NEWS AGENCY OF NIGERIA
Artisans key to inclusive economic growth, says BOI

Artisans key to inclusive economic growth, says BOI

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By Lucy Ogalue

The Bank of Industry (BOI) has described Nigerian artisans and technicians as the backbone of inclusive economic growth and key to the country’s future industrial development.

The Managing Director of BOI, Dr Olasupo Olusi, said at the Nigerian Artisans Leadership Summit 2025, on Wednesday in Abuja.

Olusi said that with more than 12 million artisans nationwide, the sector held immense potential for grassroots enterprise and national transformation.

The News Agency of Nigeria (NAN) reports that the summit was themed “Unlocking the Inherent Potential of Nigerian Artisans and Technicians”.

It brought together artisan leaders, development partners, government officials, and other stakeholders to discuss challenges and opportunities within the informal sector.

Olusi was represented by Ms Mabel Ndagi, Executive Director, Public Sector and Intervention Programmes of the bank.

He said that the bank’s vision for inclusive development was centred on enabling artisans to thrive through better access to finance, training and integration into formal economic systems.

“The theme of this summit goes to the heart of inclusive development.

“It reflects a vision of Nigeria where talent is not wasted due to lack of support and where informal skills are not excluded from formal opportunities,”he said.

Olusi identified several key challenges artisans faced, including limited access to affordable finance, outdated equipment, poor business structures, lack of export participation and inadequate research and development.

To address these issues, Olusi said that BOI had structured its 2025 to 2027 corporate strategy around six thematic pillars.

“These include supporting Micro, Small and Medium Enterprises (MSMEs), youth empowerment and skills development and digital economy expansion.

“It also includes advancing climate sustainability, investing in critical infrastructure and promoting gender inclusion.

“These focus areas are not just bureaucratic categories, they are lenses through which we are re-imagining support for artisans and grassroots entrepreneurs,” he explained.

Olusi reaffirmed BOI’s commitment to providing both financial and advisory support to Nigerian enterprises that sustain local economies and spur national growth.

“Our vision as a development finance institution is to transform Nigeria’s industrial landscape by empowering the enterprises that power this nation.

“At the heart of this vision are artisans and grassroots entrepreneurs like you.

“And true national development cannot be outsourced or imported, but must be built by skilled hands and passionate hearts,” he said.

The Artisan Leadership Summit marks another step in BOI’s broader drive to deepen financial inclusion, unlock the potential within the informal sector and promote sustainable livelihoods across the country. (NAN)

Edited by Francis Onyeukwu

Tinubu’s energy sector reforms driving economic growth- Abdullahi

Tinubu’s energy sector reforms driving economic growth- Abdullahi

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By Emmanuel Mogbede

Dr Mustapha Abdullahi, Director- General, Energy Commission of Nigeria (ECN), says President Bola Tinubu-led administration is driving sustainable development and economic growth through advancements in the energy sector.

 

Abdullahi said this at a dinner in Abuja organised by some Nigerians within and outside the country to celebrate the mid-term of the Tinubu-led government.

 

The event with the theme: “Two Years of Impact: Honouring Mr President and the Voices of Renewed Hope”, was attended by APC chieftains, government appointees and State Governments representatives among others.

 

The ECN DG, while speaking on the administration’s solarisation initiatives, said that the Tinubu was not relenting on his oars to make the country better for all.

 

The News Agency of Nigeria (NAN) reports that solarisation refers to the process of exposing something to sunlight or solar energy, which is in line with the energy transition of the administration.

 

He highlighted the administration’s strides in driving sustainable development and economic growth through its solarisation initiative.

 

Abdullahi explained that under the solarisation initiative, all tertiary institutions, universities and primary healthcare centres across the country would be solarised.

 

He said the commission was already in talks with one of the largest solar panel production companies in the world to set up a solar panel factory in Nigeria to start production.

 

“The solarisation project is going to be across every state of the federation, not just Abuja alone, it is going to be done in all universities and tertiary institutions.

 

“This hasn’t been in the news because we don’t like speaking too much, we like being in action,” the DG said.

 

 

He particularly applauded Tinubu’s solarisation drive, adding that Nigeria was taking the right place in the global stage.

 

He also commended the presidency and the Voices of Renewed Hope for their visionary leadership and dedication to meaningful change across the country.

 

‘’It has been a very, very wonderful two years and I am very grateful being the DG and Chief Executive of the Energy Commission of Nigeria.

 

“There had been so many transformations, particularly in the energy sector that I am,” he said.

 

The DG called on Nigerians to continue supporting the Tinubu-led administration and the 2027 re-election bid of the president, saying one good turn deserves another.

 

He maintained that the administration had the roadmap to set Nigeria on a progressive pathway.

 

He said the commission had signed a Memorandum of Understanding (MoU) with China Energy Engineering Corporation Ltd (CEEC) and the Nigerian Governors’ Forum (NGF) to boost renewable energy infrastructure.

 

He said the agreement was a bold step aimed at addressing Nigeria’s long-standing energy challenges through strategic partnerships and innovation.

