Nigeria’s Economic Diversification Agenda Achieving Positive Results – 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.
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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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BREAKING:Lagos Govt Arraigns Chrisland School, Principal, Others Over Death Of Pupil Whitney Adeniran
The Lagos State government has arraigned Chrisland School, Opebi, its principal, vice principal and two other employees over the death of one of the school’s pupils, 12-year-old Whitney Adeniran.
On Wednesday, the government of Lagos State had filed charges against Chrisland School and four others over the death of the 12-year-old pupil, Whitney Adeniran.
The school and its workers were accused of involuntary manslaughter and reckless and negligent acts.
The workers who were arraigned before Justice Oyindamola Ogala of the Lagos State High Court in Ikeja include Ademoye Adewale, Kuku Fatai, Mrs Belinda Amao, Nwatu Ugochi Victoria and Chrisland School Limited.
The school principal, Mrs Belinda Amao, broke down in tears while in the dock as the court and counsel tried to agree on a date for the commencement of the trial.
Whitney died during the school’s inter-house sports competition at Agege Stadium in Lagos on February 9.
Blessing Adeniran, her mother, had accused Chrisland of negligence over her daughter’s death.
The school’s management, however, dismissed insinuations that there was foul play in the death, saying she slumped in public.
Chrisland also argued that Whitney complained about “not-too-buoyant health” a few days before she died.
However, an autopsy conducted at the Lagos State University Hospital (LASUTH) confirmed that the deceased died from “asphyxia and electrocution”.
In the charges filed on behalf of the state government by the Director of Public Prosecution (DPP), Babajide Martins, who disclosed that their negligence killed Whitney because they failed to ensure her safety.
The charge also disclosed that they all acted in a reckless and negligent manner that endangered human life.
The offences are contrary to Sections 224 & 251 of the Criminal Law, C17, Vol.3, Laws of Lagos State, 2015
If found guilty, the offences carry a penalty of life imprisonment and two-year jail terms respectively.
On Tuesday, the state government granted access to Chrisland High School, Opebi branch, to open for physical learning ahead of the school’s forthcoming examination after parents’ appeal.
The state governor, Babajide Sanwo-Olu had ordered that the school be shut down on March 3, 2023, following the investigation into Whitney’s death.
Sanwo-Olu through the state Ministry of Education said the closure of the school would pave the way for unhindered investigation and afford all stakeholders, including parents, students, staff and friends of the deceased, time to grieve.
The reopening followed an appeal by the Parents of all Chrisland School Units who visited the Ministry of Education on Monday to seek the government’s understanding for “the sake of 500 plus students some of whom also have terminal examinations.”
The management of the school had tendered an apology over Whitney’s death.
BREAKING: Abacha’s Ex-chief Of Staff Oladipo Diya Dies
Retired Lt.General Donaldson Oladipo Oyeyinka Diya, the former Chief of Staff in General Sani Abacha’s military government, is dead.
His death was confirmed by Prince Oyesinmilola Diya. He said the former military administrator of Ogun State passed on to glory in the early hours of 26th March 2023.
Born on the 3rd of April, 1944, Diya was military Governor of Ogun State after the Buhari-Idiagbon coup of December 31st, 1983.
Diya joined the Nigerian Defence Academy, Kaduna and fought during the Nigerian Civil War.
He later attended the US Army School of Infantry, the Command and Staff College, Jaji (1980–1981) and the National Institute for Policy and Strategic Studies, Kuru.
While serving in the military, Diya studied law at Ahmadu Bello University, Zaria, where he obtained an LLB degree, and then at the Nigerian Law School, where he was called to bar as Solicitor and Advocate of the Supreme Court of Nigeria.
He held other top military posts like GOC, 82 Division and finally the Chief of General Staff (military Vice President) to Gen Sani Abacha
The statement read: “On behalf of the entire Diya family home and abroad; we announce the passing on to Glory of our dear Husband,Father, Grandfather,brother, Lt- General Donaldson Oladipo Oyeyinka Diya (Rtd) GCON, LLB, BL, PSC, FSS, mni.
“Our dear Daddy passed onto glory in the early hours of 26th March 2023. Please keep us in your prayers as we mourn his demise in this period. Further announcements will be made public in due course.
“Barrister Prince Oyesinmilola Diya, on behalf of the family.”
Breaking: Appeal Court Retains Adeleke As Osun Governor
The Court of Appeal sitting in Abuja has vacated the tribunal judgement that nullified the election of Governor Ademola Adeleke of Osun State.
The appellate court, in a unanimous decision by a three-member panel of Justices, on Friday held that the appeal Adeleke lodged to challenge his sack by the Osun State Governorship Election Petition Tribunal, was meritorious.
Aside from setting aside the judgement of the tribunal, the court, in its lead judgement that was delivered by Justice Mohammed Lawal, awarded N500, 000 cost against the All Progressive Congress, APC, and its candidate, Gboyega Oyetola
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