Aviation
Afreximbank, U.S. Eximbank Sign $500m MoU for Revival African Airlines, Others
The African Export-Import Bank (Afreximbank) and U.S. Eximbank have signed $500m Memorandum of Understanding (MoU) to boost trade and investment, especially to help revive and strengthen African airlines through re-fleeting.
Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank said this in an interview with the News Agency of Nigeria (NAN) on the sidelines of the ongoing U.
S. -Africa Leaders’ Summit.Oramah said through the renewed partnership, the two banks would support trade and economic integration in Africa by helping to support other technical supports and facilitate strategic investments in healthcare.
He said that the MoU would also facilitate power and transportation infrastructure, including rail and road projects, as well as investments in renewable energy projects.
“We will use our platform and relationship to promote the creation of regional supply chains by through supporting transportation, rail and road infrastructure, healthcare, renewable energy.
“We also support diaspora engagements, especially the creative industry, which is something we have as a priority and the U.S. government also has as a priority.
“We expect that this engagement we have had will promote the work we are doing to support the African Continental Free Trade Agreement (AFCFTA).
“It will make it possible for us to support industries to bring in heavy equipment and capital goods needed to create manufacturing capacity.
“It will also enable us to have access to the kind of infrastructure goods that are required to create capacities for production on the continent,’’ he said.
He described the U.S. market as the largest in the world, saying that by improving relations and creating the opportunities for trade, Africa could have access to help pull billions of people out of poverty, as it did Asia.
“U.S. is the country largest pool of capital.
“By creating the environment to attract this capital, we are going to be able to support the kind of investments that will enable us do value addition in our continent, especially solid minerals and agriculture products.
“It will help us to push ahead as a trade destination hub for venturing in the U.S, given the fracturing of global supply chain that we are beginning to witness. Africa has a large diaspora in the U.S.,’’ he said.
Oramah said it was a good thing that President Joe Biden administration had issued an executive order to strengthen African diaspora engagement.
He said that diaspora sources of foreign direct investment, marginal remittances, and skills were also market for us, noting that the banks would fully leverage the benefits of a large pool of African diaspora here.
“Just as the Jews have done, just as the Indians have done; we are the only ones who have not used our diaspora in a way that it is a win-win for both parties,’’ the president said.
Speaking on the benefits of the MoU to Nigeria, Oramah said Nigeria has a large market because of its huge population, noting that the youth population in Nigeria alone is a huge source of labour that could promote production for the U.S. market.
“The U.S. and Nigerian markets are not far apart. Nigeria can be a good destination for the U.S. and that can boost economy and create jobs, create technology transfer and support capacity building.
“Nigeria is the largest source of diaspora in the U.S. So, with this engagement, we are able to leverage the pool of the diaspora we have in the U.S and we are also going to attract more capital for the U.S. into Nigeria.’’
According to him, Nigeria stands the opportunity of gaining so much from the African Continental Free Trade Agreement.
“So, Nigeria can be industrial base that will attract manufacturing investments from the U.S. apart from also being a potential market for our goods
“We see AFCFTA it as a source of foreign direct investment, and diaspora remittances.
“Moreover, AFCFTA is a source of skills and also to help us use raw materials efficiently, in terms of adding value, and building strong manufacturing capacity which is what we are fight for.”
NAN reports that Oramah Ms Reta Lewis, President and Chair of the Board of Directors, U.S. Exim Bank, signed the MoU on behalf of the two banks. (NAN)
By Idris Umar Feta Abuja
Many air travellers were left stranded following the closure of the Nnamdi Azikiwe International Airport, Abuja, by officials of the Nigeria Labour Congress (NLC) on Thursday.
A combined team of NLC and Trade Union Congress (TUC) blocked both the entry and exit ways of the Nnamdi Azikiwe International Airport.
The protest was part of the series of actions that the two labour unions say they would zero in on Imo, following the attack on the NLC president, Joe Ajaero.
