Doguwa Fires Back at Abdulmumini, Calls Kwankwaso ‘Grandfather of Insults’
Hon. Alhassan Ado Doguwa, Chairman of the House of Representatives Committee on Petroleum Resources (Upstream) and leader of the Northern Caucus, has responded to Rep Abdulmumin Jibrin Kofa’s warning against insulting former governor of Kano State, Senator Rabiu Musa Kwankwaso.
In a statement, Doguwa described Kwankwaso as the “grandfather of insults” and said he respects him despite their political differences.
He stated that Kwankwaso’s denigrating comments about the All Progressives Congress (APC) leadership triggered his cautioning.
“I have been in the House of Representatives since Jibrin was in school. I, therefore, expect him to respect me the way he wants me to respect his godfather, Kwankwaso,” Doguwa said.
“That Hon. Jibrin was never my mate and cannot match my sterling legislative experience, which dwarfs his in all forms.”
Doguwa also urged Kwankwaso to respect other leaders and stop inciting youths into taking the law into their own hands.
He recalled a viral video where Kwankwaso abused APC leaders in Kano state, calling them “Banzaye” (stupid people).
“It was based on that; I responded by calling him to order,” Doguwa said.
“I won elections to the House of Representatives seven times – polls starting from July 1992 when Professor Humphrey Nwosu was the chief electoral umpire.
“My constituents, by the Grace of Allah SWT, have continued to vote for me overwhelmingly to represent them, and by His grace, I have not disappointed them, and I won’t, Insha Allah.”
Doguwa expressed confidence in President Bola Ahmed Tinubu’s administration and urged Nigerians to exercise patience and give him sustained support.
“President Tinubu-led administration is working hard and will continue to do its very best to discharge its democratic duties for the benefit of all Nigerians,” he said.
10 Things You Need to Know As a First-Time Property Buyer and Why Adron Homes is the Best Investment Choice
Embarking on the journey of purchasing your first property can be both exciting and overwhelming, especially in a dynamic market like Nigeria’s. To help first-time buyers navigate this complex landscape, we’ve compiled ten essential tips that will guide you through the process and highlight why Adron Homes and Properties Ltd. stands out as the ideal investment choice.
1. Understanding the Market Dynamics
The Nigerian real estate market is characterized by regional variations and evolving trends. It’s crucial to research and understand these dynamics to make informed decisions. Adron Homes offers expert guidance to help you navigate this complex market with confidence.
2. Legal Considerations
Property transactions in Nigeria require meticulous legal documentation, including verifying land titles and ensuring compliance with local regulations. Adron Homes provides comprehensive legal support, ensuring your investment is secure and legitimate.
3. Financing Options
Exploring various financing options such as mortgages, payment plans, and government schemes is essential. Adron Homes offers flexible payment plans tailored to suit your financial situation, making homeownership more accessible.
4. Location Matters
The location of a property significantly impacts its value and potential for appreciation. Adron Homes develops properties in strategic locations with high growth potential, ensuring your investment is promising. Adron Estate locations: Abuja, Lagos, Ogun, Oyo, Osun, Ekiti, Nasarawa, Niger, Plateau
5. Property Inspection
Conducting thorough inspections before purchasing a property is vital. Adron Homes provides transparent and detailed property information, allowing you to make well-informed decisions with confidence. The company organizes a site tour for prospective buyers to see the estate they are interested in. This also helps to make an informed property decision.
6. Market Research
Conducting market research is crucial to understand property values, trends, and future prospects. Adron Homes offers market insights and expert advice, ensuring you make informed investment choices.
7. Developer Reputation
The reputation of the property developer plays a significant role in the quality and reliability of your investment. Adron Homes is renowned for its integrity, quality developments, and customer satisfaction with 12 years of doing real estate business in Nigeria.
8. Investment Potential
Considering the potential for property appreciation and rental income is essential. Adron Homes properties are strategically located to maximize investment returns, making them an ideal choice for both first-time buyers and seasoned investors.
9. Infrastructure and Amenities
Evaluating the availability of infrastructure and amenities such as roads, schools, hospitals, and recreational facilities is important. Adron Homes ensures that its estates are well-equipped with essential amenities, enhancing your living experience.
