New Post Africa

Category: Economy & Policy

  • FG urges states to harness AfCFTA opportunities to drive industrialisation, job creation

    FG urges states to harness AfCFTA opportunities to drive industrialisation, job creation

    ABUJA, Nigeria (Agency Report) — The Federal Government has urged state governments to take full advantage of opportunities offered by the African Continental Free Trade Area (AfCFTA) to accelerate industrialisation, expand exports, attract investment and create jobs across Nigeria.

    Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, made the call on Monday during a Working Visit and Strategic Engagement with State Commissioners of Commerce, Trade and Investment in Abuja.

    She said the meeting was convened to strengthen collaboration between the Federal Government and the states in advancing Nigeria’s industrialisation, trade expansion, investment promotion and employment agenda.

    “Closer collaboration between the Federal Government and the states will enable Nigeria to maximise the opportunities presented by the AfCFTA, while regular knowledge-sharing sessions will improve coordination on trade and investment initiatives,” Oduwole said.

    The minister described the AfCFTA as a key pillar of President Bola Ahmed Tinubu’s economic diversification strategy, aimed at expanding market access, strengthening regional value chains and enhancing Nigeria’s competitiveness across Africa.

    She disclosed that the ministry had commenced nationwide AfCFTA sensitisation and capacity-building tours, beginning with the North-West in Kano State, to prepare Nigerian businesses for emerging continental trade opportunities.

    According to her, the initiative brings together relevant government agencies and private sector stakeholders to equip businesses with the knowledge, skills and tools required to participate effectively in cross-border trade.

    “Every state and local government has exportable products capable of integrating into regional and continental value chains,” she said, urging sub-national governments to identify and promote sectors where they possess comparative advantages.

    Oduwole also announced that Nigeria would host the Creative Africa Nexus (CANEX) and the Intra-African Trade Fair (IATF) in Lagos in November 2027, describing the events as major opportunities to showcase Nigerian businesses to the rest of the continent.

    She urged state governments to mobilise manufacturers, exporters, investors and creative entrepreneurs to maximise the opportunities presented by the continental events.

    The minister further disclosed that Nigeria would assume the chairmanship of the AfCFTA Council of Ministers, positioning the country to lead key continental trade committees over the next year.

    She called for sustained collaboration among the Federal Government, state governments and the private sector to advance trade, industrialisation and economic prosperity across Nigeria and the African continent.

    Minister of State for Industry, Senator John Enoh, said the ministry remained central to achieving Nigeria’s economic diversification agenda through industrial growth and value addition.

    Enoh stressed the importance of stronger collaboration with state governments, noting that most industrial parks, manufacturing hubs and economic clusters are located within the states.

    He said the Federal Government had introduced a National Industrial Policy and was working closely with state governments to implement industrial clusters, investment promotion programmes and value-addition initiatives nationwide.

    Speaking on behalf of the state commissioners, Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folashade Ambrose-Medebem, commended the ministers for fostering stronger federal-state collaboration to drive economic growth.

    She said the engagement would deepen policy coordination, align development programmes with the Renewed Hope Agenda and strengthen enterprise development across the country.

    Ambrose-Medebem noted that preparations for CANEX and the Intra-African Trade Fair required deliberate coordination among all levels of government, pledging the support of state commissioners to position Nigeria as Africa’s leading trade and investment destination.

    Also speaking, the Permanent Secretary of the ministry, Dr Chris Isokpunwu, described the engagement as a demonstration of the shared commitment of both federal and state governments to industrialisation, trade expansion, investment promotion and job creation.

    He said sustainable economic transformation could only be achieved through effective collaboration that translates national policies into tangible benefits for businesses and citizens.

    According to him, the ministry’s priorities include expanding exports, accelerating industrialisation, increasing trade volumes and creating sustainable employment through coordinated policy implementation.

    Isokpunwu also urged the commissioners to actively participate in the 17th National Council on Industry scheduled to hold in Enugu, describing it as an important platform for strengthening policy coordination and improving Nigeria’s industrial competitiveness.

  • Oluremi Tinubu commissions North-West Community Food Bank in Jigawa

    Oluremi Tinubu commissions North-West Community Food Bank in Jigawa

    DUTSE, Nigeria (NPA) — Nigeria’s First Lady, Senator Oluremi Tinubu, on Monday commissioned the National Community Food Bank for the North-West in Jigawa State as part of efforts to strengthen food security and support vulnerable households across the region.

