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Nigerian Government Seeks Strategic Investment to Aid Economic Sectors Recovery

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The federal government of Nigeria has recently stated its preparedness to partner with potential investment partners in critical sectors of the nation’s economy to expedite recovery.

Some of the areas, the government said includes; domestication of production of key commodities through Backward Integration Programs, driving the growth of Micro, Small and Medium Enterprises (MSMEs), especially through access to finance and markets; and cultivating investments particularly through improving the ease of doing business in the country.

Disclosing this in Lagos at JCI Africa and Middle East Senate Association (AMESA) Conference, themed; “building emerging leaders for Africa and the Middle East,” the Minister of Industry, Trade and Investment, Adeniyi Adebayo, said the country remains the best investment destination in Africa.

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Speaking on the topic, “Opportunities and potentials of trade and investments in Nigeria,” Adebayo, noted that the country’s overall policy thrusts are built around three thematic areas of focus.

He said, “With the nation’s BIP, the ministry has intensified efforts to increase local production, increase job opportunities and provide foreign exchange through the domestication of identified priority products namely Automobiles, Palm Oil, Dairy, Sugar, Cassava Starch and Cotton, Textiles and Garments.

“For Automobiles, our focus is on boosting activities around the local assembly of vehicles and auto component manufacturing by providing fiscal incentives, stimulating demand through targeted government patronage and establishment of consumer credit schemes and to improve economies of scale.”

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“For Sugar, through the provision of fiscal incentives, import quota allocations, physical infrastructure for irrigation and foreign exchange to operators, we are driving the production of Sugar. For Oil Palm, we are intensifying efforts to facilitate investments across the value chain to increase the local production of Crude Palm Oil (CPO) and its derivatives.

“For Cassava Starch, we are focused on bringing in large-scale investors to increase the production of cassava starch. For Cotton, Textiles and Garments, our strategy here is to improve the cost competitiveness of textile production and leverage Special Economic Zones (SEZs) for garment production for export, ”he added.

Explaining the reason for the birth of the policy drive, the Minister stated the key areas are targeted at meeting

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Adebayo further said that the development of Micro Small and Medium Enterprises (MSMEs) and addressing the challenges of poor packaging, labelling and quantity of manufactured goods by MSMEs would mitigate the rejection of made in Nigeria products and ensure sustainability in the global market.

The Minister also listed other areas the government is working to make Nigeria investment friendly, including the National Action Committee on the AfCFTA, enactment of the CAMA Act, Special Agro-processing Zones (SAPZs).

“I would like to reiterate that potential investors should make use of all the investment resources and guides provided by the Nigerian Investment Promotion Council (NIPC), such as the Book of States which consist of the competitive advantages and the key investment opportunities in each of Nigeria’s 36 States and the Federal Capital Territory (FCT) and the “iGuide Nigeria”, an online investment guide to help investors make better-informed decisions about investing in Nigeria.

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“I would like to conclude this address by saying that we are open to strategic collaboration with potential investment partners in all the areas I have touched on in this speech,” he added.

On his part, the Governor of Lagos State, Babajide Sanwo-Olu who was represented by the Commissioner for Agriculture, Abisola Olusanya stressed the need for governments to focus investment on the youths as they remain the force for the future of the nation’s economic recovery.

“Going by the theme of this conference “Building Emerging Leaders for Africa and the Middle East”, it has become evident that both the African continent and the Middle East region need now more than ever, to invest in as well as build the capacity of young adults and youths to meet up with the challenges of the 21st century as well as future demands.

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“Investing in the youths and their leadership potentials as well as helping the younger generation build their leadership capacity from now will help lay a structure and solid foundation upon which our development in Africa and the Middle East will thrive,” he said.

 

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Headlines

NNPC Foundation Trains Over 3,000 Southwest Farmers in Climate-Smart Agriculture

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In a bid to promote food security and sustainable agricultural practices, the NNPC Foundation has successfully trained more than 3,000 farmers in the South-West geopolitical zone on climate-smart and modern farming techniques.

The training, which concluded on Friday in Ikorodu, Lagos, marked the end of the Southwest phase of the foundation’s pilot programme aimed at empowering local farmers and boosting agro-productivity.

Speaking at the closing ceremony, Managing Director of the NNPC Foundation, Mrs. Emmanuella Arukwe, described the initiative as a milestone in the lives of thousands of farmers.

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“Today marks the formal conclusion of the first phase of a national journey that speaks to resilience, food security, and economic empowerment,” Arukwe said.
“What began as a bold decision to support small holder farmers has translated into tangible action across three geopolitical zones (South-East, South-South, and South-West) in Southern Nigeria.”

She disclosed that a total of 3,860 vulnerable farmers across 10 locations in the three regions were trained in sustainable farming practices that improve productivity and market access.

“This achievement is not just a number, but a milestone in the lives of real people and real communities. We were able to strengthen farmers’ capacity to adapt to climate change,” she added.
“Through the training, we were able to improve access to markets, promote inclusive agriculture and especially gender representation. We also trained them on enhancing food production through sustainable techniques.”