10. Customer Support and After-Sales Service
Reliable customer support and after-sales service are crucial for a smooth property buying experience. Adron Homes prides itself on excellent customer service, providing ongoing support and maintenance services to its clients.
Don’t let the complexities of the real estate market deter you from achieving your dream of home ownership. With Adron Homes, you have a trusted partner to guide you every step of the way. Explore our properties, take advantage of our flexible payment plans, and join the countless satisfied homeowners who have made Adron Homes their choice for a secure and prosperous investment.
Contact Adron Homes today to start your journey towards owning a quality home in Nigeria. Visit Adron Homes and Properties Ltd. or call our customer support team at 08138432335 for more information.
Planned Nationwide Protests: Adobokashi For Edo Welfare Initiative, AFEWIN, Offers Advisory Tips To Citizens And Governments
The planned nationwide protest against hunger and hardship slated to take off from August 1, 2024 in Nigeria has caught the attention of *Adobokashi For Edo Welfare Initiative, AFEWIN,* a registered non-partisan advocacy group, seeking improved socio-economic and democratic governance for Edo State.
In an online emergency meeting on Tuesday, July 30, attended by the local and international leadership of the NGO, AFEWIN noted, that the economic situation in Nigeria which also affects the people of Edo State, is “greatly worrisome.”
The NGO emphasized that much as the citizens are at liberty to express their grievances over unfriendly government policies, they should shun untidy arrangements that would inspire hoodlums to hijack the process with likely resultant lose of lives and destruction of property.
A statement issued by AFEWIN Secretary, Mr. Fidelis Anenih stated that the clarification has become imperative in view of the media hype and the frightening dimension the planned protests have taken.
According to the statement, the President of the NGO, Mr. Benson Ehiagwina, a Japan based businessman said: “Nigeria is in the news again and global focus is on Nigeria but for the wrong reason.
“The United States, United Kingdom, and Canada have issued security alerts to their citizens in Nigeria, warning of potential violence during the planned nationwide protests tagged: #EndBadGovernance protest.
“As an NGO, we are worried about what is happening back home in Nigeria.
“We are calling on the federal government of Nigeria to recalibrate its policies to avoid a repeat of what is currently playing out.
“We are also calling on the National Assembly to square up with their oversight responsibilities so that annual budgets can be achieving above 80 percent implementations for the citizens to feel the impacts of their votes.
“While Edo State will not be isolated from this planned protests, our previous advisory to the government and citizens of the State on the basis of sincere commitment to a better Edo, still stands.
“In the planned protests, Edo citizens should endeavour to be different by shunning roadblocks, traffic congestion, physical confrontations, firing of guns, breaking into shops to steal and destruction of both government and private properties,” President Ehiagwina advised.
The NGO however, offered the following cautionary tips
Titled: Advice to the Protesters in Edo State.
It reads:
Maintain Peaceful Intent
Peaceful protest its fundamental human right of the citizens. It is essential to remember the core purpose of your protest. Keep the focus on peaceful expressions of discontent. Non-violence can often lead to more constructive dialogue and change.
Organize Effectively
The protest organizers should ensure they plan the protest thoroughly. Have designated leaders, communicate clear messages, and establish a safe route. Ensure everyone understands that violence or destruction is not acceptable.
Engage with the Media
Utilize media coverage to share the purpose and messages of your protest. Ensure that your narrative focuses on economic hardship and the need for solutions rather than any acts of violence.
Invite Dialogue
If possible, invite government representatives or civil society leaders to engage in discussions during the protest. This could lead to a constructive exchange of ideas and show that your intentions are rooted in seeking solutions.
Educate Participants
Prepare all participants with information about the issues being protested, as well as strategies for de-escalating any potential tensions. Knowledge is a powerful tool.
Document the Process
Consider having legal observers present to document the event, ensuring that any interactions with the police or government officials are recorded. This can help protect protesters’ rights.
Stay United
Foster an atmosphere of solidarity among participants. A unified front communicates strength and purpose, while division can lead to misunderstandings and conflict.
Message to the Government
Listen to the Citizens
It is crucial for the government to actively listen to the concerns of its citizens, especially regarding economic hardship. Taking their grievances seriously is a step towards rebuilding trust and fostering a sense of community.
