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Nigeria Ready for New Era of Investment, Trade With Saudi Arabia — Idris

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By David Torough, Abuja

The Minister of Information and National Orientation, Mohammed Idris, has declared that Nigeria is open for business and ready to deepen investment, trade and tourism partnerships with the Kingdom of Saudi Arabia, as the Renewed Hope Agenda of President Bola Ahmed Tinubu continues to create new opportunities for economic growth and international collaboration.

Speaking on Tuesday at the Nigeria–Saudi Diaspora Investment and Tourism Exhibition Summit 2026 in Abuja, the Minister said the Federal Government is implementing bold reforms aimed at building a competitive, investor-friendly economy driven by enterprise, innovation and private sector growth.

“Nigeria is open for business and ready for deeper partnership with Saudi Arabia. Our economic reforms are creating new opportunities for investment, trade and tourism, and we invite investors to take advantage of the enormous potential our country offers,” Idris said.

The Minister described the summit as an important platform for governments, investors and the private sector to forge practical partnerships that will expand trade, stimulate investment, create jobs and strengthen economic relations between both countries.

He said President Tinubu’s Renewed Hope Agenda is transforming Nigeria’s investment landscape through strategic reforms in infrastructure, economic diversification, agriculture, education financing, digital innovation, skills development and improved security.

According to the Minister, these reforms are laying the foundation for sustainable economic growth while enhancing Nigeria’s competitiveness as a preferred destination for regional and global investment.

“Our responsibility is to continue projecting an accurate, balanced and confident narrative about Nigeria. Investment flourishes where there is transparency, policy consistency and trust. We are committed to ensuring that the world sees Nigeria for what it truly is—a country of immense opportunity, resilience and promise,” he said.

The Minister also underscored the invaluable role of Nigerians in the diaspora as ambassadors of the nation’s economic potential, noting that their expertise, professional networks and entrepreneurial success continue to strengthen bilateral relations and attract investment into Nigeria.

He urged participants to translate discussions into concrete outcomes through increased investment, technology transfer, tourism development, innovation partnerships and joint ventures that will deliver lasting benefits to both countries.

“Let us move beyond dialogue to action. Let us build partnerships that create jobs, grow businesses, promote innovation and improve the lives of our people,” the Minister stated.

In her remarks, the Chairman/CEO of the Nigerians in Diaspora Commission (NiDCOM), Hon. Dr. Abike Dabiri-Erewa, called for stronger economic collaboration between Nigeria and Saudi Arabia through diaspora-led investments. She urged investors to explore opportunities in real estate, agriculture, tourism, logistics and other strategic sectors, stressing that Nigerians in the diaspora remain critical partners in national development.

“Our diaspora contributes far more than remittances. They bring global expertise, market intelligence, credibility and valuable networks that can unlock investment and create jobs. Let us move beyond conversations to practical partnerships that will strengthen commercial ties between Nigeria and Saudi Arabia,” she said.

The summit brought together senior government officials, business leaders, investors, development partners and members of the Nigerian diaspora to explore new opportunities for expanding investment, tourism and economic cooperation between Nigeria and the Kingdom of Saudi Arabia.

In attendance were the Vice President, Federal Republic of Nigeria, Senator Kashim Shettima, GCON, represented by the Special Assistant to the President on Export Expansion, Office of the Vice President, Mr Aliyu Bunu Sheriff; the Executive Governor of Kaduna State, Senator Uba Sani, represented by the Commissioner of the Ministry of Business, Innovation, and Technology, Patience Fakai, among other dignitaries.

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ACReSAL Mobilises Bauchi Communities on Flood Preparedness, Response

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The Agro-Climatic Resilience in Semi Arid Landscapes (ACReSAL) programme has urged Bauchi residents to embrace good environmental and sanitation habits to forestall flood disaster in the state.

The Project Coordinator, Dr.

Ibrahim Kabir, said this at a stakeholders’ engagement exercise, on Tuesday in Bauchi.

