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It was yet another bountiful harvest for the President Bola Ahmed Tinubu administration in its investment drive, as the African Development Bank (AfDB), Islamic Development Bank (IDB) and the International Fund for Agricultural Development hinted on Thursday that they have voted $1 billion to further deliver special agro-industrial processing zones in 24 States of Nigeria.
This is in addition to an initial $520 million voted by the development partners for the development of eight special agro-industrial processing zones in Nigeria.
President of African Development Bank Group, Dr. Akinwumi A. Adesina, disclosed this at the Norman Borlaug International Dialogue, World Food Prize 2023, in Des Moines, Iowa, United States of America.
Vice President Kashim Shettima, who is attending the event in pursuance of the food security and diversification policy of the Tinubu administration, had on Wednesday delivered his keynote address at the ongoing Dialogue.
Delivering his own speech titled, “From Dakar to Des Moines,” Dr. Adesina noted that the decision to pump such huge funds into Nigeria’s agribusiness was part of the resolve to develop Special Agro-Industrial Processing Zones (SAPZs) in 13 countries.
Explaining that it was the core of the food and agriculture delivery compacts from the Dakar 2 Summit held earlier this year in Dakar, Senegal, the AfDB President said, “We are investing heavily in the development of SAPZs to support the development of agricultural value chains, food processing and value addition, enabling infrastructure and logistics to promote local, regional, and international trade in food.
“The African Development Bank Group is investing $853 million in the development of the Special Agro-Industrial Processing Zones, and it has mobilized additional co-financing of $661 million, for a total commitment of $1.5 billion. We are deploying effective partnerships at scale. We are currently implementing 25 Special Agro-industrial Processing Zones in 13 countries.
“For example, the African Development Bank, Islamic Development Bank, and the International Fund for Agricultural Development provided $520 million for the development of 8 special agro-industrial processing zones in Nigeria. The second phase of the program aims to mobilize an additional $1 billion to deliver special agro-industrial processing zones in 24 States of Nigeria”.
Dr. Adesina regretted that while much progress had “been made in African agriculture, 283 million people still go to bed hungry in Africa, about a third of the 828 million people that suffer hunger globally.”
He however described the Norman Borlaug International Dialogue World Food Prize 2023, as a “journey and narrative of how we are combining the power of science, technology, policies, and politics to ensure that Africa fully unlocks its agricultural potential, and feeds itself, with pride.”
The AfDB President thanked Vice President Kashim Shettima, and the President of Ethiopia, Sahle-Work Zewde, for participating in the global event, saying their presence is an indication “that Africa has the political will and is fully ready to tackle food insecurity and make hunger history” on the continent.
Also speaking during the fire-side chat with the AfDB President, Dr Akinwunmi Adesina, Vice President Kashim Shettima who spoke on the Tinubu administration’s initiatives for food security said the quality of present leadership in Nigeria and the rest of Africa will drive transformation in agriculture and other sectors.
According to him, “a nation falls or rises fundamentally due to the quality of its leadership. Right now Africa is blessed with quite a handful of quality leaders that have the drive, passion and skills set to redefine the meaning and concept of modern leadership.
“Bola Ahmed Tinubu, my boss, is a good example, Macky Sall of Senegal and of course, Abdel Fattah El-Sisi of Egypt are doing wonderfully well, just to mention a few of the African leaders that are distinguishing themselves in leadership.
“I want to assure this gathering of investors and stakeholders in the agricultural sector that my boss, President Bola Ahmed Tinubu is a quintessential 21st century modern African leader who is determined to redefine the meaning and concept of modern leadership.
“Be rest assured that there will be a sea change in the fortunes of the Nigerian nation and by extention the African continent in the next couple of years because Nigeria is an anchor nation,” the VP added.
On wheat production, Sen. Shettima said “our target towards wheat production in Nigeria is to achieve 50% self sufficiency in the next 3 cycles. It is inconceivable that we are the second largest wheat importer in the world.
“Luckily, we have already procured the heat tolerant variety of wheat seeds and we are going to drive that process by supporting the farmers with the heat tolerant variety, agricultural extention services, fertilizer and also hope to increase the irrigation areas to 1 million hectares in the next cropping cycle.
