, enhance transparency, and ultimately improve citizens’ quality of life,” Akume stated.

 

He stressed that President Bola Tinubu’s administration had consistently demonstrated commitment to harnessing emerging technologies as catalysts for transformation, innovation and productivity.

 

Akume added that by prioritising artificial intelligence, digital finance, renewable energy and youth-focused innovation hubs, President Tinubu was ensuring Nigeria remained aligned with global technological trends.

 

He commended the NIM for convening the conference, describing it as a platform shaping Nigeria’s competitiveness in the global knowledge economy.

 

“The Federal Government remains committed to creating an enabling environment for innovation, including investments in digital infrastructure, capacity building, research support and partnerships with the private sector and academia,” he said.

 

He added that collective efforts were vital to harness emerging technologies in achieving Nigeria’s national aspirations.

 

NIM President, Commodore Abimbola Ayuba (rtd), said forward-looking nations and organisations must leverage technologies to drive innovation, creativity and productivity.

 

Ayuba described the annual management conference as the flagship of the institute’s programmes and an important contribution to nation building.

 

He said the conference’s outcomes would form strategies and recommendations which NIM would present to government and stakeholders to foster a technologically viable nation.

 

Ayuba also stressed the need for a peaceful environment, saying meaningful development could not thrive in chaos or insecurity.

 

“The Institute urges all Nigerians to join hands with the present administration to move the country forward,” he said.

 

He charged professional colleagues to uphold discipline, efficiency, integrity, accountability, equity and transparency in their lives, workplaces and the nation at large.

 

“It is only when we give our best that we can drive the aggregates of national development,” Ayuba added. (NAN)

Edited by Kamal Tayo Oropo

Trade fair hosted 2,500 exhibitors, attracted 1.5m visitors in 2 decades- ACCI

Trade fair hosted 2,500 exhibitors, attracted 1.5m visitors in 2 decades- ACCI

By Vivian Emoni

The Abuja Chamber of Commerce and Industry (ACCI), says its International Trade Fair (AITF), hosted 2,500 exhibitors and attracted more than 1.5 million visitors from diverse economic sectors in the past 20 years.

Chief Emeka Obegolu, President of the ACCI, disclosed this while addressing newsmen ahead of the upcoming 20th edition of the AITF, on Monday in Abuja.

Dr Aliyu Hong, ACCI 2nd Deputy President and Chairman, 20th edition of the AITF, who represented Obegolu during the news conference.
He said that the exhibitors were from Africa, Europe, Asia and the U.S.

“The AITF has hosted over 2,500 exhibitors from Africa, Europe, Asia, and the Americas and attracted more than 1.5 million visitors from diverse economic sectors in the past 20 years.

“The AITF has also facilitated billions of naira in trade deals, investments and partnerships; established platforms that have driven Business-to-Business, (B2B), Business-to-Government (B2G) and Business-to-Consumer (B2C) engagements.

“The trade fair has as well provided consistent visibility for Small and Medium Enterprises (SMEs), enabling them to reach new markets locally and internationally,” he said.

Obelogu noted that the AITF has fostered collaborations with more than 40 diplomatic missions, trade agencies and international business associations.

According to him, the milestones reflect the AITF’s role as a catalyst for Nigeria’s economic growth and a key driver of Africa’s integration into the global economy.

He said that the 2025 AITF theme, tagged “Sustainability: Consumption, Incentives and Taxation”, adding that the theme underscored the ACCI commitment to tackling pressing economic and environmental challenges.

The ACCI president noted that a major highlight of the 2025 AITF would be the inauguration of BABA FEST (Buy Africa, Build Africa) initiative.

He said that it was ACCI’s initiative to promote African products and services within the continent and globally, adding that the BABA FEST would celebrate Africa’s creativity, talent, and entrepreneurial energy.

He said that the BABA FEST was more than a festival; “it is a call to action for Africans to trade with Africa, invest in Africa and build Africa.

He said that this year’s fair would bring together policymakers, industry leaders, entrepreneurs and development partners.

He added that the effort was to examine how consumption patterns, incentives and taxation can be aligned to drive responsible production, investment and environmental stewardship, in line with the UN’ Sustainable Development Goals (SDGs).

“So far, we are expecting about 20 country exhibitors and 20 diplomatic countries.

