The Maslow Billboard, the largest digital outdoor advertising screen in the world, has been revealed by an advertising firm at Lagos’ Murtala Muhammed Airport Terminal Two.
The Maslow Billboard, according to Alpha and Jam, is not only the biggest outdoor digital billboard in the world but also the first Truecorner LED screen in West, East, and Central Africa.
According to Samuel Ajiboye, the Chief Executive Officer of Alpha and Jam, The Maslow Billboard is also the biggest 3D digital billboard in Africa, outstripping even the renowned indoor display in Dubai, United Arab Emirates.
The jubilant Samuel said during the unveiling that “this is so because the world’s largest 3D digital billboard in Dubai, UAE, was installed indoors, making ours the largest outdoor screen in the world.”
The company said that The Maslow, with a display area of 800 square meters, would draw at least 800,000 people each day, including both walkers and drivers.
It further stated that the visibility covers both inbound and departing traffic from both domestic and foreign airports, with 36,000 vehicles passing by on average each day for a 35-minute dwell time.
It states that the billboard runs for 19 hours each day and offers a brand 24 seconds of display time.
The launch of the 3D digital billboard will improve advertising and marketing in the nation, Samuel continued to explain the idea behind the creative invention. On the continent, Alpha And Jam is revolutionizing how out-of-home advertising campaigns are carried out. We will continue to support immersive digital out-of-home marketing across Africa as part of our mission.
“The debut of The Maslow is proof of our dedication to innovation and giving our customers value. It can accept any format and provides a clear view from more than 800 meters away, making it the largest 3D billboard in Africa. Its stunning presence is ready to establish itself as a notable monument in Nigeria.
Oluwatosin Onalaja, BASL’s Head of Corporate Communications, emphasized the significance of brand visibility and distinction in gaining audience acceptance, patronage, and loyalty.
He emphasized the possibility The Maslow Billboard at the MMA2 Terminal gave to Nigerian corporate groups.
The Nigerian Exchange (NGX) continues to rise as banking stocks soar ahead of the Central Bank’s monetary policy committee’s announcement on key policy rates.
The purchasing activity in a few banking names propelled the stock market indices, increasing year-to-date gains to 2.67% as Nigeria’s headline inflation rate accelerates rapidly.
Indicators of market performance increased by +0.48%. To conclude at 52,621.19, the market index or All-Share Index rose by 252.06 basis points.
The overall amount traded climbed by 11.2% to 350.97 million units, priced at N5.17 billion, and exchanged in 5,946 deals, indicating an improvement in market activity. A total of 62.45 million units of UBA stock were exchanged today, while N1.58 billion worth of ZENITHBANK shares was the most actively traded.
Market mood was upbeat (2.2x), according to market breadth, as 33 tickers gained contrasted to 15 losers. STANBIC increased by 5.3%, FBNH increased by 7.5%, and ZENITHBANK increased by 2.1%.
The day’s biggest winners were TRANSCORP (+9.9%) and TRIPPLEG (+9.8%), while the biggest losers were CHELLARAM (–9.9%) and SUNUASSUR (–9.4%).
The Banking (+1.6%) and Consumer Goods (+0.4%) indexes registered increases, while the Industrial Goods, Insurance, and Oil & Gas indices were steady. Overall performance was mixed.
Globally, the value of the stock market increased by 137.25 billion dollars to close at 28,652.56 trillion, up from 28,515.31 trillion yesterday.
The Committee of E-Banking Industry Heads for Nigeria and the payment solutions provider Mastercard have joined forces to host the first Fraud and Cyber Security Forum in Lagos, Nigeria.
This information was provided in a statement released by Mastercard on Monday.
The forum, according to the statement, was intended to provide clients with the most recent information and solutions to protect their companies against cyber threats and was in line with the company’s goal of establishing a secure and smooth payments environment.
In 2020–2021, 91% of fraud attempts were successful, and the Anti-Corruption Agencies of Nigeria discovered that illegal financial crimes cost the country almost $18 billion yearly, according to the statement.
Ebehijie Momoh, Mastercard’s country manager and area business head for West Africa, commented on the event and said, “We are thrilled to host this innovative event on fraud and cyber security in Nigeria. One of the biggest dangers that organizations face today is cyber risk.
“With the growing use of digital services, fresh payment methods, and interconnected supply chains, it’s critical that organizations fully comprehend and manage this risk to safeguard both themselves and their clients,”He continued.
For an effective defense against cyberattacks, Celestina Appeal, the CeBIH chairman, urged for cooperation among the players in the payment ecosystem.
“Given the aggressiveness and relentless activities of cybercrime perpetrators who have become negatively innovative in the various ways and manners in which they deploy their schemes, the subject of cyber-attacks deserves the utmost attention that the industry can muster,” she said. We would like to urge coordinated action to stop ongoing cybersecurity threats.
The topic of discussion at the forum was common attack techniques employed by cybercriminals, as well as their motives and the assets they target. Insights into the regional cyber threat picture were gained by attendees, with a focus on the financial services industry, which has been one of the most often targeted sectors in recent years.
Additionally, they displayed the most recent fraud prevention strategies and tools, such as Mastercard’s strategic threat intelligence data, which made use of cutting-edge analytics to spot possible risks instantly.
Six days before the conclusion of his presidency, President Muhammadu Buhari commissioned the Second Niger Bridge in the South-East.
In a statement, Special Adviser to the President Femi Adesina said the President also commissioned seven legacy projects completed by the Federal Ministry of Works and Housing around the country.
