Day: April 12, 2024

African Export-Import Bank (Afreximbank) and the Prime Minister of the Commonwealth of The Bahamas on Thursday signed the Afreximbank Annual Meetings (AAM) Host Country Agreement.

The News Agency of Nigeria(NAN) reports that the signing ceremony was held during a media briefing on Thursday in the Bahamas.

NAN reports that the 31st AAM2024 will be hosted in Nassau, Bahamas, from June 12 to 15, 2024 with the theme ‘Owning Our Destiny: Economic Prosperity on the Platform of Global Africa.’

Philip Davis, Prime Minister of the Commonwealth of The Bahamas, in his remarks, said the signing ceremony was an important boost for the Bahamas and Africa and the Caribbean (AfriCarabian) visions.

‘It is with immense pride that we officially sign the agreement for the Bahamas to host the AAM in June.

‘Our ancestral history is marked by strength in the face of adversity, duty and creativity amid scarcity and the pursuit of self-determination.

‘Our dreams, hopes and aspirations are encapsulated in this moment as we look
forward to a future where Africa and the Caribbean stand shoulder to shoulder not just in solidarity but for economic collaboration for mutual prosperity.’

Davis said the AAM2024 meeting in the Bahamas was a symbol of what Africa and the Caribbean could accomplish through duty and collaboration.

‘ In today’s world amid economic and environmental challenges, instead of building more walls, we choose to build bridges of trade, innovation, financial integration and most importantly bridges connecting our people and culture.

He said the Bahama’s commitment to the mission was underscored by the preparations underway to ensure the AGM stood as a forum for dialogue and impact deliberations and collaborations.

‘ We are setting the stage for discussions to aid us in navigating the challenges of our times which include inclusivity, and the digital transformation of our economy.

‘For the bank and our partners, we extend our deepest gratitude for entrusting us with the honour of hosting this significant event.

‘Tog
ether we are celebrating the spirit of partnership, economic union of dreams, dreams of our ancestors and dreams of future generations that we pledge to realise through unity, collaboration and mutual respect.’

Davis said that in November 2022 The Bahamas and other Caribbean countries signed an agreement with AFreximbank to forge a future for the advancement of the African and Caribbean people and their economies.

The prime minister said Afreximbank’s commitment to expanding operations in the Caribbean was seen in its establishment of the Caribbean Africa Bank, adding that it was an example of potential for development in the region.

‘ As we come for the meetings, it will be remembered for the decisions made and agreements signed but also more significantly as Africa and the Caribbean came together for a better future,’ he said.

Prof. Benedict Oramah, President and Chairman Board of Directors, Afreximbank, said the signing of the agreement would solidify the partnership between Afreximbank and the Caribb
ean.

Oramah said the partnership would form a platform for global Africa to take its destiny into its hands.

He said he was grateful to the prime minister, the government and the people of the Commonwealth of the Bahamas for the honour of agreeing to host the AAM2024.

‘ By holding the 31st AAM, we collectively make a strong commitment to elevating the collaboration between the Afreximbank, the Commonwealth of the Bahamas and the entire Caribbean region to a higher pedestal.

‘It bears testament to the depth of your government’s appreciation of the importance of our unique partnership in catalysing shared growth and prosperity for all of Africa and the Caribbean.

‘It affirms commitment to ensure inclusiveness and bring the bank’s services to the doorsteps of the people.

‘Bringing the meeting to the Caribbean also offers us the opportunity to celebrate the progress we have made so far between Africa and the Caribbean.’

Oramah said the bank was working with the government of the Bahamas to develop an Afro-
Caribbeann marketplace in the Bahamas.

He said, when completed, it would be a permanent marketplace that would house manufacturing warehouses, and be a distribution and logistic hub for various tradable merchandise that Africa and the Caribbean would produce.

‘It will finally establish the Bahamas as a gateway into the Caribbean and we hope the government will work with us diligently to bring this project to completion.’

Oramah said no fewer than 4,000 participants were expected at the AAM2024 adding that the opening ceremony would be held on June 13, which would be attended by Heads of State and Heads of governments.

He said others in attendance at the meetings would be African/Caribbean leaders and senior government officials, African and non-African policymakers, corporate leaders, bankers, academics and other thought leaders.

