Business News

Tony Elumelu discloses mission to World Economic Forum

To continue with the development drive in Africa, Chairman of United Bank for Africa Plc (UBA), Tony Elumelu has reiterated the need for more global capital into the continent. He stated to actualise the ideas and innovations of Africans, massive capital investment is needed.

Published

2 years ago

January 25, 2019

Fakoyejo Olalekan

UBA H1 Year 2019 Tony Elumelu, United Bank for Africa

To continue with the development drive in Africa, Chairman of United Bank for Africa Plc (UBA), Tony Elumelu has reiterated the need for more global capital into the continent. He said to actualise the ideas and innovations of Africans, massive capital investment is needed.

The need to attract more global capital inflow to Africa compelled Elumelu to attend the on-going World Economic Forum in Davos, Switzerland, where he intends to meet with global leaders who have control capital.

His statement is in line with his discussion with about 5,000 African entrepreneurs during his annual Tony Elumelu Foundation (TEF) Entrepreneurship Forum in 2018, where he told the audience that entrepreneurship is the key to unlocking economic development in Africa.

In a recent interview with CNBC, Elumelu said to eliminate poverty in the African continent, entrepreneurs need to be supported and a business-friendly environment should be created.

“I believe that the development of our continent requires massive private global capital into Africa to fire and power investments in the area of infrastructure to create employment and eradicate poverty. I came to Davos to interact with global leaders who have control capital and that to me is important for the development of our continent.
I believe strongly that entrepreneurship is key for eradicating poverty in Africa and more importantly, getting our youths busy, empowering our youths so that again they will all team up to create employment that we need on the continent.
“As you know, capital goes to where it is most welcome, or where the investment destination is more hospitable, so for us as Africans, the issue is not about attracting private global capital, they are ready and willing to come to Africa, but we need to work with our political leaders to ensure that we create the enabling environment that will attract and retain the capital we need in Africa.
“I speak as someone who invests in other Africa countries, infact, we have investments in 23 African countries and I know that there is a lot of investment opportunities, what we need to do more of in Africa is to ensure that the enabling environment is good.
“Because if this is done, SMEs will do well, Big businesses will also do well and as our foreign associates and partners see that business is flourishing in Africa, they will come to invest in Africa. There is nowhere else you get the kind of ROI that you get in Africa and that is good for Africa, but we need to make sure that the global capital attracted is retained in our continent.”

The founder of Tony Elumelu Foundation added that the best way to develop Nigeria is to encourage small and medium businesses within the country. Adding that the development of Africa will cause a spiral effect across Africa. Elumelu said he’s optimistic about the future, and he has been relating his positive projection about Nigeria and Africa to global partners to lure them into investing in the continent.

Meanwhile, over one thousand African youths in entrepreneurship will be trained by the Tony Elumelu Foundation.

Fakoyejo Olalekan

Olalekan is a certified media practitioner from the Nigerian Institute of Journalism (NIJ). In the era of media convergence, Olalekan is a valuable asset, with ability to curate and broadcast news. His zeal to write was developed out of passion to shape people’s thought and opinion; serving as a guideline for their daily lives. Contact for tips: [email protected]

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Business

Lagos Commissioner of Police dismantles road blocks on Lagos-Badagry expressway

The Commissioner warned the concerned Area Commanders to take action on full compliance as any defaulter will be sanctioned accordingly.

Published

1 hour ago

April 11, 2021

Chike Olisah

The Commissioner of Police in Lagos State, CP Hakeem Odumosu, has ordered the immediate dismantling of all illegal roadblocks by police teams from the command on the Lagos-Badagry expressway.

The directive is to checkmate the illegal activities of the police on that route which have been condemned by the government, some stakeholders and international bodies and also bring sanity and decency to their operations along that axis.

That disclosure is contained in a statement signed by the Police Public Relations Officer of the Lagos State Police Command, CSP Olumuyiwa Adejobi, on Saturday, April 10, 2021.

Adejobi in the statement said that CP Odumosu gave the order on Friday while addressing Area Commanders and Divisional Police Officers in the command on the general security situation in the state and reviewing the anti-crime strategies of the command in order to sustain its feats on crime control.

What the statement from the Lagos State Police Command is saying

The statement from the Lagos Police Command partly reads, “In his bid to restore sanity and decency to the operations of the police along the ever-busy international route, Lagos/Badargy Expressway, the Commissioner of Police, Lagos State, CP Hakeem Odumosu, has ordered for the immediate dismantling of illegal roadblocks by the police teams from the Lagos State Police Command.

The police boss, while reacting to some complaints from the general public and some security reports on the police activities along the international route, ordered the Area Commanders and Divisional Police Officers whose jurisdictions fall along the Badargy Expressway; Festac and Area K, Marogbo, to withdraw their men from the illegal roadblocks and embark on aggressive motorised patrol and surveillance to police their areas and the route.

The Commissioner of Police confirmed that the illegal police roadblocks along the route have been condemned by the government, international bodies and interest groups and they must be dismantled without delay,” he said.

The Commissioner, however, noted that other police operatives from other police formations, outside the supervision of the Lagos State Police Command who operate along the route, would be contacted to adjust and do the needful to restore sanity to their operations.

