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FEC approves $4.7bn Ondo, Snake Island, Burutu ports development

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FEC approves $4.7bn Ondo, Snake Island, Burutu ports development

FEC approves $4.7bn Ondo, Snake Island, Burutu ports development

The Federal Executive Council (FEC) has approved port development projects worth $4,713,841,477 in Delta, Ondo and Lagos States.

The approval was given during the weekly FEC meeting presided over by President Muhammadu Buhari on Wednesday at the Presidential Villa, Abuja.

Minister of State for Transportation, Prince Ademola Adegoroye, told State House correspondents that the council gave the authorisation for the development of Ondo Multi-Purpose Port in Ilaje, Snake Island in Lagos State and Burutu in Delta.

According to him, the projects which are to be executed through Public-Private Partnership (PPP) arrangements at no cost to the Federal Government, will be financed by private firms and to be operated for 45 and 50 years.

He said the Ondo port would cost the private developers the sum of $1,480,465,253 and would be concessioned for a period of 50 years.

The accruals to the concessionaire and the Federal Government are expected to be $50 billion and $ 2.6 billion, respectively.

Read Also: FEC approves N24.2bn for free internet at airports, varsities

“The Burutu port will cost $1,285,005,818; concessioned for 40 years, with the concessionaire and the Federal Government expected to reap $125 billion and $9 billion, respectively.

“The Snake Island Port will gulp $974,185,203 and be concessioned for 45 years with the concessionaire and the Federal Government receiving $18 billion and $5.23 billion, respectively in accruals within the period,” he said.

Also addressing the correspondents on the outcome of the meeting, the Minister of State, Power, Mr Jerry Agba, said that the council approved N140million as argumentation for the procurement of 33 KV circuit breakers and 120 numbers of surge arrestors for systems used for Transition Company of Nigeria.

He said, “You know, we are bent on providing improved services of electricity to Nigerians.

“TCN is the main body that has to do the transmission. You know generation and distribution are in private hands now so government is only responsible for transmission.

“So, most of the equipment have become obsolete over the years which is why you have break in transmissions, low power supplies and outages here and there.

“With these refurbishments and new procurements, we should be able to improve services and see power supply get better by the day.”

Agba further disclosed that the council approved N1.5billion as augmentation for the construction of the Dukanbo Shonga 132 KV double circuit transmission line in Kwara as the line had been down for several years.

“So, with this procurement, we should be able to revamp the station and you know it is an agro-based area, that’s the area which services the Bacita farm.

“The Shonga Farms Limited and the whole of that area had been in darkness for a long time.

“With this procurement, we hope that in two months, we should have full power supply to those areas and restore farming and processing activities in that area. The cost is N1.5 billion,” he stated.

Agba also assured that the epileptic power supply witnessed in recent times in different parts of the country would soon be a thing of the past.

FEC approves $4.7bn Ondo, Snake Island, Burutu ports development
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China Introduces Instant Tax Refunds for Foreign Tourists to Boost Shopping Experience

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China Introduces Instant Tax Refunds for Foreign Tourists to Boost Shopping Experience

China has revamped its tax refund policy for foreign tourists, shifting from a refund-upon-departure model to a more convenient refund-upon-purchase system, according to the State Taxation Administration (STA).

The STA announced on Tuesday that under the new system, foreign visitors can now claim Value Added Tax (VAT) rebates instantly at designated tax-free stores. This change allows tourists to use their refunded amount immediately for additional shopping, enhancing their overall experience in China.

Previously, VAT rebates could only be withdrawn upon departure, but with the new policy, tourists will be able to access their refunds in real-time during their stay. The policy, which was initially tested in cities like Shanghai, Beijing, and Guangdong, has now passed all operational requirements and will be rolled out nationwide.

The STA emphasized its dedication to improving policy guidance and simplifying refund procedures to better serve international visitors.

Li Xuhong, Vice-President and Professor at the Beijing National Accounting Institute, welcomed the change, stating that the nationwide implementation would raise China’s tourism service standards. “It will foster a friendly, efficient, and convenient tourism environment,” Xuhong added.

