Wema Bank’s Digital Bank, ALAT, Emerges Nigeria’s Best Digital Bank at Euromoney Awards 202
In recognition of its position as a digital pioneer in the African banking landscape, Africa’s first fully digital bank, ALAT, a trailblazing digital platform pioneered by Nigeria’s oldest indigenous and most innovative bank, Wema Bank, has been awarded Nigeria’s Best Digital Bank at the Euromoney Awards 2025.
Euromoney is a leading provider of competitive intelligence and benchmarking insight for the global banking and finance industry, trusted for over 50 years to deliver data-led analysis that informs strategy, validates performance, and supports decision-making at the executive level. The Euromoney Awards, pioneered by Euromoney, are regarded as the ultimate accolade in banking; the industry-leading stamp of approval that banks across the globe work yearlong to achieve. Recognised as Nigeria’s leading financial institution in digital innovation, Wema Bank’s revolutionary digital bank, ALAT, was awarded Nigeria’s Best Digital Bank at the Euromoney Awards 2025 held at The Peninsula London Hotel in London on Thursday, 17th July, 2025.
Since its launch on May 2nd 2017, ALAT has bridged the gaps in delivery of financial services to Nigerians within Nigeria and globally, evolving remarkably into a holistic hub of lifestyle and financial solutions for Nigerian adults of all ages and from all walks of life. From simply being the first fully digital bank in Africa, ALAT has evolved remarkably into a digital platform with an ecosystem of dynamic financial solutions tailored to provide seamless, reliable, and convenient service for all. With ALAT, basic financial services like transfers, airtime & data purchases, bill payments and loans are placed at the fingertips of users, in addition to a wide range of advanced financial services and solutions that merge banking with lifestyle.
From in-app local and international flight bookings to tailored personal and group savings options, investments and stocks, movie and event tickets, deals and discounts on a limitless pool of products and services, 24/7 health consultation, and a suite of customised loan options for salary earners and non-salary earners; ALAT changed the game, redefining banking and financial services in a world where digital has become the future. In view of ALAT’s groundbreaking role in blazing the trail for FinTechs in Africa and its intentionally-curated wealth of features and offerings designed to meet the needs of Nigerians in Nigeria and the diaspora, it is evident that the Bank is undeniably deserving of the recognition and accolade.
Underscoring Wema Bank’s commitment in shaping the future of banking through impactful innovations like ALAT, Wema Bank’s MD/CEO, Moruf Oseni, expressed appreciation to the Euromoney Awards for recognising the Bank’s impact on the proliferation of digital innovation in Africa, reiterating the Bank’s commitment to its sustainability vision of developing digital solutions for societal impact. Receiving the award, Oseni commented, “The world is moving fast and so is the permeation of ‘digital’ into the most critical aspects of our lives. 80 years ago when Wema Bank was established, typewriters were the extent of banking technology. Today, we have pioneered a fully digital bank, and possess technology advanced enough to power over 150 FinTechs. In ten years, one can only imagine what this fast-paced digital economy will bring. One thing is clear, any business, venture or institution that will remain relevant by the end of the next decade, must leverage digital technology today. This is why Wema Bank is so driven when it comes to digital. Innovation and empowerment”.
“As a Bank, our stance is clear. Wema Bank will never relent in empowering lives through innovation and developing digital solutions for societal impact. We will continue to pioneer innovation, empower innovators and bridge the gap between traditional and digital, leveraging the opportunities of the digital world to generate meaningful impact on lives and businesses in Nigeria, Africa and across the world. We have remained resilient in this commitment since 1945 and this award tells us that the world is feeling our impact. We are honoured by this recognition, and I take this opportunity to extend our sincerest gratitude to the Euromoney Awards. We take this as a challenge to keep up the good work, go harder, and continue going above and beyond in shaping the future of banking through digital innovation. Here’s to 80 years of impact and a future of limitless possibilities with Wema Bank”. Oseni concluded.
Wema Bank continues to raise the bar in financial services, placing Nigeria on the global map for banking and digital innovation. Since 1945, the Bank has spearheaded a positive transformation in Africa’s banking and financial landscape, proving that Nigerian-owned businesses have the capacity to last and stand the test of time. As the Bank celebrated its 80th anniversary on May 2nd 2025, its futuristic digital platform, ALAT simultaneously clocked 8, marking 8 years of digital transformation.
