NEWS AGENCY OF NIGERIA
BPP strengthens anti-corruption procurement reforms
Economy/Business

BPP strengthens anti-corruption procurement reforms

314 total views today

By Nana Musa

The Director-General of the Bureau of Public Procurement (BPP), Dr Adebowale Adedokun, says the bureau has revitalised inter-agency collaboration to tackle procurement corruption.

He stated this on Monday in Abuja at a national stakeholders’ interactive workshop with Civil Society Organisations (CSOs) on current procurement trends and reform roles.

Adedokun said the collaboration would enhance the integrity of Nigeria’s public procurement system.

“We’ve strengthened our partnerships with anti-corruption bodies like the EFCC and ICPC,” he said during the workshop.

“Other agencies include the Auditor-General’s Office, Attorney General’s Office, NEITI, CCB, and NFIU.

“This inter-agency effort aims to reinforce anti-corruption measures in public procurement and public finance management,” Adedokun noted.

He explained the reform also includes state governments and local authorities via partnerships with regulatory bodies and ALGON.

According to him, public procurement is central to governance and national economic growth.

“It represents a large share of public spending and is vital for achieving development targets.

“Yet, it remains highly prone to inefficiency, waste, and corruption.

“This highlights the need for ongoing reforms to promote transparency, competition, and alignment with global standards,” he said.

He emphasised the essential role CSOs play in governance and accountability.

“CSOs serve as watchdogs, ensuring procurement processes comply with rules and hold officials accountable.

“Your participation bridges transparency gaps and builds trust between government and citizens.

“CSO roles now include advocacy, capacity building, research, audits, community mobilisation, and policy engagement.

“They also use technical tools, build public trust, and support sustainable development,” Adedokun noted.

He reiterated that procurement significantly influences national development, infrastructure, and service delivery.

Minister of Information and National Orientation, Mohammed Idris, said procurement ensures democracy’s dividends reach the people.

He praised the BPP for consistently sharing procurement plans, tenders, and awards openly.

“I reaffirm the government’s zero tolerance for corruption.

“Public access to procurement data deters abuse and encourages oversight,” Idris added.

 He commended the BPP and promised continued ministerial support for public communication and engagement. (NAN)

Edited by Kamal Tayo Oropo

FG declares national emergency on food security
Agriculture , Food Security

FG declares national emergency on food security

683 total views today

By Tosin Kolade

President Bola Tinubu on Monday declared a national emergency on food security, urging expanded irrigation infrastructure and participatory water resource management nationwide.

Tinubu made the declaration while opening the 6th African Regional Conference on Irrigation and Drainage in Abuja.

He was represented by the Secretary to the Government of the Federation, Sen. George Akume.

He urged African nations to adopt innovative strategies in addressing the continent’s irrigation and water management challenges.

He described the conference theme, “Tackling Irrigation Development and Water Management Crisis in Africa”, as a clarion call to action for sustainable agriculture and economic resilience.

“Africa continues to face major challenges in unlocking its irrigation potential due to inadequate infrastructure, financial constraints, climate change, and governance issues.

“This conference offers a vital platform for us to collectively chart a path forward”.

Tinubu stated that the country had more than 3.1 million hectares of irrigable land located around key river basins such as the Niger and Benue.

In his remarks, the Minister of Water Resources and Sanitation, Prof. Joseph Utsev, said the government had completed several landmark initiatives under the Transforming Irrigation Management in Nigeria (TRIMING) project.

He announced that its successor, the Sustainable Power and Irrigation for Nigeria (SPIN) project, would address outstanding gaps while optimising the economic value of water resources to support food security.

“With the TRIMING project winding down, Nigeria is poised to begin implementation of the SPIN project in partnership with the World Bank.

“This initiative will consolidate on the successes of TRIMING and expand our irrigation potential,” Utsev said.

