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ASR AFRICA, BUA FOUNDATION APPROVE N1.5BILLION GRANT FOR DEVELOPMENT PROJECTS IN IBESE, IGBOBILA, ILARO, OTHERS IN YEWA LAND, OGUN STATE

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ASR AFRICA, BUA FOUNDATION APPROVE N1.5BILLION GRANT FOR DEVELOPMENT PROJECTS IN IBESE, IGBOBILA, ILARO, OTHERS IN YEWA LAND, OGUN STATE

 

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Sahara Weekly Reports That The Abdul Samad Rabiu Africa Initiative (ASR Africa) – the brainchild of Industrialist, philanthropist, and founder of BUA Group, Abdul Samad Rabiu, and the BUA Foundation have awarded development grants worth N1.5 billion to Yewa Land in Ogun State comprising Ilaro, Igbogila, Ibeshe, Egua, and Igonade communities for key community, social, and infrastructural development projects. This was announced at the grant presentation and mutual accountability framework signing ceremonies held today in Ilaro, Ibese, and Igbogila. The grants will be channeled towards interventions in the areas of health, education, or social development initiatives that are identified for implementation.

 

 

 

 

 

 

ASR AFRICA, BUA FOUNDATION APPROVE N1.5BILLION GRANT FOR DEVELOPMENT PROJECTS IN IBESE, IGBOBILA, ILARO, OTHERS IN YEWA LAND, OGUN STATE

 

 

 

 

 

 

 

 

Presenting the grants award letter to Oba Kehinde Olugbenle, the Olu of Ilaro and Paramount Ruler of Yewaland in Ogun State, Ubon Udoh, Managing Director, ASR Africa assured of more partnership with the people of Yewaland and reiterated that the vision of Abdul Samad Rabiu, Founder of ASR Africa and Chairman of BUA, is to provide concrete solutions for sustainable development in Nigeria, and Africa. According to Ubon, “What ASR Africa and BUA Foundation are doing here today, is planting a seed of sustainable problem-solving across Africa in line with the vision of Abdul Samad Rabiu, our founder – and Chairman of BUA.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

“The first grant of N1 billion goes to all communities in Yewaland for developmental purposes to uplift the quality of life of the Yewa people, while ASR Africa and BUA Foundation are also giving additional specific grants of N250million each to Igbogila and Ibese Communities for already identified infrastructure projects to enhance community development through their traditional institutions. We have done our basic needs assessment in collaboration with the communities on their needs, and we are pleased to say we look forward to the commencement of the identified projects and a more robust partnership with Yewaland, as we have done in other parts of the country.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

In his response, Oba Kehinde Olugbenle, the Olu of Ilaro and Paramount Ruler of Yewaland commended Abdul Samad Rabiu for his philanthropic gestures across the country and noted that indeed he is a true Nigerian. The monarch added that with the grants, Yewaland and Yewa people will witness rapid social and infrastructural development. “We are one of the largest sub-ethnic groups in Yoruba Land and these grants will go a long way in bringing sustainable development in line with the United Nations SDGs, to our people”, he added.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Paramount Ruler of Ibese community, HRM Oba Rotimi Mulero, The Oboro of Ibese, also thanked the donors for their timely intervention in developing Ibese community. “May the Almighty bless Abdul Samad Rabiu, ASR Africa, and BUA Foundation for partnering with us to fast-track development in our community because we are still largely behind on the development curve. This partnership with ASR Africa and BUA Foundation will go a long way in ensuring even greater development for our people.”

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Jumbo Emerges Rivers Assembly Speaker

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Jumbo Emerges Rivers Assembly Speaker

*Jumbo Emerges Rivers Assembly Speaker

 

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Rt. Hon. Oko Jumbo representing Bonny Constituency has emerged as the Speaker of the Rivers State House of Assembly.

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Oko becomes the third Speaker under the current administration after Edison Ehie and Martin Amaewhule.

Details later…

 

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A New Dawn As CREDICORP Engages Financial Institutions On Consumer Credit Initiative By Ifeoma Ikem

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A New Dawn As CREDICORP Engages Financial Institutions On Consumer Credit Initiative

By Ifeoma Ikem

 

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There is enormous hope on the horizon for businesses in Nigeria as the Consumer Credit sector comes alive with the commencement of engagements with Nigeria’s lending ecosystem.

