NSIB, NAMA, seal deal to promote air safety

The safety of the Nigerian air space has received a boost as the Nigerian Safety Investigation Bureau (NSIB) and the Nigerian airspace management agency ( NAMA) in line with their inter agency collaboration agenda Tuesday in Abuja entered into a Memorandum of Understanding (MoU) agreement and renewed partnership to promote air safety.


The main purpose of the agreement was to consolidate the existing relationship between NSIB and NAMA on the exchange of information, and data sharing during occurrences, among others, that can help in the quality and timeliness of investigation of air mishaps in accordance with the International Civil Aviation Organisation ICAO Annex 13 and 19 of the 1994 Chicago convention on International Civil Aviation .


Also included in the MoU was the flexibility in all transactions with the mutual agreement of both agencies, upholding the values of cooperation, honesty, mutual respect, openness and professionalism .


NSIB and NAMA while signing the deal noted that though the MoU is not legally binding, but the two agencies however agreed to perform their respective functions in a manner consistent with the values and principles of the agreement.


A statement signed by Tunji Oketunbi disclosed that the signing of the agreement, took place at the NSIB Abuja headquarters and had the Bureau Director General, Engr. Akin Olateru signed on behalf of NSIB, while NAMA Managing Director/ CEO Engr. Odunowo Tayib Mohammed, put pen on paper for his Agency.


The NSIB recently signed a MoU with Lagos State Emergency Management Agency (LASEMA) on cooperation during emergencies even as the agency has signed similar agreements with various agencies and institutions within and outside the country.


Said Olateru, “Collaboration remains the centre point of our drive towards enthroning safety in the aviation industry. We remain committed to promoting safety in the aviation industry to the point of attaining and maintaining zero accident.”


He added: ”We, however, cannot do it alone. That is why we have chosen the path of collaboration with agencies and institutions with similar objectives.”


He commended NAMA management for rising to the occasion by signing the agreement.

Women Affairs minister celebrates appointment with orphans, PLWD, less privileged in hospital

The Minister of Women Affairs Barr Uju Kennedy Ohaneye has celebrated her appointment with Orphans, people living with Disability (PLWD) and sick ones at the hospital.

She had a prayer session with sick children and offered to offset the bills of those in hospital.

This came right after she collected her appointment letter from the Secretary to the Government of the Federation (SGF). She proceeded to the Ministry of Women Affairs were she addressed the Director’s, Press, Partners and other well wishers.

In a statement released by Musa Abdulrahaman, she emphasized the need to always interact and extend help to the needy and those who are looking out for assistance.
The Honorable Minister saw this as a means of appreciating God for the kindness and favour upon her and her commitment to bring life, hope and succor to the less privileged and also encourage others who have the means to also tow the path.

Alleged Foreign Properties Acquisition: CSOs Throw Weight Behind NIMASA

… insist allegation baseless and unfounded

No fewer than 74 Civil Society Organizations, CSOs, under the auspices of Coalition of Civil Society Organization of Nigeria, COCSON, Tuesday, backed stance of the management of the Nigerian Maritime Administration and Safety Agency, NIMASA, against Femi Falana, SAN, over alleged claim of acquisition of properties abroad by NIMASA.

COCSON made its position known during a press conference held in Abuja, where leaders of the CSOs expressed disappointment of the accusations made by Falana.

This was contained in a statement signed by some of the leaders including President Transparency & Accountability Group,
Comrade Ayo Ologun; Executive Director, African Leadership Strategy and Transparency Development Initiative, Comrade Nelson Ossaieze; President
Ijaw Youth Assembly, Comrade Dabara Dagogo; The Convener, Centre for Public Accountability, Femi Lawson; President Arewa Youth Congress, Nura Alkali; Convener, Transparency Initiative Project, Yemen Ngutor; and Executive Director, Pan African Society for Social and Economic Change Secretary COCSON, Basah Mohammed.

According to them, after a thorough investigation which COCSON had “contracted an independent investigator whose primary Term of Reference was to investigate the accusations made by the respected Femi Falana, SAN against the management of NIMASA that it recently acquired no fewer than three properties in England, UK.”

“We want to state today that the report from the investigation has been turned in, we also want to state that other person who were consulted in this matter has unanimously agreed that the accusations are false since.

