Gov. Akinwunmi Ambode of Lagos State on Sunday said his administration had performed well.
NAN reports that the outgoing Lagos helmsman spoke at the pre-launch of a $50 million manufacturing plant in the Lekki Free Zone, belonging to Longrich, a Chinese firm.
He said that the facility was another success story of the efforts of the government in attracting investment and an eloquent confirmation of the strategic importance of the free trade zone to the state’s economy.
Ambode noted that no less than 25 companies had set up their manufacturing plants within the zone, saying that it was indeed gratifying that the efforts to drive investments were yielding positive results.
Ambode said that the most important thing to him was that whether in government or outside of government, factories were springing up in the zone, thereby creating job opportunities for the people and improving the economy of the state.
According to the Governor, one of the most fulfilling feelings in life was to see one’s efforts yielding positive results.
Ambode said: ”It gives me immense satisfaction to be here today to witness this pre-launch of Longrich Nigeria Manufacturing Plant to be located in the Lekki Free Zone in Lagos State, Nigeria.
”At the inception of this administration, one of our core focus areas was attracting investments to our state; to create employment opportunities for our people and wealth for our investors.
”Today’s event is one of those crowning moments that confirm that our efforts have been rewarded.”
He commended Longrich Group of Companies for the decision to site the $50million factory in Lagos of all the cities and countries in Africa, saying the state and the country stand to benefit immensely from the investment.
”I have been informed that this Lekki Longrich facility, upon completion, will not only be the hub for the distribution of the products to the African sub-region but will provide employment for at least 1,000 new workers in our state.
”It will boost the nation’s foreign exchange earnings from exportation of manufactured products to other African countries.
”If we go by the success story of Longrich in China and the company’s track record, there is no doubt that Longrich Nigeria will be modelled after the world class LONGLIQI Bio-Industrial Park in China which covers an area of more than 133 hectares and serves as location of LONGLIQI Bio-Science Co., Ltd,” Ambode said.
While describing the firm as a global brand with a range of top class quality products and unique business model, the governor lauded the fact that Longrich had created wealth for over 500,000 people.
These people, he added, were trading in more than 30 brands of the company, with the majority of the traders residing in the state.
Ambode assured the people that the state government would continue to play its role as business enablers, especially by providing the necessary infrastructure and services required to support all investors and businesses who decide to make Lagos their home.
”Our administration has embarked on massive and ambitious projects. We have introduced public sector reforms and policies aimed at making it easier to do business in our state.
”Our governmental institutions like the Ministry of Commerce, Industry and Cooperatives, Office of Public Private Partnership and Office of Overseas Affairs and Investment are more than ever before, in the fore front of providing an enabling business environment for local and foreign investments to thrive.
These are just a few indicators to assure you of our commitment to securing not just Longrich’s investment in the South-West quadrant of Lekki Free Zone but to secure and attract more investments to our state,” he said.
FirstBank’s Ibukun Awosika Becomes President of IWEC Foundation’s Board of Directors
The International Women’s Entrepreneurial Challenge Foundation (IWEC) has announced the appointment of Chairman of First Bank of Nigeria Limited, Mrs. Ibukun Awosika as the new President of their Board of Directors. FirstBank is Nigeria’s Premier and Leading financial services provider.
Mrs. Awosika was elected to replace Miguel Valls, former President of the Barcelona Chamber of Commerce and president of the IWEC Foundation, who passed away last month. “The Foundation is very excited to announce the appointment of our new president,” stated Ruth A. Davis, IWEC Chairwoman and distinguished former U.S. Ambassador. “Ibukun Awosika has been a solid, steady presence at IWEC since its inception, and she is also a past IWEC awardee. Ibukun has not missed one IWEC Conference since 2008 and has lent her voice and experience not only to our conferences, but to our meetings after joining our Board in 2017. We are delighted that our Board of Directors voted on her appointment, and we’ll introduce her as our president at our upcoming 12th Annual IWEC Foundation Conference in New Delhi, on November 10th.”
The Foundation’s 2019 Conference will focus on “Connecting Women Businesses Globally: Leading the Way to Innovation and Integration”. The event would be hosted locally by the FICCI Ladies Organization (FLO) of the Federation of Indian Chambers of Commerce & Industry (FICCI), which represents over 5000 women entrepreneurs and professionals across India. This year, IWEC welcomes 39 awardees from 18 countries, with a combined revenue of over US$5.7 billion among all awardees to date.
IWEC Foundation Vice Chair, Carmen Castillo, CEO of SDI International, adds: “Ibukun has demonstrated a significant commitment to IWEC over the years. Her breadth of knowledge extends from being an entrepreneur running SOKOA Chair Centre Limited, to overseeing the board of directors for the renowned First Bank of Nigeria Limited. We are looking forward to her wise counsel and to continuously drive IWEC globally as a source of support, connection and impact for women business owners all over the world.”
Ibukun Awosika heads Nigeria’s premier bank, and she is also the founder and CEO of the Chair Centre Group, an association of large companies in the manufacturing, retail, and financial security services. Mrs. Awosika further holds seats in the corporate boards of Cadbury Nigeria, Digital Jewel Limited and the Convention on Business Integrity, and she is a former chair of several other enterprise boards.
