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G20 CwA Summit : ”We are eager and ready to partner with you. We have the youngest, largest, and most vibrant youth population in African, Tinubu tells investors

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President Bola Tinubu, on Monday, November 20, told international investors that beyond natural resources, Nigeria’s greatest assets are its highly educated, highly skilled, and naturally industrious people.
President Tinubu spoke in Berlin, Germany, at a panel discussion titled: “Fostering Local Value Chains and Investments in Africa – The Role of the German Private Sector” at the G20 Compact with Africa Economic Conference, hosted by German Chancellor Olaf Scholz.

According to a statement issued by his special adviser on media and publicity, Ajuri Ngelale, the president said these human assets set Nigeria ahead of other nations in the global race for new investments.

He further disclosed to the investors that Nigeria is ripe for new investments, noting that the country now possesses all the ingredients required for the making of a modern economy, including its educationally equipped population, a huge market, and an administration with the political will to harness all the factors to create the required environment.

The president noted that while promoting the rule of law is crucial for attracting foreign investments, Nigeria’s energetic youth population and well-educated populace represent the greatest incentive provided to investors toward the mutually beneficial replication of China’s economic resurgence.

The president confidently affirmed: “We are dogged in our pursuit of natural gas development today, in tandem with hydrogen production for tomorrow. The world knows Nigeria as a leader in the energy sector. Our vast gas deposits and business-friendly environment make us an attractive investment destination. But we are going a step further now. We are creating fiscal responsibility and tax reforms as we reform our financial institutions to expeditiously accommodate foreign investments.

”We are eager and ready to partner with you. We have the youngest, largest, and most vibrant youth population in Africa. Equally, we have every ingredient required in the making of a modern economy: a well-educated population, a massive market, and the political will to bring it all together under my leadership.

“Africa has moved beyond the false past notions of business disincentivization and poor adherence to the rule of law. We now fully recognize the nexus between the inflow of investor money and the sanctity of contracts. We want to partner on the basis of who we are and what we do, rather than on the basis of long-held misconception.”

President Tinubu apprised the summit of the country’s intentional move toward developing labour-intensive sectors of the Nigerian economy for massive job creation as well as a new emphasis on technological progress and new opportunities in Nigeria’s rapidly expanding information and communications technology space.

The president assured potential investors that Nigeria has moved beyond restrictive policies, and today, capital can be moved in and out of the country freely, providing flexibility for investors.

“Nigeria has consolidated its democracy with several consecutive handovers of power. There is stability and predictability in the socio-political development of our country, which provides a conducive atmosphere for business operations and investment.

“Your money is safe. Since I assumed office in May 2023, we have embarked on transformative changes, removing all obstacles hindering businesses. We are reforming the economy based on the principle and philosophy of good governance.”

While persuading German automobile firms to establish manufacturing plants in Nigeria, he invited German businesses to take advantage of investment opportunities in multiple sectors following the successful visit of the German Chancellor to Nigeria in October.

Speaking earlier, German Chancellor Olaf Scholz noted the dynamic and evolving nature of economic relations between the developed and developing nations of the world as he positions Germany to enhance partnership with Nigeria and Africa on a mutually beneficial basis.

The Chancellor stated: “To be clear, this is not about traditional development aid with donor-recipient schemes. Instead, we now focus on investments that yield benefits for both parties. In Germany, as we strive for climate neutrality by 2045, we anticipate a substantial demand for green hydrogen, a considerable portion of which we plan to import, including from Africa.

“Many African countries possess larger potentials for renewable energy and competitive hydrogen production than we do. I am convinced that there are fantastic opportunities for expanding cooperation between German and African companies in this context.

“I highlighted this during my visit to Nigeria, where we already operate a hydrogen office and aspire to be a partner in the ambitious expansion of renewable energies.”

Also speaking on the panel, the President of Cote D’Ivoire Alassane Ouattara, said if Nigeria succeeds, entire West Africa will thrive, he emphasized the need for trade partnerships among African countries.

Ouattara appealed to German enterprises to step ahead in terms of training locals of partnering African countries to advance production content.

