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President Bola Tinubu has condemned the reprehensible acts perpetrated by kidnappers across the country, declaring that individuals involved in such despicable crimes must be treated as terrorists.
The President made the declaration on Tuesday at a Ramadan dinner with members of the Federal judiciary led by the Chief Justice of Nigeria (CJN), Justice Olukayode Ariwoola.
The dinner was attended by serving and retired judicial officers, including two former CJNs, Justice Mahmud Mohammed and Justice Walter Onnoghen.
Reiterating the government’s resolve to defeat banditry, the President said those who resort to kidnapping children are cowards, incapable of confronting the might of the Nigerian Armed Forces.
President Tinubu, in a statement by his spokesman, Chief Ajuri Ngelale, was quoted as saying, ”We must treat kidnappers as terrorists. They are cowardly. They have been degraded. They look for soft targets. They go to schools and kidnap children and cause disaffection. We must treat them equally as terrorists in order to get rid of them, and I promise you we will get rid of them.”
On the review of salaries of judicial officers, the President pledged that his administration would continue to implement necessary reforms to improve the welfare and working conditions of judicial officers.
He said, ”I recognize that the judiciary has one of the most unrewarded responsibilities. They are yet to modernize equipment and recordkeeping, and their progress towards improvement is slow.
”When you look at the career path of a judicial officer, they cannot practice the vocation for which they were trained after retirement.
”While the framers of the law may have their reasons, I perceive this differently and see this from a fair compensation angle that should benefit all.”
President Tinubu expressed gratitude to the judiciary for their dedicated service to the nation, acknowledging their role in upholding the respectability of the judicial arm of government.
“We will continue to support one another and bring Nigeria to that glorious dawn,” the President concluded.
The Chief Justice of Nigeria commended the President for the honour of hosting judicial officers to a Ramadan dinner, his commitment to judicial reforms, and for improving the welfare of judicial officers in the country.
“May the Lord continue to bless you and your administration. Let your ship land and berth beautifully. We shall continue to pray for your administration because there are many good things in the pipeline for Nigerians,” he prayed.
Justice Ariwoola commended the administration for achieving a significant milestone by appointing a full complement of 21 justices to the Supreme Court, a feat he described as unprecedented.
Lateef Fagbemi, the Attorney-General of the Federation and Minister of Justice, expressed gratitude to the President for forwarding the executive bill titled, “Judicial Office Holders, Salaries and Allowances, etc, Bill 2024” to the National Assembly.
Highlighting the stagnant state of judges’ salaries and emoluments since 2007, Fagbemi commended the President’s courage, determination, and compassion in taking decisive action.
”It takes a man with a great heart, determination, and consideration to do what the President did. More than 300.3 percent increase has been given to the judges. The President has done his own part, never mind that the bill is still with the National Assembly.
”In my short stay as the Attorney-General, I have come to observe that anything that concerns the judiciary, you are very much interested in it, and I thank you for your abiding interest in the judiciary,” the Minister of Justice said.
[STATE HOUSE PRESS RELEASE] President Tinubu Appoints New Coordinator for National Centre for the Control of Small Arms and Light Weapons
AdminPresident Bola Tinubu has approved the appointment of DIG Johnson Babatunde Kokumo (rtd) as the new Coordinator of the National Centre for the Control of Small Arms and Light Weapons under the Office of the National Security Adviser.
DIG Kokumo (rtd) is a seasoned and accomplished law enforcement professional with over 30 years of experience in crime prevention, management, analysis, and control.
He was Deputy Inspector-General of Police, Force Criminal Intelligence and Investigations Department, Force Headquarters, Abuja, from 2022 to 2023.
The President expects that the new Coordinator will deploy his immense experience and expertise in efforts to revamp the Centre and evolve new strategies to bring lasting solutions to the menace of arms proliferation which is a significant driver of insecurity in the country.
Chief Ajuri Ngelale
Special Adviser to the President
(Media & Publicity)
Six out of the 137 Kuriga students who were rescued by troops from their abductors have been hospitalized.
