News From Nigeria
President Bola Ahmed Tinubu’s historic victory and assumption of office on May 29, 2023, marked a significant turning point in Nigeria’s democratic journey. His commitment to democracy and visionary leadership, encapsulated in the 8-Point Renewed Hope Agenda, have inspired confidence and trust among Nigerians, promising a new era of hope and transformation.
Economic Rebirth: Facing economic turmoil, widespread poverty, and rising unemployment, President Tinubu implemented bold reforms to stabilise the economy. The withdrawal of the unsustainable fuel subsidy and the unification of the FOREX market were pivotal steps, redirecting funds to critical sectors like healthcare, education, and infrastructure. These measures have reduced petrol importation by 50% and boosted investor confidence, making the Nigerian Stock Exchange the top-performing bourse globally.
Strengthening National Security: President Tinubu has prioritised national security, leading to significant investments in modernising and equipping the nation’s security forces. Over 4,600 hostages have been freed, more than 9,300 hostiles neutralized, and over 7,000 terrorists and bandits arrested. Establishing the N50 billion Pulako Initiative and annually recruiting 30,000 new police personnel further underscore the administration’s commitment to a safer Nigeria.
Boosting Agriculture and Food Security: To tackle food security, the administration declared a state of emergency and launched the National Agricultural Development Fund with N100 billion. Initiatives like the Dry Season Farming Initiative and the Green Imperative Programme aim to promote year-round farming and provide farmers with access to modern equipment and low-interest loans, ensuring a stable food supply.
Unlocking Energy and Natural Resources: The Renewed Hope Agenda focuses on developing renewable energy sources and enhancing the efficiency of the oil and gas sector. Policy directives have improved the investment climate, increased crude oil and NLNG production, and initiated significant projects like rehabilitating the Port Harcourt refinery and constructing the Ajaokuta-Abuja-Kano Gas Pipeline.
Transforming Infrastructure and Transportation: Significant investments in infrastructure are underway, including operationalising the Port Harcourt-Aba rail line and constructing the Lagos-Calabar Super Highway. The Renewed Hope Infrastructure Development Fund aims to raise N20 trillion to deliver critical projects and modernise ports and aviation facilities, creating an enabling environment for businesses.
Improving Education, Health, and Social Investment: The administration is expanding primary health centres and upgrading tertiary hospitals, ensuring better access to healthcare. The Student Loans Act 2024 and the establishment of the Nigerian Education Loan Fund highlight a commitment to broadening access to education. Social welfare schemes, including cash transfers and microcredit programmes, aim to uplift vulnerable households and support small businesses.
Accelerated Diversification through Youth-Driven Industrialization, Digitization, and Innovation: Recognising the youth as invaluable assets, the administration has launched initiatives like the Three Million Technical Talent Initiative and the iDICE Programme to empower young Nigerians with digital skills. The National Job Centre and the National Talent Programme aim to create employment opportunities and support youth-owned enterprises.
Improved Governance for Effective Service Delivery: To enhance service delivery, the administration has introduced the MOBILIZER app for citizen engagement and launched the Citizens’ Delivery Tracker App to assess public officials’ performance. Reforms recommended by the Oronsaye Report aim to rationalise and restructure government agencies, increasing transparency and efficiency.
Conclusion: The Renewed Hope Agenda is a comprehensive strategy driving Nigeria towards sustainable development and improved quality of life. President Tinubu’s administration is laying the foundation for lasting progress and a brighter future for all Nigerians through strategic investments, youth empowerment, and improved governance.
STATE HOUSE PRESS RELEASE
PRESIDENT TINUBU TO EXXONMOBIL EXECUTIVES: EXECUTIVE ORDERS ON OIL AND GAS REFORMS WILL MAKE NIGERIA GLOBALLY COMPETITIVE
President Bola Tinubu, on Tuesday in Abuja, said the three Executive Orders on oil and gas reforms, which he signed, will make Nigeria’s petroleum sector globally competitive.
The President made the affirmation during a meeting with a delegation from ExxonMobil Upstream Company, led by its President, Liam Mallon.
He emphasized that these reforms will ensure that no oil company faces undue challenges in the country.
