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G7 partners pledges $420-million-dollar investments for Africa as Nigeria positions

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1 year ago

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Leaders of the Group of 7(G7) countries held a meeting with Italian and United States private sector representatives resulting in a $420-million-dollar investment commitment towards African countries.

This was disclosed in a statement published on Thursday, on the website of the government of Italy, the current host of the ongoing 50th G7 summit.

Tagged “G7 Partnership for Global Infrastructure and Investment Side Event Co-Chair Statement”, the statement revealed the G7 co-chairs welcomed the commitments of $100 million and $320 million by partners, aimed at meeting the infrastructure and development needs of Africa through private sector engagement.

Global Infrastructure Investment
Nigeria is strategically positioned to benefit from the commitments made at the G7 summit.

The G7 is an informal association of seven of the world’s advanced economies(Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States, as well as the European Union), most of whom were Nigeria’s biggest trading partners in Q1, 2024.

According to data from NBS and Naralytics, France, US, Canada, and Italy were Nigeria’s top ten export trading partners in Q1, 2024.

These G7 leaders agreed to support flagship projects to develop transformative economic corridors for quality infrastructure and investments, touching Africa, the Middle East and Europe.

It stated that a coalition of U.S. investors highlighted and committed new billions of dollars in private investment in scaled infrastructure in emerging markets as a way of supporting the G7’s Partnership for Global Infrastructure and Investment (PGII) topline goal of mobilizing $600 billion in infrastructure investment in emerging economies.

The statement partly reads,

“Today, Italy joined U.S. and EU efforts to promote sustainable development along the Lobito Corridor – committing to strengthen collaboration and mobilize an additional aggregate contribution of up to $320 million in investment in support of the core rail infrastructure and of the related side projects, with a view to additionally creating synergies with AGIA (Alliance for Green Infrastructure in Africa).

“The Co-chairs welcomed the Africa Green Industrialization Initiative (AGII) as a key platform for collaboration on infrastructure investment in Africa and celebrated the Global Energy Alliance for People and Planet (GEAPP) commitment of up to $100 million in philanthropic catalytic investment capital to unlock an additional $1 billion in private finance.”

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GOVERNOR UZODIMMA INSPECTS MAJOR ONGOING PROJECTS ACROSS OWERRI, REAFFIRMS COMMITMENT TO URBAN RENEWAL.

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13 hours ago

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October 7, 2025

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By Prince Uwalaka Chimaroke
7-OCT- 2025

The Executive Governor of Imo State, Distinguished Senator Hope Uzodimma, on Monday embarked on an extensive inspection tour of several ongoing projects across Owerri, the state capital, In a remarkable move that reflects his administration’s dedication to infrastructural excellence and urban transformation

The inspection exercise was part of the Governor’s continuous monitoring of strategic development projects aimed at ensuring timely delivery, adherence to standards, and alignment with the State’s comprehensive urban renewal scheme.

During the tour, Governor Uzodimma visited key project sites including the construction of the Ultra-Modern Bus Terminal at Onitsha Road, the Imo Recreation Park, the headquarters of the Imo Internal Revenue Service (IIRS), and the Imo Drug Warehouse. Each of these projects represents a vital component of the administration’s broader vision to modernize Owerri, strengthen public services, and promote economic vibrancy within the State.

According to the Governor, the on-site inspection was not just an assessment exercise but a strategic review session aimed at identifying gaps and ensuring that contractors maintain both speed and quality in project execution. He emphasized that his observations during the visit would inform prompt and targeted interventions to accelerate delivery timelines and enhance the efficiency of infrastructure development.

Governor Uzodimma reiterated that his government remains focused on sustainable urban development, with projects deliberately designed to improve the living standards of citizens, decongest urban traffic, enhance environmental aesthetics, and boost tourism and commerce in the capital city.

The Governor’s hands-on leadership style continues to reflect his resolve to deliver on the 3R Government Agenda of Rehabilitation, Reconstruction, and Recovery, transforming Imo into a modern, functional, and investor-friendly state.