In a statement issued on Monday, the General Officer of 1 Division of the Nigerian Army, Major General Mayirenso Saraso, stated that the hospitalized students will be handed over to the state government once they are deemed medically fit by the doctors.
Saraso revealed this information after delivering 131 Kuriga children to the Kaduna State governor, Uba Sani, at the Government House.
The unfortunate incident occurred on March 7, 2024, when bandits invaded the LEA Primary School and Government Secondary School in Kuriga, Chikun Local Government Area, Kaduna, and abducted the students.
Fortunately, the military successfully rescued the students in Zamfara State on Sunday morning.
It could be recalled that the bandits had demanded a ransom of N1 billion for their release and set a deadline of March 27.
Nevertheless, the federal government clarified that no ransom was given to secure the students’ freedom.
During a speech at the Kaduna Government House, General Saraso mentioned that a combination of kinetic and non-kinetic strategies were utilized to rescue the students, who were held captive for 16 days.
He also informed me that one of the abducted teachers, Mr Abubakar, passed away while in captivity.
The general further elaborated that 131 students were physically brought to the Government House on Monday, as six were receiving medical treatment at a military facility in the state.
“In all, there were 137 children and one staff member, making 138 persons altogether, that were abducted from the co-located schools on the ill-fated day. But unfortunately, the staff member, Mr Abubakar, is not here with us today because he died while in captivity,” he said.
The Nigerian Army has reportedly cleared 200 suspects accused of having links with deadly terrorist group, Bokoharam.
According to reports, the detainees who were arrested by the military in the heat of insurgency would be released to the Borno State government today.
According to Daily Trust, Governor Babagana Zulum’s led government will receive the suspected terrorists today for proper reintegration into society.
It was reported that the event will occur on Tuesday morning at Giwa Barracks in Maiduguri, the state capital.
“Not fewer than 200 cleared Boko Haram suspects are being cleared of any wrongdoing by security operatives, and they will be handed over to the Borno State Government for rehabilitation and reintegration.
“The handing over ceremony is set to be this morning (Tuesday) at 10: am at Giwa Barracks,” a source, who spoke with the news platform, revealed.
The source further disclosed that the State Commissioner for Women Affairs, Zuwaira Gambo, and her Information and Internal Security counterpart, Prof Tar Umar, will receive the clear detainees on behalf of the state government.
Femi Adesina, spokesman of the former President Muhammadu Buhari, has urged Nigerians to support the administration of President Bola Tinubu, saying things will get better with time.
Adesina state this at a book presentation by Azuh Arinze, publisher of Yes International Magazine in Lagos on Monday.
Adesina assured Nigerians that Tinubu’s administration will get it right, adding that they should do everything to ensure the country works.
He said, “My message to Nigeria at this time is just to hold the fort, this place is going to get better. It is our country, we don’t have another one.
“So we must ensure that it works because no matter where we go, we will not be first-class citizens.
“Nigeria will get it right, we will get there.
“So, let us support the government, let us pray for the government, and have goodwill towards the government and everything is going to get better and right,” he said.
The Tertiary Education Trust Fund, TETFund, has revealed that it spent over N23 billion to fund 912 research projects across the country.
TETFund’s Assistant Director, Research and Development, R&D, Dr. Hadiza Ismail, revealed this at a validation workshop on “Strengthening Research and Innovation Funding Agencies in West Africa,” in Abuja on Monday, March 25.
Ismail said the agency was fully committed to the establishment of a science granting council in Nigeria.
She said: “So far, the Fund has spent over N23 billion on about 912 research projects that have been sponsored.
“But that also gives us an insight into the need for this workshop and what we are actually talking about. Despite the fact that we have given grants to over 900 projects, we want to see how we can link these research projects to industry and get viable outcomes at the end of the day to help Nigeria move forward''.
On his part, Executive Director, African Technology Policy Studies, ATPS, Network, Professor Nicholas Ozor, said the workshop was aimed at giving momentum to a project designed to strengthen national research councils in six West African countries.
He said: “Nigeria specifically has an issue currently because they do not yet have a well-recognized national research and innovation funding agency.”
