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President, Dangote Industries Limited (DIL), Aliko Dangote, has called for increased investments in the African continent to foster its rapid growth and development.
Speaking at the gathering of private sector leaders in Africa, the Africa CEO Forum in Kigali, Rwanda, last week, Dangote emphasized that recent trends underscore Africa’s pivotal role as the future epicenter of global progress.
In a statement, Dangote cautioned against the continent’s overreliance on raw material exports, advocating instead, for strategic investments that will propel indigenous industries.
He urged African nations to resist the urge to export raw materials but to nurture domestic manufacturing capabilities so as to reduce dependency on imported consumer goods.
Dangote said, “Looking ahead, Africa holds the key to its greatness. I’m not merely investing money but dedicating my entire being to this cause. In Africa, possibilities are boundless. It is like a scratch card; you won’t know what is inside unless you scratch it. For some of us, despite the boom of the capital market in the US, we didn’t really participate, rather we invested in Africa.”
[Punch]
Maimunatu Ibrahima has been sworn in as the first female speaker of the Economic Community of West African States (ECOWAS) parliament.
Ibrahima, who hails from Togo, was sworn in on Thursday at the second extraordinary session of the parliament in Kano.
She was nominated for the post by members of the parliament from Togo and was elected unopposed.
The ECOWAS parliament operates a rotational system for the speakership using an alphabetical order of countries.
Barau Jubrin, Nigeria’s deputy senate president, previously held the role before Ibrahima’s succession.
Jubrin was initially elected as the first deputy speaker at the inauguration of the sixth legislature of the ECOWAS parliament last month but had to act as speaker to avoid creating a vacuum of leadership after Togo’s absence at the session.
The French-speaking West African country was yet to conduct elections at the time to enable the nation to send its representatives to parliament.
The position was held last by Sierra Leone.
In her acceptance speech, Ibrahima thanked parliamentarians for electing her and assured that she would bring her wealth of experience to bear on the sub-regional parliament.
She also thanked the presidents of Togo, Nigeria, and the authorities of the heads of state for supporting the parliament.
“My priority is to work harmoniously with my colleagues to advance the integration of the West African sub-region,” she said.
Ibrahima previously served as the third deputy speaker in the fifth legislature of the ECOWAS parliament and has been a member since 2021.
[TheCable]
The Kano State House of Assembly on Thursday asked kingmakers to name a new Emir sequel to its annulment of the 2019 emirate law enacted under the former state governor, Abdullahi Umar Ganduje administration.
The state lawmakers, during plenary passed the amended Kano State Emirate Council (Repeal) Bill 2024.
Recall that in March 2020, Ganduje deposed Sanusi Lamido Sanusi as Emir of Kano over alleged disregard to lawful instructions from the office of the governor.
Ganduje, using the power in the 2019 law, divided the emirates into five and deposed Sanusi.
Aminu Ado Bayero was then crowned as the new Emir of Kano
However, today, Lawan Yan Gurasa, who sponsored the amended bill, told newsmen that Ado Bayero is no longer the Emir of Kano with the passage of the new legislation.
Gurasa said: “The bill has been sent to the governor for assent. Now, there is no longer an active Emir in Kano in all the five emirates — Kano, Bichi, Gaya, Rano and Karaye.
“The law now provides the governor to call on the traditional kingmakers to choose a new king.”
The Department of State Services (DSS) have taken over the palace of the Emir since the amended bill was passed by the lawmakers.
Real Madrid have been named as the most valuable football club in the world by Forbes for the third year in a row, in view of the club’s fortunes valued at 6.6 billion dollars.
According to the list, Real Madrid are on top with a market value of $6.6 billion (€6.08 billion), with Manchester United closely trailing them at $6.55 billion (€6.04 billion).
Barcelona are an entire billion behind their rivals, sitting at a market value of $5.6 billion (€5.16 billion).
This valuation has certainly dropped across the last few years, especially following the departure of Lionel Messi and other marketable superstars.
Liverpool and Manchester City complete the top five, with their respective market values sitting at $5.37 billion (€4.95 billion) and $5.1 billion (€4.7 billion).
Bayern Munich, PSG, Tottenham Hotspur, Chelsea, and Arsenal round off the top ten list, with values ranging from $5 billion to $2.6 billion.
No. 1 • $6.6 billion
Real Madrid
No. 2 • $6.55 billion
Manchester United
No. 3 • $5.6 billion
Barcelona
No. 4 • $5.37 billion
Liverpool
No. 5 • $5.1 billion
Manchester City
No. 6 • $5 billion
Bayern Munich
No. 7 • $4.4 billion
Paris Saint-Germain
No. 8 • $3.2 billion
Tottenham Hotspur
No. 10 • $2.6 billion
Arsenal
[Leadership]
Alhaji Muhammadu Sanusi II, the 14th Emir of Kano, on Thursday, shared what he discussed with Governor Siminalayi Fubara of Rivers State.
