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AfDB Mobilises $31bn Investment Interest

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3 years ago

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The African Development Bank (AfDB), has drawn $31billion in investment interest from African and global investors.
In a statement issued by the Communication and External Relations unit of the AfDB, President of the bank, Dr Akinwumi Adesina, said this at the 2022 Africa Investment Forum (AIF) Market Days.
The forum ended, last Friday.
Adesina commended the forum’s outcomes and the partners’ commitment.
“Despite the challenges, we are not afraid, and neither have we despaired nor lost hope.
“We are excited and committed to a collective goal; accelerating the closure of deals to transform Africa and its investment landscape.”
He said the AIF’s focus was to attract more foreign direct investment to Africa, and ensure the private sector remained the driving force of that transformation.
“The private sector is Africa’s growth accelerator. We must mitigate real and perceived risks and persuade the private sector that investing in Africa is safe,” Adesina said.
Combined with $32.8billion from the rescheduled 2021 Africa Investment Forum Market Days, the forum has mobilised a total of $63.8billion of investment interest in 2022.
Islamic Development Bank (IsDB) President, Dr Mohammed Al-Jasser, said the organisation was hopeful that its commitment to the AIF would translate into tangible and measurable outcomes for the benefit of Africa.
Al-Jasser said the IsDB Group was commitment to support transformative African projects, especially those promoting resilience, financial, economic, and social sustainability.
Furthermore, Trade and Development Bank Group President and Chief Executive,Admassu Tadesse, spoke on the value of the “AIF spirit” in doing more to advance and close investments.
Tadesse said: “Notwithstanding ongoing global crises, we have to keep our eye on the ball. We must continue to encourage and enable investment in agriculture and industry, as well as infrastructure.
“Growing our own food and manufacturing more will enable us to trade more. It will lead to less overall greenhouse gas emissions linked to imports from far away.
“In the process also generating more employment and opportunities for our people.”
Also, European Investment Bank President, Werner Hoyer, said the bank was excited to see how the creativity and vision of African innovators were making an impact.
Hoyer said: “Particularly in the area of technology which holds such great potential for Africa’s future”.
The Group Executive Origination and Coverage, Development Bank of Southern Africa, Mohan Vivekanandan, said a unique feature of the 2022 forum was that it focused on transactions.
“It’s about the project sponsors, the project developers and how we, as development financiers, help them get their vision implemented to improve the quality of life of Africans.
“And how we promote economic growth, job creation and industrialisation,” Vivekanandan said.
Africa Finance Corporation President and Chief Executive Officer (CEO), Samaila Zubairu said: “The current global economic challenges indicate the critical need to build Africa’s self-sufficiency by investing in resilient infrastructure.
“Such critical investment is needed to drive Africa’s industrialisation and economic prosperity.”
Moreover, Africa50 CEO, Alain Ebobisse, said the AIF presented a timely platform to help scale up and speed up investments into Africa.
Ebobisse said attracting new pools of capital into infrastructure would be critical.
“More specifically, Africa’s institutional investors such as pension and sovereign wealth funds must play a critical role and will be the game changers for Africa’s infrastructure development”, he said.
In addition, Afreximbank President, Benedict Oramah, said the AIF reflected the interest and optimism of global investors towards the continent and its opportunities.
“We close, knowing that the AIF, Africa’s largest transactional investment marketplace, continues to be a huge success.
“Moreover, the event serves as a measure of international confidence in Africa’s economic and political development, and the unmatched investment opportunities this is creating,” Oramah said.
On her part, the AIF Senior Director, Chinelo Anohu, said a lot of the successes recorded by the Africa Investment Forum were domiciled in the spirit of the partnership.
Anohu said it was up to the AIF to ensure the continent was “what it ought to be.”
The three-day event, which held in Abidjan, Côte d’Ivoire, attracted the participation of several African heads of states and government.
The event had as theme: “Building Economic Resilience through Sustainable Investments”.
The AIF platform has mobilised more than over $100billion in investment interests since its inception in 2018.

