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Lagos GDP Hits $136Bn

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Lagos State governor, Akinwunmi Ambode, has described the state as the fastest growing mega city in the world, just as he revealed that its Gross Domestic Product GDP has hit $136 billion.

He also said the state accounts for over 90 per cent of Nigeria’s foreign trade flow, which invariably contributes 30 per cent to the country’s GDP and also accounts for 65 per cent of its manufacturing activity.

The governor who spoke through his Special Adviser on Overseas Affairs and Investment , Professor Ademola Abass, in Alausa, Ikeja, yesterday added that it attracted over  293  investors in a year.

Even with economic recession, he said, government had attracted more foreign direct investments in the first two years of the present administration than it did in the past 15 years.

His words:” Lagos, as the economic capital of Nigeria and the West African sub region with a 136 billion USD GDP, accounts for over 90 per cent of Nigeria’s foreign trade flow, contributes 30 per cent to the country’s GDP and also accounts for 65 per cent of its manufacturing activity”.

“It is our desire to see a prosperous Lagos that we will all be proud of, in terms of investment, open for business for the benefit of all.”

Since inception, Office of Overseas, Affairs and Investment has encouraged investor’s confidence in Lagos, as a place to conduct business and live in, he said.

Meanwhile the state has raked in N20.774 billion on land related transactions in the past one year. This is against the 2015 revenue of N9.2 billion.

The Special Adviser (Urban Development), Mrs. Yetunde Onabule, made the disclosure in Alausa, Ikeja.

She also revealed that a total sum of N2, 022 billion was paid as compensation to individuals and groups whose lands and property were acquired for  overriding public interest.

The beneficiaries of the compensation according to her include, the  Abule Egba Link Bridge, Oko Baba Sawmill, Isale Igangan Regeneration Project, Olorunsogo Market (Shops), Epe Road Expansion and Mosafejo Community/Olorunsogo Ultra-Modern Market.

The governor’s aide also said that since the inception of the Governor Akinwunmi Ambode-led administration, a total of 4, 445 Electronic Certificate of Occupancy (E-C of O) had been signed by the governor.


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FG Regrets Begging Musk, U.S. Billionaire for Ventilators

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Federal Ministry of Finance, Budget and National Planning has deleted a tweet in which it pleaded with Elon Musk, American billionaire, for ventilators to treat the COVID-19 pandemic.

FG Regrets Begging Musk, U.S. Billionaire for Ventilators

Mr. Yunusa Abdullahi, special adviser on Media and Communications to the minister, said in a statement that the tweet was not done with the permission of the minister.

The statement read; “An unauthorised post was made on the verified Twitter handle of the Federal Ministry of Finance, Budget and National Planning. The fact of the post is regrettable because of which it is brought down.

“We have made sure our internal processes are strengthened that such doesn’t happen again. The error is highly regrettable.”

However, Mr. Bashir Ahmad, President’s Personal Assistant on New Media, who also appealed to Musk for assistance, refused to delete his tweet and even re-tweeted similar pleas.

Buhari’s aide tweeted, “Hello Elon, I woke up to this your tweet all over the timeline, in this period of worldwide emergency getting ventilators is pretty hard no matter how much money you get, and that’s understandable! Nigeria, my dear country is in need. Kindly send 100s here, we really need them, thanks!”


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COVID – 19: TGI Group Donates Food Items to Lagos Food Bank

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Tropical General Investments Group has donated food items including rice, soya oil and seasoning cubes, as part of its efforts to support the Lagos state government in the fight against the COVID-19 pandemic.

At the presentation, TGI Group provided 200 bags of 50kg Big Bull Rice produced by its subsidiary – WACOT Rice Limited in Argungu, Kebbi State, 2500 cartons of Golden Terra Oil and 3000 cartons of Terra Seasoning Cubes, produced by subsidiaries West African Soy Industries Limited (WASIL) and West African Cubes Limited (WACUB), both located in Sagamu.

Corporate Communications Manager, TGI Group, Rafiat Raji, in her address during the presentation of items, stated “in view of the stay-at-home directive, it is clear that many Lagosians are facing one level of hardship or the other.

“Therefore, we understand that it is a collective responsibility to provide support for the less privileged among us, hence our contribution to the Lagos State food bank which will provide succour to at least 20,000 families”.

Mr. Gbolahan Lawal, Commissioner for Agriculture – Lagos State, who received the items alongside the Special Adviser to the Lagos State Governor on Agriculture, Abisola Olusanya, on behalf of the state government noted that the donation was a welcome development.

He commended the efforts of TGI Group in its timely response to partner with the state government in its intervention to provide food for two hundred thousand households across three hundred and seventy-seven wards to cater for the most vulnerable and indigent within the state in this period.

“This will also add to what we have in mind in terms if supporting our people. Our target is to reach 200,000 homes across Lagos, and distribution is already ongoing in multiple locations” Lawal said.

The group reassured the state Government of their commitment to keep supporting the state and country on all fronts in order to flatten the curve of the Corona Virus pandemic.

Tropical General Investments (TGI) Group is an international investment and holding company with diversified interests. Its corporate identity is based on respect for people, its communities and the natural environment as it continuously seeks to support its communities during and beyond challenging times.


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LASEPA Recants, Unseals Jumia Warehouse

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The Lagos State Environmental Protection Agency (LASEPA) has reopened Jumia’s warehouse located at Surulere industrial road, off Allen, Ikeja.

It would be called that on Wednesday agents from LASEPA sealed off Jumia warehouse and other offices for contravening the lockdown order by the Federal government.

But in what seems like a change of mind, the agency on Thursday reopened the warehouse, citing that the online marketing store has been classified as an ‘Essential supplier’ in the fight to contain the novel coronavirus.

Putting up the update on its Twitter handle @LasepaInfo, the agency said the warehouse was opened “having established that Jumia can be classified as an ‘Essential supplier’ as contained in the Infectious Disease Regulation signed by the Executive Governor of Lagos State, Mr. Babajide Sanwo-Olu on the 27th March 2020.”

The initial sealing of the popular online retail store had elicited condemnation from social media users, who lamented why the Jumia outlet should be closed down at a time Lagos residents have been asked to stay at home to stop the spread of the coronavirus pandemic.

Since the outbreak of COVID-19 pandemic, Jumia Nigeria has demonstrated responsible corporate citizenship.

The company recently announced its partnership with Lagos State Government on #MyHandsAreSafe campaign, as an information tool to curb further spread of COVID-19.

They also announced the implementation of Contactless Delivery as safety measure for customers to further enhance social distancing measures.

In response to the pandemic, Jumia announced a partnership deal with Reckitt Benckiser to enable customers have access to hygiene products at affordable prices during the lockdown.

 

 

 

 


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