A group identified as ‘JUSTICE FOR TUNDE THOMAS’ group has launched a petition on change.org calling on the Central Bank of Nigeria (CBN) to sanction the managing director of First City Monument Bank (FCMB), Adam Nuru over what they described as indecent behaviour.
The group allege that the banker is responsible for the breakdown of Tunde Thomas’ marriage which eventually led to Tunde’s death a few days ago.
The story as posted on the website read, “Tunde Thomas died recently like about a week or two ago from depression. Apparently, kids from his marriage to Moyo Thomas belongs to his wife’s boss, Adam Nuru, the current MD of FCMB, with whom she was having an affair with.
Tunde and Ex-Wife Moyo
“Moyo Thomas left Tunde to go to America with the kids. When she got to America, she told him the children were not his. The shock of this revelation caused Tunde to suffer from stroke which he later recovered from,” the group said.
Continuing, the group said, “This is a case of gross misconduct based on ethical grounds and an unjustifiable economic oppression by the elites (Adam Nuru) against the less privileged in the society.
“The FCMB MD has been doing everything possible to sweep this case under the carpet. We implore the Central Bank of Nigeria as the apex regulator and the board of FCMB to investigate this for the integrity of the bank and Nigerian banking industry.
“This is a case too many. While this is not the full story, the minimum will be an investigation into this unethical conduct by the current MD of FCMB Bank Adam Nuru”
Close sources say Tunde eventually met someone else he was going to remarry but apparently didn’t recover from the issues surrounding his first marriage issues. So just about a week ago, after Tunde had just been made director for the MFB he works for, he got back from work and had cardiac arrest just two days to the introduction ceremony of his pregnant girlfriend.
Civil Society Groups have exonerated security agencies over insecurity even as the leadership call on President Buhari to sack Ministers, NSA and National Assembly Leadership. In this communiqué signed by Dr. Nwambu Gabriel, the Coalition emphasized that none of the heads of security including the Inspector General of Police and other military heads are the cause of insecurity bedeviling Nigeria
A coalition of 92 Youth Based Groups and Non Governmental Organizations under the auspices of Centre for Credible Leadership & Citizens Awareness has called on President Buhari to immediately sack all the current serving Ministers and replace them with his choice of younger, patriotic and competent citizens who are desirous to patriotically contribute their quota to nation building.
While addressing the media in Abuja on Tuesday 29th December, 2020, Dr. Nwambu Gabriel who spoke on behalf of the coalition said that Ministers are relaxing in Abuja dwelling on lofty ideas without being in touch with their constituents or at least create an avenue for regular engagement like periodic town hall meetings with their constituents where the genuine efforts of President Buhari would be made known to Nigerians on a one-on-one grass roots level.
The coalition also called on the Senate President, Senator Ahmed Lawan to immediately change the Principal Officers of the 9th Senate for a more result oriented legislations that would in turn impact positively on the yearnings and aspirations of all if not majority of Nigerians.
“The same call goes to the Speaker of the House of Representatives, Femi Gbajabiamila. We urge him to immediately relieve the current serving principal officers/leaders of the House and appoint more competent, God fearing representatives for effective, more impactful and result oriented legislations for peace, security and development of our country in line with the desire and tangible efforts of President Muhammadu Buhari, Dr. Nwambu Gabriel said.
Excerpt is the full text of the press briefing: We the above named Organization in collaboration with 92 youth based groups and Non Governmental Organizations (NGOs), having concluded a One Day Summit titled “Origin and Root Causes of Insecurity In Nigeria; The Way Forward”, resolves as follows to be solutions and panacea to mitigating and solving the myriad of insecurity situation in Nigeria.
The Boko Haram sect emanated from the sponsorship and funding of Nigerian Politicians from the North East region of the country for their own selfish ambition. This sect is now hydra- headed and has given birth to prolong local and international terrorism, banditry, marauders, rapists, killer headsmen, cattle rustling, kidnapping, etc., with its attendant heinous crimes such as gruesome murder, rape, and the general atmosphere of insecurity in Nigeria.
In the same vein, the Niger Delta militancy which has also bedeviled the nation with serious security challenges and the attendant availability of small and light arms within the region with its attendant consequences was also originally formed by politicians within the region for their own selfish political and economic interests.
Therefore, it is clearly evident that Politicians in Nigeria are the founders, root causes, financiers and pre- cursors of insecurity in Nigeria.
