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Over $1bn investment attracted in automobile sector — Minister

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The Minister of Industry, Trade and Investment, Adeniyi Adebayo, has said that the Federal Government has recorded over $1billion worth of investment in the automotive industry.

Adebayo said this when he featured at the 20th edition of the President, Muhammadu Buhari’s administration scorecard series organsied by the Federal Ministry of Information and Culture on Tuesday in Abuja.

“Over $1 billion  in investment has been recorded in the automotive sector and we are ready to move on to the next phase for the automotive industry,” the Minister said.

While disclosing that the review of the National Automotive Industry Development Plan was nearly completed, he said that the plan is going through validation process.

Adebayo who restated the Ministry’s commitment towards enabling business environment to attract and retain investments, said the Ministry and the Nigerian Investment Promotion Council were committed to attracting and protecting investments that genuinely benefit Nigeria and its citizens.

Stressing that the revised Bilateral Investment Treaty would boost investment, he said, “Nigeria has successfully revised its model Bilateral Investment Treaty to include a specific provision for investment facilitation, which institutionalises the principle of assisting investors in completing their investments.

“We are proud to offer Nigeria’s first investment policy to the Federal Executive Council for approval.

“This strategic statement, which will outline our priorities, aims, commitments, and expectations, is a turning point for the Federal Ministry of Industry, Trade, and Investment and Nigeria as an investment destination,” he said.

Adebayo, who said that Nigeria had Investment Promotion and Protection Agreements with Singapore, Morocco, and Saudi Arabia to attract and retain investments, said the Ministry was developing more.

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UNIBADAN Students’ Union rejects fee hike, calls for reversal

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By Sodiq Adelakun

The Students’ Union (SU) of the University of Ibadan (UI), Oyo State, has taken a firm stance against the recent fee hike announced by the institution’s management, insisting on a complete reversal of the decision.

In a statement released on Sunday by the SU President, Samuel Tobiloba, and Secretary, Olaniyi Dolapo, the union vehemently opposes the significant increase in fees for fresh students, which reportedly exceeds 1,000 per cent, as indicated by a campus-based publication.

The union has not only expressed its dissatisfaction with the fee hike but has also formally written to the university management.

Their letter requests the suspension of payments and registration for fresh students, along with a demand for a meeting with the authorities.

The purpose of the meeting is to gain clarity on the situation, particularly regarding the fees for returning students, and to explore avenues for a peaceful resolution.

UI, celebrated for its academic prowess, is currently embroiled in controversy as students representatives vehemently oppose the recently announced fee hike for fresh students. Prior to the latest adjustments, fees for new entrants ranged from N20,000 to N30,000, as reported by the student union.

However, the latest increments have skyrocketed, with fees now ranging from N203,000 to N412,000, representing a substantial financial burden on incoming students.

Despite attempts to get a response from the university authorities, including messages sent to the institution’s Public Relations Officer, Joke Akinpelu, there has been no official statement at the time of filing this report.

Meanwhile, tensions continue to mount as student representatives stand firm against the fee hike, expressing readiness to explore all available avenues to ensure their demands are met.

“The Student Representative Council (SC) equally held an emergency sitting, and the resolution of the sitting is as earlier circulated by the council’s leadership,” it said.

“Our union’s position on increment in fees, especially at this hard time, remains the same (NO TO FEE INCREMENT),” it said.

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‘Tinubu paying fuel subsidy more than before’ – El-Rufai

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The former governor of Kaduna State, Mallam Nasir El-Rufai, has claimed that the President Bola Tinubu-led Federal Government is currently subsidising fuel for Nigerians.

Fielding questions from journalists in Maiduguri, the Borno State capital, on Monday, El-Rufai said the FG is now paying fuel subsidy more than before.

President declared during his inauguration on May 29, 2023, that the country can no longer subsidise fuel for the citizens, saying the petrol subsidy is gone.

The development skyrocketed the price of fuel and other products and services, triggering the economic hardship that has been bedevilling the nation since 2023.

But the former governor told journalists on Monday that the subsidy is back.

According to him, the FG returned the subsidy because “the impact has been seen and the packages of support that would reduce the impact have not been so effective in reducing the impact, so the federal government is back now subsidising petrol.”

He said many people don’t know that the fuel subsidy is back.

“If they want to know whether we are subsidising or not, they should compare the price of petrol and diesel because petrol should be more expensive than diesel but diesel is priced above a thousand naira while petrol is at N600 per litre.

“So, we are still subsidising Petrol because the government has realised that the way it implemented the fuel subsidy initially required some adjustments,” El-Rufai said.

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Clark calls for special taskforce for release of Chibok girls

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Pa Edwin Clark, Leader of  the Pan Niger Delta Forum (PANDEF), has urged the Federal Government to appoint a special taskforce to ensure the rescue of the remaining Chibok girls held by Boko Haram

The elder statesman made the call while briefing newsmen in Abuja on Monday at a ceremony to mark the Chibok girls’ 10th anniversary in captivity.

While expressing displeasure over the failure of past administrations to rescue the girls, Clark urged President Bola Tinubu to leave no stones unturned to secure the release of the girls.

“About 90 of them are still missing after 10 years. This should be a source of worry and concern to any government.

“Tinubu should appoint a special taskforce with brave soldiers, who are competent and transparent and not nepotic.

“Their main duty will be to travel at all times to Sambisa forest or where ever these citizens are, to look for these girls and rescue them.

“In giving this advice, I also want to add that a time limit should be given to them to carry out this task.”

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