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Police prays for cost against Evan’s lawyer

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The police on Tuesday, August 15, 2017 prayed the Federal High Court, Lagos to compel Mr. Olukoya Ogungbeje, counsel to suspected kidnap kingpin, Chukwudumeme Onwuamadike also known as Evans, to pay a punitive cost of N300,000.

Evans kidnapper
Evans

The Police want the lawyer to pay the cost for alleged wrongful service.

Evans, through Ogungbeje, had filed N300 million fundamental rights enforcement suit against the Inspector-General of Police (IGP), alleging wrongful detention.

Joined as respondents in the suit are the Nigerian Police Force (NPF), Commissioner of Police (COP) Lagos State and the Lagos State Anti-Robbery Squad (SARS) as second, third and fourth respondents respectively.

The suit was stalled before Justice Abdulaziz Anka  on July 20, following Ogungbeje’s failure to comply with a July 13order to pay the police N20,000 as costs.

However, at the commencement of proceedings yesterday, Ogungbeje informed Justice Anka that the cost was paid on August 10.

He said he had complied with the court’s order to serve the respondents and that the matter was ripe for hearing.

But counsel to the COP and SARS, Emmanuel Eze, opposed him.

Eze argued that Ogungbeje failed to serve IGP and NPF in Abuja as directed by the judge.

He said: “It is not true that the matter is ripe for hearing. This is a fundamental rights enforcement suit brought by the applicant.

“He has not got the leave of court for the matter to be heard during vacation. That is the condition precedent to hearing any matter during vacation.”

Relying on Section 215 of the Constitution and Order 5 Rule 8 of the Fundamental Rights Enforcement Procedure Rules 2009, Eze argued further that the COP Lagos State and the IGP were distinct personalities.

Ogungbeje, he stated, had only served the COP at Alagbon in Lagos but had yet to serve the IGP in Abuja.

He said: “Our submission is that he has not taken steps to clothe this court with jurisdiction to hear this case. Since Ogungbeje has refused to do the right thing, we are asking the court for costs of N300,000.”

In response, Ogungbeje maintained that the IGP and NPF were served on June 29 at the addresses contained on the originating motion and that the proof of service was in the court’s file.

He said: “Order 5 Rule 2 of the Fundamental Rights Enforcement Procedure Rules has made it clear that service on the respondents’ agents will amount to personal service on respondents.”

He argued that since Eze announced appearance for only the third and fourth respondents, he had no locus to speak for the IGP and The Police.

“He had no mouth to speak for the first and second respondents when there is proof of service.

“Lastly, this proceeding is sui generis (unique). As we speak, the applicant (Evans) is still in detention.”

He urged the court to discountenance Eze’s application for N300, 000 costs.

Justice Anka adjourned till Wednesday for ruling.

By Chinyere Obia

Court orders interim forfeiture of firm’s N206m over alleged fraud

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A Federal High Court, Lagos on Tuesday, August 15, 2017 froze the sum of N206 million belonging to a Lagos firm.

Federal High Court
The Federal High Court in Lagos

The funds, suspected to be proceeds of fraud, are under the investigation of the Economic and Financial Crimes Commission (EFCC).

The EFCC said it reasonably suspected the sum to be part of a fraudulent transaction and proceeds of crime by two respondents, Vermilion Studio Products Ltd and a woman, Akintola Olubunmi Vera.

Vacation Judge, Justice Abdulaziz Anka, authorised the agency to confiscate the money pending the determination of its investigation and possible prosecution of the case.

Justice Anka made the interim order following an ex parte application of August 10, 2017 by the Commission’s counsel, George Chia-Yakua.

Chia-Yakua told the judge that the sum was domiciled in two First Bank accounts numbered 3100844602 belonging to Vermilion Studio Products and 3011147218 belonging to Vera.

According to a supporting affidavit by an EFCC investigating officer, Paul Ugema, the agency commenced investigation of the matter following a petition it received.

The petition alleged that the respondents diverted over N206 million property of Mooncrest Enterprises Nigeria Ltd.

Ugema swore: “It was discovered that the respondents were making suspicious funds transfer into the accounts subject of investigation.

“I know as a fact that the money found in the accounts of the respondents are reasonably suspected to be proceeds of crime.”

By Chinyere Obia

Minister, Bayelsa spokesperson congratulate new GOCOP executives

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The Minister of Budget and National Planning, Senator Udoma Udo Udoma, has congratulated Dotun Oladipo on his election as the new President of the Guild of Corporate Online Publishers (GOCOP).

