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SANWO-OLU:  LAGOS OPEN FOR NEW INVESTMENTS, READY FOR BUSINESS

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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, on Monday reiterated his administration’s commitment to investments from local and international companies, saying Lagos is ready for business and open to new investments.

The Governor spoke during a courtesy visit by the management of the Daewoo Engineering and Construction Nigeria Limited, led by its Group Chairman, Mr. Jung Won Ju, at the Lagos House, Ikeja.

Governor Sanwo-Olu assured investors that his administration will create an enabling environment for investments and businesses to grow in the State. He said the Lagos State Government is ready and willing to partner with Daewoo Engineering and Construction Nigeria Limited in automobile, real estate and technology.

He said: “The relationship between South Korea and Nigeria dates back several decades and we all know how the Daewoo Industry is worldwide. We are aware of your strength and capacity.

Lagos is ready for business and it is open for new investments. I know Daewoo Nigeria has been here for a while but this is an opportunity for you to take that relationship to another level.

“So, on this your visit, don’t let it just be a visit to show; let it be a visit of commitment and real partnership. Let it be a visit where there will be real transactions on the table that both of us can take away.

“We are here to create the enabling environment for investments and businesses to grow. So, whatever you need from our side for your investments within our means, you can be rest assured that we are willing to do it for as long as we see a mutually beneficial relationship.

“Our city is open. We are ready and willing to create that partnership with you in automobile, real estate and technology because we have a very strong and capable youth population that is dynamic. They are very professional and they are ready to work.”

Speaking earlier, Mr. Jung Won Ju, said his company will be investing in real estate and infrastructure in Nigeria, saying Lagos has been identified as one of the major investment areas because Lagos is the economic capital of Nigeria.

Also speaking, the General Manager, Contract and Business Development of Daewoo Engineering and Construction Nigeria Limited, Mr. Adekunle Ilesanmi, commended Lagos State for accommodating a lot of investments and providing an enabling environment for returns on investments.

He said: “We are going to be investing in housing, real estate and infrastructure. Daewoo has over 40 years of commitment in Nigeria. We are trying to increase our investments in the country and Lagos has been identified as one of the major investment areas because Lagos is the economic capital of Nigeria.

“The chairman is willing and has assured Mr. Governor that we will make that commitment in a short time, especially in the real estate and housing.

“It is very commendable to see Lagos State accommodating a lot of investments and giving an enabling environment to all the investors coming in and ensuring that there is a return on investments. That makes Lagos attractive because when you invest here, you are sure of a return on your investment. The government is going to support you to be able to have a return on your investment.”

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Tinubu Renames Federal University of Medical Sciences, Azare, After Late Islamic Scholar Sheikh Dahiru Usman Bauchi

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President Bola Ahmed Tinubu has approved the renaming of the Federal University of Medical Sciences, Azare, Bauchi State, in honour of the late renowned Islamic scholar, Sheikh Dahiru Usman Bauchi.

The President announced the decision on Saturday during a condolence visit to the family of the revered cleric at his country home in Bauchi State. According to Tinubu, the renaming is aimed at immortalising the scholar’s enduring legacy and his immense contributions to humanity, religious scholarship, and peaceful coexistence.

“From today onward, I announce this change of name to immortalise him. The Federal University of Medical Sciences, Azare, Bauchi State, will from today be known as Sheikh Dahiru Usman Bauchi University. May God bless his memory,” the President declared.

Describing the passing of the cleric as a “great national loss,” Tinubu said Sheikh Dahiru Bauchi lived a life defined by humility, selfless service, and unwavering dedication to the propagation of Islam, peace, and moral values across communities.

He prayed for Allah’s mercy upon the soul of the late scholar and asked that he be granted Aljannatul Firdaus. The President also prayed for strength and comfort for the family, the government, and the people of Bauchi State, urging Nigerians to continue to pray for peace, unity, and national harmony.

Speaking on behalf of the family, the eldest son of the late cleric, Sheikh Ibrahim Usman Bauchi, expressed profound gratitude to the President for the condolence visit, prayers, and the honour bestowed on their father. He also thanked Bala Mohammed, Governor of Bauchi State, for his consistent support to the family.

In his remarks, Governor Mohammed commended the President for honouring the family and Bauchi State, describing the gesture as a fitting recognition of Sheikh Dahiru Bauchi’s lifelong commitment to faith, education, and national unity. He noted that the late scholar’s influence transcended Bauchi and Nigeria, touching lives across generations.

The President was accompanied on the visit by the Speaker of the House of Representatives, Tajudeen Abbas; the Governor of Yobe State, Mai Mala Buni; and Seyi Tinubu, among other top government officials.