He said the exercise was designed to enhance awareness creation on flood preparedness and response to mitigate flooding, protect the environment, lives and livelihoods.

Kabir said that the engagement exercise was a first line action employed by the programme following the NIHSA’s National Flood Advisory, which predicted flooding in 17 local government areas of the state.

He said that the prediction indicated flooding would affect 1,845 communities, 145 schools, 101 healthcare facilities and eight markets across the state.

The coordinator said that Gov. Bala Mohammed directed ACReSAL to liase with the Bauchi State Environmental Protection Agency (BASEPA), State Emergency Management Agency (SEMA), and other line Ministries, Agencies and Departments (MDAs) to upscale flood preparedness and response.

Kabir said that the exercise would enable the participants, including community and religious groups, development organisations, media and MDAs, to engage in rigorous sensitisation, discussions and pre-disaster training.

“It is envisaged that the outcome of the stakeholder engagement will guide the subsequent actions, as all involved will share experiences and provide a peculiar roadmap for the state,” he said.

The state Commissioner for Housing and Environment, Danlami Kawulle, said that the state government successfully mitigated flooding via similar stakeholder engagements during the previous rainy seasons.

He said that the state government has adopted proactive climate resilience initiatives to mitigate flood, control erosion, protect lives and properties.

While commending Gov. Bala Mohammed for his commitment to environmental protection, Kawulle pledged to cooperate with groups, communities and the media to prevent flood disaster in the state.

Executive Secretary, SEMA, Aminu Nayola, said that the agency had scaled up community sensitisation as part of measures to avert the disaster.

He said that the agency was collaborating with NEMA and other agencies to enhance flood response services.

Similarly, Dr Mohammed Bose, Director-General, BASEPA, said that the agency had evacuated solid waste and cleared drains in Bauchi metropolis, to control flooding.

Bose urged residents of the state to shun indiscriminate dumping of waste, erection of structures on water ways, and plant trees to protect the environment.

On his part, Umar Sa’idu, Chairman, Nigeria Union of Journalists (NUJ), Bauchi council, pledged media support to control flooding and other environmental hazards in the state.

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Kefas Flags Off Payment of Salary Arrears After 11 Years

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From John Lamma, Jalingo

Eleven years after the salary arrears began accumulating, the Taraba State Government has flagged off the phased payment of outstanding salaries owed to local government workers, primary school teachers, pensioners and members of traditional councils, reaffirming Governor Agbu Kefas’ commitment to improving the welfare of citizens.

The flag-off ceremony was held on Tuesday, August 4, 2026, at the Ardo-Kola Local Government Secretariat in Sunkani.

The exercise was conducted by the Taraba State Bureau for Local Government and Chieftaincy Affairs through its Permanent Secretary, Engr.
Andrew Dame.

Dame said Governor Kefas approved the payment of five months of salary arrears owed since 2015 as part of his administration’s determination to improve the welfare of workers and restore confidence in the local government system.

He explained that although the governor approved the payment of five months’ arrears, the state would begin with one month’s payment due to limited financial resources, while the remaining balance would be paid in instalments over the next five months.

The Permanent Secretary described Kefas as a civil service-friendly leader who has consistently placed the welfare of citizens at the centre of his administration. He noted that the government implemented the new national minimum wage of N70,000, replacing the previous N30,000 minimum wage, as part of efforts to improve the living standards of workers in the state.

He urged local government workers, teachers and other public servants to remain dedicated to their duties by reporting regularly to work and providing quality services to the people.

Dame also directed local government chairmen and directors to ensure that the funds reached all genuine beneficiaries, including the families of deceased workers entitled to receive the payments. He assured beneficiaries that the government would faithfully implement the governor’s directive by completing the phased payment of the arrears.

In his address, the Chairman of Ardo-Kola Local Government Area, Umar Bello Badawaire, commended Governor Kefas for approving the payment, describing it as a demonstration of his concern for the welfare of workers.

He also appreciated the Permanent Secretary for ensuring that the process became a reality and pledged the loyalty and continued support of the local government administration to the governor.

