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Osinbajo Commissions Fertilizer Plant, BUA Cement Factory in Edo

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  • Osinbajo Commissions Fertilizer Plant, BUA Cement Factory in Edo

Vice President, Yemi Osinbajo on Tuesday inaugurated the 60,000 metric tonnes per annum Edo State Fertilizer Plant, Auchi; and a two million metric tonnes per annum BUA Cement Plant at Okpella,in Etsako West and Etsako East Local Government Areas of the state.

Inaugurating the BUA cement plant, the vice president said: “The construction of this plant is of course a big boost to the Nigeria economy, it will provide thousands of direct and indirect jobs both for skilled and unskilled workers from the commencement of the construction of the plant to the smooth running of the operations process.”

According to him, at the level of production obtained, it also means the consolidation of the Nigeria’s self-sufficiency in cement and a big boost to our export capacity.

“I am happy to note that for the construction of power production facility for this plant, the BUA group has used the most modern and efficient gas turbine which combines low and economically value cost with a very high degree of reliability.”

In Auchi, Osinbajo inaugurated the Edo Fertilizer Plant and Chemical Company Limited, a public, private venture which has the capacity to produce about 60,000 metric tones of fertilizer per annum.

The vice president who was accompanied by the Ministers of Agriculture and Rural Development, Chief Audu Ogbeh; and Industry, Trade and Investment, Dr. Okechukwu Enelamah, commended the foresight of the Edo State Governor, Mr. Godwin Obaseki, for creating the enabling business environment which saw to the revitalisation of the fertilizer plant which had been non-functional for about 14 years.

Osinbajo expressed delight at the 500 direct jobs that have been created by the investment, stressing that much more employment opportunities would result from the ancillary economic activities that would be generated by the fertilizer plant.

Commending the governor for having the right attitude to development, he called on leaders across the country in different areas to dedicate themselves to activities that will improve the lot of their people.

“The President Muhammadu Buhari administration is committed to making it easy for investors to do business in the country. We want to achieve this through the promotion of transparency and efficiency. We want every state to be involved in this drive and create the enabling environment for business to thrive in their domain,” Osinbajo said.

He said the revitalisation of fertilizer blending plants across the country was the direct consequence of the presidential initiative to diversify the economy from crude oil, boost farming activities as well as develop the agricultural value chain.

The vice president added that agricultural activities in the country could be enhanced significantly if there was improved access to inputs, hence the drive to make fertilizer which is a major farm input, easily available and accessible to farmers in Nigeria.

Osinbajo explained that the blending plant would also complement Obaseki’s agricultural development initiative which is aimed at improving investment in agriculture via public private partnership (PPP) as well as creating jobs for youths across the three senatorial districts of the state.

In his remarks, Obaseki said the inauguration of the fertilizer plant signified a milestone in his administration as the facility was never operated for a day after it was fraudulently launched by the opposition party about 14 years ago.

He said what the opposition could not do for nearly a decade, his government, with the support of the Edo people, has done it in only about nine months.

The governor said: “The aim of revitalising this plant is to make the state self-sufficient in food production and enable farmers get fertilizer at affordable prices. We in Edo State are determined to make food available in the country.”

He added that the facility would go a long way in providing fertilizer for neighbouring states such as Kogi, Delta, Ondo and Anambra, among others as it was the only blending plant in the region.

Obaseki commended the leadership role played by the federal government in the execution of the Presidential Fertilizer Initiative as well as the management of WACOT for partnering the Edo State Government in revamping the plant.

“This achievement is an open call to other investors to bring in new technology, create more jobs and expand our economic opportunities,” he said.

The governor called on the traditional ruler, Otaru of Auchi; the community where the plant is located, to ensure the protection of the facility against vandalism as it creates a large range of opportunities for businesses in the community and the state.

Also speaking the Group Managing Director of WACOT, Mr. Rahul Savara, commended the Vice President for ianuguration the plant and governor Godwin Obaseki for fostering the partnership between the state and his company.

He said the presidential fertilizer initiative has made local production feasible and sustainable in the country, assuring that the Edo Fertilizer and Chemical Company would be made up of 95 per cent indigenous workers.

Speaking of the numerous benefits of having a fertilizer blending plant in the state, the Deputy Governor of Edo, Rt. Hon. Philip Shaibu said: “Many jobs will be created, it will boost business activities, farmers will no longer go through undue hardship before they get fertilizer to buy and productivity will increase. We are keying into the federal government policy to make fertilizer affordable and available in the country.”

In his remarks, the Otaru of Auchi, Alhaji Aliru H. Momoh, Ikelebe the III, said the inauguration of the plant demonstrates Governor Obaseki’s zeal to improve the economy as well as industrialise the state.

“The governor brought in people to revamp this plant and told us at the palace that within three months, it will become functional, we taught it was a joke, but thanks to Allah that we are here to witness the commissioning of the plant,” the traditional ruler said.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Lagos Eyes Investment Surge as Sanwo-Olu Unveils Growth Strategy

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Governor Babajide Sanwo-Olu of Lagos State is spearheading a bold push to attract significant investment inflow to boost the state’s economic growth.

During a Pre-Summit Investor Roundtable at the Africa Social Impact Summit (ASIS 3.0), held at Eko Hotels and Suites, the governor outlined strategic opportunities for investors.

With the theme “Invest Lagos – Investment Opportunities,” the summit was organized by the Sterling One Foundation in collaboration with the Ministry of Commerce, Cooperatives, Trade, and Investment.

Attended by business leaders, chambers of commerce, and industry captains, the event underscored Lagos’ potential as a hub for economic activity.

Sanwo-Olu highlighted Lagos’ positive economic outlook, citing an expanding population and sustainable infrastructure as key growth drivers.

