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World Bank Disburses $1bn Zero Interest For Lake Chad Region

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World Bank deploys $114.9 to finance global crises in 2022

 

The crises ridden Lake Chad region is about getting some reprieve, in the areas that money can solve, because the World Bank has made one billion dollars, in zero interest financing available for affected countries to manage the situation.

 

Country Manager, World Bank for Chad, Rasit Pertesv, expressed optimism that the amount would help tame insurgency, while announcing the intervention on Thursday, in N’Djamena, during the Fourth Lake Chad Governor’s Forum meeting.

 

Biztellers gathered that the forum is a coming together of the affected countries, made up of Chad, Cameroon, Niger, and Nigeria to synergise on solving the crises.

 

It is expected that they will take the opportunity to evaluate the dynamic patterns of the crises, which has given rise to widespread displacement, damaged the social fabric, and interrupted public services, in the face of weakened institutional capacities across the affected countries, which the $1bn is expected to address.

 

According to Pertesv the intervention is meant to assist the affected countries in stepping-up economic development, job creation, and improving the lives of people who had borne the brunt of the crises.

 

He maintained that the zero-interest financing from the International Development Association (IDA), provided support for two major regional development priorities which include the recovery of livelihoods to reduce the vulnerability of people living in Lake Chad

 

It would go a long way in expanding cross-border economic activity to spur greater opportunity and integration in the areas of agriculture, energy, transport, and regional trades, the country manager, added.

 

He commended the regional stability programme aimed at restoring and improving security in Lake Chad and called for redoubled efforts toward sustainable recovery in areas that were economically affected.

 

On his part, Executive Secretary, Lake Chad Basin Commission, Amb. Mamman Nuhu stressed that prevailing poverty, unemployment, and illiteracy created a susceptible environment for the extremist group’s ideology to spread rapidly among communities in the Lake Chad region.

 

The ES pointed out that that the region’s majority youth population, traditionally reliant on farming and cattle rearing, had their livelihoods disrupted, making them vulnerable to Boko Haram’s propaganda.

 

“Since the development of the Regional Strategy for Stabilisation, Recovery, and Resilience (RS-SRR) in 2018, the strategy has acted as a regional architecture for responding to the complex security, humanitarian and development issues plaguing the region.

 

“It emphasises the need for a comprehensive, multi-sectoral, and coordinated set of sub-national, national, and cross-border initiatives to achieve long-term stabilization, recovery, and resilience.

 

“As a result, several initiatives and programmes have sprung up to facilitate regional cooperation, respond to humanitarian needs, and foster peace and development in the region, one of which is the Lake Chad Basin Governors’ Forum,” Nuhu said.

 

In the same vein, Commissioner for Political Affairs, Peace and Security, African Union Commission, Amb. Adeoye Bankole, described the Lake Chad Basin Governors Forum is an essential platform for promoting sustainable regional peace and security in the region.

 

“The African Union encourages further collaboration among member states and international partners to support the forum’s efforts towards consolidating peace in the region and creating better opportunities for the people of the Lake Chad Basin,” he added.

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Adeleke Settles Late Public Servants’ Next of Kin

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Osun State Governor, Senator Ademola Adeleke has disbursed a total of Two Hundred and Four Million, Two Hundred and Seventy-five Thousand, two hundred and nine naira and eighty kobo (N204,275,209.80) to the next of kin of all staff who died in active service.

According to a government house statement in Osogbo on Monday, the disbursement covers all those, whose documentations have been completed in the Pension Office.

It added that the disbursement was made up of One Hundred and Twenty-Five Million, Six Hundred and Thirty-One Thousand, Eighty-Three Naira, Forty-Five Kobo (#125,631,083.45) for the State level beneficiaries and Seventy-Eight Million, Six Hundred Fort-Four Thousand, One Hundred and Twenty-Six Naira, Thirty-Five Kobo (#78,644,126.35) for Local Government level beneficiaries.

It was gathered that from 2023 to date, the administration had paid a total of Eight Hundred and Eighty-two Million, Seven Hundred and Fifty-Two Thousand, Seven Hundred and Seventeen Naira, Fifty Kobo (₦882,752,717.50) to a total of One Hundred and Eighty-Four (184) beneficiaries across the entire gamut of the public service.

Under the personal accident insurance scheme, the administration had approved and released a total of One Billion, Eight Hundred and Sixty-Six Million, Seven Hundred and Nineteen Thousand, One Hundred and Twenty-Three Naira, Fifteen Kobo (₦1,866,719,123.15) being the outstanding claims of the Five Hundred and Sixty-three (563) beneficiaries covering September 2013 to 1st of August 2023.

