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United State Affirms Investment For Africa, Nigeria
In a recent address, U.S. Mission Commercial Counselor Julie LeBlanc reaffirmed the enduring dedication of the United States to Africa and specifically Nigeria.
LeBlanc underscored pivotal initiatives such as the African Growth and Opportunity Act (AGOA) and the African Continental Free Trade Area (AfCTA), underscoring the depth of U.S. trade and investment partnerships.
During her discourse, LeBlanc reiterated America’s steadfast commitment to bolstering economic and commercial ties with African nations.
She referenced Secretary of State Anthony Blinken’s recent tour of West Africa, which encompassed Nigeria, Cabo Verde, Cote d’Ivoire, and Angola.
This visit, aimed at fortifying security alliances, health endeavours, and economic progress, underscored the U.S.’s enduring interest in the region.
LeBlanc echoed Secretary Blinken’s assertion that “The future is African,” emphasising the vast prospects and imperative of engaging with Africa.
Reflecting on the preceding year, LeBlanc spotlighted the considerable headway achieved in U.S.-Africa trade and investment.
In 2023 alone, the United States championed and finalised 547 novel deals, tallying an estimated $14.2 billion in bilateral trade and investment with African nations—a striking 60% surge compared to 2022, signifying burgeoning economic interconnections between the U.S. and Africa.
These investments have engendered inclusive growth, fortified supply chains, and engendered high-calibre employment opportunities.
LeBlanc delineated several pivotal milestones, including the International Development Finance Corporation’s allocation of over $2 billion across 46 transactions in Africa.
She also lauded the U.S.-Trade and Development Agency’s facilitation of 15 project preparation grants, harnessing upwards of $3.4 billion in infrastructure financing.
Additionally, LeBlanc underscored the Department of Commerce’s endorsement of nearly $3.6 billion in U.S. exports to Africa and the establishment of new Foreign Commercial Service offices.
Expressing sanguinity regarding the trajectory of U.S.-Africa trade and investment relations, LeBlanc accentuated the U.S. government’s concerted collaboration with African allies and diverse governmental departments.
She cited the U.S.-African Continental Free Trade Area Memorandum of Understanding as a noteworthy initiative.
The U.S.’s allocation of $160 million to bolster the African Continental Free Trade Area underscores its commitment to augmenting trade in goods and services, digital commerce, and bolstering the Women and Youth Protocol of the agreement.
LeBlanc also broached the subject of AGOA’s future, underscoring President Biden’s resolute backing for its renewal and modernisation.
She stressed the imperative of adapting AGOA to contemporary economic realities, acknowledging the fluid transformations in Africa and the global economic landscape.
LeBlanc referenced other U.S. initiatives aimed at amplifying trade and investment, including the Strategic Trade and Investment Partnership with Kenya and the Prosper Africa endeavour, which streamlines business activities in U.S. and African markets.
Shifting the spotlight to Nigeria, LeBlanc acknowledged its pivotal status as one of the continent’s foremost economies.
She cited the bilateral trade exceeding $10.6 billion in 2022 and U.S. foreign direct investment amounting to $5.6 billion, positioning Nigeria as the second-largest trading ally in Africa.
LeBlanc underscored the burgeoning technology-driven collaboration between the U.S. and Nigeria, underlining the significant strides made in fostering innovation and sustainable economic growth.
By Abubakar Yunusa
The Dangote Petroleum Refinery has further reduced the ex-gantry price of premium motor spirit (PMS), also known as petrol, to N835 per litre.
According to sources at the refinery, the plant dropped the price of the petrol sold to oil marketers to N835 per litre, six days after the refinery reduced it to N865 per litre.
“The refinery reduced the price of the petrol to N835 per litre,” a source told TheCable.
The reduction in Dangote petrol price followed an announcement by the federal government on April 9, that the naira-for-crude oil deal will continue after the first phase ended on March 31.
“The stakeholders reaffirmed the government’s continued commitment to the full implementation of this strategic initiative, as directed by the Federal Executive Council (FEC),” the finance ministry said.
