National Insecurity: General Mabekowu Meets Taraba CP For Intelligence Sharing

The Commissioner of Police, Taraba State Police Command, Ahmed M. Azare, on Tuesday, May 18, received the newly posted Brigade Commander, Brigadier General H.I Mabekowu, in his office on a courtesy call.

 

 

 

This is contained in a statement signed by DSP David Misal, Police Public Relations Officer,PPRO, Taraba Police Command and made available to NAOSRE.

 

 

According to Misal, the courtesy visit followed the establishment of 6 Brigade in Jalingo by the army headquarters, Abuja.

 

 

In his remarks, the Brigadier General informed the commissioner that the purpose of the visit was to familiarize himself with the command and seek for collaboration, synergy and intelligence sharing between the police and the military.

He noted that the military recognizes the vital role of the Nigeria police in internal security. He stressed further that the military needs the support of the police in all angles in order to achieve its mandate.

General Mabekowu assured the CP that he will do all it takes to make the Brigade work within a shortest possible period of time including deployment of other staff officers from the National Headquarters.

Responding, Azare explained that the Command has been working cordially with the military in the state and assured the August visitor that the command will do all it takes to strengthen the relationship especially in intelligence gathering and sharing.

Armed Herdsmen Invade Lagos…Chase Epe Land-Owners with Gun

In a petition dated May 10, 2021, the Ali Moibi-Balogun Family of Odo-Egiri Town in Eredo Local Council Development Area of Lagos seeks Governor Babajide Sanwo-Olu’s intervention after armed herdsmen forcefully took over their land and erected structures on it. In this interview with VICTOR AYENI, the lawyer for the Ali Moibi-Balogun family, Adeyemi Adegbite, explains the ordeal of the family

How long has the family been living on the invaded land?

Their forefathers handed it to them. In our petition, we said they inherited it from time immemorial. So, it predates Nigeria’s independence. You know in Yoruba culture, when you own a land, it is your father’s land from ages. It was not a land they came about in 10 or 20 years; it has been their inherited land.

At what point did they begin to notice the invasion on their land?

It was on March 4, 2021. That was the first instance that they experienced the incursion on their land. And then, they came back sometime in April.

How did the family members protect themselves during these attacks?

It was not all members of the family that were on the ground; they had some members and workers living on the land. Suddenly, these people invaded the land and started shooting indiscriminately. Probably, there have been some land trespassers who had been trespassing on the land. So, when they came and started shooting, the family members and their servants that were on the land escaped. That was on March 4. They reported to the extended family and that was when the family had to present the matter at the Noforija Police Station.

What was the response of the personnel at the Noforija Police Station?

As our petition captured, the first time the invaders came, the police responded swiftly. The people that invaded the land came with three motorbikes, a Honda Accord and the others were on foot. So, they were shooting indiscriminately to take possession of the land; then, those who escaped reported to the police. And as we said, the police at Noforija responded swiftly such that they were able to recover the Honda Accord that the invaders brought. Those on motorbikes, the three of them, escaped. Since then, the Noforija Police Station has been investigating it.

But all of a sudden it is like they developed cold feet such that even our client, the complainant, was treated like a suspect. It was at that point that they now briefed us and said they couldn’t take this; they needed a lawyer who would write a petition. That was when we came in.

Aside from the petition, which was aimed at giving a voice to this family, what do they want the government or the authorities to do for them?

Precisely, what they want is to get their land back and also to alert the government that there is danger somewhere in the Epe area, so that the government can quickly come and curtail the activities of the Fulani herdsmen. That is what is written in the petition. How can some strangers from nowhere just come and take their land?

As lawyers, we have to tell the whole world that there is fire on the mountain. The rooftop has caught fire; we can no longer go to sleep. The government should drag these people away so that there can be peace in Lagos State. We do not want Fulani herdsmen coming from anywhere to come and disturb the peace that has been prevalent in Lagos State. That is why we had to petition everybody. We wrote petitions to the governor, the House of Assembly, the Inspector-General of Police, Commissioner of Police and all that this thing should be nipped in the bud.

You described these people as Fulani herdsmen, how are you sure? What is the level of ammunition they have?

