Greatest Asset Nigeria Has Over Other Nations Is Human Resource – Tinubu Boasts In Germany

President Bola Tinubu has boasted in far away Berlin, Germany, that beyond Nigeria’s natural resources, the people of Nigeria, who are highly educated, highly skilled, and naturally industrious are the primary asset and advantage the country over other nations in the global race for new investments.
Tinubu told international investors today, November 20, at a panel discussion titled, “Fostering local value chains and investments in Africa – The role of the German private sector” at the G20 Compact with Africa Economic Conference, hosted by German Chancellor Olaf Scholz, that while promoting the rule of law is crucial for attracting foreign investments, Nigeria’s energetic youth population and well-educated populace represent the greatest incentive provided to investors toward the mutually-beneficial replication of China’s economic resurgence.
“We are dogged in our pursuit of natural gas development today, in tandem with hydrogen production for tomorrow. The world knows Nigeria as a leader in the energy sector. Our vast gas deposits and business-friendly environment make us an attractive investment destination.
“But we are going a step further now. We are creating fiscal responsibility and tax reforms as we reform our financial institutions to expeditiously accommodate foreign investments.
”We are eager and ready to partner with you. We have the youngest, largest, and most vibrant youth population in Africa.
“Equally, we have every ingredient required in the making of a modern economy: a well-educated population, a massive market, and the political will to bring it all together under my leadership.
“Africa has moved beyond the false past notions of business disincentivization and poor adherence to the rule of law.
“We now fully recognize the nexus between the inflow of investor money and the sanctity of contracts. We want to partner on the basis of who we are and what we do, rather than on the basis of long-held misconception.”
President Tinubu briefed the summit of the country’s intentional move toward developing labour-intensive sectors of the Nigerian economy for massive job creation as well as a new emphasis on technological progress and new opportunities in Nigeria’s rapidly expanding information and communications technology space.
The President assured potential investors that Nigeria has moved beyond restrictive policies, and today, capital can be moved in and out of the country freely, providing flexibility for investors.
“Nigeria has consolidated on its democracy with several consecutive handovers of power.
“There is stability and predictability in the socio-political development of our country, which provides a conducive atmosphere for business operations and investment.
“Your money is safe. Since I assumed office in May 2023, we have embarked on transformative changes, removing all obstacles hindering businesses. “We are reforming the economy based on the principle and philosophy of good governance,” the President confidently affirmed.
He asked German automobile firms to establish manufacturing plants in Nigeria, even as he invited German businesses to take advantage of investment opportunities in multiple sectors following the successful visit of the German Chancellor to Nigeria in October.
Earlier, German Chancellor, Olaf Scholz looked at the dynamic and evolving nature of economic relations between the developed and developing nations of the world and said that he is he positioning Germany to enhance partnership with Nigeria and Africa on a mutually-beneficial basis.
“To be clear, this is not about traditional development aid with donor-recipient schemes. Instead, we now focus on investments that yield benefits for both parties. In Germany, as we strive for climate neutrality by 2045, we anticipate a substantial demand for green hydrogen, a considerable portion of which we plan to import, including from Africa.
“Many African countries possess larger potentials for renewable energy and competitive hydrogen production than we do. I am convinced that there are fantastic opportunities for expanding cooperation between German and African companies in this context.
“I highlighted this during my visit to Nigeria, where we already operate a hydrogen office and aspire to be a partner in the ambitious expansion of renewable energies.”
Other panelists at the discussion were the German Federal Chancellor, Olaf Scholz; President Alassane Ouattara of Côte d’Ivoire; Prime Minister Aziz Akhannouch of Morocco; President Macky Sall of Senegal; Sabine Dall’Omo, Chairperson of Afrika-Verein (German-African Business Association); and CEO of Sub-Saharan Africa, Siemens AG.









Importance Of Legislative Compliance In Good Governance, By Edward Usoro
In any democratic society, adherence to legislative compliance is crucial for a smooth and efficient functioning of the government. Democracy thrives on the idea of complementarity among the three arms of government for effective delivery of good governance.
This article explores the importance of legislative compliance by the executive arm of government and its impact on governance, accountability, and the overall well-being of the society.