“We want to state for the record that it is a public knowledge that the agency has not acquire any property abroad for the past 30 years.

“It is important to state categorically that NIMASA is one of the agencies of government which has good administration and high level of integrity. They have also displayed a high level of compliance to the extant laws guiding its operations.

“While we don’t want to join words with the learned silk, we indeed appreciate his opinions on topics of public concern but it is obvious that he may have been misguided by other persons on this matter.

“The NIMASA DG, Dr. Bashir Jamoh for the record is known for his proven track records in the NIMASA which is devoid of any form of corruption and scandalous act.

“Dr. Jamoh, since his appointment has shown that he is a round peg in a round hole. Since his emergence, he has identified some of the problems in NIMASA and has successfully put in place solutions.

“Also, The accusations of nepotism, mismanagement of funds and awarding fictitious contracts against Dr. Bashir Jamoh, is false and baseless. As a matter of fact, employment under Jamoh has been transparent and devoid of any manipulation. Jamoh as a person has refused to directly get involved in employment.”

However, in strong terms, the 74 CSOs said,”We are therefore appealing to those engaging in such smear campaign to desist from such acts and allow the DG of NIMASA to concentrate on his duties.

“We also enjoin individuals and other Anti-corruption Vanguard, to carry out there personal investigation on the credibility of these claims.”

CSO Tackles Politicians Seeking to Dethrone Akpabio

Guardians of Democracy and Development, a civil society organisation (CSO) that promotes good governance and policy reforms has raised alarm over what it described as the unbridled ambition of some politicians who are tirelessly working to dethrone and succeed Senator Godswill Akpabio, the current Senate Presidency.

In a statement signed and made available to journalists in Abuja by the National Coordinator, Amb. Joseph Ovie, the group described as malicious and mischievous covert plots to sponsor protests and media wars to discredit the person of the Senate President.

According to the statement, “we have gotten credible intelligence to the effect that a former governor of one of the South South states and erstwhile National Chairman of the All Progressive Congress who is interested in becoming the Senate President has decided to go through the backdoor, seeking to bring the integrity of Senator Godswill Akpabio to disrepute in order to warrant an impeachment and a possible takeover by him. This is uncharitable and undemocratic. It is therefore our position that whoever is involved should desist forthwith or face the wrath of Nigerians”.

The group equally frowned at the manner in which some politicians with and groups with vested interests have mischievously taken the genuine and patriotic utterances of the Senate President out of context and are using it to blackmail him, insisting that Nigerians are too educated to fall for such infantile schemes.

“Twisting innocent comments and facts out of context to ridicule and embarrass a renowned leader like Senator Godswill Akpabio will not work. Nigerians know the leaders that care about them and Akpabio is one of them. The fact that he stood with the masses and refused the passage of an anti-people legislation should be praised. ‘Let the poor breath’ was simply a sympathetic posture towards the masses against suffocating laws. We find it disturbing that people can see the truth but choose to be mischievous”, the statement added.

The CSO also charged those who are misled and sponsored to spread falsehood against the Senate President including reference to none existent cases of corruption and a baseless claim of insensitivity regarding the disbursement of holiday packages for Senators for the benefit of their constituents to refrain from allowing themselves to be used as means to an end.

“It is shameful that even in the twenty first century where it is easy to access credible information, some person’s have decided to be gullible. Senator Godswill Akpabio has no court cases against him anywhere. Senator Akpabio has served the country credibly both at the state and national level and no amount of name-calling and allegations will diminish his political stature. Those intimidated by his growing influence and power should work on being relevant rather than seeking to run an innocent man down with non-existent allegations”, the statement added.

The group finally called on Mr. President and all security agencies to do everything within their powers to thwart the criminal efforts of some failed politicians who cannot even control politics in their home states and have been disgraced nationally out of office from heating and distabilising the polity. The group finally urged Senators and indeed all Nigerians to support the Senate President who is a strategic ally of President Bola Ahmed Tinubu “for an efficient administration and sustainable development of the country”

PHILIP SHAIBU: THE YOUTH GOVERNOR!

By Assin Godstime

The fate of who replaces the present Governor of Edo State will be revealed by November 2024. Several persons have shown interest in succeeding Edo State Governor Godwin Obaseki, including his deputy, Comrade Philip Shaibu, whom I have dubbed “The Youth Governor” in this piece.

