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Cars45 launches initiative to boot out unemployment

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Cars45 launches initiative to boot out unemployment  

Lagos, Nigeria: 8th October 2019

Nigeria’s leading automotive trading platform, Cars45 has launched an innovative empowerment initiative, Cars45 Automotive Entrepreneur Programme. The platform is designed as a framework for poverty alleviation and drive business growth and profitability for individuals irrespective of their social class. 

The initiative provides Nigerians with the opportunity of making extra income by referring people to buy, swap or sell their cars or subscribe to the rich bouquet of services that Cars45 offers. These services include its Emergency Road Assistance, Premium Inspections, Concierge, Inspection and Valuation, Pre-Order, Annual Maintenance Contract amongst others. 

Speaking on the initiative’s reason for being, CEO, Cars45, Etop Ikpe noted that the company’s initiative is in tandem with the federal government’s desire to drive economic growth, invest in human capital and build a globally competitive economy while adding that the initiative will complement government’s efforts to move millions out of the poverty bucket as a viable and sustainable income stream.

“We recognize that our platform helps to create lot of opportunities for people and Nigeria’s biggest problem today is unemployment. We have a huge youth population that must be fully engaged. And so, at Cars45 we simply created a programme that enable people without any prior education or experience with the automotive retail to be engaged and make something for themselves. This Automotive Entrepreneurship programme has been re-designed to equip people with the right technology as well as enable participants increase their income levels by leveraging our services,” he said.

In a keynote presentation at the launch event by Dr. Jumoke Oduwole, Special Adviser to the President on the Ease of Doing Business and Secretary, Presidential Enabling Business Environment Council (PEBEC), she commended the giant strides made by entrepreneurial ventures like Cars45 in deepening economic growth. 

“Companies like Cars45 represent the energy of this economy as entrepreneurial activities account for over 48 percent of GDP contributions and therefore are a demography that can’t be ignored. We are not unaware of the challenges that businesses face and we are doing everything within our power to set the economy on the right path. It is important to see every challenge as an opportunity. I am happy that Cars45 is one of the forward thinking and visionary organizations in the automotive space and with the African Continental Free Trade Agreement AfCFTA, I am even more hopeful that deploying technology they would be able to scale and help grow the economy.”

On the National Automotive Industry Development Plan (NAIDP) Bill, Oduwole noted that there are concerted efforts to ensure broad participation in framing the policy. “There is no economy in the world that has developed without having a vibrant auto assembly and production industry because of the catalytic amount of jobs that the sector can create. There is need for a policy that will take us to where we want to be. The auto industry is pivotal and critical to the growth of our economy and so we are taking our time to shape the automotive policy so that we are able to compete with other players on the continent and enable those who have invested resources derive maximal value. We need an auto policy that will be enduring; we don’t want a policy that we will have and after few years, we will need to change it and that is why we are calling for more contributions”, she said. 

According to VP, Retail Services, Cars45, John Egwu, the programme is designed to accommodate as many youths that want to be part of the scheme. 

“This is a programme that can accommodate all citizens without asking for educational qualifications and very easy to access. We want to give all Nigerians another option of source of income. We are blessed as a country, so we want everyone to marshal their energy towards a new Nigerian economy model that can be self-sustaining for all,” he said.

On how the program works, VP C2B Services, Cars45, Mayokun Fadeyibi, noted that individuals can get started by signing up at www.autopreneur.cars45.com to earn commissions and bonuses on a daily, weekly, monthly and quarterly basis when they successfully refer people to buy and sell cars through the Cars45 network. 

“You start as an agent today, grow to become a team leader where you manage about 20 downliners and as you consistently meet your targets, you can become a Cars45 franchise dealer partner. There is a clear and transparent growth path and using technology, people can conveniently track or monitor their progress in real time and online,” she said.

The Cars45 Automotive Entrepreneur launch attracted key players within and outside the nation’s auto industry that included Executive Director, Allianz Nigeria Insurance Plc, Owolabi Salami; Head, Retail Distribution Channels, Allianz, Ashish Mishra; GM, Suzuki, CFAO Motors, Eric Fantodji; Head, Corporate Development, Enyo Retail & Supply, Olabanjo Alimi; CEO, HCS Autos, Kunle Kosile. 

Known for bringing transparency to Nigeria’s marketplace for used vehicles, Cars45 has become synonymous with creating delightful consumer experiences by offering people a fast and convenient way to buy, sell or swap their cars. 

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The Tony Elumelu Foundation Set to Announce 2025 Cohort of TEF Entrepreneurship Programme

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The Tony Elumelu Foundation Set to Announce 2025 Cohort of TEF Entrepreneurship Programme

Tony Elumelu Entrepreneurs have collectively created 1.5 million jobs and generated $4.2 billion in revenueOver 2 million Africans lifted out of poverty. 

 

The Tony Elumelu Foundation (TEF), Africa’s leading philanthropy empowering entrepreneurs is set to announce the 11th cohort of the TEF Entrepreneurship Programme on Saturday, March 22, 2025.

