Lagos Governor, Mr. Babajide Sanwo-Olu, has reiterated his administration's commitment to providing a friendly environment for investors, particularly multinationals from the United States and Africa, to invest in the State. 

He said Lagos is open and ready for investments and therefore urged foreign and local investors to see the State as an investment attractive destination, noting that his administration is willing to do what is expected of the government to create a conducive environment for business to thrive.

Governor Sanwo-Olu spoke during a courtesy visit by the Corporate Council on Africa led by its President/CEO, Ms. Florie Liser at the Lagos House, Marina, on Saturday.

He said: “The world is actually moving and it is moving very fast. And it is no longer news that if the world wants to move, Africa is where that movement can happen. For us in Lagos, we are ready and our government is open.

“We have a city to run, a massive subnational that’s bigger than some other African countries. We are striving to make the city livable, resilient and equally competitive with other cities in the world and when we see ratings and outcomes of global rankings, we are excited. What it does for us is that it makes us also work harder because nobody is slowing down.

“This government is certainly committed. We are pushing on all the verticals of our economic agenda. We are trying to make life more meaningful for our citizens. We are trying to galvanize all the opportunities that are here. Lagos is open; it is ready and it is really for people to see it, smell it, and make the right call. The call is to see it as an investment attractive destination. And whatever you want us to do as a government, we are always willing to do it.

“We are happy that you have come on a courtesy visit. We are willing to grow the partnership. My government is open and willing to engage further in whatever form that can make your members feel confident that the government is helping and willing to help investments. The number is here, people are here and the environment is here. Let us create a mutual government-to-business and business-to-government relationship.”

Speaking about his administration's achievements in line with the THEMES+ developmental agenda, Governor Sanwo-Olu said his government has intervened and created several intentional opportunities in critical areas such as public transportation, health, education, technology and entertainment.

Governor Sanwo-Olu also expressed his excitement about the Red Line rail, which is expected to be inaugurated by President Bola Tinubu on Thursday. He said he is excited that his administration, which started the project, is going to hand over the infrastructure to the public.  

He said the train service, which is expected to carry hundreds of thousands of Lagosians from one destination to another, is one of the ways his government can make Lagos livable for the residents of the State.

Speaking earlier, Ms. Liser, said the Corporate Council on Africa, which is a business association with members of both United States and African multinationals, is willing to partner with Lagos State Government in energy, power, infrastructure, agro-business, technology, trade and finance, among others. 

Liser, who disclosed that they are excited to be in Lagos for a trade and investment mission, commended Governor Babajide Sanwo-Olu's administration for his laudable achievements in the State, especially the Red Line project.

She also praised the State Government for focusing on fintech, health and driving investment into Lagos State. 

Liser also invited Governor Sanwo-Olu to the CCA Africa business summit holding in Dallas, Texas on May 6-9 for him to address the summit on what he has done as the Governor of Lagos State.

SIGNED

GBOYEGA AKOSILE

CHIEF PRESS SECRETARY

25 FEBRUARY 2024

 All the gates that are standing against you will crash today in the name of Jesus! And the gates of heaven - life, prosperity, favour, grace, opportunities, healing and breakthrough are opening for you. While the gates of hell – opposition, failure, disappointment, enemies, sicknesses and death will close. Yes, you cannot enter or exit circumstances, positions without going through the gates.  Everything about life is a function of gates. The decisions about life and death take place at the gates. Remember the word of God said that the battle is at the gates. And that is why bible talks about the gates of heaven and the gates of hell. If the gates (powers, doors and windows) of heaven open for you, you will be blessed on earth. And if the gates of hell are unleashed against you, my dear you will sure need an urgent divine intervention to overcome them. You are where you are today because of the activities of these gates. Thank God that Jesus assured us that those rampaging gates of hell will not, never prevail against us. You must get my book / audiobook Power of Midnight Prayer immediately to have a deeper insight into the locations, operations and the powers of these two opposing gates and how their activities affect us. I called it there crashing the gates!