Accordingly, the Dishonourable Ministers are here in Abuja dwelling on lofty ideas without being in touch with their constituents or at least create an avenue for regular engagement like periodic town- hall meetings with their constituents where the genuine efforts of President Mohammadu Buhari would be made known to Nigerians on a one-on-one grass roots level. No doubt, President Buhari has done a lot in the areas of fighting corruption, agricultural transformation, railways, road networks and fighting terrorism and insecurity in Nigeria.
However, Ministers essentially are to act as deputies to the President and Commander- in- Chief by projecting the efforts of Mr President. But in Nigeria today, it is ironical that either most Ministers of the Federal Republic lack clear understanding of their functions or are completely ignorant of what to do while in office.
We discovered that there is a lacuna. This gap is caused by the ineptitude and look- worm of the said so called honourable Ministers. While Mr. President is busy toiling day and night without the commensurate support from almost all the Ministers and other political appointees including the SGF.
The inability of the NSA to effectively coordinate the security architecture of the country exposes a major weakness signifying the need for an urgent replacement of the sensitive position.
Some of these politicians and ex- Governors have now found the Senate of the Federal Republic as a shelter and resting place where they sit with practically nothing to contribute during plenary but rather indulge in unnecessary selfish political scheming, maneuvers and trading blames, heaping accusations on Mr President, and his security heads including the IGP and military chiefs.
Consequent to the above, for the peace, security and development of our country, we, as Nigerians and as a coalition, hereby, with utmost respect to President Buhari, urge the President and Commander- In- Chief to immediately sack all the current serving Ministers of the Federal Republic of Nigeria and replace them with his choice of younger, patriotic and competent citizens who are desirous to patriotically contribute their quota to nation building.
Again, we have also discovered the huge disconnect between members of the National Assembly and their so- called constituents. In the Senate, most of the principal officers dwell more on diversionary issues rather than embark on result oriented legislations targeting job creation for the youths and for peace, security and prosperity for Nigeria. If we may ask; how many times do some of these so called principal officers visit their constituents? Some only visit their constituents during elections times.
We, therefore, hereby, call on the Senate President, Senator Ahmed Lawan to immediately change the principal officers of the 9th Senate for a more result oriented legislations that would in turn impact positively on the yearnings and aspirations of all if not majority of Nigerians.
The same call goes to the Speaker of the House of Representatives, Femi Gbajabiamila. We urge him to immediately relieve the current serving principal officers/leaders of the House and appoint more competent, God fearing representatives for effective, more impactful and result oriented legislations for peace, security and development of our country in line with the desire and tangible efforts of President Muhammadu Buhari.
We also state categorically that none of the heads of security including the Inspector General of Police and other military heads are the cause of insecurity bedeviling Nigeria. The security, economic and political problems of our country are clearly caused by the so called political leaders which are the politicians especially those that have looted their states and now find a safe haven in the senate.
Let it be on record that in all fair minded judgement and assessment, Nigeria as a Nation, is very fortunate to have the current security chiefs at this trying moment of our country’s existence. With their experience, patriotism and commitment to duty, the nation is indeed lucky to have these officers at the helm of affairs irrespective of whatever anybody says.
Consequently, on the basis of our country’s corporate existence, peace and security, we, as a coalition, hereby soundly pass a vote of Confidence on the Heads of Security in Nigeria particularly the IGP and all the military chiefs for performing creditably well so far in the discharge of the onerous tasks of containing the myriad of security challenges confronting Nigeria.
The General Overseer and Founder of Rhema Deliverance Mission, Bishop Arthur Nwachukwu is dead. He was aged 79, throwing the entire Christian community, especially his ministry and the people of Anambra State into mourning.
The well revered Bishop died at the early hours of Monday 28th December, 2020 after a brief illness, according to information from his family.
He is the father of popular Lagos Prophet, Anene Nwachukwu who oversees Rhema Deliverance Mission, South West, while his elder brother, Prophet Chidozie oversees Abuja and northern wing of the fast growing ministry.
Bishop Arthur Nwachukwu lived a very fulfilled Christian life that affected all that came in contact with him positively.
