China National Chemical Engineering International Corporation Ltd (CNCEC) has announced its commitment to support Nigeria’s ambitious $20 billion Ogidigben Gas Project in Delta State, marking a significant milestone in the bilateral economic ties between the two nations.

Li Zhenyi, President of CNCEC, revealed the company’s readiness to engage in the project through restructured funding and strategic partnerships with Nigerian stakeholders.

His remarks came during a high-level meeting with the Nigeria-China Strategic Partnership (NCSP) delegation in Beijing, led by its Director-General, Joseph Tegbe.

“Our company is devoted to contributing to Nigeria’s industrialization and economic growth,” Zhenyi affirmed, reiterating CNCEC’s broader commitment to supporting Nigerian President Bola Tinubu’s vision for national development.

The visit by the NCSP delegation aligns with the Forum on China-Africa Cooperation (FOCAC) framework, which aims to enhance investment, infrastructure development, and strategic partnerships across Africa.

Some context
The delegation’s engagements have focused on identifying innovative funding mechanisms and expediting key development initiatives. Meetings with major Chinese financial institutions, including China Exim Bank and China Development Bank, explored avenues to deliver Nigeria’s priority infrastructure projects.

Notable stops on the tour included the headquarters of the China Communications Construction Company (CCCC), where the delegation toured a facility producing 2.5 million eggs daily, and TBEA, a leader in power transmission solutions. Discussions with TBEA highlighted opportunities for mini and micro-grid energy systems to address Nigeria’s chronic power challenges.

What you need to know
The delegation also consulted with Prof. Justin Yifu, a former World Bank director and renowned economist, on policy reforms and strategies to attract Chinese investment into Nigeria. Prof. Yifu pledged his support to NCSP’s efforts in creating a robust framework for economic cooperation.

Further reinforcing the bilateral agenda, the delegation engaged with officials at the Nigerian consulate in Shanghai and toured the Yangshan Deep-Water Port, the world’s largest port facility, constructed by China Harbor Engineering Company. This same firm played a pivotal role in developing Nigeria’s Lekki Deep Sea Port.
Thus by facilitating high-level dialogues with key Chinese stakeholders, the delegation is laying the groundwork for sustainable growth in sectors critical to Nigeria’s development.

Before concluding their tour, the NCSP team will engage with economic leaders in Shenzhen and Guangzhou to further accelerate the implementation of FOCAC projects.

The Ogidigben Gas Project, one of the largest energy investments in Nigeria, is expected to bolster the country’s position as a key player in global energy markets while fostering job creation and economic diversification.

https://www.youtube.com/watch?v=zu4jY3bgg74?si=gqBh8x4RhEnWaDt1

Federal Capital Territory FCT minister, Nyesom Wike on Monday urged residents of the territory to keep faith with President Bola Tinubu’s administration, saying the president’s team in the FCT is made up of credible people and not the usual Nigerian politicians.

Wike spoke in Abaji town, headquarters of Abaji Area Council where he commissioned the 5-kilometre Naharati- River Ukya to Unguwan Hausawa Road, with 2-Span River Bridge and adjoining streets.

He said whatever promise the FCT Administration has made to residents, he will fulfil it without reneging on any of them.

Wike said; “Recall that in late 2023, precisely October – November, when we came to Abaji for a stakeholder’s meeting, we did consult you and we said that day that Mr President had sent us and it was for you to request one road you felt was so important for us to execute. This is the road you sent to us through your chairman of the council.

“In that stakeholder’s meeting, we did make a promise, as requested, that more police divisions are needed to beef up security in Abaji. And we promised, by the grace of God, we shall provide two more police divisions in Abaji.

“I also did tell you that day that whatever we agreed, go home and rest, we shall fulfill it. In January last year, after the stakeholder’s meeting, we flagged off this particular project, and I did say, this project will be ready for commissioning in December.

“I want to thank the company, they completed this project in November. Today we are in January 2025, we flagged it off in January 2024, we are commissioning today in January 2025.

“In the next few months, we will also come back and hand over the two police divisions that we are building for you. We did make a promise that we are going to provide infrastructure in Abaji University. As we speak now, you are aware construction is going on in that university.

“Throughout this week, from today till Friday, we will have devoted ourselves to commissioning of projects in the six area councils, so that everybody will know that we are not only concentrating in the city, as we are developing the city, so also we will be developing the satellite towns.

“I thank you for the support you have given to the administration of our president, who indeed, we thank almighty God for giving him to Nigeria at this time that is very very critical. Every promise we have made, be assured that we are going to fulfill the promises we have made. Don’t take us as the usual politicians, No. Ours is to make a promise, fulfill the promise to the people”, he stated.

Senator Ned Nwoko, representing Delta North, has officially left the Peoples Democratic Party (PDP) for the ruling All Progressives Congress (APC), citing frustrations with the PDP’s leadership in Delta State. Eyes Of Lagos reports,

The announcement was made by Nwoko’s media aide, Gloria Okolugbo, who revealed that the senator’s decision stemmed from a lack of support in delivering his campaign promises. “Senator Nwoko came prepared to serve, but he has not received the cooperation of his party,” Okolugbo stated, highlighting the difficulties Nwoko faced as the only PDP senator in Delta State.

The defection further strengthens APC’s dominance in Delta, with all three of the state’s senators now in the ruling party. Okolugbo also noted that despite Nwoko’s efforts to engage the PDP’s internal structures, factionalism within the party hindered progress.