    But here, let’s limit ourselves to the gates of Jericho, “Now the gates of Jericho were tightly shut because the people were afraid of the Israelites. No one was allowed to go out or come in.  But the LORD said to Joshua, ‘I have given you Jericho, its king, and all its strong warriors.” Joshua 6:1-2. Are there people like that today? Nothing good, no favour is coming in or going out of their life. Everything around them is stagnant. God told Joshua and the Israelites that he had given them Jericho and everything in it, but when they approached, the wall was too high and the gates tightly, securely, firmly shut. Nothing, nobody, no goods and services were going in or coming out of the city. They knew that the Israelites were around and they didn’t want to give them any chance. The enemy has made things very difficult for you because he knows and understands God’s plan for you. True. He heard the divine promises for your life. He is aware of your confessions, ambitions, prayers and efforts to reach your goal and destiny, hence, his determination to frustrate, block and if possible destroy you and your plans.

   Yes, he did same to Jesus. He knew about Jesus’ mission and wanted Joseph to disown Marry and the baby in the womb, so that they would label the child a bastard. When he was about being born, there was no place for him except the animal’s pen. When he was eventually born, the jealous and wicked Herod killed hundreds of children, targeting him. But he divinely ‘escaped’. And throughout his life and ministry he struggled with the gates and powers of hell. The enemy struggled to oppose, discredit and destroy him. Even at the cross, he almost missed it. When he was buried the same gates of hell sealed his tomb and mounted soldiers there, but the power of God overruled. Thank God he eventually fulfilled his mission and ascended gloriously. This is also how the enemy goes after all of us. But today, God is saying that he has given you the keys to open the gates and also the power to bind and crash those ones that are against you. 

Seven Times

   God told Joshua and the Israelites that they must march round the city of Jericho once a day for six days with seven priests walking ahead of the Ark, and seven times on the seventh day. My God! There are so many things, blessings that God has given to us that we must have to act before we take actual possession. True. Yes, Joshua had the divine encounter and assurance with the commander of the LORD’s army, but the Israelites will still have to march in obedience. You have the prophecy, the vision, the dream and the promise, but you must also act and do something towards that vision. And not just doing something, you must act on time and in total obedience to the divine instructions and plan if you want to be successful. Every divine promise has a divine plan, road map to bring it to pass. You must find and follow it to succeed. Now, seven is the number of completion and rest. From now you will have rest from those your struggles in the name of Jesus! God rested at the seventh day of creation.  Yes, we can have rest here. We must not struggle throughout life. No. God can give you rest, prosperity and victory right here.

    There is something divine about this number seven. And can we scratch it a little here? Jacob was to serve seven years to be able to obtain his dream wife Rachel. The famine and the time of plenty at the time of Pharaoh and Joseph were to be seven years each. And the king’s dreams were also seven fat cows, seven thin cows, seven heads of grain, etc. Elijah after the decisive battle of Mount Carmel prayed seven times before the rain came. Are you listening? I love that encounter so much. When your prayer, sacrifice and obedience are complete, the rain will pour down in torrents. You also remember that Elisha told Naaman to dip himself seven times in the Jordan River to be healed of his leprosy.

Governor Babagana Zulum of Borno State on Sunday, says he has done his best for internally displaced persons and vulnerable residents threatening to join terrorists in the forests.

Earlier in the week, some IDPs who lamented over the widespread hardship in the land, said they were considering joining the sect wooing them.

But while addressing some IDPS, at Mafa, on Sunday, Zulum expressed displeasure over the action, warning that those who intend to go back to the forest to realise that there is no second chance.

“Yesterday, I received a report that some IDPs in Dikwa have protested that they will return to the bush because we could not provide food to them. This afternoon, others in Mafa have also done the same,” Zulum said.

“In the last couple of years, we have consistently provided food to internally displaced and vulnerable people. Believe me, what we are doing is even beyond our capacity. In the last four years, the Government of Borno State spent nothing less than N40bn to provide food and non-food items to the people of the State.”

“No government, be it state or federal, has the capacity to provide food to everyone and let me categorically state that I cannot do more than this. The hardship we are facing is not only in Borno State, but all over Nigeria. There are economic crises in all parts of the world. No state in Nigeria is doing better in the distribution of palliative than Borno.

