General
Nigeria Gets Netherlands Commitment on Climate, Solid Minerals Investments
By Adedapo Adesanya
President Bola Tinubu has received commitment of investments from the Netherlands in the areas of climate and solid minerals.
This came following a meeting of the Nigerian president with Prime Minister Mark Rutte of the Netherlands at his official residence, known as The Catshuis in The Hague, where he disclosed that Nigeria is well-positioned to power the clean energy future of Europe and the world with its high-grade lithium deposits.
The President said Nigeria offers immense opportunities across a pool of sectors and that his administration is deepening reforms to enhance the investment climate, saying Nigeria seeks robust, balanced, and mutually beneficial partnerships that will bring about value-addition in areas like solid minerals.
“Taking a holistic view of the world order, there is a tremendous opportunity between us across trade spheres but especially in solid minerals, where we have high-grade lithium deposits that we know can power the clean energy future of the world. There is excellent value-additive opportunity in Nigeria. The world knows us for oil. They will soon know us for greater innovative exploits in other areas.
“We have an extremely dynamic youth population in Nigeria. It is a young country. 70% of our people are under the age of 30, and when we are referring to 200 million plus citizens, it represents both a massive workforce and a massive market for Dutch and other international investors.
“If our young people know they can achieve a good future in Nigeria, they will stay home and build our nation to greatness. Lawful migration of trained Nigerian minds and hands will be a benefit to Europe, and irregular migration will no longer be a source of fear in Europe if we partner effectively.
“This is what we want and it is why we are adamant about providing student loans and new credit opportunities to not only enhance the skills of our people but also to ensure that they can access a higher quality of life within their legitimate incomes. We will transform our economy, and our young people will be the reason why,” he said.
President Tinubu asserted that Nigerians have tremendous confidence in themselves and that his confidence in the Nigerian people gave him the courage to make difficult decisions on their behalf, given his full awareness of the need to give Nigerians the long-term tools they need to succeed.
“I am a determined leader of my people. I have and will continue to take the difficult decisions that will benefit our people, even if there is short-term pain. We have gone through the worst of the storms. I am unafraid of the consequences once I know that my actions are in the best long-term interests of all Nigerians.
“The Nigerian Naira is one of the world’s best-performing currencies today. We took the necessary risk, and all resilient Nigerians kept faith with us. They will be rewarded, and the reward will only be greater as we partner effectively with you on new oppportunities for development. As leaders, we must take decisions for the benefit of our nations, and we cannot shy away from that,” Mr Tinub added.
The President further expressed his firm commitment to develop the developmental partnership between the European Union (EU) and Nigeria, noting that symbiotic economic ties remain the best long-term path to sustainable and mutual prosperity rather than one-sided relationships in which bilateral trade is skewed too much in one direction.
On his part, the Prime Minister of the Netherlands noted that President Tinubu’s economic reforms have engendered greater confidence in the Nigerian economy by international investors and that Dutch investors have activated another set of $250 million worth of new investments over the next few months, including a $100 million investment in a waste-to-wealth industrial facility in Lagos State.
“You are promoting democratic governance and the solutions it can bring in dealing with problems of development. I saw how you went through democratic channels to remove an incumbent president in 2015 in partnership with President Buhari and how that has led to development in your country.
“I saw you take the courageous decision to deal with fuel subsidies and other reforms, and we are interested in what allowed you to take the decisions that many before you could not take. And you took those decisions early in your term. It shows rare determination. And your stand in ECOWAS, all of these point to your commitment in leadership,” the Prime Minister stated.
General
Tinubu in UAE for 2025 Abu Dhabi Sustainability Week
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.
General
Lagos Speaker Mudashiru Obasa Faces Renewed Scrutiny Over Financial Mismanagement
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.
General
Nigeria Suffers First National Grid Collapse of 2025
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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