Connect with us


LCCI Recommends Tollgates on Interstate Roads, Others



  • LCCI Recommends Tollgates on Interstate Roads, Others

The Lagos Chamber of Commerce and Industry has recommended, among other things, that tolling be introduced on interstate roads that have been completed to ensure sustainable financing for road maintenance.

The President, LCCI, Mr Paul Ruwase, made this recommendation on Tuesday in Lagos while setting agenda for President Muhammadu Buhari’s second term in office.

He said, “Government should also introduce tolling on interstate roads that have been completed to ensure sustainable financing for maintenance of roads.

“To complement quality maintenance of our roads, it is imperative to introduce proper axle control and enforcement of use of weigh bridges on major roads across the country.”

Ruwase recommended the passage of the National Roads Fund bill saying that its enactment would give legal backing to the proposed National Road Fund, a repository for revenues accruing from road-user -charging systems and any other source for the purpose of financing maintenance and upkeep of Nigeria’s road infrastructure.

On access and cost of credit for the Micro Small and Medium Enterprises, Ruwase said although the MSME sector contributed about 90 per cent to the business activities in Nigeria, operators in the sector lacked sufficient access to capital.

He said, “We need to encourage commercial banks to increase lending to the SMEs sector, but this can only be achieved if there is an effective credit guarantee scheme to de-risk lending to the sector. Credit guarantee schemes for MSME will promote lending and provide guarantee of loan repayment.”

Among the issues the chamber also advised the government to urgently address was the disparity between the Gross Domestic Product and population growth, the need to get more private sector’s involvement in policy making, the need to reduce recurrent expenditure in order to accommodate capital expenditure and to adopt Public Private Partnership model in financing of public sector projects.

Others were economic integration with particular reference to the African Continental Free Trade Area and the need to ensure effective enforcement of the rules of origin to protect vulnerable sectors of the economy.

The chamber also discussed visa policy, saying that nationals of selected advanced economies should be granted a minimum of 30 days visa free entry into Nigeria as practiced by many emerging economies.

On the Presidential Enabling Business Environment Council, the LCCI suggested that the Council be strengthened and the scope of its activities broadened to cover all sectors of the economy and all agencies of the government that interfaced with the private sector.

“We believe that the economy will be positively impacted if this is done,” Ruwase said.

He expressed concerns about the activities of the Nigeria Customs Service saying that the Service had created uncertainties and bottlenecks in the international trade process and did not subscribe to the ease of doing business policy of the Federal Government.

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.

Continue Reading


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.


Continue Reading


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.

Continue Reading


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.

Continue Reading