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FG Earns $ 296, 143 Dividends from IsDB

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By Joseph INOKOTONG
Nigeria, the fourth largest shareholder in the 57-nation Islamic Development Bank Group (IsDBG), has been allocated the sum of US$296, 143 as dividend from the profit earned by the Islamic Corporation for the Development of the Private Sector (ICD) in 2016, but would be converted into shares.
The document containing the resolutions of the 42nd annual meeting of the Board of Governors of the Bank released to the public, indicates that US$16, 083, 362 million worth in shares shall be allocated from the unallocated shares to member-countries as their dividend .
Nigeria’s overall shareholding in the IsDB Group is 1.68 per cent, surpassed so far only by the shareholdings of Saudi Arabia, Kuwait, Libya and the Islamic Republic of Iran. The least shareholding member of the Bank is Kyrgyz Republic with 643 units, which was classified as 0.00 per cent on the shareholding table of the Jeddah-based financial institution.
The resolutions further indicate that public Financial Institutions that own shares in ICD would receive dividend payments in cash to the tune of US$1, 564, 000 million payable within three months from the date of the resolution.
A statement signed by Salisu Na’Inna Dambatta, Director of Information said
the Nigerian delegation to the just-ended 42nd annual meeting of the Bank had during a business meeting with the IsDBG Vice-President for Operations, Nigeria’s former Minister for Finance, Dr. Mansur Muhtar, urged the Bank to fast-track the implementation of ongoing projects being funded by the Bank in the country.
Similarly, Nigeria called on the Bank to conclude preparations and commence the implementation of pending projects approved by the Bank.
Permanent Secretary in the Federal Ministry of Finance, Dr. Mahmoud Isa-Dutse who led the delegation as representative of the Minister of Finance, Mrs. Kemi Adeosun, described the meeting as fruitful, where the position of the country was explained and mutual understanding reached between both sides.
While expressing appreciation for the support and cooperation Nigeria is receiving from the Bank, the Permanent Secretary reminded the Bank of the request made by President Muhammadu Buhari in 2016 to harness efforts and resources for the reconstruction and recovery of the North East in collaboration with the World Bank and the African Development Bank.
The Islamic Development Bank has provided loan facilities for a number of on-going projects in some States of the Federation, including the construction and equipping of four science secondary schools in Osun State and water supply projects in Zaria and Ilesha, among others.
Nigeria and the Bank are negotiating financing for the construction of the Second Niger Bridge on the Private Public Partnership (PPP) model.
The delegation sought the extension of intervention by the Bank to include financing for energy and road construction projects under its Private-Public Partnership scheme.
The Islamic Corporation for the Development of the Private Sector (ICD), a subsidiary of the Bank, is involved in corporate and infrastructure financing for innovation, job creation and access to clean energy, affordable housing, quality education and health care in member-countries through PPP.
It equally engages in financing individuals and Small and Medium Enterprises (SMEs) for private sector development, creation of new jobs, access to affordable housing and agribusiness development.
As the 42nd IsDBG ends, African countries have clinched four positions of Executive Directors of the IsDB and would serve from January 1, 2018 to December 31, 2020.
Those elected to the Board are Mr. Twesiim Frederic of the Republic of Uganda; Abdoulie Jallow from the Republic of Gambia; Mr. Diao Balde of the Republic of Guinea and the only woman elected to the Board, Mrs. Fouzia Zaaboul of the Kingdom of Jordan.

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177 Nigerians Deported from Niger Republic Arrive Kano.

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No fewer than 177 Nigerians deported from Agadez in the Republic of Niger have arrived at the Mallam Aminu Kano International Airport, Kano, for processing and reintegration.

Sources said the deportees arrived aboard an aircraft from Agadez at about 12:54 p.m. on Monday.

The returnees, comprising men, women and children, were received at the airport by officials of the Department of State Services (DSS), the Nigeria Immigration Service (NIS) and the National Emergency Management Agency (NEMA).

The agencies commenced documentation and profiling of the deportees as part of procedures aimed at determining their identities, states of origin and immediate humanitarian needs.

Officials said the deportees would undergo necessary screening before being handed over to relevant authorities for further assistance and reintegration programmes.

The development is part of ongoing migration and border management efforts involving authorities in Nigeria and neighbouring countries.

Further details on the circumstances surrounding their deportation were not immediately available at the time of filing this report.

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Zulum – I Will Hand Over a More Secure and Prosperous Borno to Gubio-Zulum

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Borno State Governor, Professor Babagana Umara Zulum, has assured that he will hand over a more stable, secure, and economically viable Borno to his successor, Engineer Mustapha Gubio.

A statement by Dauda Iliya, the Givernors spokrsman stated that, Zulum gave the assurance on Monday when he received prominent sons and daughters of Gubio Local Government Area, led by elder statesman Alhaji Gambo Gubio, on a visit to him.
The visit to the Government House, Maiduguri, whih included the APC gubernatorial candidate, Engr. Mustapha Gubio, was to thank the govetmor for choosing their son as successor.

