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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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Rivers: Wike’s Men Reject Reployment, Resign from Fubara’s Govt

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Two Rivers State commissioners have resigned their appointments shortly after they were redeployed in a cabinet reshuffle by Governor Siminalayi Fubara. They are the Attorney General and commissioners for Justice, and Finance; Zacchaeus Adangor and Isaac Kamalu respectively.

The duo were affected by a minor cabinet reshuffle made by the governor on April 23.

Kamalu and Adangor are loyalists of Nyesom Wike, the immediate former governor of Rivers and incumbent minister of the federal capital territory (FCT).

Last year, the commissioners resigned from their positions following the political feud between Wike and Fubara.

They were later reinstated after Wike and Fubara signed a peace accord facilitated by President Bola Tinubu.

While Adangor was moved to the ministry of special duties (governor’s office), Kamalu was moved to the ministry of employment generation and economic empowerment.

Kamalu’s resignation came hours after Zacchaeus Adangor, tendered his resignation.

In a letter addressed to Tammy Danagogo, secretary to the state government (SSG), Kamalu said the governor’s “inability to maintain peace” in the state was the reason he quit the cabinet.

The former commissioner said he could not give his best in an atmosphere of rancour.

“Your Excellency would recall that I served under the Administration of His Excellency, Chief Nyesom Ezenwo Wike, CON, GSSRS, POS (now Honorable Minister of the Federal Capital Territory, Abuja) originally as Commissioner for Budget and Economic Planning (2015-2019) and subsequently as Commissioner for Finance with oversight responsibility for the Rivers State Ministry of Budget and Economic Planning (2019 – 2023),” the letter reads.

“The mandates of the respective Ministries were to the best of our abilities (as Ministries) duly carried out and at all times material relevant reforms were embarked upon for improved performance and effective and sustainable service delivery.

“Among several others, we successfully carried out the following; “Initiating and (supporting existing) policy frameworks for enhanced internal revenue generation.

“This with (necessary adjustments made on some of the programs) led to the increase in the internal revenue receipts. This steady rise has presently generated though not the figures erroneously claimed in the media.

“Aggressive improvement in Federation receipts by securing recovery by the state of oilfields that were also the subject of the successful claim against International Oll Companies (IOCs) on production sharing contracts; the recoveries arising from 13% derivation and the demand by the state for adherence to the fiscal provisions in the constitution in support of states by successfully removing from Federation receipts institutions of Government whether state or federal not so recognized by the constitution such as the Police Trust Fund and others thus widening the available receipts for States and the last but not the least our success on the subject of Value Added Tax.

“The reason behind these painstaking efforts was to make available a basket of receipts sufficient to enable the state to deliver good governance through the provision of goods and services.

“It was this idea that informed the continuity and consolidation mantra that was the theme of your election campaign and government thereafter.

“You will respectfully recall that when the climate of discord became unbearable I and other like-minded members of the Executive Council that were appointed by you resigned.

“You thereafter engaged His Excellency, Asiwaju Bola Ahmed Tinubu, GCFR President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria and as Father of the Nation to intervene in the matter.

“In deference to the directive of Mr. President, I and the others were recalled and we all accepted and joined the cabinet again. I expected Sir that with the opportunity provided by Mr.President, every effort will be made to sustain peace.

“Regrettably Your Excellency the peace in Government and governance that we all – citizens and residents of the state desire has remained out of reach despite our consistent efforts and demand for same.

“This has affected our ability to protect and defend the gains that we made these past years.

“In the course of official engagements, I have reiterated the need for this peace and the fact we all are willing and determined to work for this.

“It is very difficult to deliver good governance where there is acrimony and discord. It is not the point of service that is important but the climate. Our present circumstance makes service delivery extremely challenging. I still hold the belief that it is never too late for peace.

“In view of the above, I find it difficult to accept the redeployment. I do not accept it. I reject it and convey to you my immediate resignation as Commissioner and member of the Rivers State Executive Council with effect from the date of this letter.

“While praying that the Good Lord grants us Peace, I thank you for the opportunity and assure you the assurances of my esteemed regards.”

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Tinubu Approves Credit Scheme Takeoff to Facilitate Purchase of Cars, Houses

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President Bola Tinubu has approved the takeoff of the first phase of the Consumer Credit Scheme to facilitate the purchase of houses and cars by working Nigerians. 

In a statement on Wednesday, presidential spokesman Ajuri Ngelale said the Consumer Credit Scheme will enhance the quality of life citizens by allowing them to “access goods and services upfront, paying responsibly over time”.

“It facilitates crucial purchases, such as homes, vehicles, education, and healthcare, essential for ongoing stability to pursue their aspirations,” the statement added.

“Through responsible repayment, individuals build credit histories, unlocking more opportunities for a better life. Additionally, the increased demand for goods and services stimulates local industry and job creation.

“The President believes every hardworking Nigerian should have access to social mobility, with consumer credit playing a pivotal role in achieving this vision.”

