Brands/Products
NEPZA Grants Licence for $2.5b Maritime Africa Economic City
By Dipo Olowookere
The Nigeria Export Processing Zones Authority (NEPZA) has granted a licence to Nigeria’s largest Free Trade Zone and Mega Port project – the Maritime Africa Economic City otherwise known as the Badagry Free Zone.
NEPZA is responsible for the facilitation of investment into Free Zones in the country.The Maritime Africa Economic City, which is being developed by a consortium of top local and international companies, is part of the moves Nigeria hopes to use to retain its regional hub status for maritime and other business investment activities.
Managing Director of NEPZA, Mr Gbenga Kuye, officially handed over the licence to the Project Director of the Zone, Patrick Bird, in Abuja.
Speaking on the development, Bird said: “Today marks a tremendous milestone in the development of the Badagry project. With NEPZA, we intend to develop Maritime Africa Economic City into one of the most successful special economic zones in all of Africa.
“The benefits of having this approval are enormous for our clients and despite the current downturn in the economy; we are still fielding a lot of interests from domestic and foreign companies wanting to set up in Badagry.
“We thank NEPZA for their continued support. This is going to be a great partnership to the benefit of Nigeria,” he said.
Bird highlighted some of the benefits of the new Free Trade Zone to include various tax advantages, 100 per cent repatriation of profits and dividends, immigration incentives, round the clock operations, and fast-track cargo clearance procedures.
The $2.5 billion Maritime Africa Economic City will be developed on a 1,100 hectare of land with over six kilometres of quay wall, including a container terminal, roll-on-roll-off (RORO) terminal, general cargo terminals, oil service centre and refined products import terminals.
It will also include a power plant, oil refinery, industrial park, warehousing and inland container depot functions as well.
The Zone is connected to Lagos by the Lagos-Badagry Expressway, which is currently being upgraded and expanded by the Lagos State Government as well as the Porto Novo Creek, allowing for the barging of cargo between the existing port system of Lagos and the new facility.
A rail line will also be developed in the future to connect the new Free Trade Zone for even more seamless transit of goods.
Lagos State Governor, Mr Akinwunmi Ambode, had recently described the Badagry Free Zone and Mega Port project as a major turning point that would go a long way to bring about global growth to Nigerian waters and by extension the nation’s economy.
Mr Ambode said the project would also complement the emergence of Lagos as the fifth largest economy in Africa.The Federal Government approved the construction of the proposed Mega Port and Free Zone at the Federal Executive Council meeting of August 3, 2016.
Also, speaking in support of the project, Minister of Transport, Mr Rotimi Amaechi, said the project will boost Foreign Direct Investment (FDI) in the country.
The Minister of Information, Mr Lai Mohammed, said the approval showed that Nigeria is still a preferred investment destination in Africa despite the challenges it currently faced.
The Minister of Power, Works and Housing, Mr Babatunde Fashola, while thanking President Muhammadu Buhari for granting the approval, said: “There are bigger vessels now being built across the world that require larger depths and drafts to berth.
“Now some of our competitors on the continent like Djibouti are building bigger ports, so if we don’t build this port, we risk becoming uncompetitive and we risk a threat to our maritime hub status in the sense that we may become a transhipment port instead of a port of original destination.”
http://guardian.ng/business-services/nepza-grants-licence-for-2-5b-maritime-africa-economic-city/
By Modupe Gbadeyanka
Residents of Egbin, Ijede, and Ipakan in Lagos State recently trooped out for the 7th Annual Medical Outreach of Egbin Power.
The three-day medical outreach was organised in partnership with a Non-Governmental Organisation (NGO) known as Livewell Initiative in line with the power-generating company’s commitment to ensuring healthy lives and well-being of its host communities.
This programme also aligns with the United Nations (UN) Sustainable Development Goal 3 (SDG 3) – Good Health and Well-being.
The outreach attracted over three thousand people, including children, adults and nursing mothers, who enjoyed cardiovascular, arthritis, dental, eye-check, diabetes tests, malaria treatment, hepatitis screening, and blood pressure examination.
It was gathered that eyeglasses, dental kits, and medications were administered at no cost to the residents after careful examination by qualified medical practitioners.
“At Egbin Power, we recognise that the health and well-being of our host communities is crucial to our success. This medical outreach programme is one of the ways we demonstrate our commitment to giving back to our host communities.
“It is also in alignment with our commitment to SDG 3 and we believe that access to quality healthcare is a fundamental right, and we will continue to work towards making it a reality for all,” the Head of Corporate Communications and Branding at Egbin Power, Mr Felix Ofulue, stated.
“We are proud to partner with Egbin Power on this medical outreach programme. Together, we are making a positive difference in the lives of the people in these communities,” the Managing Director of Livewell Initiative, Dr Bisi Bright, said.