Engage in Meaningful Dialogue
Establish channels for open communication with protest leaders and community representatives. This can pave the way for collaborative problem-solving that addresses the economic challenges people are facing.
Implement Supportive Policies
Beyond acknowledging the protests, the government should consider implementing policies that directly alleviate economic hardship, such as job creation initiatives, social welfare programs, and addressing inflation.
Demonstrate Empathy
Show understanding and compassion for the struggles faced by ordinary Nigerians. A government that communicates care for its citizens’ welfare will foster loyalty and reduce tensions.
Promote Non-violence
Encourage peaceful dialogue and protest, and assure citizens that they can express their concerns without fear of violence or repression. This will promote a more stable environment for all.
“By adherence to these advisory and fostering a climate of peace and communication, both the protesters and the government can work together towards solutions that benefit everyone,” the NGO stated
ETI Disowns Statement Against Reps Deputy Spokesperson Agbese, Accuses Ex-Members of Impersonation
…Says sack of NNPCL, NMDPRA leadership long overdue
The Energy Transparency Initiative (ETI) has disowned a statement made by individuals claiming to be its representatives, criticizing Hon. Philip Agbese, the Deputy Spokesperson of the Federal House of Representatives.
The group’s President and Secretary, Francis Nedu and Ismaila Bello in a joint statement, revealed that the persons were expelled long ago due to fraudulent activities and other abuses that contravened the group’s objectives.
“We are shocked and dismayed that these individuals would continue to impersonate ETI and make statements that do not reflect our values and mission,” the statement read.
“Their actions are a clear attempt to blackmail and extort money from innocent parties, and we condemn their behaviour in the strongest terms.
“The leadership of ETI is aware that some government agencies have released as huge as $500,000 to the impostors to blackmail Hon. Philip Agbese and other National Assembly members who want sanity in the oil and gas sector.”
The statement expressed support for Hon. Agbese’s claims of deliberate attempts by the Nigerian Petroleum Company Limited (NNPCL) and Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to discredit Dangote Refinery company.
The group said Agbese demonstrated exceptional leadership and courage in “exposing the truth” and applauded his efforts to protect Nigerian entrepreneurs and promote indigenous businesses.
“Agbese’s dedication to serving the people and upholding the principles of fairness and transparency is exemplary,” the statement added.
“He has shown that he is a true representative of the people, and his actions have earned him the respect and admiration of many. We are proud to support him and stand by him in this matter.
“NNPCL and NMDPRA have shown a clear bias towards International Oil Companies (IOCs) and have consistently frustrated the efforts of Nigerian entrepreneurs.
“Their actions are a disservice to the nation and undermine the government’s efforts to promote indigenous businesses.”
The ETI, therefore, expressed support for the House of Reps call for the Chief Executive Officer of NMDPRA, Farouk Ahmed to resign.
“Agbese’s reiteration of the House’s earlier call for the NMDPRA boss to be sacked is the position of many Nigerians who mean well for President Bola Ahmed Tinubu,” the statement said.
“We believe that the dismissal of the NNPC Group CEO Mele Kyari is long overdue as well. The ETI calls on President Tinubu to take immediate action to address this issue and ensure that these regulatory agencies serve the interests of the nation, not just a select few.”
ETI, however, said that it had taken legal action against the imposters and already involved law enforcement agencies to ensure that they were brought to justice.
“We will not tolerate any attempts to impersonate our organization or make false statements that damage our reputation,” the statement noted.
“We urge all stakeholders to remain vigilant and uphold the principles of fairness and transparency. We will continue to monitor developments and ensure that all actions and policies are aligned with the national interest, free from undue influence or partisan agendas.”
Pondering the Remarkable Policies of Utsev as Water Resources Minister
By John Peters
The affirmative impacts of the water value chain on the entire universe and global communities cannot be overstressed. Many logicians support the aphorism “water is life” because human existence in every ramification relies on the availability of the water value chain. The entire universe cannot function for a second without H2O; thus, water is the air we breathe. It shelters us, and machines cannot be made without water. Every living and non-living thing begins and ends with water. Subsequently, “water is indeed life.” Life without water is meaningless.
