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NELSON MANDELAS DAY
By celebrating Nelson Mandela Day, we pay tribute to a visionary leader and inspire future generations to continue the pursuit of justice, equality, and peace. It is a reminder that the fight against injustice is ongoing and that each of us has the power to leave a lasting impact on the world, just as Nelson Mandela did.
Sierra Leone bans meat imports from Liberia over anthrax spread
Sierra Leone has banned the movement of livestock and meat imports from neighbouring Liberia after 36 cows died near the border, the government said, adding that it was stepping up surveillance for possible anthrax.
Liberian authorities said the cattle deaths began in July near the town of Kelima Bendu in Lofa County, about 10 kilometres (six miles) from the Sierra Leonean border and 15 kilometres from the border with Guinea. Tests are being carried out to find the cause.
In a statement received Tuesday by AFP, the Sierra Leonean government said that the movement of all cattle, goats and sheep had been banned along the border, and livestock markets had been temporarily closed in bordering areas.
It did not give details about the suspected animal deaths in Liberia, but said that in the Sierra Leonean districts of Kailahun, Kenema and Pujehun, surveillance measures had been stepped up at slaughterhouses “for sick animals and humans with signs and symptoms of anthrax.”
In May 2022, an anthrax outbreak in Sierra Leone killed more than 200 animals.
Anthrax is transmitted by spores that can remain inactive for decades in the soil. It is transmissible to humans and sometimes fatal.
“Thus far, there has been no report of dead cattle being discovered in other parts of Lofa or other counties”, the Liberian agriculture ministry said on July 7.
Credit to: vanguardngr.com
LGCI: GPPA staff infers flouting of due procurement process at BAC
Ebrima Sanyang, who has more than a decade and a half of procurement experience and doubles as the director of procurement at Policy and Operations Unit, was testifying before the Local Government Commission of Inquiry, which is currently assessing procurement practice of councils and their levels of compliance.
As the director, he provides specialist advice, guidance and service on leading procurement practice to management all procurement organisations in the country and regularly reviews standard documents to comply with national obligations and commercial laws.
In addition to running the daily management of the policy unit at GPPA, he also supports the implementation of public procurement laws and guidelines.
During Monday’s proceedings, a document that was dated 30 May and identified by the witness as his statement was tendered by the deputy lead counsel and admitted as evidence.
Progressing into the hearing, the witness was referred to the 2019 procurement review of BAC. “We learnt that it is mandatory to send reports to GPPA. Are these reports sent yearly or quarterly, monthly? What is the requirement?” deputy Lead Counsel Patrick Gomez asked, referring to page 26 of the report.
In his response, the witness stated: “According to the Act, procuring organisations are obliged to be reporting on a monthly basis on procurement that has not been subjected to their (GPPA) review.
“I think Mr Tambura must have told us we have different kind of reviews – post and prior. He must have told you the threshold [500,000 or below] and Procurements like single source and request for quotations are in most cases within the threshold. They are done within the procuring organisation without coming to the authority (GPPA).
So the law requires that such procurement that was not subjected to the authority’s prior review approval be sent on a monthly basis.
He admitted that Brikama Area Council has not been acting in line with this provision.
Again, the witness also stated, as contained on page 22, that “Brikama Area Council did not develop specifications in some of the procurement of laptops and desktop computers in contravention to section 25 (1) (2) (3) and (4) of the GPPA Act.”
“Specifications are important because they guide you. They tell you what is exactly needed. Otherwise you may buy things that are not fit for purpose. The specifications will tell you what you want to buy, what it is meant for and the price and so on and so forth,” he told the Commission.
On the implications, the witness agreed with the deputy lead counsel that the value for money may not be attained and the quality could be compromised.
credit to: thepoint.gm
Fuel Price Climbs To N617 Per Litre
The price of Petrol has increased to about N617 per litre in the nation’s capital, Daily Trust can confirm.
A visit to an NNPC filling station in the Central area of Abuja on Tuesday morning showed that the fuel price had been adjusted from N539 to N617 per litre.
A customer confirmed to Daily Trust that he bought at the new rate.
“It is true, I just bought at N617 per liter,” he said.
The immediate reason could not be ascertained but it ight be connected to the recent projections by oil marketers that fuel price will hit N700 per litre soon.
