Today, I celebrate my father, mentor and helper, Chief Olusegun Osunkeye, who clocks 80 today.
Since my encounter with you about 15 years, I have had every cause to appreciate God for granting me the opportunity to meet and know you. You’ve ever since then embraced and adopted me as your son, and you’re always ready to support my vision.
I would always appreciate your impactful words of wisdom and encouragement. You’re always everly ready to listen, advise, guide and guard me accordingly, counselling and providing alternative viewpoints where necessary to achieve better results.
Thank you for your fatherly support and wonderful show of love over the years. Thank you sir for granting me the initial capital for the ongoing project I’m executing. Thank you for supporting my vision. Thank you for offering me fresh and new perspectives all the times.
Even when I don’t remember to call or update you on the status of the project, you’ll call me to inquire to know and find out if there’s any difficulty on my way. What a wonderful father I’ve got in you!
Ten years ago, we gathered to mark your 70th birthday anniversary and it was indeed a celebration of your great deeds as one of Nigeria’s most influential personalities of all times.
At 80, you remain one of the greatest and most outstanding Nigerians who has essentially contributed to the development and transformation of our dear country.
Your indelible marks of achievement, most importantly, your quests for investment and encouragement of local content remain subjects of reference while you served as the Managing Director/Chief Executive Officer of Nestle Nigeria Plc; Chairman, GlaxoSmithKline Consumer Nigeria; Chairman, Lafarge Plc; Chairman, International Chamber of Commerce Nigeria; and President, Society for Corporate Governance in Nigeria.
You have touched many lives with your managerial acumen, creating employment opportunities for a large number of people. And you remain one of Nigeria’s finest boardroom gurus and excellent administrators of all times.
As you celebrate your 80th birthday anniversary today, I pray Almighty God to continue to sustain you with good health and grant you fresh grace to enjoy your old age. Amen.
Happy birthday to you, my dearest father and mentor.
The installation rite of Oba Abdul-Wasiu Omogbolahan Lawal as the 15th Oniru of Iru land in Lagos State came to peak over the weekend with the coronation reception and public presentation of the kingdom’s insignia.
Oba Lawal, at the event, unveiled his economic development plan for the kingdom – Let’s Develop Iruland Together – with the acronym “LeGIt.”
The blueprint, the monarch disclosed, was designed to reflect key deliverables of the T.H.E.M.E.S. agenda being championed by Lagos State Governor, Babajide Sanwo-Olu.
The event, held at Iru Palace, Victoria Island, was marked with a parade of royalty and culture.
The reception, which was initially suspended due to Lagos State’s Coronavirus (COVID-19) protocols, came three months after Oba Lawal formally received traditional staff of office and instrument of appointment from Sanwo-Olu to ascend the Iru throne.
A roll call of VIPs, administrators and politicians, led by the National Leader of the All Progressives Congress (APC), Asiwaju Bola Tinubu, Sanwo-Olu, his wife, Ibijoke, graced the occasion.
The event was also attended by traditional rulers within and outside Lagos State, including Ooni of Ife, Oba Adeyeye Ogunwusi; Elegushi of Ikateland, Oba Saheed Ademola Elegushi; and the representatives of Oba of Lagos, Alayeluwa Rilwan Akiolu.
Oba Lawal described the event as “another significant chapter” in the annals of the kingdom, thanking Sanwo-Olu for approving his selection by the kingmaker and the support since his installation.
He specially praised Tinubu, whom he called a mentor and father, for giving him the opportunity of his shots in public service.
The monarch said the priorities of his leadership would focus on socio-economic development of the kingdom, disclosing that the palace had established an independent nonprofit organisation – HRM Abisogun II Foundation for Peace and Development (HAIIF) – with the objective to drive multi-stakeholder partnerships for peace and prosperity of the kingdom.