President of Senegal, Macky Sall, stressed the place of working hand in hand with Europe, saying Africa is ready to do business with Germany and the rest of the European countries.

He called for increasing access to the increasingly global market to advance the African continent.

CEO of Siemens Sub-Saharan Africa, Sabine Dall’ Omo, said Africa provides the opportunity to invest and develop new technologies.

She added that working with Africa will proffer solutions to most challenges facing the EU in the area of climate change.

Sabine Dall’ added: “We will continue to be in Africa and we will make sure modern technology in infrastructure, rail, road, water, health and are available to change Africa’s outlook.”

Other panelists at the discussion were the German Federal Chancellor, Olaf Scholz; President Alassane Ouattara of Côte d’Ivoire; Prime Minister Aziz Akhannouch of Morocco; President Macky Sall of Senegal; Sabine Dall’Omo, Chairperson of Afrika-Verein (German-African Business Association); and CEO of Sub-Saharan Africa, Siemens AG.

President Bola Tinubu hosts notable German Business Chief Executives at a Nigeria-Germany Business Roundtable in Berlin, Germany, on Tuesday.

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Update : Locomotive Detachment Triggers Abuja–Kaduna Train Incident, NSIB Investigates

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By Sotayo Olayinka
MAR 16, 2026

The Nigerian Safety Investigation Bureau (NSIB) has commenced an investigation into a railway incident involving a passenger train operating along the Rigasa–Idu rail corridor after a locomotive detached and struck the rear of the train.
The incident occurred about 09:16 a.m. along the Jere–Asham section of the corridor near Asham Station in Kaduna State. The track segment where the occurrence took place lies on a downward gradient.
The train, identified as KA2, had departed Rigasa Railway Station in Kaduna at the start of its scheduled journey to Idu Railway Station in Abuja. The service operates within a scheduled window of 07:15 a.m. to 10:01 a.m.
According to details released by the Bureau, the train arrived at Jere Station at 08:52 a.m. and departed again at 08:59 a.m. for the onward journey to Abuja after a rear locomotive was attached to provide additional operational support.
However, shortly after departure from Jere, the rear locomotive became detached while the train was moving along the descending gradient toward the Asham section. The detached locomotive subsequently rolled forward and collided with the rear portion of the train, resulting in a serious operational occurrence.
At the time of the incident, the train consisted of two locomotives positioned at the front and rear, one power car, two business-class coaches and six standard passenger coaches. A total of 429 passengers were onboard, alongside 46 crew members and 24 security personnel assigned to the service.
No fatalities were recorded, though some passengers sustained injuries. Personnel from the Nigerian Railway Corporation (NRC), supported by onboard security operatives, immediately activated emergency response procedures.
Medical personnel provided first aid to injured passengers.
Following the incident, the train continued its journey and arrived at Idu Station in Abuja about 10:39 a.m., where additional assistance was provided to passengers.
Investigators from the NSIB have since begun gathering evidence and conducting technical analysis to determine the circumstances surrounding the occurrence.
The investigation will examine technical, operational and infrastructure-related factors, including train configuration, locomotive attachment systems, operational procedures and relevant operational data.
Commenting on the incident, Director-General of the Bureau, Alex Badeh Jr., expressed concern for affected passengers and reaffirmed the agency’s commitment to determining the cause of the occurrence.
“This incident reminds us that every transport journey carries the trust and expectations of hundreds of people who rely on the system to move them safely to their destination.
Our thoughts are with the passengers who sustained injuries, and we commend the swift response of Nigerian Railway Corporation personnel and emergency teams who assisted those affected.
“At the Bureau, we approach every investigation with a deep sense of responsibility because behind every occurrence are real people, real families, and real consequences.
“Our team will carefully examine every relevant factor to understand what happened and to ensure that the lessons from this occurrence lead to safer railway operations across Nigeria”, he said.
The Bureau said it will work closely with the Nigerian Railway Corporation and other relevant agencies as the investigation progresses, adding that further updates will be provided as more information becomes available.

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Update : Abuja–Kaduna Train Mishap: NRC Confirms Incident, Injured Passengers Hospitalised

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Newsthumb had earlier reported that some passengers were left stranded on Monday morning after an Abuja-bound train from Kaduna was involved in a collision with another train along the rail corridor, forcing an immediate suspension of operations.

