NEWS AGENCY OF NIGERIA

Real estate expert urges investors to embrace land banking

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By Ikenna Osuoha

A real estate expert, Dr Rebecca Godwin-Isaac, has urged investors to embrace land banking, a practice of purchasing undeveloped land with the expectation that it will increase in value over time.

Godwin-Isaac, the Chief Executive Officer of Homadil Realty Ltd, a landholdings firm, gave the advice in an interview with the News Agency of Nigeria (NAN) in Abuja.

According to her, land banking is profitable, a secret to making much money in the property business and a one pathway to success and financial abundance.

“Many successful real estate men and women made their money by investing heavily in land banking.

“You know envious people now tell different stories about us, but when we were taking risks of land banking, they were nowhere,” she said.

The Homadil CEO reiterated the benefits of land banking, which she said is futuristic.

Godwin-Isaac emphasized the need for wealth creation for all to move the country forward.

She said she took risks by buying land near major transportation hubs and in the suburbs of cities never believed to be developed or valuable

She revealed that Land Banking is the secret of her success irrespective of malignant attempts at defaming and blackmailing her (NAN)

Edited by Emmanuel Yashim

Gov’s wife calls for investment in agric to contain hunger

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By Rita Iliya

Hajiya Fatima Bago, wife of Niger governor, has called for massive investment in agriculture to contain the Cadre Harmonisé report, which warned that over 33 million Nigerians may face hunger in 2025.

 

She said this, shortly after being decorated as the, “Smart Mother” of the state, at the 10th Edition of the Nutritious Food Fair in Minna in Wednesday.

 

The News Agency of Nigeria (NAN) reports that the fair was organised by Niger Ministry of Agriculture in collaboration with HarvestPlus.

 

The theme of the fair is, “Sustainable Food Systems: Our Collective Responsibility.

 

She described the report as a call to action, adding that Niger, under the leadership of her husband, Gov. Umar Bago, had adopted a massive investment in agriculture to ensure food security.

 

She highlighted the state government’s efforts to promote food security, including empowering women farmers, promoting the integration of small livestock into household farming.

 

She said that the state government had also prioritised the training of female agricultural extension officers and community health workers.

 

She called on stakeholders to join forces in building a system where every family had access to nutritious food.

 

According to her, every woman has the opportunity to thrive, and every child has the chance to grow up healthy and strong.

 

She emphasised the importance of empowering women farmers, providing them with access to biofortified crops, and promoting the integration of small livestock into household farming.

 

Bago, who lauded the organisers of the fair, stressed the need to prioritise the training of female agricultural extension officers and community health workers.

 

In his remarks, Dr Yusuf Fu’ad, Country Manager of HarvestPlus Nigeria, explained that the “Smart Mother” initiative aimed to empower women to make informed decisions about nutritious meals for their families.

 

“The ‘Smart Mother’ initiative is designed to promote the ability of women to make the right decisions and choices when preparing meals for their families,” he said.

 

He commended the governor’s wife for her commitment to promoting nutrition education and healthy eating habits among women in the state.

 

He expressed optimism that the “Smart Mother” initiative would contribute significantly to improving nutrition outcomes in Niger State and beyond.(NAN)

Edited by Joe Idika

Mini grid dev’t catalyst for Nigeria’s energy solution – Experts

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Mini grid dev’t catalyst for Nigeria’s energy solution – Experts

By Mohammed Bababusu

Some experts in Kogi, Niger and Nasarawa have advocated increased investment to fast track development of the Independent Mini Power Grid, to boost electricity supply in the country.

They said the measure was necessary to check the incessant collapse of the national grid and its negative impact on the nation’s economy.

Mr Joseph Adedayo, an energy expert in Lokoja, Kogi, said that the establishment of independent mini power grids would greatly minimise power failure in the country.

He noted that if the 36 states and the Federal Capital Territory (FCT), Abuja, would build theirs mini power grids, the problem of power would be solved.

Adebayo blamed the current power challenges on weak regulations and lack of clear policies, hindering the development of state-owned power plants.

According to him, inadequate generation capacity slows down growth and expansion in the sector, thereby making it difficult for states to establish independent power plants.

He said that financial constraints also served as one of the major challenges hindering the state governments to venture into power generation.

The expert said that the establishment and maintenance of a power plant required substantial investment, which could be daunting for states with limited financial resources.

“The rising insecurity and frequent vandalism of power infrastructure pose significant risks to investing in independent power plants.

“These challenges highlight the complexity of Nigeria’s power sector and the need for comprehensive reforms to enable states to develop their own power plants efficiently,” he said.

While urging governments at all levels to secure power infrastructure to prevent vandalism and sabotage, Adebayo advised them to make a concerted effort to invest in mini-grids that could serve specific communities or local governments.

