Tony Elumelu, chairman of the United Bank for Africa (UBA) Plc, says Africa needs the kind of support to move from aid-seeking to self-reliance, self-independent and sustainable progress. Elumelu said this at the United States -Africa leaders summit recently held in Washington DC. The summit themed ‘the innovators gathering: investing in U.S.-Africa cultural and economic ties’, was hosted by the US secretary of state, department of state’s office of global partnerships, the Prosper Africa Initiative, and the Tony Elumelu Foundation. Attendees include Anthony Blinken, Idris Elba, Yvonne Orji, Eric Adams, New York City mayor, Muriel Bowser, Washington D.C. Mayor, among others. While former President Barack Obama attended virtually. Speaking at the event, Tony Elumelu said through his foundation, many youths have been supported, who have in turn contributed to transforming the economy. He further called for more partnerships to accelerate entrepreneurship growth across Africa, adding that Africa needs the kind of support that will enable it to be self-reliant. “I am an entrepreneur and I know the transformative power of entrepreneurship. In 2010, we started the Tony Elumelu Foundation- a platform that identifies, supports, and trains young, brilliant entrepreneurs. To date, we have disbursed over $85 million to more than 18,000 young female and male entrepreneurs living across the 54 African countries, each with a non-refundable seed capital of $5,000,” he said. “Additionally, we have trained over 1.5 million African entrepreneurs, giving them world-class mentorship and business training. We have delivered effective programs to female entrepreneurs in fragile states and are now working on our intervention in the green economy. “We know we can do much more with partnerships. This is why we have convened this summit in collaboration with the U.S. state department and other US government agencies, to drive a global coalition, an alliance to catalyse entrepreneurship across our continent. “In the 21st century, the kind of support that Africa needs is one that moves away from aid and prioritises self-reliance, self-independence, and sustainable progress.” Also speaking, Awele Elumelu, trustee, TEF, highlighted the importance of entrepreneurship in building sustainable economies, particularly in Africa’s response to climate change. “No one will develop our economies but us. I see entrepreneurs playing vital roles in transformative sectors including healthcare, technology and the green economy. We invest in and train entrepreneurs to build sustainability, climate-conscious initiatives into their business models,” she said. According to her, the gathering was an important opportunity for the Biden administration to demonstrate its support for Africa and to hear directly from African stakeholders on the development agenda needed on the continent – one that empowers, prioritises mutual benefit and delivers self-reliance. On his part, Obama commended the effort in putting together the kickoff event. He also encouraged young African entrepreneurs as well as investors to look towards Africa. “When you succeed, your country succeeds and that creates an opportunity for everyone,” Obama said.

  The Federal Government says construction work on the East-West road will gulp N200 billion, including N13 billion on the failed Eleme axis of the road. The Minister of Works and Housing, Babatunde Fashola said this on Wednesday during a visit to Rivers State to assess the state of work on the 38km Bodo-Bonny link road under construction by Julius Berger. Fashola expressed satisfaction at the speed and quality of work going on. He explained that funding for the N200 billion project was under of a tax credit scheme arrangement between the Federal Government and Nigerian Liquefied Natural Gas NLNG, though it was a full government project. “We are trying to connect two communities of Rivers, Bodo on the mainland and Bonny on the island. And it’s instructive to point out because I hear some comments that the Federal Government is not doing anything in Rivers. “Bodo and Bonny are parts of Rivers. This is an investment of N200 billion in one state. But the money is not as important as its long-term significance. So, when you talk about poverty and you see a report about 133 million people in poverty, yes, those are the problems, but what are the solutions? This is one of the solutions. “The project will be finished next year, and for clarity, it is funded by a policy of this government – the tax credit scheme initiated by President Buhari in 2019. So, NLNG is investing in it and the Federal Government is paying them back by giving them tax waivers over time,” he said. The Project Manager, Julius Berger, Thomas Haug explained the level of work done to the minister even as the Traditional Ruler, Osogbonye Long-John commended the Federal Government for the project. The Federal Works Controller, Olufemi Adetunji told journalists that there are four major and 11 minor bridges on the road even, pointing out that the work was being carried out simultaneously on different stretches. In constructing the Bodo-Bonny link road, the Prefabricated Vertical Drainage technology would be deployed to deal with the swampy nature of the terrain. This is the same technology being used to construct the second Niger bridge. On completion, the road will connect Bonny Island to the mainland by road. It is expected to be completed in December 2023.