The 2025 announcement comes at a critical time, as Africa’s entrepreneurship ecosystem faces funding constraints and global economic headwinds. TEF continues to provide much-needed support, empowering African entrepreneurs to transform their ideas into sustainable businesses and engines of economic growth.

Each selected Tony Elumelu Entrepreneur will receive $5,000 non-refundable seed capital, a world-class business training on TEFConnect, one-on-one mentorship, and access to global networks and investment opportunities. The selection process is being conducted by Ernst & Young, to ensure independent assessment.

The impact of the Tony Elumelu Foundation extends beyond funding. It is changing lives and shaping Africa’s future, as witnessed by beneficiaries of the catalytic TEF Entrepreneurship Programme.

The Tony Elumelu Foundation Set to Announce 2025 Cohort of TEF Entrepreneurship Programme

Ahead of the upcoming announcement, Tony O. Elumelu, C.F.R., Founder of TEF and Group Chairman of Heirs Holdings, reiterates his unwavering belief in the potential of Africa’s entrepreneurs:

“I believe that Africa’s transformation will not be led by aid, but by empowering the next generation of African entrepreneurs—giving them the tools, the funding, the training, and the networks to build sustainable businesses that create jobs and drive economic growth.

Over the past decade, we have nurtured entrepreneurs from inception to success, scaling our impact across all 54 African countries. We have provided capital and also developed a robust monitoring and evaluation framework that allows us to track the progress of our entrepreneurs and measure their contributions to their communities and economies.

No other organisation is implementing entrepreneurship development at this scale across Africa. We have learned, we have refined, and we continue to improve, ensuring that African entrepreneurs—women and men—are at the forefront of solving our continent’s challenges and creating wealth for themselves and their communities. Entrepreneurship is the key to Africa’s prosperity. I wish the 2025 cohort of Tony Elumelu Entrepreneurs success, as they chase their ambitions, and play their part in Africa’s transformation.”

The Tony Elumelu Foundation is the leading philanthropy empowering a new generation of African entrepreneurs, driving poverty eradication, catalysing job creation across all 54 African countries and ensuring inclusive economic empowerment.

Since the launch of the Tony Elumelu Foundation Entrepreneurship Programme in 2015, TEF has lifted over 2 million Africans out of poverty, provided 2.5 million young Africans with access to training on TEFConnect, and disbursed more than $100millon in direct funding to thousands of African entrepreneurs who have gone on to create over 1.5 million direct and indirect jobs and generate over $4.2 billion in revenue.

 

For more details on the Tony Elumelu Foundation’s impact visit our Impact Page, African Success Stories Page, and Annual Report Page.

For Media Inquiries: media@tonyelumelufoundation.org

 

Tony Elumelu Entrepreneur Testimonials from Previous Years:

“I started my agribusiness with nothing but an idea. TEF changed everything. With the funding, training, and mentorship, I have now expanded across three countries and employ 25 people.”

– Fatima Diallo, Senegal, Agritech Entrepreneur

“As a woman in the fintech industry, it was difficult to secure funding. TEF not only provided me with capital but also the confidence and skills to build a business that is now attracting international investors.”

– Mary Okeke, Nigeria, Fintech Founder

“The TEF Entrepreneurship Programme helped me commercialise my clean energy innovation. Today, we provide solar solutions to over 50,000 homes in rural Tanzania.”

– Juma Nyerere, Tanzania, Renewable Energy Entrepreneur

 

For more details on the Tony Elumelu Foundation’s impact visit our Impact Page, African Success Stories Page, and Annual Report Page.

For Media Inquiries: media@tonyelumelufoundation.org

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Federal Government Moves to Slash Sky-High Airfares as Minister Keyamo Exposes Airline Tactics

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Federal Government Moves to Slash Sky-High Airfares as Minister Keyamo Exposes Airline Tactics

Federal Government Moves to Slash Sky-High Airfares as Minister Keyamo Exposes Airline Tactics

The Federal Government, through the Minister of Aviation and Aerospace Development, Festus Keyamo, has vowed to tackle the exorbitant cost of air tickets for both domestic and international flights, revealing major efforts to cut costs, enhance airport safety, and address airline pricing manipulations.

Speaking at the Ministerial Press Briefing in Abuja on Thursday, Keyamo exposed a series of economic and policy-based factors that have led to the skyrocketing price of flight tickets, making air travel increasingly unaffordable for Nigerians.

Federal Government Moves to Slash Sky-High Airfares as Minister Keyamo Exposes Airline Tactics

Why Are Airfares So Expensive? The Inside Story

Keyamo broke down the root causes of excessive ticket pricing, which include:
🔹 Limited access to affordable aircraft leasing, forcing Nigerian airlines to either lease aircraft at exorbitant rates or buy aircraft outright—a cost that ultimately burdens passengers.
🔹 Foreign airlines deliberately inflating ticket prices for Nigerian travelers due to fears of trapped funds and currency depreciation.
🔹 Heavy government-imposed airport taxes, which are among the highest in Africa, further pushing up fares.