According to the minister, the TRIMING project, which spanned more than seven years, delivered notable achievements, including the completion of the Dadin-Kowa and Bakolori irrigation schemes and 90 per cent completion of the Middle Rima Valley irrigation project.

It also supported ongoing interventions in Ondo, Kwara, Benue, Kebbi, Edo, Adamawa, and Oyo States.

He also noted that the project established Water Users Associations (WUAs), farmer management centres, and supported market linkages for key value chains such as rice and tomato.

The minister further revealed that River Basin Development Authorities (RBDAs) had developed more than 153,000 hectares of irrigable land and were being partially commercialised to attract private sector investment.

He also referenced the 2025 Flood Outlook and Risk Management Strategy, aimed at minimising flood-related impacts on agriculture.

“This conference is a platform for knowledge exchange, innovation, and collective commitment to resolving Africa’s pressing irrigation and water management issues,” he added.

The Head of the Civil Service of the Federation, Dr Didi Wilson-Jack, called for renewed commitment across all tiers of government to ensure national food security.

Former Permanent Secretary of the Ministry of Water Resources, Mr Godknows Igali, underscored the urgency of strategic planning, particularly in the face of Nigeria’s growing population.

He stressed the importance of professional staffing and proper management of river basins, adding that sub-national governments must play an active role in water governance and food systems.

Gov. Babagana Zulum of Borno, raised concerns over the shrinking farming seasons caused by climate change, warning that unpredictable rainfall patterns were creating uncertainty among farmers.

“Our fertile lands are turning to dust. Irrigation is now a necessity, not a luxury.

“Innovation must not be seen as a privilege of the few, we must empower women and youth who are at the frontline of agriculture,” Zulum said

He appealed to development partners to show greater responsiveness to the challenges of water access and rural farming in Africa.

President of the International Commission on Irrigation and Drainage (ICID), Dr Marco Arcieri, described the conference as both timely and essential.

“This could be a turning point. We’ve celebrated big ideas and set tangible goals to confront the pressing challenges.

“We remain committed to supporting Africa as it faces population growth and climate stress,” Arcieri stated.

It may be recalled that he had earlier addressed participants at the Young Professionals’ Forum, a pre-conference event which gathered emerging leaders in irrigation and water management across Africa.

Arcieri emphasised the role of young professionals in driving sustainable solutions to the continent’s water challenges.

Mr Ibrahim Musa, who leads the African Regional Working Group, expressed optimism that the conference would lead to innovative approaches and actionable outcomes in addressing Africa’s unique irrigation development needs.

The conference continues in Abuja until April 17, with technical sessions, policy dialogues, and field visits to irrigation sites across Nigeria. (NAN)

Edited by Abiemwense Moru

Foundation urges FG to regulate orphanages
General News

Foundation urges FG to regulate orphanages

232 total views today

By Akpan Glory

Mr Dussah Bala, Founder of Habila Life and Mentorship Foundation (HLMF), has called on the Federal Government to monitor and regulate the establishment of orphanages in the country.

He stated this during a visit to Jesus Kids with Special Needs (J.K.S) Orphanage in Kubwa, Abuja, as part of activities to celebrate his birthday.

Bala stressed the need for government to provide grants and put in place proper laws to regulate orphanage homes in the country.

He said that his foundation will continue to focus on providing support for the less privileged, including those incarcerated, sick, orphans, and widows in the society.

“The reason for coming to an orphanage to celebrate my birthday is because I am an orphan too, and I know how it feels.

“I want to use this opportunity to appreciate the Alice Wanny Development Foundation , Ajebota Foundation for Disadvantages Children, Book Club with love and Lead Joe 1808 Foundation for their contributions to making this day a success,” he said.

The Country Director, Leadership Joe 1808 Foundation, Ike Chinedo in his remarks urged parents to avoid taking harmful substances during pregnancy because it may lead to children with special needs.

“Children are gifts from God, no matter the circumstance do not discard your children, plan before bringing children to this world.

