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Unity Bank Plc, a retail lender in Nigeria, is determined to prioritize recapitalization and asset creation in response to the prevailing foreign exchange revaluation in the financial system. The bank's Managing Director, Tomi Somefun, acknowledged the disruptions and impact on the bank's financial positions due to the depreciation of the Naira currency. However, she expressed optimism about the positive economic outcomes of government policies in the near future. Unity Bank Plc aims to bolster its asset creation, liability generation, and business growth while focusing on process automation, cost efficiency, and value chain relationships.
The investigation by the committee of the House of Representatives into the acquisition of OVH Energy by the Nigerian National Petroleum Company Limited (NNPCL) has been stalled due to the absence of the CEO, Mele Kyari. Representatives were sent by Mr. Kyari and the CEO of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (MMDPRA), Farouk Ahmed. However, the lawmakers demanded the appearances of Messrs Kyari and Ahmed themselves as the representatives were unable to speak on their behalf. A closed-door meeting will now be held to determine when the CEOs can appear.
Eni and Oando PLC have signed an agreement for the transfer of Nigerian Agip Oil Company Ltd (NAOC Ltd), an Eni subsidiary operating in Nigeria's onshore hydrocarbon exploration and production sector. As part of the deal, Enilive, a new brand of Eni Sustainable Mobility, focusing on biorafinnation, biogas, and smart mobility, has been established in Italy. This article provides an overview of the agreement and highlights Eni's commitment to sustainable energy solutions.
The Enugu State Ministry of Youths and Sports has announced its remarkable achievements during the first 100 days in office of Governor Peter Mbah. These achievements include a gold medal at the Commonwealth Youth Games, successful hosting of team sports elimination, and skills training for over 100 youths. The ministry is focused on fast-tracking sports development in the state.
Organizers of the Betsy Obaseki Football Tournament have announced the kickoff date for the 3rd edition of the women preseason soccer fiesta. The tournament, which will serve as a pre-season event for the Nigerian women football league, will run from October 19th to October 29th, 2023 in Benin City, Edo State. With the support of the Edo State Sports Commission and the passion of the First Lady, the tournament aims to become the best pre-season tournament in the country.
9mobile, the Nigerian telecom giant, recently held a networking and business mentorship program at the University of Ilorin, where they emphasized the importance of building personal brands for future business and career growth. Students were given insights on personal branding, target audience identification, brand consistency, and the need to network and build relationships. The event also featured sessions on leveraging digital tools and expanding side hustles. Read on to learn more about the key takeaways from the event.
The Aare Onakakanfo of Yoruba land, Iba Gani Abiodun Ige Adams, has highlighted Nigeria's vast potential to become a world class tourism destination. Drawing inspiration from Egypt's successful tourism industry, Adams urges the Nigerian government to tap into the country's rich cultural heritage and natural wonders. This article explores the need for Nigeria to invest in its tourism sector, showcasing the benefits it can bring to the nation's economy and global image.
The Abuja Electricity Distribution Company (AEDC) has announced the appointment of Mr. Christopher Ezeafulukwe as its new Managing Director. This comes after Transcorp-led investors acquired a majority stake in the company. Ezeafulukwe is committed to improving the company's performance and taking it to new heights in the power sector.
Meet Nelly Lum, a Cameroonian/Nigerian entrepreneur who is taking the business world by storm in Nigeria. With her diverse skills and passions in fitness, fashion, and motivation, she is carving a niche for herself and inspiring others along the way. Learn more about Lum's journey, her upcoming brands, and her advice for aspiring entrepreneurs.
The Abia Technology and Innovation Network (ATIN) has urged the Abia State government to embrace and implement the Nigerian Start-up Act. ATIN believes that this move will foster the rapid development of the technology industry in the state and create a stronger ecosystem for innovation and creativity. Acting Chairman of the ATIN board, Daniel Chinagozi, emphasized the importance of collaboration between the government, industry stakeholders, and the technology community to drive technological advancement in Abia State. ATIN also proposed a partnership with the government to provide power and internet connectivity to innovation hubs and to train 10,000 Abia youths in various technology skills.
Briclinks Africa Plc, a prospective telecommunications firm, has unveiled its ambitious plans to attract one million subscribers in the next four years. The company aims to achieve this goal by leveraging voice calls and mobile internet services. Briclinks Africa Plc also intends to hit the stock market to increase its share capital base, while considering loan facilities for its mobile virtual network operator license. With a focus on providing fast and affordable mobile internet services, the company aims to become a sought-after brand in the industry.
Dangote Industries Limited has been named Nigeria's most valuable brand for the sixth consecutive year, according to the annual Top 50 Brands perception assessment conducted by 'Top 50 Brands Nigeria.' With a remarkable aggregate score of 86.2 on the Brand Strength Measurement (BSM) index, Dangote continues to dominate the domestic brand space, reinforcing its unwavering excellence in the market. Telecom brands also take a prominent position, with three out of the top four brands hailing from the telecom sector.
The FCT Health Insurance Scheme (FHIS) has praised President Bola Tinubu's commitment to prioritizing the health insurance scheme for the benefit of Nigerians. The scheme's director, Dr. Ahmed Danfulani, expressed his appreciation during a media engagement session in Abuja. While acknowledging the media's role in raising awareness about health insurance, Danfulani requested their continued support in disseminating information to FCT residents. The FHIS aims to improve enrollment and accessibility to health insurance services, especially among the poor.
The FCT Health Insurance Scheme (FHIS) expressed its appreciation for President Bola Tinubu's commitment to promoting health insurance for the benefit of Nigerians. FHIS called on the media to help create more awareness about the scheme and encourage enrollment from all segments of society. The agency also highlighted the need for the president to sign the FCT Health Insurance Bill to support the country's goal of achieving Universal Health Coverage by 2030.
The National Palm Produce Association of Nigeria (NPPAN) has highlighted the untapped potential of the oil palm industry in Africa. The NPPAN President called for investment and improved governance to stimulate growth in the sector. With countries like China, India, and European nations importing palm oil, there is a huge market opportunity for African producers. The article emphasizes the need for technology sharing and capacity building to tap into the global demand for palm oil. The NPPAN also urged the Nigerian government to establish a National Oil Palm Development Council and policy.
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