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SENATE APPROVES BILL TO STRENGTHEN NDIC AND ENHANCE DEPOSITOR PROTECTION

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The Senate has passed a bill aimed at bolstering the Nigeria Deposit Insurance Corporation (NDIC), enhancing its capacity to protect depositors’ funds and ensure stability within financial institutions. This legislation is expected to promote confidence in Nigeria’s banking sector.

The approved bill grants the President the exclusive authority to appoint the Managing Director and Executive Directors of the NDIC, streamlining the appointment process by eliminating the requirement for recommendations from the Central Bank of Nigeria (CBN) Governor. While the CBN will retain its supervisory role over the corporation, the NDIC will benefit from increased autonomy.

Titled the “Nigeria Deposit Insurance Corporation Act No 33 of 2023,” the bill was sponsored by Senator Mukhail Adetokunbo Abiru from Lagos East and co-sponsored by 40 Senate members from the Committee on Banking, Insurance, and Other Financial Institutions.

Senator Abiru emphasized that the bill aligns the NDIC with current financial realities and best practices. It also introduces provisions for interim management, allowing the Minister of Finance to establish a temporary committee if a new board is not appointed within 30 days of a previous board’s term expiration.

“The NDIC Amendment Bill, 2024, is a vital piece of legislation aimed at strengthening Nigeria’s financial system,” Abiru remarked. He noted that the amendments are a critical response to evolving financial challenges, aiming to empower the NDIC to better protect depositors and foster trust in financial institutions.

Additionally, the legislation removes the provision that designated the Permanent Secretary of the Ministry of Finance as the NDIC Board Chairman, acknowledging the demands of that position.

Abiru highlighted a consensus among stakeholders regarding the need to update the NDIC’s framework to address contemporary challenges, ensuring it remains effective in its essential role in the financial sector. The bill received significant support, with over 30 written memoranda and multiple oral submissions during Senate hearings.

“This amendment ensures the NDIC can carry out its mandate of protecting depositors and stabilizing the financial system,” Abiru stated, calling it a positive step forward for Nigeria’s banking sector and overall economic growth.

DANGOTE REFINERY REVEALS 500 MILLION LITRES OF PETROL STOCK, MARKETERS SURPRISED

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Nigerian oil marketers were taken aback by comments from Aliko Dangote, Chairman of Dangote Refinery, who disclosed that the facility holds a stockpile of approximately 500 million litres of petrol available for sale and distribution to retailers.

Dangote made this announcement during a meeting of the Implementation Committee on Crude Oil and Refined Products Sales in Naira, convened by President Bola Tinubu at the State House on Tuesday. He stated, “I assured Mr. President, we will be able to supply the market a minimum of 30 million litres per day, and we’ll be ramping up as we go on. So, we’re ready. We’re more than ready.”

He urged retailers to come forward and load their products, emphasizing that either the NNPCL or the marketers should cease importing fuel and instead purchase from his refinery. “I don’t know whether you understand what it takes to have 500 million litres inside our tank. It’s costing me money every day,” Dangote explained. He expressed that if retailers collected the petrol, there would be no queues at filling stations.

However, in response to Dangote’s announcement, a CEO of a prominent oil marketing firm, who requested anonymity, expressed skepticism. “It is not just a surprise, but also intriguing that the management of the refinery finds it convenient to disclose a huge stock of fuel to the Presidential team and not to the marketers who are to patronize the refinery,” the CEO said.

The executive also pointed out the contradiction in Dangote’s claim, noting that the refinery had previously communicated to marketers about purchasing based on allocated quantities. “If such huge stock is available, why ration what marketers can buy?” he questioned, highlighting concerns over transparency and communication within the oil supply chain.

RUBEN AMORIM COMMENTS ON MAN UTD INTEREST AMID TEN HAG SACKING

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Ruben Amorim stated on Tuesday that “nothing is decided yet” regarding his potential move to Manchester United, who have reportedly made the Sporting Lisbon coach their top target following the sacking of Erik ten Hag.

United ended Ten Hag’s two-year tenure on Monday after a disappointing 2-1 defeat to West Ham, which left the club languishing in 14th place in the Premier League. Amorim quickly emerged as the leading candidate for the role, especially after a statement from Sporting indicated that United was willing to pay his 10 million euro (£8.3 million, $10.8 million) release clause.

Following Sporting’s League Cup victory against Nacional on Tuesday night, Amorim was cautious when asked if that match might have been his last with the Portuguese club. “Nobody knows whether this was my farewell match. Nothing is decided yet,” he said, according to the sports daily A Bola.

Despite substantial summer spending in the transfer market, United have struggled, winning just one of their last eight games across all competitions. In the interim, former United striker Ruud van Nistelrooy has been appointed as the acting manager, but the focus seems to be on securing Amorim, recognized as one of Europe’s top young coaches. Since joining Sporting in March 2020, he has led the team to two Portuguese league titles.

Earlier in the week, Amorim had downplayed the speculation about his future, saying, “I’m not going to talk about my future. I’m very proud to be the coach of Sporting Lisbon.”