Dotun Oladipo
Dotun Oladipo, Managing Director, The Eagle Online, and President of GOCOP

Oladipo was elected during the association’s election held on August 9, 2017 in Lagos. ‎

Senator Udoma’s message was conveyed through a letter addressed to Oladipo.

The letter, dated August 14, 2017 and signed by Akpandem James, the Special Adviser to the Minister, said: “It is with great delight that I convey the Honourable Minister of Budget and National Planning, Senator Udoma  Udo Udoma’s  felicitation to  you and your team for emerging successful at the Guild’s election held on Wednesday last week ahead of  your very successful Annual General Conference in Lagos on Thursday.

“The Minister particularly notes your untiring efforts at building the Guild and was not at all surprised that members confidently elected you to lead them. The other members of your team were no less considered, as they have played pioneering roles at different points in the emergence of the very formidable platform whose members make up the Guild.

“Senator Udoma has been following the activities of the Guild and notes its contribution so far to national development and particularly the cordial relationship the Ministry shares with its members.

“It is rather unfortunate that your conference fell on the same day that the Ministry hosted a Cabinet Retreat in Abuja, a development which made it impossible for the Minister or any Senior member of the Ministry to be part of your conference, but the minister has indicated his intention to work towards further enhancing the relationship between the Ministry and GOCOP going forward.”

Similarly, Daniel Iworiso-Markson, the Chief Press Secretary to the Bayelsa State Governor, Seriake Dickson,  congratulated Oladipo.

Iworiso-Markson also‎ congratulated other members of the Guild who emerged victorious during the election.

They are Maureen Chigbo, the Publisher of RealNews magazine, who is now the Deputy President; Danlami Nmodu, Publisher of NewsDiaryonline, General Secretary; and Collins Edomaruse, who is the publisher of Metro Watch Online, as Deputy General Secretary.

Others are Segun Adeleye, Publisher of World Stage, who was elected the Financial Secretary; Janet Mba-Afolabi, Publisher of the Scroll, who is the Treasurer; and Olumide Iyanda, Publisher of Qed.ng, who emerged the Publicity Secretary of the Guild.‎

Iworiso-Markson in his congratulatory message said the election of Oladipo would further strengthen the Guild and position it for greatness as it continues to carry out its core mandate of informing and educating people through various online platforms.

He also expressed his appreciation to the entire members of the Guild for the relationship it has maintained with the Bayelsa State Government under the leadership of Dickson.‎

Images: Conservation International seeks collaboration with government

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A delegation of Conservation International (CI), an American nonprofit environmental organisation, and HURIDAC, a Nigerian non-governmental organisation, on Monday, August 14, 2017 visited the Federal Ministry of Environment in Abuja, the federal capital city. Delegates were received by the Environment Minister of State, Ibrahim Usman Jibril.

According to CI, it desires to collaborate with the Ministry on environmental development and related aspects.

Environment Ministry
The Minister informed the delegation on efforts towards effective management of the nation’s seven National Parks. He also spoke about the ongoing efforts in restoration of the ecosystem of the Niger Delta through the Clean-Up Campaign and empowering the youth
Ministry of Environment
Hajia Amina Salihu, Chair, Board of Trustees (BOT) of HURIDAC, shed some light on the organisation’s partnership with Conservation International on human rights as well as conservation and development issues
Ministry of Environment
Mike Onyeka, Senior Vice-President, Africa, Conservation International, expressed appreciation and acknowledged strong political will for conservation in Nigeria
Ministry of Environment
The delegation explored partnership opportunities to strengthen ongoing conservation efforts by the Federal Government
Ministry of Environment
The visit ended with agreed next-steps, putting environmental development at the core of future partnership

Court may wind-up Omritas Energy over N57.6m alleged debt

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Unless a Federal High Court, Ikoyi, Lagos decides otherwise, a firm, Omritas Energy Limited, may be wound up over its inability to pay a debt of N57.6 million.

Federal High Court
The Federal High Court in Lagos

The petitioner, AYM Shafa Limited, in a motion on notice brought pursuant to order 26 Rule 1 of the Federal High Court (Civil Procedure) Rules, 2009; section 408 (D) of the Companies and Allied Matters Act 2004; order 19 of the Companies Winding up Rules, 2001 and under the inherent jurisdiction of the court, sought the court for an order granting leave to the petitioner /applicant to advertise the winding up petition by one insertion in the Federal Government of Nigeria official gazette and two national daily newspapers to wit: Sun and Vanguard newspapers being newspapers circulating nationally and within Lagos where the respondent has its head office in compliance with the Companies Winding up Rules 2001.

