STATE HOUSE PRESS RELEASE
President Bola Tinubu has allayed the concerns of the business community, assuring them that crucial plans are underway to improve foreign exchange liquidity.
The President said his administration will honour every legitimate contract with respect to the nation’s foreign exchange obligations.
Speaking at the 29th Nigerian Economic Summit (NES) in Abuja, on Monday, President Tinubu said he is confident that by working closely with the private sector, financing the Three Trillion Dollar National Infrastructure Stock can be achieved in 10 years and not in 300 years.
The President said the construction of megacities in every geopolitical zone of the size and scale of Lagos must not take six decades because it can be achieved in one decade, emphasizing that a fully networked and connected Nigeria by rail, gas, fibre optics and road network can be constructed in less than 20 years with thriving Industrial Zones in every geopolitical zone of Nigeria before 2030.
“Consistent with our commitment to enshrining fairness and the rule of law in our country, this government will uphold the sanctity of every legitimate contract. Specifically, as it relates to the foreign exchange obligations of the government, all forward contracts that the government has entered into will be honoured and a framework has been put in place to ensure that these obligations are met in due course.
“My government is not blind to the challenges which several of you are facing in the financial markets. I can allay these concerns by revealing that we have a good line of sight into the additional foreign exchange liquidity that is required to restore market confidence,” the President said.
Assuring the business community of a fairer and safer playing field for all, the President said his administration is strengthening the machinery and architecture of governance by establishing a public and civil service culture and structure that is performance and result-oriented, adding that: “We shall govern ethically, with accountability and transparency; implementing sound and effective policies to accomplish our Eight Priorities.”
President Tinubu outlined the eight priority items of his administration as ending poverty, achieving food security, economic growth and job creation, access to capital across all segments of society and the economy, inclusivity, security, fairness and rule of law, and anti-corruption, stating that he is committed to delivering improved livelihoods and positive economic outcomes which Nigerians can tangibly feel and experience.
Recognizing the institutional frailties of past years and his pragmatic approach to achieving his bold agenda through a path that fully accounts for present-day challenges, the President said: “With the effects of an unsustainable fiscal deficit and hidden subsidies, these factors distorted the money supply and created an unfair playing field for an elite crop of unpatriotic forces. But that is no more. These changes have been tackled head-on. My government has introduced several measures to resuscitate the economy; including the Five Hundred Billion Naira intervention to support small businesses and the agricultural sector. By January 2024, the new student loan program and consumer credit schemes will have come into effect.
The President called on the private sector to support his vision for a greater Nigeria, saying: “I would like to charge YOU, the Captains of Industry here present, to commit and redouble your commitment to our vision of a Renewed and more Prosperous Nigeria, a better Nigeria for all. For us to successfully deliver our promise to Nigerians, we recognise that it is imperative that we foster a highly collaborative relationship with the private sector. We must work together. I have proven capacity in this regard, as we remember the role of public-private partnership in the transformation of Lagos State under my leadership. We will replicate that across Nigeria with your unwavering support.
“Today, I urge you, as Nigeria’s foremost private sector think tank and policy advocacy group, to go much further than you have done before. Bring your ideas, bring your leadership, bring your capital, bring the collective will of your large conglomerates and business networks. Let us build a future of renewed hope. My government is prepared. Are you also prepared?”
The annual Nigerian Economic Summit is organized by the Nigerian Economic Summit Group in collaboration with the Federal Ministry of Budget and National Planning.
Chief Ajuri Ngelale
Special Adviser to the President
(Media and Publicity)
October 23, 2023
STATE HOUSE PRESS RELEASE
PRESIDENT TINUBU APPLAUDS NIGERIA’S LANDMARK VICTORY IN P&ID CASE
President Bola Tinubu applauds today’s judgment rendered by Judge Robin Knowles of the Business and Property Court in London, awarding a landmark victory to the Federal Government of Nigeria over a firm known as Process & Industrial Development (P&ID) Limited.
Following Judge Knowles’ dismissal of the $11.5 billion (USD) value of the award plus accumulated interest, previously won by P&ID over a failed 2010 deal to allegedly build a gas processing plant, on the grounds that the award was obtained by fraud, President Tinubu commends the UK Court for prioritizing the merits of the case above all other considerations.
“This landmark judgment proves conclusively that nation states will no longer be held hostage by economic conspiracies between private firms and solitarily corrupt officials who conspire to extort and indebt the very nations they swear to defend and protect.
“Today’s victory is not for Nigeria alone. It is a victory for our long exploited continent and for the developing world at large, which has for too long been on the receiving end of unjust economic malpractice and overt exploitation.
“Nigeria is appreciative of the tremendous efforts of the defense team and acknowledges the role of the Federal Ministry of Justice and the Office of the Attorney-General in the process of defending Nigeria’s interest in this case,” the President stated.
Chief Ajuri Ngelale
Special Adviser to the President
(Media & Publicity)
October 23, 2023
PRESS RELEASE
COWLSO SEEKS MORE EMPOWERMENT INITIATIVES FOR THE YOUTH
…Urges Women To Be Conscious Of Digital Dangers, Adopt Homestead Farming
The Committee of Wives of Lagos State Officials (COWLSO) has called on government at all levels and the private sector to focus more on empowerment initiatives targeted at creating an enabling environment for Nigerian youth to thrive in their chosen fields.
