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Enugu gov’t seals multi-million dollar deal for entertainment, sports city with investors

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…Enugu safest state for living, investment – Gov. Mbah

The Enugu State Government has concluded a multi-million dollar agreement with Del-York Group to construct a state-of-the-art entertainment and sports park in the state.

Governor Peter Mbah, while signing the venture agreement with the investors over the weekend at the Government House, Enugu, said investors have started picking interest in the state in their numbers for businesses because his administration was able to work tirelessly to make Enugu the safest state for living, investment, sports and entertainment.

The landmark project, named “The 042 Arena and Entertainment Park”, which is a multi-purpose sports and entertainment hub, is a partnership initiative with Del-York International Group designed to focus on key areas of development, training, innovation, education, talent discovery, hospitality, entertainment among other areas of interests.

Addressing the governor and other key stakeholders, the Chief Executive Officer of Del-York, Linus Idahosa, said Enugu State was considered strategic for the launch of the project for various reasons, including its tourist attractions, the efforts of the state government in fostering growth and development of sports and entertainment industries in the south east zone which had already received global recognition.

“We feel that today is a very special day in the annals of Nigerian history for so many reasons such as the roles that Enugu State government and the South East have played in the development and growth of the creative industry and sports industry across the world. For His Excellency to have taken the initiative to begin a project of this kind that seeks to create an environment that will foster the growth and development of sports and entertainment industries for the Southeastern region is an incredible effort that deserves praise globally.

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“We are happy as a group to be in partnership with the state, and we are happy to be here to sign this joint venture agreement with the state for the sports and entertainment park we are to set up. We are also very thankful for the speed at which members of your cabinet have worked tirelessly round the clock in ensuring that we come to where we are today,” the Del-York CEO stressed.

He lauded the government for the support it was giving the group, saying the state had shown seriousness in making the state a hub of investment and attractive to investors, adding “I am sure that this marks a totally different trajectory for the development of the industry that we are here for. We believe that building on the strengths of placing the rich heritage of sports and entertainment within the state at the epicentre of its development strategy, the possibilities of the future are
limitless.”

On his part, Mr. Frank Pastorino, an EVP Development investor with Del-York Group, said the country, and Enugu State in particular, has extra-ordinary potential and wealth of opportunities specifically in areas of sports and creative industries which the rest of the world should pay special attention.

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Describing the sports and entertainment industries as phenomenal opportunities for youths, Pastorino harped on the importance of investing in the sectors in order to bridge the opportunities that have eluded young people in the space.

He added, “Critical investment in the area of sports development, sports discovery, training, conditioning; Nigeria, and Enugu, is the epicentre where the future of sports talent and development should lie. The opportunity here in the South-East region is extraordinary, and we are very pleased to be here. As investors, we work across professional sports, from soccer to a myriad of other sports, like tennis, and so forth”.

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An investor, who is the Chief Executive Officer of Phoenix Global Group Holdings, Larisa Miller, insisted that the sports and the entertainment sectors have a broader economic prospect with the right vision, plan and programmes which are what they are bringing to the state.

Responding, the governor said the deal only showed the triumph of the Enugu investment drive spirit, which his administration had set to achieve from the inception of the government.

He reiterated the government’s commitment to make the state the premier destination for investment by de-risking investment flow, assisting investors with the right environment through deliberate efforts in investing in infrastructure and security.

“As you already know, we are on a mission to make Enugu state the premier destination for investment, and the area of interests for us is quite diverse. We understand the associated benefits that could flow from developing sports and entertainment sectors.

“We also know that Enugu has always played very critical roles in those areas; in entertainment, we are proud to always say that this is where it all started. We are the harbinger of that whole industry. It all started here and it wasn’t by accident. I think our topography, our environment, and our people naturally lend themselves to making Enugu State as that destination for preferred entertainment,” he added.

Governor Mbah, who further assured investors of support and other intervention from the state government, called on all stakeholders and other investors to see the state as the right place to set up their businesses as the administration had already identified and solved challenges usually faced by investors.

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The Sports Arena will have the following facilities on completion; training facilities, athlete housing, a physical therapy and sports medicine centre, a performance centre among others while the Entertainment Park will house facilities such as screening rooms, stages, amphitheaters; live, work and play facilities, among other numerous designs.

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The project is also expected to create thousands of jobs for the people of Enugu State and attract investors and a surge of tourists to the state. It will additionally provide a platform for the youth to showcase their talents, promoting sports and youth development in the state and the entire
South-East region.

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Peter Obi should be held responsible for anarchy arising from August 1 hunger protest – Presidency

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Bayo Onanuga
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Bayo Onanuga, a senior to President Bola Tinubu, has alleged that supporters Mr Peter Obi, former presidential candidate of the Labour Party, LP, are planning mayhem in Nigeria.

