Business
Nigeria is Safe for Investing – Akpabio Assures Foreign Investors

President of the Senate, Godswill Akpabio, on Thursday assured foreign investors of the safety of their investments in Nigeria, just as he restated the commitment of the Federal Government under President Bola Tinubu, to providing conducive business environment for Foreign investors in the country.



Senator Akpabio stated this, in his office while receiving in courtesy, the JAMPUR INTERNATIONAL GROUP FZE, led by the CEO, Mohanmed Shafiq.
According to him, ” I welcome you on behalf of the Senate of the Federal Republic of Nigeria. Nigeria is very safe and ready for investors. I am aware you are already investing in Nigeria in the area of mining, power and trading. Thank you for employing Nigerians in your companies”.
Speaking further, Akpabio noted that the decision of the Federal Government on put in place a single rate for foreign exchange was a deliberate attempt by the government to further assure foreign investors of the safety of their investments anywhere in the country.
“The current administration has been able to normalize our foreign exchange rate by having only one window. Investing in Nigeria is worth the while because of the returns in investments based on our population of over 200 million, and land
” The President is ready to ensure that people get value for their investments, himself being a strong businessman. He has a track record of achievements in Lagos State when he was the governor. Lagos today, has become one of the largest economy in Africa because of the foundation he laid.”
Akpabio assured his visitors of the safety of their investments, saying ” I assure you that the Federal Government will do everything humanly possible to protect your investments by providing security for its citizens and foreign investors. “
Earlier in his speech, Muhammed Shafiq said he was in the Senate to formally congratulate the President of the Senate on his emergence as the Chairman of the National Assembly and to wish him well in office.
” We are here to congratulate you on your election as the President of the Senate and to intimate your on our readiness to continue to partner with the government in the area of mining, agriculture and power.”
Business
Expectations High For Nigeria’s First Policy Ministerial Quarterly Briefing
In May 2025, President Bola Ahmed Tinubu announced the ‘Nigeria First’ policy, a bold assertion of economic sovereignty to reshape Nigeria’s financial priorities.

*Dr Jumoke Oduwole, the Minister of Industry, Trade, and Investment
The first three months of the Federal Government’s “Nigeria First Policy” directive ended with stakeholders expecting Dr Jumoke Oduwole, the Minister of Industry, Trade, and Investment, to update the business community, especially Nigerian manufacturers on how well the Ministries, Departments, and Agencies (MDAs) have complied with the Patronage of quality made in Nigeria products.
In May 2025, President Bola Ahmed Tinubu announced the ‘Nigeria First’ policy, a bold assertion of economic sovereignty to reshape Nigeria’s financial priorities.
This policy emphasises the promotion of domestic goods and services, particularly within government procurement and public sector activities.Its core objectives are to strengthen Nigeria’s local industries, reduce import dependence, and accelerate industrialisation through import substitution.
Following the enthusiasm surrounding the policy, the Minister stated during an appearance on Channels TV that her ministry would conduct quarterly performance evaluations of all MDAs based on their adherence to the Nigeria First Policy, emphasising the importance of buying made-in-Nigeria goods and services.
She noted that compliance with the policy will now be integrated into performance metrics for the President’s Central Coordinating Delivery Unit.
Oduwole asserted, “This compliance will be continuously monitored. As a major player in the economy, the government must lead by example by boosting local production and decreasing reliance on imports.
“She outlined three main areas where the policy will be implemented: focusing on local procurement, ensuring that all local options are considered before exploring foreign alternatives, and improving regulatory and bureaucratic processes to support local enterprises.
The Minister expressed that her ministry’s performance aligns with the President’s directives, with the overarching goal of fostering both domestic and foreign investment to enhance productivity, trade, and export growth.
Business
CPPE Urges Sustained Support for High-Performing Sectors and Targeted Assistance for Sectors in Recession
The sectors currently in recession include air transport, textiles, and coal mining.

•Dr Jumoke Oduwole, Minister of Industry Trade and Investment
The Centre for the Promotion of Private Enterprise (CPPE) has called for ongoing lending support for high-performing sectors of the economy and targeted intervention for sectors currently in recession.
This appeal follows the recently rebased Gross Domestic Product (GDP) figures released by the National Bureau of Statistics (NBS), now based on a new reference year 2019.
The latest GDP data for Quarter 1 of 2025 reveals the following:- 37 sectors recorded growth, though many experienced a slowdown.- 9 sectors contracted, and 3 sectors are in recession.
The top-performing sectors include:- Financial Services: 15.3%- Oil Refining: 11.51%- Transportation: 14.08%- Information and Communication Technology (ICT): 7.4%- Metal Ores: 25%Conversely, the sectors that contracted are:- Livestock: -16.7%- Fishing: -0.21%- Textiles: -1.63%- Coal Mining: -22.3%- Quarry & Minerals: -21.55%- Plastics and Rubber: -3.2%- Iron & Steel: -0.35%- Air Transport: -0.81%.
The sectors currently in recession include air transport, textiles, and coal mining.
Dr. Muda Yusuf, director and CEO of CPPE, emphasised the importance of enhancing productivity in critical areas such as agriculture, manufacturing, and trade.
He stated, “These sectors are essential for economic inclusion, job creation, self-reliance, economic security, and diversification.
However, their growth rates are currently below expectations: agriculture grew by only 0.7%, and manufacturing by 1.7% in Q1 2025.
These sectors require targeted interventions to unlock their full potential and drive sustainable development.”

The Dangote Petroleum Refinery and Petrochemicals has appointed David Bird, the former head of Oman’s Duqm Refinery, as its new Chief Executive Officer.
A report by S&P global on Friday said, Bird heads the refinery’s petroleum and petrochemicals division in a strategic move to overcome production challenges and advance its next wave of expansion.
Effective from July 2025, the former Shell head of operations at its Balau Pokom refinery stepped in as CEO of the Dangote Group’s fuels and petrochemicals business, which commissioned the world’s largest single-train refinery last year.
The CEO participated at the just concluded Dangote Leadership Development Program Graduation Ceremony.
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