Trouble began when the company offered to supply the petitioner 1,000,000 litres of Dual Purpose Kerosene (DPK) at the rate of N150 per litre which the petitioner payed N150,000,000.00 to the respondent but the respondent allegedly supplied 337,000 litres at N150 leaving a debit balance of N99,450,000.00.

After so many fruitless demands made to the petitioner to complete the supply of the DPK, the petitioner opted to take Automotive Gas Oil (AGO) at the rate of N160 per litre wherein the respondent supplied 339,000 litres, leaving a balance of N45,210,000.00.

Subsequently, the respondent approached that it has a cargo of AGO and will sell at the rate of N160 wherein the petitioner paid the respondent the sum of N105,760,000.00 for the supply of 661,000 liters of AGO but the respondent supplied only 583,000 litres of AGO leaving a debt balance of N12,480,000 when added to the earlier N45,210,000 brings the outstanding debt brings the total debt of the respondent to N57,690,000.00.

Notwithstanding several demands by the legal representative of the petitioner to the respondent to pay up its indebtedness, the respondent failed to do so. The respondent also made an undertaking on October 27, 2016 before the national chairman and former national chairman of Petroleum Tanker Drivers (PTD) to liquidate its indebtedness to the petitioner but failed to honour it.

Having failed to honour the undertaking it made before PTD national to pay its indebtedness to the petitioner, the respondent made another undertaking before the Commissioner of Police in Bauchi state to liquidate its indebtedness to the petitioner by January 11, 2017 which undertaking the company failed to honour.

On January 13, 2017 the respondent made another undertaking to pay its indebtedness to the petitioner and issued four Diamond bank cheques dated February 27, March 13, 27 and April 10, 2017 which cheques upon presentation were all dishonoured.

The petitioner therefore urged the court to make an order that Omritas Energy Limited be wound up by court under the provisions of sections 409(a) and 410(1)(b) of the Companies and Allied Matters Act, CAP C20 Laws of the Federation of Nigeria 2004.

But the respondent claimed that the petitioner has not complied with the law in presenting the petition therefore challenging the competence of the petition describing same as an abuse of court process.

The respondent also denied being indebted to the petitioner to the tune of the amount claimed or any sum at all. It further maintained that it only has 360,563 litres of AGO to supply to the petitioner and that parties subsequently disagreed on the price and the point of loading which is yet to be resolved before presentation of this petition.

Meanwhile Justice Ayotunde Faji has adjourned the matter till October 10, 2017.

By Chinyere Obia

World Ranger Day: Tribute to fallen frontline fighters

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In a message to commemorate the World Ranger Day 2017, Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) Secretary-General, John E. Scanlon, observed that challenges and risks that rangers face have increased significantly in recent years due to the surge in the poaching of and illicit trafficking in wildlife. He laments that, in the past 12 months, a further 105 rangers died in the line of duty, He enjoins the entire human race to stand with the park rangers of the world in their fight to protect wildlife

World Rangers Day
Female park rangers

World Ranger Day honours park rangers across the world who have been injured or lost their lives in the line of duty, and also celebrates the role rangers play in protecting our natural resources, including wild animals and plants.

The challenges and risks that rangers face have increased significantly in recent years due to the surge in the poaching of and illicit trafficking in wildlife, particularly of some of the world’s most iconic animal species, such as elephants and rhinos and plants, such as rosewood. Illegal trade in wild animals and plants is occurring at a scale that threatens wildlife, people and their livelihoods and it is being driven by transnational organised crime groups, rebel militia groups and, on rare occasions, rogue elements of regular military forces.

Honest and hardworking park rangers devote their lives to protecting our natural resources and cultural heritage and, in some areas, these brave men and women regularly encounter well-resourced groups of poachers, equipped with high caliber weapons, who do not hesitate to use violence or threats of violence against them. Yet these devoted rangers determinedly perform their duties, often without the recompense allocated to their counterparts in other enforcement agencies.

The dedication and commitment shown by these honest hard working park rangers on a daily basis is worthy of much greater public recognition and the Secretariat of the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) therefore warmly welcomes World Ranger Day.

