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2024 International Cooperative Day: How MedLab Practitioners Multipurpose Cooperative Society Is Set to Transform Nigeria’s Socio-Economic Landscape

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2024 International Cooperative Day: How MedLab Practitioners Multipurpose Cooperative Society Is Set to Transform Nigeria’s Socio-Economic Landscape

By Abdulrahman Aliagan

 

 

In the bustling heart of Africa, Nigeria, the Africa’s commercial hub, a group of Medical Laboratory Practitioners came together to form what is today known and called Medical Laboratory Practitioners Multipurpose Cooperative Society Limited (MLPMCSL). This group of people huddles around a table, both in the days and in the nights to discussing the latest ways, ideas and innovations of making savings and loan working for the best for its members.

This is not a typical business meeting, but rather a gathering of Medics and non-medics alike, as one of the thousands of cooperative groups that are quietly revolutionizing the socio-economic fabric of Africa’s most populous nation.

Without a doubt, cooperative societies have long been the unsung heroes of Nigeria’s development story. These member-owned and democratically controlled organizations have been providing vital financial services, empowering entrepreneurs, and fostering community resilience in ways that formal financial institutions have often failed to do.

Instructively, “MLPMCSL within its shortest time of existence, it has been a lifeline for members” says, Mr Kingsley Okpala, the Secretary of MLPMCSL FCT Branch and Chairman, MEDLAB Estate. According to him, “It allows us to save regularly, acquire shares, access loans, when we need them, and support each other through difficult times. Without them, I don’t know how we would manage.”

Indeed, the impact of cooperative societies in Nigeria cannot be overstated. With an estimated of over 10 million members across the country, these organizations are playing a crucial role in promoting financial inclusion, reducing poverty, and driving sustainable economic growth.

“Cooperatives are the backbone of Nigeria’s informal sector,” explains Dr. Adesoji Adelaja, a professor of public policy at Michigan State University who has studied the cooperative movement in the country.

“They provide access to credit, business training, and other essential services that are often out of reach for the country’s marginalized communities.”

Take the case of MLPMCSL for instance. This cooperative, which is made up of predominantly Medical Lab practitioners average-income earners, has been using its collective savings and loan scheme to help its members start and expand their businesses, as well as to weather economic shocks and personal emergencies.

“Through the cooperative, we’re able to access small loans at affordable interest rates,” says Abubakar. “This has allowed us to invest in our businesses, send our children to school, and even at the verge of owning to ourselves new homes, the initiatives that has brought about MEDLAB Estate, a project that is going to set a standard for cooperative societies in Nigeria. It’s a game-changer for us.”

The transformative power of cooperative societies is not limited to the informal sector, however. Across Nigeria, from rural farming communities to urban professional circles, these organizations are driving innovation and social change.

For example, a cooperative of Medicals has been using its collective bargaining power to negotiate better prices for their crops, as well as to access improved agricultural inputs and technologies, affordable Housing and food interventions to cushioning the Nigeria’s present economic reality. This, in turn, has led to increased productivity, higher incomes, and greater food security as well as enabling members to fund their professional development and personal aspirations.

“Cooperatives are truly the unsung heroes of Nigeria’s development story, “Say Mr John Chidi, a Medical Lab practitioner, “They are empowering individuals, strengthening communities, and contributing to the overall socio-economic growth of the country in ways that are often overlooked.”

As Nigeria grapples with the challenges of youth unemployment, economic inequality, and social fragmentation, the cooperative movement offers a glimmer of hope. By fostering a culture of self-help, mutual aid, and democratic participation, these organizations are demonstrating the power of collective action to drive positive change.

“Cooperative societies are not just about money and business,” reflects Maryam Abubakar. “They are about building a better future for all of us – one that is more inclusive, resilient, and just. And that, to me, is the true significance of what we do.”

Meanwhile, on Saturday, the 6th of July, 2024, MLPMCSL has highlighted programmes to join the global community to commemorate the International Cooperative Day under the theme “Cooperatives Build a Better Future for All.” This significant event, spearheaded by respected figures such as Alhaji Idris Ali Sanni, emphasized the critical role that cooperative societies play in empowering members and driving economic progress.

At the heart of the event is a focus on innovative excellence and the empowerment of members to achieve economic leadership through unity and performance. Muhammed S. Bello, the esteemed Founder/CEO of the Cooperative & Labour Education Research Centre (CLERC) in Lagos, will deliver a compelling address as the Guest Speaker, that will emphasizing the need for cooperative unity in fostering growth and development.

