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FG Approves PPP for Badagry Deep Seaport, to Generate $53.6bn

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Nigeria’s Federal Executive Council (FEC) on Wednesday approved the development of the Badagry Deep Seaport on a built-own-operate transfer Public Private Partnership (PPP) arrangement.

The Minister of Transportation, Mu’azu Jaji Sambo disclosed this during an interview with journalists at the end of the FEC.

He explained that the private sector would inject money for the development of the port and at the end of the concessionary period, the port would revert to the federal government through the Nigerian Ports Authority (NPA), adding that the government was expecting to generate revenue of $53.6 billion over the 45 years concession period.

“The project cost as contained and approved in council based on the final business case as approved by the Infrastructure Concession Regulatory Commission (ICRC) in line with extant laws stood at $2.59 billion.

“It has to be developed in four phases with milestones and the concessional period of 45 years.

“Reversion is, like I said, to the Federal Government of Nigeria. This is to further the government’s goal of making Nigeria the maritime hub of the West and Central Africa sub-region.

“This project, it may interest you to know, will also generate a total revenue of over $53.6 billion over the concession period. It will create about one quarter million jobs and also attract foreign direct investments to the country and help in improving Nigeria’s economy in general and the wellbeing of Nigerians,” he said.

On the memo presented by her ministry at the council meeting, Ahmed said, “Today (Wednesday), the Federal Ministry of Finance, Budget and National Planning presented a policy memo to Council and the memo is on the National Monitoring and Evaluation policy for the country.

“The policy defines a framework for the institutionalisation of the practice of monitoring and evaluation (M&E) to promote good governance, learning and accountability for results that will contribute to improve socio-economic development of the country and enhance the wellbeing of citizens.”

Also, Minister of the Federal Capital Territory (FCT), Mohammed Bello, said Council approved the procurement of utility vehicles and accessories worth N2.68 billion for use by security agencies in Abuja as recent breaches of security continue to heighten anxiety in the federal capital, adding that the procurement include 60 Ford Ranger four-wheelers equipped with relevant gadgets, to be supplied by Coscharis motors, at a cost of N1.83 billion within two months.

The second part of the contract was for E&S Tech Limited to supply various gadgets and accessories to support security agencies in the FCT, at a cost of N847.13million.

The minister also said although the approval of the purchases was a regular gesture from government, it coincided with the aftermath of recent unprecedented security challenges in Abuja, including a major prison break and attack on presidential guards by terrorists.

“Today at the Federal Executive Council, I presented a memo for the procurement of utility vehicles, and security gadgets and associated accessories to support the security agencies operating within the Federal Capital Territory.

“These items are 60 utility vehicles to be supplied by Coscharis Motors Limited, including communication equipment installed in the vehicles at the sum of N1,835,108,613.95 with a delivery period of two months.

“In addition to that, Council also approved supply of various security gadgets and accessories to support security agencies in the FCT and the company providing these items is Messrs E&S Technical Limited at the total sum of N847,139,764.57, making the total of these two procurements the sum of N2,682,248,378.52.”

Answering questions on the concern raised by some civil society groups that the worsening insecurity in the country may affect the 2023 election, Minister of information and Culture, Alhaji Lai Mohammed, said nothing would stop next year’s general election.

His words: “There will be election I can assure you. The president has said he has given the security all the needed support. The Service Chiefs are doing their best and will continue to do their best.”

Mohammed also disclosed that the Secretary to Government of the Federation, Boss Mustapha, presented a memo to procure operational vehicles for the Independent Corrupt Practices and other related offences Commission (ICPC).

According to him, the ICPC made a request to procure 25 operational vehicles; 13 Toyota Hilux 2.7 litres and Peugeot 3008 SUV for a total sum of N810,534,380.72.

He explained that, “The need for the procurement is based on the fact that the ICPC has increased its activities and this has been occasioned by improved management, expansion of scope of operations, through establishment of more state offices across the country, increase in personnel, among others.

“As you know, the ICPC, today, has also taken over supervision of consistency in projects. The memo request was approved and is to Messrs. Kaura Motors Limited.”

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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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