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We’re getting there, Tinubu enthuses, as Nigerian, German firms sign $500million electricity deal
The burgeoning economic partnership between the Federal Republic of Nigeria and the Federal Republic of Germany witnessed further expansion and strengthening as two important agreements were signed between Nigerian and German businesses on Tuesday.
A visibly elated President Bola Tinubu, while speaking in Berlin, Germany, at the 10th German-Nigerian Business Forum, who assured that with a resilient democracy, Nigeria is well primed to attract foreign direct investments, as he witnessed the signing of two Memoranda of Understanding (MoU) – one on the supply of gas from Nigeria to Germany and another for $500 million worth of renewable energy projects in Nigeria.
The signing of MoUs was between Riverside Liquified Natural Gas (LNG) of Nigeria and Johannes Schuetze Energy Import AG of Germany on the gas export partnership, while the other signed pact brought together Union Bank of Nigeria and DWS Group on cooperation in renewable energy.
Chief Executive Officer (CEO) of GasInvest, David Ige, who signed the MoU on gas supply, said the Riverside LNG project aimed to supply energy from Nigeria to Germany, extinguishing about 50 million cubic feet per day of flared gas in Nigeria.
”The project will supply energy from Nigeria to Germany at 850,000 tonnes per annum, expanding to 1.2 million tonnes per annum. The first gas will leave Nigeria for Germany in 2026, and there will be further expansion. This will extinguish about 50 million cubic feet per day of flared gas in Nigeria and open alleyways of new and greater exports of gas to Germany,’’ he said.
Expressing confidence in investing in Nigeria’s gas sector, Chief Operating Officer (COO) of Johannes Schuetze Energy Import AG, . Frank Otto described the partnership as a “big deal” for the German market, while Chairman of Union Bank, Farouk Gumel disclosed the commitment of $500 million for e-energy projects in Nigeria, emphasising the importance of rural inclusion and bringing more people into the formal economy.
”We believe this would bring rural inclusion and capture more people into the formal economy. Without inclusion, there is no growth. Thank you, Mr. President,” Mr. Gumel said.
Welcoming the new deals, Tinubu, who assured German businesses that with Nigeria’s stable political landscape, foreign investments into the country are secure, said: ”Since 1999, we have witnessed changes in democratic governance, with peaceful transfers of power within and between parties. Democracy in Nigeria has proven to be flexible and resilient. Shake off any remnants of the military era syndrome; we have moved beyond that. Despite challenges faced by other African nations, Nigeria stands firm, and we are your partners.”
Outlining some of the achievements of his administration, which include his globally-acclaimed economic reforms, the President emphasised his commitment to sustaining the reforms and building stronger Nigerian-German relations.
His words: ”For those who feared various obstacles; look at me—I come from the private sector, trained by Deloitte. I served as the treasurer in Exxon Mobil. Define corporate governance in any way, and I am in it. I governed Lagos for eight consecutive years. Today, I can proudly beat my chest that Lagos state is on the horizon and the fifth-largest economy in Africa, rising from ground zero. This is the track record that led me to the presidency.
”Nigerians voted for me for reforms, and from day one of my inauguration, I implemented the reforms. My inaugural speech did not disclose what I would do. I removed the fuel subsidy that is a great burden to Nigerians from the moment I stepped into office.
”The arbitrage regime is gone forever. Now, you can bring your money in and out as you wish. If you encounter any problems, rest assured that I have built one of the most reliable teams Nigeria has seen to address them. I appeal to you to forget the past and focus on building a relationship that removes obstacles, fostering progress and prosperity in Nigerian-German relations. You can rely on us; we can rely on you; both of us can chorus Hallelujah at the same time.”
Afenifere, the pan-Yoruba socio-cultural organisation, seems to find merit in the damning verdict of the US Commission on International Religious Freedom (USCIRF), accusing security agencies in Nigeria of complicity in the deluge of terrorist attacks in the country.
Jare Ajayi, National Secretary of the group, in agreeing with the position, posited on Wednesday: “This is because of the strong belief that the nature of terrorism bedeviling Nigeria would not be festering for this long without complicity from some powerful quarters.”
Though he acknowledged the determination of some patriotic operatives and government to stem the tide, he posited how difficult it was to believe that the activities of the terrorists would continue to thrive without active connivance.
Hear him: “With the vows by the President and top security officers, one has the feeling that the government is determined to end terrorism in Nigeria. When President Bola Tinubu appointed General Christopher Musa, (retd), as Minister of Defence, we had a lot of hope that within months, a total stop would be put to terrorism and banditry in the country.
“Unfortunately, there seems to be a spike, rather than reduction. The reason for this could be rooted in sabotage and complicity from within and from without. This tends to buttress the alarm raised by the US Commission.”
Stressing how the organisation been consistently calling the attention of authorities to areas that needed be looked into he maintained that these included politicians, who could be complicit in promoting the urgly situation.
Citing the recent comments by Godswill Akpabio, Senate President, who pointed in the same direction, Ajayi stated that no matter how unpalatable the position of the US body could be: “It is very important not to dismiss it but to use it a beacon with which to comb all areas.”