While speaking at the ongoing Rivers Economic and Investment Summit in Port Harcourt, Sanusi, who was the keynote speaker at the event, said he told the governor that a lot of young people with first-class degrees are unemployed because they have not been equipped with the right skills.
He said: “The key to economic development is human capital. Investing in people is paramount. Rivers State needs robust education and skills training programmes that essentially aim to prepare youths to be the future for us.
“I was speaking to the governor today, telling him that I’m sure he, as I do, and all of us, have hundreds of CVs of young people who have first class degrees. Unfortunately, they cannot do anything to get a formal job because they have not been equipped with the right skills for this economy.”
He commended the Fubara administration for seeking to chart a new path for growth and prosperity.
He said as an oil-rich state, the natural resource was not enough to turn the fortunes of Rivers around but such feat could be achieved through purposeful leadership.
The summit is Sanusi’s first public appearance since the news of the move to reinstate to the throne broke.
Daily Trust had reported how the Kano Assembly repealed the law which ex-Governor Abdullahi Ganduje used to dethrone Sanusi in 2020.
[DailyTrust]
The Cross River State Police Command on Thursday has cordoned off the State House of Assembly complex.
This was a sequel to the plot on Wednesday by 17 members of the 25-man assembly to remove the Speaker, Elvert Anyambem over allegations bordering on financial malfeasance.
Confirming the development to The PUNCH, the State Police Public Relations Officer, Irene Ugbo said the decision to cordon off the Assembly complex by the police was to prevent the breakdown of law and order across the state.
Recall that 17 members of the Assembly on Wednesday purportedly removed the Speaker over sundry allegations, but the Speaker, through his Chief Press Secretary, Matthew Okache, insisted that he remains the Speaker as there’s no vacancy in the office.
Although the 17 lawmakers, as at the time of filing this report have not named a replacement for the allegedly impeached Anyambem, because, according to them, they are waiting for the governor of the state, Bassey Otu.
Ayambem was reportedly impeached in the early hours of Wednesday by his colleagues over “alleged gross misconduct and administrative high handedness,” while the mace, being the symbol of authority of the House, was taken away after the impeachment degenerated into a fracas, leading to a free-for-all in the hallowed chamber of the Assembly.
The PUNCH gathered that over 20 members of the Assembly reportedly signed up for Anyambem’s impeachment; just as it was gathered that members of the House are presently meeting outside the Assembly to elect a new Speaker.
[Punch]
The Federal Government said it is deploying an automated border management solutions across its vast borders in order to tackle cross-border banditry and irregular migration.
Minister of Interior, Dr Olubunmi Tunji-Ojo disclosed this on Thursday in Abuja shortly after inspecting the e-border management centre as well as the Command and Control Centre for the electronic gates at the airports.
According to him, while the e-border project was over 60 percent completed, the e-Gates Command and Control Centre is now 100 percent completed and awaiting commissioning by President Bola Tinubu. Both centres are domiciled in the Nigeria Immigration Service NIS Headquarters in Abuja.
Addressing Journalists after the inspection, the Minister said; “On the border management solutions, we have gone very far. At the moment, I think we have done 60 percent in terms of deployment because what we saw the other time had to do with the air border solution, which is the Command and Control Centre, the e-Gates that we have. But we are not just talking about air borders or airports, we are also talking about our land borders and even the land borders as we know are more porous – both land and sea borders.
“What we are doing now is automating the whole surveillance system in our border space and real time, we can view a lot of our borders at this moment and I won’t want to disclose more. But the simple truth is we are automating the whole process and I think by October, the Phase 1 of the whole border surveillance system would have been completed and from here we can view, see kilometres away from the border before people even come into Nigeria.
“Also, there is a solution that enables people in the border areas to communicate directly if there is emergency. They can report issues and there are solutions as to how we just don’t take their reports or complaints but that we can swing into actions.
“We want to make our borders as interactive and safe as possible because in the larger perspective, the belief of Mr President is that a secure border is a secure nation. So, securing our border is very key in terms of securing our nation and the administration of President Bola Tinubu is not leaving any stone unturned in the quest of making Nigeria a safe country for people to be able to sleep with their two eyes closed.
“But I can tell you, anyone who thinks that he can perpetrate illegality within our border space should be prepared for the consequences. We are renewing the hopes of Nigerians in all areas of life. This is just Phase 1 and we will soon start Phase 2. We will do it in such a way that the entire 4,447 kilometres of Nigeria’s border is secured. The journey of a thousand miles starts with a step. We have started now and we are not going back until Nigerians can sleep with their two eyes closed”.