The energetic Elder IO Benjamin, the Project Manager/President of the MLPMCSL will serve as the Chief Host and Co-Speaker to the upcoming event, it is going to shed light on the enduring and endearing nature of cooperative societies and the pivotal roles playing by both members and management in nurturing a thriving cooperative environment.

Guiding the proceedings are experienced moderators Mr. Abdullahi Abdullahi Samaila and Uba Cornelius Ekenedilichukwu, who would ensure a smooth flow of discussions and engagements throughout of the event.

As part of the programme schedules, attendees are therefore invited to join this global event, at 8:30 pm via Google Meet. The event promises to be an enlightening and enriching experience that will showcasing the collective efforts towards advancing socioeconomic growth and development through cooperative initiatives.

In conclusion, the International Cooperative Day 2024 celebration is going to serve as a testament to the vital role that cooperative societies is playing in building a better future for all. Through unity, innovation, and a commitment to excellence, these cooperative entities continue to drive positive change and transformation in communities, ultimately shaping a brighter tomorrow for generations to come. Let us all heed the call to embrace the cooperative spirit and make every day count towards a more inclusive and prosperous society.

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Q2 Media Performance Review: Banking, Insurance, and Telecom CEOs in Focus

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Q2 Media Performance Review: Banking, Insurance, and Telecom CEOs in Focus

Q2 Media Performance Review: Banking, Insurance, and Telecom CEOs in Focus

In spite of the challenging economic conditions and their adverse effects on businesses nationwide, Nigeria’s commercial banking, insurance, and telecommunications sectors have consistently maintained robust media relations, marketing strategies, and public awareness initiatives. Their success has been bolstered by the impressive data shared with the media in the second quarter, which has helped sustain positive public perception and confidence in these industries. An independent analysis of the media performance and prominence of the CEOs of Nigerian Commercial Banks, Insurance Companies and Telecommunication Providers for the second quarter was conducted by the leading Media Intelligence and Public relations audit agency, P+ Measurement Services. 

Q2 Media Performance Review: Banking, Insurance, and Telecom CEOs in Focus

This media analysis monitored more than 1.3 million online publications from blogs, news sites, broadcasts, forums, and digital media in the local and global media space, as well as about 5,115 print publications (including daily, weekly, and monthly publications), from which different metadata was extracted, including the sentiment of reporters, editors, publishers, and opinion writers from various online and print publications, spokesperson analysis, CEOs performances, and other topics.

Through detailed media data gathering, analysis, and audit of salient valid PR metrics of 27 Commercial Banks, top 10 leading Insurance companies, and top 4 Telecommunications Providers. The reports ranked the top CEOs (Commercial Banks, Telecommunication, and Insurance) prominent in the Online and Print media.


According to the analysis, Yemisi Edun of First City Monument Bank (FCMB), led the leaderboard with a 23% share of media coverage, indicating a strong media presence and influence in the banking sector. Closely behind were Oliver Alawuba of United Bank for Africa (UBA) with 22% and Nneka Onyeali-Ikpe of Fidelity Bank capturing 22% of media coverage, demonstrating significant visibility and engagement within the industry. Moruf Oseni of Wema Bank came in next with 18% and Wole Adeniyi of Stanbic IBTC Bank rounded out the chart with 16%, showing a notable but comparatively lower media presence. This distribution of media coverage highlights the competitive landscape and varying levels of media engagement among top banking executives.

In the insurance sector, the media performance audit report revealed that Akinjide Orimolade of Stanbic IBTC Insurance Limited had the most media exposure at 73%. Lesi Gboyega of Leadway Assurance with 15% and Kunle Ahmed of AXA Mansard Insurance followed closely with 9%. Eddie Efekoha of Consolidated Hallmark Insurance with 2% and Andrew Ikehua of NEM Insurance with 1% media exposure. This distribution highlights a competitive media landscape among insurance executives, with varying levels of visibility and engagement reflecting their influence and presence in the sector. Comparing both sectors, it is evident that top executives in banking and insurance are actively working to maintain significant media profiles to enhance their brands’ visibility and market influence.

In the telecommunications sector, Karl Toriola of MTN Nigeria led the media performance with 67% share of media coverage, highlighting MTN’s dominant presence and influence in the industry. Carl Cruz of Airtel Nigeria followed with 31%, indicating substantial visibility and engagement. In contrast, Mike Adenuga of Globacom had lower exposure, with only 2% media coverage.

This distribution underscores the disparity in media engagement among telecommunications executives, with MTN and Airtel maintaining strong media profiles. Comparing the telecommunications sector to the banking and insurance sectors reveals that media coverage is highly concentrated among a few key players, highlighting the varying strategies and successes in maintaining media presence across different industries.

