News
FG Earns $ 296, 143 Dividends from IsDB
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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NACCIMA Champions Direct Nigeria–China Flights to Unlock Billions in Trade and Investment
The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has intensified efforts to strengthen Nigeria–China economic relations, with its National President, Engr. Jani Ibrahim, making a powerful case for direct flight operations between both countries. Speaking at the NACCIMA Business and Investment Forum on April 29, 2026, in Guangzhou during the 139th Canton Fair, Ibrahim declared that direct flights would be a game-changer for trade, investment, and industrial collaboration.
He stressed that seamless air connectivity would not only ease travel for business leaders and investors but also accelerate industrial partnerships, technology transfer, and investment flows. With China’s zero-tariff policy on imports from African countries, Ibrahim noted that Nigeria has a golden opportunity to expand its non-oil exports, diversify its economy, and strengthen its role in global trade.
The forum itself was historic. Organized in collaboration with the China Chamber of International Commerce, it brought together leading Chinese investors, Nigerian business executives, and policymakers for strategic discussions. A successful B2B matchmaking session culminated in the signing of a Memorandum of Understanding (MoU), institutionalizing the forum as an annual platform for advancing Nigeria–China economic relations.
Beyond the forum, the NACCIMA delegation actively participated in the Canton Fair and embarked on industrial tours to major Chinese companies, including Wanli Tire Corporation Limited, Guangda Shoes Factory, and Guangzhou Autoworld Export Base. These visits reinforced NACCIMA’s commitment to fostering industrial cooperation, promoting technology transfer, and building long-term investment partnerships.
The push for direct flights is more than a logistical appeal—it is a strategic move to redefine Nigeria–China relations. By bridging geographical barriers, both nations stand to unlock unprecedented opportunities in trade, investment, and industrial growth. For Nigeria, this initiative represents a chance to expand its export base, attract foreign investment, and position itself as a key player in Africa–Asia economic integration.
This bold advocacy by NACCIMA marks a turning point, positioning Nigeria not just as a participant but as a proactive architect of stronger global trade relations.
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Senator Bwacha Submits PDP Gubernatorial Nomination Form, Declares Intent to Lead Taraba
SENATOR Emmanuel Bwacha, representing Taraba South Senatorial District, has formally submitted his nomination and expression of interest forms to the Peoples Democratic Party (PDP), officially declaring his intention to contest the governorship of Taraba State. The submission marks a landmark moment in the state’s political calendar, greeted with enthusiasm by supporters who thronged the PDP secretariat to witness the historic occasion.
In what many have described as an unprecedented show of grassroots energy, the Bwacha Youth Movement had earlier stormed the PDP secretariat to purchase the gubernatorial forms on the Senator’s behalf — setting the tone for what is shaping up to be one of the most energised political campaigns in Taraba’s recent history. Rather than leaving the purchase to a formal campaign structure or political benefactors, it was the youth who stepped forward, sending an unambiguous message that this candidacy belongs to the people. Their bold gesture has since ignited excitement across the state, drawing attention to a movement powered not from the top down, but from the ground up.
A seasoned lawmaker whose political journey spans the Taraba State House of Assembly, one term in the Federal House of Representatives, and an impressive three terms in the Nigerian Senate — where he also served as Deputy Minority Leader — Senator Bwacha stands today as one of the most experienced and battle-tested legislators ever produced by Taraba State. His formal entry into the governorship race is seen by many analysts as the natural progression of a career built entirely on service, sacrifice, and a deep commitment to his people.
“We are not here for politics of sentiment. We are here because we have seen what Senator Bwacha has done for our communities, our families, and our future. Today, we are investing in that future,” declared a spokesperson for the Bwacha Youth Movement, to thunderous applause from supporters gathered at the secretariat.
Senator Bwacha’s emergence as a gubernatorial aspirant comes at a time when Taraba State is at a crossroads, grappling with development deficits, security challenges, and a deep yearning among citizens for purposeful, accountable leadership. His backers argue that his extensive legislative record provides precisely the blueprint the state needs at the executive level.
