Tony Elumelu, the chairman of Heirs Holdings, has argued that both improving security and improving access to electricity are essential to attracting investment.
Elumelu, who addressed the Taraba International Investment Summit in Jalingo on Wednesday, also emphasized the value of simple business practices in attracting investors.
“Investing in and supporting investments in the country requires a better access to electricity. At the summit organized by the Taraba State government, Elumelu stated that improving security also makes things easier and, most importantly, makes it easier to conduct business.
READ MORE: Without Local Investors, Foreigners Can’t Make Investments in Nigeria-Dangete.
He claimed that because of its numerous advantages, one of which is engaging the youth, he loves and preaches investment everywhere he goes.
He claimed that leaving school without being able to find employment is one of the best ways to empower young people. He also claimed that it is a betrayal for the younger generation.
Elumelu also praised the Federal Government under the leadership of President Bola Tinubu for maintaining currency stability, but emphasized the need to stabilize the currency further.
“I must add that one of the questions they posed to me yesterday in Doha was about money. I praised President Bola Tinubu’s Federal Government for maintaining stability, not just that the rate is high but stable.
And investors enjoy having stability to make their own decisions. Elumelu stated, “I want to see us perform well and help lower the currency further.”
Aliko Dangote, the president of the Dangote Group, gave advice to the state and federal governments on how to promote local economic development.
According to the richest man in Africa, domestic investors are the ones who will draw foreign investors because, in his opinion, no foreign investors would enter a nation where local businesses are struggling.
United States President Donald Trump announced on Tuesday that he has selected a $175bn design for the multilayered Golden Dome missile defence programme aimed at countering aerial threats “even if they are launched from space”.
As part of the project, the US would deploy missile interceptors in space to shield against ballistic and hypersonic threats.
Here is more about the Golden Dome project.
What did Trump announce?
Trump on Tuesday announced $25bn initial funding for the project that will cost $175bn and be completed by the end of his current term in 2029.
“Once fully constructed, the Golden Dome will be capable of intercepting missiles even if they are launched from other sides of the world, and even if they are launched from space,” Trump said.
“This is very important for the success and even survival of our country.”
Trump also announced that US Space Force General Michael Guetlein would be the lead programme manager, responsible for overseeing the project’s progress.
“I promised the American people that I would build a cutting-edge missile defence shield to protect our homeland from the threat of foreign missile attack,” said Trump.
Trump additionally announced: “Canada has called us, and they want to be a part of it. So we’ll be talking to them.”
What is the Golden Dome project?
Trump said the Golden Dome was made to take down “hypersonic missiles, ballistic missiles and advanced cruise missiles”, adding that the programme would have space-based interceptors and sensors.
Pentagon chief Pete Hegseth, speaking alongside Trump, said the system is aimed at protecting “the homeland from cruise missiles, ballistic missiles, hypersonic missiles, drones, whether they’re conventional or nuclear”.
The announcement comes just months after January 27, when Trump signed an executive order to “immediately begin the construction of a state-of-the-art Iron Dome missile defence shield, which will be able to protect Americans”.
The Iron Dome is Israel’s missile defence system which detects an incoming rocket, determines its path, and intercepts it. The development of the system was funded by a grant from the US.
Trump said existing defence capabilities will be used in the construction of the project, and predicted the total cost would be about $175bn.
The White House has not yet released further details about the project. While Trump said the system would be developed in the US, he has not named which companies will be involved.
A space-based defence system was first envisaged by Ronald Reagan, the Republican US president from 1981 to 1989. Amidst the Cold War, Reagan proposed a barrier to nuclear weapons that included space-based technology, as part of his Strategic Defense Initiative, or Star Wars project.
“We will truly be completing the job that President Reagan started 40 years ago, forever ending the missile threat to the American homeland,” Trump said on Tuesday.
White House Press Secretary Karoline Leavitt looks on from behind posters depicting a ‘Golden Dome for America’ [Andrew Harnik /Getty Images via AFP]
Is the Golden Dome plan feasible?
Industry experts have questioned the timeline and budget of the plan.