    The commissioning ceremony was attended by Katsina State Governor Dikko Radda, who described the initiative as a landmark intervention that would enhance food security and improve the well-being of Nigerians.

    In a statement after the event, Radda said he joined the First Lady for the inauguration of the food bank and other projects aimed at improving healthcare, education and infrastructure in the North-West.

    “Earlier today in Jigawa State, I joined Her Excellency, the First Lady of the Federal Republic of Nigeria, Senator Oluremi Tinubu, for the commissioning of the National Community Food Bank (North-West) and other landmark projects that will strengthen food security, healthcare, education and infrastructure across our region,” he said.

    The governor described the National Community Food Bank as a pioneering initiative that reflects compassion, visionary leadership and a commitment to supporting vulnerable Nigerians.

    “I commend Her Excellency for championing this historic intervention, which will significantly enhance food security and improve the wellbeing of our people,” Radda said.

    He also expressed appreciation to President Bola Ahmed Tinubu for what he described as courageous reforms and steadfast leadership aimed at repositioning Nigeria for sustainable economic growth and shared prosperity.

    Radda congratulated Jigawa State Governor Umar Namadi on what he called the remarkable development strides being recorded in the state, noting that the projects inaugurated during the visit reflected purposeful leadership and a commitment to delivering the dividends of democracy.

    As Chairman of the North-West Governors’ Forum, Radda reaffirmed the commitment of governors in the region to deepen collaboration in advancing food security, quality healthcare, education and inclusive development.

    “We remain committed to working together in advancing food security, quality healthcare, education and inclusive development for the benefit of our people,” he said.

  • JUST IN: Umo Eno hails Ibom Air’s Uyo-Accra flights, reaffirms commitment to human capital development

    JUST IN: Umo Eno hails Ibom Air’s Uyo-Accra flights, reaffirms commitment to human capital development

    UYO, Nigeria (NPA) — Akwa Ibom State Governor Umo Eno has hailed the commencement of Ibom Air’s scheduled commercial international flights between Uyo and Accra, describing the development as a major milestone for the state’s aviation, tourism and economic growth.

    The governor, who was aboard the inaugural flight from the recently upgraded Victor Attah International Airport to Ghana’s capital, said the launch fulfilled his administration’s promise to commence international flight operations before the end of June.

    “I am delighted to join Ibom Air on the commencement of its scheduled commercial international flights between Uyo and Accra, fulfilling the promise we made to Akwa Ibom people before the end of June,” Eno said in a statement on Monday.

    According to the governor, the new international route will strengthen regional connectivity while opening fresh opportunities for tourism, trade, investment and economic development.

    “This milestone opens new opportunities for tourism, trade, investment and regional connectivity while strengthening Akwa Ibom’s position as a growing aviation hub,” he said.

    Eno also reiterated his administration’s commitment to investing in human capital, revealing that one of the pilots on the inaugural flight was among the young Akwa Ibom indigenes sponsored by the state government for professional pilot training.

    “This is another reminder that investing in our people is as important as investing in infrastructure,” he said.

    The governor noted that the achievement reflects his administration’s strategy of combining infrastructure development with investments in education, skills acquisition and professional capacity building.

    The commencement of the Uyo-Accra service comes days after the Federal Government upgraded the Victor Attah Airport to international status.

    Newpost Africa reports that Eno expressed appreciation to President Bola Ahmed Tinubu for approving the airport’s international designation, describing the decision as a significant boost to Akwa Ibom’s economic and aviation aspirations.

    He also commended the Minister of Aviation and Aerospace Development, Festus Keyamo, for his support and collaboration in achieving the milestone.

    “Your dedication, cooperation and shared vision have been instrumental in the progress recorded within the aviation sector,” the governor said.

  • Tinubu commissions rehabilitated Karu roads, says project will ease congestion, boost economy

    Tinubu commissions rehabilitated Karu roads, says project will ease congestion, boost economy

    ABUJA, Nigeria (NPA) — President Bola Ahmed Tinubu on Monday commissioned the rehabilitated and expanded road network from the Karu Interchange to the Customs Clinic Junction and adjoining roads in the Federal Capital Territory (FCT), describing the project as a key step toward easing urban congestion and improving the quality of life of residents.

