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Nigeria’s renewable energy sector open for German businesses — Tinubu
President Bola Tinubu on Wednesday assured German businesses of Nigeria’s readiness to fully implement existing pacts to ease investment in renewable energy, youth skill development and industrial growth.
Speaking during the visit of German President Frank-Walter Steinmeier, Tinubu highlighted ongoing reforms aimed at fostering a business-friendly environment and attracting foreign investment.
These include import duty waivers for machinery, decentralisation of power generation and active foreign exchange reforms.
“We have an open-door policy; ease of entry, ease of exit,” Tinubu said during the press conference that followed closed-door talks, emphasising the removal of bureaucratic bottlenecks in establishing businesses.
He explained: “We have an open-door policy. What do I mean by that? There is no longer bureaucracy in establishing your business. We have tax reforms that are private-sector friendly.
“We have import duty waivers for machinery. We have so many other incentives that we will help establish private businesses. That I can assure you. We are removing the bureaucracy.
“We have a reform in the foreign exchange market, and it’s very active. We’ve aligned our petroleum industry with the world standard practice of production and consumption.”
Both presidents also discussed ways to improve the people-to-people relationships between both countries.
Tinubu revealed: “It was a very good bilateral discussion. I could see from the previous meeting earlier today that our businessmen and policymakers are very anxious to do business with Germany.
“Mine is to continue to assure you that our business doors are open and reforms are working very well. We plan to strengthen the relationship and build a fulfilling and rewarding partnership between the two countries, people-to-people relationships, and government-to-government facilitation of opportunities and prosperity.”
He noted Nigeria’s potential as a major gas producer and its abundant renewable energy resources, such as solar power, which can be harnessed through German technology for rural electrification.
“While we are equally promoting the possibility of alternative energy sources, we pride ourselves on being one of the largest gas producers.
“What we need to do has been discussed, and we need to strengthen the partnership for the utilisation of energy as a source of supply and promotion of additional incremental value in business opportunities for Nigeria and Germany. We’ve discussed that,” said Tinubu.
In electricity, the Nigerian leader warned that though Siemens Energy is “working very hard” to fulfil its part of the partnership, Nigerians should not expect a “magical response” as the existing power infrastructure is decades old.
“Nigeria, being a nation in a hurry, wants a magical response. But don’t forget, those transmission lines are about 50 to 60 years old.
“The snags are what we are trying to improve and reduce the possibility of problems. We are doing that. I’ve signed a reform that decentralised the power distribution and generation in the country. The states and various subsectors and subnationals can generate their power and distribute it; they are working on it all.
“We have German businesses who are promoting alternative sources of energy, and they are here. We have the sun; they have the technology. I think we can utilise that for rural electrification; as mentioned earlier on, we can use the various dams that are not effective. We assure you that we will put these dams to use for the benefit of our people,” Tinubu said.
His comment comes just as the national grid collapsed on Wednesday, the 12th time in 2024.
The President also underscored the importance of youth training, solid minerals, and industrial partnerships in advancing Nigeria’s development agenda.
News
Kalu Leads House Delegation to Ogun for Condolence Visit
…eulogizes late Onanuga, ex-speaker Bankole’s mother
By Gloria Ikibah
Deputy Speaker of the House of Representatives, Rep. Benjamin Okezie Kalu, CON, has described the late Deputy Chief Whip, Rt. Hon. Adewunmi Oriyomi Onanuga, as an irreplaceable parliamentarian known for her vocal nature and friendly disposition.
Leading a delegation on behalf of the Speaker, Rep. Tajudeen Abbas, Kalu visited Sagamu, Ogun State, on a condolence mission to the late Onanuga’s family.
Addressing the bereaved, he praised her dedication and influence, noting her unique presence in plenary sessions and unwavering support for her colleagues.
Kalu consoled her mother, Chief Mrs. Comfort Folashade Etutu, and her children, urging them to trust in God for comfort and strength. He assured the family of the House’s continued support and prayed against further untimely deaths in the household.