In light of the ongoing discussions, Brighton’s Fabian Hurzeler, a young manager making strides in the Premier League, shared insights on what advice he would offer Amorim should he decide to leave Portugal for Old Trafford.

FEDERAL GOVERNMENT DEFENDS TOLL GATES ON ABUJA-KEFFI-MAKURDI EXPRESSWAY

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The Federal Government has confirmed that the four toll gates along the 260km Abuja-Keffi-Makurdi expressway comply with the requirements set by the Infrastructure Concession Regulatory Commission (ICRC).

Minister of Works, David Umahi, addressed concerns raised by commuters regarding the tolls, stating that the law establishing the ICRC outlines both minimum and maximum requirements for tolling roads under concession agreements.

Although the toll gates are not yet operational, commuters have expressed worries that having four toll payment points on a 260km stretch could be burdensome. However, they have also praised the federal government for the timely completion of the expressway project.

Umahi explained, “The total length of that road is 260 kilometres, and it is dualised, which means you are talking about 520 kilometres, and I don’t think that we have more than four toll gates on that road.”

He reassured that the government has adhered to the legal framework regarding tolling and mentioned the establishment of a committee focused on implementing a cashless toll collection system. This committee will meet with the minister next week to discuss ways to assist those who may have difficulty with electronic payment systems, particularly individuals who may struggle with technology.

The minister noted, “We are trying to ensure that we carry such people along.”

Earlier, on October 17, Umahi inaugurated a committee tasked with the implementation of the cashless tolling system under the Highway Development and Management Initiative. This initiative aims to create a sustainable transportation ecosystem, with committee responsibilities including designing the cashless system and establishing relief stations equipped with essential services like supermarkets, clinics, and security outposts along the highway.

Umahi emphasized the commitment to safety, stating, “Within 10 minutes of any incident along the route, security people will be able to respond.”

FEDERAL HIGH COURT BARS RELEASE OF MONTHLY ALLOCATIONS TO RIVERS STATE

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The Federal High Court sitting in Abuja has barred the Federal Government from releasing further monthly allocations to Rivers State.

Justice Joyce Abdulmalik delivered the judgment on Wednesday, specifically restraining the Central Bank of Nigeria (CBN) from allowing the state to draw funds from the consolidated revenue account.

The ruling followed a suit marked: FHC/ABJ/CS/984/24, brought before the court by the Hon. Martins Amaewhule-led faction of the Rivers State House of Assembly.

Cited as defendants in the matter were the Central Bank of Nigeria, Zenith Bank Plc, Access Bank Plc, and the Accountant-General of the Federation (AGF). Others included Governor Siminalayi Fubara, the Accountant-General of Rivers, the Rivers Independent Electoral Commission (RSIEC), Chief Judge of Rivers, Hon. Justice S.C. Amadi, Chairman of RSIEC, Hon. Justice Adolphus Enebeli (rtd.), and the Government of Rivers State.

The plaintiffs sought the court’s intervention to withhold all federal monthly allocations meant for Rivers State. They based their case on the grounds that Governor Fubara had yet to comply with a court order directing him to present the 2024 Appropriation Bill to the Amaewhule-led faction of the Rivers State House of Assembly.

According to the plaintiffs, the high court had previously recognized Hon. Amaewhule as the authentic Speaker of the Rivers State House of Assembly in a ruling delivered by Justice James Omotosho. They noted that the court invalidated the 2024 budget proposal presented before a four-member faction of the Assembly led by Hon. Victor Oko-Jumbo.

FORMER SDP DEPUTY GOVERNORSHIP CANDIDATE SUSAN GBEMISOLA ALABI JOINS APC

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The former deputy governorship candidate of the Social Democratic Party (SDP) in Ondo State, Mrs. Susan Gbemisola Alabi, has officially joined the ruling All Progressives Congress (APC).

Mrs. Alabi’s resignation from the SDP stemmed from irreconcilable differences with the party’s governorship candidate, Otunba Bamidele Akingboye.

Governor Lucky Aiyedatiwa, the APC candidate in the upcoming November 16 governorship election, welcomed Alabi into the party during his campaign tour of Akoko North West Local Government Area.

In his remarks, Aiyedatiwa emphasized that the 2025 budget would focus on development across all parts of Ondo State, ensuring no region is left behind. “The 2025 budget will be well-structured to guarantee that every area of Ondo State benefits from development initiatives,” he stated, adding that improvements in infrastructure and services would soon reach the Akoko North West area.

Aiyedatiwa expressed gratitude to the local monarchs for their support during the APC primaries and their renewed endorsement ahead of the election. The Owa of Ogbagi, Oba Olasehinde Ojo Adetona, spoke on behalf of 27 traditional rulers in the area, pledging their unwavering support and assuring the governor of strong voter turnout for the APC due to their trust in his leadership.

While addressing party supporters in Oke Irun, Aiyedatiwa underscored the importance of unity and active participation to ensure victory for the APC in the upcoming election. He pointed out that his campaign route through major areas in the local government was intentional, allowing him to gain firsthand insights into the communities’ challenges.

