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Lagos Chamber Of Commerce Responds To President Tinubu’s Address To The Nation

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Tinubu Reaffirms Nigeria's Readiness To Play Vital Role Within G-20

 

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Lagos Chamber Of Commerce Responds To President Tinubu’s Address To The Nation

 

 

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THE LAGOS CHAMBER OF COMMERCE AND INDUSTRY
STATEMENT ON PRESIDENT BOLA AHMED TINUBU’S ADDRESS ON THE STATE OF THE NATION ON 31 JULY 2023, BY ASIWAJU (DR.) MICHAEL OLAWALE-COLE, CON, MFR, FNIM, CNIM, FIoD

 

 

Lagos Chamber Of Commerce Responds To President Tinubu's Address To The Nation

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The Lagos Chamber of Commerce and Industry (LCCI) wishes to commend President Bola Tinubu on his second State of the Nation address as the country grapples with the short-term economic hardship resulting from subsidy removal and exchange rate harmonization. The President’s address showed leadership, responsibility, and accountability, and he demonstrated empathy as he unveiled a broad plan to ease the cost of living pains for Nigerians. He also provided clarity on the palliative measures and strategies for implementation.

 

 

 

LCCI also commends the President on the palliative plan to support businesses, the working class, and the most vulnerable, as well as a policy intervention to check rising inflation and ensure exchange rate stability. The President covered most of the strategic sectors of the economy, but nothing was said about security, which is a critical factor in national development.
The President described the plan to spend the 500 billion naira ($652 million) package to boost the economy by easing transportation costs, boosting manufacturing, and enhancing food supply. It will also provide conditional grants to at least a million small businesses. To ensure affordable food prices, it is good that strategic reserves of grains will be released to households, and support for agriculture, including farmland cultivation, will be a priority.

 

 

 

 

These plans demonstrate that the President is listening to Nigerians. The Chamber supports the move to invest in the manufacturing sector. However, it would be pertinent to consider more enterprises as 75 enterprises would not significantly impact the economy. However, we commend the effort to kick-start sustainable economic growth and improve productivity. We believe that if this plan is rigorously pursued, economic growth through the real sector of the economy would be achieved and could revive Nigeria’s sluggish industrialization and expand the GDP.

 

 

 

We wish to call attention to the cost of funds. The plan is to offer loans to 75 scalable enterprises with enormous prospects at 9% per annum, repayable over a maximum period of 60 months. The government would need to closely monitor the banking sector in the provision of these loan facilities so that the eventual cost of funds is not above 9% from other banking fees and charges. It may be judicious to stipulate that the total costs of funds is benchmarked to 9% regardless of the charges and fees.

 

 

 

 

The focus on improving public transportation, including providing buses to be fueled by compressed natural gas (CNG) for deployment in all the states, is a means to provide affordable transportation across Nigeria. This will help ease the problem of moving persons and goods across the nation. It will also reduce the cost of doing business which burdens most small enterprises.

 

 

 

 

The Chamber hereby expresses concerns about the role of the State and Local governments as well as transparency in the implementation of the palliative strategies as the government plans to introduce an Infrastructure Support Fund for the states to invest in critical areas and revamp healthcare and educational infrastructure.
·        We urge the government to ensure smooth and promising implementation of the measures and regularly engage the citizens and the organized private sector to ensure accountability. There should be proper monitoring and evaluation of the implementation process to ensure benefits to the people.
·        We also wish to nudge the government to share in the sacrifice made by Nigerians by reducing the high cost of governance in all its tiers and ensuring fiscal leakages and corruption are strategically dealt with. As we commend the government’s courage in enacting a series of policies, we trust that government would be courageous enough to cut the cost of governance. This will demonstrate to Nigerians that the leaders share in the suffering and sacrifice of the people. The perks available to public office holders are so enormous that it is difficult for the average Nigerian to understand why they suffer so much and those in leadership are unaffected. We urge Mr. President to do the needful, and we expect further announcements on the measure to cut the cost of governance.
·        As mentioned, security has not been given sufficient attention. It is also of utmost importance to deal with the issue of insecurity because, without security, there can be no prosperity. If the issue of insecurity is not adequately dealt with, the implementation of these strategies could be in jeopardy.
·        The issue of oil theft must not be sidelined at this stage, as it has critical implications for the rule of law and our economic well-being as a nation. This will demonstrate that there is a holistic effort to revamp the economy and chart a new path for Nigerians. Government should also track down and apprehend the culprits of oil theft as this will act as a deterrent and communicate powerfully that crime must be punished.
·        The fuel subsidy regime is sometimes described as a scam due to the opacity and lack of integrity of the arrangement, and it has indeed become a burden on the economy and a source of enrichment for a select group of individuals. Therefore, the Chamber calls on the government to make the required effort to identify and investigate the select group of individuals that plundered our national wealth and enriched themselves through the fuel subsidy regime. They should be brought to book to prevent a recurrence of such criminal actions that have destroyed our economy. Going forward, the system should also have sufficient transparency, accountability, and integrity, particularly with product pricing.
·        We urge Nigerians to exercise some patience, as emphasized by the President. The degradation of our economy has occurred over several decades and it can not be reversed within a few short months. It would take a concerted effort by all and focus on the strategic alignment of our national goals for change to occur. In reality, it is inevitable that we suffer some pain for these reforms to be successfully implemented. We all want a better and brighter future for Nigeria, so let us work together to make it happen.
ASIWAJU (DR.) MICHAEL OLAWALE-COLE, CON, MFR, FNIM, CNIM, FIoD
PRESIDENT / CHAIRMAN OF COUNCIL,
LAGOS CHAMBER OF COMMERCE & INDUSTRY
1 AUGUST, 2023

