Day: September 24, 2024

The United States Chamber of Commerce has expressed its willingness to invest about 320 million dollars in mortgage refinancing and Small and Medium Enterprises (SMEs) in Nigeria.

This is contained in a statement issued by spokesperson of Vice-President Kashim Shettima, Mr Stanley Nkwocha.

Ms Nisha Biswal, the Deputy Chief Executive Officer of the U.S. International Development Finance Corporation, made this known on Monday.

The News Agency of Nigeria (NAN) reports Biswal spoke at a US-Nigeria Executive Business Roundtable hosted by the US Chamber of Commerce as part of activities at the ongoing 79th Session of the United Nations General Assembly.

She explained that with a portfolio of one billion dollars, the chamber would invest 200 million dollars in mortgage refinancing in Nigeria.

‘Also the sum of 100 million dollars has been earmarked for FCMB to finance SMEs in Nigeria, with particular interest in women empowerment.

‘The US Chamber of Commerce also announced that 20 million dollars has been appr
oved for a firm, Robust International, for processing of cashew nuts in Nigeria.’

Biswal emphasised that the American Chamber remained committed to working with Nigerians in the development and pursuit of sustainable economic policies.

Responding, Vice-President Shettima, who is leading the Nigerian delegation at the ongoing UNGA, reiterated President Bola Tinubu’s commitment to investor-friendly policies.

‘I urge you to give Nigeria the benefit of the doubt. The current administration led by President Bola Tinubu is the most investor-friendly administration in the history of Nigeria.

‘When fuel subsidy was an albatross around Nigeria’s neck, President Tinubu, from day one, hit the ground running by withdrawing the fuel subsidy and unifying the multiple opaque foreign exchange markets.’

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Earlier, the Minister of Foreign Affairs, Amb. Yusuf Tuggar, led other members of the delegation to brief the Vice-President on the activities and itinerar
y lined up for him in New York.

Tuggar, while outlining the programmes and activities, said that the Vice-President was expected to deliver President Tinubu’s national statement at the General Debate of the UNGA.

He added that apart from President Tinubu’s national statement delivery, Shettima is also expected to meet with the Secretary General of the United Nations.

Similarly, aside other heads of states lined up to meet with the Vice-President, there are also scheduled meetings with the head of the African, Caribbean and Pacific States.

Shettima will also meet with the President of the World Trade Organization (WTO), Dr Ngozi Okonjo-Iweala; Director-General of the International Atomic Agency, and multinational companies, among others.

Also on the itinerary of the Vice-President is a meeting with the Bill and Melinda Gates Foundation and a host of other international partners.

Source: News Agency of Nigeria

Nigeria’s Vice-President Kashim Shettima is among the world leaders slated to address the 79th session of the United Nations General Assembly (UNGA 79) at the UN headquarters in New York.

UNGA 79 opened on Sept. 10, while the General Debate opens on Tuesday, Sept. 24, through Monday, Sept. 28.

The schedule for the speakers, released by the office of the Spokesperson for the UN Secretary-General on Monday stated that 194 speakers would speak at the General Debate.

According to the office, the number is subject to change.

The breakdown, however, showed 76 Heads of State, four Vice Presidents, two Crown Princes, 42 Heads of Government, and nine Deputy Prime Ministers.

Others on the schedule are 54 Ministers: one Vice Minister and four Chairs of Delegation and European Union as well as Holy See.

Of these, it noted that there are 19 women speakers, viz, five Heads of State; one Vice President; four Heads of Government and nine female ministers.

Meanwhile, Nigerian Vice-President Kashim Shettima arrived in
New York on Monday to represent Nigeria at the Debate, leading Nigeria’s delegation to the UN General Assembly.

The vice-president would deliver Nigeria’s national statement and participate in various high-level meetings.

He was received by the Minister of Foreign Affairs, Amb. Yusuf Tuggar, and Minister of Communications, Innovation and Digital Economy, Dr Bosun Tijani.

Others were the Director-General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa; Nigerian diplomats, UN officials and many others.

Source: News Agency of Nigeria

Alhaji Mohammed Badaru, Nigeria’s Minister of Defence, says Nigeria has earned the right to become a member of the UN Security Council after contributing to 41 peacekeeping missions, deploying over 200,000 troops.

Badaru said this, in his address at the Summit of the Future interactive dialogue 2, titled: ‘Enhancing Multilateralism for International Peace and Security,’ on Sunday in NewYork, US.

The summit is part of the events at the 79th United Nations General Assembly.

Badaru, who also spoke with State House correspondents at the Nigerian House, New York, said Nigeria had a longstanding commitment to international peace and security.

‘Since our first deployment in the Congo in 1960, Nigeria has contributed to 41 peacekeeping missions globally,’ he stated, highlighting the deployment of over 200,000 Nigerian troops in UN operations.