“By personally visiting these communities, I can see their needs directly, allowing me to respond quickly and ensure that no issue affecting your communities is overlooked,” Aiyedatiwa stated.

He further assured residents that concerns raised during the tour would be taken into account in future planning, with a focus on enhancing the quality of life across the state. The atmosphere was celebratory in Oke Agbe, the local government headquarters, where Governor Aiyedatiwa reaffirmed his administration’s commitment to critical areas, including security, infrastructure, and agriculture.

AMOTEKUN DETAIN 20-YEAR-OLD FOR KILLING 65-YEAR-OLD WOMAN OVER N3,000

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The Ondo State security outfit, Amotekun, has detained Akinmade Friday, a 20-year-old suspect, for allegedly killing a 65-year-old woman over a sum of N3,000.

Reports indicate that Friday attacked the elderly woman with a wooden plank, accusing her of entering his room and stealing the money. In his statement to the police, Friday admitted, “I took a plank and hit her on the head twice,” although he claimed he did not intend to kill her. Unfortunately, the woman later succumbed to her injuries.

Amotekun Commander, Chief Adetunji Adeleye, briefed reporters on the arrest, highlighting that Friday’s detainment was part of a larger operation that led to the arrest of 27 suspects for various crimes across Ondo State. Among those arrested was a 21-year-old man facing attempted murder charges and a 30-year-old involved in multiple offenses, including cultism and assault on law enforcement officers.

Adeleye pointed out that the current economic situation is contributing to a rise in crimes such as housebreaking, theft, and violent offenses. Other individuals apprehended included a 20-year-old linked to motorcycle theft and a group of young men aged 22-25 suspected of burglary and property damage.

Addressing the overall security situation, Adeleye assured Ondo residents of continued security efforts, stating, “The Ondo State Security Network Agency will continue to engage criminals… to ensure people can sleep with their two eyes closed.” He emphasized that most local government areas remain peaceful, with only minor exceptions at border areas where some kidnapping cases have been reported.

NCAA CLARIFIES AIRWORTHINESS OF CRASHED HELICOPTER IN PORT HARCOURT

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The Nigerian Civil Aviation Authority (NCAA) has clarified misinformation regarding the airworthiness of a helicopter that crashed in Port Harcourt last Friday. In a statement, Acting Director-General Captain Chris Najomo responded to reports from an online outlet, stating that the helicopter in question had never been scrapped.

The NCAA addressed a report by Sahara Reporters that suggested the helicopter, registered as 5N-BQG, was previously deregistered and presumed scrapped. The NCAA refuted these claims, providing detailed records to clarify the situation. Captain Najomo noted that aircraft can be tracked not only by registration marks but also by their Manufacturer Serial Number (MSN). For instance, the helicopter 5N-BQG has an MSN of 760486, while the previously mentioned 5N-BGN has an MSN of 760468.

The NCAA provided a timeline for both helicopters. The 5N-BGN was registered with Aero Contractors in 2004 and later deregistered to Transport Canada in 2009. The 5N-BQG, on the other hand, was registered on December 10, 2012, with Nestoil Plc as the operator and owner. It underwent ownership changes and re-registrations in subsequent years, with the latest ownership recorded in May 2022.

The NCAA’s statement aims to set the record straight and assure the public of the helicopter’s airworthiness prior to the crash.

Top Nigerian Footballers in Ballon d’Or Rankings

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While the Ballon d’Or has predominantly featured European and South American players, Nigerian footballers have also made remarkable strides, showcasing the country’s rich talent in the sport. Here’s a look at the top five Nigerian players who have achieved notable rankings over the years:

1. Victor Osimhen

Victor Osimhen made headlines with his phenomenal performance at Napoli, securing the eighth spot in the 2023 Ballon d’Or rankings. His exceptional season, which included 31 goals and five assists, played a pivotal role in leading Napoli to their first Serie A championship in 33 years. His combination of speed, skill, and finishing ability has earned him recognition as one of the top strikers globally. Additionally, he was honored as the African Player of the Year.

2. Nwankwo Kanu

A legend in Nigerian football, Nwankwo Kanu finished 11th in the 1996 Ballon d’Or rankings, coinciding with Nigeria’s victory in the Olympic Games in Atlanta. Known for his crucial contributions at clubs like Ajax and Arsenal, Kanu became one of Africa’s most recognized footballers, renowned for his flair and ability to perform in high-stakes matches.

3. Ademola Lookman

Ademola Lookman has emerged as a notable name in Nigerian football, achieving an impressive 14th-place ranking in the 2024 Ballon d’Or rankings. His standout performances, including pivotal contributions at the Africa Cup of Nations, where he helped Nigeria reach the final, and a hat-trick in the Europa League final, have further solidified his place among the country’s football elite.

4. Jay-Jay Okocha

While not specifically mentioned in the context of recent rankings, Jay-Jay Okocha remains an iconic figure in Nigerian football history. His dazzling skills and creativity on the ball made him a fan favorite and one of the most celebrated African players during his career.