Tinubu arrived at the Sir Abubakar Tafawa Balewa International Airport, Bauchi, at about 4:09 p.m., where he was received with a guard of honour by the Nigerian Air Force. He was welcomed by Governor Bala Mohammed; the Governor of Plateau State, Caleb Mutfwang; the Coordinating Minister of Health and Social Welfare, Ali Pate; the Minister of Foreign Affairs, Yusuf Tuggar; and the Senator representing Bauchi South Senatorial District, Shehu Buba.

The condolence visit formed part of the President’s broader engagements to commiserate with the family and followers of the late Islamic scholar, whose influence and contributions to Islamic learning and spiritual leadership spanned decades across Nigeria and beyond.

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Tinubu Begins Multi-State Tour, Heads to Borno, Bauchi and Lagos

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President Bola Ahmed Tinubu
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President Bola Ahmed Tinubu is scheduled to depart Abuja on Saturday on a multi-state visit that will take him to Borno State, Bauchi State and Lagos State, as part of official and personal engagements.

The President’s first stop will be Borno State, where he is expected to commission a number of projects executed by the state government under Governor Babagana Zulum, in collaboration with the Federal Government. The projects are part of ongoing efforts to strengthen infrastructure, governance and post-conflict recovery in the North-East.

While in Maiduguri, President Tinubu will also attend the wedding ceremony of Sadeeq Sheriff, son of former Borno State Governor and Senator, Ali Modu Sheriff, and his bride, Hadiza Kam Salem.

From Borno, the President will proceed to Bauchi State for a condolence visit to the state government and the family of Sheikh Dahiru Bauchi, the late Islamic scholar and spiritual leader of the Tijjaniyya Muslim Brotherhood. The revered cleric passed away on November 27, drawing tributes from across Nigeria and beyond for his decades of religious scholarship and leadership.

Following the condolence visit, President Tinubu will travel to Lagos State, where he will spend the end-of-year holidays. During his stay, the President is expected to participate in several engagements, including serving as Guest of Honour at the annual Eyo Festival scheduled for December 27.

The festival, to be held at Tafawa Balewa Square, will honour notable personalities, including President Tinubu’s mother, Alhaja Abibatu Mogaji, as well as former Lagos State governors Lateef Jakande and Michael Otedola.

The trip underscores the President’s blend of official duties, cultural engagements and personal commitments as the year draws to a close.

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Senate Considers Review of 2025 Budget to ₦43.56 Trillion

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***Edun, Bagudu, others to appear before Senate Committee on Appropriations 

The Senate on Wednesday passed for second reading a Bill seeking to repeal and re-enact the 2024/2025 Appropriations Act, a move that would revise the 2025 budget size to ₦43.56 trillion.

Under the proposed expenditure framework, statutory transfers are pegged at ₦1.74 trillion, debt service at ₦8.27 trillion, recurrent (non-debt) expenditure at ₦11.27 trillion, and capital expenditure and development fund contribution at ₦22.28 trillion.

Following the development, the Senate directed the Minister of Finance, Mr. Olawale Edun; the Minister of Budget and National Planning, Senator Atiku Bagudu; and the Chairman of the Federal Inland Revenue Service, Dr. Zacch Adedeji, among others, to appear before the Senate Committee on Appropriations to provide further clarification on the proposed spending plan.

Leading the debate, the Leader of the Senate, Senator Opeyemi Bamidele, said the bill was a structural and reform-driven intervention aimed at repealing and re-enacting the existing appropriation framework to end the practice of running multiple budget cycles concurrently.

According to him, the practice had historically undermined budget clarity, weakened fiscal discipline and blurred accountability across ministries, departments and agencies. He explained that the amendment would provide a clear and orderly appropriation mechanism to lawfully consolidate and regularise expenditures considered critical, time-sensitive and unavoidable, particularly those incurred in response to emergency situations.

Bamidele noted that the proposal balanced responsiveness with fiscal responsibility, ensuring that urgent public spending does not erode legislative oversight or fiscal prudence. He added that the bill would strengthen safeguards requiring that appropriated funds be released and applied strictly for purposes approved by the National Assembly, while virement would only be permitted with prior legislative approval.

He said the provisions reaffirm the legislature’s power over public finance and ensure transparency, accountability and prudent financial management.

After the debate, the Senate, presided over by the Deputy President of the Senate, Senator Barau I. Jibrin, passed the bill to second reading and referred it to the Senate Committee on Appropriations, chaired by Senator Solomon Adeola, with a mandate to report back to plenary within two days.

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