Phillips Oduoza says Nigeria Ready to Host World Economic Forum(WEF) on Africa

As Nigeria prepares to host the 24^th edition of the World Economic Forum (WEF) on Africa in May this year, Phillips Oduoza, Group Managing Director/CEO, United Bank for Africa Plc (UBA), has said Nigeria is ready and prepared to host the world in Abuja. The WEF is the world’s largest and most exclusive annual gathering of top businessmen, women, institutions and government. Nigeria will be hosting the WEF for the first time.   

President Goodluck Jonathan, Chairman, Heirs Holdings, Mr. Tony Elumelu; and GMD/CEO, UBA Plc, Mr. Phillips Oduoza, at the World Economic Forum, in Davos, Switzerland. 

 The 24th World Economic Forum on Africa will bring together regional and global leaders to discuss innovative structural reforms and investments that can sustain the continent’s growth while creating jobs and prosperity for all its citizens.

Oduoza said the hosting will provide Nigeria an opportunity to showcase opportunities and developments in the field of Agriculture, Telecommunications, Power, Oil and Gas, Mining, Manufacturing and several other sectors.  

Oduoza spoke of Nigeria’s preparedness during a discussion on CNBC Africa, on the sidelines of the World Economic Forum (WEF) holding in Davos, Switzerland, which he is currently attending. Also attending the Davos meeting is President Goodluck Jonathan, and former Mr. Tony Elumelu, Afrocapitalism advocate and former Group Managing Director/CEO of UBA Plc. Other top businessmen from Nigeria are also attending the WEF at Davos.  

“This is an interesting time for Africa with new oil and gas discoveries in different parts of the continent. These discoveries present exciting opportunities for the financial sector.” He said.

Specifically, he described a planned Oil and Gas Pipeline Infrastructure project across Africa by Oando Plc, sub-Saharan Africa’s leading integrated energy group, as “audacious and imaginative solution to the region’s energy challenges.”

Also speaking on the programme, Wale Tinubu, Group Chief Executive of Oando Plc, said his company has pioneered the building of distribution pipelines with the support of Nigerian banks, especially UBA Plc. He said Oando has been able to build an effective oil and gas distribution network across Nigeria, and plans to replicate this project across Africa upon securing the required regulatory approvals.  

The annual Davos gathering brings together hundreds of the world's most powerful people and heads of state and government to focus on questions about the world's future. The WEF, Africa takes place in Abuja, Nigeria, from May 7 – 9, 2014. 

Kindly watch the interview with Phillips Oduoza here.