These people came with guns and were shooting. They had knives and charms all over them. I was not there, so I would not know if it was an AK-47 or whatever. But they shot at people. So, if someone invades your land with a gun, you should know that it is not a mere threat. They did not even come as if they were passing by, they came to settle down. After they came and drove everyone away between their first and second attack, they already built huts. My clients were watching, wondering what happened on their land. They were taking pictures.

We went to the police; the police came initially and anytime there was an incident, they went back to the police. At a stage, it seemed that the police were helpless; there was nothing they could do. You know, maybe they were compromised or whatever and couldn’t take any further step until we decided to blow this open. But even before then, some people had been threatening them (the family members). They had percolators on their land and they knew their names. The community leader is of no assistance to them. Life has become unbearable for them; they cannot go to their farmland, and all of that. So, the reports that were supplied to us were included in our petition. Whatever the authorities can do to come to the aid of our clients, we will appreciate it. And that will even save us the rigours of going to court, suing the government or suing people. If the government can stem it now, we will not need to go to court and say we want to file criminal action anywhere. That is the essence of the petition.

The family said the police branded them as suspects when they complained. Can you shed more light on this?

You see when the first occurrence took place, we said the police responded swiftly and they recovered some things, which we stated in our petition. After the second occurrence, something happened. What they expected the police to do, the police started to drag their feet. Yesterday, we were at the police area command and we met two DPOs from Noforija and Epe.

They gave us different versions of events. They said an incident occurred in which somebody got injured and they were trying to treat the person, but when they invited our clients, they failed to turn up. But our clients were saying that this particular DPO was not very cooperative with them and wants to turn them into suspects. So, this was what they briefed us about at the area command after we filed our petition.

That’s the most I know about this. It is not as if I have been following this thing for a long time, you know I was just brought in. They used another lawyer before, who was not available, who should be abreast of the facts. But because of the urgency of the case with herdsmen everywhere, everyone was apprehensive. We just wanted to do something so that we would bring it to the attention of the authorities.

Which police division or command was involved in this investigation?

That area falls under Noforija, but then, Noforija falls within Epe. But both DPOs there are hardworking. They stepped up and took this case seriously. In fact, when I met them, they had not even had some rest. They have been going up and down, trying to unravel the situation.

Are the herdsmen still occupying the land as we speak?

I have not been to the site. We lawyers rely on information provided to us by our clients. We attached some photographic evidence to our petition, so you could see that they were present. Then again, like I said, yesterday we were at the area command and we tried to get our clients to come to the area command, but they could not come. But then, when I called them to ask about their position if they were coming for the meeting at the area command, they told me that they noticed some herdsmen still on the land and they were trying to video them. Even when we got to the residence of my client at Epe with the DPO, the wife of the Olori Ebi confirmed to me that the Fulani herdsmen were still on their land.

Have the police visited the expanse of land to invite or arrest the suspects?

At the first instance in March, the police went there and recovered a car. That was when the DPO at Noforija said he saw someone there who was injured. I think he was bleeding on his head kind of, so he paid attention to him. Probably they might have gone back, you know, on some other occasions that we were not aware of.

Do you suspect that some powerful people in Abuja are supporting these herdsmen in some way?

Abuja? That is beyond my brief. We wrote a petition to the Inspector-General of Police. You see, this insecurity is nationwide, that is why we want to alert everybody. I wouldn’t know if anybody is supporting them. Support is a big word. I would not know if anybody is sponsoring or backing them from Abuja. My own is that we saw these people on the land and we have to alert the authorities.

Have the state government and House of Assembly responded to your petition?

Nobody has responded to our petition now except that the police are working hard. They are working round the clock. We have not received any correspondence from any authority. But I was even surprised, you see we did not write to the Commissioner of Police, we only copied him, yet the police are working. They are on top of the matter. They want to be sure that if there is such a thing, they will nip it in the bud.

– Culled from Punch Newspaper

Lagos Assembly asks Buhari to address nation

– Commends southern governors for banning open grazing

…Says restructuring of Nigeria long overdue

Members of the Lagos State House of Assembly resumed from the Sallah break on Tuesday with a call on President Muhammadu Buhari to address the nation over issues relating to insecurity and rising sectional agitations across the country.

