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FG Launches Nigeria Economic Diplomacy Initiative in Ghana to Accelerate Development

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The Nigerian High Commissioner to Ghana, Ambassador Olufemi Michael Abikoye, has introduced the economic initiative of the Ministry of Foreign Affairs, the ‘Nigeria Economic Diplomacy Initiative’ (NEDI) to the business community in Ghana.
NEDI aimed at creating an enabling environment for businesses as well as to attract Foreign Direct Investment (FDI) to Nigeria.
Amb Abikoye introduced the initiative at a conference held on 10th May, 2018, in Accra, christened ‘GHANGERIA RISING 2018’ under the theme ‘Harnessing the Business Opportunities in Ghana and Nigeria to Accelerate Inclusive Economic Growth and Development’.
The first edition of what will be an annual conference, alternating between Ghana and Nigeria, promises to be a platform for continuous conversation by Ghanaian and Nigerian business persons on business opportunities, practices and challenges in both countries.
The one-day conference was declared opened by the Vice President of the Republic of Ghana, Dr Mahamudu Bawumia and had in attendance the Minister of Foreign Affairs and Regional Integration of Ghana, Honourable Shirley Botchwey and His Excellency, Ambassador Olufemi Michael Abikoye, the High Commissioner (HC) of the Federal Republic of Nigeria to the Republic of Ghana all of who delivered special addresses.
The conference focussed on four key sectors of importance to Nigeria and Ghana; Agrobusiness, Banking and Finance, Oil and Gas, Information and Communication Technology (ICT). Over one hundred policy makers, regulators, experts, entrepreneurs, facilitators and practitioners in the aforementioned sectors were present to lead the conversation.
Abikoye reminded attendees that the two countries, from 18th — 20th October, 2018, held the 7th Permanent Joint Commission for Cooperation (PJCC) in Accra, Ghana where bilateral instruments discussed and agreed upon include trade and double taxation agreements, capable of supporting the paradigm shift in the emerging trade and economic initiative between the two countries.
According to him, for business persons to operate unhindered, certain measures must be taken by both countries to break the barriers. Some of the conclusions made identified areas of business where each country enjoys competitive advantage including:
a) Nigeria’s advantage in agrobusiness wherein rice, yam, millet and sorghum among others;
b) Nigeria’s expertise in on-shore oil exploration and ancillaries which Ghana could attract rather than contracting non-Africans;
c) Removal of barriers by each country: Nigeria should consider a bilateral concession to Ghana concerning her prohibition list; On the other hand, Ghana should remove section 27(1a) of the GIPC Act 865 of 2013 restricting foreign traders, mainly Nigerians from the retail sector of the country.
For Nigeria, there are economic, political, and socio-economic benefits including:
a) Preserving the increasing Foreign Direct Investment (FDI) of over $100b outflow from Nigeria into Ghana;
b) Sustaining an increasing the exploits of Nigerian businesses in Ghana including eight banks, two insurance companies, Dangote Group, real estate, transportation, retail trade, oil and gas and hospitality;
c) The economic power would enhance Nigeria’s political power within the ECOWAS region;
d) Creation of employment for Nigeria’s teeming youth;
e) Provision of market expansion; and
f) Ensure common position on multilateral issues.
Also, it is noteworthy that Ghana has in various fora expressed her desire to enter the Nigerian market in order achieve a market size of about 230 million consumers.
Courtesy: Prompt Newsonline

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Ex-Oyo Governor, Victor Olunloyo, Dies at 90

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A former governor of Oyo State, Dr. Victor Olunloyo, is dead.

According to a statement by his family on Sunday, he died a few days before his 90th birthday.

The statement titled ‘Victor Olunloyo goes home’ was signed by Oladapo Ogunwusi on behalf of the family.

It read, “With a heavy heart but gratitude to the Almighty, we announce the passing into glory of Dr. Victor Omololu Olunloyo, former governor of Oyo State, mathematician and engineer and renowned technocrat, a few days before his 90th birthday.

“The Balogun of Oyo and Otun Bobasewa of Ife, Dr. Olunloyo was first Rector, Ibadan polytechnic and first Rector, Kwara State Polytechnic among other notable appointments.

“His long record of service to the nation and humanity is a source of pride to his family and associates even as we come to grip with this devastating event.

“The Olunloyo family will appreciate the understanding of the press and the public as they commence efforts to give him a befitting burial.

“Even from everlasting to everlasting, He is God.”

About a year ago in April 2024, the rumour of the death of the elder statesman was reported by some news platforms.

But speaking with The PUNCH correspondent who visited his Molete residence in Ibadan, the state capital, he debunked the rumour, saying he was hale and hearty.