The General Overseer who until his death presided over the ministry from his Umunya, Anambra State Headquarter of the church is survived by his wife and five sons who are prophets in different branches of the church
Nigeria’s talented music sensation, Umughare Aghogho Prosper popularly known as Holmes, who is fast establishing himself as one of the great artistes on the continent with his Afro-fusion genre of pleasant sound has continued to break fallow grounds in the entertainment industry, despite the challenges that hit the year 2020.
No stage performances, no gigs, no concerts, no doubt, the year 2020 came with a lot of hits for many people from various walks of life all around the world and, Nigeria’s entertainers are not left out from the heat of the covid-19 pandemic, #EndSARS protests, and the likes, but for Holmes, the heat became his ‘hits’ as this has affected his career in a positive way.
The talented singer’s focus and dedication to his music career saw him hit eight singles in a pandemic year, boasting of high profile collaborations with Ycee, Yung6ix, and multiple award-winning mega-superstar, Davido, and DJ Neptune, meanwhile, and he is nowhere near slowing down on dishing out his best in terms of good music and entertaining his millions of fans across the continent. His hard work has seen him deliver hit singles that are ruling the airwaves; Magician, Break It In January, Love, Sade, Finally, and several others.
A Native of Delta State, Warri, Holmes’ growing and amazing success story cannot be distant from the massive support from his record label, Addictive Music Worldwide and D’Luxe Management under the supervision of Franklin Amudo whose wealth of experience is contributing amazingly to Holmes’ transcendence into the top rank of Afrobeat musicians, not just in Nigerian, but Africa.
He is not just unique in his work rate, but also in his sound that stands him out among many, creating his own unique flavour of Afropop music. According to him, his music is mostly inspired by life generally with its challenges, especially drawing from the numerous number peculiar to Nigerians and then, ladies who would find several attractions in his music.
Holmes’ latest single, which featured one of the greatest DJs in Africa, DJ Neptune has been attracting massive positive reviews. The Amanpiano-inspired song which was released in November, on top digital platforms like iTunes and Boomplay, has been creating melodious fever and has continued to receive positive vibes from industry heads and fans. Finally was produced by P Loops and the video, filmed in a choice reserved factory in South Africa was shot by the Shelf director, Sesan Ogunro
The 28-year-old singer’s music career has continued to skyrocket since his debut single, “Magician” produced by Kel P, followed by his hit single and then the much talked about collaboration with the DMW records honcho himself, Davido, “Love” released early in the year.
If his past and present are anything to go by, Holmes is already stepping into 2021 on a very high note as his popularity and fame continue to grow immensely.
An eyewitness of a fight between Nigerian music superstars, Davido and Burna Boy, at a Ghanaian club on Monday, has said bouncers at the club ejected Burna Boy who stormed the club with six hefty men.
Earlier today, the news went round that there was a fight between Nigerian superstars, Davido and Burna Boy at a club, Twist Club and Lounge, in Ghana. In several videos that have since gone viral, Wizkid was also seen at the club drinking from a bottle seemingly unbothered by the rancour.
In an exclusive interview with The PUNCH, Steven Mingle, who is responsible for posting most of the videos about the brawl, said he was at Twist Club and Lounge, the venue where the fight occurred.
Mingle had posted clips of the fight on his Instagram handle, Ghhyper1.
He explained, “Davido was having fun with his guys; I was also there beside him taking some shots. The place got choked, so, I had to excuse myself and stayed by the door to get some fresh air.
“When I was standing by the door, I saw Burna Boy and at least six guys following him. One is a popular guy who spends in the club and the others are the muscular guys.
“When Burna Boy entered, he did not come to chill there because he just came to attack Davido. He just went straight to Davido.
“The club’s bouncers had approached them to ask where they were going but when he showed his face as Burna Boy, they allowed him.
“Davido spotted him and his look showed that he was wondering why he (Burna Boy) was coming to his table but he stood his ground. Just like boxing face-off, the next thing blows started flying; the girls and people inside Twist Lounge had to run; I also ran.”
The eyewitness further claimed that the security officers of the club immediately asked Burna Boy to leave the premises.
“The Twist bouncers forced Burna Boy and his guys out of the premises. Even when they were going, Burna Boy hit the club gate. Davido had to wait for about one hour thirty minutes before he moved out because of security reasons.”
Mingle further told The PUNCH that he has been with Davido and his crew since they landed in Ghana on Sunday to celebrate the song Davido and ace Ghanaian artiste, Stonebwoy, recorded together ― Activate.
