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Lagos International Trade Fair to get permanent site soon, Sanwo-Olu vows 

The Lagos International Trade Fair will soon get a permanent site different from its current makeshift location.

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Social clubs, recreational centres to reopen August 14, Lagos International Trade Fair to get permanent site soon, Sanwo-Olu vows , Lagos State discloses road expansion plans in an effort to combat traffic, Lagos State cracking down on Uber, Bolt, Ocar a week after Okada, Keke Napep ban , LASG increases health workers’ allowances, commissions local production of face masks

The Lagos International Trade Fair will soon get a permanent site different from its current makeshift location. This was disclosed by the Lagos State Governor, Babajide Sanwo-Olu.

The Details: The Governor, who said he would ensure the Lagos International Trade Fair meet international standard, hoped that the decision would cut down operational challenges exhibitors face in displaying their goods.

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[READ MORE: Lagos Int’ Trade Fair: Foreign exhibitors lament over border closure]

Sanwo-Olu made this declaration after inspecting some pavilions at the ongoing 2019 Lagos International Trade Fair, taking place at the Tafawa Balewa Square (TBS), Lagos.

The theme of the trade fair, which features over 2000 foreign and local exhibitors, is “Connecting Businesses, Creating Value.”

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The Lagos State Governor was accompanied by President, Lagos Chamber of Commerce and Industry, (LCCI) Mr Babatunde Ruwase. According to the LCCI President, the trade fair was a platform for Micro, Small and Medium Enterprises (MSMEs) to advertise their products.

“I am here on an on the spot assessment and going round few of the pavilions at the trade fair. As you can see, I have to come in here to encourage our MSMEs that are on display. 

“This is real governance and collaborative initiative. This is an annual event, but we need to upscale it,” he said.

What you should know: The Lagos international trade fair was first held in 1977 shortly after Eko Hotels and Suites was completed. It is a yearly event organized by the Trade Promotions Board and the oldest chamber of commerce in Nigeria: the Lagos Chamber of Commerce and Industry (LCCI). It is reputed to be the largest business market in the ECOWAS sub-region as it attracts investors from other parts of the world. It is a 10-day annual fair which begins on the first Friday of November.

[READ ALSO: Border closure is a threat to forthcoming Lagos Trade Fair – LCCI]

While the event has grown to be the largest trade show in sub-Saharan Africa, attracting both national and international entrepreneurs from over 1600 companies all over the world, it has also changed location twice over the last three decades.

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It was initially staged at the Lagos Trade Fair Complex at Badagry Expressway, Ojo before relocating to Tafawa Balewa Square. The Lagos International Trade Fair complex is a hexagonal shaped exhibition hall covered with space roof elements and shading panels, which formed a new trend in architectural innovation of its time over the years.

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Reincarnated as a lover of stocks, Angel investors, seed funds, and anything aligned to tech or startups raising money, Joseph's work at Nairametrics involves following the money to wherever it leads. Before joining Nairametrics, he won an investigative journalism fellowship with ICIR, appeared in several national dallies, with hard-hitting opinions, features and investigative pieces. He has also engaged in content marketing and copywriting for a top e-commerce firm in Nigeria.

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Coronavirus

Lagos sets up committee to monitor worship centres compliance to COVID-19 protocols

To ensure compliance to COVID-19 protocols, the Lagos government has set up a committee.

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Lagos SEC meeting goes virtual as full lockdown commences, Partial lockdown guidelines for businesses from May 4

Lagos state government has constituted a Monitoring and Compliance Committee to ensure worship centres comply with the COVID-19 protocols, as they open for services.

This was disclosed by the Commissioner for Home Affairs, Prince Anofiu Elegushi on Friday, via the state government’s Twitter handle.

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Back story: A few days ago, Nairametrics reported when the state government introduced some measures and conditions that must be met/fulfiled by all religious centres and places of worships that are planning to reopen, following further relaxation of lockdown.

Some of the measures are:

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* Only regular services/gatherings are permitted to hold. Night vigils and other non-regular programmes remain prohibited until further notice.

* Attendees above 65 years are strongly discouraged from attending worship services.

* Consider holding services and gatherings in large, well-ventilated areas or outdoors, as circumstances and faith tradition allow.

