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AP News Summary at 2:05 p.m. ESTTORONTO--(BUSINESS WIRE)--Dec 6, 2024-- Greenland Resources Inc. (Cboe CA: MOLY | FSE: M0LY) (“Greenland Resources” or the “Company”) welcomes the Government of Canada’s decision announced today to appoint an Arctic ambassador and open a consulate in Nuuk, Greenland. This follows the new Canadian Arctic Foreign Policy Framework to protect, together with its allies, the economic and military challenges including mineral resources security supply in the Arctic. The Company believes this is relevant for the Project as it is in negotiations to secure Capex funding from Canadian and recently announced European financial institutions and agencies in its press releases dated October 1 and October 15, 2024 . This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241206778181/en/ Greenland Resources Inc. Greenland Resources is a Canadian public company with the Ontario Securities Commission as its principal regulator and is focused on the development of its 100% owned Climax type primary molybdenum deposit located in central east Greenland. The Project has copper and also magnesium, a market dominated 98% by China. The Malmbjerg molybdenum project is an open pit operation with an environmentally friendly mine design focused on reduced water usage, low aquatic disturbance and low footprint due to modularized infrastructure. The Malmbjerg project benefits from an NI 43-101 Definitive Feasibility Study completed by Tetra Tech in 2022, with an US$820 million capex and a levered after-tax IRR of 33.8% and payback of 2.4 years, using US$18 per pound molybdenum price. The Proven and Probable Reserves are 245 million tonnes at 0.176% MoS 2, for 571 million pounds of contained molybdenum metal. As the high-grade molybdenum is mined for the first half of the mine life, the average annual production for years one to ten is 32.8 million pounds per year of contained molybdenum metal at an average grade of 0.23% MoS 2, approximately 25% of EU total yearly consumption. The project had a previous exploitation license granted in 2009. With offices in Toronto, the Company is led by a management team with an extensive track record in the mining industry and capital markets. For further details, please refer to our web site ( www.greenlandresources.ca ) and our Canadian regulatory filings on Greenland Resources’ profile at www.sedarplus.com . The Project is supported by the European Raw Materials Alliance (ERMA). ERMA is managed by EIT RawMaterials , an organization within the EIT, a body of the European Union. About Molybdenum and the European Union Molybdenum is a critical metal used mainly in steel and chemicals that is needed in all technologies in the upcoming green energy transition. When added to steel and cast iron, it enhances strength, hardenability, weldability, toughness, temperature strength, and corrosion resistance. Based on data from the International Molybdenum Association and the European Commission Steel Report, the world produced around 576 million pounds of molybdenum in 2021 where the European Union (“EU”) as the second largest steel producer in the world used approximately 24% of global molybdenum supply and has no domestic molybdenum production. To a greater degree, the EU steel dependent industries like the automotive, construction, and engineering, represent around 18% of the EU’s ≈ US$16 trillion GDP. Greenland Resources strategically located Malmbjerg molybdenum project has the potential to supply in and for the EU approximately 25% of the EU consumption, of environmentally friendly high-quality molybdenum from a responsible EU Associate country, for decades to come. The high quality of the Malmbjerg ore, having low impurity content in phosphorus, tin, antimony, and arsenic, makes it an ideal source of molybdenum for the high-performance steel industry lead worldwide by Europe, specifically the Scandinavian countries and Germany. Forward Looking Statements This news release contains "forward-looking information" (also referred to as "forward looking statements"), which relate to future events or future performance and reflect management’s current expectations and assumptions. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "hopes", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things: the Company’s objectives, goals or future plans; planned capex financing and outcomes of due diligence reviews; construction and engineering initiatives for the Malmbjerg molybdenum project; statements, exploration results, potential mineralization, the estimation of mineral resources and reserves, and their valuation, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. These forward-looking statements and information reflect the Company’s current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include: future planned development and other activities on the Project; favourable outcomes of due diligence reviews; planned energy requirements of the Project; obtaining