Economy
Why FG Offers Visa Waivers To Eastern Caribbean states
Why FG Offers Visa Waivers To Eastern Caribbean states
Why FG offers visa waivers to Eastern Caribbean states. Holders of diplomatic and official passports from Organisation of Eastern Caribbean States (OECS) may no longer need visas to travel to Nigeria.
There are seven member of the OECS. These are: Antigua and Barbuda, Commonwealth of Dominica, Grenada, Montserrat, Saint Kitts and Nevis, Saint Lucia, and Saint Vincent and the Grenadines.
This is courtesy of President Bola Ahmed Tinubu’s waiver proposal.
The president also proposed the establishment of a formal Joint Commission or Political Consultation Agreement between Nigeria and the OECS, aimed at strengthening structured collaboration across key sectors and enhancing the historic ties between Africa and the Caribbean.
According to the Nation, Tinubu broke the news while addressing a special joint session of the Senate and House of Assembly of Saint Lucia at the William Jefferson Clinton Ballroom, Sandals Grande Resort.
He emphasized Nigeria’s commitment to forging deeper partnerships with the OECS and its member states, spanning trade, investment, education, culture, health, and climate resilience.
“In consideration of the strategic importance that my country attaches to OECS, we have formally established diplomatic relations with Saint Lucia.
“This diplomatic move is a symbolic bridge that will provide a gateway to fostering ties between us”, Tinubu said.
“To further deepen our partnership, I recommend that our two parties initiate negotiations towards a formal agreement on a joint commission or political consultation—such a framework will provide a structural platform to explore and advance cooperation across a broader range of mutually beneficial areas.”
The president, who is on a state visit to Saint Lucia, was received by the Saint Lucian legislature and leaders from across the OECS, including heads of government and representatives from Grenada, Antigua and Barbuda, St. Kitts and Nevis, Dominica, the Premier of Montserrat, Saint Martin, and Saint Vincent.
Citing Nigeria’s economic reforms and outward-looking strategy since assuming office in May 2023, President Tinubu said his administration is keen on building strong international partnerships.
“When I assumed the office of the President of Nigeria in May 2023, my administration embarked on series of economic and social reforms… to put the country on the path of sustainable growth and development,” he noted.
He explained that the visit to Saint Lucia was in line with Nigeria’s renewed global engagement agenda and an effort “to explore areas of cooperation and collaboration between the Eastern Caribbean States.”
President Tinubu identified trade and investment as core pillars of potential collaboration, pointing to Nigeria’s economic size and diversity.
“Nigeria’s vast natural resources and its position as the largest market in Africa present significant opportunity for the OECS, both as a source of essential input and as a growing export destination,” he stated.
“Together, we can leverage our respective strengths to attract investments, create jobs and foster joint ventures that benefit both our peoples,” the President added.
He also highlighted the potential for deeper educational and scientific cooperation, advocating exchange programs between Nigerian and OECS maritime universities, saying “such partnerships will build technical capacity, but also foster mutual understanding and long-term academic collaboration”.
Beyond education, the President called for joint scientific research initiatives to address shared health challenges, as well as climate adaptation strategies.
“We can deepen our understanding and enhance collective resilience,” he said, referencing joint efforts on climate change, hurricane response, and sustainable agriculture to ensure food security.
In addition to institutional cooperation, Tinubu called for greater people-to-people engagement through cultural exchanges, tourism, and visa facilitation.
“It is essential that we invest in cultural and human exchanges that build mutual understanding from the ground up among our peoples,” he said, stressing the importance of heritage awareness among younger generations.
“In a concrete step towards this goal, Nigeria is open to exploring a visa waiver arrangement for holders of diplomatic and official passports from OECS member states traveling to Nigeria. I respectfully urge a reciprocal gesture to enable smoother movement of officials and foster closer institutional cooperation”, he announced.
President Tinubu also pledged to extend Nigeria’s Technical Aide Corps to the OECS countries to support capacity development efforts across key sectors.
“We will provide skilled professionals to support capacity building efforts across all sectors in your region,” he said.
In a goodwill gesture, the President offered full tuition scholarships to students from OECS countries, stating: “I will establish full scholarship tuition for students of OECS.”
Quoting both Marcus Garvey and an African proverb, Tinubu concluded with a call for unity, mutual support, and long-term partnership between Nigeria and the Eastern Caribbean region.
“Let us journey together, united in purpose and fortified by our common heritage. Africa belongs to all of us. We need to continue to promote that”, he urged.
President Tinubu and Prime Minister Philip J. Pierre of Saint Lucia have pledged to establish formal diplomatic relations between their two nations, marking a new chapter in Africa-Caribbean engagement.