The Nigerian Railway Corporation (NRC) has officially confirmed a train incident occurring on the Abuja-Kaduna rail corridor on Monday morning.

Newsthumb earlier reported that hundreds of passengers were left stranded on Monday morning after an Abuja-bound train from Kaduna was involved in a collision with another train along the rail corridor, forcing an immediate suspension of operations.

But in a press statement signed by the Managing Director/CEO, Dr. Kayode Opeifa, the corporation described the event as an “avoidable incident” that took place at approximately 10:30am near Asham.

According to the NRC, the mishap involved a rear locomotive and a passenger coach.

He added that preliminary investigations suggest that the collision was not a head-on crash with a separate train, but rather a mechanical failure within the same service.

“Preliminary reports indicate that the rear locomotive made contact with the rear immediately next to it due to a coupling issue,” the statement read.

While the impact caused panic among the hundreds of passengers on board, the NRC confirmed that no fatalities were recorded. However, an unspecified number of passengers sustained various degrees of injuries.

The statement partly read: “Some passengers sustained injuries and were promptly attended to and taken to a nearby medical facility for proper medical care. No fatalities were recorded.

“Emergency response protocols were immediately activated, and relevant technical teams have been mobilized to the location. The Safety Investigation Bureau (SIB) is also on site to conduct a thorough investigation into the incident in line with established safety procedures.

“The Corporation assures the public that safety remains its top priority, and all necessary measures are being taken to address the situation and ensure the continued safe operation of train services.”

This official confirmation follows chaotic scenes reported earlier today by passengers who were forced to wait in the middle of the rail corridor. While initial reports from the scene suggested a “clash” between two separate trains, the NRC’s clarification points to a critical failure in the train’s internal coupling system—the mechanism that links the locomotive to the passenger cars.

“We were moving at a steady pace when there was a loud bang and the train suddenly braked,” said one passenger via a social media update. “We later realised we had hit another train on the same track. Everyone is shaken, but we are waiting for official word.”

 

 

 

 

 

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Update : FG, States, LGs Share N1.894trn February Revenue from Federation Account

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The Federation Account Allocation Committee (FAAC) has shared a total of N1.894 trillion among the three tiers of government as federation allocation for February 2026.

According to a statement issued on Friday by the Federal Ministry of Finance, the distribution was made from a gross revenue of N2.230 trillion generated during the month.

From the amount shared, the Federal Government received N675.086 billion, the 36 states received N651.525 billion, while the 774 local government councils got N456.467 billion. Oil-producing states also received an additional N110.949 billion as derivation revenue, representing 13 per cent of mineral proceeds.

The statement further disclosed that N77.302 billion was paid to revenue-generating agencies as the cost of collection, while N259.078 billion was allocated for transfers, interventions and refunds.

The ministry explained that gross revenue from Value Added Tax (VAT) for February stood at N668.450 billion, compared to N1.083 trillion distributed in the preceding month, indicating a decline of N414.710 billion.

From the VAT revenue, N26.738 billion was deducted as cost of collection, while N22.593 billion was set aside for transfers, interventions and refunds.

The remaining N619.119 billion was shared among the three tiers of government, with the Federal Government receiving N61.912 billion, the states N340.515 billion and local government councils N216.692 billion.

Similarly, the gross statutory revenue of N1.561 trillion recorded in February was lower than the N1.957 trillion received in the previous month, representing a decrease of N395.138 billion.

From the statutory revenue, N50.564 billion was deducted as cost of collection, while N236.485 billion was allocated for transfers, interventions and refunds.

The balance of N1.274 trillion was distributed as follows: the Federal Government received N613.174 billion, states got N311.010 billion, and local governments received N239.776 billion, while N110.949 billion was allocated as derivation revenue to oil-producing states.

New tax regime designed to boost growth, ease burden on Nigerians — Experts
The ministry noted that revenue from oil and gas royalty as well as excise duty recorded significant increases during the period.

However, it added that collections from Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties (SDT) and Value Added Tax (VAT) declined substantially during the month under review.

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