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South-West governors meet on insecurity, investment

October 27, 2021 No Comments

Governors of states in the South-West met on Tuesday in Lagos State to address insecurity and other issues of common interest in the region.

The meeting held at the State House in Marina was attended by governors Babajide Sanwo-Olu (host), Rotimi Akeredolu (Ondo), Gboyega Oyetola (Osun), Kayode Fayemi (Ekiti), and Dapo Abiodun (Ogun).

The Oyo State Governor, Seyi Makinde, was represented by his deputy, Rauf Olaniyan.

Akeredolu, who briefed journalists on the outcome of the meeting, said the governors deliberated on the security situation and investment in the region.

He said: “The six Governors of the South-West under the South-West Governors’ Forum met today. We deliberated on a number of common and personal issues. We also deliberated on our common heritage, which is the Oodua Group of Companies.

At the end, we agreed on a few things; a number of them, which have to do with security, are not what we can discuss in the open. This short address is just to let the journalists know we met today. But we don’t want our decisions discussed in the open.”

The governors’ meeting came just five days after gunmen attacked the Abolongo correctional centre in Oyo State and freed over 800 inmates.

The hoodlums also killed two security personnel attached to the facility.

Politics

FG urges state govts to attract investments in water sector

February 21, 2021 No Comments

The Minister of Water Resources, Mr Suleiman Adamu, has underscored the need for state governments to prioritise investment in the water sector, to achieve targets.

Adamu gave the advice at the investiture ceremony of Mrs Chinwe Igwegbe, the 6th National Chairman of the Nigerian Institution of Water Engineers (NIWE), on Saturday, February 20, in Abuja.

The event with the theme: “Reconciling bragging rights with human rights in the Nigerian water sector development” was organised by NIWE, an arm of the Nigerian Society of Engineers (NSE).

According to the minister at the event which also featured a public lecture, there is a need for collaboration between the States and the Federal Government to achieve Sustainable Development Goal, in terms of water supply.

Adamu said, “One of the key things that is affecting the water and sanitation sector in this country is the inability of the state government to invest in water.

“Everybody seems to put blame on the Federal Government, but the truth of the matter is that the Federal Government is not responsible for providing water for your taps.

“So, we need to work with the states; we need more states to invest in water and sanitation.

“The other issue is operational maintenance, the lack of investment in water and sanitation is a major problem.

This is one area that I hope this institution (NIWE) and the Council for the Regulation of Engineering in Nigeria (COREN) will put heads together and increase awareness, to ensure states appreciate this,“ the minister said.

He further stressed the need for the Water Resources Bill to be passed to bring about reforms in the nation’s water sector.

Also speaking at the event, the President of NSE, Babagana Mohammed, described Igwegbe as a professional capable of breaking new grounds in the institution.

According to him, Igwegbe is embarking on a mission that will define the extent of the water sector, as a division of the NSE in the next two years.

“As the new chairman, your success will be measured in the number of resources and professionalism in the water engineering in Nigeria.

“We will expect to see constructive contributions and development of specifications and standards in the water sector.

“To aid in surmounting the challenges of development in the country; there is no doubt in my mind that Igwegbe will surpass our expectations during her tenure,” Mohammed said.

Business

Nigeria attracted $2.6bn investment in 2020 – UN

January 25, 2021 No Comments

Nigeria was the top Foreign Direct Investment (FDI) destination in Sub-Saharan Africa for 2020 ahead of South Africa and Ethiopia, the United Nations Trade Association (UNTA) said on Monday.

In its World Investment Report for 2020, UNTA said Africa’s largest economy attracted $2.6 billion investment last year, a 21.21 percent decline from $3.3 billion recorded in 2019.

South Africa and Ethiopia received $2.5 billion each.

However, Egypt remained the top recipient of FDI in Africa with about $5.5 billion in 2020.

The report describes Nigeria as among the most promising poles of growth in Africa and attracts numerous investors in hydrocarbon, energy, building, and other sectors.

It said: “Poorly developed transport and energy infrastructure (lack of electricity), which result in high operating costs is one of the weak points for investment in Nigeria if this can be addressed, Nigeria has the potential of attracting more.”

The report added that investors in the country are from the United States China, the United Kingdom, the Netherlands, and France.

“FDI flows to Africa declined by 18 percent to an estimated $38 billion, from $46 billion in 2019. Greenfield project announcements, an indication of future FDI trends, fell 63 percent to $28 billion, from $77 billion in 2019. The pandemic’s negative impact on FDI was amplified by low prices of and low demand for commodities,” it added.