In line with the President’s directive to expand consumer credit access to Nigerians, the Nigerian Consumer Credit Corporation (CREDICORP) has launched a portal for Nigerians to express interest in receiving consumer credit.

“This initiative, in collaboration with financial institutions and cooperatives nationwide, aims to broaden consumer credit availability,” the statement noted, adding that working Nigerians interested in receiving consumer credit can visit CREDICORP’s website to express interest before the deadline date of May 15, 2024.

“The scheme will be rolled out in phases, starting with members of the civil service and cascading to members of the public.”

The CREDICORP’s objectives include: “(1) Strengthening Nigeria’s credit reporting systems, ensuring every economically active citizen has a dependable credit score. This score becomes personal equity they build, facilitating access to consumer credit.

“(2) Offering credit guarantees and wholesale lending to financial institutions dedicated to broadening consumer credit access today.

“(3) Promoting responsible consumer credit as a pathway to an improved quality of life, fostering a cultural shift towards growth and financial responsibility.”

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Group Celebrates Gov Umo Eno at 60 with Visits to Hospitals, Prisons, Empowerment of 60 Persons

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In celebration of the 60th birthday of Akwa Ibom State Governor, Pastor Umo Eno, the socio-political group, Connect Initiative, has embarked on a series of impactful initiatives.

They have empowered 60 vulnerable individuals and extended compassionate visits to hospitals and prisons across the state.

The group made up of professionals and entrepreneurs kicked off its activities with a low-key ceremony where 60 indigent people were given financial support.

The beneficiaries were carefully selected from across the 31 LGAs of the state.

In his opening remarks, the group’s Chief Conector, Dr Frank Ekpenyong, stated that the organisation decided to toe this line because it is the right thing to do putting into consideration the present realities in Nigeria.

He noted that the event which was to commemorate the birthday of Governor whom he described as a humble, compassionate and visionary leader that believes in development from the bottom up.

Dr Frank said that Comnect Initiatives will soon up the ante in terms of standing in the gap for government through impactful programmes and projects

In the course of the ceremony, seven respected Akwa Ibom indigenes were inducted into the Connect Forum: Sir Okon Okon, Captain Iniobong Ekong ( Retd), Aniekan Essienette, Ime Udo, Murphy Esin, Hon. Mbosowo David and Mrs Imobong Akamba.

The group then began the next day with a visit to the St. Luke’s Hospital, Anua, Uyo LGA where they cleared the bills of some indigent patients.

The patients who were in the maternity, female surgical and paedetric wards had concluded their treatments but could not be discharged due to inability to pay their bills.

All the patients: Patricia Victor Brown ( from Itu LGA), Nkoyo Edet Okon ( Oron LGA), Emem Gabriel David ( Nsit Ubium), Enobong Gabriel Emmanuel and Mavelous Bassey were thankful for this womderful intervention of Connect Initiative on behalf of the governor.

The most moving moment of the visit was the case of Mrs Magdalene Okon Edet. After listening to the pathetic story of her surgery and condition afterwards, the group decided on-the-spot to foot her over N400,000 bill.

She and her family broke into uncontrollable tears of joy.

In addition, during the ward rounds, the team was given the cheering news that a mother had earlier that day been delivered of a baby girl.

Not only was the Ebong family’s bill settled, when the good news was relayed to HE Governor Umo Eno that he now had a new birthday mate, he immediately requested to meet with the father of the baby.

The lucky father was acknowledged and presented with special gift by the Governor during the commissioning of Atiku Abubakar Way project in the presence of former President Goodluck Jonathan.

In his remarks, Rev. Father Gabriel Ekong the hospital Administrator thanked Connect Initiative for embarking on this noble cause that has brought relief and joy to many homes.

While praying that God would replenish the pockets of all those who contributed to the kind gesture, he applauded the vision of Governor Umo Eno for urging wellwishers to embrace charitable causes instead of spending the funds on parties or other unproductive endeavours.

He used the opportunity to pray for excellent health and wisdom for Governor Eno, while wishing him a very successful tenure in government.

The next port of call for the Connect Initiative members was the Methodist General Hospital, Ituk Mbang, Uruan LGA.

There, the team visited the wards where Baby Favour Edidiong, Joyce Isaac Mbaba, Imeh Phillip Etukudo, Prince Asuquo Okon and Nko Etim Umoh were all cleared to go home with a commitment that all their outstanding bills would be fully paid. Again the patients erupted in happiness and were full of prayers and praise for the celebrant and Connect Initiative.

The Hospital Superintendent, Dr Aniekan in his remarks thanked the group for this humanitarian gesture, adding that this act was worthy of emulation by other organisations
The day was rounded off at the Minimum Correctional Centre, Uyo where the team pledged to pay the fines of 13 inmates with minor offences

Speaking to journalists after the visits, the President-General of the group, Ms Idy Ekwo stated that its itinerary was carefully planned in accordance with the wishes of the celebrant, Governor Umo Eno.

She noted that based on what was discovered during the visits, Connect Initiative would make charitable interventions a more frequent affair.

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