Vice President Kashim Shettima has successfully attracted $119 million in investment commitments from Swedish business leaders during a visit to Stockholm aimed at boosting Nigeria’s economy. Addressing investors, Shettima highlighted Nigeria’s favorable investment climate, citing reforms such as the unification of exchange rates and the removal of fuel subsidies, which are part of the government’s Renewed Hope Agenda.

Shettima encouraged Swedish companies to explore opportunities in Nigeria’s agriculture, digital economy, and renewable energy sectors, emphasizing the country’s youthful population as a key driver of growth.

Key commitments included a $100 million investment from Gluwa to train 30,000 Nigerians in digital skills, and a $19 million tech hub from Ericsson to develop local tech talent. Both investments reflect Nigeria’s potential as a digital and technological hub.

Telecommunications company Globacom has announced its sponsorship of the 2024 Ofala Festival, celebrated annually in Onitsha, Anambra State. The festival is a significant cultural event in the southeastern region of Nigeria.

In a press statement released in Lagos on Wednesday, Globacom disclosed that the festival will kick off with Iru Ofala, the first day of the celebrations, on Friday at the Ime Obi, the palace of the traditional ruler, Igwe Alfred Nnaemeka Achebe. The second day, Azu Ofala, is scheduled for Saturday, October 19.

Additionally, a Royal Banquet organized by Globacom will be held in honor of Igwe Achebe at the Ime Obi on Wednesday, October 23.

The Ofala Festival is the largest traditional celebration in the Southeast, where the monarch fulfills cultural obligations and celebrates his annual emergence from seclusion, during which he negotiates the kingdom’s fortunes.

This year’s theme, “Courage, Perseverance, and Self-Reliance” (Onye kwe, Chi’e), reflects the traditional ruler’s message of hope and resilience amid prevailing hardships in the country.

Globacom expressed pride in partnering with the Ofala Steering Committee, stating, “The Ofala is a celebration of our nation’s diversity and resilience, and we are honored to be a part of it.” This collaboration aims to showcase Nigeria’s rich cultural heritage and promote the festival as a significant event in the country’s calendar.

Polaris Bank has expanded its nationwide tree-planting initiative in collaboration with the Nigerian Conservation Foundation (NCF) to additional states. The latest exercise took place at Government Secondary School, Gwagwalada, in the Federal Capital Territory (FCT) on October 14, 2024, following a similar event at Chukwuemeka Odumegwu Ojukwu University in Anambra State just days earlier. Professor K.K. Nwozor commended the bank for its conservation efforts.

This initiative aligns with the United Nations Decade on Ecosystem Restoration (2021–2030), emphasizing the urgent need for land restoration and resilience against desertification and drought. The theme resonates with the 2024 World Environment Day, highlighting the bank’s proactive stance in promoting sustainable practices aimed at restoring degraded lands and enhancing biodiversity across Nigeria.

Osazuwa Igbinoba, Directorate Head for Abuja, articulated the bank’s ethos, stating, “Sustainability is embedded in our business strategy and actions at Polaris Bank.” He noted that the tree-planting efforts not only aim to restore natural ecosystems but also focus on planting economic trees to ensure a sustainable environment for future generations.

Chiwetalu Nwatu, Directorate Head for the South East, echoed this sentiment, emphasizing that sustainability is at the heart of the bank’s operations. He noted that Polaris Bank’s approach integrates responsible banking with societal empowerment and environmental responsibility, all grounded in Environmental, Social, and Governance (ESG) principles.

The significance of tree planting as a countermeasure against climate change cannot be overstated. The initiative addresses critical issues such as soil erosion, air quality improvement, and climate regulation through carbon dioxide absorption. The bank’s efforts are part of a nationwide campaign that has seen similar initiatives executed at various educational institutions and community reserves across Nigeria.

Recently, tree planting exercises were also held at Tai Solarin University, Ijebu Ode in Ogun State on July 1st; Ajingi Community Reserve, Kunkurawa in Kano State on August 30th; and the University of Ibadan, Oyo State on October 3rd. These events illustrate Polaris Bank’s commitment to sustainable development and environmental restoration.

The project not only enhances local ecosystems but also serves as a public call to action on the importance of environmental preservation. Through collaborative efforts like these, Polaris Bank seeks to inspire individuals, communities, and organizations to engage in environmental restoration and contribute to a sustainable future for all.

Polaris Bank, in collaboration with the NCF, remains steadfast in its commitment to environmental stewardship, community well-being, and corporate responsibility, as demonstrated through these impactful tree-planting activities. Through this project, the bank aims to foster a culture of sustainability throughout Nigeria.