Lates News: LCCI Statement on New Delhi G20 Summit and UAE Lifting Visa Ban for Nigerians.
LCCI Statement on New Delhi G20 Summit and UAE Lifting Visa Ban for Nigerians
The Lagos Chamber of Commerce and Industry (LCCI) noted the participation of the Federal Government of Nigeria in the just concluded G20 Summit in New Delhi, India, and expressed its appreciation for President Bola Tinubu’s attendance at world leaders’ events. As other world leaders have acknowledged, this is a testament to the president’s strong leadership. Nigeria’s invitation to attend the G20 summit demonstrates the country’s strategic importance on the global stage and its capabilities as Africa’s largest democracy and economy.
Speaking at the event, President Bola Tinubu said Nigeria was committed to playing a significant role in the G20 and contributing to shaping a more equitable world. He called for global unity and cooperation to address pressing challenges, promote inclusiveness, and build a more equitable world order.
The President made the most of this opportunity to meet with the Leader of the United Arab Emirates, Mohamed bin Zayed Al Nahyan, to advance his investment promotion objectives on an equal footing with high-level authorities from the public and private sectors in the United Arab Emirates. The UAE’s eventual lifting of the visa ban on Nigerians is commendable as it will open up opportunities and improve ease of business between the two countries.
Outcome of President Bola Tinubu’s meeting with leaders of the United States, Germany and South Korea, as well as Indian investors, who pledged $14 billion in direct investment in key sectors such as steel, petrochemicals, power and agriculture to provide organized A sense of pride has been instilled in the private sector (OPS) and Nigerians at large. These proposed investments are sure to have a positive impact on job creation, economic development and diversification of the country’s economy.
However, the LCCI would be grateful if the presidential team followed the example of India, Saudi Arabia and China and set up a dedicated website providing useful investment information. These websites should contain details of the areas requiring investment and the funding required for each project. This strategy has the potential to provide global investment opportunities without excessive or unnecessary physical interaction/movement. In addition, domestic players in various sectors will have the opportunity to accurately understand the current industry situation, including the expected number of agreements and investments in each sector. Such platforms would serve as reliable information and indicators for assessing performance and serve as a basis for developing policies aimed at incentivizing industries that lack investment interest.
The Chamber of Commerce expressed satisfaction with the G20 granting the African Union permanent member status, a development that will enhance the African continent’s influence and participation in global governance.
The President is addressing the issues we face as a nation, and Nigeria’s organized private sector supports these actions. The Chamber also congratulated the President on his 100th day in office and urged him to remain focused on efforts to make Nigeria’s private and public sectors serve the people well.
ASIWAJU (PhD) MICHAEL OLAWALE-COLE, CON, MFR, FNIM, CNIM, FIoD
President/Chairman of the Board of Directors
Lagos Chamber of Commerce and Industry (LCCI)
September 12, 2023.
State House Press Release
President Tinubu appoints new acting executive chairman of Federal Inland Revenue Board
President Bola Tinubu has approved the appointment of His Excellency. Zacch Adedeji is the new Acting Executive Chairman of the Federal Inland Revenue Service (FIRS).
The President has directed the immediate past Chairman, FIRS, Mr. Muhammad Nami, to continue his pre-retirement leave for 3 months as provided for in Public Service Rules (PSR) 120243 with immediate effect, culminating in his retirement on December 8, 2023.
Dear. Zacch Adedeji is hereby appointed as Acting for a term of 90 days and subsequently confirmed for the first time as the Substantive Executive Chairman of the Federal Inland Revenue Service for a term of four (4) years.
Dear. Zacch Adedeji is a first-class graduate in Accounting from Obafemi Awolowo University. He most recently served as the Special Adviser to the President on National Taxation and previously served with distinction as the Financial Commissioner of Oyo State and the Executive Secretary/CEO of the National Sugar Development Council (NSDC).
Pursuant to these directives from the President, the new appointments are effective immediately.
Chief Ajuri Nglale
special adviser to the president
(Media and Publicity)
September 14, 2023
Despite challenges, Nigeria remains the envy of the international community – Group
Abuja, September 10, 2023 (NAN)
Progressive Nigeria for a Sustainable Future (PNSF) said despite the challenges faced by Nigeria at the national and state levels, it remains the envy of the international community.
Prince Ade Omole, co-convenor of the group, said this on Saturday at a dinner held in Abuja, Nigeria, to celebrate President Bola Ahmed Tinubu’s 100th day in office.
Omole, Director of Diaspora Affairs of the defunct All Progressives Congress (APC) Presidential Campaign Committee (PCC), congratulated Nigerians on the peaceful transition, historic inauguration and Tinubu’s successful 100th day in office.
He said this demonstrated the growing commitment of Nigeria’s leadership and its citizens to the principles of democracy and good governance.
He added, however, that we must build on our achievements as elder statesmen, leaders and captains of industry.
“Our followers look to us to provide direction, guidance and a solid foundation for political and economic development in Nigeria,” Omole said.
He added that continued support and prayers from Nigerians are still needed in the difficult but not impossible task of nation building.
He congratulated President Tinubu and Vice President Qasim Shettima for steering the ship of nation in the right direction since May 29.
He also congratulated them on their victory in the Presidential Election Petition Tribunal and commended them for their maturity and statesmanship.
Omole said Tinubu had achieved unprecedented achievements in just 100 days in office, marking a just, prosperous and sustainable Nigeria that everyone would be proud of.
He noted that the policy decisions taken by President Tinubu had pulled the country from the brink of socio-economic disaster.
He described some of these policies as front-line charges that have reignited hope among the Nigerian public that better days are still possible for the government.
Omole said much of the party’s manifesto was built on Tinubu’s “Restore Hope Agenda”.
“On President Tinubu’s Inauguration Day on Monday, May 29, 2023, he announced the end of fuel subsidy and reiterated that it is dead and buried.
“Yes, the removal of fuel subsidies has caused and will continue to cause socio-economic disruption in the polity, but we have also put measures in place to cushion the economic impact.
“We cannot ignore this difficulty because if we must gain long-term gains as a country, removal will have to endure the short-term pain.
“However, the flip side of the removal of fuel subsidy is that the state exchequer will save at least N1 trillion,” he said.
He stressed that this significant revenue increase has increased federal funding for our local governments since July 2023.
He added that it also creates new leases on the state’s coffers as more funds become available for capital projects.
He noted that harmonizing the country’s ambiguous foreign exchange regime, which was reprehensible if not damaging to national income, was another noteworthy bold move of Tinubu’s presidency.
“Days after taking office, Tinubu ordered the harmonization of conflicting foreign exchange regimes. This unique move rekindled yet another hope for the Nigerian people.
“These bloody steps by a bold president are a clear sign that Tinubu’s presidency will be different than usual.
“One of the most accurate measures of a good and outstanding leader is how he responds to situations.
He pointed out that Tinubu is currently in India and will soon return home with the investment benefits from Nigerians.
According to Omole, the President attracted over $14 billion in investment commitments from investors in the subcontinent at the Nigeria-India Economic Roundtable.
