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Keyamo names new directors for aviation agencies

Tosin Ranks
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Keyamo names new directors for aviation agencies

The Minister of Aviation, Festus Keyamo, has announced the appointment of new directors across various aviation agencies, as revealed in a press release by Odutayo Oluseyi, the head of press at the Federal Ministry of Aviation.

The appointed directors, along with their respective offices in agencies such as the Nigerian Meteorological Agency, Nigeria Civil Aviation Authority, Nigerian Airspace Management Agency, Nigerian Safety Investigation Bureau, and Federal Airports Authority of Nigeria, are listed.

The statement emphasizes that the appointments are effective immediately, and newly appointed directors are instructed to collect their letters of appointment from the Ministry of Aviation’s Human Resource Department.

Additionally, a new directorate named Cargo Services has been established at the Federal Airport Authority of Nigeria to address sector-related challenges.

This development follows the recent removal of all aviation agency heads and directors by the Federal Government less than a week ago.

Artistic Photography: Ademola Olaniran, Capturing Lagos’s Cultural Essence on the Global Stage

Ranks-Staff
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Artistic Photography: Ademola Olaniran, Capturing Lagos’s Cultural Essence on the Global Stage

In the realm of visual storytelling, Ademola Olaniran wields his camera not merely as a device but as an extension of his artistic vision. His role as the Senior Special Assistant Media and Visual Communications to the Governor of Lagos showcases a profound ability to encapsulate fleeting moments in a vibrant tapestry, elevating them to an ode of the times observed—a treasure trove far richer than a mere thousand words.

Ademola Olaniran X Governor Babajide Sanwoolu

Olaniran stands as a luminary of photographic impressionism, uniquely adept at seizing the vivacious essence of human spirit through his lens. Embracing the camera as a tool for interpreting life’s beauty and joy, he transforms ordinary moments into breathtaking works of art, utilizing diverse techniques that distinguish his craft.

His recent exhibit at the London Mayor’s Show spotlighted a captivating photograph of the Eyo Masquerades in a mesmerizing gyration—a portrayal extending beyond cultural significance. This masterful creation transcends the realms of language, etching a mystical imprint on the soul, provoking introspection and stirring profound conversations.

The frozen dance of the Eyo Masquerades within Olaniran’s frame transports the observer to the 17th-century origins of the Eyo Festival in Lagos, Nigeria. An era marked by costumed dancers embodying ancestral spirits, orchestrating ritualistic dances to coronate new kings or honor esteemed guests.

For Olaniran, the artistry in photography is a deliberate composition, a convergence of time, life, and artistic expression before the camera shutter releases. It’s a careful orchestration, seizing unguarded moments through elements of positioning, color, light, and form—an art that surpasses verbal descriptions.

In articulating his artistic pursuit, Olaniran remarks, “Every image I capture is an intentional creation rich with narrative. Fine art photography ignites conceptual ideas, sparking discussions on diverse topics.”

The acclaim garnered by Olaniran’s photograph, acknowledged by Governor Babajide Sanwo-Olu of Lagos and Lord Mayor Michael Mainelli of London, transcends cultural depiction. It crystallizes Lagos’s enigmatic, dynamic beauty, positioning the city in global dialogues about Africa’s role in the 21st century. It’s a testament to identity, resilience, and the transformative potency of culture embodied by Lagos—a narrative pivotal in reshaping global perspectives and spotlighting Nigeria and Africa’s advancements, a legacy championed by cities like Lagos.

Roddy Rich’s Candid Experience Amidst Burna Boy’s Lavish Lifestyle

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Roddy Rich’s Candid Experience Amidst Burna Boy’s Lavish Lifestyle

“Today marked a turning point for me; I felt financially inadequate for the first time. Witnessing his fleet of cars, extravagant jewelry, luxurious abode, and the money casually spent around, I couldn’t help but feel overwhelmed.” These sentiments from Roddy Rich echoed his awe in a recent encounter with Burna Boy, a moment where opulence seemingly overshadowed the norm.