Shaibu, comrade and politician, is one of the most refined politicians from Edo State. Just days ago, while watching the highly competitive match between the protagonists Bendel Insurance (Nigeria) and the antagonists Aso Chief of Algeria, I was moved to openly support Comrade Philip Shaibu, whom God used to restore Bendel Insurance to its glorious days when the club dominated continental football.

I recalled notable players such as Wilson Oruma and Osaze Odewingie, who reached the pinnacle of their careers thanks to Bendel Insurance.

Regardless of sentiment, the attention Bendel Insurance is receiving from the State government and the general public would not have been conceivable if Philip Shaibu had not voluntarily committed himself to freeing the club from its slumber.

Shaibu doubles as a freelance Bendel Insurance player as well as Deputy Governor of Edo State. He is the only Insurance player that does not receive payment.

Aside from restarting Bendel Insurance, Shaibu personally connects with Edo State youngsters. Unlike past Deputy Governors, he has officially welcomed many young people in the State. We have witnessed him support Edo State’s budding comedians and singers, including Edo Pikin, Casino, Nas T, Mc Obaro, Da Saint, and many others.

However, there is one area in which he and his principal have failed miserably: their deliberate disregard for creative writers. I had personally informed him of this. Edo State has the highest concentration of creative authors in the South-South. When fully supported, Edo State’s creative skills have the potential to host a national convention of the Association of Nigerian Authors, ANA, to do more research and give educational assistance. Comrade Taiwo Akerele, a former Chief of Staff to Governor Godwin Obaseki, previously led the ANA Abuja section.

Shaibu might promptly check into the field of creative authors I just proposed in my binoculars to further smoothen the already existing relationship between him and youngsters since more of the Edo State creative writers are youths. This will help the State’s intellectual rebranding. This author belongs to the Association of Nigerian Authors, Edo State branch.

Shaibu is adaptable, bright, smart, and approachable. His accessibility and listening ears are two qualities that young people like. If you call him or send a text message to his phone, he will respond. Shaibu admires and enthusiastically encourages young people. He hasn’t forgotten that he was elected to the Edo State House of Assembly as a youth and a brief notable tenure in the House of Representatives as a young man. Yet, as a young man, he was chosen Deputy Governor.

Shaibu is a go-getter, a steadfast warrior who is prolific, competent, and resourceful. His knowledge and background would be beneficial as Governor in 2024. Regardless of Senatorial District, Shaibu should be encouraged to succeed his principal, in my opinion, and this is my viewpoint and request.

2023: Shaibu responsible for PDP sterling performance in Edo North – Chieftain

Despite attempts in recent times to paint the Deputy Governor of Edo State Rt. Hon Philip Shaibu with poor political performance during the February 2023 Presidential election, voices have risen in his defense.

A PDP chieftain in Edo North, Chief Moses Aimiomode, has explained that the 2023 Presidential election in Edo State shows that the PDP won more votes in Edo North under the leadership of the Deputy Governor, Rt. Hon. Comr. Phillip Shaibu more than in previous elections.

According to him, based on the various reports available at INEC, it has become important to evaluate the performances of the PDP in all the senatorial districts in the state based on their achievements during the last election.

In Edo South, where all the government projects are domiciled and very visible, the PDP lost woefully to other political parties. it was annihilated, leaving all the heavyweights with less than 10% of the total votes cast during the presidential election.

Similar circumstances played out in the Edo Central senatorial district. The PDP was overwhelmed and defeated very disgracefully. The inherent consequence of the balkanization of the party led to the colossal failure.

It is important to note that the Deputy Governor, Rt. Hon. Comr. Phillip Shaibu, even though there is no visible project from the present administration in Edo North was able to ensure that the PDP scored above the required 25% owing to his political antecedent.

Recall that the constituency projects the Deputy governor attracted to Edo North while he was in the House of Assembly and the National Assembly before he became the Deputy Governor has endeared him to his people, hence the goodwill shown to the PDP, despite the overwhelming presence of Senator Adams Oshiomhole, and others in the field. This indicates the subsisting political asset of the Deputy Governor, although there are no visible projects executed by the current administration in the region.

