“The Big, Long, Snake…”…Picture of the Week – “…Aiyam coming”…Soludo underscores Akulueuno in Lagos…Much ado about cropping or no cropping…plus South East Digest…

Tinubu welcomes AfDB’s $520m investment on Nigeria’s Agro-Processing Zones

African Development Bank (AFDB) President, Dr. Akinwumi Adesina said the bold initiatives of President Bola Tinubu have repositioned Nigerian economy in three weeks.

Akinwumi, who met the president in Paris, said the bold initiatives which include removal of fuel subsidy and harmonisation of exchange rates stimulated appetite of investors from different parts of the world. 

“I commend the President’s foresight, boldness and determination for macroeconomic policy direction by removing the fuel subsidy,’’ he said, “No bird can fly with its wings tied behind. All those steps are signals investors like.’’ 

He said the bank would support the economic policies of the new administration in Nigeria, that had placed the people first in development targets.

Speaking to Dr. Adesina, President Tinubu said he welcomes with great joy the investment of $520 million in specialised agro-processing zones by the African Development Bank (AfDB).

The president praised the leader of the multilateral institution for further opening up the economy for investments that provide job opportunities and reduction in poverty.

President Tinubu said the agro-industrial project strengthens an area of the country’s competitive advantage as he listed other areas of priority that require Foreign Direct Investment (FDI).

The President urged the Bank to inject funds into projects that target women and youth empowerment, while appreciating the AfDB President for his vision of setting up a Youth Entrepreneurship Bank in Nigeria that will provide credit, skills and other support for young Nigerians.

Tinubu assured Adesina that the Federal Government would provide all the necessary assistance to ensure sustenance of the projects, adding that electricity remained a priority area that needed urgent attention.

“The Big, Long, Snake…”

“Mama Nnukwu, the Big, Long, Snake, that carries people (and goods too) will soon come to Onitsha”!  “Eziokwu?  Who will bring it and how will it come?  Will my grandchildren be coming with it?”  That was the chatter between Udechukwu Nwora, a Lagos-based business man and his mother last Thursday evening.  (Udechukwu had called his Mum to tell her that he would not be able to arrive Onitsha that evening any more as the ANSIPPA briefing he had originally planned to attend eventually dovetailed into the Soludo Town Hall Meeting with ndi Anambra in Lagos.  So, he couldn’t leave Ikoyi in time to be able to catch a flight that evening for Anambra International Cargo and Passenger Airport, Umueri). 

Udechukwu and other key Anambra investors and potential investors had attended the ANSIPPA side event where sweet talking Mark Okoye II, MD/CEO of ANSIPPA regaled them on plans by the Soludo administration to turn Anambra into a liveable and prosperous homeland.

Udechukwu’s sales pitch to his Mum is based on ANSIPPA’s “Anambra Intercity Rail”, one of the projects that the Soludo administration has in the pipeline.

Earlier, Mark Okoye had told the audience that “the Anambra Rail Master plan is a vital infrastructure initiative aimed at revolutionizing transportation within the State as part of the Soludo Agenda to transform Anambra into a prosperous, liveable, and smart megacity. 

“The initial phase of this master plan focuses on the Onitsha Sky Train project which aims to establish connectivity between the key neighbourhoods and markets within the city.  With a strong emphasis on efficiency and sustainability, the project will create an integrated train network that reduces reliance on vehicles and promotes environmentally friendly modes of transportation.

“The Onitsha Sky Train is projected to require an investment of $100 million. Its implementation is expected to boost the State’s annual GDP by 5% and generate over 2,000 job opportunities, contributing to economic growth and improved mobility within Anambra.”

Ndi Anambra are eagerly waiting.