Earlier, Kalu led the delegation to Abeokuta for the fidau prayers of the late Mrs. Monsurat Atinuke Bankole, mother of former House Speaker Rt. Hon. Dimeji Bankole.
He lauded her sacrifices, which contributed to the success of her children, including the former Speaker’s contributions to the National Assembly.
News
N800bn Inadequate for Nigeria’s Road Projects, Minister Umahi Tell Lawmakers
By Gloria Ikibah
The Minister of Works, Dave Umahi, has described the N800 billion allocated to his ministry in the proposed 2025 budget as grossly insufficient to address Nigeria’s growing road infrastructure needs.
Umahi stated this during the 2025 budget defence session held on Friday by the House Committee on Works, chaired by Rep. Akin Alabi.
Speaking candidly, Umahi called for an upward review of the ministry’s budgetary allocation, stressing that the current figure would barely make a dent in the nation’s road development agenda.
“We plead with you to help us. N800 billion cannot do anything for us. It cannot address our road needs, and so we plead with you to help us,” the Minister told the lawmakers.
Umahi who emphasised the importance of adequate funding to complete ongoing projects and initiate critical new ones across the country, also stressed that borrowing was a necessary step to bridge the infrastructure gap and stimulate economic growth.
The Minister underscored the potential economic impact of infrastructure development, stating that it would create jobs and boost local economies.
“When the nation is in recession, you have to borrow money and invest in infrastructure. That is how you emerge from a recession. Infrastructure is a catalyst for economic activities, and this hunger we talk about will become a thing of the past,” he explained.
“Food sellers, sand suppliers, gravel workers, and others will benefit. Support Mr. President, and let’s borrow money to build infrastructure so Nigeria can be great again,” he added.
In response, Chairman of the Committee, assured Umahi that the committee would summon the Minister of Finance and the Head of the Budget Office to clarify the rationale behind the ministry’s limited allocation.
The session also provided an opportunity for the Minister to address lawmakers’ concerns about the state of roads nationwide, with assurances that the government remains committed to completing ongoing projects.
News
NASS Joint Committee Suspends Fire Service Budget Over Irregularities
By Gloria Ikibah
The National Assembly Joint Committee on Interior has suspended the budget defence of the Federal Fire Service (FFS) following significant discrepancies in the agency’s 2024 budget performance and 2025 proposal.
At a hearing chaired by Senator Adams Oshiomhole and his counterpart from the House, Chaired by Abdullahi Aliyu Ahmed, lawmakers flagged irregularities, including contradictory figures and inadequate documentation.
The committee uncovered discrepancies in the procurement of firefighting trucks, with similar units priced at N1.5 billion in one instance and N2.5 billion in another, despite being from the same supplier and of identical specifications.
The FFS Controller General, Jaji Abdulganiyu Idris, attributed the difference to variations in tanker sizes but failed to provide adequate supporting documentation.
Senator Oshiomhole criticized the inconsistencies, stating, “This reeks of over-padding or over-invoicing. Your written submission does not align with your explanation, and we cannot overlook this.”
Lawmakers also raised concerns about unclear contract commitments and an outstanding payment of N603 billion for ongoing projects, which lacked proper specifications.
Oshiomhole emphasized fiscal responsibility, saying, “Every N10 wasted by MDAs adds up. Our duty is to ensure that every naira benefits Nigerians, especially the poor.”
The committee further queried the FFS over unverified revenue remittances. Idris presented manual receipts as evidence, but the lawmakers rejected them, demanding proper bank statements and confirmation from the Accountant-General’s office.
As a result, the committee stepped down the FFS budget defence, instructing the agency to rectify its submission. Oshiomhole warned, “Submit a revised presentation with accurate figures, or risk zero allocation in 2025.”
The decision underscores the lawmakers’ commitment to accountability and efficient use of public funds, urging the FFS to address the issues promptly to secure its funding.
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