the permitting on the Project in a timely manner; no adverse changes to the planned operations of the Project; continued favourable relationships with local communities; current EU and other initiatives remaining in place into the future; expected demand for molybdenum in the EU and abroad, including by companies that expressed an interest in purchasing molybdenum; our mineral reserve estimates and the assumptions upon which they are based, including geotechnical and metallurgical characteristics of rock confirming to sampled results and metallurgical performance; tonnage of ore to be mined and processed; ore grades and recoveries; assumptions and discount rates being appropriately applied to the technical studies; estimated valuation and probability of success of the Company’s projects, including the Malmbjerg molybdenum project; prices for molybdenum remaining as estimated; currency exchange rates remaining as estimated; availability of funds for the Company’s projects; capital decommissioning and reclamation estimates; mineral reserve and resource estimates and the assumptions upon which they are based; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour-related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner or at all; and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive. The Company cautions the reader that forward-looking statements and information include known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the favourable results of the SIA (Social Impact Assessment) and EIA (Environmental Impact Assessment); favourable local community support for the Project’s development; the projected demand for molybdenum both in the EU and elsewhere, including by companies that expressed an interest in purchasing molybdenum; the current initiatives and programs for resource development in the EU and abroad; the projected and actual status of supply chains, labour market, currency and commodity prices interest rates and inflation; the projected and actual status of the global and Canadian capital markets, fluctuations in molybdenum and commodity prices; fluctuations in prices for energy inputs, labour, materials, supplies and services (including transportation); fluctuations in currency markets (such as the Canadian dollar versus the U.S. dollar versus the Euro); operational risks and hazards inherent with the business of mining (including environmental accidents and hazards, industrial accidents, equipment breakdown, unusual or unexpected geological or structure formations, cave-ins, flooding and severe weather); inadequate insurance, or the inability to obtain insurance, to cover these risks and hazards; our ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; changes in laws, regulations and government practices in Greenland, including environmental, export and import laws and regulations; legal restrictions relating to mining; risks relating to expropriation; increased competition in the mining industry for equipment and qualified personnel; the availability of additional capital; title matters and the additional risks identified in our filings with Canadian securities regulators on SEDAR+ in Canada (available at www.sedarplus.ca ). Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described, or intended. Investors are cautioned against undue reliance on forward-looking statements or information. These forward-looking statements are made as of the date hereof and, except as required by applicable securities regulations, the Company does not intend, and does not assume any obligation, to update the forward-looking information. Neither the Cboe Canada Exchange nor its regulation services provider accepts responsibility for the adequacy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. View source version on businesswire.com : https://www.businesswire.com/news/home/20241206778181/en/ CONTACT: Ruben Shiffman, PhD Chairman, President Keith Minty, P.Eng, MBA Engineering and Project Management Jim Steel, P.Geo, MBA Exploration and Mining Geology Nauja Bianco, M.Pol.Sci. Public and Community Relations Gary Anstey Investor Relations Eric Grossman, CPA, CGA Chief Financial Officer Corporate office Suite 1810, 25 York Street, Toronto, Ontario, Canada M5J 2V5 1-844-252-0532 info@greenlandresourcesinc.com www.greenlandresources.ca KEYWORD: IRELAND UNITED KINGDOM GREENLAND CANADA NORTH AMERICA EUROPE INDUSTRY KEYWORD: PUBLIC POLICY/GOVERNMENT DEFENSE MINING/MINERALS OTHER POLICY ISSUES MILITARY NATURAL RESOURCES SOURCE: Greenland Resources Inc. Copyright Business Wire 2024. PUB: 12/06/2024 02:07 PM/DISC: 12/06/2024 02:05 PM http://www.businesswire.com/news/home/20241206778181/enBitcoin proxy MicroStrategy to join the Nasdaq 100 and heavily traded ‘QQQ' ETF