Thanks to the late Afro-beat artist Fela Anikulapo Kuti, who praised the neutrality of water in one of his albums. Though many may interpret Fela’s song on water as having no time to keep enmity, if he were alive today, I would have given him accolades for praising water’s neutral stance. Fela anchored that water has no enemy, as even adversaries cannot do without water.
Besides, the Bible describes the world as being without form and void, with the spirit of God moving upon the waters (Genesis 1:2). This means the universe came to meet water on earth. I would have loved to sing more praises of water, but I must switch to the main issue that motivated me to write this piece: the impactful policies of Professor Joseph Utsev, the present Honorable Minister of the Federal Ministry of Water Resources.
No doubt some readers may have different views regarding his policies; however, facts don’t lie, and technology has made every segment of human existence and the global community transparent. So, I may be correct in respect of the facts at my disposal to appraise his remarkable policies on the water value chain in Nigeria.
The positive policies of Professor Utsev, a thoroughbred engineer with a proficient touch, cut across over 80,000 council wards that formed the 777 local government areas in Nigeria. His leadership has positively impacted every segment of Nigeria. To say the Federal Ministry of Water Resources under President Ahmed Bola Tinubu’s administration is renewing Nigerians’ hope in water supply, sanitation, and economic purposes could be an exaggeration. However, Professor Utsev’s visionary leadership style, attested to by experts as the best thing that has happened to the Federal Ministry of Water Resources since its establishment, is beyond imagination. His technocratic display of leadership prowess has placed the water resources ministry on the map of best-performing countries in the water value chain.
To say the Federal Ministry of Water Resources under the administration of His Excellency President Ahmed Bola Tinubu is renewing Nigerians’ hope in the area of water supply, sanitation and using water for economic purposes could be said to be an exaggeration. This is true because the visionary leadership style of Professor Joseph Utsev which many experts in the water value chain attested to as the best thing that has ever happened to the Federal Ministry of Water Resources since her establishment is not just beyond imagination but a wonder and technocratic display of professionalism which in all standard is placing the water resources ministry under the renewed hope mantra of his Excellency President Ahmed Bola Tinubu on the map of best-performing countries in the water value chain.
His technocratic display of unimaginable leadership prowess on assumption in office, having devoted the best of his time as an erudite scholar for the past 17 years with broad knowledge and experience on water sanitation, hit the ground running as Nigeria’s Honorable Minister for Water Resources by instantly putting up suitable modalities to curb the then high rate of flooding in the year 2023 raining season which caused a lot of devastation across the 36 states of Nigeria especially the flood-prone areas in Nigeria.
He also in the year 2023 on assumption in office achieved a lot in the area of erosion control especially in the south-eastern region of Nigeria, which before he was appointed Honorable Minister for Water Resources caused a lot of havoc in most of the communities in the five state in south-east Nigeria. At this moment, due to the visionary leadership styles of Professor Joseph Utsev as Honorable Minister for Water Resources, most of the communities seriously damaged as a result of erosion in Nigeria especially in the southeast geo-political zone in Nigeria can now have a sigh of relief. His combined proficient efforts with the state minister of water resources Barrister Goronyo are also yielding positive results, especially in the area of dry season farming which normally commences after raining season.
To achieve greater output in the area of irrigational farming, he and the minister of state Barrister Muhammed Goronyo initiated an irrigational farming campaign across the six geo-political zones within the federation and the riverine areas in particular. As expected, the nation’s gross domestic product (GDP) as a result of the irrigational farming system is increasing beyond imagination, especially in the area of fruit farming, rice and other cash crops. The 12 River Basin area in Nigeria is also receiving qualitative attention from Professor Joseph Utsev’s fantastic and highly productive leadership style. On his assumption in office, he hit the ground running by holding frequent meetings with the twelve Managing Director of the 12 River Basin Authority in Nigeria.
The aim is to arouse them to come up with workable policies that can be used to cushion or even to alleviate the suffering of Nigerian masses through the use of water to initiate projects that have positive impacts on every Nigerian in the area of rural, urban and economic development. After the meeting with the Managing Director of the Twelve River Basin Development Authority, he embarked on a tour of all the River Basin headquarters for firsthand information about their operation to know the precise challenges they are facing. During most of the tour, he was moreover able to visit the locations of the Earth warn dam established by the federal government but needed the necessary professional touch to keep them functional to boost the economy of the country.