“I want to use this opportunity to appeal to everyone to love one another and continue to preach love,” he said.

The Director of JKS Orphanage, Mrs Nifemi Ajideye thanked the guests for their support to the orphanage.

“I thank you all for coming and presenting these wonderful gifts and food to support the J.K.S Orphanage Home.

” I want to use this opportunity to urge the government, NGOs to continue to support the J.K.S Orphanage Home in any way they can, these children need you,” she said.

The director who was represented by the Administrator of JKS, Ms Victoria Adams said the orphanage needs more financial support to cater for the needs of the children.

“We need financial and material support and also enough busses to be able to take the children to school,” she said. (NAN)

Edited by Muhyideen Jimoh

Expert tasks NAESENI on solar panel production 
Science & Tech

Expert tasks NAESENI on solar panel production 

348 total views today

By Sylvester Thompson

Dr Balarade Ahmad, a legal practitioner says mandate of the National Agency for Science and Engineering Infrastructure (NASENI) should be expanded to include engaging in mass production of solar panels and batteries.

Ahmad said this during an interview with the News Agency of Nigeria (NAN) on Monday in Abuja.

The core mandate of NASENI includes developing Nigeria’s science, technology, and engineering infrastructure to enable it drive industrialisation and economic growth.

It involves fostering research and development, promoting indigenous technology solutions, and providing the necessary infrastructure for local industries.

The lawyer urged that NASENI should set up large scale solar photovoltaic (PV) factory and be engage in the production of high capacity batteries.

He told NAN that he had earlier advanced this position in his dissertation for the award of Doctor of Philosophy degree in 2024.

He said the research focused discovering the uncertainties solar panel businesses face in the country as well as business models being deployed to navigate them.

He said the importation of solar panels and accessories posed a great challenge to local businesses, adding that NASENI’s involvement in the business could be a game changer.

“Some of these uncertainties are policy, customers’ purchasing power, environmental and exchange rate, as well as security and market uncertainties.

“The fact that solar entrepreneurs in Nigeria can identify these uncertainties means that they can support the penetration of solar as an alternative to Nigerians

“There is a need for expanded research on the additional components of Dynamic Capabilities (DCs), specifically idea screening, uncertainty and risk management,’’ he said.

He urged Solar Photovoltaic Entrepreneurs (SPVEs) deploy Business Model Innovation (BMI), and participate in policy formulation and implementation for the sustainability of their businesses.

The SPVEs are individuals who establish and manage business pertaining to the solar energy industry.

According to him, when solar entrepreneurs deploy the BMI, it will reduce energy cost and make it more affordable to Nigerians.

NAN reports that BMI involves adapting or reinventing how a company creates and delivers value to customers, potentially through new revenue streams, distribution channels, or value propositions.

The process aims to create a more sustainable and competitive business model that better aligns with changing market needs.

Ahmad explained that the business model would allow solar entrepreneurs to push their products and services to energy poverty prone areas.

Ahmad urged government agencies to support SPVEs by providing information and knowledge-sharing platforms and reliable financial support mechanisms. (NAN)(www.nannews.ng)

Edited by Uche Anunne

Usman commends BUWDA for skill acquisition centre in Borno
General News

Usman commends BUWDA for skill acquisition centre in Borno

357 total views today

By Felicia Imohimi

Dr Bukar Usman, former Permanent Secretary in the presidency, has commended the Bura Women Development Association (BUWDA) for successfully establishing a skill acquisition centre in Marama, Hawul Local Government Area, Borno State.

Usman, President of the Bukar Usman Foundation and President of the Nigerian Folklore Society (NFS), gave the commendation at the Bura Day Celebration, in Abuja.

The event, organised by BUWDA’s Abuja Chapter, was aimed at inaugurating a Microfinance Bank and renovating and furnishing the association’s Guest House at the Skill Acquisition Centre.

