Category: Nigerian Tribune

Executive Director, Institute for National Transformation (INT), Mrs Bukola Femi-Ajala, said that Small and Medium-sized Enterprise (SME)’s make up 96 percent of business in Nigeria.

Femi-Ajala said that this contributes to 46-48 per cent in GDP.

She stated this at the University of Ibadan School of Business Students Association 2025 Week with the theme: ‘Transforming Realities Into Business Opportunities.’

She said that SME’s account for 84 to 88 per cent of employment in Nigeria.

’39 per cent of businesses are owned by women. This implies a 39 per cent female ownership rate in the country higher than 29 per cent of sub-sahara Africa and 34 per cent global average,’ she said.

She, however, urged the government to look at youths and see into what will make them thrive.

‘Looking at age, we have high youth population which inturn is innovation and energy.’

Similarly, Dr Olufunmi Adegbile, Managing Director, Royal Spices Planner and Managers, said that business is not about products or profits alone but the people.

Adegbile said that business is giving good customer service to people at all times.

‘Giving each job or service the utmost best at all times should be top tier, the quality of your service would determine how far you would go and what you will attain,’ she said.

Former Director of the University of Ibadan School of Business, Professor Adenike Osofisan, said that when establishing the school there was no school in the world that covered the syllabus they wanted to start with.

Osofisan said that other business schools were offering one of a few of what we wanted to start, non had all courses we were establishing.

‘We established this school with focus on what we depend on in Nigeria asides course that MBA is used to.

‘This school was the first to be accredited by National University Commission. We’re collaborating with IITA with respect to agriculture business, where students are going there for lectures and practical lessons,” she said.

TODAY, Chief (Mrs) Olaitan Victoria Abiodun, educationist, businesswoman and community leader, clocks 90. As the Book of Psalms proclaims, it is the Lord’s doing and it is marvelous in our sight. As the day begins with songs of praise, Mama will lack the company of her husband of many years and praise and worship partner, Dr. Emmanuel Adesanya Abiodun, fondly called Baba Teacher, but she will be surrounded by the love, warmth and presence of her dear children, including the Ogun State Governor, Prince Dapo Abiodun (MFR, CON); her grandchildren, extended family members, friends and well wishers. In a country where life expectancy is just a little above 54 years, it is great, in fact glorious, to be 90, hale and hearty, basking in the grace of Almighty God: the celebrations have been fully deserved.

. The years have not been without challenges, obstacles, many of them daunting, but as the Holy Writ declares, there is a compassion from on high that is new every morning, and faithfulness that is great. It is too lofty to be properly captured in words. Mama at 90 is not about sagacity, design or intention: it is the sheer mercy and love of the Almighty: pure, boundless and unfeigned. To live to be 90 in a country plagued by many ills, and having fought so many battles, calls for precisely the thanksgiving that Mama and her family and friends are offering today. Let us all join Mama in her feast of thanksgiving.

Born on 15th of October,1935 to the family of Mr Raji Alli Balogun and Mrs Adijatu Kubura Alli Sobowale in Iperu Remo, Ogun State, Chief (Mrs) Olaitan Victoria Abiodun began her primary education at Bishop Oluwole Memorial Primary School Agege, Lagos, and later proceeded to St James. Anglican Primary School, Iperu, where she completed her primary education in 1955. In 1956, she started teaching at the African Church Primary School, Iperu, also known as Bethel. The desire to acquire more knowledge took her to the Teacher Training College, Iperu, where she obtained her Grade 3 certificate. It was time to be posted to St Paul’s Anglican Primary school, Ijokun Sagamu where she taught from 1958 to 1962.

In 1963, she got admission into the Teachers Training College, Idi-Aba, Abeokuta, for her Grade 2 certificate. Armed with that certificate, she worked at IJABCOL Grade 2 Teacher Training College and Modern School in Iperu, and in 1968 she moved with her husband to Ayetoro Egbado (now Yewa North). Her husband taught at the Comprehensive High School, Ayetoro, while she was transferred to United Primary School, Ayetoro, where she taught till early 1971 when she moved to Ondo town with her husband who had just joined the staff of the prestigious Adeyemi College of Education Ondo, an institution affiliated to the then University of Ife, now Obafemi Awolowo University, Ile-Ife. She taught at the Local Authority School (1) in Ondo, then in October 1972 she gained admission into Adeyemi, where she studied Home Economics. After her graduation, she was posted to Ondo High School, Ondo, where she was made the head of the Home Economics Department. And this was where she retired in1986, following which she took up trading and extended her frontiers far and wide.

