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Dangote empowers 16,000 rural women in all Kwara LG

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L-R, Managing Director/ CEO, Aliko Dangote Foundation, Zouera Youssoufou, Group Executive Director, International Trade/Exports, Dangote Industries Limited, Sada Ladan-Baki, One of the Beneficiary, Kwara State Deputy Governor Kayode Alabi, Group Executive Director, Government and Strategic Relations, Dangote Industries Limited, Engr. Ahmed Mansur, Who represent the President/ Chief Executive, Dangote industries Limited, at the Official Flag- Off of Disbursements of the Dangote Micro -Grants Programme in Moro Local Government Area , Kwara State on Wednesday 31st March 2021

 

 

Aliko Dangote Foundation (ADF), on Wednesday, empowered a total of 16,000 women in all the 16 local governments area of Kwara State. Each of the 16 thousand rural women were given the sum of N10,000 each, to help boost their petty trade and also start new businesses.

In all, a total of N160,000 million were given to the rural women in a funfair event, held in Moro Local Government area of Kwara State.

Deputy Governor of the state, who stood in for the Governor, Abdulraham Abdulrasaq, lauded the ADF empowerment programme and described it as part of the key economic tools needed to boost the socioeconomic activities of the rural areas, and ultimately the state.

He said “This Aliko Dangote Foundation empowerment programme will impact positively on the socio-economic activity of our state. We are so pleased with this and cannot thank Aliko Dangote enough. We don’t want people to come and unnecessarily populate the urban areas, we want to encourage people to stay in the rural areas and add value to the respective lives and also to the state economy. This indeed is a noble gesture”

Dangote’s Group Executive Director, Government and Strategic Relations, Eng. Ahmed Mansur, who represented Aliko Dangote said “…To Aliko Dangote, whom much is given, much is expected. Dangote is being blessed by Allah and he enjoys sharing some of his blessings with the people around him. This investment in the rural areas will circulate well in this rural areas and also boost the economy of the state eventually…We are going to do this on all the local governments in Nigeria.

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In the same vein, the Managing Director and Chief executive of ADF, Zouera Youssoufou, explained that the empowerment programme is an ongoing activity of the Foundation and that while some Local Governments have been covered already, all rural women in the local governments, across the the country will benefit from this noble gesture from Aliko Dangote.

She said: ” … the focus is on women because we all need to note that once you support a woman, you are supporting the whole family and the multiplier effect of that will be very great… We have done several states in the past and today we are also doing for kwara, empowering 1,000 women for each of the 16 local governments in kwara. Each of the women gets 10,000 each, to be disbursed immediately and concluded within the next three weeks all across the state…

It would be recalled that the same ADF recently launched a major philanthropic programme in Zamfara State, doling out food items running into several millions of naira to support victims of insurgency.

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The farmers-herders clash and sporadic attacks by cattle rustlers have displaced thousands, many of whom are currently seeking refuge at Maradun Local Government Area of the State.

According to official reports over 3,000 people have been killed, about 100,000 displaced, of which about 30,000 are in Maradun LG, and over 500 people kidnapped.

Group Executive Director Government Relations and Strategic Relations Mansur Ahmed who presented the food items on behalf of the Group President Aliko Dangote said the Foundation was supporting the government and traditional leaders in meeting the needs of the IDPs.

Only recently Mr. Dangote was rated the world’s 6th largest donors, and Africa’s richest person for almost a decade. His Aliko Dangote Foundation has been endowed with a staggering $1.25billion. He was also listed by Forbes Magazine among the 75 people that make the world turn.

Dangote Foundation had also injected over N7billion to create succor in North East in the wake of the Boko Haram insurgency.

Mr. Ahmed, an Engineer, said Mr. Dangote was very disturbed about the plight of the displaced persons and quickly directed that everything possible is done to provide succor.

Mr. Ahmed said the company was building a 200000-ton capacity of rice mill in Maradun and that when completed this year it would create hundreds of job opportunities for the people of Zamfara State.