“We distributed food to IDPs and vulnerable communities every quarter. However, with the improvement in the security situation, we decided to reduce the number of our distribution because people have started earning their livelihood.

“Most of you here (more than 80%) now have access to agricultural land, and I believe you have cultivated your farmlands and harvested your farm products.

“Both State and Federal governments spend huge amounts of money on security. We have realised substantial progress in terms of development and terms of security. Let me be frank with you that we will not condone mischievous activities. If you think life in the bush is better than living here, you can go.”

The Governor expressed gratitude to the federal government for providing the needed support to attain substantial peace in Borno State.

A former Member of the House of Representatives, Dr Usman Bugaje, has said President Bola Tinubu’s loyalists who served with him when he was Lagos governor misled him on the post-Niger coup crisis.

Some of Tinubu’s loyalists from Lagos who are also in the presidency have been dubbed ‘Lagos Boys’.

Bugaje, who represented the Kaita/Jibaya Federal Constituency of Katsina state from 2003 to 2007 said the Lagos Boys exhibited arrogance and failed to consult experts before advising Tinubu to threaten Niger after the coup.

Recall Nigeria’s neighbouring nation, Niger experienced a coup that ousted President Mohamed Bazoum on July 26, 2023.

Gen. Abdourahamane Tchiani, who served as the commander of the Nigerien presidential guard has taken over since then.

President Tinubu, the Chairman of the Economic Community of West Africa (ECOWAS) sent a delegation to the Niger’s junta seeking the return of the democratically elected government but efforts put abortive.

The ECOWAS chair also issued threats of using military force to end the military takeover but Tchiani did not bulge.

Tinubu, after several efforts failed, closed the Niger-Nigerian border, and cut electricity, medicine, and others.

Speaking about how the Nigerian government handled the Nigerien crisis, Bugage who just returned from the coup-hit nation said Tinubu acted beyond the ECOWAS brief.

Bugaje, former House Chair on the Foreign Affairs Committee disclosed this in an interview with Trust TV.

“The social media says that ‘Lagos Boys’ know everything. So, maybe this is the arrogance they came with. They think and don’t consult; whatever it is,” Bugaje said.

“I want us to see that as a country we have violated the norms, we have done things that are far beyond the ECOWAS brief, and that has created a lot of negative reactions from Niger.”

Based on his interactions with Nigeriens when he visited their country, the ex-federal lawmaker said, “Niger is taking these things with a lot of humility and decorum; and they are still saying that despite what you people have done to us, we still see Nigerians as our brothers, we still see these colonial boundaries as artificial, not barriers.”

After the meeting over the weekend, ECOWAS has lifted sanctions imposed on the three Sahel junta-led nations – Niger, Mali and Burkina Faso.

Says Claims Are Speculative & Protests Legally Questionable

The Nigeria Labour Congress (NLC) has alleged that the government has perfected plans to launch attacks against the two-day nationwide peaceful rallies it scheduled for 27 and 28 February.

NLC President Joe Ajaero made the allegation in a statement he signed and made available to journalists on Sunday in Abuja.

In a swift response, however, the federal government has denied the allegation describing it as “speculative.”

The Special Adviser to the President on Information and Strategy, Bayo Onanuga, said by raising the allegation, “NLC is feeling guilty in hatching its hidden agenda influenced by partisan considerations.”

Mr Onanuga who spoke to the News Agency of Nigeria (NAN) on the alleged attack, said the planned protest is illegal as it is against a subsisting order of court.

He said the NLC had a hidden agenda because most of the issues raised by labour for embarking on the protest had been addressed by the government.

Mr Ajaero in his statement titled, “As the State Prepares to Unleash Violence on us” alleged that one of the groups being primed to attack the peaceful rallies is by a nebulous name, Nigeria Civil Society Forum (NCSF).

“NCSF is one of the emergency groups put together, funded, promoted and remote-controlled by government to cause violence against our members for electing to peacefully protest against the hunger in the land.

“We would want the State to know that the solution to our horrible economic situation and hunger is not by suppressing peaceful dissent or inflicting violence on peacefully protesting citizens,” he said.

