Connect with us

Society

From Lagos to London: Africa’s economic powerhouse makes historic debut at Lord Mayor’s Show

Published

on

Nigeria’s Lagos state marked a historic moment by making Africa’s inaugural appearance at the renowned Lord Mayor’s Show in London – an annual procession, steeped in 800 years of tradition, that celebrates the history and commerce of the city.

The debut signals the state government’s ambitions to become a global financial hub and to attract foreign investment, particularly crucial as federal authorities grapple with revitalizing Nigeria’s economy, which faces challenges such as mounting debts, unprecedented inflation rates, and a sharp decline in the local currency.

Organizers of the Lord Mayor’s Show said Lagos was invited to participate in the London procession because of the state’s “growing economic prominence.”

Lagos Governor Babajide Sanwo-Olu, who led Nigeria’s contingent to the London parade on Saturday, told newsmen his state’s participation was an invitation to the world to explore “the myriad of opportunities” available in Lagos.

He said: “Let it be known that Lagos State, with its rich cultural heritage and unwavering spirit, is not just participating in a historic procession; it is striding into the global spotlight, inviting the world to witness its dynamism, its progress, and the myriad of opportunities available to all.”

“Lagos isn’t just open for business — it’s open for transformative, groundbreaking projects that shape the future,” he added.

A global financial center

Lagos is Nigeria’s former capital city and has remained the economic nerve center of the West African country – contributing 30% to its GDP and more than 50 percent of Nigeria’s port revenues, according to figures released by the state.

However, it faces many issues, not least its struggles with inadequate infrastructure, such as roads, public transport, and utilities. Lagos has also experienced rapid population growth, leading to issues such as overcrowding, a strain on infrastructure, and increased demand for basic services.

However, many backers believe that Lagos has the potential to evolve into a global financial hub capable of drawing substantial foreign investments into Nigeria.

Aigboje Aig-Imoukhuede, co-chair of the newly inaugurated Lagos International Financial Centre Council (LIFC) said Lagos was now ready to position itself with global players.

The “market infrastructure is in place,” he said adding, “The problem was the management of the market. Our market unfortunately suffered very poor management from a government standpoint for the last eight years. But things have changed.”

Huddle for investors

Amid the scramble for foreign investments into Nigeria, myriad challenges however abound for potential investors.

According to the US Department of Commerce, foreign exchange restrictions and the rising cost of doing business in Nigeria were some of the drawbacks of investing in the country.

Last year, flights between Nigeria and the United Arab Emirates were stopped after Dubai’s Emirates airline suspended its operations in the country citing trapped revenues.

In a similar move, British drugmaker GSK said this year it was ending its business in Nigeria, partly due to soaring business costs.

Aig-Imoukhuede, whose advocacy group EnterpriseNGR partnered with the Lagos government to create the LIFC, wants Nigeria’s financial authorities to address some of these issues, especially the country’s rising inflation and unstable exchange rate.

“Focus on the inflation rate, bring it down,” he urged the Nigerian Central Bank. “A low stable inflation rate automatically signals a stable currency … and that’s the job half done,” he explained.

Society

Rotary International District 9112 launches its coastal restoration initiative by planting 1,000 coconut trees in Lagos

Published

on

By

 

In a bid to promote its mission of improving the environment, Rotary international District 9112 on Sunday kicked off an environment-saving intervention tagged: Coastal Restoration Initiative at Westside Beach, Okun, Ajah, Lagos, where 1000 coconut trees were planted along the coastal shores of the Atlantic Ocean.

 

Speaking at the event, the Governor of Rotary International, District 9112 Rotarian Femi Adenekan said the “initiative is conceived to save the environment as well as reduce the adverse effect of the climate change.”

 

According to him; “the environment is one of the main focus areas of Rotary International. We need to consciously come to the realization that we need to save our environment. We need to save ourselves. So that in the future, those that will come after us will have life.”