NIGER has suspended the operations of the British media company, BBC, owing to the suspicion that the company is trying to disrupt the country’s peace. Niger’s government has suspended the UK-based broadcasting network, BBC, for three months, over its reporting of a terrorist attack that allegedly killed dozens of its soldiers and civilians. “BBC broadcasts false information aimed at destabilizing social calm and undermining the troops’ morale,” said Raliou Sidi Mohamed, Niger’s communications minister. His statement was aimed at local radio stations that rebroadcast BBC content. He instructed that they cut off all content that traces back to BBC. The British network on Wednesday reported that jihadists massacred 90 troops and up to 40 people in Chatoumane, located in the western Tera area bordering Burkina Faso and overflowing with armed rebels. However, Niger, on the same day, denied the details of the report, calling the allegations of the massacre “baseless assertions” and a “campaign of intoxication,” as seen on AP News. This is hardly the first time Niger has had a running-in with foreign media. In September, Wassim Nasr, a France 24 journalist was served a lawsuit by the Alliance of the Sahel States (AES), which consists of Niger, Mali, and Burkina Faso. They alleged that the journalist was culpable for instigating acts of terrorism by contacting terrorists who are currently causing severe insecurity problems in the West African sub-region. These decisons to sanction Western media align with the AES’s new political stance to expel as much Western influence as possible. The nations that make up the AES in recent years have all been switched to military rule, after successful coups. For Niger, a group of soldiers from the presidential guard announced the ousting of Bazoum, on the the 26th of July 2023. The country has since been governed by the National Council for the Safeguard of the Homeland, which is being commanded by the guard’s commander, Abdourahamane Tiani. However, on the 10th of August, Tiani issued an order establishing a transitional administration. Additionally, Niger, alongside fellow AES countries, opted to form their regional coalition outside of ECOWAS, despite being a part of West Africa. They did this noting that ECOWAS still had a strong affiliation with the West, which is counterproductive to what they are trying to achieve.
Incyte Announces Updated Presentation Time for Upcoming Investor ConferenceWall Street bulls mounted a valiant effort and pushed the stock market sharply Friday on a double dose of encouraging news. But the rally was not enough to overcome Wednesday's Fed-driven plunge. The S&P 500 dropped for the second straight week, losing 2%, while the Dow Jones Industrial Average made it three down weeks in a row, with a loss of more than 2.2%. The Nasdaq posted a 1.8% weekly decline, breaking a four-week winning streak. Looking under the hood of the S&P 500, all sectors closed lower for the week, despite Friday's rally. Energy was the worst-performing sector followed by real estate and materials. > Philadelphia news 24/7: Watch NBC10 free wherever you are Investors got several important updates this week that influenced markets — the most consequential being the Fed's 25-basis-point interest rate cut at the conclusion of its December two-day meeting on Wednesday afternoon. While the move was largely expected, the market took issue with the monetary policy committee's more hawkish outlook on rate cuts in 2025. The so-called dot plot, which illustrates central bankers' future rate expectations, pointed to a committee consensus that it will be appropriate to reduce rates only twice next year, half the number of moves indicated back in September. There is no denying that rate expectations are important, but we would caution Club members from allowing updates like this to weigh on investment decisions too heavily. While we now know who will sit in the White House come Inauguration Day on Jan. 20, and have since received more updates on inflation and the job market, nobody truly knows what 2025 will bring. There will be countless updates on inflation, rates, geopolitics, and more over the coming months, some of which we can see coming and some that will completely surprise us. The Fed, as it has been and as it should, will adjust its outlook accordingly. While we certainly don't want to fight the Fed, we also don't want to let every word out the mouth of a Fed official have us running to our brokerage account and making sweeping changes to our exposure. Rather, as long-term investors, we have the luxury of knowing that when the market might overreact to updates from the Fed or any other event, it can provide us with opportunities to buy shares in great companies with staying power. This is exactly what we did last week as the market got more and more oversold, according to our trusted S&P 500 Short Range Oscillator . In other words, keep focused on the fundamentals and use the volatility to your advantage. The other big update came Friday, with the cooler-than-expected personal consumption expenditures (PCE) price index, the Federal Reserve's favorite inflation gauge. Headline November PCE showed a 2.4% increase versus the 2.5% gain expected. Core PCE, excluding volatile food and energy