5. Samuel Eto’o

Though Eto’o is primarily associated with Cameroon, his success in Nigerian football circles and his impact in Africa is often discussed. He is frequently mentioned alongside top African talents and has been a source of inspiration for many Nigerian players.

These players highlight Nigeria’s rich football heritage and the country’s growing influence on the global stage, proving that Nigerian talent can shine in prestigious competitions like the Ballon d’Or.

Today in the News: Nigerian Newspapers Headlines Review

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Vanguard

  1. Petrol Price Increase: The report highlights that Nigeria has experienced its third petrol price increase in just 60 days, leading to a subsequent rise in crude oil prices. This trend raises concerns about the impact on the economy and everyday life for citizens.
  2. NASU and SSANU Strike: The National Association of Academic Technologists (NASU) and the Senior Staff Association of Nigerian Universities (SSANU) are reportedly on strike due to the Federal Government’s failure to engage in discussions about their terms. The ongoing strike raises alarms about disruptions in academic activities across various institutions.
  3. Bandits Attack in Niger State: The Vanguard also reports on a distressing incident where insurgents attacked a military camp in Niger State, highlighting the ongoing security challenges facing the region.

The Nation

  • Dangote Refinery’s Position: The Dangote refinery has called on the Nigerian National Petroleum Corporation Limited (NNPCL) and fuel marketers not to import petrol, asserting that their facilities can adequately supply local demands. This statement underscores the refinery’s potential impact on Nigeria’s fuel supply dynamics.

The Guardian

  • Dependence on Federal Government: The Guardian reveals that 34 states in Nigeria are heavily reliant on the Federal Government to fund their operational expenses. This dependence poses questions about financial sustainability and autonomy for these states.

The Punch

  • Power Supply Commitment: The Federal Government has expressed its commitment to resolve power supply deficiencies in 17 Northern states before November 12. This promise is crucial for improving energy access and economic activities in these regions.

Israel Vows Strong Retaliation Against Iran Amid Rising Tensions

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Lieutenant General Herzi Halevi, Israel’s military chief, has issued a stark warning to Iran, promising a powerful response if Tehran retaliates against Israeli airstrikes conducted over the weekend.

“If Iran makes the mistake of launching another missile barrage at Israel, we will once again know how to reach Iran… and strike very, very hard,” Halevi stated during an address to military personnel involved in the recent operations. He indicated that specific targets have been earmarked for potential future strikes, emphasizing the ongoing nature of the conflict, saying, “This event is not over; we are still in the midst of it.”

Recent Developments

Israeli fighter jets executed pre-dawn airstrikes against Iranian military installations and missile production facilities, a direct response to a significant missile attack launched by Iran earlier in the month. This missile barrage, involving approximately 200 missiles, was reportedly in retaliation for the deaths of several Tehran-aligned militant leaders, including Hezbollah chief Hassan Nasrallah and a commander from the Revolutionary Guards.

Iran confirmed that Israeli strikes targeted military sites in Tehran and other locations but claimed the damage was “limited.” In a post on X (formerly Twitter), Iran’s supreme leader, Ayatollah Ali Khamenei, characterized the Israeli attack as a “miscalculation,” calling for it not to be exaggerated or minimized.

Historical Context

This missile barrage marks the second direct attack by Iran on Israel, following a similar incident in April, which led to further retaliatory actions from Israel. The escalating tension between the two nations reflects a broader regional conflict involving multiple factions and interests, highlighting the delicate balance of power in the Middle East.

As both nations remain on high alert, the international community watches closely, concerned about the potential for a broader conflict that could have significant implications for regional stability.

Federal Government Unveils Strategic Plan to Transform Nigeria’s Agriculture with French Support

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In a significant initiative aimed at reshaping Nigeria’s agricultural landscape, the Federal Government, with support from the French Development Agency (AFD), has unveiled a comprehensive strategic plan. This plan is designed to bolster agricultural productivity, enhance food security, and improve the livelihoods of Nigerian farmers.

Key Features of the Strategic Plan

The strategic plan, developed with funding from AFD and expertise from the consulting firm Semaris, was formally presented to Dr. Aliyu Abdullahi, Minister of State for Agriculture, during a handover ceremony in Abuja. The event was attended by notable figures, including AFD Country Director Xavier Muron, Semaris Representative Timothee Witkowski, and RAAMP National Coordinator Engr. Aminu Bodinga Mohammed.

Crafted in collaboration with the World Bank and other key stakeholders, this initiative aligns with President Bola Tinubu’s priority to secure the nation’s food systems. The strategy emphasizes strengthening agricultural infrastructure, improving market access, and enhancing food safety standards to support farmers and facilitate growth within the sector.

Focus on Key Agricultural Corridors

According to a statement issued by Amadi Vivian, Development Communication Officer, the plan highlights critical agricultural corridors, including Kano-Kaduna, Oyo-Lagos, and Onitsha-Port Harcourt. The strategy aims to improve hygiene standards, develop essential infrastructure, and establish a more favorable market environment for smallholder farmers.

