STATE HOUSE PRESS RELEASE
President Bola Tinubu has affirmed Nigeria’s commitment to diligently implement world-leading sustainability reporting standards aimed at unlocking capital investments, transforming business models, and safeguarding the environment in the country.
The President gave the assurance during a meeting on Thursday in Abuja with the International Sustainability Standards Board (ISSB) Chair, Mr. Emmanuel Faber.
The President’s endorsement coincides with the launch of Nigeria’s Adoption Readiness Roadmap by the Financial Reporting Council of Nigeria (FRC), in collaboration with ISSB.
This roadmap aims to guide businesses towards comprehensive sustainability reporting standards.
Highlighting the importance of compliance within the sustainability agenda, President Tinubu pledged that Nigeria would continue to adhere to international standards and expressed readiness to collaborate with ISSB to effectively harness national resources through reformed and reinforced financial management systems.
”As an administration, we are committed to adopting cutting-edge models for financial reporting and process standardization. This applies to environmental regulation, where we are on the verge of significantly reducing the volume of gas flaring in the country. We are more transparent than ever before, and we are doing everything possible to represent the continent in a way that will be beneficial to humanity as a whole,” the President stated.
ISSB Chair, Mr. Emmanuel Faber, while recounting Nigeria’s commitment to sustainability reporting, noted that at COP 27 in Sharm el-Sheikh, Egypt, in 2022, Africa’s largest economy had expressed its intent to be among the earliest adopters of rigorous new standards, which is now a reality.
”I am extremely happy to be in Nigeria as the country announces its Adoption Readiness Roadmap. Nigeria is leading the pack in Africa and around the world, and these standards, which Nigeria is willingly adopting, will unlock sustainable capital inflows through foreign direct investments, promote inclusivity in value chains, and facilitate the decarbonization of the national economy,” Mr. Faber said.
Dr. Rabiu Olowo, the Executive Secretary of the Financial Reporting Council of Nigeria (FRC), explained that Nigeria’s decision to join the global baseline for sustainability reporting marks the country as one of the earliest proponents committed to enhancing the transparency of financial information and business performance through sustainable reporting practices.
”The adoption readiness working group is set to pilot our affairs and roadmap to help us succeed on this journey. We are happy to inform the President that the work of the adoption readiness roadmap is ready, and we have the roadmap for businesses to follow. We have five sets of early adopters, and we have a period for voluntary adoption leading up to 2028 for mandatory adoption of the standards,” Dr. Olowo said.
Chief Ajuri Ngelale
Special Adviser to the President
(Media & Publicity)
March 21, 2024
STATE HOUSE PRESS RELEASE
PRESIDENT TINUBU: WE WILL NOT ALLOW ANYONE TO UNDERMINE OUR SECURITY; KILLERS OF SOLDIERS IN DELTA STATE WILL FACE CERTAIN JUSTICE
President Bola Tinubu says the perpetrators of the killing of soldiers in Delta State will face certain justice, warning that his administration will not tolerate attacks on the military and security infrastructure.
The President, who hosted the leadership of the Senate to a dinner to break the Ramadan fast at the State House on Thursday, said the military will continue to enjoy the support of his administration in neutralizing security threats across the country.
“Our armed forces are working hard, and we will not allow attackers to undermine the integrity and value of our armed forces and its leadership.
“We will continue to encourage and fight for our sovereignty, our individual rights to exist, and we will succeed in banishing poverty from our land,’’ the President stated.
President Tinubu told the leadership of the Senate that the integrity of the National Assembly must remain intact and that his administration will always encourage cooperation for the advancement of the nation.
“I know the arithmetic of the budget and the numbers that I brought to the National Assembly, and I know what numbers came back. I appreciate all of you for the expeditious handling of the budget. Thank you very much.
“Those who are talking about malicious embellishment in the budget; they did not understand the arithmetic and did not refer to the baseline of what I brought. But your integrity is intact.
“I am grateful for what you have been doing. The natural challenge we are facing will be over. On the current economic difficulty, we are about turning the corner. Our revenue has improved. All we have to do is to control expenditure and manage ourselves better.
