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Dangote Proffers Solutions To Investors, Manufacturers Leaving Nigeria

The President, Dangote Industries Limited, Aliko Dangote, has identified solutions to sustaining existing local and foreign investments as well as attracting new investors into the country.
Dangote gave the solutions in a keynote speech delivered at the opening of a three-day Nigeria Manufacturers Summit with the theme,” Rethinking Manufacturing in Nigeria”.
The Tide’s source reports that the summit, held at the Banquet Hall, State House, Abuja, was declared open by Vice President Kashim Shettima.
The Africa richest man said, to arrest investors from leaving the country in droves and attract new ones, the Federal Government must initiate deliberate industrial policies that assure investors of support and protection
According to him, such policies are the greatest incentives for all existing investors, manufacturers, both local and foreign.
The industrialist also noted that foreign investors, manufacturers would be attracted only when they see that local investors are also doing well.
According to him, what attracts foreign investment is not when the President or any other government agencies go outside the country to seek for foreign investment.
“ I am recommending that government policies should support, protect existing industries so that others will know that their investments will also be protected.
“ Is there any better incentives than that ? I don’t think so.
“So, I humbly summit that an industrial policy that assures investors of support and protection is the greatest incentives for all investors both local and foreign,” he said.
Dangote also underscored the importance of stable and affordable power, as well accessible financing to sustaining and attracting investors and manufacturers.
He said stable, affordable power and access to finance by manufacturers and investors would guarantee growth, industrialisation and prosperity.
According to him, import dependent economy is equivalent to importing poverty and exporting jobs.
He further said that when government policies become more supportive and protective, investors would be more willing to collaborate and partner with government.
“ This will help in resolving others challenges such as infrastructure deficit, market instability and market economic issues such as inflation and foreign exchange volatility.
“However, ignoring all these facts is what give rise to insecurity, banditry, kidnappings and abject poverty in the land,” he said
On Bank loans to investors, Dangote said that the current 30 per cent interest rates is stifling growth and there is no way anybody can create jobs.
The business magnate, however, expressed the optimism that Nigeria has all it takes to develop and sustain a globally competitive manufacturing sector.
“To do so, we must rethink our industrialisation policy. We must look to leading countries in the West and the East who are actually protecting their domestic industries.
“We must similarly, introduce policies to protect our domestic industries and nurture them into home champions that will create the jobs and prosperity we desperately need.
“ The time to rethink our industrial policy is now,” Dangote said.
He reiterated that manufacturing remains the key driver in the nation’s quest to economic development and self sufficiency.
Dangote added that the strengths of a country’s manufacturing sector determines its capacity to compete in global trade.
Also speaking at the event, a former Minister of Industry, Trade and Investment, Olusegun Aganga, appealed to President Bola Tinubu to declare manufacturing, a national priority sector.
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I’m Committed To Community Dev – Ajinwo
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RSG Tasks Rural Dwellers On RAAMP …As Sensitization Team Visits Akulga, Degema, Three Others

