News
Buhari To Investors: Capital Inflow Our Major Challenge
President Muhammadu Buhari has said that lack of capital inflow from investors, especially those outside the country, is a serious challenge for Nigeria.
He stated this yesterday while speaking at the Nigeria International Economic Partnership Forum on the sidelines of the United Nations General Assembly (UNGA 77) in New York.
In his keynote address delivered by his Chief of Staff, Professor Ibrahim Gambari, Buhari said Nigeria’s economy was ripe for increased investment.
“But on the contrary, private capital flows into Nigeria, consisting mainly of Foreign Direct Investment, have slowed, hindering the financing of much-needed infrastructure and natural resource access projects.
He said a key strategy being adopted was the Integrated National Financing Strategy, which sought to identify ways to expand the financing envelope of the sustainable development goals in Nigeria and enhance the sustainable development impact of financing by seeking to integrate and align public and private financial policies, regulatory frameworks, instruments, and business processes with sustainable development. The private sector will play a significant role in this strategy.
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The president said: “The power sector is recognised as a major catalyst for Nigeria’s industrialisation. To this end, in July 2021, I launched the 614-kilometre Ajaokuta-Kaduna-Kano gas pipeline project to enhance our energy security.
“Our administration also provided the sovereign guarantee for this vital infrastructure project and when completed, this project will drive industrialisation across the country.
“Furthermore, the first phase of the Presidential Power Initiative will provide over 40 million people with more reliable electricity supply, create 11,000 direct and indirect jobs for Nigerians.”
Speaking on insecurity, Buhari said: “The level of insecurity on account of Boko Haram and other terrorist organisations such as ISWAP as well as banditry and kidnapping groups across Nigeria have also impacted negatively on our efforts. Happily, we are overcoming such bends with huge prospects for stability, which foreign direct investments can count upon. The advantages and disadvantages of investing in Nigeria far outweigh the challenges.”
Nigeria needs help to tackle debt burden- Adesina
Speaking at the event, the President of the African Development Bank (ADB), Akinwunmi Adesina has said Nigeria needs debt relief to tackle its debt burden.
Adesina argued that several African countries were at risk of high debt distress due to unstable and unsustainable debt levels. He said: “Nigeria’s debt level is N42.8 4 trillion, or $103 billion; external debt levels stand at N16.61 trillion naira or $14 billion.
“It is my firm belief that Nigeria needs to tackle its debt and international partnerships on debts will be needed to help Africa and Nigeria,” he said.
He said the National Integrated Infrastructure master plan showed that Nigeria will need total financing of $759 billion to support infrastructure over a 23-year horizon from 2020 to 2043.
According to the ADB president, “Nigeria holds impressive investments that are global reference. The newly constructed $10 billion Dangote Petrochemical and Fertiliser complex, the world’s largest ammonia plant in the free trade zone with a new port is exactly the kind of massive infrastructure and industrial manufacturing that is needed to make Nigeria a regional and global powerhouse gasoline, diesel and aviation for enterprise value chains.”
Categorise Nigeria’s stolen crude as ‘blood oil’ Kyari
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari called on the international community to label stolen oil from Nigeria as ‘blood oil.’
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Kyari said the international community needed to support Nigeria because oil thrift had signatures.
He also called on the AFRIEXIM Bank to consider partnering with the NNPCL to achieve its objectives.
FG considering review of tax incentives
The Minister of Finance, Budget and National Economy, Zainab Ahmed said Nigeria had identified revenue leakages that were being systematically blocked by digitisation and the various tax systems.
She said: “There are some ineffective tax incentives that are currently in the process of being reviewed; some that have reached returning with maturity will not be renewed.
“There might be some rewards that have been introduced and we trying to make sure that we are getting value for the investments that they are providing,” she said.
Interest rate will continue to rise-CBN
Speaking at the forum, the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele hinted that interest rates will continue to rise in a bid to check rising inflation.