A prominent earth warn dam visited in the course of his national tour was; the Hadeja Dam in Kano, Kano State. Due to space constraints; I may not be able to highlight all his earthshaking achievements over the last year of piloting the affairs of Nigeria’s water resources value chains, which is making his name become a topic of discussion in every nook and cranny of Nigeria. However, let me highlight just a few! Professor Utsev as a technocrat in the water sector clearly defines dreams and visions for Nigeria’s water value chain, on assumption in office, initiated the taken off of the fractional commercialization policies of the 12 River Basin Development Authority across the six geo-political zones in Nigeria. The aim is to boost productivity and to as well fuel effective service delivery.
For instance, during his tour to the Hadeja water Dam in Kano, Kano State, he commissioned some projects that have good positive impacts on people, especially in the area of job creation which of course will boost the economy of Nigeria especially the indigenes of Kano State. Before I forget, his impacts on the staff welfare in the Ministry and all the agencies, parastatal and commissions domiciled under the Federal Ministry of Water Resources is second to none. A mere look at the staff working at the Federal Ministry of Water Resources will convince an individual that they are doing very well all thanks to the good leadership prowess of Professor Utsev who is doing his best that their emolument is constantly paid to boost their working spirit.
The infrastructure of the ministry is also receiving good attention above all in the area of renovations and provisions of working tools. It is also on record that the 777 LGA in Nigeria including the six area councils in Abuja is receiving serious attention in the area of providing constant pipe-borne water as well as rehabilitating some of the water plants that for so many years have been in comatose. It is given this few out of his tremendous mindboggling encouraging performance across the board both at the rural and urban areas that experts in the water sector and community development commentators are daily singing his praises by saying that if at all there is any minister that deserves excellent award or reward for keeping to the renewed hope agenda of His Excellency President Ahmed Bola Tinubu, such person should be Honorable Minister for water resources Professor Joseph Utsev.
Just In: Lagos Assembly Pleads With Youth Over Planned Protest
– asks Sanwo-Olu to organise stakeholders’ meeting
The Lagos State House of Assembly on Thursday held a plenary session calling on Governor Babajide Sanwo-Olu to take major steps to avert the planned nationwide protest in the State.
The lawmakers, in a ‘Matter of Urgent Public Importance’ brought by Majority Leader Noheem Adams, noted the devastation caused by the EndSARS protest of 2020 in Lagos and urged the governor to organise townhall meetings with major stakeholders to fashion out ways to calm the youth and those who plan to support proposed protest.
One of the meetings, according to the motion of the House, should be held between the governor and elected political leaders including senators, members of the House of Representatives and state lawmakers while a second meeting should be held with traditional rulers, religious leaders, heads of market, those in the transport sectors and related stakeholders.
Speaker of the House, Rt. Hon. Mudashiru Obasa, said it was necessary for state governments to do the needful to calm frayed nerves and ensure protection of lives and property.
Dr. Obasa said Lagos was still grappling with the impact of the EndSARS protest just as he appealed to the youth to be patient with the government of Asiwaju Bola Tinubu that is making effort to see a better Nigeria that would benefit the citizens.
The Speaker noted that Kenya is currently in a terrible situation adding that the crises in Sudan and Syria started in the same manner.
He commended the commissioner of police in Lagos, Adegoke Fayoade, for meeting with community heads over the planned protest.
Obasa called for an urgent meeting with all leaders, including religious, traditional and related organisations in the state for discussion that would help dissuade the youth from engaging in the protest.
Earlier in his motion, Hon. Adams (Eti-Osa 1) drew the attention of his colleagues to the planned protest.
“I want to plead with our people to shelve this protest,” he said noting that President Tinubu had shown that he is ready to listen to the citizens, especially as he has raised the minimum wage from N30,000 to N70,000.
On his part, Hon. Kehinde Joseph expressed worry that the proposed protesters do not have leaders who can be discussed with.
He urged for patience stressing that whatever is happening in the country “affects us all.”
Hon. Sa’ad Olumoh said President Tinubu understands the problem in Nigeria and was taking the right steps against the country’s collapse.
He also urged Nigerians to start focusing on governors because federal allocations to states have grown under the President.
