General
Shettima Promises Better Environment For Private Sector
By Adedapo Adesanya
The Vice President, Mr Kashim Shettima, has said the private sector forms an integral half of the crucial foundation that holds the Nigerian government, noting that President Bola Tinubu is committed to creating an environment that fosters entrepreneurship and innovation.
This, according to him, explains why the president’s vision for Nigeria is grounded in eight priority areas, including poverty eradication, economic growth, job creation, and equitable access to capital.
The Vice President spoke on Thursday while commissioning some projects, including the Ijele 93.1 FM Radio Station, Phase Two of the Sir Emeka Offor Foundation (SEOF) Touch-a-Life Housing Project, and the AEMSL Meter Factory, in Anambra State.
“This gathering is a reminder that the private sector forms the other half of the government’s crucial foundation. Whatever innovation we design, whatever ideas we explore, whatever interests we pursue, we cannot achieve our objectives if those for whom they are targeted are not carried along or in tune with our agenda,” he said in a statement.
“I am utterly proud to be here today, honoured and excited to witness the commissioning of these landmark projects. I am convinced that each of us understands the urgency of our collective actions”.
Mr Shettima commended Anambra State for its private sector-driven development, even as he pledged the federal government’s support in addressing the state’s ecological challenges.
Noting that Anambra State has emerged as a critical pillar in Nigeria’s economic future, VP Shettima also praised Governor Charles Soludo for his understanding of the importance of a thriving private sector.
He added that Mr Soludo has demonstrated a “vast understanding of our economic dynamics, not just refined in academic chambers but forged in the crucible of real-world challenges.”
Mr Shettima also commended the Chairman of Chrome Group and Founder of Sir Emeka Offor Foundation (SEOF), Dr Emeka Offor, for his contributions to the development of Anambra State.
Acknowledging his “innovation, determination, and audacious vision,” the VP said Dr Offor’s investments in Anambra State have helped to create jobs, improve infrastructure, and provide essential services to the people of the state.
“Dr Emeka Offor is a shining example of what can be achieved when the private sector and the government work together. He is a true patriot who is committed to making Nigeria a better place,” he noted.
Shedding more light on the crucial role the private sector plays in nation-building, the Vice President said the hope the Tinubu administration has promised to renew can only be realised in an environment that makes it easier to translate the ideas of pace-setting individuals like Dr. Emeka Offor into action.
Mr Shettima continued: “The profound partnership between the federal government and each state remains an indispensable cornerstone.
“I assure you that commitment knows no bounds when fostering an environment ripe for entrepreneurial growth and innovation. For it is in the nurturing embrace of this collaborative effort that the delicate balance between public and private sectors resonates, defining the trajectory of successful nations.”
The Vice President also had an aerial view of some gully erosion sites in the state and was briefed on the state government’s efforts to address the problem which has caused widespread damage to infrastructure and farmlands in Anambra State.
Mr Shettima pledged the federal government’s support to the state government’s efforts to address the problem of erosion. He said that the federal government will provide financial and technical assistance to the state to implement solutions to this problem.
The VP restated the federal government’s continued support for Anambra State’s economic development, saying the government will work with the state to address challenges such as gully erosion and improve road infrastructure.
“Anambra State is crucial to the economy of this country, and we are going to ensure interventions in this state, from economic support to infrastructure development, are geared towards sustaining its place as an industrial and economic powerhouse.
“We are aware of the daunting challenge of gully erosion with which the state grapples, a consequence of its loose ferallitic soil. We are aware of the communities that this menacing force has encroached upon. We are aware of the lives and livelihoods it has devastated and threatened.
“We are also going to make our interventions in boosting our road infrastructure projects stand as tangible testaments to our commitment to connect the South-East with other sub-regions of our beloved country.
“These initiatives aim not only to bridge geographical distances but also to knit together the diversity of our nation, fostering prosperity the people deserve.”
By Adedapo Adesanya
The South African Consulate General in Lagos, in partnership with Brand South Africa and the Development Bank of Southern Africa (DBSA), is hosting the 4th edition of the South Africa Focus Week in Lagos, Nigeria, from April 22 – 26, 2026.
The annual platform continues to grow as a strategic initiative aimed at fostering social cohesion between South Africans and Nigerians while positioning South Africa as a preferred destination for business, tourism, and education. Since its inception in 2023, South Africa Focus Week has attracted over 1,500 participants, bringing together stakeholders from across sectors, including trade and investment, arts and culture, tourism, aviation, and the culinary industry.
The 2026 edition holds particular significance as it coincides with the 30th anniversary of South Africa’s democratic Constitution, enacted in 1996, as well as 32 years of unbroken diplomatic relations between South Africa and Nigeria, established in February 1994. These milestones underscore the enduring partnership between the two nations, rooted in shared history and strengthened through formal agreements and ongoing collaboration.