When The PUNCH reached out to Burna Boy’s Public Relations team, it simply said, “Unfortunately we have not gotten any information yet because we are in Lagos and they are in Ghana. We have not spoken to anybody, so, we cannot really give any information on what transpired.”
R-L: Fela Ibidapo, Divisional Head, Corporate Communications, Heritage Bank; Kyari Bukar, Lead Judge of The Next Titan; Lilian Olubi, Judge; Joshua Idiong, Winner, The Next Titan Season-7; Tonye Chris Parkes; Mide Kunle Akinlaja, Executive Producer, The Next Titan and Cole, Judge, Judge, Titan, during the presentation of N10million prize at the grand finale of The Next Titan Entrepreneurial Reality TV show Season-7, headline sponsored by Heritage Bank Plc, held in Lagos recently.
Heritage Bank Plc, Nigeria’s Most Innovative Banking Service provider, in its continued bid to support Micro, Small and Medium Enterprises (MSMEs), has again empowered the winner of The Next Titan Season-7 with whooping sum of N10million.
An entrepreneur, Joshua Joseph Idiong who is the CEO of Josult Oil Processing Company, a palm oil processing company in Akwa Ibom State emerged the winner of the Next Titan Season-7, themed: The Unstoppable.”
The graduate of Federal University of Technology Owerri with Bachelor Degree in Environmental Science emerged winner after competing with Ifeanyi Nkwonta, Chidinma Eriobu and Ifeoma Benjamin at the grand finale in Lagos.
Idiong’s entry on the show was amongst the 18, 000 entries, followed by online auditions before the top 16 moved into the Titan House for 10weeks to compete against top notch young entrepreneurs in real-life entrepreneurial tasks.
The programme paneled by technocrats with perfect blend of entrepreneurial requisite skills trained each participant on enriching, rigorous and intellectually learning journey to equip them with the fundamental competencies required of seasoned entrepreneurs.
The frontline Panel of Judges from different spectrum of entrepreneurial fields were Kyari Bukar Co-Founder/CEO Trans-Sahara Investment; Lilian Olubi, CEO, Primera Africa Securities Ltd; Chris Parkes, Chairman/CEO, CPMS Africa and Tonye Cole, Co-Founder, Sahara Group.
The winner, who highly commended the headline sponsor-Heritage Bank Plc for its continued supports to entrepreneurs and sponsorship of the Next Titan, said, “Heritage Bank is an amazing bank that has stood strong on this show. My love for Heritage Bank stems from the fact that this is my second time on this show but before I came in, I have learnt so much from the show.
“This means that Heritage Bank is truly affecting the lives and businesses of entrepreneurs positively, alongside the viewers. This is a bank that has differentiated itself from other banks in boosting the strength of SMES in Nigeria.”
Speaking at the grand finale, MD/CEO of the Bank, Ifie Sekibo stated that the programme easily aligns with the primary focus of the management of Heritage Bank to promote every laudable entrepreneurial idea meant to broaden economic horizon of the country for the benefit of citizens and other residents of Nigeria.
L-R: Fela Ibidapo, Divisional Head, Corporate Communications, Heritage Bank; Joshua Idiong, Winner, The Next Titan Season-7 and Mide Kunle Akinlaja, Executive Producer, The Next Titan presenting the 10million prize to the winner, at the grand finale of The Next Titan Entrepreneurial Reality TV show Season-7, headline sponsored by Heritage Bank Plc, held in Lagos recently
Sekibo who was represented by the Divisional Head, Corporate Communications, Fela Ibidapo further affirmed, “as a catalytic institution in the empowering of entrepreneurs in the micro, small and medium enterprises (MSME) sector, Heritage Bank has continued to make relentless efforts in this space to empower entrepreneurs in Nigeria through championing several empowerment schemes like the HB Innovation Lab Accelerator programme (HB-LAB), Ynspyre Account, Youth Innovative Entrepreneurship Development Programme (YIEDP), Centre for Values in Leadership (CVL) on Young Entrepreneurship Business Training Programme (YEBTP), Young Entrepreneurs and Students (YES) Grant and Nigerian Youth Professional Forum (NYPF), Big Brother Nigeria, Lagos Comic Con, amongst others.”
The Executive Producer of the entrepreneurial Reality Show, Mr. Mide Kunle-Akinlaja in his address explained that the project was created and designed as a deliberate attempt to provoke the spirit of entrepreneurship of young Nigerians, not only the contestants on the show, but other multitude of aspiring entrepreneurs who can watch the show on TV.