 

He explained that the MoU provided a framework for supporting state-level energy planning, expanding energy resource utilisation through solar, wind, and hydroelectric solutions, and developing green energy infrastructure.

 

Abdullahi said the partnership would also establish the Nigeria-China Renewable Energy Research Centre to foster technological innovation and human capacity development in renewable energy.

 

He added that the collaboration aligned with Tinubu’s Renewed Hope Agenda, which had already initiated transformative reforms in the power sector.

 

This, he added, included the constitutional amendment and the signing of the Nigerian Electricity Act 2023.

 

 

Mr Ade Omole, Chief host of the dinner and a former Director of the APC Diaspora Campaign Directorate, said that the event was about truth-telling and not mere praise singing.

 

Omole, also the  Convener of Renewed Hope Global said: “The Tinubu administration is not just counting years, but weighing its impact’’.

 

According to him, progress has not only emerged but endured under  Tinubu’s Renewed Hope administration.

 

Dr Aliyu Modibo, Special Adviser to President Tinubu on General Duties, who represented Vice President Kashim Shettima, lauded Tinubu’s unparalleled commitment to ensuring a Nigeria where all interests were protected.(NAN)

Edited by Ismail Abdulaziz

BRICS foreign ministers reaffirm commitment to strengthening security, economic, cultural cooperation

BRICS foreign ministers reaffirm commitment to strengthening security, economic, cultural cooperation

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Foreign ministers of the member states of the BRICS bloc have reaffirmed their commitment to strengthening cooperation in three areas: politics and security, economy and finance, and cultural and humanitarian exchanges.

A statement published on the official website of the Brazil’s BRICS Presidency, indicated that the ministers reaffirmed their commitment at a two-day BRICS Foreign Ministers’ Meeting held in Rio de Janeiro with the participation of the BRICS member states.

The meeting, the statement further indicated, was held in an expanded format with representatives of the BRICS partner countries in attendance.

The ministers emphasised the key role of BRICS as the voice of the Global South.

The group expressed support for the idea of reforming the United Nations, including increasing the representation of developing countries in the UN Security Council of the global body.

The ministers favoured greater use of national currencies in mutual settlements, as well as the development of their own payment platforms.

The group acknowledged the important role of the New Development Bank (NDB) as a key financing instrument for emerging economies, its further expansion, and the re-election of Dilma Rousseff as President of the NDB.

The Leaders acknowledged the role of Artificial Intelligence in inclusive development and expressed their intention to assist developing countries in this area.

They also welcomed the work on an agreement to manage the data economy.

The ministers condemned, in strong terms, all forms of terrorism and, in particular, the attack in India on April 22 that killed at least 26 people.

They affirmed that the countries of the association would deepen cooperation in the fight against terrorism.

The foreign ministers welcomed the activities of the BRICS specialised working group and called for the finalisation and adoption of the UN Comprehensive Convention on International Terrorism.

They spoke in favour of the peaceful use of space, reliable and secure ICT environment and free access to reliable information, stressing the importance of digital literacy and agreed rules in cyberspace.

In addition, the ministers spoke out against cybercrime, reaffirmed the need for reform of the global financial architecture and the importance of the role of the G20.

Given the recent enlargement, they emphasised the importance of institutional strengthening of BRICS, including through the creation of a common database to facilitate access to relevant documents and background information.

The Heads of the ministries supported Brazil’s BRICS chairmanship.

Russian Foreign Minister Sergey Lavrov had earlier held a news conference on the results of the BRICS Foreign Ministers’ Meeting.

He said that the parties agreed to continue working with partner countries in various formats.

In addition, the ministers emphasised the importance of strengthening the role of the world majority in solving key problems. (TV BRICS/NAN)

Edited by Emmanuel Yashim

Nigeria, India vow spike in economic, defence, other ties

Nigeria, India vow spike in economic, defence, other ties

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By Salisu Sani-Idris

Nigeria and India have reaffirmed their commitment to a robust strategic partnership.

The News Agency of Nigeria (NAN) reports that both countries also pledged to strengthen ties in key areas including economic development, defence, healthcare and food security, among others.

This is contained in a joint statement issued on Sunday in Abuja at the conclusion of the Indian Prime Minister Narendra Modi’s state visit to Nigeria at the invitation of President Bola Tinubu.

NAN reports that the Indian prime minister received a formal welcome, including a 21-artillery gun salute at the Presidential Villa.

Tinubu and Modi went into a tete-a-tete, and later jointly presided over an expanded bilateral and political talks.

During their bilateral discussion, the two leaders agreed to a greater collaboration in counterterrorism, maritime security, and intelligence sharing.

With growing threats in the Gulf of Guinea and the Indian Ocean, they also agreed to coordinated actions to safeguard maritime trade routes and combat piracy.

The two countries pledged to continue regular naval exercises and joint anti-piracy operations in the Gulf of Guinea to safeguard critical maritime routes.

‘” The leaders reiterated their unequivocal condemnation of terrorism in all its forms and manifestations including the cross-border movement of terrorists and terror financing networks and safe havens.