The three Executive Orders, which became effective from February 28, 2024, are: Oil and Gas Companies (Tax Incentives, Exemption, Remission, etc.) Order, 2024; Presidential Directive on Local Content Compliance Requirements, 2024; and the Presidential Directive on Reduction of Petroleum Sector Contracting Costs and Timelines.
President Tinubu also assured the ExxonMobil delegation that the federal government is committed to resolving the divestment issues between the company and Seplat Energy, which are currently under litigation.
“We have been pushing for closure on divestment issues, and I believe the other party, Seplat, is open to this,” the President said.
The President commended the company for its show of commitment to environmental protection in Nigeria, noting its efforts in reducing gas flaring in the country.
“Nigeria is going through a lot of reforms, and we have been navigating the leadership quarters carefully to ensure that we achieve a win-win situation for all parties and attract more investments,” President Tinubu said.
The President described ExxonMobil as a worthy partner in Nigeria’s development over the decades and urged the company to remain committed to contributing to the success of his administration.
“We are close enough to be fair and blunt with you, and we are not afraid to hear from you on better options and recommendations for the growth of the industry in Nigeria,” the President said.
The meeting, also attended by Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil), and Ekperikpe Ekpo, Minister of State for Petroleum Resources (Gas), discussed issues such as divestment, decommissioning, and abandonment as regards the company.
“Mr. President has given a clear directive to the NNPC GCEO and I to resolve the issue of divestment, and we are doing whatever we can to achieve that,” Lokpobiri stated.
On decommissioning and abandonment in the oil industry, Lokpobiri noted that the ministry is addressing the matter in line with the Petroleum Industry Act (PIA) and global best practices.
“The reforms driven by the three Executive Orders will ensure that companies operating in Nigeria have the best environment to continue making their investments and that no company will seek to leave Nigeria,” the Minister said.
Liam Mallon, the President of ExxonMobil Upstream Company, expressed his appreciation for the support and reassurances provided by the Nigerian government and pledged the company’s long-term commitment to the country’s energy sector.
He also commended President Tinubu for his courage and conviction to undertake bold reforms within his first year in office.
Chief Ajuri Ngelale
Special Adviser to the President
(Media & Publicity)
May 28, 2024
STATE HOUSE PRESS RELEASE
NIGERIA IS AN IMPORTANT BUSINESS DESTINATION FOR TODAY AND THE FUTURE, SAYS RECKITT BENCKISER AS PRESIDENT TINUBU RECEIVES DELEGATION
President Bola Tinubu, on Tuesday in Abuja, received assurances from Reckitt Benckiser, the global fast-moving consumer goods company, that they will continue to grow their investments in Nigeria.
Receiving a delegation from Reckitt Benckiser led by the Chief Executive Officer, Mr. Kris Licht, and Chief Olu Falomo, Chairman of Reckitt Benckiser Nigeria Limited, the President lauded the company for its over 60 years of investment in Nigeria and commitment to the country’s development.
”We are creating an environment for the private sector to thrive in. I am glad that you are here to stay for the long term. I am happy that you have been in the country for many years, and you have decided to invest more. We have embarked on challenging reforms to improve the economy. Our reforms will improve the ease of doing business for partners like you moving forward,” the President told the delegation.
President Tinubu assured investors of good returns on their investments, supported by a buoyant market and a large population.
In his remarks, Mr. Licht described Nigeria as a very important country to the company, saying: ‘‘We have had very good business here for many years, and we congratulate you on your first year in office. We see Nigeria as an important business destination for today and the future.’’
Chief Falomo, Chairman of Reckitt Benckiser Nigeria Limited, reiterated the company’s long standing commitment to Nigeria, stating: ‘‘We have asked our global team to come and assure you that we back your efforts. They have said they are not going anywhere. We are here to support this government.’’
Chief Ajuri Ngelale
Special Adviser to the President
(Media & Publicity)
May 28, 2024
Natufe to Tinubu: It makes no sense to concentrate Nigeria’s import-export business in Lagos seaports
President General of Okpe Union, Prof Igho Natufe has expressed concern about the concentration of seaports in Lagos.
‘’From the perspective of the Okpe Nation and the Niger Delta region, the concentration of seaports around Lagos grants overwhelming power to the Yoruba and the entire South West region of Nigeria’’.
Natufe spoke at the 94th anniversary of the Okpe Union in Lagos.
