Business
Participants Remember Trans-Atlantic Slave Trade Victims
The 2012 edition of the Badagry Festival began last Friday
at the Heritage Museum with the remembrance of victims of the Trans-Atlantic
Slave Trade.
Declaring the festival open, the Permanent Secretary,
Ministry of Tourism and Inter-Governmental Relations, Mr Sewanu Fadipe, who
represented Governor Babatunde Fashola of Lagos State and the Commissioner for
Tourism, Mr Oladisun Holloway, recounted Badagry’s losses to the slave trade.
“From my knowledge, the festival is built around the history
of Badagry and the slave trade experience of the 16th century to the 18th
century,” he said.
Fadipe, who called for a minute silence for the repose of
the souls of those slaves that died during slavery, said that the foundation of
Badagry was as a result of six centuries of the evil trade.
“Badagry has been affected by the slave trade since 1474
when the Portuguese came to buy our people, chained them and took them away
into cities like Spain, Cuba, Brazil and Columbia for hard labour,” he said.
He observed that though Badagry experienced pains from the
trade, blacks in the diaspora had been able to export its culture and heritage
tradition to the outside world.
“I saw Zangbeto masquerade in Brazil, while a place was
dedicated for the worship of Olokun too,” he said.
Also speaking at the event, High Chief Possu Awarawuru of
Badagry Kingdom, urged the people to shun foreign religion and embrace African
traditional religion and way of worship.
“Before Christianity and Islam came to Nigeria, our
forefathers worshipped Orisa and the society was peaceful,” he said, while
calling for cultural renaissance.
Our correspondent reports that the programme of events for
the festival includes cultural exhibitions, Zangbeto masquerade performance,
drama presentation, Gbenopo royal carnival and art exhibitions.
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Ministry of Marine and Blue Economy is seeking new funding to implement its ambitious 10-year policy, with officials acknowledging that public funding is insufficient for the scale of transformation envisioned.
Adegboyega Oyetola, said finance is the “lever that will attract long-term and progressive capital critical” and determine whether the ministry’s goals take off.
“Resources we currently receive from the national budget are grossly inadequate compared to the enormous responsibility before the ministry and sector,” he warned.
He described public funding not as charity but as “seed capital” that would unlock private investment adding that without it, Nigeria risks falling behind its neighbours while billions of naira continue to leak abroad through freight payments on foreign vessels.
He said “We have N24.6 trillion in pension assets, with 5 percent set aside for sustainability, including blue and green bonds,” he told stakeholders. “Each time green bonds have been issued, they have been oversubscribed. The money is there. The question is, how do you then get this money?”
The NGX reckons that once incorporated into the national budget, the Debt Management Office could issue the bonds, attracting both domestic pension funds and international investors.
Yet even as officials push for creative financing, Oloruntola stressed that the first step remains legislative.
“Even the most innovative financial tools and private investments require a solid public funding base to thrive.
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