‘” They called for zero tolerance to terrorism and expeditious finalisation and adoption of the Comprehensive Convention on International terrorism in the UN Framework.

“They also called for the implementation of the UNGA and the UNSC resolutions on countering terrorism and violent extremism.

”It was agreed to enhance cooperation in the area of counter terrorism,” the joint statement said.

Modi reiterated India’s readiness to support Nigeria’s defence modernisation efforts, highlighting India’s emergence as a trusted defence manufacturer.

Similarly, the two leaders also highlighted the vibrant economic relationship between India and Nigeria, with India positioned as Nigeria’s largest trading partner and a significant contributor to its economy.

Nigeria commended the contributions of over 200 Indian companies operating in the country, which have generated substantial employment and investment opportunities.

On bilateral trade expansion, both leaders directed their officials to finalise pending agreements.

” These include the Economic Cooperation Agreement (ECA), Double Taxation Avoidance Agreement (DTAA), and the Bilateral Investment Treaty (BIT), to boost trade and investment.

” The fruitification of some of the investments” agreed to by the Indian companies during the visit of President Tinubu to India in September 2023, and committed to facilitating early finalization of the remaining investments.

On the sidelines of the G20 Leaders’ Summit held from September 9th-10th, 2023, in New Delhi, the Nigeria-India Presidential Roundtable and Business Conference had taken place.

During the conference, Indian investors pledged a combined total of over $14 billion across critical sectors of the Nigerian economy.

The investments were targeted on industrialisation, energy, telecommunications, and defence sectors

On infrastructure Development, the joint statement added that India reaffirmed its commitment to supporting Nigeria’s development priorities through concessional Lines of credit and technical expertise.

On energy, Nigeria and India agreed on long-term contracts for crude oil and LNG supply and technical support in pipeline transmission security, CNG conversion and LPG bottling distribution.

The two leaders also discussed broader collaboration on food security and agriculture, health, education, and cultural exchanges.

Also, on food security, the leaders agreed that it remains a priority for developing countries especially with bigger populations.

”Nigeria thanked India for providing the necessary concessions sought for in the supply of rice at the time of their need.

”They agreed to enhance collaboration in the area of agriculture from agricultural machinery, high yield seeds to sharing technical expertise, know-how and technologies and agreed to identify ways of cooperation in these areas.

”The Indian side thanked the Nigerian side for supporting the Indian Resolution at the UN to declare 2023 as the International Year of Millets.

” And agreed to increase collaboration between India and Nigeria in the area of Millets, ” the joint statement said.

On healthcare sector, Nigeria and India pledged to deepen their collaboration focusing on the establishment of hospitals and diagnostic centers, as well as the deployment of innovative health management systems.

Both sides acknowledged the ongoing efforts by Indian hospitals operating in Nigeria and highlighted the vast potential for further collaboration to enhance healthcare delivery across the country.

The Indian Government offered to share its CoWIN digital platform, an open-source health management infrastructure that has revolutionised vaccination campaigns and health data management in India.

It said, ” This system is expected to support Nigeria’s healthcare system by improving the efficiency and accessibility of vaccination programs and other health initiatives. ”

The Indian government also extended its commitment to supply high-quality generic pharmaceutical products to Nigeria at economical rates under the Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP) scheme.

The scheme is a campaign launched by India’s Department of Pharmaceuticals to provide quality medicines at affordable prices to the masses.

The statement said,” The initiative is aimed at making essential medicines more affordable, particularly for vulnerable populations, and supporting Nigerian public hospital procurement processes.”

Nigeria and India reaffirmed their commitment to strengthening collaboration on education, cultural exchanges, and fostering strong people-to-people contacts, building on longstanding historical ties and mutual aspirations.

India was acknowledged as a significant partner in Nigeria’s human resource development through various scholarship programs, including the eVBAB scheme, which facilitates virtual learning opportunities.

Both sides agreed to work together to encourage more Nigerian students to leverage these scholarship programmes.

Tinubu and Modi applauded the vibrant cultural and academic exchanges between the two nations, which have included visits by cultural troupes, participation in film and literary festivals, and other collaborative activities.

They underscored the importance of further widening these exchanges to promote mutual understanding and shared heritage.

The leaders recognised the role of tourism in enhancing people-to-people connections and emphasised the need to explore opportunities for promoting travel and cultural interaction between Nigeria and India.

On working together through its membership in international organisations, India commended Nigeria for its reciprocal support of non-permanent members of the UN Security Council for 2028-2029.

The two countries reiterated their joint commitment to UN Security Council reform and mutual support for permanent and non-permanent memberships.

They also pledged cooperation on regional peace and security, particularly in West Africa.

Nigeria ‘took note’ of India’s invitation to join the Global Biofuel Alliance and Global Rivers Cities Alliance.

It said, ”As members of International Solar Alliance (ISA), both sides agreed to intensify their cooperation in establishing solar parks and to work towards increasing the share of the renewable energy in their energy portfolio.” (NAN) (www.nannews.ng)

Edited by Bashir Rabe Mani

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