 

Flying News reported a staggering 80-million-naira splurge by Burna Boy and Roddy Rich during a recent club outing. The night unfolded amidst a backdrop of lavishness, touring the town in Burna Boy’s collection of high-end cars. For Roddy Rich, accustomed to his own success, it was an eye-opening experience—a rare instance where his wealth felt dwarfed in comparison.

 

The truth remains: Burna Boy is no stranger to prosperity. His consistent stream of success over the past three years speaks volumes. Financial concerns don’t seem to burden him as he continues to bask in his affluent lifestyle.

 

In the realm of wealth in Nigeria, Burna Boy’s narrative merely scratches the surface. Mentioning the likes of Big Wiz or Davido in this fiscal league further emphasizes the sheer opulence within the country’s music industry.

 

The encounter with Burna Boy wasn’t just an extravagant night out—it was a stark reminder of the staggering wealth nestled within the Nigerian music scene. A glimpse into a world where luxury isn’t just a statement but a lifestyle.

 

Written by Adesina Kasali

74 customers receive rewards from UBA

Tosin Ranks
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74 customers receive rewards from UBA

In adherence to its customary practice of acknowledging loyalty, particularly during the festive season, Africa’s Global Bank, United Bank for Africa Plc, distributed over N36m in cash prizes in the recently concluded UBA Super Savers Draws.

The recipients were unveiled through a transparent draw at the Tony Elumelu Amphitheatre, UBA House, witnessed by the press, representatives of the Federal Consumer Protection Council, and the National Lottery Regulatory Commission.

The biggest winner, Fabian Matthew Okon, secured the N10m jackpot, while Abiodun Joseph Aduramigba claimed the N5m top prize, and Kahalla Mohammed received the N1.8m rent for a year.

Additionally, 10 account holders won N1m each, a bumper account holder received a N500k shopping voucher, and 15 Kidddies and Teens account holders were rewarded.

Other winners across various categories received amounts ranging from N200,000 to N100,000. Prince Ayewoh, UBA’s Head of Retail Banking, congratulated the 74 winners and encouraged continued saving for a chance to win in future editions.

He revealed plans for new ventures and initiatives in 2024 to enhance customer experience, promising innovative products and improved services tailored to evolving needs, especially for senior citizens.

United Bank for Africa Plc, a leading Pan-African financial institution, serves over 25 million customers across 20 African countries and has a global presence in New York, London, Paris, and Dubai, connecting people and businesses through a range of banking services.

Baobab+ secures a $2.25 million solar investment, powering up all systems

Tosin Ranks
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0
Baobab+ secures a $2.25 million solar investment, powering up all systems

All On, a prominent Nigerian impact investment firm, has entered into a $2.25 million credit facility agreement with Baobab Plus Nigeria, a leading provider of cutting-edge energy and digital solutions.

The investment aims to deploy 1,536 solar energy systems ranging from 600W to 3KW through Baobab Plus Nigeria’s extensive distribution channels across the country.

In a released statement, All On highlighted that the collaboration intends to leverage Baobab+ Nigeria’s existing Pay-as-you-Go Agent Network in 21 locations across Southwest, North Central, and Northwest to implement the deployment of 1,536 SES.

The statement emphasized that with this financial injection, Baobab+ will not only extend its PayGo Agent Network to new locations but also capitalize on its partnerships with financial institutions nationwide.

“This deployment signifies a crucial step towards a sustainable energy future in Nigeria, providing affordable and reliable solar energy products for SMEs and individuals.

Baobab+ Nigeria and All On DART’s program are not just bringing illumination to homes and communities but also empowering and safeguarding the environment,” the statement read.

Furthermore, it outlined that the PayGo distribution channel would play a pivotal role in financing and distributing stand-alone solar energy systems to rural off-grid and underserved communities through agent network systems, facilitating last-mile distribution.

