Business
Diri Pushes For Africa’s Sub-nationals’ Partnership On Economy … As Bayelsa, Angolan Province Synergizes On Fisheries, Agric
Bayelsa State Governor, Senator Douye Diri, has advocated for economic cooperation between states in Africa.
He said such cooperation would promote African unity, boost the economies of the sub-nationals, and reduce the economic dependence on the Western world.
The Bayelsa helmsman stated this at the weekend during a meeting with the Governor of the Province of Namibe in Angola, Mr. Archer Mangueira.
He noted that Bayelsa and Namibe shared similarities as coastal states bordering the Atlantic Ocean, and that both could benefit from areas that they had comparative advantage.
A statement made available to newsmen by the Chief Press Secretary to the Bayelsa State Governor, Mr. Daniel Alabrah, said Namibe has developed its marine economy to become the fishery hub of Angola and the southern African sub-region.
The statement also noted that the discussions between both leaders were centred around exploring the opportunities of collaboration in the marine sector, amongst others.
“We’ve discovered that relationship between governments has not been very cordial across the continent of Africa. We rather prefer to value our relationship with Europe and Asia.
“Among presidents and governors, we have not related so well and I think that this kind of visit will address such relationship within us in Africa, particularly between states and countries.
“Bayelsa has a whole lot of similarities with Namibe. Like your province, Bayelsa borders the Atlantic Ocean except that Namibe has low lands with a dual advantage of the Atlantic Ocean and the desert”, Diri said.
He continued that “Bayelsa is at the heart of the Niger Delta, which is the oil-producing region of Nigeria, and like Namibe, it is also in the southern flank of our country. The state is very rich in oil and gas, and, in fact, it is richer in gas than oil.
“Like Namibe, we are also interested in fisheries because of our aquatic location and having the longest coastline in Nigeria, which has remained largely untapped and undeveloped.
“So, as we speak, our government is constructing roads to hit the Atlantic Ocean on three fronts in order for us to actually explore the ocean as you have done in Namibe.
“From what we have seen, we can collaborate in fisheries, which is one area you can explore beyond Bayelsa.
“I have also seen that there is a developed and functional seaport here. We are trying to develop a deep seaport at a place called Agge, and we are looking out for investors that have the potential and resources to actualise this. So we are interested in collaborating with you on that.
“Also in agriculture, our land is very fertile for the cultivation of rice, plantain, cassava, bananas, potatoes and vegetables.
“We recently established a relationship with the South Korean Government, which has donated equipment to our state for mechanised farming.
“I believe that there many areas we can collaborate. Where you have comparative advantage, you produce, and where we have comparative advantage, we also produce.
“From our meeting, I’m aware that Namibe is also a potentially oil producing state. So, areas of collaboration include fisheries, agriculture, culture, tourism and potentially oil and gas.
“This meeting should be an eye opener for African countries and states. There is need to have this kind of bilateral relationship between states in Africa”.
Diri thanked his host, Mangueira, and his Vice-Governors, Ema Samali Henriques da Silva and Abel do Rosário Kapitango, for the warm reception accorded him and his delegation, saying it epitomised the true spirit of African brotherhood.
In his remarks, Governor of the Namibe Province, Mangueira, said he was excited about the visit and the prospects for collaboration and investments.
Describing Namibe as the Land of Happiness, Mangueira noted that there was a lot to learn and benefit from a huge country like Nigeria.
He said although the province grapples with erosion challenges, it was focusing on its tourism sector for economic development of the region.
“We also have a very rich ecological biodiversity and a desert that is considered the oldest in the world. We have had potential in the fishery industry since the colonial era.
“Unfortunately, we do not have the level of funding that we had previously. Nevertheless, it remains one of the most important sectors for our socio-economic development.
“The oil industry also holds a lot of potential and we look forward to your expertise and support. We equally have the mining sector apart from oil. At the moment, we are exploring the mining sector for marble and granite production.
“This year, we are looking at completing the modernisation of our seaport to make it possible for export of our minerals.
“We look forward to the expertise of Nigeria and learn how it developed its mining sector. We are privileged to be in an area that is abundant in many minerals. So, there is a lot of potential to invest.
“We would like to learn from Nigeria’s experience regarding the use of pesticides and the treatment of agricultural products. We are open to partnerships with Nigeria to develop our agricultural sector in Angola, cultivating crops like watermelons, bananas, and mangoes.
