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Afe Babalola displeased over delay in granting free trade zone status to ABUAD
The founder of the Afe Babalola University Ado-Ekiti, Chief Afe Babalola has expressed displeasure at the Federal Government’s delay in granting a free trade zone status to the university.
Babalola raised the concern when hosting delegates from the China-Nigeria Consortium on Industry and Education at the ABUAD-China Partnership Forum Meeting, on Wednesday in Ado-Ekiti,
He said that the over 132 – Units of ABUAD industrial park, locate in Ado-Ekiti, was enough to turn the story of Nigeria around, if well annexed and utilised.
Babalola said that China, which was a very poor country some years ago, had suddenly overtaken Nigeria in the scheme of economic matters
The chancellor of ABUAD said that the issuance of the Free Trade Zone certificate would have enabled foreign companies to establish businesses in the park, thereby boosting Nigeria’s economy.
He lamented that such progressive ideas would have been embraced, under the defunct regional government system.
Babalola also reiterating his call for a people-oriented constitution to foster national development.
“In 1999, i traveled to China. At that time, China was a very poor country, but the Chinese people were very wise.
“They created an area, called free trade zone, which allowed countries like the United States and Germany to set up industries there.
” Unknowingly to those countries,, the Chinese, learned from these foreign industries, which eventually contributed to their remarkable global development today.
“However, for the past two years, i have applied for the same concept here, but the government has refused to grant us a free trade zone certificate”, he said.
Continuing, he said, ” There is an American company, ready to begin manufacturing cars in my Industrial Park, but the lack of this certificate has stalled their plans.
“If we still had the regional government system that we used to have, we would be more developed than we are today. This is why we need a new constitution.”
In her address, Ms. Wendy Wang, the Secretary-General of the China-Nigeria Consortium on Industry and Education, who spoke through an interpreter, commended Babalola for his visionary achievements in education, engineering, and health.
She described ABUAD as the best institution in Nigeria, highlighting its integration of cutting-edge technologies in its curriculum.
Earlier in her address of welcome, the Vice Chancellor of ABUAD, Prof. Smaranda Olarinde commended Babalola, for allowing the partnership between the consortium and ABUAD .
She described the visit as a replica of the one, earlier made by her and a select ABUAD team, that Babalola sponsored to China on a working tour recently.
Olarinde said that with the partnership, “ABUAD will soon start manufacturing vehicles and robots.”
NAN reports that other highlights of the event, was the presentation of the ‘Chinese Plus Digital Intelligence Education Gold Medal’ to Babalola, in recognition of his commitment to quality and functional education in Nigeria.(NAN)
By Abubakar Yunusa
Dangote Petroleum Refinery has slashed its ex-depot price of premium motor spirit (PMS), also known as petrol, to N825.
Esan Sunday, head of media relations and branding communications at Dangote Group, announced the reduction in a statement on Wednesday.
The development comes more than three weeks after the refinery reduced petrol price from N950 per litre to N890.
The new price means that the refinery has significantly cut the ex-depot price by N125 from N950 per litre in January.
“This recent price reduction will also ensure that Nigerians pay between N860 and N865 per litre for petrol at the pump in Lagos,” the statement reads.
“This strategic price adjustment is designed to provide essential relief to Nigerians in celebration of the Ramadan season, while also supporting President Bola Ahmed Tinubu’s economic recovery policy by alleviating the financial burden on the Nigerian populace.
“It is important to note that Dangote Petroleum Refinery has consistently lowered the prices of petrol and other refined petroleum products to the benefit of Nigerians.
“This marks the second reduction of PMS prices in February 2025, following a previous decrease of N60 earlier in the month.
“Additionally, in December 2024, during the yuletide period, the refinery reduced the price of PMS by N70.50, from N970 to N899.50 per litre, as part of its commitment to easing the cost of living and providing relief to Nigerians during the holiday season.”
The oil firm refinery also said previous reductions have positively impacted the overall cost of living, benefiting various sectors of the economy.
