NEWS
FG Reviews Bilateral Investment Treaties, NIPC Act
The Federal Government has set up a nine- member committee to review Bilateral Investment Treaties (BITs)and the Nigerian Investment Promotion Commission (NIPC) ACT.
This is contained in a statement issued by Mr Kamarudeen Ogundele, Special Assistant to the President on Communication & Publicity, office of the Minister of Justice in Abuja.
Inaugurating the committee, the Minister of Justice, Lateef Fagbemi (SAN), said the move was part of efforts to advance law reforms, provide clarity and certainty in our corpus juris, foster a conducive environment for foreign investments, and safeguard our national interests.
He said BITs play a pivotal role in attracting foreign direct investment (FDI), and that they are the cornerstone of the nation’s trade and economic diplomacy.
“The Role of BITs in forging partnerships and securing prosperity cannot be over emphasized. They provide a framework of legal protection for investors and their investments, promoting confidence and stability.
“However, the global economic landscape has evolved significantly over the years, and it is imperative that we reassess our BITs to ensure they remain relevant and effective’’.
He said the primary objective of the committee to review the BITs is to harness previous efforts to conduct a comprehensive review and reform of existing BITs, identify areas where they may be outdated or require modification, re-negotiation or outright termination.
He added that the exercise is expected to build upon the advancements attained in the 2016 Nigeria – Morocco BIT, which is regarded as a new generation model BIT that ushered in a new bilateral investment regime.
“The review will enable Nigeria to modernize our BITs and align them with contemporary international standards and best practices.
“It will also enhance investor protection to ensure that foreign investors enjoy adequate legal protection, while upholding the principles of fairness and reciprocity.
“The review will equally safeguard our national interests to strike a balance between attracting foreign direct investment and protecting our domestic industries and natural resources.
“It will ensure fair and equitable treatment of foreign and national investors, and achieve a balanced and equitable approach to negotiating future BITs.
“The review will promote sustainable development, ensuring that FDI contributes to our nation’s economic growth and development agenda in a sustainable and responsible manner.
“It will as well enable technology transfer and local capacity building, as well as incorporate provisions that safeguard our environment, labour standards, and human rights”.
The committee, which has a timeline of four months, is chaired by Mrs Funke Adekoya, SAN.
Other members are Prof. Fidelis Oditah, SAN, Prof. Emilia Onyema, Babatunde Fagbohunlu SAN, Mr Oba Nsugbe, SAN; Mr Tolu Obamuroh, Mr Momoh Kadiri, representative of Federal Ministry of Industry, Trade and Investment, and Ms. Aisha Rimi, Executive Secretary/CEO of NIPC. (NAN)
NEWS
Delta Speaker urges Christians to Imbibe True Spirit of Christmas
The Speaker of Delta House of Assembly, Mr Dennis Guwor has urged Christians to imbibe the true spirit of Christmas celebration.
Guwor, in a statement by his Chief Press Secretary, Mr Nkem Nwaeke, on Wednesday in Asaba, reminded Christians that love, kindness and generosity remained the key elements of the Christmas celebration.
He reiterated the need for people to continue to support one another, uplift those in need, and strive for a more united and prosperous state .
Guwor, who is also the National Treasurer, Conference of Speakers of State Houses of Assembly in Nigeria, said he was proud of the progress that Delta had made as a state.
”I look forward to the dawn of a new year with great hopes and more positive vibes in Delta.
“I pray that this festive season brings to the state and its people peace, love, and happiness, ” he said.
According to him, we have worked tirelessly to build a brighter future for our state, and I am confident that our collective efforts will continue to yield positive results.
Guwor expressed confidence that the ‘MORE Agenda’ of Gov. Sheriff Oborevwori would continue to impact positively in the life of the people of the state..(NAN)
NEWS
Christmas: Let’s Look to Jesus for Hope and a Better Nigeria – CAN
By Laide Akinboade, Abuja
Christian Association of Nigeria (CAN), had urged Nigerians to use this Christmas celebration to continue to up to Jesus for hope for a better Nigeria
This was contained in a statement issued by CAN , signed by Archbishop Daniel Okoh
President, CAN, and made available to journalists in Abuja.
The Archbishop extends his warm Christmas greetings to all Nigerians.
The statement reads, “Christmas is a time of joy and togetherness, celebrating God’s greatest gift to mankind, Jesus Christ, our Saviour and the Light of the World. As we celebrate the birth of Jesus Christ, we are called to reflect on His values and teachings, which provide hope, peace, and guidance, especially during challenging times.
“This Christmas comes with a mix of joy and sorrow for many Nigerians. The recent stampedes at charity events in Abuja and Anambra, where innocent lives were lost, have left us grieving as a nation. These heartbreaking incidents highlight the growing desperation among our people and the erosion of societal values such as patience, orderliness, and respect for one another. For those grieving or injured, I urge you to find strength in the love of Jesus Christ, whose birth we celebrate. He is the source of our comfort and peace in times of sorrow and our guide to a brighter future.
“The philanthropists involved in these events have, for many years, brought relief and joy to the less privileged during Christmas. Their intentions were noble, and their generosity is commendable and should not be discouraged in any way. However, this year’s tragedies remind us that as a society, we must revisit the values that bind us together. Nigerians must learn to embody Christlike virtues, such as patience, empathy, discipline, and dignity, particularly in times of collective need. It is only by returning to these values that we can prevent such unfortunate occurrences in the future.
“These incidents also highlight the urgent need for our government to prioritise food security. The desperation we witnessed reflects the harsh realities many Nigerians face daily. Jesus Christ, during His ministry, not only fed multitudes with compassion but also called for fairness and justice in meeting the needs of others. Our leaders must remain resolute in the fight against hunger and take decisive steps to ensure that no Nigerian is left hungry or in need. Strengthening the agricultural sector, reducing food prices, and addressing inequality must be at the forefront of governance.
“As we commemorate the birth of Christ, let this Christmas inspire us to be agents of change in our society. Citizens must commit to fostering peace and orderliness in their communities. Leaders must act with compassion and wisdom to create a nation where every individual’s basic needs are met. And as individuals, let us strive to live out the teachings of Jesus by showing love, patience, and care to those around us.
“May this Christmas remind us that Jesus Christ is the foundation of hope and order, and may His light guide us in building a united and prosperous Nigeria. Together, as we look to Him, we can overcome our challenges and usher in a brighter future for all.
“May the joy, peace, and hope of Christmas fill your hearts and homes. Merry Christmas!”.
NEWS
Road Construction: DRTS Cautions FCT Motorists Against Speeding
The Directorate of Road Transport Services (DRTS) in the Federal Capital Territory (FCT) has warned motorists against speeding.
DRTS Director, Abdulateef Bello, gave the warning in an interview on Wednesday in Abuja.
He spoke against the backdrop of the ongoing road construction projects in the territory.
According to the DRTS boss, road accidents associated with speeding, drunkenness and other vices are common during the Yuletide.
He noted that the Christmas and New Year holidays had often led to influx of visitors from other states.
Bello warned that it was important for such persons to drive with extreme caution as they might not be familiar with the FCT.
“There are no excuses for driving with expired drivers licence or none at all, overloading and use of rickety vehicles that could be harmful to passengers,” he said.
Bello added that operatives of the directorate had commenced road surveillance within the territory to ensure safety compliance by motorists.(NAN)