“Thus, the Crude and Refined Product Sales in Naira initiative is not a temporary or time-bound intervention, but a key policy directive designed to support sustainable local refining, bolster energy security, and reduce reliance on foreign exchange in the domestic petroleum market.”
On April 15, Farouk Ahmed, chief executive officer (CEO) of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), said the estimated pump price of petrol in Nigeria is less than that of neighbouring countries in West Africa.
Ahmed also said Nigeria’s petrol importation reduced by 29.9 million litres in eight months due to increased contributions from local refineries.
Three suspected herdsmen have been arrested following the attacks that led to the killing of 11 persons at Otobi community in Otupko local government by suspected herdsmen.
Governor Hyacinth Alia disclosed this on Wednesday while briefing journalists at the Government House in Makurdi, the state capital.
He expressed worry over the situation and called on security agencies to track down the perpetrators.
According to Alia, National Security Advisor, Nuhu Ribadu, has promised to deploy more security assets to the State to arrest the renewed wave of attacks in the state, especially the Otukpo axis.
The governor also announced the deployment of security personnel to the affected area, with three suspected herdsmen arrested in connection with the Otobi killings.
According to the member representing Otukpo-Akpa Constituency in the Benue State House of Assembly, Kennedy Angbo, nine corpses were recovered Tuesday night, followed by one in a hard-to-reach area later that evening.
By dawn Wednesday, other corpses were found, bringing the total number of fatalities to 11.
The attack has sent shockwaves through the state, particularly because the Otobi community—home to the Federal Ministry of Water Resources Multipurpose Dam—has now come under assault twice this April.
A security guard was previously killed at the dam site just days before this latest massacre.
Earlier, the governor sent his deputy, Samuel Ode, on an assessment tour to the devastated community.
He offered condolences to the grieving families and reassured residents of the state government’s commitment to tackling the spate of violent attacks across rural areas.
Ode also made some cash donations to carter for some immediate relief while the state emergency management agency has been tasked to move in for needs assessment and provide emergency response to those in need.
The attack on Otobi is the latest in a disturbing string of assaults along the Otukpo-Ado Road, from Okpamaju to Asa One and Asa Two down to the Ebonyi State border.
At least 15 million Nigerians are at risk of flood disasters in 2025, Vice President Kashim Shettima has disclosed.
He made the disclosure at the commencement of a one-day Validation Workshop on the Anticipatory Action Framework for Nigeria held at the National Counter Terrorism Centre in the Office of the National Security Adviser Abuja on Wednesday.
The Vice President, however, said the Federal Government is taking a proactive approach as against a reactive approach to forestall the disaster.
He emphasized the need for collaboration among all the agencies of government at the states and Federal Government level to tackle floods and other disasters in the country.
Some of Maiduguri communities submerged in flood following a leak in the Alau Dam in 2024.
VP Shettima decried that Nigeria loses 5 per cent of its Gross Domestic Product (GDP) to floods.
However, he disclosed that President Bola Tinubu has approved the sum of N15 billion to be released for emergency responses.
The Vice President, who also condemned the recent heinous attacks in Plateau state, expressed the sympathy of President Bola Tinubu to the affected families.
He, however, advocated a non-kinetic approach to tackling the security challenges on the Plateau and North-East.
According to him, “There can never be a military solution to the crisis in Plateau, North-East.”
Last week, the Federal Government predicted heavy rains and floods in 30 states and the Federal Capital Territory (FCT), Abuja.
The high-flood risk states are: Abia, Adamawa, Akwa Ibom, Anambra, Bauchi, Bayelsa, Benue, Borno, Cross-River, Delta, Ebonyi, Edo, Gombe, Imo, Jigawa, Kebbi, Kogi, Kwara, Lagos, Nasarawa, Niger, Ogun, Ondo, Osun, Oyo, Rivers, Sokoto, Taraba, Yobe, Zamfara and the Federal Capital Territory.
The Minister of Water Resources and Sanitation, Joseph Utsev, said coastal and riverine flooding would be experienced in some parts of the South-South geopolitical zone of the country due to a rise in sea level.
Among these states are Bayelsa, Cross River, Delta, and Rivers while Akwa-Ibom and Edo fall under the high-flood risk states.