Business News
Nigeria working to attract more foreign direct investments to prepare for AfCFTA – Trade Minister
The Minister noted that the ministry is actively working to attract more FDIs into key industries.
Nigeria’s Minister of Industry, Trade and Investment, Mr. Niyi Adebayo, has said that Nigeria is actively working to attract more foreign direct investments into key industries to meet the demands of the African Continental Free Trade Area (AfCFTA).
This was disclosed by the Minister on Thursday at the virtual Nigerian-British Chamber of Commerce (NBCC) Global Investment Conference, themed “The future of Trade and Investment in Africa.”
READ: Coronavirus second wave won’t stop African Free Trade Agreement
This morning, the Honourable Minister @NiyiAdebayo_ , spoke at the virtual Nigerian-British Chamber of Commerce(NBCC) Global Investment Conference, themed “The future of Trade and Investment in Africa”.
The conference focused on three broad elements that will spur economy… pic.twitter.com/DqvUp6zl0J
— FMITI Nigeria (@TradeInvestNG) September 17, 2020
The event covered 3 key areas that will boost trade between Nigeria and the UK. They are: The African Continental Free Trade Area, Foreign Direct Investment and Economic Risk and Accessing finance for increased trade and investment.
READ: Nigeria received capital inflows worth of $33.27 billion in 17 months
“As we gear up to meet the demands of the enlarged continental market which will be fostered by AfCFTA, we are actively working to attract more foreign direct investments into key industries,” the Minister said.
The Minister added that Nigeria’s investment priorities are:
- Promoting digital economy, “considering its potential for growth, job creation and mitigating the impact of Covid-19.”
- Domesticating production through various sectoral backward integration plans.
- Exploring opportunities to boost renewable energy financing across the country.
Explore the Nairametrics Research Website for Economic and Financial Data
He urged that Nigeria should remain committed to implementing the initiatives to enable the country become a suitable environment for investment and strategic trade relationships.
Economy & Politics
Breaking: Senatorial, State House of Assembly bye-elections postponed – INEC
Senatorial and State House of Assembly bye-elections slated to hold on October 31 in 11 states have been postponed by INEC.
The 6 Senatorial and 9 State House of Assembly bye-elections slated to hold on October 31 in 11 states of the Federation has been postponed by the Independent National Electoral Commission (INEC). The vacancies were as a result of death and resignation of previous members.
According to the statement issued by its National Commissioner & Chairman, Information and Voter Education, Festus Okoye Esq., INEC said the decision was taken after meeting with the 37 Resident Electoral Commissioners (RECs) on Thursday.
Breaking News: #INEC Postpones Bye Elections in 6 Senatorial Districts, 9 State Constituencies. pic.twitter.com/RWiUomBsC6
— INEC Nigeria (@inecnigeria) October 22, 2020
Though the commission did not categorically state the reason for the postponement, feelers are that it may not be unconnected with the raging #EndSARS protests across the nation.
Details shortly…
ENDSARS
#EndSARS: President Buhari issues stern warning to hoodlums
The President has issued a warning to hoodlums who have hijacked the #EndSARS protest to promote unrest.
President Buhari, in his state of the Nation address to Nigerians this evening has warned hoodlums and the conflict entrepreneurs who have hijacked the #EndSARS protest to promote unrest.
The President explained that the choice to demonstrate peacefully is a fundamental right of citizens as enshrined in Section 40 of the Constitution and other enactments.
“I must warn those who have hijacked and misdirected the initial, genuine and well-intended protest of some of our youths in parts of the country, against the excesses of some members of the now-disbanded Special Anti-Robbery Squad (SARS),” he said.
President Muhammad Buhari frowned against the desperate and inhumane actions of mobsters, arsonists and hoodlums which has led to the loss of human lives, sexual violence, attacks on correctional facilities, as well as public and private properties which were completely destroyed or vandalized.
He explained that these bad actions will not be tolerated, as it is not in line with the legitimate expression of grievance of the youth of the country. He reiterated that the Government shall continue to ensure that liberty and freedom, as well as the fundamental rights of all citizens, are protected.
What you should know from the President’s State of the Nation address
The President reiterated that the government has the obligation to protect lives and properties, and ensure that the citizens go about their daily businesses freely and protected from acts of violence.
However, he appealed to protesters to note and take advantage of the various well-thought-out initiatives of this administration designed to make their lives better and more meaningful, and resist the temptation of being used by some subversive elements to cause chaos with the aim of truncating our nascent democracy.
The President, however, warned the youth that doing otherwise will amount to undermining national security as well as law and order, which under no circumstances will be tolerated.
President Buhari thus called on the youths to discontinue the street protests and constructively engage the government in finding solutions, as their voices have been heard loud and clear.
ENDSARS
#EndSARS: President Buhari tells Youths to discontinue street protests
The President has advised the protesters to discontinue the street protests, but rather, engage the government in finding solutions.
President Muhammadu Buhari has called on the #EndSARS protesters to discontinue their street protests and rather constructively engage the government in finding solutions.
The President disclosed this during his national broadcast on Thursday.
He said, “I call on our youths to discontinue the street protests and constructively engage government in finding solutions. Your voice has been heard loud and clear and we are responding.
“The choice to demonstrate peacefully is a fundamental right of citizens as enshrined in Section 40 of our Constitution and other enactments; but this right to protest also imposes on the demonstrators the responsibility to respect the rights of other citizens, and the necessity to operate within the law.
“And I call on all Nigerians to go about their normal businesses, and enjoin security agencies to protect lives and properties of all law-abiding citizens without doing harm to those they are meant to protect.”
The choice to demonstrate peacefully is a fundamental right of citizens as enshrined in Section 40 of our Constitution and other enactments; …
— Muhammadu Buhari (@MBuhari) October 22, 2020
Breaking: Senatorial, State House of Assembly bye-elections postponed – INEC
#EndSARS: President Buhari issues stern warning to hoodlums
#EndSARS: President Buhari tells Youths to discontinue street protests
#EndSARS: President Buhari asks international community not to make hasty decisions on developments
Breaking: Some Nigerians mistook promptness of FG response as sign of weakness – Buhari
COVID-19 Update in Nigeria
Daily Parallel Market Exchange Rate – ₦461/$1
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