According to him, “The burning desire to proffer pragmatic solutions to challenges facing Iru land has led to the initiative called LeGIT. This will be a rallying point and clarion call to all stakeholders to work with me to develop Iru into one of the most sustainable communities in Lagos. Our plans are in line with development agenda of the Governor.”
The monarch, thereafter, unveiled the traditional insignia of the kingdom, which reflects Iru culture and its dominant means of livelihood. The insignia depicts fishermen, newbouldia leaves and the iconic Iru crown in golden hues.
Sanwo-Olu, in his remarks, described traditional institutions as “indispensable branch” of Yoruba society, noting that the socio-economic growth witnessed in Iru kingdom in the last two decades had contributed in no small measure to the development of Lagos.
Sanwo-Olu, represented by the Deputy Governor, Obafemi Hamzat, commended the monarch for keeping peace and for sustaining the effort to unite members of the royal families after ascending the throne.
The governor said he looked forward to more rewarding development activities in Iru land, but urged residents to rally round the Oniru and maintain peace in order to achieve the monarch’s outlined objectives.
Sanwo-Olu said he had absolute confidence in the leadership ability of Oba Lawal to transform the kingdom into a 21st Century city of commerce and culture, urging him to bring his wealth of experience in public service to bear in the administration of Iru land.
He said: “I have absolute confidence in the ability and capacity of His Royal Majesty to bring about greater transformation that will benefit everybody and further reposition Iru land within the metrics of development in Lagos State.
“During the installation ceremony in June, I enjoined the Oniru to strengthen the existing bond of unity within Iruland for the overall development of peace and progress of this kingdom.
“Two months on the throne, I’m pleased to note that the monarch took this advice to heart as exemplified by his very impressive actions characterised by wisdom, knowledge and large heartedness.
“My advice to all citizens of this great kingdom, as well as residents, is to continue to stand firm and united behind the king in order to advance the development and prosperity of this kingdom for the benefit of all.”
Also speaking at the event, Tinubu said the event should signal an end to the tussle and controversies that trailed the selection of Oba Lawal as Oniru, saying it was time the kingdom moved on.
He vouched for the leadership qualities of the monarch, pointing out that Oba Lawal has enormous capacity to endure, learned and listens.
Tinubu, who described the Oniru as a son, said the Oniru was a good choice for the kingdom and urged members of ruling houses in the kingdom to rally round the Oniru for the progress of Iru land.
He, however, urged the monarch to show good character as key component of his leadership, noting that his effort to move the kingdom forward would be futile without character.
The Governor Babajide Sanwo-Olu-led Lagos State Government Monday announced temporary closure of Oba Ogunji Road, between Iju and Ijaiye Road, for rehabilitation works from September 9 to 30, as part of the ongoing construction of Pen Cinema Flyover.
The governor, in a statement by his Commissioner for Transportation, Frederic Oladeinde, said access to the restricted routes would be limited to construction vehicles and local residents to enable work move smoothly towards meeting timelines set for repairs.
The statement hinted that different alternative routes have been rehabilitated and made accessible for road users during the construction period, adding that Lagos State Traffic Management Authority (LASTMA) and other traffic management agencies would be available to direct traffic for free vehicular movement.
“Motorists with the intent to use Oba Ogunji Road from Iju or Old Abeokuta Roads are advised to use Iju Road to connect Agege Pen Cinema and link Ijaye Road (Maternity, Stadium and Marketing) to their destinations.
“Alternatively, they can also make use of Old Abeokuta Road to connect Odejobi Road to link College Road through Oyemekun Road to Yaya Abatan, which will lead them to Ijaye Road to connect their desired destinations,” the governor said.
Other alternative routes listed include: the diversion to Abule-Egba Road through Old Abeokuta Road to connect Charity and Jonathan Coker Road, which would lead to Iju or Old Abeokuta Roads to connect Agege Motor Road (Isokoko Ashade Railway Crossing) through Akanni Doherty and Oba Akran/Guinness Roundabout axis (Mobil/Ashade) towards Akilo and Ijaye axis.