The initiative targets these critical regions with the expectation of improving transportation efficiency, reducing post-harvest losses, and increasing access to major markets for local farmers. This approach is anticipated to contribute significantly to enhanced agricultural productivity and national food security.

Ministerial Commitment

Dr. Abdullahi expressed deep appreciation for the partnership with AFD and the World Bank, stating, “This strategy underscores our commitment to fostering a resilient agricultural economy that can sustainably support Nigeria’s food needs and raise farmer incomes. We look forward to the transformative changes this strategy will bring to our agricultural markets.”

Implementation Timeline

The implementation of the strategic plan is set to commence in the first quarter of 2025, marking a crucial step toward establishing a vibrant and sustainable agricultural future for Nigeria. Engr. Aminu Mohammed described the report as a practical roadmap aimed at improving the lives of both urban consumers and rural producers, adding, “The report presents a detailed blueprint for enhancing Nigeria’s food distribution network. It is more than a policy document.”

This strategic plan is poised to play a vital role in transforming Nigeria’s agricultural sector, fostering economic growth, and ensuring food security for its growing population.

TGI Group Highlights Role of Sustainable Collaborations in Nigeria’s Economic Development at UNGA

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Tropical General Investments (TGI) Group’s Vice Chairman, Farouk Gumel, underscored the importance of sustainable multilateral collaborations in fostering Nigeria’s economic growth during a side event at the 79th United Nations General Assembly (UNGA). Speaking at the US-Nigeria Executive Roundtable in New York, Gumel showcased TGI’s proven track record as a reliable partner for driving economic and social impact.

Engagement with International Stakeholders

As a special delegate representing Nigeria’s private sector alongside Vice President Kashim Shettima, Gumel engaged with key players from the international business community. He highlighted TGI’s strategic partnerships, particularly a $200 million facility from the United States International Development Finance Corporation (DFC) to Union Bank.

Hosted by the American Business Council Nigeria and the US Chamber of Commerce, the roundtable focused on high-level discussions regarding investment opportunities and partnerships that can propel Nigeria’s development agenda.

Emphasizing Strategic Partnerships

Gumel emphasized that TGI’s collaboration with DFC and other international partners exemplifies the transformative power of strategic partnerships in enhancing growth and inclusivity for Small and Medium-Sized Enterprises (SMEs) in Nigeria. He stated, “Our collaboration with the DFC has not only enhanced our operational capacity but also enabled us to channel resources effectively to the sectors that matter most. This partnership has been instrumental in promoting youth employment and entrepreneurship, which are critical drivers of Nigeria’s GDP growth.”

The DFC funding, channeled through the Overseas Private Investment Corporation (OPIC), aims to bolster TGI Group’s various strategic operations, including enhancing agricultural value chains and supporting SMEs. Gumel noted, “TGI has demonstrated commitment and accountability in utilizing these resources, adhering to global best practices.” He referenced OPIC’s $40 million facility that facilitated the growth of Chi Limited, which ultimately led to Coca-Cola’s $1 billion acquisition of the company.

Commitment to Agricultural Development

Through various initiatives, including a $10 million USAID-backed project with WACOT Rice, TGI has reinforced its commitment to Nigeria’s agricultural development. This project empowered local farmers and integrated them into the broader farming value chain, thereby promoting food security and economic stability.

Kendra Gaither, President of the U.S.-Africa Business Centre, delivered opening remarks that highlighted the investment and partnership opportunities in Nigeria. She noted that such collaborations are vital for fostering a stronger partnership between the U.S. and Nigerian counterparts. Gaither commended TGI and emphasized that the success of businesses, especially startups, could significantly accelerate economic growth and development. “The resilience in the innovation from the startup community continues to inspire and offers great prospects for economic growth and job creation for millions of youth,” she said.

Through initiatives like these, TGI Group continues to play a pivotal role in driving Nigeria’s economic development by leveraging sustainable partnerships and empowering local communities.

Baobab Nigeria Partners with AXA Mansard Health to Provide Free Health Insurance

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Baobab Nigeria, a financial institution dedicated to community empowerment, has announced a significant collaboration with AXA Mansard Health aimed at providing free health insurance coverage to low-income individuals across Nigeria. This partnership seeks to enhance healthcare access and improve the well-being of vulnerable populations.

Addressing Healthcare Barriers

Millions of Nigerians face substantial barriers to accessing healthcare, primarily due to financial constraints. Many individuals suffer from untreated or inadequately treated illnesses, leading to a diminished quality of life. Through this initiative, Baobab Nigeria aims to alleviate these challenges by offering health insurance coverage at no cost, enabling low-income families to prioritize their health without the burden of financial strain.

Leadership Insights

Eric Ntumba, acting CEO of Baobab Nigeria, emphasized the importance of healthcare access, stating, “We believe that access to healthcare is a crucial component of financial stability and overall well-being. This collaboration marks a significant step in our commitment to empowering low-income individuals in Nigeria, and we couldn’t have chosen a better partner for this initiative.”

