The Nation Newspaper

Tag: Alaghodaro investment summit

  • Ehanire, Izuwa, others call for policies to boost investors’ confidence

    Ehanire, Izuwa, others call for policies to boost investors’ confidence

    To address Nigeria’s infrastructural deficit, government must adopt proactive legislation and ensure transparency in accessing relevant information to boost investors’ confidence.

    This was the submission of stakeholders, at a plenary session on Infrastructural Development Imperatives of Edo Economic Development Agenda, at the Alaghodaro Investment Summit in Benin City, Edo State.

    Minister of State for Health, Dr. Osagie E. Ehanire, who was a participant at the session, said the federal government intends to build investors’ confidence by strengthening institutions and processes.

    Dr. Ehanire said, “all levels of government should be interested in expanding critical infrastructure by developing legislative frameworks to guarantee investors return on investment. This will enable them to build infrastructure that will fast-track economic growth.”

    The minister urged the Edo state government to ensure the passage of legislative frameworks to open up the space for investment in social infrastructure.

    Executive Director, Infrastructure Concession Regulatory Commission (ICRC), Chidi Izuwa, stressed on the need for the state government to collaborate with the federal government in reducing the country’s infrastructural deficit, noting that when it was necessary government should declare a state of emergency on the infrastructure sector.

    He added that state governments cannot address the challenge of infrastructure without a legal framework, stressing the need to ensure discipline and good governance.

    He applauded the initiative of the Edo State Government in implementing the Public Private Partnership (PPP) agency, adding that the move will boost investors’ confidence.

    “The creation of the subnational PPP resource centre will boost investment. It will address the challenge of infrastructure shortfalls in the country,” he added.

    Founding and Managing Partner, Perchstone and Graeys, Osaro Eghobamien spoke on the need for the state government to deal with uncertainty and the culture of kickbacks relating to attracting investors, noting, “information and a roadmap that will enable investors to identify investment opportunities in infrastructure sector in the state should be easily available on various communication platforms.”

    Akiniyemi Osinubi of International Finance Corporation (IFC), called for the creation of regulatory agency and framework to guarantee returns on investment, which is one of the elements considered by investors in the infrastructure sector.

    According to Osinubi “any investor who is coming to invest in infrastructure is on the lookout for structures that will guarantee he or she get returns from projects.”

  • Health experts urge govts to focus on primary healthcare

    Health experts urge govts to focus on primary healthcare

    To improve quality and reduce cost of accessing healthcare, federal and state governments should direct reforms and policies to deliver primary healthcare, provide health insurance for the poor and allow for private sector actors to handle tertiary and emergency healthcare.

    This was the submission of experts during the plenary on social welfare targeted at healthcare at the Alaghodaro Investment Summit, organised at the weekend by the Edo State Government, in Benin City.

    The Minister of State for Health, Dr. Osagie Ehanire, who was the discussion leader at the plenary, said that the Edo State government is on the verge of domesticating the National Health Act, noting that the move will greatly improve healthcare delivery in the state.

    According to him, “Not only is the Edo State government on the verge of domesticating the National Health Act, it is also working to have a health insurance scheme that will cover all. The state will also serve as a pilot for the implementation of the primary healthcare programme.”

    Former Chief Medical Director at the University of Benin Teaching Hospital (UBTH), Prof. Michael Ibadin, said that there was need for more private sector participation in healthcare delivery.

    Arguing that the dominance of government in health sector has stifled growth, he said, “We can improve healthcare delivery when we get more private sector participation. When we do this, we would have less incessant strikes. There is evidence that private hospitals are delivering good services. But most people have been left to suffer because a lot of people depend on service in public hospitals. We need this trend to change.”

    Dr. Christopher Otabor of Alliance Hospital, Abuja, said that Governor Godwin Obaseki’s experience in the private sector is one of the greatest assets he is bringing to governance, noting that government should provide guarantees that will allow people access healthcare cost-efficiently.

    “When it appears healthcare is anchored on private sector investment and accessing services is hard for the poor, government can provide insurance. The stage is being set in Edo State for this. Government doesn’t necessarily have to bring money to fund hospitals. It can provide guarantees and ensure that there is a stable environment for hospitals to thrive,” he said.

    Prof. Jonny Ikimalo of Prime Hospital said that the reason for poor health indices in Nigeria is due to poor budgetary allocations, condemning the fact that a lot of people have to pay for services out of their pockets when they are already in hospitals.