At 90, Chief (Mrs.) Victoria Olaitan Abiodun stands as a living testimony to grace, faith, and enduring values: her life reflects devotion to family, service, and community. As she says, ‘I feel deeply grateful to God. Ninety years is not a small journey. It’s been grace all through – grace that carried me through marriage, motherhood, teaching, and service to my community.’

Life as a child, she recalls, was modest but meaningful: ‘We valued hard work, honesty, and community. Education was our key to freedom, and that belief guided everything I did.’ Her marriage was great: ‘My late husband and I were both teachers. We both believed teaching was more than a job – it was a ministry. ‘Baba Teacher,’ as people called him, used to say that when you teach a child, you are shaping the world. We wanted to shape lives, and we gave our hearts to it. In those days, there was no social media – only purpose and prayer. We met through mutual friends in Ibadan, both of us teachers, and we shared the same values. We married in 1960, and it was the beginning of a long, blessed journey. I had 65 years of marriage, a rare blessing.’

The Ogun State Governor is her first born and the bond between mother and son is indeed cast in stone; unbreakable. As the American writer Sara Hale says, there is no influence so powerful as that of that of the mother. Sometimes the strength of motherhood is greater than natural laws, says the Pulitzer Prize-winning American novelist, essayist, and poet, Barbara Kingsolver; and that is why the great Abraham Lincoln crafted these unforgettable lines: ‘All that I am, or ever hope to be, I owe to my angel mother.’ For Dapo Abiodun, and in the words of the poet, Emily Dickinson, a mother is one to whom you hurry when you are troubled. Mama is her son’s unceasing fountain of support who trained him to be ready to dare, and to go against the norm to set new standards. During his 42nd birthday in Ikoyi, Lagos, she spoke glowingly about him, saying with pride: ‘ I am the one and only mother of Dapo Abiodun.’ She trained her children well, and her counsel combined with great vision has given the Gateway State a Governor turning barren land to construction sites. Go to the Gateway Airport and see wonders in architecture and engineering; go to Olumo Rock and see the power of renewal. Go to the MKO Stadium and see what it means to have a Governor imbued with strategic foresight.

Her pride in her son is not just because he’s Governor, but because he has remained humble and focused on service. Her word to him as he hits 90 cheers is to fear God, listen to advice, and never forget the poor: power should bring compassion, not arrogance. The key to success, she avers, is to work hard, respect elders, and build your future with integrity. Why? ‘The world is moving fast, but good character never goes out of fashion.’

Her words are indeed words on marble, and are fitting in closing this piece: ‘ I believe in quiet strength. You don’t have to shout to lead. I speak when it is necessary, and I stand by truth. That is how I was raised, and that is how I raised my children. I want women to see themselves as builders – of homes, of society. Women, support your husbands, raise your children well, and never stop learning. Women carry the soul of the nation. My greatest legacy is a good name. The Bible says a good name is better than riches.’

Lagos State Governor, Mr. Babajide Sanwo-Olu, has called for synergy and cordial relationship between the state government and the Nigeria Ports Authority (NPA) to make ports in Lagos better.

Governor Sanwo-Olu made the call during a courtesy visit by the NPA Board of Directors led by its Chairman, Senator Adedayo Adeyeye, at the Lagos House, Marina.

The governor, while making the call, noted that ports play a vital role in Lagos and Nigeria’s economy, stressing the need for both the state government and NPA to work together to realise the aspirations and promises of President Bola Tinubu to Nigerians.

This was just as Governor Sanwo-Olu said his administration had done a lot to address the issue of traffic congestion in Apapa, attributing 60 per cent of the accidents on Lagos roads to carelessness of truck drivers loading goods from ports in the state.

‘We have significantly solved the Apapa gridlock problem. We have been part of the solution of the Apapa and Tin Can Port’s traffic congestion, knowing that it is in our collective interest to do so because they are national assets that generate revenue for the country.

‘We understand the vital role our ports play in Lagos and Nigeria’s economy because ports are critical assets. I believe we can do better if we work together.

‘We are willing to support. It is in our interest to work with NPA to ensure that all of the aspirations and promises of President Bola Tinubu are realisable. We are committed totally to supporting them,’ the governor stated.

Senator Adeyeye, in his earlier remark, commended Governor Sanwo-Olu’s administration for solving the Apapa traffic gridlock and for maintaining a good relationship with NPA, assuring that the agency was ready to promote a good relationship with Lagos.