Mr Ajaero insisted that the NLC and its civil society allies were moving ahead with the protest rallies against economic hardship and insecurity in line with the decision of the National Executive Council.

“As citizens, we have a fundamental right to peaceful protest and history bears us witness that our protests are always peaceful except in instances of State-engineered violence.

“In light of this, we advise the State to put on its thinking cap and find solutions to the pains it continues to cause the people instead of further dehumanising them,” he said.

Mr Onanuga, however, insisted that the issues raised by the labour union had been addressed by the government, including the payment of a wage award of N35,000 monthly for six months.

He said the money had been paid to civil servants up till January 2024 and only that of February is outstanding.

The president’s aide said the federal government had inaugurated a 37-member Tripartite Committee on National Minimum Wage to review and come up with an acceptable and sustainable Minimum Wage for Nigerian Workers.

He said the government had made substantial financial commitments on the provision of CNG Buses and Conversion Kits.

According to Mr Onanuga, the buses will be rolled out very soon to alleviate the transportation challenges being faced by Nigerians.

The Chairman of the Economic and Financial Crimes Commission, Mr Ola Olukoyede, says in less than 100 days of his assumption of office, the anti-graft agency received over 5,000 fraud petitions and recovered N60bn loot.

Of the 5,000 petitions, he said the EFCC had approved 3,000 for investigation.

President Bola Tinubu appointed Olukoyede EFCC chairman on October 12, 2023.

He replaced Abdurasheed Bawa, an appointee of ex-President Muhammadu Buhari, who was suspended, detained, and booted out of office by Tinubu.

Olukoyede, speaking on Saturday in Lagos as the guest lecturer at the 20th-anniversary lecture of the Human and Environmental Development Agenda Resources Centre, said the EFCC had recovered over N60bn and $10m, in less than four months since he assumed office.

He said, “When we set out to investigate, people see it as a fight between EFCC and the rest of us. It should not be so. How much will the EFCC do?

“How much will the ICPC do with its staff strength? I have less than 4,800 staff. I am talking of an agency that is serving people who are over 150 million.

“All we have to do is investigate and present the facts before the court. I will not be the one to give judgment. That is where we have collective responsibility. When you see something, you say something

“The issue is we are working as if we are not working. Upon my assumption of office between then and now, I have received over 5,000 petitions. I am not talking of just the one we received, but the one that we have checked and we discovered that there was substance in it. That is just for one agency, the EFCC.

“As I am talking to you I have approved the investigation of over 3,000 cases in less than four months, but what is our capacity? How many staff do we have? What resources do I have access to?

“In less than four months, we secured convictions of 700 and recovered over N60bn and over $10m.

“If I am able to recover over N60bn in less than 100 days, you can imagine how much has been stolen.

“I can tell you that for the billion that has been recovered, a trillion has been stolen.”

On his part, the Chairman of HEDA, Mr. Olanrewaju Suraju, noted that the anti-corruption fight had been challenging and urged all Nigerians to join the fight.

“We need an effective policing system with integrity, then the court must not continue to discharge persons with corruption cases still hanging on their necks,” Suraju said.

The Nigeria Customs Service (NCS) has launched an investigation following reports that a stampede during its discounted rice sale in Lagos left numerous people dead.

Eyewitnesses said chaos erupted on Friday at the Customs zonal office in Yaba as huge crowds scrambled to purchase bags of seized foreign rice being sold at N10,000 each, significantly below market cost.

In the ensuing stampede, no fewer than 7 persons were said to have been trampled to death while dozens more were injured. Customs authorities admitted the scenes were chaotic but blamed lack of patience by the crowds.

The Lagos chapter of the All Progressives Congress (APC) confirmed that one of its female members, Comfort Funmilayo Adebanjo, died in the incident while trying to buy the subsidized rice.

The rice sale was flagged off across NCS offices by the Customs boss, Col. Adewale Adeniyi (Rtd.) last week to ease economic hardship brought on by rising food costs. But the exercise has been marred by poor crowd control, casting doubts on its continuity.