He said that the Season-7 was designed to search for business ideas that are immune to any pandemic, innovations that break boundaries and technologies that can survive any lockdown.
“It does not matter what your business idea is all about or its focus, but you must be able to prove that your business has what it takes in terms of ideas or technologies to survive any future pandemic or lockdown,” the Next Titan Producer stated.
First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider has announced its ongoing digital campaign “Mask Up, Stay Safe” as part of its advocacy to encourage everyone to consciously protect one another against the COVID-19 pandemic.
The digital campaign which is designed to employ a fun approach to urge and engage its stakeholders on the need to observe the safety and precautionary guidelines during the festive season is implemented using the Bank’s customised face mask filter on instagram, that is made of the bespoke FirstBank 125th Anniversary pattern in Ankara fabric giving a distinct African contemporary an consistent look.
The “Mask Up, Stay Safe” digital campaign is part of the FirstBank’s December activities which kicked off on the 7th December 2020 themed: “12 Days of Christmas and 12 Days of Kindness”.
The activities are structured in part to increase public awareness and participation in the Bank’s SPARK (Start Performing Act of Random Kindness) initiative with the central goal of reigniting the societal moral values by encouraging people to choose to do the right thing and reinforcing a consciousness/mindset of showing compassion, empathy; as well as giving to others aimed at inspiring people to make a difference.
Speaking on the campaign, Dr. Adesola Adeduntan, the CEO of FirstBank said “In the spirit of walking the talk, I have uploaded my Instagram story with the virtual face mask and I crave your indulgence to join me in doing the same.”
“This campaign is targeted at informing our customers and the general public that staying safe and protected through face mask wearing is paramount now, more than ever, as it is a way of mitigating the unforeseen tragedy of the second wave of the COVID-19 Pandemic. Stay Safe First!” he concluded.
As the year comes to an end, Lieutenant General Tukur Buratai, Chief of Army Staff has met the executive Governor of Yobe Mai Mala Buni, on Wednesday, December 23, on a strategic engagement in securing Yobe State during and after yuletide.
Briefing the governor, General Buratai explained some of the military strategic efforts deployed at curtailing the activities of criminals and insurgents in Yobe State and other parts of north eastern Nigeria.
National Association of Online Security Reporters, NAOSRE, gathered that during the meeting which held at the Damaturu Government House, General Buratai specifically assured the governor of drastic security measures embarked upon by the Nigerian Army in the North East
The Chief of Army Staff further assured the government and people of Yobe State that the Nigerian Army is taking drastic steps to ensure that Damaturu-Maiduguri roads are secured to safeguard lives and properties of the people.
He stated that the army in partnership with other relevant stakeholders will have strategic engagements in the next few weeks to further improve security in the zone particularly in identified flash points.
Responding Governor Buni commended the Nigerian army and other agencies for their concerted efforts and commitment in the fight against insurgency and banditry across the nation. He assured the continuous support of the state government in the fight against all forms of insecurity across the state.
He attributed the relative peace been enjoyed in the state and the region to the commitment of the Nigerian Army and other security agencies.
I would like to thank the Institute of Directors Nigeria for deeming it fit to admit me as a Fellow of this esteemed institution. It is indeed a great honour.
I remember when I was invited last year as a special guest of honour during the 2019 IOD Dinner; I announced that BUA Cement was preparing to list on the NSE. Since you all began this journey with me, please allow me to report back that BUA Cement listed afterwards and is now one of the most capitalized companies on the Nigerian Stock Exchange.
With a market capitalization of 1.9trillion Naira, EBITDA of N82bn and PAT of N60bn Naira as at FY2019, we are on course to hit EBITDA of 100billion Naira by the end of 2020 despite the dire conditions brought about by the COVID-19 pandemic this year.
Our outcomes are very significant because BUA Cement is a manufacturing and mining outfit and is currently one of the most profitable manufacturing entities on the Nigerian Stock Exchange. Our successes are exceptional because in mining, you are expected to add a lot more value compared to many other industries due to the use of locally sourced raw materials in your operations. Regardless of the hurdles posed by this global pandemic, we continued to create jobs and sustainable wealth for our workers, investors and by extension, our customers.
