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Edun hosts outgoing World Bank Country Director, lauds developmental initiatives

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The Minister of Finance and Co-ordinating Minister of the Economy, Mr Wale Edun, has hosted the outgoing World Bank Country Director, Dr. Shubham Chaudhari at a dinner on behalf of the country.

Commending Chaudhari for his Significant Contributions to Nigeria’s Economic Growth at an event held in Abuja, Mr Edun acknowledged the organisation’s crucial role in promoting socio-economic sustainability and enhancing Nigeria’s economic competitiveness.

He expressed appreciation for the remarkable achievements recorded during Dr. Chaudhari’s tenure and reaffirmed the country’s commitment to building on these accomplishments so as to further drive economic progress in line with the Renewed Hope Agenda of the President Bola Ahmed Tinubu-led Administration.

“We appreciate your tireless efforts towards the promotion of economic growth and development in Nigeria. Your leadership and expertise have made a significant impact on our country’s progress.Your dedication to supporting Nigeria’s development agenda is truly commendable.

“We are grateful for these contributions and look forward to continued collaboration. Your commitment to fostering inclusive and sustainable growth in Nigeria is inspiring. We appreciate your partnership and guidance in shaping our country’s future,” Edun said.

He informed that the hallmark of the present administration’s policy thrust that brought fiscal reforms was aimed at boosting the nation’s economic development with a view to attracting foreign investments so as to ensure job creation, poverty reduction and improved standard of living for the citizenry.

The Minister assured that Nigeria offers a wealth of opportunities for foreign investors, with a large and growing market, rich natural resources, and a skilled workforce.

Mr Wale Edun invited the international community to discover the opportunities and advantages of investing in Nigeria.

“We invite you to explore the possibilities and partner with us for mutual growth. Join us in harnessing the potential of Nigeria’s emerging economy. Our country offers a favourable business environment, investment incentives, and a dynamic market waiting to be tapped.

“Our government is committed to creating a conducive environment for businesses to thrive and succeed. We are inviting the international development partners to come to Nigeria and invest their resources. Nigeria is a country with diverse business opportunities and market potentials for profit maximisation,” he stressed.

The Minister stated further that Nigeria would continue to be a development partner with the World Bank, and that the present administration was committed to championing a good cause as well as implement  policies that would boost the country’s economy in order to make it more vibrant and resilient.

Edun further appreciated Dr Chaudhari’s tenure, which he said, underscores the importance of supporting and recognising Nigeria, aligning with President Bola Ahmed Tinubu’s pragmatic leadership in providing good governance.

He added that the reforms initiated by the administration would serve as a window to the global investment community, stressing that Nigeria is open for  business with stable and profitable benefits thereby calling on Philanthropists, both within and outside the country, to invest their resources in Nigeria, a country which he said, has the largest population in Africa.

Edun explained that “the disputable access to renewal energy recently launched was an indication to build trust, attract foreign  investment, and foster international partnerships aimed at reinvigorating the Nigerian economy.”

Speaking during the event, Dr. Shaubham Chaudhari, the out-going World Bank Country Director, described the event as symbolic and strategic, saying that it would help build bonds in relationship trust. He commended Nigeria for its proactive measures and robust efforts in bracing up monetary policies and in fostering sustainable economic development despite the daunting challenges.

The outgoing Director assured that his Organisation’s doors were widely open for more collaborations and partnerships for the country’s growth.

Earlier in her remarks at the event, the Permanent Secretary, Federal Ministry of Finance, Mrs Lydia Shehu Jafiya assured that the Ministry will continue to provide an enabling environment for the full implementation of the policies, programmes and projects of the Federal Government in line with its mandate.

She appealed to the international community to support the efforts of the present administration in its determination to boost the country’s economy and further stressed the need for  international partners to take advantage of the country’s diversity and invest their resources for maximum benefits.

“Nigeria offers a vast and untapped market, rich in natural resources and human capital. We invite you to explore the numerous investment opportunities and be a part of our growth story. Join us in shaping Nigeria’s future and tapping into the  immense potentials of our economy. Together, let’s create a prosperous and sustainable tomorrow.

“Nigeria is open for business. We welcome foreign investors to partner with us in unlocking our economic potentials and driving growth in key sectors,” Jafiya said.

Also speaking, the Permanent Secretary Special Duties, Mr Okokon Ekanem Udo, assured that the present administration was committed to putting and implementing projects that will impact on the lives of Nigerians in line with contemporary global realities.

He commended the outgoing World Bank Country Director, Dr. Shaubham Chaudhari for his commitment and dedication.

“Thank you for your dedication and commitment. We are grateful for your unwavering support and guidance, which has helped us navigate complex development challenges and create a brighter future for Nigerians.” Udo said.

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Reps seek more financial investment for federal teaching hospitals

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The House of Representatives Committee Chairman on Health Institutions, Amos Magaji, has called for a sustained financial investment in the federal teaching hospitals across the country.

He said this will be in line with the Renewed Hope agenda of the President Bola Tinubu-led administration for the betterment of the citizenry.

Magaji disclosed this during an oversight visit of members of his committee to the Federal University of Health Sciences Teaching Hospital, Otukpo.

He stressed the need to allocate more funds in health sector, considering the primary responsibility of health institutions in the country.

Magaji appreciated the Chief Medical Director, CMD, and his management staff for showing interest in the growth of the teaching hospital, considering the tremendous achievements recorded within a period of one year.

