Hot News in Nigeria Tonight

NetworknewsngSept 6, 2023Read original

President Bola Ahmed Tinubu has told Indian investors not to procrastinate over a $14 billion investment pledge to Nigeria.

On Wednesday, Ajuri Ngelale, the Special Adviser to the President on Media and Publicity, said Tinubu disclosed this during the Nigeria-India Presidential Roundtable in New Delhi on the sidelines of the G20 Summit.

“We are ready to give you the best returns for investment possible; there’s nowhere else like our country. Nigeria offers the best returns for investment today, so invest now.”

Tinubu expressed gratitude to all Indian companies and individuals who have responded positively to his administration’s efforts to improve Nigeria’s macroeconomic and investment climate.

“Do not procrastinate. Don’t be frightened about investments in Nigeria. Bring it on. Ask your questions and make your requests. The trade and investment opportunities are enormous. I have a team, and I am the captain of that team, and I assure you that we solve problems,” the President affirmed.

Prospective investors were informed by the President that in Nigeria, there is no free lunch or shortcuts but that he has “good economic policy for the investors as well as able men and women in leadership and on the ground, who can drive the goal of broad prosperity through investment and infrastructure.”

“I will captain and lead the course of investment, development, and prosperity for the largest democracy in Africa and for investors from the rest of the world,” the President added, reiterating that Nigeria is open for business with intelligent, innovative, capable, and highly committed individuals in government, who are ready to drive the largest economy in Africa to destiny.

The President also told the Summit that “he is proud” that the Nigerian stock market had broken records in its consistent bullishness since he assumed office.

On behalf of investors, the Chairman of Bharti Enterprises, Mr. Sunil Bharti Mittal, told the President, “You have unified the FX market. You have freed up crucial capital to upgrade your public infrastructure. You have just dropped your prepared remarks and spoken from your heart. Our investors have heard from a leader doing everything possible to attract capital to Nigeria to benefit Nigerians and our companies. Mr. President, we will bring these investments to Nigeria, and with your inspiring leadership style, we can only do more and more.”

DAILY POST recalls that Tinubu departed Nigeria for the G20 Summit in India.

The Coalition for Good Governance and Change Initiative (CGGCI) has called on Atiku Abubakar and Peter Obi, respectively, presidential candidates of the Peoples Democratic Party (PDP) and the Labour Party (LP), to support President Bola Tinubu’s ongoing development agenda.

Addressing journalists on Wednesday in Abuja during a solidarity work in support of President Tinubu, the national coordinator of the group, Okpokwu Ogenyi, said both Atiku and Obi should accept the outcome of the tribunal judgement.

He said CGGCI embarked on the solidarity walk to celebrate the mandate of the people willingly given to President Tinubu, which has also been affirmed by the court.

Ogenyi said: “It is a great indication that the world has agreed with the mandate of the Nigerian people that Asiwaju still remains the choice of the people.”

Asked for his message for both Atiku and Obi, he added: “They are Nigerians. But we, Nigerians, refused them the mandate to lead us through the ballot. They should accept the verdict of the court and move on with the President.

“We are saying that Atiku, Peter Obi, and Kwankwaso are all welcome to be part of the administration. All we want is to ensure the success and progress of the Nigerian system, which we believe is going to be attainable under President Bola Tinubu’s administration.”

The group also commended the justices of the Presidential Election Petitions Tribunal for delivering a sound judgement.

Ogenyi added: “It is not a mistake that we are Nigerians by Providence. God Almighty has brought President Asiwaju to liberate Nigerians from suffering. Asiwaju has come with so many promises, and he is fulfilling them.

“Within 100 days in office, he was able to sign the Student Loans Act into law. Within his first 100 days in office, he initiated measures to cushion the effects of the subsidy removal that was done by the previous administration. Within 100 days in office, he was able to diversify the Nigerian economy by creating ministries and assigning them appropriately.

“Within 100 days in office, Asiwaju has continued to take giant strides. The world has come to reckon with Nigeria. The United States of America has invited him for a side talk at the ongoing NUGA game in Portugal. And being the only African leader invited to the meeting. It is a great indication that the world has agreed with the mandate of the Nigerian people and that Asiwaju is the choice of the people.”

The House of Representatives ad hoc committee investigating the failure of the mass transit scheme in Nigeria has summoned the Minister of Finance, Mr. Wale Edun over the failure of the scheme.

Rep. Victor Ogene, the Chairman of the committee issued the summon in Abuja on Wednesday.

Others summoned include; the minister of Trade and Investment, the Accountant General for the Federation, and the Head of Service of the Federation.

According to him, the committee decided to invite the ministers and others to supply it with requisite information regarding previous mass transit schemes in terms of disbursement.

He said the committee was yet to get the document required, saying sequel to that, the agencies were invited to appear before the committee on Sept. 11 and 12 at 11 a.m.

“Additionally, the clerk of this committee is to invite the Managing Director of the Infrastructure Bank to appear on the same day and time.

The chairman of the committee also asked the National Association of Road Transport Owners and the Road Transport Employers of Nigeria to appear before it.

H however warned those concerned not to treat the invitation with levity, adding that failure to come would incur the wrath of the lawmakers thereby invoking its legislative power.

“Let me warn that this invitation is not frivolous, this is an invitation extended to them by the House of Representatives of the Federal Republic of Nigeria.

“And if for any reason, any of them fail to honour this invitation, we shall invoke the full power of this committee as enshrined in the constitution of the Federal Republic of Nigeria as amended, ” he said.

The Abuja Investment Company Limited and the National Union of Road Transport Workers had earlier appeared before the committee where they both made suggestions on how to stop the recurring failure of the scheme.

He said in spite of strike action by the Nigeria Labour Congress and the recess, members were able to make it, adding that it showed the determination of the committee.

“We are determined to carry this assignment through and ensure that previous monies that have gone out to different private operators of mass transit schemes are recovered and properly accounted for.