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$2.5bn Returnees’ Investments Set For Rivers
The African Diaspora Development Institute (ADDI) and a Nigerian firm, International Property Investment and Development (IPIAD), have embarked on a journey to bring back home descendants of Africans that were sold into slavery all over the world.
To this end, plans are on the way to develop a $2.5billion-5-star mixed-use business, leisure and historical destination resort city project in Rivers State.
The project being championed by IPIAD, a historical tourism development firm, ADDI and other foreign partners is aim to attract back home African Americans who want to relocate to Nigeria or re-discover their ancestral roots, families, kingdoms and villages in Nigeria.
In a statement, yesterday in Abuja, after a visit of President of ADDI recently in Lagos, IPIAD’s President, Prince Kalada William-Jumbo, said the first phase of the proposed TUSONDEL City project was estimated to cost $2.5billion and over a period of 10 years expected to attract investments of around $10billion.
William-Jumbo noted that African Diaspora Development Institute (ADDI) recently concluded a successful ground breaking ceremony of a similar project referred to as “Wakanda City of return” in Cape Coast, Ghana which attracted a lot of Africans in the Diaspora to come back home to Ghana/Africa.
On the choice of Rivers State as the location, William-Jumbo who is also a member of the ADDI advisory board said “Bonny Kingdom is one of the oldest, richest and most famous of all the Kingdoms in the region and like its land, its history is also very rich and old, but not without controversy and pain.
“Historically, Bonny Kingdom was a major strategic trading and economic hub hundreds of years ago. A centre for learning, commerce and trade, and still is till this day. At the peak of Bonny Kingdom’s reign, between the 19th – early 20th century, the people of Bonny and the extended Niger Delta kingdoms in general, also participated in the dreadful but at that time, very lucrative business of slave trading.
“When slavery was finally abolished by the British, Bonny Kingdom and other slave trading kingdoms began a journey of decline and eventually fell. Majority of the slaves that were sold and shipped off to North America especially the USA, were sold and shipped off from Bonny Kingdom.”
While calling on the Rivers State Government to support and invest in the project, the statement said: “The first phase of our planned TUSONDEL City project is estimated to cost $2.5billion and over a period of 10 years is expected to attract investments of around $10billion.
“When completed the TUSONDEL City project will boost economic and business activities around and beyond the Armpit of Africa, create thousands of new jobs and businesses, promote tourism, economic and leisure activities in Finima, the Bonny Kingdom area, the extended Niger Delta area and Nigeria in general for both Nigerians and foreigners alike.
“Nigeria and Nigerians stand to gain enormously from the wealth of experience our African brothers, sisters and children in the Diaspora possess. They really want to come back home to visit, at least once, so as to enable them decide on relocation plans, to trace their ancestral homes and families, obtain a 2nd citizenship, start a new Life, Invest in Africa, train their fellow Africans and create lots of jobs/business opportunities.
“We’re also looking for kingdoms families towns villages and people whose ancestors were directly or indirectly involved in the Slave Trade for Forgiveness and Re-unification Prayers which will foster in a new era of Prosperity Peace Love Unity and Freedom.
“We plan to formally meet the Governor of Rivers State so as to partner with us, Rivers State Government and the good people of Finima, Bonny Kingdom as equity stake partners in this laudable joint development of our proposed Lost City of TUSONDEL Project by providing us with approximately 2,500 hectares of project land for the project site at Finima and expedite all necessary approvals/support.”
The Federal Government Staff Housing Loans Board says it has begun the compilation of list of retired civil servants who have defaulted on the full repayment of housing loans obtained.
Head of Information and Public Relations, FGSHLB, Mrs Ngozi Obiechina, disclosed this in a statement in Abuja, yesterday.
Obiechina quoted the Executive Secretary of the Board, Mrs Salamatu Ahmed, as saying that the move was aimed at recovering mortgaged properties from retirees who failed to meet their loan obligations.
Ahmed noted that the decision followed a recent memo issued by Mrs Patience Oyekunle, Permanent Secretary, Career Management Office, Office of the Head of the Civil Service of the Federation.
According to her, the memo reminded public servants of the mandatory requirement to obtain a Certificate of Non-Indebtedness to the FGSHLB and MDA Staff Multipurpose Cooperative Society as a precondition for retirement.
The Executive Secretary said that the board would take necessary legal steps to repossess properties where applicable, in line with the terms of the loan agreements.
She said this was in line with the provisions of the Public Service Rules 021002 (p), issued by the Office of the Head of the Civil Service of the Federation.
“I am directed to bring to your attention the provision of Public Service Rule (PSR) 021002 (p), which mandates all public servants to obtain a Certificate of Non-Indebtedness as a prerequisite for retirement.
“The Federal Government will commence the seizure of mortgaged properties belonging to retiring federal public servants who have failed to fully repay housing loans obtained from the board,” she said.
Ahmed explained that the FGSHLB reserves the legal right to repossess any mortgaged property in cases where a public servant exits service without fully repaying the loan.
She reiterated that the directive also applied to already retired officers who were still indebted.
She urged all affected public servants to regularise their loan status and obtain the required clearance certificate without delay.
“The board is currently compiling a list of such retirees, which will be forwarded to relevant regulatory agencies for debt recovery.
“The FGSHLB remains committed to enforcing compliance and ensuring proper loan recovery procedures are followed, “ she added.