Adeyeye expressed delight with what was happening in Lagos, acknowledging the state as the best environment ‘in terms of community and government relations with the Nigeria Ports Authority.’

According to him, NPA enjoys a good relationship with its host community and the Lagos State Government, saying that the state remained one ‘with the least problems.’

‘We are happy with what is happening in Lagos because this is the best environment we have seen in terms of community and government relations with the Nigeria Ports Authority. NPA enjoys a good relationship with its host community and the Lagos State Government, and this is the state with the least problems,’ he said.

In a related development, Governor Sanwo-Olu has described small and medium businesses as the real drivers of the economy and stressed the need to strengthen the Small and Medium Enterprises (SMEs).

The governor gave this position during a courtesy visit by the Director-General and Chief Executive Officer (CEO)of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Mr. Charles Odii, at Lagos House, Marina.

Speaking during the visit, Odili, who praised Governor Sanwo-Olu’s commitment to the promotion of SMEs in Lagos, called for continuous support from the state government for small and medium businesses.

The Olubadan of Ibadanland, Oba Rashidi Ladoja, has inaugurated a five-member committee to address issues of land grabbing and related offenses in the city.

The committee, which will approach the problem from a legal perspective, includes Chief Niyi Akintola (SAN), Barrister Musibau Adetunbi (SAN), Yinka Okunade, Rahman Abiodun AbdulRaheem, and Tunji Thomas.

According to a statement by the monarch’s media aide, Chief Adeola Oloko, Oba Ladoja authorised the committee to co-opt experts from other fields – including town planning, surveying, security, and the legal sector – to support their work in combating land grabbing.

Barrister Musibau Adetunbi, one of the members, was in court during the inauguration, which took place in the presence of the Olubadan-in-Council.

Oba Ladoja said both the Oyo State Government and the Olubadan-in-Council shared the same commitment to rid Ibadan of the land-grabbing menace.

According to him, ‘land grabbing is like an interlocking web of complex connections involving diverse interests that need to be unravelled. I know each of you very well. While we entertain no illusion as to the gravity of your responsibility, I have no doubt in my mind that you have the capacity to carry out the responsibility.’

The monarch directed the committee to begin work immediately and submit its recommendations within 21 days. He clarified that the legal advisory committee would work alongside the existing land matters committee led by Mogaji Asimiyu Ariori.

Supporting the Olubadan’s position, the Balogun of Ibadanland, Oba Tajudeen Ajibola, said it was time for decisive action against land grabbing, which had repeatedly endangered residents.

He said, ‘If it were possible, we should seek the establishment of anti-land grabbing tribunals in all eleven local government councils in Ibadanland.’

Speaking on behalf of the committee, Chief Niyi Akintola (SAN) thanked the Olubadan and the Olubadan-in-Council for the opportunity to serve. He described the appointment as a call to duty and appealed for cooperation from the Oyo State Government and Ibadan residents in tackling land grabbing.

He added that the committee’s work would align with the state government’s position, as the administration also opposes land grabbing.

The meeting, presided over by Oba Rashidi Ladoja, was attended by several members of the Olubadan-in-Council, including the Balogun of Ibadanland, Oba Tajudeen Ajibola; Otun Balogun, Oba Kola Adegbola; Otun Olubadan-Designate, Oba Eddy Oyewole; Osi Balogun, Oba Olubunmi Isioye-Dada; Osi Olubadan-Designate, Oba Abiodun Kola-Daisi; Asipa Olubadan-Designate, Oba Hamidu Ajibade; Ekerin Balogun, Oba Akeem Adewoyin; and Ekerin Olubadan-Designate, Oba Adebayo Akande.

Also present were the Bobajiro of Ibadanland and former Oyo State Head of Service, Chief Tajudeen Aremu, as well as the Ajiroba, Professor Soji Adejumo.

The House of Representatives on Wednesday unveiled plans to investigate allegations bothering on flagrant abuse of due process, violation of local content laws, breach of provisions of the Petroleum Industry Act, 2021, and non-compliance with tax laws by oil and gas companies operating in Imo State.

The resolution was passed sequel to the adoption of a motion sponsored by Hon. Patrick Okafor, who solicited the House’s intervention.