Picture of the Week – “…Aiyam coming”

The world waits for President Bola Tinubu:

Soludo underscores Akulueuno in Lagos

Anambra State Governor, Professor Chukwuma Soludo, CFR, was in Lagos last week to underscore the need for ndi Anambra to support his dream for a liveable and prosperous homeland, just as he seized the opportunity to sensitise them on the forthcoming Anambra Investment Summit.  His Chief Press Secretary, Christian Aburime writes on the message and the reception:

Soludo To ndi Anambra in Lagos:  Investing in Anambra is in your own best interest

by

Christian ABURIME

Anambra State Governor, Professor Chukwuma Charles Soludo, CFR, has warmly advised Ndi Anambra resident in Lagos that Anambra State is ready for business, adding that investing in the State will be in their own best interest. 

The Governor made the appeal during a town hall meeting with Ndi Anambra resident in Lagos while enumerating some of the progress made so far by his administration after a year in office. 

While making his speech, Governor Soludo sounded philosophical by telling his audience that God couldn't have made a mistake by making them Onye Anambra. 

He enjoined them to reflect deeply on it and do everything possible to contribute to the growth of the state.

"This is the same question I ask myself every day. And we have a responsibility to leave Anambra State better than we met it7"; the Governor said.

He emphasized on the need to change Anambra State from a departure lounge to a destination, stressing that the homeland consciousness must be inculcated in the perceptual-mind of every onye-Anambra.

"Your host will never respect you if you don't have a livable and prosperous homeland". Governor Soludo reiterated

Speaking on the chaotic nature of Onitsha, Governor Soludo assured the audience that his government is determined to resurrect Onitsha by returning it back to its former glory as the biggest commercial city in the South East and beyond.

On security-related issues, the Governor maintained that his administration has drastically reduced the menace of killings and kidnapping to the barest minimum with the security architecture put in place by his government.

He commended the Security forces- the Army, Navy, Police, the States Vigilante Group and other paramilitary agencies for their dogged efforts in contributing to the successes recorded so far.

The Governor also told his audience that the first order of business is law and order and reassured them that law and order has been greatly restored in the state compared to the impunity that held sway before he came into office. 

He also reassured that more roads will be flagged off in addition to the over 300 kilometers of roads already flagged off and are in various stages of completion.

To boost power supply in the state, Governor Soludo stated that his government recently signed an MOU with EEDC for a 24hrs supply of electricity in the state.

He however enjoined anyone who is interested in collaborating with his government to set up Independent Power Plant in the state is welcome to do so.

On transportation, Governor Soludo reassured that his government is working towards the introduction of rail services; both light and sky rail, to improve the transportation system in the state.

On health and education, he reassured of adequate human capital investments being put in place with the recent employment of 5,000 teachers and over 300 medical personnel to end the pathetic eras of schools without teachers and hospitals without Doctors and Nurses.

The Governor decried the menace of gully erosion and flooding ravaging the state, assuring that efforts are being exerted to control it.

He informed the audience that Anambra Investment Summit will be coming up soon in September this year, urging every business conscious Ndi-Anambra to join the rest of the world at the summit. He added that the summit will be "all about closing deals" and agreements' signing.

"Anambra is loading and the options are open." Governor Soludo further reassured.

Concluding, Governor Soludo appealed to Ndi-Anambra to always think home by imbibing the 'homeland consciousness' and to also ensure that part of their taxes are paid to the State, irrespective of where they reside or work, adding that this is the only way they can contribute to the state's development.

Others who spoke at the occasion commended the efforts and doggedness of the Governor in completely turning the state around.

The event featured key Ndi-Anambra businessmen and women as well members of the State Executive Council.

Much ado about cropping or no cropping

Ngozi Okonjo-Iweala, the Director-General of the World Trade Organization, has provided an explanation for the alleged omission of President Bola Tinubu in her earlier social media post.  It was reported that Okonjo-Iweala shared photos on her Twitter page from the Paris Global Financial Summit, featuring herself alongside other presidents, but did not include a photograph of herself with Tinubu.   Sharing the photos, she wrote: “At a panel in the Summit for a New Global Financing Pact in Paris addressing the issue of the role of trade and trade policy in fighting climate change, poverty and inequality. With @Lagarde @MathiasCormann @LaurenceTubiana @IFADPresident @rajshah Sultan Al Jaber @DrTedros @JuttaUrpilainen and Nathalie Delapalme #NewGlobalFinancingPact” 

However, this generated mixed reactions as some people claimed her post was a slap on President Tinubu, for her to recognise and share photos with the other Presidents while failing to post the photograph she had with the Nigerian leader. Following the backlash, the former finance minister in a new post, shared photos of herself and the Nigerian president exchanging pleasantries at the summit.