The Minister of Finance and the Coordinating Minister of the Economy, Wale Edun, has said that Nigeria has ratified a preliminary approval by the Federal Executive Council (FEC) to join the European Bank for Reconstruction and Development (EBRD).
Edun, speaking at the Monday FEC meeting, disclosed that the opportunity had been extended to five or six African nations.
He stated that President Tinubu met with the bank’s executives in June to explore Nigeria’s membership possibilities, indicating Nigeria’s readiness to join the bank.
Moreover, he added that the FEC had endorsed the president’s commitment on Monday, paving the way for Nigeria’s membership in the financial institution.
- “We also fulfil a commitment by Mr. President way back in June when we met the European Bank for Reconstruction and Development. They had said they were looking to spread beyond the region of Europe and take on partners and shareholders.
- “They were opening up to five or six African countries.
- “Mr. President told the president of EBRD that we are interested. The preliminary approval has been ratified by the Federal Executive Council.
- “We are going to be members of the European Bank of Reconstruction and Development,” he said.
What you should know about EBRD
The European Bank for Reconstruction and Development (EBRD) was established in April 1991 to ‘foster the transition towards open market-oriented economies and to promote private and entrepreneurial initiative’.
According to the bank official website, the financial institution has invested over €190 billion in more than 6,800 projects across three continents.
- The EBRD has shareholders in 72 countries from five continents, as well as the European Union and the European Investment Bank.
- These shareholders have each made a capital contribution, which forms our core funding.
- Each shareholder is represented individually on the Board of Governors of the EBRD which has overall authority over the Bank and sets its overall strategic direction.
- EBRD is also a leading climate financer across the world, investing in climate change initiative, green energy as well as sustainable growth.
[Nairametrics]
The Special Assistant to President Bola Ahmed Tinubu on Social Media, Dada Olusegun, has described as fake news a purported list of new Nigerian Ambassadors.
Naija News reports that a purported list of new Nigerian Ambassadors and their assigned countries went viral on social media on Tuesday.
In a statement on his X (formerly Twitter) on Tuesday, Tinubu’s aide said the names in circulation are merely a copy of an outdated 2017 list.
Olusegun added that most of those mentioned in the fake list have already retired from their diplomatic duties.
He wrote: “The alleged LIST OF NEW NIGERIAN AMBASSADORS AND THEIR ASSIGNED COUNTRIES circulating online is fake.
“This list is merely a copy of an outdated 2017 list, where most of the individuals mentioned have already retired from their diplomatic duties.
“A few names on the list are even inaccurate, and some have sadly passed away. One must question the sudden emergence of this stale list at this time.
“Therefore, it is imperative to disregard and treat this list with utter contempt.”
Recall that President Tinubu had, on September 2nd, 2023, recalled all career and non-career ambassadors manning the country’s diplomatic missions, embassies, and consulates globally.
A statement by Nigeria’s Ministry of Foreign Affairs confirmed the recall of the ambassadors, saying: “Sequel to the inquiries on the letter recalling the Nigerian ambassador to the UK, the Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar, has clarified that all career ambassadors and non-career ambassadors have been recalled on the instructions of President Bola Ahmed Tinubu.”
The envoys were directed to return to the country on or before October 31.
They include the 41 non-career ambassadors and 42 career ambassadors appointed by Former President Muhammadu Buhari in July 2020.
[NaijaNews]
Bandits who abducted 50 people from the Madaka Market in Rafi Local Government Area of Niger State have reportedly killed nine of the abductees.
DAILY POST findings reveal that apart from the 22 earlier killed during the attack, nine more persons abducted have been killed.
The victims, mostly women, were abducted last Thursday and were being transported to the adjoining forest of the Allawa area when the bandits executed the brutal killings.
According to the district head of Madaka, Isah Bawale Madaka, seven people were killed in Kukoki village while moving into the forest, with an additional two individuals losing their lives en route.
He said, “In Kukoki village while going into the forest around Shiroro local government area of Niger State they killed seven people and killed additional two people while moving towards the forest.”
Madaka also stated that over 30 bodies have been buried so far, raising questions about the bandits’ motives as they have not demanded ransom for the abducted individuals.