The world continues to watch in anticipation as Wema Bank leads the movement in digital innovation, shaping the future of banking in Africa.
ABOUT WEMA BANK
Established on May 2nd, 1945, Wema Bank is Nigeria’s oldest indigenous bank, most innovative, and pioneer of Africa’s first fully digital bank, ALAT. Commemorating a remarkable 80 years of impact and a future of possibilities, Wema Bank celebrated its 80th anniversary on May 2nd 2025 alongside the 8th anniversary of ALAT by Wema.
The publicly quoted Nigerian company has successfully built a legacy of trust, resilience and banking excellence that has won it the loyalty of its customers for 8 decades and counting. The Bank has remained innovative in delivering value to its stakeholders, constantly introducing products and services tailored to the needs of its customers at every stage of their lives.
Wema Bank is a proud partner to more than one million individuals, families, and businesses across Nigeria, helping them achieve their personal and financial goals.
Since its establishment in 1945, Wema Bank has built a legacy of pioneering innovation and empowering innovation to thrive, connecting traditional with digital and introducing several digital gamechangers and industry-firsts that have redefined standards across various industries and verticals.
From launching Africa’s first fully digital bank, ALAT, in 2017, Wema Bank went on to launch the ALAT For Business App, a business-focused version of ALAT; CoopHub App, a-first-of-its-kind digital solution designed to empower cooperatives for optimal productivity; Wema Phygital, a self-service implementation adding a digital touch to the physical experience in Wema Bank’s branches; ALATPay, an end-to-end payment gateway that provides instant settlement for business transactions; and the ALAT Xplore App, Nigeria’s first fully licensed banking app for teenagers, among others.
Political heavyweights and captains of industry have applauded the appointment of a former Minister of Works, Senator Adedayo Adeyeye, as Chairman of the Board of the Nigerian Ports Authority by President Bola Tinubu.
They paid tributes to the ex-minister at an event held in his honour in Abuja on Thursday night.
Among those who graced the occasion were Ekiti State Governor, Biodun Oyebanji; Senate Leader, Opeyemi Bamidele; former Ekiti Governors, Ayodele Fayose and Segun Oni; and a former Nasarawa Governor, Senator Tanko Al-Makura.
Also present were Chairman of the South West Development Commission, Senator Olu Adetumbi;
NPA Managing Director, Abubakar Dantsoho, Senator Iyiola Omisore; a former Ebonyi Deputy Governor Kelechi Igwe; and Senator Yemi Adaramodu, among others.
Senate Leader Opeyemi Bamidele, hailing from the same Ekiti State as the appointee, described Adeyeye as a resilient and loyal ally of President Tinubu.
“If anyone had told me it would take this long for Senator Adeyeye to be appointed, I would have said it’s impossible.
“He was among the first to champion this movement and stuck with it through thick and thin. That’s why this moment is not just a personal victory for him—it’s symbolic of loyalty finally being rewarded”, Bamidele said.
He urged NPA management to embrace the new board chairman, noting Adeyeye’s leadership strength and experience.
“Let me be clear. Senator Adeyeye is not just in office—he is in power. He has earned it. Work with him openly and transparently, and you’ll get the best from him”, he added.
The Former Minister of Defence, Musiliu Obanikoro, echoed Bamidele’s sentiments.
“You threw yourself into the SWAGA business when it wasn’t popular. When Asiwaju was taken with reservations, you took yourself into SWAGA, you criss-crossed the entire South West for Tinubu.
“The appointment you got is well deserved. I am happy that you have been recognised, and there is no doubt that bigger recognition will come. This is a precursor to what will come.”
Oyebanji described Adeyeye’s appointment as an honour to Ekiti State.
He said, “The President gave this position to Ekiti, and he could not have chosen better. Senator Adeyeye is loyal, intelligent, and deeply experienced.
“From his time as a Minister, a Senator, and a university council chairman, he brings the right mix of discipline, wisdom, and patriotism.”
He praised the unity displayed by Ekiti political leaders across party lines in honouring Adeyeye.
“I am lucky to be surrounded by four former governors who are all backing me. That has never happened in our state’s history.
“This new unity is the strength behind our progress,” he said, referencing the presence of Segun Oni and Ayodele Fayose.