Speaking about the backlash via her Twitter handle on Saturday, Okonjo-Iweala clarified that she posted photos in the order received by her accompanying staff and colleagues. She, however, expressed disappointment with the attacks against her by Nigerians, saying that it shows the depth of polarisation in our society. 

She said: “Nigerians please relax! Re Paris, Interesting attacks from both sides. Sadly shows the depth of polarization in our society. I post photos in the order received by accompanying staff or colleagues. Reading more into it is unwarranted. Let’s unite to build our country not attack!”

Fund infrastructure development with Fuel Subsidy savings, Soludo urges FG

Anambra State Governor, Prof. Charles Soludo, has urged the Federal Government to deploy a huge percentage of funds saved from fuel subsidy withdrawal to infrastructure and social development.

Speaking at the Nigerian Academy of Engineering Annual Lecture with the theme: “Financing Engineering Infrastructure,” held Thursday at the University of Lagos state, Akoka, the former Central Bank Governor of Nigeria urged the government to make this investment in the nation.

He said investing eight to 10 per cent of the Gross Domestic Product in public infrastructure yearly, for the next 10 years, will positively impact the lives of citizens.

“For the federal government to succeed in infrastructure provision, it is necessary to collaborate with state governments who understand the most priority of their needs.

“For example, in the area of road infrastructure provision, the state governments are in the best position to know the alignment of roads from one end to the other. 

“Thus, it is imperative that such projects require joint collaboration for a successful and functional execution,” Soludo explained.

Also speaking at the event, Governor Babajide Sanwo-Olu of Lagos State, who was represented at the lecture by his deputy, Dr. Obafemi Hamzat, stressed the need for collaboration and partnership among all stakeholders for government to achieve its goals.

“In the face of dwindling economic fortunes especially in the area of revenue generation, it becomes absolutely imperative for the government to apply innovative and creative strategies to bridge the financing gap being experienced in the country as the government alone cannot provide all the solutions,” he said.

(A digest of latest reports on the Economy, Industry, Politics, Sports, and developments around the South East of Nigeria)

 

ABIA STATE

Abia moves to revive Cocoa cultivation

As the Abia State Government moves to turn around the fortune of Cocoa farming, the state chairman of Cocoa Association of Nigeria, Mr. John Kalu has called for support to harness the full potential of the crop to diversify the economy.

While noting that the state is ranked 8th among Cocoa producing states in Nigeria, Kalu said the cocoa farmers need encouragement by providing improved seedlings and inputs at subsidised rates, ensuring early yearly flag-off of the planting season, training and retraining of farmers, and inclusion of Abia in the Nigeria Cocoa Board.

Kalu, who disclosed this during a meeting with the Deputy Governor, Ikechukwu Emetu, members of the State Cocoa Transformation Committee and major stakeholders in Cocoa Agro Business at Government House, Umuahia, said the meeting was convened by the deputy governor to acquaint them with the government’s policy direction on cocoa production and also re-stress the importance of cocoa production in the economy of the state and nation at large.

He said: “Cocoa production is important to Nigeria’s economy and is a leading agricultural export. Nigeria is currently the world’s fourth largest producer after Ivory Coast, Indonesia and Ghana and also third largest exporter after Ivory Coast and Ghana. A cocoa processing industry will soon be established in the state; we will ensure that the cocoa growing councils will be given necessary support to ensure that Abia farmers are not left behind.