    The commissioning came one week after the President inaugurated the Karu Satellite Town Water Supply Network in the same area.

    Represented by Vice President Kashim Shettima, Tinubu said the road project reflects his administration’s commitment to delivering infrastructure that directly impacts the lives of Nigerians.

    He said the rehabilitation and expansion of the roads would not only improve transportation but also stimulate economic activities in the area.

    “By expanding and rehabilitating these roads, we are not just laying asphalt; we are injecting life back into the local economy,” the President said.

    Tinubu recalled that upon assuming office in 2023, his administration recognised the need to prioritise infrastructure development in communities where Nigerians live, work and commute.

    “When we assumed office in 2023, we recognised that true development must reach where the people actually live, work and commute.

    “Indeed, this project stands as a clear testament to our promise to resolve urban congestion and uplift the living standards of our people. It is a direct product of our Renewed Hope Agenda in action,” he said.

    The President said the project forms part of the Federal Government’s broader commitment to improving transportation infrastructure, enhancing connectivity and supporting economic growth across the country.

    He reaffirmed his administration’s resolve to continue investing in critical infrastructure aimed at improving mobility, reducing travel time and creating a more conducive environment for businesses and residents.

  • Abiodun commissions Gao-Ibiade Road, unveils plans for more infrastructure in Ogun Waterside

    Abiodun commissions Gao-Ibiade Road, unveils plans for more infrastructure in Ogun Waterside

    ABEOKUTA, Nigeria (NPA) — Ogun State Governor, Prince Dapo Abiodun, has commissioned the reconstructed Gao-Ibiade Road in the Ogun Waterside Local Government Area, describing the project as a major step towards unlocking the area’s economic potential.

    In a statement issued on Friday, Abiodun said the road forms part of his administration’s commitment to expanding infrastructure and positioning Ogun Waterside for sustainable economic growth.

    He noted that the reconstruction aligns with plans to revive the Olokola Liquefied Natural Gas (OKLNG) project, alongside other strategic investments, including the proposed Ogun Deep Sea Port, oil exploration activities, a refinery, a naval base and a dockyard.

    According to the governor, the projects are expected to transform Ogun Waterside into a major industrial, maritime and logistics hub.

    Abiodun also announced that the reconstruction of the J4-Gao-Abigi Road would commence soon to improve connectivity and support the anticipated expansion of economic activities in the coastal axis.

    “Our administration remains committed to ensuring that every part of Ogun State benefits from purposeful infrastructure development as we continue to build a stronger, more prosperous and globally competitive Ogun State,” he said.

  • Mbah hails 30-year concession of Enugu Airport, says deal will boost regional economy

    Mbah hails 30-year concession of Enugu Airport, says deal will boost regional economy

    ENUGU, Nigeria (NPA) — Enugu State Governor Peter Mbah has described the concession of the Akanu Ibiam International Airport to Aero Alliance Limited as a landmark achievement that will accelerate economic growth, attract investment and strengthen the South-East’s position as a major commercial hub.

    The Federal Government formally handed over the airport to Aero Alliance Limited on Thursday under a 30-year Public-Private Partnership (PPP) concession.

    The handover ceremony, held at the airport’s new terminal, was performed by the Minister of Aviation and Aerospace Development, Festus Keyamo, in the presence of aviation stakeholders, government officials and representatives of the concessionaire.

    Reacting to the development, Mbah described the occasion as a proud moment for Enugu State and the wider South-East region.

    “Today is a proud day for me and for Ndi Enugu,” the governor said in a statement issued on Thursday.

    “The Akanu Ibiam International Airport is more than a gateway to the South-East. It is a catalyst for commerce, connectivity, investment and economic growth.”

    He said the commencement of Aero Alliance Limited’s stewardship of the airport marked a significant milestone after more than two decades of efforts to secure a private concessionaire for the facility.

    According to Mbah, the 30-year concession will unlock greater economic opportunities, improve airport operations and reinforce Enugu’s position as a leading destination for business, tourism and investment.