 

 

 

The House also said it was standing by the decisions reached by the southern governors at their recent meeting in Asaba, Delta State.

 

 

Calling the attention of his colleagues to the communique released by the governors after the meeting, the Deputy Leader of the House, Hon. Noheem Adams, noted that the Lagos Assembly had always called for the establishment of state police.

 

 

Hon. Adams urged his colleagues to support the governors saying the latter had shown that they are alive to their responsibilities.

Adams, however, urged the governors to start restructuring in their states by implementing autonomy for state legislatures and judiciary.

He recalled how the Speaker of the House, Rt. Hon. (Dr) Mudashiru Obasa, as chairman of the Conference of Speakers of State Legislatures, led his colleagues to the president to seek autonomy for state legislatures and judiciary. He lamented that the governors had yet to implement it.

Speaker Obasa, who presided over the sitting, commended the governors for coming out at a period when insecurity had taken the ‘front seat’ of discussions. He also commended some members of the National Assembly for supporting the governors.

Obasa lamented the rise in the number of groups agitating for secession adding that Nigeria can be restructured if there is the will power.

“People are getting tired of the call for constitutional conference because nothing had happened to previous ones,” he said adding that Nigeria needs true federalism at this stage.

The Speaker said it was disheartening to know that two neighbouring states like Ogun and Lagos cannot unite to meet some of the needs of the people simply because such could be on the exclusive list.

Earlier in his contribution, Hon. Kehinde Joseph suggested that the National Assembly needed to amend the Act establishing the Nigeria Police Force for the creation of state police.

Speaking also, Hon. Jimi Mohammed, who supported the motion, said the decision of the southern governors boils down to insecurity adding: “We can’t clamour enough for the calls for state police.”

On his part, Hon. Sanni Okanlawon said the governors had made a statement by calling for the ban on open grazing which he described as archaic and has led to the death of many.

He said restructuring of the country is long overdue. He also commended the southern governors for their other decisions.

Hon. Ajani Owolabi supported the motion and opposed those arguing that the constitution makes provision for freedom of movement. According to him, people who move must be citizens and must not move with the aim to damage. He however lamented that the herdsmen had failed in these two areas.

Hon. Adedola Kasunmu, while supporting the motion, urged that some items such as power be moved from the exclusive list to concurrent.

“Our national grid is getting weak and if the opportunity is given to states, it would help. If you fix power, you have fixed everything,” he said.

For Hon. Sentonji David, the country urgently needs to act against insecurity. “This is the time for us to have a restructured country,” he said.

The leader of the House, Sanai Agunbiade added: “A country cannot be drifting this way and the President is quiet. The President must address this country and assuage nerves.

“The National Assembly should come up with a bill to address the issue of state police. The bandits are multiplying like amoeba.”

Hon. Adewale Temitope noted that the issue of insecurity had progressed rapidly and sent shivers down spines.

He commended the governors but urged them to also establish autonomy for state legislatures and judiciary.

He also lamented that most of the police officers in Lagos are from a particular region of the country and as such, they hardly understand the terrain and the people they are meant to protect.

Hon. Abiodun Tobun noted: “Cattle rearing is a private business. So it is supposed that you cannot use your business to stop my progress or movement.

“If truly we are practising true federalism, then each state should be allowed to secure its area.”

Others who contributed included the Deputy Speaker of House, Hon. Wasiu Eshilokun-Sanni, Hon. Rasheed Makinde, and Hon. Bisi Yusuff

OBA KAZEEM ADESHINA SALAMI SET TO CELEBRATES 2ND YEAR ANNIVERSARY

All is set for the 2nd year anniversary of one of the richest king, Oba Kazeem Adeshina Salami (Ilufemiloba I), the Osobia of Makun Omi as he marks anniversary in his newly built multi-million naira edifice palace at Ijebu water side, Makun from the 17th to 22nd of May, 2021.

