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Business

What you should do to end Poverty, starvation – Obasanjo advises President Buhari publicly

Published

6 years ago

January 21, 2018

Sahara Weekly

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A former President Olusegun Obasanjo, (Dr) has told President Muhammadu Buhari that he must step on toes on friends and well-wishers in order to achieve the desired transformation and change agenda of his administration.

Obasanjo, said hard choices must be made consciously or unconsciously to get Nigeria out of poverty and starvation.
He spoke on Saturday in Abuja where he was conferred with a Doctor of Philosophy degree in Christian Theology at the 7th convocation ceremony of the National Open University of Nigeria (NOUN).
President Buhari, speaking on the occasion ordered that every discrimination against the graduates of NOUN should be stopped, saying the government would continue to accord the graduates of NOUN and those of other Distance Learning institutions in Nigeria due recognition.
He said there shall be no discrimination in terms of employment and opportunity for graduates of Open and Distance Learning programmes to pursue higher degrees either in conventional universities or the ODL setting.
While congratulating Obasanjo and other graduands, Buhari, described Obasanjo as the “Father of Open and Distance Education in Nigeria.”
Obasanjo, in his remarks, said from his field work during the course of his study and research, especially in the North Eastern part of the country, it was evident that leadership was Nigeria’s major problem.
He said: “Poverty is not our lot or a lot of any individual or group in Nigeria.”
“It is a choice made consciously or unconsciously by our leaders.” The beginning of getting Nigeria out of poverty to the wealth creation and employment generation is in the choice of our leaders who understand what development means and what it entails and who are ready to do what is needed to be done and make hard choices that need to be made.
“This includes stepping on toes of friends and well-wishers who would not conform to the transformation or change agenda,” he said.
Obasanjo said he is proud and happy to be awarded PhD degree from NOUN, he described as one of the best universities of its kind in Africa.
He noted that at last count he had received about 20 of such honorary degrees from top rate universities from all over the world, noting that the earned doctorate degree conferred on comes with a different sense of fulfilment and accomplishment.
He added that his graduation has confirmed that via an open distance learning platform there is no age limit, no status barrier, no social limit to functional education.
Obasanjo said this has also provided an excellent example of education being from cradle to grave.
He said: “During my student days, at this great University, I requested that I should not be given any special treatment or privileges because I want to go through it as other students.
“I carry my NOUN bag like any other student, took my lectures like any other student, wrote my examinations in my study centre with other students and utilize the learner support services like any other student.”
“The second part of my aim to study at the University is to show to the public and academic community that knowledge or education acquired through open and distance learning is not in any way inferior to knowledge or education acquired from bricks and mortar or walled universities,” he said.
He urged the Federal government to give open and distance learning enough resources since it was obvious that not every Nigeria could have access to walled universities.
“It is worth remarking that I do not need the PhD degree of the University as a meal ticket. I do not intend to apply for a job relating to my area of specialization attaching my brand new certificate.”
“However, I want all to know that I enrolled for the programme and I allowed myself to go through the crucible of training and discipline of research and learning to have the opportunity to become more knowledgeable, productive, and serviceable to humanity and to my God.”
“If at any time my services are required as a result of my specialization,” I will gladly render such services as part of my community and society development effort.
Meanwhile, the Vice-chancellor of the University, Professor Abdalla Uba Adamu, disclosed that a total of 14, 769 students were graduated across all disciplines, saying marks the largest number of students so far graduated in the University.
He said it was remarkable that among the undergraduate graduands were 41 first class holders.
He said the conferment of PhD degree in Christian Theology on the former President Olusegun Obasanjo on Saturday, made him the oldest PhD graduating student in Nigeria.
Adamu said the successful completion of a rigorous course of study and going through the numerous examination process leading to confirmation by the University Senate was a most powerful statement about lifelong education.
He added that Obasanjo’s patience and perseverance in pursuing a doctorate degree programme at his age, station and status in life, is a roadmap to all and clearly communicates that “you are never too old to learn, you are never too powerful to learn and you are never too full of learning.”
A renowned comedian, Chief Chika Okpala, popularly known as Chief Zebrudaya Okorigwe Nwogbo alias 4.30 who is graduating with an MBA in the Faculty of Management Sciences.
Adamu noted that Okpala was one of NOUN Ambassadors who was offered admission by the University, adding that a well-known actor and comedian, he has contributed immensely to the growth of the University through various forms advocacy.

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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

20 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

22 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

1 day 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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