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Theo Somolu And Folake Olowofoyeku To Star In Disney’s ‘Mufasa’

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Theo Somolu And Folake Olowofoyeku To Star In Disney’s 'Mufasa'

Theo Somolu And Folake Olowofoyeku To Star In Disney’s ‘Mufasa’

 

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Nigerian actors Theo Somolu and Folake Olowofoyeku will star in Disney’s Mufasa, a prequel to The Lion King that explores Mufasa’s rise to kingship.

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Nigerian actors, Theo Somolu and Folake Olowofoyeku have secured roles in Disney’s prequel to the classic, The Lion King, titled Mufasa, which delves into the origin story of Simba’s father, scheduled to hit cinemas on December 20, 2024.

The casting of Somolu and Olowofoyeku marks a significant milestone for Nigerian representation in Hollywood. Details regarding their character are yet to be revealed.

Olowofoyeku brings a wealth of experience to the project. She has captivated audiences in both movies and television series, including her role in the popular sitcom, Bob Hearts Abishola (2019), Death Race 2050 (2017), Female Fight Club (2016), and the epic adventure, 10,000 A.D.: The Legend of the Black Pearl (2008).

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In addition, Somolu contributes his knowledge from previous projects, such as the children’s television program Mighty Express (2020), and Baggio: The Divine Ponytail (2021).

Moonlight and If Beale Street Could Talk director, Barry Jenkins is the director.

An era before Simba’s problems with his jealous uncle Scar will be revisited by viewers through Mufasa. Through a detailed account of his early years, the prequel will trace Mufasa’s development from a helpless cub to a courageous king.

The movie will explore the circumstances that lead Taka down a dark road and the complicated nature of their relationship.

According to Disney, “Mufasa: The Lion King enlists Rafiki to relay the legend of Mufasa to young lion cub Kiara, daughter of Simba and Nala, with Timon and Pumbaa lending their signature schtick. Told in flashbacks, the story introduces Mufasa as an orphaned cub, lost and alone until he meets a sympathetic lion named Taka — the heir to a royal bloodline. The chance meeting sets in motion an expansive journey of an extraordinary group of misfits searching for their destiny — their bonds will be tested as they work together to evade a threatening and deadly foe.”

Starring in the film are Beyoncé, Donald Glover, Blue Ivy Carter, Kelvin Harrison Jr., John Kani, Billy Eichner, Aaron Pierre, and Seth Rogen.

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How Ajobiewe settled long-standing feud between movie stars Yinka Quadri, Ogogo

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How Ajobiewe settled long-standing feud between movie stars Yinka Quadri, Ogogo

How Ajobiewe settled long-standing feud between movie stars Yinka Quadri, Ogogo

 

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The internet was stirred up when a video of two veteran Nollywood actors, Yinka Quadri and his colleague, Taiwo Hassan, popularly known as Ogogo, surfaced on social media platforms on Wednesday evening.

 

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Although, PUNCH Online could not confirm when or how the disagreement started between the two actors, they were seen settling their differences in a now viral video.

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In the video, one of Nigeria’s legendary Esa Oriki Orile exponents, Sulaiman Ajilara, popularly called Ajobiewe, was seen begging the veteran actors to put aside their differences and sheath their swords.

 

 

Ajobiewe made the peace call on Wednesday night during the birthday of actor Yomi Fabiyi.