The CP Odumosu then warned the concerned Area Commanders to desist and take necessary action on full compliance with his order as any defaulter will be sanctioned accordingly.

REF NO. CZ: 5650/LS/PPRO/VOL.3/85
LAGOS CP DISMANTLES ILLEGAL ROAD BLOCKS ON BADAGRY EXPRESSWAY
*Threatens to Sanction Defaulters*
In his bid to restore sanity and decency to the operations of the police along the ever-busy international route, Lagos/Badargy
— Lagos State Police Command (@LagosPoliceng) April 10, 2021

Business News

COVID-19 Update in Nigeria

On the 10th of April 2021, 84 new confirmed cases and death was recorded in Nigeria

Published

7 hours ago

April 11, 2021

Samuel Oyekanmi

The spread of novel Corona Virus Disease (COVID-19) in Nigeria continues to record significant increases as the latest statistics provided by the Nigeria Centre for Disease Control reveal Nigeria now has 163,736 confirmed cases.

On the 10th of April 2021, 84 new confirmed cases and 1 death was recorded in Nigeria.

To date, 163,736 cases have been confirmed, 154,098 cases have been discharged and 2,060 deaths have been recorded in 36 states and the Federal Capital Territory.

A total of 1.8 million tests have been carried out as of April 10th, 2021 compared to 1.7 million tests a day earlier.

COVID-19 Case Updates- 10th April 2021,

Total Number of Cases – 163,736
Total Number Discharged – 154,098
Total Deaths – 2,060
Total Tests Carried out – 1,803,177

According to the NCDC, the 84 new cases are reported from 13 states- Lagos (26), Akwa Ibom (16), Rivers (10), Ebonyi (9), Abia (6), Kano (6), Osun (3), Bauchi (2), Delta (2), Edo (1), Jigawa (1), Kaduna (1), and Ogun (1)

Meanwhile, the latest numbers bring Lagos state total confirmed cases to 57,950, followed by Abuja (19,703), Plateau (9,030), Kaduna (8,984), Rivers (6,986), Oyo (6,838), Edo (4,892), Ogun (4,620), Kano (3,924), Ondo (3,226), Kwara (3,120), Delta (2,615), Osun (2,547), Nasarawa (2,378), Enugu (2,259), Katsina (2,097), Gombe (2,034), Ebonyi (2,008), Anambra (1,909), Akwa Ibom (1,794), and Abia (1,677).

Imo State has recorded 1,655 cases, Bauchi (1,538), Borno (1,337), Benue (1,188), Adamawa (1,051), Niger (930), Taraba (910), Bayelsa (871), Ekiti (868), Sokoto (774), Jigawa (525), Kebbi (450), Cross River (385), Yobe (365), Zamfara (234), while Kogi state has recorded 5 cases only.

Lock Down and Curfew

In a move to combat the spread of the pandemic disease, President Muhammadu Buhari directed the cessation of all movements in Lagos and the FCT for an initial period of 14 days, which took effect from 11 pm on Monday, 30th March 2020.

The movement restriction, which was extended by another two weeks period, has been partially put on hold with some businesses commencing operations from May 4. On April 27th, 2020, Nigeria’s President, Muhammadu Buhari declared an overnight curfew from 8 pm to 6 am across the country, as part of new measures to contain the spread of the COVID-19. This comes along with the phased and gradual easing of lockdown measures in FCT, Lagos, and Ogun States, which took effect from Saturday, 2nd May 2020, at 9 am.

On Monday, 29th June 2020 the federal government extended the second phase of the eased lockdown by 4 weeks and approved interstate movement outside curfew hours with effect from July 1, 2020. Also, on Monday 27th July 2020, the federal government extended the second phase of eased lockdown by an additional one week.

On Thursday, 6th August 2020 the federal government through the secretary to the Government of the Federation (SGF) and Chairman of the Presidential Task Force (PTF) on COVID-19 announced the extension of the second phase of eased lockdown by another four (4) weeks.

Governor Babajide Sanwo-Olu of Lagos State announced the closed down of the Eti-Osa Isolation Centre, with effect from Friday, 31st July 2020. He also mentioned that the Agidingbi Isolation Centre would also be closed and the patients relocated to a large capacity centre.

Due to the increased number of covid-19 cases in Nigeria, the Nigerian government ordered the reopening of Isolation and treatment centres in the country on Thursday, 10th December 2020.

On 26th January 2021, the Federal Government announced the extension of the guidelines of phase 3 of the eased lockdown by one month following the rising cases of the coronavirus disease in the country and the expiration of phase 3 of the eased lockdown.

On 28th February 2021, the federal government confirmed that the first tranche of Covid-19 vaccines will arrive in Nigeria on Tuesday, March 2nd, 2021.

On Tuesday, 2nd March 2021, the National Primary health Care Development Agency announced the arrival of the expected COVX Astrazeneca/Oxford covid-19 vaccines.

On Saturday, 6th March 2021, President Muhammadu Buhari and his vice, Yemi Osinbajo received vaccination against the covid-19 as the State House in Abuja.