Foreign Airlines Caught in the Act? Keyamo Exposes Pricing Tricks

In a shocking revelation, Keyamo unveiled how foreign airlines had been exploiting Nigerian travelers by restricting them to only the highest-priced tickets.

“We called international airlines and asked what they used to do. They said if you want to buy international tickets, you will see business class Z, grade J, different grades, but it’s all the same. One can be N2 million cheaper than the other. Those ones, they opened for countries where they could get their money immediately. But they now opened only the high fare for Nigerian passengers,” he disclosed.

He explained that because foreign airlines feared currency depreciation, they set high fares in anticipation of inflation affecting their trapped funds.

“They said because they were taking into account inflationary rates of the money that will be trapped, they didn’t know when they would get it back. So instead of selling a ticket for N2 million or N3 million, they sold it for N7 million. Meanwhile, Ghana had lower ticket prices,” he added.

Government’s Response: No More Exploitation!

The government, according to Keyamo, is actively engaging foreign airlines to adjust their pricing in line with the recently cleared backlog of trapped funds.

“President Bola Tinubu, being very smart on this, cleared that first. But even after clearing the backlog, they were still enjoying the high fares. So we told them, ‘No, you cannot continue to do this. The excuse is gone. Nigerian passengers must now get fair pricing like other countries.’”

The Nigerian Civil Aviation Authority (NCAA) is leading discussions with these airlines to force a price adjustment, ensuring that Nigerians no longer face inflated airfares.

Airport Taxes: Another Major Culprit

Keyamo acknowledged that Nigeria’s airport taxes are among the highest in Africa, further worsening ticket prices. However, he emphasized that reducing these taxes is not solely within his power, as it requires collaboration with the Ministry of Finance.

“The Nigerian Airspace Management Authority and the Federal Airports Authority of Nigeria are reviewing these charges, but I cannot singlehandedly reduce them. It involves the Minister of Finance,” he clarified.

He stressed that airlines pass these high taxes directly to passengers, further inflating ticket costs.

What Lies Ahead? Promises of Cheaper Flights Soon

Keyamo assured Nigerians that with ongoing government interventions—including negotiations with foreign airlines, new aircraft leasing agreements, and possible tax reductions—airfares will soon become more affordable.

“We are addressing these issues. The results will soon be visible with the Cape Town Convention and the Dublin Conference. The deals are coming in, and we will see the results soon,” he promised.

Final Verdict: Relief in Sight or Another Empty Promise?

While the Federal Government’s efforts signal hope for Nigerian travelers, many remain skeptical about whether these promises will translate into real, affordable ticket prices. Will Keyamo’s intervention finally ground the exploitative pricing system, or will passengers continue to pay the price for policy failures? Nigerians are watching closely.

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BUA Estate, Abuja, Hosts Successful Iftar, Fostering Community Spirit

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“Africa’s Biggest Giver”- Inside The Telling Video Celebrating BUA Chairman, Abdul Samad Rabiu’s Birthday

BUA Estate, Abuja, Hosts Successful Iftar, Fostering Community Spirit

BUA Estate, a subsidiary of BUA Group, hosted a memorable Iftar celebration over the weekend in the spirit of Ramadan.
The event, held at the Estate’s mosque, brought together over 200 residents of the estate for an evening of prayers, spiritual lectures, supplications and breaking of fast, geared at fellowship, and community bonding.
Hadiza Rabiu, the General Manager of the Estate, expressed that the initiative aimed to support residents in their spiritual journey through the Holy month of Ramadan.  “We are thrilled to have hosted such a successful event. Ramadan is a time for reflection, gratitude, and community. It was an opportunity for residents to socialize and bond with their neighbours’’.
The Iftar celebration was widely praised by attendees, who appreciated the effort and thoughtfulness that went into organizing the event by management.
In her remark, Aisha Sulieman, a resident of the prestigious estate in Kado, FCT, Abuja, stated that seeing so many familiar faces and feeling a sense of community and belonging was wonderful. “We were indeed grateful to the Estate’s management for hosting such a memorable event,’’ she said.
“I wasn’t expecting that level of grand Iftar, but I was quite impressed. It was a wonderful program that brought families together with enough to eat and drink. I would like to express my gratitude to the company and their staff for the kind gesture,” said Adamu Aliu, another resident who was in attendance.
The Iftar celebration is just one example of the many community-focused initiatives undertaken annually by the BUA Estate management team to unite residents and celebrate their shared values and traditions.
About BUA Estate
BUA Estate is part of BUA Group’s real estate portfolio, which features residential, commercial, and mixed-use developments in Nigeria’s key cities. Our mission is to create sustainable properties that meet the demands of Africa’s real estate sector, blending functionality, durability, and aesthetics for clients and homeowners. Our estates include BUA Kado, BUA Hills, BUA Court, BUA Business Park, Abuja, BUA Towers, and The BUA Place, Lagos. www.buaestate.com.

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