News

Sanwo-Olu to Address UK Business Leaders on Investment Opportunities as Britain Exits EU

Published

3 years ago

January 16, 2021

Eric

Nigerian state governor to tell Institute of Directors: “There is a huge status to buying British in Nigeria, but in recent years, Britain has prioritised Europe in its trading relationships, allowing countries like China and Japan to take advantage. Brexit is the perfect opportunity to think again”.

Lagos State governor, Mr. Babajide Olusola Sanwo-Olu will on Monday showcase the post-EU opportunities for UK companies in Africa’s largest economy – when he becomes the first African to address an influential group of British business leaders.

Sanwo-Olu will address the Institute of Directors – UK’s oldest senior business leaders’ organisation. The engagement will make him the first African to do so and provide a platform for extensive discussion of available investment opportunities in Nigeria for British businesses post-Brexit.

Governor Sanwo-Olu will outline areas where the Nigerian government is actively looking to partner with British businesses, including transport and energy infrastructure, digital industries and technology, education, healthcare, environment and creative industries.

Interestingly, Mr. Sanwo-Olu, who is the governor of Nigeria’s most vibrant economic capital, will speak on the THEMES agenda of his administration.

THEMES, which is an acronym for Transportation & Traffic Management, Health & Environment, Education & Technology, Making Lagos a 21st Century Economy, Entertainment & Tourism, and Security & Governance, mirrors areas of investments and opportunities in the country.

Speaking during pre-session, Sanwo-Olu hinted that: “Nigeria is a continental powerhouse – one of the World’s biggest emerging markets and Africa’s largest economies. With a population of over 200 million people, our nation alone offers UK businesses a potential market half the size of the European Union and a gateway to the wider West African region.

“Nigerian leaders such as myself want our nation to become less reliant on oil hence our putting policies in place to unleash our national potential, foster innovation and diversify our economy. Britain is an ideal partner in that ambition.

“There is a huge status to buying British in Nigeria, but in recent years Britain has prioritised Europe in its trading relationships, allowing counties like China and Japan to take advantage of the trading opportunities offered by Commonwealth nations like ourselves. Brexit is the perfect opportunity to think again.

“If my own state of Lagos were a country is would have the fifth or sixth largest economy in Africa. UK businesses have so much to gain from post-EU trade with Africa, even on a regional level.

“This forum provides a veritable opportunity to highlight that even 60 years after independence, Britain and Nigeria have a prosperous and co-operative future ahead of us”.

Governor Sanwo-Olu was elected the governor of Lagos State – the centre of the Nigerian financial services sector – in 2019. Prior to that he was Managing Director of the Lagos State Property Development Corporation (LSPDC). He was also previously General Manager at some of Nigeria’s leading financial institutions.

His address will be delivered on Monday January 18 at 12noon. The event will take place online due to the COVID-19 social distancing guidelines.

More details can be found at www.iod.com

News

Kaduna Assembly Sets Committee to Probe Former Gov El-Rufai

Published

2 hours ago

April 16, 2024

Eric

The Kaduna State House of Assembly has set up a fact-finding committee to probe all finances, loans and contract projects awarded under the former Governor Nasiru El-Rufai administration.

Governor Uba Sani, during a town hall meeting on Saturday, lamented the huge debt inherited from his predecessor, El-Rufai, on May 29, 2023.

Sani had said the state was left with a few amounts, not enough to pay salary, adding that his administration inherited a total of $587 million, N85 billion, and 115 contractual liabilities from the ex-governor.

“Despite the huge debt burden of 587 million dollars, 85 billion naira, and N115 billion in contractual liabilities sadly inherited from the previous administration, we remain resolute in steering Kaduna State towards progress and sustainable development.

“We have conducted a thorough assessment of our situation and are sharpening our focus accordingly,” the governor had said.

However, on Tuesday, the state’s Assembly set up a fact-finding committee during plenary, among others, to also investigate the former governor’s top associate and Senior Counsellor on Investment, Jimi Lawal.

