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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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Court Sends Woman to Prison for Abusing Tinubu’s Son, IGP on Social Media

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Olamide Thomas, who reportedly threatened Seyi Tinubu on social media, was on Friday, arraigned before a Federal High Court in Abuja.

Olamide was arraigned by the office of the Inspector-General of Police (IGP), Kayode Egbetokun, before Justice Emeka Nwite on a three-count charge.

Olamide was alleged to have, sometime in 2024, knowingly and intentionally transmitted communication in the form of video recording through a computer system or network on her social media platforms wherein she made remarks in Yoruba language.

In the video, she was alleged to have stated: “Mr. Seyi Tinubu would die this year, and misfortune and calamity had befallen the Tinubu family, with intent to bully, threaten, harass the person of Mr Seyi Tinubu.”

The communication was said to have placed Seyi in fear of death, violence or bodily harm.

The offence is contrary to and punishable under Section 24 (2) (a) of Cybercrimes (Prohibition, Prevention, Etc.) (Amendment) Act, 2024.

In count two, the defendant was alleged to have intentionally transmitted communication in the form of video recording wherein she made remarks in Yoruba Language to bully, threaten, and harass the person of Egbetokun.

The communication was said to have placed Egbetokun in fear of death, violence or bodily harm.

The offence is contrary to and punishable under Section 24 (2) (a) of Cybercrimes (Prohibition, Prevention, Etc.) (Amendment) Act, 2024.

She, however, pleaded not guilty to the charge.

Olamide was arrested on allegations bordering on harassing and threatening Seyi Tinubu, Egbetokun, and the Police Public Relations Officer, Muyiwa Adejobi, in a viral social media post.

In the charge marked: FHC/ABJ/CR/636/2024 dated and filed on December 18 by the police team of lawyers led by A.A. Egwu, Olamide was sued as sole defendant.

Upon resumed hearing, Victor Okoye, who appeared for the police, informed the court that the matter was slated for arraignment and that he was ready to proceed.

After the counts were read to the defendant, she pleaded not guilty to the charge.

The defence lawyer, T J. Aondo (SAN), sought to move an oral application on his client’s behalf but the request was turned down.

Justice Nwite directed Aondo to file a formal bail application and adjourned the matter until December 30 for the commencement of trial.

The judge, however, assured the defence counsel that as soon as a bail application is filed in form of a motion on notice, the court would not hesitate to hear it.

Justice Nwite, thereafter, ordered Olamide to be remanded in Suleja Correctional Centre pending the hearing of her bail application.

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Buhari Denies Ownership of Abuja Land Revoked by Wike

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Former President Muhammadu Buhari, on Thursday, denied ownership of a piece of land purportedly allocated to him by the Federal Capital Territory Administration (FCDA) in Abuja.

Media reports indicate that Minister of the Federal Capital Territory (FCT), Nyesom Wike, has revoked the ownership of 762 plots of land in the Maitama 1 District of Abuja, citing non-payment of statutory fees.

According to the trending reports, high-profile figures, including former President Muhammadu Buhari and former Chief Justice Walter Onnoghen, are among those affected.

The FCTA had also issued a two-week ultimatum to 614 other individuals and organisations, demanding they settle outstanding Rights of Occupancy (R-of-O) fees or risk losing their plots.
However, debunking the reports, the former President stated he is “not the owner of the said plot of land which is allocated in the name of a ‘Muhammadu Buhari Foundation.’”

In a statement issued by his media aide, Garba Shehu, in Abuja, the former President explained that he turned down the offer by the administration when it was presented to him.

The media aide further clarified: “When he and his cabinet members were invited to fill the forms and obtain land during his tenure in office, he returned the form without filling it, saying that he already had a plot of land in the FCT and that those who did not have should be given. He, therefore, turned down the offer.

“All those jumping up and down in the digital space talking about the rightfulness or the lack of it on the reported seizure of Buhari’s land in Abuja to get their facts right and stop dragging down the name of the former president.

“As with anything Buhari—and there is no surprise in this at all—there is a lot of buzz in the media on the reported seizure of a piece of land by the authorities of the Federal Capital Territory, Abuja, FCTA, allegedly belonging to the former President Muhammadu Buhari.

“Former President Buhari is personally not the owner of the said plot of land, which is allocated in the name of a ‘Muhammadu Buhari Foundation.

“The Foundation was itself floated by some utilitarian individuals around him who, it must be said, went about it in a lawful manner with the support of a number of well-meaning persons.