Onanuga claimed that the proposed nationwide protests were being planned by Obi’s supporters, whom he described as failed presidential candidate.

According to him, Obi should be held responsible for whatever crisis that would emanate from the action.

In a post on his X handle on Saturday, Onanuga said the proposed protest planners are also the same people who were instigated by the incarcerated IPOB leader, Nnamdi Kanu to launch the destructive ENDSARS protest in Nigeria in October 2020.

He wrote: “REVEALED: Peter Obi’s supporters are the people planning mayhem in Nigeria: Obi should be held responsible for anarchy

“Don’t be fooled: the malcontents planning to stage nationwide protests are supporters of Peter Obi, the failed presidential candidate of the Labour Party. And he should be held responsible for whatever crisis emanates from the action.

“The protest planners are also the same people who were instigated by IPOB leader Nnamdi Kanu to launch the destructive ENDSARS protest in Nigeria in October 2020. ENDSARS began as a genuine protest by youths against the Police Special Anti-Robbery Squad, notorious for its high-handedness. IPOB members planning to extricate the South East region from Nigeria infiltrated the protest and hijacked it for their own agenda. Lagos still bears the scar of the malicious destruction by IPOB elements until today.

“Two years after ENDSARS, the IPOB and the gullible innocents joined the Labour Party in 2022 to support Peter Obi, a sympathiser of their cause.

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They are the people spreading the hashtags ‘EndBadGovernance’, ‘Tinubu Must Go,’ and ‘Revolution2024’. They are not democrats but anarchists. They are attempting to call out our people via propaganda because their Messiah, Peter Obi, failed to win the Presidency in the 2023 election. As bad losers, they don’t have the patience to wait for another election in 2027; they would rather destabilise Nigeria by staging a civilian coup against President Bola Ahmed Tinubu.

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Two brothers drown in FCT River

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Two brothers drown in FCT River
•The river behind the village
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Two brothers, Joshua and Samson, have drowned in a river in Robukya community in Kwali Ward in Kuje Area Council of the FCT.

A relation of the deceased, Musa Abednego, who confirmed the incident to our reporter on Thursday, said it happened on Tuesday around 9am while they were crossing the river.

He said the brothers, Joshua and Samson, were between the ages of nine and 12 and that they were on their way to the farm when the incident happened.

He explained that the victims got drowned following a heavy rainfall which made the river to overflow.

He said, “Their father asked them to hold on after the rain subsided. Unfortunately, they left home to the farm without him knowing.”

Abednego said their corpses were recovered on Wednesday around 4pm through the help of some fishermen, adding they had been buried.

The spokeswoman of the FCT Police Command, SP Josephine Adeh, was yet to speak on the incident.                                              Daily Trust

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CBN intervenes in foreign exchange market

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CBN intervenes in foreign exchange market
Central Bank of Nigeria
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The Central Bank of Nigeria (CBN) has started selling foreign exchange on a regular basis through Authorised Dealer Banks and licensed Bureaux De Change (BDCs) as a response to the current fluctuations in the foreign exchange market.

These fluctuations are primarily caused by the demand pressure coming from corporate entities and the seasonal increase typical during the summer period.

By implementing regular sales of foreign exchange, the CBN aims to stabilise the market and ensure smoother transactions for both businesses and individuals involved in foreign exchange activities.

Director, Financial Markets Department of the CBN Dr Omolara Omotunde Duke in a statement on Friday night assured the public of the bank’s commitment to address the demand pressure and stabilize the foreign exchange market.

Highlighting recent transactions, the CBN disclosed that it sold a total sum of US$106,500,000.00 to 29 authorized dealer banks on Thursday, July 18 and Friday, July 19, 2024.

These transactions took place within an exchange rate range of N1,498.00/US$1 to N1,530.00/US$1. Additionally, the CBN purchased US$9,500,000 (Nine Million and Five Hundred Thousand Dollars) from four authorized dealer banks at rates between N1,510.00/US$1 and N1,550.00/US$1. All these transactions are marked for settlement on July 19, 2024.

The Central Bank also stated its commitment to closely monitor compliance with existing trading rules and regulations by authorized dealer banks. This is seen as an effort to promote ethical conduct and ensure stability in the foreign exchange market.

The general public was also advised to direct their foreign exchange demands to their respective banks and BDC operators, adhering to prevailing market regulations.

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With the regular sale of foreign exchange and ongoing monitoring of trading practices, the CBN aims to meet demand pressure, foster stability, and sustain a well-functioning foreign exchange market.

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