Funding for the Golden Dome has not yet been secured. At Tuesday’s news conference, Trump confirmed that he was seeking $25bn for the system in a tax cut bill currently moving through Congress, although that sum could be cut amid ongoing negotiations.
Additionally, some variation is expected in the total cost of the project. The Associated Press quoted an unnamed government official as saying Trump had been given three versions of the plan, described as “medium,” “high”, and “extra high”. These versions correspond to the number of satellites, sensors and interceptors that will be placed in space. AP reported that Trump picked the “high” version, which has an initial cost ranging between $30bn and $100bn.
“The new data point is the $175 billion, but the question remains, over what period of time. It’s probably 10 years,” Tom Karako, a senior fellow with the Defense and Security Department at the Center for Strategic and International Studies (CSIS), told the Reuters news agency.
On May 1, 42 Democratic members of the US Congress signed a letter questioning the possible involvement of Elon Musk’s SpaceX, which is among the top technology companies seeking to build key components of the Golden Dome.
“If Mr Musk were to exercise improper influence over the Golden Dome contract, it would be another example of a disturbing pattern of Mr Musk flouting conflict of interest rules,” the letter says.
How did China and Russia – the US’s biggest rivals – react?
The US sees a growing threat from China and Russia, its main adversaries.
Over the past decades, China has greatly advanced its ballistic and hypersonic missile technology, while Moscow boasts one of the most advanced intercontinental-range missile systems in the world. Russia and the US have amassed the largest arsenals of nuclear warheads worldwide.
The threat of drones has also grown amid advancements in technology.
China denounced the Golden Dome as a threat to international security and accused the US of prompting an arms race.
“The United States puts its own interests first and is obsessed with seeking its own absolute security, which violates the principle that no country’s security should come at the expense of others,” Foreign Ministry spokeswoman Mao Ning said at a regular briefing.
“(The plan) heightens the risk of space becoming a battlefield, fuels an arms race, and undermines international security,” he said.
The Kremlin said the Golden Dome missile shield plan was a “sovereign matter” for the US.
“This is a sovereign matter for the United States. If the United States believes that there is a missile threat, then of course it will develop a missile defence system,” Kremlin spokesman Dmitry Peskov told reporters, including AFP, on Wednesday.
Casemiro, a midfielder for Manchester United, describes this season as “one of his most successful years.”
During his nine-year spell at Real Madrid, Casemiro won 18 titles, including five Champions League victories.
Since joining United for £70 million in 2022, the 33-year-old has only won the FA Cup and League Cup.
With just one game left, United is 16th in the Premier League, but if they defeat Tottenham in the Europa League final on Wednesday, they can still win the title.
Casemiro has praised himself for working his way back into the team despite the club’s disappointing league season.
After conceding two goals in a 3-0 defeat by rivals Liverpool in September, the Brazil international split with former boss Erik ten Hag.
Casemiro was a unused substitute in nine of Ruben Amorim’s first 13 games in charge when he took over as manager in November.
Casemiro told ESPN Brasil, “One of the seasons I think I feel most proud of myself.”
“You keep working, keep doing things well, it’s been a long time since I’ve been through this,” the coach said.
Casemiro has scored 12 goals in United’s Europa League games against Athletic Bilbao and a slow start under Amorim.
At least 52 people have been killed in Israeli attacks on Gaza, medical sources told Al Jazeera, as pressure mounts on Tel Aviv to allow significant humanitarian aid into the besieged enclave to avert a looming famine.
Israeli air strikes and tank fire continued to pound the besieged territory on Wednesday. Among those killed were at least eight people in Gaza City, two people in central Gaza’s Nuseirat camp and two people in the Maghazi camp in central Gaza, according to Al Jazeera reporters in Gaza.
The attacks come after Israel began allowing dozens of humanitarian trucks into Gaza on Tuesday, but the aid has not yet reached Palestinians in desperate need.
Jens Laerke, the spokesperson for the UN’s humanitarian agency, said no trucks were picked up from the Gaza side of Karem Abu Salem crossing, known as Kerem Shalom to Israelis, in southern Gaza.
Israel announced that 93 aid trucks had entered Gaza from Israel following an 11-week blockade.