“We need to produce about 2.4 million tonnes of wheat grains in Nigeria. We are going to reach out to our farmers through small irrigation schemes and through digitalisation. All the actors in the value chain will be sufficiently taken care of through innovative finance, partial credit guarantees and crop insurance,” the VP emphasized.
For rice production, the VP said the major challenge for Nigeria is the insufficiency of paddy rice. He noted that Nigeria has adequate milling capacity but “we need to produce 3 to 4 million tonnes of paddy rice to meet our requirement of about 2.5 million tonnes per annum. We have 75 million hectares of arable land and most of it suited for rice cultivation.”
He added that “we will provide our farmers with certified seeds, fertilzer, extension services, the digitlization of services, inputs, finance and market information. Our target is to achieve self sufficiency in rice latest by 2027.”
The VP also spoke about the Special Agro-Industrial Processing Zones (SAPZs), reiterating the Tinubu administration’s commitment to providing an enabling environment for investors in the zones.
He said government would create an SAPZ development authority that will operate like a one-stop shop where regulatory and associated issues will be addressed.
*Stanley Nkwocha*
*Senior Special Assistant to The President, Media and Communications (Office of the Vice President)*
*October 27th, 2023*
GODWIN EMEFIELE INTERROGATED AT EFCC HEADQUARTERS
The Former Governor of the Central Bank of Nigeria, Godwin Emefiele, is currently being detained in the custody of the Economic and Financial Crimes Commission.
Emefiele, who is currently being interrogated at the National Headquarters of the anti-graft agency, Jabi, Abuja, was picked up by EFCC operatives Thursday night, less than an hour after he regained his freedom from the dungeon of the Department of State Services.
The Commission is probing Emefiele over alleged impropriety during his term as the head of the apex bank.
“Yes, Emefiele is currently in our (EFCC) custody; he was arrested last night less than an hour after the DSS freed him. He’s currently being interrogated at the headquarters, as he’s being investigated for alleged misappropriation of funds amongst other things during his term as CBN governor,” the source noted.
Fresh charges may be filed against Emefiele by the EFCC.
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October 27, 2023
Press Statement
PDP Felicitates With Dan Orbih on Birthday
The Peoples Democratic Party congratulates the National Vice Chairman (South South) of our great Party, our own dear Chief Dan Osi Orbih as he marks his birthday today.
Chief Orbih is a seasoned politician and Party administrator who continues to play pivotal roles towards the stability and growth of our great Party, the PDP and the Nation at large.
On this special day, the PDP family celebrates our National Vice Chairman (South South) and prays to God Almighty to bless him with many more fruitful years of service to humanity and to the glory of His Name.
Happy Birthday Chief!
Signed:
Hon. Debo Ologunagba
National Publicity Secretary
October 27, 2023
PDP Congratulates Gov. Fintiri on His Birthday
…Says He is a Humble and Courageous Leader
The Peoples Democratic Party (PDP) family congratulates the Governor of Adamawa State, His Excellency, Rt. Hon. Ahmadu Umaru Fintiri, as he celebrates his birthday today.
Governor Fintiri is a humble and courageous leader; an excellent administrator and visionary politician, who continues to exhibit an uncommon steadfastness towards the stability, peaceful co-existence and development of not only Adamawa State but also the Nation in general.
Over the years, as the Speaker of Adamawa State House of Assembly, Acting Governor and now, two-term governor of Adamawa State, Rt. Hon. Fintiri continues to distinguish himself as a leader with exceptional love, commitment and sense of duty towards the people.
The PDP is proud of his legacy infrastructural and citizen empowerment projects in critical sectors including road, electricity, education, healthcare, agriculture with massive employment, better living standard and peaceful co-existence in the State in line with the manifesto and policy thrust of the PDP, and for which the people of Adamawa State overwhelmingly re-elected him for a second term in office.
Our Party also appreciates Governor Fintiri loyalty, unrelenting roles and contributions alongside other leaders in ensuring the stability, growth and development of our great Party especially at this critical time.
The PDP celebrates Governor Fintiri on this special occasion and prays to the Almighty Allah to grant him many more years in good health, vigour and wisdom in the service of our dear fatherland and humanity.
