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Nigeria’s Economic Diversification Agenda Achieving Positive Results – Adebayo

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Adebayo Asks UK To Address Challenges Faced By Nigerian Businesses
Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo

Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo on Thursday declared that the Federal Government’s diversification agenda was achieving positive results with the recent growth in the country’s Gross Domestic Product (GDP) largely driven by the non-oil sectors.

In his address at the second Andersen Africa-Europe Bridge Conference held virtually, he said, “As you are aware, Nigeria is the largest economy in Africa, with a steadily growing GDP of over USD500 billion, GDP per capita is expected to reach $2300 by the end of 2021.

This is over 84% higher than the Africa average.

“Despite the view that Nigeria’s economy has historically been driven by oil, recent growth has been driven primarily by the non-oil sectors, such as financial services, telecommunications, entertainment, and of course agriculture. This shows that our diversification agenda is working.”

This year’s Africa-Europe Sustainable Development Bridge Conference centred on policy and its economic effects on agribusiness in various countries.

Though the minister noted that last year was a difficult year for all economies, he said the country’s economy was getting back strong and open for business with the investment climate improving.

“In the first half of this year, investment announcements were at $10.1 billion, an increase of 100% in 2020. Investors from places as diverse as Europe, China, Morocco, and the UK are making strong commitments and this administration is working tirelessly to ensure that these commitments turn into ventures, enterprises, and businesses that positively impact our nations,” he said.

He announced the implementation of the ministry’s backward integration programme across key selected priority products, namely palm oil, sugar, cassava starch, cotton textiles and garments, saying the government was prepared to collaborate with investors to achieve its mandate.

For palm oil, Adebayo said there was a domestic market opportunity of about USD1 billion which potential investors could take advantage of.

On cassava starch, he said while Nigeria remains the largest producer in the world, a significant domestic supply gap existed with more than 95% of cassava starch still being imported.

READ ALSO: Gbajabiamila Agrees With RMAFC Chairman On Review Of 29-year-old Revenue Sharing Formula

He said the government focus was on bringing in large- scale investors to bridge the gap and increase the production of cassava starch.

On cotton, the minister told the gathering that the government strategy was to leverage the special economic zones for garment production for both local market and export.

He declared that the government was committed to the establishment of special agro-processing zones across the country so as to reduce post-harvest losses, increase value addition to farmers and enhance rural employment.

According to him, the government was partnering with the African Development Bank to achieve its goals in this regard adding that the ministry would be willing to collaborate with potential partners in different areas of this project.

“Similarly, we aim to build at least one agro-processing facility in each of the country’s 109 senatorial districts by leveraging available government funding and exploring innovative financing methods such as public-private-partnership and grants.

“Nigeria’s agribusiness sector is full of opportunities across multiple value chains, especially in the area of processing. The outlook report from the Organisation of Economic Cooperation and Development (OECD) and the UN Food and Agriculture Organisation (FAO) states that the sector will undergo robust growth projected to rise 30% between 2018 and 2028,” he stressed.

 

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Ooni Opens Up On Meeting With Buhari Over Igboho

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Ooni Opens Up On Meeting With Buhari Over Igboho

The Ooni of Ife, Oba Adeyeye Ogunwusi Ojaja II, has disclosed what transpired during his meeting with President Muhammadu Buhari over Yoruba Nation agitator, Sunday Adeyemo aka Sunday Igboho.

In an interview with BBC, the monarch said the agitator rejected advice offered him by monarchs sent to dialogue with him.

Ooni said that during the meeting, Buhari was informed of the reasons for Igboho’s agitation.

In his reaction, Buhari said Igboho needed to be “calm and patient”.

The president also asked monarchs in the South-West to advise Igboho against moves that were lawless.

The monarch, who said Igboho had a just cause to fight, said he should have been more diplomatic.

READ ALSO: Buhari Launches Digital Currency eNaira

He alleged that Igboho was misled by politicians, insisting that the activist deserved the support of monarchs in the region.

