Connect with us

BIG STORY

Buhari Inaugurates Lekki Deep Seaport, Imota Rice Mill In Lagos [PHOTOS]

Published

on

President Muhamnadu Buhari, on Monday, inaugurated the Lekki deep seaport and Imota rice mill projects in Lagos.

The deep seaport was completed in 2022, with a promise from the state government that commercial operations would commence in 2023.

The project, constructed by China Harbour Engineering Company Ltd (CHEC), occupies 90 hectares out of the entire 830 hectares of land reserved for the Lagos Free Zone (LFZ).

Situated in Lagos’ commercial centre, the deep seaport will allow 18,000 TEU capacity vessels, which are four times bigger than the ones berthing at Apapa seaports, thereby reducing the cost of container transportation from any part of the world.

On the other hand, the Imota project is a 32-metric-tonnes-per-hour rice mill built by the state to tackle food insecurity in the country.

With a capacity of 2.8 million bags of 50kg bags of rice yearly, the project is expected to generate 1,500 direct jobs; and 254,000 indirect jobs.

Speaking at the inauguration, Babajide Sanwo-Olu, Lagos governor, said efforts would be made to ensure that the Lekki deep seaport is free from traffic and commuting frustration.

He added that the seaport would reduce unemployment in the country.

“This magnificent infrastructure is a result of the combined efforts of the federal government, Lagos state government, and the private sector. It is going to generate thousands of jobs for citizens of Nigeria,” the governor said.

Meanwhile, Buhari is expected to commission the John Randle centre for Yoruba culture and history, and the groundbreaking for the blue line rail phase 2 (Mile 2 to Okokomaiko) tomorrow, Tuesday, January 24.

Here are photos below.

BIG STORY

UBA Takes Centre Stage At 2024 ECOWAS Mining Forum In Cotonou, Benin As Elumelu Gives Keynote Address

Published

on

Africa’s Global Bank, United Bank for Africa (UBA) Plc, has been announced as the official sponsor of the 4th edition of the ECOWAS Mining and Petroleum Forum (ECOMOF 2024) scheduled to take place at the Palais des Congrès in Cotonou, Benin from February 22 to February 24, 2024.

The regional event is expected to see a large gathering of key players and stakeholders in the mining and petroleum sectors of the Economic Community of West African States (ECOWAS) and as the financial institution of choice, with presence in 20 African countries and active involvement in major continental development projects, UBA is the preferred partner for the event, underlining the bank’s commitment to the growth of mining and Petroleum industry in the sub-region but to the whole not African economic development.

UBA Group Chairman, Tony Elumelu, would give the keynote address during the opening ceremony of this all-important event.

Elumelu who doubles as Chairman of Transcorp Group, with extensive interests in energy and power, will be speaking on the theme: “Geo-extractive Resources and Technologies: what pooling strategies for Value Creation in West Africa”

His speech is expected to highlight UBA’s increasing effort to support and develop the African continent through strategic investments in the key sectors of mining and petroleum.

Under the esteemed leadership of the President of the Republic of Benin, His Excellency, Patrice Talon, and the President of the Federal Republic of Nigeria and current President of ECOWAS, His Excellency Mr. Bola Tinubu, UBA Group will at the forum aim to restate its commitment towards supporting economic and social development across the continent.

The focus of ECOMOF 2024 underscores the significance of transforming the mining and oil sectors into economic pillars by formulating attractive policies for investors, essential for the sectors’ substantial contribution to the Gross Domestic Products (GDP) of ECOWAS member states.

The Transnational Corporation Group (Transcorp Plc) – a diversified conglomerate with strategic investments in various sectors, including power and energy – will also actively participate in the forum.

Key officials from UBA Group and Transcorp Plc, including the Chief Executive Officer UBA Africa, Abiola Bawuah; UBA’s Group Head, Corporate and Energy Bank, Ebele Ogbue, and President/ Chief Executive Officer, Transcorp Group, Owen Omogiafo will be actively involved in discussions and panels on the sidelines of the event.

Anticipated to attract over 2,000 participants from diverse sectors, including representatives from mining and oil industries, government officials, international and national investors, industry experts, ECOWAS delegates, and international organizations, ECOMOF 2024 promises to be a significant platform for collaborative dialogue and partnership building.

United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees’ group wide and serving over 35 million customers globally. Operating in 20 African countries and in the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting edge technology.

Continue Reading

BIG STORY

JUST IN: FG Working To Reduce Rising Food Prices Inherited From Past Government — Finance Minister Wale Edun

Published

on

Wale Edun, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, said that President Bola Tinubu’s administration inherited a surge in food and general commodity prices from the previous government.

He, however emphasized the government’s commitment to reducing food prices and tackling the nation’s high inflation rate.

Speaking at the Public Wealth Management Conference in Abuja on Tuesday, February 20, the finance minister acknowledged the hardships faced by Nigerians and outlined measures taken to alleviate their suffering.

He revealed that, as part of these interventions, the government has released 42,000 metric tons of grains, with an additional 60,000 metric tons scheduled for release soon.

Continue Reading

BIG STORY

JUST IN: State Police Bill Passes Second Reading At House Of Representatives

Published

on

A bill proposing the establishment state police has passed second reading at the house of representatives.

Sponsored by Benjamin Kalu, deputy speaker of the house, and 14 others, the bill proposes to transfer the term “police” in the 1999 constitution from the exclusive legislative list to the concurrent legislative list.

The bill, which comprises 18 clauses, seeks to amend sections 34, 35, 39, 42, 84, 89, 129 153, 197, 214, 215 and 216 of the constitution.

 

More to come…

Continue Reading

Most Popular