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Association Seeks Government Intervention in Desilting of Canal 

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2 days ago

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December 8, 2025

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The Rumuokania 2 New layout Landlords Association in the Obio/Akpor local government area of Rivers State is seeking the intervention of the Rivers State Government in the desilting of the canal which transverses several  communities including Mgbaraja,Ogbogoro,Egbule,Elioparanwo,Ozuoba and other communities in the area.
The Association which said this at a media briefing in Port Harcourt also lauded Governor Siminalayi Fubara for the construction of the Rumuoke/pipeline internal roads.
The landlords said the canal impede the free flow of water from the affected communities thereby causing severe flooding whenever it rains in the area.
The Association also commended the governor for the ongoing construction and rehabilitation of road across the state, adding, the gesture has not only rekindled hope of Rivers people for a better tomorrow,but has bought prosperity across communities in the state.
According to a Press release made available to news men during the briefing,”We are gathered here today to express immense appreciation to His Excellency, the Governor of Rivers State,Sir Fubara, GSSRS,for the construction of the Rumuoke/pipeline Internal roads.
“We also wish to use this medium to request the desilting of the Canal transversing the area and the construction of adjoining roads to the area.
“We acknowledge with profound gratitude the transformative governance going on in Rivers State under the purposely and impactful leadership of Governor Fubara.
“The visible impact of his administration across all sectors, particularly the rehabilitation and construction of new roads,has rekindled hope among the people and brought prosperity to our communities”The Association said.
The landlords particularly praised the Governor for the successful  completion of  the  Rumuoke Road from Okilton junction off Ada George Road to Road 9-2nd & 3rd Avenue, Road 10-2nd Avenue and 3rd Avenue, and Pipeline Road upto the canal, expertly executed by Monier Construction Company (MCC).
They noted that,prior to the intervention of the Governor,the road was in an extremely deplorable state, impassable, and prone to flash floods whenever it rains.
“Most houses and business premises were often flooded as people could hardly leave or access the area,while economic activities were completely paralyzed.
“The newly constructed internal roads have completely eased traffic in the area, boosted economic activities, and improved the quality of life of residents of Rumuokania and Rumuoke communities”
The release which was jointly signed by pastor Joel Gbandi, chairman of The Association and Lucky Ashley Atiegoba secretary,on behalf of the Landlords also expressed gratitude to the Governor for the  construction of all internal roads in the area.
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It however drew the , attention of the Governor to an emerging issue which they said poses  threat to the durability of this critical road infrastructure.
According to the landlords,”at the terminus of the newly constructed pipeline road, the adjoining canal is severely blocked, impeding the free flow of water .
“The canal serves as a vital waterway, traversing several communities, including Rumuokania, Mgbraja, Ogbogoro, Egbelu, Elioparanwo, Mini-Orlu, Rumue-vorlu, Rumuokwachi, Ozuoba, Iwofe, Rumuolumeni, Rumuepirikom, and Mini-kete, among other communities.
“This obstruction has caused water to back up onto the surface of the newly constructed road, leading to accelerated erosion and hazardous conditions for surrounding buildings, motorists, and pedestrians alike within RumuokaniaRumuoke communities.
“It is against this backdrop that we respectfully request the kind intervention of our dear Governor in this regard:
” We humbly request the desilting of the canal to restore proper drainage and prevent water overflowonto the newly constructed internal roads and flooding within the communities.
“. We also request the construction of adjoining roads to the area to provide alternative pathways and improve overall accessibility in the area.
“Addressing these germane concerns will not only safeguard the investment of the state government in road infrastructure in the area but will also mitigate flooding, enhance safety, and further elevate the living standards of residents of Rumuokania and Rumuoke communities”the landlords said.
By: John Bibor
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Rivers Judges Begin Christmas Vacation Dec 23

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2 days ago

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December 8, 2025

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Judges of the High Courts of Rivers State will proceed on this year’s Christmas and New Year vacations on Tuesday, 23rd December 2025.

This was contained in a statement signed by the Registrar, State High Court, David Ihua-Maduenyi, on behalf of the Chief Judge of the State, Justice Chibuzor Amadi, and made available to newsmen over the weekend.

The statement stated that judges will commence the yuletide vacation from Tuesday, 23rd of December 2025, and resume on Monday, January 12, 2026.

According to the statement, the directive is in compliance with the provision of Order 49 Rule 4(C) of the High Court of Rivers State Civil Procedure Rule, 2023.