 

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Northern elders, governors establish NNDC

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17 hours ago

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October 7, 2025

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The Northern Elders Forum and the Northern Governors Forum have established a new body known as the Northern Nigeria Development Council, NNDC, to coordinate and drive the region’s economic transformation agenda.

The decision followed the signing of the Northern Nigeria Economic Development Charter at the end of the Northern Nigeria Investment and Industrialisation Summit, which ended in Abuja on Monday.

NEF Convener, Prof Ango Abdullahi, who signed the communiqué after the summit, pointed out that the proposed council will operate under the joint supervision of the two forums and serve as the institutional framework for implementing the region’s long-term development masterplan.

The communiquè said, “The charter signed by the Northern Governors commits them to establish the NNDC as the dedicated coordinating agency for the region’s economic agenda.”

It further revealed that the NNDC will “serve as the institutional and programme management body to midwife the Regional Integration Agenda of Northern Nigeria.”

It will consolidate strategies in mining, agriculture, power, industrialization, technology, and related sectors.

The summit, themed “Unlocking Strategic Opportunities in Mining, Agriculture, and Power,” brought together governors, investors, and development partners to explore ways to accelerate growth in the region.

The forum disclosed that over $10bn in investments were pledged across key sectors for implementation over the next five years.

It also emphasized the need for regional economic integration, improved infrastructure, and clear investment policies to attract private capital.

Participants further recommended reforms to ease doing business, standardise public-private partnership frameworks, and institutionalise land administration reforms.

They also proposed the creation of a Security-Investment Coordination Task Force to safeguard critical projects.

The communiqué traced the vision for the new council to the North’s historical industrial base, recalling the 1960s and 1970s when agriculture and agro-processing anchored the region’s economy.

It noted that the new initiative aims to revive that legacy through a modernised, coordinated framework for sustainable growth.

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EVENTS

Igbo communities in Canada demand Nnamdi Kanu’s release, cite deteriorating health

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3 days ago

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October 5, 2025

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The Igbo communities in Canada have called on President Bola Tinubu to order the immediate and unconditional release of the detained leader of the Indigenous People of Biafra (IPOB), Mazi Nnamdi Kanu.

The groups said the call became urgently necessary due to the worsening health condition of Nnamdi Kanu and the alarming state of insecurity in the Southeast region.

In a statement signed by the President of Ohanaeze Ndigbo Canada, Chief Dr. Anicetus Nwizundu (Okanga Ogadagidi), the group expressed deep concern over Kanu’s continued detention in the custody of the Department of State Services (DSS) for over four years despite repeated appeals for his freedom.

“We, the Igbo people living in Canada, stand united in calling upon the Federal Government of Nigeria to intervene compassionately in this matter and facilitate the unconditional release of our brother, Nnamdi Kanu,” the statement said.

Nwizundu noted that Kanu’s health condition has deteriorated seriously, as confirmed by several medical experts, including cardiologists who have examined him during hospital visits. He warned that further detention could endanger his life.

“We implore the Federal Government to act swiftly to release him from custody before it’s too late,” the statement urged.

The president also highlighted that Kanu’s incarceration was a result of his persistent advocacy against the marginalization of the Igbo people in Nigeria. He stressed that the Igbo community is not seeking confrontation but fairness and justice within the Nigerian federation.

“The Igbo do not seek trouble; they yearn for recognition, equality, and peace as Nigerians. Yet, they are treated as second-class citizens in their own country,” the statement lamented.

Nwizundu further expressed worry over the worsening insecurity in the Southeast, describing the situation as “terrifying and disheartening.”

“There is no safety in Igboland today. One cannot travel without fear, nor sleep peacefully at night owing to insecurity pervasive across various parts of our land,” he stated.

The group maintained that releasing Nnamdi Kanu would help restore calm and unity in the region, paving the way for sustainable peace and development.

“With his release, we envision correction of many wrongs afflicting our homeland, paving the way for total peace,” Chief Nwizundu added.

The statement concluded with an appeal to President Tinubu to demonstrate compassion and statesmanship by ensuring Kanu’s freedom in the interest of national healing and unity.
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