  The Federal Government has ordered the opening of the Second Niger Bridge for use starting from midnight on Thursday. The Minister of Works, Mr Babatunde Fashola, SAN, stated this on Wednesday, while inaugurating the bridge for use for one month during the Yuletide. Fashola, who took a walk round the bridge during the inspection, counselled road users plying the bridge to drive safely and responsibly in order not to defeat the purpose of constructing the project. The minister pointed out that the President, Major General Muhammadu Buhari (retd.)’s purpose of completing the bridge was to save lives and alleviate poverty occasioned by waste of many hours resulting from gridlock on the old First Niger Bridge. He noted that the opening of the Second Niger Bridge would alleviate the sufferings of the motoring public who always experienced gridlock during the Yuletide. He said it would be counterproductive if users of the bridge would become reckless and attract unnecessary mishaps upon themselves. Fashola added that the bridge would be officially opened by 12:01am on Thursday, December 15, 2022 to January 15, 2023. He explained that part of the money used in constructing the bridge was looted funds recovered mostly from the United States of America. He said, “A lot of people have talked about a solution but the President Muhammadu Buhari-led administration decided to build the bridge whatever it took. So, wherever the funds came from, investment income, from our oil assets, repatriation of some funds that were stolen out of Nigeria came in from the US. “The result is now what we see. When people are talking about poverty, the biggest part of it is not the monetary poverty, is the multidimensional poverty. “When you spend two to three days trying to cross a bridge, that’s poverty, because it should take just a few minutes so that you can go and do more productive things. “The President approved that since the bridge is finished that we should create an access road so that during Christmas you can begin to experience what it would feel like plying the bridge. “The maximum speed limit on Nigerian roads is 100km per hour. Don’t drive 101km per hour. The President will be happy to see users drive safely and responsibly while using this road especially during this Christmas and New Year seasons. The President wishes you a merry Christmas and Happy New Year. “It would be open for traffic going from the west to the east from the 15th Dec, 2022- 15th January 2023. “Let me be clear again; we haven’t finished construction work on the bridge but we would open it for people to use to relive the pressure from the one bridge. On the January 15, 2023, we would reverse that movement for those coming from the east to the west.”

  THE Minister of Works and Housing, Mr. Babatunde Fashola, Wednesday said that the 2nd Niger Bridge which has been temporarily opened to traffic today (15/12/2023) was constructed with recovered looted funds and investment income from the country’s oil assets. The Minister, who spoke after inspecting the bridge at both the Anambra and Delta sides, said President Muhammadu Buhari administration was committed to completing the bridge no matter what it would cost, adding that the result is what the whole world is seeing. According to the Minister, the bridge would be open from 12 midnight today to January 15, 2023. Information released by the construction company, Julius Berger, showed that the bridge is not yet suitable for heavy duty vehicles due to small turning radius at the Obosi end. There is also heavy duty restriction banners on the bridge to ensure that only light vehicles use it, just as there would be crash barriers on the Asaba- Onitsha expressway to avoid traffic u- turn that could cause congestion. Fashola, who described the bridge as one major poverty reduction index achieved by the Buhari administration, observed that it would reduce the long time spent on the old bridge. “With this bridge, it takes just few minutes to cross from Asaba to Onitsja so that people can go and do more productive things”, he said. The Minister, however, said there are still a few things to be done at the Obosi interchange and at the Asaba end, stating that “our decision is, it is motorable, let us open it to reduce people’s suffering this period”. He observed that the construction of the bridge had helped to boost people’s income in the area, noting that the value of property on both sides had suddenly increased by over 40 percent. He reminded road users that it would be counterproductive if they become reckless and attract unnecessary mishaps upon themselves and others. He said,” The maximum speed limit on Nigerian roads is 100km per hour. Don’t drive 101km per hour. The president will be happy to see users drive safely and responsibly while using this bridge, especially during this Christmas and new year seasons”.

  Many were shot and wounded Wednesday morning, when unknown gunmen suspected to be enforcers of the five-day sit-at-home declared by Simon Ekpa, stormed Nwakpu market in Ikwo Local Government Area of Ebonyi State. The rampaging hoodlums also set ablaze vehicles and motorcycles of people at the market for allegedly defying the purported sit-at-home order. According to eye witness, the assailants were shooting indiscriminately at people as everybody ran at different directions in the ensuing pandemonium. One of the victims simply identified as Henry, said his vehicle was among the ones burnt by the unknown gunmen. He said that he was also shot in the leg and cut on the head with an axe by the assailants who left him in the pool of his blood. Confirming the incident, the Sector Crime Officer in charge of the area, Kingsley Okorie told our Correspondent that when police got information about the attack at the market, they stormed the market, and on sighting the security agencies, the hoodlums fled. “We gave them a hot pursuit but they escaped on motorcycle through narrow paths to the bush”, police said. The officer said that one of the victims, Henry had been taken to the hospital where efforts were on to extract the bullets lodged in his thigh. Both IPOB and its Leader, Mazi Nnamdi Kanu have since disowned Ekpa over the five-day sit-at-home order, saying it’s inflicting hardship on the people. The pro-Biafra movement had vowed to confront enforcers of the purported order. There have also been outrage from across the South East against the sit-at-home order which has been generally ignored by the people.

  The Nigeria Extractive Industries Transparency Initiative, NEITI, yesterday backed the decision of the Federal Government to set up Special Investigative Panel on Oil Theft and Losses, claiming that the country has lost 619.7 million barrels of crude oil valued at $46.16 billion or N16.25 trillion in twelve years from (2009 to 2020). NEITI in a statement by the Head, Communications and Advocacy, Obiageli Onuorah in Abuja explained that the losses were from theft and sabotage based on information and data provided by an average of eight companies covered by NEITI process over the years. A breakdown of the losses shows that in 2009 when NEITI commenced reporting of crude oil theft, Nigeria lost 69.49 million barrels valued at $4.31 billion. The figures for 2010, 2011 and 2012 revealed that 28.31million, 38.61million and 51.58 million barrels which were valued at $2.29billion, $4.39 billion and $5.82 billion were lost respectively. NEITI stated that its oil and gas industry reports for 2013 to 2020 also showed that the losses to crude oil theft did not abate as 78.30million barrels valued at $8.55 billion was lost in 2013 alone. It added that 2014 and 2015 witnessed combined losses of 67.29 million barrels valued at $5.57 billion. 2016 recorded the highest losses of 101.05 million barrels that was valued at $4.42 billion. Between 2017 & 2020, the NEITI reports indicated losses of 36.46 million barrel ($1.99 billion) in 2017, 53.281 ($3.837 billion) in 2018, 42.248 million barrels ($2.772 billion) in 2019 and 53.056million barrels ($2.21billion) in 2020. “The combined value of these losses is 619.7 million barrels amounting to $46.16 billion over a twelve year period”, NEITI added. NEITI lamented that “it was regrettable that at a time Nigeria’s economy is largely dependent on oil revenues, some Nigerians would choose to collude with foreign nationals to steal and sabotage the main sources of revenue for the federation”. The Agency expressed “delight over the new collaboration between Offices of the Secretary to the Government of the Federation and that of the National Security Adviser in coordinating the investigations and its wisdom to appoint NEITI in this Special Panel. This is in view of the Agency’s strategic relevance to guide the Panel with reliable information and data”.