‘’It is baffling that imports from Asian countries are directed to Lagos ports, when Calabar, Port Harcourt, Sapele, and Warri seaports are closer to Asia than Lagos. This phenomenon clearly demonstrates an over balance of power problematic which we need to address in Nigeria, if restructuring is to be taken seriously’’.
He charged President Bola Tinubu to revive Sapele, Calabar, Koko, Port Harcourt, and Warri ports.
‘’Sapele seaport, a natural seaport, which was second to Lagos before the military coup of January 15, 1966, has been completely abandoned, while Calabar, Koko, Port Harcourt, and Warri seaports have been left to rot, and severely underutilized.
He lamented the concentration of seaports in the South-West geo-political zone.
‘’While political leaders of the Yoruba Nation have used their access to power to monopolize the concentration of seaports in their region, it must be stressed that this monopoly has caused a grave disequilibrium in access to power on the distribution of seaports in the Niger Delta region, including the Sapele seaport. It makes no sense to concentrate Nigeria’s import-export business in only the Lagos seaports.
The renowned scholar, activist and author described the performance of Okpe politicians as poor.
‘’It must be acknowledged that, since the establishment of Delta State in 1991, Okpe political leaders have performed very poorly in attracting businesses to Okpe Nation. Their access to power has not led to infrastructural development in Okpe Nation, compared for example, the achievements of Isoko political leaders in Isoko Nation. In fact, the Isoko Nation has debunked the argument that you need a governor of your ethnic nationality to develop your region. The Isoko political and traditional leaders conscientiously utilize their access to power to benefit their constituencies while, sadly, their Okpe counterparts are primarily concerned about their respective pockets’’
He listed the plans of the Okpe Union towards repositioning the Okpe Nation. .
‘’Okpe Union shall continue its advocacy of investments in Okpe Nation, including reaching out to the Delta State Government on this important subject. We shall intensify our lobbying of both the Federal and State governments to ensure the revival of Sapele seaport and the attraction of industries to Okpe Nation. We shall utilize the extensive experience of Okpe nationals, especially those in the Diaspora, to identify prospective investors to invest in Okpe Nation, under the framework of a public-private partnership (PPP)’’
To address the worrisome situation in Delta State, Natufe urged Governor Sheriff Oborevwori to improve the infrastructural deficits in Delta State, especially in Okpe Nation, make the environment attractive to foreign and domestic investors.
‘’An environment where an investor has to provide electricity, water, and good roads is hardly conducive for economic growth and development’’.
He underscored that Okpe Union must continue to instil positive change in Okpe Nation, by liaising with other Okpe organizations on the strategies for development.
The former university don also spoke on banditry, terrorism and kidnapping.
‘’The fragility of the Nigerian state is aggravated by the insecurity in the country. We call on the federal government to take immediate actions to evacuate Fulani herdsmen, bandits and terrorists from the territories of the indigenous ethnic nationalities across Nigeria. While we advocate for the unity of Nigeria, we strongly believe that the unity can only be strengthened if it is anchored on the principles of justice, fairness and equity, serving the interests of the indigenous ethnic nationalities in the country’’.
He mentioned other ways of addressing the country’s challenges.
‘’We are facing an existential crisis in Nigeria. A resolution of this crisis requires inputs from all indigenous ethnic nationalities at a round table conference, if the National Assembly proves incapable of producing a renewed federalism of the 1963 variant. If not properly handled, the current crisis can lead to unwanted confrontations between ethnic nationalities with severe consequences for Nigeria. It is on record that the Hausas have given the Fulanis an ultimatum to vacate their territories’’.
Natufe also expressed the commitment of the Okpe Nation to work with other ethnic nationalities in restructuring the Nigerian edifice to guarantee the safety of all indigenous ethnic nationalities, on the basis of justice, fairness and equity.
‘’We, Okpe, have no secessionist intentions. But, we recognize that the Nigerian edifice is cracked and haemorrhaging. We are committed to working with other ethnic nationalities in restructuring the Nigerian edifice to guarantee the safety of all indigenous ethnic nationalities, on the basis of justice, fairness and equity, where our rights are recognized and protected under a renewed federal constitution. However, if by omission or commission, the Nigerian edifice disintegrates, we pray it is via the velvet model of Czechoslovakia and not via the Yugoslav variant’’.