News
SMDF moves to attract Foreign investors, increase exports, create job opportunities
***Senate promises to support the Fund through appropriate legislation
The Executive Secretary and Chief Executive Officer of the Solid Minerals Development Fund, Fatima Shinkafi, has indicated that the major focus of the fund is to grow it by attracting foreign investment, increasing export proceeds as well as creating jobs for Nigerians
Shinkafi who spoke while addressing journalists after a strategic meeting with the Senate Committee on Solid Minerals, chaired by Senator Sampson Ekong (Akwa Ibom South) said it is sole reason of their partnership with African Finance Corporation.
According to her, SMDF’s partnership with African Finance Corporation (AFC) is to deploy more resources for the generation of more geo scientific-data that will assist investors in making informed decisions on critical minerals.
She said “last year, we signed a key partnership agreement with the African Finance Corporation to fund Greenfield exploration, which is a data driven project that will attract investment into the sector”, adding “we have several artisanal projects as well; 80% of the sector is currently artisanal”
“Our focus is to grow fund to impact and create jobs to mitigate against the current economic situation, to increase forex earnings from exports.
“If we can increase the critical mass of investment and export proceeds, we can increase our Forex and strengthen the naira”.
In his submission, Senator Sampson Ekong who is the Chairman, Senate Committee on Solid minerals highlighted the areas in which the Committee through legislation, will collaborate with SMDF to strengthen the current policy which is guiding Solid Mineral Development Fund and as well perform its oversight function.
Ekong said they are committed to working closely with key players so that they can drive the sector forward. “I have been very clear that God in his benevolence has been very merciful to Nigeria”, adding “we are so richly endowed for our people and for Africa”.
The Akwa Ibom senator said what the committee did was to look at the gaps and see how those gaps can be addressed in terms of the legal framework, policy and its implementation, adding that through the partnership, they are going to “explore areas of collaboration that will lay a strong foundation for growth”.
News
Obidient Movement Denounces Fake Social Media Posts Targeting Senator Datti-Baba Ahmed
The Obidient Movement, led by Dr. Yunusa Tanko, has issued a press statement condemning the circulation of false social media posts attributed to Senator Datti-Baba Ahmed. The fabricated posts, which have gone viral, are described as part of a deliberate smear campaign aimed at damaging the Senator’s reputation.
The movement clarified that Senator Datti-Baba Ahmed does not operate any social media accounts, making all attributed posts entirely baseless. During a recent press conference, the Senator unequivocally dissociated himself from these claims and urged the public to disregard them.
“This is a targeted attempt to tarnish the Senator’s image and credibility,” Dr. Tanko stated.
The Obidient Movement has called on its supporters and the public to remain vigilant and proactive in addressing the issue. They urged people to ignore, counter, and report the false posts whenever they appear.
The statement concluded with an appeal for continued support and collaboration in combating misinformation, reinforcing the movement’s commitment to truth and integrity.
News
Senate Approves President Tinubu’s N1.767 Trillion Loan Request
The Senate has granted approval for a $2.09 billion (N1.767 trillion) loan requested by President Bola Tinubu to address the N9.7 trillion deficit in the N28.7 trillion 2024 budget. The decision was made during Thursday’s plenary, just 48 hours after the request was submitted to the National Assembly.
President Tinubu, in letters to both chambers of the legislature earlier this week, highlighted the importance of the loan for financing key projects and programs critical to national development.
Following the request, the Senate assigned its Committee on Local and Foreign Debts, led by Senator Aliyu Wammako (APC, Sokoto North), to review the proposal. Presenting the committee’s report, Senator Wammako described the loan as vital for implementing the Debt Management Strategy, reducing borrowing costs, extending debt maturity, and bolstering Nigeria’s external reserves.
The committee recommended raising the loan through Eurobonds or similar international financing instruments, subject to market conditions. It also suggested that any excess funds from exchange rate adjustments be directed toward capital projects in 2024 to support infrastructure and economic growth.
The Senate approved the loan unanimously, with no objections raised during deliberations. Deputy Senate President Jibrin Barau, who presided over the session, commended the Wammako-led committee for its swift and thorough handling of the proposal.
This loan approval is part of the government’s broader strategy to bridge fiscal gaps while focusing on developmental priorities and economic stability.
News
Finland Detains Pro-Biafra Agitator Simon Ekpa on Terrorism Charges
Simon Ekpa, a Finland-based pro-Biafra agitator, has been arrested and detained by the Päijät-Häme District Court in Finland on charges of inciting public crimes with terrorist intent.
The alleged offence reportedly occurred in Lahti on August 23, 2021. Finnish authorities apprehended Ekpa on Monday, November 19, marking another chapter in his history of legal confrontations.
A source confirmed Ekpa’s arrest, noting, “He was arrested three days ago. But this is not the first time. He will likely be questioned and released soon.” Ekpa was previously detained in 2023 on suspicion of fundraising fraud but was released the same evening.
The Finnish National Bureau of Investigation (NBI) has also requested the detention of four additional suspects in connection with terrorism-related charges.
Ekpa has gained notoriety for his leadership of a Nigerian separatist group advocating for an independent Biafran state in southeastern Nigeria. Finnish authorities allege that he used social media platforms to coordinate actions that resulted in violence against civilians and authorities in Nigeria.
Detective Chief Inspector Otto Hiltunen of the NBI stated that the investigation focuses on a Finnish citizen of Nigerian descent, born in the 1980s, suspected of public incitement to crimes with terrorist intent.
Meanwhile, the Nigerian government has continued to engage the Finnish government through the European Union (EU) to extradite Ekpa. In August, Nigeria’s Defence Headquarters emphasized the dual approach of diplomatic engagement and sustained military operations against the Indigenous People of Biafra (IPOB) and its armed wing, the Eastern Security Network (ESN).
Director of Defence Media Operations, Major General Edward Buba, reiterated the government’s resolve, saying, “The FG would respond appropriately to the Finnish Government through the EU. On the part of the military, troops would sustain operations against IPOB/ESN.”
Ekpa, who has represented Finland’s National Coalition Party (NCP) in local government, currently serves on Lahti’s public transport committee. Finnish authorities continue to investigate his activities, emphasizing the potential connection between his leadership role in the separatist movement and violent actions in Nigeria.
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