Other lawmakers who spoke during the debates urged parents to persuade their wards from joining the protest or allowing themselves to be used to commit crimes.
EXCITING PRIZES TO BE WON WITH FIRSTBANK VISA GOLD AND VISA INFINITE CARDS IN THE 2024 SUMMER CAMPAIGN
FirstBank, the West African premier financial institution and financial inclusion services provider announces its continuous VISA Cross Border and Summer campaign in partnership with VISA. The campaign, which commenced on 1 April 2024, is set to run until 31 August 2024 as a rewarding initiative for existing VISA Gold and VISA Infinite cardholders and prospective customers.
Throughout the campaign, 502 lucky Visa Infinite and Visa Gold cardholders will win $50 gift vouchers. 2 cardholders will enjoy an all-expense-paid trip for two to the Olympic Games in Paris, France. The promo offers an excellent opportunity for cardholders to enjoy the premium benefits of using their FirstBank VISA cards while standing a chance to win fantastic rewards.
To qualify for this exciting offer, Visa Infinite and Visa Gold cardholders must spend $500 and above in at least six transactions during the campaign period.
Speaking on the promo Chuma Ezirim, the Group Executive E-Business and Retail Products, FirstBank said, “We are excited to reward our loyal customers and users of FirstBank Visa Infinite and Visa Gold cards, whilst also welcoming new customers through this campaign. This promo underscores our commitment to reward our customers with innovative and impactful offerings designed to enhance their banking experience.
“We appreciate Visa for the partnership as we deliver value and create memorable experiences for our customers.”
The FirstBank Visa Gold card is an international premium credit card issued in partnership with Visa International. It is a US Dollar-denominated card secured by chip and PIN technology, ensuring both convenience and security for users.
On the other hand, the FirstBank Visa Infinite card is the pinnacle of the Visa card range, targeted at High-Net-Worth Individuals. This card offers an extraordinary selection of exclusive travel, dining, shopping, and lifestyle opportunities, providing unparalleled benefits to its holders.
How Adron Homes Transform Shimawa into Ogun State Premier Real Estate Hub
Shimawa, a once tranquil and little-known town in Ogun State, has emerged as the premier real estate location in the region, thanks to the transformative efforts of Adron Homes. This metamorphosis has redefined the town’s identity, making it a beacon of modern living and investment opportunities.
Adron Homes’ strategic initiatives have played a central role in Shimawa’s transformation. By developing numerous estates with state-of-the-art amenities, Adron has set new standards for residential living. These estates are equipped with modern infrastructure, including well-paved roads, reliable water supply, and efficient drainage systems, enhancing the quality of life for residents. The real estate has sold out four estates in shimawa over 10 years and is currently selling five different estates in shimawa.
List of Adron Homes Estates In Shimawa
Treasure Park and Gardens Estate Phase 2 (City of David)
Treasure Park and Gardens Estate Phase 3 (Capetown)
Treasure Park and Gardens Estate Phase 3 Extention (Jerusalem City)
Treasure Park and Gardens Estate Phase 4 (Jerusalem Extention)
Treasure Park and Gardens Estate Phase 5 (City of God)
Adron Homes has introduced a range of affordable housing solutions that cater to different income levels. This inclusivity has attracted a diverse population, fostering a vibrant community. The availability of affordable, yet high-quality housing options has made Shimawa an attractive destination for both first-time homebuyers and seasoned investors.
The influx of new residents and businesses has spurred economic growth in Shimawa. Adron Homes’ developments have created numerous job opportunities in construction, real estate management, and ancillary services. This economic activity has not only improved the standard of living for many but has also positioned Shimawa as a hub for business and commerce in Ogun State.
Adron Homes’ commitment to sustainability is evident in its eco-friendly initiatives. Green spaces, parks, and recreational areas have been incorporated into the estates, promoting a healthy and sustainable lifestyle. These efforts have not only beautified the town but have also contributed to the well-being of its residents.
Shimawa’s transformation has caught the attention of investors, both local and international. The town’s strategic location, coupled with Adron Homes’ high-quality developments, has made it a prime investment destination. This influx of investment is set to further accelerate Shimawa’s growth and development.
Adron Homes places a strong emphasis on community building. Regular events, social gatherings, and initiatives to foster a sense of community have been integral to the company’s approach. This focus on community has created a welcoming and cohesive environment, making Shimawa not just a place to live, but a place to thrive.
