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RE: FALSE ALLEGATIONS REGARDING BUA’s OML110

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RE: FALSE ALLEGATIONS REGARDING BUA’s OML110

 

 

It is with great regret and concern that we respond to the false, malicious and spurious allegations of corruption (first published on blazenewz.com.ng and therein allegedly attributed to a purported statement by Alhaji Ibrahim Mai Deribe and Cavendish Petroleum) with respect to BUA’s OML 110.

BUA has been duly contacted by Cavendish Petroleum as well as the alleged writer of the statement, Alhaji Ibrahim Mai Deribe and both parties have told BUA on the record that neither Cavendish, the Mai Deribe Family nor any of its Executives put out such a malicious statement. We find the statement false, defamatory, malicious and libelous – published with the clear intent to impugn the integrity and reputation of BUA Group and its Chairman, Alhaji Abdul Samad Rabiu.

Consequent to this, BUA has conducted its own independent investigation and the findings revealed that the source of the fraudulent news is a Mr. James Onyejekwe, the MD of Kainos Exploration and Production– who is neither an Executive nor spokesperson on behalf of Cavendish Petroleum. We have therefore instructed our legal team to immediately commence criminal defamation proceedings against the person of Mr. James Onyejekwe who is the said originator of the malicious letter fraudulently attributed to Cavendish Petroleum against our person, with damages.

BUA is also commencing proceedings against the online blog, blazenews.com.ng – which first published the unsubstantiated malicious news and thus failed in their duty of journalistic care to check, confirm and clarify the source of such a weighty allegation against a responsible corporate citizen, particularly as the platform made itself a willing vehicle for articles of disinformation capable of bringing the company into disrepute before its clients, staff and continent of operation.

We deem these actions necessary, in order to protect the name and reputation of BUA Group. We see no reason why Mr. James Onyejekwe of Kainos Exploration and Processing would single out BUA in a supposed business dispute which had no link to the BUA Group in its entirety. Therefore, BUA finds it absurd that Mr. Onyejekwe or anyone else will decide to drag BUA into their issues and/or put out such a malicious and defamatory statement, fraudulently using the name of Cavendish/Alhaji Mai Deribe without recourse to truth, facts, decorum or decency.

BUA takes its reputation seriously and we will continue to do everything to protect it from anyone and any entity who obstructs our mandate to conduct business in a proper, legal and socially-responsible manner. BUA will therefore utilize its legal and human resources to resist every campaign of defamation and distraction.

BUA also wishes to inform all our esteemed stakeholders, discerning media practitioners and the unsuspecting public to henceforth disregard any further attempt to perpetuate these malicious, baseless allegations.

We remain highly appreciative of the Nigerian press and will not hesitate to seek full legal redress through the courts to check those who do a great disservice to its crucial role in our great country Nigeria.

SIGNED: MANAGEMENT

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Adron Homes Celebrate Easter, Offers Up to 30% Discount and Flexible Payment Plan

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Adron Homes Celebrate Easter, Offers Up to 30% Discount and Flexible Payment Plan

Adron Homes and Properties, Nigeria’s foremost real estate company, joins Christians nationwide and beyond in celebrating Jesus Christ’s resurrection this Easter season.

Easter, a time of reflection, sacrifice, and joyful renewal, reminds us of the triumph of life over death, hope over despair, and love over fear. It is a season that inspires faith, unity, and the promise of new beginnings for individuals, families, and communities alike.

In a statement released by the company, Adron Homes expressed heartfelt appreciation to its Christian clients and stakeholders for their continued trust and loyalty.

“Easter is a season that embodies the spirit of renewal and grace. At Adron Homes, we are inspired by the hope it brings and the values it represents. We remain committed to building not just houses, but vibrant communities where families can thrive, grow, and create lasting memories,” the company stated.

As part of the celebration, Adron Homes announced that its Easter Delight Promo is still ongoing. The promo offers up to 30% discount on all properties nationwide, along with a flexible payment plan of up to 24 months, making homeownership more accessible and convenient than ever.

Even more exciting, subscribers during the Easter promo stand a chance to win fantastic gifts, including bags of rice, whole chickens, rechargeable fans, gas burners, smart TVs, and many more household essentials — adding extra joy to the season of giving.

With estates strategically located in Lekki-Epe, Badagry, Shimawa, Ibadan, Abeokuta, Ede (Osun), Osunjele, Ilisan, Jos, Sagamu, Ado-Ekiti, Atan-Ota, Ikorodu, Papalanto, Ijebu-Ode, Abuja, Nasarawa, Niger, and more, Adron Homes continue to bridge the housing gap by offering luxurious yet affordable properties in fast-growing areas across the country.