The concept for the Second Niger Bridge was developed in 2005. There was an attempt in 2014 to start the project through Public Private Partnership (PPP), however it was unsuccessful. The Presidential Infrastructure Development Fund (PIDF) funded the construction in 2016.
The Loko-Oweto Bridge, which connects Benue to Nasarawa State, and the Ikom Bridge in Cross River State were also completed. The road project includes a completed part of the Kano-Kaduna Dual Carriage Expressway and three new Federal Secretariats.
“The first of the Federal Secretariats at Awka is located at Executive Business District Layout, Awka South Local Government Area, Anambra State and is situated on 5.106 Hectares of land.
“The project was first awarded on 9th December, 2011 but was practically completed and taken over by the Ministry of Works and Housing on 14th July, 2022,” the statement read.
“The Secretariat has a total of 498 Office Spaces, a Conference Hall, four Committee Rooms, an Exhibition Hall, a Banking Hall, a Post Office and befitting Reception. In addition, the Secretariat has lift facilities, well laid out parking spaces and drainage, staff canteen, fire hydrants and other vital facilities.
“The second, Federal Secretariat Gusau, Zamfara State is located at Unguwan Dan Lawan, off Sokoto By-Pass Road, Gusau, Zamfara State. The project is situated on 7.5 Hectares of land and was awarded also on the 9th but was practically completed and taken over by the Ministry on 30th November 2022.”
The Second Niger Bridge’s commissioning was enthusiastically praised, with some officials calling to it as the “Muhammadu Buhari Bridge.”
Bashir Ahmad, Special Assistant to the President on Digital Communications, tweeted on Tuesday, “The Second Niger Bridge is to officially be called/known as Buhari Second Niger Bridge.” President Muhammadu Buhari officially opened the Muhammadu Buhari Bridge today.”
Tolu Ogunlesi, the Special Assistant to the President on Digital/New Media, said that the decision to rename the bridge was made by the eastern region’s five governors.
“Following consultations, the Governors of the South-East have agreed that the Second Niger Bridge shall be named the Muhammadu Buhari Second Niger Bridge,” his tweet read.
Many Nigerians have taken to social media to express their disgust at Emdee Tiamiyu, a YouTuber, over his latest interview with BBC.
Tiamiyu had an interview with BBC, where he revealed that some Nigerians are not looking for new qualifications, but to start a new life abroad.
“People are looking for alternatives,” he stated. “They want to escape Nigeria.”
Tiamiyu, who’s known for offering advice on navigating immigration systems like the UK’s, said for most people, the only legal and broadly accessible route is through the education system.
“The student route is more like an answered prayer. It is a “big bracket that’s able to take a lot of people, the ordinary people,” he added.
Nigerians slam Emdee Tiamiyu
Displeased with the interview, Nigerians accused Tiamiyu of betrayal.
According to them, the YouTuber, whom they accused of painting a wrong narrative about Nigerians going abroad for study purposes, was only desperate to soothe the UK government’s narrative for personal gains.
Emdee Tiamiyu, a renowned failed Youtuber went to UK by being a dependant & when he settled, he destroyed a way which Nigerians use to migrant for a better life just for clout.
His excuse was that nobody watches his Youtube videos so now everyone will watch him by force. pic.twitter.com/b12Guiow5p
This is Emdee Tiamiyu, a Yoruba man from Osun State. This is the man that has destroyed the hope of millions of young Nigerians in this generation and generation unborn by revealing the means they use to escape poverty, oppression and hardship in Nigeria. He is domiciled in UK pic.twitter.com/9sRWMhV5DD
Nigerians have been made aware of a video showing your interview with one “Emdee Tiamiyu” who claimed that Nigerians do not go to the UK because they need the degree. For the avoidance of doubt, your interviewee has spoken strictly for himself & not for Nigerians. pic.twitter.com/thVIgkXI6Q
Incase Nigerian’s are looking for village people to blame, see your brother Emdee Tiamiyu exposing himself on tv for the world to see. pic.twitter.com/PtjwfzPUJ1
Emdee Tiamiyu is a m!ndless clown. Nigerians are already being stigmatized, our country has a negative image but instead of correcting the wrong perceptions he deliberately threw Nigerians under the bus for views & cheap clout. Ignorance is a disease. Hope karma visits him soon.
Oando Clean Energy Limited (OCEL), the renewable energy subsidiary of the company, in partnership with the Lagos Metropolitan Area Transport Authority (LAMATA), on Tuesday, May 23, 2023, formally commenced the operations of its electric mass transit buses in Lagos.
In a ceremony at the Lagos Bus Services Limited (LBSL) Head Office, Ilupeju, Lagos, the parties stated that the initiative was aimed at transitioning the Lagos State public transport system through the development of a pathway to a carbon-free mobility ecosystem within the state.
They added that the EV buses will provide a viable, competitive, and environmentally friendly alternative to the current internal combustion engine mass transit buses in circulation.
In her welcome remarks, the Managing Director of LAMATA, Abimbola Akinajo highlighted the importance of public-private-partnerships, stressing that the government was keen on working closely with private businesses to develop the state.
“This initiative is a major aspect of our vision for transportation in Lagos State. We are desirous of having a clean and efficient transportation system. Today’s event is proof of our desire to involve the private sector in our activities to give the average Lagosian the ability to meet their mobility needs.
“LAMATA is a multi-fuel transport regulatory agency for Lagos hence the partnership with OCEL for the use of EV buses in passenger operations. From LAMATA’s perspective we are open to do business with the private sector whilst ensuring that these partners are aligned with the vision of Lagos state.
