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Tinubu, German Chancellor, Scholz Meet On Investment In Power, Rail Transportation Sectors

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President Bola Tinubu, on the sidelines of the G20 Compact with Africa Economic Conference on Monday, met with German Federal Chancellor, Olaf Scholz, where he noted that Nigeria’s determined pursuit of German investment in targeted sectors of the Nigerian economy was focused on critical growth-enabling industries in energy, transportation, and electric power production, transmission, and distribution.

Recognizing the success of Siemens AG in positively transforming the quantity and quality of Egyptian electric power supply, the President noted that under his leadership, the staggered and unsteady implementation of the Siemens-supported Presidential Power Initiative (PPI) would take on new urgency with a more deliberate process of project execution, even as he recognized the need to embrace Siemens technology in all aspects of the project for project sustainability.

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President Tinubu in a statement issued by his Special Adviser on Media and Publicity, Ajuri Ngelale, was quoted as saying, “For me, I am very much committed to pursuing all aspects of the Siemens Power project and the skill development opportunities that will emerge from that project for our talented youths who can participate in sustaining the industry,” the President affirmed.

Aware of the new 2,000km ultra high-speed rail network which Siemens is presently constructing across 60 cities in Egypt at the speed of 230km/hour, the President further expressed his keen interest in the role Siemens can play in modernizing and expanding Nigeria’s rail network with the provision of ultra-modern trains and railways which can more than double the speed of existing 100km/hour standard-gauge systems presently operating in Nigeria.

READ ALSO: Protesting Osun Judiciary Workers Shut High Court Gate

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To this, the German Chancellor expressed readiness but with an acknowledgment of the need to resolve administrative and financial hurdles brought about by governance problems emanating from prior administration in the sector.

“I know that there is a lot of work that has been done. There is already a big production of electricity in Nigeria, but it is not getting to the population. Of course, this has to do with the need for a provision of stations and infrastructure on the grid.

“Siemens has developed the plan and is ready to deepen implementation, but it is now up to your new government to take the follow-up action that you are now committed to taking. On the railway plans, Siemens will be very happy to do this when more progress is made on the power project which has been started already,” the German Chancellor said.

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President Tinubu drew the attention of the German leader to the need for his business community to focus their attention on value-additive processing in Nigerian solid minerals, agricultural goods, automobile production, and other job-creating sub-sectors of the economy.

READ ALSO: Police Arrest One Over Murder Of Offa Poly Student

“Everything the world requires in terms of business environment reforms are underway in Nigeria. Perhaps our foreign investors are still a bit paranoid that those old Nigerian issues are intractable. But my track record speaks for itself. I have transformed an entity before now. I am here to do it again, and I will,” the President stated.

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The German Chancellor nodded in agreement and said, “There is nothing too unique on the growth of China. It came down to a lot of investment from overseas that leveraged on cheap and skilled labour with adequate internal infrastructure and shipping infrastructure for imports and exports to flow easily. These things are possible in Nigeria. You even have abundant natural resources. Step by step, it is achievable, Mr. President.”

The two leaders of the largest economies in Africa and Europe, respectively, agreed to deepen collaboration on the utilization of advanced biometric systems and border control technology to check irregular migration, even as the two leaders agreed that investments in labour-intensive industries will go a long way toward resolving the root causes of the problem.

President Tinubu later exchanged views with the German Head of State and Federal President, Frank-Walter Steinmeier, before attending the Compact with Africa Summit of Heads of State and Government.

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Nine Dead In Austria School Shooting

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A mass shooting at a secondary school in Austria’s second-largest city has left nine people dead and at least 10 others injured in what authorities are calling one of the country’s worst school attacks in recent history, Al-Jazeera reported.

Police were called to BORG Dreierschutzengasse school in Graz on Tuesday morning after reports of gunfire. Emergency services responded swiftly and secured the area.

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Authorities later confirmed that the suspected shooter had died by suicide, bringing the total number of dead to ten, including the attacker.

READ ALSO: China Reacts After Australia Bans DeepSeek On Govt Devices

According to local officials, at least seven of those killed were students. Graz Mayor Elke Kahr described the shooting as a “terrible tragedy.” One adult was also among the dead, though their identity has not yet been released.

