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Nigeria Can Access Africa’s $12Trilion- by Obasanjo

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Eniola Olayemi

 

 

Former President Olusegun Obasanjo has listed what Nigeria should do to have access to $12 trillion “dormant funds”.

He said the Federal Government must endorse the Africa Continental Free Trade Area Agreement (AFCFTA) to tap into the funds earmarked for Africa’s development.

The former President spoke yesterday at a programme, tagged: “Conversation with Olusegun Obasanjo” and moderated by former British Broadcasting Corporation (BBC) broadcaster Mark Eddo at the Al Manara Conference Center, in Cairo, Egypt.

According to him, out of the $14 trillion that has been announced, only $2 trillion has been put to use, pointing out that $12 trillion “is sitting idle” waiting to be accessed.

Insisiting that Nigeria has no choice than to endorse the AfCFTA, the former President said: “The money is there; it is about how Africa can access that money. The amount of money needed is sitting somewhere dormant; it’s about $12 trillion. The money is dormant and it can only go to where it is needed. I was told that $14 trillion has been printed, about $2 trillion is generating interest and about $12 trillion is sitting idle.”

Obasanjo was responding to a statement that Egyptian President Al’ Sisi said that lack of funds was hindering Africa’s advancement.

He said: “You can imagine Africa getting $1trillion of that money every year. If our leaders can get that money routed to Africa, it will be quite useful and Africa will benefit from it.”

The former President praised the efforts of those who packaged the Intra-African Trade Fair, saying the success it has garnered should be shared by all and not him alone.

“The credit must not be given to me only. All the members, and particularly to former President Ekra, Professor Benedict Oramah and Afreximbank,” he said, adding that the lessons learnt will be useful in planning for the next fair.

Obasanjo said he took time to visit the exhibition stands, observing that Nigeria had a huge presence in the fair.

He said: “This is a one stop shop window for Africans to know what Africa has. Here you’ll not only see, you will feel, hear and even eat.

“I believe that we have started, we have put our hands in the plough and we will not go back, so we can say IATF is getting better and better. The issue of finance is not what worries me.”

Obasanjo expressed sadness that Nigeria was foot-dragging on the endorsement of the African Continental Free Trade Area Agreement IAfCFTA), wondering how Africa can’s economy can grow when countries like Nigeria were absent, pointing out that with, or without Nigeria, Africa will move on.

“It is a great pity for Nigeria and Africa that at the time Nigeria should be at the table, Nigeria is not there at AfCTFA, especially with the final negotiation which was led by Nigeria. At the point of signing, Nigeria developed cold feet. I just have to say, better late than never,” Obasanjo said.

He described as unfortunate that was yet to bad to endorse the treaty, pointing out, however, that “whether Nigeria is there or not, Africa will go on.”

He said he went through the pavilion, saying “Nigeria’s delegation was great,” wondering, “how can you be talking of African trade when you’re not there?

“You cannot absent yourself when the rest of Africa was there,” he stated.

Obasanjo, however, expressed optimism that whatever may have gone wrong, Nigeria would return and join itself with the rest of Africa.

“So what has gone wrong? I think understanding. I think the correct understanding will come. In all honesty, Nigeria will soon join this group,” Obasanjo said, stressing, “we have no choice.”

 

 

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Pernod Ricard’s CEO for Africa and Middle East Visits Nigeria, Reinforcing Market Commitment Amidst Dynamic Landscape

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Pernod Ricard’s CEO for Africa and Middle East Visits Nigeria, Reinforcing Market Commitment Amidst Dynamic Landscape

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Pernod Ricard, the world’s second-largest wine and spirits company, reaffirmed its dedication to Nigeria’s thriving market through a recent visit by Africa and Middle East CEO, Selcuk Tumay, accompanied by Chief Financial Officer Africa, Nevzat Akkiz, and Managing Director Africa, Sola Oke.

Pernod Ricard’s Africa and Middle East CEO, Selçuk Tümay (center), with Pernod Ricard Nigeria Management Team, MD, Pernod Ricard Africa and CFO, Pernod Ricard Africa and Middle East, Nevzat Akkız, during the recent visit of Selçuk Tümay to Pernod Ricard Nigeria.

The visit began with a business review at Pernod Ricard’s Lagos office, assessing regional performance and strategic planning.  A “Meet and Greet” session recognized local employees’ talents, fostering conviviality.

An immersion into the Nigeria’s vibrant retail landscape followed with an open market visit to Oke-Arin Market, guiding discussions on adapting marketing strategies. Retail partnerships were reinforced by visits to top stores, enhancing in-store experiences.  At night-time, On-trade visits showcased Pernod Ricard’s premium offerings.  The Key Distributors were not left out during the visits. These visits underscored collaborative relationships for a brighter future.

Selcuk Tumay stated, “Despite Nigeria’s complexities, especially foreign exchange volatility, we are optimistic. Adapting strategies will drive growth, support local partners and deliver exceptional consumer experiences.”

Exploring operational excellence: Pernod Ricard’s Africa and Middle East CEO, Selçuk Tümay, during a recent visit to Pernod Ricard Nigeria’s warehouse.

Building on success in Turkey and the Middle East, where innovative marketing and strategic partnerships fuelled double-digit growth, Pernod Ricard applies these learnings to Nigeria.

“We can leverage Turkey’s and the Middle East’s successes and best practices to navigate Nigeria’s challenges and unlock opportunities,” added Selcuk.

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SUNU Nigeria’s Free Mammogram/Breast cancer Screening Receives Positive FeedbackSUNU Nigeria

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SUNU Nigeria’s Free Mammogram/Breast cancer Screening Receives Positive FeedbackSUNU Nigeria –

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

SUNU Assurances Nigeria Plc, a leading insurance company and SUNU Health Nigeria Limited, a reputable health maintenance organization (HMO) in Nigeria, has received overwhelming positive feedback from beneficiaries of its recent free 3D mammogram-breast cancer screening initiative.

