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Int’l CEOs Economic Summit to host Biz lunch for Captains of industry in Istabul, Turkey 2022.

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Int'l CEOs Economic Summit to host Biz lunch for Captains of industry in Istabul
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International CEOs Economic Summit (ICES) to Host Business Lunch for Industry Leaders In Istanbul, Turkey 2022.

The International CEO Forum (ICF), a global resource network and its international partners, today announces the 3rd edition of its International CEO’s Economic Summit (ICES), an annual global business platform for CEOs, policymakers, business executives, private investors, Heads of Government Organizations and industry experts.

In a brief chat with Journalists in abuja, the International Coordinator, Charles Nicholas C said – the 2022 cohort, ICES Business Lunches have been slated to be held in Turkey from February 10th to February 11th and other BLs in Morocco, Lagos and London on dates that will be later disclosed.

A major summit marking the last cohort for 2022 will be held in Paris in the month of July. The ICES Business Lunch is a strategic networking opportunity to build up investment, sustainable partnerships and focused sector discussions interest in preparation for the International summit in Paris.

With a streak of successful ICES Business Summit in 2019 (ICES-Brussels) and the Business Lunch in 2020 (Dubai; Abuja), boasting an attendance of more than 600 participants representing over 55 countries, with top government representatives and investment groups, a number of partnerships and investment deals have been engineered through the networking the ICES Business Summit foster.

The 2022 ICES Business Lunches and Summit will focus on the following sectors of the economy: Digital Economy, Creative Economy, Food, Hospitality & Tourism, Real Estate, Investment interest and other business interests relating to FDIs and infrastructural development investment.

The events, like the previously held ICES events, will attempt to proffer solutions to new policy issues, with calls for action that will spur trade and investment.
It is the design of ICES and its strategic partners in Dubai, Morocco, UK and Turkey that these Business Lunch impact on the economy of the participating countries.

Speaking on the 2019 summit in Brussels, Parminder Vir OBE, a former CEO at Tony Elumelu Foundation and one of the Women in Business attendees, said “The International CEO’s Economic Summit (ICES) brought together thought leaders and executives to reflect on the opportunities, challenges and solutions for the economic development of Africa through international collaborations and partnerships. It was a privilege to be among so many inspiring international speakers, sharing solutions to business challenges, learning from the specialist sector experts, and building networks gathered for the ICES in Brussels.”

The ICES is an annual world-class platform designed, under the ICF and its partners, to create international trade and investment, promoting business partnerships among CEOs and business executives from across the globe

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Business & Economy

Tinubu To Present 2024 Supplementary Budget To NASS

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President Bola Tinubu Presenting 2024 Budget Proposal to the Joint Session of National Assembly
President Bola Tinubu Presenting 2024 Budget Proposal to the Joint Session of National Assembly
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President Bola Tinubu will soon present the 2024 Supplementary Budget to the National Assembly (NASS).

“I submitted the last budget to you,” the President said when he addressed a joint sitting of the National Assembly on Wednesday.

“You expeditiously passed it. We are walking the talk. I will soon bring the Year 2024 (Supplementary) Appropriation Bill. That is just for your information,” the President said in his terse speech at the joint sitting to mark the Silver Jubilee Of Nigeria’s 4th Republic.

In his response, Senate President Godswill Akpabio, said, “Thank you, Mr President, we will be expecting the Supplementary Appropriation Bill of 2024 as soon as possible.”

Also, at the joint sitting which coincided with the first anniversary of the Tinubu administration, the President confirmed ‘Nigeria, we hail thee’ as the “latest national anthem”.

Tinubu said, “You sang out the latest national anthem, ‘Nigeria, we hail thee’. This is our diversity, representing all characters and how we blend to be brothers and sisters.”

The President pleaded with both the Senate and the House of Representatives to continue to collaborate and work together with the administration to build the country on the path of sustained progress and development.

“We have no other choice; it is our nation. No other institution or personality will help us unless we do it ourselves. No amount of aid from foreign countries or any other nation (will fix us), they take care of themselves first. Let us work together as we are doing to build our nation, not only for us but for generations unborn,” he said.