As the guest speaker at the event, Usman lauded the association for its commitment to improving the welfare of the people and advancing the development of Buraland.

He identified the centre as the pride of Bura and a model for self-help in Buraland, Biu Emirate, Borno, encouraging others to follow its example.

Usman further described it as a lasting legacy to the goodwill and dedication of the initiators, both living and deceased.

“Skill acquisition is an integral part of education that our people have embraced at all levels, since it was introduced by former colonial administrators and foreign missionaries decades ago.

“BUWDA, which was inaugurated in 2014, established the Marama Skills Acquisition Centre in 2020.

“The centre was formally commissioned by the Borno State Government on Dec. 31, 2022, the same day as the graduation of the first set of trainees.

“Everyone who attended the well-equipped training facilities at the centre has benefited, and the centre remains open to attract more trainees and visitors,” Usman added.

He emphasised that the skills provided at the centre were crucial for supplementing farming, which remained the primary occupation in the region.

He also highlighted the need to modernise farming methods and increase production to meet the growing population.

“We should utilise the vast arable lands that are suitable for mechanisation and avoid relying on inefficient, labour-intensive methods,” he said.

Usman called for the revival of Agricultural Shows to showcase improved crop and animal varieties and reward exemplary farmers.

Regarding the proposed establishment of a Microfinance Bank by the association, Usman said it would improve facilities at the centre and bring modern financial transactions to rural communities, accelerating socio-economic development.

However, he advised that its inauguration should be based on sound feasibility studies and strong financial management practices.

“The responsibility of ensuring the success of this initiative lies with the current and future leaderships of the association,” Usman said.

Mrs Mary Hamman, President of BUWDA, explained that the association aimed to promote self-reliance among its members, enhance skills and capacity building for Bura women and youth in agriculture, organic farming, and entrepreneurship.

She also emphasised that BUWDA’s mission includes providing development projects such as schools, clinics, and potable water for the Bura Community.

“The role of BUWDA is to care for the family and community, to be a mother to all.

“By opening the Skill Acquisition Centre, we aim to keep youth from wandering the streets.

“Many have finished secondary school but have not pursued further education due to the country’s challenges.

“Instead of idleness, we decided to provide them with opportunities to acquire skills and empower themselves,” Hamman said.

She further mentioned that the centre offered various training programmes, including tailoring, mechanical skills, sweater weaving, catering, and ICT.

She added that BUWDA was also collaborating with the University of Jos for counterpart funding to open a satellite campus at the centre. (NAN)(www.nannews.ng)

Edited by Abiemwense Moru

IFAD LIFE-ND: Cross River making impact, says country director
Agriculture

IFAD LIFE-ND: Cross River making impact, says country director

316 total views today

By Christian Njoku

Ms Dede Ekoue, the Country Director, International Fund for Agricultural Development (IFAD) says Cross River is driving transformational impact in its project in Nigeria.

Ekoue said this on Monday during the inauguration and hand-over of open market stalls, toilet and solar powered borehole in Uruandung Community, Akpabuyo Local Government Area (LGA) of Cross River.

The IFAD assisted Livelihood Improvement Family Enterprise in the Niger Delta (LIFE-ND) in collaboration with the Federal Government, Niger Delta Development Commission (NDDC) and Cross River, is a project which targets rural communities.

The project which empowers unemployed and underemployed youths within the ages of 18 and 35 and female headed households, as well as people with disabilities to improve their income and food security, is ongoing in 10 LGAs of the state.

The country director said the first phase of the programme which trained 26,000 agric entrepreneurs in the state had been concluded, adding that the second phase, about to commence had been upscaled to accommodate about 100,000 beneficiaries.

She lauded the government of Cross River for prompt disbursement of its counterpart fund and leadership which had enhanced the quality of the project in the state.

“We have just handed over a market infrastructure to Uruandung Community to support the development of agriculture as a business because there is a lot of agricultural production here.