* No face mask, no entry policy, must be maintained throughout the duration of the services.

* Regular cleaning and disinfection of facilities must be carried out to maintain clean and hygienic environments before and after every service.

Meanwhile, Prince Elegushi explained that the State Government is satisfied with the readiness of religious leaders
to observe the criteria on protocols for the re-opening of worship centres in the State.

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He noted that the partial re-opening of Churches and Mosques is a pilot scheme that is predicated on the strict observance of protocols of monitoring, compliance and enforcement of COVID-19 guidelines by worship centres.

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Update: Fuel scarcity looms as NUPENG directs Tanker drivers to withdraw services in Lagos

This was disclosed in a press statement by NUPENG on Friday, August 7, 2020.

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The scarcity of petroleum products appears to be looming in Lagos as the leadership of Nigerian Union of Petroleum and Natural Gas Workers (NUPENG) has directed its members to withdraw its services in Lagos with effect from Monday, August 10, 2020.

This is due to the failure of government authorities to address the various issues that have been causing serious pains and harrowing experience on the petroleum tanker drivers in the state for several months now.

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This was disclosed in a press statement by NUPENG on Friday, August 7, 2020.

NUPENG in its statement revealed that the entire rank and file members of the Union are deeply pained and frustrated by the so many challenges being consistently faced by Petroleum Tanker Drivers in Lagos State.

They said that they are left with no other option but to direct its members to withdraw their services in Lagos State until the State Government and other relevant Stakeholders address these critical. challenges.

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The statement from NUPENG reads, ‘’The National Leadership of Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has directed the withdrawal of services of Petroleum Tanker Drivers from Lagos State with effect from Monday, 10th August 2020 following the failure of various authorities in the State to address three major issues that have severely caused pains and harrowing experiences on the hapless Petroleum Tanker Drivers in the State for several months now.’’

‘’The entire rank and file members of the Union are deeply pained, frustrated and agonized by the barrage of these challenges being consistently faced by Petroleum Tanker Drivers in Lagos State and are left with no other option but to direct the withdrawal of their services in Lagos State until Lagos State Government and other relevant Stakeholders address these critical challenges.’

The Union reiterated that It is sad and disheartening to note that they had made several appeals and reports to Lagos State Government and the Presidential Task Force for the decongestion of Apapa on these challenges but all to no avail.

They said that they cannot afford to fold their arms while their members are being consistently and continually extorted, intimidated, harassed and victimized by different groups and segments in Lagos.

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President Buhari signs amended Companies Allied Matters bill

The President’s action on the document repealed and replaced the extant Companies and Allied Matters Act, 1990.

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Budget: FG completes just 31.7% of constituency projects, Nigerians react to President Buhari's signing of Finance Bill 

President Muhammadu Buhari has assented to the Companies and Allied Matters Bill 2020, which was recently passed by the National Assembly.

This was disclosed in a statement signed by a media aide of President Buhari, Femi Adesina and shared by the Personal Assistant to the President, Bashir Ahmad, via his Twitter handle.

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According to the statement, the President’s action on the document repealed and replaced the extant Companies and Allied Matters Act, 1990, and introduced several corporate legal innovations geared toward enhancing ease of doing business in the country.

Key innovations in the new Act:

* Filing fee reductions and other reforms to make it easier and cheaper for small and medium-sized enterprises to register and reform their businesses in Nigeria;

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* Allowing corporate promoters of companies to establish private companies with a single member or shareholder, and creating limited liability partnerships and limited partnerships to give investors and business people alternative forms of carrying out their business in an efficient and flexible way;

* Innovating processes and procedures to ease the operations of companies, such as introducing Statements of Compliance; replacing “authorised share capital” with minimum share capital to reduce costs of incorporating companies; and providing for electronic filing, electronic share transfers, e-meetings as well as remote general meetings for private companies in response to the disruptions to close contact physical meetings due to the COVID-19 pandemic;

* Requiring the disclosure of persons with significant control of companies in a register of beneficial owners to enhance corporate accountability and transparency; and

* Enhancing the minority shareholder protection and engagement; introducing enhanced business rescue reforms for insolvent companies; and permitting the merger of Incorporated Trustees for associations that share similar aims and objectives.

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