Overall, the analysis reveals significant disparities in media engagement across the banking, insurance, and telecommunications sectors. Key executives like Yemisi Edun, Akinjide Orimolade, and Karl Toriola have successfully maintained strong media profiles, highlighting their influence within their respective industries. This highlights the importance of strategic media engagement for maintaining visibility and influence in a competitive landscape.

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UN, Columbia University, New York To Headline ASIS 2024

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UN, Columbia University, New York To Headline ASIS 2024

 

UN, Columbia University, New York To Headline ASIS 2024

 

 

The Africa Social Impact Summit (ASIS) 2024 is set to be an extraordinary gathering of influential leaders, Amina Mohammed, Deputy Secretary General of the United Nations, and Jeffrey Sachs, of the world-acclaimed Columbia University, New York, are set to headline the event.

 

 

UN, Columbia University, New York To Headline ASIS 2024

The summit, co-convened by the Sterling One Foundation and the United Nations, is scheduled for July 25th and 26th at the Eko Convention Centre, Lagos. It promises to be a pivotal platform for addressing Africa’s critical social and economic challenges under the theme “Reimagining Progress: A New Blueprint for Sustainable Growth in Africa.”

Jeffrey Sachs, renowned economist and director of the Center for Sustainable Development at Columbia University, is known for his extensive work in global economic development and poverty alleviation. His expertise in sustainable development will provide a vital framework for the summit’s discussions on creating economic opportunities and reducing inequalities.

Amina Mohammed, Deputy Secretary-General of the United Nations, has a rich history of leadership in international development and environmental sustainability. Her participation is expected to drive crucial conversations on achieving the Sustainable Development Goals (SDGs) across Africa, focusing on inclusive growth and environmental stewardship.

Abubakar Suleiman, CEO of Sterling Bank, is celebrated for his innovative approaches to banking and his strong commitment to corporate social responsibility. His insights into sustainable business practices and economic development will be instrumental in shaping the summit’s agenda.

Olapeju Ibekwe, CEO of the Sterling One Foundation, expressed her excitement for the event: “ASIS 2024 represents a unique opportunity for global leaders and innovators to converge and create sustainable solutions for Africa’s most pressing challenges. We are honored to have such distinguished speakers and partners joining us in this transformative journey.”

ASIS 2024 will bring together leaders from the private sector, public sector, tech ecosystem, non-profit organizations, and government to collaborate on initiatives that drive social impact. The summit will focus on key areas such as universal health access, education, equality, food security, and climate action.

Interested participants can register for the summit at  www.theimpactsummit.org.

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Minister of State Petroleum Resources [Oil] Hosts Crucial Meeting with Dangote, NMDPRA, NUPRC, and NNPC Leadership

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Minister of State Petroleum Resources [Oil] Hosts Crucial Meeting with Dangote, NMDPRA, NUPRC, and NNPC Leadership

Minister of State Petroleum Resources [Oil] Hosts Crucial Meeting with Dangote, NMDPRA, NUPRC, and NNPC Leadership

 

 

Distinguished Senator Heineken Lokpobiri @senlokpobiri, the Honourable Minister of State Petroleum Resources [Oil], convened a high-level meeting with key stakeholders to address and resolve the ongoing issues surrounding the Dangote Refinery.

 

Minister of State Petroleum Resources [Oil] Hosts Crucial Meeting with Dangote, NMDPRA, NUPRC, and NNPC Leadership

Present at the meeting were:

Mr. Aliko Dangote, Chairman and CEO of @DangoteGroup
Mr. Farouk Ahmed, Authority Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (@NMDPRA_Official)
Mr. Gbenga Komolafe, Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (@NUPRCofficial)
Mr. Mele Kyari, Group Chief Executive Officer of the Nigerian National Petroleum Corporation Limited (@nnpclimited)

The stakeholders expressed their gratitude to the Honourable Minister for his exemplary leadership and timely intervention in facilitating this crucial dialogue. The meeting focused on finding a sustainable and lasting solution to the current impasse affecting the Dangote Refinery, with all parties demonstrating a commitment to collaborative and proactive problem-solving.

The Honourable Minister emphasized the importance of cooperation and synergy among all stakeholders to ensure the success and optimal performance of the Oil and Gas sector, which is pivotal for Nigeria’s economic growth and energy security.

This meeting marks a significant step towards resolving the challenges and underscores the Minister’s dedication to fostering a conducive environment for Nigeria’s oil and gas sector.

— Nneamaka Okafor

Special Adviser Media and Communication to Minster of State for Petroleum Resources (Oil)

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