“We had to support our incubatees who were trained by LIFE-ND when they asked for an evacuation point for their produce such as poultry, cassava, palm oil.

“We are satisfied and from what I have heard from members of the community, this project is fit for purpose,” she said.

Mr Johnson Ebokpo, Cross River Commissioner for Agriculture and Irrigation Development, said that the fact that the projects were need-based was commendable.

According to him, gone are the days when projects are just cited without consultations with the community, adding that part of the broader approach to produce evacuation from the community is to expand the size of the market.

“This will be done by the state government in consultation with the community and this project which has been handed over to the council will be managed by the council,” he said.

On his part, Dr Abiodun Sanni, the National Project Coordinator of the FGN/IFAD/LIFE-ND, said that the projects were a demonstration of President Bola Tinubu’s Renewed Hope Agenda.

He said the community now had an open market stall, a toilet facility and a solar powered borehole which they requested for in terms of priority of infrastructure to drive agro entrepreneurship.

Mr Ephraim Eyo, the Community Relations Officer for Akpabuyo LGA, who spoke on behalf of the people of Uruandung Community, thanked the partners, adding that they would protect and ensure sustainability of the infrastructure. (NAN)(www.nannews.ng)

Edited by Ese E. Eniola Williams

 

FG inaugurates 400KW solar power plant for Yobe teaching hospital
Health

FG inaugurates 400KW solar power plant for Yobe teaching hospital

361 total views today

By Ahmed Abba

The Federal Government on Monday inaugurated the first phase of the 400KW Solar Photovoltaic (PV) Power Plant at the Yobe State University Teaching Hospital in Damaturu.

The Minister of Power, Chief Adebayo Adelabu, said the project was aimed at boosting healthcare delivery and promoting renewable energy in the country.

Adelabu represented by Alhaji Mamuda Mamman, the Permanent Secretary in the ministry, described the project as a milestone in the implementation of President Bola Tinubu’s Renewed Hope Agenda for energy reform.

According to him, the initiative reflects the administration’s determination to ensure energy access becomes a right rather than a privilege, particularly in underserved and remote areas.

“This solar power plant reaffirms our commitment to delivering sustainable and inclusive energy solutions for socioeconomic growth.

“It will ensure that the hospital functions with reliable and clean energy for critical operations like surgeries, equipment usage, and vaccine refrigeration,” Adelabu said.

The minister noted that the project was aligned with the Electricity Act 2023, which prioritises renewable energy adoption through decentralised systems, solar alternatives for healthcare centres, and private sector incentives such as Feed-in Tariffs.

Adelabu emphasised the importance of energy security to national development, adding that stable electricity in health institutions was non-negotiable.

He stated that the Damaturu installation was part of a broader federal strategy to reduce reliance on fossil fuels, address climate change, and create jobs through green technology.

“Today we commission the 400KW Phase I of this project.

“We remain committed to scaling this to 1MW and replicating similar interventions across the country.

“Our goal is to power hospitals, schools and critical infrastructure with clean, reliable energy,” the minister added.

In his remarks, Yobe State Governor, Mai Mala Buni, commended the federal government for the intervention.

Buni, represented by his deputy, Alhaji Idi Gubana, said the project will significantly enhance service delivery and reduce operational costs at the hospital.

“The Yobe State University Teaching Hospital has expanded from a 250-bed to a 750-bed facility, and this solar power plant supports our efforts to provide uninterrupted energy for modern equipment and services,” he said.

Buni also highlighted other state government’s initiatives to improve healthcare, including the establishment of the Yobe State Contributory Healthcare Management Agency (YOCHMA) and the upgrading of nine health centres to general hospitals.

Commissioner for Health, Dr Muhammad Lawan Gana, said the solar plant would support the Senator Mamman Ali Maternal and Child Health Complex, which houses advanced facilities like MRI and 3D Ultrasound machines.

