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BREAKING: El-Rufai returns to private sector, announces withdrawal from active politics
BREAKING: El-Rufai returns to private sector, announces withdrawal from active politics
Nasir El-Rufai, the former governor of Kaduna state, has announced his withdrawal from politics and re-entry into the private sector.
El-Rufai, a certified quantity surveyor, revealed plans to create Afri-Venture Capital Company Ltd on X on Monday, with activities slated to begin in Abuja in early 2024.
He stated that the firm’s goal is to encourage and finance Nigerian and African entrepreneurs in order to shape the next generation of entrepreneurial giants.
El-Rufai will spearhead this endeavor with distinguished directors Jimi Lawal, Hafiz Bayero, Eyo Ekpo, and Kabir Yabo, with the goal of nurturing and mentoring future industry leaders, potentially producing Dangote Group equivalents of tomorrow.
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According to the former FCT minister, the enterprise has potential for young entrepreneurs and innovators, heralding a wave of support and opportunity in Africa’s commercial scene.
“What young people need is essentially mentoring and financing to get things going. They develop the idea and see whether it is viable. And we will open doors for them because they don’t have contact.
“They don’t know or have access to ministers, presidents, or regulatory agencies. We do. We know the minefields that they have to navigate. We know that they need to give them appointments and we can provide them with the startup funding and in return we take an equity position.
“We don’t want to take your business; we want to develop it. But if we take the risk on you, we will take a percentage of the business,” El-Rufai told Business Day.
BREAKING: El-Rufai returns to private sector, announces withdrawal from active politics
News
Tinubu, Starmer Meet as UK Backs £746m Lagos Port Upgrade Deal
Tinubu, Starmer Meet as UK Backs £746m Lagos Port Upgrade Deal
President Bola Ahmed Tinubu on Thursday held high-level talks with UK Prime Minister Keir Starmer as both countries move to deepen Nigeria–UK bilateral relations and finalise a £746 million port infrastructure deal.
According to a statement by presidential spokesman Bayo Onanuga, the meeting is expected to culminate in the signing of multiple Memoranda of Understanding (MoUs) covering trade, investment, defence cooperation, and cultural exchange.
The engagement underscores Nigeria’s push to attract foreign direct investment (FDI), strengthen economic diplomacy, and accelerate the modernisation of critical infrastructure.
At the centre of Tinubu’s UK visit is a £746 million financing agreement involving UK Export Finance, the Nigerian Ports Authority, and the Federal Ministry of Finance.
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The deal will fund the refurbishment and upgrade of two of Nigeria’s busiest seaports:
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Lagos Port Complex (Apapa Quays)
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Tin Can Island Port Complex
Officials say the project will focus on rehabilitating ageing port infrastructure, improving cargo handling efficiency, and reducing congestion — long-standing challenges that have hindered Nigeria’s maritime sector.
The upgrades are also expected to enhance trade facilitation, revenue generation, and logistics efficiency, positioning Nigeria as a stronger maritime hub in West Africa.
Beyond infrastructure, discussions between Tinubu and Starmer also covered security cooperation, regional stability, and economic partnerships, reflecting a broader strategic alignment between both countries.
Analysts note that the involvement of UK Export Finance signals strong UK government backing for the project, which could open the door for more British investments in Nigeria’s transport, energy, and infrastructure sectors.
The agreement is considered one of the largest recent external financing deals in Nigeria’s port sector, with potential to create jobs, boost exports, and improve the ease of doing business.
Tinubu, Starmer Meet as UK Backs £746m Lagos Port Upgrade Deal
News
9 Things King Charles III Said About Nigeria
9 Things King Charles III Said About Nigeria
King Charles III delivered warm remarks about Nigeria during a state banquet at Windsor Castle, highlighting the deep historical ties, cultural connections, and contributions of Nigerians to the United Kingdom and the wider world.
Here are nine key things the monarch said about Nigeria:
1. Strong Historical Ties
King Charles III emphasized the long-standing relationship between Nigeria and the United Kingdom, describing it as one built on centuries of shared history, engagement, and mutual influence.
2. Shared Values and Partnership
He noted that both nations are united by common values, including a commitment to progress, resilience, and continued cooperation in global affairs.
