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Abia Runs to AfBD to Address Infrastructure Deficit, Others

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By Adedapo Adesanya

The Abia State Government is in talks with the African Development Bank (AfDB) over creation of its entrepreneurship and agricultural investment hub that will make the state a better player in the country’s economy.

This followed a meeting between the governor of the state, Mr Okezie Ikpeazu and the Bank’s president, Mr Akinwumi Adesina at the Bank’s headquarters in Abidjan, Cote d’Ivoire, where they discussed investments for the South-Eastern state that will see the creation of jobs and improve the standard of living.

With a population of over 2.8 million, Abia State is looking to the Bank to help make Enyimba Economic City (EEC), an ambitious economic hub, a reality.

The Governor said, “Our vision is to leverage the capacity of our people to become the SME capital of Nigeria. Our people are industrious and innovative.

“For instance, our people are known as top players in the leather industry. We have a new shoe factory that is producing over 50, 000 shoes.

“We particularly need the Bank’s help to address the State’s infrastructure deficit,” he said.

The state government’s project which was presented at the Bank’s 2019 Africa Investment Forum was also looking to transform the region into a manufacturing and and industrial hub that will lead to the creation of 700,000 jobs over a period of five years.

In addition, Mr Ikpeazu also requested the Bank’s support for the development of key agricultural value chains, including palm oil, rice, cocoa, cassava, maize and cashew, that would also create jobs for women and youth.

It was also revealed that there were other investments that the Abia State Government was looking to invest in, one of which include a waste-to-energy project. Others include to facilitate the Abia State Integrated Infrastructural Project which is designed to develop massive infrastructure in the state, especially in the commercial city of Aba and the capital of Umuahia.

According to the AfDB President, Mr Adesina, “Abia State has huge potential in agro-processing and human resources.

“The Bank’s role is to support governments like yours to transform their economies and create jobs.”

“Over the years, Aba has evolved as a centre of entrepreneurship and SMEs. The city has the potential to be a competitive industrial hub for Nigeria and for Africa. For this reason, the Bank will continue to support your vision,” Mr Adesina added.

After 48 years of its operations in Nigeria, it was disclosed that $74.5 million had been invested in Abia State with the power and energy sector with a combined 53 percent of the investment. Others include: education (25 percent); health (15 percent); and transportation (7 percent).

The Bank then assured that Abia State will continue to be a key beneficiary of the Bank’s support with the planned Abia State Integrated Infrastructure Development Project and the Enyimba Economic City.

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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Tinubu in UAE for 2025 Abu Dhabi Sustainability Week

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Bola Tinubu 2027 presidential election

By Modupe Gbadeyanka

President Bola Tinubu on Saturday, January 11, 2025, left the shores of Nigeria for the United Arab Emirates to take part in the 2025 Abu Dhabi Sustainability Week (ADSW 2025).

He was accompanied by the Minister of Foreign Affairs, Mr Yusuf Tuggar, and other senior government officials.

A statement issued by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, disclosed that Mr Tinubu was invited for the event by his UAE counterpart, Mr Mohamed bin Zayed Al Nahyan.

He will attend the programme starting from today, Sunday, January 12 to Saturday, January 18, 2025.

However, President Tinubu is expected to return to Nigeria before the end of the summit on Thursday, January 16, 2025.

The event, themed The Nexus of Next; Supercharging Sustainable Progress, is expected to bring together global leaders to accelerate sustainable development and advance socioeconomic progress.

In addition, it will enable policymakers, business, and civil society leaders to explore pathways to fast-track the transformation to a sustainable economy and evolve a new era of prosperity for all.

ADSW, a testament to the power of collaboration, has been held annually for over 15 years. It provides a global platform to foster multi-stakeholder cooperation in addressing global challenges and accelerating growth.

It has birthed high-value agreements and strategic partnerships between governments, industry leaders, and clean energy pioneers worldwide, driving impactful alliances and advancing the sustainability agenda worldwide.