In his lead debate, Hon. Okafor, who represents Ehime Mbano/Ihitte Uboma/Obowo Federal Constituency of Imo State, expressed grave concern that several international and indigenous oil companies operating in the state, including Seplat Energy Plc, Niger Delta Petroleum Resources (NDPR), Sterling Oil Exploration and Energy Production Co. Ltd. (SEEPCO), Waltersmith Petroman Oil Limited, Associate Oil and Gas Limited, Chorus Energy Limited, TotalEnergies/NNPC JV, and NNPC Limited, have allegedly failed to comply with key legal provisions governing the sector.

According to him, these companies have ‘blatantly disregarded’ provisions of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act 2010, the Petroleum Industry Act (PIA) 2021, and the Taxes and Levies (Approved List for Collection) Act.

He further alleged that the companies have persistently violated Sections 11, 28, and 35 of the NOGICD Act by neglecting to employ qualified indigenes of Imo State and refusing to award contracts to competent Nigerian firms, particularly those from the host communities.

‘It is worrisome that these companies have failed to establish functional operational offices within their host communities as mandated by law, thereby denying Imo State valuable economic activity and employment opportunities.

‘They have also obstructed lawful efforts by the Imo State Government and the Internal Revenue Service (IIRS) to assess and collect approved state taxes and levies,’ the Okafor stated.

He noted that the companies’ failure to comply with the Host Communities Development Trust (HCDT) provisions of the Petroleum Industry Act has deprived host communities in Ohaji/Egbema, Oguta, and other oil-producing areas of much-needed development projects.

‘This investigation is not a witch-hunt. It is about fairness, compliance with the law, and ensuring that host communities in Imo State benefit from the resources extracted from their land.

‘These acts of non-compliance have led to immense frustration and growing agitation among the people, posing a palpable threat of social unrest in the oil-producing communities,’ he said.

The lawmaker cautioned that continued neglect and disobedience to statutory obligations could trigger violent protests, disrupt oil production, and threaten national security.

The House unanimously adopted the motion, and urged all oil and gas companies operating in Imo State to urgently comply with the provisions of the NOGICD Act and PIA, ensure the employment of indigenous workers, establish operational offices in their host areas, and allow state tax officials lawful access to their premises.

To this end, the House mandated its Committee on Nigerian Content Development and Monitoring to invite the chief executives of the seven oil companies, heads of the Nigerian Content Development and Monitoring Board (NCDMB), Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and Imo State Internal Revenue Service for questioning.

The House further mandated its Committees on Nigerian Content Development and Monitoring, Corporate Social Responsibility, Petroleum Resources (Upstream), Petroleum Resources (Downstream), Midstream, Finance, and Justice to investigate the alleged violations and report back within four weeks for further legislative actions.

Former presidential candidate of the Labour Party (LP), on Wednesday, advised newly-appointed Chairman of the Independent National Electoral Commission (INEC), Professor Joash Omupitan, not to put his reputation on the line by failing to conduct credible elections for the country.

He said the nominee, awaiting confirmation by the Senate, must strive to do the right thing throughout his tenure and leave a good legacy to avoid being remembered in the future for the wrong reasons.

The former governor of Anambra State, who spoke with reporters shortly after arrival in Abuja, noted that Omupitan must remember that he would leave office one day and live with the consequences of his actions as the head of the electoral umpire.

Obi stated, ‘It is for the good of everybody. None of us is going to be here forever and none is going to be in his position forever.

‘So, whatever position we find ourselves in, it’s to do the right thing. So I wish him well.

‘When he (Amupitan) is confirmed, I will congratulate him and tell him to know that one day, he’s going to leave that post. Let him ensure that he keeps his reputation.’

Obi added that Nigeria had had enough rough electoral experience and needed an umpire that would do the simple job of conducting credible elections.

‘He’s a Nigerian. We want a new Nigeria where elections will be free, fair and credible and our people who have the competence, capacity, compassion, character and commitment to lead the nation are elected’, he further reacted.

The former governor, who visited the Local Government Education (LEA) Primary School, Kapwa, Lugbe, in company with the African Democratic Congress (ADC) Abuja Municipal Area Council (AMAC) candidate for the upcoming FCT Area Council elections, Dr Mose Paul, observed that credible polls would produce good leaders who felt the pain of the people.

For instance, he said the school had no adequate chairs, desks, toilet facilities and water, adding that such needs should be what leadership should focus on and not the fight for political party tickets.

He went on, ‘I am here today to support my brother, Dr Moses Paul, the ADC candidate contesting for AMAC Council. You know he is campaigning and going round the communities in his constituency.