“We believe that cooperation between our countries is key to advancing towards development. Mutual cooperation can be an effective way to overcome underdevelopment.
“It is important to emphasise that, in forming partnerships, we should also seek investments in the financial sector. There are already movements in this direction in Angola, with the presence of banks and ongoing negotiations. South-South cooperation should be prioritised as should agricultural development initiatives.
“I firmly believe that the future of African development is intrinsically linked to the strengthening of the agricultural sector in our countries.
“Thus, I accept the governor’s invitation for us to work together to build an agenda that is not limited to meetings but results in concrete actions that benefit our regions and strengthen our relations”, the Namibe Governor said.
On the visit with governor Diri were a member of the State House of Assembly, Hon. Ebizi Brown, the Secretary to the State Government, Prof. Nimibofa Ayawei, and the Deputy Chief of Staff, Government House, Mr. Iroro Komonibo.
Ariwera Ibibo-Howells, Yenagoa
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The First Lady, Senator Oluremi Tinubu, Monday, presented N50 million cash grant to 1,000 women petty traders in Kwara State.
Senator Tinubu announced the cash grant in Ilorin, the Kwara State capital, during the inauguration of the National Information Technology Development Agency (NITDA) community ICT centre.
The centre was established in collaboration with the First Lady’s pet project, the Renewed Hope Initiative (RHI), under its Social Investment Programme (SIP).
Mrs. Tinubu said: “In the spirit of today’s event, the Renewed Hope Initiative, under the RHI Economic Empowerment scope, will be presenting a grant of N50 million to the First Lady of the state and RHI State Coordinator to support another set of 1,000 women petty traders with the sum of N50,000 each to recapitalize their existing businesses.
“We had earlier empowered 1,000 women petty traders on August 22, 2024.
“Under the RHI Social Investment programme, 250 elderly citizens were given a grant of N200,000 each on December 17, 2024 to celebrate the Yuletide season.
“In addition, the RHI, under its Education Programme, is collaborating with the Universal Basic Education Commission (UBEC) to build an Alternative High School for Girls in Kwara State.
“This is to provide another opportunity to access education for girls and women who dropped out of school due to early pregnancies, child marriages and other socio-economic reasons.
“Also, Kwara State has been nominated to benefit from the construction of a model Early Childhood Care Development Education (ECCDE) centre, which will be built in Ilorin.
“As part of the fruit of our collaboration with the Tertiary Education Trust Fund (TETFund), the Kwara State University is to benefit from the establishment of an ICT Experience Centre.
“Also, under our RHI Agriculture Programme, women and young farmers will benefit from the N68.9 million Federal Ministry of Agriculture and Food Security Support grant.
“This grant has been made available to Kwara State through the First Lady and RHI State Coordinator, who will be responsible for the implementation of the Women Agricultural Support Programme (WASP), Youth Agricultural Support Programme, Every Home A Garden and Young Farmers’ Club of the Renewed Hope Initiative”.
She continued that “So far, NITDA has constructed four community ICT centres. This centre we are inaugurating today is the second, while Benue and Oyo centres are ready to be inaugurated soon.
“Other digital economy centres have also been fully equipped with computers and other ICT materials in five states, namely: Jigawa, Ebonyi, Cross River, Oyo, Niger, and the Federal Capital Territory (FCT).
“Ten additional digital economy centres in Abia, Edo, Delta, Ondo, Kano, Katsina, Lagos, Nasarawa, Yobe, and Zamfara are also being fully equipped with ICT materials and will be ready for inauguration soon.
“By equipping themselves with ICT skills, women and girls can enhance their educational prospects, be self-reliant, participate in the global economy, and support their families.
“Therefore, today’s inauguration presents us with another opportunity under the mandate of the Ministry of Communication, Innovation, and Digital Economy to further expand digital access to our citizens by providing communities with the resources they require to develop ICT skills.
“This is in line with the priority area of the Renewed Hope Agenda of His Excellency, President Bola Ahmed Tinubu, to accelerate economic diversification through industrialisation and digitalisation”.
Governor AbdulRahman AbdulRazaq’s wife, Lady Olufolake AbdulRazaq, noted that the inauguration “speaks to the many engagements and partnerships of Senator Tinubu towards ensuring that Nigerians are adequately supported in the pursuit of their goals and improving livelihoods of the most indigent to complement the efforts of Mr. President Tinubu and the Federal Government in this regard”.