“Cocoa farming contributes to food security in the country and Africa as it provides an important source of income and nutrition to several people, in addition to being used as cost-effective organic fertiliser to help in suppressing weeds, conserving moisture and minimising erosion through the crushing of shell pods; provision of raw materials for industries; serving as a source of foreign exchange; contributing to economic development and improving standards of living, among others.”

He noted that the Agbozu Cocoa Estate at Uzuakoli in Bende Local Council has been leased out, directing the Permanent Secretary, Ministry of Agriculture, Sir Okey Ihedioha to furnish him with the lease agreement for necessary action.

In his response, Ihedioha said apart from the cocoa farm at Agbozu, there were other producing belts in Ibere, Ikwuano and Itumbuzo in Bende local council, expressing confidence that with the encouragement and support from government, the ministry can re-jig cocoa production in the state. 

Representatives of Cocoa Research Institute Of Nigeria, Prince Olaniyi and Mr. Aloysius Mba of the Federal Ministry of Agriculture, who spoke separately, lamented that the only state-owned cocoa plantation has been leased out, even as Abia has one of the best cocoa seeds in the country. 

EBONYI STATE

Nwifuru swears in 35 commissioners

Governor Francis Nwifuru of Ebonyi State, yesterday, swore in 35 new commissioners and warned them to take their job seriously, noting that the saying ‘to err is human and to forgive is divine’ will not apply in his administration.

Nwifuru, who made the statement while swearing in the commissioners and other appointees of his government, made it clear to them that they would leave office the moment lapses are observed.

He, however, congratulated the appointees, adding: “The people are looking upon us and we have to show them our style of leadership.

Prof. Emmanuel Echiegu, the new Chief of Staff to the governor, thanked the governor for appointing them and pledged that they would not disappoint him. 

The governor assigned portfolios to the new commissioners.

They include: Mr. Jude Okpor, Information; Mrs Ann Aligwe, Human Capital Development; Mrs Chinwe Okah, Budget and Planning; Chief Sunday Inyima, Capital Territory and Mr. Ogbonnaya Abara, Infrastructural Development, among others.

ENUGU STATE

Enugu Gov’t plans 100,000 hectares of Cassava Plantations for Export

The Enugu State Government says it plans to earmark over 100,000 hectares of land to boost cassava production for export, even as the Federal Government has expressed its desire to collaborate with the state government on agriculture.

This was disclosed by the state governor, Dr. Peter Mbah during a courtesy visit to his office by a delegation of the Federal Ministry of Finance, Budget and National Planning led by the Permanent Secretary, Nebeolisa Anako, Tuesday.

While noting that his administration had already identified agriculture as one of the productivity sectors that would drive development and growth in the state, the governor said cassava production would go beyond consumption to export.

He said that the value chain that would generate revenue for the people such as cassava flour, cassava cake, cassava chips, among others, would be created from cassava production.

“This project is in sync with our developmental plan. We’ve identified agriculture as one of the productivity sectors.

FG, Enugu govt to partner on Cargo, Int’l Airport terminals

The Federal government and the Enugu State government are to partner to complete and operationalise the international wing of the Akanu Ibiam International Airport, as well as build a cargo terminal to boost the state’s and nation’s economy and tourism capacity.

The Managing Director and Chief Executive Officer of the Federal Airports Authority of Nigeria (FAAN), Mr. Kabir Yusuf Mohammed, and the Governor of Enugu State, Dr. Peter Mbah, made this known after a tour of the ongoing international terminal building and the proposed site for the international cargo terminal at the Akanu Ibiam International Airport, Enugu, on Monday. 

Speaking to newsmen after a courtesy visit to the Governor and tour of the facility with the Governor, Mr. Mohammed commended Mbah’s zeal and sense of urgency towards the actualisation and operationalisation of the two terminals, saying there was no better time to discuss partnership and collaboration than now.

“We met with the Governor here today with a view to collaborate with FAAN in order to make the international terminal functional. This is a time to look at things again and again before you will be able to get the right formula for it, and I believe His Excellency has that formula and within the shortest possible time, I can assure you that this terminal will be put to use.