“People assume that the world belongs to them. They have forgotten that they are just tenants on the surface of the earth. If you try to change nature, nature will react, which is the reason we are having a lot of environmental damage in the world. Some of wrong human activities, such as throwing plastics and other items into water or where it ought not to be is causing us environmental challenges. If we don’t take care of our environment, the environment will react and take us out of the surface of the earth,” He said.

 

 

The chairman of the District 9112 Tree Planting Committee, Rtn. Gboyega Bada recommended the adoption of an “Every Rotarian Plant a Tree Every Year” policy and also indicated plans for Rotary International District 9112 to propose a Private Bill to the Lagos State House of Assembly to enable all Lagos Residents plant a tree every year for the next five years to address the challenges of climate change.

 

Rtn Bada stated that the vision of Rotary District 9112 on Tree Planting is to achieve a safer and cleaner environment by planting 10,000 seedlings of Coconut, Mango, Breadfruit, Avocado and other ralated crops that have economic, health and environmental benefits.

 

The event was well attended by Stakeholders in the Private and Public Sectors. Pan African Towers Ltd, Tolaram Group, Azeez Amida Foundation, Telenoetica Ltd, amongst others were well represented. Past District Governor Tunji Funsho led other Rotary Leaders to give their support. The DG’s wife Rtn Tayo Adenekan, the District Governor elect Rtn Lanre Adedoyin, General Manager of Lagos State Coconut Development Authority, Dapo Olakulehim and Lagos State Parks and Gardens Agency, Club Presidents and Rotarians from the 73 Clubs graced the occasion.

 

 

Also speaking at the event, one of the Guest Speakers, the world acclaimed horticulturist, Mr. Andrew Vale of Tolaram Group and The Lagos Free Zone, highlighted the importance of trees, saying; “planting trees improves air quality, reduces air pollution, and illnesses from air pollution. More so, plants produce oxygen and provide shelter, medicine, and many more.”

 

In his own special remarks, Chairman, LUFASI Park and DG Coconut Naija, Dr. Desmond Majekodunmi, said; “the basic fact about the environment is that whatever you sow, you shall reap. The environment will always treat you, the way you treat it.”

 

It is of note that the vision of District 9112 on tree planting for this year is to achieve a safer and cleaner environment through the planting of 10,000 seedlings of coconut, mango, breadfruit, avocado and other related crops that have economic, health and environmental benefits.

 

The event was witnessed and supported by main stakeholders in the industry, agencies and partners which included, Mr Dapo Olakulehin, General Manager, Lagos State Coconut Development Authority (LASCODA), Mr Andrew Vale of Tolaram Group, Channel Scott from Pan African Towers, Azeez Amida Foundation, Telenoetica, The Legend Lifeskills Foundation, Etam Avitat, Lagos State Parks and Gardens Agency (LASPARK) , presidents and members of various Rotary Clubs in District 9112 amongst others.

 

Rotary leaders who witnessed the event are PDG Tunji Funsho, PDG Kamoru Omotosho, PDG Omotunde Lawson amongst others.

Continue Reading

Society

Ohanaeze President-General, Chief Emmanuel Iwuanyanwu, Is Dead

Published

on

By

 

The President-General of Ohanaeze Ndigbo Worldwide, Chief Emmanuel Iwuanyanwu is dead.

 

The Publicity Secretary of Ohanaeze Ndigbo, Dr Alex Ogbonnia confirmed the death to the News Agency of Nigeria (NAN) on Thursday in Enugu.

 

“Today is a bad day for Ndigbo. It’s true! Ahaeji aga Mba is gone.

 

“Ohaneze is yet to issue an official statement on the demise of our President General, Chief Iwuanyanwu, but he is gone.

 

Aged 82, Iwuanyanwu was elected the President General of the apex Igbo cultural organisation on April 20, 2023 following the sudden death of his predecessor, Prof George Obiozor.

