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Abuja Chamber of Commerce Congratulates Federal Government as Economic Stabilisation Plan Boosts Investments

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… announces 19th Abuja International Trade Fair

 

The Abuja Chamber of Commerce and Industry (ACCI) has applauded the Federal Government for its proactive efforts in creating a more conducive business environment, which is now yielding tangible results through increased investments in Nigeria. The Chamber lauded the government’s Economic Stabilisation Plan as a key driver in attracting foreign direct investment (FDI) into the country, evidenced by the Coca-Cola system’s commitment to an additional $1 billion investment in Nigeria’s beverage and manufacturing sector.

Professor Adesoji Adesugba, First Deputy President of the Abuja Chamber of Commerce, expressed the Chamber’s delight at the growing investor confidence being fostered by the government’s policies. He noted that the Coca-Cola system’s significant investment is a testament to the effectiveness of the government’s initiatives, particularly the ongoing economic reforms aimed at ensuring sustainable growth.

“The Economic Stabilisation Plan of the Federal Government is highly commendable and is already delivering promising outcomes. The Coca-Cola system’s decision to accelerate its investments in Nigeria to $1 billion reflects the positive impact of an enabling business environment,” said Adesugba. He further acknowledged the government’s comprehensive approach to creating business-friendly policies and encouraged other companies to take advantage of Nigeria’s improved business climate.

Professor Adesugba also lauded President Bola Ahmed Tinubu’s “Renewed Hope” agenda, stating that the administration’s efforts will drive Nigeria toward long-term economic prosperity.

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In a related development, the ACCI is set to commence the 19th Abuja International Trade Fair (AITF), which will take start from **Monday September 20 to October 1, 2024, at the Abuja Trade and Convention Centre, Lugbe. This prestigious event, now in its 19th edition, has become one of Nigeria’s most significant multi-sectoral trade platforms, offering local and international exhibitors a prime opportunity to showcase their products and services, enter new markets, and forge valuable business relationships.

This year’s theme, “Mobility Options for Transportation, Trade Financing, and Taxation,” reflects a strategic focus on key areas that are critical for business growth and development. The AITF will explore solutions to reduce logistical challenges, enhance supply chain efficiency, and lower operational costs. It will also address the need for sustainable financing and effective taxation strategies in today’s global economy.

AITF 2024 is expected to attract over 500 exhibitors, displaying more than 10,000 products, services, and solutions to nearly 100,000 attendees over the 12-day event. The trade fair will provide a platform for knowledge sharing, networking, and collaboration among entrepreneurs, policymakers, and industry leaders. Discussions will focus on sustainable business practices, equitable financing, and innovative taxation strategies, all aimed at fostering a more resilient and inclusive economy.

The Abuja Chamber of Commerce and Industry continues to work toward the sustainable growth and development of businesses within the Federal Capital Territory (FCT) and across Nigeria. Through its various partnerships with business groups, international chambers, and trade associations, the ACCI remains committed to promoting economic and industrial development.

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Tinubu unveils 2024 Christian pilgrimage to Israel, Jordan

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President Bola Tinubu has officially flagged off the 2024 main Christian pilgrimage to Israel and Jordan.

This was contained in a statement by the Deputy Director and Head of Media and Public Relations of Christian pilgrimage, Celestine Toruka, and published on the Commission’s official X handle on Monday.

The president, represented by the Secretary to the Government of the Federation, George Akume, urged pilgrims to view their journey as an opportunity to strengthen their faith in God.

He noted that the theme of the 2024 pilgrimage, “Pilgrimage of Renewed Hope for Total Restoration,” aligns with the vision and agenda of his administration.

The president called on the intending pilgrims to pray for the progress of Nigeria, Lagos State, and their families.

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Tinubu warned the pilgrims against absconding while in the Holy Land, stressing that there is no better place than home.

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Reduction in fuel pump price to reflect at filling stations within the week – PETROAN

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petrol

The Petroleum Products Retail Outlets Owners Association of Nigeria, PETROAN, has urged Nigerians to expect a reduction in the pump price of the product within the week.

It should be recalled that last week, the Nigerian National Petroleum Company Limited, NNPCL, and the Dangote Refinery reduced the ex-depot price of petrol to N899 per litre in Lagos.

PETROAN President, Billy Gilly-Harry, spoke on when the price change will take effect while appearing on Monday’s edition of Channels Television’s breakfast show, Sunrise Daily.

“But I believe from today when members start loading from both NNPC and Dangote at this new price reduction, it will reflect in the market.

“But also I’ll give kudos to some of our members, some of the leaders in PETROAN, you know, that have done so well, especially in Abuja, for even reducing their prices to below N1,000 before even this announcement.

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“So, we don’t encourage our members to try to sell products at a loss because our focus is to serve Nigerians. And the only way we can serve Nigerians is when we have the resources to be able to do that.

“The resources can only be there if we’re making marginal profit enough to pay for the cost of money and make sure that we continue to do business. So, never mind, you’ll see the translation of this reduction of prices in the retail outlets hopefully within the week,” he said.

According to him, the inability of members to sell in line with the new ex-depot price is due to some of them having old stocks that were bought at higher prices.

The PETROAN boss commended Dangote Refinery and NNPCL for the reduction in the price of the commodity.

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FG declares wed, Thur, Jan 1, 2025 as public holidays

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Federal Government has declared Wednesday, December 25, 2024, Thursday December 26, 2024, and Wednesday January 1, 2025 as public holidays to celebrate Christmas, Boxing Day and New Year respectively.

The Minister of Interior, Dr. Olubunmi Tunji-Ojo, who made the declaration on behalf of the Federal Government extended warm greetings to all Nigerians, urging them to use the festive period to reflect on the values of love, peace, and unity that the season signifies.

In a statement, Tunji-Ojo emphasised the importance of the season as a time to
foster harmony and strengthen bonds across families and communities.

The minister also called on Nigerians to remain committed to the peace, unity and progress of the nation for national development.

“The Christmas season is a good moment for both spiritual reflection and national renewal. As we celebrate the birth of Jesus, the Prince of Peace, let us demonstrate kindness and extend goodwill to one another, irrespective of our differences,” Tunji-Ojo, said.

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He assured citizens of the Federal Government’s continued commitment to ensuring peace, security, and prosperity across the nation.

While wishing Nigerians a merry Christmas and a prosperous 2025, the minister expressed his confidence in the Renewed Hope Agenda of President Tinubu’s Administration ushering in the new year, a better and prosperous economy that will be the envy of the world.

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