    “As we continue to build strategic partnerships and invest in critical infrastructure, our focus remains clear: creating a more connected, competitive and prosperous future for our people,” he said.

    Industry analysts say the concession is expected to attract fresh investment, modernise airport infrastructure and improve service delivery, enhancing the airport’s status as an international gateway.

    The development also aligns with the Enugu State Government’s broader aviation strategy, which includes plans to commence direct cargo flight operations between Enugu and Guangzhou, China, later this year to boost trade, exports and regional economic integration.

  • JUST IN: Aiyedatiwa inaugurates committee to revive Olokola Free Trade Zone

    JUST IN: Aiyedatiwa inaugurates committee to revive Olokola Free Trade Zone

    AKURE, Nigeria (NPA) — Ondo State Governor Lucky Aiyedatiwa has inaugurated a Technical Committee on the Olokola Free Trade Zone (OKFTZ), charging it to fast-track the revival of the long-delayed project and position the state as a leading destination for industrial investment in Africa.

    The governor said the committee would address critical legal, technical, infrastructural and community-related issues necessary for the reactivation of the project.

    In a statement issued on Monday, Aiyedatiwa described the inauguration as a decisive step towards unlocking the economic potential of the Olokola corridor.

    “For nearly two decades, the enormous potential of the Olokola corridor has remained largely untapped. Yet, our coastline holds immense opportunities for industrial growth, maritime development, investment attraction and job creation,” he said.

    The governor welcomed renewed interest by the Dangote Group in developing what is projected to become Nigeria’s largest industrial and free trade hub at Olokola.

    “With renewed interest from the Dangote Group, our administration is determined to ensure that all legal, technical, infrastructural and community-related issues are addressed with urgency and transparency,” he added.

    Aiyedatiwa said the committee had been given a clear mandate to accelerate processes required for the project’s revival and attract local and international investors to the state.

    According to him, the vision is to develop a world-class industrial ecosystem supported by modern infrastructure, independent energy solutions, efficient logistics and a business-friendly environment.

    He urged members of the committee to discharge their responsibilities with patriotism, diligence and integrity.

    “The future of Olokola is not just about infrastructure; it is about jobs, economic prosperity, industrialisation and sustainable development for generations of Ondo State citizens,” the governor said.

    Aiyedatiwa reaffirmed his administration’s commitment to transforming economic opportunities into tangible development and positioning Ondo State as a premier destination for investment and economic growth.

  • EU unveils €1.1bn transport infrastructure fund to boost connectivity

    EU unveils €1.1bn transport infrastructure fund to boost connectivity

    BRUSSELS, Belgium (NPA) — The European Commission has launched a €1.1 billion call for proposals to modernise and expand transport infrastructure across Europe under the Trans-European Transport Network (TEN-T).

    The funding package, announced under the Connecting Europe Facility (CEF), is the final transport infrastructure call under the European Union’s 2021–2027 long-term budget framework.

    According to the Commission, the initiative will support major transport projects aimed at advancing high-speed rail development, strengthening maritime connectivity and improving military mobility across the bloc.

    The programme also prioritises rail transport, the decarbonisation of maritime operations and the removal of bottlenecks affecting military mobility.

    In addition, funding will support the electrification of road freight transport and airport ground operations, deployment of charging infrastructure in ports and the digitalisation of road transport systems.

    The Commission said the programme aligns with the EU’s industrial maritime and ports strategies, as well as its industrial action plan for the automotive sector.

    Ukraine and Moldova have also been included in the funding scheme, reflecting their growing transport integration with the European Union.

    The CEF serves as the EU’s flagship instrument for financing and implementing transport infrastructure projects under the TEN-T policy.

    The Commission said projects selected under the 2026 call would contribute to the development of smarter, more efficient and sustainable transport networks while enhancing interoperability and resilience across Europe.

    Applications for the funding programme will close on October 6, 2026.

    The Commission noted that the investment is expected to strengthen connectivity, support economic growth and accelerate the transition to greener transport systems across the continent.

  • JUST IN: Umahi urges cement manufacturers to cut prices, backs Tinubu’s infrastructure drive

    JUST IN: Umahi urges cement manufacturers to cut prices, backs Tinubu’s infrastructure drive

    LAGOS, Nigeria (NPA) — Minister of Works, Senator David Umahi, has called on cement manufacturers across Nigeria to reduce the price of cement, saying the rising cost of the commodity is increasing pressure on infrastructure projects and triggering demands for contract variations.