The delegation which included the Chairman of the Borno State Civil Service Commission, Dr. Bulama Mali Gubio; a former member of the House of Representatives, Hon. Fanta Baba Shehu; the Executive Chairman of Gubio, Hon. Mali Bulama Mali; a retired Commissioner of Police; and former Council chairmen, was also part of ongoing consultations with the governor.
Governor Zulum, noted that despite the challenges confronting the state, particularly insecurity, his administration remains committed to consolidating on the gains achieved over the years and laying a stronger foundation for sustainable development.

“Security is the most difficult issue. Insha Allah, before I leave, the situation will be better than now. I will hand over a more stable, more prosperous, and more secure government to Engr. Mustapha Gubio, Insha Allah,” Zulum declared.

He emphasised that sustaining achievements is often more difficult than attaining them, urging continued support and prayers for the APC governorship candidate.

“What matters is not just success; managing success is more difficult than achieving success itself. Managing success and managing the affairs of Borno State is not easy, but with collective support, prayers, and guidance, God will give him the wisdom and energy to succeed as a candidate and, Insha Allah, as Governor,” he said.

Extolling the leadership qualities of Engr. Mustapha Gubio, Governor Zulum described him as a man of integrity, humility, and composure whom he has known for more than two decades.

“Alhaji Mustapha Gubio, I have known him for the past 26 years, since he was a student at the University of Maiduguri. His integrity is evident; he is humane, very gentle, and composed. Insha Allah, God will help him to steer the mantle of leadership of Borno State,” Zulum stated.

The Governor added, “We will continue to pray for our gubernatorial candidate so that the Almighty will give him the wisdom and the wherewithal to steer the leadership of the state.”

Reflecting on the challenges he encountered at the beginning of his administration in 2019, Zulum recalled the sacrifices required to confront the state’s security and humanitarian crises.

“When I took over the leadership of the state, in the first 55 days of my administration, I saw my children only three times. The first four years were really challenging, but Almighty Allah has helped us to see light at the end of the tunnel,” he said.

The Governor expressed appreciation to the delegation for the visit. “As Muslims, when we seek Allah’s guidance and pray for the best outcome, we must accept His decision with complete faith and conviction, knowing that whatever He chooses is ultimately the best for us,” Zulum remarked.

Leader of the delegation, Alhaji Gambo Gubio, commended Governor Zulum for his pivotal role in the emergence of Engr. Mustapha Gubio as the APC governorship candidate for the 2027 election.

“We are here today to express our profound gratitude and thanks for this remarkable occasion. Words alone cannot adequately convey the depth of our feelings or fully capture all that we wish to say. However, we remain sincerely grateful and deeply appreciative,” Alhaji Gambo said.

He described the APC candidate as a worthy son of Gubio and expressed confidence in his future leadership.

Alhaji Gambo also acknowledged Governor Zulum’s achievements in security, infrastructure development, and governance, noting that “Zulum is succeeding,”.

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Hon. Ja’afaru Yakubu Applauds China Harbour on Mararaba-Keffi Road Project

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Hon. Ja’afaru Yakubu, Chairman of the House Committee on Nigeria-China Friendship Relationship Group, has lauded China Harbour Engineering Company (CHEC) for the remarkable progress recorded on the reconstruction and expansion of the Mararaba-Keffi Road, urging the Federal Government to ensure prompt funding for the project’s completion.

Yakubu, who personally visited the project site to inspect the level of work done, expressed satisfaction with the quality and speed of execution. He noted that the 43.65-kilometre dual carriageway, which links the Federal Capital Territory to Nasarawa State, has reached 99.8 percent completion. According to him, the road is not only a critical infrastructure for easing traffic congestion but also a symbol of the growing partnership between Nigeria and China.

Speaking during the visit, Yakubu said: “China Harbour has demonstrated excellence and reliability in this project. Their commitment reflects the strength of our bilateral relationship and the benefits of sustained collaboration between Nigeria and China. This road will serve millions of commuters daily, reduce travel time, and open up new economic opportunities for communities along the corridor.”

The lawmaker emphasized the importance of timely release of outstanding funds under the NNPC Tax Credit Scheme, stressing that delays could hinder the final touches required before commissioning. He pointed out that President Bola Ahmed Tinubu had already directed relevant agencies to expedite payments, and urged strict compliance to ensure the contractor delivers on schedule.

Yakubu also commended the Federal Ministry of Works for adopting innovative engineering solutions, including the use of rigid concrete shoulders alongside flexible carriageways. He explained that such designs would enhance durability, reduce maintenance costs, and extend the lifespan of the highway.

In addition, he acknowledged the complementary role of Nasarawa State Governor Abdullahi Sule, whose administration has embarked on the construction of flyovers to ease traffic flow around the Keffi axis. Yakubu described this synergy between federal and state governments, supported by international partners like CHEC, as a model for sustainable infrastructure development in Nigeria.

The project, awarded in June 2023 at a contract sum of ₦73.9 billion, is expected to be commissioned by President Tinubu in July. Remaining works include kerbs, U-drains, and installation of streetlights, which Yakubu said must be completed to ensure safety and functionality.

He concluded by reaffirming his committee’s commitment to strengthening Nigeria-China relations, noting that projects like the Mararaba-Keffi Road stand as enduring symbols of friendship, cooperation, and shared progress. “This road is more than concrete and asphalt; it is a testament to what Nigeria and China can achieve together when we combine vision, resources, and determination,” Yakubu added.

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