“Motorists coming from Akilo/Wemco/Ijaiye Road towards Oba Ogunji Road are advised to use Ijaiye Road (Marketing, Agege Stadium) all the way to Ijaiye Road intersection (Maternity) to link Agege Pen Cinema which will connect them to Iju Road,” the statement added.
The state government disclosed further that motorists would also be able to use Ijaye Road (Excellence Hotel) to Yaya Abatan Road to link Oyemekun/College axis to access Iju Road, while Ijaiye (Marketing) to Akilo Road and Guinness Roundabout through Oba Akran and Akanni Doherty Road would also connect Agege Motor Road (Isokoko) to access Old Abeokuta Road onwards to desired destinations.
Soliciting for the cooperation and understanding of all road users during the period, Lagos State Government appealed to residents, especially motorists plying the axis, to support the project because the roadworks are aimed at achieving efficient traffic management and transportation policy.
An Integrated ICT services provider, Internet Solutions Limited, has rebranded and set to operate as Dimension Data from the end of this year in all its operating companies.
The company said the rebranding was part of Dimension Data’s larger plan to consolidate its businesses, enhance efficiency, and better delivery of the changing technology needs of its clients in Nigeria and beyond.
To this end, Olugbenga Olabiyi has been appointed as the Country Manager to head the company’s business operations in Nigeria.
Speaking on the new developments, Olabiyi assured clients that the company would continue to deliver services seamlessly and efficiently even as the firm works through the rebranding and integration process.
He noted that the company would be focusing on developing uniquely tailored IT solutions as well as providing value-driven services through customer engagement and outstanding technology infrastructure – that advance productivity and business growth.
According to him, “We are happy to have received the government’s approval allowing us to rebrand and operate as Dimension Data.
“Our vision is to be a partner of choice for businesses; delivering innovative, game-changing technology and solutions not only in Nigeria but in the Middle East and Africa.”
The Dimension Data Group of companies is also consolidating and rebranding all its subsidiaries in the Middle East and the rest of Africa where it has operations.
The realignment saw Internet Solutions Managing Director Richard Hechle appointed to head the group’s consolidated business in East and West Africa.
Dimension Data East and West Africa Managing Director, Richard Hechle, said consolidating the company’s business would help the firm unlock opportunities for greater innovation, as well as giving clients the power to build their futures using game changing technology.
“Bringing all our people and operating companies together will allow us to effectively and efficiently execute our go-to market strategy and enable our clients’ success in a digital-first world.
“This digital-first world is characterised by technologies that are converging to deliver unified, hybrid and holistic solutions for real business impact,” he said.
As the market continues to evolve, he said the company was conscious of the need to remain relevant by delivering products and services that enable clients to meet the increasing demand for personalisation and customisation.
He added that leveraging technology is critical for businesses and our products and services play a vital role in empowering them to build their future.
The group is reorganising around five go-to-market areas to deliver intelligent technology and services that are aligned to our clients’ journeys, including Intelligent Infrastructure, Intelligent Workplace & Customer Experience, Intelligent Business Applications, Intelligent Innovation, and Intelligent Cyber Security.
“Reorganising ourselves to deliver what the market demands is driven with growth in mind and we are very excited about the future and are committed to bringing these changes online quickly.
“The role of technology in business is changing, therefore, how it is consumed, and the decisions related to technology are also changing. We are adapting to align our organisation to that of our client choices,” Hechle said.
“The way we collaborate with our clients is where we create the most significant value and sustainable business outcomes for them. The logic is clear: the more we focus on seamless client experiences, the more focused we become on delivering solutions that work. We believe that when we understand our clients’ needs, we deliver better solutions,” he noted.
Founded in 1983, Dimension Data is a USD8 billion global leader in designing, optimising, and managing today’s evolving technology environments. Headquartered in Johannesburg, Dimension Data employs 28,000 people across 46 countries.