 

An unconfirmed report said that the octogenarian died in the Federal Capital Territory, FCT, Abuja on Thursday, July 25.

 

NAN reports that Iwuanyanwu is the second President General of Ohanaeze Ndigbo to die in office after his predecessor, Prof. George Obiozor, who also died in office.

 

Chief Emmanuel Iwuanyanwu is a prominent Nigerian businessman, politician, and philanthropist known for his significant contributions to various sectors, particularly in the Igbo community

and beyond. (NAN)

Continue Reading

Society

How Top Immigration Officer, Akomolafe Gbenga Michael, Was Arrested, Arraigned For Alleged Drug Trafficking

Published

on

By

 

Few years after a top police officer, Abba Kyari, was arrested for alleged drug deals, another top uniform man, Akomolafe Gbenga Michael

has been arrested and charged for alleged drug trafficking.

 

Akomolafe, an Immigration officer serving at the Murtala Muhammad International Airport, Ikeja in Lagos was arraigned alongside three others before Justice Daniel Osiagor of the Federal High Court sitting in Lagos on a nine-count charge of alleged conspiracy, unlawful possession, import, and dealing in the prohibited substances.

 

He was specifically alleged to have been involved in trafficking eight kilograms of Methamphetamine and 7.60 kilograms of Cannabis Sativa, also known as marijuana.

 

Others arraigned on the alleged offences alongside the Immigration officer are; Babatunde Micheal Olufemi said to be a staff of the Federal Airport Authority of Nigeria (FAAN), Nwadozie Chris Amaechi, and Nwosu Chinedu Cyril.

 

The prosecutor, Abu Ibrahim, told the court that the four who belonged to a hard drug syndicate were arrested on May 21, 2024, while attempting to smuggle the prohibited substances out of the Murtala Muhammad International Airport Ikeja, Lagos.

 

Ibrahim also told the court that the four men conspired to commit the alleged crimes alongside the duo of Nwadozie Sunday and Echezona Nwosu, based in South Africa.

 

Specifically, the Immigration officer, Akomolafe was slammed with a six-count charge of conspiracy, unlawful import, unlawful possession, and trafficking in the banned substances while the trio of Olufemi said to be a staff of FAAN, Nwadozie, and Nwosu, was slammed with three counts of conspiracy and unlawful importation and possession of the banned drugs.

 

The prosecutor told the court that the alleged criminal act of the four men contravened sections 14 (b), 21 (2)(d), and 20 (1)(c) punishable under sections 11(b) and 20 (2)(b) of the National Drug Law Enforcement Agency Act Cap. N30, Laws of the Federation of Nigeria, 2004.

 

However, while the other three members of the gang pleaded guilty to the charges, the Immigration officer denied the offences and pleaded not guilty to all the counts of the charge.

 

Based on the not-guilty plea of the Immigration officer, his lawyer, Benson Ndakara, pleaded with the court to admit him to bail in the most liberal terms.

 

In his ruling, Justice Osiagor admitted Akomolafe to bail in the sum of N10 million with one surety.

 

The judge also ordered that the surety must be a civil servant of an assistant director cadre in the employment of Lagos State or the Federal Government.

 

The trial was then adjourned to November 7, 2024. Based on their guilty plea, the court convicted and sentenced the trio of Babatunde Micheal Olufemi, Nwadozie Chris Amaechi, and Nwosu Chinedu Cyril, to four years on each count. The sentence is to run concurrently.

 

The three convicts were also given the option of paying a fine of N2 million each on each count.

 

In a related development, The Nigeria Immigration Service (NIS) has suspended Akomolafe over his alleged involvement in multiple drug trafficking offences and his arraignment before a Federal High Court in Lagos.

 

A press statement on Wednesday by the spokesperson of NIS, Kenneth Udo, said the suspension was imposed on the erring officer as the Service awaited the judgement

of the court for further action..

Continue Reading

Trending