Business & Economy
Chinese Coys set to invest $500m in Solid Minerals sector ……As Senate assures of enabling legislations to protect investments

By Ignatius Okorocha
Senate committee on Solid Minerals has promised to provide enabling legislations to protect Chinese companies $500million investments in solid minerals exploration in the country.
Making this declaration at an interactive session between Chinese delegation and Senate committee on Solid Minerals resources at the weekend,Acting Chairman of the committee, Senator Onawo Mohammed Ogoshi

Senator Onawo Mohammed Ogoshi (middle) Senator Mohammed Alero (right)and Vice Chairman, Senator Mustapha Khabeeh (left)
(Nasarawa South) assured the delegation that the Nigerian Senate will provide enabling legislations to protect their investments in any part of the country.
“Nigerian Senate is suppose to give you all the necessary encouragement to come and bring this huge amount of money to our economy.
“Our laws on solid minerals exploration are very robust. We intend to make it more robust by amending some of the laws that are obsolete, outdated and enact laws that will give your companies better protection in doing good business in Nigeria, he assured.
He appealed to the delegation to bring in more investors into Nigeria to do business.
Also speaking, a member of the committee,Senator Mohammed Alero said,” I join the chairman to commend you for coming to invest in our country.
” You have come at the right time when the country is venturing into diversing her economy. We had a mono- economy before now, where we depend heavily on oil for our foreign exchange earnings but the federal government has realized that we had no better choice than to look for other sectors of economy to earn revenue to finance our budget and solid minerals is one area where we have a lot of potentials.
“We will do all we can to facilitate your involvement in this sector. We will liase with the Ministry of solid minerals at the National level to secure licenses and to give you permission to go and start mining.
“We will also talk to the governors and the traditional Institutions to ensure that you have free access to the areas where you are going to do your business and ones that is done, I don’t think you will have any problem,” he said.
Earlier, leader of the delegation comprising some Minerals exploration in China, Mr Chen Twan of Zong Hong Kotai group declared that the delegation is coming up with an initial $500million to invest in three states of Nigeria; comprising Zamfara, Kebbi and Nasarawa.
He noted that if they do well within the first one year of their exploration in the three states, they would extend their investments to other states that have solid minerals potentials.
Mr Chen Twan assured, “If we test the waters and see that it is good, we will attract more investors to Nigeria to invest in minerals deposits.”
According to him,”as an international group, our company specializes in mining and bitumen. In the past few years, we have invested extensively globally and on that strength, we have come to Nigeria to survey the possibility of investing in the mining and industrial park sectors in your country for the coming year.
“We also have another investment in Nigeria and we will make that known in the course of our stay in country.”
Also Representative of Nigerian Investors and Managing Director Exterdam Exploration, Mr Adamuta said,
“Over the time, we have been engaging them for the past two years. We have gone to their factories in China. I have personally visited their factories for the past one year, I saw their processes and we know what they do and we trust them and we are a Nigerian based company.
“They are not coming to Nigeria on their own, they are coming based on the investigation they have done the companies that we have and the licenses that we have acquired.
“So, they coming to build on those licenses and that is why when they came we had to introduce them to our fathers so that they will have full confidence of investing in Nigeria knowing that we are a true company doing the right thing and following the laws of the country.”
He said the support of the Senate has given them the courage to invest the huge amount of money in the nation’s solid minerals sector.
“With Senate’s support, they still want to invest more money into this venture and if that is good, they intend to invest another one billion dollars into the solid minerals when this first phase of the investment scales through,” he assured.
Business & Economy
Hajj: CSO urges enlightenment for Nigerian pilgrims on currency denominations

