Business
FTZ Dev: Oyo Secures $5bn Commitment From China
Governor Abiola Ajimobi of Oyo State has stated that his administration has secured the commitment of five billion dollars from China in the development of the newly established Free Trade Zone(FTZ) in the state.
The governor made the disclosure while receiving an Industrial Policy and Strategic Document from a delegation of United Nations Industrial Development Organisation (UNIDO) in Ibadan.
The Tide source reports that the UNIDO team was led by Mr Jean Bakole, representative to ECOWAS and Regional Director, Nigeria Regional Office Hub.
The Tide source reports that the Industrial Policy Document was developed by Oyo State Government with the approval and collaboration of UNIDO.
Ajimobi said the establishment of the FTZ was part of his administration’s determination to make the state an industrial hub of the nation.
Ajimobi said that no fewer than 150 investors from China had signified their intention to invest in the FTZ out of which seven of them have already began work at the FTZ site.
“Our administration has not relented in its efforts at infrastructural development of the state, creation of jobs for the youths, revenue growth and the protection of well-being of the citizenry.
“We have evolved several initiatives in all the various sectors of governance and which have been yielding desired results,” he said.
He said that the administration’s commitment to industrialisation was evident in a recent ranking, which placed the state as one of the safest and conducive for doing business.
Ajimobi said that his administration was currently using agriculture as a platform of the state’s industrialisation, adding the state was now seen as the centre of industrial revolution.
He commended UNIDO for selecting the state as the first beneficiary of its collaboration in Nigeria, promising the opportunity would be fully and judiciously utilized.
The State Commissioner for Trade, Investment and Cooperatives Mrs Taibat Adeyemi-Agaba, said that the document would, on implementation, be the best in the South West region of the country, having considered contributions from internal and external stakeholders.
Earlier, Bakole commended the transformation efforts of the Ajimobi-led administration in the state, adding they are in the state to support government efforts through effective collaboration.
“Our main job is to support economic growth and transformation. We are here to see how we could build a roadmap to develop some various sectors.
“This, we have done, in collaboration with the state,to develop a policy and strategic document being presented here today,” he said.
Bakole, who assumed the position of regional head in Nigeria five months ago, expressed gratitude to the federal government for his warm welcome in the country.
He said that it was a great opportunity for him to work in Nigeria, which was the leading economy in the African continent.
“I don’t always compare Nigeria with South Africa because they have different histories. You have shown me various examples and efforts here in Nigeria, which are different from other countries in Africa,” he said.
“I intentionally came into the state from Lagos by road to have a glimpse of the resources the nation was blessed with.
“On my way, I saw the country was blessed with resources that could aid agro processing and agripreneur development,” he said.
He commended the state government for developing the Ibadan City Master Plan, which he said has shown the state government’s commitment to the transformation of the state.
Bakole stated that the master plan and the Industrial policy document were developmental documents that would aid rapid development of state through strategic framework and roadmaps.
The Nigerian Communications Satellite Limited (NIGCOMSAT), the country’s satellite operator, has called for immediate promolgation of policy action that will enable the country to harness the potentials of Artificial Intelligence (AI).
NIGCOMSAT, also warned that Nigeria risks missing out on Africa’s projected $1.2trillion share of the global AI economy by 2030.
Managing Director of NIGCOMSAT, Nkechi Egerton-Idehen, disclosed this in a statement issued at the weekend following her participation in the Meeting of the National Council for Communications, Innovation, and Digital Economy.
“Artificial intelligence is reshaping industries, economies, and societies worldwide, with projections that it will contribute up to $15.7trillion to the global economy by 2030. Africa stands to gain $1.2trillion of this if the right policies and innovations are in place”, Idehen said, citing a PricewaterhouseCoopers report.
The NIGCOMSAT MD underscored the transformative potential of AI in agriculture, highlighting its applicability in Benue State, widely regarded as Nigeria’s “food basket.”
According to her, machine learning tools could revolutionize agricultural practices by improving pest detection and optimizing planting schedules using satellite imagery.
“AI offers us the chance to not only flourish economically but also to achieve food security. However, we must ask ourselves if we are prepared to manage this technology responsibly”, she added.
Idehen also noted that internet access remains a significant barrier to AI adoption in Nigeria.