Candidates for the Lagos East Senatorial Bye Election, Adetokunbo Mukhail Abiru (APC) and Babatunde Olalere Gbadamosi (PDP).
It’s no longer news that Adetokunbo Mukhail Abiru has been chosen as the All Progressives Congress (APC) candidate for Lagos East Senatorial District by-election, while Babatunde Olalere Gbadamosi would fly the ticket of the Peoples Democratic Party (PDP) at the forthcoming poll.
Both Abiru and Gbadamosi are expected to canvass for votes among the electorate who reside and are duly registered by the Independent National Electoral Commission (INEC) within the senatorial district ahead of the October 31 by-election.
Of note is the fact that Abiru and Gbadamosi have carved a niche for themselves in their various areas of human endeavour. While the former recently retired as the Managing Director/Chief Executive Officer of Polaris Bank, the latter is a successful businessman and real estate expert.
Abiru has almost three decades of banking experience and served as Lagos State Commissioner for Finance from 2011 to 2015 in the administration of Babatunde Raji Fashola.
Born on March 25, 1964, Abiru earned a B.Sc degree in Economics from Lagos State University (LASU). He’s also an alumnus of Harvard Business School (Advanced Management Programme). He also attended Lagos Business School (Senior Management Programme).
He’s a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and an Honourary Senior Member of the Chartered Institute of Bankers of Nigeria (CIBN).
Gbadamosi was a governorship candidate of the Action Democratic Party (ADP) in Lagos State during the 2019 general elections. He’s generally described as the man who won the debate, but ended up as the second runner up at the general election. In March 2020, he rejoined PDP and eventually became the party’s candidate for the forthcoming by-election.
Gbadamosi was born on October 15, 1967. He attended the now defunct Lagos State School of Basic Studies in Agindingbi, Ikeja and also Lagos State University (LASU).
He’s described as a foremost businessman, real estate developer and politician. He’s the Chairman/Chief Executive Officer of Redbrick Homes International Limited, developers and promoters of the popular Amen Estate in Ibeju Lekki, Lagos State.
Both candidates have impressive qualities any one can boast, thus, the election is expected to be keenly contested.
The election may also be a direct pointer to possible outcome of the 2023 general elections. This means, if PDP should win the election, APC may need to go extra miles to retain the state come 2023.
On the other hand, a win for APC means a further political consolidation, for the ruling party to maintain its stronghold in Lagos State and beyond.
Whichever way, the coming days are expected to witness flamboyant and robust electioneering campaigns, leading to the October 31 by-election in Lagos East Senatorial District, in a bid to succeed Adebayo Osinowo (aka Peperito) who died of Coronavirus (COVID-19) on June 15, 2020.
After spending 16 months reviewing data from various the International Oil Companies (IOCs), Kariya Energy Monday announced its readiness to enter into various definitive agreement to acquire upstream and midstream oil and gas assets in African countries.
Kariya Energy would pursue profitable small-scale Liquefied Natural Gas (LNG) projects across Africa, a niche that its leadership has been skilful in building and making it profitable and scalable, boasting significant potential across the African market.
With its technology, the company could turn around African small-scale LNG and work with partners in addressing off-grid power generation for industrial and residential needs in remote locations and deal with issues around energy poverty.
Kariya Energy’s technical and financial strength puts it in a position to bring Canadian and American ingenuity into the growing oil and natural gas market in Africa.
The company and its management team’s engagements and experience with various deep and shallow water projects in Mozambique, Nigeria, Senegal, Congo DRC, Congo Republic and Gabon makes these countries great investment possibilities.
It would be pursuing acquisitions of various exploration and development plays either through farm-in deals or operatorship through risk service contracts, or direct negotiations with sovereign governments.
Kariya Energy would continue with its current and ongoing support by providing technical, financial, and operational support for oil and gas companies currently operating in Nigeria, Congo and Gabon.
The firm’s strategy has focused on the innovation and evaluation of new opportunities for resource extraction with great technology that has produced results.