Signed:
Hon. Debo Ologunagba
National Publicity Secretary
EFCC arraigns Abdullahi Haladu and Kabiru Liman for allegedly defrauding Malam Sani Isyak the sum of N1, 550,000 in a land matter.
The Kaduna Zonal Command of the Economic and Financial Crimes Commission, EFCC, on October 23, 2023, arraigned Abdullahi Haladu and Kabiru Liman (at large), before Justice Darius Khobo of the Kaduna State High Court, for allegedly defrauding Malam Sani Isyak the sum of , N1, 550,000 (One Million, Five Hundred and Fifty Thousand Naira only), in a land matter.
The two defendants were arraigned on three- count amended charges bordering on conspiracy and obtaining by false pretence.
One of the counts reads: “That you, Abdullahi Haladu (M) and Kabiru Liman, on or about April, 2021 at Kaduna within the jurisdiction of this Honourable Court, intent to defraud, with intent to defraud, conspired among yourselves to do an illegal act, to: fraudulently obtain the sum of N1, 550,000.00 (One Million, Five Hundred and Fifty Thousand Naira) from one Malam Sani Isyak, when you falsely represented yourself as the owners of a plot of land measuring 105×45 FADI, at Mangoron Agwai Sabon Gari Malali, and had the authority to sell same, which pretence you knew to be false and thereby committed an offence contrary to Section 8(a) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006 and punishable under Section 1 (3) of the same Act”
The defendant pleaded not guilty to the charges when they were read to him, prompting the Prosecuting Counsel, M. Lawal to ask for a trial date. He also prayed that the defendant be remanded at the Kaduna Correctional Centre.
Meanwhile, defence counsel, Charles Ojijiemeh, made an oral application for bail. Lawal objected to it, arguing that the suspect had earlier jumped an administrative bail offered him by the Commission. He also demanded that Ojijiemeh be compelled to file a formal application for bail.
Justice Khobo, after listening to their arguments, adjourned the matter till October 30, 2023 for hearing of bail application, and ordered the remand of the suspect in Kaduna Correctional Centre.
Haladu’s trouble started when he was arrested by operatives of the Kaduna Zonal Command of the EFCC, for fraudulently obtaining the sum of N1,550, 000 from a petitioner. The payment was made in respect of a plot of land. He neither offered the land to the petitioner nor returned his money to him.
Media & Publicity
October 26, 2023.
EFCC arrests 15 suspected internet fraudsters in the Enugu metropolis.
Operatives of the Enugu Zonal Command of the Economic and Financial Crimes Commission, EFCC, have arrested 15( Fifteen) suspected internet fraudsters in the Enugu metropolis, Enugu state.
They were arrested on Friday, October 20, 2023 following credible intelligence on their alleged involvement in internet-related offences.
The suspects are; Casmir Ibebuogu Chizaram, Emegbusim Emmanuel Nnamdi, Chinedu Nworji, Nzube Micheal, Oranusi Chigozie Slyvester, Francis Mbaeri, Okoro Ugonna Prince, Stanley Amobi.
Others are; Emegbusim Chukwuka, Nlemoha Kingsley, Ejiofor Franklin, Chidera Peter, Chidiebube Chukwula Peter, Innocent Chukwuka Peter and Micheal Eche.
Items recovered from the suspects are: 30 mobile phones, one international passport and four laptops.
They will be charged to court as soon as investigations are concluded.
Media & Publicity
October 26, 2023
Ola Olukoyede urges youths to embrace right value systems by refraining from internet-related crimes and other offences
The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ola Olukoyede has called on youths across the country to embrace right value systems by refraining from internet-related crimes and other offences.
He gave the charge on October 24, 2023 when a delegation of students from Oloye Comprehensive College, Abuja, visited the corporate headquarters of the Commission, in Jabi, Abuja on a Study Tour.
The Chairman who spoke through Head, Media & Publicity Unit of the Commission, Assistant Commander of the EFCC, ACE1 Dele Oyewale said right value systems by youths have great prospects of helping them to build resistance against crimes. He called on youths to redirect their focus from the existing negative value systems; such as the get –rich- at-all- cost value system, materialist value system, and impunity to a more acceptable positive value system.