Badaru called for reform of the UN Security Council to ensure Africa was represented with permanent seats, arguing that this would enhance global stability.

‘Nigeria has
remained unequivocal in its commitment to international peace building and security, since the first engagement of its troops in the Congo in 1960.

‘To date, Nigeria has contributed to 41 peacekeeping operations worldwide, with over two hundred thousand Nigerian troops serving in UN peacekeeping missions,’ he said.

According to the minister, under the regional and sub-regional cooperation, Nigeria has been involved in peacekeeping operations in field missions in several countries.

He said the countries included Cote dIvoire, Guinea-Bissau, The Gambia, Liberia, Mali, Sudan and Sierra Leone, among others.

He said Nigeria had contributed a lot in terms of finance, logistics, troops and civilian experts, making it one of the most significant African troops and police contributors to the United Nations missions.

‘It is on this basis that Nigeria continues to call for the reform of the United Nations Security Council to give just representation to Africa on a permanent basis for inclusivity and deepening of gl
obal peace and security,’ he said.

The Defence Minister stressed the importance of building professional African armies to combat terrorism and called for operationalisation of the African Standby Force.

He also highlighted the need for comprehensive strategies to tackle transnational crime and illegal arms trafficking, particularly in the Sahel region.

‘We recognise the need for Africa to build strong and professional armies, in order to, among other things, defeat terrorism.

‘Nigeria, calls for the operationalisation of the African Standby Force (ASF), and provision of requisite support and resources to ensure the upgrade, take off and effectiveness of a centre of excellence in Africa on issues of counter terrorism,’ said Badaru.

He called for strengthening regional and sub-regional cooperation to build the capacities of Member States and promoting cooperation and understanding.

He urged the global body to take decisive steps to defuse tensions, and seek peaceful settlement of disputes to resolve conf
licts, especially in the Middle-East and Ukraine.

The minister reiterated Nigeria’s commitment to combating transnational organised crime.

He emphasised the urgent need for comprehensive strategies that include prevention, early detection, protection, and law enforcement to address the rising alliances between bandits and terrorists.

‘We must scale up our efforts,’ he stated, highlighting the alarming trend of kidnappings for ransom and acts of piracy.

Badaru called on the international community to intensify efforts to control the proliferation of small arms and light weapons in conflict zones, particularly in the Sahel region.

He warned that unrestricted access to illicit arms by non-state actors exacerbates insecurity and instability.

‘We seize this opportunity to urge the international community to renew efforts to stem the tide of small arms and light weapons in conflict, especially within the Sahel region,’ he said.

Badaru reaffirmed Nigeria’s dedication to supporting UN efforts in combating terr
orism and promoting global peace.

Source: News Agency of Nigeria

The Federal Executive Council (FEC) on Thursday said a Disaster Relief Fund would be established to be headed by a top private sector operative.

Mr Wale Edun, Minister of Finance and Coordinating Minister for the economy, said this while addressing State House correspondents after the FEC meeting on Monday.

He said the Disaster Relief Fund would be a best-in-class fund that would be corporate governance-driven, and headed by a top private sector executive.

‘It will build for Nigeria a resilient response that is adequate in size, scale, quality and be able to respond in such occurrences as we have had in Borno and elsewhere before.

‘This will focus on financing and bring together funding from across the federal, sub-national, the local levels, the private sector, and even international philanthropic organisations,’ said the minister.

Edun said President Bola Tinubu directed that a disaster relief fund should be established to enable the country build greater resilience in the form of a substantial disast
er relief fund.

He said that the relief fund would be separate from the agencies that intervene physically.

According to the minister, this fund will be different from the National Emergency Management Agency (NEMA) Relief Fund established in 1999, and the Flood Relief Fund set up in 2012.

He said the President believed that the fund had become expedient in the era of climate change, as well as the fact that there would be disasters, no matter the prevention measures put in place.

The News Agency of Nigeria (NAN) reports that President Tinubu announced the creation of the Disaster Relief Fund on Sept. 16.

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He made the announcement during a visit to Maiduguri, Borno, to commiserate with victims of flooding in the state, saying that the fund would assist Nigerian citizens impacted by floods and other disasters.

The President said the Federal Government would collaborate with the private sector to establish the fun
d.

Source: News Agency of Nigeria

The Minister of Water Resources and Sanitation, Prof. Joseph Utsev has advocated collective action to protect the Nigeria’s water bodies from pollution and flooding.

Utsev said this on Monday in Abuja at an event to commemorate the 2024 World Rivers Day, with the theme: ‘Protect Our Rivers from Pollution’.

World Rivers Day is being celebrated globally to raise awareness about the importance of rivers.