Sadly, in the past 12 months we have lost a further 105 rangers in the line of duty that were reported to the International Ranger Federation as shown in the 2017 Ranger Roll of Honour.  Today, the CITES Secretariat joins the rest of the world in saluting those honest and hardworking park rangers who are serving in the front-lines, in recognition of their dedicated work to protect our natural resources and cultural heritage for current and future generations.

On this special day, we also carry in our thoughts the park rangers who have paid the ultimate price in the execution of their duties, as well as the families and friends they have left behind.

The best way to pay our tribute to these brave men and women is to give our concrete support to the frontline fighters and their families. The world’s governments and communities from across every nation are determined to win this fight against poaching and wildlife trafficking, and while we continue to face many challenges, we are also seeing examples of great progress being made.

The 183 Parties to CITES along with hundreds of interested international and national organisations, gathered in Johannesburg, South Africa in September 2016 at the World Wildlife Conference, or CITES CoP17, where they debated and decided upon a bold range of measures to enhance our collective efforts to tackle illicit trafficking in wildlife. The International Consortium on Combatting Wildlife Crime (ICCWC) has also stepped up its frontline enforcement support as has CITES MIKE.

This occasion offers the CITES Secretariat an opportunity to again draw attention to the work being done under the CITES Monitoring the Illegal Killing of Elephants (MIKE) programme. MIKE was developed by CITES to strengthen individual and institutional capacity in elephant range States in Africa and Asia to manage and protect their elephant populations. Working with well over 1,700 park rangers and data-management officers in Africa, MIKE has hosted close to 100 training programmes since 2008.  This work is being further expanded under the Minimising the Illegal Killing of Elephants and Other Endangered Species (MIKES) programme to provide practical and real time support to rangers who are serving in the field in eight selected focal sites.

In March, we announced that CITES MIKES will provide support to the five protected areas in the three countries that make up the W-Arly-Pendjari Protected Area Complex (WAP), namely Benin, Niger and Burkina Faso. Activities will focus on: strengthening patrol staff capacity and performance throughout the area; improving law enforcement management, including communications within and between the protected areas; increasing the contribution of intelligence to wildlife law enforcement; and enhancing community and interagency collaboration and support for wildlife law enforcement operations. This targeted intervention, which is expected to last into 2019, is generously funded by the European Union.

The MIKE Programme has also developed a site-level Law Enforcement Capacity Assessment designed to assess the effort and resources employed by participating range States in the detection and prevention of illegal killing of elephants, with 43 responses recorded so far, helping to pinpoint where further capacity support is needed.

CITES reviews sustainability of wildlife trade

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Close to 500 scientific experts, specialists and other observers, ranging from fisheries agencies and bird breeders to botanical gardens and musical instrument industries, gathered recently in Geneva, Switzerland for the meetings of the CITES Animals and Plants Committees.

CITES
A session at the CITES Animals and Plants Committees in Geneva, Switzerland

The Committees recommended specific actions on a wide variety of issues, including on: trade quotas for trade in the queen conch; the development of scientific non detriment findings (NDF) for sharks and rays; Rosewood timber species identification and trade challenges, especially regarding the international movement of musical instruments and items containing CITES-listed wood; a range of African tree species, including African cherry and East-African sandalwood; and on wild orchid management.

The Committees also began the implementation of two scientific review processes, proposing for further consideration of 25 species of animals and plants for the revised significant trade review process and 16 animal species for the new review of trade in specimens reported as produced in captivity or ranched.

“With the two compliance processes on Review of Significant trade and Captive Breeding, the Animals Committee can now, based on sound science, better ensure that trade in animal species is not detrimental to their survival,” noted Mr. Mathias Lörtscher, the newly-elected Chair of the Animals Committee.

Some of the other topics covered by the Animals and Plants Committees include: reviewing the progress towards the conservation and sustainable use of banggai cardinalfish, an ornamental fish endemic to Indonesia; agreement on global and regional efforts to study the population and trade status of the various eel populations; considering the possible implications of the Convention’s treatment of specimens produced from synthetic cultured DNA; addressing challenges on the identification of timber species; the collaborative CITES-CMS African Carnivores Initiative for animals, and recommendations on the consistent implementation of CITES measures on rosewood.

The Animals and Plants Committees also held a joint session to address matters of common interest, with the Opening Session attended by the Mr. Lörtcher and Ms. Adrianne Sinclair, newly elected Chair of the Plants Committee, as well as John E. Scanlon, CITES Secretary-General.