 

When Quadri approached the dance floor, Ajobiewe insisted he call on his friend, Ogogo.

Afterwards, Ogogo joined Quadri while the chanter pleaded with them to settle their misunderstandings with his lyrics.

He sang in Yoruba, “Where is your Ogogo? Why did you come here alone? Call him for me. Tell him to come to me. I beg you, it is impossible not to have misunderstandings but I am begging you in the name of God, to settle whatever it is.

 

“Please hug each other and let it end there. I do not want to hear anything about your misunderstandings anymore for God’s sake.”

The two then hugged and smiled at each other.

Reacting to this, some Nigerians commended Ajobiewe for reuniting the actors, noting that it was good to see them back together.

Lanre Adeola, tweeting with the handle @lanreadeola said, “That’s lovely. An elder that doesn’t allow the baby’s neck to twist in the market.”

A tweep, Olanrewaju, who identifies as @olanrewaju wrote, “Agba o ni tan lori le…May God keep Ajobiewe for us for many years in good health. This is so nice.

Others expressed shock that the two were not on good terms. Sope, who tweets as @Dcsopetie wrote, “Wow! I never knew they were not talking to each other and how they hid it from the public is beyond me.

Meanwhile, Quadri, in a video shared by a YouTuber, Kilarigbo, earlier on Wednesday, confirmed their friendship, saying they are five and six.

 

He said though they are not biologically related, they are more like twins, adding that they have been friends since they met in 1985.

He, however, hinted that they have their issues, noting that they settle their misunderstandings without a third party.

He also warned the public to desist from spreading rumours of their fight, noting that they can never be separated by any force whatsoever.

However, PUNCH Online observed that both friends were hardly seen together in public in recent times.

Efforts to speak to Ogogo proved abortive as he didn’t pick calls or respond to text messages sent to his phone as of the time of filing this report.

Reacting, PUNCH’s style Editor, Tofarati Ige, said though the cause of their rift was unknown to the public, they started appearing less in public together.

He said, “Originally, Ogogo and Yinka Quadri were known to be close friends, as they often appeared at events together. In many films, they acted as friends, and their relationship continued off-screen. In some instances, they even wore outfits similar to those for public events.

 

“However, for some time, they started appearing less at public events together. Even when Ogogo’s daughter, Shakirat, got married, Yinka Quadri did not attend.

“Though the cause of their rift was not made known to the public, there were different rumours that they had fallen out, but neither of them acknowledged it publicly.

“However, the rift was well managed, as it was only known to insiders and privileged sources in the industry.”

Speaking further, he noted that when Quadri was approached about the issue, he declined to comment on it.

“Personally, when I heard of the rift about two years ago, I asked Yinka Quadri a question about it at an event, but he refused to comment on the issue.

“Till date, there are just speculations as to what actually caused the rift, I am not privy to what actually happened. As regards reconciliation, I am not aware of any elder that had tried to mediate between them.

“But, they are both close to elders in the industry, such as Jide Kosoko and Oga Bello, who are likely to have attempted to broker peace between them,” he added.

 

@PUNCHNG

 

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‘Pity men’, Williams Uchemba laments outfits women wear to the gym

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'Pity men', Williams Uchemba laments outfits women wear to the gym

‘Pity men’, Williams Uchemba laments outfits women wear to the gym

 

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Nollywood actor Williams Uchemba has lamented over the choice of outfit ladies wear to the gym.

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The movie star, in a video on his official Instagram account, lamented that women now wear revealing outfits to the gym, and the times he goes to the gym, he sees something he didn’t plan to see.

 

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'Pity men', Williams Uchemba laments outfits women wear to the gym

 

He also revealed that, due to this trend, he stopped going to public gym because of his desire to “make heaven.”

 

 

He said, “Ladies how far? Should all the men not come to the gym again? Because it’s getting out of hand and becoming appalling, I don tire. Make una try to dey wear beta cloth come gym nau, what is this?

 

 

“There are men that have made up their minds to make the heavenly race and na una dey plenty for gym. Whoever that sells these clothes to you people, their shop go burn down because what is going on? Every single time one comes to the gym, wetin you no plan see you must see am.

 

 

Una don make up una mind say no man in this Nigeria will make heaven but It won’t work because I’ve left the gym for una, I’ve set up a gym in my house because I cannot cope, I want to make heaven. You will have 20 people in the gym, 300 are women, doing exercises.

“Have conscience, men are people’s children too, I’m speaking for all the men and we need to make heaven.”

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