Tope Adeniyi, CEO of AXA Mansard Health, echoed this sentiment, saying, “For us at AXA, we believe inclusive protection is crucial to sustainable well-being. We believe healthcare should be accessible, available, and affordable. Our partnership with Baobab Nigeria represents another significant leap in putting health insurance in the hands of everyone. Together, we are committed to empowering individuals and families, ensuring they receive the care they deserve, and fostering healthier futures for all.”

Launch and Future Plans

The initiative officially launched on October 23, 2024, with enrollment events planned in various communities across Nigeria, starting with Lagos. The goal is to reach 5,000 beneficiaries by 2026, significantly improving healthcare access for low-income families.

This partnership between Baobab Nigeria and AXA Mansard Health represents a proactive approach to tackling the healthcare accessibility crisis in Nigeria, ensuring that vulnerable populations receive the medical attention they need for a healthier future.

Empowering Women in Nigeria: A Call for Inclusion on Independence Day

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As Nigeria marked 64 years of independence, the Economic Community of West African States (ECOWAS) Woman & Youth Ambassador, Sonnia Agu, emphasized the crucial role women play in shaping the nation’s future. Speaking at the second Inter-Party Advisory Council (IPAC) policy roundtable in collaboration with the Westminster Foundation for Democracy (WFD), Agu highlighted the importance of inclusive democracy for national progress.

A Vision for Representation

With the theme, “64 years of independence, inclusive democracy, and options of special seats for women,” Agu recalled her experience in The Gambia in 2015, where legislation mandated that 30% of women and youths must be represented in governance. She envisioned a similar framework for Nigeria, suggesting that implementing such representation could address many pressing issues facing the nation.

Agu, who is also the founder and CEO of The Sapio Club and G1st International Foundation, stated, “Imagine if we have such a thing in Nigeria where every political party or cabinet members have 30% representation of women and youths. Then we would have solved most of the issues.”

Key Recommendations for Inclusive Democracy

In a communiqué signed by IPAC Chairman Yusuf Dantalle and National Secretary Maxwell Mgbudem, several recommendations were made during the roundtable to promote gender inclusivity:

  1. Support for Special Seats: Commendation of the National Assembly for introducing the Constitution Alteration Bill for Special Seats for Women, sponsored by Deputy Speaker Benjamin Kalu. This Bill seeks to amend the 1999 Constitution to provide seat reservations for women in the National and State Assemblies.
  2. Visibility for Marginalized Groups: The need for deliberate measures to ensure the representation of marginalized groups, including women, minorities, and people with disabilities.
  3. Decentralization of Power: Advocating for decentralizing power to lower levels of government, allowing for greater involvement and control from the populace.
  4. Deliberative Democracy: Encouraging wider participatory processes that bring diverse perspectives into decision-making, leading to equitable policies.
  5. Inclusive Party Structures: Ensuring party leadership and decision-making bodies reflect equal representation of women and men.
  6. Candidate Quotas: Political parties should adopt policies to implement candidate quotas, ensuring a certain percentage of candidates are women.
  7. Capacity Building: Investing in leadership training, financial resources, and networking opportunities to support female politicians.
  8. Temporary Special Measures: Implementing measures to reserve women-only seats in politics to create a level playing field in a skewed environment.
  9. Collaborative Efforts: Encouraging partnerships among stakeholders, including civil society organizations and political parties, to promote inclusive democracy.
  10. Addressing Obstacles: Identifying and addressing cultural, social, and educational barriers that hinder women’s political participation.

Moving Forward

Agu’s call to action underscores the urgent need for a structured approach to inclusivity in Nigeria’s political landscape. By fostering an environment that encourages women’s participation and representation, Nigeria can pave the way for a more equitable and prosperous future. The roundtable highlighted a collective vision to empower women and ensure that their voices are heard in the nation’s decision-making processes.

With the support of various organizations and a commitment to addressing existing barriers, Nigeria has the opportunity to enhance women’s participation in politics and governance, ensuring that the country’s progress is truly inclusive.

The Inspiring Journey of Sam Ovie Uloho: From $500 Startup to E-Commerce Empire

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In the business world, few stories resonate as powerfully as that of Sam Ovie Uloho, an entrepreneur who turned a modest $500 investment into a multi-million-dollar e-commerce empire. As the Founder and CEO of Enklick Group, Sam’s journey is a testament to visionary leadership and a source of inspiration for aspiring entrepreneurs around the globe.

A Humble Beginning

Sam’s entrepreneurial journey began in 2013 when he took a leap of faith by investing just $500 into online sales. Fueled by determination, resilience, and a keen eye for market trends, he started building his business from the ground up. Sam’s early years were characterized by intense focus and hard work, as he navigated the complexities of e-commerce, adapting to the rapidly changing consumer landscape and leveraging new technologies to gain a competitive edge.

His understanding of customer behavior, optimization of operations, and ability to identify emerging trends allowed him to scale his business at an impressive rate. As revenue increased, so did his ambitions.

Building a Business Powerhouse

Today, Sam Ovie Uloho leads Enklick Group, a diversified conglomerate that spans multiple industries and regions. Under his leadership, the company has become a powerhouse in the e-commerce sector, operating on major platforms such as Amazon, Walmart, Shopify, eBay, and TikTok Shop. The success of Enklick Group is a direct reflection of Sam’s strategic approach, which emphasizes adaptability, innovation, and sustainable growth.