The transformation of Shimawa into Ogun State’s best real estate location is a testament to Adron Homes’ vision and dedication. By providing affordable housing, fostering economic growth, promoting sustainability, and building a strong community, Adron Homes has set Shimawa on a path to continued success and prosperity. As a model of modern urban development, Shimawa stands as a shining example of what strategic planning and investment can achieve.
REDAN leadership Visits Adron Homes, commends Efforts of Real Estate to Nigeria’s GDP
The President of the Real Estate Development Association of Nigeria (REDAN), Prince Akinloye Adeoye, along with his Executive team, which consist of Dr Kunle Adeyemi, Vice President, REDAN(South/ West) and Mr Jide Ogunleye, REDAN Secretary visited the Chairman and Group Managing Director of Adron Homes and Properties, Aare Adetola Emmanuel King, at the company’s headquarters in Omole Phase 1, Lagos.
During the courtesy visit, the team headed by Prince Akinloye applauded Adron Homes and Properties for its efforts in providing affordable housing schemes and praised the company for consistently bridging the gap between the masses and affordable urban development. Prince Akinloye also commended Adron Homes for transforming many individuals from tenants to landlords, emphasizing the company’s transparency, commitment, and reliability which has set a positive example for other real estate brokers in Nigeria.
He highlighted the significant contribution of the real estate sector to Nigeria’s GDP, citing statistics from the Nigeria Bureau of Statistics for Q1 of 2024. He stressed the need for the government to uphold development standards, enhance industry regulations, and eliminate unethical practices in the real estate business. According to the Nigeria Bureau of Statistics, the real estate sector contributed N11.2 trillion, representing a 5.20% share of the GDP in Q1 of 2024. Although the sector showed nominal growth compared to the previous year, its real GDP growth was lower at 0.84%. He also disclosed that 11 trillion is more than enough to prove that real estate business in Nigeria is a lucrative business that has come to stay and also implored the government to remain committed to upholding tenets of development and enhancing regulation of the industry to meet global practices and also make quackery in the business a thing of the past.
“The construction sector contributed 4.0% to the GDP, with a nominal growth of 10.24%, though it experienced a real growth rate decline of -2.14% year-on-year. Experts attribute this growth to increased government policies and investments, growing population demands for shelter, and significant contributions from the Nigerian diaspora.”
The Host, Aare Adetola Emmanuel King also commended the effort of the REDAN President and his team for their listening ears and also their constant proactive steps to ensure the industry is well regulated and all ethics of the industry is upheld. He also disclosed that Adron Homes will always be in partnership with the leadership of REDAN and will remain committed and continue to serve as an example to other real estate players on the issues of integrity and sincerity of purpose. He also disclosed that the visit will further rejig Adron’s commitment to more development of Homes and also continued partnership with the government to ensure affordable homes get more handy for all sundry.
Aare Adetola also implores the leadership of REDAN to enact more policies that will further put the business on a high pedestal which will enhance more funding, more investment through Foreign Direct Investment and also getting government support in the reduction of building materials and other household items which is currently serving as a bottleneck for the development of the business which has caused many Real estate companies to fold up, while some have started cutting corners due to high rates of materials.
“When materials are quite affordable, real estate will thrive. There would be buyers and off-takers. But with the current prices of cement, wood, nails, paints etc the prices of real estate are soaring high to the roof Government intervention and reducing tariffs on the importation of building materials will help cushion the effect and also put many back in business. Adron Homes and Properties is committed and we are here for collaboration for national development.”
ZENITH BANK EMERGES NIGERIA’S TIER-1 CAPITAL LEADER FOR THE FIFTEENTH CONSECUTIVE YEAR IN THE 2024 TOP 1000 WORLD BANKS’ RANKING
For the fifteenth consecutive year, Zenith Bank Plc has retained its position as the Number One Bank in Nigeria by Tier-1 Capital in the 2024 Top 1000 World Banks’ Rankings, published by The Banker Magazine. This ranking places Zenith Bank Plc as the 565th Bank globally with a Tier-1 Capital of $2.01 billion. The rankings, published in the July 2024 edition of The Banker Magazine of the Financial Times Group, United Kingdom, recognise Zenith Bank’s continued financial strength and stability. They are based on the 2023 year-end Tier-1 capital of banks globally and remain the primary source for global bank financials used by most international organisations in their assessments of banks.