‘He told me that he went to a school that has no chairs for teachers. They have no toilet. So I told him to let us go and see it.

‘That’s what I believe leaders should do. Visit schools and other public facilities to see things. As governor, I visited all the primary and secondary schools in Anambra State. I always like going to see it.

‘If you talk about sincerity of purpose in Nigerian politics today, you cannot count me as one who is insincere. I’m the only person who finished in office and left public money.’

Obi, who also commented on the defection of Enugu State Governor, Peter Mbah, from the Peoples Democratic Party (PDP) to the APC, disagreed with the view that the ruling government was all about capturing the South-East, adding that Mbah probably acted on his own personal ‘political decisions and calculations’ before moving.

‘As for the alleged plot to capture the South-East, we are not in a military time when you capture people.

‘You are a leader. You tend to do the right things for them to follow you. So, I don’t think anybody is capturing anywhere. But, the government needs to do more if they want the people to support them’, Obi stated.

It was a moment of colour, culture, and prestige at the Palace of the Obi of Awka on Friday, October 11, 2025, as Ambassador Young Piero Omatsaye was honoured with the Key to Open Door of the Awka Kingdom in recognition of his outstanding contributions to community development, cultural promotion, and humanitarian service across Africa.

Ambassador Omatsaye, who currently serves as Director of the Parliament of the African Union Simulation Agenda 2063 in Addis Ababa, Ethiopia, and came to the palace with some European investors, has been using his position to promote peace, unity, and investment opportunities across African states.

The symbolic key, steeped in centuries of Awka tradition, represents trust, partnership, and the authority to open new doors of opportunity for the kingdom and its people.

During the ceremony, the Obi of Awka, His Imperial Majesty Dr Austin Chukwuezugo Ndigwe, described Ambassador Omatsaye as ‘a son of the soil whose commitment to unity, youth empowerment, and cultural reawakening reflects the true spirit of the Awka nation on the continental stage.’

‘In Awka tradition, the Key to Open Door is not just a symbol, it is a call to service,’ the monarch said. ‘We have found in Ambassador Young Piero Omatsaye a worthy friend of the palace and the people, one who will continue to attract goodwill and progress to our land.’

The ceremony, conducted under strict cultural protocol, began with royal blessings and prayers led by the Palace Prime Minister, followed by the formal presentation of the symbolic key by the Obi himself.

In his response, Ambassador Omatsaye expressed profound gratitude to the royal father and the people of Awka for the recognition, pledging to continue supporting initiatives that promote peace, youth empowerment, and socio-economic growth in the kingdom.

‘This key is a sacred trust,’ Omatsaye said. ‘It reminds me that leadership is about opening doors for young people, for communities, and for a better Nigeria and Africa.

I dedicate this honour to the resilient people of Awka and to all Africans working for progress under the leadership of the Chairperson of the African Union, H.E. Mahmoud Ali Youssouf.’

The event was graced by traditional chiefs, youth leaders, business executives, and international investors from Bulgaria, Turkey, and Rwanda.

Many commended the Obi for honouring a young African who continues to distinguish himself in leadership and service beyond Nigeria’s borders.

The ceremony concluded with group photographs, cultural displays, and a royal tour of the palace, where guests were introduced to two historic living tortoises said to have resided in the palace for over 150 years-a living testament to the heritage and continuity of the Awka Kingdom.

Nigeria and Austria have committed to strengthening their bilateral economic relations.

This follows high-level meetings between a delegation led by Minister of Budget and Economic Planning, Senator Abubakar Bagudu, and senior Austrian government officials.

‘President Bola Tinubu’s bold reforms opening up the Nigerian economy for foreign and domestic investments, we are committed to long-term, strategic partnerships that create jobs, generate income, and promote prosperity,’ Bagudu told Austria’s Vice Minister of Finance, Mag. Andreas Reichhardt, during one of the meetings in Vienna, Austria.

The delegation engaged with senior Austrian officials, including the Federal Minister for Agriculture, Forestry, Regions and Water Management of the Republic of Austria, Mag. Norbert Totschnig; the State Secretary for the Federal Ministry of Economy, Energy and Tourism, Ms Elisabeth Zehetner; and the Federal Minister for Innovation, Mobility and Infrastructure, Mr Peter Hanke.

Others were Director-General of the International Centre for Migration Policy Development, Dr Michael Spindelegger, who was formerly minister for Foreign Affairs and Finance as well as Vice-Chancellor, and the CEO of the Vienna Stock Exchange, Mr Christoph Boschan.