    Umahi made the appeal while delivering a keynote address at the unveiling of the new corporate identity of Lafarge, now rebranded as HBM, a member of the HUAXIN Group, in Lagos.

    The minister said the Federal Government would begin engagements with cement manufacturers from July 1 to address concerns over pricing.

    “I want to insist that Lafarge, now HBM, and other cement manufacturers should reduce their prices,” Umahi said.

    “We shall be engaging on this from July 1. Cement manufacturers must reduce their prices because contractors are pressuring us to review their contracts. But nobody is reviewing anybody’s contract. It is the manufacturers that should review their costs.”

    According to him, the administration of President Bola Ahmed Tinubu is making significant investments in critical infrastructure nationwide, creating vast opportunities for manufacturers and investors.

    Umahi urged HBM and other industry players to expand production capacity to meet growing demand arising from ongoing infrastructure projects.

    He commended the company for its transition and renewed commitment to the Nigerian market, assuring it of the Federal Government’s support.

    “The market is smaller than what the President is doing. Expand your capacity because opportunities are enormous,” he said.

    The minister also highlighted major infrastructure projects being executed under the Renewed Hope Agenda, citing the Lagos-Calabar Coastal Highway as evidence of the administration’s commitment to national development.

    According to him, the project has attracted international attention because of its scale and quality.

    “When international evaluators visited the project, they acknowledged its quality and significance. The project continues to draw interest from neighbouring countries,” Umahi said.

    He expressed confidence in President Tinubu’s vision for the country, describing the administration’s economic and infrastructure agenda as achievable and transformative.

    “I want to thank President Bola Ahmed Tinubu for his leadership. The President is committed to repositioning this country, and we remain on course to deliver the vision for the benefit of Nigerians,” he added.

  • Flight between Enugu and Guangzhou to begin December, says Mbah

    Flight between Enugu and Guangzhou to begin December, says Mbah

    ENUGU, Nigeria (NPA) — Enugu State Governor Peter Mbah has reaffirmed his administration’s vision to transform Enugu into a leading aviation and logistics hub in West Africa, following plans to commence direct cargo flights between Enugu and Guangzhou, China, by December 2026.

    Mbah said the initiative, being pursued in collaboration with the Federal Government and other stakeholders, would unlock new trade opportunities for businesses across the South-East and strengthen the region’s position in global commerce.

    “What began as a vision to transform Enugu into a premier aviation and logistics hub is steadily becoming reality,” the governor said.

    “Working closely with the Federal Government and our partners, we are advancing plans to commence direct cargo flights between Enugu and Guangzhou, China, by December.”

    According to him, the new route will ease logistics challenges, improve supply chains and create faster access to international markets for businesses in the region.

    “This strategic connection will open new trade opportunities for businesses across the South-East, reduce logistics bottlenecks and strengthen our region’s position in global commerce,” Mbah added.

    The governor said the initiative forms part of broader efforts by his administration to build critical infrastructure that supports enterprise, attracts investment, creates jobs and accelerates economic growth.

    He cited the recent launch of Enugu Air and the ongoing upgrade of the Akanu Ibiam International Airport as key components of the state’s long-term economic transformation strategy.

    Earlier, the Minister of Aviation and Aerospace Development, Festus Keyamo, disclosed that the Federal Government and Enugu State were finalising arrangements for the commencement of direct cargo flight operations between Enugu and Guangzhou.

    According to the minister, the service will enable South-East traders and importers to consolidate shipments in China and transport them directly into Enugu, significantly reducing delivery times and logistics costs.

    “Just two days ago, the Enugu governor and I were actively negotiating the first direct cargo flight from Guangzhou, China, straight into Enugu. We are targeting December for the maiden flight,” Keyamo said.

    “This will allow our South-East merchants and traders in China to consolidate their goods into unified cargo accounts twice a week, flying straight into Enugu for seamless delivery to commercial hubs such as Onitsha and Aba.”

    The initiative is expected to boost trade activities, enhance cargo handling capacity at the Akanu Ibiam International Airport and further position Enugu as a major gateway for commerce and investment in the South-East.