prices, rose 2.8% year over year versus the 2.9% increase expected. While still above the Fed's 2% target inflation rate, the PCE data was just what the oversold market needed, and it was off to the races, turning sharp premarket losses into a powerful Friday rally. Helping the market take another leg higher, Chicago Fed President Austan Goolsbee told CNBC in a Friday interview that "rates come down a fair bit more" if the economic conditions over the last 18 months continue over the next 12 to 18 months. Goolsbee's comments soothed a nervous market following Wednesday's hawkish remarks from Fed Chairman Jerome Powell in his post-meeting news conference. Not to mention, if rates do remain higher for longer, that's not exactly a bad thing as it almost certainly means that the economy is still growing, and we would much rather be in a market contending with high rates because the economy is strong than a market benefiting from low rates because the economy is struggling to avoid a recession. Looking ahead, it will be a light week with the stock market closing at 1 p.m. ET on Tuesday and closing all day on Wednesday for Christmas Day. That said, November new home sales are out Tuesday. Housing reports have been and will continue to be a key watch item for investors given that shelter cost inflation has proven extremely sticky and a key source of upward pressure on inflation, which is in turn keeping rates elevated. However, investors should take any positive update from Tuesday's report with a grain of salt. Mortgage rates rebounded following the Fed's rate announcement on Wednesday, and investors are going to be far more focused on figuring out what that means for home sales and affordability going forward than what's in this backward-looking release. Week ahead Monday, Dec. 23 Tuesday, Dec. 24 Wednesday, Dec. 25 Thursday, Dec. 26 Friday, Dec. 27 (See here for a full list of the stocks in Jim Cramer's Charitable TrusT.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
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Earlier in the year, the CBN gave Nigerian banks across various tiers directives to meet new capital base The bank capitalisation plan is seen by analysts as a timely economic growth stimulus for the industry Fidelity Bank, Access Holdings, GTCo and other banks have started making moves to increase their capital base CHECK OUT: Education is Your Right! Don’t Let Social Norms Hold You Back. Learn Online with LEGIT. Enroll Now! Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market. Since March 29, 2024, when the banking recapitalisation exercise was announced, some banks have raised money by going to the stock market. Analysts view the bank capitalisation initiative as a timely catalyst for economic growth, noting that capitalisation requires banks to hold sufficient funds as a buffer against financial downturns. Legit.ng has highlighted the banks that made moves to recapitalise in 2024 : PAY ATTENTION: Follow us on Instagram - get the most important news directly in your favourite app! Fidelity Bank Fidelity Bank surpassed the N127.1 billion target set in its combined offer programme, as the bank concludes the programme. Read also Naira scarcity: House of Reps take action as CBN, banks set cash withdrawal limit In an email to investors, the Managing Director of the Bank, Nneka Onyeali-Ikpe expressed appreciation, noting that the bank had surpassed the target set. The email read, “With the conclusion of the Combined Offer, I am delighted to announce that we have met and surpassed the capital-raise target we set for ourselves in the first phase of our capital-raise exercise. It is both gratifying and humbling to note this level of investor confidence in the bank.” Access Holdings Access Holdings Plc announced the commencement of its N351 billion capital raising through a rights issue, otherwise known as an offer for subscription. For the right issue, Access Holdings offered 17.772 billion ordinary shares of 50 kobo each to existing shareholders at N19.75 per share. The offer opened on Monday, July 8, 2024. GTCo Guaranty Trust Holding Company Plc (GTCO), recently revealed planned to raise nine billion ordinary shares of 50 kobo at an offer price of N44.50 per ordinary shares via public offer on the Nigerian Exchange Limited (NGX). Read also BDCs finally react as CBN allows members to buy $25,000 weekly from NAFEM This translated into N400 billion ordinary shares the Group planned to raise from investing public through public offer. Zenith Bank With the goal of raising over N290 billion, Zenith Bank Plc proposed a hybrid rights issue and subscription offer. This action represents a big step toward fulfilling the CBN's new N500 billion minimum capital requirement. In order to achieve this criterion, Zenith Bank needs roughly N229.225 billion, which includes N255.047 billion for the share premium and N15.698 billion in issued and fully paid share capital. FCMB In April, Mr. Ladi Balogun, the group’s CEO, disclosed plans to raise N150 