Tier-1 Capital describes capital adequacy, the core measure of a bank’s financial strength from a regulator’s perspective. According to the ranking, Tier-1 Capital, as defined by the latest Bank for International Settlements (BIS) guidelines, includes loss-absorbing capital, i.e., common stock, disclosed reserves, retained earnings, and minority interests in the equity of subsidiaries that are less than wholly owned. A strong Tier-1 capital ratio boosts investor and depositor confidence, indicating the Bank is well-capitalised and financially stable.
Commenting on this achievement, the Group Managing Director/CEO of Zenith Bank Plc, Dame (Dr.) Adaora Umeoji, OON, said, “We are deeply honoured to be recognised as the Number One Bank in Nigeria by Tier-1 Capital for the fifteenth consecutive year. This recognition is a testament to our strategic focus on sustainable growth, innovation, and customer satisfaction. It also emphasises our resilience and strength in navigating the ever-evolving financial landscape. Our dedicated team of professionals has remained steadfast in ensuring that we maintain our position at the forefront of the banking industry.” She extended her profound and sincere appreciation to the Founder and Chairman, Dr. Jim Ovia, CFR, whose visionary and transformative leadership has played a pivotal role in cultivating a resilient and thriving establishment. She also expressed her deep appreciation for the board’s insightful governance, the staff’s relentless dedication, and the unwavering loyalty of the bank’s esteemed customers to the Zenith brand.
Zenith Bank’s financial performance for the year was driven by a remarkable triple-digit growth of 125% in gross earnings, from N945.6 billion reported in 2022 to N2.132 trillion in 2023. This growth led to an improved market share in both the retail and corporate segments despite a persistently challenging macroeconomic environment. The increase in gross earnings was primarily due to growth in interest and non-interest income. Interest income growth was attributed to the increase in the size of risk assets and their effective repricing, while non-interest income was driven by significant trading gains and gains from the revaluation of foreign currencies.
Zenith Bank recently commenced recapitalisation efforts with the conclusion of its Capital Markets Day held on 11th July 2024. It aims to raise the least amount of capital amongst its peers at N230 billion, considering it already maintains a robust capital base of N270.7 billion. The Bank remains dedicated to supporting the growth of the Nigerian economy and providing its numerous customers with innovative and efficient banking solutions.
Zenith Bank’s track record of excellent performance has continued to earn the brand numerous awards, with these latest accolades coming on the heels of several recognitions. These include being recognised as the Number One Bank in Nigeria by Tier-1 Capital for the fourteenth consecutive year in the 2023 Top 1000 World Banks Ranking, published by The Banker Magazine. The Bank was also awarded the Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards for 2020 and 2022; and Most Sustainable Bank, Nigeria in the International Banker 2024 Banking Awards.
Further recognitions include Best Bank in Nigeria for three consecutive years from 2020 to 2022 in the Global Finance World’s Best Banks Awards and Best Commercial Bank, Nigeria for three consecutive years from 2021 to 2023 in the World Finance Banking Awards. Additionally, Zenith Bank has been acknowledged as the Best Corporate Governance Bank, Nigeria, in the World Finance Corporate Governance Awards for 2022 and 2023, and ‘Best in Corporate Governance’ Financial Services’ Africa for four consecutive years from 2020 to 2023 by the Ethical Boardroom.
The Bank’s commitment to excellence saw it being named the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands for 2020 and 2021, and Retail Bank of the Year for three consecutive years from 2020 to 2022 at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards. The Bank also received the accolades of Most Sustainable Bank, Nigeria, in the International Banker 2023 Banking Awards, Best Commercial Bank, Nigeria and Best Innovation in Retail Banking, Nigeria, in the International Banker 2022 Banking Awards. Zenith Bank was named Bank of the Decade (People’s Choice) at the ThisDay Awards 2020, Bank of the Year 2021 by Champion Newspaper, Bank of the Year 2022 by New Telegraph Newspaper, and Most Responsible Organisation in Africa 2021 by SERAS Awards.