Mrs Joy Agu, a hair stylist, appealed to the Federal Government to do its best to address the incessant collapse of National grid, saying they could no longer cope with exorbitant cost of petrol to run their businesses.

“All my equipment are using electricity, and there is no way we can survive in this hair dressing profession without regular power supply, because we can’t cope with the fuel price.

“We are appealing to the government to fulfill its promise of ensuring stable electricity supply in the country,” Agu said.

Also, Hamza Aliyu, the Executive Director, Initiative for Grassroot Advancement in Nigeria (INGRA), emphasised the need to build capacity of states’ legislatures to understand the dynamics of the sector to be able to develop and pass regulatory laws that address specific needs of their respective states.

Aliyu also advised the legislators to enact laws that could also protect the rights of consumers.

“Since 1960, the right to legislate on issues concerning generation, transmission and distribution of electricity has always been the prerogative of the federal government.

“The amendment that enabled states to also participate, means that the one critical challenge of weak capacity, knowledge and expertise will have to be built for them to effectively participate.

“The energy subsector is capital intensive. The present resource management structure in Nigeria will make it challenging for states to get partners in the private sector to participate in the generation, transmission and distribution of electricity, ” he said.

He added that the human resources needed for coordination and implementation of the regulatory frameworks must be developed locally to ensure sustainabiplity.

Aliyu advised educational institutions and governments at State levels to work together to develop those capacities and produce the needed graduates from the State universities, colleges among others.

Mr Peter Onujeme, Director, Pee-links Electronic World Limited, streseed the need for the review power generation and distribution system to an independent national grid.

Onujeme said the National Grid system of distributing power was no longer workable, adding that, “to me, the government should, as a matter of urgency, unbundle the national grid system if it really wants to tackle the country’s power challenges.

“I suggest that independent power grids should be built in every region, and going forward build in every state of the federation.

“With this, the nation will stop depending on very few power plants that are generating inadequate megawatts to feed its huge population.

“A template is the Geometrics Power plant in Aba (built by a private investor), which is serving Aba and it’s environs.

“If this is replicated in all economic hubs in the country – Onitsha, Nnewi, Lagos, Port Harcourt, Kano and Kaduna, it will take the strain off the country’s power infrastructure.

The director said going forward, the construction of those mini plants would cascade down to every state of the federation and the perennial and embarrassing power problem would be permanently solved.

He blamed the current challenges on legislators, who had stopped states from having their independent power plants, until the Buhari lead administration changed the narrative and liberalised the power sector, allowing states to build their private power generating plants.

“As a result, Lagos has built one in the Ikeja hub, while geometrics came up in Aba. We are expecting more in most of the states,” Onujeme said.

According to him, corruption, lack of funds, vision and the political will are the major barriers preventing states from embarking on independent power projects.

Importantly, the Niger state government has announced plans to build its own power plant, following the signing of the new electricity act into law by President Bola Tinubu in 2023.

The legislation empowered states to generate, distribute, and transmit electricity, positioning them as key players in the electricity

Yakubu Katamba, Director-General, Niger State Electricity Board, said the state was poised to take advantage of the opportunity, adding that the state legislature must enact a law to regulate the market in terms of distribution and transmission of electricity.

Katamba revealed that a new agency, the Niger State Regulatory Agency, would be responsible for overseeing the process.

He said the proposed law had been sent the state assembly and expected to be passed before the end of the year.

Katamba identified the absence of a regulatory law as a significant challenge towards establishing a state-owned power plant.

Katamba said the state government had launched the Bago Electrifying Niger State Agenda to tackle the challenges of electricity supply in the state

This, he said, focused on repairing bad transformers to reduce power failures, upgrading obsolete breakers in Minna, Kontagora and Bida, and establishing relief stations to reduce load on overloaded substations
He said that by addressing these challenges and leveraging the new electricity act, Niger state aimed to become a key player in the electricity sector and ensure a stable power supply for its residents.

Mr Danladi Jatau, the Speaker, Nasarawa State House of Assembly, said the legislature would do its best to ensure that the state government got the needed legislative backing to generate, transmit and distribute sufficient power supply to the people of the state.

He said that, if the state generate its own electricity, it would tackle the lingering issue of poor electricity supply in the state.
“This will create jobs, boost socioeconomic activities and increase the revenue base of the state,” the speaker said. (NAN)(www.nannews.ng)

Edited by Mohammed Baba Busu/ Isaac Ukpoju

Soludo to expedite C of O for Anambra investors

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By Obinna Unaeze

Gov. Chukwuma Soludo of Anambra says his administration will expedite action in processing Certificate of Occupancy for would be investors who fulfilled the condition of doing business in the state.