By Abdul-Ganiyy Akanbi,Abuja
A faith-based registered Civil Society Organization, CSO, that reports and advocates for workable Hajj policies, the Independent Hajj Reporters, IHR, has called on the States’ Muslim Pilgrims Welfare Boards, SMPWBs to conduct a special enlightenment programme to intending pilgrims on Saudi Arabian currency denominations.
The group, in a statement signed and released on Friday by its national coordinator Ibrahim Muhammad, said: “Now that the Central Bank of Nigeria, CBN has approved the payment of 2025 Hajj BTA via cash payment in US dollars, we call on States Muslim Pilgrims Welfare Boards, agencies and Commission to organize a special enlightenment program to educate Nigerian pilgrims on currency denominations especially on the exchange rates between US dollars and Saudi Riyals.”
It added: “Most of the Nigerian pilgrims are not conversant with foreign currencies especially US dollars and Saudi Riyals, and can hardly identify the value of each denomination unless they are guided during hajj, where hundreds of thousands of pilgrims engage in financial transactions.
“Given the above, Nigerian pilgrims should also be shown the Saudi Riyals currency denomination so that they can be able to identify such whenever they need to change US dollars to Saudi Riyals or make a purchase using either of the two currency denominations.
“This call is important due to past experiences where some dubious Saudi-based individuals shortchanged our dear pilgrims whenever they make purchases or try to convert their BTA to US dollars.”
IHR warned that Nigerian female pilgrims who patronize unregulated dental services to change their teeth as soon as they arrive in Madinah are more vulnerable to being shortchanged.
The group also pleaded with airlines to use the onboard educational system to educate pilgrims on the same subject as a way of corporate social responsibility to help mitigate the risks of financial losses on the part of intending pilgrims.
“Understanding denomination in today’s currency circulation is crucial as it serves as the foundation of all monetary transactions worldwide. It will enable pilgrims to comprehend the value of their BTA.
“According to the Central Bank of Saudi Arabia, SAMA, the most-exchanged foreign currencies during Hajj are the US dollar, the euro, the Singapore dollar, the Indian rupee, the Indonesian rupiah, the Emirati dirham and the Malaysian ringgi,” IHR stated.
Business & Economy
BOSG. trains 150 Almajirai in vocational skills


Recipients at the Almajirai Vocational center in Borno state
Business & Economy
$530million Agro project: North East Caucus in NASS kicks against exclusion of zone …calls for immediate inclusion

By George Mgbeleke
The North East Caucus in the National Assembly on Thursday in Abuja , kicked against exclusion of the zone from the $530million Special Agro – Industrial Processing Zones ( SAPZ), being implemented by the Federal Government of Nigeria .
The Caucus which comprises the entire Senators and Honourable members of the House of Representatives from the Six States in the zone , declared that it was unacceptable to them that none of the states , is included and accordingly requested for inclusion by President Bola Tinubu .
Rising from an emergency meeting at the Senate wing of the National Assembly which lasted for about two hours , the caucus through its Chairman , Senator Muhammad Danjuma Goje , lamented that despite the North East been the first in Livestock and Agriculture generally in the country , none of its six states , is picked among the eight states in the country where the special project is being implemented .
Goje at the press briefing said : ” The emergency meeting held today by all the federal lawmakers from the North East geo – political Zone comprising Adamawa , Bauchi, Borno , Gombe, Taraba and Yobe States was convened sequel to the exclusion of our zone from the all-important programme of the Federal Government, the Special Agro-Industrial Processing Zones (SAPZ), despite the enormous potential of our zone in all spheres of agriculture and livestock of the Federal Republic of Nigeria.
“In view of the seriousness of this matter, the members of our caucus, even though the parliament is on recess, cut short their holidays to attend this meeting and express our reservations about our region’s exclusion from the programme.
“For a start, $530 million is to be provided by the Federal Government, the African Development Bank (AfDB), the Islamic Development Bank (IsDB), and the International Fund for Agricultural Development (IFAD) for the SAPZ programme.
On Tuesday, April 8, 2025, His Excellency, the Vice President, Kashim Shettima, GCON, in Kaduna State, flagged off the construction of Phase 1 of the SAPZ as part of the present administration’s plan to industrialise Nigeria’s agricultural sector and create sustainable jobs.
Seven states and the Federal Capital Territory (FCT) have been selected for the programme. The North West and South West have two processing zones each – Kaduna, Kano, Ogun, and Oyo states. The South South, South East and North Central have one processing zone each.
“Despite its enormous agricultural potential, the North East is conspicuously missing from the list of states allocated the processing zones.
” SAPZs aim to transform Nigeria’s agriculture landscape through innovation, private-sector investments, and strategic public partnerships.
The zones are designed to create agro-industrial hubs that integrate farmers with processors, reduce post-harvest losses and expand rural economic opportunities.
“Geographically, the North East is the largest geopolitical zone in the nation, covering nearly one-third of Nigeria’s total area of 272,451 km2 (105,194sq mi). Our potential in all aspects of the agricultural sector cannot be overemphasised.
“At the end of the meeting, we resolved as follows: (i) Lament the exclusion of the North East Geopolitical Zone from the processing zones despite its enormous agricultural potential cutting across all sector value chains.
(ii) Appeal for the immediate inclusion of the North East Geo-political Zone in the Special Agro-Industrial Processing Zones (SAPZ). This is not only for fairness and inclusivity but for the actualisation of the lofty ideals of the present administration to industrialise Nigeria’s agricultural sector and create sustainable jobs in the country.
(iii)Commend the President and Commander-In-Chief of the Armed Forces of the Federal Republic of Nigeria, His Excellency Bola Ahmed Tinubu, GCFR, for making this programme a reality.
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