News
“Saudi Arabia Should Build A Second National Grid For Us And Leave Reforms” – Shehu Sani
Former Kaduna Central Senator, Shehu Sani, recently expressed his opinion on Saudi Arabia’s support for Nigeria’s economic reforms, suggesting that the country focus on a more immediate and practical form of assistance.
Sani’s comment came in response to reports of Saudi Crown Prince, Mohammed Al Saud, assuring Nigeria of support for its economic transformation.
This assurance was made during a meeting with President Bola Tinubu on the sidelines of the Arab-Islamic Summit in Riyadh, where the two leaders discussed various areas of collaboration.
A statement from Tinubu’s spokesman, Bayo Onanuga, revealed that the leaders talked about potential cooperation in sectors such as oil and gas, agriculture, infrastructure, and the creation of a Saudi-Nigeria Business Council.
One of the key items on the table was a proposed $5 billion bilateral trade facility aimed at enhancing economic ties between the two nations.
Additionally, it was noted that the Saudi Agricultural and Livestock Investment Company (SALIC) had already made a significant investment in Nigeria, acquiring a 35.43% stake in Olam Agri, one of the country’s largest agricultural firms, with a $1.24 billion investment in 2022.
In his reaction, Sani took to X (formerly Twitter), where he jokingly suggested that while Saudi Arabia’s support for Nigeria’s reforms is appreciated, a more pressing need for the country would be the construction of a second national power grid.
Sani’s statement underscored the challenges Nigeria faces in its energy sector, with frequent power outages and inadequate infrastructure hindering the country’s growth.
He humorously added that the issue of economic reforms could be dealt with later, implying that addressing Nigeria’s energy needs should be a priority
News
Ngozi Okonjo-Iweala Says Nigeria Lacks a Maintenance Culture
The Director-General of the World Trade Organization (WTO), Ngozi Okonjo-Iweala, has spoken on Nigeria’s economy, stating that the country lacks a good maintenance culture.
She said “The fact is that endowments alone do not add value. Budgetary allocations alone do not lead to new roads or good maintenance.”
“We lack a maintenance culture in the country. I have to say that. I’m Nigerian, but we need that. We need better ports and digital infrastructure, and lower trade costs. Execution is what matters, and successful execution requires focus. It requires prioritisation.”
News
Peter Obi Criticises President Tinubu’s Statement on Hunger
Politician and former presidential candidate Peter Obi speaks on President Bola Tinubu’s comments regarding the rising hunger and worsening economic situation in Nigeria.
It can be noted that the President recently stated that hunger has always existed in Nigeria.
Peter Obi responded “I watched with deep concern the statement made by President Bola Tinubu to the Catholic Bishops, that there has always been hunger in Nigeria, even before he was born.”
“While it is true that hunger has been a part of human life and has existed in our country for decades, such a statement appears insensitive to the plight of the millions of Nigerians who face worsening economic hardship today.”
News
Nigerian Army Launches New IED Training Programme
Reports have been shared stating that the Nigerian Army has launched a new programme designed to train and improve the skills of engineers in tackling threats posed by Improvised Explosive Devices (IEDs).
The seminar is being organised by the 41 Engineer Brigade of the 1 Division Nigerian Army.
It was stated “Improvised Explosive Devices have become one of the greatest security threats confronting the Nigerian Army in ongoing counter-insurgency operations. Their widespread use has complicated military operations and humanitarian activities in conflict-affected areas.”
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