“This project reflects the synergy between the state and federal governments in transforming public health infrastructure,” he said. (NAN)(www.nannews.ng)

Edited by Sadiya Hamza

Alumni urges stronger support for education
Education

Alumni urges stronger support for education

313 total views today

By Taiye Olayemi

Victory High School (VHS) Ikeja Old Students’ Association, 1981 set, says quality education is crucial in alleviating poverty in Nigerian society.

The group urged all tiers of government to boost the education sector by increasing annual funding and reviewing the curriculum regularly.

Mr John Kayode, President of the group, stated this during the Annual General Meeting and New Year Get-Together held on Saturday in Lagos.

Kayode said: “Education plays a key role in reducing poverty and enhancing national development. Government must prioritise budgetary allocation to education.”

He added that UNESCO recommends allocating 4 to 6 per cent of a country’s GDP to education and Nigeria should adopt this benchmark.

“Between 10 and 20 per cent of the education budget should be channelled into teacher training, infrastructure, and educational equipment,” he said.

He further stated that the curriculum should be frequently reviewed by experts across sectors, focusing on 21st-century skills, especially technology.

“Well-paid, well-motivated and qualified personnel must be engaged at all levels—primary, secondary and tertiary,” Kayode stressed.

He also advocated for the implementation of genuine free education, including tuition and boarding, up to senior secondary school level nationwide.

Kayode acknowledged that the current Universal Basic Education (UBE) programme is commendable but insufficient, as it ends at junior secondary level.

He called for a holistic educational approach, urging collaboration between non-profits, corporations and religious bodies to support government efforts.

Such support, he said, should include scholarships, school meals, and other forms of assistance for students and schools.

He explained that collaboration would reduce Nigeria’s high number of out-of-school children, a longstanding challenge to the sector.

“Improving education also means ensuring security across schools nationwide,” he said.

Kayode urged community participation in school development, involving both local authorities and residents in the process.

He said communities must ensure children are in school during class hours, not roaming the streets.

“All of us must ensure our children, and those of our neighbours, receive an education. Education is not a scam,” he added.

Mr Taiwo Salami, Global President of the Alumni Association, urged members to uphold unity and advance the group’s mission.

He revealed plans to create a website for the group and renovate its global secretariat, which is in poor condition.

Chief Richard Ahonaruogho, Global Board Chairman and Patron, praised the 1981 set as “first among equals”.

He said they had shown great dedication and unity in the alumni community.

“You’ve set a high standard. The first to produce an OFR awardee and a governor. Truly admirable,” he stated. (NAN) (www.nannews.ng)

Edited by Kamal Tayo Oropo

JP Morgan’s Nigerian branch, endorsement of Tinubu’s reforms – TSF
Metro

JP Morgan’s Nigerian branch, endorsement of Tinubu’s reforms – TSF

363 total views today

By Salif Atojoko

The Tinubu Stakeholders Forum (TSF) has welcomed plans by JP Morgan, an American banking group, to upgrade its Nigeria representative office into a fully operational business branch.

Malam Danjuma Muhammad, Chairman of TSF, in a statement on Monday, described it as a global endorsement of the economic reforms of President Bola Tinubu.

“According to a recent report by Africa Intelligence, the move is in line with the strategic vision of JP Morgan’s Chief Executive Officer, Jamie Dimon, to deepen the bank’s footprint in Africa, particularly in thriving economies like Nigeria.

“The development is a strong vote of confidence on the Nigerian economy and the robust reform agenda of the Tinubu administration, especially in the areas of monetary policy, ease of doing business, and financial market liberalisation.”

The News Agency of Nigeria (NAN) reports that J.P. Morgan plans to open a fully operational business branch in Lagos, by converting its existing representative office into a fully-fledged business branch.

It has been present in Lagos since the 1980s, indicating a long-term commitment to the Nigerian market. 

The group said JP Morgan’s decision to apply for a merchant banking licence from the Central Bank of Nigeria (CBN) marks a pivotal moment in Nigeria’s financial sector.

