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Business

Atiku, Goodluck Jonathan meets over 2019 Presidency as plans to decamp to PDP surface

Published

7 years ago

October 9, 2017

Sahara Weekly

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The push to get former Vice President Atiku Abubakar to dump the All Progressives Congress (APC) and return to the Peoples Democratic Party (PDP) to enhance the opposition party’s bid to return to power in 2019 may have gained traction with a recent discrete meeting between him and former President Goodluck Jonathan.

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The meeting said to have been held at the instance of Atiku, who was said to be seriously considering offers made to him by a section of the leadership of the opposition party to return, according to a THISDAY source, explored the desirability of the move and concluded that it would be a worthwhile political endeavour that could help terminate what both leading politicians regarded as the uninspiring rule of the APC.
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THISDAY had in a recent report indicated that there were concerted efforts by some PDP leaders to bring Atiku back to the party’s fold but that he gave conditions, including an assurance that he would be given its automatic ticket to contest the 2019 presidential election.

The fresh meeting with Jonathan was said to have looked into the possibility of this condition with both of them said to have agreed that all options should be kept open as the political dynamics of the country remained fluid, requiring a more pragmatic approach to the upsurge in politicking, which the Independent National Electoral Commission (INEC) warned against last week.

The electoral empire’s National Chairman, Prof. Mahmud Yakubu, had cautioned politicians against political campaigns for 2019, saying the ban on electioneering was yet to be lifted in accordance with Electoral Act 2010 as amended.

But Jonathan was said to have advised Atiku to consider returning to the PDP early enough to avoid being caught by certain provisions of the party’s constitution, which stipulate a period of time a member has to spend in the party before he could be eligible to contest for a political office.

“Atiku was advised to return early to enable him to fulfil the eligibility condition in the party’s constitution and also have ample time to integrate his political structure into the PDP’s,” a source privy to the meeting said.

The source said it was made clear to Atiku that he stood a better chance to realise his ambition in the PDP than the APC since President Muhammadu Buhari looked set to be given a right of first refusal by his party’s leadership.

According to the source: “He was told to note a recent comment by the APC National Chairman, Chief John Odigie-Oyegun, stating that as the incumbent, President Buhari had a right of first refusal even when the decision would have to be his.

“That has been buoyed by Kaduna State Governor Nasir el-Rufai who had practically launched Buhari’s re-election campaign.”

Referring to the reactions of the APC leadership and stalwarts to the recent declaration of support for his presidential ambition by the Minister of Women Affairs and Youth Development, Mrs Aisha Alhassan, the source said it was made clear to Atiku that there was nothing left for him in the APC and that he should just return to the PDP where he could reunite more easily with other founding fathers who were eager to rebuild the party.

THISDAY had reported exclusively in a recent report that key leaders of the PDP were in talks with Atiku over his possible return to the party he co-founded in 1998.

But the former vice president was said to have insisted on some conditions to be met before he could dump the APC for the PDP. This included an assurance that he would get the party’s presidential without a contest.

“The secret discussions are ongoing with a wing of the leadership of the PDP and this has encouraged the former vice-president to start consultations with critical leaders in the northern and southern parts of the country,” a source had told THISDAY, adding: “However, Atiku has informed the PDP leaders who have approached him to guarantee him the nomination of the party for the presidential election before he can leave the APC, as he does not want to be messed up for the third time.”

Findings had shown that several governors in the PDP, especially Governor Ayodele Fayose of Ekiti State who had also declared his presidential intention, were willing to allow Atiku return to the PDP. Party sources had claimed that Fayose would not mind positioning for the vice presidency candidacy as Atiku was a strong politician who looked ready to take over power.

Multiple sources had told THISDAY that the leadership of the PDP was comfortable with Atiku whom they believed was well liked by both northerners and southerners even as they downplayed the issue of his old age.

According to a source, the leaders believed emphasis should be placed on the state of his health rather than his age.

“We had the late President Umaru Yar’Adua who was in his mid-fifties but he had health issues which led to his demise midway into his presidency. Also, President Muhammadu Buhari had health issues which we warned against during electioneering in 2015, but it was dismissed as hate speech. “Then we have persons that are the same age or much older but are healthy and physically fit. So Nigerians should be more concerned about a person’s health than his age,” the source stated.

The source said the APC chieftain was aware of the issues surrounding his age and health and he is prepared to make his medical certificates for the last ten years public to allay any concern about his health.

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Business

ASR AFRICA COMMENCES THE CONSTRUCTION OF A 500-CAPACITY LECTURE THEATRE AND FACILITIES WORTH 250 MILLION NAIRA FOR THE ADAMAWA STATE UNIVERSITY, MUBI, NIGERIA

Published

8 hours ago

May 3, 2024

Sahara Weekly

ASR AFRICA COMMENCES THE CONSTRUCTION OF A 500-CAPACITY LECTURE THEATRE AND FACILITIES WORTH 250 MILLION NAIRA FOR THE ADAMAWA STATE UNIVERSITY, MUBI, NIGERIA

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Mubi, May 3rd, 2024

Sahara Weekly Reports That The Abdul Samad Rabiu Africa Initiative (ASR Africa) commences the construction of a 500-capacity lecture theatre and wash facilities for the Adamawa State University, Mubi. This project is coming after the nomination of the institution as a recipient of the ASR Africa Tertiary Education Grant Scheme (TEGS), by the Board of Directors of the Abdul Samad Rabiu Africa Initiative.

Speaking at the event, the Acting Vice Chancellor of the University, Dr. Stephen A. Lagu, expressed his appreciation to the Chairman of BUA group and ASR Africa, Abdul Samad Rabiu, for the rare philanthropy gesture towards the university. He stated that the intervention of the Chairman would reduce the physical infrastructure deficit at their new campus and promote sanitation and hygiene in the university. He added that the choice of the 500-seat lecture theatre with the four boreholes at different locations within the campus was identified and agreed to by the relevant organs of the institution with the ASR Africa team.