Besides, the panel would probe financial dealings, loans and grants and other project implementation from 2015-2023.

The State Assembly also mandated the committee to invite notable personalities including the former speakers of the 8th and 9th Assembly, commissioners of finance, former Managing Directors of Kaduna Markets, and Commissioners of Budget and Planning, among others.

The Punch

News

National Grid Collapses Again, Nigeria in Total Blackout

Published

1 day ago

April 15, 2024

Eric

The electricity national grid has collapsed again throwing the entire country into total blackout.

Some electricity distribution companies (DisCos), on Monday, confirmed the fresh collapse of the national grid, resulting in loss of power supply to their customers.

The grid experienced a fresh shutdown, and generation fell to 64.70 megawatts at 2:42 am on Monday, which was confirmed by officials of some of the DisCos.

According to an earlier report, the latest data from the Independent System Operator showed that the grid was generating 266.50mw of electricity from Okpai, Geregu and Ibom power.

Confirming the collapse in a statement, Jos DisCo said: “The current outage being experienced within our franchise States is a result of loss of power supply from the national grid. The loss of power supply from the national grid occurred in the early hours at about 0242 hours today, Monday, 15th April 2024, hence the loss of power supply on all our feeders.”

The company’s Head of Corporate Affairs, Dr Friday Adakole Elijah, expressed hope that the grid will be restored for normal power supply to its esteemed customers.

The Enugu Electricity Distribution Company (EEDC), also confirmed the collapse in a statement titled “NOTICE OF TOTAL SYSTEM COLLAPSE”.

“The Enugu Electricity Distribution Company PLC (EEDC) wishes to inform her esteemed customers of a total system collapse which occurred at 2:41 am today, 15th April 2024.

“This resulted in the loss of supply to all our interface TCN stations. Consequently, we were unable to provide service to our customers in Abia, Anambra, Ebonyi, Enugu, and Imo States.

“However, the situation is gradually being resolved as we received the supply at Awada TCN station, Onitsha, at 7:30 am.

“We are in constant communication with the relevant authorities awaiting the full restoration of supply by the National Control Centre, NCC, Oshogbo. Thank you for your usual understanding and cooperation,”

A statement by Head, of Corporate Communications, EEDC, Emeka Ezeh said.

The Transmission Company of Nigeria (TCN) is yet to confirm the collapse as of press time.

News

Gunmen Abduct Channels TV Reporter in Rivers, Demand N30m

Published

4 days ago

April 12, 2024

Eric

Gunmen have kidnapped a journalist and reporter with Channels Television, Mr Joshua Rogers, at his residence in Rumuosi in Obio/Akpor Local Government Area of Rivers State on Thursday night.

Rogers, who covers the Rivers State Government House for his organisation, was reportedly trailed after he closed from work to his residence.

The miscreants accosted him before he alighted from his car, pointed a gun at him and whisked him along with his vehicle off to an unknown destination at about 9 pm.

A source who said he doesn’t want his name mentioned said the reporter had earlier covered an event in Ndoni in the Ogba-Egbema-Ndoni Local Government Area of the state where Governor Siminalayi Fubara, inaugurated a Primary Healthcare Centre.

The facility was built and donated to the state by the PAMO Educational Foundation, founded by former Rivers governor, Dr Peter Odili, on Thursday.

The source said, “Yes, he was kidnapped last night at his residence in Rumuosi and taken away in his car by some unknown gunmen.

“We are appealing to the kidnappers to release him immediately and unhurt. He is just a journalist doing his job and not a moneybags. So I don’t know the purpose of his kidnap.”

It was also gathered that the hoodlums had contacted his wife and demanded N30m as ransom before releasing him.

Efforts to reach the spokesperson for the State Police Command, Grace Iringe-Koko, for confirmation, were unsuccessful as she did not pick up several calls put across to her by The Punch.

Iringe-Koko has also yet to reply to a text message sent to her as of publication on Friday morning.

The Punch