Chief Aimiomode included that “we appeal to all warring factions to sheath their swords in the interest of peace. The abysmal performance of this administration in the last elections, combine with the prevalent polarization of the already balkanized party, the next year’s election will be foreclosed for PDP except there is full reconciliation of all factions”.

Expo boosts China’s cooperation with South and Southeast Asian countries

By Yang Wenming, Li Maoying, People’s Daily

The seventh China-South Asia Expo, themed “Solidarity and Coordination for Common Development,” kicked off on August 16 in Kunming, southwest China’s Yunnan province.

The five-day expo features 15 exhibition halls and 14 activities, covering all South Asian and Southeast Asian countries as well as member states of the Regional Comprehensive Economic Partnership (RCEP).

Since its inauguration in 2013, the China-South Asia Expo has been permanently settled in Kunming. It has grown into an important platform for economic and trade cooperation between China, South Asian and Southeast Asian countries over the years.

An international trade enterprise cluster park of China (Yunnan) Pilot Free Trade Zone has already attracted 24 human resource companies. Chang Jixing, head of the human resources and social security bureau of Guandu district, Kunming, visits the park every day.

“Since international trade is expanding with each passing day, we must make plans for foreign trade talents beforehand,” Chang said.

A few days ago, a business delegation from Sri Lanka visited the park. Attracted by the huge potential of the Chinese market, visitors kept asking questions to the executive of the park, in an attempt to cooperate with Chinese companies with Sri Lankan jewelry and black tea.

When experiencing livestreaming in the park, members of the delegation were full of praise for the brand-new studio, which is brimming with ethnic decorative elements and equipped with advanced facilities.

“The China-South Asia Expo is not only a stage for us to display commodities, but also a platform for us to make friends with Chinese foreign trade companies,” a member said.

On August 4, the first batch of 59 exhibits of the expo entered the exhibition halls under the supervision of local customs officers.

“All the exhibits of this year’s event were declared through integrated national customs clearance procedures, which has reduced logistics costs for enterprises and ensured quick customs clearance and on-time display,” said Fu Yu, customs declaration manager of Yunnan Easy-trans International Freight Forwarder Co., Ltd.

In 2013, when the first China-South Asia Expo took place, the total trade value between China and South Asian countries was less than $100 billion. In 2022, the figure approached $200 billion, representing an average annual growth rate of 8.3 percent in ten years.

China has been the largest trading partner of Pakistan, Bangladesh, Maldives and other countries for many consecutive years.

Many products from South Asian countries, including aquatic products, tea, and nuts, enjoy great popularity among Chinese consumers, with exports to China continuously rising.

In January 2018, representatives of China and Sri Lanka jointly pressed the launch button, marking the official completion and delivery of the Moragahakanda Dam. Undertaken by PowerChina Sinohydro Bureau 14 Co., Ltd., this dam is Sri Lanka’s largest water conservancy hub project.

Previously, the surrounding areas of the dam frequently suffered power outages and flooded farmland during rainy seasons. Since the dam was built, the locals have enjoyed a stable electricity supply and seen continuous improvement in their lives.

The Moragahakanda Dam epitomizes how China-invested projects have contributed to the development of South Asia. According to the latest data from China’s Ministry of Commerce, by July 2023, China’s cumulative investment in South Asia reached nearly $15 billion, and the turnover of completed projects contracted by Chinese companies in the region exceeded $200 billion.

The opening of the China-Laos Railway has made railway transportation more convenient, while aviation and other comprehensive transportation networks have become increasingly smooth.

In an effort to better serve foreign participants in the China-South Asia Expo, China Eastern Airlines launched a new air route linking Kunming and Kathmandu, Nepal, further strengthening exchanges between China, South Asian and Southeast Asian countries. It also increased the frequency of flights between Kunming and Bangkok, capital of Thailand, as well as flights between Kunming and Colombo, capital of Sri Lanka.

China and South Asia accounted for one-fifth of the world’s total economy, representing one of the most fastest-growing and dynamic regions in the world with active trade and investment, and enormous potential for cooperation.

Under the framework of the Belt and Road Initiative (BRI), the China-Pakistan Economic Corridor project is moving forward steadily, the Gwadar Port in Pakistan and the Hambantota Port in Sri Lanka have driven the upgrading of local industries, and cooperative projects such as the airport reconstruction and expansion projects in Nepal and the Maldives have gained results.