Emefiele said: “I am not going to give any guarantee to anybody that we will not continue to tighten or raise rates as long as we continue to see inflation at the current levels that we have seen. We have seen how the issues of inflation have led to a significant slowdown in global growth.”
He said the Swedish Central Bank raised rates by their highest margin in the last 30 years and in the last couple of days, the fed also raised rates, the second time by about 3% already.
“If the US Fed in history has raised rates this year, one year by 2 per cent, you could imagine what that means for the global economy.”
Daily Trust
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News
FG Opens Nationwide Youth Registration, Targets Nigerians Aged 15–35
FG Opens Nationwide Youth Registration, Targets Nigerians Aged 15–35
The Federal Government has commenced nationwide registration of Nigerians aged 15 to 35 under the National Youth Data Bank (NYDB), a new initiative designed to build a reliable database of young people and support access to jobs, skills training, internships, entrepreneurship and other opportunities.
Minister of Youth Development, Ayodele Olawande, announced the commencement of the exercise as the government launched the National Youth Data Bank, saying accurate youth data would help improve the planning, targeting and delivery of government programmes.
The NYDB is designed to capture information on young Nigerians, including their education, skills, employment, entrepreneurship and other demographic characteristics. The official platform says the database is intended to provide a centralised and continuously updated picture of Nigeria’s youth population.
The government said the initiative is not an electoral registration exercise but a youth development programme aimed at improving how government identifies young people and connects them with relevant opportunities.
The registration covers young Nigerians in different sectors and settings, including those in schools, the informal sector, agriculture, sports, creative industries and technology.
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A key part of the exercise is the establishment of approved NYDB registration centres or cluster points. According to the official NYDB platform, young Nigerians can register at approved locations within their state, Local Government Area (LGA), school or other specially designated locations.
This means that not every school, LGA office or public facility is automatically a registration centre. Applicants are expected to use approved NYDB cluster points, where trained registration personnel will guide them through the process.
The exercise is being extended across Nigeria’s 36 states and the Federal Capital Territory, with the programme designed to reach young people in rural and underserved communities as well as those in urban areas.
The registration process begins with a visit to an approved NYDB cluster point, followed by an eligibility check and the creation of a youth profile. Participants are then required to confirm the information provided before completing the registration.
The 15 to 35 age bracket is the target population for the data-bank exercise. The database is expected to be updated continuously to maintain current information on eligible young Nigerians.
The Federal Ministry of Youth Development says the information gathered will help government understand where young people are located, what qualifications and skills they have, whether they are employed or seeking opportunities, and what forms of support may be required.
The NYDB platform identifies education, skills, employment, entrepreneurship, civic participation and health among the key areas of information being developed to strengthen youth-focused planning and interventions.
The initiative is also expected to improve the ability of government and authorised partners to identify young people who may be missing from existing datasets, particularly those in rural communities and underserved groups.
The Federal Ministry of Youth Development has separately announced plans for a National Youth Confab 2026, scheduled to begin in October, with participation expected from young Nigerians across the country’s 360 federal constituencies.
For Nigerians within the 15–35 age bracket, the government is therefore encouraging participation through the approved NYDB registration centres as the nationwide exercise expands.
FG Opens Nationwide Youth Registration, Targets Nigerians Aged 15–35
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News
Tinubu Returns After 30 Days in Europe, Says ‘I’m Healthy and Ready to Work’
Tinubu Returns After 30 Days in Europe, Says ‘I’m Healthy and Ready to Work’
President Bola Ahmed Tinubu has returned to Nigeria after spending about 30 days in Europe, declaring that he is healthy, sound and ready to work after his extended working vacation.
Tinubu arrived at the Presidential Wing of the Murtala Muhammed International Airport, Lagos, at about 6:22pm on Tuesday after departing Paris, France, where he spent the final part of his trip.
Speaking briefly after his arrival, the President said he had enjoyed his time abroad and dismissed concerns about his health.
“I enjoyed myself,” Tinubu said when asked about his trip.