The 2025 economic relationship between South Africa and Nigeria reflects a strategically significant, multi-dimensional partnership anchored in trade, energy security, investment flows, and strong institutional cooperation. While bilateral trade remains structurally imbalanced – with South Africa exporting US$468.48 million and importing $1.69 billion, resulting in a $1.22 billion deficit – this dynamic is largely driven by South Africa’s reliance on Nigerian crude oil, positioning the relationship as one of strategic interdependence rather than imbalance alone.
This partnership is further elevated by the relative economic weight of both countries. According to IMF projections, South Africa’s economy is valued at approximately $443.6 billion, while Nigeria’s stands at around $334.3 billion in nominal terms for 2026. As two of the largest economies on the continent, their bilateral engagement constitutes a central axis of African economic activity, with disproportionate influence on the success of continental integration efforts.
Beyond trade, the relationship is reinforced by deep two-way investment linkages. South African firms -including MTN Group, Shoprite, and Standard Bank – maintain a strong presence in Nigeria, while Nigerian companies such as Access Bank and Paystack have established a growing footprint in South Africa. Although investment flows are asymmetrical and some Nigerian firms have faced operational challenges, these exchanges reflect an emerging bi-directional economic corridor that extends beyond goods trade into services, finance, and digital innovation.
Aligned with Brand South Africa’s mandate to build the country’s global reputation and competitiveness, the week-long programme will convene leaders from government, business, civil society, academia, and the media. Discussions will focus on leveraging the African Continental Free Trade Area (AfCFTA) as a tool for market access and global positioning, with Nigeria serving as a key focal point.
The South Africa Focus Week has features a series of high-level engagements and cultural activities designed to deepen economic ties and promote collaboration: South Africa–Nigeria Infrastructure Investment Conference (April 22, 2026) which was held under the theme South Africa–Nigeria Partnership: Unlocking Infrastructure Opportunities,” the conference will bring together key stakeholders in infrastructure development to explore collaborative projects in road, rail, and transportation systems.
The forum also examined the role of Public–Private Partnerships (PPPs) and facilitated discussions on project financing and implementation with institutions such as the DBSA and Nigeria’s Infrastructure Concession Regulatory Commission (ICRC).
This was followed by the 2nd Economic Diplomacy Roundtable (Thursday, April 23, 2026), which was hosted in partnership with MTN Nigeria under the theme Role of Technology in Infrastructure Development, the roundtable will convene senior government officials, private sector leaders, and industry experts to identify investment opportunities and strengthen strategic partnerships.
Friday, April 24, was for Arts and Culture Experience, which is a dedicated cultural day will showcase Lagos’ creative spaces and features a panel discussion on South Africa’s arts, film, music, and culture. The programme includes a South African film screening, engagements with filmmakers, and a networking reception aimed at fostering collaboration between the creative industries of both countries.
The event continues on Thursday, April 25, with Freedom Day Celebration and Closing Ceremony. This commemorative event will celebrate 30 years of South Africa’s Constitution, 32 years of freedom and democracy, and the enduring diplomatic relations between South Africa and Nigeria. The ceremony will also provide an opportunity to reflect on outcomes from the week and outline future areas of cooperation.
The celebration forms part of Brand South Africa’s Global South Africans Programme, which recognises and connects South Africans in the diaspora as ambassadors of the nation’s values and identity.
The week climaxes with the 4th edition of the South Africa Golf Tournament at Ikoyi Golf Club on Saturday, April 26, 2026, which will be done in partnership with Crossflex International.
According to a statement, the event aims to strengthen people-to-people relations through sports diplomacy, bringing together South African and Nigerian golfers in a spirit of camaraderie and collaboration.
By Modupe Gbadeyanka
The former chairman of the defunct Skye Bank Plc, Mr Tunde Ayeni, has been apprehended by the Economic and Financial Crimes Commission (EFCC).
Spokesperson of the anti-money laundering agency, Mr Dele Oyewale, confirmed the arrest of the businessman on Friday but declined to provide further details, according to TheCable.
Mr Ayeni was accused of diverting the N36.5 billion and $30 million loans from Polaris Bank Limited to companies with which he has links.
He was alleged to have obtained the credit facilities for marine security, electricity distribution, and real estate projects, but moved them to telecom investments tied to NITEL/MTEL assets via a NATCOM account.
After the Central Bank of Nigeria (CBN) revoked the operating licence of Skye Bank in 2018, it nationalised it to Polaris Bank.
The EFCC has been looking into the alleged diversion of funds by Mr Ayeni, resulting in his arrest in Abuja on Thursday, April 23, 2026.
He is being grilled over the matter and would be arraigned in court once the investigation is concluded.
This is not the first time Mr Ayeni has been nabbed and probed by the EFCC, as this happened a few months after his bank lost its licence.
The then acting spokesman for the EFCC, Mr Tony Orilade, said Mr Ayeni was quizzed by detectives over issues related to fraud and embezzlement allegedly committed by him when he was Chairman of the bank a few years ago.
By Adedapo Adesanya
“We are fully committed to working with the new Commissioner of Police and giving all necessary support towards the successful discharge of his responsibilities.”
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