In his remarks, Adeyeye expressed gratitude to Tinubu for fulfilling his promise.
“He told me not to worry, that he had plans for me. And he kept that promise.
“The President promised a quality board, and he delivered. We are ready to work together as a family and move the Port Authority forward.”
He also assured Oyebanji of his full backing ahead of the upcoming Ekiti governorship election.
“We’re not just supporting you, Mr. Governor. We’re going to win by a landslide.
“There is no opposition. The former governors, the people—they’re all behind you.”
Adeyeye called for an end to politics of bitterness and emphasised the importance of sustaining the prevailing peace in the state.
He further assured NPA Managing Director, Abubakar Dantsoho, of a harmonious working relationship with his team.
The Association of Licensed Telecommunications Operators of Nigeria has issued an urgent call for government and security intervention as a wave of vandalism and theft targeting critical infrastructure threatens to disrupt services nationwide.
The Chairman of ALTON, Gbenga Adebayo, said in a statement on Thursday that the surge in attacks on telecommunications facilities could lead to a nationwide network collapse if not urgently addressed.
Between May and July 2025, multiple incidents of vandalism were recorded at telecom cell sites in Rivers, Ogun, Osun, Imo, Kogi, Ekiti, Lagos, and the Federal Capital Territory, Abuja. The targeted attacks, according to operators, have disrupted services, caused prolonged network blackouts, and led to severe congestion, leaving millions of Nigerians without reliable connectivity.
“Since the Federal Government’s decisive interventions earlier this year to support industry sustainability, our members have made unprecedented investments in network optimisation and capacity upgrades.
“We are working tirelessly to improve service quality nationwide, but these acts of sabotage are setting us back”, the telecom executive stated.
According to ALTON, the telecommunications industry is currently undergoing its largest infrastructure expansion in recent years. Operators are modernising transmission equipment, overhauling power systems, and laying thousands of kilometres of fibre-optic cables to extend coverage and boost capacity. However, this progress is being undermined by increasing cases of theft and vandalism.
The association revealed that thieves are targeting essential telecom components, including power cables, rectifiers, fibre optic cables, feeder cables, diesel generators, batteries, and solar panels. These items, ALTON stressed, are not just ordinary materials but represent the backbone of Nigeria’s communications network, security systems, and digital economy.
“The affected infrastructure belongs to our members as well as other network operators who depend on these facilities to keep the country connected.
“When these components are stolen or vandalised, it is not only phone calls and data that are affected. Our banking systems, emergency services, healthcare, education, and national security platforms are all compromised”, operators said.
States with the highest number of reported attacks include Delta, Rivers, Cross River, Akwa Ibom, Ogun, Ondo, Edo, Lagos, Kogi, Kaduna, Niger, Osun, Kwara, and the Federal Capital Territory, Abuja.
ALTON warned of a growing black market for stolen telecom equipment. Batteries from telecom sites are reportedly being sold for home and office inverters. Solar panels stripped from telecom towers are resold to households, while diesel fuel meant for powering telecom base stations is being siphoned off and sold on the grey market.
“We urge the public to remain vigilant and avoid buying suspicious items,” the group noted. “If you purchase stolen telecom equipment, you are not just aiding criminals; you are participating in a national crime.”
Telecom infrastructure in Nigeria has been officially designated as Critical National Infrastructure under Federal Government Gazette No. 133, Volume 108, dated 17th March 2021.
According to ALTON, vandalism, sabotage, or illegal possession of telecom assets constitutes a serious criminal offence with severe legal consequences.
The operators warned that continued sabotage of telecom facilities poses a direct threat to Nigeria’s economic stability and national security, noting that mobile and broadband services support essential sectors such as banking, security, healthcare, and education.
In addition to deliberate acts of vandalism, ALTON cited frequent fibre cuts caused by uncoordinated road construction and civil works across the country. The association said road projects along highways and urban roads often destroy underground fibre optic cables, resulting in massive service outages and financial losses.
ALTON called on the Office of the National Security Adviser, the Inspector General of Police, the Director General of the Department of State Services, and the Commandant General of the Nigeria Security and Civil Defence Corps to immediately deploy security measures to protect telecom infrastructure and prevent a total collapse of communications services.