Some oil marketers had predicted that petrol prices could rise above N700 per litre in the northern region and around N600 in Lagos once independent marketers start importing the products from July.
Their predictions were based on the current high exchange rate, crude price and landing cost.
The trend caused tension and panic buying as queues of motorists sprung up in some filling stations in the Federal Capital Territory (FCT).
But the Independent Petroleum Marketers Association of Nigeria (IPMAN) and Association of Distributors and Transporters of Petroleum Products (ADITOP) denied plans to increase petrol price to N700 per litre.
The associations in an interview with the News Agency of Nigeria (NAN) dismissed reports of the alleged increase of pump price as speculations.
They said fuel price was being driven by market forces and given the current high exchange rate, the pump price of Premium Motor Spirit (PMS), otherwise called petrol could increase, hence the prediction.
The Nigeria Midstream and Downstream Petroleum Regulatory Authority (NDMPRA) is yet to comment to Daily Trust inquiry on the sudden pump price increase as at the time of filling this report.
During his inaugural speech on May 29, President Bola Ahmed Tinubu had announced the removal of fuel subsidy, leading to the increased price of petrol from N195 to N540 per litre.
Daily Trust reports that the increase in petrol prices has already led to a hike in the prices of goods. Worst affected are foodstuff and transportation.
Nigerians have been lamenting the effect of subsidy removal on their lives, but the Tinubu administration has promised relief.
Last week when he hosted class of 1999 Governors, Tinubu appealed for more patience from Nigerians.
He assured Nigerians that the framework for palliatives to remedy the effects of fuel subsidy removal was being worked out.
“I understand that our people are suffering yet there can be no childbirth without pain. The joy of childbirth is the relief that comes after the pain. Nigeria is reborn already with fuel subsidy removal. It is a rebirth of the country for the largest number over a few smugglers. Please tell the people to be a little patient.”
“The palliative is coming. I don’t want cash-transfer to fall into wrong hands. I know it pinches and it is difficult. In the end, we will rejoice in the prosperity of our country,’’ he had told the governors, who were led by former Governor of Edo State, Lucky Igbinedion.
Tinubu had earlier written to the House of Representatives to seek an amendment to the 2023 supplementary appropriation act to accommodate N500 billion for provision of palliatives for Nigerians.
The parliament subsequently approved the request.
Credit to: dailytrust.com
Nigerian petrol prices reach record high after subsidy removal
Almost two months after Nigerian President Bola Tinubu scrapped a popular but costly fuel subsidy, petrol prices have risen to 617 naira ($0.78) per litre, the highest in the history of Africa’s largest oil producer.
Prices were updated nationwide on Tuesday from 557 naira ($0.70) per litre at fuel stations operated by the state-owned Nigerian National Petroleum Co (NNPC), according to a circular seen by the Reuters news agency.
The NNPC did not immediately respond to calls seeking comment.
Tinubu, who has embarked on some of Nigeria’s biggest reforms in decades to tackle issues including its high debt burden, ended the subsidy on May 29 during his inauguration speech.
The subsidy, introduced in the 1970s, had kept fuel prices cheap for decades but had become increasingly expensive, costing the government $10bn last year.
“Subsidy” became a national buzzword in 2012 when then-President Goodluck Jonathan announced its removal. Fuel prices increased from 65 naira ($0.14) to 140 naira ($0.30) per litre and triggered almost two weeks of protests known as Occupy Nigeria, causing Jonathan to reverse the decision.
Since ending the subsidy this year, 56 private firms have been licensed to import petrol, and 10 of them are due to start deliveries in the third quarter. The NNPC had previously been the sole importer of petrol using crude swap contracts.
“Out of these 10, three of them have already landed cargoes, … and others are also indicating interest to import in August and September,” Farouk Ahmed, head of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), said in a statement.
Nigeria imports almost all its refined fuel due to inadequate refining capacity and neglect of existing refineries.
In June, average daily petrol consumption fell to 48.43 million litres (13 million gallons), down from a daily average of 66.9 million litres in January through May before the subsidy was removed, according to figures from the NMDPRA.
Credit to: AL JAZEERA AND NEWS AGENCIES
Meet Oba Otudeko, the Man Who Overtook Femi Otedola to Become First Bank’s Majority Shareholder
Recently, the businessman who was at a time the chairman of FBN Holdings acquired 4.7 billion shares of the bank, becoming the majority shareholder with 14% stake.