He assured that he would work with his members to ensure that more funds are made available to develop the needed infrastructure including the medical equipment to meet up with the expectations of the people.

“We are glad to be in Otukpo today to see things for ourselves. We don’t want to depend on second hand information on the true condition of the Federal University Teaching Hospital Otukpo,” he said.

He assured the management of full support of the Federal House of Representatives as appropriate incentives would be given through interface with other critical stakeholders in Abuja.

The committee chairman enjoined the staff, whom he described as foundation staff to work as team despite the working condition, “we have seen how the environment is looking and we will continue to monitor the progress.

“So, as foundation staff, you all have the opportunity to write your name in gold.”

While welcoming the committee, the CMD, Prof Silas Ochejele, appreciated the federal government for the establishment of the teaching hospital in Otukpo which has drastically changed the medical services narratives in the state.

Ochejele thanked the House of Representatives Committee on Health Institutions for the pains to come down to Otukpo and believed that the visit has made them to see things themselves, which would go a long way in repositioning the hospital for the betterment of the people.

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JUST IN: Helicopter carrying Iran’s President crashes

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A helicopter carrying Iranian President, Ebrahim Raisi, has been involved in an incident while he was visiting neighbouring Azerbaijan, Iran’s semi-official Tasnim news agency reported on X on Sunday according to CNN.

“Some of the president’s companions on this helicopter were able to communicate with Central Headquarters, raising hopes that the incident could have ended without casualties,” it added.

It is unclear what the exact status is of Raisi’s helicopter, CNN reports.

The helicopter was part of a convoy of three helicopters. Two of those helicopters were carrying ministers and officials who arrived at their destination safely, according to Tasnim.

“Seyyed Mohammad-Ali Al-Hashem, Tabriz’s Friday Prayer Imam, and Foreign Minister Hossein Amirabdollahian were also reportedly on the helicopter with the president,” Tasnim said on X. BREAKING: Helicopter carrying Iran’s President involved in an accident

A helicopter carrying Iranian President, Ebrahim Raisi, has been involved in an incident while he was visiting neighbouring Azerbaijan, Iran’s semi-official Tasnim news agency reported on X on Sunday according to CNN.

“Some of the president’s companions on this helicopter were able to communicate with Central Headquarters, raising hopes that the incident could have ended without casualties,” it added.

It is unclear what the exact status is of Raisi’s helicopter, CNN reports.

The helicopter was part of a convoy of three helicopters. Two of those helicopters were carrying ministers and officials who arrived at their destination safely, according to Tasnim.

“Seyyed Mohammad-Ali Al-Hashem, Tabriz’s Friday Prayer Imam, and Foreign Minister Hossein Amirabdollahian were also reportedly on the helicopter with the president,” Tasnim said on X.

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NDDC to unveil 92 projects worth N84bn

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The Niger Delta Development Commission said it would commission 92 infrastructure projects valued at over N84 billion across five states in the region in the next two weeks.

This is according to a statement by the Director, Corporate Affairs, NDDC, Mr. Pius Ughakpoteni, made available to our correspondent in Uyo, the Akwa Ibom State capital, on Sunday

“With a forward-looking, innovative and result-oriented roadmap, the commission is well-equipped towards ensuring a holistic and sustainable development of the Niger Delta into a region that is economically prosperous, socially stable, ecologically regenerative and politically peaceful,” adding that the NDDC’s management “would explore means of reducing recurrent expenditure, while focusing on completing capital projects.

“And in the light of the above, NDDC, will in the next two weeks, commission 92 infrastructure projects executed at a cost of N84 billion across the nine mandate states in the region,” the statement partly read.

The projects include the 25.7 km Ogbia-Nembe Road which creates a road link to the ancient city of Nembe. For the first time in living memory, the 9.15 km of pre-fabricated vertical drains on the swamp and seven bridges are also among the star projects in the area.

These projects executed at the cost of N24 billion, cut the traveling time to Yenagoa, the Bayelsa State capital from 3 hours on dangerous water routes to 45 minutes and also opened up 14 communities for development.

Also slated for commissioning are the 132KV Transmission Line and I32KV/33KV sub-station electrification project, executed at a cost of N8.3bn to optimise power supply to Local Government Areas in the southern part of Ondo State.

The project covers the construction of 45km double circuit 33KV feeder lines from Omotosho Power Station (Hook-up point) to Okitipupa and two 30MVA, 132/33KV injection substations with breakers, gantry and substation automation. It also includes the construction of a 3-bedroom semi-detached bungalow as service quarters.

The capacity of the power station is optimised with the provision of 2 x 60MVA, 132/33KV transformer and other ancillary works at Okitipupa injection sub-station, rehabilitation of 35km 33/11KV transmission from Okitipupa-Igbokoda-Ugbonla and environs and the construction of 1km rigid pavement.

The electricity project will complement the Federal Government’s effort in the power sector development by improving power supply to Okitipupa, Igbokoda and other neighbouring communities in Ondo South Senatorial District, with direct value chain in small and medium scale industries, job creation and consequently engender growth and development in Ondo State.

Ughakpoteni also noted that in Akwa Ibom State, the NDDC will commission the 6.87 km Iko-Iwuochang road in Akwa Ibom South (Eket) Senatorial District of the state.

In Abia State, the commission will unveil the Obehie to Oke Ikpe road reconstructed at a cost of N3.5bn, among others.

Other projects for commissioning during the event include roads, electrification, a police station, health centres and school blocks.

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