Edo govt partners Persianas Nigeria Limited on construction of Benin Mall

Events Reinsurance Scheme is one of the only insurance schemes in the world to cover such a wide array of live events and without putting a cap on costs claimed per event. The government has partnered with Lloyd’s Market Association to deliver the scheme as part of the Plan for Jobs. The scheme will see the government act as a ‘reinsurer’ – stepping in with a guarantee to make sure insurers can offer the products events companies need. Insurers Munich Re, Beazley, Arch, Dale, and Ark are carriers of the scheme with more firms coming on board in the weeks to come. The scheme will be available from 22 September 2021 and run until the end of September 2022. It comes on top of the extensive support already given to the cultural sector, including the £2 billion Culture Recovery Fund and the £500 million Film and TV Production Restart scheme. The latter has supported over 785 productions and more than 67,000 screen sector jobs in the last 12 months. Chancellor of the Exchequer Rishi Sunak said: The events sector supports hundreds of thousands of jobs across the country and as the economy reopens, we’re helping events providers and businesses plan with confidence right through to next year. It’s great to launch the scheme today, giving our fantastic events sector a boost, helping the economy, and protecting livelihoods through our Plan for Jobs. Culture Secretary Nadine Dorries said: The pandemic has been a unique challenge to live events, from gigs to business conferences. It’s a huge relief that so many are now back up and running, but it is crucial that they can also plan for the future with confidence and this scheme helps them do exactly that. With the sector contributing over £70 billion annually to our economy, it is right that we do all we can to support it and the talented people that work in it. Michael Hirst OBE - Chair, Events Industry Board said: The Live Events Reinsurance Scheme provides a much needed boost to event organisers to plan future events with greater confidence. Both business and leisure events are set to play a major role in the recovery of the UK economy and event organisers are eager to take advantage of growing demand and optimise business opportunities. This welcome initiative from Government will ensure the remaining schedule of events for 2021 and those planned for 2022 can go forward with greater certainty. Sheila Cameron, Chief Executive, Lloyd’s Market Association said: The live events reinsurance scheme demonstrates the innovative spirit for which the Lloyd’s market is globally renowned. The Lloyd’s Market Association, together with its insurer members, have worked collaboratively with HM government to ensure the live events sector has the confidence to re-open and create value for our economy. Lloyd’s syndicates remain resolute in designing creative solutions, such as the live events reinsurance scheme, that will give the events sector the confidence to realise its ambitions.

The Edo State Government, on Tuesday, entered an agreement with Persianas Nigeria Limited for the development and construction of a modern shopping centre in Benin City, the Edo State capital. The Edo State Governor, Mr. Godwin Obaseki, while addressing journalists after signing the partnership agreement for the Benin mall project, said the project is coming after twelve years of failed attempts. Obaseki said the goal of his administration is to ensure that Benin City has all the features of a modern smart city while stimulating the economy. According to him, “Our struggle to bring Shoprite or a major mall experience to Edo State has been on for more than a decade. There have been several attempts and one of the promises I made during my electioneering was that before leaving office, I was going to make Edo like modern cities in the world, making Edo people experience a retail shopping mall in the state.” He explained that the project is a public-private partnership and when completed, the government would sell its shares to Edo people. He noted: “We are very pleased and happy with our partners, Persianas. We thank the chairman, who built the first Shoprite in Nigeria. For our administration, it’s all about partnerships. This is what we call a classic public-private partnership between the government and the private sector. “We don’t intend to keep any interest. Once the mall is built, the government intends to sell its own interests to Edo people who are interested in being part-owners. Our role is to ensure and enable transactions like this to take place in the state.” He further stated: “We are bringing back industries and transactions of this nature to the state. We are stimulating investment into the state and when the businesses are set up, the government will withdraw because it has no business in running businesses. “Edo has a unique location, fertile land and lots of mineral resources. We are repositioning the state to attract investors to take advantage of these opportunities; we are making sure our investment climate is friendly, attractive and supportive.” Earlier, Chairman of Persianas Nigeria Limited, Mr. Tayo Amusan said, “We are excited to bring Shoprite to Edo State. We have the experience to do business in the state, as we have done JARA stores in conjunction with the Edo State Government.” Amusan expressed satisfaction with the developmental strides of the Obaseki