These projects vividly show China’s tangible contributions to the development of South Asian countries and regional connectivity.

China and South Asian countries have firmly stood together, helped each other and overcome difficulties in solidarity, no matter in the face of natural disasters like earthquakes and tsunamis, or global challenges such as international financial crisis and the COVID-19 pandemic.

Organizing major exhibitions demonstrates China’s commitment to opening up

By Li Dawei

China has demonstrated its firm support for trade liberalization and economic globalization by forging many platforms for opening up and cooperation, including the China International Fair for Trade in Services (CIFTIS) and the China International Import Expo (CIIE).

The successful hosting of events such as the CIFTIS and the CIIE in recent years has strongly promoted connectivity and sharing of elements and resources between domestic and international markets, showing China’s unswerving commitment to expanding opening up.

Major exhibitions offer important platforms for enterprises across countries to showcase quality products and services. This can lower transaction costs between businesses and address information gaps, thereby facilitating economic and trade cooperation.

Despite myriad challenges, China successfully hosted a series of major international exhibitions including the CIFTIS and the CIIE, amid the pandemic.

This fully reflects the country’s adherence to the concept of committing itself to openness to meet development challenges, foster synergy for cooperation, build the momentum of innovation, and deliver benefits to all.

Most importantly, China underscores imports at these exhibitions, highlighting its allegiance to the concept of mutual benefit and win-win cooperation through expanding opening-up and turning the enormous domestic market into enormous opportunities for the world.

These platforms have become vital channels for exporters globally to access the Chinese market, explore investment and partnership opportunities, and gain insights into China’s economic development.

They are evolving into venues for launching new products worldwide, releasing cutting-edge technologies, and introducing groundbreaking services.

Platforms such as the CIFTIS and the CIIE have evolved into vital bridges and bonds linking China with the rest of the world, serving as comprehensive open platforms for sharing.

At the 2022 CIFTIS, 7 summit forums, along with over 100 specialized forums and industry conferences were convened. Throughout these events, business leaders and experts engaged in discussions on cutting-edge topics, sharing their latest perspectives and insights, and contributing their wisdom and commitment toward advancing global economic and trade growth.

The 2022 CIFTIS comprehensively showcased China’s innovative accomplishments in trade in services, realizing a total of 1,339 deliverables.

The 5th CIIE saw the participation of 145 countries, regions and international organizations. During the event, 24 parallel sessions of the Hongqiao International Economic Forum were held. A total of $73.52 billion worth of tentative deals were reached for one-year purchases of goods and services during the 5th CIIE, up 3.9 percent from the 4th CIIE.

High-quality products from different countries, including rose essential oil made in Damask, Syria, Himalayan salt lamps from Pakistan and alpaca-fur products from Peru, as well as high-tech products such as AI-enabled cleaning robots and intelligent color toners, entered the Chinese market through the CIIE, providing diverse choices and improving user experiences for Chinese consumers.

Amid the uncertainties pervading the current international landscape, countries widely believe such open platforms inject certainty into China’s pursuit of shared growth with the world.

These platforms assist China in deepening reforms, raising the quality of its opening-up efforts and upgrading domestic consumption and industries by aggregating top-tier goods, businesses, and resources globally.

They also enable more countries, especially developing ones, to further integrate into the global economy, promoting win-win cooperation.

The business exhibition at the 5th CIIE attracted over 2,800 enterprises from 127 countries and regions, including 284 Fortune 500 firms and industry leaders. This fully demonstrates CIIE’s sterling reputation among the world’s major corporate groups.

Countries including the UK and Malaysia are planning to send high-level delegations to participate in the 2023 CIFTIS.

Countries such as Germany, Uruguay, and Myanmar, as well as international organizations like the UNESCO and the World Meteorological Organization(WMO), will establish online and offline exhibitions under the name of their respective governments or headquarters.

Resuming offline for the first time since COVID-19, the National Exhibition at the upcoming 6th CIIE has already received confirmations of offline participation from over 50 countries and international organizations.

As China continues to share the substantial opportunities of its economic growth with the world, the global sway of high-profile exhibitions will keep expanding, infusing powerful impetus into the continued progression of economic globalization.