Asked whether he was ready to resume work, he replied: “Ready to kick. Ready to work. There’s nothing wrong.” He also described himself as “healthy, sound and ready to go.”
Tinubu left Nigeria on August 30 for what was initially announced as a three-week working vacation. He spent time in London before travelling to Paris, with the Presidency later announcing an extension of his stay.
During the European trip, Tinubu maintained contact with Nigerian officials and continued to receive updates on government affairs, according to the Presidency.
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While in Paris, he held a private dinner with French President Emmanuel Macron at the Élysée Palace and met French businessman Vincent Bolloré and executives of the Bolloré Group.
He also witnessed the signing of an agreement involving the Ogun State Government and DP World for the proposed development of the Gateway Deep Sea Port and Blue Marine Economic Zone. The Presidency has described the proposed project as a $7 billion investment.
Tinubu’s extended stay abroad attracted public debate, particularly after he did not personally attend the 81st United Nations General Assembly (UNGA) in New York.
Vice President Kashim Shettima represented Nigeria at the UNGA and delivered the country’s national statement.
The Presidency defended the arrangement, maintaining that Tinubu remained in charge of government and continued to direct affairs while abroad.
His return to Nigeria through Lagos also comes ahead of the country’s 66th Independence Day celebrations on October 1.
Tinubu is expected to attend the premiere of MKO, a documentary on the life of the late businessman and pro-democracy campaigner MKO Abiola, at the Wole Soyinka National Theatre in Iganmu, Lagos.
The film features archival material and interviews with prominent Nigerians, including former military leaders Ibrahim Babangida and Abdulsalami Abubakar, former President Olusegun Obasanjo, Nobel laureate Wole Soyinka and Tinubu.
Tinubu’s return brings his extended European working vacation to an end, with the President expected to resume his regular official engagements as the administration enters the final quarter of 2026.
Tinubu Returns After 30 Days in Europe, Says ‘I’m Healthy and Ready to Work’
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News
Breaking: Tinubu Ends Extended European Vacation, Departs Paris for Nigeria
Breaking: Tinubu Ends Extended European Vacation, Departs Paris for Nigeria
President Bola Ahmed Tinubu has departed Paris, France, for Nigeria, bringing to an end his extended working vacation in Europe, with his aircraft expected to arrive at the Murtala Muhammed International Airport, Lagos, later Tuesday.
The President left Abuja on August 30 for London to begin his working vacation and subsequently moved to Paris, where he held official engagements, including meetings with French President Emmanuel Macron and business leaders.
His stay, initially expected to last about three weeks, was extended by the Presidency, which announced on September 21 that Tinubu would return to Nigeria after a few additional days.
In a statement on Tuesday, Special Adviser to the President on Information and Strategy, Bayo Onanuga, confirmed that Tinubu had departed Paris for Nigeria.
Onanuga said the President’s aircraft was expected to touch down in Lagos later in the day.
According to the presidential spokesman, Tinubu chose to return through Lagos to honour the memory of the late Chief Moshood Kashimawo Olawale Abiola, widely associated with the struggle for the restoration of democratic rule in Nigeria.
The President is also expected to participate in activities surrounding Nigeria’s 66th Independence Anniversary on October 1 before returning to Abuja.
Tinubu’s prolonged absence from the country had generated public debate, particularly after he did not personally attend the 81st United Nations General Assembly in New York, where Vice President Kashim Shettima represented Nigeria.
The Presidency, however, maintained that Tinubu remained engaged with the affairs of government throughout his stay abroad. It said he continued to issue directives and conduct official business remotely while Vice President Shettima and other senior government officials represented him at various engagements.
During his stay in France, Tinubu also held talks with Vincent Bolloré of the Bolloré Group on expanded investments in Nigeria’s creative and digital economy. The State House said the discussions covered areas including film, entertainment, fibre-optic infrastructure and related sectors.
His return comes as the administration continues to focus on its economic reform programme, infrastructure development, energy transition and investment drive.
The President is expected to remain in Lagos for the Independence anniversary activities before returning to Abuja.
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