 

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We Have No Magic Wand, Tackling Inflation Will Take Time — Cardoso

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Yemi Cardoso,CBN Governor
Yemi Cardoso,CBN Governor
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The Governor of Central Bank of Nigeria, Mr. Olayemi Cardoso has urged the citizens to be patient over the fight against current inflation and hike in food items in the country.

Cardoso disclosed this while briefing journalists at the end of the Monetary Policy Committee, MPC, meeting in Abuja.

The CBN governor mentioned that there was no magic needed to solve inflation in Nigeria but rather patience.

Also, Cardoso noted that despite pressure from food inflation, the general inflation rate was “moderating”, pointing out that “the tools the Central Bank is using are working”.

He stated, “I have several times and I will say again, there is no magic wand. These are things that need to take their time.

“I am pleased and confident that we are beginning to get some relief and in another couple of months we will see the more positive outcomes from the Central Bank have been doing.”

He added, “The committee thus reiterated several challenges confronting the effective moderation of food inflation to include rising costs of transportation of farm produce, infrastructure- related constraints along the line of distribution network, security challenges in some food producing areas, and exchange rate pass-through to domestic prices for imported food items.

“The MPC urged that more be done to address the security of farming communities to guarantee improved food production in these areas.

“Members further observed the recent volatility in the foreign exchange market, attributing this to seasonal demand, a reflection of the interplay between demand and supply in a freely functioning market system.”

The Central Bank of Nigeria has also blamed the recent volatility of the country’s foreign exchange market on seasonal demand for dollars.

“Members further observed the recent volatility in the foreign exchange market, attributing this to seasonal demand, a reflection of the interplay between demand and supply in a freely functioning market system,” a communique issued by the committee on Tuesday stated.

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Port Harcourt Refinery Begins Full Operations Next Month

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Port Harcourt Refinery
Port Harcourt Refinery
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The 210,000-barrel-per-day Port Harcourt refinery is expected to commence operations by the end of July, following multiple delays.

National Public Relations Officer of the Independent Marketers Association of Nigeria, Chief Ukadike Chinedu, revealed this new timeline on Monday. He noted that the refinery’s operation would boost economic activities, reduce petroleum product prices, and ensure an adequate supply.

In December last year, Minister of State for Petroleum Resources, Heineken Lokpobiri, announced the mechanical completion and flare start-off of the Port Harcourt refinery, the largest in the region.

The refinery consists of two units: an older plant with a 60,000-barrel-per-day capacity and a newer plant with a 150,000-barrel-per-day capacity. The refinery was shut down in March 2019 for the first phase of repairs after the government enlisted Italy’s Maire Tecnimont as a technical adviser and appointed oil major Eni as a technical adviser.

On March 15, 2024, NNPC Limited’s Group Chief Executive Officer, Mele Kyari, announced that the Port Harcourt refinery would begin operations in about two weeks. He made this statement during a press briefing following his appearance before the Senate Ad hoc committee investigating the various turnaround maintenance projects of the country’s refineries.

“We achieved mechanical completion in December,” Kyari stated. “We now have crude oil stocked in the refinery and are conducting regulatory compliance tests. The Port Harcourt refinery will start within two weeks.”

However, two months later, the refinery had yet to commence operations.

In an interview, IPMAN’s Ukadike emphasized that the work done on the refinery represented a complete overhaul rather than mere rehabilitation. He assured that every effort was being made to meet the July deadline.

Ukadike said, “When we visited, the MD informed us that the refinery was nearly ready and would start production by the end of July. The overhaul is extensive, with all the armoured cables replaced and everything almost brand new. The maintenance turnaround is massive, with work being done day and night. All hands are on deck to meet the target. By the end of July, the refinery should be operational.”

When asked about the government’s previous unfulfilled promises to restart the refinery, Ukadike acknowledged the delays but noted that no reasons were given for missing the last deadline in April

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