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Osinbajo Urges Caution On Africa’s Economic Sovereignty 

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Vice President Yemi Osinbajo says Africa’s developmental aspirations can be actualised by deepening cooperation and collaboration with the rest of the world.
Osinbajo stated this at the opening session of a panel on the ongoing Africa CEO Forum holding in Abidjan, Cote D’Ivoire.
In a statement signed by his spokesman, Laolu Akande, on Monday, Osinbajo stressed the importance of collaboration between Africa and the rest of the world, saying there is a need for caution on the issue of economic sovereignty.
Osinbajo said “I think that we have to be a bit more careful with the concept of economic sovereignty because we really need to collaborate more and with the way that development is going, we need to watch some of these things.
“For instance, if we look at the way that technology is going which is key for us in Nigeria, particularly issues of taxation of tech companies and all of that, it is evident that this is difficult and it is a major expression of sovereign power – the power to tax.
“The way that the world and technology are structured today, there is no way that you can use the same basis – personal and territorial basis for taxation.
“These are multinational enterprises that spread across countries and continents. We have got to cooperate with the world and the international tax system to ensure that we are able to derive maximum benefit; we have got to take a seat at the table and ensure that all of the various initiatives on international taxation favour us in Africa”.
According to the Vice President, while Africa is looking inwards, it has to be very careful to look outwards as well because a lot of money is obviously used by tech companies across the world and a lot of African countries are value creators for these companies.
He stressed the need for Africa to look inwards and at the same time keep its eyes on the ball and recognising that the world had gone beyond brick and mortar.
“The world is now more about intellectual capital. We have to think of how we can work with the world to achieve maximum benefit for our intellectual capacity”, he said.
During an interaction with organisers of the forum, the CEO of BUA Group, Alhaji Abdulsamad Rabiu, spoke about the concept of economic sovereignty, urging Africa to look inwards as a way of fast-tracking development on the continent.
He cited leveraging opportunities provided by the Africa Continental Free Trade Agreement (AfCFTA) and improving infrastructure as some of the key areas that leaders in the continent must focus on.

Earlier at the opening ceremony of the forum, President Alassane Ouattara of Cote d’Ivoire, commended the initiative of the organisers to bring together public and private sector leaders across the continent and beyond to discuss and develop new paths aimed at boosting the transformation of economies across Africa.

He said that though the COVID-19 pandemic might have negatively impacted growth projections in the continent, the vision of the forum and similar efforts were geared towards fruitful collaborations, “building new partnerships between the public and private sectors, especially providing opportunities for young Africans with particular focus on green economy.”

On his part, the President and Founder of the Africa CEO Forum, Amir Yahmed, commended leaders across the continent for their efforts despite the disruptions in the global economy occasioned by the COVID-19 pandemic and the Russian-Ukraine conflict.

Yahmed stated that the economic sovereignty, a green economy, industrial transformation among others were paths to Africa’s prosperity.

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VCDF in Partnership with LAWMA & Iru LCDA Conducts ‘Street Hygiene & Cleanliness’ Campaign in Lagos

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Living healthy lives can be enabled by embracing and maintaining cleanliness in our urban surroundings, we not only enhance the hygiene of our streets and drains but also contribute to mitigating the adverse effects of pollution and promoting a sustainable future for generations to come.

On April 6th, 2024, a community-driven initiative took to the streets of Victoria Island, Lagos, in a concerted effort to combat littering, blocked drains, thereby reducing flooding and the deteriorating cleanliness of the neighborhood. The Street Hygiene and Cleanliness Campaign, organized by the Vcare for Development Foundation (VCDF), in collaboration with Sterling Oil Exploration & Energy Production Co. Ltd. (SEEPCO), Iru-Victoria Island LCDA and Lagos State Waste Management Authority (LAWMA) saw an impressive turnout of volunteers and stakeholders determined to make a tangible difference in their environment.

The campaign aimed to promote cleanliness and environmental sustainability in Victoria Island, addressing issues like littering, improper waste disposal and consequent flooding. By providing donations of sanitation tools like rakes, pickers, brooms, and bin bags as well as personal protective equipment like coveralls and gloves, VCDF inspired volunteers and stakeholders to take proactive steps to stop the spread of disease, build community pride, and maintain a clean environment.

The dignitaries present at the event were Princess (Hon.) Rasheedat Abiodun Adu, Executive Chairperson, Iru-Victoria Island LCDA; Mrs. Ogabi Adetokunbo, Council Manager; Mr. S.O. Omoteji, Head of Human Resources, Mr. Odu Olufemi, Head of the Environment, all from Iru Victoria Island LCDA; Mrs. Aramide Olaniyan, Head of Corporate Engagement, Mr. Ebenezer Otubu, Deputy Head, Street Sanitation Services and Mr. Gbenga Adebayo Fagbola, Regional Manager, Lagos East 1, Lagos Waste Management Authority (LAWMA).

Beyond the immediate benefits of an immaculate surrounding, it has encouraged a culture of social responsibility among the workforce and promoted community unity.