 

 

 

The fun fair anniversary will kick start the marking of the 2nd year that the stylish king has taken over the thrown of his ancestors, the second day of the celebration of the Makun-Omi festival called (Okosi day), will be all about bestowing chieftaincy title on some personalities in the town on that day, football competition, Miss Osobia Beauty Pageant, special prayers will hold on May 21st.

 

 

The grand finale of the celebration will hold on May 22nd while the talk of the town anniversary in Ogun State particularly, Ijebu will be having in
attendance, personalities like, executive governor of Ogun State, Dapo Abiodun, Senator Lekan Mustapha as Chairman of the Day, His Royal
Majesty, Oba Babatunde Olaogun Ogunlaja Aladeshonyin of Odo Nofirija, Dr. Oluwatoyin, Ogun State Commissioner for culture and tourism, Hon. Adesegun Adekoya (attacker) Deputy, Minority Whip, just to mention but few among those who are billed to grace the event.

Unraveling the secret process of ITG’s dominance in Home Cinema

The Infinite Technology Global (ITG) is a name reckoned with. They are the top segment leader and influencer in home cinema’s , automation and recording studio construction. ITG’s latest project is named the Icon Cinema. It was created for one of Nigeria’s top business leaders and social icon. The main objective was entertaining family and friends. Looking at the results it
evident that they succeeded.

 

 

 

The Process
After meeting with the client to incorporate his design and ideas, the engineering began. The finished product had to be bold and stunning.

 

 

Acoustics
ITG used computer-aided analysis to create an acoustical model thereby identifying potential trouble spots within the venue. Then, numerous acoustic panels were erected to correct the space through balancing its reflectivity, diffusion, and absorption parameters.

 

 

Equipment
The astounding immersive sound is created by multiple JBL commercial speakers arrayed in a Dolby Atmos configuration. This is the same technology trusted in major cinemas around the world for accuracy and dynamic sound reproduction. ITG utilized a massive 154-inch 4k cinema screen in conjunction with a custom Ultra High-definition Laser projector flown in from
Berkeley California.

This combination creates breathtakingly life-like images with amazing detail. This homeowner can control every aspect of his system from a single press of the automated touch screen integrated by ITG.

Décor
All the amplifiers, sound processors and automation components are tastefully incorporated into custom-built cabinetry that blends seamlessly into the décor of the cinema.

The second level contains a custom crafted concession area with overflow seating and
additional purpose-built cabinetry. ITG arranged the lighting in multiple zones to allow various lighting scenes.

Finally, an elegant night sky, adorned with a vast number of pulsating fiber optic elements, completes the visual ambience.
For more information, contact ITG at
+234 701 296 6661 (Nigeria) +1 704 814 7730 (United States)
www.ITGng.com

Cattle valuable than oil and gas – Adamu Garba

Former Presidential Aspirant, Adamu Garba, has said that cattle have more economic value than the entire oil and gas reserve in Southern Nigeria.

 

 

 

Garba said this in reaction to the advice given by the Miyetti Allah Cattle Breeders’ Association of Nigeria, Bauchi State chapter, which required its members to vacate the 17 states in Southern Nigeria.

 

 

MACBAN gave the advice following a ban on open grazing issued by governors of the region after a meeting in Asaba, Delta State.

Reacting, Garba said on Twitter, “I perfectly agree with this proposal. All Fulani present in Southern Nigeria should come back. We shall use the cattle, process the resources, and sell all over the world as finished goods.

“Cattle have more economic value than the entire oil and gas reserve we have in Nigeria. Our major stakeholders in the North must admit cows as business opportunities not just culture & invest heavily to bring #CowToCurrency to reality. Cows alone can solve all Northern problems.

“The job opportunities, the manufacturing centers, & the connection to global hubs of demands for the best cattle meats can open more doors and set for the liberation of Northern Nigeria from cheap and somewhat, useless oil assets. We must invest in harvesting the value of cattle.

“A litter of Cow at N350 is much more than the value of a liter of oil at N145. With over 20 million cows, take 1/3 as milk-producing female on average of 5 liters a day, we’ll have almost N12Bn/day from cow milk. That’s about N700M/state/day. About N21Bn/State/Month.