Among his most celebrated interventions is the rehabilitation of the Donga–Mararraba road — a critical artery that had long been a source of daily misery for farmers, traders, and commuters across the senatorial district. The completion of that road is credited with reviving commercial activity along the corridor and significantly reducing post-harvest losses for rural farming communities.
Rural electrification stands as another enduring pillar of his senatorial legacy. Communities including Nyivo, Kumbu, Nyitan, and Mararraba — long neglected in the state’s power distribution grid — received electricity through the installation of over 20 transformers. Alongside this, Senator Bwacha oversaw the construction of 53 solar-powered boreholes, bringing clean, reliable water to communities that had for decades depended on unsafe sources.
In education, he equipped science laboratories at the Federal University Wukari, donated a utility bus to the institution, and established ICT centres to bridge the digital divide. His scholarship scheme has supported over 260 indigent students, ensuring that financial hardship does not become a barrier to academic excellence.
Youth empowerment has been equally central to his tenure. Through the National Directorate of Employment (NDE), he secured over 500 federal job placements and trained more than 750 young people through vocational programmes — directly addressing unemployment among a demographic that now champions his gubernatorial bid.
On healthcare, Senator Bwacha established a well-equipped primary healthcare centre in Mararraba, with dedicated maternal and child health services. Security interventions include the creation of new police divisions in Donga and Mararraba, the donation of operational patrol vehicles to law enforcement, and the installation of solar streetlights in Takum and Wukari — measures residents credit with improving safety and reducing nighttime criminality.
Political observers in Jalingo note that the combination of a robust legislative record spanning multiple chambers and an organic, youth-powered movement is a formidable political equation. The Bwacha Youth Movement’s decision to purchase the nomination forms represents a rare dynamic in Nigerian politics — a candidate propelled not by godfathers, but by the very people he has served.
As the PDP advances its internal processes ahead of the governorship election, Senator Emmanuel Bwacha now stands formally in the race — not merely as a candidate, but in the eyes of his supporters, as a covenant with the people of Taraba State.
For the youth who purchased his forms and the thousands who gathered to witness his submission, Wednesday’s events were more than a political formality. They were, in the words of one young supporter, “a down payment on the future we deserve.”
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Hon. Hamma Adama Ali Kumo Applauds APC Consensus, Declares Full Support for Dr. Jamilu Gwamna and Governor Yahaya’s Senatorial Bid
Hon. Hamma Adama Ali Kumo, National Deputy Financial Secretary of the All Progressives Congress (APC), has congratulated Dr. Jamilu-Isiyaku Gwamna on his emergence as the party’s consensus governorship candidate for Gombe State ahead of the 2027 general elections.
In a statement issued in Abuja, Hon. Kumo described Dr. Gwamna as “a visionary leader, accomplished technocrat, and grassroots mobilizer whose credibility and capacity will strengthen the APC’s position in Gombe.” He noted that the consensus arrangement reflects the party’s commitment to unity and inclusiveness, adding that it is a step toward consolidating APC’s achievements in the state.
Hon. Kumo called on all aspirants who contested for the governorship ticket to rally behind Dr. Gwamna, stressing that collective effort is essential for the APC to secure victory. “Every aspirant remains a vital pillar of our party. By joining hands with Dr. Gwamna, we can ensure APC’s continued dominance and deliver progress for the people of Gombe,” he said.
He further commended Governor Muhammadu Inuwa Yahaya for his exemplary leadership, which has brought peace, infrastructural development, and political stability to Gombe State. Hon. Kumo emphasized that the governor’s guidance was instrumental in the smooth adoption of consensus candidates, describing him as “a leader whose vision has transformed Gombe and whose legacy will endure.”
Hon. Kumo also reaffirmed his support for Governor Yahaya’s senatorial aspiration, expressing confidence that his wealth of experience will bring quality representation to the National Assembly. He noted that Yahaya’s senatorial bid complements Dr. Gwamna’s governorship candidacy, creating a formidable team to advance APC’s mission in Gombe.
Concluding his remarks, Hon. Kumo urged party members, stakeholders, and the electorate to remain steadfast in their support for APC candidates, assuring that with unity and determination, the party will deliver victory and sustain progress in Gombe State.
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