Oramah said there would be keynote presentations by policymakers and economists and a dedicated session to showcase trade and investment opportunities in the Caribbean and the B
ahamas as well as sessions on youths, innovations and the creatives.

He said the 3rd Annual AfriCaribbean Trade and Investment Forum (ACTIF2024) will be incorporated into the AAM2024.

Source: News Agency of Nigeria

Four people died instantly Thursday night after the seven-seater vehicle they were travelling in collided head-on with a double-cab pickup on the B1 road between Otavi and Otjiwarongo.

The Namibian Police Force’s (NamPol) Head of Community Affairs in the Otjozondjupa Region, Senior Inspector Maureen Mbeha on Friday told Nampa that both vehicles involved in the accident caught fire.

‘Four occupants in the seven-seater were burned beyond recognition, and one occupant escaped with serious injuries,’ said Mbeha.

The fatal accident occurred around 23h00 about 10 kilometres south of Otavi.

Preliminary police investigations indicate that the double cab was traveling from the direction of Otjiwarongo towards Otavi with two occupants including the driver, while the seven-seater was coming from the opposite with five occupants including the driver.

The two occupants in the pickup survived the accident and were taken to the Otjiwarongo State Hospital along with the survivor from the seven-seater.

The remains of t
he four deceased were taken to the Otavi Clinic mortuary.

‘We therefore call on the members of the public with missing relatives who were travelling on Thursday to contact the Otavi Police Station,’ said Mbeha.

Police investigations into the matter continue.

Source: Namibia Press Agency

Some charity organisations and orphanages in the Federal Capital Territory (FCT) have commended Aliko Dangote Foundation (ADF) for donating bags of rice to less privileged and vulnerable households in the territory.

The groups were among the 48 organisations supporting the distribution of the rice to beneficiaries across the capital.

The representatives of the organisations said during the distribution exercise in Abuja, that the gesture was life-changing and described it as a true service to humanity.

One of them, Mrs Khadija Oladipupo, Lead Programme Officer, Mission for Education, Social and Health, said that the donation had helped in nourishing and uplifting the needy in benefiting communities.

‘Together, we are making a meaningful difference in the lives of our population, especially those in need,’ she said.

On her part, the Chief Executive Officer, Gajiya Charity Foundation, Hafsat Gimba, commended the Foundation for the support, which she described as a ‘generous assistance’.

‘The items have b
rought immense relief and comfort to the less privileged in the society during these hard times. Your kindness and compassion have touched their hearts profoundly.

‘The rice has eased their burdens and provided them with the necessities they desperately needed.

‘Knowing that there are individuals and organisations like ADF, who care deeply about the well-being of others, filled me with hope and renewed faith in humanity,’ Gimba said.

In the same vein, the President, Network of Women with Disabilities, Lois Auta, said: ‘Your commitment to supporting marginalised communities, particularly women with disabilities, exemplified your dedication to social responsibility and compassion.

‘Through your donation, you have not only alleviated the immediate needs of persons with disabilities, but also demonstrated solidarity and empathy towards our cause.’

Speaking further, the President of JADAFIA Group, Mrs Rakiya Bamalli, said that the support had enabled the group to expand its Ramadan outreach programmes.

Bamal
li said that the items distributed during the outreach included food packages, iftar meals and essential supplies to families and communities facing hardship.

This, she said, had made a significant difference in the group’s efforts to provide relief to those in need in communities.

Also, Mr Femi Akosile of Bimbola, Nutrition and Health Foundation, said that the rice had been distributed to families and individuals experiencing food insecurity.

‘Your contribution has made a significant impact on our efforts to support those in need in our communities.

‘We want to sincerely say that your partnership and commitment to making a positive difference in our communities are truly inspiring, and we are honoured to have had the opportunity to work with you,’ Akinsile said.

Earlier, the Coordinator of the exercise in Abuja, Mrs Azeeza Jibril of 1Ummah Foundation, said that the donation was impacting positively on the lives of the beneficiaries.

She identified other organisations supporting the distribution exercis
e in the FCT as Hope for Survival Children’s Home, Gishiri, Child to Child Charity Foundation, and Gajiya Charity Foundation.

Others are Dagam Pilame Community Association, Eeqra Foundation/Orphanage, and Support Our Troops Foundation for Widows, Leprosarium-Yangoji, Karmajiji Disabled Colony, NASFAT Foundation, and JIBWIS Group among other groups.