“Instead of the get-rich-at- all- cost value system, we must embrace a value system of legitimate undertakings which emphasize hard work, industry, patience, waiting for your time. It is the get –rich- quick syndrome that is at the root of cybercrime and all manner of economic and financial crimes. Youths across the country must avoid wrong values so that they can develop a very sound and profound value system that will be good for them and for the society, for those who take shortcuts are always cut short”, he said
Deputy Director, Creative Engagements, DCE Nwayinma Okeanu, stressed that, anti-corruption fight is not for EFCC alone, stressing that, it is a collective effort from everyone in making Nigeria great, and equally helping the EFCC achieve its mandate.
“The EFCC is for everybody, because the fight against economic and financial crimes is a fight that touches each and every one of us. The nation needs to be cleansed because young people like you are doing things that they are not expected to do, those things are putting our dear country in a bad light; those things are putting our collective future in jeopardy. If we do not clean that mess that we are in now, the future we are looking for may not be achievable”, she said.
On her part, Head, Enlightenment and Reorientation Unit, Assistant Commander of the EFCC, ACE II Aisha Mohammed, called on the youths to be part of the anti-corruption fight, stressing that change begins with them.
“We expect you to always be our foot soldiers and ambassadors of the EFCC as the future of Nigeria is in your hands”, she said.
In a presentation on the paper; “Concept of Cyber Crime”, Chief Superintendent of the EFCC, CSE Daniel Nwaka, expressed the need for the students to be cautious of cyberspace as crimes on the internet are on the increase. “The choice to use cyberspace to do what is right, is yours to make. If you choose to do what is bad, the EFCC will be waiting for you”, he said
Media & Publicity
October 26, 2023
JULIUS BERGER INVESTORS’ FORUM: “WE’RE TRANSITING INTO A CONGLOMERATE,” SAYS MD LARS RICHTER
“For Julius Berger, there is no challenge that has been too big, and no …The 2023 edition of the Julius Berger Group Investors Forum held recently via zoom with stakeholders and shareholders satisfied with the growth trajectory of the leading engineering construction company.
While providing participants at the forum with an update on Julius Berger’s business performance, strategy and operations in the 2023, as well as speaking to the outlook for the business of the company, the Managing Director, Engr Dr Lars Richter confidently said: “The company is transiting to a conglomerate by continually driving growth across our core businesses and our subsidiaries, through which we deliver value-added services along the entire value chain of the construction industry.”
According to Richter, “…our core business, which is our first pillar, continues to achieve stable growth and upholds our standards as Nigeria’s leading and most innovative construction company. We continue to drive economic growth and expansion in the country through our infrastructure projects, as well as development of industries through our building arm.” On the transnational expansion of the company’s business operations, the Managing Director said that “…We are expanding our value delivery to other regions of the continent, and we will continue to maintain our performance standards and drive innovation in the construction industry,” adding that, “the projects in our core business significantly contribute to economic growth and expansion, creating more efficient routes that drive trade and commerce and foster industry development.”
He said Julius Berger has a proven history of consistent performance and value delivery. Underscoring this, Richter highlighted the company’s measured expansion into a conglomerate, a development which he said, “has progressed with our diversification efforts through the launch of our cashew product, which is export market driven, coupled with growth in our subsidiaries.”
On the company’s performance within the period, the Managing Director said there was growth even as he was confident of greater performance beyond the period. Richter said, “Our top and bottom lines grew in the first half of the year, building on a very strong 2022 performance where we achieved record growth in turnover. On the back of this, we have sustained shareholder value delivery through the payments of dividends, alongside having a sound and robust governance as a key pillar of our business. We have achieved broad-based progress, notwithstanding the challenging environment, which speaks very highly of our resilience as a company.”