“ I am elated that in just over a year that Oando Clean Energy came to us to discuss the possibility of working with us in the deployment of electric buses, we have signed a Memorandum of Understanding (MoU) with a key deliverable being the implementation of a ‘PoC’ that would allow us finally include electric buses in our ecosystem,” Akinajo stated.
Lagos is said to be the most populous city in sub-Saharan Africa, with a population of over 20 million people and growing. In the last decade, the population of vehicles on Lagos roads are believed to have quadrupled; with over 3,000 mass transit buses operating in the state.
The Commissioner for Energy and Mineral Resources, Lagos State, Olalere Odusote, in his remarks said that Lagos had identified transportation as a major cause of pollutants and health problems in the state.
“For us, this initiative is another step we’re taking as a government to ensure we clean up the environment in addition to ongoing initiatives in the energy sector,” he noted.
Also speaking, the President/CEO of OCEL, Dr. Ainojie Irune, said that it was an opportunity for Oando to revolutionise mobility in the country as well as build local capacity for the renewable and clean energy ecosystem.
“Whilst today these buses have come from across the world, in the very near future they will be produced here in Nigeria. In the very near future, we will have a multitude of locally trained engineers who are capable of operating, maintaining, and servicing these buses and other renewable energy assets.
“We see these buses as a first step. This PoC facilitates the collection of the first sets of data points to support the development and deployment of EV for municipal and public transport on the continent.
“Our ambition together with Lagos state, is to set our sights on the future and chart a path for others to follow. We have worked tirelessly to get here.
“We believe that these electric vehicles have the potential to transform the transportation sector in Nigeria and provide a sustainable solution for the country’s growing population,” he said.
The Commissioner for Transport, Lagos State, Dr. Frederic Oladeiende, who represented the Governor of Lagos State, Mr. Babajide Sanwo-olu, said that there was abundant evidence that showed that human activities had been the main drivers of climate change due to the burning of fossil fuels like coal, oil and gas.
“Lagos is the only state in Nigeria that has prepared and initiated the execution of a climate action plan. The plan outlines 26 efforts covering adaptation and mitigation actions to build a sustainable low carbon economy in the pursuit of achieving net zero emissions by 2050,” Oladeiende said.
The roll-out of the electric buses started with a three-month proof-of-concept phase, aimed at establishing the viability of electric vehicles for mass transportation in Lagos State.
It will be followed by a pilot phase with an expanded fleet and bus routes, and the eventual countrywide deployment, creating employment for over 30,000 Nigerians.
According to the data at the FMDQ Security Exchange where forex is traded officially, the dollar to naira exchange rate stood at (undisclosed).
This would mean that the Nigerian currency either gained or lose in value against the United States dollar, as the foreign exchange (forex) trading closed at N460.78 per $1 on Monday, May 22.
How much is the dollarto naira at the black market today?
Going by sources at the Bureau De Change (BDC) in Lagos, the dollar to naira last traded between ₦755 and ₦765 with an average of ₦761.57 in the black market in the state.
It is, however, pertinent to note that the Central Bank of Nigeria (CBN) does not recognise the parallel market (black market), as it has directed individuals who want to engage in forex to approach their respective banks
According to Kashifu Inuwa, director general of the National Information Technology Development Agency, over 30% of foreign direct investment in Africa goes through Nigeria.
He claims that the Nigerian tech sector drew $4.4 billion in investments in 2015, 2019 and 2020 combined, and that ICT made up around 18.5% of the nation’s GDP.
Inuwa made this statement at the 2023 Leaders Without Borders Annual Business Summit and International Honours, which had the theme “Business Beyond Borders, Global Partnerships and Sustainable Investments” and was held in London. This event brings together business executives, entrepreneurs, and thought leaders from all over the world to encourage cooperation and innovation in the business world.
The DG reminded that NITDA, a government organization founded in 2001 to assist Nigerians in using information technology, has sponsored roughly 753 companies in various ways through grants, training, and initial capital.
It also stated that 120 million Nigerians now have access to the internet, not just computers, thanks to the agency’s efforts.
He pointed out that the digital economy has paved the door for new technology, giving outstanding African adolescents the chance to realize their potential and become global leaders.
The head of NITDA claims that the nation’s fintech businesses are almost twice as large as its largest bank.
The largest bank in the nation, according to him, is worth roughly $1.6 billion, whereas Flutterwave is worth almost $3.6 billion.
Nigeria is booming and has Africa’s most active IT ecosystem. We recently sent some startups to Riyadh for a competition, and two of them earned $150,000 apiece as global winners.
“Hundreds of IT Hubs, IT Parks, and community ICT centers were constructed, furnished, and equipped with world-class facilities across the states of the federation, in addition to making an effort in IT development and improving the ability of the citizens.
“The agency through its strategic relationships with techpreneurs, supported startups, and IT ecosystem builders through Nigeria ICT Innovation and Entrepreneurship Vision (NIIEV), which have created employment for Nigerian youths,” he said.
Inuwa pointed out that the agency had been working hard to promote digital literacy by utilizing local languages to make it possible for every Nigerian to utilize digital devices and access online services.
“To help the economy, we have taught digital literacy to more than 3.3 million Nigerians.
“NITDA started working on creating several regulatory frameworks for the advancement of information technology in government institutions. The programs’ goals are to create human capital, provide universal access to digital services, and promote digital literacy in educational institutions, rural areas, and urban areas in order to build a knowledge-based economy, according to the NITDA DG.