The sharing of cheques for the new beneficiaries was held today at Osogbo with the Head of Service, Elder Ayanleye Aina representing the state governor.

In the address of the governor presented by the Head of Service, Governor Adeleke reiterated that his commitment to workers and pensioners’welfare remain unshaken despite the financial challenges facing the state, adding that “what my predecessor failed to implement is what I am executing now.

“When we stated clearly in our 5 – point Action Plan, our desire to make the welfare of the workforce and the pensioners No. 1 priority, our detractors made jest of us, describing the pledge as an impossibility. Today, to the glory of God, we have made significant progress as a talk and do administration”, the governor noted.

He explained that the Group Life Assurance Policy, under the Contributory Pension Scheme (CPS) 2008, Section 15, is designed to cater for death-in-service benefits for Osun State workforce, describing the refusal of the previous government to commit to its settlement as inhumane and uncharitable.

ALSO READ: DIL Named Africa’s Most Admired Brand for 8th Consecutive Year

The governor faulted the previous administration for foisting and condoning irregularities in the payment of Premium to the Insurance Company for the settlement of claims to the beneficiaries.

To correct the anomalies, Governor Adeleke said his administration approved the engagement of VALANIS Insurance Brokers Ltd., as the lead Broker while Capital Express Assurance Plc was engaged as the Lead Insurance Underwriter in August 2023.

“Since then, my Administration had paid a total of Eight Hundred and Eighty-two Million, Seven Hundred and Fifty-Two Thousand, Seven Hundred and Seventeen Naira, Fifty Kobo (₦882,752,717.50) to a total of One Hundred and Eighty-Four (184) beneficiaries across the entire gamut of the public service.

“It is also heartwarming that the Insurance Company has added another package known as Personal Accident Insurance (PAI) to the Group Life Assurance Scheme for the State Workforce, which is a free package. Under this package, each officer of the workforce, no matter the Grade Level, is entitled to a sum of One Million (N1,000,000.00) Naira only, for the payment of Medical Expenses for all accidents resulting in bodily injuries.

“This new addition is no doubt a reflection of my commitment to the welfare of all staff in the Public Service. Three (3) of our insured workers had benefitted from this policy to the tune of millions naira.

“As an advocate of politics without bitterness and as one who is committed to the welfare of the entire workforce, dead or alive, I have approved and released a total of One Billion, Eight Hundred and Sixty-Six Million, Seven Hundred and Nineteen Thousand, One Hundred and Twenty-Three Naira, Fifteen Kobo (₦1,866,719,123.15) being the outstanding claims of the Five Hundred and Sixty-three (563) beneficiaries covering September 2013 to 1st of August 2023.

“This was what our predecessors failed to do thereby making life difficult for the beneficiaries.

“Despite our present financial challenges, we have continued to fulfil our electioneering campaign promises on staff welfare and funding of the pension industry.

“This morning, cheques of Two Hundred and Four Million, Two Hundred and Seventy-five Thousand, two hundred and nine naira and eighty kobo (N204,275,209.80) will be distributed to the beneficiaries. This made up of One Hundred and Twenty-Five Million, Six Hundred and Thirty-One Thousand, Eighty-Three Naira, Forty-Five Kobo (#125,631,083.45) for the State level beneficiaries and Seventy-Eight Million, Six Hundred and Forty-Four Thousand, One Hundred and Twenty-Six Naira, Thirty-Five Kobo (#78,644,126.35) for Local Government level beneficiaries”, the governor told the elated beneficiaries.

Responding on behalf of other beneficiaries, Alhaji M.K. Bello, a retired Director of Administration, commended Governor Ademola Adeleke for approving the reorganisation and disbursement of the cheques, describing the Governor as God-sent.

According to him, “the holistic attention to workers’ Welfare by Governor Adeleke is unprecedented in the history of Osun governance”, adding “we are grateful”.

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DIL Named Africa’s Most Admired Brand for 8th Consecutive Year

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Dangote Industries Limited (DIL) has reinforced its position as Africa’s most influential corporate brands after emerging as the continent’s Most Admired African Brand for the eighth consecutive year.

In the same vein, its Group Chief Branding and Communications Officer, Anthony Chiejina, was named among Africa’s 100 Most Influential Chief Marketing Officers.

The recognition was announced at the 16th annual Brand Africa 100: Africa’s Best Brands rankings unveiled in Addis Ababa, Ethiopia. The survey, regarded as Africa’s most comprehensive consumer-led brand study, covered 30 countries representing more than 85 per cent of the continent’s population and economic output.