The engagements with Austrian officials and business leaders in Vienna on Friday, as stated by the ministry’s Director of Information and Public Relations, Mrs Julie Okogie-Jacobs, on Wednesday, centred on establishing new partnerships in capital market development, investment, innovation and mobility, migration governance, agriculture and water management, and economic reform support.

She stated that some Austrian companies delivered presentations, proposing a technology transfer and local manufacturing partnership that would enable Nigeria to produce water filtration materials domestically, as well as expand the textile industry value chain to create skilled jobs, and improve water and food security through local capacity-building and training.

Along with signing a Memorandum of Understanding (MoU) that will act as a strategic framework for their cooperation in Agriculture, Water Management, Rural Development, and Climate Resilience, the statement said both sides also agreed to accelerate negotiations on another MoU to strengthen their bilateral economic relations and formalise cooperation in trade, investment, energy, and tourism.

The memorandum on Agriculture, signed on Friday by Bagudu and Austria’s Federal Minister for Agriculture, Forestry, Regions and Water Management, Mag. Norbert Totschnig, is anticipated to support Nigeria’s efforts in enhancing food security, promoting climate-smart agriculture, and strengthening rural livelihoods.

‘This MoU is a significant milestone in Nigeria’s partnership with Austria that will promote sustainable agriculture, improve food security, and strengthen rural resilience against climate change,’ Bagudu said during the signing ceremony, which was attended by former Vice-Chancellor and Minister of Finance, and former Vice-President of EIB Mr Wilhelm Molterer, who reaffirmed Austria’s commitment to supporting sustainable agricultural development in Nigeria.

Totschnig described the MoU as ‘a promising start to a long-term collaboration that can serve as a model for Africa-Europe agricultural partnerships.’

The MoU aims to enhance bilateral cooperation, promote sustainable food systems, improve water resource management, and increase resilience to climate change effects, in accordance with Nigeria’s National Development Plan (2021-2025) and the Renewed Hope Agenda.

It also aims to utilise Austrian expertise, technologies, and private capital to support Nigeria’s priorities in sustainable agriculture, irrigation, environmental protection, and rural infrastructure.

Areas of cooperation include promoting agro-processing and value chain development, supporting soil and watershed management, developing efficient irrigation systems, enhancing rural economies, and expanding forestry and afforestation initiatives.

It also facilitates capacity building, research collaboration, and technical knowledge transfer between both parties to strengthen institutional and human resource capabilities.

The implementation of the MoU will build on existing Austria-supported initiatives in Nigeria, such as the European Business Park (EBP) and the Centre of Practical Skills (COPS) in Enugu, which provide platforms for rural innovation and skills development.

To ensure transparency and effective management of investment projects, a Special Purpose Vehicle (SPV) – ESME Nigeria Limited, under MOFI, will coordinate and safeguard investments arising from this partnership.

During a meeting with the State Secretary of the Federal Ministry for Economy, Energy and Tourism, Ms Elisabeth Zehetner, both countries also agreed to expedite another MoU to strengthen existing economic cooperation and explore new areas of partnership.

Zehetner stated, ‘Nigeria remains one of our most important trading partners in Sub-Saharan Africa, and we are keen to explore new dimensions of cooperation – especially in green technology, renewable energy, circular economy, and vocational training.’

Bagudu highlighted that Nigeria’s reform agenda is opening up new opportunities in infrastructure, renewable energy, manufacturing, and tourism, and that Austria’s strong interest in collaborating with Nigeria through technology transfer, skills development, and sustainable investment is welcomed.

‘Our focus is to create mutually beneficial partnerships that translate into real value – for Austrian investors and for the Nigerian people,’ he said.

The delegation also met with the Director General of the International Centre for Migration Policy Development (ICMPD), Dr Michael Spindelegger, emphasising the importance of strengthening cooperation between Nigeria and ICMPD in migration governance, skills development, and legal pathways for labour mobility, building on the organisation’s longstanding engagement in Nigeria.

‘We see migration not as a challenge but as an opportunity-one that can be harnessed for shared growth,’ the Minister said, explaining that President Bola Tinubu had emphasised the need for strategic partnerships that link migration to skills, innovation, and investment.

Expressing Nigeria’s eagerness to collaborate with ICMPD on developing a model that links training, certification, and employment within a legal migration framework, the minister acknowledged ICMPD’s consistent support and reaffirmed Nigeria’s dedication to establishing safe, legal, and productive migration systems that benefit both sending and receiving countries.

