Business
PMB Hails CACOVID for Donating 350 Security Vehicles
…says Coalition made him proud over Covid-19 response
As the private sector-led Coalition Against Covid-19 (CACOVID) winds down, President Muhammadu Buhari has commended the initiative of private sector operators, saying the contributions he has received from the Coalition so far has elevated his status among other Presidents of the world.
The President, who spoke in Abuja yesterday while receiving a parting donation of N12 billion security equipment for the Military and the Nigeria Police from the leadership of CACOVID said his government had received so much support from the private sector in addressing social ills in the country.
Items handed over to the President by the Coalition members included 100 Tata 14 ton Troop carriers, 100 Tata 12 ton Troop carriers, 86 Toyota pick-up trucks, 64 Nissan Navara pick-up trucks with their spare parts, 13,000 helmets as well as 13,000 bullet proof vests.
It would be recalled that the World Health Organisation (WHO) had also rated CACOVID as the third largest contributor in the world to the fight against Covid-19 virus, the outbreak of which in 2020 brought the world to its knees.
An excited President Buhari while thanking the CACOVID on behalf of the Military and the Police said: “Today is indeed a very happy day for all Nigerians, and I can happily say that I am the envy of many Presidents in the world. I am exceedingly honoured to be the President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria, at this time.
“I am gratified to have the honour of leading a country whose private sector willingly galvanises itself to raise funds to enthusiastically support government in resolving social ills. I am proud to say that there is nowhere in the entire world, except in Nigeria, where the private sector has voluntarily come together to assist government efforts.
“Thank you for supporting our Administration’s efforts to strengthen the Police and Military as we face the security challenges that all modern nations face”, Buhari added, noting that such a patriotic gesture was proof that nationalistic determination is still alive in Nigeria, in the face of enormous challenges pervading the world and the country.
Speaking while handing over the items, Chairman of the Aliko Dangote Foundation (ADF), Aliko Dangote, a foremost industrialist who initiated the Coalition with the Group Managing Director of Access Bank Plc, Herbert Wigwe, explained that the Coalition was winding down with the latest donation.
He listed other business leaders brought together under CACOVID to include Mrs. Folorunsho Alakija, Tony Elumelu, Jim Ovia, Segun Agbaje, Abdulsamad Rabiu, Femi Otedola, Adesola Adedotun, Karl Toriola, Haresh Aswani, Raj Gupta, and John Coumantaros, all of who contributed several billions of Naira each and supported the CACOVID effort with advocacy. In all, according to him, over 100 organisations and private individuals contributed to CACOVID.
Mr. Dangote gave reason for the donation saying that as the worst of the Covid crisis waned in Nigeria, the security situation deteriorated, partly due to economic disruptions caused by the shutdown of the global and national economy.
Therefore, to provide additional response support to the Government, the ADF Chairman said CACOVID embarked on another fundraising effort, which enabled it to purchase the items for the Police and the Military.
Recalling the birth of CACOVID, Dangote explained that the Coalition as a timely response to the outbreak of the deadly covid-19 virus was borne out of the previous experience with Ebola elsewhere in West Africa, which made him to recognise the fact that the potential crisis looming was very serious
“And so together with Herbert Wigwe, we set up CACOVID and drafted our peers in the private sector to join our efforts. The CBN Governor joined our efforts very early and chaired the group. We knew straight away that we had a responsibility to act and support the efforts of Government as quickly as possible to avert disaster”, Dangote noted.
Dangote continued; “In addition to the leadership team, we set up a technical committee to guide our purchasing decisions, which was critical, given the prevailing confusion around testing and treatment options, and the lack of successful models anywhere in the world. Members of that committee included leading Nigerian scientists and public health professionals, the DG of NCDC, DG of the Presidential Task force on Covid-19, representatives of WHO, BMGF and the UN.
“In addition, a core team of select staff members from our organisations manned the initiative’s operations Centre 7 days a week for several months planning, coordinating, and delivering on the various activities of the coalition.”