billion between April and September 2024 as part of its recapitalization efforts. Mr. Balogun, on September 9th, expressed gratitude to the CBN , SEC, and NGX for their contributions to the capital raise, stating that these regulatory bodies played crucial roles in facilitating the process. Jaiz Bank Read also CBN takes another step to crash dollar, permits BDCs to buy forex from NAFEM After receiving regulatory clearances from the Securities and Exchange Commission (SEC), the Central Bank of Nigeria (CBN), and the Nigerian Exchange Group (NGX), Jaiz Bank announced that it had successfully listed N10.04 billion from its private placement on the NGX. According to a statement from the bank, this achievement puts it in the minority of banks that have already fulfilled the CBN's updated capital requirements before the June 2026 deadline. According to the bank, its balance sheet is resilient, diverse, and well-structured, indicating that its financial position is still strong. First Bank In an attempt to raise an additional N150 billion, FBN Holdings Plc launched a rights issue, issuing 5.983 billion ordinary shares at 50k each to current shareholders at N25 per share. A one-for-six ratio—one new ordinary share for every six shares held—was the basis for the offering. Sterling Bank Sterling Financial Holdings Company Plc announced the commencement of its N153 billion capital raising through a Rights Issue. This strategic initiative marks a significant milestone in its growth strategy, aimed at fortifying our financial foundation, enhancing capital adequacy, and fueling organic growth within its banking subsidiaries. Read also FG speaks on next step after MRS, TotalEnergies, others emerged winners of oil well The Company has obtained the approval the Securities and Exchange Commission (‘the Commission’) to execute a Rights Issue of Rights Issue of 7,197,604,531 Ordinary Shares of 50 kobo each at N4.00 per share, On the basis of One (1) new ordinary share for every Four (4) ordinary shares held as of 6th August 2024. CBN extends recapitalisation deadline for BDC operators Legit.ng reported that the Central Bank of Nigeria (CBN) has extended the deadline for the recapitalisation of Bureau of De Change (BDC) operators from December 3, 2024, to June 3, 2025. The president of the Association of Bureaux De Change Operators of Nigeria (ABCON), Aminu Gwadabe, stated this at a virtual emergency meeting by ABCON members. Gwadabe explained that the apex bank extended the deadline by six months due to operators' low compliance with the recapitalisation requirements. PAY ATTENTION: Сheck out news that is picked exactly for YOU ➡️ find the “Recommended for you” block on the home page and enjoy! Source: Legit.ngCiena Corp CIEN stock surged after BofA Securities upgraded it from Neutral to Buy and raised its price target from $70 to $95 . Needham analyst Ryan Koontz maintained Ciena with a Buy and raised the price target from $80 to $95. Additionally, Northland Capital Markets , and Stifel raised their respective price targets on the stock. On Thursday, Ciena reported a fiscal fourth-quarter 2024 revenue decline of 0.5% to $1.12 billion, beating the analyst estimate of $1.10 billion. The adjusted EPS of $0.54, missing the consensus estimate of $0.66. Also Read: Affirm Secures $4 Billion Loan Deal With Sixth Street to Boost BNPL Growth BofA Securities: Last quarter, Liani downgraded its rating to Neutral, noting that long-term growth opportunities were overshadowed by risks related to high implied second-half growth and valuation considerations. However, trends are turning out better than expected, with stabilizing demand at North American Service Providers (SPs) and Hyperscalers’ AI bandwidth needs driving accelerated order momentum. The 3-year outlook seems brighter than anticipated and modeled 9.5% fiscal 2025 revenue growth versus his prior 8% estimate. SP inventory digestion is primarily complete, orders are improving, and B2B of North American SPs was higher than 1 in the fourth quarter. With Cloud providers, AI deployments are driving demand for core networking applications, Data Center Interconnect (DCI) solutions, pluggable devices, and potential coherent optics penetration inside the data center by fiscal 2027. Management expects Hyperscalers to account for more than 30% of fiscal 2025 revenues, with another 10%- 15% of indirect exposure through Managed Optical Fiber Network (MOFN) and submarine applications. MOFN, currently 5% of revenue, is expected to grow significantly next year, driven by SPs building capacity to support Cloud providers. Lastly, Ciena is also growing its share of the optical networking market outside China, up from 22% in 2022 to 27% and 28% in 2023 and the first half of 2024, respectively. The company holds roughly a 60% share of the 800G coherent optical equipment ports, a market that will likely grow materially. Liani projected first-quarter revenue of $1.05 billion and EPS of $0.35. Needham: Ciena reported mixed fourth-quarter