“Many people doubted us. Some dismissed us. Others predicted confusion, division, and even outright collapse. But you stood firm. You kept faith with the ADC. And today, because of your commitment, our party stands taller, stronger, and more united.”
With these words, David Mark, National Chairman of the African Democratic Congress (ADC) on Wednesday’s night showered praises on members for conducting what he considered a flawless presidential primary election to choose its candidate for the 2027 election.
Mark, Senate President from 2007 to 2015, his audience at the Congress Hall of Transcorp Hilton, Abuja, that by the outcome, the party had demonstrated that democracy and political competition could still thrive in Nigeria without crisis or division.
Regardless of the rejection of the result of the exercise by Rotimi Amaechi, former Minister of Transportation and Mohammed Hayatu-Deen, former Chairman of the Nigerian Economic Summit Group (NESG), who contested in the exercise, the former Chairman of the National Assembly, was still upbeat about its outcome.
Atiku Abubakar, Vice President between 1999 and 2007, had emerged winner of the process that took place across Nigeria from Monday till Wednesday, when the result was eventually announced.
The declared result showed that the former VP who would be running for the nation’s number one job for a record seven times came tops with Atiku 1,846,370, to Amaechi’s 504,117 and Hayat-Deen’s 177,120. Total votes cast in the election: 2,546,457 in the 3,113,599 tally.
Mark, who officially presented the ADC flag to Atiku as the party’s presidential standard-bearer, was emphatic that the exercise was not merely about producing a presidential candidate but about proving that internal democracy could still function effectively in the country.
Hear him: “Today is not just about announcing a presidential candidate. Today is also about proving a point to Nigeria and to Nigerians. It is about proving that democracy can still work.
“Proving that political competition does not have to become political warfare. That a party can organise itself around principles instead of personalities. This event has shown that in a season of deep national anxiety, a bright future is still possible.”
Stressing that had doubted the party’s ability to conduct a peaceful and credible primary, with some predicting division and collapse within the ADC, he praised members of the Presidential Screening Committee and Presidential Primary Election Committee for what he described as their professionalism and commitment to fairness despite pressure surrounding the exercise.
“In the face of enormous pressure, logistical complexity, and intense national attention, they carried out their responsibilities with courage, discipline, and an unwavering commitment to fairness and transparency. The conduct of the primary has strengthened confidence in the party and its democratic process.
“Their work has strengthened the credibility of this exercise and reinforced the confidence of our members and the Nigerian people in the integrity of the African Democratic Congress.
“It is important to mention that we are the only political party to have three strong aspirants contest for the presidential ticket. This alone makes the ADC unique in its deep commitment to democracy and democratic practices.
“By subjecting themselves to this process, they did not merely contest an election. They strengthened democracy. And despite efforts in some quarters to create uncertainty and tension, they remained committed to this process and to the ideals of this party,” he added.
For Nnenna Nnannaya-Oti, the first female Vice-Chancellor of the Federal University of Technology, Owerri (FUTO), it was another day of glory, as Alex Otti, Governor of Abia laid out another red carpet for her in lieu of her starling performance in the 2023 governorship election in the state.
The university don, was the Returning Officer of the Independent National Electoral Commission (INEC), who was nationally recognised for standing her ground against forces that reportedly tried to skew the process, leading to the emergence of Otti as governor.
Since then, she had received several recognitions including from the governor and other bodies, including her own students at FUTO, who gave her a heroic welcome upon the conclusion of her INEC task – the first and only one to be so accorded in Nigeria.
Wednesday’s recognition came through the naming of the newly inaugurated Umuahia Central Bus Terminal, a multimodal transport facility in the state capital after her, by the governor, who said it was in recognition of her role in that exercise.
Otti, who stressed that the decision was informed by her act of courage, integrity and commitment to truth, said: “This terminal has been named after Professor Nnenna Nnannaya-Oti, the courageous INEC returning officer who demonstrated unflinching integrity in the discharge of her duties during a high-stakes election assignment here in Abia.”
The governor, while stating that the honour was not limited to don alone but symbolised all individuals who resisted electoral manipulation added: “In 2023, through her courageous disposition of standing firmly by the truth… she reminded us that ordinary people can achieve extraordinary results by simply saying no.
“So she’s just a representative of all of you—INEC staff who never bent, party officials who didn’t give in, security agencies… people who said no to intimidation.”
Stressing that the state had moved beyond basic infrastructure delivery to building an integrated transport system, he said: “The days of playing small is over. We shall no longer confine ourselves to the margins.”
He explained that the terminal was designed to accommodate over 340 buses and would improve accessibility, safety and efficiency in urban transport operations, adding that it would be supported by electric bus services, with 20 already in operation, while additional units are expected in phases.
“Services will keep improving as more buses are delivered… and you can tell with accuracy when a particular bus will arrive and depart,” he said.
He urged residents to protect the facility and support government efforts by maintaining order and paying taxes, warning against vandalism, waste disposal violations and other practices that could undermine the project, stressing that offenders would face sanctions.
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