Mourners react during the funeral of Palestinians killed in Israeli strikes, at Nasser Hospital, in Khan Younis, the southern Gaza Strip [Hatem Khaled/Reuters]
Reporting from Deir el-Balah, central Gaza, Al Jazeera’s Tareq Abu Azzoum explained that most of those trucks had only received military clearance to enter the Palestinian side of the crossing.
“They are still stuck at the border crossing. Only five trucks have made it in,” Abu Azzoum said, adding, “This could be another sign of the systematic obstruction of aid in Gaza.”
Aid groups have said that the amount of aid that Israel is allowing is not nearly enough, calling Prime Minister Benjamin Netanyahu’s efforts a “smokescreen to pretend the siege is over”.
“The Israeli authorities’ decision to allow a ridiculously inadequate amount of aid into Gaza after months of an air-tight siege signals their intention to avoid the accusation of starving people in Gaza, while, in fact, keeping them barely surviving,” said Pascale Coissard, the emergency coordinator in Khan Younis for Doctors Without Borders, known by its French acronym MSF.
The Israeli military body that oversees humanitarian aid to Gaza said trucks were entering Gaza on Wednesday morning, but it was unclear if that aid would be able to continue deeper into Gaza for distribution.
A few dozen Israeli activists opposed to Israel’s decision to allow aid into Gaza while Hamas still holds Israeli captives attempted to block the trucks carrying the aid on Wednesday morning, but were kept back by Israeli police.
Israel is facing growing international pressure over its renewed offensive on Gaza.
The United Kingdom has suspended talks with Israel on a free trade deal, and the European Union said it will review a pact on political and economic ties over the “catastrophic situation” in Gaza. Britain, France and Canada have threatened “concrete actions” if Israel continues its offensive.
Pope Leo on Wednesday also appealed for Israel to allow humanitarian aid to enter Gaza.
“I renew my fervent appeal to allow for the entry of fair humanitarian help and to bring to an end the hostilities, the devastating price of which is paid by children, the elderly and the sick,” the pope said during his weekly general audience in Saint Peter’s Square.
(Al Jazeera)
Palestinian President Mahmoud Abbas on Wednesday urged world leaders to take immediate action to end Israel’s siege on Gaza, issuing the appeal in a written statement during a visit to Beirut, where he is expected to discuss the disarmament of Palestinian factions in Lebanon’s refugee camps.
“I call on world leaders to take urgent and decisive measures to break the siege on our people in the Gaza Strip,” Abbas said, demanding the immediate entry of aid, an end to the Israeli offensive, the release of detainees and a full withdrawal from Gaza.
“It is time to end the war of extermination against the Palestinian people. I reiterate that we will not leave, and we will remain here on the land of our homeland, Palestine,” Abbas said.
The trial of Sean ‘Diddy’ Combs continues today, with Homeland Security Investigations special agent Gerard Gannon returning to the stand. He is the 10th witness called by the prosecution.
The 55-year-old hip hop mogul is currently facing a number of serious charges, including racketeering conspiracy, sex trafficking by force, fraud or coercion and transportation to engage in prostitution. He was arrested in September and strongly denies all allegations made against him. He has been in prison since his arrest, and a number of bail requests have been rejected.
During his testimony on Tuesday, Gannon said he was responsible for the overall planning of the raid on the rapper’s home in Miami, Florida, in March of last year.
Gannon claimed upwards of “80-90 officers” were involved in the Miami raid due to the size of the mansion and security measures. During the raid, HSI retrieved multiple items, including platform heels, personal lubricant, baby oil, guns, bullets, and more.
Cassie’s mother, Regina Ventura, was among the people who gave evidence. Cassie’s mother made a heartbreaking claim in court, telling the jury she took out a loan to pay Combs as she feared for her daughter’s safety. Diddy’s former assistant, David James, also testified, claiming saw the rapper take drugs and provided him with baby oil, lubricant and condoms for his hotel rooms
Kid Cudi, real name Scott Mescudi, is also expected to testify.
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Zara Woodcock
Recap from Day 7 (Tuesday)
(Getty Images)
On Tuesday, former assistant to Diddy, David James, said he witnessed the music mogul use drugs before describing his role in stockig hotel rooms for the rapper as well as being subjected to lie detector tests and a search.