Stressing that Julius Berger’s over 50 years of operation has consolidated with it a reputation for renowned quality delivery in the country and beyond, creating value for its stakeholders, the Managing Director declared that the company’s strategy has been resilient, expanding its portfolio over the decades. Continuing, the Managing Director assured all of management’s determination to ensure positive transition of the company to “a conglomerate.” Giving an insight into the company’s planned transition into a conglomerate, Richter further revealed: “…at the heart of our conglomerate transition is our diversification pillar, which we successfully kick-started in 2020 through the cashew processing business. We expect to reap significant benefits from our diversification efforts in the medium to long-term. We have achieved notable success so far, including exporting processed cashews to the international market…. We are also looking at other sectors like healthcare, where we can create added value.”
On the Bodo-Bonny Road project and the Second River Niger Bridge, according to the MD, the company continues to make progress in constructing the first road link between Bonny Island and the mainland in River State even as he added that construction continues at a good pace on the milestone project and looks forward to the completion of the project to support the continued advancement of Bonny Island and the Niger Delta in its entirety.
On the recently completed and commissioned Second River Niger Bridge, the Managing Director described it as a key national infrastructure with immense socioeconomic benefits for the contiguous states and indeed the entire nation just as he said the Abuja Kano Road where sections thereof were recently commissioned, only the Abuja to Kaduna section is yet to be completed because of banditry on that section of the busy highway all through last year.
The Managing Director also spoke of other projects such building projects in Lagos, the iconic architectural edifice, the worship centre in Uyo, contributions to the gas and oil business with Julius Berger’s unique construction expertise, as well as the company’s highly effective facility management works by which the company contributes as well to maintenance and refurbishment especially in Lagos and in Abuja.
For Julius Berger’s subsidiaries, Richter said, remarkable progress and development are being made even as he said that the company plans to sustain the trajectory through the continued provision of exceptional service and products to its clientele and the introduction of new products and services to the market.
On Julius Berger’s sustainability and governence policy, Richter said sustainability is embedded in the company’s business, adding that sustainable business is the best business. “We constantly assess the impact of our operations and actively generate shared value for our company, employees, communities, and in the region where we operate. We support and have embodied within our processes the 15 United Nations Sustainable Development Goals. We also prioritise environmental sustainability and have mechanisms in place that monitor emissions and manage waste,” he further said
On the company’s corporate governence policy, Richter said: “We have an effective enterprise risk management process, adhere to reporting standards and regulations and consistently engage with all our stakeholders. We also recently established a board strategy committee to place strategy at the heart of our sustainability and resilience. Our board recognises the importance of sustainability for long-term value creation.”
Speaking on the community engagement policy of the company, the Managing Director said: “We also maintain a robust Corporate Social Responsibility operation through various initiatives that focus on community welfare, employee development, diversity, and inclusion amongst other social initiatives. Some of our CSR initiatives include the provision of classroom buildings and school furniture as well as scholarships to students in construction-related departments across Nigeria’s universities. The MD added that, Julius Berger also has a food and medical donation policy during critical emergencies in the company’s operational sites and regions.
Speaking on the financial highlights of the company within the period to provide additional information to participants at the Forum, Director of Finance, Christian Hausemann said due to management’s rigorous cost management, gross profit, operating profit, and pre-tax margins have improved compared to 2022, despite the local and global inflation environment.
Hausemann said, both of the company’s assets and equity “have recorded very positive trends.” Hausemann added that the company invested in property, plant, and equipment to support its growth and diversification strategy. “The upward trend in return on equity continued and is recorded at an annualised rate of 15.8% as of June, which demonstrates JBN’s ability to create value for its shareholders,” he said. Saying “We are on the right track”, the Financial Director, Hausemann further added that the company’s return on assets which was negatively affected in 2020 rebounded positively from 2021 to 2023, reflecting a sustained upward trend in Julius Berger’s business activity.
At the Questions and Answers session, both Richter, the Managing Director, and Hausemann, the Financial Director, cleared any doubts whatsoever coming from shareholders amidst pledges to deliver greater dividends by year ending and going forward.
Representatives of Julius Berger at the Investors Forum were: Managing Director, Lars Richter, Director, Administration, Zubairu Bayi, Director Corporate Development, Tobias Meletschus, Company Secretary, Mrs Cecilia Mahueke, Finance Manager, Miss Joy Isen and Chief Risk Officer, Mrs Shakira Mustapha, with shareholders, including Oluwatosin Kalejaiye and Dele Akande actively participating.