“I’m still here, not yet gone,” he declared then.

He also expressed worry over the rumour and asked who would live forever, stressing, “Those breaking death news and the person presumed dead will all die one day.

“I’ve been lucky. My father died at 42, while my mother died at 102. I’m 89. I’ve crossed the expected life age.”

The elder statesman also illustrated how the rumour of his death hit several news platforms on June 7, 2022.

He noted that the rumour mongers claimed that he died at the University College Hospital, Ibadan.

A few days later, the family issued a statement, declaring that he was not dead but suffering from old age ailment and asked Nigerians to pray for him to survive the health complications.

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Umahi Apologises to Tinubu, Lagosians, Denies Knowledge of Bridge Closure

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The Minister of Works, Senator Dave Umahi on Thursday, said the closure of Independence Bridge in Lagos for urgent rehabilitation of the collapsed retaining wall was made without his knowledge or authorization.

Umahi said this while apologising to Lagos residents and President Bola Tinubu for the disruption caused by the sudden closure of the bridge on Wednesday.

Umahi who spoke when he toured the bridge in Lagos said: ” Unfortunately, when the bridge was to be closed, I was not informed. It is very unfortunate because for a bridge to be closed, especially in Lagos, as has been the tradition, I should be informed as the minister.

“We should also have studied the implication of it even in an emergency situation. We would have deployed emergency evaluation of the implication of closing the bridge.”

Umahi warned that controllers of works and engineers would face disciplinary action if such an incident would happen again.

“I use the opportunity to warn all controllers and engineers all over the country. Never you close a road or close any bridge without running through the permanent secretary, who will seek for permission from the honourable minister of works,” he said.

The minister acknowledged the efforts of Lagos State Government in managing traffic flow during the closure.

He also took responsibility for the error, saying: “I take responsibility for it, even though I did not order it, but every action by any staff of the ministry of works, I take responsibility for it.”

Umahi said that the closure, which caused significant traffic congestion, was avoidable.

He said: “If we were to do this properly, there would have been a different kind of method deployed and it wouldn’t have necessitated the total closure.”

According to him, even if closure was necessary, it would have been done in a way that it would take three days: Friday, Saturday, Sunday, and necessary remedial work would have been put in place.

“What we are doing now is to restore the bridge temporarily within the next three days. By Sunday, this place will be totally open.”

He added that a permanent solution would be implemented after a two-week assessment.

“Then, after two weeks, we will look at the settlements, and then we will take out three days to put the permanent structure. That is what we are going to do,” he said.

The minister emphasised the competence of the contractor handling the project, Build Well.

“Build Well is a reputable company, and they have been restoring a lot of failures on our bridges in Lagos, some of them 53 years old.

“Some bridges’ spans have been lifted, especially Eko Bridge, Marina Bridge, and even the Lagos-Ibadan Bridge. They are also intervening in all of them,” he added.

The minister also said that the design of the bridge would be varied to address the emergency situation.

He said: ” The design will be varied according to the emergency situation we have on ground, and the contractor is going to cooperate with us.”

He pledged to personally oversee the restoration efforts, saying, “I am not going until the bridge is fully restored by Sunday, we will work day and night to restore it, and then we will evaluate it.”

The bridge was initially closed on April 1 for essential maintenance and rehabilitation works, with the government planning to complete the repairs by May.

NAN

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Communal Clashes: Adeleke Threatens Royal Fathers with Dethronement

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Osun State Governor, Senator Ademola Adeleke, has threatened stern state action against traditional rulers of Ifon, Erin Osun and Ilobu communities if they fail to sustain current peace, and de-escalate the crisis in their communities.

The Governor issued the warning against the backdrop of online reports that some faceless groups across the conflict areas are planning another round of attacks.

“In the midst of sallah celebrations, I got reports of some people planning another round of conflict around Ifon, Ilobu and Erin Osun towns. The security agencies have tightened surveillance to ensure no attacks take place.

“The security agencies are also speeding up the interrogation of key chieftains and actors in the conflict. I will remind top leaders of the towns that the peace undertaking they are signing are not for joke. They will be held accountable. There will be accountability before the law.

“The curfew we relaxed was on humanitarian grounds. As a compassionate government, we know many innocent people are suffering because of the evil agenda of a few elements across the conflict areas. Any attempt to exploit the adjustment of the curfew for renewed violence will be met with full re-imposition of the 24-hour curfew.

“Additionally, I will remove from office, any traditional ruler where violence recurs. This card is on the table. Royal fathers of each town must call their subjects to order. I will wield the big stick. Enough is enough”, the Governor was quoted as saying in the statement.

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