“As Nigeria’s economy continues to grow, we must ensure that this growth is sustainable, inclusive and driven by innovation.

“The fair will also future more than 100,000 participants across 12 days;
exhibitions covering trade, industry, agriculture, fintech, sustainable energy, transportation, environmental solutions and creative industries.

“There will be panel sessions with Central Bank of Nigeria (CBN), Federal Inland Revenue Service (FIRS), (FCT IRS), National Council on Climate Change, relevant ministries, international agencies, among others,” he said.

The News Agency of Nigeria (NAN) reports that the AITF would begin from Sept. 25 to Oct. 6 2025.

Obelogu, however, called on all stakeholders, the government, private sectors, development partners, media and the public, to support the AITF to help shape a sustainable and prosperous economic future for Nigeria and Africa.(NAN)

Edited by Francis Onyeukwu

ADITOP dissociates from NUPENG strike

ADITOP dissociates from NUPENG strike

Strike

By Emmanuella Anokam

The Association of Distributors and Transporters of Petroleum Products (ADITOP) has dissociated itself from the intended strike by the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) and its cohorts.

The National President of ADITOP, Alhaji Lawan Dan-Zaki, said this in an interview with the News Agency of Nigeria (NAN) on Monday in Abuja.

NAN reports that NUPENG had announced that its members would commence a nationwide strike from Monday, and warned of an imminent nationwide fuel scarcity.

The strike is in protest against what it described as anti-labour practices linked to the deployment of newly imported Compressed Natural Gas (CNG)-powered trucks by the Dangote Refinery, for direct distribution of petroleum products.

Dangote’s programme on direct distribution of petroleum products to end users is aimed at eliminating logistics costs, enhancing energy efficiency, promoting sustainability and supporting Nigeria’s economic development.

Dan-Zaki, while stating that the purported strike was uncalled for, added that ADITOP was in support of Dangote’s new petroleum products distribution scheme.

He said that Dangote’s transformational efforts would not only sanitise the industry, but would further stabilise both supply and distribution, while providing jobs and new skills to millions of unemployed Nigerians.

“We, members of ADITOP, hereby inform the General Public and the Federal Government that we dissociate ourselves from any intended strike or disruption by NUPENG and its cohorts.

“We intend to continue moving petroleum products across the country without fear of molestation.

ADITOP is in support of any petroleum products distribution scheme aimed at distributing products to the end users seamlessly and promoting economic development,’’ he said.(NAN)(www.nanews.ng)

Edited by Kadiri Abdulrahman

Customs board approves 0 duty-free limit

Customs board approves $300 duty-free limit

Imports

By Martha Agas

The Nigeria Customs Service Board (NCSB) has approved a 300 dollar duty-free limit for imports, a new policy that takes effect on Sept. 8.

The Spokesperson of the Nigeria Customs Service (NCS), Abdullahi Maiwada, in a statement on Sunday in Abuja, said that the decision was reached at the board’s recent 63rd regular meeting.

The meeting was chaired by the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun.

Maiwada said that the initiative, also known as “De Minimis” threshold, aims to stimulate cross-border e-commerce, minimise clearance delays and further consolidate Nigeria’s position as a regional leader in trade facilitation.

He said that the move aligns with the best global practices, aimed at simplifying clearance processes for low-value consignments, enhance trade facilitation and provide clarity for e-commerce stakeholders and travelers.

The spokesperson explained that the “De Minimis” threshold is the value below which imported goods are exempted from payment of customs duties and related taxes established by the national legislation.

He said that non-compliance to the directive would include forfeiture, arrest and other sanctions stipulated in the NCS Act, 2023.

“After a comprehensive review of similar practices across continents, the board approved 300 U. S. dollars as Nigeria’s official De Minimis threshold.

“This exemption will apply to low-value imports, e-commerce consignments, and passenger baggage.

“The threshold, which is restricted to four importations per annum, aligns with Section 5(c and d), Section 158 subsections (5 and 6), other relevant provisions of the NCS Act, 2023 as well as international instruments.

“This include the World Trade Organisation (WTO) Trade Facilitation Agreement and the World Customs Organisation (WCO) Revised Kyoto Convention,“ he said.

He noted that under the new regulation, goods valued at 300 dollars or less would be exempted from import duties and taxes, provided they are not prohibited or restricted items.