Inuwa added that by preventing ministries, departments, and agencies from duplicating projects, the agency had saved the nation money through the IT project approval.
According to him, from 2019 until the present, NITDA has saved the nation over N305 billion by implementing the project, which has improved efficacy and efficiency in carrying out government IT initiatives across the nation.
With its latest promotion, dubbed “Unlock your blessings,” Seaman’s Schnapps claimed to be encouraging hard work among Nigerians.
Speaking to media at a press conference in Ikeja recently, Mr. Adebowale Bojuwade, Senior Brand Manager for Schnapps at Grand Oak Limited, said the campaign aimed to inspire people to take action and open the doors to the good things they were looking for.
It aims to encourage individuals to use their blessings. The campaign is open to everyone and covers every aspect of society, so no segment will be left out.
He added that the brand wants to remind everyone that everyday circumstances like good health, safety, and the ability to afford basic needs are also blessings worthy of gratitude, especially during difficult economic times. People frequently associate blessings with landmark moments like childbirth, marriage, or career milestone.
Adebowale clarified that the goal of the campaign is to raise Nigerians’ social consciousness in addition to promoting the brand.
A better society, according to Bojuwade, is the result of being able to inspire and urge individuals to discover their benefits.
“As I mentioned earlier, the campaign aims to raise social consciousness in addition to promoting the company. Because we really believe that encouraging and motivating people to discover their blessings will result in a better society that is productive and prosperous, which will promote the economy and assist to expand the brand.
According to Adebowale, the goal of the brand is to instill a spirit of thanksgiving in individuals of all ages and demographics by making them aware of the blessings in their immediate environment.
He continued by saying that the campaign encourages people to discover their own route to blessing by appreciating and celebrating the little victories and everyday pleasures that make life worth living.
“Seaman’s Schnapps recognizes the significant role that spirituality plays in human existence, and the brand has always been a conveyor of blessings, seeking to enhance the hope and spiritual uplifting of individuals and communities in a long-lasting and meaningful way.”
Everyone is invited to join the movement and embrace the notion that blessings are abundant in our lives by recognizing ordinary marvels and showing gratitude for them, which opens the door to greater happiness and contentment.
Adebowale acknowledged that the campaign costs hundreds of millions of dollars but stated he might not be able to quantify the cost.
In a last-minute reorganization of the aviation industry, the Federal Government has fired Mr. Mathew Pwajok, the Acting Managing Director of the Nigerian Airspace Management Agency(NAMA).
The Nigerian Civil Aviation Authority’s Director of Airspace and Aerodrome, Mr. Tayib Odunowo, has reportedly been named as his replacement by Aviation Minister Hadi Sirika.
This occurred just one week after Sirika replaced Captain Rabiu Yadudu, whose term as managing director of the Federal Airports Authority of Nigeria had expired last Saturday. Yadudu was replaced as managing director of FAAN by Mr. Kabir Mohammed, who was selected by the minister.
Saleh Dunouma, who completed his position with the authority a few years ago, was followed by Yadudu, a former Director of Airport Operations. Yadudu was chosen in the year 2019.
According to rumors, the minister may yet replace certain directors as part of the reorganization and dismiss the head of another aviation body.
However, operators and industry stakeholders have criticized Sirika’s conduct, claiming that the last-minute modifications could have an impact on the sector.
They protested the lack of confirmation for the substituted NAMA MD, Pwajok, who was appointed in an interim capacity in February 2022 and has since lasted longer than the allotted six months to lead the agency.
The minister’s last-minute actions have been criticized as being unacceptable and unnecessary by a lobbying group for the sector called Aviation Round Table.
In a statement, the organization claimed that the aviation minister “appropriated the necessary governance structure under his personal control for eight solid years by neglecting to appoint the statutory governing boards required to ease the functions of the agencies and parastatals under his control.”
Among the minister’s other measures, they believe that this one caused the organizations to decline rather than advance. The agencies operated transactionally rather than operationally as a result of the minister’s direct control, which hindered both their advancement and his rating.
“The minister’s micromanagement activities have further shown the need to abolish the Ministry of Aviation and reassign the various departments with proper governance structures back to the Ministry of Transport, while simultaneously granting independence to the Nigerian Civil Aviation Authority under the appropriate internationally recognized structures for regulating the Nigerian aviation sector to achieve global best practices.
Google today announced the expansion of its Flood Hub platform to cover 80 countries worldwide, including the addition of 8 new countries in Africa. To date, 23 African countries are on the Flood Hub. This expansion comes as part of AI-enabled efforts to address the devastating impacts of floods and provide critical support to vulnerable communities. The Flood Hub platform now offers forecasts up to 7 days in advance, benefitting a population of 460 million people globally. This expansion extends the reach of Flood Hub’s valuable services to countries such as Brazil, Nigeria, Pakistan and Thailand.
The Flood Hub platform has been available in several African countries prior to this expansion, including Angola, Burkina Faso, Cameroon, Chad, Democratic Republic of Congo, Ghana, Guinea, Ivory Coast, Liberia, Malawi, Namibia, Nigeria, Sierra Leone, South Sudan, South Africa, and now, with the expansion, it encompasses 60 additional countries. These new countries include Burundi, Eswatini, Guinea Bissau, Lesotho, Madagascar, Rwanda, Senegal, and Zimbabwe. The inclusion of these countries ensures that a broader range of African communities facing high flood risk and extreme weather conditions can benefit from Flood Hub’s accurate and timely flood forecasting services.