Recognizing potential beyond e-commerce, Sam expanded the company’s operations into real estate development, short-term and long-term rentals, and coaching programs. This diversification has insulated Enklick Group from market volatility and created new revenue streams, contributing to its resilience.

In 2023, Enklick Group generated over $26 million in revenue, highlighting Sam’s exceptional business acumen and strategic leadership. Projections for the coming year indicate a potential 35% increase in revenue, reflecting ongoing growth and expansion.

Staying Ahead of the Curve

Sam’s success can be attributed to his ability to stay ahead of the curve. Whether embracing new technologies, entering untapped markets, or forming strategic partnerships, he consistently makes bold moves that position Enklick Group for long-term success. His journey from a $500 startup to a global business empire serves as a beacon of hope for entrepreneurs everywhere. As he aptly stated, “Success in e-commerce—or any business—is less about luck and more about taking the first step, staying persistent, and having the courage to innovate along the way.”

Sam’s remarkable ability to navigate challenges, seize opportunities, and scale operations has established him as one of the most prominent entrepreneurs in the United States, Africa, and beyond.

Giving Back to the Community

Beyond his business achievements, Sam is dedicated to giving back to the entrepreneurial community. Through his coaching and mentorship programs at Blueprints Media LLC, he shares his expertise with aspiring entrepreneurs, helping them unlock their potential in the competitive world of e-commerce. Programs like Seller Blueprints offer practical tools and strategies to enable participants to thrive in the digital marketplace.

Impact Beyond Business

Sam Ovie Uloho’s rise to prominence is about more than financial success; it embodies leadership, vision, and impact. As an African Union Ambassador for Agenda 2063, Sam is actively engaged in shaping the future of the African continent, contributing to its long-term development goals.

From a small startup to a multi-million-dollar enterprise, Sam Ovie Uloho’s journey exemplifies what is possible when passion meets perseverance. His success inspires a new generation of entrepreneurs, and his influence on the business world is only beginning.

To learn more about Sam Ovie Uloho and to get in touch, visit www.samuloho.com.

Temporary Suspension of Cargo Releases at Apapa Port Due to Congestion

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The Nigerian Ports Authority (NPA) has announced a temporary suspension on the release of cleared cargoes from the Apapa Port Complex (APC) due to severe congestion issues currently affecting the port’s operations. This development is likely to disrupt logistics, supply chains, and the overall efficiency of cargo movement at one of Nigeria’s busiest ports.

In an official notice directed to the trucking sector, Truck Transit Parks (TTP)—the firm responsible for managing truck movements along the Apapa port corridor—confirmed the halt on truck releases from the Lagos Port Complex’s pre-gate area. The notice explained that the NPA is closely monitoring the situation to determine when normal operations can resume.

The notice stated: “Please be informed that there is a temporary hold on truck release from the Lagos Port Complex pre-gates due to ongoing congestion. We are closely monitoring the situation and will relax the hold as soon as conditions improve.”

The congestion has created significant bottlenecks at the port, delaying the flow of goods and hampering both local and international trade activities. This has raised concerns among stakeholders in the logistics and transportation sectors, who warn of potential economic impacts if the congestion persists.

Mr. Sani Mohammed, an official from the Association of Maritime Transport Owners (AMATO), attributed the congestion primarily to the inefficiency of terminal operators at the port. He criticized these operators for failing to effectively manage the inflow and outflow of cargo, exacerbating the congestion crisis.

Expressing frustration, Mohammed stated, “What we are experiencing is a result of low efficiency by the terminal operators. They have not been able to facilitate the smooth movement of cargo, and yet, they will still charge demurrage fees for the delays caused by their inefficiency.”

The situation continues to develop, with industry stakeholders urging immediate action to resolve the congestion and restore efficient cargo movement at the Apapa Port.

Call for Uniform Implementation of CONMESS During National Physicians Week

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During the 2024 National Physicians Week celebrations in Uyo, Akwa Ibom State, Prof. Bala Audu, President of the Association, emphasized the urgent need for consistent implementation of the Consolidated Salary Medical Structure (CONMESS) across all states in Nigeria. His remarks came as part of a broader discussion on the theme of the week: “Ensuring Universal Applicability in Remuneration: A Panacea to Talent Retention in the Healthcare System.”

Prof. Audu highlighted the ongoing challenges faced by healthcare professionals, stating, “Many doctors and indeed health workers find themselves overworked and underpaid, and the inconsistency in salaries is evident not only across the country but even within similar healthcare institutions.” He noted that these salary disparities are a significant deterrent for young, talented individuals considering careers in healthcare, which ultimately places an increased burden on those who remain in the workforce.

The President urged all levels of government to prioritize the uniform application of CONMESS across all states and healthcare sectors. He argued that equitable remuneration is essential for retaining skilled professionals in the healthcare system.

