Kenya boosts stake in Africa Finance Corporation by Ksh3.25B, Ruto announces
President William Ruto has announced that Kenya has increased its shareholding in the Africa Finance Corporation (AFC) by $25 million (Ksh 3.25 billion), as the country steps up its support for African financial institutions. Writing on his social media handles, Ruto announced his visit to the AFC headquarters in Lagos, Nigeria, on Friday, September 25, […]
At the recently concluded 81st United Nations General Assembly (UNGA), the governor of Rivers State, Siminalayi Fubara, held a foreign investment attraction rally. This rally was held as part of the federal government delegation led by Vice President Kashim Shettima. Fubara addressed the need to promote the wellbeing of the state both in the present and the future, highlighting the importance of attracting foreign investments.
The governor's choice to search for these investments at the UNGA is remarkable for several reasons. Firstly, attracting foreign investments is a cardinal policy goal of the federal government, as the UNGA provides a unique platform for global deals and dealmakers. Secondly, the economy of Rivers State is dependent on the exploitation of natural resources other than oil and gas, which are still largely untapped.
Despite the cliché nature of such declarations by Nigerian officials, Fubara's approach to seeking foreign investment is particularly remarkable. Considered within the context of his tenure and the image he carries as a "poster boy" of governance issues, Fubara's efforts in scouting for foreign investments can be seen as a genuine attempt to break new grounds in governance and provide a solid base for the next administration.
With his term ending in just eight months, Fubara's pursuit of foreign investors is seen as a global projection of his sustainable economic development agenda. As the hub of Nigeria's oil and gas economy, Rivers State plays a crucial role in the Nigerian economy. The state also serves as a nexus for social and economic life for Nigerians and foreigners.
Its infrastructure, including airports, seaports, and roads, allows for easy access to visitors from around the world. The state comprises various ethnic nationalities, making it a cosmopolitan community. Fubara's decision to step down from seeking a second term allows him to focus on delivering on his development agenda, which sets a positive precedent for public-spirited political leaders.
Written by urgent.news from Daily Trust's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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