results, with revenue +2% above consensus and EPS -$0.11 below, but strong fiscal 2025 and long-term revenue guidance (+8%-11%) was above consensus. Fourth-quarter strength in Webscale benefited from share growth in 400ZR. However, a one-time E&O charge negatively impacted quarter margins, which Koontz found reasonable. Strong fiscal 2025 guidance also benefited from improving demand from North American SP. Strong execution paired with best-in-class technology and customer relationships should allow Ciena to continue to gain meaningful market share in its core TAM. However, Koontz needs to be bullish on its two new product segments. Koontz projected first-quarter revenue of $1.05 billion and EPS of $0.39. Price Action: CIEN stock is up 6.43% at $89.96 at the last check Friday. Also Read: Apple’s 2025 Chip Transition Targets New Wireless Edge, Broadcom To Retain Key Role Image via Ciena. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Gulf Times Reporter Receives 'Most Outstanding Kapampangan Award 2024'The Kosofe Chamber of Commerce & Industry hosted its highly anticipated President’s Dinner and Awards Night on Friday, December 20, 2024. The event drew an impressive gathering of dignitaries, including public officials and business leaders. The occasion celebrated the chamber’s achievements amidst economic challenges and honored key contributors to the region’s commerce and industry. The event held at the Fish Farm Ogudu, highlighting the chamber’s important role in promoting economic growth in the Kosofe region and beyond. The dinner began with opening remark from the Founder and President of the Kosofe Chamber of Commerce and Industry, Mr. Joe Femi-Dagunro. He extended gratitude to the attendees and continued by saying that “what drives us as a chamber is the impact we have on the local economy and SMEs. There is no doubt, the global economy has defied the known economics theories and is bringing the masses into a state of confusion in all spheres of life. Among the fundamental problems of the SMES are lack of funding and bad business structure.” Mr. Femi-Dagunro said. “However, today is not a day of lamentation. Starting next year, the chamber will conclude the registration of its multipurpose cooperative society that will enable its members to have access to loans at a single digit interest rate so that small business owners (SBOs) can grow their businesses and provides job opportunities. SBOs cannot depend on palliatives or grants alone” He once again pledged support for SBOs in the region and urge them to become members of the chamber in order to foster a more inclusive economy. The keynote address was delivered by Barrister Olatunde Adejuyigbe, a Senior Advocate of Nigeria. In his speech, Adejuyigbe highlighted the importance of the chamber ́s presence to business owners as he believes that it is a good collaboration approach. “A business owner that wishes to be successful ought to see the need to be part of a body like the Kosofe Chamber of Commerce, that offers a platform for collaboration.” He said. Barr. Adejuyigbe believes that standing together is an antidote to a seasoned business growth. He further explained that standing together is not limited to business owners alone but everyone who is affected in one way or another, he advised business owners to join forces by merging their businesses in order to prevent it folding up or going down the drain. Another notable remark came from the Permanent Secretary of the Lagos State Ministry of Commerce, Trade and Investment, Dr. Aina Olugbemiga. In his address, Dr. Olugbemiga, commended the Kosofe Chamber of Commerce for its distinguished contributions to the region. “The Kosofe Chamber of Commerce since its commencement has been a groundbreaker in promoting economic growth in this region.” Dr. Olugbemiga mentioned that it is the responsibility of the Lagos State Ministry of Commerce to ensure that more chambers are established in Lagos. Highpoint of the event was the presentation of awards to outstanding businesses, groups and individuals. Some of the categories included and not limited to; `Employer of the Year ́ award – Nosak Group, `Educator of the Year ́ award – Halvan Hill Schools, ‘Hospitality of the year ́ award – Fish farm, `Community Pharmacy of the Year ́ award – Pharm Affairs. Some of the dignitaries at the event included; Dr. & Mrs. Muda Yusuf, CEO, Centre for the Promotion of Private Enterprise, CPPE, Mr. Adeniji Abdulazeez, Assistant Comptroller of Immigration, Dame Olajumoke Simplice, Fmr. President West African Union of Tax Institute, Chief Oluruntele Oduloye, President Ikorodu Chamber of Commerce, Mrs. Dolapo Coker, Fmr. President Nigeria Institute of Food Science and Technology, Dr. & Dr. Mrs. Mike David, Mr. Kazeem Ugbodaga, Editor, PM Newspaper, Ms. Maureen Chigbo, Publisher/Editor, Realnews Magazine, Mr. Jide Aremo, Chairman, Supreme MfB, Mr. John Ologe, MD, Davodani MfB, Engr. & Mrs. Olatunji of Bristow Helicopters.
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