Business

Lagos to Host Over 1,000 Global Investors at Commonwealth Business Summit

Published

6 months ago

May 13, 2026

Lagos State is set to welcome more than 1,000 investors from across the Commonwealth of Nations for a two-day investment summit scheduled for June 8–9, 2026, at Eko Hotels & Suites.

The summit, themed “Lagos: Business Gateway to Africa,” was announced during a press briefing by the State Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Ambrose-Medebem.

It is being jointly organised by the Lagos State Government, the Commonwealth Enterprise and Investment Council, and several public and private sector partners.

Ambrose-Medebem said the event has evolved beyond a traditional investment conference into a global platform for policy dialogue, capital mobilisation, investor matchmaking, and strategic economic engagement.

According to her, the expected participation of delegates from Commonwealth member states and other regions reflects growing international confidence in Lagos as a leading investment destination.

Attendees will include policymakers, multinational corporations, development finance institutions, entrepreneurs, innovators, and trade delegations from Africa, Europe, Asia, and the Middle East.

The summit will feature keynote speeches, plenary sessions, executive roundtables, sector-focused investment forums, exhibitions, and business-to-business and business-to-government meetings.

Key sectors on the agenda include infrastructure, manufacturing, agriculture, technology, the blue economy, tourism, energy transition, logistics, transportation, financial services, real estate, and small business development.

A major highlight will be a governors’ investment showcase designed to connect state governments with global investors and development partners.

The commissioner also emphasised Lagos’ strategic position as an economic hub, citing its large consumer base, expanding infrastructure, innovation ecosystem, and maritime advantages.

With a population of over 23 million and one of Africa’s largest city economies, she said Lagos remains uniquely positioned to attract global capital across multiple sectors, in line with Governor Babajide Sanwo-Olu’s economic agenda.

The summit is expected to produce investment agreements, policy frameworks, and action plans aimed at boosting job creation and long-term economic growth.

Co-chairman of the Technical Committee on Invest Lagos 3.0, Toyosi Akerele, also highlighted the role of technology in the event, noting that an AI-powered dashboard will enable global participation in real time.

Students from institutions such as Lagos State University will operate parts of the summit’s digital command centre as part of efforts to build youth capacity and human capital development.

She also disclosed plans for a podcast segment featuring foreign delegates sharing insights on Lagos’ business environment, culture, and tourism appeal.

In addition, more than 400 international delegates are expected to participate in post-summit guided tours on June 10, including visits to the Lekki Free Trade Zone, Dangote Refinery, Dangote Fertiliser Plant, Lekki Deep Sea Port, RussellSmith 3D Printing and Manufacturing Centre, as well as key transport infrastructure such as the Blue and Red Line rail systems.

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Business

Retirees Earning ₦150,000 or Less to get Free Health Insurance-PenCom

Published

3 hours ago

November 6, 2026

PlateauReports

BY NKECHI NAECHE-ESEZOBOR—Nigerian retirees aged 60 and above who receive a monthly pension of ₦150,000 or less are to get free health insurance, according to the National Pension Commission (PenCom).

The commission disclosed this in a notice posted on its X account, titled “Something big is coming for Nigeria’s retirees.” The notice says the development “concerns you directly” for pensioners in that category and names November 10, 2026 as the date to mark.

The free healthcare initiative is expected to enhance the well-being of retirees and strengthen their retirement security.

According to PenCom, the initiative is meant to reward retirees for the years they spent in active service.

“You gave Nigeria your best. Now, it’s your turn to be cared for,” the notice says.

The commission also directed retirees and other interested persons to visit its official website, pencom.gov.ng, or the websites of any Pension Fund Administrator (PFA) for more information.

The post Retirees Earning ₦150,000 or Less to get Free Health Insurance-PenCom appeared first on Business Today NG.

Business

Afrinvest CEO recalls how Elumelu’s $1 million loan helped salvage firm from crisis

Published

11 hours ago

November 6, 2026

PlateauReports

Tony Elumelu played a supreme role in getting investment bank Afrinvest back on track in 2011 after the global financial meltdown pushed the investment bank to the brink, its chief executive recalled in a letter to the tycoon seen by PREMIUM TIMES.

The multisectoral magnate, who is the top shareholder of United Bank for Africa, the Transcorp Group, and Seplat Energy, granted a soft loan of $1 million to Ike Chioke, the CEO of the financial institution, as a mark of urgent support when the firm direly needed the cash to recapitalise, the latter said.

“Fifteen years ago, Afrinvest was navigating one of the most challenging periods in its history, as we struggled to rebuild and recapitalise the business in the aftermath of the global financial crisis,” Mr Chioke said.

“At that critical juncture, when the future was far from certain, you made the remarkable decision to lend me US$1 million of your personal funds. You placed your confidence not simply in the prospects of a business but in me as an individual, my integrity, my determination and my conviction that Afrinvest could emerge stronger from adversity.”

This June, Mr Chioke eventually completed the repayment of the credit, according to the letter, describing the gesture as an extraordinary act of friendship, generosity and trust.

READ ALSO: Afrinvest repays undocumented $1 million from Elumelu with interest

Mr Elumelu, whose economic vision is anchored on what he calls “Africapitalism” – an investment philosophy that prioritises the private sector’s role in democratising the wealth Africa needs to power large-scale growth, has been involved in active philanthropic initiatives on the continent.

In March, his foremost charity project, the Tony Elumelu Foundation, turned sixteen, and he said the initiative had disbursed over $100 million in seed capital to 24,000 entrepreneurs in Africa and created more than 1.5 million jobs over the period.

The foundation expects to fund an additional 3,200 entrepreneurs this year, it said in September.

Mr Chioke applauded the profound impact Mr Elumelu’s financial assistance has had on Afrinvest, notably transforming it into a diversified regional financial services group with an expanding universe of clients and operations in asset management, investment banking, research & consulting, and securities trading.