Nigeria has successfully secured the bid to host the $5 billion African Energy Bank (AEB) headquarters, a global multilateral institution dedicated to financing Africa’s hydrocarbon resources and supporting the continent’s energy transition and net-zero commitments.

The announcement was made by Heineken Lokpobiri, Minister of State for Petroleum Resources, in Abuja on Thursday, following a meeting of the Council of Ministers of the African Petroleum Producers’ Organization and the Afrexim Bank, the joint promoters of the bank.

The hosting of AEB is expected to bring numerous benefits to Nigeria, including boosting the country’s Gross Domestic Product (GDP), enhancing employment opportunities, and strengthening financial architecture and inclusion.

This significant development is anticipated to revolutionize Nigeria’s oil and gas sector, positioning the nation as a pivotal player in Africa’s energy landscape.

More to follow……….. 

With an Abuja High Court ruling, tending to throw the spanner into the works of the Peoples Democratic Party (PDP) for the upcoming Edo State gubernatorial election, by nullifying the nomination of Asue Ighodalo as its candidate, the party has sued for calm.

While declaring total support for Ighodalo’s candidature, the Edo State Chapter of the PDP urged the party faithful to remain winning the main election, despite the ruling nullifying the party’s primary election held in Benin on February 22.

BREAKING: Court Invalidates Ighodalo’s Nomination

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The curtain has been drawn on the lengthy anxiety of citizens and residents of Enugu State on the possibility of the state becoming a ranching ‘guinea pig’.

This is as Governor Peter Mbah announced that he singed into law four bills passed by the Enugu State House of Assembly (EHSA).

Gov Mbah took to his verified official X handle hours ago to make public his signing of the bills, which included, the Enugu State Properties Protection Law, the Enugu State Public Ranch Management Law, the Enugu State Sports Development Fund Law, and the Enugu State Environmental and Climate Protection Law.

Though he asserted that the new laws were “to make our state the best place for investment, business, leisure, and living”, sceptics abound as to the veracity of his assertion.

The public have responded in various ways to the development with many expressing concerns on the new laws, particularly that on grazing.

https://businessday.ng/agriculture/article/establishment-of-cattle-ranches-in-western-nigeria-an-immediate-imperative/

An X user, Theodore Basil, wrote, “Your excellency, let the Law on Ranching be what you said here oooo . Do not give away our lands to Fulani for cattle rearing. They will claim more lands in the future.”

Gov Mbah wrote, “Today, I signed into law a total of four bills recently passed by the Enugu State House of Assembly, all of which aim to make our state the best place for investment, business, leisure, and living.

“They are the Enugu State Properties Protection Law, the Enugu State Public Ranch Management Law, the Enugu State Sports Development Fund Law, and the Enugu State Environmental and Climate Protection Law.

“The Enugu State Properties Protection Law is consistent with our promise to enhance the ease of doing business in our state. People who come to Enugu State to invest in property must be confident that the title document that is issued to them is worth far more than the paper on which it is written. That is why we frown at land grabbers. This law is a strong warning to them. Under the new law, severe and stringent penalties await those involved in such acts.

“The Public Ranch Management Agency Law is a law that has been misunderstood and misrepresented. We have sometimes been accused of surreptitiously attempting to introduce something other than ranching. However, we must put an end to the practice of open grazing, which causes friction between our farmers and herders. Our goal is to see that it ends. In the 21st century, there is no reason we should encourage open grazing of cattle. So, this law is essentially designed to ensure that people act in a civilized manner. We will ensure that there are enough services, such as abattoirs and proper cattle markets, not where people will come and live.

“On the Environmental and Climate Protection Law, we are going beyond lip service to protect our environment. So, today, what we have done today is to set out clear policies and plans for us to protect our environment. We are all aware of the dangers that the depletion of the ozone layer poses to us as a people.

“The Enugu State Sports Development Fund Law would help us build capacity, nurture grassroots talents, promote school sports, and essentially develop our sports sector. We consider sports as more than just a kind of recreation, but as a veritable means through which we can stimulate economic growth. And the bill I signed into law today will assist us in accomplishing this goal.

“I’d want to thank the Honourable Speaker and members of the Enugu State House of Assembly for their hard work in expeditiously passing the four executive bills.”