Floods claim tens of thousands of lives and cause billions of dollars in damages each year across the world. Their impacts are particularly severe in low-resource regions that often lack effective early warning systems. By equipping governments, aid organisations, and individuals with advanced flood forecasting tools, Flood Hub empowers communities to take proactive measures and make informed decisions to reduce the devastating effects of floods.
To further enhance flood preparedness, Google is expanding flood alerts through Search and Maps notifications, ensuring that individuals have convenient access to timely and critical flood information. This expansion aims to empower more people to take necessary precautions and safeguard lives and property.
“We recognise the significant impact that floods have on communities worldwide, especially in regions with limited resources and vulnerable populations,” said Yossi Mattias, VP Engineering & Research and Crisis Response Lead. “We are committed to expanding the reach of the Flood Hub platform to support these communities and provide accurate flood forecasting that can help save lives and protect livelihoods.”
Since 2019, nonprofit organisations have been working with Google.org to establish offline alerting networks, acknowledging the limited access to cell phones or the internet in some communities. These networks are designed to leverage trained and trusted community volunteers who play a crucial role in amplifying the reach of Flood Hub’s warnings. As a result, even individuals without digital connectivity are able to receive life-saving flood alerts, ensuring their safety during times of crisis.
The Dangote Group has paid back 70% of the loans it received from the top bank to develop its oil refinery, according to Central Bank of Nigeria Governor Godwin Emefiele.
Speaking during the refinery’s commissioning on Monday, he noted that local banks provided the majority of the funding for the project’s commercial loan component while international banks provided the remaining funding.
He said that the CBN supplied roughly N125 billion to meet domestic currency needs while also guaranteeing that foreign exchange (FX) was available to pay for imported machinery.
He said, “We have it on good authority that the Dangote Group has paid off some portion of these commercial loans even before this commissioning today,” Emefiele said.
“Today, total loans outstanding have dropped from over $9 billion when this project started to N2.7 billion. This reflects the astute credit worthiness and commercial capability of the group and its chairman, Alhaji Dangote.
“I must at this juncture appreciate all the participating local Nigerian banks, who did not only partner with the project through effective financing but were keenly aware of the importance of the project for our nation.
“They provided immense support and exceptional understanding, even when interest payments and principal repayment had fallen due.”
As part of its commitment to shutting down such enterprises as of June 1, 2023, the Federal Government said on Monday that no unlicensed petroleum product dealer will be permitted to load products after that date.
It emphasized that “no licence, no loading of any petroleum product” and warned that as of June 1, 2023, anyone wishing to transact in petroleum products must get a license.
At a stakeholders’ meeting on gas usage in Nigeria, the government issued the warning in Abuja via the Nigerian Midstream and Downstream Petroleum Regulatory Authority.
The engagement’s goals were to educate operators about the urgency of obtaining the necessary petroleum storage license and to encourage the switch from white products to gas.
“No loading, no license. We still have around nine days to act morally and abide by the rules. According to the Bible, obedience is preferable to offering a sacrifice. As a regulator, we would prefer that people abide by the rules so as not to harm your companies.
We can promise you that, beginning of June 1st, there will be no license and no loading if there is no compliance, according to the authority. We would shut down any depot, any permitted operator that provides petroleum products to an unlicensed facility, said Ogbugo Ukoha, executive director of the NMDPRA’s distribution systems, storage, and retailing infrastructure.
“I want to make a special appeal that anyone who wants to handle petroleum products in excess of 500-liter storage is required to obtain a licence,” he continued. We go through everything during our licensing process, including your equipment, distance, risks, and procedures.
Ukoha urged the operators to position their energy demands to accept gas derivatives in order to take advantage of the changing prospects in the gas value chain.
He listed the derivatives, which also included compressed natural gas, autogas, propane, and butane, and said that investing in them would help protect against potential future global uncertainties caused by the supply of gasoline and diesel.
Okoha claimed that the authority’s twelve gazetted regulations, which when broken posed higher dangers, had specified the licensing framework, practices, and standards for handling petroleum products.
The Federal Government has implemented a number of measures and policy frameworks, including the National Gas Expansion Programme and the Decade of Gas Programme, to expand the usage of gas in Nigeria, according to the authority’s Chief Executive Officer, Farouk Ahmed.
The Executive Director, Health, Safety, Environment and Community, NMDPRA, Mustapha Lamorde, spoke on behalf of Faouk. “It is our hope that this engagement will create the necessary awareness and make the compelling case for industry operators to foster a compliance culture, which alone guarantees safer and sustainable facilities,” he said.
He said that the Midstream and Downstream Gas Infrastructure Fund, which is a part of the Petroleum Industry Act 2021, would catalyze investments in gas. He also said that while efforts to expand the use of gas were already showing results, more collaboration was still required to increase domestic gas usage.
FIAT celebrates the 100th anniversary of the iconic Lingotto: a century has gone by since the fundamental production facility was officially opened on May 22nd, 1923, immediately establishing the location as a major Italian industrial centre.
The famous building now has a new life and purpose but continues to be an engine of new ideas and inspiration. For FIAT, Lingotto is a place where heritage meets the future. In its early days, its iconic structure and features were a manifesto that truly launched FIAT into the 20th century. Today it is again a manifesto of the brand’s renewed vision in the 21st.
In the celebration video “Shaping the Future” Olivier Francois, FIAT CEO and Stellantis Global CMO, takes the opportunity to anticipate some details of the cars that will begin to appear on the market from 2024. The “Lingotto inspired” theme also makes FIAT’s goal explicit: to inspire change and make a sustainable future accessible to all.