On the commissioning of Command and Control Centre for the e-Gates, the minister said the project was already completed and would soon be commissioned.
“We are waiting for Mr President. We have already notified the president and I am happy that the media have seen the place and you know it is 100 percent ready to go”, he stated.
On her part, Comptroller General of Immigration Service, Kemi Nanna Nandap said the officers and men are well motivated and currently undergoing extensive trainings on the e-solutions.
“We are over 60 percent gone with regards to the border management solutions and our officers and men are also being trained currently. We are ready and our officers are well motivated”, she said.
The CGIS explained that the border communities have been sensitized on how to collaborate with the service, adding that the NIS has opened a communication line with the communities in order to be able to get relevant information from them.
[Vanguard]
Russian President Vladimir Putin on Thursday signed a decree allowing the confiscation of assets inside Russia belonging to the United States, its citizens and companies, to compensate those hit by Western sanctions against Moscow.
The West froze around $300 billion of Russian financial assets, mostly its central bank reserves, after Moscow ordered troops into Ukraine in February 2022.
And the US Congress last month passed a bill that would allow President Joe Biden to use frozen Russian assets in the United States for a special fund to support Ukraine.
The Russian decree will give Russian companies, organisations and individuals that have been hit by sanctions the right to apply for compensation from the Russian government.
The compensation would come in the form of US-owned assets — such as real estate, companies, bank accounts or shares — based in Russia.
Many Western companies have left Russia since it launched its offensive on Ukraine.
Those that remain — or have yet to finalise sales of their Russian businesses — could now be at risk of having their assets seized.
Both Moscow and Western capitals have traded accusations of stealing each other’s property over the asset freezes.
Russia has taken a number of Western-owned businesses under “temporary” state control in the past two years — acts decried by Western leaders and companies as “nationalisation”.
In Europe, where the vast majority of the frozen Russian assets are located, pressure is ramping up over how to use them to support Ukraine.
On Thursday, US Treasury Secretary Janet Yellen called for the G7 to be more “ambitious” in how it can use the funds to help Kyiv.
AFP
President Bola Tinubu has directed a comprehensive review of the newly announced governing boards of tertiary institutions.
On May 18, the federal ministry of education announced the appointments of 500 persons to serve as pro-chancellors and members of the governing councils of public tertiary institutions across the country.
In a statement on Thursday, Bayo Onanuga, special adviser on information and strategy, said the president directed a review due to criticisms that the appointments did not reflect federal character.
“Public reactions showed that the nominations did not reflect the federal character of the country as some states got just one nomination, while some others got many,” Onanuga said.
“In directing a complete review of the list of members, President Tinubu acknowledges the feedback across the country.
“President Tinubu is committed to ensuring strict compliance with the principle of federal character as entrenched in the constitution.
“The review will also take into consideration national spread and ensure every part of the country is adequately represented.”
[TheCable]
he house of representatives has passed a bill seeking to reintroduce the old national anthem.
The old national anthem is themed: ‘Nigeria, We Hail Thee’.
The house speedily passed the bill for first, second, and third readings during plenary on Thursday.
More to follow…
More...
The Minister of Information and National Orientation, Mohammed Idris, has launched the Nigerian National Information Portal as the official digital gateway to comprehensive information about Nigeria.
The Minister, who launched the portal at the commencement of the Ministerial Sectoral Briefings to mark the first anniversary of the Tinubu Administration, said the portal serves as a centralized source for both local and international audiences, providing reliable and up-to-date information on various aspects of the nation, including the government, the people of Nigeria, their cultural heritage and many more.
“We use this opportunity to launch the Nigerian National Information Portal. Of course, it was in existence before but it has been so badly managed that the Federal Ministry of Information and National Orientation has resuscitated this new portal.
“It is a gateway to all the information you require to know about this government; about Nigeria, people, and our cultures. So, join me in clapping for Nigeria for having this relaunched new National Information Portal,” he said.
The link to the portal is www.nigeria.gov.ng.
Speaking earlier in his address of welcome to the Sectoral Briefings, the Minister said the President has started laying a solid and enduring foundation that will make life better for the people of Nigeria.
“Landmark initiatives like the Consumer Credit Corporation, the Nigeria Education Loan Fund, Presidential Initiative on Compressed Natural Gas, the 200 Billion Naira Presidential Grant and Loan Scheme, our Agriculture and Food Security efforts (including the launch of Dry Season Farming, and massive fertilizer distribution), the Renewed Hope Infrastructure Development Fund(RHIDF), Renewed Hope Cities and Estates programme, our reform efforts in the Electricity Sector, and the area of Taxes and Fiscal Policy, and the negotiations for a befitting new National Minimum Wage – are some of the many policies and programs that will directly touch and improve the lives and livelihoods of tens of millions of Nigerians,” he said.