He stated that for the past few days, he had tried to keep tabs on the route of the bandits and how to ensure the safety of the people abducted.
The Emir of Kalgara, Alhaji Ahmed Attahiru Gunna, and Hon Ismaila Modibbo, the representative of Rafi/Shiroro/Munya Federal Constituency, visited the injured victims to offer support and condolences.
[DailyPost]
Edo chairman of the Peoples Democratic Party (PDP), Dr. Tony Aziegbemi, who was seized on March 15, has regained freedom.
The Nation gathered he regained freedom on Tuesday by 3am after spending eleven days in den of the kidnappers.
But our correspondent couldn’t not confirm if the N500m ransom was paid.
Aziegbemi’s ally in PDP, Senator Odion Ugbesia, confirmed his release to The Nation on phone.
Edo Police Public Relations Officer (PPRO), Chidi Nwabuzor, a Superintendent of Police (SP), was yet to respond to confirmation of Aziegbemi’s release as of press time.
Edo PDP chairman was kidnapped by 11pm near his residence off Country Home Road Government Reservation Area (GRA) Benin after attending a political meeting at Government House in the state capital.
Details shortly…
[TheNation]
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Yoruba Nation agitator, Sunday Adeyemo, alias Sunday Igboho; and the Chief of Staff to Governor Babajide Sanwo-Olu of Lagos State, Mr Tayo Ayinde, have both threatened to drag the Aare Ona Kakanfo, Iba Gani Adams, to court for allegedly accusing them of plotting an assassination.
Igboho and Ayinde, in separate pre-action letters by their lawyers, demanded that Adams should retract the said assassination claim against them or they would drag him to court.
But when contacted by The PUNCH, Adams declined comments on the matter, saying: “No comment on that. No comment.”
In a March 20, 2024 pre-action letter, Ayinde’s lawyer, Adeyinka Olumide-Fusika (SAN), demanded that Adams should retract the allegation “without any need on my client’s part to press you further on the subject.”
Olumide-Fusika said the pre-action letter was informed by the content of a press release issued by Igboho, titled: “I did not take part in killing Chief Bola Ige…”
According to Olumide-Fusika, Igboho said the press release was in reaction to some allegations against him in a viral voice note made by Adams.
Olumide-Fusika said, “In the press release, Chief Sunday Adeyemo claimed to be reacting to ‘issues raised by the voice notes going around on social media released by Aare Gani Adams,’ which ‘attacked his character’.”
The lawyer said his client’s name was mentioned in Igboho’s press release, a situation that had made many people from within and outside Nigeria to inundate him with phone calls, prompting him to go and listen to the said voice note.
According to Olumide-Fusika, the 10th paragraph of Igboho’s press release suggested that Adams claimed that Ayinde hired Igboho to assassinate him (Adams).
According to Olumide-Fusika, Adams, in a viral voice note, was allegedly heard saying in Yoruba language: “I would send you a letter signed and sent by these people to Tinubu, imploring him to stop wasting time and give them the go-ahead to eliminate me (Adams). The letter was signed by them and sent to Tinubu’s Bourdillon address, and it was received there. Those are the characters in the circle of this thoughtless fellow; he covets their association. My enemy’s friend is my enemy. He (Igboho) says we should combine forces to liberate our people, but he is in bed with enemies of our cause.
“So, be careful associating with Igboho. Just last night, he was with Tayo Ayinde, the Lagos State Governor’s Chief of Staff. He was heavily paid. You know that I have an extensive intelligence network as Aare Ona Kakanfo of Yorubaland. Until about 2:45am, he was with Tayo Ayinde, the Lagos State Governor’s Chief of Staff, who Tinubu also uses in Lagos to coordinate the execution of his evil machinations. He has been doing work of that nature for Tinubu since his days in the SSS.
“He resigned from the SSS, Ibadan to concentrate fully on such work for Tinubu, who compensated him with the office of Chief of Staff to the Lagos State Governor. It was at his hotel somewhere in Ikeja, Lagos, that Igboho visited him to collect money for logistics to confront me. Igboho left lbadan at about midnight to attend this meeting which ended at about 2:45am.