    According to him, “Healthcare is expensive and I have a problem when people talk about health insurance for the poor. People think that anything that relates with insurance is expensive because what we ordinary associate with insurance are cars, life and the likes. We should rather call it health plans. Healthcare is a social responsibility. So, much as we suggest that government should allow private investment, it should also provide cover for the poor.

    “What I understand from the visionary stance of the state governor, is that the state is already putting in place a health insurance scheme which will provide health coverage for everybody, including the underprivileged. I think it is work in progress and it is expected that this summit will make input into it.”

    Rev. Fr. Anslem Adodo of Pax Herbal Clinic noted that there was need to promote traditional medicine in the quest to attain universal health coverage, noting, “One of the surest means to provide healthcare to the people is to recognise the place of traditional healthcare. But to do this, we must reform and integrate traditional medicine in our health system in Edo State.”

  • Duke, Akpata, others call for policy, infrastructure for creative industry

    Duke, Akpata, others call for policy, infrastructure for creative industry

    Stakeholders in the nation’s creative industry on Saturday called on the Edo State Government to invest in theatres, incubation centers for creative people and put in place the right policies to drive her prestigious art and craft sector.

    Leading discussions during the session on “Edo Creative Industry” at the Alaghodaro Investment Summit in Benin City, former Governor of Cross River State, Donald Duke, commended Governor Godwin Obaseki of Edo State, for creating a separate session for the creative industry, in his effort to rebrand the sector in the state.

    “I congratulate the Edo State Governor on this summit. For the creative industry to thrive, you need to know your strength and weaknesses. Edo State is the best located state in Nigeria. No state is as endowed as Edo State and not even my state, Cross River, is as endowed in art and craft,” he said.

    He recommended that as the gateway state to the South-south, South-east, South-west and the Northern part of the country, Edo State should put in the place the structures for harnessing the socio-economic gains accruable from the tourism activities in the state.

    “Locationally, Cross River is at the end of West Africa. What we did in Cross River was to attract foot traffic to our state. We believed that when you attract foot traffic, people will spend money on arrival, and boost businesses in the state. Edo is better located and location is in itself an industry.”

    He urged Edo artistes to embrace modern technology to upgrade their processes.

    Olumide Akpata, Partner, Templars, enumerated the challenges facing the creative industry as lack of policies, infrastructure, access to funding and called for a synergy between the government and private practitioners to tackle the challenges.

    Film producer, Lancelot Oduwa Imasuen, urged the Edo State government to create a film corporation that coordinate the activities of film makers in the state.

    Other speakers recommended the adoption of modern technology in the production of crafts and art works to bridge the gap between demand and supply and in marketing the works on the internet to the global market.

  • FG set to approve three modular refineries in Edo – Kachikwu

    FG set to approve three modular refineries in Edo – Kachikwu

    …As Alaghodaro Investment Summit kicks off Friday

    As business leaders storm Benin City, the Edo State capital, Friday, for the Alaghodaro Investment Summit, Minister of State Petroleum Resources, Dr. Ibe Kachikwu, on Thursday in Benin City said the Federal Government is already processing applications received for the establishment of seven modular refineries in the state.

    He said three of the applications have reached the approval stage.

    Kachikwu disclosed this during the Stakeholders’ Engagement and Enlightenment Campaign in Niger Delta states, organised by the Federal Ministry of Petroleum Resources in collaboration with the Edo State Government, held in Benin City.

    The event is part of a series of activities heralding the Alaghodaro Investment Summit, which kicks off at the Edo Hotel, Okada Avenue, Benin City, and will play host to the crème of the business community across the globe.

    Kachikwu said the Federal Government was working to bring development to the Niger Delta region through the Modular Refineries Initiative, Gas Flare Commercialisation programme and collaboration with oil-producing states, on the Amnesty programme.

    He said the establishment of modular refineries is driven by the private sector, adding that designs, analysis and engineering work for three of the refineries have been done.

    Minister of Niger Delta Affairs, Pastor Usani Uguru Usani, said the meeting was to sensitise the people on Federal Government’s on-going initiatives in the region after earlier visits to the region.

    Usani said the Federal Government was reviewing the Amnesty programme to capture those who were not included earlier in the scheme.