This year’s observance in Nigeria serves as a reminder of the urgent need to protect the country’s water bodies.

Utsev underscored the role rivers play in the water cycle, economy, ecosystem and sustainable development.

‘Our rivers are lifelines for communities, ecosystems, and economies across Nigeria, it is our collective responsibility to prevent pollution, flooding, and other threats that endanger these vital resources.

‘Protecting our rivers require a collective effort. Let us all work together to prevent pollution and flooding so that future generations can benefit from these priceless resources,’ h
e said.

He noted that this year’s celebration was subdued due to the devastating Maiduguri flood which caused significant damage in Borno.

Utsev recalled that the Sept. 10 flood claimed lives and destroyed properties, prompting his ministry to assess the Alau Dam to prevent future disasters.

‘As we commemorate World Rivers Day, we also stand in solidarity with the people of Borno State.

‘We are working closely with the Nigerian Hydrological Services Agency (NIHSA) to monitor water levels across the country and ensure that such incidents do not reoccur,’ he said.

Utsev stressed the importance of flood preparedness, particularly in states along the Benue River, such as Adamawa, Taraba and Benue.

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He urged state governments to remain vigilant, clear drains and relocate residents from flood-prone areas.

The minister reiterated the Federal Government’s commitment to protect Nigeria’s rivers from pollution, urging stakeholders to view river
s as ‘living entities’ deserving of legal rights and protections.

He enjoined Nigerians to safeguard rivers from harmful practices such as dumping of waste and overuse.

‘We must extend these protections to our watersheds and basins, recognising that clean and healthy rivers are fundamental to our survival,’ Utsev added.

Also, Dr Bello Goronyo, his state counterpart, noted the role of rivers and dams in sustaining life and supporting national development.

He stressed that protecting rivers was crucial to maintaining dam infrastructure, which supports water supply, irrigation, and hydro-power generation.

Goronyo warned against harmful river activities that jeopardise dam safety and water resources.

While calling for collaboration between the government, stakeholders and the media to enhance public awareness and prevent misinformation about dam safety, Goronyo stressed the need for support to enhance sustainable water management.

The event attended by representatives of the National Water Resources Instit
ute Kaduna, Nigeria Integrated Water Resources Management Commission and NIHSA, featured symbolic tree planting and river clearing at the Jabi Lake, FCT, Abuja.

Source: News Agency of Nigeria

The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, says collaboration with the media will strengthen the fight against corruption in the country.

Olukoyede said this when the Managing Director of the News Agency of Nigeria (NAN), Malam Ali Muhammad Ali, paid him a courtesy visit in Abuja.

He described the media as an important ally in fighting and defeating the menace of corruption in the country.

According to Olukoyede, appropriate and effective public enlightenment is a significant tool used by the commission in ensuring a paradigm shift in the perception of corruption among Nigerians.

‘We believe that concerning our mandate, we must have strong synergy with the media; the News Agency of Nigeria, especially.

‘It is extremely important because part of the factors we can deploy to really fight this war is public enlightenment, and the major stakeholders are the media people.

‘Without you it will be extremely difficult to reach the grassroots and let the people know how
endemic this problem is, and the need for us to all come together to collaborate.

‘The job is not only for the law enforcement agencies; it is for everybody,’ he said.

According to him, there is nowhere in the world that anti-corruption agencies succeed without collaboration with the media and civil society.

‘These are the people that will drum up whatever you are doing and where there is sentiments, they are the people that will be able to balance things up,’ he said.

On the effect of corruption in Nigeria and Africa, Olukoyede said corruption had a strong relationship with insecurity, stressing that security could only be achieved when the fight against corruption is won.

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‘As a matter of fact, if you can deal with the issue of corruption, the issue of insecurity will become an issue of the past. So we are going to collaborate with you’.

Responding, Ali said the visit was to intimate the EFCC on the agency’s plan to organise an internat
ional lecture on insecurity in the Sahel.

‘We are coming to first intimate you on our plan to have the first international lecture organised by the agency.

‘The agency, as part of its efforts to also contribute to the body of knowledge, has to go about having a resolution to this lingering crisis of insecurity in the country and beyond.

‘We took it on a bigger scale. We are looking at insecurity in the Sahel, how it has affected Nigeria.

”We are dissecting the origin, the genesis, the impact and the options available to the country,’ he said.

Ali said that there is a strong relationship between insecurity and corruption that has remained a challenge in the African region.

He said that the EFCC had made significant strides in the anti-corruption fight in the country over the years.

‘We have seen the commendable job you’ve been doing in the last couple of months. We said let us go to the EFCC and intimate them and this is what is happening.

‘We don’t want to just have the Chairman as a mere invitee. Th
e whole management came to intimate you about our plans,’ the NAN MD said.

Source: News Agency of Nigeria