Responding, Spindelegger noted that ICMPD’s partnership with Nigeria has developed from technical cooperation to strategic collaboration, with active projects in border management, anti-trafficking, and labour migration.

‘We are proud of Nigeria’s progress. The Enugu Centre of Practical Skills and our collaborations with national institutions demonstrate the importance of long-term cooperation. We are now ready to develop this into a structured migration partnership that promotes skills development, legal migration pathways, and economic opportunities for youth,’ he said.

Dr. Spindelegger mentioned that a workshop with the City of Vienna is already scheduled to develop a broader concept that will enable Nigerians to receive vocational training in Nigeria and subsequently work in Austria.

The minister called for strengthening fiscal cooperation and encouraging innovative investment partnerships between the two countries during the delegation’s meeting with Austria’s Vice Minister of Finance, Mag. Andreas Reichhardt.

‘We are committed to long-term, strategic partnerships that create jobs, generate income, and promote prosperity. The ideas and technologies shared today align seamlessly with Nigeria’s development priorities outlined in the National Development Plan (2021-2025) and the Renewed Hope Agenda,’ Bagudu told Reichhardt.

He explained that the Tinubu administration had implemented bold fiscal and monetary reforms to unify exchange rates, rationalise subsidies, and rebuild investor confidence, noting that the economy had been opened up to private investment because government alone could not fund the nation’s development.

Reichhardt expressed delight at hosting the Nigerian delegation, reaffirming Austria’s commitment to establishing a strong partnership with Nigeria.

According to him, ‘We believe there is great potential for cooperation between our countries – in finance, technology, agriculture, and industrial development.

‘Austria is eager to exchange expertise, develop joint strategies, and support innovation-driven projects that promote sustainable growth in Nigeria.’

Bagudu, who returned to Nigeria over the weekend, also visited the Vienna Stock Exchange, where the Chief Executive Officer, Dr Christoph Boschan, welcomed him.

He highlighted the importance of strong governance and transparency in maintaining economic growth.

‘A modern financial system depends on the right balance between state interests and private sector transparency,’ he said, adding, ‘When the state plays a role in large-scale infrastructure or strategic industries, it must be matched with clear accountability and public governance. That is what ensures investor confidence and long-term value creation.’

Responding, Bagudu stated, ‘We are impressed by Austria’s financial market model-its stability, governance standards, and efficiency.

‘Nigeria is eager to learn from these experiences as we design frameworks that link public assets, infrastructure projects, and sustainable financing to the capital market.

‘Our goal is to create a transparent ecosystem that allows both state-owned entities and private firms to access financing while ensuring full public accountability.

‘Partnerships with institutions such as the Vienna Stock Exchange can help us attain this balance between growth, governance, and inclusivity.’

During the meeting with Federal Minister Hanke, who heads one of Austria’s largest ministries – responsible for Infrastructure, Mobility and Innovation – both sides agreed to strengthen cooperation between Austria and Nigeria in the fields of transport infrastructure, mobility, and technological innovation.

The discussion focused on the transfer of Austrian expertise and best practices, particularly in railway and road infrastructure (ÖBB – Austrian Federal Railways, and ASFINAG – the state-owned motorway and expressway company), as well as in innovative mobility solutions.

A visit by Minister Hanke to Nigeria was agreed in principle to further advance these initiatives and explore concrete cooperation opportunities on the ground.

The minister finished his visit with a Business Reception hosted by Prosper Africa, attended by more than 130 high-ranking Austrian government officials, diplomats, and business leaders.

During the evening event, Minister Bagudu also met with Mr Bernhard Sagmeister, Director General of Austria Wirtschaftsservice (AWS), Austria’s state-owned development bank. AWS issues more than EUR 1 billion in guarantees each year to Austrian companies, including for investments abroad, and serves as a partner of the Austrian European Business Park (EBP) in Enugu. The discussion centred on deepening and expanding the cooperation.

In his keynote remarks, Bagudu reaffirmed Nigeria’s willingness to attract investment and collaborate.

‘Nigeria is open for business. Under President Tinubu’s leadership, we are implementing bold reforms to stabilise the economy, restore investor confidence, and ensure private capital drives national development,’ he stated, concluding, ‘Our engagements in Vienna reaffirm that development is best achieved through collaboration.