He, however, added that passenger merchandise in baggage not exceeding the same value would also be exempted.

According to him, the framework further ensures immediate release and clearance of eligible consignments without post-release documentation.

Maiwada said that it also mandates strict enforcement measures against stakeholders who attempt to manipulate invoices or evade duty obligations.

He explained that NCS had established multi-channel helpdesk platforms to facilitate the smooth implementation of the “De Minimis” regulation.

“These dedicated channels are designed to serve as direct points of engagement for stakeholders, providing timely guidance on compliance requirements, addressing inquiries, and resolving complaints that may arise during implementation, “ he said.

He assured that the service remained committed to accountability, discipline and integrity in discharging its statutory mandate.

The spokesperson said that NCS would continue to strengthen public trust and ensure that its personnel reflect the values of service, fairness, and national responsibility.

This, he said, is through its impactful reforms, transparent processes and strict enforcement of ethical standards.

Maiwada noted  that the board also deliberated on disciplinary cases presented during the session, following viral videos circulated recently on social media, showing acts of misconduct by some officers.

In line with that, he said that the board approved the demotion of two officers to the next lower rank, while also granting reinstatement to two officers whose cases were favourably reconsidered.

He said the sanctioned officers must undergo a mandatory medical re-evaluation by a medical board to determine their fitness to remain in the service and serve as a deterrent to other officers.

Maiwada said that the board further issued a stern warning to all officers against the abuse of banned substances and other forms of unethical behaviour.

He stressed that such conduct would not be tolerated under any circumstances. (NAN)(www.nannews.ng)

Edited by Olawunmi Ashafa

FG validates new industrial policy, targets inclusive growth, job creation

FG validates new industrial policy, targets inclusive growth, job creation

By Lucy Ogalue

The Federal Government, in Abuja, validated the Nigeria Industrial Policy (NIP), describing it as a framework to drive inclusive growth, job creation and national competitiveness.

Sen. John Owan Enoh, Minister of State for Industry, said at the event that the policy marked a new covenant to reposition the economy on productivity and resilience.

He said that NIP was designed to operationalise President Bola Tinubu’s Renewed Hope Agenda by transforming industrial sector into the true engine of sustainable growth and national pride.

The minister explained that the policy had been subjected to wide consultations involving the Manufacturers Association of Nigeria (MAN), Organised Private Sector of Nigeria (OPSN), Nigeria Economic Summit Group (NESG), the academia, labour, development partners and MSMEs.

“What emerges today is not just government’s vision; it is Nigeria’s collective industrial charter,” Enoh said.

He emphasised that the success of the policy would depend on effective execution, noting that policies, however brilliant, do not transform nations without measurable implementation.

Enoh said that the NIP would focus on power for production, credit for SMEs, incentives for local content, modern infrastructure and technology that enhance competitiveness.

According to him, the policy is also aligned with global and continental frameworks including the African Continental Free Trade Area (AfCFTA), the UNIDO Programme for Country Partnership and Africa’s Agenda 2063.

The minister called for shared stewardship among government, industry, academia, labour and civil society to ensure that the validation translates into industrial transformation.

He commended the National Institute for Policy and Strategic Studies (NIPSS) for stewarding the process and thanked all stakeholders for shaping the policy.

Enoh expressed optimism that the NIP would help Nigeria shift from being a consumer economy to a producing nation and from exporting raw materials to exporting finished products.

Stakeholders expressed confidence that the new NIP would revive the sector, strengthen manufacturing and enhance economic diversification, but stressed the need for effective implementation.

Prof. Ayo Omotayo, Director-General of NIPSS, said that the framework would address long-standing challenges and enable the sector to contribute at least six per cent to Gross Domestic Product (GDP).

Omotayo explained that the policy identified stakeholders across the industrial ecosystem, clearly defined their roles and introduced monitoring mechanisms to ensure accountability and coherence in execution.

“The new NIP identifies key stakeholders and industrial trust centres, including development partners, with clearly defined roles and timelines.

“The framework also provides for monitoring and evaluation mechanisms to ensure accountability, so that any sector that falls short of its role can be promptly corrected.

“The reforms will bring coherence to Nigeria’s industrial ecosystem, enabling manufacturing and other subsectors to contribute more meaningfully to economic growth,” he said.