Through its unwavering commitment to excellence, Adron Homes ensures every Nigerian has access to premium real estate and the opportunity to achieve their dream of homeownership.

As Christians mark this sacred occasion with loved ones, Adron Homes wishes every Nigerian peace, joy, and the grace of new beginnings.

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Harmony Gardens, FG Launch Renewed Hope Estate for Nigerians Abroad

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Harmony Gardens, FG Launch Renewed Hope Estate for Nigerians Abroad

Top Lagos-based real estate powerhouse, Harmony Gardens & Estate Development Ltd, is once again making waves, this time through a landmark partnership with the Federal Government of Nigeria to deliver 1,000 modern duplexes at Lekki Aviation Town, directly opposite the proposed Lekki International Airport.

The project, part of President Bola Ahmed Tinubu’s Renewed Hope Agenda, is targeted at middle-income Nigerians in the diaspora seeking to invest in sustainable, high-quality housing back home. It is being financed by the Federal Mortgage Bank of Nigeria (FMBN) and reflects the government’s commitment to easing access to homeownership.

President Tinubu is set to perform the official groundbreaking on May 29, 2025, signaling not just political will but also strategic action toward diaspora inclusion and infrastructure expansion.

Speaking on the initiative, Harmony Gardens Chairman, Mogaji Wole Arisekola, confirmed a whopping ₦106 billion investment into the FGN Harmony Partnership. The company’s innovative Executive Managing Director, Hon. (Dr.) Abdullahi Saheed Mosadoluwa, widely known as The Lagos Landlord is rolling out a game-changing Ibile Traditional Mortgage Scheme. The plan offers Nigerians at home and abroad the ability to rent-to-own homes on a single-digit annual interest rate for up to 20 years.

The Renewed Hope Estate will boast modern infrastructure, green areas, high-grade finishes, security systems, and effective drainage, setting a new standard for residential developments in Lagos. It will also provide over 5,000 direct and indirect jobs, boosting the construction and logistics sectors significantly.

Harmony Gardens has continued to solidify its reputation as a premium developer, currently overseeing seven prestigious estates, including GranVille Estate, The Parliament, Majestic Bay, Harmony Casa, and the flagship Lekki Aviation Town, collectively known as the Seven Citadel of Joy.

As the federal government collaborates with developers and international consultants to ensure timely delivery and top-tier quality, Harmony Gardens is once again demonstrating why it remains a pillar of excellence in Nigeria’s real estate industry.

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Forging a Continental Future: Nigeria and South Africa Unite to Unlock Africa’s Mineral Wealth

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Forging a Continental Future: Nigeria and South Africa Unite to Unlock Africa’s Mineral Wealth By George O. Sylvester, Reporting from South Africa

Forging a Continental Future: Nigeria and South Africa Unite to Unlock Africa’s Mineral Wealth

By George O. Sylvester, Reporting from South Africa

 

CAPE TOWN, April 17, 2025 – In a landmark move aimed at reshaping Africa’s economic future, Nigeria and South Africa signed a historic Memorandum of Understanding (MoU) to collaborate in the solid minerals sector. The agreement, reached during the 11th session of the Nigeria-South Africa Bi-National Commission (BNC), represents a strategic alliance focused on harnessing Africa’s vast mineral wealth for mutual benefit and sustainable development.

Forging a Continental Future: Nigeria and South Africa Unite to Unlock Africa’s Mineral Wealth

By George O. Sylvester, Reporting from South Africa

The deal marks a bold shift towards intra-African cooperation, at a time when global competition for mineral resources—especially critical minerals for green technologies—is intensifying. With the African Continental Free Trade Area (AfCFTA) now operational, this bilateral partnership lays the groundwork for a new continental approach to resource governance and economic diversification.

A Tale of Two Giants
Nigeria, long regarded as a mono-economy reliant on oil (which accounts for over 85% of its export revenue), has begun to prioritize the mining sector as a vehicle for economic diversification. According to the Nigerian Extractive Industries Transparency Initiative (NEITI), the country’s solid minerals sector contributed a mere 0.63% to GDP as of 2022, despite holding an estimated $700 billion in untapped mineral reserves including gold, lithium, columbite, iron ore, and uranium.

In contrast, South Africa’s mining sector, which contributed approximately 7.5% to GDP in 2023 (StatsSA), is globally renowned for its depth, technological sophistication, and regulatory framework. With over 100 years of mining history, it boasts world-class infrastructure and expertise in areas such as deep-level mining, beneficiation, and environmental management.

The union of Nigeria’s raw potential and South Africa’s technical prowess could become a game-changer—not just for both economies but for Africa’s collective push toward industrialization and self-reliance.