I must add that with the presence of resources needed across the country, we have been able to stabilize prices irrespective of where anybody lives in Nigeria and as a result, the price of cement in Lagos is similar or the same as the price of cement in Maiduguri, Yenagoa, Sokoto or Onitsha. In addition to this, only 5% of our revenues are used for imports in FX; this has freed up necessary funds to pursue further expansion and development across our brand portfolio, particularly in the field of innovative manufacturing.
The cement industry in Nigeria is currently producing about 28 million metric tonnes of cement per annum, which translates to about 120kg per head in terms of consumption per capita. This is lower than consumption per head in the rest of Africa. Based on this, it is very clear that we are not even producing enough cement. Where others see low consumption figures, I see opportunity; it means Nigeria and the surrounding region is still home to huge opportunities in housing, infrastructure, and allied industries.
Demand and consumption currently outstrips supply; our population is increasing, logistics remains a huge challenge, coupled with reduced production amongst some players. This is why the price of cement in the market is currently about 20% higher than the price of cement ex-factory. Plants are aging and BUA is one of the few that have new plants. We have therefore taken it upon ourselves to tangibly bridge the demand gap by 2022. The potentials exist because ideally, Nigeria should be producing at least 300kg per head or about 60million metric tonnes per annum – which is double our current production capacity.
Imagine with me for a second, if we were still importing cement. The cost of logistics alone would have made the price of cement out of the reach of many – especially those in far-flung states. As I said earlier, and many of us have experienced, the retail price of cement is currently high. However, at about $120/ton ex-factory this is still lower than the price of cement per ton in many African countries. This equally means the market is big enough for new investments and unless we all come out to face these challenges as leaders, development will be difficult to achieve.
In view of these challenges, I am happy to announce that our 3rd cement line of 3mmt per annum in Sokoto is expected to be commissioned in the middle of 2021, and I am also pleased to inform you that we are commencing the construction of 3 more cement plants of 3 million tonnes each in Sokoto, Edo and Adamawa at the cost of $1.050billion which should be completed by the end of 2022. The contract signing is expected to happen this week.
However, I am also of the strong belief that it is not only in Cement that these large-scale projects are possible. Nigeria hosts other huge mineral deposits waiting for us to add value, to extract maximum benefits. Iron Ore is one of them.
Our country is one of only 11 countries in the world that is sitting on iron ore, coal and even gas and yet, we appear to be the only ones yet to take full advantage. It is estimated that we spend about 3 billion dollars a year importing steel, which we can produce locally using our resources thereby saving billions of dollars in foreign exchange every year.
In fact, if we can have a two-million-tonne, fully integrated steel plant at the cost of about 2 billion dollars, we will be saving about 2 billion dollars every year. By fully integrated, I mean processing from Iron ore to Beneficiation, Pelletizing, DR Plant, SMS, Steel, Long products, sheets, angles – all aspects of the value chain. If we even decide to undertake beneficiation alone, this would be more lucrative than processed limestone, which is the raw material for cement. I daresay if we are able to take full advantage of this – then we can firmly place our sector and country on the road to sustainable development.
As business leaders, we are not exploring and exploiting these opportunities enough and the few of us who are doing it, definitely cannot do it alone. I say this because there are huge opportunities in mining, manufacturing, and the agricultural value chain – just as there are in the services space. Agriculture is a prime area in need of serious intervention, and we need more Nigerians to step up here.
Do you know that, 60% of the world’s arable land resides in Africa? And as is often said, “if potential were edible, Africa will be the best fed continent in the world.” The same applies here to Nigeria. I flew last week from Lagos to Sokoto and could see the fertile plains from Kwara, Niger, all the way to Sokoto, waiting for us to take advantage of. How long will we continue to rely on importing food? Our continued inability to grow what we eat exposes us to various shocks, the most debilitating being the 2020 pandemic. This is one of the reasons why at BUA we are renewing our focus on the agriculture and foods space.
Just like I said last year for cement, BUA is also looking to combine our foods businesses – from sugar, flour, pasta to list as BUA FOODS on the NSE by the end of 2021. In sugar, we have our integrated plantation in Kwara State set to produce 200,000tonnes of refined sugar, 20million litres of ethanol annually and 35MW of power – all utilizing the by-products of cane sugar. We also have a refinery in Lagos and Port Harcourt. In flour and pasta, we have also started looking at backward integration for Nigerian-grown wheat to reduce our dependence on imported wheat and revive production in the sector. Nigeria currently imports over 5million tonnes of wheat and this places a huge strain on our scarce FX as a country.