The commitment was made during President Tinubu’s courtesy visit to the Prime Minister’s residence in Castries on Sunday. It was the second day of his visit to the Caribbean Island nation.
Welcoming the Nigerian delegation, Prime Minister Pierre hailed the ongoing bilateral discussions as promising and said both sides were enthusiastic about the prospects of closer cooperation.
“There is an air of enthusiasm and optimism about the future of relations between our countries,” he said.
President Tinubu thanked the government and people of Saint Lucia for their warm reception and hospitality. He described Saint Lucians as “valued friends and brothers,” and emphasized the cultural and historical bonds between Nigeria and the Caribbean.
“Our two nations are bound by history, culture, and common aspirations. We are determined to nurture and expand this relationship,” the Nigerian leader said.
He affirmed that efforts currently underway would serve as a foundation for broader cooperation in areas such as trade, investment, tourism, education, and cultural exchange.
These efforts, he added, would also help to improve consular services for citizens of both countries.
“This is a bridge between Africa and the Caribbean, a pathway to deepen economic ties and foster mutual understanding. It reflects our desire to advance prosperity, solidarity, and sustainable development,” Tinubu said.
The Prime Minister also spotlighted Saint Lucia’s emerging global cultural identity, citing the internationally acclaimed Saint Lucia Jazz and Arts Festival as a model of cultural diplomacy with potential for partnership.
FG Offers Visa Waivers To Eastern Caribbean states
“There is much that we can share with Nigeria as it seeks to establish itself as a centre for global entertainment, particularly in the film and music industries.
Moreover, there is incredible potential for people-to-people exchange”, Pierre noted.
Pierre lauded Nigeria’s historic achievements in higher education and praised Tinubu’s visit to Sir Arthur Lewis Community College as a significant gesture.
He said the visit aligned with his government’s ambitious education policy, which aims to ensure that every household in Saint Lucia has at least one university graduate.
“Nigeria’s accomplishments in higher education are historical and well known. Our distinguished Nobel Laureate, after whom the College was named, postulated that the key to development lay in education,” the Prime Minister said.
The Saint Lucian leader also took a broader view of international affairs, pointing to the shifting nature of global power dynamics and the need for stronger South-South cooperation.
“Your visit comes at a time of heightened global insecurity and fundamental shifts in the exercise of power by the major powers in the Global North.
There is growing uncertainty about the basis and motivation underlying international relationships”, he said.
Persistent Grid Collapse, Weak Power Supply Worsening Economic Hardship: Oyintiloye
Speaking with journalists on Sunday in Osogbo, Oyintiloye said the situation had continued to deteriorate despite assurances and reforms introduced by authorities.
He described unreliable electricity as a major setback to the federal government’s reforms in the power sector.
He appealed to President Bola Tinubu to urgently intervene, noting that poor power supply is worsening economic hardship across the country.
Oyintiloye said the poor supply has compounded the effects of the current heatwave, making living conditions more difficult for many Nigerians.
The former lawmaker called for the constitution of a panel to investigate recurring national grid collapses and persistent supply challenges despite significant investments.
“It is a terrible situation across Nigeria with persistent poor power supply,” he said.
“Many small-scale businesses and large industrial players are affected, while most homes cannot boast of even three hours of electricity supply daily for domestic use.
“Despite numerous reforms and promises, the national grid continues to collapse. The situation is now compounded by gas supply shortages, weak transmission infrastructure, and chronic underinvestment across the power value chain.
“Nigerians are groaning, and urgent action must be taken by the Minister of Power, Adebayo Adelabu, and his team. The situation cannot continue like this.”
Oyintiloye warned that the situation has already triggered protests in parts of the country and could escalate if not addressed promptly.
“The situation must be quickly addressed before it becomes a national embarrassment. Nigerians need to be informed whether the issue is due to structural failure or sabotage within the power sector,” he said.
Electricity
“This epileptic power supply has led to a series of peaceful protests nationwide. I appeal for the President’s intervention before these protests turn violent.
“Electricity is essential for households and the survival of businesses. Since the end of last year, there has been no stable power supply across the country, despite assurances by those in charge and huge investments in the sector.
“Poor power supply should not be added to the challenges Nigerians are currently facing. The high cost of fuel has also made it difficult for those relying on generators to cope.”
Eid-el-Fitr: NRC Sets To Run Three Lagos–Ibadan Train Trips Monday
Eid-el-Fitr: NRC sets to run three Lagos–Ibadan train trips Monday. He assured passengers of NRC’s continued commitment to safe, reliable, and efficient rail services.
This was contained in a statement issued on Friday in Lagos by NRC chief public relations officer, Callistus Unyimadu.
He said the additional trip was in response to high passenger turnout during the Eid-el-Fitr travel period.