Key Components of the MoU
1. Joint Geological Mapping
Using satellite imaging, geospatial technologies, and AI-powered mineral detection tools, both countries will collaborate on large-scale geological surveys. This effort is critical in Nigeria, where over 80% of the land remains geologically underexplored, according to the Nigerian Geological Survey Agency (NGSA).

2. Data Exchange and Transparency
A core pillar of the agreement is real-time data exchange between the NGSA and South Africa’s Council for Geoscience. This will enhance transparency, reduce investor risk, and improve planning. By adopting South Africa’s data management frameworks, Nigeria aims to move toward international best practices in resource classification and public disclosure.

3. Capacity Building and Technology Transfer
To reduce Nigeria’s dependence on foreign consultants, South Africa will assist in training geologists, metallurgists, and mining engineers through academic exchanges, short courses, and certification programs. Nigerian professionals will also be trained in advanced techniques such as Elemental Fingerprint Technology, which determines mineral origin—crucial for combatting illegal mining and smuggling.

4. Exploration of Agro and Energy Minerals
The MoU includes joint ventures in exploring agro-minerals like phosphate and potash (needed for local fertilizer production) and energy minerals like lithium and cobalt—essential components of electric vehicle batteries and clean energy storage systems. Nigeria’s nascent lithium reserves in Nasarawa and Ekiti states could prove critical as the world pivots toward decarbonization.

Economic Potential
According to PwC’s Nigeria Mining Sector Report, the solid minerals industry could contribute up to $27 billion annually to Nigeria’s GDP by 2030, if adequately developed. This partnership is expected to catalyze investment and attract global mining companies previously hesitant about Nigeria’s regulatory unpredictability.

Already, projections suggest the MoU could generate over $500 million in direct foreign investment during the first phase. Furthermore, the Nigerian Ministry of Solid Minerals forecasts the creation of 3 million jobs across the mining value chain—ranging from exploration and extraction to logistics and beneficiation.

For South Africa, this is a strategic economic expansion. With its traditional mining output slowing due to resource depletion and labor unrest, South Africa is seeking new avenues for growth. By investing in West Africa, it not only expands its mining footprint but deepens its diplomatic influence and commercial engagement with Africa’s largest economy.

Institutional Support and Structural Reforms
Nigeria’s reforms have not gone unnoticed. The introduction of the Electronic Mining Cadastral System (EMC+) has streamlined licensing and reduced corruption, enabling a transparent “first come, first served” process. In 2024 alone, over 1,500 mineral titles were processed electronically—a significant improvement from previous years marred by bureaucracy.

Moreover, the Nigeria Minerals Decision Support System (NMDSS) has made investor-relevant data—such as infrastructure availability, environmental regulations, and geoscience—accessible through a centralized portal. These tools are modeled after global standards, including Australia’s Geoscience Portal and South Africa’s SAMREC Code.

Diplomatic and Regional Impact
This partnership is more than a commercial endeavor; it is a diplomatic signal. Both countries, which combined account for over 30% of Africa’s GDP and nearly 300 million people, are demonstrating leadership in Pan-Africanism. The agreement comes at a time when Africa must assert control over its mineral wealth, especially with rising concerns over neocolonial extraction by foreign powers.

As Dr. Ngozi Okonjo-Iweala, Director-General of the WTO, noted in 2024:
“Africa cannot be the source of raw materials for global value chains without being part of those chains.”

The Nigeria-South Africa MoU embodies this vision. By focusing on value addition, local content development, and environmental sustainability, the partnership seeks to reverse the continent’s historical pattern of extractive exploitation.

A New African Vision
Underpinning this alliance is a deeper aspiration: a unified African response to global economic challenges. With AfCFTA aiming to boost intra-African trade by over 50% by 2030 (UNECA estimates), resource-rich countries must lead the charge. If this mining collaboration succeeds, it could set a precedent for other sectors—agriculture, energy, technology—where African synergies remain largely untapped.

It is also a message to African youth, millions of whom face unemployment despite living in the most resource-endowed continent on Earth. The partnership can create meaningful employment while fostering innovation, entrepreneurship, and skills development.

Conclusion
The Nigeria-South Africa mining partnership is not just a bilateral deal—it is a continental statement. It reflects a long-overdue shift in how African nations view their resources, their allies, and their future. By choosing cooperation over competition and value creation over mere extraction, both countries are redefining what African leadership means in the 21st century.

This agreement could well be remembered as a turning point—when two of Africa’s most influential nations chose not only to collaborate but to lead.

As the late Kofi Annan once said:
“Resources are not curses. Mismanagement is.”

This partnership offers Africa a rare opportunity to get it right.

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