Connect with us

News

UNGA: US commits $320m in mortgage, SMEs in Nigeria

Published

on

The United States Chamber of Commerce has expressed its willingness to invest about 320 million dollars in mortgage refinancing and Small and Medium Enterprises (SMEs) in Nigeria.

This is contained in a statement issued by spokesperson of Vice-President Kashim Shettima, Mr Stanley Nkwocha.

Ms Nisha Biswal, the Deputy Chief Executive Officer of the U.S. International Development Finance Corporation, made this known on Monday.

The News Agency of Nigeria (NAN) reports Biswal spoke at a US-Nigeria Executive Business Roundtable hosted by the US Chamber of Commerce as part of activities at the ongoing 79th Session of the United Nations.

She explained that with a portfolio of one billion dollars, the chamber would invest 200 million dollars in mortgage refinancing in Nigeria.

” Also the sum of 100 million dollars has been earmarked for FCMB to finance SMEs in Nigeria, with particular interest in women empowerment.

” The US Chamber of Commerce also announced that 20 million dollars has been approved for a firm, Robust International, for processing of cashew nuts in Nigeria.”

Biswal emphasised that the American Chamber remained committed to working with Nigerians in the development and pursuit of sustainable economic policies.

Responding, Vice-President Shettima, who is leading the Nigerian delegation at the ongoing United Nations General Assembly (UNGA), reiterated President Bola Tinubu’s commitment to investor-friendly policies.

” I urge you to give Nigeria the benefit of the doubt. The current administration led by President Bola Tinubu is the most investor-friendly administration in the history of Nigeria.

” When fuel subsidy was an albatross around Nigeria’s neck, President Tinubu, from day one, hit the ground running by withdrawing the fuel subsidy and unifying the multiple opaque foreign exchange markets.”

ALSO READ:  USAID and OCP Forge Partnership to Revolutionize African Agriculture

Earlier, the Minister of Foreign Affairs, Amb. Yusuf Tuggar, led other members of the delegation to brief the Vice-President on the activities and itinerary lined up for him in New York.

Tuggar, while outlining the programmes and activities, said that the Vice-President was expected to deliver President Tinubu’s national statement at the General Debate of the UNGA.

He added that apart from President Tinubu’s national statement delivery, Shettima is also expected to meet with the Secretary General of the United Nations.

Similarly, aside other heads of states lined up to meet with the Vice-President, there are also scheduled meetings with the head of the African, Caribbean and Pacific States.

Shettima will also meet with the President of the World Trade Organization (WTO), Dr Ngozi Okonjo-Iweala; Director-General of the International Atomic Agency, and multinational companies, among others.

Also on the itinerary of the Vice-President is a meeting with the Bill and Melinda Gates Foundation and a host of other international partners. (NAN)

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Middle Belt Forum Praises Bishop Kukah, Prof Qurix On Appointments As Pro-Chancellor, Vice-Chancellor

Published

on

By Amos Tauna, Kaduna

The Middle Belt Forum, Kaduna chapter, has expressed its commendation for the recent appointments of Bishop Mathew Hassan Kukah of the Catholic Diocese of Sokoto and Prof. Qurix Williams by President Bola Tinubu as Pro-Chancellor and Vice-Chancellor of the Federal University of Applied Sciences, Kachia, Kaduna State.

In a statement released by the forum’s Public Relations Officer, Eld. Yusuf Solomon Danbaki, it was emphasised that their appointments are well-deserved and serve as a testament to the exceptional leadership, dedication, and contributions of these distinguished individuals to education and national development in Nigeria.

The statement highlighted that Bishop Mathew Hassan Kukah, the Catholic Bishop of Sokoto Diocese, is a globally respected intellectual, peace advocate, and voice of reason. His unwavering commitment to justice, equity, and the advancement of education has garnered him admiration across Nigeria and beyond.

As Pro-Chancellor and Chairman of the Governing Council, Bishop Kukah’s visionary leadership is anticipated to guide the university towards becoming a centre of academic excellence and innovation, the statement noted.

Regarding Prof. Qurix Williams Barnabas, the statement described him as an accomplished academic and administrator who brings a wealth of experience and expertise to his role as Vice-Chancellor. It stressed that his distinguished career in academia and research, along with his passion for institution-building, positions him as the ideal leader to steer the university towards fulfilling its mandate of fostering applied sciences and technological advancement.

The Middle Belt Forum, Kaduna Chapter, commended President Bola Ahmed Tinubu for these strategic appointments, which reflect his administration’s commitment to recognising and harnessing the immense human resources within the Middle Belt region.

ALSO READ:  Ensuring Peaceful Coexistence: Governor Fubara Urges Muslim Clerics To Preach To Herdsmen

The Forum extends its profound gratitude to the President for his foresight and urges him to continue identifying and appointing more capable leaders from the Middle Belt to key positions in his administration. It remarked that the Middle Belt region is rich in highly skilled, visionary, and dedicated individuals eager to contribute to the nation’s growth and development, asserting that Bishop Kukah and Prof. Qurix exemplify the talent and potential that abound in the region.

