Connect with us

    Business

    Ooni of Ife Discusses Business and Peace Initiative in Kenya

    Published

    on

    Ooni of Ife

    In continuation of his parley with world leaders across the continent, Arole Oduduwa, Ooni of Ife, Ooni Adeyeye Enitan Ogunwusi Ojaja II CFR recently visited East Africa; Kenya in Nairobi where he met with Kenyan President, His Excellency, William Samoei Ruto on a state visit accompanied by Governor of Machakos County in Kenya, Her Excellency Wavinya Ndeti and his queen; Olori Temitope Enitan Ogunwusi, to discuss his Global Peace Agenda and his Ojaja Pan-African Business Initiatives which is currently extending its tentacles outside the shores of Nigeria and his pursuit of welfarism for people of African descent, unification of African people globally for peace and economic stability as the spiritual head of the Yoruba Race globally.

    Receiving His Imperial Majesty and his entourage at the Kenyan Government House in Nairobi, President Ruto noted that; he is fascinated at His Majesty’s quest to ensure Africa continues to wax stronger in peace and unity using his revered stool bridging the gap between the traditional institution, Government institution, and the people. He however also noted that; he has read a lot about the great exploit of His Majesty in investment in human development and business success which is why He and His people are opening their arms wide to his majesty and are willing to support His initiative and further strengthen the bond between Nigeria and Kenya. “Your Majesty, I sincerely welcome you and your team on behalf of the government and good people of Kenya. We have been told of how you have consistently used your throne to work for peace and prosperity of our continent and the world at large, you are indeed a very unique Pan-African king of our time. This is what kings should be doing.

    “Kenyans and Nigerians are partners in progress for the development of Africa. The two countries have enjoyed good diplomatic ties together and this visit and investment mission in Kenya will surely further strengthen the existing cordiality between our two countries.”

    “Kenya is opening for big enterprises, come and set up businesses here and I can assure you and members of your Ojaja Pan-African Business Initiatives some of whom are already operating in some East African countries of the unflinching support of my government”, President Ruto disclosed.

    Appreciating President Ruto’s warm welcome, Ooni Ogunwusi described him as a Pan-African president and exemplary leader the African people can trust. He further commended him for his sterling leadership qualities in making Kenya a leading stable democracy in Africa and also expressed his confidence in the president’s capacity to deliver monumental dividends of democracy to the people of Kenya.

    “Africa is the most appealing continent, with immense natural fortune and untapped human capital that are altering the global workforce, trade, and investment. I’d like to pay special tribute to President William Kipchirchir Samoei Arap Ruto CGH for demonstrating the oneness of Africa and the unrivalled special reception he accorded me and my entourage during my official trade and investment visit to the Republic of Kenya.

    “I’m thankful for the demonstration of his special commitment to push for the inclusion of traditional institutions as enablers of good governance in Africa as I unveiled the Ooni Ojaja Pan-Africa Business and Investment Initiative with a large contingent of entrepreneurs across Africa. It is clear that we must consciously expand our economic engagement with unprecedented access to markets between our two countries. Nigeria needs Kenya, and Kenya needs Nigeria. Our ambition is to develop the most ambitious ties that will propel us to sell goods and services more easily across borders while our children can pursue opportunities across Africa without barriers of immigration and unfriendly movement policies.

    “The borderless African continent is an unexploited asset that is critical to unlocking the economic potential of African countries. The vision of the African Continental Free Trade Area (AfCFTA) is one of the flagships for the continent’s shared wealth and economic boom. It is a game changer that can provide a tariff-free framework that should have been in existence since 1957 when Ghana became the first African country to achieve independence from colonial rule. It is time to build the “Africa that We Want,” not as a slogan, but as an epic movement that restores Africa’s honour, pride, and reverence, from aid to trade.” Ooni Adeyeye disclosed.

    Ooni through the Ojaja Pan African business initiative is currently investing in many pies of business like; the Ojaja More retail outlets across South West Nigeria, Ojaja Resort currently in Ile-ife and Akure, Ojaja University in Ilorin among other business investments.

    Business

    Premium Breadmakers Association of Nigeria holds successful AGM & EXCO elections in Lagos

    Published

    on

    Lagos, Nigeria – May 10, 2024 – The Premium Breadmakers Association of Nigeria (PBAN) proudly announces the successful conclusion of its Annual General Meeting (AGM) and Executive Committee (Exco) Elections held on May 9th, 2024, in Lagos, Nigeria.

    The AGM, a hallmark event in the breadmaking industry, brought together esteemed members and industry leaders to reflect on the achievements of the past year and chart the course for the future. The assembly provided a platform for robust discussions on industry trends, challenges, and opportunities, fostering collaboration and innovation within the sector.

    One of the pivotal highlights of the AGM was the democratic process of electing the new Executive Committee to lead PBAN into its next chapter of growth and excellence. With a commitment to transparency and accountability, members cast their votes to elect passionate and visionary leaders who will steer the association towards its strategic objectives.

    The newly elected Executive Committee comprises dynamic individuals renowned for their dedication to the breadmaking industry and their unwavering commitment to advancing its interests. Their diverse expertise and collective vision promise to propel PBAN to new heights of success, innovation, and sustainability.

