Business

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

Published

4 months ago

May 13, 2026

Preport

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

FG settles severance benefits for 2,100 former Nigeria Airways workers after two decades

Published

5 hours ago

September 12, 2026

Preport

The Federal Government has paid outstanding severance benefits to 2,100 former workers of the defunct Nigeria Airways, more than two decades after the national carrier was liquidated.

The payment covers beneficiaries in Batches 1 to 7, according to a statement issued by the Federal Ministry of Finance on Friday.

Another 600 former workers in Batches 8 and 9 are being processed for payment and are expected to receive their benefits within days, bringing the total number of beneficiaries under the exercise to 2,700.

The ministry said the benefits across the nine batches amount to N18 billion.

Nigeria Airways, which was established in 1958 as the country’s national carrier, ceased operations in 2003 and was liquidated in 2004. Many former workers subsequently spent years pursuing unpaid terminal and severance benefits.

The latest payment follows years of demands by former workers and interventions by the National Assembly and successive administrations over the outstanding liabilities.

In January 2025, the National Assembly Joint Committee on Aviation said the Federal Government owed former Nigeria Airways workers N36 billion and threatened to withhold approval of the aviation budget unless provisions were made for the payment.

How the payment was made

The Ministry of Finance said President Bola Tinubu had earlier approved the settlement of the outstanding severance obligations and directed that the matter be concluded.

Under the direction of the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, the ministry said processes were undertaken to identify eligible beneficiaries, validate records and establish the financial obligations before payments commenced.

Mr Oyedele said the payment was part of the government’s effort to address legitimate outstanding obligations.

“Behind these figures are people and families who have waited for years to receive what is legitimately due to them,” he said.

“Our responsibility is to confront outstanding obligations, complete the necessary processes and, once the resources are secured, ensure that the people affected feel the impact of government positively.”

He said the exercise demonstrated what could be achieved when government institutions worked together to resolve longstanding issues.

READ ALSO: NASS panel threatens to withhold aviation budget until Ex-Nigerian Airways workers are paid

The ministry also acknowledged the involvement of the Minister of Aviation and Aerospace Development, Mr Festus Keyamo, and the National Assembly Joint Committees on Aviation in efforts to resolve the matter.

The ministry said the objective was to ensure that legitimate beneficiaries received their approved entitlements while maintaining safeguards around public funds.

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Business

NNPC Retail Unveils First Smart Self-Service Station in Abuja

Published

13 hours ago

September 12, 2026

Preport

Customers in Abuja can now enjoy a more convenient and technology-enabled fuelling experience following the commissioning of NNPC Retail Limited‘s first Smart Self-Service Station on Bill Clinton Drive, Abuja.

The new station brings fuel, electric vehicle charging and other mobility and lifestyle services together in one location. Its 24-hour self-service system allows customers to complete fuel transactions independently; select the exact volume they require and pay at any time of the day or night.

NNPC Retail Limited, a subsidiary of the Nigerian National Petroleum Company Limited (NNPC Ltd), developed the station in partnership with the Nigeria Immigration Service (NIS), which provided the land for the project.

Speaking at the commissioning, NNPC Ltd’s Executive Vice President, Downstream, Mumuni Dagazau, said: “Today marks another important milestone in the evolution of NNPC Retail. The launch of this Smart Station reflects our commitment to innovation, convenience, operational efficiency, and most importantly, an exceptional customer experience.

NNPC Retail commended the NIS for its sustained cooperation, describing the collaboration as an example of the institutional partnerships required to deliver modern energy infrastructure across Nigeria.

Managing Director of NNPC Retail, Huub Stokman, said the Smart Station responds to changing consumer preferences across Nigeria’s downstream sector.

“More than ever, we need to meet the needs of Nigerian consumers. They want quality products at the right price, prompt and friendly service, more value-added offerings and convenient payment options. They also want to be rewarded for their loyalty, have access to more energy solutions, including EV charging and CNG, and, particularly among younger customers, receive these services sustainably. That is precisely what this Smart Station represents,” Stokman said.

Stokman acknowledged the contributions of the NIS, the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Africa Motor Works, technology partners, contractors and other stakeholders whose support was essential to the project’s delivery.

He reaffirmed NNPC Retail’s commitment to expanding the Smart Station model across the country, strengthening partnerships with public and private institutions, and building a more convenient, technology-enabled retail network centred on customers’ needs.

In her remarks, the Comptroller General, Nigeria Immigration Service (NIS), Kemi Nandap, represented by the Deputy Comptroller General, Finance & Accounts, Saidu Bashir Daura congratulated NNPC on the commissioning, describing the new station as a model for encouraging greater investment in sustainable energy infrastructure and innovative transportation solutions.

The station has 16 Premium Motor Spirit (PMS) pumps and two Automotive Gas Oil (AGO) pumps, supported by storage capacity of 180,000 litres of PMS and 5,000 litres of AGO. It also features an electric vehicle charging facility with an 86-point capacity, deployed in partnership with Africa Motor Works, as well as an LPG dispensing facility, a modern lubricant service bay and a fully automated car wash. Provision has been made for the future installation of Compressed Natural Gas (CNG) infrastructure.

Powered entirely by more than 200 kilowatt-hours of installed solar capacity, the facility also includes space for quick-service restaurants, a coffee shop and a convenience store. Together, these services position the station as a modern mobility and lifestyle destination rather than a conventional fuelling point.

The post NNPC Retail Unveils First Smart Self-Service Station in Abuja appeared first on Business Today NG.