In the latest rankings, the DIL emerged as Africa’s Most Admired Brand in aided recall, ahead of South Africa’s MTN and Vodacom. In the spontaneous recall category, it ranked second among African brands, behind MTN and ahead of Trade Kings.
The Group also retained its position as Africa’s Most Admired Industrial Brand and was ranked the No. 1 African Brand Contributing to a Better Africa, ahead of MTN, DStv, Shoprite/Checkers and Trade Kings, reflecting its significant contribution to industrialisation, job creation, economic development and sustainable growth across the continent.

The rankings show Dangote’s growing influence as one of Africa’s most recognisable corporate brands, built on investments spanning cement, fertiliser, petrochemicals, energy, sugar, salt, packaging and logistics.

Brand Africa noted that despite a modest rebound in African brand recognition, homegrown brands still account for only 15 per cent of Africa’s 100 most admired brands, highlighting the continued dominance of foreign brands across the continent.

Brand Africa Founder and Chairman, Thebe Ikalafeng, described the promotion and support of African brands as a critical economic imperative for the continent.

“Converting goodwill towards African contribution into admiration for African brands is the most urgent commercial opportunity for the continent. It is not enough for Africans to believe in Africa, they must buy Made-in-Africa,” he said.

ALSO READ: Foreign Training Induced Industrial Action Engulfs NUPRC

The survey also ranked Dangote among Africa’s leading brands in sustainability and social impact, placing second in the category of brands recognised for doing good for society, people and the environment.

Despite the dominance of global brands across Africa, Dangote has cemented its position as one of the continent’s leading corporate brands, alongside MTN and Ethiopian Airlines.

The three emerged as the highest ranked African brands in the 2026 Brand Africa rankings, standing out on a list dominated by global names such as Nike, Adidas, Samsung, Apple and Coca-Cola. The achievement is notable given that African brands accounted for just 15 per cent of the Top 100 rankings, compared with 38 per cent for European brands, 28 per cent for North American brands and 19 per cent for Asian brands.

Further strengthening the Group’s standing, its Group Chief Branding and Communications Officer, Anthony Chiejina, was selected for the inaugural Africa CMO 100 (ACMO100) list, which recognises the continent’s most impactful marketing, brand and reputation leaders.

The ACMO100 initiative, launched by Brand Africa in partnership with African Business magazine, MIPAD and the African Media Agency, honours marketing executives whose work is shaping Africa’s business narrative, strengthening brand equity and driving economic growth across the continent and the diaspora.

Chiejina was among only 20 executives selected from West Africa and one of 17 Nigerians recognised for their contribution to brand building, corporate reputation management and strategic communications.

According to Brand Africa, the selection process was based on independent research, industry impact, leadership influence and contribution to the growth of brands that shape consumer perceptions and economic outcomes across Africa.

The latest recognition adds to a growing list of honours for Dangote Industries, which was inducted into the Brand Africa Hall of Fame last year for consistently ranking among Africa’s most admired brands over more than a decade. Its President and Chief Executive, Aliko Dangote, was also honoured with a Lifetime Achievement Award for championing industrialisation and building one of Africa’s most successful indigenous enterprises.

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Foreign Training Induced Industrial Action Engulfs NUPRC

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Persistent disagreements involving foreign training placements have escalated to trade disputes with the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), shutting down the operations of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), which forced the regulator to suspend operations nationwide.

Members of the PENGASSAN blocked entrances and halted administrative functions, demanding clarity on training allocations and alleging favoritism in who was chosen for overseas programmes.

It was gathered that the PENGASSAN embarked on an indefinite nationwide strike, shutting down all commission offices across Nigeria, because of a dispute over foreign training.

ALSO READ: Savannah Energy Posts Strong Four-Month Performance
The industrial action, which commenced on Monday, led to a total shutdown of regulatory activities at NUPRC headquarters in Abuja and all field offices nationwide, effectively grounding administrative and operational functions of the upstream petroleum regulator.

Sources familiar with the development said the strike followed the breakdown of negotiations between the union and management over the handling of staff training programmes, particularly the commission’s position that capacity-building should be conducted locally rather than through overseas training.

According to the sources, management had insisted that training programmes particularly for Factory Acceptance Test for Positive Displacement (PD) Meters be domestically delivered within Nigeria to reduce cost and strengthen local institutional capacity, a stance the workers reportedly rejected.

A security source said that representatives of the parties are presently meeting at the office of the National Security Adviser where a resolution will likely be reached today.

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