‘By working with partners like Austria, we can unlock innovation, attract sustainable investment, and deliver inclusive growth in line with our National Development Plan and the Renewed Hope Agenda.’

As part of effort to strengthen its industrial base, the Ogun State Government has signed an agreement with two leading renewable energy service companies (RESCOs) to generate about 1,100 MW of solar power in the state.

The companies are: Tranos Contracting Limited, which is to establish a 600MW solar panel manufacturing plant and battery pack in the state, and Vision Gas and Power Limited, which is also to establish a 500MW solar panel manufacturing plant with potential expansion to 1GW.

The partnership was sealed at the instance of the Vice-President of Nigeria, Senator Kashim Shettima, on behalf of President Bola Tinubu in Abuja, during the Nigeria Renewable Energy Innovation Forum(NREIF) 2025, held in Abuja.

A statement by the Special Adviser to the Ogun State Governor on Media and Strategy, Kayode Akinmade, stated that the forum was convened under the Federal Ministry of Power and co-organised with the United Nations Development Programme(UNDP), the National Agency for Science and Engineering Infrastructure (NASENI), and the Alliance for Rural Electrification (ARE) with Vice-President Kashim Shettima as Chairman for the year 2025.

With the theme: ‘Implementing the Nigeria first policy: Facilitating Local Content Development and Manufacturing in the Renewable Energy Ecosystem NREIF2025’, the forum, according to the statement, is Nigeria’s premier platform to shape the future of renewable energy manufacturing in Nigeria by bringing together global leaders, investors, and policy mas, among others.

‘These partnerships will ultimately spotlight Ogun state as a leader in innovation, industrial readiness, and inclusive growth, while affirming our state’s commitment to economic diversification and environmental sustainability.

‘This is in tandem with our vision to attract investments that drive a robust economic base, create jobs, and ensure that our State remains a model of innovation and sustainability.

‘By expanding local capacity for clean energy production, we are reducing dependence on imports and laying a foundation for inclusive industrial growth,’ the statement read.

The House of Representatives on Thursday unveiled plans to investigate the rationale behind the abandonment of $35 million Modular Refinery project in Brass, Bayelsa State, four years after payment of requisite financial commitment.

The resolution was passed sequel to the adoption of a motion on urgent public importance sponsored by Hon. Billy Osawaru.

In his lead debate, Osawaru underscored the importance of increased revenue base for the nation with a view to reduce the ‘pressure on the foreign exchange regime and even lowers debt burden, especially as it relates to budget financing.

‘The House also notes that it was in the light of the above that the immediate past regime graciously embarked on the need to encourage the funding of modular refineries in the Niger Delta region.

‘The House is aware that under president Bola Tinubu’s Renewed Hope Agenda, indigenous refining had been identified as a key driver of energy independence, job creation, and industrial revitalisation.

‘The House is also aware that the key objective of the present administration is to ensure energy security through improved oil production output in order to increase the Nation’s revenue base and that every available opportunity has been geared towards this objective.

‘The House is further aware that sometime in 2020 the Nigerian Content Development and Monitoring Board (NCDMB) invested the sum of $35 million in Atlantic International Refinery and Petrochemical Limited – a modular refinery to be located in Brass, Bayelsa State.

‘But concerned that despite this huge investment of $35 million which is more than N50 billion and enough to fund fundamental components of the national budget, the proposed modular refinery that was to be known as Atlantic International Refinery and Petrochemical Limited was never setup. Nothing is on ground to show that huge financial commitments had been made.

‘The House is concerned also that this Honorable House had initiated a patriotic love to unravel the mystery behind this wastage by mandating the relevant committee to investigate this monumental economic sabotage; and that despite this, nothing has been heard in respect of the subject matter.

‘The House appreciates that in May 2024, a stakeholder submitted a petition to the Economic and Financial Crimes Commission (EFCC) urging the anti-graft organization to probe the multi-million dollar investments made by the Nigerian Content Development and Monitoring Board (NCDMB) among which was the Atlantic Refinery project; and that despite this noble move by the said stakeholder, nothing has been heard about this profound national waste almost a year ago.

‘The House is worried that the continued inactivity of this Brass modular refinery project raises significant questions about the management of public funds and the effectiveness of oversight mechanisms in Nigeria.’

To this end, the House mandated the joint Committees on Petroleum Upstream, Downstream and Legislative Compliance to investigate the circumstances surrounding this huge financial commitments to the tune of $35 million with nothing on ground to suggest such huge investment and report back to the House within four weeks.