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Kwara Secures $56m Chinese Investment

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governor-ahmed suit

Just like President Muhammadu Buhari’s recent successful investment drive to China, the Kwara State Government has secured a $56m Chinese investment for the establishment of a textile industrial park in the state.

The State Governor, Alhaji Abdulfatah Ahmed finalized the investment during his current investment trip to East China.

The agreement for the establishment of Kwara Chitex Industrial Park was signed between the Governor Abdulfatah Ahmed and Mr. Shi Zengchao, Managing Director, of Ningbo Jinsheng Star Import and Export Co Ltd. at the The 18th China Zheijand Investment and Trade Symposium, held in Ningbo, East China over the weekend.

The signing, which was part of the Ningbo Major Investment Projects Signing Ceremony organized by the Ningbo Municipal People’s Govt, involved a total of $3.7b worth of investments in 31 projects out of which $1.4b was for outbound investments with The Kwara Chitex Industrial Park being the only Nigerian bound.

Speaking after the signing, Governor Abdulfatah Ahmed expressed delight about the multi million dollar project, which is expected to commence within soon, stressing that the State is focusing on manufacturing to stimulate its economy and create jobs. According to the Governor, the Kwara Chitex Textile Industrial Park is expected to create 3000 jobs when operational.

‘We are looking for investors especially in the area of manufacturing. We have a very youthful population which shows there is a strong workforce that can support industrialization. There are opportunities in textiles, agriculture, mining and other areas. The potentials are huge’, he said.

Providing further details of the deal, Governor Ahmed’s Chief Economic Assistant and DG of the state PPP Office, Mr. Abayomi Ogunsola said the deal involves the state government providing up to N1b in counterpart funding and 400 hectares of land as well as infrastructure support.

Governor Ahmed also held preliminary talks with potential investors in agribusiness and Agro allied industries, and offered them incentives such as tax relief and accelerated land acquisition.

BIG STORY

JUST IN: 92-Year-Old Paul Biya Secures Eighth Term As President Of Cameroon

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The Constitutional Council of Cameroon has officially declared 92-year-old Paul Biya the winner of the country’s October 12 presidential election, extending his decades-long rule.

Biya, in office since 1982, secured a fresh seven-year mandate after polling 53.66 percent of the vote. His closest rival, 76-year-old Issa Tchiroma Bakary, a former government spokesperson, came second with 35.19 percent.

With this victory, Biya begins his eighth consecutive term and is set to remain in office until at least 2032, by which time he will be nearly 100 years old.

The result cements his position as the world’s oldest serving head of state and one of the longest-ruling leaders globally.

Opposition parties and civil society groups have questioned the credibility of the election, citing reports of irregularities and security incidents, including gunfire near Tchiroma’s home in Garoua.

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Former PUNCH Editor Dayo Oketola Set To Be Named Spokesman To New INEC Chairman Amupitan

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A former Editor of The PUNCH newspapers, Mr. Dayo Oketola, is set to be named as the spokesman to the newly appointed Chairman of the Independent National Electoral Commission, Prof Joash Ojo Amupitan.

Oketola is to replace Rotimi Oyekanmi, who served under the previous INEC Chairman, Mahmood Yakubu.

A multiple-award-winning journalist, Oketola brings nearly two decades of experience in news, business journalism and editorial leadership. He previously served as News Editor and Business Editor at The Punch, and more recently as its Editor, where he led the newspaper to win the Newspaper of the Year award at the 2023 Nigeria Media Merit Awards (NMMA).

Shortly after his inauguration, Amupitan reaffirmed his commitment to restoring public confidence in elections, saying the success of INEC depends on teamwork, accountability and ensuring every voter’s confidence that their vote counts.

Oketola’s appointment is seen as part of the commission’s broader communication and public engagement strategy as it enters a new phase under Amupitan’s leadership.

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BIG STORY

Lagos Former LG Chairperson Left N20m After Receiving N512m Three Days To End Of Tenure — Hotel, House Traced To Her

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A former chairperson of a Local Council Development Area (LCDA) in Lagos State has been accused of spending about ₦492 million within 72 hours, leaving only ₦20 million in the council’s account — just three days before her tenure ended.

The allegation was detailed in a report cited by Lanre Adewole, a senior editor with Tribune Newspapers, in his column published on Sunday.

According to Adewole, the report — which was submitted to the Speaker of the Lagos State House of Assembly, Rt. Hon. Mudashiru Obasa — formed part of discussions during a recent meeting between the legislators and council chairpersons in the state.

The report alleged that the former LCDA boss received ₦512 million as federal allocation for her final month in office and expended almost the entire amount before handing over.

“It was three days to her exit. By the time the new man took over, ₦492 million had disappeared,” Adewole wrote.
“She spent ₦492 million in 72 hours, leaving behind a paltry ₦20 million for her successor.”

The report also claimed that seven councillors who served with the former chairperson received ₦1 million each, while supervisory councillors were allegedly given “parting gifts” running into millions of naira.

Between January and July 2025, the LCDA was said to have received a total of ₦4.8 billion in allocations.

In addition, the report linked the ex-chairperson to the ownership of a multi-million-naira hotel in Osogbo, Osun State, and a property in Magodo GRA Phase 2, Lagos, both of which are reportedly under scrutiny.

Quoting excerpts from the submission to the Speaker, Adewole wrote that the document described a “disturbing pattern” of alleged looting among some immediate past and newly elected local government chairmen in Lagos State.

“The brazen mismanagement of public funds by immediate past and newly elected Local Government chairmen in Lagos State is unparalleled by any Local Government in Nigeria,” the report stated.
“There is a formula ratio of 30% to the management staff from payment made from the LG accounts — tagged as ‘RUN’ — plus another 5% for retirement.”

The document further alleged that some senior council officials pay between ₦5 million and ₦20 million to secure postings, while also remitting monthly premiums of about ₦2.5 million to maintain their positions.

The report also mentioned that one former chairman allegedly diverted over ₦2 billion into private property development, while another reportedly embarked on lavish foreign trips to London, Saudi Arabia, and Dubai “under the guise of official duties.”

It added that despite warnings from Speaker Obasa, some immediate past council chairmen allegedly continue to control council accounts and award contracts to themselves through proxy arrangements.

The document called on Governor Babajide Sanwo-Olu to order a full forensic audit of all local councils and LCDAs, recover misappropriated funds, and sanction any indicted officials.

“Lagosians demand accountability, not luxury junkets funded by their sweat,” the report stated.
“Failure to address this crisis risks normalizing corruption and crippling local governance.”

Officials of the Lagos State Government were yet to respond to the allegations as of press time.

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