Speaking at the event, Mr. Odu Olufemi said, ‘the VCDF initiative is praiseworthy, and maintaining effective sanitation practices is essential for ensuring a healthier Lagos State through recycling materials, segregating waste, desilting drainage systems, and clearing sidewalks for safety and easy access.’

Mrs. Aramide Olaniyan expressed, ‘together, we are not only cleaning streets but also spreading awareness about the value of environmental stewardship for a better tomorrow.’

VCDF is dedicated to embracing sustainability to protect healthy habitats and foster a culture of social responsibility, ensuring the welfare of current and future generations.

By coming together to tackle environmental challenges, residents and stakeholders demonstrated their commitment to creating a cleaner, safer, and more vibrant neighborhood for all.

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VCDF in Partnership with LDSVA Sensitise Women on Gender Equality, Financial Literacy & Entrepreneurship

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Women, the pillars of our society, are resilient and determined as they play essential roles in nurturing families and leading businesses. Despite facing challenges like limited financial resources and unequal opportunities, they persist, inspiring generations and driving positive change.

In honour of Women’s History Month, Vcare for Development Foundation (VCDF), in collaboration with Sterling Oil Exploration & Energy Production Co. Ltd. (SEEPCO) and the Lagos State Domestic and Sexual Violence Agency (LDSVA), embarked on a transformative journey to empower 100 community women, focusing on sexual and domestic violence prevention, financial literacy, and entrepreneurship, on March 27, 2024, in Eti-Osa LGA, Lagos State.

When women are empowered, they become catalysts for progress, influencing not only their own lives but also the lives of their families and those around them. The programme gave the women the opportunity to acquire knowledge on tools that can help their businesses grow, also providing a safe space for women to learn and connect with others, making them feel more confident and capable in making decisions for their businesses.

Distinguished guests present at the event were Mrs. Bello Oluwakemi, Head of the Field Operations Department, Lagos State Domestic and Sexual Violence Agency (LDSVA), Chief Mrs. Eletu-Odibo Wasilat, Community Development Committee Chairman of Eti-Osa LGA, Lagos State, and Mrs. Adenike Akintoye, Head of Women Affairs and Poverty Alleviation Unit, Eti Osa LGA.

While giving her feedback, Chief Mrs. Eletu-Odibo Wasilat said, “community-driven efforts like this initiative are instrumental in driving sustainable change and enabling women to realise their full potential.”

Mrs. Bello Oluwakemi noted during her closing remark, “training women in our communities will improve their livelihoods and contribute to household income, thereby leading to better standards of living.”

This collaborative initiative aligns with the Sustainable Development Goals (SDGs) – Gender Equality (SDG 5) and Reduced Inequalities (SDG 10), which aim to ensure everyone is treated equally and reduce differences between people.

VCDF will continue to educate and empower women for a greater inclusion in society, supporting their advancement and ensuring their meaningful participation in all spheres of life. Together, let us continue to champion the cause of women, celebrate their achievements, and pave the way for a brighter and more equitable future for all.

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Ibom Developers Supports 160 Women with Skill Acquisition Training in Akwa Ibom

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Empowering women with vocational skills is a vital step towards fostering gender equality and inclusive growth in society. This effort involves equipping women with practical expertise that can be applied across various aspects of life, including professional, personal, and entrepreneurial settings. Ibom Developers’ recent initiatives to provide skill acquisition training to women in its host communities aim to help them thrive in society.

On April 8, 2024, Ibom Developers commenced its ongoing skill acquisition training programme, themed ‘Virtuous Women’ in Egwenwe and Okoroinyong communities.
Dignitaries, including His Royal Highness Chief Johnson J. Osiba (Ijongo IV), the Okaama of Egwenwe Community; Mr. Warribo Isaiah, Community Development Chairman, Egwenwe Community; Pastor Johnson Christian Ubulom, Youth President, Egwenwe Community; Mrs. Catherine Monday Ogbofork, Women Leader of Egwenwe Community; Mrs. Sarah Evans Nfeija, Health Officer, Egwenwe Community; and representatives from Okoroinyong community, were present at the inaugural event.

This skill acquisition programme aims to empower 160 women in these communities with expertise in catering, packaging, hairdressing, wigging, ventilation, and styling. The program took place from April 8 to April 20, 2024, at Egwenwe Town Hall and Okoroinyong Town Hall in Eastern Obolo LGA, Akwa Ibom State, imparting essential entrepreneurial skills to the women in the communities.

During the inaugural event, Chief Johnson J. Osiba (Ijongo IV), the Okaama of Egwenwe Community, expressed, ‘‘This empowerment initiative will provide our women with the autonomy and decision-making power they need to become self-sufficient contributors to the growth and development of our community.’’

The participation of women in several economic activities makes their upliftment a potent strategy for economic growth. Their involvement expands the workforce, cultivating heightened innovation and efficiency within the community.

Mrs. Catherine Monday Ogbofork, Women Leader of Egwenwe Community, emphasised, “Access to training tailored to the needs of women allow them to develop specialised skills. I am glad that this programme has offered options that suit our women’s preferences and goals.’’

Acquiring skills for livelihood elevates family status and unlocks entrepreneurial avenues. Ibom Developers is dedicated to promoting entrepreneurship among women and supporting socio-economic empowerment in local communities.

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