File Photo: President Buhari in Virtual Meeting with APC Governors in State House on 28th July 2020. Photo: Femi Adesina.
President Muhammadu Buhari Monday attempted to justify the new prices of petrol and electricity, describing the timing of implementation of both tariffs as a mere coincidence.
Speaking at the First Year Ministerial Performance Review Retreat at the State House Conference Centre in Abuja, the President said increase in price of electricity and deregulation of the petroleum sector were crucial decisions that were taken at the beginning of the year, preceding the novel Coronavirus (COVID-19) pandemic.
He described the continuous delay in implementation of the policy of the “Willing Buyer, Willing Seller” and deregulation of the petroleum as detrimental to the economy, placing the burden of regular light cuts and fuel queues on Nigerians.
Buhari, whose speech was read at the event by Vice President Yemi Osinbajo, assured Nigerians of the willingness and determination of the Federal Government to provide stable electricity to every home and industry, while considering the economic challenges before individuals, families and businesses, explaining that “implementation of a Willing buyer, Willing Seller Policy for the power sector has opened opportunities for increased delivery of electricity.”
He added that the target of providing 11,000 megawatts by 2023 was realistic and realisable, and would provide a lifeline for many businesses and improve the living conditions of many Nigerians.
“Implementation of a Willing Buyer, Willing Seller Policy for the power sector, has opened up opportunities for increased delivery of electricity to homes and industries. We are also executing some critical projects through the Transmission, Rehabilitation and Expansion Programme, which will result in the transmission and distribution of a total of 11,000 Megawatts by 2023.
“On transportation, we are growing the stock and quality of our road, rail, air and water transport infrastructure. The Presidential Infrastructure Development Fund projects are also progressing very well. These include the 11.9 km Second Niger Bridge, 120 km Lagos-Ibadan Expressway, and 375 km Abuja-Kaduna-Zaria-Kano Expressway. At the same time, we are actively extending and upgrading our railway networks, as well as our airports which are being raised to international standard with the provision of necessary equipment, to guarantee world class safety standard,” he said.
The President said the COVID-19 pandemic led to severe downturn in the funds available to finance the nation’s budget.
According to him, “One of the steps we took at the beginning of the crisis in March when oil prices collapsed at the height of the global lockdown, was the deregulation of the price of Premium Motor Spirit (PMS) such that the benefit of lower prices at that time was passed to consumers.
“This was welcome by all and sundry. The effect of deregulation though is that PMS prices will change with changes in global oil prices. This means quite regrettably that as oil prices recover we would see some increases in PMS prices. This is what has happened now. When global prices rose, it meant that the price of petrol locally would go up.
“There are several negative consequences if Government should even attempt to go back to the business of fixing or subsidizing PMS prices. First of all, it would mean a return to the costly subsidy regime. Today we have 60 per cent less revenues, we just cannot afford the cost. The second danger is the potential return of fuel queues – which has, thankfully, become a thing of the past under this administration.
“Nigerians no longer have to endure long queues just to buy petrol, often at highly inflated prices. Also, as I hinted earlier, there is no provision for fuel subsidy in the revised 2020 budget, simply because we are not able to afford it, if reasonable provisions must be made for health, education and other social services. We now simply have no choice.
“Nevertheless, I want to assure our compatriots that Government is extremely mindful of the pains that higher prices mean at this time, and we do not take the sacrifices that all Nigerians have to make for granted. We will continue to seek ways and means of cushioning pains especially for the most vulnerable in our midst. We will also remain alert to our responsibilities to ensure that marketers do not exploit citizens by raising pump price arbitrarily.
“This is the role that government must now play through the Petroleum Products Pricing Regulatory Agency (PPPRA). This explains why the PPPRA made the announcement a few days ago setting the range of price that must not be exceeded by marketers. The advantage we now have is that anyone can bring in petroleum products and compete with marketers, that way the price of petrol will be keep coming down.”