Dangote refinery added that its high-quality products, which have become a favourite in both domestic and international markets, will remain available nationwide, particularly through its key partners — MRS Holdings, AP (Ardova Petroleum), and Heyden — at market-friendly rates.
The organisation assured the public of a consistent supply of petroleum products, with sufficient reserves to meet domestic demand and a surplus for export, thereby boosting the country’s foreign exchange (FX) earnings.
The refinery also called on marketers to support the initiative, ensuring that Nigerians remain the primary beneficiaries of its effort
Abdullahi Ganduje, the national chairman of the All Progressives Congress (APC), says the ruling party had a debt of N8.9 billion when he assumed office.
Ganduje took over from Abdullahi Adamu, who was the national chairman of the APC until his resignation in July 2023.
Speaking during the APC’s NEC meeting in Abuja on Wednesday, the former Kano governor said the expenses were incurred during pre-election legal battles, election cases, and appeals for legislative, governorship, and presidential elections.
“The current NWC inherited debts and legal liabilities to the total tune of N8,987,874,663, arising from various legal engagements,” Ganduje said.
However, the APC chairman said Kareem Kana, the national legal adviser, has been working to reduce the debt burden.
“We still passionately appeal to the national executive committee to intervene accordingly,” he said.
Earlier today, the chairman said the party is making efforts to mend internal divisions and bring aggrieved members back into the fold.
Ganduje explained that the APC had initiated high-level discussions among party leaders and stakeholders to address lingering disagreements and strengthen party unity.
The Economic and Financial Crimes Commission (EFCC) has arraigned Jude Okoye, the elder brother and former manager of Paul and Peter Okoye of the defunct music group, P-Square, on charges of laundering ₦1.38billion, $ 1 million and £34,537.59.
Jude was arraigned alongside his company, Northside Music Ltd, before Justice Alexander Owoeye of the Federal High Court, Lagos, on a seven-count charge
One of the counts read: “That you, Jude Okoye Chigozie and Northside Music Ltd sometime in 2022, in Lagos, within the jurisdiction of this Honourable Court, did directly acquire a landed property known as No 5, Tony Eromosele Street Parkview Estate, Ikoyi, Lagos worth ₦850,000,000.00 (Eight hundred and fifty million naira) only, which money you knew or reasonably ought to have known forms part of proceeds of unlawful act and thereby committed an offence contrary to Section 18 (2) (d) and punishable under Section 18 (3) of the Money Laundering (Prevention and Prohibition) Act, 2022.”
Another count read: “That you, Jude Okoye Chigozie and Northside Music Ltd sometime in 2022, in Lagos, within the jurisdiction of this Honourable Court, did indirectly using bureau de change convert the sum of $1,019,762.87 (One million nineteen thousand, seven hundred and six-two dollars eighty-seven cents), domiciled in Access Bank Plc operated by Northside Music Lid to the naira equivalent and remitted into various bank accounts with the intention of concealing that the said fund form part of the proceeds of an unlawful act and thereby committed an offence contrary to Section 18 (2)(a) and punishable under Section 18 (3) of the Money Laundering (Prevention and Prohibition) Act, 2022.”
He pleaded “not guilty” to the charges.
In view of his plea, the prosecution counsel, Larry Peters Aso, applied for a date for hearing as well as for the remand of the defendant in the correctional facility pending trial.
The defendant’s counsel, Inibehe Effiong, informed the court of a pending bail application. He asked for a short date for the hearing. Effiong also asked that the defendant be remanded in the EFCC’s custody pending the hearing of the application.
Aso objected to the request for the defendant to be remanded in the EFCC custody. He argued that the EFCC custody was already congested with suspects awaiting arraignment. He urged the court to remand the defendant to the correctional facility since he had taken his plea.
Justice Owoeye adjourned the matter till February 28 for bail hearing and April 14 for trial.
He also ordered that the defendant be remanded in the Ikoyi correctional facility.