At the event, President Tinubu will stress his administration’s reforms, including those related to energy sufficiency, transportation, public health, and economic development.

The Nigerian leader and his entourage will also meet with the emirate’s leadership to discuss issues of interest affecting the two nations.

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Lagos Speaker Mudashiru Obasa Faces Renewed Scrutiny Over Financial Mismanagement

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By Dipo Olowookere

The Speaker of the Lagos State House of ​Assembly, Mr Mudashiru Obasa, remains at the centre of a storm of corruption allegations that have plagued his tenure.

Critics, anti-corruption groups, and opposition leaders have accused him of financial mismanagement, extravagant spending, and abuse of office, yet no substantive action has been taken against him.

Recent reports by People’s Gazette revealed that the 40-member Lagos State House of Assembly, under Mr Obasa’s leadership, spent over N43 billion on “back-up vehicles for honourable members” between January 2023 and the third quarter of 2024.

This expenditure, part of a larger N90.5 billion disbursed for questionable projects, has raised concerns among Lagos residents about the state’s priorities amid widespread economic hardship.

Budget documents showed the Assembly spent about N30.1 billion on vehicles in 2023 and about N13.3 billion in the first three quarters of 2024. Critics argued that these sums, which equate to roughly N1.1 billion per lawmaker, were frivolous.

Mr Obasa has faced allegations of corruptions since early in his tenure, including reports of owning over 60 bank accounts used to misappropriate public funds. In 2019, People’s Gazette reported that the lawmaker conducted suspicious foreign exchange transactions totaling $2.4 million (N1.1 billion). These funds were allegedly funneled through personal accounts and mutual fund investments.

In October 2020, the Economic and Financial Crimes Commission (EFCC) invited the Speaker for questioning over allegations of fraud. Despite evidence of financial impropriety, including allegations of inflated contracts and misappropriated Assembly funds, the EFCC has yet to take decisive action. Protests led by civil society groups like the Civil Society Network Against Corruption (CISNAC) demanding accountability have yielded little progress.

Mr Obasa has consistently denied these allegations. Speaking at a recent plenary, he dismissed claims of spending N17 billion on constructing a gate as “spurious and funny.”

He also refuted allegations of spending N200 million on a nonexistent thanksgiving service, attributing the accusations to political fear-mongering ahead of the 2027 elections.

However, critics have dismissed these defenses as self-serving. A 2020 House panel, composed of Mr Obasa’s allies, cleared him of wrongdoing—a decision labeled a “kangaroo judgment” by anti-corruption advocates.

Prominent anti-corruption campaigner, Mr Olanrewaju Suraju, has urged the EFCC to act on the mounting evidence against Mr Obasa, warning that his actions undermine legislative independence and public trust.

“These revelations justify the urgent need for mechanisms to enforce probity and accountability in public office,” Mr Suraju said.

Despite the scandals, Mr Obasa appears unperturbed and untouchable, with analysts attributing his survival to political connections and an entrenched culture of impunity.

As Lagos State prepares for the 2027 elections, the Speaker’s continued tenure symbolizes a broader challenge of corruption and governance in Nigeria’s political landscape.

Observers now await further developments as pressure mounts on anti-graft agencies to act decisively.

For Lagos residents, however, the scandals highlight a troubling disconnect between political leadership and the needs of the people.

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Nigeria Suffers First National Grid Collapse of 2025

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By Modupe Gbadeyanka

Residents of Nigeria experienced a power outage on Saturday, January 11, 2025, after the national grid collapsed.

It was the first that occurred this year and it happened at about 3 pm today, according to information gathered by Business Post.

Last year, the nation recorded about 12 grid collapse that almost embarrassed the government, which later set up a team to look into the causes of the frequent collapse of the grid.

It was later that today’s incident occurred after power generation went down from 2,111.01 megawatts at 2:00 pm to about 390.20 megawatts by 4:55 pm.

This development caused a cut in power supply in most parts of the country, but the situation has been brought under control, with electricity restored in most affected areas.

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