3. Nigeria’s Role in the Commonwealth
The King acknowledged Nigeria as one of the most significant members of the Commonwealth, underlining its importance in the continued growth and relevance of the organisation.
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4. Contribution of Nigerians in the UK
He praised the Nigerian diaspora in the United Kingdom for their positive impact across various sectors, describing them as a vibrant and dynamic community.
5. Nigerian Professionals in the NHS
King Charles highlighted the vital role played by Nigerian doctors and healthcare workers in the UK’s National Health Service, noting their indispensable contributions to healthcare delivery.
6. Cultural and Human Connections
He referenced the strong cultural links between both countries, including the presence of Nigerians in sports, arts, and other areas of public life in the UK.
7. Nigeria’s Global Influence
The monarch acknowledged Nigeria’s influence as a major African nation with a growing global presence, particularly through its youthful and energetic population.
8. Commitment to Security and Stability
King Charles III noted Nigeria’s role in addressing regional security challenges, especially in West Africa and the Sahel, and the importance of international partnerships in tackling such issues.
9. Enduring Friendship Between Both Nations
He reaffirmed the enduring friendship between Nigeria and the UK, expressing optimism that the relationship will continue to strengthen in the years ahead.
The remarks reflect a broader diplomatic tone of cooperation and mutual respect, reinforcing the historical and contemporary ties between both countries.
9 Things King Charles III Said About Nigeria
News
Tinubu Celebrates Nigeria-UK Ties in Historic Windsor Castle Speech
Tinubu Celebrates Nigeria-UK Ties in Historic Windsor Castle Speech
President Bola Ahmed Tinubu has reaffirmed Nigeria’s strong diplomatic, historical, and cultural ties with the United Kingdom, highlighting the contributions of Nigerians in Britain—particularly healthcare professionals—during a landmark speech at Windsor Castle.
Addressing King Charles III, Queen Camilla, Prince William and Catherine, Princess of Wales at a state banquet on March 18, 2026, Tinubu described the occasion as a historic moment, noting that he is the first Nigerian leader to deliver a speech at the iconic royal residence.
The Nigerian leader emphasized the enduring relationship between Nigeria and the United Kingdom, rooted in shared history, democratic values, and institutional development. He referenced the influence of British legal and political traditions on Nigeria’s governance system, citing the legacy of the Magna Carta and the works of philosophers such as John Locke and Thomas Hobbes, which he said helped shape modern democratic ideals still evident in Nigeria today.
Tinubu paid special tribute to the Nigerian diaspora in the UK, describing them as a “dynamic and invaluable bridge” between both nations. He singled out Nigerian healthcare professionals for their significant role in supporting the National Health Service, noting that Nigerian-trained doctors and nurses form one of the largest groups of international medical personnel in the system. According to him, their performance underscores the global competitiveness of Nigerian professionals and the strength of Nigeria’s education and training systems.
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The President also pointed to strong cultural and sporting ties, referencing athletes of Nigerian heritage excelling in the UK, including Maro Itoje, Bukayo Saka, Eberechi Eze, and Anthony Joshua. He said these figures reflect the deep human connections linking both countries beyond politics and diplomacy.
Tinubu highlighted ongoing security challenges in West Africa, particularly terrorism in the Sahel region, stressing Nigeria’s role in maintaining regional stability. He noted that partnership with the United Kingdom remains crucial, revealing plans to meet Keir Starmer to further strengthen cooperation on security and development. He also reaffirmed Nigeria’s commitment to the Commonwealth of Nations, describing it as a vital platform for collaboration among member states.
In a personal reflection, Tinubu expressed gratitude to the UK for offering him refuge during Nigeria’s military era, recalling how he was protected by the Metropolitan Police while in exile. He described the experience as deeply humbling, noting the significance of returning to Britain as Nigeria’s democratically elected president.
Tinubu concluded by expressing confidence that Nigeria-UK relations will continue to deepen, built on mutual respect, shared values, and a common vision for progress. He invited guests to raise a toast to the enduring friendship between both nations and a future of stronger collaboration.
Tinubu Celebrates Nigeria-UK Ties in Historic Windsor Castle Speech
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