Business
Economic Hardship: Dangote Foundation Succors Ogun Host Communities With 40,000 Bags Of Rice
The Aliko Dangote Foundation (ADF)’s N15 billion National Food Intervention programme has landed in Yewa land, Ogun State with 40,000 bags of rice.
It was gathered that this was distributed among the 17 host communities of the Dangote Cement, Ibese plant, along with Itori, Igbogila, and Ilaro.
According to sources at ADF, beneficiaries in Ibese and Araromi were accredited and received one bag each at the palace of Aboro of Ibeseland, Oba Rotimi Mulero.
The source added that Ijebu-Igbo, the host communities to Dangote Granite Mines would soon receive their allocation as the rice for the area has been delivered in preparation for distribution.
Recall that Chairman, ADF and President of Dangote Group, Aliko Dangote, launched the food intervention programme in Kano in March, promising that the Foundation will distribute over one million 10kg bags across the 774 local government areas of the 36 states and Federal Capital Territory, FCT in Nigeria at a cost of about N15 billion.
The Aboro of Ibeseland expressed gratitude on behalf of his communities to the Foundation for its benevolence in distributing rice at this time of economic challenge, saying the gesture would benefit many households where staple food like rice has become scarce.
He likened Dangote’s initiative to Operation Feed the Nation (OFN), introduced by the military government of Chief Olusegun Obasanjo over 46 years ago to revitalize agriculture and ensure food availability for all Nigerians.
Oba Mulero stated, “we are grateful to Alhaji Aliko Dangote. The rice gift is very impressive given the current situation in the country. We really appreciate him. What he has done can be likened to Operation Feed the Nation of those days. That is what I will call it. He has done well to decide to feed the people. Everybody is vulnerable now in this country.”
He continued, “What Alhaji Dangote is doing is worthy of emulation by other well-meaning Nigerians. When food is out of the problem equation, the equation is easy to solve. We are using this opportunity to thank him for this gesture. You can see the way my people are happily receiving it. We pray to God to continue to uplift him.”
The Aboro of Ibese commended Dangote for his job creation efforts through investments. He said the rice distribution to the people of Ibese is like the icing on the cake as the Cement Plant sited in the community has absorbed some of the host communities’ indigenes and that the food palliative would go a long way to cushion the effect of the economic hardship.
He pledged the support of the people to the Dangote Cement, Ibese plant to ensure the company operates in an atmosphere of peace and tranquillity so that the company can continue to benefit the host communities.
One of the beneficiaries, Odunfa Ayodele Adams, an indigene of Ibese on behalf of others expressed appreciation to the ADF. He said it was the first time such a programme would be brought to the Ibese community and prayed to God to give Alhaji Dangote long life to do more for the society.
It would be recalled that Alhaji Dangote while speaking during the flag-off ceremony of the programme explained that the initiative is a crucial step towards alleviating the ongoing economic challenges faced by the country.
He also emphasized the importance of compassion and generosity, stressing that all stakeholders must play a part in supporting the government to alleviate hunger in the land.
“Our distribution of rice symbolizes our commitment to upholding the values of compassion and solidarity, which are at the core of our humanity. ADF has decided to spearhead the food intervention programme,” he said.
On the modalities for distribution of the rice, Dangote said: “the modalities for the programme involve collaboration with state and local governments as well as local community partners to ensure effective delivery of the rice to the most vulnerable across the country, regardless of state, tribe, gender, religion, politics, or other attributes, “he added.
In her own remark then, the Chief Executive Officer of the ADF, Zouera Youssoufou said the rice distribution is in addition to the Foundation’s daily bread relief programme, that is producing and distributing over 32,000 family-size loaves of bread across Kano and Lagos States every day since 2020 following the outbreak of COVID-19 pandemic.
She said: “It is noteworthy that Dangote’s efforts in nutrition strengthening in Nigeria extend well beyond the foundation’s food relief programmes and nutrition activities. The Dangote Group has been actively investing in food fortification across the Nigerian food industry, with its iodized salt, vitamin A fortified sugar, while researches are on-going into micronutrient fortification of staples like rice, wheat, and bouillon cubes”.