(Li Dawei is Director of the Emerging Economies Research Office, the Institute of International Economic Studies of the Chinese Academy of Macroeconomic Research)

The future of New Development Bank’s contribution to BRI and green finance initiatives

Dilma Vana Rousseff

The New Development Bank (NDB) is a product of the further maturation of the BRICS cooperation mechanism: the initiative to set up a multilateral development bank was first put forward at the fourth BRICS leaders summit in New Delhi in India in 2012, and consensus was reached on at the sixth BRICS summit in Fortaleza, Brazil 2014.

At both meetings, I was president of Brazil. Under the theme “Sustainable solutions for inclusive growth,” the five BRICS countries announced the signing of the agreement on the New Development Bank in Brazil in 2014. In 2015, the BRICS’s NDB was formally established, focusing on the two major areas of “infrastructure development” and “sustainable development projects.” The central idea is that the NDB shall mobilize resources for infrastructure and sustainable development projects in the NDB member countries, in complement of existing multilateral and regional development financial institutions. 

Based on our strategy, sustainable infrastructure development is at the core of the Bank’s financing methodology, with about two-thirds of its lending going to projects in this area. Such projects effectively and strategically mobilize financial, and more importantly, social resources for sustainable infrastructure development of emerging markets and developing countries (EMDCs), in the fields of green recovery and inclusive economic growth. In addition, taking into account the specific period of history that we are in, post-COVID-19 recovery and climate change are by nature also at the core of the Bank’s vision. Furthermore, the Bank’s concept of development is based on the understanding that always must be sustainable and inclusive.

It is, also, highly-relevant to mention that, the NDB strategy is grounded on the understanding of challenges faced by globalization in recent years.  Various crises have been shaking the process of globalization. The future of political globalization is at stake, and global economic relations are being reshaped. Rules and practices of international trade and finance are being fundamentally rewritten and transformed in ways history has never seen. Linkage in science and technology between Asia, North America, Latin America, Africa and Europe, which has been strengthening over the past three decades, is also going through a dramatic process of reshaping. Such changes impose grave risks on the world’s stability and prosperity. If not managed efficiently and sufficiently, such risks may well be both reasons and results of global political polarization. As a result, the world economy will be disintegrated into blocs. The world economy is threatened by all kinds of protectionism currently and maybe in the coming years. The objective of economic protectionism is economic hegemony, and it also means to suppress and contain the emerging economies. For these economies, this will lead to reduction of political space for their activities and the shrinking of margin for growth.

In reality, the threat of unilateralism and protectionism is posing many challenges to developing countries. The weaponization of sanctions and the “long arm of jurisdiction” do not solve any problems, but only create more difficulties and inequalities of opportunity for economic growth and social development, affecting the growth prospects of the world economy.

In that context, as an important participant in the new international financial architecture, the NDB is committed to prioritizing the use of local currencies for financing, while at the same time mobilizing funds in a wide range of currencies and markets.

The NDB also is dedicated to devising solutions, to address the mismatch between project cash flows and the needs of sustainable infrastructures in EMDCs and the NDB is aiming at financing in a targeted and customized manner, helping the emerging economies not only to gain economic growth, but most importantly, to achieve economic inclusiveness.

In order to counterplay and mitigate the weakening of globalization, the NDB and Belt and Road Initiative (BRI) join forces to create, develop and strengthen regional markets in EMDCs, to support and foster multilateral cooperations.

Within this scenario, the proposition of the BRI is an excellent example of aligning infrastructure projects with economic growth and social inclusion. The essential linkage between the NDB policies and the BRI is that the NDB not only provides financing and overcomes market failure, but also promotes technological progress and innovation demonstration. Both the NDB and the BRI through its projects have strengthened infrastructure in partner countries, helping them pursue their development goals and bolster their industry, value, and supply chains.

When we understand the BRI in its essence we realize that the BRI is not only about building roads, railways, ports, dams and other infrastructure facilities, but rather a major global opening up initiative that creates a new international cooperation platform. On the one hand, the BRI has helped build hundreds of industrial parks around the world and also facilitated the development of e-commerce through the digital silk road in different regions and countries, and promotes green development. On the other hand, the BRI is helping a large part of the global economy to shift to the green development path. The BRI focuses on planning and building large-scale infrastructure development projects; improving connectivity: facilitating cross-border trade and investment in different regions of the world; boosting cooperation among economies and increasing people-to-people exchange.

