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Nigeria to Get Major Economic Boost from TABEF – Okpe



  • Nigeria to Get Major Economic Boost from TABEF

Businesses in different sectors of the economy are about to enjoy a major boost as Turkey promised more investment in Africa. The promise was made at the just concluded Turkey –Africa Business Economic Forum, TABEF 2016 in Instabul. This is in line with the country’s resolve to create an enabling environment for future collaborations.

Speaking at the event, the Turkish President, Recep Tayyip Erdogan, said Turkey will in the coming days focus on helping many businesses in Africa with a view to promoting “closer cooperation with our regional allies, develop solutions to shared challenges and explore mutually beneficial opportunities…We share a common fate. We consider the priority of the African continent as our priority. There is a nice African proverb that says one day’s rain cannot get deep into the soil. We would like to remain friends forever.”

The event which was attended by major stakeholders in the Nigerian economy ranging from construction, energy, food and healthcare promised a massive turn around that will boost trade in Africa.

Emphasising on the benefits of the forum to Nigeria’s economy, Dr. Nneka Ebru Okpe, Co-founder and Lead Consultant at IntraSolutions Consultancy; one the major facilitators of the Nigerian-Turkey business partnership, said that events like this and the last economic forum on business collaboration between Turkey and Abia state government in Abuja should be encouraged as to increase foreign direct investment in the country.

According to her, “Turkey is ready to do business in Africa and we can already see this by the country’s willingness to expand the scope. Many opportunities are opened to both government and private sector businesses to thrive under this relationship”

Erdogan promised to establish an embassy in every country of the African continent. The President also said that Turkey’s foreign direct investments in the continent have reached $3.9 billion while the trade volume between Turkey and the continent increased to $17.5 billion in 2015 from $7 billion in 2005.”

Dr. Okpe said “ All these are pointers that in the next few years, recession or not, Nigeria will experience a tremendous investment partnership in the area of hospitality, agriculture, energy and manufacturing amongst others” By the involvement of IntraSolutions, Abia state has already started to enjoy the benefit of the relationship in the area of shoe and garment making; even before TABEF held. One thing that they are sure about is that the relationship will spread across the country with many state governments and private sector investors benefiting a great deal.

Also present was Mr. Pierre Edde ( Eko Atlantic city ) who made a pitch for investors on the benefits of investing in Eko Atlantic City. Edde lamented the total neglect of mortgage scheme by government.

Expatiating on the immense benefit available to the government in making housing available for its citizenry, the Eko Atlantic City boss said “the Nigerian mortgage system is at an alarmingly low level at just 0.05% of the country’s GDP. Banks alongside the government will need to revamp the mortgage system to afford individuals the ability to purchase homes, especially in face of the current economic recession in the country,”

On ways to boost the real estate sector in the country Edde stated that government and financial institutions should work together towards improving the mortgage system, as it is critical to the growth of the sector. This, he emphasised, is the only way the sector can be able to really improve on its contribution to the nation’s GDP.

The Turkish Cooperation and Coordination Agency, or TIKA, remains active across the continent and implements hundreds of humanitarian and development projects to provide better healthcare, promote agriculture, protect the environment and facilitate commerce.

The forum, jointly organized by the Turkish Ministry of Economy, the African Union Commission, the Foreign Economic Relations Board (DEIK) and the Turkish Exporters Assembly (TIM), aims to provide a platform for the business circles of Turkey and African countries to create a long-lasting cooperation, according to the forum’s official webpage.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade experience in the global financial markets.


Transcorp Hotels Expand into Marketplace, Launches Aura to Connect People, Hoteliers, Others



Transcorp hotel

Transcorp Hotels Plc, on Thursday, announced it has launched a new digital platform, Aura, through which people can book accommodation, restaurants and experiences.

Aura, Transcorp’s first in the alternative accommodation segment, is part of the company’s asset-light model, leveraging technology to deliver true hospitality, exciting experiences, and drive shareholder value.