“Tayo Ayinde gave N45m in cash to Igboho for the operation, thus shortchanging Igboho to the tune of N5m out of the N50m purse provided by Tinubu. The discovery of this has brewed disenchantment in their midst.”
In the pre-action letter written on Ayinde’s behalf, Olumide-Fusika described the alleged claims by Adams as injurious to the person of his client, asking the Aare Ona Kakanfo to retract the same.
The lawyer said, “You will agree with me that the imputations in the above are as serious and damaging, as those who have listened to the ‘voice notes’ have represented it to my client by their telephone calls and visits. It includes that my client is complicit in a conspiracy to murder you (Adams), and is in fact the coordinator of the phantom operation.
“Given your own experience in life, I am sure you will appreciate how painful it is to be unjustly accused, as you have done in this instance against my client.”
The lawyer added, “My instructions are, therefore, to respectfully demand that you retract the false and wicked allegation, either through another voice note to go round the same social media, or by a press release referencing and recanting the allegation.
“I do believe that this gentlemanly request will be voluntarily heeded by you without any on my client’s part to press you further on the subject.”
On his part, Igboho in a letter by his lawyer, J.A. Sanusi, dated March 18, 2024, addressed to Adams, stated that he had been inundated with several calls “over the unfortunate lies peddled by you (Adams) against him (our client).”
The lawyer, on behalf of Igboho, said the people of Nigeria world over wished to confirm the veracity of the said “malicious interview or phone calls you (Adams) had with a person unknown that has become subject of public embarrassment and caused serious odium against the person of our client.”
The letter, which asked Adams to retract the allegations, also demanded the sum of N500m in compensation.
It partly read, “You (Adams) are aware that there is an audio clip which is presently going viral on all new media platforms where you have alleged the following against our client (Sunday Igboho) viz:
“That our client is an assassin who used to work for His Excellency Bola Ahmed Tinubu, President, Federal Republic of Nigeria.
“That our client is rumoured to be one of the persons that assassinated the late Chief Bola Ige, SAN, together with one Fryo.
“That our client was involved in a series of murder cases but escaped prosecution as a result of his political connection.
“That our client received the sum of Forty-Five Million Naira (N45,000,000.00) sometime in 2022 to carry out some dirty works for His Excellency, President Bola Ahmed Tinubu GCFR; and
“That our client swindled Nigerians in diaspora for a fake self-determination agenda of the Yoruba race.”
Sanusi said Igboho wished to inform Adams “that the malicious lies against our client only exist in the figment of your imagination as our client is a law-abiding citizen, whose only offence at the time was to protect the interest of the Yoruba race, a responsibility which you were ordinarily saddled to discharge but failed to so do.”
He stressed that the false outburst had not only caused embarrassment but also economic losses to Igboho.
He stated further, “It is in the light of the above that we call on you to forthwith retract all the negative comments (highly defamatory too) made against the person of our client which has just been released to the social media, including YouTube platform.”
The lawyer said Igboho would be seeking redress in the court should Adams fail to meet his demands.
Bassirou Diomaye Faye has emerged as Senegal’s President-elect after an unprecedented victory at the presidential election on Sunday, March 24, 2024.
Provisional results showed the opposition candidate, Faye had about 53.7%, while former Prime Minister and ruling coalition’s candidate, Amadou Ba, secured 36.2% based on tallies from 90% of polling stations in the first-round vote, according to the electoral commission.
Giving his first acceptance speech, Faye said, “In electing me, the Senegalese people have decided on a break with a past. I promise to govern with humility and transparency.”
Both incumbent President Macky Sall and his anointed candidate, Ba have congratulated Faye.
Faye, the 44-year-old politician is set to become the fifth President of Senegal on April 2, 2024, when he will be sworn in.
Here are 15 amazing things to know about Faye:
1. Faye was born on 25 March 1980 in Ndiaganiao in the western department of M’Bour, Thies, Senegal.
2. He was the former General-Secretary of the dissolved political party, PASTEF, (Patriotes africains du Sénégal pour le travail, l’éthique et la fraternité), meaning the African Patriots of Senegal for Work, Ethics and Fraternity, founded in 2014 by Ousmane Sonko.