The Federal Government has kicked off a three-day induction programme for newly appointed Permanent Secretaries and the Accountant-General of the Federation, aimed at equipping them for strategic leadership and effective policy implementation.
The induction, according to a statement yesterday by the Director, Information and Public Relations, Federal Ministry of Information and National Orientation, Eno Olotu, which commenced on Wednesday, is being held at the National Counter Terrorism Centre in Abuja.
Speaking at the opening session, the Head of the Civil Service of the Federation, Mrs. Didi Esther Walson-Jack, congratulated the new appointees and described their roles as pivotal to governance and national development.
“Permanent Secretaries are the engine room of the government. They are critical to driving policy implementation, institutional performance, and reform across the service”, she said.
The Federal Government has kicked off a three-day induction programme for newly appointed Permanent Secretaries and the Accountant-General of the Federation, aimed at equipping them for strategic leadership and effective policy implementation.
The induction, according to a statement yesterday by the Director, Information and Public Relations, Federal Ministry of Information and National Orientation, Eno Olotu, which commenced on Wednesday, is being held at the National Counter Terrorism Centre in Abuja.
Speaking at the opening session, the Head of the Civil Service of the Federation, Mrs. Didi Esther Walson-Jack, congratulated the new appointees and described their roles as pivotal to governance and national development.
“Permanent Secretaries are the engine room of the government. They are critical to driving policy implementation, institutional performance, and reform across the service”, she said.
“The expectations are high, and the responsibility is immense. But with commitment and teamwork, we can deliver a more efficient, accountable, and citizen-centred public service.
“This final lap of FCSSIP 25 calls for urgency, accountability, and strategic focus. You must translate vision into measurable results,” she stated.
In her welcome address, the Permanent Secretary, Career Management Office, Mrs. Fatima Sugra Tabi’a Mahmood, described the programme as a strategic investment in leadership capacity and institutional effectiveness.
The sessions featured expert-led discussions, simulations, and strategic briefings facilitated by a distinguished faculty, including Engr. Suleiman Adamu, former Minister of Water Resources; Dr. Hadiza Bala Usman, Special Adviser to the President on Policy and Coordination; Mrs. Beatrice Jedy-Agba, Solicitor-General of the Federation and Permanent Secretary, Federal Ministry of Justice; Alh. Yusuf Addy, retired Federal Director; Alhaji Bukar Goni Aji, former Head of the Civil Service of the Federation; Amb. Mustapha Lawal Suleiman, Mr. Adesola Olusade, and Dr. Ifeoma Anagbogu, all retired Permanent Secretaries.
Participants include Dr. Obi Emeka Vitalis, Mrs. Fatima Sugra Tabi’a Mahmood, Mr. Danjuma Mohammed Sanusi, Mr. Olusanya Olubunmi, Dr. Keshinro Maryam Ismaila, Dr. Akujobi Chinyere Ijeoma, Dr. Umobong Emanso Okop, Dr. Isokpunwu Christopher Osaruwanmwen, Mrs. Oyekunle N. Patience, Dr. Kalba U. Danjuma, Mr. Nadungu Gagare, Mr. Onwusoro I. Maduka, Dr. Usman Salihu Aminu, Mr. Ogbodo Chinasa Nnam, Mr. Ndiomu Ebiogeh Philip, Dr. Anuma N. Ogbonnaya, Mr. Adeladan Rafiu Olaninre, and Mr. Mukhtar Yawale Muhammed, alongside the Accountant-General of the Federation, Mr. Shamseldeen Babatunde Ogunjimi.
The induction programme will feature sessions on public sector leadership, policy delivery, ethics in service, digital transformation, and performance management.
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has announced that a forensic audit of the Nigerian National Petroleum Company Limited (NNPCL) will begin soon.
Edun revealed this at the ongoing Nigerian Investor Forum, held alongside the IMF/World Bank Spring Meetings in Washington DC.
The minister explained that the recent changes in the NNPCL management are part of a broader effort by the Federal Government to clean up and examine the company closely.
While addressing top global investors, including representatives from J.P. Morgan, Edun shared key reforms the government has introduced to revive the economy and restore investor confidence.
He told the investors that the government’s bold economic steps have laid a strong foundation to attract private investment.
He stated, “Our goal is not just to maintain this momentum, but to accelerate it. We are targeting seven per cent annual growth, and we believe the policies we have implemented have laid the groundwork to achieve this.”
Edun highlighted that President Bola Tinubu’s administration has rolled out major reforms that are already making a difference.
He added that the Nigerian economy grew by 3.84 per cent in the fourth quarter of 2024 and recorded a 3.4 per cent growth for the year.
Edun further stressed the importance of the reforms, describing them as “unprecedented,” adding that, “We said we would do it, and now we have done it. This time, we’re staying the course.”
He pointed out signs of progress such as lower budget deficits, a better trade balance, and a more stable exchange rate.
He also said that the focus is now on growing key sectors, especially agriculture.
According to Edun, agriculture is at the top of the government’s agenda, with the aim of improving food supply and increasing productivity.
“We aim to close the food supply gap, not by importing more, but by enabling domestic producers to scale and innovate,” he said.
On infrastructure, Edun revealed that the government has rolled out 90,000km of fibre optic cable to improve internet access.
He said this move is crucial for supporting young Nigerians and tech startups.
He also noted that 4,000km of roads have been offered for private sector participation, with the first 1,000km already approved for construction.