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Abiodun seeks Brazilian investors for Olokola LNG, livestock, mining, tourism, power plant, others

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Ogun State Governor, Prince Dapo Abiodun has urged investors from Brazil to partner with the state to set up a fertilizer plant at the Olokola Liquefied Natural Gas Project.

The governor also stated that Ogun State is ready for investment opportunities in oil and gas, livestock, mining, agriculture, power plant development, renewable energy, tourism, technical and vocational training for youths, among others.

Prince Abiodun spoke at the Ogun State Investment Summit held in Rio de Janeiro, Brazil, on the sidelines of the BRIC Summit attended by President Bola Ahmed Tinubu, five governors, ministers, and other government officials.

The summit is in furtherance of the investment drive of the Dapo Abiodun-led administration for the rapid development of the Gateway State.

Abiodun described Ogun State as investor-friendly and one of the most developed states in Nigeria, even as he noted that Olokola has the deepest sea point in the country.

He said: “We have a region in our state that is the deepest sea point in Nigeria, called the Olokola region, where there is an Olokola gas project in the offing. This place has been identified as the right location to have a fertilizer plant. So, we welcome partners from Brazil to set up a fertilizer plant with us in Ogun State.”

Nigeria’s Foreign Affairs Minister, Yusuf Tuggar, who also spoke at the event, described Ogun as one of the most industrialized states in Nigeria.

“There’s a lot that already exists in terms of the backbone for industries, which is why Ogun is very industrialized. It is one of the most industrialized states in Nigeria,” Tuggar said.

Finance Minister and Coordinating Minister of the Economy, Wale Edun, noted that Nigeria is on the right track in terms of growth, inflation, and external positioning.

Central Bank Governor, Yemi Cardoso, said that Nigeria’s financial system has been stabilized since the present administration came on board.

He stated: “In Nigeria today, we have stability in our financial system. We have a very tight monitoring system that ensures that inflation is gradually beginning to trend downward. The significance is that the foundation for growth is being established.”

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Politics

Tinubu to visit Southsouth, Southeast May – Presidency

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The Presidency has revealed that President Bola Tinubu would visit the South-South and South-Eastern parts of the country on the 12th of May, 2026.

The Minister of Works, Dave Umahi, made this revelation on Monday after inspecting the Aba-Port Harcourt Motorway Abia State section and Eleme Axis of the East-West road in Rivers.

According to him, the visit would be to inaugurate the projects that would be completed in April.

Umahi further stated that the federal government has intensified work on key highway projects across the South-South, with several strategic corridors slated for commissioning by President Tinubu during his planned visit to the regions in May.

The project, he said includes the 43-kilometre dualization   of the Aba–Port Harcourt highway, a critical economic artery linking Abia and Rivers states, which officials say will be substantially ready by April.

“They are still committed to any section of the road when they finish for twelve months. If it fails, it’s their business; it’s their problem; they have to repay it.

“But so far, I am happy with their work, and I want them to finish by April so that we can turn it in for Mr President to commission by 12th of May when he visits Southeast and South South,” he said.

 

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President Tinubu To Visit Yola, Interact With Leaders, Inaugurate Completed Projects

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President Bola Tinubu will on Monday pay an official visit to Adamawa State, less than 48 hours after he made a similar visit to Kebbi.

During the one-day visit, President Tinubu will inaugurate completed projects, meet with top government officials, and traditional rulers.

Billed for inauguration in the capital, Yola, and Jimeta, is the eight-lane Galadima Aminu Road linking Gimba and the capital. The model school, comprising pre-primary, primary, and junior secondary classes, will also be inaugurated by the President.

Others include the new multipurpose hall, the remodelled High Court, the newly built officers’ complex, and the renovated Government House.

The President will return to Abuja after the inauguration and the interaction with the state’s indigenes.

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Rep. Cyril Hart Clarifies Tax Reforms, Slashes Claims of Former Governor Amaechi

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Abuja, Nigeria – Hon. Cyril Hart, Member of the House of Representatives, has clarified recent tax reforms, dismissing misinformation spread by former Governor Rt. Hon. Rotimi Amaechi.

Hart explained that VAT on building materials remains 7.5%, contrary to claims of a 25% increase. He emphasized that the 25% Company Income Tax applies to taxable income, not invoice value or turnover.

“Government will NOT take 25% of the INVOICE value of traders or anyone,” Hart stated. Small businesses with ₦100 million turnover are exempt from Tax, and Company Income Tax was reduced from 30% to 25%.

Hart urged citizens to disregard Amaechi’s claims, saying tax law is technical and requires proper interpretation. The reforms aim to ease burdens on small businesses and workers, with effects already visible in reduced PAYE deductions.

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