On electricity, the President added that the recent service-based tariff adjustment by the DisCos had also been a source of concern for the government.
“Let me say frankly that like many Nigerians I have been very unhappy about the quality of service given by the DisCos, but there are many constraints including poor transmission capacity and distribution capacity. I have already signed off on the first phase of the Siemens project to address many of these issues.
“Because of the problems with the privatisation exercise, government has had to keep supporting the largely privatised electricity industry. So far to keep the industry going we have spent almost 1.7 trillion, especially by way of supplementing tariffs shortfalls. We do not have the resources at this point to continue in this way and it will be grossly irresponsible to borrow to subsidise a generation and distribution which are both privatised.
“But we also have a duty to ensure that the large majority of those who cannot afford to pay cost reflective tariffs are protected from increases. NERC, the industry regulator, therefore approved that tariff adjustments had to be made but only on the basis of guaranteed improvement in service. Under this new arrangement only customers who are guaranteed a minimum of 12 hours of power and above can have their tariffs adjusted. Those who get less than 12 hours supply, or the Band D and E Customers MUST be maintained on lifeline tariffs, meaning that they will experience no increase.
“Government has also taken notice of the complaints about arbitrary estimated billing. Accordingly, a mass metering program is being undertaken to provide meters for over five million Nigerians, largely driven by preferred procurement from local manufacturers – creating thousands of jobs in the process. NERC has also committed to strictly enforcing the capping regulation which will ensure that unmetered customers are not charged beyond the metered customers in their neighbourhood,” he noted.
On the timing of implementation, the President said: “There has been some concern expressed about the timing of these two necessary adjustments. It is important to stress that it is a mere coincidence in the sense that the deregulation of PMS prices happened quite some time ago, it was announced on 18 March 2020 and the price moderation that took place at the beginning of this month was just part of the on-going monthly adjustments to global crude oil prices.
“Similarly, the review of service-based electricity tariffs was scheduled to start at the beginning of July but was put on hold to enable further studies and proper arrangements to be made. This government is not insensitive to the current economic difficulties our people are going through and the very tough economic situation we face as a nation, and we certainly will not inflict hardship on our people.
“But we are convinced that if we stay focused on our plans, brighter, more prosperous days will come soon. Ministers and senior officials must accordingly ensure the vigorous and prompt implementation of the ESP programmes, which will give succour to Nigerians.”
Buhari, in a statement by his Special Adviser on Media and Publicity, Femi Adesina, pointed out that many Nigerians were yet to be connected to electricity, assuring that the Economic Sustainability Plan would provide solar home systems to five million Nigerian households in the next 12 months.
“We have already begun the process of providing financing support through the CBN for manufacturers and retailers of Off Grid Solar Home Systems and Mini-Grids who are to provide the systems. The Five million systems under the ESP’s Solar Power Strategy will produce 250,000 jobs and impact up to 25 million beneficiaries through the installation. This means that more Nigerians will have access to electricity via a reliable and sustainable solar system.
“The support to Solar Home System manufacturers and the bulk procurement of local meters will create over 300,000 local jobs while ensuring that we set Nigeria on a path to full electrification. The tariff review is not about the increase, which will only affect the top electricity consumers, but establishing a system which will definitely lead to improved service for all at a fair and reasonable price.”
He said the economy recovered from a recession and witnessed eleven quarters of consecutive GDP growth before COVID-19 pandemic, admonishing ministers and senior government officials to stay focused on delivering results that would improve the welfare of Nigerians.
The President said the government has continued to support the agricultural sector, the key to diversification of the economy, through schemes such as the CBN Anchor Borrowers Programme and the Presidential Fertiliser Initiative programme.
On security, Buhari said: “Nigeria’s Law Enforcement Agencies have significantly scaled up their footprint across the country. As part of the efforts towards strengthening our internal security architecture, the Ministry of Police Affairs was created.
“Amongst others, we have increased investments in arms, weapons and other necessary equipment, expanded the National Command and Control Centre to 19 states of the federation, and established a Nigerian Police Trust Fund, which will significantly improve funding for the Nigeria Police Force.