The association also commended the Nigerian Communications Commission for establishing a dedicated portal where citizens can report vandalism or suspicious activities. Nigerians are encouraged to use the portal by emailing protect@ncc.gov.ng or dialling 622.
“This is a desperate and urgent moment. The industry cannot handle this crisis alone. We need coordinated national action from security agencies, the government at all levels, regulators, the media, civil society, and the public. Our economic stability, national security, and digital future depend on it”, they said.
British inflation jumped unexpectedly to an 18-month high in June, official data showed Wednesday, heaping more pressure on the government and the UK economy.
The Consumer Prices Index increased to 3.6 per cent last month compared with an annual inflation rate of 3.4 per cent in May as motor fuel and food prices stayed high, the Office for National Statistics said in a statement.
June’s level was the highest since January 2024, according to the ONS, while most analysts had forecast no change.
The inflation update follows recent official data showing Britain’s economy unexpectedly contracted for a second month running in May, placing more strain on Prime Minister Keir Starmer and the UK government as it faces uncertainty caused by US tariffs.
“Inflation ticked up in June driven mainly by motor fuel prices which fell only slightly, compared with a much larger decrease at this time last year,” ONS acting chief economist Richard Heys said in a statement.
“Food price inflation has increased for the third month to its highest annual rate since February 2024,” he added.
In response, finance minister Rachel Reeves said “there is more to do” to help Britons “struggling with the cost of living”.
Analysts said that despite the rise in inflation, the Bank of England could still cut its key interest rate next month as the UK economy struggles to expand.
“The unexpected rise in CPI inflation… may not prevent the Bank of England from cutting interest rates by 25 basis points in August,” said Ruth Gregory, deputy chief UK economist at Capital Economics research group.
“But it will add to the pressure on the Bank to continue to cut rates at a gradual pace,” she added.
The Niger Delta Development Commission has alerted members of the public to a fake skills acquisition training purportedly sponsored by the commission.
The commission urged the public to disregard such claims by a group that is accusing the NDDC of not keeping to its promise to pay trainees for the said training.
In a statement issued in Port Harcourt on Tuesday, the NDDC stated that it had never engaged anyone or group to organise such training and urged the public, especially youths, to be cautious to avoid falling prey to swindlers.
The statement was signed by the NDDC Director of Corporate Affairs, Seledi Thompson-Wakama, and sent to newsmen.
The commission said its skills programmes are well-advertised and open to scrutiny.
It reads, “The attention of the Niger Delta Development Commission has been drawn to a report circulating in the media, claiming that the NDDC has failed to fulfil its promise to pay trainees for a purported skill acquisition programme.
“The supposed skill acquisition programme, said to have been organised by a religious group, Victorious Prayer Network, allegedly took place in Bayelsa and Rivers states.
“The self-appointed organisers claimed that the NDDC promised to sponsor over 2,000 trainees and give them starter packs. They accused the NDDC of reneging on that promise.
“We wish to clarify that the NDDC approved no such training programme, and whatever training was organised under suspicious circumstances did not have the blessings and approval of the Commission.”
The statement continued that the individuals behind these allegations against the NDDC were never engaged by the Commission to carry out skills training.
“We wish to state unequivocally that the NDDC is not behind this particular skill acquisition training. Our programmes are usually well-advertised and open to scrutiny.
“We recently launched a comprehensive technical skills acquisition programme to equip participants with practical, in-demand skills in Port Harcourt.
“Members of the public, especially our youths, are advised to be cautious and circumspect in dealing with some questionable persons claiming to be acting on behalf of the NDDC.
“It is disturbing that some mischievous individuals are trying to take advantage of our youths who are genuinely eager to be gainfully engaged in legitimate activities,” the statement added.
The NDDC assured our stakeholders of its commitment to transparency and fairness in all its activities, including youth empowerment and skill acquisition programmes.
“In light of this unfortunate development, we urge our youth to be wary of desperate people seeking undeserved financial gains.
“All inquiries about our youth empowerment programmes should be channelled through our official communication platforms. We also encourage beneficiaries of our programmes to verify facts on the NDDC’s official website and our social media handles,” the statement said.
The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, has said that the Federal Government, under the leadership of President Bola Tinubu, is committed to making Nigeria a gas-powered economy, having declared a decade of gas utilisation.