Ibukun is a graduate of Chemistry from University of Ife (now Obafemi Awolowo University), Nigeria, an alumna of the Chief Executive Program of Lagos Business School, the Global Executive MBA of IESE Business School, Wharton’s Global CEO Program, and the IESE and China European International Business School (CEIBS). Ibukun is a multiple award-winning entrepreneur and the first Nigerian recipient of the prestigious International Women Entrepreneurial Challenge (IWEC) Award as a nominee of the US Department of State in 2008. Ibukun is also a best-selling author and motivational speaker.
Ibukun was just honoured last month with the International Friendship Award presented at the IESE Business School by the Queen of Spain.
About the IWEC Foundation
IWEC is a New York-based international economic empowerment organization exclusively for women business owners, formed in 2007 with the assistance of the U.S. Department of State. In addition to the State Department, its founders include the Barcelona Chamber of Commerce, Manhattan Chamber of Commerce (MCC), FICCI/FLO Chamber in New Delhi. IWEC’s mission is to develop a global business network for successful women entrepreneurs, helping them gain and expand access to international markets by presenting a platform to exchange knowledge, experience and connections, and to promote dialogue among women entrepreneurs and business leaders throughout the world.
FBNHoldings, FBNBank Ghana Visit Ghana President, Akufo-Addo in Accra
The Group Board Chairman, FBN Holdings Plc, Dr. Oba Otudeko CFR in company of Directors of FBN Holdings, FirstBank of Nigeria Limited and FBNBank Ghana Limited, have paid a courtesy call on the President of the Republic of Ghana, Nana Addo Dankwa-Akufo-Addo in Accra.
The visit was to appreciate the President for participating in First Bank of Nigeria Limited’s 125th anniversary activities held earlier this year as well as update him of recent investment activities of the Group.
In his speech, Dr. Otudeko assured President Akufo-Addo of FBNHoldings’ belief in the Ghanaian economy and indicated that it was evidenced by the recapitalization of FBNBank Ghana by its parent bank, First Bank of Nigeria Limited. He pointed out that the Group’s investment of US$100 million was well above the new minimum capital requirement set by the Bank of Ghana into its Ghana operation.
Otudeko added that the bank’s confidence in the Ghanaian economy and the talent of Ghanaians had resulted in the appointment of Victor Yaw Asante as the first Ghanaian Managing Director of FBNBank Ghana Limited.
Dr. Otudeko lauded the President of Ghana for giving the youth opportunities to serve in his government, saying it will prepare them to take over the leadership of Ghana in the near future. He congratulated the President on the choice of Ghana as host of the Africa Continental Free Trade Agreement, saying that it must have taken significant effort to bring this to Ghana.
President Nana Addo Dankwa Akufo-Addo thanked Dr. Otudeko for his kind words and recounted the crucial bilateral and economic ties as well as historic bond, pre and post-independence, that exist between Ghana and Nigeria.
While stating that it is important for the economies of both Ghana and Nigeria to do well for ECOWAS to succeed, the President thanked FBN Holdings Plc for investing in Ghana and gave the assurance that government will provide the necessary support to FBNBank Ghana Limited and the entire business community.
The President also touched on the banking sector reforms and observed that Nigeria also had to embark on a similar exercise in the recent past. He said it was a painful but necessary exercise to strengthen the financial services industry and position it to support business and the economy.
President Akufo-Addo emphasized the importance of providing opportunities to the youth to enable them support the nation’s growth and development agenda and the need for all citizens of the two countries to find avenues to give back to their nations.
Members of the delegation pledged, on behalf of FBN Holdings Plc and FBNBank Ghana, their commitment to helping build a stronger Ghanaian economy, as well as forging stronger economic ties between citizens and businesses of Ghana and Nigeria.
The FBNHoldings Group Board Chairman, Dr. Oba Otudeko, CFR, was accompanied by Mrs. Ibukun Awosika, Chairman, Board of Directors, First Bank of Nigeria Limited; Mr. U. K. Eke, MFR, Group Managing Director, FBN Holdings Plc.; Dr. Adesola Adeduntan, Chief Executive Officer, First Bank of Nigeria Limited; Otunba (Mrs.) Debola Osibogun, Non-Executive Director, FBNHoldings; Dr. Hamza Wuro Bokki, Non-Executive Director, FBNHoldings, and Mr. Victor Yaw Asante, Managing Director, FBNBank Ghana Limited.
FBN Holdings Plc is the most diversified financial services group in Nigeria and includes FirstBank of Nigeria Ltd the mother company of FBNBank Ghana and other subsidiaries around the world.
FirstBank as Synonym for Growth of SMEs in Nigeria
By Eric Elezuo
It is not by accident that banks need to be at the heart of the SME business, providing support, capital and innovative solutions to help small businesses prosper. It is also not accidental that most countries can boast of some quality banks that hold sway the prosperity of small and medium enterprises. In Nigeria, that bank is FirstBank Nigeria Plc, unarguably the best bank in the country going by its very many firsts, awards, honours and initiatives.