It said this positioned the country to benefit from global capital flows, attract more institutional investments, and facilitate improved access to foreign exchange loans and sophisticated asset management services for Nigerian corporate citizens.

“As one of the world’s most influential financial institutions, JP Morgan’s expansion into full business operations in Nigeria sends a powerful signal to other global investors that Nigeria is open for business.

“The upgrade will not only strengthen the financial services ecosystem, but will create job opportunities, increase the CBN’s non-oil revenue through licensing and regulatory fees, and drive down the cost of foreign currency-denominated funding for local businesses.

“We at TSF believe that this milestone is the outcome of President Tinubu’s bold leadership and deliberate policies to stabilise the economy, attract foreign direct investment, and reposition Nigeria as the financial hub of Africa,” the group stated.

It also expressed confidence that the development would catalyse similar decisions by other global financial and investment institutions, leading to a virtuous cycle of economic growth and renewed investor confidence in Nigeria.(NAN) (www.nannews.ng)

Edited by Ismail Abdulaziz

U.S. tariffs may be blessing in disguise for Africa— Alake
Economy/Business

U.S. tariffs may be blessing in disguise for Africa— Alake

464 total views today

By Martha Agas

The Minister of Solid Minerals Development, Dr Dele Alake, has said that the prevailing barrage of tariffs imposed by the United States may be a blessing in disguise for African countries.

Alake stated this during the Fireside Chat session on Foreign Direct Investment, titled ‘The Alchemy of Foreign Direct Investment: Turning Policies into Prosperity for Emerging Global Markets in Abu Dhabi, United Arab Emirates.

In a statement by his Special Assistant on Media, Segun Tomori, on Sunday in Abuja, the minister’s remarks were part of his contribution to the discourse on the impact of the tariffs on Africa’s economic climate.

Tomori said the event was part of the the 14th edition of the Annual Investment Meeting (AIM) Congress.

The News Agency of Nigeria (NAN), reports that US President Donald Trump recently announced new tariffs on nearly all U.S. trading partners.

“The barrage of tariffs imposed carries wide-ranging implications for the global economy, U.S. trade relationships, and developing nations, including those in Africa,” he said.

The media aide also noted that Alake called on African countries to adopt an introspective approach by looking inward and adjusting their domestic policies to focus more on intra-African trade, with less dependence on external forces.

Tomori noted that the minister stressed the need need for African countries to organise economic imperatives to ensure a balance of trade and strengthen intra African trade among countries.

The minister highlighted the persistent challenge faced by African countries, where rare mineral resources were exported without any value addition.

According to him, the old ‘pit-to-port’ model, where resources are extracted and sent out of the continent can no longer be allowed to continue.

“Interested investors, who wish to come into Africa are welcome to set up their factories in the continent, add value to our mineral resources and create jobs here, rather than just shipping our wealth out of our shores”, he stated.

The minister said that his stance on protecting Africa’s mineral wealth has been adopted by many African countries, particularly mineral-producing nations, where he served as the pioneering chairman of the African Minerals Strategic Group (AMSG).

He reaffirmed that Nigeria’s policy on mineral sector development remained strictly focused on value addition and boosting the local economy through job creation.

NAN reports that the Annual AIM, was aimed at promoting international investment, support sustainable economic growth, encourage innovation, and foster partnerships between investors, governments, and businesses.

The AIM also serves as a platform for discussing investment trends in sectors such as digital economy, future finance, and sustainable development.

The 14th edition held from April 7 to 9 is with the theme ‘Mapping the Future of Global Investment: The New Wave of a Globalised Investment Landscape – Towards a New Balanced World Structure’.(NAN)(www.nannews.ng)

Edited by Gabriel Yough

X
Welcome to NAN
Need help? Choose an option below and let me be your assistant.
Email SubscriptionSite SearchSend Us Email