     

    Names and positions of the Executive Committee:

    1. Emmanuel Onuorah – President
    2. Abayomi Awe – Deputy President
    3. Emmanuel Onyoh – General Secretary
    4. Abayomi Okikiola – Assistant General Secretary
    5. Kene Mbuba – Treasurer
    6. Babalola Thomas – Public & Industrial Relations Officer
    7. Ekaette Okoi – Assistant Public & Industrial Relations Officer
    8. Adijat Olaniyi-Olopade – Financial Secretary
    9. Adebiyi Adebowale – Auditor
    10. Oludare Oladeji-Ojo – Compliance & Provost Officer
    11. Abisola Dejonwo-Tokan – Welfare Officer

     

    “We are thrilled to have successfully concluded our AGM and Exco Elections,” said Emmanuel Onuorah, President of PBAN. “The enthusiastic participation of our members reflects their dedication to the growth and prosperity of the breadmaking industry in Nigeria. With our newly elected Executive Committee at the helm, we are confident in our ability to navigate challenges, seize opportunities, and drive positive change for our members and stakeholders.”

    PBAN extends its gratitude to all attendees, participants, and volunteers whose contributions were instrumental in making the AGM and Exco Elections a resounding success. The association reaffirms its commitment to serving the interests of its members, promoting excellence in breadmaking, and contributing to the socio-economic development of Nigeria.

    Continue Reading

    Business

    World Bank Blames FX Shortage, Naira Pressure For Parallel Market Resurgence

    Published

    on

    The World Bank has blamed the re-emergence of parallel currency exchange market in Nigeria on resistance toward the increasing pressure on the naira and the limited supply of forex at the official window.

    The Bank, in a report released on Wednesday in Washington DC, said the premium between the parallel exchange rate and the official rate widened from March 2020 until June 2023.

    “Despite changing the official exchange rate to better reflect market conditions in 2021—Nigeria operated multiple currency practices—the parallel rate premium continued to increase to 80 percent in November 2022 and then to about 60 percent in June 2023, as the Central Bank’s interventions to restrict foreign exchange demand and keep the exchange rate artificially low were met with declining FX supply from oil revenues,” said the report.

    It added that the prioritisation of strategic sectors and the imposed price ceilings and trade restrictions pushed transactions to the parallel market, which started to account for a large share of the foreign exchange transactions in the country, including for remittances, tourism, and exports of non-oil products.

    “After the unification and liberalisation of the exchange rates in June 2023, the NAFEX rate converged to the parallel one, closing the gap. However, resistance toward the increasing pressure on the Nigerian naira coupled with limited supply of FX at the official window has led to the reemergence of the parallel market premium,” the report said.

    The report, Africa’s Pulse, shows that Sub-Saharan Africa’s economic outlook remains bleak.

    It identified rising instability, weak growth in the region’s largest economies, and lingering uncertainty in the global economy as dragging down growth prospects.

    Economic growth in Sub-Saharan Africa, it said, is forecast to decelerate to 2.5% in 2023, from 3.6% in 2022.

    It added that Nigeria and Angola will grow at 2.9% and 1.3% respectively due to lower international prices and currency pressures affecting oil and non-oil activity.

    Continue Reading

    Business

    Nigeria’s Untapped Goldmine: Unlocking the Treasure Trove of Tourism

    Published

    on

    In the quest for a robust economic growth, one glaring truth stands out like a beacon of opportunity: Nigeria must diversify its resources. But alas, the powers that be seem to have a one-track mind, obsessively chasing oil money while our nation’s finances crumble beneath our feet. Unemployment soars, hunger gnaws at our people, and the cost of governance continues to spiral out of control.

    It’s high time we break free from this perilous dependence on black gold. Nigeria, a nation steeped in diverse culture and natural beauty, has a goldmine waiting to be tapped—tourism

    Our cultural heritage is a tapestry woven with threads of history and tradition, waiting to be showcased to the world. Festivals like the Eyo Festival, Argungi Fishing Festival, New Yam Festival, and the Durbar Festival could become global extravaganzas, attracting tourists from every corner of the planet. Imagine the economic windfall, the boost to SMEs, and, the creation of jobs and the enhancement of our global image as a hospitable and vibrant nation.

    But it doesn’t stop there. Nigeria boasts stunning beaches and waterways, prime for transformation into the maldives and Venice of Africa. Consider Makoko in Lagos, where people build their lives on the water – with proper development and management, it could become a traveler’s paradise, an unparalleled experience that visitors will cherish for a lifetime.

    And let’s not forget our diverse landscapes – from enchanting waterfalls to historic museums, impressive dams to mysterious caves, serene springs to lush parks, remarkable statues to majestic mountains and hills – we have it all! Yet, these treasures lie neglected, falling into disrepair, their vast potentials untapped.

    Let’s take a look at Kenya, another African country that’s become synonymous with thrilling safaris. Tourists flock there from all corners of the globe, including Nigeria, for wildlife experiences and encounters with nature. What is Nigeria known for in the tourism arena? We have the potential to create our own unique narrative, to become a destination choice that captures the hearts and minds of travelers worldwide.

    Egypt draws in hordes of visitors with its iconic pyramids and historic museums. When will Nigeria follow suit, investing in its cultural riches, tasty cuisines, Arts and local religions to attract both foreign and local visitors? We’re called the giants of Africa for a reason, and it’s high time we started acting like one.

    We possess the resources and the human capital to make this transformation happen. The sun is shining on Nigeria. Let’s seize this moment and unlock the treasure trove of tourism, not just for our economic growth but for the world to witness the beauty, history, and vibrant culture of our nation. It’s not merely an opportunity; it’s our duty to ourselves, our future generations, and the world that’s been waiting to explore the wonders of Nigeria.

    Ebere Joy is the current Miss Tourism Nigeria, a business consultant and financial advisor.

    Continue Reading

    Trending