Despite challenging business environments, the state’s economy has shown resilience, welcoming new investments while sustaining existing ones.

The governor emphasized reforms aimed at improving the ease of doing business. He mentioned that digitizing services had reduced bureaucratic hurdles, fostering a stable business climate.

Sanwo-Olu assured potential investors of the state’s commitment to creating a supportive environment that ensures returns and security for investments.

“In the last five years, Lagos’ GDP has grown by 50 percent,” Sanwo-Olu stated. “We aim to sustain this growth and ensure the gains of the past years are not reversed.”

Sanwo-Olu identified sectors ripe for investment, including transportation, tourism, health insurance, and waterways. He expressed the government’s dedication to advancing development plans in these areas.

Commissioner for Commerce, Cooperatives, Trade, and Investment, Mrs. Folashade Ambrose-Medebem, highlighted Lagos’ economic strides, noting that the state’s GDP had increased from N27 trillion to N41 trillion in five years.

She detailed strategic investments, particularly the allocation of N550.7 billion for infrastructure in 2024, and the commitment of N44.33 billion to food security initiatives.

Sterling Bank’s Managing Director, Mr. Abubakar Suleiman, pointed out that economic growth in Africa is often hindered by an unstable investment climate.

The summit aimed to build investor confidence by fostering trust and transparency in business environments.

“Lagos remains a leading destination for investors,” Suleiman noted. “The state provides clarity and access to markets, maintaining consistency in its investment strategies.”

Sanwo-Olu’s administration continues to focus on diversifying Lagos’ economy through strategic investments in various sectors.

The state’s proactive approach has positioned it as a global city and an emerging African financial center.

The governor’s initiative is expected to further solidify Lagos’ reputation as a prime investment destination, paving the way for sustained economic growth and development.

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Vice-President Harris Gathers Momentum as Democratic Nominee

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Vice-President Kamala Harris has secured the support needed to become the Democratic nominee for president.

This was after President Joe Biden announced he would not seek re-election, endorsing Harris as his successor.

According to CBS News, Harris has received endorsements from over 1,976 delegates, surpassing the threshold needed to clinch the nomination in the first round of voting at the Democratic National Convention (DNC) scheduled for August.

Delegations from at least 27 states have expressed full support, showcasing a strong backing across the nation.

In her address to campaign staff in Wilmington, Delaware, Harris expressed gratitude for the widespread support, adding that she committed to uniting the party and the country.

“We have 106 days until Election Day, and in that time, we have some hard work to do,” she stated.

Harris laid out her vision for America, contrasting it with that of her likely opponent, Donald Trump.

Speaking on the direction of the campaign thus far, she said “Our campaign has always been about two different versions of what we see as the future of our country. One focuses on the future, the other focuses on the past.”

She acknowledged the accomplishments of the Biden administration, highlighting her pride in serving as vice-president.

“My time serving as vice-president was one of the greatest honors of my life,” Harris said, underscoring her dedication to continuing the work they started.

In a phone call to his campaign team, Biden praised Harris, urging his supporters to rally behind her. “I’m hoping you’ll give every bit of your heart and soul that you gave to me to Kamala,” he said.

Despite stepping back from the race, Biden vowed to remain actively involved in supporting Harris and emphasized the importance of defeating Trump, calling him “a danger to this nation.”

Harris’s nomination marks a significant milestone, but challenges remain. The campaign will focus on addressing key issues such as healthcare, climate change, and economic inequality.

With millions of dollars pouring into her campaign since Biden’s announcement, Harris aims to capitalize on the momentum and build a coalition that appeals to a broad spectrum of voters.

As the DNC approaches, Harris is expected to formally accept the nomination, solidifying her position as the Democratic leader.

The coming months will be crucial as she works to unite the party and reach out to undecided voters. With her historic nomination, Harris stands poised to make a lasting impact on the future of American politics.

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President Declines Nomination, Endorses Harris for 2024

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In a significant political announcement on his X.com account, President Joe Biden has decided to forgo the opportunity to seek re-election in 2024, instead throwing his full support behind Vice President Kamala Harris.

The surprise move, shared with the public this morning, represents a pivotal moment in the Democratic Party’s journey toward the upcoming presidential election.

In his statement, Biden said that his choice to step aside is driven by a desire to concentrate on his remaining duties as President.

He expressed gratitude for the opportunity to serve alongside Harris, calling her selection as his Vice President in 2020 “the best decision” he has made. “My fellow Democrats,” Biden began, “I have decided not to accept the nomination and to focus all my energies on my duties as President for the remainder of my term.”

The President’s announcement signifies a strategic shift in the 2024 election landscape. By endorsing Kamala Harris, Biden not only aims to consolidate support within the party but also to set the stage for a unified front against former President Donald Trump.

“Today I want to offer my full support and endorsement for Kamala to be the nominee of our party this year,” Biden declared. “Democrats — it’s time to come together and beat Trump. Let’s do this.”

This endorsement comes as a surprise to many, given Biden’s earlier commitment to seeking re-election.

However, it reflects a broader strategic maneuver to ensure party unity and strengthen the Democratic position in the face of a formidable opponent. By focusing on Harris, Biden aims to leverage her growing popularity and political acumen to fortify the party’s chances in the upcoming election.

Kamala Harris, who has served as Vice President since January 2021, will now be thrust into the spotlight as the presumptive Democratic nominee.

Her campaign is expected to build on the legacy of the current administration while addressing key issues facing the nation.

The move also raises the stakes for the Republicans, who will need to prepare for a robust campaign from a seasoned political leader in Harris.

As the 2024 election cycle ramps up, Biden’s endorsement is likely to reshape the dynamics of the race, influencing both Democratic strategies and Republican responses.

The coming months will be critical as Harris and her team work to solidify their platform and rally support from voters across the nation.

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