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US Pledges N8.4bn For 2015 Polls …Firm To Invest $14bn In Nigeria, Others

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The United States Government, yesterday, said it would provide $51million (about N8.4billion) to support credible elections in Nigeria in 2015 and other electoral process in the country in the next five years.
This is contained in the ”Fact Sheet” issued by the White House in Washington DC, which highlighted US support for democratic institutions, good governance and human rights in Africa.
The Tide learnt that the publication was released just as the US-Africa Leaders Summit being attended by 50 leaders from the continent, including President Goodluck Jonathan, began in Washington DC.
The publication stated that the US was working with other donors to support Nigeria’s electoral management bodies and strengthen the ability of the country’s civil society to promote electoral reforms.
According to it, part of the funds will be used to expand voter education and monitor electoral processes in the run-up to the 2015 elections.
The US Government also announced that it had launched “Making All Voices Count,” a programme aimed at supporting innovation and research that would empower citizens in some countries to engage with government.
“The project is being executed in partnership with other governments and private foundations.
“The partnership with the United Kingdom, Sweden, the Omidyar Network, and the Open Society Foundations, is providing $55million globally in support and in capacity building from 2013 through 2017,” it stated.
It said that the first round of grants on the programme, totalling $2.5million had been announced and would benefit African countries, including Nigeria, South Africa, Liberia and Ghana.
Meanwhile, some United States companies are planning $14billion worth of investments in Africa, a White House official said yesterday as the US-Africa Leaders Summit turned its focus to boosting commercial ties.
President Barack Obama is to announce the investment projects later in the day as he addresses some 45 heads of state and government from the African continent invited to Washington for the historic gathering.
The first day of the summit, the largest such meeting ever held in the US capital, saw American officials chiding their guests over democratic reform and civil rights.
But now Obama and titans of US commerce and industry will try to convince their counterparts that America is as determined to take part in Africa’s growth story as China or Europe.
Hundreds of US and African business chiefs will join the political leaders in forums, including the top executives of General Electric, Coca-Cola and Walmart, and African tycoons such as Aliko Dangote, Mo Ibrahim and Ashish Thakkar, the young founder of the tech-focused Mara Group.
Secretary of State John Kerry was straightforward about Washington’s aims, saying “I say unabashedly: We want and we will work hard to get more American companies to invest in Africa.”
Kerry said Monday, that “We also want more African companies to invest here in the United States, and there’s no reason that they shouldn’t.”
Amid African criticism that American businesses are less knowledgeable and more afraid of risks on the continent than European and Asian rivals, Commerce Secretary Penny Pritzker said the US government would boost efforts to build commercial ties.
“The time to do business in Africa is no longer five years away. The time to do business is now.”
Pritzker stressed that building trade and investments with Africa would be good for both sides, helping African countries develop and creating jobs in the United States.
“As Africa’s middle class continues to expand, we hope to see our export numbers grow,” she said.
The United States remains the largest source of investment on the continent, but most of that has been in the oil and gas sector.
However, China and Europe have built stronger positions in infrastructure, manufacturing and trade, with China’s trade with Africa more than double that of the United States.
A White House official said the new investments being announced will span a range of industries, including construction, clean energy, banking and information technology.
Stephen Hayes of the Corporate Council on Africa, a US business group, said Tuesday’s private sector meetings could get US companies more interested in the continent.
“From the standpoint of the US, we need CEOs to be more engaged,” he said.
“For America to be able to compete for the long term, with China and others, they are going to require partnerships.”

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FG Targets Production Of Locally Made Vehicles By Dec

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The Minister of Industry, Trade and Investment, Dr Doris Uzoka-Anite, has affirmed that Nigeria now has the capacity and materials to manufacture Made-In-Nigeria cars for local use and export.
With the enabling environment being provided by the government, she said manufacturers should be held responsible if the cars are not rolling out by December 2024.
Currently, Nigeria produces less than 10 per cent of the vehicles used in the country.
Last year, Nigeria’s vehicle assembling industry, estimated to be worth around N302billion, tanked to a new low due to increasing production costs and weakened demand for locally assembled automobiles.
According to the Manufacturers CEOs Confidence Index, activities of motor vehicles and miscellaneous assembly deteriorated further below the benchmark (50 points) from 48.6 to 46.7 points.
But speaking at the Automotive Component Manufacturers meeting in Abuja, she noted that the automobile industry is faced with both challenges and opportunities.
A statement issued last Friday by the Director of Information and Public Relations, Adebayo Thomas, said, “In a significant move aimed at fostering sustainable growth and development in Nigeria’s automobile industry, the Federal Government has issued a clarion call to all stakeholders, including manufacturers, dealers, regulatory bodies, and other players in the automobile ecosystem.
“The call comes as part of a broader strategy to enhance the sector’s contribution to the nation’s economy.”
Encouraging the stakeholders to key into the Nigerian Automotive Development Policy, the Minister said, “As far as we are concerned, the auto industry is now set to go.
“We are counting on all stakeholders to make that happen. If we do not produce made-in-Nigeria cars before the end of this year (December), it will be your fault, because I am sitting down here giving you all the assurances that this administration has created the enabling environment to make sure that the auto policy kicks off.”
Anite emphasised the need for collaboration among manufacturers, dealers, regulatory bodies, and other players in the automobile ecosystem, saying by working together, they can address challenges, streamline processes, and drive innovation.
She also urged stakeholders to maintain high-quality standards across the board, including vehicle manufacturing, safety features, emissions control, and after-sales services.
Stringent adherence to quality, she said, will boost consumer confidence and attract investment.
The minister assured all that the government would continue to encourage increased investment in research and development, adding that, innovations in electric vehicles, fuel efficiency, and alternative energy sources are critical for long-term sustainability.
On local content, she also emphasised the importance of promoting local content by sourcing materials and components locally.
By doing this, she said, the sector can create jobs, reduce import dependency, and contribute to economic diversification
In his introductory comments, the ministry’s Permanent Secretary, Nura Rimi, emphasised the significance of team action and shared vision as outlined in the Nigerian Automotive Development Policy.
He also urged stakeholders that the country “will overcome obstacles and unleash the full potential of Nigeria’s automotive component sector.”
He encouraged NADDC and other stakeholders to use the chance to form alliances, explore new areas of collaboration, and devise ways to catapult the automotive components manufacturing industry to new heights of success.
The statement added, “The government’s charge underscores the pivotal role stakeholders play in shaping its trajectory. Their commitment to sustainable practices will drive Nigeria’s automotive sector towards a brighter and more prosperous future.
“Environmental Responsibility: Stakeholders are reminded of their environmental responsibilities. Sustainable practices, recycling, and eco-friendly manufacturing processes are essential for a greener future.”