That is much higher than the Monthly Allocation the largest state receives in the North. Again, each cow can generate a minimum of 3 Jobs. Rearing, Slaughtering, Processing, marketing, Selling, and management. 5M cows =15M jobs. I marvel at the laziness of Northern Governors.

Northern Governors think awarding contracts for building roads, taking their cuts is all they need for themselves. Doing so has subjected the North to condescension and dehumanization from some elements in the South. The time is now for them to wake up to our potentials.

It is becoming increasingly clear that the 2023 election is a game between cattle states and non-cattle states. Let’s be blunt about this. If Northern leaders do not wake up to this urgent reality, the target will not just be the cow, but the cow harboring states and their adherents.”

– Punch Newspaper

Changes to boards of First Bank and FBN Holdings guarantee stability – By S&P Global Ratings

S&P Global Ratings said changes to the boards of First Bank of Nigeria Limited and FBN Holdings (FBNH) Plc, recently directed by Central Bank of Nigeria (CBN), addressed the banking group’s corporate governance challenges and ensures the Nigerian banking sector’s financial stability.

 

 

 

In a statement, it stated that its ratings on FBN and other Nigerian banks remain constrained by shortcomings in corporate governance and transparency, among other factors.

 

 

The CBN recently replaced the entire boards of FBN and FBNH, and reinstated the former executive directors and CEO, Dr. Adesola Adeduntan.

 

 

The CBN had also requested FBN unwind certain exposures and divest from its participation in a non-permissible company, also pointing to potential corporate governance lapses at the bank.

“However, Dr. Adeduntan’s reinstatement and the re-appointment of the other executive directors underscores the CBN’s confidence in the existing management team to continue the turnaround of the third-largest banking group in Nigeria, which has total assets of Nigerian N7.7 trillion.

“We are of the view that the CBN’s historical approach has been more reactive than proactive, as illustrated by the Skye Bank episode. That said, recent actions, while disruptive in the near-term, may signal a more direct and possibly decisive supervisory approach to alleged failings in the management and governance of regulated institutions,” it stated.

It, noted that FBN’s overall credit profile has gradually stabilised since 2016, with a capital adequacy ratio of 17 percent in 2020, as against a 15 percent minimum requirement.

Similarly, the bank’s asset quality indicators improved significantly, with Non-Performing Loans (NPLs) reducing to 7.7 percent in 2020, from 20-25 percent since 2016.

Babcock VC lauds Nigeria’s first set of Church Admin diplomates

President, Church Administrators Society of Nigeria, Pastor Seyi Oladimeji, and Senior President and Vice-Chancellor, Babcock University, Prof. Tayo Ademola during the first graduation ceremony of diplomates of Church Administration (Executive Diploma) recently in Ilishan, Ogun State

The Vice Chancellor and President of Babcock University, Prof. Tayo Ademola, has lauded the 17 pioneer graduates of Church Administration (Executive Diploma) the first of their kind in the history of professional Christian education in Nigeria. He called them first fruits of the university in its collaboration with the Church Administration Society of Nigeria (CASON).

 

 

In his address at the graduation ceremony held Thursday in Babcock’s Ilishan-Remo, Ogun State campus, Ademola said, “I wish to congratulate the graduands for sticking to the battle to the end. They are the first fruits of our relationship with CASON in their bid to foster greater professionalism in the administration of churches in Nigeria.”

 

He further affirmed, “If there is a need for church workers to get or receive more training, the time is now. The world is getting more sophisticated and so are the members of our different churches.”

In his own remarks, CASON President, Pastor Seyi Oladimeji said, “By providence, our partnership with Babcock University was birthed in August 2017, followed by two years of intense preparation and today, we witness the graduation ceremony of the first set of university diplomates in Church Administration; a first in the history of the Church in Nigeria.”

Oladimeji concluded by saying, “The Church is a critical stakeholder in the building and development of a nation; to give direction towards peace and progress. Therefore, the Nigerian Church must rise to the challenges of our country. Hence the need for the upscaled training of church workers and stakeholders.”

