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NEITI’s Reveals 2021 Solid Minerals Government Earnings

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In a significant disclosure, Nigeria Extractive Industries Transparency Initiative (NEITI) has reveals the government’s earnings from solid minerals in 2021, offering insight into a vital economic sector.

 

According to NEITI, In 2021, the Federal Government of Nigeria generated N193.59 billion from the solid minerals sector.

 

Between 2007 and 2021, the sector contributed a total of N814.59 billion, with 2021 marking the highest earnings.

 

This information was disclosed by the Nigeria Extractive Industries Transparency Initiative (NEITI) during the unveiling of its 2021 Solid Minerals Industry Report in Abuja tagged: “Impact built on blocking leakages to grow revenue’’.

 

Senator George Akume, the Secretary to the Government of the Federation (SGF), was represented by Dr. Maurice Mbaeri, Permanent Secretary, General Services Office, SGF, during the report’s unveiling.

 

Dr. Maurice Mbaeri, Permanent Secretary of the General Services Office under the SGF, represented Senator George Akume during the event.

 

This 12th edition of the report encompasses actual payments made by 1,214 companies within the sector, as well as receipts from three vital government agencies.

 

The report also delves into the quantities of minerals produced, utilized, and exported from the sector, while providing reconciled data on physical and financial transactions.

 

Additionally, it includes special verifications of certain processes within the solid minerals industry.

 

During the report presentation, Orji Ogbonnaya Orji, the Executive Secretary of NEITI, highlighted that the figures indicated a significant increase of N60.32 billion or 51.89 percent growth compared to the 2020 revenue of N116.82 billion.

 

This positive trend, he noted, signifies a consistent upward trajectory observed in the sector over the past five years.

 

He said “This contribution, though a significant increase over past years, is still abysmal considering the potentials of the sector to the Nigerian economy,”

 

Orji explained that the 2021 Solid Minerals report thoroughly reviewed, ascertained, reconciled, and reported all revenues and investment flows associated with the government’s involvement in the solid minerals sector.

 

Additionally, the NEITI report encompassed tracking balances payable and receivable from financial inflows while monitoring the allocation and utilization of funds intended for the development of Nigeria’s solid minerals industry.

 

Orji clarified that these funds encompass various initiatives, such as the Natural Resources Development Fund, Solid Minerals Development Fund, the Ministry of Mines and Steel Development’s MinDiver Programme, and the Solid Minerals Development Funds administered through the Small and Medium Industries Equity Investment Scheme, which operates in partnership with the Bank of Industry.

 

Breaking down the revenues, it was revealed that the Federal Inland Revenue Service collected N169.52 billion, the Mining Cadastre Office generated N4.3 billion, and the Mining Inspectorate Department generated N3.62 billion.

 

Orji noted that the revenue deposited into the federation account from the sector over the past 15 years, totaling N818.04 billion, was considerably low when considering the sector’s economic potential.

 

Regarding production, the report disclosed that the total volume of solid minerals used or sold in 2021 amounted to 76.28 million tons, resulting in a royalty payment of N3.57 billion.

 

He said “The minerals with the largest production volume in the year under review are Granite, Limestone, Laterite, Clay and Sand.

“Dangote Plc accounted for the highest production with a total production of 28.8 million tons. Bua and Lafarge accounted for 8.4 and 4.3 million tons while Zeberced accounted for 3.3 million tons respectively.

 

“Ogun state recorded the highest production in the year under review, with a total of 17.5 million tons followed by Kogi state with 16.3 million tons and Edo with 8 million tons.

 

“The least production volume was recorded in Borno State with 25,500 tons,” he added

 

Orji provided further details, mentioning that a total of 2,045 licenses were issued, including 840 exploration licenses (reflecting a 62.79 percent increase), 771 Small Scale Mining Leases, 255 Quarry Leases, 139 Reconnaissance Permits, and 40 Mining Leases.

 

Regarding exports, he highlighted that the total minerals exported in 2021 amounted to 142.54 million tons, with a Free on Board (FOB) value of US$101.29 million. This represented a substantial increase of 138.57 percent compared to the US$42.46 million reported in the 2020 report.

