Connect with us

News

Jonathan Seeks More U.S. Investments In Nigeria …Wants Stiffer Sanctions Against Boko Haram

Published

on

President Goodluck Jonathan says the volume of trade between Nigeria and the United States will continue to grow with greater cooperation between the public and private sectors of both countries.
This is contained in a statement issued yesterday in Abuja by the Special Adviser to the President on Media and Publicity, Dr Reuben Abati.
It quoted Jonathan as saying this at a dinner held in his honour by the U.S. Chambers of Commerce (UCC) and the Corporate Council on Africa (CCA) in Washington DC.
According to the statement, the trade volume between both countries has risen to a record level of $36 billion  per annum.
The president welcomed the support of the Obama administration and both organisations for ongoing efforts to positively transform the Nigerian economy and make it one of the world’s 20 largest by 2020.
Jonathan said in the statement that the recent developments had shown that Obama was right when he spoke in September 2013 of increasing international recognition of Nigeria’s role in the global economy.
He, therefore, called for greater direct investment in Nigeria from the U.S.
“Our economy has since been re-based and it is now the largest in Africa. We are the 26th largest economy in the world and the largest trading partner of the U.S. in Africa.
“The latest figures show the volume of trade between Nigeria and the U.S. to be $36 billion and still counting.
“Between last year and now, we hosted the World Economic Forum on Africa which was attended by 1,000 participants from 70 countries.
“The forum attracted over $68 billion  in investment to the African continent in form of foreign direct investments as well as private and public investments,’’ the statement said.
The statement said all African countries were targeting projects that would foster the agriculture sector, improve infrastructure such as roads, railways, hospitals, education, skill development and ICT in the continent.
Jonathan, according to the statement, said that Nigeria remained the largest source of natural gas with large areas of unexploited fertile lands for agriculture.
According to the statement, Nigeria has a huge stock of untapped solid minerals.
“We will continue to make Nigeria an attractive destination for foreign investors through the constant implementation of our policy of creating an attractive and conducive climate for investors.
“The oil and gas industry remains Nigeria’s main source of revenue and foreign exchange earner, but we are working very hard to fully diversify the country’s economy.
“We will welcome greater support from the United States for its efforts to make other sectors of the Nigerian economy more productive,’’ the statement quoted Jonathan as saying.
Jonathan assured American investors that his administration was taking all necessary action to overcome the Boko Haram insurgency and achieve greater security of lives and property in all parts of Nigeria.
Meanwhile, President Goodluck Jonathan yesterday, in Washington DC made a case for more effective international sanctions against terrorist groups such as the dreaded Boko Haram sect.
He also sought similar fate for countries, organisations and individuals that sponsor terrorism in any part of the world.
According to a statement by his Special Adviser on Media and Publicity, Dr. Reuben Abati, the president made the call in his statement presented at the US-African Leaders Summit.
Jonathan was quoted as calling for more effective global action and implementation of all existing international protocols against terrorism and violent extremism.
He observed that some of the security problems being faced by Nigeria and other African countries were transnational in scope and could not be resolved by any country acting alone.
He said terrorism, piracy and transnational organised crimes had become global in scope, and so, greater regional and international collaboration was required to combat them.
He said, “several African countries, including Nigeria, are now challenged by terrorism and violent extremism. For several countries in the continent, terrorism has become a real threat to social progress, peace and security.
“The violent and criminal activities of Boko Haram in my country have captured the world’s attention. This has been especially so since the terrorist group abducted some girls from their school dormitory in the North-Eastern Nigeria in April.
“Nigeria may be the epicentre of Boko Haram terrorist activities at the moment, but its affiliation with international terrorist networks, dramatically increases its capacity and reach beyond Nigeria’s borders.
“Nigeria is doing everything possible to combat Boko Haram and violent extremism. While we continue to enhance our intelligence and military capacities, we are at the same time, working on political and socio-economic solutions. We are also building partnerships, both at the regional and international levels to combat the threat posed by terrorism in our sub-region.
“In this enterprise, we are pleased to acknowledge the supportive role of the United States. The assistance that we continue to receive from the United States and our other international partners is proof indeed that partnership can multiply our strengths in addressing common challenges.
“We call for an effective international sanctions regime that would hold accountable any country, institutions and individual that finances terrorism in any part of the world. This inaugural Africa-US Summit must also call for effective action and implementation of all existing international protocols on this critical issue.
“Because terrorism, piracy and transnational organised crimes are global in scope, greater regional and international collaboration is required to combat them. We must act in concert.”
According to the statement, the president had conveyed the same message at a bilateral meeting with Vice President Joe Biden on Tuesday.
He was quoted as saying at the meeting that Nigeria, the US and the global community must work with greater synergy and unity of purpose to overcome Boko Haram and other terrorist groups.

Continue Reading

News

FG Targets Production Of Locally Made Vehicles By Dec

Published

on

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.”

Continue Reading

News

Waive Tax On Electronic Imports, Women Engineers Appeal To Tinubu

Published

on

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.”

Continue Reading

News

Pan-Igbo Group Hails Dangote Group For Reducing Diesel Price

Published

on

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.

Continue Reading

Trending