The Federal Government  has secured investment commitments of more than 30 billion dollars across different sectors of the economy.

Dr Doris Anite, the Minister, Industry, Trade, and Investment (FMITI), said this during her presentation at the Ministerial Sectoral News Conference to mark President Bola Tinubu’s first year in office  on Tuesday in Abuja.

The News Agency of Nigeria (NAN) reports that her presentation was titled “Unlocking Trade and Investment to Achieve Renewed Hope Agenda “- Key Achievements and Contributions of the ministry.

Anite said Nigeria’s investment landscape was now witnessing a significant influx of foreign capital, aligning with the Renewed Hope agenda  Tinubu.

She said in addition, the ministry was taking decisive and structured steps to attract capital investments, which would transform the nation’s homegrown enterprises and industries into global players.

“We have concluded stakeholders’ engagements with our domestic private equity and asset management firms towards the inauguration of an Investment Mobilisation Initiative aimed at increasing local and foreign investment as a catalyst for economic growth.”

The minister said in a bid to boost private equity capital formation, the Nigeria diaspora fund was initiated.

“The Nigeria diaspora remit between 20 to 25 billion dollars annually according to the World Bank, but these remittances have not been channeled intentionally to private equity.

“ Therefore, the investment initiative by my ministry is creating the platform to target, mobilise and utilise some of these funds into the productive economy.

“Our Private Equity and Asset Management firms are adept at attracting investments and the support from the Ministry is an assurance that the government is backing this investment drive.

“Government will provide the enabling environment, remove the roadblocks and red tapes to ensure that these investments thrive.”

Anite said the investment drive was not limited to only Nigerian Diasporans, but the ministry was also reaching out to all fund providers.

She said the ministry had also received support from development finance partners.

“I have no doubt that with the success of this initiative, Nigeria will witness a boom in the formation of businesses, and a strong financial and capital market.

“Nigeria will also witness the creation of a strong economic and industrial base to catalyse a one trillion dollar Gross Domestic Product (GDP) economy.”

Anite said the ministry was set to host the Nigeria Investment Summit, a platform to connect domestic and global investors to Nigeria.

“We are creating and de-risking the investment opportunities in Nigeria, and will showcase these as we inaugurate our digital dealroom which will present the investment opportunities and help facilitate the investments to happen.”

She said this had become necessary because most contracts issued in Nigeria had other jurisdictions as places for arbitration, mostly England.

“We have observed that this is so because most businesses experience delays in the arbitration and legal process for enforcing contracts.

“This red tape will be removed with the automated commercial courts, and this will boost investor confidence and increase investment flows.” (NAN) 

The Police Command in Kano State on Monday assured the people of Kano State of adequate security in the face of the tussle over the Emirship seat.

Its Commissioner, Mr Usaini Gumel, gave the assurance during an interview with the News Agency of Nigeria (NAN) in Kano.

“We are battle ready to deal with any person or group of people tampering with the peaceful atmosphere our state is known for.

“We have the ability and capacity to provide required security measures in our areas of supervision, ’’ he told NAN.

He warned individuals, who intend to bring thugs into Kano from other parts of the country, to have a rethink, saying that the command would deal decisively with the situation.

He reminded the public that the Constitution of Nigeria was clear about the responsibility of the police in providing internal security for Nigerians.

“The police will not condone any act that can lead to chaos or violence in Kano State.

“Adequate security personnel have been deployed to arrest anyone who attempts to disrupt the peace or break the law in the state,’’ Gumel said.

He reminded the residents of the state that no one was permitted to carry dangerous weapons around the Emir’s palace and Nasarawa, the Emir’s residence.

“Rigorous stop-and-search and patrols are being conducted across all parts of the dissolved five Emirates,’’ he said.

He urged residents to provide credible information to assist the police to respond swiftly to any situation that could breach peace in the state. (NAN)

The University of Abuja’s internal governing council has expressed concern over an alleged plan by the Vice Chancellor, Prof. Rasheed Na’Allah to conduct an election of the council against the University laws.

The council therefore, said it has taken a legal action against the Vice Chancellor to get clarification.

It would be recalled that President Bola Tinubu’s administration had in June 2023 dissolved all the governing councils in federal universities in the country.

However, the federal government, few days ago announced the constitution of council members of Federal tertiary institutions.

Following the announcement, the University of Abuja’s Internal Governing Council has intensified its stance, asserting that the planned election of new internal members violates established laws of the University.

The University, unlike other Federal Universities in Nigeria operates under a governance framework comprising both external and internal governing council members. 

While the external council members typically consist of individuals appointed by the federal government, the internal governing council members are typically drawn from within the university community, including faculty members, administrative staff, and student representatives through an election.

Meanwhile, addressing a press conference in Abuja, a member of the internal Council of the University, Pof. Edmund J.C Nwana blamed the vice Chancellor for planning an election while their tenure has not expired 

“We were elected 12th of July 2022, there was a contest in senate and we emerged winners. We were subsequently inaugurated on the 15th of July 2021 for a four year term.

“When the new administration came on board, we were about council assignments until we got information that Council was suspended.

“So, we waited thinking it will be resolved in may be another week, but it has lingered for now almost going into a year. 

“As we were watching and listening to know what next government wants to do, the rumours started flying and they are quite serious that our administration here, lead by the Vice Chancellor was planning to call for another election on his own understanding that Council has gone.

“So, we got wind of it and decided that, we don’t have time for any physical engagement or argument so we decided to seek the interpretation of the law, because it is in the art of the University of Abuja.

“So, we sought a legal explanation through the Federal High Court in Abuja a few days ago. So that’s where we are today, he has been served notice of a case that is pending,” he added.

According to him, other federal universities where tenures are not ended for internal council members, the Institutions are not going about hitting up the polity, but the members are going to return and complete their tenures.

Also speaking, Barrister Maxwell Opara, a council to the members urged the VC not to hand himself out as somebody who doesn’t obey the rule of law. 

“So, we are calling on the Minister of education, executive secretary of NUC, the Anthoney General of the Federation and the president to call the VC to order. 

Contributing, the Chairman of ASUU, University of Abuja branch, Dr. Sylvanus Ugoh said it is fully behind the council members for the right thing to be done.

“Our internal council members here in university of Abuja got the wind that the University administration led by the Vice Chancellor are planning seriously to conduct another council election, which we know is not in accordance with the law.

“Internal council members were elected for a tenure of four years and they have not exhausted the four years and because of what the University administration is doing, the members went to court to seek interpretation and ASUU being a union of intellectuals, we come to be in solidarity with our members because we respect the rule of law and want them to pursue it.”