The company’s spokesman, Mr Anthony Chiejina, explained that the distribution of the rice was under the foundation’s National Food Intervention Programme.

Chiejina said that the initiative was in continuation of ADF’s commitment to supporting the government in alleviating economic hardship among poor Nigerians.

He said that a total of one million bags of rice were being distributed across the 774 Local Government Areas of the country.

He added that the exercises began in March, with official inauguration in Kano and Lagos states.

Source: News Agency of Nigeria

Archbishop of the Catholic Diocese of Abuja, Most Rev. Ignatius Kaigama, has inaugurated the ‘Environmental Regeneration Briquette Project’, to ensure a better environment and address the economic challenges of Nigerians.

Kaigama while inaugurating the project said it would provide eco-friendly alternatives to firewood, targeting households struggling with harsh economic conditions, in Sheda, Kwali, FCT.

He said the project has the potential to reduce emissions and pollution, urging everyone to participate in environmental conservation.

He emphasised the project’s importance in protecting and preserving the environment, noting its significant impact on households and the broader community.

The News Agency of Nigeria (NAN) reports that briquette production plant project is the initiative of Justice Development and Peace Commission (JDPC), a Catholic Church NGO and funded by Catholic Agency for Overseas Development (CAFOD).

Earlier, the Chairman, JDPC, Mr Josephat Abaagu, expressed gratitude to CAFOD for
its funding support, highlighting the project’s focus on environmental sustainability and community empowerment.

According to him, the project is aimed at empowering women, youth, and parishes within the Catholic Archdiocese of Abuja and beyond by providing sustainable energy sources.

Abaagu said the importance of empowering marginalised groups and creating economic opportunities could not be over emphasised.

‘This project is not just about producing eco-friendly charcoal but about empowering women, youth, and perishes within Archdiocese of Abuja and beyond.

‘By providing alternative sustainable sources of energy, we are not only reducing the strains on our environment but also creating economic opportunities for marginalised groups in the society.

‘Through this project, we aimed to provide training, resources, and support to enable our women and youth to participate actively in the production and marketing of briquettes charcoal,’ he said

Abaagu said this would not only improve their livelihoods but al
so foster a sense of ownership and pride in their contribution to environment conservation.

He called for collaboration and support from stakeholders to ensure the project’s success, urging everyone to work towards a more sustainable and inclusive future.

Giving an overview of the project, Mr Timothy Ejeh, the Programmes Director, JDPC, said the project was the organisation’s commitment to social justice and human dignity, particularly focusing on empowering women and youth.

He said the project, ‘Livelihood Support and Environmental Regeneration through the use of Eco-Friendly Briquettes Project seeks to improve livelihoods and reduce reliance on traditional biomass fuels.

The project, in partnership with CAFOD, would address the rising demand for fire wood in Nigeria through the production of briquettes from bio-waste materials.

Ejeh, who said the project’s deliverables, included a reduction in conventional fuel use and improved livelihoods for vulnerable populations, called for support from stakeholder
s to ensure its success.

‘This project will provide economic opportunities and promote environmental sustainability, and we have two machines, one locally made which will be producing this briquettes charcoal for our consumption (market).

‘The two machines have the capacity to produce 200,000 briquettes charcoal daily. This is to tell you that we are market ready.

‘We also introduced what is called ‘Cash for trash’. That’s when you provide us with raw materials to be used to produce these briquettes, and there’s going to be 65 per cent reduction in our supply to you,” he said.

Ejeh said when the project started earlier; the raw materials were available and almost free.

He said later people discover what it was meant for, which lead to price increase, and accessing it becomes difficult, hence the introduction of the ‘Cash for trash’ project

While saying that the stoves were also available and were in different sizes and amounts, Ejeh urged Nigerians to make use of this golden opportunity, adding that it
was cheaper compared to gas.

A representative from the Ministry of Agriculture and Food Security, Mr Michael Adegboye, said that this project would not only provide a source of livelihood to many people but also help in climate change mitigation.

‘Obviously, this is a good way to join hands with the government in rural socio-economic development, which is an aspect of my ministry’s mandate.

‘Similarly, the project will help reduce environmental degradation, which is necessary for improved agricultural production.