 

China emerged as the primary destination for Nigeria’s mineral exports, representing 97 percent of the export volume and 88 percent of the export value.

 

Additionally, Nigeria’s minerals found their way to other destinations, including Malaysia, Korea, Thailand, and the United Arab Emirates.

 

In terms of the solid minerals sector’s contribution to the economy, Orji mentioned that the report indicated a contribution of 0.63 percent to the Gross Domestic Product (GDP).

 

This showed improvement when compared to previous years, where the sector contributed 0.45 percent in 2020 and 0.26 percent in 2019.

 

 

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Content Creation Can Buy 4 Lamborghini’s – Comedian Josh2Funny Reveals

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Nigerian comedian and popular skit maker, Chibuike Josh Alfred, known by his stage name Josh2Funny, has shed light on the profitability of the content-creating industry.

In a recent interview with Echo Room, Josh2Funny highlighted the impressive financial potential that content creators can achieve, noting that it is possible for them to comfortably afford multiple luxury cars, including up to four Lamborghini vehicles.

Speaking candidly, Josh2Funny emphasised that content creation has become an extremely lucrative field due to the constant demand for fresh and engaging material. “If you want to buy four Lamborghini from content creation, you can buy it,” he said.

His remarks underscore the significant revenue opportunities available in the digital content landscape.

Josh2Funny explained that the continuous consumption of online content is what drives its profitability. “What do you think we are doing in the content-creating industry? Are we joking? You all are with your phones, when you’re in the bathroom, when you’re [using the restroom], you’re consuming our stuff. It’s like pure water,” he stated.

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The comedian further elaborated that businesses or industries that deliver products consumed on a daily basis often see the most substantial financial returns. Content creation, with its high rate of daily consumption by audiences worldwide, aligns perfectly with this model.

“People are out there, consuming our content every time,” he said, reinforcing the idea that the reach and influence of content creators have never been more extensive.

Josh2Funny’s insights reveal why the content-creating industry has become a lucrative career path for many in Nigeria and around the world. With the continuous growth of social media platforms and the public’s insatiable appetite for entertainment and relatable content, creators are finding new and innovative ways to monetize their craft.

This shift not only highlights the potential for significant financial gain but also showcases the evolving landscape of digital media, where influencers, comedians, and skit makers can turn creativity into a sustainable and highly rewarding business.

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NIVEA Black & White Invisible Roll On Deodorant Batch No. 93529610 Not On Sale in Nigeria

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A safety alert notification by the National Agency for Food and Drug Administration and Control (NAFDAC) in Nigeria issued on October 31, 2024, regarding NIVEA BLACK & WHITE Invisible Roll-on deodorant (50 ml) batch number 93529610, in relation to the general European Union (EU) Rapid Alert System for Dangerous Non-Food Products (RAPEX), has come to our attention.

The batch is said to contain 2-(4-tert-Butylbenzyl propionaldehyde (BMHCA).

In a statement on Saturday, in Lagos, Beiersdorf, the owner of NIVEA brand, assured that the “the Batch No. 93529610 in question has not been marketed in Nigeria and thus never recalled”.

According to the statement, Beiersdorf was well informed that “Based on current European legislation, the use of ingredient 2-(4-tert-Butylbenzyl propionaldehyde (LilialTM) in cosmetic products has been banned from the European markets as of March 1, 2022.”

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It acknowledged that “The batch in question, in fact, expired in January 2022 and was hence at the time fully compliant with the then valid European cosmetic regulation.

“As a responsible corporate citizen, Beiersdorf is working collaboratively with NAFDAC to safeguard the interest of the Nigerian consumers by ensuring that our locally manufactured product meets the global quality standards.”

It maintained that “The safety of our consumers remains our highest priority, consistent with our ethical philosophy as a business.”

In pursuit of this commitment, Beiersdorf’s entire NIVEA product portfolio formulations have been reformulated to be Lilial-free formulas in full compliance with the EU Regulation on cosmetic products well ahead of its Lilial ban coming into effect as far back as March 1, 2022. For instance, the formulation of NIVEA BLACK & WHITE Invisible Roll-on deodorant has been Lilial-free since at least 2020 across the globe, including Nigeria.