Prof. Audu further advocated for increased government investment in health infrastructure, better working conditions for healthcare workers, and placing healthcare as a priority in the national agenda. He stressed that addressing these issues is vital for ensuring the sustainability and efficiency of Nigeria’s healthcare system.

Gender Disparity in Africa’s Tech Ecosystem: A Call for Change

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Despite the increasing global emphasis on gender diversity in the technology and investment sectors, Africa’s tech ecosystem continues to struggle with a significant underrepresentation of women-led ventures. Recent reports reveal that female entrepreneurs face daunting challenges in securing funding, with their male counterparts dominating the landscape.

According to a report from Briter Bridges, only 10 percent of funded startups in Nigeria from 2019 to 2023 were female-founded, accounting for just 0.7 percent of the country’s total deal volume of $600 million. This stark disparity highlights not only the gender-specific funding barriers but also broader structural challenges faced by female entrepreneurs across the continent.

Further insights from Africa: The Big Deal, a platform that tracks investments in African startups, indicate that only three female-led startups—Nigeria’s Kobo360 and Sabi, along with South Africa’s Cape Bio Pharms—made it to the top 100 fundraisers in Africa. Kobo360, led by CEO Cikü Mugambi, ranked 33rd, while Sabi, co-founded and led by Anu Adasolum, secured the 40th position. Cape Bio Pharms, headed by Belinda Shaw, ranked 44th. These examples underscore the challenging landscape female-led startups navigate to secure significant funding.

While these ventures have achieved impressive funding milestones, their successes starkly contrast with the continent’s top fundraisers, all of which are led by men, each raising over $100 million in recent years. This disparity points to deep-rooted gender biases and industry practices that consistently marginalize female entrepreneurs.

Notably, Gro Intelligence, a prominent female-led deep-tech startup co-founded by Sara Menker, raised $85 million in 2021. However, Menker’s departure in early 2024, coupled with the company’s financial difficulties, highlights the volatility and limited support for women-led tech ventures at high levels of growth.

The Beyond the Noise report from Briter Bridges, which analyzed 176 startups across Nigeria, Kenya, and South Africa, emphasizes regional funding gaps for women-led ventures. Although Nigeria boasts the continent’s largest startup ecosystem, only 10 percent of its funded startups were female-founded, trailing behind Kenya’s 19 percent and South Africa’s 12 percent. These trends reflect cultural and structural barriers, including limited access to capital, traditional gender expectations, and inadequate representation in high-growth sectors like fintech and climate tech.

Conclusion

The gender disparity in funding for African tech startups highlights an urgent need for systemic change. Addressing these issues requires a collective effort from investors, policymakers, and industry leaders to create a more inclusive environment that supports and empowers female entrepreneurs. By fostering diversity in funding and leadership, the tech ecosystem can unlock the full potential of Africa’s diverse talent pool, ultimately driving innovation and economic growth across the continent.

Key Stakeholders Gather for Nigerian Peering and Interconnection Forum to Discuss Internet Infrastructure Expansion

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The Nigerian Peering and Interconnection Forum (ngPIF) recently took place in Lagos, bringing together key stakeholders from Africa’s internet ecosystem to discuss strategies for expanding Nigeria’s rapidly growing internet infrastructure. Hosted by the Nigerian Network Operator Group (ngNOG) and the Internet Exchange Point of Nigeria (IXPN), the event attracted government officials, industry leaders, and technology experts focused on enhancing digital connectivity across the country.

Lagos State Governor Babajide Sanwo-Olu, represented by Ganiyu Oseni, Senior Adviser on Technology, Broadband & Innovation, highlighted the critical role of internet connectivity in driving Nigeria’s economic growth. Oseni stated, “Digital connectivity is not just a tool for communication; it is a catalyst for economic transformation.” He assured participants of the Lagos State Government’s commitment to fostering digital inclusion and expanding infrastructure to benefit all Nigerians.

The two-day forum featured a range of panel discussions and workshops, addressing essential topics such as peering, interconnection, data centers, and the government’s role in fostering a conducive environment for digital innovation. Prof. Wale Adedokun, the National Coordinator of ngPIF, articulated the forum’s mission to bridge the digital divide in Nigeria, particularly between urban and rural areas. He emphasized, “The essence of ngPIF is to foster collaboration among stakeholders to ensure internet resources are more accessible and affordable across Nigeria.”

Muhammed Rudman, CEO of IXPN, underscored the importance of rural connectivity, stressing that government support is crucial for expanding internet access in underserved areas. He noted the potential of initiatives like the Universal Service Provision Fund (USPF) to enhance connectivity.

Ayotunde Coker, CEO of Open Access Data Centre (OADC), spoke about ngPIF’s role in building a robust peering community that includes infrastructure providers, content creators, service providers, and policymakers. He remarked, “This forum has evolved into a vibrant community dedicated to advancing Nigeria’s interconnection and peering infrastructure, putting the country on the global digital map.”

The discussions at ngPIF reflect a concerted effort to develop Nigeria’s digital infrastructure and ensure that the benefits of connectivity are extended to all citizens, ultimately contributing to the nation’s economic transformation.

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