“Light is at the end of the tunnel, and Nigerians will soon smile again,” the President affirmed.
President Tinubu thanked members of the National Assembly for the speedy attention given to the Student Loan Amendment Bill, urging more tolerance, forgiveness, and charity during Ramadan.
In his remarks, the President of the Senate, Godswill Akpabio thanked the President for hosting the lawmakers, noting that regular interactions would enhance understanding and productive governance.
“We bring you greetings from the 10th senate. We bring you assurances of continuous collaboration because we believe strongly that for us to have two brothers from the National Assembly as President and Vice-President, and even the Chief of Staff as our member, we have no option but to work with you, and to do everything possible for this administration to succeed,’’ the President of the Senate said.
Chief Ajuri Ngelale
Special Adviser to the President
(Media & Publicity)
March 21, 2024
STATE HOUSE PRESS RELEASE
PRESIDENT TINUBU CELEBRATES TOP BUSINESS LEADER, TONY ELUMELU, ON HIS BIRTHDAY
President Bola Tinubu extends his warmest congratulations to Africa’s ingenious business leader, Mr. Tony Onyemaechi Elumelu, CFR, on his birthday, today, March 22, 2024.
The President celebrates the foremost businessman and philanthropist, who chairs Heirs Holdings, Transcorp, United Bank for Africa, and is the founder of The Tony Elumelu Foundation.
Commending Mr. Elumelu for his industry and the uncommon spirit of excellence that governs the entirety of his enterprise, President Tinubu acknowledges the business leader’s streak of genius in driving investments, creating opportunities for Africa’s ebullient youths, and providing them with the support they need to soar.
The President thanks Mr. Elumelu, who was named on Time’s list of 100 most influential people in the world in 2020, for his steadfast trust and faith in the certainty of a greater Nigeria and for always projecting the best of our great nation.
President Tinubu wishes Mr. Elumelu many more years in good health and strength as he persists in his endeavour of contributing substantially to national and continental development.
Chief Ajuri Ngelale
Special Adviser to the President
(Media & Publicity)
March 22, 2024
STATE HOUSE PRESS RELEASE
PRESIDENT TINUBU WELCOMES RELEASE OF KURIGA SCHOOL CHILDREN, SAYS SCHOOLS MUST BE MADE SAFE AND SECURE FOR LEARNING
President Bola Tinubu welcomes the news of the release of the Kuriga school children in Kaduna State and emphasizes the importance of collaboration between the federal government and states for expected outcomes, especially on matters of security.
The President commends the National Security Adviser, the Security Agencies, and the Kaduna State Government for the dispatch and diligence with which they handled this situation, noting that incipient urgency, meticulous attention, and tireless dedication are critical to optimal outcomes in cases of mass abductions.
President Tinubu also welcomes the release of pupils of a Tsangaya school in Sokoto State, commending all the parties to the feat for their valiant effort.
The President assures Nigerians that his administration is deploying detailed strategies to ensure that our schools remain safe sanctuaries of learning, not lairs for wanton abductions.
Chief Ajuri Ngelale
Special Adviser to the President
(Media & Publicity)
March 24, 2024
STAKEHOLDERS PRAISE NATASHA AKPOTI-UDUAGHAN, TACKLE KOGI MONARCHS FOR ALLEGED PLOT TO SCUTTLE AJAOKUTA STEEL COMPANY INVESTIGATION
Stakeholders in the iron and steel sector in Nigeria said the major issue at stake in the sector was the investigation of Ajaokuta Steel and NIOMCO between 2008 to date.
They also said that history would be kind to President Bola Tinubu and Senate President, Chief Godswill Akpabio if they were able to investigate the activities of the moribund companies.
‘’The anti-Natasha Akpoti-Uduaghan move is choreographed by the Government of Kogi State. Those ostensibly leading it are all ciphers, people who do not have the interests of Kogi people at heart. The ongoing efforts by Kogi monarchs to stop the investigation of Ajaokuta Steel Company will fail. There is no substitute for investigation’’ the Chairman of Nigerian Steel and Automotive Industry Forum, Dr Nicholas Okonkwo said in a statement Thursday.