Ooni said he had forgiven Igboho and already working to get him freed from detention in Benin Republic.

He urged other Yoruba Nation agitators to consider dialogue.

He said: “I have always told the government to call the agitators for a dialogue. Sunday Igboho grew up in Ife. All that he has become today, started from Ife. He fought the Ife and Modakeke war and both lands belong to Ife. He is a son of the soil.

“He wanted to fight for his kinsmen. He stood up and fought for those killed in Oke Ogun. We thank God for preserving his life. He tried his best but he was overwhelmed by different pieces of advice from people.

“Many people advised him wrongly. He listened to them.

“I visited President Buhari on his case and we discussed it. I told him that Igboho is our son, he told me that he (Igboho) should stay calm and exercise patience. The president told me that monarchs should warn him to be calm.

“After I left Buhari’s place, I called on monarchs and elders of Yoruba land for a meeting to advise Igboho to exercise patience but Igboho did not listen. He started abusing everyone, including the monarchs I sent to him.

“He hurled so many bad words but he is still our son. God owns forgiveness. We’ve forgiven him. If he had listened, he wouldn’t have found himself in his current travail.

“We are trying our best to secure his release.

READ ALSO: Ooni Warns Against Communal Crisis Over Modakeke Killings

“It is better to fight together. We can only achieve our goal if we are united.

“No one can fight with the government alone. You’ve to be diplomatic.”

 

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Bandits Kill 17 In Mosque

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Bandits Kill 17 In Mosque

Seventeen people were killed as bandits invaded a mosque in Maza Kuka village in Mashegu local government area of Niger State.

Also, 18 people were said to have been abducted during the attack on Monday morning.

The gunmen invaded the community on motorcycles while the residents were performing their morning prayers, shooting sporadically into the air.

Sources said that the gunmen shot at some victims, leaving 17 dead.
Some of the residents said on phone they were still in shock over the attack, which they said took them by surprise.

The Maza Kuka and Kulhu communities in Mashegu local government council of Niger State are bordering Kianji Lake Forest where most of the bandits are said to be taking refuge.

READ ALSO: Nigeria Will Be In Ruins If Bandits Are Declared As Terrorists – Gumi

The Secretary to the Niger State Government, Ahmed Ibrahim Matane, confirmed the attack to reporters.

He said that 16 people were killed in the mosque while one other was killed at Kaboji village by the gunmen.

Matane said that the State Government had sent a team of military personnel to the forest to fish out bandits hiding there.

The Chairman of Mashegu local government council, Alhaji Alhassan Isa Maza-Kuka also confirmed the incident, describing it as very devastating to the people.

He said that the attack was uncalled for especially as the people were in the mosque for prayers.

Alhassan disclosed that one of the injured people was in a critical condition and had been referred to the Minna General Hospital for medical attention.

 

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Federal University, Lokoja Honours Toyin Falola, Holds Conference

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Federal University, Lokoja Honours Toyin Falola, Holds Conference

The Department of History and International Studies, Federal University, Lokoja will hold a national conference in honour of renowned historian Prof. Toyin Falola.

The theme of the conference is “Insurgency, Armed Banditry, And Ethno-religious Conflicts In Central Nigeria.”

The event billed for 10:00 a.m. on November 10, 2021 at the University Auditorium, Adankolo Campus, is one of the ceremonies of the fifth convocation of the university.

Falola is a Professor of African History and Jacob and Frances Sanger Mossiker Chair in the Humanities at the University of Texas at Austin , U.S.A.

Prof. Falola’s research interest is African history and the geographic areas of interest include Africa, Latin America, and the United States. Falola’s thematic fields include Atlantic history, diaspora and migration, empire and globalization, intellectual history, international relations, religion and culture.

Beyond his academic pursuits, Falola who is author and editor of more than one hundred books, makes regular interventions in the simmering and overt socioeconomic and political crises of his country Nigeria and continent Africa.

 

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