The 17 diplomates, sourced by CASON, comprise of general overseers, pastors and career-minded church administrators. Already the second stream of candidates have been admitted for the 2021 Executive Diploma in Church Administration with registration ongoing, while the partners, CASON and Babcock hope to institute an Executive MBA in Church Administration a few years into the future.

Others at the ceremony were the Senior Vice President, Academics, Prof. Philemon Amanze; the Registrar, Prof. Jonathan Nwosu; and the Director, Babcock Centre for Executive Development, Prof. Johnson Egwakhe for the university.

CASON Board members in attendance were the Vice President, Pastor Steve Akoni; Secretary, Pastor Ayo Daniels; Treasurer, Mr. Segun Shelleh; Registrar, Pastor Segun Adegoke; Director of Media & Communication, Dr. Kunle Hamilton and Pastor Sunkanmi Obisesan.

Ecobank Partners Vanguard|Economic Forum Series, Convenes MSME Finance Summit On Lending To Small Businesses

Ecobank Nigeria and Vanguard Economic Forum Series have announced that they are convening an MSME virtual summit to promote and encourage lending  support for micro, small and medium enterprises (MSMEs) in the face of changing operating environment in the country. 

 

 

 

The virtual summit with the theme: Unlocking Credit Growth in a Changing MSME Lending Landscape, will be broadcast and streamed live via zoom platform scheduled for May 21st by 11am.

Click here to Register:👉 cutt.ly/ecobankmsme or

 

 

The conference in strategic partnership with Nigerian Association of Small & Medium Enterprises (NASME) and Small & Medium Enterprises Development Agency of Nigeria (SMEDAN) will convene keynote speakers and panelist from regulatory agencies of government, policy decision makers, non-governmental organisations (NGOs), business and industry thought leaders. The speakers and panelists carefully drawn from the banking, trade associations and other key sectors of the economy are subject matter experts in MSMEs and lending.

 

Confirmed speakers include Mr Olukayode Pitan, Managing Director/Chief Executive, Bank of Industry (BoI); Dr. Dikko Rada, Director General, Small and Medium Enterprise Development Agency (SMEDAN); Adenike Adeyemi, Executive Director, Fate Foundation; Eke Ubiji, Executive Secretary, Nigerian Association of Small & Medium Enterprises (NASME) and a representative of Central Bank of Nigeria (CBN), amongst others. The Guest Of Honour will be the Special Adviser to the President on Ease of Doing Business, Jumoke Oduwole, while Patrick Akinwuntan, Managing Director of Ecobank Nigeria will be the Chief Host.

 

Announcing the conference in Lagos, Emeka Agada, Country Head, SME Ecobank Nigeria Limited said the Summit as a thought leadership content platform would deeply dialogue on the critical role of MSMEs as the economic engine room of any prosperous nation and the need to support the sub sector with capital, including examination of key issues and ways of achieving the objective through digital financial inclusion for the MSMEs. He disclosed that there will be audience engagement of members of various trade groups such as NASME (Nigerian Association of Small & Medium Enterprises) and SMEDAN (Small and Medium Enterprise Development Agency ) with a view to detailing various lending options. He further  reiterated that the ‘Ecobank Digital Series’ is in line with the Bank’s vision to consolidate a modern pan-African market, contribute to the economic development and financial integration of the continent.

 

Also speaking, Jude Ndu, Director, Vanguard Conferences and The Economic Forum Series says: “As a follow up to the hugely successful Ecobank Digital Financial Inclusion virtual summit, we are indeed pleased and delighted with the ongoing high-level strategic partnership with Ecobank Nigeria in the area of concept development, synthesis, design and execution of high profile thematic bespoke events. The upcoming conference speaks to the strong sense of confidence the bank has in us to help curate thought leadership content and context for the brand in line with its marketing objectives.

 

He noted that the MSME conference would help Ecobank communicate and connect with Nigeria’s largely MSMEs on its lending options and support, adding that the bank will also showcase its strength in the digital banking space such as its  innovative digital payment channels like the  OmniPlus, Omnilite and digital sales collections channels like Ecobankpay NQR amongst other financial service offerings to close the large financial Inclusion gap and a direct response to mitigating the economic challenge post-COVID-19.