Speaker after speaker at the 4th Ajaokuta Steel Plant Revival Summit held in Abuja disowned the traditional rulers and assured the public that President Bola Tinubu and Senate President, Chief Godswill Akpabio would ensure proper investigation of Ajaokuta Steel Company.
The traditional rulers from the Ebira ethnic group in a letter to the President of the Senate, Chief Godswill Akpabio, urged Kogi State indigenes in the National Assembly to work for the common good of Ebiraland, Kogi State and Nigeria in general.
The letter signed by the Ohi 0f Adavi, Eganyi, Ihima, Eika and Okene, Mohammed Bello, Musa Isah Achuja, Ahmed Abdulraheem, Umar Opewu and Isah Mamman maintained that the issue of Ajaokuta Steel Plant and the National Iron Ore Mining Company, Itakpe must be handled with caution and statesmanship.
The quest for the resuscitation must begin with a holistic investigation of the circumstances that led to the re-concession of NIOMCO even when the initial concession agreement was validly terminated by the YarAdua administration with positive review by the International Chamber of Commerce, London.
Senator representing Kogi Central senatorial district, Chief Natasha Akpoti-Uduaghan is working for the resuscitation of the Ajaokuta Steel Company and the National Iron Ore Mining Company, Itakpe. She recently moved a motion to investigate alleged corruption and inefficiency at the moribund companies.
The stakeholders are pushing for the investigation of the payment of $496 allegedly made to Mr Pramod Mittal, Chairman, Global Infrastructural Holdings LTD (GINL) by the Federal Government in September 2022 as settlement over said contractual disputes.
They are calling for a review of extant policies and laws on steel development in Nigeria, dissolution of the sole administratorship of Ajaokuta Steel Company and promotion of good corporate governance, efficiency and accountability by constituting a proper management and governing board for the company.
They want a structure that should comprise but not limited to a Managing Director, Director of Projects, Director of Finance, Director of Corporate Services with representatives from professional bodies such as society of engineers, Nigerian Metallurgical Society and representatives from supervising ministries of finance and steel and of course Host Community.
However, the monarchs urged the legislators to show responsiveness and collaboration.
‘’’Our position therefore is that our legislators must cooperate with the Honourable Minister of Steel Development, the management of the two companies and stakeholders to come up with workable positions and ideas that would strengthen the hand of President Bola Tinubu to ensure that Ajaokuta Steel Plant works ‘’
The traditional custodians of the people of Kogi Central and Ebiraland listed massive employment generation for our teaming youths, technological breakthrough and economic emancipation as obvious benefits of the resuscitation and completion of the Ajaokuta Steel Company and the National Iron Ore Mining Company, Itakpe.
They recalled the bold steps of President Muhammadu Buhari, urging President Tinubu to consider it a priority to revisit the twin Ajaokuta and Itakpe projects.
‘’The history of these companies in our land has seen glory and trepidation. The best of the moments were between 1979 and 83 during the era of Late President Shehu Shagari, whose government took the project from scratch to a near completion stage in record time. His administration showed commitment and carried everybody along and capped it up with the creation of a separate ministry of steel development and the appointment of Late Mamman Ali Makele, an indigene of the state as Minister, a decision that made policy implementation on issues related to the development of Ajaokuta Steel Plant and Itakpe Iron Ore Mining Company easier and efficient. This is why we have a place we now call a steel plant, though left uncompleted forty years down the line’’.
They also commended Tinubu on his development strides, restoration of the Steel Development Ministry and appointment of an indigene of Kogi State to drive its efforts in line with the Renewed Hope Agenda.
‘’The new policy initiative is commendable and needs the support of every Sons and Daughters of Ebiraland and Kogites. This period is therefore a period of collaboration of ideas, support of government initiatives on these two companies and above all it is a period to deescalate controversies that may distract the government, stakeholders and would be investors that may show interest in helping to give life to the Ajaokuta.