In a communique issued at the end of the three-day National Women’s Conference (NWC) of COWLSO, the Committee recommended that the youth of today should be empowered, motivated and their interests factored into the decision-making process.
The COWLSO NWC is an annual event organized to empower women with thought-provoking discussions, incredible stories, and the opportunity to connect with extraordinary women from all walks of life.
This year’s theme was: “Unleash Your Potential.”
According to the Communique jointly signed by the Chairman of COWLSO and the First Lady of Lagos State, Dr. (Mrs.) Claudiana Ibijoke Sanwo-Olu, and the Chairperson of the Conference Planning Committee, Professor Olufunke Adeyeye, COWLSO said: “It is also important to invest in the dreams of the youths as this is the generation of skill, talent, and dreams.”
The Committee cautioned women to be more alert to digital dangers and be equipped with practical knowledge to navigate the online world securely.
The group said in view of hostile and toxic content online, it has become imperative to advise women to carefully choose what they consume on social media.
“It is recommended that we tell good stories about ourselves. Though controversial stories pull more crowds on social media, and you could make more money from stories like that; however, we can put out better stories. Whoever we are, that’s our story.”
Besides, the Committee urged women to adopt homestead farming to enjoy some of the numerous benefits such as reduction of malnutrition, provision of employment opportunities, and improvement of the economy of the state through the Internally Generated Revenue (IGR).
Homestead farming, according to COWLSO, also serves as a source of income for the household, just as women were encouraged to make eco-friendly choices that would have a positive multiplier effect on the planet.
“These choices include efficient use of energy, sustainable development, transportation, water conservation, and planting of trees.
“We should eat a proper diet (fruit/vegetables), take enough water (eight glasses per day), do frequent exercises, get enough rest, and do routine medical checkups.
“We should also enroll in a health insurance policy, for example, ILERA EKO. This will help to prevent out-of-pocket expenditure,” the communique read in part.
The Committee also emphasized the need for all stakeholders to renew their commitment to gender equality in education and skill empowerment, especially in supporting, training, attracting, and rewarding women at all levels.
COWLSO is a platform for wives of government officials to complement the efforts of their spouses in fast-tracking development and advancing the interest, welfare, and well-being of the people, especially women and children.
OLUBUKONLA NWONAH
DEPUTY DIRECTOR, PUBLIC AFFAIRS
OFFICE OF LAGOS STATE FIRST LADY
OCTOBER 22, 2023
PRESS RELEASE
WE ARE INTENTIONAL ABOUT MAKING LAGOS PREFERRED TOURISM DESTINATION, SAYS SANWO-OLU
Lagos State Governor, Mr. Babajide Sanwo-Olu, has reiterated his administration’s commitment toward making the State a tourism station in the world in line with the Entertainment and Tourism pillar of the THEMES+ developmental agenda.
Governor Sanwo-Olu said his government is intentional about making Lagos State, particularly Badagry, a preferred tourism destination.
He spoke on Monday while receiving the Chairman and Chief Executive Officer of Nigerians in Diaspora Commission (NiDCOM), Hon. Abike Dabiri-Erewa who led a delegation of Nigerians in the Diaspora for a courtesy visit at Lagos House, Ikeja.
The delegation included Dr. Julius Marcus Garvey Jnr., son of foremost civil rights leader, Marcus Garvey, and the Jogbe of Badagry kingdom, David Anderson, among others.
The delegation visited Governor Sanwo-Olu to appreciate him and the Lagos State Government for a successful celebration of this year’s edition of the Diaspora Festival, dubbed, ‘Door of Return’ in Badagry.
The Door of Return, initiated to help some Black Diasporas trace their roots to Nigeria and Africa at large, was celebrated last Saturday in the ancient city of Badagry, Lagos.
Speaking during the courtesy visit, Governor Sanwo-Olu said his administration will partner with relevant stakeholders, especially the people in the Diaspora to grow and strengthen the Door of Return festival and promote the cultural heritage of Badagry, Lagos and Nigeria at large.
Governor Sanwo-Olu also commended the Chairman of the Nigerians in Diaspora Commission, Abike Dabiri-Erewa, for the initiative of the Door of Return and her efforts in championing the interest of Nigerians in the Diaspora.
Speaking earlier, Dabiri-Erewa commended Governor Sanwo-Olu for his support towards the celebration of Door of Return and the actualisation of the Diaspora Festival that took place in Badagry last Saturday.
The NiDCOM boss urged the Lagos State government to support the project by building a Permanent Door of Return in Badagry to attract more people in the Diaspora willing to trace their roots to Nigeria.
Also speaking, Julius Garvey and David Anderson, hailed Governor Sanwo-Olu and the Lagos State Government for their tremendous support for the festival and for showing keen interest in tourism.
They also expressed their joy for the success of the Door of Return Programme, which gave opportunities to many Nigerians in the Diaspora to visit Nigeria for the first time
Garvey and Anderson, who promised to partner with Lagos State on tourism, expressed their continued support to preserve African culture and heritage.
SIGNED
GBOYEGA AKOSILE
CHIEF PRESS SECRETARY
23 OCTOBER 2023
