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NIPC, Dotmount to Host Middle East Investors Summit

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Middle East Investors Summit

By Adedapo Adesanya

Nigerian Investment Promotion Commission (NIPC) and Dotmount Communications have announced a new partnership to co-host the upcoming Middle East Investors Summit and Expo, in a move to boost foreign investment in Nigeria and Africa.

This strategic collaboration aims to attract investors from the Middle East and beyond, showcasing Nigeria and Africa’s vast investment opportunities themed theme Driving Economic growth through trade and investment, the conference aims to showcase the untapped potential of the region and provide valuable insights and networking opportunities for participants.

Speaking on the move, Mrs Aisha Rimi, Executive Secretary of NIPC said, “We are thrilled to partner with Dotmount Communications to bring this prestigious event to Nigeria. The Middle East Investors Summit and Expo presents a unique opportunity for Nigerian and African businesses to connect with investors from the Middle East and globally, driving economic growth and development.”

“The expo will provide a platform for exhibitors to showcase their products and services, facilitate B2B meetings and investment deals, and promote Nigeria and Africa as attractive investment destinations,” said the President of Dotmount Communications. “We are confident that this partnership will yield significant benefits for all stakeholders and contribute to the growth of the Nigerian and African economies.”

This partnership builds on a previous announcement of a monumental $90 billion investment partnership between the Al Amari Group of Bahrain and Dotmount Communications for the Middle East Investors Summit and Expo. This unprecedented deal is set to revolutionize the investment landscape in Africa, fostering economic growth and development across the continent.

The Middle East Investors Summit and Expo promises to bring numerous benefits to Nigeria and Africa, including increased foreign investment, job creation, infrastructure development, and enhanced regional trade and cooperation.

The expo is scheduled to take place on July 4-5, 2024, at the Transcorp Hilton Hotel, Abuja Nigeria and will feature keynote speeches, panel discussions, exhibition, and networking opportunities. Top investors, business leaders, and policymakers from the Middle East and globally are expected to attend.

The conference brings together government officials, business leaders, distinguished speakers, industry leaders, and investment experts from both regions to address challenges and promote sustainable investments. The event will also showcase investment projects, success stories, and innovative solutions, demonstrating the potential for mutual growth and cooperation.

There are expectations of over 700 participants, including high-profile investors, business executives, and government representatives, to attend the expo. The event has already garnered significant interest, with numerous partners confirming their support.

“The Middle East Investors Summit and Expo is poised to become a landmark event in the investment calendar, facilitating meaningful connections and driving economic progress in Africa. As the continent continues to attract global attention, this expo will play a vital role in shaping the investment landscape and fostering a spirit of cooperation between the Middle East and Africa,” a statement stated.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Nigeria’s Cocoa Output May Fall 11% in 2025-26 Season

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cocoa-farmers

By Adedapo Adesanya

Nigeria’s cocoa output is projected to fall by 11 per cent to 305,000 tons in the 2025-2026 harvest season, Bloomberg reported on Monday.

Cocoa is one of Nigeria’s agricultural products, with the country ranked among the top five producers in the world.

The country’s output could be down by a difference of 39,000 tons from a projected 344,000 tons in the current season, which ends in September.

According to the publication, this development is part of a wider problem among West African producers which will see the region head into another disappointing harvest.

Bloomberg said despite favourable weather in previous seasons, structural constraints including aging cocoa trees and crop diseases may continue to limit output and keep prices high.

According to Mr Mufutau Abolarinwa, the head of the Cocoa Association of Nigeria, changing weather patterns have delayed key rainfall and strong winds have damaged fresh flowers and young cherelles.

He added that these have reduced the number of pods that could have contributed to output.

According to Bloomberg, while the situation is bleaker for Nigeria, it is comparatively better for bigger producers like Cote d’Ivoire and Ghana.

In Cote d’Ivoire, the biggest producer, is projected to collect 1.4 million tons during the main crop harvest between October and March, which is about in line with the expected total for this season’s main crop.

In neighboring Ghana, where the harvest begins this month, the output is projected at 620,000 tons, well below the country’s historical peak.

Cameroon is an anomaly with production expected to rise 12 per cent to 300,000 tons, according to the country’s Cocoa and Coffee Interprofessional Council.