Africa’s Global Bank, United Bank for Africa (UBA) Plc, is billed to host a Knowledge Series webinar to educate small and medium business owners on the 2024 withholding tax regulations that went into force this year.
According to a statement from the bank on Monday, the webinar, themed “2024 Withholding Tax Regulations, Specific Emphasis on How They Affect SMEs”, is scheduled to be held today.
The Knowledge Series is a regular seminar/workshop organised by the bank as part of its capacity-building initiatives, where leading business leaders and professionals share well-researched insights on relevant topics and best practices for running successful businesses.
Expected at the webinar are UBA’s Head of SME Banking, Babatunde Ajayi; Financial Analysts with Anderson Consulting, Adeyemi Adediran and Vincent Okoukoni.
UBA’s Group Head, Retail and Digital Banking, Shamsideen Fashola, who spoke ahead of the webinar, emphasised the importance of this edition, noting that it will provide a platform for businesses, especially SMEs, to learn more about the new tax regime, implications for their business, and attendant benefits for them and the economy at large.
He said, “Getting first-hand knowledge from experts on this important subject, as put together by UBA, will be invaluable for any business owner looking to build a lasting enterprise”.
Also speaking on the upcoming workshop, UBA’s Group Head, Marketing & Corporate Communications, Alero Ladipo, said, “At UBA, we remain resolute in our commitment to empowering businesses of all sizes, and that is why we have decided that we will help guide our customers towards making better business decisions and embracing more opportunities in 2025.
“We have assembled an esteemed panel of speakers who will do justice to this topic by sharing their vast wealth of experience and insights on how best to navigate the new tax regime. This is a must-attend event for anyone serious about the long-term success of their enterprise”.
UBA is one of the largest employers in the financial sector on the African continent, with 25,000 employees across groups and serving over 45 million customers globally.
Nigeria is said to be losing over $40 billion annually from the maritime sector due to poor regulatory standards and the lack of enforcement mechanisms.
The newly elected Chairman of the Nigerian Institution of Marine Engineers and Naval Architects (NIMENA), Eferebo Sylvanus, disclosed this in a statement, lamenting the significant revenue losses plaguing the sector.
He attributed the challenges to weak enforcement frameworks and substandard regulatory practices.
To reverse this trend, he, among other stakeholders, are canvassing for proper regulation and prioritisation of research and development, which they argued, could unlock the full potential of the sector thereby contributing to the country’s economic growth.
Sylvanus said, “Nigeria has the potential to generate over $40 billion annually from the maritime sector. However, we are losing out on this because of a lack of proper regulatory standards and enforcement mechanisms.
“It is crucial that we focus on strengthening these areas and investing in research and development to solve the sector’s challenges”.
Sylvanus was elected at an extraordinary general meeting held in Port Harcourt, which witnessed the emergence of other members of NIMENA’s Executive Committee.
The Chairman, who described his election as a call to service, emphasised his readiness to reposition NIMENA as a leading institution for maritime research and development, contributing to Nigeria’s and Africa’s economic growth.
Outlining his vision, he said, “My priority is to lead NIMENA to attain international recognition. We will set up a journal house to publish research and development activities that will tackle Nigeria’s and sub-regional maritime challenges. Our collaboration with regulatory agencies, policymakers, and stakeholders will play a critical role in achieving this goal”.
As part of his plans, the new Chairman announced a membership drive aimed at engaging undergraduate marine engineers, young practitioners, and others outside the institution.
“We have set up a membership committee to address the challenges faced by prospective and existing member, while enhancing their benefits”, he added.
On his part, the immediate past chairman of NIMENA, Daniel Tamunodukobipi, commended the transparent election process and urged the new leadership to sustain existing initiatives to enhance safety in Nigeria’s waterways.
“It is important to develop and maintain codes and standards to strengthen the safety framework in the sector. Public enlightenment campaigns are also necessary to educate Nigerians about the activities of NIMENA and the importance of a well-regulated maritime sector”, he said.
Experts also noted that ineffective regulation has created loopholes for revenue leakages, illegal maritime activities, and substandard practices that deter foreign investment.
They called for collaborative efforts between professional institutions like NIMENA, regulatory agencies, and the private sector to restore confidence in the industry.
Sylvanus concluded by assuring stakeholders of NIMENA’s commitment to delivering on its mandate.
“We will engage in workshops, technical sessions, and collaborations with government agencies to ensure that the maritime sector becomes a major revenue earner for Nigeria. Together, we can transform this industry into a global standard”, he said.
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