Dr Ubon Udoh (MD / CEO, ASR Africa), in his remarks, congratulated the institution for qualifying for the nomination by the Board of Directors of ASR Africa. He stated that the rigorous selection process which includes stringent criteria such as the quality of service delivered by the university and the pedigree of graduands from the institution at the national and international levels, proves that the university is keeping up with its vision as a leading institution of learning in the region. He encouraged the management and students to ensure proper use and maintenance of the facilities as a show of appreciation for the grant given to them.

The Tertiary Education Grant Scheme of the Abdul Samad Rabiu Africa Initiative is part of the efforts of the Chairman of BUA Group and ASR Africa, Abdul Samad Rabiu to give back to the African continent and make a lasting impact in education as a means of uplifting and restoring the dignity and lives of Africans.

About ASR Africa

ASR Africa is the brainchild of African Industrialist, Philanthropist and Chairman of BUA Group, Abdul Samad Rabiu, the Abdul Samad Rabiu Africa Initiative (ASR Africa) was established in 2021 to provide sustainable, impact-based, homegrown solutions to developmental issues affecting Health, Education and Social Development within Africa.

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Business

Rano: Inspiring Story Of An Ice block seller who became billionaire

Published

10 hours ago

May 3, 2024

Sahara Weekly

Rano: Inspiring Story Of An Ice block seller who became billionaire

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Alhaji Auwalu Abdullahi Rano, popularly known as A.A Rano transformed from a humble boy from Kano Village into a billionaire magnate, overseeing a conglomerate that includes 120 filling stations across Nigeria.

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Born into an average family in Lausu, Kano State, Rano started small, with an ice block and groundnut oil business, including other local items.

Rano has gone into building a multi-billion naira enterprise spanning various sectors of Nigeria’s economy.

Today, Rano owns AA Rano oil & Gas industry in Nigeria with 56 ML Tank farm in Lagos, with 120 retail outlet/ fillng stations across Nigeria and over 600 trucks & LPG terminals as well as acquired vessel (M.T LAUSAU).

His ventures include RanoGaz, a state-of-the-art Liquified Petroleum Gas (LPG) terminal, a rice milling company, Rano Lubricant, Rano Air, Lausu Marine and Logistics, AA Rano Terminal, and AA Rano Road Haulage.

@PUNCHNG

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Bank

Fidelity Bank records a 120.1% growth in PBT to N39.5bn in Q1 2024

Published

17 hours ago

May 3, 2024

Sahara Weekly

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Fidelity Bank records a 120.1% growth in PBT to N39.5bn in Q1 2024

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In line with its upward growth trajectory, leading financial institution, Fidelity Bank Plc, has posted an impressive 120.1% growth in Profit Before Tax from N17.9bn at the end of Q1 2023 to N39.5bn for Q1 2024. This was made known in the Bank’s unaudited financial statements released on the issuer portal of the Nigerian Exchange (NGX) on Tuesday, 30 April 2024.

According to the statement, Gross Earnings increased by 89.9% yoy to N192.1bn from N101.1bn in Q1 2023. The increase was led by a combination of interest income (90.7% yoy) and non-interest income (84.0% yoy). Growth in interest income was primarily spurred by a higher yield environment and strong earning assets base, while the increase in non-interest income was led by double-digit growth in account maintenance charges, FX-related income, trade, banking services, and remittances, supported by increased customer transactions.

Commenting on the results, Nneka Onyeali-Ikpe, MD/CEO, Fidelity Bank Plc stated, “We are pleased to report another quarter of strong financial performance driven by our strategic focus on customer-centricity, digital innovation and operational excellence. Despite the challenging macroeconomic environment, we remained resilient and agile, delivering double-digit growth on key income lines while advancing our business sustainability agenda.”

In the period under review, the bank grew Net interest income grew by 89.5% yoy to N99.6bn from N52.6bn in Q1 2023, driven by interest and similar income as the yield on financial instruments improved to 14.7% from 10.1% in Q1 2023 (2023FY: 11.6%). In line with the steady rise in interest rates through the year, average funding cost increased by 80bps ytd to 5.2%. However, NIM came in at 8.8%

compared to 8.1% in 2023FY, as increafeatsed yield on earning assets surpassed funding cost to 15.1% from 13.3% in Q1 2023 (2023FY: 13.5%).

Similarly, Total Deposits increased by 17.2% ytd to N4.7tn from N4.0tn in 2023FY, driven by double-digit growth across all deposit types (demand, savings and term). Net Loans and Advances increased by 21.2% to N3.7tn from N3.1tn in 2023FY.

“Beginning the year on this inspiring note reaffirms our strategy of helping individuals to grow, inspiring businesses to thrive and empowering economies to prosper. We are committed to our guidance as we build a more resilient business franchise with a well-diversified earnings base in 2024,” explained Onyeali-Ikpe.

Ranked as one of the best banks in Nigeria, Fidelity Bank is a full-fledged customer commercial bank with over 8.5 million customers serviced across its 251 business offices in Nigeria and the United Kingdom as well as on digital banking channels.

The bank has won multiple local and international awards including the Export Finance Bank of the Year at the 2023 BusinessDay Banks and Other Financial Institutions (BAFI) Awards, the Best Payment Solution Provider Nigeria 2023 and Best SME Bank Nigeria 2022 by the Global Banking and Finance Awards; Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence 2023; and Best Domestic Private Bank in Nigeria by the Euromoney Global Private Banking Awards 2023.

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