The result means global cocoa supply will likely stay tight and prices will rise, even as weaker demand offers some relief following an estimated 40,000-ton shortfall this year.

According to analysts, JPMorgan forecasts prices staying above $6,000 a ton, while Citi expects $7,000 in the next year , which more than double the long-term norm.

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Lagos Declares Adron Homes, Aina Gold Estate, Diamond Estate, 173 Others Illegal

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Lagos State government

By Modupe Gbadeyanka

The Lagos State Government has listed 176 estate developments spread across the state as illegal, giving them 21 days to process their layout approvals.

In a document published by the Ministry of Physical Planning and Urban Development on Monday, owners and developers of these estates described as illegal failed to register with the appropriate agencies before embarking on the projects.

In the notice signed by the Permanent Secretary in the Office of Physical Planning, Mr Oluwole Sotire, the importance of all developers and real estate practitioners registering with the Lagos State Real Estate Regulatory Authority (LASRERA), which is responsible for regulating, coordinating, and monitoring real estate practitioners in the sector, was emphasised.

The notice listed the illegal estates, mostly located in the Eti-Osa, Ajah, Ibeju-Lekki, and Epe axis of the state, as Adron Homes, Elerangbe; Aina Gold Estate, Okun-Folu; Diamond Estate, Eputu; Prime Water View Garden, Ikate Elegushi; Lekki Palms Estate, Olomowewe; Living Spring Estate, Lafiaji; Atlantic View Estate, Lekki; Yomade Heritage, Epe Road; and Royal View Estate, Ikota, among others.

The developers have been asked to submit the necessary documents to Mr Sotire within 21 days at the Ministry of Planning and Urban Development in Alausa, Ikeja, for the necessary layout approvals.

Below are all the affect estates;

176 illegal estates Lagos

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Guild of Editors, SERAP Kick Against Niger Governor’s Closure of Badeggi FM

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Badeggi FM

By Adedapo Adesanya

The Nigerian Guild of Editors (NGE) and the Socio-Economic Rights and Accountability Project (SERAP) have separately condemned the recent order for the closure of Badeggi Radio by Governor Mohammed Bago of Niger State.

Business Post reports that the Niger State Governor had stripped Badeggi FM radio station of its license and allegedly threatened to demolish the station’s premises over its allegations of inciting violence in the state.

On its part, NGE, which is the apex body of editors in Nigeria, said in a statement that the governor’s action was a “blatant attack on press freedom and democracy.”

Speaking on behalf of the organisation, the guild‘s President, Mr Eze Anaba, and its General Secretary, Mr Onuoha Ukeh said, “This act of censorship and intimidation undermines the fundamental principles of a democratic society where free press is essential for holding those in power accountable,” adding that the governor acted outside his powers to order the closure of a radio station.

“The power to sanction television and radio stations only lies with the Nigerian Broadcasting Commission (NBC) after a thorough investigation of any alleged breach of the code.

“We are happy that the Minister of Information and National Orientation, Mallam Mohammed Idris, has pointed this out.

“This should go beyond observing the anomaly. The Federal Government should order the unsealing of the premises of the radio station, while investigation is carried out.”

The statement said arbitrary closure of media houses was a reminder of the dark days of military rule.

It, however, noted that Mr Bago’s allegation of incitement of violence by the radio station was a serious issue which had to be investigated and proven before any action could be taken.

“We urge the media to operate under strict adherence to the code of ethics of journalism, with responsible conduct at the back of the minds of the professionals,” it said.

The statement called on the authorities to take measures to respect the rights of citizens to access information and express themselves freely.

On its part, SERAP urged Governor Bago to “immediately reverse the arbitrary and unlawful decision to strip Badeggi FM radio station of its licence, reinstate the station’s licence, and withdraw your threat to demolish the station’s premises”

The organisation said: “Your vague, unfounded and unsubstantiated allegations of ‘inciting violence’ against Badeggi FM and its owner are apparently made to silence the radio station and its owner.”

SERAP said, “Silencing critical or dissenting voices under the guise of vague and unsubstantiated national security concerns is a fundamental breach of your constitutional oath of office and Nigeria’s international human rights obligations.”

“Silencing Badeggi FM and its owner would have a chilling effect on the protection of freedom of expression and media freedom across several states.”

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