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African Union Commission Launches the African Union Foundation
ADDIS ABABA – Dr. Nkosazana Dlamini Zuma, Chairperson of the African Union Commission launched, today, 1st February 2014 the “African Union Foundation” at the Headquarters of the African Union in Addis Ababa, Ethiopia. In attendance were the Deputy Chairperson of the Commission, Mr. Erastus Mwencha, the AU Commissioners, the former Prime Minister of Jamaica, Mr. P.J. Patterson, invited guests and personalities.
Addressing the participants, Dr. Nkosazana stressed that, although the foundation accepts funds from outside donors, there is need to have alternative sources of financing from within Africa so that Africans can claim ownership of the foundation, “we should begin to fund our development ourselves” she said. Ministers of planning and finance have deliberated on the issue but will discuss further in detail in March, she added. Moreover, the issue of domestic and alternative sources of funding has been an intrinsic element of the continent’s commitments of the Pan African values of self-determination, solidarity and self-reliance. The AUC Chairperson called on the participants to act as good will ambassadors to the foundation.
Established by the AU Assembly in May 2013 the African Union Foundation aims to finance African Priorities through voluntary contributions. The Foundation will focus mainly on critical issues in line with agenda 2063. Other priorities that will be funded by the foundation include the development of skills and human resource, women’s empowerment and gender equality, regional integration, youth development and entrepreneurship in Africa. Diversity management is also one of the main issues that will be addressed as it is a very important element for peace and stability.
The Foundation supports and is derived from the African Union vision of “an integrated, people centered and prosperous Africa, at peace with itself and taking its rightful place in the world”. It is created to accommodate voluntary contribution from African private sector, African individuals, Philanthropic organizations, African Diaspora, companies doing business in Africa and any other donations or contributions.
The issue of domestic and alternative sources of funding has been an intrinsic element of the continent’s commitments of the Pan African values of self-determination, solidarity and self-reliance. In this regard, it is deemed necessary for the various players including public, private and civil society to be mobilized to act in partnership to accelerate the pace of integration that has thus far been largely State led.
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LASTMA Alerts Motorists to Traffic Delays on Ogunnusi Road
The Lagos State Traffic Management Authority (LASTMA) has alerted motorists to traffic delays along Ogunnusi Road towards Ojodu-Berger due to ongoing rehabilitation work.
LASTMA disclosed this in a post on its official X account on Sunday, stating that the road rehabilitation was being carried out by the Lagos State Public Works Corporation (LSPWC).
According to the agency, “The ongoing work is affecting traffic flow, with vehicles moving at a slower pace in both directions.”
ALSO READ: Chaos On Lagos-Ibadan Expressway As LASTMA Shuts Otedola Bridge
To ease the situation, LASTMA said a contraflow arrangement had been introduced for motorists travelling from Omole Junction towards Vis Junction.
“A contraflow arrangement is in place for vehicles coming from Omole Junction towards Vis Junction to facilitate the movement of traffic,” the agency stated.
LASTMA added that its personnel had been deployed to manage traffic and ensure the continuous movement of vehicles around the affected area.
“Our personnel are on ground managing the traffic situation and ensuring the continuous flow of vehicular movement,” the agency said.
The traffic management authority advised motorists to remain patient and exercise caution while the rehabilitation work continues.
“Motorists are advised to exercise patience and drive with caution while the rehabilitation work continues,” LASTMA stated.
NEWS
Dangote Investments are Catalysts for Africa’s Economic Growth – AFC
Leading economists, financial experts and industry stakeholders have described the Dangote Group’s investments as major drivers of industrialisation and economic transformation across Nigeria and Africa.
The experts cited the Group’s impact on job creation, import substitution, foreign exchange conservation and economic competitiveness.
They voiced their thoughts at the Lagos Economic Summit themed “The Real Deal: Africa’s Greatest Investment Opportunity,” where they urged governments to implement policies that strengthen local industries and accelerate economic diversification.
President and Chief Executive Officer of the Africa Finance Corporation (AFC), Samaila Zubairu, commended the Dangote Group’s sustained investments across Africa, describing them as critical to unlocking the continent’s economic potential.
He noted that while recent economic reforms have improved foreign exchange stability, strengthened reserves and eased inflationary pressures, the focus must now shift to growth in industry, productivity and employment.
READ ALSO: NMDPRA Shares July Domestic Cooking Gas Supply Details
Also speaking, Chief Executive Officer of the Centre for the Promotion of Private Enterprise (CPPE), Muda Yusuf, said industrialisation remains the most effective path to sustainable economic development.
He called for better alignment of trade and industrial policies, stressing that local manufacturers require strategic support to compete effectively and drive broader economic benefits.
Founder and CEO of Nairametrics, Ugodre Obi-Chukwu, said Africa’s growing population presents a significant industrial opportunity, noting that investments such as the Dangote Refinery are helping to retain capital within the continent while strengthening local production capacity.
In his keynote address, Managing Director of Financial Derivatives Company Limited, Bismarck Rewane, said Nigeria is gradually transitioning from a consumption-led economy to one driven by investment and production.
He added that sustained investments in productive sectors will continue to stimulate growth, create jobs and improve living standards.
Participants at the summit also advocated stronger credit infrastructure, improved national identification systems and increased investment in skills development to enhance the productivity and global competitiveness of Africa’s growing youth population.
Photo Caption: From Left – Chief Economist, Dangote Industries Limited, Dr. Hassan Mahmud; Lady Maiden Alex-Ibru; Chairman of Occasion/Special Guest of Honour, Samaila Zubairu; Key Note Speaker Session 1, Bismarck Rewane; during the Real Deal: Africa’s Greatest Investment Opportunity, Sponsored by Dangote Industry Limited in Lagos on Thursday 3, September 2026.
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VDM Fires Back at Police, Releases First ‘Evidence’ Over Kidnap Claims
Social media critic Martins Vincent Otse, popularly known as VeryDarkMan (VDM), has released what he described as his first piece of evidence after the Nigeria Police Force challenged him to substantiate his allegations that some police officers allegedly collaborate with kidnappers.
VDM released a video on his Instagram handle on Thursday, August 27, 2026, shortly after the police invited him to provide evidence supporting the claims he made at the 66th Annual General Conference of the Nigerian Bar Association (NBA) in Port Harcourt.
SEE MORE: ‘Provide Evidence’ — Police React to VDM’s Explosive Kidnap Allegation
The activist captioned the video: “My evidence number 1.”
Recalled that VDM, who was a panellist at the NBA conference on Tuesday, had alleged that some police officers manning checkpoints along major highways provide kidnappers and bandits with information about travellers.
According to him, the officers allegedly relay details about the identities and movements of travellers to criminal groups, thereby facilitating abductions for ransom.
The allegation triggered a response from the Nigeria Police Force, which denied the claim and challenged VDM to substantiate his allegations.
The police invitation came as the force sought evidence to support the serious claims made by the social media critic.
In response, VDM released the video, describing it as his “evidence number 1”, signalling that he may provide further material to support his allegations.
The development has continued to attract attention, with the controversy placing renewed focus on allegations of possible collaboration between security personnel and criminal groups involved in kidnapping and banditry.