While enumerating all the supports the Coalition has offered the nation in the last two years, Dangote disclosed that the group mobilised its members and raised N62 billion to provide 39 fully kitted isolation centers in all 36 States and FCT; Testing Supplies for almost 1 million tests; Food for 10 million vulnerable individuals across the country; Oxygen and tanks to the most affected states; Support for vaccines delivery and distribution across the Nation; Support to re-open the economy (Travel Portal, IT, airport scanners/PPE and other support) with communications and advocacy campaigns around prevention and against disinformation.
According to Dangote, the donation marks the end of the CACOVID initiative “as we wind down what has been deemed an example of patriotism, solidarity and efficiency in terms of partnership between the public and private sectors. This is a lesson in the power of collaboration for a worthy cause.
“Thank you to my partners on this CACOVID journey. I would like to especially thank the Presidential Covid-19 team led by SGF Mr. Boss Mustapha for their excellent collaboration. My gratitude goes to Mr. President for your unwavering support and that of your entire Government.”
Also speaking on the activities of CACOVID, Mr. Godwin Emefiele, Central Bank Governor, who led the CACOVID Committee told the President he was proud to be part of the Coalition that supported government in its fight against insecurity.
“I am immensely gratified by what CACOVID has achieved in its few years of existence. The nationalist and patriotic drive of my colleagues therein is unmatched anywhere in the world and must be applauded. The Coalition is a good example of what Nigeria must become: a nation of patriotic solidarity of individuals and corporations, and effective collaboration of the public and private sectors,” he said.
Following the marginal reduction of the pump prices of premium motor spirit (PMS) by the Dangote Petroleum Refinery and the Nigerian National Petrol Company Limited (NNPC Ltd), civil society groups have reacted by calling for further downward review.
Recall that the Dangote Petroleum Refinery had announced a partnership with MRS Oil and Gas to offer petrol at N935 per litre at retail outlets, while it reviewed the ex-depot price from N970 to N899.50 per litre.
The move, saw state oil major, the Nigeria National Petroleum Company peg its retail prices at N965/litre.
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However, the civil society groups are of the opinion that the price reduction, fall short of expectations.
According to the Chairman, Centre for Accountability and Open Leadership, Debo Adeniran, the reduced price of N935/litre was still expensive and unsatisfactory.
He pointed out that petrol was just one of the products coming out of crude and that both government and private business could still give out free petrol to citizens while making huge profits from the other products.
In his words, “Well, we believe that if NNPC and the private sector actually give out PMS for free, they will still not run their business at a loss, because the other derivatives of petroleum products can still serve them, and can still make them to break even. So, even at that N900 and something, it’s still expensive.
“Dangote has kind of mooted the idea that it could drop to as low as N650. And if he has mulled this, then it means that it is the state, it is the NNPC that will have been the clog in the wheel of such progress. And you know also that we expected that fuel prices, especially PMS prices, will drop below N200 when Dangote was expected to come on stream.
“So, it’s unfortunate that we are still talking about over N900 and they want us to jump up and rejoice for that. That is not satisfactory. They should just let us see the breakdown of their production cost and why it’s still there. I mean, there are countries like Libya under Gaddafi that gave out PMS for free and they didn’t run anything at any loss. So, I believe that it can still go further down.”
On his part, the Executive Director of the Civil Society Legislative Advocacy Centre, Ibrahim Rafsanjani, commended the reduction of fuel prices by the NNPC and Dangote, but said the government could still reduce the price.
“Dangote’s own is about N899 or something like that. Well first and foremost, we are happy that there is a little reduction in the prices. But also based on analysis and based on facts and evidences, we believe that it is possible for the Nigerian government to further reduce the prices.
“Because if a private company can reduce the price and it still makes profit, we wonder why government-owned enterprises cannot really pity its citizens,” he said.
The Central Bank of Nigeria (CBN) has announced a significant growth in the country’s economy, with a 3.46% increase in gross domestic product (GDP) in the third quarter of 2024.