The statement added that during the period of the vacation, all judicial divisions of the High Court of the State shall remain closed, while a vacation judge shall be designated to entertain only urgent applications and matters filed during the vacation.

 By: Akujobi Amadi 

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Govt-Approved Land Authority Emerges In Alesa To End Land Grabbing

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2 days ago

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December 8, 2025

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Land grabbing and crisis of fraudulent land sales may soon be a thing of the past as Rivers State begins experimenting the community land development committee system.

The experiment saw the light of day in Alesa Eleme where the Alesa Land Development Commiittee (ALDEC) was inaugurated last Friday by the paramount ruler of Alesa, Emperor J.D. Mkpe.

The Alesa community where the Port Harcourt refineries are situated has implemented the recommended formula with the strong support of the paramount ruler said to be a respected leader known for his commitment to peace, education, community development, and support for law enforcement, often advocating for better infrastructure and governance in his area.

 

Inaugurating the committee headed by a businessman, Mr. Emmanuel Olaka, the paramount ruler recounted the contributions of his community to economic development of the nation.

 

“Alesa is one of the 10 communities in Eleme and we are the first community in Nigeria that has refineries. The Port Harcourt Refinery (1&2) that has a lot of pipelines surrounding us. We have done a lot of contribution in making sure Nigeria stands great among all nations.

 

“We are made up of about 13 communities due to expansion. When I say 13 communities, Alesa is a community that has embraced other people. You can see here some people from the northern community. All the communities are here. That is why Alesa is known as a cosmopolitan community.

 

“Because we have got a lot of information about sale of land, and because we now have a situation whereby other persons will go into another person’s land and sell without the owner’s notice. We have also got information about minors who are not qualified to sell landed property, now selling land without letting their elders know.

 

“And that is why today, we are going to inaugurate a land development committee whose duty is to see into all these issues and bring up report about them. This will make both buyers and sellers feel very free in Alesa.

 

“We seize this opportunity to warn thus: if you sell any land to anybody without this committee’s knowledge or consent, you are doing it at your own risk. If you are buying any land from Alesa, this committee will know. By this, we will track those selling the land to you so that you don’t buy land from a wrong person. We also do not want you to buy land from an under-aged persons (children) who will sell land and run away.

 

According to him, we are also partnering with the Rivers State government on the project because those who buy land in Alesa with due process would be backed all the way to acquisition of certificate of occupancy (CofO).

 

“We are duly registered and we hereby show the world our certificate of registration and recognition. This is not a shabby arrangement. We have the registration and the authority which we have here as a body approved by the government to go into this development. This also is the registered constitution of the body.

 

 

“We will also make sure that whatever land you buy here, will be registered with the government of Rivers State through the office of the Surveyor-General and the Ministry of Land and that of Housing. This is to permanently stop land grabbers,

 

“We want you to buy and develop, not to keep for decades. Failure to develop your land after five years, the land will be forfeited to the government of Rivers State as a ‘waste land’ that you do not want to develop. So we are here not to maltreat any individual, we are not here to punish anyone, but to make sure your money is safe.

 

“We are optimistic that this strategy will work for us all. One of the greatest persons who has been able to identify with us is the Mayor of Housing. He has been friendly to us and to our aspirations.

 

Speaking immediately after the inauguration, the chairman of Alesa Land Development Committee, Mr. Emmanuel Olaka, vowed never to betray his community.

 

“I want to extend my sincere appreciation to the Alesa Council of Chiefs, the women, the youths, for nominating me to be the chairman of the Alesa Land Development Committee. I want to say this afternoon that I, Emmanuel Olaka, a bonafide son of Alaka, from Uwueke community, I will never disrespect this community. I will always do what is right, so that my God will always stand by me. I will not be biased.”

 

Also speaking, the Mayor of Housing, My-ACE China, who is behind the Alesa Sustainable Green Smart City, commended the community for leading the way and the war against land grabbing and land fraud.

 

He said the development would augur well for the green city being initiated in the area and other projects coming to Alesa.

 

He urged other communities in Rivers State and beyond to move fast and inaugurate such committees to put an end to land grabbing.

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