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OUR DOORS ARE OPEN FOR BUSINESS, SANWO-OLU TELLS AMERICAN INVESTORS

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Lagos State Governor, Babajide Sanwo-Olu
Lagos State Governor Babajide Sanwo-Olu
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Lagos State Governor, Mr. Babajide Sanwo-Olu has described Africa as the next destination for global business, with Lagos being the convergence point.
He said the economic position of the State, the innovative youth population and the conducive environment provided by the government are what makes Lagos the destination of choice for many investors who have set up businesses in Nigeria.

Sanwo-Olu spoke during a dinner organized by Del-York International in his honour at the Intercontinental Hotel in Washington DC, United States of America on Monday evening, with the theme: investment opportunities in Lagos, Africa’s largest economy.

The governor listed technology, infrastructure, renewable energy and entertainment as areas that remain fertile for serious investors to look at, saying that there is a guaranteed return on investments in these for those coming to invest in the State.

Governor Sanwo-Olu, while responding to the questions on security in Nigeria, said Lagos is the most secure State in the country, noting that it is one of the major reasons why investors are looking towards the State, promising the audience that his government will continue to make the State inhabitable for criminal minds.

In his opening remarks, the Chief Executive Officer of Del-York International Mr. Linus Idahosa said there is no other place for investment at this time than Lagos State, given the many infrastructural projects embarked upon by the Babajide Sanwo-Olu administration to create a good and conducive business environment for investors.

He said: “Without any equivocation, Lagos is the best and safest place for investment at this period. I’m saying this not because we have the Governor of the State here but because it is the fact. Lagos is the biggest economic hub of Africa and the government is working to ensure a safe environment for investments.”

Speaking on the change being experienced in Africa, Mr. Steve Hayes, President of Corporate Council on Africa, U.S.A said unlike a few decades ago, Nigeria has started attracting a number of investments from Nigerians living in the United States. He pointed out that this will encourage investors in the real sectors in America to look at the direction of the country.

Other speakers touched on the issues of security and negative perceptions of Nigeria as being portrayed by foreign media, as one of the major factors militating against investment attraction in Nigeria.

On his part, Governor Sanwo-Olu allayed the fears of the investors, urging them to look at the brighter side of the country.

The business dinner, which was moderated by Africa-American broadcaster Williams Armstrong had over forty American investors in attendance.

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Anambra Traditional Rulers Confer ‘Dike Si Mba’ Title On Tinubu

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President Bola Ahmed Tinubu
President Bola Ahmed Tinubu
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President Tinubu crowned ‘Dike Si Mba’ of Anambra by Anambra State Traditional Rulers

Traditional rulers in Anambra State on Thursday conferred a chieftaincy title of ‘Dike Si Mba’ of Anambra on President Bola Tinubu.

The Traditional rulers led by the Chairman of the Anambra State Traditional Rulers Council, Igwe Chidubem Iweka of Obosi, gave the President the title in Awka during his official visit to the state.

‘Dike Si Mba’ loosely translates to ‘Hero from another land’, was given to President Tinubu by the traditional rulers representing all the communities in Anambra State.

Tinubu, who is in Anambra State on official visit, arrived at the Chinua Achebe International Airport in Umueri around 12:15pm, and was received by Governor Chukwuma Soludo, his deputy, Onyeka Ibezim and other government officials.

Tinubu inaugurated Anambra State’s first-ever Government House on Thursday, marking a historic milestone more than 30 years after the state’s creation.

Tinubu also inaugurated several other projects done by the administration of Governor Chukwuma Soludo.

It is the President’s second visit to the South-East this year after visiting Enugu State in January.

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 Nigerian Senate Passes 2 Tax Reform Bills

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The Nigerian Senate has passed two out of the four Tax Reform Bills which are expected to overhaul Nigeria’s tax laws.

The lawmakers approved the bills following the consideration and adoption of the recommendations of the Senate Committee chairman Senator Sani Musa during the committee of the whole

The four key bills are the Joint Revenue Board (Establishment) Bill, 2025, the Nigeria Revenue Service (Establishment) Bill, 2025, the Nigeria Tax Administration Bill, and the Nigeria Tax Bill.

But out of the four, only the Bill to Repeal the Federal Inland Revenue Service Act and enact the Nigeria Revenue Service (Establishment) Bill, 2025 was approved

The second approved bill is the Nigeria Tax Administration Bill which is an Act to provide for the assessment, collection of and accounting for revenue accruing to the federation, federal, states and local governments.

“Prescribe the powers and functions of tax authorities and for related matters”.

Presenting the report, Sani said that the bills sought to reform Nigeria’s tax framework, strengthen institutions and enhance accountability and compliance.

Contributing, Deputy Senate President of Jibrin Barau congratulated the entire Senate and in particular, the Committee on Finance and the Elders Committee for the wisdom and leadership that has been shown in the passage of the bills.

“Initially, there were in disagreements and there were rancors here and there.

“But the Senate, standing on its position as the highest assembly in the land, decided to establish this committee, the Committee of Elders (Special Committee).

“To look at all those areas of contention and hear the views of religious leaders, regional organisations and other stakeholders.”

In his remarks President of the Senate, Godswill disclosed that the remaining two bills will be considered in plenary on Thursday.

He commended the committee on Finance and senators for a thorough job.

“He also expressed gratitude to the group of “elder senators” who collated and deliberated on areas of contention in the Tax Bill through meetings and consultation with dissenting voices.

Akpabio expressed optimism that the tax laws would revolutionalise and optimise tax collection across the country.

He expressed satisfaction that the passage of the bills have dispelled rumours that they were meant to serve the interests of a part of the country, adding that all Nigerians will benefit from them.

 

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Senate Sets Up Committee To Oversee Rivers Administrator

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The Nigerian Senate has constituted an 18-member committee tasked with overseeing the activities of the Sole Administrator of Rivers State, Vice Admiral Ibok-Ete Ibas (rtd.).

This, it said, was in a bid to strengthen transparency and accountability in the state’s governance.

Senate Leader, Senator Opeyemi Bamidele, was named as chairman of the committee.

The announcement was made on Tuesday by the President of the Senate, Senator Godswill Akpabio, during the resumption of plenary.

Akpabio highlighted the importance of the committee’s mandate, stating that its role was critical in ensuring effective legislative oversight in Rivers State.

Akpabio also hinted that the composition of the committee might be subject to review following further consultations.

Other members of the committee include Senators Adamu Aliero, Osita Izunaso, Osita Ngwu, Kaka Shehu, Aminu Abass, Tokunbo Abiru, Adeniyi Adebire, Sani Musa, Simon Lalong, Asuquo Ekpeyong, Adams Oshiomhole, Ireti Kingibe, Onyekachi, Idiat Adebule, Ide Dafinone, and Mohammed, alongside the Clerk of the Senate.

The Senate President charged the committee to commence its oversight duties without delay, stressing the urgency of their assignment.

He also reaffirmed the Senate’s commitment to upholding democratic processes in Rivers State.

 

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