“The enthusiasm and interest in CITES reflected at CoP17 has carried over to our Animals and Plants Committees. Over the past two weeks, CITES scientific committees have advanced the revised review of significant trade in wildlife, launched a new process for reviewing trade in specimens reported as being produced in captivity or ranched, made important recommendations to the Standing Committee on how to interpret CITES new rosewood listings, and much more,” said John E. Scanlon, CITES Secretary General.

Ms. Sinclair said, “the range of species covered and the open, collaborative discussions that took place at this meeting indicate the importance of the work being done, as well as the dedication of experts in bringing tangible results to our shared understanding of conservation and sustainable use to the trade of wild species.”

During the course of the Opening Ceremony for the joint session, the Secretary-General of CITES awarded the CITES Secretary-General’s Certificate of Merit to the Agri-Food and Veterinary Authority (AVA), which is the CITES Management Authority of Singapore, for its role in recognition of the great perseverance it demonstrated in securing successful convictions for illegal timber trade of CITES-listed rosewood (Dalbergia spp.) logs in 2014.

“CITES Committees do extraordinary and critical work, with members serving in an individual capacity. We thank the Committee members, our two new Committee Chairs, and all observers for giving CITES the benefit of their time and expertise. This work brings sound science to CITES decisions makers, in support of well informed decisions, noting the supreme decision making role of the Parties through the Conference of the Parties and Standing Committee,” added Scanlon.

The next meetings of the Animals and Plants Committees will also be held in Geneva, in July 2018, with the CITES Standing Committee to meet in Geneva in late November, 2017.

What delegates will negotiate at COP23 in Bonn

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The United Nations Climate Change Conferences or Conference of Parties (COP) are yearly conferences held in the framework of the United Nations Framework Convention on Climate Change (UNFCCC). At COP23 scheduled to hold under the Presidency of Fiji but hosted in Bonn, Germany, governments are meeting to advance the implementation of the Paris Agreement, which was the outcome of COP21 in Paris, France in 2015.

Bonn COP23
Work on the “Bonn Zone” area at the venue of COP23 started on Monday, August 14, 2017 in Bonn’s Rheinaue Park

The focus is on the development of guidelines on how the Paris Agreement’s provisions will be implemented across a wide range of issues including transparency, adaptation, emission reductions, provision of finance, capacity-building and technology.

The aim is make progress in all these areas so that the guidelines can be completed by COP24 in Poland in 2018.

This work is advanced through sessions of the following bodies:

  • The twenty-third session of the Conference of the Parties (COP 23)
  • The thirteenth session of the Conference of the Parties serving as the meeting of the Parties to the Kyoto Protocol (CMP 13)
  • The second part of the first session of the Conference of the Parties serving as the meeting of the Parties to the Paris Agreement (CMA 1.2)
  • The forty-seventh session of the Subsidiary Body for Scientific and Technological Advice (SBSTA 47)
  • The forty-seventh session of the Subsidiary Body for Implementation (SBI 47)
  • The fourth part of the first session of the Ad hoc Working Group on the Paris Agreement (APA 1.4)

The COP, the CMP and the CMA are the supreme decision-making bodies for the Convention, the Kyoto Protocol and the Paris Agreement respectively.

The SBSTA supports the work of the supreme bodies by providing timely information and advice on scientific and technological matters as they relate to the Convention, the Kyoto Protocol and the Paris Agreement, while the SBI supports the supreme bodies through the assessment and review of the effective implementation of the Convention, the Kyoto Protocol and the Paris Agreement.

The APA was established by the COP in 2015 to prepare for the entry into force of the Paris Agreement and for the convening of the first session of the CMA. While the Paris Agreement has already entered into force, the APA continues to work towards completing the work programme under the Paris Agreement which was agreed together with the adoption of the Agreement in 2015.

The outcomes of this work should be ready for consideration at the third part of CMA 1 in 2018. The SBSTA and the SBI also have tasks to complete under the Paris Agreement work programme.

Cholera count reaches 500,000 in Yemen

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The total number of suspected cholera cases in Yemen this year hit the half a million mark on Sunday, August 13, 2017 and nearly 2,000 people have died since the outbreak began to spread rapidly at the end of April.

Yemen cholera
Cholera in Yemen: A health worker tends to Khadeeja Abdul-Kareem, 20. Khadeeja was forced to flee the conflict in Al-Waziya District, Taiz. Displaced from her home, she struggles to make ends meet – a situation compounded by her illness

According to the World Health Organisation (WHO), the overall caseload nationwide has declined since early July, particularly in the worst affected areas. But suspected cases of the deadly waterborne disease continue to rage across the country, infecting an estimated 5,000 people per day, the UN body added.