Olivier Francois said: “At FIAT we think that the Lingotto and the track are such a landmark that they deserve to become ‘design markers’. Their characteristics have inspired FIAT designers to trace the lines of the future FIAT models, from the incredible roof track, to the ramp – a revolution in the 1920s – which is like a manifesto of our traditional lightness: less material, more space, that’s our vision of interior design moving forward.
“The oval shape of “La Pista 500” inspires several new interior product marker, while the façade, with the lightness of its windows, will also become a distinctive signature of the future models. I look forward to launching those ‘Lingotto inspired’ models a year from now.”
Ginevra Elkann, President of Pinacoteca Agnelli said: “Today is a special day: the Lingotto was officially opened by my great grandfather, exactly 100 years ago. It was a very proud moment: a huge step forward for FIAT, and for the Italian industry in general. Corbusier called it “one of the most impressive sights industry has ever offered”.
The Lingotto has been an icon of Italian production, of renewal and transformation and, still today, it’s an engine for new ideas. In the 80s we were in search of a new purpose, so my grandfather decided to turn it into what you see today: shops, offices, hotels, and culture fulfilled by the artistic mission of Pinacoteca Agnelli.
Recently relaunched through a new ambitious programme of exhibitions and events, the Pinacoteca has become a new destination for a diverse and young public. Thanks to the hanging garden on La Pista 500 with its spectacular art installations, to Casa 500 and its FIATCafé500, Pinacoteca Agnelli is today one of the most visited museums in the city.
The Lingotto building found its new vocation during the 80s when it was inaugurated to the city of Turin and the collection of Giovanni and Marella Agnelli became its symbolic core. Today the opening of La Pista 500 reconnects the public with the original identity of this special site, merging the past with new, fresh, and vital roots.
La Pista 500 is the largest hanging garden in Europe and Casa 500 – welcoming visitors interested in the FIAT icon, art, architecture, and nature – is not just a museum: it’s the beginning of a journey into the future.
As the original, symbolic home of FIAT for a century, the Lingotto is constantly evolving and adapting itself over time, like the FIAT Brand. Innovation, attention to detail and lightness remain at the core of the brand’s future plans, with a strong prioritization of customers’ real needs in an era of continuous change.
The primary indexes of the local market, which include the Nigerian Exchange (NGX), rose on Monday as buying demand in big, mid, and small size equities drove prices higher. The market began with people looking for deals at MTNN and other places.
Investor wealth increased by 99 billion as a result of increased buying interest across counters. The market’s year-to-date gains jumped to 2.18% as a result. The market index (All-Share Index) increased today by 181.20 basis points, or +0.35%, to settle at 52,369.13.
The value of the stock market increased by 99.46 billion, or +0.35%, to close at 28,516.11 trillion from 28,416.65 trillion last Friday. The overall volume and total value traded for the day decreased by -61.07% and -50.79%, respectively, indicating that market activity was down.
According to Atlass Portfolios Limited’s market brief, 5,855 trades totaling about 315.67 million units valued at $4,033.59 million were completed. The stock with the highest amount of trading was ZENITHBANK, which accounted for 16.93% of the total volume of trades. ACCESSCORP (15.22%), UBA (9.86%), MANSARD (7.46%), and GTCO (6.37%) rounded out the top 5.
Likewise, ZENITHBANK was the most traded stock in terms of value, accounting for 34.25% of all trades on the market. With a price increase of 9.85%, IKEJAHOTEL led the list of advancers, followed by ACADEMY (9.80%), PRESTIGE (9.76%), NPFMCRFBK (+9.71%), and CILEASING (+9.69%), and twenty-six others. MTNN gained +0.9%.
Fifteen stocks depreciated, where NCR was the top loser, with a price depreciation of -9.71% to close at ₦2.79, as SOVRENINS (- 8.89%), NEIMETH (-7.33%), ARDOVA (-6.95%), and ROYALEX (-5.77%) also dipped in price.
Then, the market breadth closed positive, recording 31 gainers and 15 losers while the market sector performance closed positive. Four out of the five major market sectors were up, led by the Insurance sector (+1.34%), followed by the Banking sector (+0.89%), the Consumer goods sector (+0.39%), and the Industrial sector (+0.01%), while the Oil & Gas sector dropped by -0.64%.
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Aliko Dangote, President of The Dangote Group, stated on Monday that his refinery will create “massive” work possibilities for Nigeria’s teeming youngsters.
He declared this in Lagos during President Muhammadu Buhari’s commissioning of the 650,000 bpd Dangote Petroleum Refinery and Petrochemicals.
Among other refined products, the project is anticipated to produce Premium Motor Spirit (PMS), diesel (AGO), aviation jet fuel, and Dual-Purpose Kerosene (DPK).
“The refinery operation will generate massive job opportunities in their hundreds of thousands,” he said while highlighting the benefits of the refinery.
“The refinery will make available to our industries vital raw materials to a large range of manufacturers in the pharmaceuticals, food, beverages, construction and many other industries.”
The industrialist also thanked everyone for their “massive” support for him and The Dangote Group in building the Dangote Petroleum Refinery and Petrochemicals plant.
He thanked Buhari and Nigerians for the unwavering support his company got from the project’s start to completion.
“What I want to share with Nigerians is actually to show my personal gratitude and that of The Dangote Group, for all the assistance that we got from the President, from the Federal Government of Nigeria, from even the President-elect, because he also set the pace by creating the Lekki Free Trade Zone as part of his dream.