Representing the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Mr Abubakar Audu, commended the Ministry of Industry for driving an inclusive process.

Audu said that the policy reflected inputs from the private sector, particularly on the role of MSMEs, which it described as the backbone of the industrial base.

He said that the policy would strengthen value addition, expand markets through AfCFTA, support innovation, green growth and digital transformation.

Also the African Development Bank (AfDB), represented by Rosemond Offei-Awuku, said that industrialisation was central to the bank’s 2024 to 2033 strategy and to Nigeria’s economic transformation.

She highlighted AfDB’s ongoing support through projects such as the Special Agro-Industrial Processing Zones (SAPZ), the Digital and Creative Enterprises Programme and the Ekiti Knowledge Zone, designed to boost manufacturing, agriculture and the digital economy.

She said: “Strengthening value-chains, improving infrastructure and integrating MSMEs into AfCFTA will be vital to Nigeria’s industrial success.”

The event was attended by various stakeholders, government officials and partners among others who expressed their commitment to the policy.

The stakeholders agreed that the policy represented a new opportunity for industrial rebirth, but underscored the importance of policy consistency, infrastructure, financing and partnerships to translate the blueprint into results. (NAN)(www.nannews.ng)

Edited by Francis Onyeukwu

GITEX 2025: MTN pushes for regional integration in telecommunications

GITEX 2025: MTN pushes for regional integration in telecommunications

 

 

By Rukayat Moisemhe and Funmilola Gboteku

MTN Nigeria on Wednesday advocated for regional integration in telecommunications to help lower data and roaming charges, making cross-border communication seamless and more affordable.

Mr Ayham Moussa, Chief Operating Officer, MTN Nigeria, made this call in Lagos at the Gulf Information Technology Exhibition (GITEX) 2025 conference.

The MTN boss stated that community engagement, state-level investments and policy harmonisation across African countries were key to reducing costs and improving service reliability.

He called for stronger collaboration between operators, governments and communities to address infrastructure challenges and harmonise processes and practices to advance telecommunications service delivery across Africa.

Moussa said the company currently operated about 40,000km of fibre lines across the continent, but vandalism and poor protection of critical infrastructure continued to undermine connectivity and service quality.

Moussa noted that 70 per cent of its network downtime was linked to power supply issues, while over 1,700 fibre cuts were recorded in the last six months.

Moussa stressed the critical need for robust infrastructure and advanced connectivity solutions to unlock Africa’s full digital potential.

He added that education and awareness are crucial in reducing fibre cuts and promoting the protection of critical national infrastructure.

“We are at a pivotal moment in Africa’s digital journey as the demand for connectivity is skyrocketing, and we, as industry leaders, have a collective responsibility to ensure that this demand is met with resilient, scalable, and accessible infrastructure.

“Our focus at MTN is not just about expanding networks; it’s about building the foundational highways for digital inclusion and economic growth across the continent.

“We are working closely with the Nigerian Communications Commission (NCC) and other stakeholders to promote awareness, protect infrastructure and strengthen power support for telecom sites.

“We can move into harmonising the processes and practices between the states and the whole country that will allow us to employ faster and cheaper and consequently reflect that in the future,” Moussa added. (NAN)(www.nannews.ng)

Edited by Christiana Fadare

Africa holds demographic competitive advantage for digital economy expansion- IFC

Africa holds demographic competitive advantage for digital economy expansion- IFC

By Rukayat Moisemhe/Funmilola Gboteku

International Finance Corporation (IFC) says Africa possessed demographic competitive advantage for digital economy expansion with Nigeria positioned as the ground zero base for activity.

Dr Dahlia Khalifa, Regional Director, Central Africa and Anglophone West Africa, IFC Nigeria, said this on Wednesday in Lagos at the Gulf Information Technology Exhibition (GITEX) Nigeria 2025 conference.

Khalifa noted that across Africa, the digital economy was expanding at remarkable speed powered by internet adoption, mobile penetration, and a generation of young innovators rewriting its future.

She added that the demographic realities in Africa meant that its total population would grow from 1.5 billion to 2.5 billion over the next 25 years.

She also said that the population increase would bring 600 million youths, possibly entering the job market, charting the future leading to the fastest growth in the world.