Lagos Customs says it has kicked off an investigation to determine what led to the deadly stampede in Lagos to forestall a repeat as the rice sales continue in other locations.

The President and Chairman of the Board of Directors of the African Export-Import Bank (Afreximbank) has debunked claims that the $3.3b loan that the Nigerian National Petroleum Corporation Limited (NNPCL) acquired from the bank will be repaid with an interest rate of 12%. He said the loan is one of the best priced loans on the market with 6% margin.

Oramah revealed this in an exclusive interview with ARISE NEWS anchor, Ojy Okpe, describing the allegations of repaying the $3bn Loan with $12bn as ‘ridiculous’. He said the loan was very effective in helping FX shortage and stabilise the financial system.

During the interview, Oramah was asked about the nature of the loan, of which the NNPC has received $2.25 billion of the agreed $3 billion in a bid to stabilise Nigeria’s foreign exchange. He replied, “Well, the interest rate on the loan carries a margin of 6.0% per annum above the 3-month secured overnight financing rate (SOFR) that is the base rate which governs the cost of funds, so to say. So, if Afreximbank wants to lend money, any other person wants to lend some money, dollars, you start from there and it stays, then you add your margin. And the margin we have I think is 6%, and this loan is a seven year loan. Actually, it is one of the best priced loans in the market today.

“We’re not talking about three years ago, four years ago. We’re talking of today where interest rates have gone up, and we’re just hoping that inflation will go down globally so that rates can start going down. And in fact, if those rates start going down, the interest rate of this loan will start also going down. So that’s what I thought about it, about the pricing of the loan.

“And it’s transparent, there’s nothing to hide about it, and anybody who wants to compare it can compare it against the yields on the Nigerian bonds trading today.

Responding to Nigerians questions and misgivings regarding the loan, Oramah clarified that the loan is effective as he said, “It actually helps acute FX shortage. And you know there are things people do not know, maybe government will not be saying it, but I’m at liberty because we have a justification for doing what we did. It actually helps us stabilize the financial system.”

He went on to say, “It’s the job of government to do what they know is right actually. Of course, it’s good for the people to criticise ask questions and all that. But I just think that sometimes, people who are criticizing also have to be reasonable. You don’t have to go to the municipal and start telling stories, because if you genuinely want an explanation and you asked, for example, for us, we never got anybody right to us saying explain this to us.

“We’re not hiding anything. If anybody came and we thought we should, if it’s not a confidential matter, because everything we do is confidential. And by the way, we are not the only lender, there are other lenders. So, if it’s something that we believe we should explain, we explain.

The Afreximbank President then spoke about the Memorandum of Understanding he had signed with the Nigerian Health ministry to provide a $1 billion facility that would finance a contribution pool for private investors who want to invest in Nigeria’s health sector value chain.

Giving his reasoning behind this, he said, “I always believed that health care is human right. Every person on this earth should have access to good health care, because that is what makes you to live a wholesome life. It is not what we should just reserve for the very rich and mighty.”

The Senior Special Assistant to President Bola Tinubu on New Media, O’tega Ogra, has faulted the 2023 presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, for comparing the economy of Nigeria to Argentina.

Naija News reported that Atiku had urged President Bola Tinubu to learn from the approach to economic reform taken by Argentina’s President, Javier Milei, for Nigeria’s economic reforms.

In a statement on Sunday, Atiku emphasized that Tinubu and Milei inherited a disoriented economy, but each applied different measures for recovery.

Reacting to Atiku’s statement in a post via his official X handle on Sunday, Ogra said Nigeria is not Argentina and President Tinubu is not President Milei, stating that both nations are incomparable.

The presidential aide said the economic situation in Argentina is gloomy and berated Atiku for criticizing the Tinubu administration while glorifying the dire situation in the South American country.

He asserted that President Tinubu is working hard to address the economic hardship in the country and diligently working towards a prosperous, stable, and inclusive Nigeria.

He wrote: “Respectfully, VP Atiku (1999 – 2007) sir, I come again.

“I would like to start by first saying – respectfully, that Nigeria is not Argentina, and President Tinubu is not the President of Argentina.