Ekpo said in Uyo on Monday while giving his remarks at the South-South Gas Utilisation Forum 2025, organised by Gas Aggregator Company Nigeria, with the theme: “Utilising Gas as a Catalyst for Sustainable Growth.”
The Minister who highlighted the benefits of a gas-powered economy called on participants to see the workshop as a turning point, where ideas are not just discussed, but implemented.
He said, ”Let us remember that this is not just a South-South agenda, it is a national imperative. The Federal Government, under the visionary leadership of President Bola Ahmed Tinubu, has declared the Decade of Gas and is committed to making Nigeria a gas-powered economy.
”The task before us is clear. The opportunities are vast. The tools are in our hands. Let this workshop be a turning point, where ideas are not just discussed, but implemented; where partnerships are not just promised but forged; and where we commit, collectively, to utilising gas as a true catalyst for sustainable growth in the South-South Region and Nigeria, as a whole.
”Let us move boldly from gas potential to gas prosperity: To move from gas potential to industrial hubs and innovation centres; To turn gas revenue into tangible impact for our communities; And to ensure that the people of the South-South region, especially our host communities, are not left behind, but carried along every step of the way, in line with the provisions of the Petroleum Industry Act (2021).”
The Minister, who noted that the South-South region remains the powerhouse of Nigeria’s natural gas production, providing the resource that fuels industries, powers homes, and earns us foreign exchange, however, lamented that the region is yearning for the full benefit of the resource it produces
According to him, “The South-South region remains the powerhouse of Nigeria’s natural gas production, providing the resource that fuels our industries, powers our homes, and earns us foreign exchange.
”Yet, paradoxically, it is a region that still yearns for the full benefits of the resource it produces. This workshop is, therefore, not just another meeting; it is a call to action.”
He urged participants to use the platform to forge practical solutions that will move the region from being a region of resource extraction to one of value addition, innovation, and inclusive growth.
In his remarks, the Governor of Akwa Ibom State, Umo Eno, who was represented by the Deputy Governor, Senator Akon Ayakenyi, acknowledged that the submit has not only deepened government’s understanding of the immense opportunities in the gas development across the South South region but has reinforced it shared commitment to collaborate actions, sound policy alignment and sustainable resource management.
Eno said the state government remains resolute in its belief that the gas sector, if properly harnessed ,can serve as a “catalyst for industrialisation, environmental innovations and inclusive prosperity for our people.”
In his welcome remarks, the Managing Director and Chief Executive Officer of Gas Aggregator Company Nigeria, Chijioke Uzoho, expressed commitment to partner with all stakeholders to ‘unlock the potential of gas commercialisation in the South-South region.”
He said the South-South region has the potential to be the driving force of Nigeria’s economic transformation, adding that real progress will come from effective partnership between the public and private sector actors and between the federal government and sub-national.
Uzoho restated the resolve of Gas Aggregator Company Nigeria to ‘partner with all stakeholders to unlock the gas commercialisation in the region.”
The president of the Money Lenders Association, Mr Gbemi Adelekan, has urged Micro, Small, and Medium Enterprises to adopt a healthy credit lifestyle in a bid to have access to financial opportunities for business growth.
In a statement on Monday, he said he has noticed a trend, especially with microloans, where individuals move from one lender to another for funding despite having bad debts with other lenders.
According to him, a healthy credit history makes it easier to get approval for funding, negotiate better interest rates, and gain access to larger loan amounts when needed.
He said that MSMEs with multiple unpaid loans, frequent defaults, and poor repayment records often get blacklisted or disqualified from future opportunities.
“Do you realise that most licensed lenders in the country will first check your credit reports with the Central Bank of Nigeria-approved credit bureaus when you apply for a loan?
“With a negative credit profile, a person is more likely to miss out on major opportunities, like getting loans for unexpected expenses or to support their business endeavour, now and in the future.
“That is because the more loans are left unserviced, the lower the chance of qualifying for any other loans or accessing credit with good terms and conditions which in turn saves money on interest,” he said.
It also relates to various aspects of being financially literate and understanding various aspects of finance, including budgeting, responsible borrowing, and maintaining a good credit history and track record.
For MSMEs that often operate with limited capital and tight cash flows, maintaining good credit could be the difference between growth and stagnation.