Soludo made the statement on Thursday in Awka, at the inauguration of the Anambra 2024 Industrial Summit.

“If you are serious in doing business in Anambra, issuing Certificate of Occupancy will take us a matter of some days.

“I want to emphasise that Anambra is very much ready for our investors,” he said.

He assured would be investors that soon government would end security challenges in the state.

“I can tell you that on security issue, in the next few weeks and months you will feel the positive impact of what we are doing.

“Anambra will become one of the safest place to be; we are not joking about it but serious to tackle it headlong,” he said.

The governor, who noted that businesses thrive in conducive environment, said that government was working toward finding a permanent solution to epileptic power supply in the state.

“We are committed to 24 hours electricity supply in Anambra. We are ready for the industrialisation of the state,” he said.

In a message to the summit, President Bola Tinubu promised to support the development of the Anambra Industrial City by expediting actions on Federal Government’s approvals relating to development of the industrial hub.

“My government will support these initiatives of attracting investors to Anambra and development of the industrial city.

“We will expedite actions on approvals to ensure the success of Anambra industrial city,” President, represented by Dr Emeka Obi, Permanent Secretary, Federal Ministry of Budget and Economic Planning, said.

He said that the measure was in line with the national pursuit on transformative and inclusive economic development of the nation.

Tinubu described the state as `a strategic hub’ for investments and centre for innovations in Nigeria.

According to him, Anambra stands out as a shining example of what is achievable when the nation’s strategic action plans are put in place.

“Let me commend Gov. Soludo for embarking on projects that will develop Anambra and attract investors to the state,’’ he said.

He urged the people to support Soludo’s transformation agenda to develop the state.

Similarly, Abubakar Momoh, Minister of Regional Development, urged Soludo to tackle security challenges in the state to attract investors to the state.

“You have to create the enabling environment by tackling insecurity in Anambra,” he said.

Momoh said that his ministry would articulate the contributions of the various industrialists and would be investors to create a conducive environment for businesses to thrive in the state and the country at large. (NAN) (www.nannews.ng)


Edited by Ifeyinwa Okonkwo/Maureen Atuonwu

 

Macron departs Morocco with landmark €1.5bn investment deals

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By Usman Aliyu

French President Emmanuel Macron on Wednesday departed Morocco after signing several bilateral deals worth over 1.5 billion Euros investments.

 

The News Agency of Nigeria (NAN) reports that Macron arrived in Morocco’s capital city, Rabat on Monday for a 3-day visit, following an invitation by the King of the African Arab country, Muhammed VI.

 

The French president, during the state visit, reiterated the support of Paris for Morocco sovereignty on Western Sahara, alongside other speeches made to deepen the relations between the two countries.

 

Under the supervision of the president, France signed 22 new agreements with her erstwhile colony, which cut across critical sectors such as transportation, education, energy, culture, water, security, agriculture and climate action.

 

One of the agreements was to provide support for the OCP Group’s decarbonisation strategy in Morocco with investments worth 300 million Euros through the development of agricultural and food value chains in Africa.

 

The News Agency of Nigeria (NAN) reports that another deal is in the creation of a Morocco-France investment accelerator worth approximately 3 billion Moroccan dirhams, equivalent to 232 million Euros.

 

The deal also provided an equal partnership to stimulate investment throughout Morocco including the disputed southern provinces.

 

It also contained the creation of a 50/50 joint venture dedicated to sustainable infrastructure, with a capital of 300 million Euros.

 

The signings include an agreement between the CMA CGM Group, the world’s third-largest shipping company, and the Morocco’s TANGER MED, aimed at developing a container terminal in Nador West Med as part of the concession obtained by MARSA MAROC.

 

The deal provided for a commitment of significant volumes of 1.2 million containers to launch the Nador West Med platform and an investment of approximately 258 million Euros.

 

Also signed was an MoU between Moroccan Government and the SAFRAN company which is to build a maintenance and repairing site for aircraft engines.

 

Under this agreement, the company planned to carry out an investment project consisting of the construction and equipping of the maintenance and repair workshop of LEAP aircraft engines, with an investment worth nearly 130 million Euros.

 

Another declaration was between the French Development Agency (AFD) and Morocco’s National Ports Agency.

 

Through the declaration, the parties agree to devise a new support programme for the ports agency around four main points with the AFD providing 100 million Euros loan.

 

There was also an agreement on the National Water Strategy, structured around budgetary support for Morocco, aimed at strengthening the integrated management of water resources.

 

Under this understanding, the AFD would take the necessary steps to mobilise 100 million Euros for this programme.

 

Other agreements include the supply of high-speed train sets and their supporting elements as well as a declaration of intent on financial cooperation in the railway sector among several others.(NAN) (www.nannews.ng)

Edited by Ismail Abdulaziz

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