“But they ran into a roadblock in the land department of the FCDA, which handed them an outrageous bill for the issuance of the certificate of occupancy, very high in cost that did not at all compare with the bills given to similar organisations.

“It may have been that this was not erroneous, but a deliberate mistake, making the revocation of the land no surprise to anyone.

“As a person, the former President has a plot of land to his name in Abuja,” he added

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Dangote Refinery, a Wonder of Modern Technology – Japan Ambassador, Business Community

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The Dangote Refinery and Petrochemicals complex has been hailed as an astonishing masterpiece, showcasing Nigeria’s technological advancements on the global stage.

This accolade was shared by a delegation from the Japanese Business Community in Nigeria, led by Japan’s Ambassador-designate to Nigeria, Suzuki Hideo. The Dangote Group also reiterated that its petroleum products are in demand worldwide, as it expands its polypropylene section to reduce Nigeria’s reliance on imported polypropylene, a crucial material used in packaging, textiles, and the automotive manufacturing industries.

The Japanese delegation, which toured the impressive facilities housing both the Dangote Petroleum Refinery and Petrochemicals as well as Dangote Fertilisers, commended the state-of-the-art technology on display, noting that it reinforces Nigeria’s role as the gateway to Africa.

Managing Director of the Japan External Trade Organisation (JETRO), Takashi Oku, remarked that while Nigeria remains the gateway to Africa, the Dangote Refinery stands as a remarkable project that showcases the country’s technological progress. He added that the facility, as the world’s largest single-train refinery, is a point of immense pride for Nigeria. JETRO is Japan’s governmental organisation for trade and investment.

“We had heard about the excellence of the Dangote Refinery through the media but seeing it in person has left us truly amazed by its vastness and grandeur. It demonstrates that Nigeria’s population is not only growing but also advancing in technology. We are keen to collaborate with Nigerian companies, especially Dangote Refinery,” he said.

Emphasising that the refinery has bolstered Nigeria’s leading position in Africa, he further noted that the facility serves as an ideal introduction to the country for the global community.

Managing Director of Itochu Nigeria Limited, Masahiro Tsuno, also praised the sheer size and automation of the Dangote Refinery, calling it a miracle and one of the wonders of the world.

“I’ve seen many standalone refineries across the globe, including in Vietnam and the Middle East. However, this size of a refinery built by one single investor is probably a miracle in the world. And I’m just actually witnessing a miracle, to be honest, today,” he said. Tsuno indicated that his company would seek collaboration with the refinery across various sectors, including polypropylene and other petroleum products.

Commending the ambassador-designate and his team, which described the Dangote Petroleum Refinery as a wonder of modern technology, Vice President of Oil and Gas, Dangote Industries Limited, Devakumar Edwin, explained that the facility is the vision of a Nigerian investor- Aliko Dangote, designed and built by Nigerians, and intended to serve the global market.

He said that it is a point of pride that a Nigerian company not only designed but also built the world’s largest single-train refinery complex. Dangote Industries Limited, a Nigerian company, acted as the Engineering, Procurement, and Construction (EPC) contractor for the refinery. In the process, cutting-edge technologies from around the world were incorporated to ensure that the facility meets the highest standards. Edwin assured the ambassador-designate and the delegation that the company is open to collaboration, always striving to maintain the best possible standards.

“Even now, we have a lot of Japanese equipment inside both the refinery and the fertiliser plant. There are significant opportunities for collaboration, as we always seek the latest technology in any business we engage in. For instance, our cement plant laboratory is managed by robots, and we always embrace advanced technology. With Japan’s focus on technological innovation, there is ample scope for cooperation and for supplying various types of technology,” he said.

Edwin also stated that the Dangote Petrochemical project will significantly boost investment in downstream industries, creating substantial value, generating employment, increasing tax revenues, reducing foreign exchange outflows, and contributing to Nigeria’s Gross Domestic Product (GDP).

He confirmed that products from the refinery meet international standards and are already being exported globally.

“In recent weeks, we’ve exported petrol to Cameroon, Ghana, Angola, and South Africa among others. Diesel has gone all over the world, and jet fuel is being heavily exported to European markets. Our products are already making their mark internationally,” he said.

He further added that by leveraging Africa’s vast crude oil resources to produce refined products locally, the Dangote Group aims to create a virtuous cycle of industrial development, job creation, and economic prosperity.

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