“Their appointments are not only a source of pride for the Middle Belt but also a call to action for other leaders to recognise and utilise the region’s vast human resources,” the statement affirmed.

The forum believes that as the Federal University of Applied Sciences, Kachia, prepares to admit its first cohort of students in September 2025, the leadership of Bishop Kukah and Prof. Qurix will position the institution as a hub of academic excellence, cutting-edge research, and innovation. Their appointments align perfectly with the Renewed Hope Agenda, and the forum trusts that they will lay a solid foundation for the university’s growth and impact.

Consequently, the Middle Belt Forum, Kaduna Chapter, pledges its full support to Bishop Kukah, Prof. Qurix, and the entire university community as they work to transform the educational landscape of Southern Kaduna and Nigeria as a whole.

Continue Reading

News

Demolition: Wike threatens to sack FCDA boss over poor hàndling of compensation

Published

on

Minister of the Federal Capital Territory (FCT), Mr Nyesom Wike, has threatened to sack the acting Executive Secretary of the Federal Capital Development Authority, Mr Richard Dauda.

Wike gave the threat in Abuja on Monday, during a meeting with community leaders of Gishiri village, Katampe District, Abuja, whose part of houses were demolished to make way for a road project.

He explained that the threat was over Dauda’s poor handling of the relocation and payment of compensation to the affected persons.

Trouble for Dauda began when the Youth Leader of the community, Adamu Umar, told the minister that the FCDA officials allocated a swampy area to them, different from the one he approved.

Another resident, Miss Juliet Jonah, also complained that some of the affected houses were valued as low as N72,000, asking, “can N72,000 build a house in this current economy?”

The minister who could not hide his disappointment, asked Dauda why he allocated a different location from the one he approved?

Although Dauda refuted the claim, stressing that the area was not swampy, the visible furious minister warned him against giving government a bad name.

“Let me warn you now. I will sack you. You want to go and take the land? You can’t try that.

“You cannot take me to a place to relocate the affected persons, I told them about it, and now you are saying it is not enough. Have you come to tell me?

“This rubbish must stop. Don’t give the government a bad name. Moreover, you are an indigene of Abuja,” he said.

ALSO READ:  USAID and OCP Forge Partnership to Revolutionize African Agriculture

Wike promised to revisit the location to see for himself and assured the affected persons that the matter would be resolved.

He also explained that the amount each person would receive as compensation would be based on how the house was valued.

He said that the FCT Administration had no intention of making anybody suffer, stressing that the government was working for the interest of the people.

“The essence of President Bola Tinubu’s administration is to renew the hope of Nigerians and not to make anyone suffer.

“The road is not for Wike but part of efforts to open Abuja and make it one of the best cities in the world,” he said.

He explained that the funds for the payment of the compensation had been increased from N655 million to N1.3 billion, considering the current economic realities.

He said that the initial amount was based on the official government rates for compensation depending on the value attached to any demolished property.

The minister also warned Dauda against selective compensation of the affected persons on grounds of indigenisation.

According to him, the government does not pay compensation based on where people come from; compensation is paid based on who has property at the affected site.

“I am hearing that you said you will not pay certain people because they are non-indigenes. The day I will hear it again you will tell how you became an indigene.

“What do you mean by non-indigene? What kind of mentality is this? I don’t know where this is coming from.

ALSO READ:  Nigerian Senate Achieves Impressive Legislative Milestones In One Year - Leader

“I built a house; or I built a store, and a road is passing there, and you are telling me that I am not entitled to compensation because I am a non-indigene. How does this sound?”

Wike, who said “I won’t take that rubbish”, ordered Dauda, who was supervising the payment of the compensation and relocation of the affected persons to everybody that was affected.

“Go and pay people their money as approved. If you are doing anything on the contrary and I find out, you will regret it,” he said.

Verifying the payment record, the minister noted that the N72,000 had been increased to N145,000 following the increase of the compensation fund.

He added that another person that was supposed to get N7 million would now receive N14 million, while a school that was initially supposed to receive N49 million would now receive N99 million. (NAN)

Continue Reading

News

24-hours After Fubara Serves With Impeachment Notice, Explosion Hits Trans-Niger Pipeline in Rivers

Published

on

An explosion has occurred at the Trans-Niger Pipeline in Bodo, situated in the Gokana Local Government Area of Rivers State, about 24-hours After the State House of Assembly served an impeachment notice on Sim Fubara and his deputy.

The affected section of the pipeline is currently ablaze, with the precise cause of the explosion remaining unclear, according to reports.

Authorities are investigating whether the incident was the result of human intervention, particularly given recent threats from militant groups to target oil infrastructure.

These threats were issued in response to the Federal Government’s decision to withhold Rivers State’s allocation amid the ongoing political crisis.

The explosion reportedly took place on Monday night along the vital pipeline, which is responsible for transporting crude oil to the Bonny Terminal.

ALSO READ:  JAMB registers 11,902 candidates in Jigawa
Continue Reading