“With more than 60 per cent of Africans under the age of 25, and smartphone adoption rising steadily, Africa is home to one of the largest pools of digital natives in the world.

“Over the past decade, Africa’s digital economy has been one of the fastest growing in the world and is quickly becoming a centre of attraction.

“By 2030, it is projected to contribute to about $180 billion to Africa’s Gross Domestic Product (GDP),” she said.

The IFC regional director further said that in Africa, Artificial Intelligence (AI) was not just about efficiency but about transformation.

According to her, AI holds extraordinary promise that can enable Africa scale traditional barriers to growth, and accelerate progress across sectors such as health, education, agriculture, finance and business.

Khalifa however, warned that unless Africa invested in infrastructure, including energy, broadband, digital connectivity and skills, the benefits of AI could bypass the continent.

She quoted IFC’s recent report titled “Digital Opportunities in African Businesses” that stated that the digital transformation could benefit over 600,000 formal businesses and 40 million micro-enterprises.

This development, she said, would boost productivity, raise wages, and create better quality jobs and livelihoods for all.

“This is why the role of the private sector and public-private dialogue is decisive.

“Infrastructure is the foundation, but entrepreneurship is the engine and to seize this opportunity, we need reliable broadband, robust data centres, modern digital infrastructure, and more energy, particularly clean energy that is sustainable.

“We need investment in skills and training programmes that prepare Africa’s youth for the jobs of today and tomorrow.

“We need partnerships between governments, the private sector, and international institutions to create the right policies, foster trust, and mobilise capital at scale,” she said.

She revealed that the IFC was committed to helping to unlock the future of Africa’s digitalisation.

Khalifa noted that over the last decade, IFC had financed over $6 billion in Africa’s digital infrastructure, from data centres to fibre networks to affordable broadband.

“By harnessing AI and digital technology responsibly and building the right partnerships, Africa can shape a digital economy that is inclusive, innovative, and globally competitive,” she said.

Trixie Lohmirmand, Executive Vice President, Dubai World Trade Center, lauded the zeal and resilience of Lagos startup innovators, saying they thrived in spite of power issues and developing infrastructure.

She described start-ups in the country as the fastest rising, fastest growing emerging stars in the world, beating Mumbai, Sao Paulo, Turkey among other nations.

“Nigeria scales with resilience and there is mega high speed space for technology to thrive in Lagos and Nigeria.

“In Lagos where the unicorns are coming out from, they build new infrastructure and industry all together, nothing ever before and we would not deny Nigeria access to thrive,” she said.

Mrs Olu Olufemi-White, Chief Executive Officer (CEO), Alami Capital, also speaking said that great things happened when visionary leaders create space.

She described GITEX as a great space for innovation and ideas and a launchpad for new generation to forge digital frontiers.

She said that Nigeria was embracing the challenge and boldly trying to forge forward adding that the next stage of innovation could built on local demands.

“The future of technology would be shaped by the drive of Nigerian people to solve problem with the support of institutions,” she said. (NAN)

Edited by Deborah Coker

‎Tinubu to inaugurate 6,000mt lithium plant in Nasarawa

‎Tinubu to inaugurate 6,000mt lithium plant in Nasarawa

‎Lithium

‎By Muhyideen Jimoh

‎President Bola Tinubu is expected to inaugurate a brand-new 6,000-metric-ton lithium processing plant built by Chinese investors in Nasarawa State, Gov. Abdullahi Sule said.

‎Sule disclosed this after a closed-door meeting with President Tinubu on Wednesday at the Aso Rock Villa, Abuja.

The facility, located in Nasarawa Local Government Area, is the second lithium plant in the state and twice the size of the 3,000MT plant inaugurated in 2023.

‎While no specific date was provided, the governor said the visit would happen after the President’s return from his scheduled visit to France.

‎“The Chinese investors have just concluded building the plant and it is ready for commissioning.

‎“Mr President promised that on his return from his short vacation, he’s going to come to Nasarawa to commission the project,” Sule stated.

‎The News Agency of Nigeria (NAN) reports that lithium, a key element in electric vehicle batteries and energy storage systems, has drawn growing foreign interest amid the global shift to clean energy.

Sule said the new project aligns with his administration’s goal to position Nasarawa as a hub for lithium processing.

‎“Today has to do with the lithium processing plant that we have just finished building by an investor who came from China.