“And also we want to thank most especially Governor Fashola, Governor Ambode and most especially Governor Sanwo-Olu; because they have given us all the assistance that we were looking for.
“We thank all Nigerians for giving us their support which is too numerous to mention,” the industrialist said.
Nigerian women have been charged not to get intimidated and discouraged but tenaciously participate in political activities and nation-building.
The charge was given by participants at the second Education First Series (EFS) workshop organized by the Women in Nation Building, WINB Africa, held at the Alliance Francaise, Mike Adenuga Centre, Ikoyi, Lagos.
The WINB AFRICA EFS, which was well attended by women from different backgrounds, focused on three different pulse points namely; Financial and Digital Inclusion as Key Drivers for Expanding Female Entrepreneurial Growth and Independence; Engaging Communities, Feminine and Advocacy Groups, Financial and Political Organizations for Feminine Entrepreneurial Success as well as Activism in Feminine Gender Coalitions: The Place of Financial Power and Education.
Speaking on the topic titled ‘Celebrating A Nation Builder’s Legacies’, Dr Jamila Bio Ibrahim, Special Adviser to the Executive Governor of Kwara State on Sustainability Development Goals (SDGs) who was the Special Guest of Honour, said active participation of women in politics and governance would help secure visibilities for female politicians and decision-makers as they would not only be able to draw attention to issues affecting them but put in place policies that will favour the women folks.
She expressed optimism that women’s active engagement in political activities would help them develop and express their opinion in society as well as be able to take part in making decisions that affect their lives.
“Women’s active participation in politics, especially at the local level will promote inclusive representatives of leadership, promote women in leadership and decision-making at all levels,” Dr Ibrahim submitted.
Speaking on the challenges faced by women who are already in politics, Dr Ibrahim encouraged them to always be strong-minded and developed well-formed minds to avoid being discouraged due to intimidation by men in society.
“The place of financial power and education cannot be overemphasized. While knowledge is the primary ingredient, economic power is the catalyst for women’s development and empowerment, women must constantly seek more knowledge and know whom we are.
“We must seek the knowledge of self, which is a holistic knowledge by not just pursuing academic and technical knowledge, but we must also seek spiritual and religious knowledge, because as women if we are well-rounded as individuals, we hardly get pushed around.
We might get called names in an attempt to break our spirit, because we refuse to be pushovers, this is where a thick skin comes in here handy. Do not allow your spirit to be broken. Go ahead, push on and you would achieve it,” she submitted.
Also speaking, the Chairman and keynote speaker at the event, Barrister Mike Dada, urged women to always encourage one another not to give up regardless of the challenges they face, as he noted that problems are part of everyday life, and individuals only need to fathom out how to confront and defeat them.
Dada, who is also the Managing Director, PRM Africa Marketing and Communications, added that “We can’t talk about nation-building without talking about women. Women are very powerful but many of them don’t realise the power they have; however, we must continue to fight for more spaces and opportunities for women, we must not keep quiet.”
Speaking earlier, Dr Bukola Bello Jaiyesimi, the founder of African Women in Nation Building, in her welcome address, noted that WINB Africa was founded in 2014 as a pan-African women’s organization with the sole aim of bringing consciousness to women’s role in nation building in Africa.
Dr Jaiyesimi said the WINB Africa was deliberately created by her and four other women from four other African countries as a result of a noticeable gap in nation-building. According to her, “While women are seen as foremost nation builders worldwide, surprisingly, many women are being seen taking the back seat in nation building, apparently as a result. I saw the gap and was very determined to bridge the gap.”
She said while women are the foremost nation builders in the world as they start from family units with different daily tasks, that position must not be relegated by anyone, community, institution or government.
A strong advocate for women’s role in development and nation-building, Dr Jaiyesimi expressed her belief in the fact that there is a need for more women to be involved in business, trade, governance and other sectors of the African economy.
“Good governance has been on the rise in the nations of Africa, as the continent now witnesses women taking on roles as president of nations, corporate and business leaders, where jobs and opportunities are created.
There are a lot of untapped opportunities for the reinvention of social emancipation in Africa as decision-makers could work closely with non-governmental organisations in the nation-building process. There is a need for more women to be involved in business, trade, governance and other sectors of the African economy. In addition, women organisations can also be catalysts for development in Africa.”
“With this deliberate creation of the NGO, we started launching different projects such as Education First Series, because women need to be educated. We engage in topics that are brought on the front burner. Another project we hold dearly in our heart is the orphanage project where we teach the orphans what education means,” she added.
“WINB provide food, clothing and comfort for them, so we can bridge the gap that is created by that sector that could be a threat to you and me in the future. Another project is the WIMB Africa Business Roundtable, a monthly programme where we focus on different sectors.
WIMB Africa Project Sapphire, where we help young women to get into male-dominated sectors in partnership with universities and colleges all over the world. WIMB Africa Project Back To School where we ensure that we reduce drastically the number of out-of-school children. Also, we have Project WIMB Africa Food Bank where we ensure that vulnerable people are fed.
“I want to see women scale new heights. Women are dynamic, able to multi-task and innovative. With the energy and dynamism that women have been endowed with, their role in nation-building cannot be undermined but amplified and supported by all,” she said.