“The extra trip is aimed at easing passenger movement and providing more travel options for commuters returning after the Eid-el-Fitr celebrations.
“Under the schedule, departures from Lagos (Mobolaji Johnson Station, Ebute Metta) will be at 7.45 a.m., 1.40 p.m., and 4.00 p.m.
“From Ibadan (Obafemi Awolowo Station, Moniya), trains will depart at 8.00 a.m., 10.50 a.m., and 4.30 p.m.,” he said.
Mr Unyimadu assured passengers of NRC’s continued commitment to safe, reliable, and efficient rail services.
NRC Sets To Run Three Lagos–Ibadan Train Trips Monday
He advised travellers to arrive early, comply with ticketing and security procedures, and plan their journeys.
“The corporation appreciates the continued patronage of its services and wishes all passengers a safe and pleasant journey,” he added.
UBA, BII Sign Letter Of Intent To Explore Trade Finance Collaboration Across Africa
United Bank for Africa (UK) Limited (“UBA UK”) and British International Investment plc (“BII”), the UK’s development finance institution and impact investor, announced that they have signed a letter of intent to develop trade finance collaboration opportunities.
The proposed initiative aims to expand access to trade and working capital facilities for businesses operating across Africa.
Access to trade finance remains one of the most significant structural constraints on African trade. Businesses, particularly small and medium-sized enterprises, are frequently unable to secure letters of credit, guarantees, and supply chain finance on commercially viable terms, limiting their capacity to export and import competitively. This trade finance gap is estimated by the African Development Bank to be over USD 80 billion annually.
To help close this gap, UBA UK, the London subsidiary of UBA Group, Africa’s Global Bank, will leverage its deep relationships across the Group’s 20-country African network to originate and structure trade finance transactions. While BII, with a mandate to support productive, sustainable, and inclusive growth across Africa, can support transactions that might otherwise fall outside conventional commercial appetite.
“The signing of this letter with BII represents a landmark moment for UBA UK and for the UBA Group’s global ambitions. As the Group’s hub for Trade Operations, UBA UK is uniquely positioned to connect African businesses with the international financial system. Working alongside BII, we can extend that capability further — mobilising capital where it matters most and helping to close the trade finance gap that holds back so much African potential,” said Lok Mishra, Chief Executive Officer, UBA UK
“British International Investment is committed to catalysing private sector growth across Africa, and trade finance is a critical enabler of that growth. We welcome the opportunity to collaborate with UBA Group, whose pan-African network and deep institutional relationships can help advance our ambition to expand access to trade and working capital finance, particularly in frontier markets,” Chris Chijiuitomi, Managing Director and Head of Africa
The announcement builds on growing momentum around intra-African trade facilitated by the African Continental Free Trade Area (AfCFTA), which entered into force in 2021 and represents one of the world’s most significant trade integration initiatives. Both institutions have identified the operationalisation of AfCFTA as a priority catalyst for a trade finance facility, with UBA UK’s network across major AfCFTA economies offering a basis for supporting businesses navigating the emerging continental market.
This also complements the UK Government’s broader engagement with African economic development, including commitments made at the UK-Africa Investment Summit, and reinforces the City of London’s role as a leading international finance centre for Africa-focused capital mobilisation.
Future cooperation remains subject to further assessment, due diligence and the completion of internal approvals by both parties.
ABOUT UNITED BANK FOR AFRICA (UK) LIMITED
UBA UK is the London-based subsidiary of United Bank for Africa Plc, one of Africa’s leading financial institutions with operations across 20 African countries, the United Kingdom, the United States of America, France, and the United Arab Emirates. UBA UK serves as the Group’s hub for Trade Operations, providing a comprehensive suite of trade finance, treasury, and correspondent banking services to institutional and corporate clients worldwide.
UBA
ABOUT UNITED BANK FOR AFRICA GROUP
United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees group-wide and serving over 45 million customers globally. Operating in twenty African countries, the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting-edge technology.
ABOUT BRITISH INTERNATIONAL INVESTMENT
British International Investment is the UK’s development finance institution and impact investor. The organisation invests in businesses in developing countries to improve people’s lives and help protect the planet. BII’s work targets the underlying causes of poverty and the climate crisis, helping countries break free from aid dependency for good.
Between 2022-2026, at least 30 per cent of BII’s total new commitments by value will be in climate finance. BII is also a founding member of the 2X Challenge which has raised over $33.6 billion to empower women’s economic development.
The company has investments in over 1,600 businesses across 66 countries and total net assets of £9.87 billion. For more information, visit: www.bii.co.uk | watch here. Follow British International Investment on LinkedIn, Bluesky and X.
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