‎“If you remember, last year (2024), we commissioned the 3000 metric tons capacity lithium processing plant in Nasarawa local government.”

‎“And during the period, another set of investors, because of how excited they were with the quality of lithium and the commercial deposit that they noticed, fulfilled their promise to build something bigger.”

‎”Since the twilight of the Buhari years, the Federal Government said it has been working to attract more value-added investments in critical minerals.”

‎Sule noted that the latest plant is part of a broader wave of Chinese-backed projects following positive mineral assessments in the state.

‎The governor also credited the Tinubu administration’s economic reforms for enabling infrastructure expansion in the state.

‎“There has been significant revenue improvement. With the huge improvement we have seen, we came with the passion to go ahead and do more.”

‎“Instead of borrowing from the banks, we are now utilising the improved resources that we have.”

‎He added that plans are underway to scale up the state’s agricultural development, leveraging new revenue streams and investor confidence. (NAN)

Edited by Oluwafunke Ishola

FG, stakeholders move to strengthen livestock sector

FG, stakeholders move to strengthen livestock sector

By Vivian Emoni

The Federal Government and stakeholders at both local and international levels have agreed to collaborate effectively to strengthen and promote the livestock sector across the country.

The commitment was made at a Stakeholders’ Engagement Meeting on Wednesday in Abuja, ahead of the upcoming Trade Fair and Exhibition and the Annual Livestock Development Summit.

The meeting was organised by the Abuja Chamber of Commerce and Industry (ACCI) in partnership with the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA).

Mr Agabaidu Jideani, Director-General of ACCI, said the essence of the meeting was to consolidate partnerships with stakeholders to advance livestock development.

Jideani added that President Bola Tinubu had given assurance that all bottlenecks hindering the agricultural sector’s potential, including livestock production, would be removed.

He said that the collaboration would strengthen and promote the sector, adding that they would help to achieve the mandate and objective of the administration.

According to him, we are committed to ensure that we work with various stakeholders both local and international to ensure that we achieve this goal.

“Our reason for today’s meeting is to discuss how we can promote the sector by gathering the stakeholders, hear from them, exchange our ideas and knowledge and put them into practice

“This effort will support us to move the sector to a greater level. That is our reason for gathering people from different countries,  government bodies and other relevant stakeholders from our country to share our views,” he said.

Jideani also emphasised on the Trade Fair and Exhibition, adding that it was an opportunities where investors from both states and other countries would showcase their talents and products to boost trading.

Amb. Sidi Ladan, Presidential Livestock Reforms Implementation  Committee, said that Tinubu inaugurated the Presidential Committee on Implementation of Livestock Reforms in 2024.

Ladan said that the essence was to address obstacles to agricultural productivity and open up new opportunities which benefit farmers, herders, processors and distributors in the livestock-farming value chain.

He said that the committee was drawn from the public and private sectors, state governors, and all Nigerians, to ensure that the sector was strengthen as well as achieving the sectors” mandate.

Also, Senior Special  Assistant to the President on Livestock Development, Mr Idris Abiola-Ajimobi, said that the collaboration with relevant stakeholders would support in achieving the mandate in the sector.

Abiola-Ajimobi said that the president was committed in ensuring that the sector was reform and improved effectively.

According to him, the president wants to ensure that the sector is strengthen, that is why he decided to inaugurate the committee.

“Livestock farming is a significant part of Nigeria’s agricultural sector and contributes notably to the country’s economy.

“The sector will boost agricultural productivity, enhance export opportunities and stimulate economic growth by fostering a robust value-chain that benefits farmers, processors, herders, distributors and consumers alike,’’ he said.

The News Agency of Nigeria (NAN),  reports that the stakeholders at the meeting involved delegates from  Republic of Cuba, Kenya, Republic of Indonesia, Mexico, China, including ABIS Group, among others.

The stakeholders demonstrated interests to work with the government to ensure that the mandates and objectives of the sector were achieve effectively.

The stakeholders also commended the President, ACCI  and others on their efforts to ensure that the sector was strengthened.

On the Abuja Trade Fair and Exhibition which would be coming up on Sept. 25 to Oct 6, 2025, the stakeholders expressed their supports and promised that the event would achieve positive result.(NAN)

Edited by Francis Onyeukwu

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