. . . Calls For Establishment Of Special Court, Accelerated Hearing
In order for the oil and gas industry to achieve its full potential as an enabler of national economic and industrial growth, the Group Chief Executive Officer of the NNPC Limited, Mele Kyari, has called for the support of the judiciary in tackling the twin challenges of crude oil theft and pipeline vandalism.
Kyari made the call at the National Judges Capacity Building Workshop on the Petroleum Industry Act (PIA) 2021 organised by the National Judicial Institute (NJI) and INVESTIN 234, on Thursday in Abuja.
In a goodwill message he delivered at the workshop, the GCEO stated that the gains of the PIA have been severely undermined by crude oil theft and pipeline vandalism.
Consequently, Kyari urged the judiciary to consider the creation of a special court to try offences related to crude oil theft and pipeline vandalism or granting accelerated hearings to such cases.
According to him, the role of the judiciary was critical to the success of the efforts of the various security arrangements put in place by NNPC Ltd, the law enforcement agencies and other stakeholders in the industry.
“In particular, is the recommendation that a special court be created to try those offences as they hinge on our survival as a country, and/or for such trials to be conducted under an accelerated hearing process by the issuance of Practice Directions to that effect, with concomitant sanctions to deter would-be offenders,” Kyari stated.
The GCEO also called on the judiciary to accelerate hearing to criminal cases in their courts, through timely determination of the criminal charges and imposing adequate punishments and sanctions on culprits to serve as deterrence to others.
According to Kyari, the NNPC Ltd remains committed to collaborating with all relevant stakeholders to ensure the successful implementation of the PIA, adding that “together, we can ensure that the benefits of our natural resources are maximized for the economic and social development of our country”.
Kyari also commended the Chief Justice of the Federation, Olukayode Ariwoola and the organisers of the workshop for extending invitation to him and the opportunity to deliver a goodwill message at the workshop.
MultiChoice’s financial woes continue to deepen as the company records a staggering R4.1 billion ($222 million) loss for the fiscal year ending March 31, 2024, marking its bleakest financial performance in history.
The media giant has been declared technically insolvent amidst a 9% decline in active subscribers, with its operations in the Rest of Africa suffering a 13% decrease and South Africa seeing a 5% downturn.
Amidst these challenges, MultiChoice finds a glimmer of hope with its streaming service, Showmax, which experienced a promising 16% increase in paying subscribers following its February relaunch.
MultiChoice faced a challenging year with a 5% decline in group revenues, amounting to R56 billion, largely due to dwindling subscriber numbers and adverse foreign exchange rates.
This financial strain extended to a 21% reduction in group trading profit, plummeting to R7.9 billion.
The company’s latest financial statements paint a bleak picture, revealing a significant deterioration in performance.
MultiChoice reported a staggering 42% increase in losses, rising from R2.9 billion to R4.1 billion, marking its worst recorded performance.
Most concerning is MultiChoice’s declaration of technical insolvency, reflecting the severity of its financial predicament amidst ongoing operational challenges.
Singaporean business conglomerate, the Tolaram, has earned plaudits from President Bola Ahmed Tinubu, for believing in Nigeria and having absolute faith in her economy.
Tolaram, which partnered Nigeria to build the Lekki Free Trade Zone and the country’s first deep sea port, has acquired Diageo’s 58.02 percent shareholding in Guinness Nigeria Plc.
According to an announcement at the Nigerian Exchange on Tuesday, Tolaram will also enter into long-term license and royalty agreements for the continued production of the Guinness products and its locally manufactured Diageo ready-to-drink and mainstream brands.
President Tinubu said Tolaram, by acquiring Diageo’s shares in Guinness, had shown that it has a long-term view of doing business in Nigeria.
Biztellers reports that Tolaram has been doing business in Nigeria in the last 50 years.
According to a statement put out by the Special Adviser to the President on Information & Strategy, Bayo Onanuga, by choosing to expand its investment footprints in Nigeria, Tolaram has demonstrated strong faith and confidence in Nigeria’s economy.
He further averred that “President Tinubu welcomes Tolaram to the beverage sector of Nigeria’s business landscape and hopes the group’s business will continue to flourish.”
President Tinubu gives assurances to investors and Nigeria’s businesses, promising that his government will continue to make the operating environment more conducive and transparent.
“The multi-pronged reforms and interventions being implemented on the economic and financial fronts would deliver sustained growth and enduring profitability for investors,” he assured.
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