Also speaking at the event, the Aro of Egbin Kingdom, Mr Olayemi Olukunga, said, “We are grateful to Egbin Power for their kindness and generosity. This medical outreach programme has become an annual tradition that we look forward to, and we appreciate the positive impact it has on our community.”
One of the beneficiaries, Mrs Wasilat Ogundipe, thanked Egbin Power for the gesture, saying, “It affords us timely access to free medical examinations, enabling our children, parents and vulnerable community members to address their health concerns.”
By Adedapo Adesanya
International Workplace Group (IWG), the world’s largest provider of hybrid working solutions with notable brands like Spaces and Regus, is opening two state-of-the-art flexible workspaces in Lagos to meet the rising demand.
The addition of IWG’s latest locations, HQ Lagos Lekki Link Bridge and Regus Lagos Mansard Place, followed the business posting its highest-ever revenue, cashflow and earnings growth in its history and achieving rapid network growth, signing 465 new locations in the first half of 2024 alone.
According to the company, the adoption of hybrid working rapidly is accelerating across Nigeria and these new locations in Lagos are part of the drive by IWG to meet the sharply rising demand for top-class flexible working space in the area.
Its unique offering will enable local people to experience living in a “15-minute” city, allowing workers to work close to their homes without commuting far from where they live.
The HQ workspace is set to open in Lekki in March 2025 and will It will be located on the 2nd and 3rd floor while the Regus location at Mansard Place (situated at Plot 928, Bishop Aboyade Cole Street, Victoria Island) will be on the 3rd floor of the six storey building and will open in February 2025.
The buildings will provide space for established firms and start-ups across a range of industries, while IWG’s Design Your Own Office service allows companies to tailor their space entirely to their requirements. The new locations will include facilities including private offices, meeting rooms, co-working and creative spaces.
With explosive market growth as companies of all sizes adopt hybrid working for the long-term, it is predicted that 30 per cent of all commercial real estate will be flexible workspace by 2030 and IWG believes that partners will be able to capitalise on this fast-growing sector,
The potential for further growth is exponential with an estimated 1.2 billion white collar workers globally and a total addressable market of more than £1.57 trillion. Conventional office occupancy will continue to fall as businesses require less traditional space and turn to flexible workspace instead.
Last year alone, IWG welcomed over 800 new partner locations and counts 83 per cent of Fortune 500 companies among its customer base.
Speaking on this, Mr Mark Dixon, CEO & Founder of International Workplace Group Plc, commented: “We are establishing a stronger and much-needed footprint in Nigeria with this these latest openings.
“As an important business hub Lagos is a fantastic place for us to boost our expansion plans. The need for high-quality flexible workspaces continues to soar as hybrid working becomes the new normal.
“We are very pleased to work in partnership with Sterling Bank and APD Mansard Place to develop the brand under a management agreement that will add a cutting-edge workspaces to their the buildings.
“Our openings in Lagos comes at a time when more and more companies are discovering that flexible working boosts employee happiness and satisfaction, while helping the environment. Our workplace model is also proven to increase productivity and allows for a business to scale up or down at significantly reduced costs.”
By Modupe Gbadeyanka
Another award has been added to the shelves of Airtel Nigeria for the quality service it offers its numerous subscribers.
At the 14th Nigerian NewsDirect Awards held at the Lagos Oriental Hotel on Friday, December 6, 2024, the company went home with the Most Preferred and Admired Telecommunications Brand award.
The chief executive of Airtel Nigeria, Mr Dinesh Balsingh, thanked the news platform for the recognition, reiterating the dedication of the organisation towards the growth of Nigeria.
“At Airtel, we remain steadfast in our mission to enrich lives and contribute to the sustainable growth of our nation, and we are proud to receive this award as the Most Preferred and Admired Telecommunications Brand.
“This recognition reaffirms our commitment to connecting Nigerians, driving digital inclusion, and empowering communities through innovative solutions,” he said.
The ceremony, themed Achieving Economic Prosperity: The Role of Human Capacity Development, Fiscal Prudence, and Revenue Generation, celebrated outstanding contributions made by individuals and corporate organisations to national development across sectors and industries.
The chairman of Odu’a Investment Limited, Mr Bimbo Ashiru, thanked all participating entities for their “continuous contributions and support to the nation’s growth.”
“You have demonstrated excellence and have significantly contributed to Nigeria’s progress and we believe this platform will continue to highlight and encourage best practices across industries,” he stated.
The event attracted several persons, including the chairman of the Lagos State Internal Revenue Service (LIRS), Mr Ayodele Subair; and the Registrar-General of the Corporate Affairs Commission (CAC), Mr Hussaini Ishaq Magaji; among others.
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