Amid encomium from eminent personalities, which included President Mohammadu Buhari and five other African heads of state, President of the pan-African Conglomerate, Dangote Industries Limited (DIL), Aliko Dangote disclosed yesterday that the newly commissioned 650,000pbd refinery would employ over 100,000 Nigerians youths as well as generate over $21 billion, therefore saving the country huge forex, that would have been used for fuel importation. The company, according to him, now has over 33,000 employees.
Much to the excitement of Nigerians, Dangote said the commissioning has marked the beginning of the new journey of the self-sufficiency in refined petroleum products and exportation of same just as been achieved in Cement and lately fertilizer.
Dangote lamented that the current fuel crisis has had negative impact on the nation’s economy and that informed his decision to build a world class refinery that would change the trend and that though faced challenges but decided to trudge on.
He highlighted events leading to his firm deciding to build its own refinery after his attempt to acquire one of the existing moribund did not materialize noting that he decided to change marketing strategy and settle for gigantic project ever undertaken by an individual world over.
According to him, the refinery plant would be run at the highest effective and efficient level for maximum benefits to all Nigerians noting “we will replicate what we achieved in cement and fertilizer by attaining self-sufficiency and becoming net exporter.
Dangote assured Nigerians that 40 per cent of the production capacity will be available for export with the coming on stream of the plant guaranteeing raw materials for plastic, and pharmaceutical industries.
In his remark, President Buhari congratulated Dangote Group, saying “the 650,000 barrels a day of crude which will enable our country to achieve self-sufficiency in refined products and even have some supplies for export saying the government and people of Nigeria are proud of the doggedness and tenacity of Dangote as entrepreneur.
Said he; “This feat at this time of the nation’s economic development clearly made this event a notable milestone for our economy and the game changer for the downstream petroleum products not only for Nigeria but the entire African continent. Dangote Group has helped transform our economy from heavy import dependence to a net exporter in some critical industries, including cement and Fertiliser.”
He noted that the economy which has been stressed for many decades by huge deficits in economic infrastructure and over a decade of insurgency has also been severely impacted by several external crises, including the global financial crisis, the collapse of world crisis the Coronavirus pandemic and the Russia Ukraine war.
“The consequences of these challenges constitute a severe strain on our economy and limiting government’s ability to provide basic infrastructure without resorting to borrowing. Government therefore decide to focus attention on creating an enabling environment for the private sector to thrive and fill the enormous gap in investments not only in infrastructure, but also in all critical sectors.
“We recognize that without active participation of the private sector and a strong commitment to public-private partnership, the economy will not be able to continue to meet the challenge and economic growth”, while expressing the hope that the coming administration will continue to apply such innovative schemes to accelerate the fruition of critical infrastructure, in particular roads and gas pipelines.
Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele while commending Mr. Dangote for the successful completion of the refinery project said it would not only aid that nation’s domestic petrol needs, but also help in generating export revenues for our country.
Emefiele recalled; “In September 2013, when Alhaji Aliko Dangote announced his plans for the refinery, it was estimated to cost about US$9 billion, of which US$3 billion was projected as equity investment by the Dangote Group and the balance financed through commercial loans. Due to an array of factors, the project was eventually completed with a total of US$18.5 billion with funding distributed into 50 percent equity investment and 50 percent debt finance. I am proud to state that the commercial loan component of the project was financed majorly by our domestic banks with the balance sourced from foreign banks. The Central Bank of Nigeria also partnered, as always, with the Dangote Group in ensuring the successful completion of the project by providing about N125 billion, to cover domestic currency requirements for the venture.
“What you may not be fully aware of, Your Excellencies, is that the Dangote Group has started repaying some of the commercial loans even before the commissioning of this facility. This reflects the commercial capability of the Group and its Chairman. I am pleased to inform everyone today that, following extensive repayments, outstanding debt has dropped appreciably from over US$9 billion to US$3 billion.”
The CBN Governor commended Nigerian banks saying they did not only partnered with the project through effective financing but were keenly aware of the importance of the project for our nation. “They provided immense support and exceptional understanding, even when interest payments and principal repayment had fallen due.”
He described the successful completion of the refinery to President Buhari’s astute vision to ensure that Nigeria produces what Nigerians consume and that we consume what we produce. “The refinery and petrochemical project by the Dangote Group is a testament to your vision for Nigeria. It shows that, regardless of what the world thinks, Nigeria can be self-sufficient in all products that we consume and at the same time export our excess output to the rest of the world.”
“Aside enumerating our strategic efforts in the agriculture and other critical sectors, a sterling projects that we highlighted was the gigantic Dangote Refinery and Petrochemical project. The world doubted our willpower to succeed with this project. In hindsight, I could appreciate their skepticism because they do not understand how a single individual could build a refinery capable of serving an entire nation. To them, projects of this magnitude are usually only undertaken by sovereigns not individuals.”
Group Managing Director of the Nigerian National Petroleum Company Ltd (NNPC), Mele Kolo Kyari said the NNPC was happy to partner Dangote Refinery because the project has potentials for smooth supply of petroleum and it would guarantee healthy competition for the benefits of the nation’s economy.
He said the NNPC Ltd. was committed to value addition to the potentials of the project noting that the new Petroleum Industry Act will provide security of supply of refined products and protect the plant. The NNPC boss added that his was happy the refinery is coming on board at a time the subsidy on imported products has become unbearable for government.
In their respective goodwill messages, Presidents of Ghana, Senegal, Niger, Benin Republic and Chad expressed satisfaction that the Dangote Refinery will serve the West African region and that their countries would be beneficiaries saying the Dangote Refiner is an African company for Africa by an African entrepreneur.