“For AI tools to be effective, basic digital infrastructure is essential. Addressing this gap must be a priority.
“AI is happening. We have the opportunity to manage this technology revolution responsibly, both in Africa and globally, through innovation and governance”, she said.
In August 2024, the Federal Ministry of Communications, Innovation, and Digital Economy released a draft National Artificial Intelligence Strategy, aiming to position Nigeria as a global leader in AI.
Corlins Walter
The Chairman of Emohua Local Government Council, Chief David Omereji, has said the council has so far spent over N1 billion for the electrification of communities in the area.
Omereji said this while addressing staff of the council at the council headquarters recently.
He said the move was part of his administration’s resolve to ensure peace and development of the LGA.
According to him, the Council spent about N29 million on monthly basis for the maintenance of the Emohua Local Vigilante group known as OSPAC, with each member being paid a stipend of N100, 000 monthly.
He diaclosed that 11 out of the 14 wards are currently enjoying electricity, while efforts are on to light-up the remaining ones.
“I also want to use this opportunity to inform the political class for purposes of records and for the understanding of the people that the Council under my watch have done more than enough”, he said .
The Emolga boss explained that all that have been achieved were through the personal effort of the Council, without support from anybody as rumoured in some quarters.
Omereji further reaveled that a number of other projects, including roads, fencing of schools, hospitals, courts premises, and reconstruction of some abandoned buildings at the Council Headquarters are being undertaken by his administration.
He enjoined the people of the area to support his administration’s drive to bring purposeful development to the LGA.
The Emohua Council boss, who reiterated his hatred for noise making, stated that his works would speak for him, and solicited the support of staff of the council and the entire people of the area.
He noted the fact that some people may not be happy with his achievements, saying that he would remain focused, while advising critics of his government to do so constructively with facts and figures.
King Onunwor
The Movement for the Survival of the Ogoni People (MOSOP) has raised some ethical questions over a Financial and Technical Services Agreement (FTSA) between Sahara Energy and West African Gas Limited (WAGL), an affiliate of the Nigerian National Petroleum Company (NNPC).
MOSOP said the agreement was not done in good faith, not in the interest of the Nigerian people, and did not follow due process.
Foremost Ogoni born activist and MOSOP leader, Fegalo Nsuke, who made this known in Abuja, weekend, described the Sahara-WAGL deal as fraudulent, deceptive and an insult on the intelligence and integrity of the Nigerian nation.
Nsuke called on President Bola Ahmed Tinubu to cancel that FTSA between Sahara Energy and WAGL, noting that the agreement is fraught with irregularities and deceptive.
“What Sahara and the NNPC did in the FTSA between Sahara and WAGL is shameful and depicts high level corruption in public service of our country.
“WAGL is an affiliate of Sahara and the NNPC. How then can Sahara go into an agreement with its own affiliate? It’s as good as going into an agreement with itself. This is deceptive and fraudulent”, Nsuke said.
He continued that “Sahara Energy is certainly not a company the Ogoni people want on their soil and we are calling on Mr. President, Bola Ahmed Tinubu, to terminate any deal between the NNPC and Sahara Energy over OML 11, and to allow for an inclusive arrangement that considers a fair treatment of the Ogoni people in the distribution of revenues from natural resource extraction on Ogoni soil.
“The last Ogoni Congress has been unequivocal on the Ogoni demand for justice and has given a clear path to resolve the three decade old conflict between all critical parties.
“It will be good to explore this path to peace and development for Ogoni and for our country”.
Nsuke accused Sahara Energy and the NNPC of frustrating the progress made by MOSOP to achieve a permanent solution to the Ogoni problem.
He urged a presidential intervention with deep consideration for a fair treatment of the Ogoni people in order to permanently address the problem.
He noted that Sahara Energy should give up on the Ogoni area to allow for an engagement in the interest of the country and the people.
Recall that MOSOP and Sagara Energy have recently been engaged in a row in what MOSOP describes as an unholy relationship between Sahara Energy and the NNPC over OML 11.
MOSOP expressly rejected Sahara Energy and called for a fair treatment of the Ogoni people in natural resource extraction in Ogoni.
It noted that Ogoni people, led by MOSOP, paid the sacrifice to take the oil from Shell, hence “the position of MOSOP must be taken into consideration in decisions relating to resumption of oil production in Ogoni”.