This simple acquisition has stirred controversy from different quarters, including Ecobank Nigeria who accuse Otudeko of divesting his asset and claim that he was owing it.
Asides the controversy generated so far, it is only imperative for us to get to know this accomplished entrepreneur and investor who has founded many thriving and successful companies in over five decades.
Otudeko’s early life and education
Born on August 18, 1943, in Ibadan, Oyo State, Ayoola Oba Otudeko hails from a distinguished lineage as an Omoba of the Yoruba community. His mother excelled as a prominent entrepreneur.
His educational journey started at St. John’s School in Oke Agbo, Ijebu-Igbo in Ogun State. Subsequently, he pursued his studies at Olivet Baptist High School in Oyo State. Otudeko furthered his academic pursuits by enrolling in Accountancy at the Leeds College of Commerce in Leeds, Yorkshire, United Kingdom.
Building upon his educational foundation, Oba Otudeko attained professional qualifications as a Chartered Banker, Chartered Accountant, and Chartered Corporate Secretary. In addition to his educational background, Oba Otudeko has actively participated in executive management training programs offered by prestigious institutions. Notably, he enriched his knowledge and skills by attending programs at the International Institute for Management Development (IMD), Harvard Business School, and Hult International Business School (formerly known as Arthur D. Little School of Management).
Otudeko’s banking career Utilizing his acquired qualifications, Otudeko commenced his professional journey as a clerk at the Co-operative Bank in Ibadan, despite its nonoperational status. Displaying unwavering commitment and diligence, he remained dedicated to his role, gradually ascending the ranks within the organization. Through perseverance and hard work, Otudeko achieved promotions that propelled him to the esteemed positions of General Manager and acting Chief Executive Officer of the bank.
This noteworthy progression exemplifies his resilience and determination to reach the pinnacle of his career. Demonstrating remarkable loyalty, he dedicated 23 years of his professional life to the banking industry, delivering exceptional service in the corporate realm. Ultimately, in 1983, after leaving an indelible mark within the sector, Otudeko decided to resign from his role.
Going into business With a business-savvy mother, Otudeko harbored a deep-rooted inclination towards the entrepreneurial realm.
When he retired from the banking sector, he found himself with the opportunity to fully immerse himself in this passion.
This marked the inception of Honeywell Enterprises, initially established as a trading venture focused on importing and marketing commodities across the northern and southern regions of Nigeria during the 1970s. Over time, the enterprise flourished and evolved into Honeywell Group, a prominent indigenous conglomerate at the forefront of Nigeria’s business landscape.
Otudeko’s Honeywell Group and its many subsidiaries
Starting as a flour mill, the Honeywell Group has undergone a transformative journey, growing into a diversified conglomerate with numerous subsidiaries operating across various sectors of the economy. Prized companies Otudeko still keeps in his portfolio today are Broadview Engineering Limited, HOGL Energy Limited and Rosetti Pivot Nigeria Limited. Others are Anchorage Leisures, Uraga Real Estate, Shoreline Logistics Nigeria and Pavilion Technology.
Otudeko’s humanitarian works and philanthropy
In 2003, Oba Otudeko took the initiative to establish the Oba Otudeko Foundation (OOF), a non-governmental organization dedicated to giving back to society.
The foundation’s primary objective is to foster sustainable development in Nigeria and other African nations. It achieves this by focusing on empowering individuals, building their capacities, and strengthening institutions within these communities. The Oba Otudeko Foundation is committed to making a meaningful and lasting impact in pursuit of its mission.
Boards served on
From May 1997 to December 2010, Oba Otudeko served on the board of First Bank, and later, from 2011 to 2021, he continued his service as Chairman of FBN Holdings until his retirement. Additionally, he held significant leadership roles as Chairman of Honeywell Flour Mills Plc, FBN Bank (UK) Limited, Fan Milk of Nigeria Plc, Airtel Nigeria, and the Nigeria-South Africa Chamber of Commerce from 2000 to 2011. Throughout his distinguished career, Oba Otudeko’s expertise was sought after, as demonstrated by his board memberships in various esteemed organizations. Notably, he contributed to the Central Bank of Nigeria from 1990 to 1997, Guinness Nigeria Plc from 1999 to 2003, British American Tobacco Ltd from 2001 to 2004, and Ecobank Transnational Incorporated, headquartered in Lome, Togo, from 2002 to 2010.