Responding, the Emir of Maradun Muhammad Garba Tambari said he was highly elated as the company is the first to intervene by providing food support for displaced persons.

He commended Mr Dangote for the gesture and promise to help secure his investment in his Emirate.

Chairman of the Maradun Local Government Alhaji Yahayah Shehu Maradun thanked the Dangote Foundation for the gesture and pray God to continue to bless the Dangote business.

It would also be recalled that the Federal government, also recently revealed that the N1.2billion hostel donated by the Aliko Dangote Foundation to Ahmadu Bello University Zaria is the single largest donation by an individual in the history of Universities in Nigeria.

Executive Secretary of the National University Commission (NUC) Professor Abubakar Adamu Rasheed who represented President Muhammadu Buhari at the commissioning of the Aliko Dangote Hall extended the Federal Government’s appreciation to the President of the Dangote Group.

The President said: “You have done what no other Nigerian has done since 1948 when the first university was founded. This is the single largest intervention by any individual in any university in this country in the 70 years history of our university. So I congratulate Alhaji Aliko Dangote.”

A visibly elated Governor of Kaduna State Nasir Ahmad el-Rufai who is also an alumnus of the university hailed Alhaji Aliko Dangote for the giant project.

He described Dangote’s generosity as unprecedented, especially his support for education.

Speaking the Vice-Chancellor of the University Professor Ibrahim Garba said Mr. Dangote will forever remain dear to the Ahmadu Bello University.

He added:” The student population of ABU is over 50,000, made up of about 35,000 undergraduates and about 15,000 postgraduates. Every year, 11,500 undergraduates and about 6,000 postgraduates are admitted while about 6,000 undergraduates and 3,000 postgraduates respectively graduate. In any one academic year, we are only able to accommodate about 13,000 students on our two campuses.”

The Vice Chancellor said:” We are happy that Alhaji Aliko Dangote has fulfilled the pledge he made in 2016 to build 10 blocks of hostels for Ahmadu Bello University’s student to improve their living condition.

“We may accommodate six students per room. This will certainly go a long way in ameliorating the accommodation scarcity bedeviling the university.

“We thank Alhaji Aliko Dangote for his intervention, we thank member of the Aliko Dangote Foundation and the entire Dangote Family. This is unprecedented for us we can’t ask for anything more except if he thinks of anything he wants to add on his own volition.”

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Lubricants and Nigeria’s economy

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By Cosmas Chukwunonso Nwobi

Every engine depends on oil, which serves as the heat transfer medium and lubricant for moving parts. It stops wears and damages from happening because the moving parts won’t be rubbing against one another.

The primary consumers of engine oil in Nigeria are those who own cars, generators, enterprises, tricycles, and motorcycles. Diesel and gasoline engines both utilize various grades of engine oil. Diesel engine oil is used to maintain heavy vehicles (diesel vehicles), small and large generators, as well as passenger vehicles (light vehicles). Petrol engine oil is used to maintain passenger vehicles (light vehicles).

The overall annual requirement for lubricating oils across the globe is projected to be 50 billion liters, or 60 percent automotive and 40percent industrial. However, industrial lubricants account for more than 70% of total global gross revenues and profit margins.

According to projections, Nigeria, with a gross domestic product of N150 billion in 2013 and more than N450.37 billion by the end of Q1 2021, is the third-largest user of lubricating oils in Africa, consuming 700 million liters of the substance per year (or 1 percent of the global demand).

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The aggregate profit margins of the blending plants were N45 billion in 2013 and N120 billion in the first quarter of 2021. Their total assets are projected to be worth N20 billion. This indicates that domestic production of lubricating oils meets 75 percent of the country’s total demand, with imports from specialist marketing companies providing the remaining 25percent.

You might also be interested to know that, over the projected period (2021-2026), the market for lubricants in Nigeria is anticipated to develop at a compound annual growth rate (CAGR) of 1.54%, reaching 300,399.52 kilo tons by 2026. which demonstrates that the market for automotive lubricants in Nigeria is anticipated to grow to $683 million by 2023.