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Nigeria Reaffirms Commitment to One-China Policy Amid Taiwan’s Trade Office Claims

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Nigeria Reaffirms Commitment to One-China Policy Amid Taiwan's Trade Office Claims

Rep. Jaafaru Yakubu, Chairman of the House of Representatives Committee on China-Nigeria Parliamentary Relations, has reiterated Nigeria’s firm commitment to the One-China Policy, following recent comments by Taiwan’s Trade Mission Head in Nigeria, Andy Yih-Ping Liu.

Speaking in Abuja on Tuesday, Yakubu firmly declared that Nigeria continues to recognize Taiwan as an integral part of the People’s Republic of China. He rejected Liu’s claim that Taiwan was not part of China, labelling it as “propaganda” aimed at undermining the strong diplomatic ties between Nigeria and China.

“For the record, United Nations General Assembly Resolution 2758, adopted in 1971, recognised the People’s Republic of China as the sole legitimate representative of all of China, including Taiwan,” Yakubu stated. “The One-China Policy remains the cornerstone of China-Nigeria relations.”

He emphasized that since Nigeria and China established diplomatic ties in 1971, the country has consistently upheld this principle. “Efforts by Taiwan’s trade office to challenge this stance are futile and will not succeed,” Yakubu added.

Yakubu criticized Liu’s comments as an attempt to draw Nigeria into China’s internal matters, accusing the Taiwanese official of deliberately sowing discord and provoking a diplomatic rift. “Nigeria’s relationship with China is built on mutual respect and non-interference in each other’s political matters,” he said.

In response to Liu’s claim that China acted as a bully, Yakubu pointed to the positive trajectory of Nigeria-China relations. “Contrary to these baseless assertions, Nigeria has enjoyed a mutually beneficial partnership with China, yielding tangible results for both nations. Since 1971, our ties have grown significantly.”

He highlighted the strategic nature of the partnership, referencing the elevation of the relationship to a Comprehensive Strategic Partnership during the 2024 FOCAC Summit in Beijing. “Today, Nigeria stands as China’s second-largest trading partner in Africa, with bilateral trade surpassing 20 billion dollars,” Yakubu noted.

Furthermore, Yakubu praised China’s role in Nigeria’s infrastructural development, with investments in sectors such as rail networks, roads, ports, power stations, and water treatment facilities.

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Shettima Warns Media Against Romanticising National Challenges

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Shettima Warns Media Against Romanticising National Challenges

Vice President Kashim Shettima has cautioned Nigerian media practitioners against the growing tendency to romanticise serious national issues, describing the trend as a dangerous departure from the media’s constitutional duty of promoting truth and accountability.

Represented by his Special Adviser on Special Duties, Modibbo Umar, the Vice President issued the warning on Tuesday while delivering a speech at the 17th LEADERSHIP Conference and Awards held at the Old Banquet Hall of the State House, Abuja.

“We must resist the temptation to romanticise serious national issues or frame them in ways that distort public understanding,” Shettima said. “Doing so only weakens the fabric of our democracy and derails our collective efforts at nation-building.”

The Vice President’s remarks came as stakeholders in governance, business, and civil society gathered to reflect on the theme of the event, “Challenges and Opportunities in Nigeria’s Fiscal Federalism.” The conference provided a platform for thoughtful engagement on some of the country’s most pressing issues, with a focus on the responsibilities of leadership at all levels.

Shettima also used the occasion to commend LEADERSHIP Newspapers Group for its consistent contributions to national discourse and its commitment to celebrating excellence in leadership.

“I commend LEADERSHIP Newspaper for the vision to convene this vital discourse and for shining the light on those who have chosen to lead with courage and competence. May we never tire of striving for a better Nigeria,” he said.

The annual LEADERSHIP Conference and Awards continues to be a major event that brings together influential voices to deliberate on national progress and honour individuals and institutions making meaningful impact in society.

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