The program was launched to raise awareness about breast cancer and provide early detection services, was widely lauded by participants.As gathered, SUNU Nigeria remains committed to promoting preventive healthcare and empowering women.

Through the offering of free breast cancer screenings, the company aims to reduce the burden of breast cancer and improve the overall health and well-being of Nigerian women.

The initiative, which took place at DIAMED Centre, located at heart of Lekki, Lagos, attracted a large number of women from diverse backgrounds.

The screening process, which included mammograms and clinical breast examinations, was conducted by experienced medical professionals.Mrs Ajayi Funmilola, one of the 100 women who benefited from the screening exercise expressed her gratitude to the company.

“I’m so grateful to SUNU Nigeria for providing this free advanced mammogram screening. Of course, early detection is key, and this initiative has given me peace of mind.

Thank you for prioritizing women’s health”.Another beneficiary, Arogudade Feyisayo said, “The 3D mammogram screening offered by SUNU Nigeria was a game-changer.

It was a quick, painless, and thorough experience. I’m incredibly grateful for this opportunity to benefit from this initiative, I hope the company continue to be productive as they continue and increase the tempo in the future”.

“I’m incredibly happy to have had the opportunity to undergo a free 3D mammogram screening. It’s heartwarming to see a company like SUNU Nigeria prioritizing women’s health. May God continue to bless and prosper your organization,” commented Mrs. Olabisi Ajayi.

Commenting on the initiative, Mrs. Yusuf Japari, Head of Corporate Services at SUNU Assurances Nigeria Plc, highlighted the importance of corporate social responsibility, stating that the free mammogram screening is just one example of the company’s commitment to improving public health.

Mrs Yusuf stated, “At SUNU Nigeria, we believe in giving back to the community. By providing free 3D mammogram screenings, we’re not just offering healthcare; we’re empowering women to prioritize their health and well-being.

We are committed to continuing these initiatives to improve public health.”Dr. (Mrs.) Abiola Olorode, CEO of Diamed Centre stated that her facility is proud to partner with SUNU Nigeria to offer free breast cancer screenings during Breast Cancer Awareness Month. “By joining forces, we aim to promote early detection, educate women about breast cancer prevention, and ultimately save lives. We thank SUNU Nigeria for their commitment to improving public health and for sharing our vision of a healthier future.” SUNU Nigeria, encompassing SUNU Assurances and SUNU Health, is dedicated to improving as well as adding comfort to the lives of Nigerians.

SUNU Assurances offers reliable insurance coverage, while SUNU Health provides cost-effective healthcare solutions.

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Celebrate the Spirit of Christmas in Style This Season at Transcorp Hilton Abuja

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Celebrate the Spirit of Christmas in Style This Season at Transcorp Hilton Abuja

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

As December approaches, there is a buzz in the air, and people everywhere are starting to feel the magic of Christmas. Streets are filled with lights, homes are filled with vibrant decorations, and family plans for the holidays are well underway.

For those looking to truly immerse themselves in the festive spirit this year, Transcorp Hilton Abuja promises to be a holiday destination like no other, subtly transforming into a Christmas haven.

A Festive Transformation Like No Other

The Christmas season always brings with it a sense of warmth and celebration, and stepping into Transcorp Hilton Abuja this December will be like entering a world of Christmas magic. Visitors will be met with dazzling lights, shimmering ornaments, and beautifully crafted décor designed to spark joy and create a sense of wonder. The festive transformation at Transcorp Hilton Abuja is a nod to the holiday spirit, crafted to make guests feel like they’re part of something truly special.

Holiday Feasts with a Festive Twist

No Christmas experience is complete without a delicious spread, and Transcorp Hilton Abuja is ready to bring out the best of both traditional and contemporary festive flavours. This year’s holiday buffet will offer an array of treats, perfect for those who appreciate a hearty meal that captures the season’s spirit. The hotel’s talented chefs have worked tirelessly to prepare a Christmas dining experience that is both memorable and fitting for any holiday celebration.

Activities for Family & Friends to Enjoy Together

Christmas is a time for family, and the holiday lineup at Transcorp Hilton Abuja will include activities that bring everyone closer together. From cheerful carol singing to hands-on experiences like bead-making and festive games for kids, there’s something for everyone. With special appearances by Santa Claus, children can look forward to joyful surprises, making Transcorp Hilton Abuja a wonderful setting for families to make memories together.

Moments to Unwind in Holiday Comfort
For those looking to escape the holiday rush and unwind, Transcorp Hilton Abuja also offers spaces designed for pure relaxation. With accommodations overlooking Abuja’s skyline and a holiday-themed spa offering rejuvenating treatments, guests can relax and recharge before rejoining the celebrations. The tranquil atmosphere of the hotel provides the perfect balance to the holiday excitement.

Ring in the New Year with Elegance
As 2025 approaches, Transcorp Hilton Abuja invites everyone to ring in the new year in style with its New Year’s Eve Gala and New Year Countdown, making way for fresh starts and new memories.

Join the Celebration at Transcorp Hilton Abuja

This season, the warmth, joy, and traditions of Christmas come alive at Transcorp Hilton Abuja, a place ready to welcome all who wish to make this holiday season unforgettable. Whether you are looking for a festive family retreat, a romantic getaway, or a joyful celebration with friends, this is a destination crafted to capture the essence of Christmas.

This December, let the spirit of the season come alive—celebrate in the heart of Abuja, where every moment is filled with the magic of Christmax

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