    Governor of Edo State, Mr Godwin Obaseki said the Niger Delta Development Commission (NDDC) has not lived up to its duties, noting that the commission has failed to sign a Memorandum of Understanding (MoU) with the state on the reconstruction of the Benin-Abraka Express Road. 

    The governor called for a yearly stakeholders’ meeting to revive development by the federal government in the state.

    “Oil is located in 33 communities in three local government areas in the state, which include, Ovia North East, Orionmwon and Ikpoba Okha. We want to organise the oil-producing LGAs into clusters and work with federal government to help us with the physical planning and gap analysis to evaluate progress of development in the councils,” Obaseki said.

    Kachikwu announced the constitution of a committee to identify development needs within the state, comprising representatives of the Federal Government, State Government, NDDC and security agencies, which will be headed by the Secretary to the Edo State Government, Osarodion Ogie Esq. 

    Also present at the stakeholders’ meeting were delegates from the three oil-producing local government areas in the state, who called for provisions of health care centres, modular refineries, good roads and the inclusion of their youths in the amnesty programme, among others. 

  • Alaghodaro Summit: Edo fine-tunes strategy to become manufacturing hub

    Alaghodaro Summit: Edo fine-tunes strategy to become manufacturing hub

    With just two days to the kick-off of the maiden edition of Alaghodaro Investment Summit, organisers have said the session on manufacturing at the event will crystalise ongoing plans to re-invent Edo State as the manufacturing hub in Southern Nigeria.

    They said that the plans are embedded in the Benin Industrial Park (BIP) project, which ground-breaking will hold on November 11, at Ikpoba Okha Local Government Area, and is expected to house major manufacturing activities in the state.

    A session on healthcare at the summit is expected to rethink healthcare-as-a-business versus healthcare-as-a-public service, to deliver Universal Health Care in the state, which is to be led by the Minister of State for Health, Dr. Osagie Ehanire.

    In a statement Tuesday, the state government said that preparations are in top gear for the investment summit, which holds from November 10 to 12, at Edo Hotels, Okada Avenue, Benin City.

    The state said the discussions on manufacturing, which will be led by the Chief Executive Officer (CEO) of the Nigeria Sovereign Investment Authority (NSIA), will be focused on identifying the policies and reforms required to strengthen the manufacturing sector as well as changes in policy and practices that are required to aggressively stimulate effective backward integration especially in the manufacturing and extractive sectors.

    According to them, “with huge deposits of natural resources and a growing agricultural sector which could provide input for the manufacturing sector, Edo State is rightly positioned to become a manufacturing hub in the southern part of the country. Effective government policies and reforms are required to attract huge investments into the state’s manufacturing sector, strengthen backward linkages within the sector and ensure the production of quality outputs in a competitive manner.”

    The session will be moderated by the President of Manufacturers Association of Nigeria (MAN), Dr. Frank Udemba Jacobs, while the panellists include Chairman, BUA Group, Abdulsamad Rabiu; Director General of the Nigeria Export Promotion Council (NEPC), Olusegun Awolowo; Representative of Guinness Nigeria Plc., Mojisola Akpata; Dr. Joseph Makoju of Dangote Group; Ayobambo Kunle Salami of International Finance Corporation (IFC) and Managing Director (MD), Coca-Cola, Ekuma Eze.

    The statement noted that the session on healthcare will “explore the funding mix for the Edo Health Sector. It will unveil opportunities for leveraging technology and movable collateral register to expand access to capital, creating incentives for equity finance, deepening coverage through health micro-insurance, convergence with other verticals, developing health Credit guarantees.”

    The session will be moderated by the former Chief Medical Director (CMD), University of Benin Teaching Hospital (UBTH), Prof. Michael Ibadin, and have panellists which include, Dr. B. R. Shetty of NMC; Osarumen Cole of MobiCure; Rev. Fr. Anselm Adodo of Pax Herbal; Chinedo Ugwu-Chinwuba of General Electric Health; Dr. Johnny Ikimalo of Prime Hospital and Dr. Otabor Christopher of Alliance Hospital, Abuja.

  • Obaseki, others, discuss Edo, Nigeria investment opportunities at London Stock Exchange

    Obaseki, others, discuss Edo, Nigeria investment opportunities at London Stock Exchange

    As more transnational companies, multilateral organisations and several trade missions swell the numbers and ranks of participants in the maiden edition of Alaghodaro Investment Summit, the Governor of Edo State, Mr. Godwin Obaseki, was at the London Stock Exchange on Friday to speak to companies listed on the London bourse about the investment opportunities that abound in the state.

    Also at the London event are the Minister of Solid Minerals Development, Dr. Kayode Fayemi, the Chief Executive of the Nigerian Stock Exchange, Mr. Oscar Onyema and the Director General of the Debt Management Office, Ms Patience Oniha, who presented data to show Nigeria’s way to recovery after exiting economic recession.

    At a panel session entitled “The Nigerian Opportunity,” Obaseki who first came to the London Stock Exchange 30 years ago, took his audience of global business leaders through the opportunities in Agro processing, mining, infrastructure, education and healthcare amongst other sectors in the state.

    According to the governor, Alaghodaro Investment Summit is part of his administration’s drive to open up the state for more foreign and local investments and build a modern and progressive Edo state where every citizen is empowered with opportunity to live life in its fullness.

    His detailed and insightful presentation elicited the positive responses from the London Stock Exchange and international business leaders who assured that they would attend the Alaghodaro Summit in Benin City holding from November 10-12.

    He paraded the investment opportunities Edo State is offering investors such as the huge land mass for agro and agro-allied businesses and a favourable weather condition that have sustained the investments of Presco Plc. and Okomu Plc., both listed companies and the biggest projects financed on the continent-

    Azura-Edo Power Plant, which is showcasing project opportunities in the State.

    He told the audience at the London bourse that Alaghodaro which means moving forward in Edo language is a clear 30-year vision for the state, covering Institutional Reform, Economic Development, Social Welfare, Environmental Sustainability, and Art, Culture and Tourism

    He explained that his administration is in a hurry to mainstream the private sector in governance to harness the sector’s huge capital and expertise for an efficient public sector.

    “We are determined to see how the active collaboration between the state and the private sector can produce a win-win situation for both parties. The essence of our government is to serve as an enabler for businesses to thrive,’’ he said.

    Obaseki said that his decision to mark his one-year anniversary in office with Alaghodaro Investment Summit stems from the state government’s conviction that public-private partnership holds the key to unlocking the vast investment potential in the state.

    He added that participants would include local and international business leaders, investors seeking new environments where governments are committed to providing incentives for businesses, policy makers, industry experts as well as academia.

  • Edo Investment Summit: Over 3, 000 companies indicate interests

    Edo Investment Summit: Over 3, 000 companies indicate interests

    With less than three weeks to the commencement of the maiden edition of the high profile Alaghodaro Investment Summit holding in Benin City, the Edo State capital, organisers say online registration began in the early hours of Thursday, for the over 3, 000 participants expected at the event.

    Ayo Binitie, who is a member of the Marketing and Communication team as well as the Programme Research and Documentation team, said traffic on the summit’s Website is impressive as enquiries on the user-friendly website are treated with dispatch.

    “Registration is ongoing, all that is required of participants is a simple e-mail after filling the registration form on the Alaghodaro Investment Summit website. We respond to all enquiries within 24 hours,” Binitie said.

    He explained that the online registration is best for a high-profile summit of this nature as it fast-tracks registration of companies coming from the different parts of the world, irrespective of the different time zones.

    The updated list of participants has  Dr. Ndidi Edozien of Growing Business Foundation; Capt. Hosa Okunbo, Founder, Wells Sam Carlos Farm; Mrs. Ndidi Nwuneli MFR, Co-Founder, AACE Foods; Dr. Nteranya Sanginga, Director General  (DG), International Institute of  Tropical Agriculture (IITA); Steve Oronsaye, Former Head of Service of the Federation; Andrew Nevin of  PWC and Jumoke Oduwole of EBES.

    Others are Seun Onigbinde of Budgit; Mr. Tayo Amusan, Chairman, Persianas; Andrew Alli, Africa Finance Corporation (AFC); Wright Dejo, Transport Services Limited; Niyi Oguntoyinbo of Philly and Mools Group, Mr. Lazarus Angbaso, President, General Electric.

    Also attending are Mr. Anand Mahindra, Chairman, Mahindra & Mahindra Ltd.; Yewande Sadiku, Nigerian Investment Promotion Commission (NIPC); Engr. Joseph Makoju, DANGOTE Group; Dr. Cosmas Maduka, President/CEO, Coscharis Group and Dr. Innocent Ifediaso Chukwuma of Innoson Motors.

    Dignitaries expected to enrich discussions on security, law and order are Mr. Solomon Arase, Former Inspector General of Police; Justice Esohe Ikponwen, Chief Judge, Edo State; Olasupo Shasore, SAN, Former Attorney General, Lagos State; Dr. Nicholas Okafor, Co-Head, Udo Udoma & Bello-Osagie and Hon. Patrick Ikhariale, Member, National Assembly.

    The sessions on tourism, arts and culture will feature Mr. Folorunsho Folarin-Coker, Director General, Nigeria Tourism Development Corporation (NTDC); Senator Ben Murray-Bruce, Chairman, Silverbird Group

    Bolanle Austen-Peters of Terra Kulture; Victor Ehikhamenor, Artist and Mr. Theo Lawson, Creator, Freedom Park.

    The education and health sectors will have Dr. Hamid Bobboyi, Executive Secreatary of UBEC; Mrs. Magdalene Anene-Maidoh of UNESCO; Adesuwa Ifedi, Director, Policy and Partnership Africa at Bridge International Academies; Mrs. Nike De Souza, MD, PeoplePrime and PeopleTemp Ltd.; Mr. Obinnia Abajue, CEO, Hygea HMO; Dr. Ola Orekunrin, Founder, Flying Doctors Nigeria; Mr. Fisayo Okunsanya, Director, Medical Credit Fund; Dr. Olasimbo Davidson, CEO, Pinewood Medicare and  Mr. Sanjay Advani, CEO, Beta Healthcare

    Speaking after the inauguration of the Local Organising Committee on Wednesday by  Governor  Obaseki,  Professor Julius Ihonvbere, who is the Organising Committee Chairman, said the investment summit is an opportunity to market Edo State on the world stage, considering the profiles of the international companies that have indicated interest in the event.

    He said the sub-committee on Logistics has commenced work to ensure a hitch-free outing come November 10-12.

    On the choice of an investment summit to mark his one year anniversary as governor of the state, Obaseki said the summit would be used to evaluate the efforts his administration has made in governance and articulate aspirations in the various sectors of the state.

    He added that participants would include local and international business leaders, investors seeking new environments where governments are committed to providing incentives for businesses, policy makers, industry experts as well as the academia.

    “We are going to see how the active collaboration between the state and the private sector can produce a win-win-situation for both parties. The essence of our government is to serve as an enabler for businesses to thrive,’’ he said

  •  Edo investment summit to feature job fair, employability training

     Edo investment summit to feature job fair, employability training

    As part of initiatives leading to the maiden Alaghodaro investment summit and to fulfill its promise of 200,000 jobs for youths, the Edo State Government will hold the maiden Edo Jobs Summit from October 31 to November 8, featuring intensive five-day employability training and a job fair by top companies and investors in the state.

    The state government disclosed this in a statement at the Government House, Benin City, noting that the summit will be open for companies, who are interested in building their teams, or intends to recruit interns, to tap from the opportunity.

    Edo Jobs is an employment initiative of the state government to train and retrain graduates with post-secondary school certificates on business writing, workplace ethics, problem-solving skills, emotional intelligence, managing conflict, among others. It also gives them the opportunity for job placements in companies across the state.

    The government said that the Edo Jobs summit is open for companies within the state to tap from the pool of well-trained graduates, who are drawn from the Edo Job portal, noting, “The companies get a guarantee of graduates with the best skill-set because they would be trained by top experts in youth development and employability.”

    A major highlight of the job fair is the stakeholder engagement session, which holds on November 8, where the state governor, international agencies, educators and key employers, will engage in discourse around the theme: Creating A Sustainable Ecosystem For Youth Development. The outcome of the session is expected to unify strategies for long-term projects in Edo State with regards to youth employment.

    According to the statement, “In commemoration of the one-year in office of the Governor of Edo State, Mr. Godwin Obaseki, the state, through its employment initiative, Edo Jobs, will host a job training and recruitment programme for graduates and employment agencies in Edo State. After the training, there will be a Job fair and summit on November 8, where you can employ from the over 500 trained candidates as interns or full-time staff.”

    “Are you an employer of labour in search of qualified, trained and competent people to strengthen your workforce? Or are you a graduate with dreams of a great career? Before the job fair, candidates will undergo an intensive employability and soft skills training programme starting on October 31 to November 6, from 9am to 5pm at the Imaguero College Hall. The training will be carried out by experts in youth development and employability in Nigeria.”