“To those who may be enchanted, just like our former VP, by the ‘Argentina Miracle’ he quoted, see below the January data of the situation Alh. Atiku praised and says he would have put on Nigerians – had he been 7th time lucky at his shot at the presidency which wasn’t successful.

“I, therefore, advise a closer look at the data—lest we forget that even a broken clock is right twice a day:

– Argentine Inflation Rates: Jumped to 254% in January 2024 – the highest level since 1990.
– Industrial and construction output in Argentina dropped by 12.8% and 12.2% year-on-year in December, respectively.
– Economic activity in Argentina fell 2.5% year on year according to a Reuters survey.
– Car registrations in Argentina declined by 33% year-on-year in January.
– Retail sales in Argentina fell by 25.5% year-on-year in January.
– Construction activity in Argentina decreased by 28.2% in January.
– Cement deliveries and motorcycle registrations also saw significant declines.
– Halting all public works, freezing public sector salaries and pensions, and eliminating many public subsidies, including for energy and public transportation.
– Tax Increases: Sharp rise in taxes, including import taxes.
– Real Salary Collapse: The real salary of registered private-sector workers in Argentina experienced the largest monthly drop in at least 30 years, with January’s real salaries potentially falling below the levels of the 2001 crisis
– National taxes linked to economic activity across Argentina fell between 15% and 25% annually on a real basis.
– Food sales in retail stores fell 37.1% year-on-year in January.
– Minimum Wage: The current Minimum Living and Mobile Wage (SMVM) is 156,000 pesos per month ($184), with no increase despite high inflation. At least Nigeria is reviewing its own.
– IMF Forecast for Argentina: Predicted a 2.8% recession in 2024.

“This gloomy situation above is the situation former VP Atiku says in his statement that he would have put on Nigerians – had he won. Thank you, sir, for finally telling the Nigerian people what your true plans were. Now we know – stopping salaries, a recession, > 250% inflation, no investment in social security or infrastructure was your plan for Nigerians all along.

“Koko Of The Matter: I honestly appreciate former VP Atiku’s attempt to contribute to the economic discourse, albeit through a remarkably flawed lens. As for my principal – @officialABAT President Tinubu’s administration, we will continue to roll up our sleeves, not to play the fiddle as Rome burns, but to diligently work towards a prosperous, stable, and inclusive Nigeria.

“Alhaji Atiku, your statement is perplexing. Your critique of President Tinubu’s administration, while glorifying Argentina’s dire situation, is akin to applauding the captain of the Titanic for its speed, ignoring the iceberg dead ahead I understand the allure of sensational headlines and the temptation to draw parallels where none exist, but let’s be clear: Nigeria is not Argentina, and President Tinubu is not President Milei.

“Let me be clear: President Tinubu will continue to prioritize the well-being of Nigerian citizens over the theatrics of austerity masquerading as reform.

“Thank you for indulging me once again, sir @atiku.”

[NaijaNews]

Amid the planned protest by the Nigeria Labour Congress (NLC) over the hardship faced by Nigerians, a Senior Advocate of Nigeria (SAN), Femi Falana, has asked the Attorney General Of the Federation, Lateef Fagbemi, to provide security for the demonstrators.

Barring any last-minute change, the NLC will on Tuesday, February 27 and Wednesday, February 28 protest following the dramatic hike in the prices of goods and services due to the removal of fuel subsidy and the free fall of the naira, among others.

The human rights lawyer in a letter dated February 24 and addressed to the Attorney General of the Federation said Section 83(4) of the Police Establishment Act empowers the Minister of Justice to provide security cover for the protesters.

He also called on the organised labour to conduct their scheduled rallies peacefully void of violence.

“While we have advised the members of the NLC to conduct the rallies scheduled for February 27-28, 2024 in a peaceful manner, we urge you to use your good offices to direct the Inspector-General of Police to provide adequate security to the conveners and participants in the protest in line with the provisions of Section 83(4) of the Police Establishment Act,” the letter read in part.

“Finally, while awaiting your favourable reply to this letter, please accept, as usual, the assurance of our highest esteem.”

[NaijaTimes]