Idris expressed the commitment of President Tinubu to ensuring the cost of living and doing business in Nigeria is brought down significantly by putting more money into the pockets of Nigerians, attracting more local and foreign investment, and transforming the nation’s infrastructure.
“And we will not pause or relent until we have delivered Truly Renewed Hope to all Nigerians,” he said.
The Information and National Orientation Minister said the commemoration of the administration’s first anniversary offers the opportunity to present the government’s scorecard to the Nigerian people, by telling the story of what has been done so far to fulfil pledges and promises made to the people.
The first session of the Sectoral Briefing has the Minister of Budget and National Planning, Senator Atiku Bagudu; Minister of FCT, Mr Nyesom Wike; Minister of Youth Development, Dr Jamila Ibrahim Bio; Minister of Steel Development, Prince Shuaibu Abubakar Audu; Minister of State for FCT, Dr Mariya Mahmud; Minister of State Petroleum, Senator Heineken Lokpobiri and Minister of State for Youth Development, Mr. Ayodele Olawande.
[DailyPost]
Kano Assembly on Thursday dissolved all the five emirate councils in the State, declaring Governor Abba Yusuf has the sole constitutional powers to appoint new emir(s).
The Assembly took the decision at the floor of the House during plenary on Thursday.
During the sitting, the Kano State emirate council amendment bill was considered after scaling second and third reading on Thursday.
Deputy Speaker Alhaji Muhammad Bello Butu explained that repealing the law would revive the lost glory of Kano as the division of Kano emirate to five reduced the capacity and dignity of the State at national level.
Majority Leader Alhaji Lawan Hussaini Dala said the emirate council had served as a custodian of culture before, according to him, it was distorted by the creation of additional emirates.
Speaking to journalists, the majority leader explained that with the amendment of the law, all the five emirate councils were abolished while the commissioner for local governments would serve as the overseer.
The Assembly however adopted a motion to create new second class emirate council in the state.
Details Shortly…
[TheNation]
The Minister of the Federal Capital Territory, Nyesom Wike, has disclosed that the Abuja Light Rail will operate free for two months, after its commissioning on Monday, the 27th of May, 2024.
Wike stated this during the ongoing Ministerial Sectoral Update to mark the first year in office of the President Bola Tinubu administration, held at the Radio House in Abuja, on Thursday.
The Minister had earlier stated that the President, Bola Tinubu will commission the Metro rail project for commercial activities on Monday.
He however urged residents to begin use of the Metro rails from Tuesday, the 28th of May, adding that the goal was to aid the ease of commuting for residents and that the President may extend the free train rides up to 6 months.
The Minister also said the FCT Administration will begin the construction of 10,000 affordable housing units tagged the Renewed Hope City from the coking year, 2025.
The Minister of Youth Development, Jamilo Bio Ibrahim, and the Minister of Transportation, Sa’Idu Ahmed Alkali, are also expected to give briefings today.
More details later…
[Punch]
Tragedy struck in the early hours of Thursday, when over 20 passengers narrowly escaped death in multiple auto crashes at Kara Bridge, along Lagos-Ibadan Expressway. The accident occurred inward Arepo, Lagos-Ogun boundary.
The accident, according to eyewitnesses, occurred at about 8.45 a.m. It led to a chaotic gridlock, leaving motorists stranded.
At press time, emergency responders were on the ground to ensure the removal of the vehicles impeding the free flow of traffic.
Rescue
The responders include the Lagos State Emergency Management Authority, LASEMA; Lagos Metropolitan Area Transport Authority, LAMATA; Lagos State Traffic Management Authority, LASTMA; men of the Lagos State Fire and Rescue Service; Police, among others.
The accident involved a 40-foot containerised truck, a luxury bus with number plates KPP921ZW, belonging to Sopuru Chukwu Motors, a Hiace bus, and a van used for commercial purposes.
The incident shut down about 99 percent of the road, thereby causing gridlock.
Meanwhile, the traffic officers are currently controlling traffic, pending the arrival of recovery vehicles.
The Permanent Secretary of LASEMA, Dr. Femi Oke-Osanyitolu, attributed the accident to overspeeding and recklessness.
Oke-Osanyitolu confirmed that the 20 casualties, yet to be identified, were transported to nearby hospitals.
The ones with minor injuries were being treated on-site.
Below are more photos from the accident scene:
