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AfDB Illustrates How Nigeria Can Boost Weakening FDIs

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prepared to welcome investments

By Adedapo Adesanya

Nigeria could benefit from the experience of countries that have been successful in attracting foreign direct investments (FDIs) into their manufacturing sectors as long as it follows some tested and proven strategies, says the African Development Bank (AfDB).

This is cogent as Nigeria witnessed Foreign Direct Investments (FDIs) into the country turned negative by $187 million, according to the United Nations. The first time in 33 years.

According to the National Bureau of Statistics, in the first three months of this year, FDIs contributed just $47.60 million or 4.2 per cent of the capital inflows into the country, from $81.72 million in the last quarter of 2022.

However, speaking at a recent event, the bank’s president, Mr Akinwumi Adesina, said Nigeria could become a manufacturing hub in Africa if the federal government implements a bold strategy to take advantage of investment and market access opportunities.

“Rising labour costs and technological upgrading in countries such as China, India, and Brazil offer an excellent opportunity to developing economies, including Nigeria, to attract FDI and diversify their exports.

“Promoting trade and regional integration trade offers a great opportunity to further diversify the Nigerian economy.

“With the coming into force of the African Continental Free Trade Area, Africa is becoming more integrated, with a larger market for exports from Nigeria”, he said.

Mr Adesina said Nigeria faced major infrastructure deficits that inhibit its ability to diversify production in the non-oil sectors.

Citing the World Bank’s 2022 Public Expenditure Review report, Mr Adesina, who once served as a minister of agriculture in Nigeria, said that meeting the country’s huge infrastructure needs required $3 trillion by 2050.

He said at the current rate, it would take Nigeria 300 years to provide a minimum level of infrastructure needed for development.

Mr Adesina, however, said to change this narrative, Nigeria should mobilise the private sector for infrastructure development and service delivery.

He said this would also reduce the fiscal burden on the federal and state governments.

According to the AfDB president, energy sector investments remain one of the most critical and urgent needs in Nigeria. He said providing reliable and affordable energy services would make Nigeria’s industries more competitive and accelerate the country’s integration into regional and global supply chains.

“To remove the barriers to non-oil trade and exports, Nigeria must decisively fix its power sector, once and for all.

“While tapping its abundant gas resources as a transition fuel, Nigeria should invest massively in renewable energy generation, especially solar.

“Nigeria should start leveraging the platform of the $25 billion Desert-to-Power initiative aimed at providing electricity for 250 million people across the Sahel, including the northern parts of Nigeria.”

The AfDB boss said developing regional infrastructure and putting in place the requisite trade policies were necessary conditions for tapping into opportunities in regional and international markets.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Afreximbank to Hold 33rd Annual Meetings in Egypt June 21-24

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By Adedapo Adesanya

The African Export-Import Bank (Afreximbank) has announced that its 33rd Annual Meetings will take place at El Alamein in Egypt, from June 21-24, 2026.

Against the backdrop of deepening geopolitical realignment and conflicts, Afreximbank will hold its 33rd Annual Meetings under the theme Intra-African Trade and Industrialisation: Pathway to Economic Sovereignty, underscoring the growing imperative for African countries to harness internal capacities, strengthen regional value chains, and accelerate industrial transformation as a foundation for sustainable and resilient growth.

The meetings will bring together Heads of State, government officials, policymakers, private sector leaders, financial institutions, academia and international partners from across Africa and beyond.

Through a series of strategic dialogues and engagements, Afreximbank aims to identify priority projects and actionable programmes that will advance the transformation of Africa’s trade structure, particularly in an era shaped by protectionism, shifting alliances, and economic self-interest.

The Cairo-based lender, in a statement, said the 2026 meetings would provide a unique platform for delegates to engage with high-level decision-makers, connect with partners across the value chain, gain insights into trade finance and logistics, and access capital and close investment deals. The meetings will also serve as a platform to structure partnerships and advance bankable projects across the continent.

According to Mr George Elombi, President and Chairman of the Board of Directors at Afreximbank, the meeting is coming at a time when disruptions are occurring, particularly in the Middle East, setting the need for African institutions to look at solutions that help them.

“With the current global turmoil, marked by policy uncertainty and intensifying geopolitical tensions, Africans must look inwards for solutions relevant to their challenges. We must wean ourselves off trade in commodities, expand investment in processing, build regional value chains, and consume our products to realise the growth and shared prosperity we want,” he said.

Adding his input, Mr Hassan Abdalla, Governor of the Central Bank of Egypt (CBE), affirmed: “As the host country of Afreximbank, Egypt is honoured to welcome distinguished delegates to attend the Bank’s 33rd Annual Meetings. At a time of increasing global uncertainty and shifting economic dynamics, Egypt’s strategic location and economic scale position it as a key driver of regional integration and advancing continental priorities.

“Hosting the AAM2026 in El Alamein reflects Egypt’s continued commitment to supporting African institutions, strengthening intra-African trade, and advancing the continent’s industrialisation and long-term economic transformation.”

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A Culinary Journey Through Korean Comfort Food: Tradition, Flavor, and the Art of Shared Dining

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Korean Comfort Food

Korean cuisine has become one of the most celebrated and influential food cultures worldwide, admired for its vibrant flavors, comforting dishes, and deep cultural roots. Whether enjoyed in a bustling restaurant, a cozy home kitchen, or through a convenient online order, Korean food continues to captivate diners with its harmonious blend of taste, texture, and tradition. As global interest grows—boosted by entertainment, social media, and the rise of Korean restaurants—more people are discovering just how rich and rewarding this cuisine truly is.