“Our trade partners were informed ahead of time and reminded of their responsibility to remove the outdated Lilial-containing products within the legal timeframe to fulfill their obligations with the European Cosmetic Product Regulation,” it added.

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Shell, NNPC Ltd, Others Gift Three Universities ICT Centre, Digital Library

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The Shell companies in Nigeria teamed up with the Nigerian National Petroleum Company Limited (NNPC Ltd) and other stakeholders to build Information Communication Technology (ICT) centres and a digital library in Nigerian universities in 2024.

Biztellers reports that it initiative is part of their continuing support for education.

Some of the corporate bodies that executed the projects include the Shell Nigeria Exploration Production Company Limited (SNEPCo) and NNPC Ltd, and the Nigerian Content Monitoring and Development Board (NCDMB).

The benefiting institutions were, the Niger Delta University, Amassoma, Bayelsa State, which got a digital library in April, the Sa’adu Zungur University (formerly Bauchi State University), Gadau in Bauchi State, where an ICT Centre was commissioned in July, by The Shell Petroleum Development Company of Nigeria Ltd (SPDC) as part of the Joint Venture with NNPC, TotalEnergies and NAOC.

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In what would sound like singing-off on the educational intervention initiative for 2024, the Federal University of Technology, Owerri (FUTO), overflew with joy at the unveil of a world-class engineering design studios and ICT hub, courtesy of the SPDC, NNPC Ltd and other Joint Venture partners collaborated with NCDMB.

Reflecting on the three facilities, Country Chair, Shell Companies in Nigeria, and Managing Director, SPDC, Osagie Okunbor, said, “This is Shell working to power lives in Nigeria. The projects have changed the academic and physical landscapes in the three universities and linked the students and lecturers to the global learning arena.”

The facilities at FUTO include two state-of-the-art engineering design studios and a fully furnished 100-seater ICT lecture hall, equipped with computers and smartboards with dedicated power and water supplies. FUTO was selected for the project as part of the “institutional strengthening” in the catchment area of SPDC’s Assa North Ohaji South Gas Development Project. They were launched at a colourful ceremony attended by representatives of the Imo State Government and principal officers of the university.

Imo State Governor, Hope Uzodinma, represented by the Commissioner for Digital Economy and E-Government, Dr. Chimezie Amadi, said, “We deeply appreciate the efforts of our partners in NNPC, SPDC, Total Energies, and NAOC JV, who have invested in the future of Imo State by supporting this critical project. Your commitment to human capacity building aligns perfectly with our goals, and together, we will continue to drive innovation, skills development, and sustainable economic growth for our people.”

Okunbor’s address at the commissioning was read by General Manager, External Relations, Igo Weli, in which he expressed happiness “that the collaboration of SPDC, Joint venture partners, NCDMB, and FUTO has resulted in this successful social investment project that demonstrates our commitment to improving access to quality education for every Nigerian.”

On his part, the Executive Secretary NCDMB, Engr. Felix Omatsola Ogbe, called on Nigerian institutions to domesticate the advancements in AI and other technologies.

“Our AI must understand Igbo, Hausa, Efik, Yoruba, and other local languages,” he said, speaking through Dr. Ama Ikuru, the Director in charge of Capacity Building.

“We must leapfrog the innovations of other nations and become a net exporter of advanced technology to achieve the lofty ideals of Nigerian content development,” he added.

The Chief Upstream Investment Officer, NNPC Upstream Investment Management Services, Bala Wunti, said in his address which was read by the Senior Advisor Stakeholders Relations, Halimat Wilson, “Innovation thrives in an environment where ideas can be freely exchanged and developed. The Engineering Studio and ICT Hub is designed to be such a place where students, researchers, and faculty can collaborate on projects, share knowledge, and push the boundaries of what is possible.

Welcoming guests earlier, FUTO Vice Chancellor, Prof Nnenna Oti, thanked the sponsors of the project “for a landmark donation” to the university.

The Shell Companies in Nigeria have been education since the 1950s through scholarships and other initiatives. These efforts have resulted in the award of thousands of secondary, undergraduate and postgraduate scholarship awards, provision of educational infrastructure and establishment of sabbatical and internship programmes as well as centres of excellence in several universities.

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