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Waive Tax On Electronic Imports, Women Engineers Appeal To Tinubu

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The Association of Professional Women Engineers of Nigeria (APWEN), Lagos Chapter, has called on President Bola Tinubu to exempt the importation of electronic components from taxation for inventive engineers.
Chairman of APWEN, Ms Atinuke Owolabi, said this a in statement yesterday in Lagos, in commenration of the 2024 World Creativity and Innovation Day, with the theme: “Step Out and Innovate”.
The Tide source reports that World Creativity and Innovation Day is a global UN Day, celebrated on April 21, to raise awareness about the importance of creativity and innovation in problem solving.
This is with respect to advancing the United Nations’ sustainable development goals, also known as the global goal.
Owolabi explained that such a measure would significantly enhance technological progress, support local innovators, and elevate Nigeria as a leading hub for innovation globally.
She stated that in a world marked by dynamic challenges and unprecedented opportunities, creativity and innovation stand as the driving forces behind progress and transformation.
According to her, women engineers recognise the critical role that innovation plays in shaping our societies and driving sustainable development.
”On this occasion, we affirm our commitment to fostering a culture of creativity and innovation within our organisation and the broader engineering community.
”Together, let us step out, innovate, and inspire the next generation of women engineers to reach even greater heights of achievement and impact.
”We believe that by stepping out of our comfort zones and embracing new ideas, technologies, and approaches, we can unlock innovative solutions to the complex challenges facing our world today,” she said.
According to her, the theme: ‘step out and innovate’, serves as a call to action for women engineers everywhere to break barriers, challenge conventions.
She noted that it would also pioneer groundbreaking solutions that would propel them toward a brighter and more sustainable future.
Owolabi disclosed that in celebration of the World Creativity Day, APWEN Lagos had inaugurated an artificial intelligence club tailored for female engineering students and young engineers.
She said that the proactive initiative aimed to inspire and equip young engineers with cutting-edge technological insights.
Th chairman said, “Additionally, we already have a 200-capacity hall to set up a resource, technology, and innovation hub to empower women and girls in engineering.
”This endeavour serves as a catalyst for encouraging aspiring female engineers to embrace innovation and stay abreast of emerging trends in the field.
”APWEN Lagos stands united in its dedication to promoting diversity, inclusivity, and excellence in engineering.
“We encourage all female engineers to seize this opportunity to unleash their creativity, explore new frontiers, and make an indelible mark on the world.”

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Pan-Igbo Group Hails Dangote Group For Reducing Diesel Price

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A pan-Igbo group, Ndigbo Unity Forum (NUF), has commended the Chairman of the Dangote Group, Alhaji Aliko Dangote, and his management for reducing the price of diesel from N1,600 to N,1000 per litre.
The Tide’s source reports that diesel is the major fuel used by heavy duty vehicles and generating sets to transport goods as well as run industries across the country.
The President of NUF, Mr Augustine Chukwudum, told The Tide’s source in Enugu, yesterday, that Dangote’s timely response to suffering masses of Nigerians, going through hell to get a meal a day, “is highly commendable”.
According to Chukwudum, Nigerians need to appreciate the patriotism of Dangote since what he has done will go a long way in reducing prices of goods, especially food stuff which has gone out of the reach of the poor.
He called on Nigerians, who wish and pray always for the betterment of the country, to appreciate and thank God for answering their prayer through Dangote’s move.
“It is clear that if Dangote Refinery starts fully and gets all the crude oil needed from Nigeria, the prices of petrol, kerosene and diesel will further reduce.
“We commend President Bola Tinubu for being a listening President and supporting the Dangote Group on our crude oil needs.
“We appeal to Tinubu to encourage Dangote by providing the company with crude oil at a reduced rate as we have been demanding,” he said.
Chukwudum said that this move and subsequent further reduction, would bring industries in comatose back to life, jobs created for unemployed youths and reduction in crime as well.
“We call on governors of oil-producing Anambra, Imo and Abia States to bring investors, who shall build refineries in each of the states to refine thousands of barrels of crude in commercial quantities,” he said.

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