Furthermore, from September 2006 to August 2009, he held the esteemed position of the 16th President and Chairman of the Council of the Nigerian Stock Exchange, further exemplifying his leadership and influence within the financial sector.
Awards and recognition
In recognition of his significant contributions to Nigeria’s economic and social development, as well as his unwavering dedication to noble causes and the betterment of the nation, Oba Otudeko’s National Honour has been elevated throughout the years. In November 2011, he was bestowed with the prestigious title of Commander of the Order of the Federal Republic (CFR), having previously received the Officer of the Order of the Federal Republic (OFR) in November 2002 and the Member of the Order of the Federal Republic (MFR) in December 2000. In 2001, he was awarded an honorary doctorate degree by Olabisi Onabanjo University, and in 2011, Crescent University bestowed this prestigious honor upon him.
Furthermore, he was honored as the Entrepreneur of the Year by ThisDay Newspapers in 2006 and recognized as the African Business Leader of the Year by Africa Investor Magazine in 2009. Otudeko’s family life Otudeko is happily married to Adebisi Aderonke Otudeko, who holds the title of princess within a ruling family in Ijebu-Ode, Ogun State. Together, they have been blessed with three children: Moyo Otudeko, Folake Otudeko, and Obafemi Ademola Otudeko, and their family continues to grow with the addition of many grandchildren. Otudeko’s devout faith lies in Christianity, and he finds great pleasure in immersing himself in the world of literature. An avid reader, he particularly enjoys delving into biographies, historical accounts, and books on leadership.
Credit to: Legit.ng
Resist new scramble for Africa, Tinubu tells AU forum
President Bola Tinubu on Sunday, in Kenya, said the forces that plundered Africa in the past and still seek to impede its progress today will not find easy inroads into the continent.
Tinubu said Africa was now strong and its leaders would no longer remain passive as they worked to harness their vast resources to better their respective countries.
“But here and now, let it be said to whomever the new scramblers might be, that our continent may be old, but our spirit is new. And it is strong. The bad that took place in the past must stay there. It shall never be repeated,” Tinubu told his counterparts at the Fifth Mid-Year Coordination Meeting of the African Union in Nairobi, the Kenyan capital.
The forum also featured deliberations amongst the various regional economic communities, the regional mechanisms and the African Union Member-States.
The President’s Special Adviser on Special Duties, Communications and Strategy, Dele Alake, revealed this in a statement he signed on Sunday titled: ‘In maiden speech at AU, President Tinubu affirms Africa’s unity and strength, rejects notion of a new scramble for continent.’
In his address titled: ‘Address on Status of Regional Integration in ECOWAS,’ Tinubu emphasised the need for Africa to overcome its challenges and work towards a prosperous future, focusing on inclusive growth, good governance and leveraging the opportunities provided by the African Continental Free Trade Area.
However, the President vehemently rejected the notion of a new scramble for Africa, noting that “some observers assert a new scramble for Africa is afoot and it is much like the old scramble that plundered our continent.”
The Nigerian leader called for good governance to ensure a prosperous future for Africa, free from the exploitations of the past.
“As Africans, we forge ahead, no matter the barriers thrust before us. The world we inhabit is often unkind and uncertain. History and current global difficulties argue against our future success.
“Lessons of the past few years teach us that the world economy can be disrupted in ways that halt progress and invite downturn. Our nations can suddenly find themselves in dire situations if we choose to be passive observers of our fate.
“Such passivity does not commend itself to me. I will not listen to it. Neither should any African. The challenges we face mean that governance will be difficult,” Tinubu said.
Harping on his message to uphold democracy in West Africa, the Nigerian leader, as ECOWAS Chairman, announced plans to strengthen the bloc’s Standby Force to deter coups and combat terrorism in the sub-region.
He argued that while leaders sat to discuss vital economic matters, it would be impossible to implement the outcomes of the discussions unless due consideration was given to the instability and conflict ravaging many African states.
Credit to: punchng.com
HAPPY NEW WEEK
Here’s to a week filled with laughter, productivity, and memorable moments. Embrace each day with open arms, and let the positive vibes guide you to new heights.
Happy New Week! Make it extraordinary! ✨
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