The Heart of Korean Food: Flavor, Fermentation, and Freshness

What sets Korean cuisine apart is its remarkable diversity and complexity. Central to many dishes are fermented ingredients such as kimchi, gochujang (Korean chili paste), and doenjang (fermented soybean paste). These ingredients add layers of savory, spicy, and tangy flavors that cannot be replicated by other culinary traditions.

Fermentation also plays an important role in Korean health culture. Foods like kimchi and fermented soybean paste contain natural probiotics that support digestion and immune health. This makes Korean food not just delicious but also incredibly nourishing.

A traditional Korean meal features banchan—small side dishes that include pickled vegetables, sautéed greens, seasoned tofu, and more. These side dishes provide balance and variety, making each meal feel abundant and thoughtfully prepared.

The Magic of Korean Barbecue and Communal Dining

One of the most iconic dining experiences is Korean barbecue, where guests grill their own marinated meats at the table. This interactive style of dining creates an atmosphere filled with sizzling sounds, savory aromas, and joyful conversation.

But Korean barbecue is only one part of the broader culture of shared eating. Korean meals are meant to be communal, bringing people together to enjoy a wide range of dishes simultaneously. Instead of ordering individual plates, tables are filled with shared items that everyone can taste.

This sense of togetherness reflects centuries of cultural tradition and is a major reason Korean restaurants are beloved worldwide. Whether you’re enjoying spicy kimchi stew, warm rice dishes, or flavorful grilled meats, the experience is designed to be enjoyed with others.

A New Era of Convenience: Enjoying Korean Cuisine From Home

While Korean food has deep cultural roots, modern dining trends have made it more accessible than ever. As online ordering becomes an essential part of everyday life, Korean restaurants have embraced technology to bring authentic flavors directly to customers’ homes.

With easy-to-use online platforms, diners can explore full menus, make custom requests, and enjoy fast delivery of freshly prepared dishes. This convenience has allowed Korean cuisine to reach even wider audiences, including those who may not have access to a dine-in location nearby.

Whether you’re craving a spicy noodle bowl, a warm stew, or a set of delicious banchan, Korean food is now only a click away. If you’d like to order authentic Korean dishes online, you can explore this convenient option:
👉 poker

Popular Korean Dishes That Capture the World’s Attention

  1. Bibimbap
    A colorful rice dish filled with sautéed vegetables, marinated meat, fried egg, and spicy gochujang, bibimbap is one of Korea’s most balanced and visually appealing meals.
  2. Bulgogi
    Thin slices of marinated beef grilled to perfection, bulgogi is tender, sweet, savory, and universally loved.
  3. Kimchi Jjigae
    This hearty stew made with kimchi, tofu, pork, and vegetables is a comfort food staple, especially during the colder months.
  4. Tteokbokki
    Spicy, chewy rice cakes simmered in a chili sauce. This street-food favorite is a hit among people of all ages.
  5. Korean Fried Chicken
    Crispy, crunchy, and glazed with sweet or spicy sauces, Korean fried chicken has gained international fame for its unforgettable flavor.

Each dish tells a story, representing generations of knowledge and culinary tradition passed down through families and communities.

Why Korean Food Is Loved Globally

Korean cuisine’s worldwide rise can be attributed to several factors:

  • Cultural influence: K-dramas, K-pop, and social media have highlighted Korean food in exciting and relatable ways.
  • Healthy eating trends: The emphasis on vegetables, fermented ingredients, and balanced meals appeals to wellness-focused diners.
  • Shareable dining experiences: The communal style of eating resonates with people seeking connection and memorable meals.
  • Flavor variety: Korean food offers something for everyone—spicy, sweet, savory, mild, crunchy, warm, and refreshing.

As more people fall in love with these flavors, Korean cuisine continues to expand into new cities, communities, and households.

Final Thoughts

Korean cuisine is more than just a collection of dishes—it is a cultural experience shaped by history, community, and a commitment to harmony in flavor. Whether enjoying a traditional meal in a restaurant, grilling barbecue with friends, or ordering Korean comfort food online, the experience is always warm, flavorful, and deeply satisfying.

With its perfect blend of nourishment, taste, and shared enjoyment, Korean cuisine will continue to inspire diners around the world for generations to come.

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Tinubu Establishes Dedicated Support Fund for Troops

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Tinubu's Portrait

By Dipo Olowookere

The Accountant-General of the Federation has been directed by President Bola Tinubu to create a special account for a support fund dedicated to members of Nigeria’s Armed Forces.

A statement on Sunday night by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, disclosed that funds from the account would be used to support those wounded in the line of duty, and the families of fallen heroes.

Already, as a personal commitment, Mr Tinubu has pledged to contribute all his salaries since assuming office as seed funding for the initiative, reinforcing his resolve to ensure that those who have borne the cost of Nigeria’s peace and security are not forgotten.

According to the statement last night, the establishment of this dedicated fund is to commemorate the 74th birthday of the President and to honour the courage, sacrifice, and service of the nation’s military personnel.

He urged state governors, members of the National Assembly, the private sector, his friends, and well-wishers to support the initiative, noting that details of the fund will be made available in due course.

President Tinubu noted that “supporting members of the Armed Forces and their families is not an act of charity, but a duty that all must fulfil.”

He stressed that the initiative was rooted in a solemn national obligation to care for those who stand in harm’s way and the families who carry the burden of their sacrifice, irrespective of insurance programmes available to members of the armed forces.

“The President reaffirmed his administration’s commitment to strengthening the welfare of military personnel and ensuring that their service to the nation is matched with dignity, care, and sustained support,” the statement concluded.

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