The spread of cholera is said to have slowed significantly in some areas compared to peak levels but the disease is still spreading fast in more recently affected districts, which are recording large numbers of cases.

Yemen’s cholera epidemic, currently the largest in the world, has spread rapidly due to deteriorating hygiene and sanitation conditions and disruptions to the water supply across the country. Millions of people are cut off from clean water, and waste collection has ceased in major cities.

A collapsing health system is struggling to cope, with more than half of all health facilities closed due to damage, destruction or lack of funds. Shortages in medicines and supplies are persistent and widespread and 30 000 critical health workers have not been paid salaries in nearly a year.

“Yemen’s health workers are operating in impossible conditions. Thousands of people are sick, but there are not enough hospitals, not enough medicines, not enough clean water. These doctors and nurses are the backbone of the health response – without them we can do nothing in Yemen. They must be paid their wages so that they can continue to save lives,” said Dr. Tedros Adhanom Ghebreyesus, WHO Director-General.

He added that WHO and partners are working around the clock to set up cholera treatment clinics, rehabilitate health facilities, deliver medical supplies, and support the national health response effort.

More than 99% of people sick with suspected cholera who can access health services are said to be surviving. Furthermore, nearly 15 million people are unable to get basic healthcare.

“To save lives in Yemen today we must support the health system, especially the health workers. And we urge the Yemeni authorities – and all those in the region and elsewhere who can play a role – to find a political solution to this conflict that has already caused so much suffering. The people of Yemen cannot bear it much longer – they need peace to rebuild their lives and their country,” said Dr. Tedros.

WorldStage Summit 2017 to explore innovation for economic transformation

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All is set for the WorldStage Economic Summit 2017with the theme: “Transforming Business and Economy Through Innovation”. It holds in Lagos on Wednesday, August 23, 2017.

summit-photo
L-R: Mr Kanmi Ayodeji, Manager Planning, Department of Petroleum Resources, representing Mr. Mordecai Ladan, Director, DPR; Mrs Omolara Aromolaran, MD/CEO, Crown Natures Nigeria Plc; Tobe Ifeanyi, Manager, Marketing and Communications, Junior Achievement Nigeria (JAN); and Dr Dele Oyeku, Director, Extension & Linkage, Federal Institute of Industrial Research Oshodi (FIIRO), representing Dr. Gloria Elemo, Director General/CEO, FIIRO, at the WorldStage Economic Summit 2016 at the Lagoon Restaurant, Victoria Island, Lagos, Nigeria on Wednesday, November 16, 2016.

In a statement by World Stage Limited, the organisers, the summit will attract participation from the Presidency, National Assembly, MGAs, State Governments, OPS- Oil and Gas, Banking, Insurance, Maritime, Aviation, Mining, Agriculture, Hospitality & Tourism, Entertainment, Construction, Power, ICT, Education, Transportation, Local and Foreign Investors, Media and other relevant stakeholders.

This year’s summit will also include the presentation of awards to personalities, institutions and regulators in recognition of their significant contributions to the Nigerian economy in the last one year.

According to Mr Segun Adeleye, President/CEO, World Stage Limited, with the calls for Nigeria to diversify its economy from oil after several missed opportunities in six decades since the discovery of oil in 1956, the new question begging for answer is how fast and far can diversification solve economic recession and other problems in the short, medium and long terms?

He said because of how crucial it is for Nigeria to fast-track its economic development and make it sustainable, an expert in Entrepreneurship and Business Innovation Economics, Dr. Ayodele Shittu, of the University of Lagos, will present a researched paper on the theme of the summit.

“As Nigeria is projected to be the third most populous country behind India and China by 2050, any diversification now without innovation by businesses and government may be tantamount to running on the same spot,” he said.

“It has been established that a large share of economic growth is driven by technological advancement and that policies aiming at fostering technological progress have the potential to boost economic growth.

“If countries such as Singapore and United Arab Emirate can be so successful and cities such as Dubai can become global with economy being driven with revenues mainly from tourism, aviation, real estate, financial services, and less than 5% from oil, it is not impossible for Nigeria’s states, private sector and the Federal Government to be so successful economically.”

The WorldStage Economic Summit is a global platform for addressing economic challenges through diagnoses and application of practicable solutions with public and private sector engagement in a research and innovation driven system to inspire new thinking in business operation, policy formulation/implementation, economic reform and development.

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