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The incident reportedly began shortly after 10 a.m. local time and unfolded across two classrooms. Students, many aged 14 and older, were evacuated and are now receiving psychological support alongside their families.

The attacker is believed to have acted alone and is reported to be a former school student. The motive behind the shooting remains unclear.

 

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17 Palestinians Killed In Israeli Strikes Near Gaza Aid Site

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At least 17 Palestinians were killed and dozens more injured on Tuesday near a humanitarian aid distribution site in central Gaza, according to local health authorities as reported by Reuters.

The casualties reportedly occurred as large crowds of displaced residents gathered in the area to receive aid.

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The deaths were attributed to Israeli gunfire by Gaza’s health officials.

The Israeli military said its forces had fired warning shots at “suspects who were advancing in the area of Wadi Gaza and posed a threat to the troops.”

READ ALSO: Anxiety As Netanyahu Tells UN To Move Lebanon Peacekeepers Out Of ‘Harm’s Way’

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It added that it was aware of reports that several were injured, but said numbers released by local health authorities did not align with the information it had collected.

The warning shots were fired hundreds of meters from the aid distribution site, prior to its opening hours and toward the suspects who posed a threat to the troops,” the military added.

Medics confirmed that those injured were transported to Al-Awda Hospital in the Nuseirat refugee camp and Al-Quds Hospital in Gaza City.

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The Israeli military contested the reported casualty figures but acknowledged that several people were wounded during the incident.

READ ALSO: Five Feared Killed As Military Clashes With Shi’ite Protesters In Abuja

The shooting occurred in an area where the military has labelled a hazardous zone for its personnel.

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This came after a warning issued last week by the Israeli army, advising Palestinians to avoid roads leading to Gaza Humanitarian Foundation sites between 6 p.m. and 6 a.m., which were designated as “closed military zones.”

The incident adds to growing concerns over civilian safety amid ongoing conflict in Gaza. Just last week, at least 27 Palestinians were reported killed near another aid site in Rafah, also by Israeli fire.

That event marked the third consecutive day of disruption to aid operations, according to local health officials.

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READ ALSO: Pope Receives Relatives Of Captives, Calls For Peace In Israel, Palestine

Day after day, casualties & scores of injured are reported at distribution points manned by Israel & private security companies,” Philippe Lazzarini, the chief of the United Nations Palestinian refugee agency (UNRWA), wrote on X.

This humiliating system continues to force thousands of hungry & desperate people to walk for tens of miles excluding the most vulnerable & those living too far,” he said.

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The war erupted after Hamas-led militants took 251 hostages and killed 1,200 people, most of them civilians, in the Oct. 7, 2023, single deadliest day.

Israel’s military campaign has since killed more than 54,000 Palestinians, most of them civilians, according to health authorities in Gaza, and flattened much of the coastal enclave.

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Britain’s Jobless Rate Climbs To 4.6% As Economy Weakens

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Britain’s unemployment rate has reached its highest level since July 2021, according to official data released on Tuesday, following a UK tax rise and the implementation of US tariffs.

The rate climbed to 4.6 percent in the three months to the end of April, according to the Office for National Statistics.

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That compared with 4.5 percent in the first quarter of this year, the ONS added.

Tuesday’s data covers the start of a hike in business tax laid out in the Labour government’s inaugural budget last October.

April also saw the beginning of a baseline 10-percent tariff imposed on the UK and other countries by US President Donald Trump.

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“There continues to be weakening in the labour market, with the number of people on payroll falling notably,” said ONS director of economic statistics Liz McKeown.

READ ALSO: Britain To Invest 16bn In New Nuclear Power Projects

“Feedback from our vacancies survey suggests some firms may be holding back from recruiting new workers or replacing people when they move on.”

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Analysts said the data, which included slowing growth to wages, would likely see the Bank of England continue to cut interest rates into 2026, weighing on the pound but lifting London’s stock market in early trade on Tuesday.

With payrolls falling, the unemployment rate climbing and wage growth easing, today’s labour market release leaves us more confident in our view that the Bank of England will cut interest rates further than investors expect, to 3.50 percent next year,” noted Ruth Gregory, deputy chief UK economist at Capital Economics research group.

The Bank of England last trimmed borrowing costs in May by a quarter point to 4.25 percent.

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