The NLC and TUC had on Tuesday, declared a nationwide strike, which will commence on Tuesday, November 14, due to the face-off with the Imo State Government.
Anambra State Governor, Professor Charles Soludo has renamed the state’s International Passenger and Cargo Airport after the late Chinua Achebe, a novelist, to immortalise him for making an indelible mark on the history of human civilisation.
Achebe a native of Ogidi in Idemili North Local Government Area of the state, died on March 21, 2013, at age 82, in Boston, Massachusetts.
Soludo said this on Sunday in Awka at the Independence Day parade, to mark Nigeria’s 63rd anniversary, describing Achebe as an example of Africa’s unsung hero.
“Achebe, a Nigerian novelist, poet, and critic, gave the African literature an identity and a voice and he rightly reconstructed and refined the identify of the people,” he said.
The governor said that Achebe was not just an Anambra hero nor a Nigerian hero, but an African and global hero and yet largely unsung at home.
He said that henceforth, the state shall be deliberate in fishing out and celebrating its largely unsung heroes as motivation to children and youths.
“Unfortunately, some people wrongly think of legacies in terms of brick and mortar. Legacy is about impact on human life and human civilisation.
“Achebe was not a president or governor or military. He did not build bridges or roads or airports but he will outlive most presidents, governors and ministers in our minds.
“Achebe rejected Nigeria’s national honours twice in protest against what he perceived as injustice to his home state Anambra. Today, Anambra will finally honour him.
“After wide consultations, there is a broad consensus that no one is more deserving to be named after the first airport in Anambra than Anambra’s all-time greatest literary gift to the world, Chinua Achebe.
“Consequently, we will rename the Anambra International Cargo and Passenger Airport, Umueri, to Chinua Achebe International Airport, Umueri.
“Yes, it has to be an international airport, and we hope to work with the Federal Government to give full effect to its international status,” he said.
Soludo urged Nigerians to be intentional about making the project Nigeria work and believe in the potential greatness of the country.
“We have muddled through the past 63 years with squandered opportunities and yet with the promise of potential greatness
“No country or nation is a perfect. Every nation continues to struggle in its match to a more perfect union. The path to stability, growth and sustainability will be challenging as there are no quick fixes.
“But all of us must collectively think and work Nigeria out of the current challenges. We have no other country but Nigeria, and we must make it to work for everyone, “he said.
The governor said his administration was founded on the true progressive agenda and would continue to create the enabling environment for residents to thrive and survive.
The police, paramilitary organisations and students from different schools took part in the parade. (NAN)
Abiodun flags off Aviation Village construction
Gov. Dapo Abiodun of Ogun on Tuesday flagged off the construction of 200 units of two-bedroom expanded bungalows, at the Gateway Aviation Village, Iperu in Ikenne Local Government Area of the state.
The governor, represented by his Special Adviser on Housing, Jagunmolu Omoniyi, said the project would herald the creation of a new city in the town and serve the entire Remo cluster and the state in general.
He said the project was divided into two phases, with the first 100 units to be ready in six months.
According to the governor, the siting of the housing scheme would serve institutions and people who will make use of the Gateway Agro-Cargo Airport.
Abiodun noted that government agencies like the Customs, the Nigerian Air Force and other corporate bodies had already indicated interest in the airport.
He said that the project would create jobs for about 5,000 artisans of various skills in the course of execution.
“This is the people’s project. This housing scheme will complement the airport and serve those who will work in this town.
“I can assure you that within two years, the story of this town will change. We will not engage outsiders to work in this estate, but the people of this town.
“We have done similar projects at Kemta, Idi-Aba and Kobape. The siting of similar housing estate has changed the landscape of Kobape, which was a village before, to a lively city,” he said.
The governor called on prospective buyers to start the process by obtaining their forms, charging the people to support and take ownership of the project for the development of the town.
In his remarks, the Chairman of Ikenne Local Government Area, Mr Segun Ogunleye, expressed gratitude to the governor, saying with the siting of the housing estate and the cargo airport, the development of the town was assured.(NAN)
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