3. In 2000, Faye earned his baccalaureate and successfully attained a master’s degree in law and subsequently cleared both competitive exams, enrolling at the National School of Administration (ENA) and the magistracy in 2004.
4. After graduation, he became a tax inspector in the Tax and Estates department, where he met Sonko, a fellow alum from the same school.
5. Faye and Sonko‘s friendship grew closer in 2014, in the Taxes and Estates Union, created by Sonko, and at this time, Faye campaigned to facilitate homeownership for tax and property agents.
6. Sonko, PASTEF leader and Senegal’s main opposition leader endorsed Faye as a presidential candidate in November 2023, following uncertainty over the possibility of Sonko contesting, despite the dissolution of PASTEF several months earlier.
7. Faye spent more than 11 months in prison for a Facebook post that authorities deemed subversive, and regained freedom just 10 days before the presidential election, and still won.
8. Following his endorsement by Sonko, on 15 March 2024, a day after his release from jail, Faye gathered hundreds of supporters at his first public appearance as a presidential contender.
9. Former President Abdoulaye Wade and his Senegalese Democratic Party (PDS) endorsed Faye on the same day, in a boost to his chances of winning the election.
10. During the presidential campaign, Faye promised to create jobs, campaigned strongly against corruption, and vowed to reexamine energy contracts, running under the slogan “Diomaye mooy Ousmane”, which means “Diomaye is Ousmane” in Wolof, as he hoped Sonko’s charisma and popular would appeal to Senegal’s youth for his victory at the pools.
11. He was one of Sonko’s trusted allies and personal friends and also became popular with Senegalese youths who desired a breakaway from Sall’s government.
12. On April 14, 2023, Faye was apprehended as he exited his tax and property office on Rue de Thiong in Dakar, and was consequently placed under police custody for charges including “spreading false news, contempt of court, and defamation of a constituted body” following a social media post he made.
14. When Faye, Sonko, and others were released from prison by incumbent President Macky Sall on 14 March, days before the election, Faye began campaigns including vows to fight the “French economic stranglehold” over Senegal.
15. Faye is a tax inspector and lawyer by profession, and has two wives – Marie Khone and Absa, with four children.
[Vanguard]
Tukur Mamu, publisher of Desert Herald, has given the federal government a seven-day ultimatum to retract allegations of terrorism financing against him.
BACKGROUND
Last week, the federal government named Mamu as one of the suspects involved in terrorism financing in the country.
Mamu was listed among 15 entities, including nine individuals and six Bureau De Change (BDC) operators and firms.
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He is currently being tried by the federal government for allegedly aiding the terrorists who attacked the Abuja-Kaduna train in March 2022.
After he was arrested in 2022, the government said it had found $300,000 in his possession.
The publisher has denied any allegiance to terrorists.
‘IT’S PREJUDICIAL’
In a letter through J.J Usman, his lawyer, dated March 25, 2024 and addressed to the attorney-general of the federation (AGF), Mamu said no competent court of law has found him guilty of terrorism financing.
He said upon expiration of the ultimatum, he will seek redress in court.
“It is lamentable to observe that on 19/03/2024: while the case against Our Client is still pending, the social media was saturated by a publication allegedly emanating from and authorized by your good office,” the letter reads.
“However, the said publication was specifically made by the “Nigerian Sanctions Committee” wherein Our Client was profiled and designated as a “Terrorist (TERRORIST FINANCIER)”.
“As at the time of this missive, no Court of competent jurisdiction in Nigeria have designated Our Client as such. It is a common knowledge that the administration of criminal justice system in Nigeria, is not only antithetic to, but forbids media trial in whatever guise.
“We vehemently condemn the actions of the Nigerian Sanctions Committee same being a violation the rule of natural justice and prejudicial to Our Client who is undergoing trial, and whose trial is still pending in SUIT FHCIABJ/CR/96/2023.
“We have no doubt about the deliberate ploy to soil the name and the hard earned reputation of Our Client in whose favour the constitutional right to the presumption of innocence inures.