The opportunities in the agriculture and agribusiness space are endless. How are we as leaders looking to take advantage of this space? How can we work together, and what examples – or opportunities are on the horizon?
In terms of our plans, we recently announced that BUA will be building a Refinery and Petrochemicals complex. Why? Because we saw an opportunity even though there is another big project in that space, coming on stream. Local consumption is quite huge and estimated at 800,000barrels per day. This is in addition to the huge regional market that exists for petroleum products. Alongside the refinery, we are building a polypropylene plant, which will answer the demand for polypropylene in the region. It is common knowledge that about a third of our country’s FX earnings go towards the importation of petrol and petroleum products. More strange is the fact that the cost of logistics for transporting these products to Nigeria could instead be deployed to significantly revamp the refining space and therefore, at BUA, we couldn’t just sit back – we knew we had to take action and I am certain we have made the right call yet again.
On a final note, I want to say again that we NEED MORE PEOPLE TO COME AND INVEST in various sectors of the Nigerian economy. We have the Climate, People, Land, Water, Mineral Resources – we have almost everything. The final piece is we must begin to produce what we consume and consume what we produce. Where we cannot do either, we must become a regional powerhouse in value-addition – if not for anything, but to take advantage of the benefits of the AfCFTA. The African Continental Free Trade Area presents a massive opportunity for us as a country and unless we take full advantage, we may become a dumping ground due to Nigeria’s unique position of being Africa’s largest economy, and our huge population. We must begin to look at a cross-pollination of our industries amid economic integration and finally, as Nigerian business leaders, we need to be less shy and more bullish in taking advantage of opportunities. This is my charge to us all, and I humbly expect to cheer on, and learn from your successes in the coming financial year.
Rabiu, Founder & Chairman of BUA Group, delivered this speech last Sunday when he was admitted as a Fellow of the Institute of Directors (Nigeria)
Robert Lewandowski became the third player in Bundesliga history to score 250 goals as Bayern Munich ended Wolfsburg’s unbeaten start to the Bundesliga season in a come-from-behind win at the Allianz Arena.
denied a close-range effort at goal by Jerome Roussillon. The record champions remained on top in terms of possession throughout the first half, but trailed for much of it after Maximillian Philipp met Kevin Mbabu’s cross on the volley to give Wolfsburg a sixth-minute lead. Thomas Müller flicked a near-post header off target with Bayern’s first meaningful response, before Wout Weghorst had a thunderous breakaway goal ruled out for offside. Wolfsburg put bodies on the line to repel quick-fire chances for Lewandowski and Serge Gnabry, but continued to threaten on the counter with another Philipp volley sailing narrowly wide off David Alaba’s left thigh. Sane ballooned over from 18 yards, before Lewandowski met Kingsley Coman’s inch-perfect cross to head Bayern level in added time.
After restoring parity with the final effort on goal of the first half, Bayern forged ahead with the first attempt of the second. Jerome Boateng picked off a Wolfsburg attack and immediately sent Lewandowski in on goal. The Bundesliga’s record foreign scorer put Maxence Lacroix on his back, before slamming in at Koen Casteels’ near post. Gnabry was presented with a glorious opening to extend the home side’s lead moments later, but failed to make the desired connection with Coman’s back-post cross. Wolfsburg contained Bayern for the remainder, but only threatened a way back in the closing stages. Had it not been for Manuel Neuer, they might have succeeded. The Bayern captain twice thwarted substitute Bartosz Bialek to keep his side within a point of leaders Bayer Leverkusen, who they face in their final league encounter of 2020 at the weekend.
Match stats
Only Gerd Müller and Klaus Fischer had broken the 250-goal barrier, before Lewandowski came along. The Pole has 177 goals in 201 Bundesliga appearances for Bayern.
Boateng produced his first assist of the season.
Lewandowski has scored 23 goals in 20 Bundesliga appearances against Wolfsburg. Unsurprisingly, they are his favourite opponent.
Bayern have scored at least once in each of their last 42 competitive matches.
Philipp scored his first Bundesliga goal in over two years.
Josip Brekalo made his 100th competitive appearance for Wolfsburg.
Leverkusen – Bayern’s opponents on Matchday 13 – are the Bundesliga’s only remaining unbeaten team this season.