This move marks a turning point in Delta’s political landscape and raises questions about the future of the PDP in the region. With Nwoko’s commitment to good governance and transparency, the shift signals growing challenges for the PDP in Delta State.

What does this mean for the PDP’s influence in Delta? Stay tuned as the political landscape continues to shift.

The Federal Government has filed a five-count charge against Seplat Petroleum and 12 of its officials for evading the payment of $37.5 million in stamp duties related to their 2010 acquisition of oil assets.

The charges, filed in a Lagos Federal High Court, also include allegations of document forgery involving the Commissioner of Stamp Duties’ seal. The case is set for trial on February 28, 2025.

The charges were filed before a Lagos Federal High Court by a team of prosecutors from the Federal Inland Revenue Service (FIRS).

The accused officials, including Roger Brown, Samson Ezugworie, Eleanor Adaralegbe, Effiong Okon, Ayodele Olatunde, Obi Ada Itotoi, Pius Ozoemenah Udeh, Edith Owuchekwa, Chioma Yvonne Afe, Okechukwu Mba, Alasdair Mackenzie, and Steve Ojeh, were alleged to have evaded paying the stamp duty on the executed Purchase Agreement for the acquisition.

The charge stated that Seplat and its officials failed to remit the statutory sum due to the Federal Government of Nigeria, resulting in a total unpaid amount of $37,581,083.40, which included both the original stamp duty and accruing interest.

The charges, as outlined in the court documents, accuse Seplat Petroleum and its officials of multiple violations, including failing to pay the stamp duty on the executed purchase agreements and evading payment of other duties, fines, and penalties due to the government.

The sum, due and payable to the Federal Republic of Nigeria, is alleged to have been unlawfully withheld during the acquisition of the oil assets in 2010.

These actions are in breach of the Stamp Duties Act and carry serious penalties under Sections 111 and 112 of the Act.

In addition to the failure to pay the required stamp duty, the defendants were also accused of counterfeiting the seal of the Commissioner of Stamp Duties.

The charge alleged that they inserted the forged seal onto the purchase agreements for OML 4, OML 38, and OML 41 in order to falsely validate the documents and avoid paying the required taxes.

This act of counterfeiting is punishable under Section 43(c) of the Federal Inland Revenue Service (FIRS) Establishment Act.

The charges against Seplat Petroleum and the 12 individuals have drawn attention to the company’s dealings and its compliance with Nigerian tax laws.

The case has been scheduled for trial on February 28, 2025, where the accused will face legal consequences for their alleged involvement in tax fraud and document falsification.

In a landmark move poised to bolster Nigeria’s economic growth and business environment, President Bola Tinubu has appointed Princess Zahrah Mustapha Audu as the Director-General of the Presidential Enabling Business Environment Council (PEBEC). This strategic appointment underscores President Tinubu’s unwavering commitment to empowering visionary leaders and fostering a conducive business ecosystem.

Princess Zahrah Mustapha-Audu brings an impressive wealth of experience and expertise to her new role, bolstered by her distinguished background as a seasoned entrepreneur and technology expert. Her academic credentials include a software engineering background and a business management degree from a prestigious institution in the United Kingdom. With over a decade of experience in founding and scaling successful ventures, Princess Zahrah possesses a profound understanding of global business dynamics, driving impactful and sustainable growth.

As a strategic thinker and highly motivated leader, Princess Zahrah is renowned for her exceptional ability to translate vision into actionable plans. Her passion for innovation and positive change drives her endeavors, and she is committed to developing sustainable solutions that will help drive up Foreign Direct Investment (FDI) and improve the quality of life for people globally.

In addition to her business acumen, Princess Zahrah is a passionate philanthropist who works tirelessly to improve the economic and living conditions of people and communities across Nigeria. Through her philanthropic and political efforts, she has built strong relationships with international communities and governments, championing the needs of the underprivileged.

As a leader in the All Progressives Congress (APC) and a vocal advocate for competent women in leadership positions, Princess Zahrah leverages her platform to inspire and enact meaningful social change.

Currently, Princess Zahrah serves as the Technical Adviser on Foreign Direct Investment (FDI) to the President, domiciled at the Office of the Vice President. In this capacity, she leads the “Invest in Nigeria” campaign and oversees the Existing Foreign Direct Investors Roundtable Forum, fostering strategic partnerships and driving investment into Nigeria’s growing economy.

The appointment of Princess Zahrah Mustapha Audu as the DG of PEBEC is a testament to President Tinubu’s unwavering commitment to empowering visionary leaders, promoting economic growth, and driving business development in Nigeria. With her expertise and experience, Princess Zahrah is poised to make a profound impact in her new role, driving transformative change and fostering a more enabling business environment in Nigeria.

Donald Trump has been inaugurated as the 47th President of the United States of America, marking his return to the White House for a second term.

This marks his unprecedented return to the White House, following his first term as the 45th president from 2017 to 2021.

The swearing-in ceremony took place in the Capitol Rotunda due to the cold temperatures outside.

Trump used Abraham Lincoln’s bible for the oath, which was administered by Chief Justice John Roberts.

“I do solemnly swear (or affirm) that I will faithfully execute the Office of President of the United States, and will to the best of my ability, preserve, protect and defend the Constitution of the United States,” Trump said in his oath.

Before Trump,  JD Vance, the United States Vice President, who represented Ohio in the US Senate from 2023 to 2025, took his oath of office.

The inauguration was attended by several dignitaries including the world’s richest man, Elon Musk, Meta boss Mark Zuckerberg, Amazon chief Jeff Bezos and Google CEO Sundar Pichai.