“On the basis of the aforesaid, we demand in very clear and unequivocal terms: the immediate Retraction of the said Publication within 7 days from the receipt of this letter dated this 25th March, 2024.
“Failure to comply with our client’s demand, we will have no hesitation in seeking redress in the court of law for the ventilation of our client’s grievances.”
[TheCable]
The Federal Executive Council (FEC) has approved the setting up of the Renewed Hope Infrastructure Development Fund (RHIDF) to bridge the nation’s $878 billion infrastructure gap.
Announcing this to journalists after the week’s FEC, which was presided over by President Bola Tinubu, Special Adviser to the President on Revenue and Chairman of the Federal Inland Revenue Service (FIRS), Dr Zacch Adedeji, also disclosed that the Fund will be domiciled in the Presidency.
According to him, the National Integrated Infrastructure Master Plan had estimated Nigeria’s infrastructure expenditure from 2016 to 2040 at USD 878 billion, averaging USD 35 billion annually, adding that recognising that the Federal
Government alone could not meet the demand, given its heavy reliance on revenue from the oil and gas sector, new financing frameworks are required, hence the RHIDF, which is an upgrade to the Presidential Infrastructure Development Fund initiated by the previous administration.
Throwing more light on the Fund, Adedeji said: “How do we sustainably mobilise resources to actually fund development of the country. And what we have observed is that we need national infrastructure backbone to get this done.
“If you look at the analysis of the integrated master plan that was commissioned in 2020, we will require $895 billion in the next 10 years to actually bridged the gap of infrastructure problem that we have.
“For us to do that, it requires that we think outside the box and compare what has worked elsewhere, whether within our country or in other advanced countries that we are actually proud to be associated with.
“In coming up with this, in the wisdom of Mr President and the magnanimity the council, they approved the establishment of Renewed Hope Infrastructure Fund, as the catalyst to drive our infrastructure agenda.
“So, innovative fund consolidates existing resources to drive economic growth and connectivity across sectors like transport, agriculture, aviation and education and others. It helps for inclusive progress leaving no community behind and this is expanding the initial Presidential Infrastructure Development Fund that we have.
“This Renewed Hope Infrastructure Development Fund unifies efforts streamline the projects delivery for maximum impact, it accelerates infrastructure development, sparking economic dynamism nationwide.
“The key objective of the fund is to invest in nationally critical projects in sectors that will promote growth, enhance local value addition through backward, forward and parallel linkages, create employment opportunities, promote technological innovation, promote exports.
“Potential sectors for focus, like I said, will be agriculture, energy technology, infrastructure, healthcare and education. However, these ones I’ve mentioned are just indicative of what we do.
Read Also: Police arrest fake Soldier for armed robbery, extortion in Kaduna
“Then what is our goal is to actually establish an innovative infrastructure investment vehicle that we will use to attract and consolidate capital, serving as a driver for economic advancement. It is also having as part of goals to execute strategic and meticulously chosen national infrastructure across several key-sectors, like coastal road; the rail that we want to do, both southern and eastern rail; agricultural, spanning from irrigation, storage, logistics, and cold-chain and food security; ports and our airports and also to guarantee Nigerians that we’ll secure most advantageous arrangement in financing.
“So what is the strategic key focus for now? Like I said, we’ll focus more on road infrastructure, rail infrastructure, and agricultural infrastructure, ports revitalization and aviation enhancement. We believe that this vehicle will be one of the major vehicles, major-thinking-outside-the-box solution to our infrastructure gap.
“We believe, hopefully by the special grace of Almighty God, that Mr. President will launch this Fund after the Honorable Minister of Budget and Economic Planning would have done the Supplementary Budget that will take care of all these critical projects that we want to go on to.
“So we’ll look forward that the next few months, the fund will be launched and then it will be domiciled in Presidency as its precursor, which was the Presidential Infrastructure … This one is just expanding on that and then hopefully, in the next few years, we’ll be able to bridge the gap that we have infrastructure and then we’ll laid a solid foundation through which the food security, industrialization and all other wonderful aims that we have, we’ll be able to do. At the end of the day now help our internal revenue mobilisation.”