The President of the Nigeria Union of Local Government Employees (NULGE), Taraba State Chapter, Comrade Bajison Wakili Damuga, praised Governor Kefas for approving and facilitating the payment of the outstanding salaries.

According to him, the decision has brought hope, relief and renewed confidence to workers, pensioners and members of the traditional councils who had waited for years for the payment.

He said the gesture reflects the administration’s commitment to workers’ welfare and strengthening local government administration, assuring the governor of the union’s continued support while urging members to remain disciplined and committed to their responsibilities.

Speaking on behalf of the beneficiaries, pensioner Elnathan Bila Auta expressed gratitude to Governor Kefas for fulfilling his promise to begin clearing the long-standing salary arrears.

He described the payment as a huge relief to retirees and their families, saying it would help reduce the financial hardship many had endured over the years.

The Chairman of the Association of Local Governments of Nigeria (ALGON), Taraba State Chapter and Chairman of Kurmi Local Government Council, Moses Maihankali, commended Governor Kefas for addressing an issue that previous administrations had left unresolved.

He said the commencement of the payment had renewed the confidence and morale of local government workers and urged them to reciprocate the governor’s gesture through dedication and productivity.

The Chairman of the Nigeria Labour Congress (NLC), Taraba State Chapter, Comrade Peter Jediel, also lauded Governor Kefas for his commitment to workers’ welfare and pledged the continued support of organised labour for the administration.

The flag-off marks the beginning of the phased payment of salary arrears owed since 2015 to local government workers, primary school teachers, pensioners and members of traditional councils across Taraba State, bringing renewed hope to beneficiaries after more than a decade of waiting.

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Nigeria’s Foreign Reserves Exceed $52.5bn – CBN

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By Tony Obiechina, Abuja

The Central Bank of Nigeria (CBN) has disclosed that Nigeria’s foreign reserves have exceeded its annual target and has climbed above $52.5 billion as of July 17, 2026, representing a 17-year high.

The apex bank attributed the country’s rising foreign reserves to renewed investor confidence and sustained capital inflows, saying its ongoing economic reforms are restoring stability to Nigeria’s financial system.

The Acting Director of Corporate Communications and Investor Relations Department of the CBN, Hakama Sidi Ali, revealed this while delivering the CBN Governor, Yemi Cardoso’s opening remarks at the CBN Fair held on Tuesday at the International Conference Centre, Gombe.

She said the increase was supported by sustained foreign exchange inflows and renewed investor participation across various asset classes in the Nigerian economy, reflecting growing confidence in the country’s economic management.

According to her, the reforms introduced under the leadership of CBN Governor Olayemi Cardoso are beginning to produce measurable gains, including improved macroeconomic stability, easing inflation and greater confidence in the foreign exchange market.

She noted that headline inflation declined slightly from 15.93 per cent in May to 15.91 per cent in June 2026, while both food and core inflation also moderated during the period due to disciplined monetary tightening, exchange-rate unification and improved market transparency.

The CBN Acting Director of Corporate Communications further stated that the naira has continued to strengthen, with the gap between the official exchange rate and Bureau de Change rates narrowing to below two per cent, a development she described as evidence of improving foreign exchange market stability.

She highlighted other reforms undertaken by the apex bank over the past 34 months, including banking sector recapitalisation, the launch of the non-resident Bank Verification Number (BVN), the B-Match foreign exchange trading platform, the Nigeria Payments System Vision 2028 and the introduction of the Nigerian Overnight Financing Rate benchmark.

She reaffirmed the CBN’s commitment to maintaining monetary and price stability while implementing policies that encourage investment, strengthen financial markets and promote sustainable economic growth.

The Branch Controller of the CBN Gombe Branch, Yunusa Buba Mubi, described the CBN Fair as an annual engagement platform designed to educate the public on the Bank’s policies and provide an avenue for stakeholders to ask questions and offer feedback.

He urged participants to actively engage in the sensitisation sessions to enhance public understanding of the Bank’s initiatives and their impact on the nation’s economy.

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