The firm highlighted that the flexible payment options offered to consumers, coupled with DART’s attractive financing plans, address the major price barrier, making products accessible to those with lower incomes by aligning with their spending habits.

Caroline Eboumbou, the CEO of All On, stated, “All On is dedicated to increasing access to energy products and services for underserved and unserved communities in Nigeria.

This collaboration with Baobab+ underscores our commitment to supporting Nigeria’s sustainable development and creating a brighter future for all Nigerians.”

Kolawole Osinowo, CEO of Baobab+ Nigeria, expressed enthusiasm about the innovative partnership, describing the investment as a unique financing model enabling them to expand their reach and empower SMEs and communities nationwide to seamlessly transition to renewable energy.

Baobab+ emphasized its mission to deliver affordable solar systems, resulting in cost savings, improved living conditions, and environmental preservation for future generations, acknowledging All On’s invaluable support in making a significant impact on countless lives.

 

Attracting oil companies, FG offers renewed incentives

Tosin Ranks
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Attracting oil companies, FG offers renewed incentives

The Federal Government aims to attract oil and gas investments in Nigeria, Africa’s largest economy, by introducing incentives.

Gbenga Komolafe, the CEO of the Nigerian Upstream Petroleum Regulatory Commission, mentioned that measures include replacing signature bonuses with lump sums for production. Addressing licensing delays is also a priority to boost interest from oil companies.

President Bola Tinubu’s comprehensive reforms aim to revitalize economic growth, emphasizing the critical role of energy sector recovery.

Komolafe views cost reduction and resolving production agreement delays as a significant paradigm shift. In the upcoming bidding round, potential investors will witness Nigeria’s commitment to a new approach.

Tinubu’s ambitious goal to increase oil output to four million barrels a day by 2030 faces challenges, including infrastructure upgrades and tackling issues leading to the exodus of oil majors.

The government’s focus on eradicating theft, vandalism, and enhancing community relations aims to counter a 74% decline in capital inflows over the past decade.

 

Chevron reaffirms its dedication to Nigeria

Tosin Ranks
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Chevron reaffirms its dedication to Nigeria

Chevron Nigeria Limited has refuted claims suggesting that it has neglected investment opportunities in Nigeria for 2024.

The company asserts its unwavering commitment to maintaining the current mutually beneficial and enduring relationship with Africa’s largest economy.

In a statement released on Monday, Chevron clarified that the earlier media report was misleading and inaccurate.

The company, operating in a joint-venture partnership with the Nigerian National Petroleum Corporation for onshore and offshore assets in the Niger Delta region, emphasized its dedication to sustaining positive economic and social impacts in Nigeria.

Chevron reiterated its focus on capital discipline and delivering higher returns to shareholders, underscoring its proactive engagement with the government and industry peers to ensure global competitiveness and the sustainability of the petroleum sector.

 

Vetiva predicts that growth in 2024 will be propelled by core banking

Tosin Ranks
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Vetiva predicts that growth in 2024 will be propelled by core banking

Vetiva Capital Management, a Nigerian firm, expresses confidence in the growth prospects of core banking for the upcoming year.

Olumide Sole, Vetiva Capital Management’s sub-Saharan banking research analyst, notes significant gains in year-end figures for major banks like Zenith, GTCO, and UBA, mainly attributed to Forex evaluation gains in 2023.

Discussing the impact of rising interest rates on the cost of funds, Sole emphasizes that banks are grappling with increased costs due to higher interest rates on customer deposits.

The removal of the two-billion limit on daily deposits through the Standing Deposit Facility by the Central Bank of Nigeria is seen as a strategic opportunity for banks to boost their revenue and core banking income.

Sole points out Access as the largest bank by asset size, expecting continued growth.

Anticipating the impact of the recent issuance of more shares on First Bank of Nigeria, Sole foresees this contributing to the bank’s expansion.