 

The Ecobank Digital Series is a virtual programme organised by Ecobank to educate and enlighten the public on crucial issues of public interest, especially as it relates to their financial empowerment.

FrieslandCampina WAMCO Accelerates Growth, records N199.5 billion turnover in 2020 Annual Results

From left, Executive Director, Corporate Affairs, Mrs. Ore Famurewa; Managing Director, Mr. Ben Langat; Chairman Board of Directors, Mr. Moyo Ajekigbe, OFR; Company Secretary/Legal Adviser, Mrs. Olubukunola Olateru and Executive Director Finance, Mr. Marc Galjaard, at the 48th Annual General Meeting of FrieslandCampina WAMCO Nigeria PLC held in Lagos recently

Top dairy company, FrieslandCampina WAMCO Nigeria PLC, makers of premium milk brands – Peak, Three Crowns, Coast, Nunu and Olympic has reported a turnover of N199.5 billion. This was announced at its 48th Annual General Meeting held Thursday, 6 May 2021, in Lagos.

 

 

 

Speaking at the AGM, the Chairman, Mr. Moyo Ajekigbe, OFR said, “the challenging operating environment in 2020 notwithstanding, the Company’s commercial and financial performance for the year showed considerable improvement compared to the previous year. Turnover increased by 23% in 2020 to N199.5billion from N161.8billion in 2019. This was due to a combined effect of organic and inorganic growth following the acquisition of Nutricima’s dairy business. Profit Before Tax however decreased by 20.3% from N18.8 billion in 2019 to N14.9 billion in 2020 as a result of high input costs and naira devaluation impact.”

 

 

The meeting was held in compliance with COVID-19 pandemic protocols, ensuring the health and safety of all stakeholders involved. The meeting was broadcast live for shareholders and other relevant stakeholders to participate in the proceedings in line with the “Guidelines on Holding of Annual General Meetings (AGM) of Public Companies Using Proxies” as established by the Corporate Affairs Commission.

All the resolutions submitted for shareholder approval were adopted, including the approval of a total dividend payout of N6.74 per N0.50 share.

As underlined by the Managing Director, Mr. Ben Langat, during his presentation on the financial results, “2020 was shaped by the Company’s continued focus on sustainable business processes. We leveraged our brands and superior commercial expertise to deliver impressive volumes during the year. FrieslandCampina WAMCO continues to be committed to nourishing Nigerians with quality dairy nutrition. Our Board and Management will continue to take necessary steps to ensure that the growth momentum is sustained.”

Explaining the Company’s response to COVID, Mr. Langat said, “From the very first signs of the Covid-19 pandemic, our Company defined three absolute priorities; protecting the health and safety of our employees; doing all that is necessary to ensure business continuity; and supporting Nigeria to manage through the crisis, therefore, a donation of N500 million was made to the COVID Relief Fund while over N100 million worth of products were donated to low income communities during the lockdown.”

Following its expansion drive, FrieslandCampina WAMCO acquired Nutricima factory in Ikorodu during the year under review. The acquisition underlines FrieslandCampina WAMCO’s continued commitment to contribute to the development of the Nigerian dairy sector and satisfies the need for additional production capacity for FrieslandCampina WAMCO to meet the growing consumer demand for locally produced dairy.

Under its backward integration strategy, the business aggressively expanded its activities to

strengthen the dairy value chain in Nigeria. Significant to this was the establishment of the Center for Nigerian Dutch Dairy Development,  Nigeria’s first national expertise Center for dairy, committed to unlocking and developing homegrown dairy expertise across the value chain. The business also established the Value4Dairy Consortium, a formidable partnership of FrieslandCampina WAMCO, URUS, Barenbrug and Agrifirm, committed to accelerate self-sufficiency in Nigeria’s dairy sector.

A look at Q1 2021 activities indicates continued economic headwinds in a volatile and uncertain business environment. However, FrieslandCampina WAMCO remains positive about the future of its business in Nigeria. The business is confident that our brands, which are well known, will continue to grow on the back of our strong business fundamentals and unique route-to-market strategy to achieve our business ambition.

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