He noted that money lenders, including banks, financial technology firms, and cooperatives, now employ the use of technology to assess the risk worthiness of borrowers.
He said a healthy credit history signalled that the business was trustworthy and likely to repay loans.
Adelekan noted that many digital lenders in Nigeria and across Africa relied heavily on data and credit scores to approve loans.
Adelekan, also the Chief Executive Officer of Trafalgar Associates, owners of Kwikpay Credit, revealed that out of the over 1,000 personal and business loan applicants received daily nationwide, almost 40 per cent of them have a bad credit history.
He said, “We are using machine learning and algorithms to also analyse alternative data and non-traditional like transactions and lifestyle choices, as part of our risk assessment to extend credit, mostly starting with a low amount, to build up their transaction history with us.
”
‘This high number of people with bad credit reports, he stressed, must be reduced to the barest minimum to restore access to financing, protect business credibility and reputation, prevent over indebtedness and debt traps, and open doors to growth opportunities.
He asserted that there were validation mechanisms in place in line with approved credit bureaus to streamline beneficiaries.
He added that the company had plans to assist customers with its soon-to-be loan product service linked to financial education and financial wellbeing for customers.
Adelekan said the product would encourage customers to consider the repayment of defaults with other lenders when repaying monthly.
He added that it would consider additional factors such as educational background, employment, and income to assess loan eligibility.
Most Asian markets rose on Monday as investors digested Donald Trump’s latest trade war salvos that saw him threaten to hit the European Union and Mexico with 30 per cent tariffs.
Hong Kong, Shanghai, Sydney, Seoul, Singapore, Manila and Jakarta all rose, with Tokyo, Wellington and Taipei edging down.
Bitcoin hit a new record high of $119,490.
The US president’s outburst came after a series of announcements last week, including warnings of 50 per cent levies on copper and Brazilian goods, 35 per cent on Canadian goods, and a possible 200 per cent charge on pharmaceuticals.
While observers warn the measures could deal a hefty blow to the global economy, investors are largely optimistic that governments will hammer out agreements before the White House’s August 1 deadline.
In announcing his latest measures on Saturday, Trump cited Mexico’s role in illicit drugs flowing into the United States and a trade imbalance with the European Union.
The move threw months of painstaking talks with Brussels into disarray.
European Commission chief Ursula von der Leyen has insisted the bloc still wants to reach an accord — and on Sunday delayed retaliation over separate US duties on steel and aluminium as a sign of goodwill.
EU officials threatened in May to impose tariffs on US goods worth around 100 billion euros ($117 billion), including cars and planes, if talks fail.
French President Emmanuel Macron backed efforts to reach an agreement that “reflects the respect that trade partners such as the European Union and the United States owe each other”.
But he urged the bloc to “step up the preparation of credible countermeasures” if the two sides fail to reach an agreement.
Analysts also pointed out that the levies against Mexico and Canada come even after Trump agreed to a trade deal with the two during his first administration.
Still, Asian investors brushed off Friday’s losses in New York and Europe, remaining hopeful that governments will strike deals with Washington and avoid the worst of the tariffs.
“It is hard to say whether the muted market response over the week is best characterised by resilience or complacency,” said National Australia Bank’s Taylor Nugent.
“But it is difficult to price the array of headlines purportedly defining where tariffs will sit from 1 August when negotiations are ongoing.”
Traders are also keeping a nervous eye on the Federal Reserve as Trump continues to berate boss Jerome Powell for not cutting interest rates soon enough, saying Sunday “I hope he quits”, and adding “He should quit”.
Reports also said the president’s allies were targeting the Fed chief over his handling of an expensive renovation at the bank’s headquarters, with some suggesting they were building a case to have him removed over it.
However, strategists warned that such a move would bring the independence of the central bank into question and send US Treasury yields soaring and the dollar plunging.