Other banks, like FCMB Group and Fidelity Bank, are well-positioned for growth following additional capital issuance and strategic acquisitions, respectively.

While acknowledging Stanbic’s consistent dividend payout and the launch of a fintech subsidiary, Sole also recognizes UBA’s impressive performance with a substantial non-interest margin, anticipating sustained support for the bank’s performance in 2024.

Zenith Bank’s robust 40% dividend payout is deemed impressive and is expected to fortify its stock market performance into 2024, according to Sole.

Tinubu urges NNPC board as the company aims for a projected 2 million barrels per day in oil production

Tosin Ranks
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0
Tinubu urges NNPC board as the company aims for a projected 2 million barrels per day in oil production

On Monday, President Bola Tinubu directed the Nigerian National Petroleum Company Limited’s Board to promptly commence their duties, cautioning against non-performance.

Tinubu emphasized a zero-tolerance policy for behaviors hinting at entitlement, asserting the potential dissolution of the Board without prior notice for inadequate performance.

He underscored the importance of sustained excellence and vowed to optimize Nigeria’s security architecture to support the Board’s effectiveness.

Tinubu urged the Board to prioritize corporate social responsibility for the Niger Delta, recognizing the region as vital to the nation’s well-being.

He emphasized the need for environmental care, enhanced security to curb theft and vandalism, and a shift towards cleaner energy.

Additionally, Tinubu encouraged a thorough examination of the Petroleum Industry Act, empowering the Cabinet and Board to devise strategies for increased production, profitability, and governance.

Chairman Pius Akinyelure praised the President for subsidy removal, expressing the Board’s commitment to boosting crude oil production to two million barrels per day by 2024.

However, he acknowledged the challenge of oil theft, emphasizing the necessity of overhauling the security architecture to mitigate pipeline vandalism.

The Board aims to make Nigeria a leader in the oil and gas industry globally, with a focus on transitioning to sustainable green energy, according to Dr. Eunice Thomas, the only female board member.

The inauguration included key figures such as Umar Ajiya, Ledum Mitee, Musa Tumsa, Ghali Muhammad, Mustapha Aliyu, David Ogbodo, and Eunice Thomas.

 

Ondo generates N900 million from motorcycle and tricycle riders within an 11-month period

Tosin Ranks
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0
Ondo generates N900 million from motorcycle and tricycle riders within an 11-month period

The Ondo State Government has reported a total revenue of N900 million from the sale of tickets to commercial motorcyclists and tricyclists throughout the state.

The government aims to surpass the N1 billion mark by the end of December 2023.

The Chairman of the state Internal Revenue Service, Mr Tolu Adegbie, revealed this information during the 2023 raffle draw ceremony for commercial motorcycle and tricycle operators held in Akure on Monday.

Despite the positive outlook, Adegbie acknowledged a revenue shortfall compared to the previous year, citing factors such as the naira scarcity issue early in the year and the removal of fuel subsidy.

He emphasized that the generated amount of N900 million, covering January to November, falls short of the N1 billion recorded during the same period last year. Notably, the bulk of this revenue is attributed to motorcycles.

Adegbie highlighted the tricycle sector’s contribution, mentioning an approximate range of N250 to N350 million.

In response, the government is encouraging tricycle owners, albeit fewer in number, to improve their performance.

Adegbie expressed optimism that by the end of December, the total revenue from motorcycle and tricycle operations would exceed N1 billion.

Earlier, Doyin Odebowale, the Special Adviser to Governor Rotimi Akeredolu on Special Duty and Strategy, provided context, stating that the revenue from commercial motorcyclists was initially around N400,000 monthly and N4.8 million annually when the current government assumed office.

However, by 2018, the Akeredolu administration successfully increased the revenue to N350 million.

During the ceremony, various items such as motorcycles, bags of rice, and others were presented as gifts to operators by the Ondo State Internal Revenue Service (ODIRS) to express appreciation for their commitment.

 

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