This demonstrates that the significance of engine oil cannot be overemphasized and that lubricant production would be a very profitable business endeavor that would considerably boost Nigeria’s economy.

However, this industry was adversely affected by Nigeria’s slowing economic growth. The 2016 recession brought on by the sharp decline in global oil prices was the root cause of the downturn. Oil prices started the year at $36.76 a barrel and reached a high of $54.06 for the year. The lack of foreign exchange had a serious negative impact on the ability of various lubricants manufacturing companies to conduct business and imposed severe costs on key sectors of the country, which further cascaded into all areas of the economy. Given that many players in the industry imported large volumes of base oil and other raw materials needed to blend lubricants at the time, this meant that the shortage of foreign exchange affected all sectors of the economy.

However, the investment landscape is currently changing and Nigeria’s lubricant industry, if properly managed, will surely triple it’s current position in a few years to come. This is due to large oil marketers taking advantage of the lubricants market’s deregulation and lack of significant government intervention.

I commend the effort of the Nigerian Government so far in reducing import charges for Lubricant Blending plants firmly advocate for the need of a driving and I strongly advocate that more can be done in this area since Nigeria’s lubricant business has great prospects for investors. Should we succeed, early investors will also benefit from pioneer status and a five-year tax break.

I firmly believe that better consumer education, cooperation with transportation companies, increased consumer knowledge, and the provision of higher-quality lubricants at lower prices would help Nigeria’s lubricant manufacturers expand and make more money.

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Best choice Specialist Hospital Launches First Intensive Infant Phototherapy Machine In Kano

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_”A Beacon of Progress in Northern Nigeria!”_

In a groundbreaking move, Best Choice Hospital has taken a significant leap forward in pediatric care with the introduction of the Infant Phototherapy Unit, a groundbreaking technology designed to treat jaundice and prevent brain damage in newborns.

In a statement signed by Auwal Muhammad Lawal Group Managing Director of the Hospital noted that pioneering technology enables medical professionals to transfuse blood with unparalleled precision, safety significantly enhancing treatment outcomes for children.

…. Noted that the innovative machine boasts a remarkable 70% radiance output and features a standard phototherapeutic unit, eliminating the need for blood transfusions.

Auwal reiterated that introduction of this advanced state-of-art machine marks a significant milestone in Best Choice Hospital’s ongoing commitment to pediatric excellence.

With its advanced capabilities, the Infant Phototherapy Unit can effectively treat jaundice in a targeted manner, providing a beacon of hope for families.

“We understand the distress and hardship that comes with pediatric medical conditions”

“That’s why we’ve invested on this to ease the burden on families and provide children with the best possible chance at a healthy life”. Said Lawal

As the first of its kind in Northern Nigeria, this cutting-edge technology offers a comprehensive treatment solution for infants, covering the entire body with its optimal wavelength.

Dr. Abdulmalik Saminu, a leading medical expert expresses optimism that the development reinforces Best Choice Hospital’s position as a leader in pediatric care, providing families with renewed hope and confidence in the treatment of their loved ones.

Saminu further conveyed heartfelt gratitude to the hospital’s proprietor for his tireless efforts in making this life-changing technology available.

With the Infant Phototherapy Unit, families no longer need to travel abroad for medical treatment, as Best Choice Hospital now offers world-class care right in their own backyard.

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Naira depreciates to N1,635 in parallel market

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The Naira yesterday depreciated to N1,635 per dollar in the parallel market from N1,625 per dollar last weekend.

However, the Naira yesterday appreciated to N1,585.77 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.

Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,585.77 per dollar from N1,598.56 per dollar last weekend, indicating N12.79 appreciation for the naira. The volume of dollars traded (turnover) in the market declined by 58.8 percent to $71.18 million from $172.8 million traded last week Friday.

Consequently, the margin between the parallel market and NAFEM rate widened to N49.23 per dollar from N26.44 per dollar last weekend.

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