‘I therefore enjoin the beneficiaries of this important project to make judicious use of it and ensure its proper maintenance.

‘I want you to know that the Federal Government is doing everything possible to ensure that there is food on the table of Nigerian citizens,’ he said

On his part, Mr Kelechi Emeh, the Country Representative, CAFOD, appreciated the inauguration of briquette production plant.

He noted that this would help in mitigating the use of unsustainable practices such as deforesta
tion and inefficient burning techniques which have led to widespread air pollution and health hazard.

‘This event marks a milestone in addressing the growing concern about the environmental impact of the traditional charcoal production methods and underscores the efforts of CAFOD in ending this menace.

‘In response to these challenges, CAFOD funded and supported the development of this safe briquettes charcoal as a sustainable alternative that offers a promising solution for a cleaner and healthier future,” he said. (NAN)(www.nannews.ng

Source: News Agency of Nigeria

The Minister of the Federal Capital Territory (FCT), Mr Nyesom Wike, has reiterated the FCT Administration’s commitment to take development to rural areas.

Wike stated this on Friday, while inspecting ongoing construction of 11-kilometre Yangoji-Sukuku Ebo-Road and Kwali Unity Bank Road in Kwali Area Council of the territory.

He said: ‘I feel delighted that we are taking development to rural areas.

‘For me, it is very important to ensure that while actualising the ‘Renewed Hope’ agenda of President Bola Tinub, rural communities also benefit from dividends of democracy.

‘The rural areas are part of the FCT and should enjoy good governance.’

The minister pointed out that development should not be concentrated in the capital city.

This, according to him, will significantly mitigate rural urban migration being experienced in the FCT.

‘You need to give rural dwellers infrastructure to be able to develop their communities.

‘Providing infrastructure, particularly roads, is key to the development of communit
ies so that they can feel the impact of governance,’ he added.

He urged the contractor, Gilmor Engineering Ltd, to speed up the work to meet the agreed delivery dateline.

Wike also called on council chairman to monitor the execution of the project and not rely on reports by civil servants.

He assured that the FCT Administration would do all that needed to be done to ensure the completion of the projects.

Source: News Agency of Nigeria

The Federal Government says measures are being put in place to restore oil production in view of recent concerns regarding shortfall in oil production in Nigeria in the first quarter of 2024.

Sen. Heineken Lokpobiri, Minster of State for Petroleum Resource (Oil) said this in a statement by his Special Adviser, Media and Communications, Nneamaka Okafor, on Friday in Abuja.

He said the Federal Government was actively engaged in policy evolution aimed at maximising the utilisation of all available wells in Nigeria.

The minister clarified that the oil production shortfall was primarily due to issues encountered on the Trans Niger Pipeline, coupled with maintenance activities carried out by some oil companies operating in Nigeria.

‘In response to recent concerns regarding a shortfall in oil production in Nigeria during the first quarter of 2024, measures are being taken to address the situation to, not only restore production to previous levels, but to also increase it.

‘The issues have been adequately addre
ssed, and production is expected to return to its previous levels in the coming days,’ the minister said.

Lokpobiri said Nigeria’s oil production, including condensate, which was approximately 1.7 million barrels per day (bpd) prior to these developments, would soon be restored.

‘Furthermore, the Ministry of Petroleum Resources is actively engaged in policy evolution aimed at maximising the utilisation of all available wells in Nigeria.

‘This strategic approach will enable the country to ramp up production, thereby generating vital revenue to stabilise the nation’s foreign exchange reserves.

‘The increased revenue will also empower the government to fulfill its commitments in providing essential infrastructure, as outlined in the 2024 budget,’ he said.

He further assured of renewed hope as Nigeria navigates through these challenges.

He urged all to remain committed to ensuring the sustainability and growth of Nigeria’s oil sector, which plays a crucial role in driving the nation’s economy.

The Monthly
Oil Market Report (MOMR) for April 2024, released by the Organisation of Petroleum Exporting Countries (OPEC) had revealed that the country’s oil production recorded a second consecutive decline since the beginning of 2024.

The OPEC MOMR indicated that the country produced 1.322 million barrels per day of crude in February 2024 but this dropped to 1.231mbpd in March, representing a decline of 91mbpd.

Source: News Agency of Nigeria