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Arukwe noted that the programme would now move to the North-West, North-Central, and North-East zones as part of its next phase, saying the foundation is committed to supporting livelihoods nationwide.

“This is only Phase One. We will now turn our focus to the North-West, North-Central, and North-East zones. What we have achieved in the South will inform and strengthen our next steps,” she said.
“The NNPC Foundation will continue this mission, to support livelihoods, build resilience, and empower the hands that feed our families and beyond.
We have decided that most times you get a lot of requests from people asking us to give them palliatives and all kinds of things to help them.
But we think it is much better to teach people to fish than just give them fish so they can continue,” Arukwe explained.

Chairman of Ikorodu Local Government, Mr. Wasiu Adesina, while commending the initiative, urged the beneficiaries to apply the knowledge gained to boost productivity and profitability.

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“As we all know, agriculture is the bedrock of any nation. Without agriculture, there will not be a nation, because there will be no food to eat,” Adesina stated.
“It is the farmers that produce our food, and it is important that we train our farmers with new techniques in agriculture, and that is exactly what the NNPC Foundation is doing.

“To the farmers, you have to take advantage of this training and face the farming squarely. In some great countries like the United States and the United Kingdom, farmers are the most richest people in those countries.

“This is because they make a lot of money from farming. We need to inculcate that habit in Nigeria and develop ideas in farming. Even after my tenure, I am going back to farming, so, maybe I will ask the NNPC Foundation to train me so that I also join you to be a farmer.”

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He appealed to the foundation to provide further empowerment for the trained farmers to help them kickstart their agricultural ventures.

“If the farmers have land for farming, I believe the foundation will provide financial aid to keep their farms running,” Adesina added.

Also speaking at the event, the Lagos State Commissioner for Agriculture and Food Systems, Ms. Abisola Olusanya, represented by the Director of Fisheries, Mrs. Osunkoya Daisi, lauded the Foundation’s efforts in bolstering the state’s food security.

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“On behalf of the Lagos State Government, we would like to express our sincere appreciation to NNPC Foundation for training our farmers and for training all the farmers all over the country,” she said.
“Definitely, the training will help improve food production. We can see the impact of climate change effects in agriculture. I am sure farmers have been equipped with climate-smart agriculture techniques to improve production.”

The NNPC Foundation Ltd/Gte is the Corporate Social Responsibility (CSR) arm of the Nigerian National Petroleum Company (NNPC) Limited. It was incorporated in February 2023 to manage the company’s CSR initiatives and enhance Nigeria’s socio-economic development.

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Education

NUC grants ESUT full accreditation for Law, 7 other programmes

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The National Universities Commission, (NUC), has given full accreditation to the Enugu State University of Science and Technology (ESUT), for her Law programme.

According to the Public Relations Officer of ESUT, Mr Ikechukwu Ani, this is contained in a letter addressed to the institution’s Vice Chancellor, Prof. Aloysius Okolie, on Wednesday in Enugu by the NUC.

Ani said that in the letter, the Executive Secretary of NUC, Prof. Abdullahi Ribadu said the report was contained in the result of the October/November 2024 accreditation of academic programmes in Nigerian universities.

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Ani disclosed that other programmes in the institution accredited by the NUC include Master of Science in Business Management; Education Computer Science; Education Physics and Agricultural Engineering.

Other accredited programmes he said were Quantity Surveying; Urban and Regional Planning; and Applied Microbiology.

He said that the letter quoted Section 10 (1) of the Education National Minimum Standard and Establishment of Institutions, Act CAP E3, Laws of the Federation of Nigeria 2004 as empowering the NUC to lay down minimum academic standards for all academic programmes taught in Nigerian universities.

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He said the session also empowers the NUC to accredit such programmes.

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Crime

Court remands 2 over alleged attempted murder

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Court discharges man accused of burning father’s house in Abuja

An Ikeja Magistrates’ Court, Lagos, on Wednesday, remanded two persons, Olaitan Fasasi and Kehinde Tobiloba in a correctional facility over alleged attempted murder.

Fasasi, 40, and Tobiloba, 26, whose addresses were not provided, are being charged with conspiracy, attempted murder and membership of a secret society.

The Magistrate, Mr L.A Owolabi, did not take the plea of the defendants for want of jurisdiction.

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Owolabi directed the police to forward the case file to the Director of Public Prosecution for legal advice.

He thereafter adjourned the case until May 31 for mention.

The Prosecutor, Josephine Ikhayere, told the court that the defendants committed the offences at about 5.02p.m on Feb. 15, at Mushin, Lagos.

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She said that Fasasi, Tobiloba and others now at large, attempted to commit murder by shooting at a resident, Alfred Ademola.

“They armed themselves with a locally made gun. They belong to Eiye Confraternity, a group proscribed by law,”, she said.

Ikhayere said that the offences contravened Sections 230(1) and 411 of the Criminal Law of Lagos State, 2012.

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He said that the actions of the defendants also contravened Section 2(3)(a)(b)(c)(d) of the unlawful societies and Cultism Law of Lagos State Law.

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