It’s a new dawn in the hospitality industry! I am thrilled to introduce you to Aura by Transcorp, the digital platform we are using to connect people to quality accommodation, great food, and awesome experiences,” Managing Director and Chief Executive Officer of Transcorp Hotels Plc. Dupe Olusola said.

For more than 30 years, Transcorp Hotels Plc has been at the forefront of creating a superior guest experience at our locations. Today, our commitment to innovation has offered us an opportunity to extend this beyond the hotel premises,” Olusola added.

The launch of Aura by Transcorp is one of the most significant developments in the company’s history as it seeks to transform the travel and tourism industry in Africa by focusing on three important components of travel, whether for leisure or business — where you stay, what you eat and how you spend your time. With its people-driven hospitality model, Aura is set to revolutionise travel and help remind Africans of our deep history of hospitality.

Speaking on the launch of Aura, Obong Idiong, Chief Executive Officer at Africa Prudential Plc, Aura’s technology partners, expressed his excitement. “Finding the right accommodation when you travel can be incredibly complex. Options available for the right prices are often limited, and travellers sometimes end up with accommodation that taints the travel experience. Transcorp Hotels Plc has been able to fix that with Aura and we are proud to be associated with them.”

To ensure topnotch user experience, we built a solution to drive digital transformation through the adoption of shared living spaces for the Aura business. With an advanced search algorithm powered by artificial intelligence, Aura determines the relevance of locations taking into consideration, the customers’ preferences and requirements to meet them at the point of their needs,” Idiong added.

Priscilla Adeboye, a travel enthusiast and early adopter of Aura, said the global pandemic has pushed international travel down her list. “But I still want to be able to take some time off work or spend a weekend away from home with the family. I have found incredible homes on Aura that meet my need for space and privacy.


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Siemens Energy Nigeria Appoints Seun Suleiman as Managing Director




Seun Suleiman is the New Managing Director of Siemens Energy Nigeria

Mr. Seun Suleiman is the new managing director of Siemens Energy Nigeria, the company announced on Wednesday.

According to the statement released by the energy company, Suleiman will be responsible for the entire management of operations and decisions on business policies and corporate strategy.

Commenting on his appointment, Suleiman said, “It is an absolute honor to lead the business for Siemens Energy Nigeria and I look forward to delivering on the brand’s promise of excellence.

Suleiman joined Siemens Energy in 2014, bringing over 15 years’ experience and deep expertise in the private sector across Europe and West Africa.

The statement said, “He is an accomplished business strategist and success-driven leader with strong business acumen. Suleiman has also been a core member of the executive management team at Siemens Energy serving in roles as Sales Director West Africa – Service Distributed Generation Oil & Gas and Vice President Service & Digital.

“Prior to this, he also held various functional and managerial positions with ABB Ltd UK, ABBNG Nigeria, Schneider Electric Nigeria and Dresser-Rand Nigeria Ltd.

It added that Suleiman was experienced in establishing operational excellence with specific competence in the power, oil and gas sectors.

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FG Reopens Osubi Airport Warri for Daylight Operations




FG Reopens Osubi Airport Warri for Daylight Operations

The Federal Government on Monday said the Osubi Airport in Warri has been reopened for daylight operations.

The Minister of Aviation, Hadi Siriki, disclosed this in a tweet.

The airport was closed in February 2020 over mismanagement and debt allegation involving aviation service providers and airport management.

However, Oberuakpefe Afe, a lawmaker representing Okpe/Sapeie/vaie federal constituency, recently moved a motion for the Federal Government through the ministry of aviation and relevant authorities to reopen the airport for flight operations.

On Monday, Hadi Siriki said “I have just approved the reopening of Osubi Airport Warri, for daylight operations in VFR conditions, subject to all procedures, practices and protocols, including COVID-19, strictly being observed. There will not be need for local approvals henceforth.

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