Cassie’s mother, Regina Ventura, also testified and said her daughter started visiting her less frequently when she started dating the hip-hop star. She also “memorialised” her daughter’s abuse by taking photos of her bruises. She even said she took out a loan to pay Diddy $20,000 he asked from her.
Meanwhile, a male escort, Sharay Hayes, took the stand and outlined his role in “creating a scene, a sexy scene, that was enjoyable” with Cassie and Diddy.
Special agent Gerard Gannon also spoke about the Miami raid of Diddy’s house and detailed the items he and his team found there.
KEY EVENT
Diddy in courtroom
Zara Woodcock
Cassie’s mother took to the stand earlier that day
On Tuesday, Cassie’s mother, Regina Ventura, took the stand. Prosecutor Emily Johnson asked Regina Ventura to identify Combs in a photo and explain how she knew him.
“He dated my daughter,” she replied. Regina said she first met Combs in 2006 when her daughter, Cassie Ventura, signed with his record label, Bad Boy Records.
She said when her daughter and Combs started dating in New York City, she’d see her daughter about three or four times a year.
Regina said she saw Cassie less frequently when she moved to California with Combs, usually around the holidays.
“It was harder to get to her,” Regina said.
Cassie’s mum, Regina, took to the stand on Tuesday (Getty Images)
Zara Woodcock
Kid Cudi expected to testify
Prosecutor Maurene Comey said Scott Mescudi, also known as Kid Cudi, is slated to testify.
After Gannon finishes his testimony, the next witness will be Dr Dawn Hughes followed by George Kaplan. Mescudi will testify after Kaplan.
Zara Woodcock
Homeland Security agent continuing testimony
Diddy’s trial has now entered day seven (AP)
Gerard Gannon, a special agent with Homeland Security Investigations, will continue to testify today.
On Tuesday, he told Madison Smyser with The United States Attorney’s office he was positioned near the evidence van during the search of Diddy’s Miami mansion to be able to see the evidence being retrieved.
He claimed he was responsible for viewing every single item that came into the van, which was then taken to an office where he went through it and organised it into categories.
The jury was shown photos of items found in one of the wardrobes in the master bedroom of Diddy’s Miami Beach home.
Special Agent Gannon testified that agents found platform high heels, sex toys, baby oil, personal lubricant and lingerie. They also found “upper and lower receivers of AR-15s,” which are parts of a weapon, Gannon said.
He said that two complementary AR-15 “upper receiver” gun barrels were found separately wrapped inside a white towel. Gannon held up an evidence bag holding the AR-15 upper receivers in court. He said there are zip ties securing the gun so it’s not able to be fired.
Agents also found two magazines loaded with bullets in Diddy’s wardrobe, Gannon testified. The jury was shown photos of the items, including their serial numbers scratched out. Gannon said: “It’s a lot more difficult, or impossible,” to determine the owner of a firearm without a serial number.
He then showed the jury a photo of items found in one of the closets in Diddy’s master bedroom. It showed lingerie and several boxes of platform high heels.
He then held an evidence bag with platform high-heeled shoes from the closet.
Jurrien Timber will miss Arsenal’s final Premier League game of the season against Southampton after undergoing ankle surgery on Tuesday.
The Netherlands full-back was absent from Sunday’s 1-0 win against Newcastle and manager Mikel Arteta said on Wednesday he would be “out for a few weeks”.
Timber, 23, has played 48 times across all competitions for Arsenal this term after missing the majority of last season with an ACL anterior cruciate injury.
“With Jurrien, you understand that he was coming back from an ACL one year out, and to have this season after an ACL, it’s incredible,” said Arteta.
“We didn’t sign a player, we signed a leader, a very, very special character.”
Arteta also confirmed centre-back William Saliba will miss the Gunners’ trip to Southampton on Sunday because of a hamstring injury.
“William is going to be out for a few weeks, unfortunately. He pulled his hamstring against Newcastle, so he’s going to be out for a few weeks,” Arteta told Bein Sports.
Saliba’s 100th Premier League appearance ended early on Sunday as he was forced off at half-time with a hamstring problem at Emirates Stadium.