– Key figures at around 0230 GMT –
Tokyo – Nikkei 225: DOWN 0.3 per cent at 39,469.72 (break)
Hong Kong – Hang Seng Index: UP 0.1 per cent at 24,174.34
Shanghai – Composite: UP 0.4 per cent at 3,524.93
Euro/dollar: UP at $1.1693 from $1.1690 on Thursday
Pound/dollar: DOWN at $1.3496 from $1.3497
Dollar/yen: DOWN at 147.01 yen from 147.38 yen
Euro/pound: UP at 86.64 pence from 86.59 pence
West Texas Intermediate: UP 0.1 per cent at $68.52 per barrel
Brent North Sea Crude: UP 0.1 per cent at $70.43 per barrel
New York – Dow: DOWN 0.6 per cent at 44,371.51 (close)
London – FTSE 100: DOWN 0.4 per cent at 8,941.12 (close)
Ekiti State Governor, Biodun Oyebanji, has hailed the National Automotive Design and Development Council for training and empowering technicians in the state to be better citizens and properly placed to contribute to economic growth.
Oyebanji, who said that the exercise “marks a significant milestone in our state’s commitment to skills development, wealth creation, energy efficiency, and environmental sustainability”, assured that he would sustain such training to boost employment generation and economic growth.
He spoke in Ado Ekiti on Saturday during the closing ceremony of a five-day specialised mechatronics training on repair and maintenance of both Compressed Natural Gas and petrol-powered tricycles and motorcycles, organised for technicians in Ekiti State by NADDC in conjunction with Simba Group Nigeria.
The governor, who was represented by the state Commissioner for Wealth Creation, Kayode Fasae, said the training came at a time the government was scaling up in the areas of economic empowerment, poverty alleviation, wealth creation and provision of critical infrastructure.
He said, “The motorcycles and tricycles you see across our towns and communities are not just modes of transportation. They are lifelines. For countless families, these vehicles represent livelihood, access, and connection. Ensuring their proper maintenance and functionality is not a luxury; it is a necessity.”
The governor added that the programme, whereby the trainees received skills upgrade and specialised empowerment equipment, “Will lead to the creation of employment opportunities for our youths and stimulate economic growth”.
He assured that, “on our part as a government, we shall continue to work with NADDC and its partners to sustain this programme, ensuring more youths acquire these important technical skills, thereby promoting economic growth in our state. This is more so in view of the inherent benefits in the programme.”
NADDC Director General, Joseph Osanipin, who charged technicians to constantly upgrade their technical skills to remain relevant and boost their economy, said that a skill-gap analysis conducted by NADDC “revealed that many mechanics lacked the expertise or tools to effectively service modern vehicles.”
Osanipin added, “This initiative, driven by the NADDC, aims to continuously bridge the skills gap and upgrade technical knowledge of auto-technicians, thereby creating job opportunities for youths in the Nigerian automotive industry as well as ensuring job retention and wealth creation for auto technicians.”
He said that the Council, in a bid to redress the trend of lack of expertise and tools, began various training programmes for auto-technicians to equip them with modern skills on vehicle repairs and maintenance, and also empowering the beneficiaries with equipment.
Osanipin said, “The Council, in collaboration with relevant stakeholders, has so far trained over 15,000 technicians through the Simba Group Nigeria Repair and maintenance of Tricycle and Motorcycles Mechatronics Programmes.
“We believe that this industry has the potential to contribute significantly to our nation’s economic growth and development, and we are working tirelessly to create an enabling environment that will support its growth.
“Through initiatives like this specialised training programme, we are providing the necessary skills and knowledge to our youths, equipping them with the expertise required to compete in the global automotive industry. We are also supporting the development of local content, promoting entrepreneurship, and encouraging innovation in the industry.”
Osanipin, who lauded Simba Group Nigeria, makers of TVS motorcycles and tricycles, for its tireless efforts, expertise and dedication to ensure the success of the training programme, also thanked Ekiti State Government for support and collaboration in the course of implementing the programme.
The NADDC DG charged the members of Tricycles Owners’ Riders Association of Nigeria and Nigerian Automobile Technician Association (NATA), who benefited from the training, tools and cash empowerment, to use the skills to elevate their careers and propel Nigeria’s automotive sector forward, especially in CNG tricycles repairs and maintenance.
The Regional Manager, Simba Group Nigeria, Mr Sumit Panda, who said expertise in current trends in technology would boost technicians’ economy, assured that his organisation would continue to train them as technology advances.
TORAN State Chairman, Talabi Akinola, hailed NADDC and Simba Group for the training, which he said had increased their technical skills and further exposed them.
Akinola assured that the 50 beneficiaries would each train some other technicians in TORAN and NATA to expand the scope.