As we know, infrastructure financing is characterized by large up-front investment, long construction period, high political sensitivity, high professionalism, etc., which is risky, and privately financed infrastructure projects are prone to insufficient funds and face the dilemma of “market failure.” In addition, sustainable infrastructure financing also faces special risks and obstacles, including political and institutional factors, economic factors, market environment factors and project-level factors, etc. The provision of preferential funding by the NDB is conducive to overcoming market failure and obstacles to sustainable infrastructure financing, it therefore plays a leveraging role in attracting social capital into the fields of sustainable infrastructure investment and financing. I believe the NDB and the BRI share the same vision in this sense.

In essence, sustainable infrastructure construction and development require the promotion of technological progress and innovation demonstration. At present, the technological level of sustainable infrastructure in countries along the Belt and Road is relatively moderate and, they are striving to foster innovation as one of the core elements of the initiative. At the same time, the investment uncertainty and risk of technological obsolescence associated with technological innovation also make countries along the Belt and Road face a larger financing gap in this area than in general infrastructure. The degree of development and utilization of new technologies is an important criterion for the NDB to select sustainable infrastructure projects. Multilateral development banks take into great consideration the political and economic influence of multilateral sovereign governments, to promote demonstration projects for technological innovation in order to leverage investment in innovation.

Based on these settings, the NDB is entering a new momentum by welcoming new members such as Bangladesh, the UAE, Egypt and other members that are part of the BRI that may join. As the name “New Development Bank” suggests, the NDB, with its innovative mission and business model, has become an active force in promoting South-South cooperation and it is already a vital instrument that promotes new initiatives such as the BRI. Nearly 100 projects have been implemented by the NDB in a total investment of $32.8 billion. These successful investments in infrastructure projects have contributed to the rapid development of green finance in countries that are important nodes of the Belt and Road strategy.

Finally, the NDB are working hand in hand with several Belt and Road countries to contribute to a more inclusive and innovative global development.

Dilma Vana Rousseff is the president of the New Development Bank.

CSOs Condemn Unrest in South-East, Calls for Calm

A coalition of civil society organisations has charged security agencies in the country to urgently put an end to any counterproductive policy, programmes or pronouncements from any non-state actor in
the South-East region.

The group addressing a press conference in Abuja on Monday, the CSOs said the continued activities of non-state actors in the region has caused human and economic losses.

President of the National Youth Council of Nigeria, Solomon Adodo who spoke on behalf of the CSOs, warned that the recent declaration of an Economic Empowerment Day in the South East Region could snowball into another security crises such as the sit-at-home observed every Monday in the region which brought about economic stagnation, increased violence, loss of life, and irreversible damage.

He said: “It has become highly imperative that these dastardly developments that are retrogressive be condemned and all appropriate measures emplaced to halt and reverse same.

“We must alert the public, the security agencies and indeed the International community that all the signs and trappings of the Boko Haram terrorism and sundry menace of terrorism in the Northeast have sadly become evident in the tragic developments in the Southeast. This must therefore be arrested immediately and firmly so”.

“Of significant concern has been the enforcement of the Sit-at-Home order by the Indigenous People of Biafra (IPOB) and its affiliates, causing severe economic disruption and social unrest in the South-East. This policy, the coalition observed, has not only stifled businesses but also kept potential investors and tourists away, leading to dire economic consequences. Lamenting the worthlessness of the sit-at-home, the Coalition called “for an end to such counterproductive policies and the rejection of any non-state actor-driven programs or pronouncements.”

He further noted, “it has come to our notice that Mazi Nnamdi Kanu has also announced the cancellation of the forced Sit-at-Home in the South-East on Mondays or any other days. While we welcome that, we equally reject his declaration of Economic Empowerment Day. This is another veiled threat to the Nigerian State and particularly a sniffling of the freedom of the people of the Southeast.

“The Economic Empowerment Day and its accompanying activities also has the potential to snowball into another security crises in the geopolitical zone. After all, sit-at-home began as a voluntary activity till it became a compulsory one, foisted on a hapless people and executed by daredevil terrorists. This veiled aggression must therefore be nipped in the bud even before its seeds of discord are planted.