“The first place we went to is supposed to be the cargo terminal. We have a cargo warehouse in that location as well as the cargo terminal.

“Enugu, as the capital of South-Eastern region, is where we know that there is a lot of traders, who trade in different kinds of things across the globe.

“So, having in place a cargo terminal here will go a long way in improving the economy of the South-East Zone and the nation,” the FAAN boss stated.

Also speaking to reporters, Dr. Mbah said the operationalisation of the international terminal and construction of the cargo terminal and warehouse at the airport were critical to Enugu’s drive for a $30 billion economy, describing them as enablers of investments and key economic activities in the state.

“For us, the cargo terminal is critical. You know that we are migrating agriculture to agro-allied industrialisation. That means agriculture will not just be for food, it will also be for export. And the cargo terminal is critical if we are going to engage in the export of agricultural and agro-allied produce from the state. We need to be able to export from here. That is why we are looking at partnering with FAAN to ensure that we start and complete a cargo terminal and indeed operationalise it.

“As you can see, the international wing is almost complete. So, we need to have it operationalised. Until we get it functional, we will not be able to make money from it, and it will not impact anybody. We will not be able to create value for the people of Enugu or South East and indeed the entire country. 

“Again, if you look at the huge economic development plan we have expressed to our people, tourism is core there. We are looking at attracting over three million visitors in Enugu yearly. That cannot happen just by road. It is going to occur by flying, getting people from all across the different parts of the world to come to Enugu; and that will mean having an international airport, this terminal, in operation. That is why we are looking at how we can work with FAAN to ensure the completion of this wing of the airport and indeed operationalise it”, Mbah stated.

On the challenge of funding, Mbah assured that FAAN and the state government would explore funding models to actualise the project.

He said: “Now, we believe that projects like these are bankable because they are also revenue-yielding projects. So, there is no reason why we cannot find a financing model that will work for us and ensure that this project is immediately realised. The ultimate thing is to get it operationalised immediately”.

Mbah also said the state government and the FAAN team also had fruitful discussions on timeline to ensure the speedy completion of both projects.

“So, we are going to be working out a strategic framework of action of where we are going to, in all the functional areas, spell out timelines that we need to complete this project. But this time, it will not just be words; we will go beyond that to putting those words into action”, the Governor assured.

IMO STATE

New Data Shows Imo Leads List of 10 States With Highest Petrol Prices in Nigeria

The National Bureau of Statistics says the average retail price of a litre of the Premium Motor Spirit, popularly known as petrol, increased by 37.57 per cent from N173.08 in May 2022 to N238.11 in May 2023. NBS stated this in its latest PMS Price Watch Report published on its website and obtained by Legit.ng on Tuesday, June 20, 2023. Snapshot of petrol price in May.  According to the report, the amount Nigerian motorist paid in May 2023 is a 7.57 % increase compared to the value recorded in May 2022 (N173.08).

However, the NBS revealed that the average price value for petrol in May 2023 decreased by 6.28% compared to the N254.06 it was sold for in April 2023. Part of NBS report reads: "On state profile analysis, Imo state had the highest average retail price for Premium Motor Spirit (Petrol) with N300.00, followed by Gombe with N299.77 and Jigawa with N297.50.  "On the other hand, Abuja recorded the lowest average retail price for Premium Motor Spirit (Petrol) with N195.00, followed by Niger with N201.82 and Plateau with N203.33. "In addition, analysis by zone showed that the South-East recorded the highest average retail price in May 2023 with N256.64, while the North-Central had the lowest with N208.74." List of 10 states with the highest price for petrol in May Imo - N300.00 Gombe - N299.77 Jigawa - N297.50 Taraba - N295.00 Kebbi - N286.40 Enugu - N287.67 Kaduna - N280.00 Rivers - N250.42 Zamfara - N243.27 Lagos - N213.89.

 

You can reach us on 0803 245 9817 or obimeze@gmail.com