No fewer than 19 commercial banks were at the first session convened recently by Nigeria’s apex bank, the Central Bank of Nigeria (CBN) during which CREDICORP shared its mission and its unique offering of wholesale capital and credit guarantees for lenders who are committed to accelerating consumer credit access to Nigerians at scale.

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President Bola Ahmed Tinubu during his presidential campaign leading to the 2023 elections, among other things, had promised to rejuvenate the Consumer Credit Sector. In fulfillment of the promise, he established the Nigerian Consumer Credit Corporation (CREDICORP) with a specific focus on facilitating the rejuvenation and operation of Consumer Credit services.

Consumer Credit serves as the lifeblood of modern economies, enabling citizens to enhance their quality of life by accessing goods and services upfront and paying responsibly over time.

Consumer Credit also facilitates crucial purchases such as homes, vehicles, education and healthcare, essential for ongoing stability to pursue their aspirations.

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According to the Chief Executive Officer of CREDICORP, Mr. Uzo Nwagba in a statement to the media on Friday, through responsible repayment, individuals build credit histories and unlock more opportunities for a better life., adding that the increased demand for goods and services stimulates local industry and job creation.

Sequel to the convening of the first session of the financial institutions by the CBN with respect to Consumer Credit Initiative, CREDICORP has reportedly received important feedback which would enable it fine tune its rollouts of financial products. For this development, CREDICORP has remained appreciative of CBN’s effort for convening the session in Lagos with the Chief Risk Officers and leaders of Consumer lending across the banks.

The financial institutions which are critical partners with CREDICORP include deposit money banks, microfinance, fintechs and cooperatives. CREDICORP intends to achieve its mandate through strengthening Nigeria’s credit reporting systems, ensuring every economically active citizen has a dependable credit score. This score becomes personal equity they build, facilitating access to consumer credit.

Another way is through offering of credit guarantees and wholesale lending to financial institutions dedicated to broadening consumer credit access currently and promoting responsible consumer credit as a pathway to an improved quality of life, fostering a cultural shift towards growth and financial responsibility.

Notably, the dawn of the consumer credit services is in sync with President Tinubu’s belief that every hardworking Nigerian should have access to social mobility with Consumer Credit playing a pivotal role in achieving this vision.

Meanwhile, the CREDICORP portal for expression of interest has been opened to Nigerians. Interested citizens can visit www.credicorp.ng to express interest and inform the Corporation of their credit needs.

 

A New Dawn As CREDICORP Engages Financial Institutions On Consumer Credit Initiative

By Ifeoma Ikem

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NNPC cautions motorists, others against panic buying

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NNPC cautions motorists, others against panic buying

NNPC cautions motorists, others against panic buying

 

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The Nigerian National Petroleum Corporation (NNPC) Limited has warned motorists and the public against panic buying of Premium Motor Spirit (PMS), commonly referred to as petrol.

In a statement signed by the Chief Corporate Communications Officer, NNPC Ltd., Olufemi Soneye, on Tuesday, he said the corporation emphasised that the supply and distribution of petrol across the nation have witnessed significant improvements.

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According to Soneye, NNPC officials have conducted thorough monitoring of filling stations in various states, including Lagos and the Federal Capital Territory (FCT), where the queues have notably decreased.

He reassured the public that this positive trend will continue to expand to other states in the coming days.

 

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The statement reads, “The Company wishes to state that at the moment, it has over 1.5 billion litres stock of PMS, which is equivalent to over 30 days sufficiency.

 

 

The NNPC Ltd. is also collaborating with relevant downstream agencies, such as the Nigeran Midstream & Downstream Petroleum Regulatory Authority (NMDPRA), labour unions in the sector and security operatives, to address hoarding and other unwholesome practices.”

The move, according to Soneye, underscores NNPC’s commitment to ensuring a steady supply of petrol across the country and mitigating any potential disruptions in the fuel distribution chain.

 

 

Earlier, NNPCL said it has addressed concerns that surround the current scarcity of Premium Motor Spirit.

It added that the scarcity in certain regions of the country stems from logistical challenges, which have since been resolved.

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