Rivers State Head of Service, Dr (Mrs) Inyingi Brown, has called on rural communities in the State to embrace the Rural Access and Agricultural marketing project (RAAMP) with a view to improving their living conditions.
This follows the ongoing sensitization campaign by the State Project Implementation Unit (SPIU) visits to Degema, Abonnema, Afam headquarters of Degema, Akuku Toru and Oyigbo Etche and Omuma local government areas respectively.
Dr Brown who was represented by the Deputy Director, Special Duties in her office, Mrs Dein Akpanah, said RAAMP was initiated by the Federal Government and World Bank to economically empower rural dwellers.s
She said the World Bank understands the plights of rural farmers and traders in the State, and therefore came up with the programme to address them.
According to her, RAAMP will improve the conditions of farmers, traders and fishermen, and therefore, behoves on every rural communities in the State to embrace the programme.
The Head of Service also said the programme would support the youths to be gainfully employed while bridges and roads will be built to link farms and fishing settlements.
Also speaking, the State project coordinator, Mr Joshua Kpakol, said the programme has the potential of creating millionaires among farmers and fishermen in the State.
Kpakol who was represented by Engr. Sam Tombari, said RAAMP would help farmers and fishermen to preserve their produce.
According to him, the project will build cold rooms and Silos for preservation of crops and fishes while access roads will also be created to link farmers and fishermen to the market.
He, however, warned them against any act that will lead to the suspension of the projects by the World Bank.
Kpakol particularly warned against acts such as kidnapping, marching ground, gender based violence and child labour, adding that such acts if they occur may lead to the cancellation of the project by the World Bank.
During the visit to Oyigbo local government area, Mr Joshua Kpakol, said the team was there to let them know how they will benefit from the Raamp.
The coordinator who was personally at Oyigbo said the World Bank introduced the project to check food insecurity in the State.
He said already 19 states in Nigeria are already benefitting from the project and called on them to embrace the project.
Meanwhile, stakeholders in the three local government areas have commended the World Bank for including their areas in the project.
They, however, complained over the incessant attacks by pirates on their waterways.
At Degema, King Agolia of Ke kingdom said land was a major problem in the kingdom.
King Agolia represented by High Chief Alpheus Damiebi said many indigenes of the kingdom are willing to go into farming but are handicapped by lack of land.
Also at Degema, the representative of the Omu Onyam Ekeim of Usokun Degema kingdom, Osoabo Isaac, said Degema has embraced the programme but needed more information on the implementation of the programme.
Similarly, while High Chief Precious Abadi advised that the project should not be narrowed to only crop farming, a community women leader, Mrs Orikinge Eremabo Otto, called for the construction of cold rooms in all fishing settlements in the area.
At Abonnema, Mr Diamond Kio linked the problem of the area to incessant piracy along waterways.
He also expressed fears over the possibility of the project being hijacked by politicians.
Also at Abonnema, a stakeholder, Ikiriko Kelvin, called on the World Bank to design an agricultural project that will suit the riverine environment, while at Oyigbo, HRH Eze Boniface Akawo expressed satisfaction with the project.
John Bibor
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Senate Replaces Natasha As Committee Chairman

The political mudslinging between the Senate leadership and Senator Natasha Akpoti-Uduaghan continued yesterday as the Senate named Senator Aniekan Bassey as the new Chairman of the Committee on Diaspora and Non-Governmental Organisations.
Senate President, Godswill Akpabio, announced the appointment during yesterday’s plenary, confirming Bassey’s replacement of Senator Natasha Akpoti-Uduaghan, who is currently on suspension.
Akpoti-Uduaghan was reassigned to the Diaspora and NGOs Committee in February after she was removed as Chair of the Senate Committee on Local Content during a minor reshuffle.
Bassey is the senator representing Akwa Ibom North-East Senatorial District.
Although no reason was given for her removal yesterday, the change is believed to be connected to her unresolved suspension.
In May, Justice Binta Nyako of the Federal High Court ordered her reinstatement and directed her to tender an apology to the Senate.
However, the Senate has insisted it has not received a certified true copy of the court judgment.
Akpoti-Uduaghan who represents Kogi Central, has yet to resume her legislative duties despite a recent court ruling that voided her suspension.
In a televised interview on Tuesday, Akpoti-Uduaghan said she was awaiting the Certified True Copy of the judgment before officially returning to plenary, citing legal advice and respect for institutional process.
Although the Federal High Court described her suspension as “excessive and unconstitutional”, a legal opinion dated July 5 and attributed to the Senate’s counsel, Paul Daudu (SAN), argued that the ruling lacked any binding directive to enforce her reinstatement.
Akpoti-Uduaghan, one of only three female senators in the current assembly, said the continued delay in allowing her return was not only a denial of her mandate but also a blow to democratic representation.
“By keeping me out of the chambers, the Senate is not just silencing Kogi Central, it’s denying Nigerian women and children representation. We are only three female senators now, down from eight,” she said.