Bagudu Hails Gumel’s Appointment as Botswana Sovereign Wealth Fund Chairman

James Emejo in Abuja

Minister of Budget and Economic Planning, Senator Abubakar Bagudu, yesterday congratulated the Vice Chairman of Africa for Tropical General Investment (TGI) Group, Mr. Farouk Gumel, on his appointment as Chairman, Board of Directors, Botswana Sovereign Wealth Fund Limited.

Gumel, the immediate past Chairman of the Nigerian Sovereign Investment Authority (NSIA), was appointed by President Duma Gideon Boko to oversee the multi-billion-dollar fund, which aims to diversify the Botswana economy, create new opportunities, and ensure lasting prosperity for the country’s future generations.

Bagudu, who had received Gumel in his office last week, said the appointment recognised his extensive experience and achievements as a business leader across professional services, investment, and industrial development in Africa and internationally.

In a statement, he said, “This appointment, no doubt, recognises your deep intellect and extensive experience in business leadership and wealth creation, which I have personally witnessed.

“I acknowledge your invaluable contributions through your WACOT group to our efforts to modernise and expand our agricultural practices in Kebbi State. Your expertise was instrumental in helping us achieve our rice revolution, which improved lives and created jobs and wealth for thousands of our people when I was Governor of Kebbi State.”

Bagudu expressed confidence that Gumel would make Nigeria proud by helping Botswana develop its sovereign wealth fund into one of the largest in the world.

The minister said, “I commend you, knowing that you will bring your usual dedication and visionary guidance to the task of helping Botswana manage and grow its wealth for the benefit of future generations of its people.

“Let me also congratulate President Bola Tinubu for the leadership he has provided for our economic diplomacy that is positively projecting our country as a land of immense opportunities and talents, capable of playing on the global stage.”