Business

South-East Private Sector Leaders Committed to Regional Investments

Among those leading this initiative are Dr. Cosmas Maduka, President/CEO of Coscharis Group; Mr. Johnson Chukwu, Managing Director/CEO of Cowry Assets Management Ltd.; Etemore Glover, CEO of Impact Investors Foundation; and Prof. Franklin Ngwu, Director of Lagos Business School.

Published

2 years ago

January 14, 2025

OCHEFA

552 Views

On October 3, 2024, the Enugu Fashion Hub cluster was inaugurated by Vice President Kashim Shettima, marking a significant step towards enhancing economic development in the South-East region.

In a concerted effort to elevate the region’s economy, prominent private sector leaders and entrepreneurs have united to initiate business ventures that will foster regional transformation.

During a recent meeting focused on the fourth-quarter economic outlook for the region, these leaders agreed on the need to establish a comprehensive roadmap for economic development.

This strategy will address challenges related to security and governance while promoting private-sector-led initiatives.

The discussions also encompassed ways to engage citizens of the region living in the diaspora, both locally and internationally, in investment opportunities within the area.

Additionally, the establishment of an Eastern Economic Summit was proposed as a dedicated platform for advancing regional development and advocacy.

Prof. Ngwu, who facilitated the session, emphasized the significant developmental needs of the region despite its vast human capital and material resources that remain largely untapped.

He pointed out that the initiative is crucial at this juncture, particularly given the various distractions faced by governments at all levels in the region.

This commitment to collaboration among private sector stakeholders signifies a proactive approach to unlocking the region’s potential and fostering sustainable growth.

Related Topics:Featured South East economy South-East Regional development

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Business

Naira Exchange Rates Monday, 20 July

Published

16 hours ago

July 20, 2026

OCHEFA

20 Views

BLACK MARKET RATES

US DOLLAR (USD) Buy ₦1, 416 Sell ₦1,422

GREAT BRITISH POUND (GBP) Buy ₦1,895 Sell: ₦1,915

EURO (EUR) Buy ₦1,590 Sell ₦1,610

CANADIAN DOLLAR (CAD) Buy ₦1,020 Sell ₦1,080

SOUTH AFRICAN RAND (ZAR) Buy ₦75 Sell ₦90

UAE DIRHAM Buy ₦350 Sell ₦370 CHINESE YUAN Buy ₦190 Sell ₦205

GHANA CEDI (GHS) Buy ₦95 Sell ₦110

WEST AFRICAN CFA Buy ₦2, 300 Sell ₦2, 400

CENTRAL AFRICAN CFA Buy ₦2,150 Sell 2,250

AUSTRALIAN DOLLAR Buy ₦800 Sell ₦900

CBN OFFICIAL EXCHANGE RATES

US DOLLAR (USD) ₦1,380.18

GREAT BRITISH POUND (GBP) ₦1,854.42

EURO (EUR) ₦1,577.00

SWISS FRANC (CHF) ₦1,707.94

JAPANESE YEN (JPN) ₦8.50

CHINESE YUAN (CNY) ₦203.57

WEST AFRICAN CFA (XOF) ₦2.40

WEST AFRICAN UNIT ACCOUNT (WAUA) ₦1,874. 32

SAUDI RIYAL (SAR) ₦367.48

SOUTH AFRICAN RAND (ZAR) ₦83.29

Business

BUA Foods target expansion into noodles industry

Rabiu described the expansion programme as a strategic investment in Nigeria’s industrial future, emphasising that the company’s growth ambitions are driven by a commitment to national development rather than scale alone.

Published

4 days ago

July 17, 2026

OCHEFA

58 Views

Chairman of the Board of Directors of BUA Group, Abdul Samad Rabiu disclosed that it’s food arm – BUA Foods is going into new sectors such as instant noodles because “we see it as a very important sector because of its affordability and its accessibility.”

Rabiu made the disclosure in Abuja on Thursday during the 5th Annual General Meeting of BUA Foods.

He also disclosed that as part of efforts to boost food sufficiency, “we are doubling our wheat milling capacity from over a million to over two million, wheat per annum. And that is huge.”

“We are also tripling the capacity of our edible oil business. In fact, we are setting up a brand new oil mill in Port Harcourt.

“Our ambition has never been to become bigger simply for the sake of size. We are building scale because Nigeria needs strong indigenous companies capable of competing at the highest level, investing for the long term and creating lasting value,” he said.