In Nigeria, like in other democracies, while the legislature makes laws, the executive is responsible for implementing them. The flouting of those laws and policies attracts punishments pronounced by the judiciary. By implication, the three arms are expected to work in complimentary roles to stabilize the society.for the good of all.
However, if the legislature makes laws and the executive refuses to play a pivotal role in ensuring that those laws are followed and enforced, the outcome will be a society of anarchy. That was the concern that recently made the chairman of the National Assembly and Senate President, Senator Godswill Akpabio, to urge the executive to be more responsive to legislative issues.
Akpabio’s message was not an indictment of the entire executive arm, but a clarion call to those wont to be sluggish and less concerned about the general issue of governance. It was a subtle warning to those who believe in “business as usual” approach, not minding if the “usual” lacks a utilitarian flavour.
As he decried the attitude of some heads of Ministries, Departments and Agencies (MDAs), often in the habit of snubbing the summons of the Committees of the National Assembly as well as the laws and resolutions of the legislature, Akpabio signalled his commitment to help change the narrative of governance for the better.
As said earlier, legislative compliance, particularly in implementation by the executive, guarantees governance and rule of law. Clearly, when the laws enacted by the legislature are effectively implemented, they provide a framework for governance and stability. By adhering to legislative requirements, the executive arm helps maintain order and justice within the society, fostering an environment where citizens can trust in the fairness and impartiality of government actions.
Moreover, complying with legislative outputs promote accountability and transparency. It has been argued by political experts that when the government complies with legislation, it becomes easier for the citizens and relevant oversight bodies to monitor and evaluate the actions of the executive. This accountability fosters a sense of trust and confidence in the government’s ability to act in the best interests of the people. By complying with legislative requirements, the executive arm demonstrates its commitment to transparency, allowing citizens to have a clear understanding of government decisions and policies.
Also, legislative compliance by the executive arm also helps in curbing corruption and preventing abuse of power. This is where the principle of Seperations of Power becomes relevant in a democracy. When the executive follows the laws and regulations set by the legislative branch, it reduces the chances of unauthorized actions that may harm the public interest or violate individual rights.
It does appear that Akpabio did not only have his eyes on transparency and accountability, but also on justice and protection of human rights. For Plato, justice consists in everyone doing his due. He does not see justice as mere strength, but a harmonious one. Justice is not the right of the stronger but the effective harmony of the whole. All moral conceptions revolve about the good of the whole – individual as well as social. Applying this to Akpabio’s appeal to the executive for legislative compliance, it is clear that he aimed at ensuring a harmonious government for the benefit of the masses.
It is in a society, as aforepictured, that protection of human rights and justice can be effectively ensured. It is common expectation that laws enacted by the legislature often aim to protect individual liberties,and promote equity and social justice. The manifestation of the above expectations becomes easy when the executive complies with the laws, thus contributing to the protection of human rights and equitable treatment of all. On the reverse, non-compliance can lead to violations of constitutional rights, making the executive arm accountable for any potential harm caused by disregarding legislation.
There is also the issue of effective policy implementation. Policies and programs designed to meet societal needs cannot be effective, if they are not executed in accordance with the law. By understanding and adhering to legislative outputs, the executive arm can ensure that policies are implemented effectively, efficiently, and in a manner consistent with the intended goals. Compliance allows for meticulous planning, proper allocation of resources, and overall enhanced policy outcomes.
Legislative compliance by the executive arm of government is of paramount importance for the successful functioning of a democratic society. It promotes governance, accountability, transparency, and the protection of human rights. By adhering to legislative requirements, the executive arm ensures the effective implementation of policies, leading to favorable outcomes for the society as a whole. Consequently, fostering a culture of legislative compliance within the executive arm is vital for maintaining the rule of law and ensuring a just and fair society.
In summary, legislative compliance is crucial for the successful functioning of a democratic society. It upholds the rule of law, promotes accountability and transparency, prevents corruption, and ensures the protection of human rights. By adhering to legislative requirements, the executive arm plays a vital role in maintaining a just and fair society for its citizens.
* Usoro, a public affairs analyst and communications expert, wrote in from Lagos.