This marks the third consecutive quarter of expansion, up from 3.19% in Q2 2024 and 2.54% in Q3 2023.
According to the newly published Q3 economic report, Nigeria’s GDP output rose to ₦20.115 trillion, reflecting a notable improvement from ₦18.285 trillion in the previous quarter.
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The CBN attributed this growth primarily to the performance of the non-oil sector, which grew by 3.37% compared to 2.80% in Q2 2024.
The report highlighted transportation, crop production, and other sub-sectors such as financial & insurance services, information & communication, trade, and real estate as major contributors to the expansion.
The non-oil sector accounted for 3.18 percentage points of the total growth rate.
“The expansion of the non-oil sector was driven by the performance of the financial & insurance, information & communication, crop production, trade, transportation & storage, and real estate sub-sectors,” the report stated.
Despite the economic growth, challenges persist. Inflation, particularly in food prices, remains a significant concern, standing at 39.93% as of November 2024.
Rising food and energy costs have also impacted transportation expenses, with intercity bus fares increasing by 20.23% year-on-year to ₦7,117.17 in July 2024, according to the National Bureau of Statistics.
Furthermore, the cost of petroleum, now exceeding ₦1,000 per litre, has driven up logistics and transportation expenses, adding pressure to households and businesses alike.
The CBN acknowledged these challenges, noting that the growth was achieved despite headwinds such as high inflation and rising operational costs.
Enhanced security measures in the Niger Delta have boosted domestic crude oil production, while restrictive monetary policies have helped moderate inflation in some areas.
“The growth recorded in the country is a result of continued efforts to improve the business environment, streamline cumbersome business processes, and deepen the quality of business infrastructure,” the CBN noted.
However, the report comes amid concerns over businesses exiting Nigeria due to persistent economic challenges.
Asharami Synergy, a leading downstream energy solutions provider, has demonstrated its commitment to community development and education by donating essential furniture to Gaskiya Junior School in Ijora, Lagos, Nigeria.
Biztellers reports that the social responsibility initiative was executed in collaboration with Sahara Group Foundation – the social impact vehicle of global energy conglomerate, Sahara Group.
It was gathered that the initiative is part of Asharami Synergy’s ongoing efforts to support education in communities.
The donation includes classroom desks and chairs for the JSS1 classes.
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CEO of Asharami Synergy, Nomnso Dike, said the project will create a more comfortable and functional learning environment and enhance student performance.
“We are delighted at the opportunity to support the attainment of Sustainable Development Goal (SDG) 4, which focuses on ensuring inclusive and equitable quality education. It has been a privilege to collaborate with the management and students of Gaskiya Junior School to deliver this project, and we look forward to future opportunities to enhance academic performance in this historic institution,” Dike said.
According to him, Asharami Synergy’s education-focused social impact initiatives have benefitted over 10,000 individuals. They focus on building capacity and providing the resources necessary to help students learn and grow sustainably.
“Education is the foundation of a brighter future, and at Asharami Synergy, we believe that every child deserves a learning environment that inspires and empowers them” he noted, adding, “This donation is not just about providing furniture; it’s a reminder to the students that their dreams are valid, and we are committed to helping them achieve their goals.”
Vice Principal Academic of Gaskiya Junior School, Sola Oladokun, commended Asharami Synergy for the donation, noting that it would inspire students to perform better with “increased concentration and fewer distractions”.
“These desks and chairs are a game-changer for our students. It’s heartwarming to see their excitement, and as teachers, we are equally thrilled because this will make teaching and learning more effective. We are incredibly grateful to Asharami Synergy and Sahara Group Foundation for this thoughtful intervention,” she added.
Two representatives of the students, Akin Moses and Chukwudi Gift, at the event said the donation would increase their “desire to dream bigger and concentrate better during lessons”.
Also speaking at the commissioning, COO at Asharami Synergy, Adekanmi Adesola, said, “What started as an opportunity to support the communities that host our operations has now come full circle. This donation directly impacts the lives of these students, and we are proud to bring smiles to the faces of the students and teachers.”
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