“We have also approved the sum of N13.3 billion for the take-off of the Community Policing initiative across the country, as part of measures adopted to consolidate efforts.”
Nigerian doctors in state-owned hospitals have begun an indefinite strike to drive home their demand for pay rise, improved welfare and adequate facilities.
The industrial action by the National Association of Resident Doctors (NARD), which began on Monday was confirmed by the group’s President, Aliyu Sokomba, who spoke to AFP.
National Association of Resident Doctors (NARD), President, Aliyu Sokomba speaks on “long-standing” issues leading to latest strike action. Photo- Channels TV.
As the nation struggles to curb the spread of coronavirus, the action of NARD, representing about 40% of doctors in Nigeria, will be the latest in a string of recent down-tool protest by doctors.
Sokomba, confirmimg that medics treating virus cases would join the strike action said: “There will be no exemptions.”
He reiterated that the provision of life insurance, a pay rise, payment of salary arrears as well as provision of adequate facilities for doctors as long-standing issues that have necessitated the strike action.
“We have arrears of 2014, 2015, 2016, salary shortfalls that were supposed to have been paid over six years ago, still pending.
“These are the issues we have and they appear not to have been addressed up till this day,” he said.
The NARD President, while lamenting the incessant strike actions by doctors occasioned by underfunding said the only condition for calling off the strike is when the Union’s demands were met, emphasising that “It is an indefinite strike”.
With over 55,000 Covid-19 cases recorded and 1,057 deaths, there are fears that healthcare capacity could severely hamper efforts towards tackling the spread and treatment of coronavirus across the country if this latest strike action persists.
Three months ago, when NARD staged a week-long strike over welfare and inadequate protective kits, doctors treating virus cases however remained on the job.
The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) says full deregulation will enhance national economic growth, while it also urged the Federal Government to take a further step towards full deregulation of the downstream sector.
The Chairman of DAPPMAN, Winifred Akpani, who comended government for its consistency in seeking ways to reposition the oil sector for effectiveness and profitability said, the association is in full support of the implementation of a fully deregulated regime which would make the downstream sector operations more seamless, enhance transparency, competitiveness and sustainable growth.
“DAPPMAN is mindful of the commitment of the government and the functional organs managing the sector to ensuring value to every Nigerian, and we salute them for this as we are indeed up against uncertain times. However, we believe that full deregulation of the sector remains the most viable option for Nigeria to effectively navigate this period and ultimately safeguard the future of our economy and wellbeing of 200 million Nigerians,” she said.
The association’s Chairman noted that deregulation will open up the sector for fresh investments, market deepening, diversification, and expansion.
She added that these will bring about stable demand and supply regimes that are critical to ensuring that consumers have uninterrupted access to affordable quality products without the huge financial burden currently borne by government.
“DAPPMAN is aware of the considerations that have dogged the issue of deregulation over the years and we believe they are very important.
“However, we believe these considerations will be duly addressed with a deregulation regime that guarantees long-term benefits and empowers the government to commit savings made in the process to infrastructure development, job creation, agricultural revolution, education and health.
“This will spur growth of Small and Medium scale Enterprises (SMEs) as well as large corporates, that would increase Nigeria’s human capacity index, competitiveness and ultimately drive inflow of foreign investments,” she added.
Akpani, who is also the managing director and chief executive officer of Northwest Petroleum and Gas Company Limited, recounted the response of DAPPMAN to the COVID-19 pandemic by contributing towards the upgrade of medical facilities, distributing thousands of face masks and sanitizers, and donating relief items to thousands of beneficiaries across the country.
“It has been a privilege for DAPPMAN to reach out to the vulnerable at this time through the association’s intervention projects and the individual efforts of our members. We continue to urge the good people of Nigeria to stay safe by strictly observing all precautionary measures to stop the spread of the virus. We will certainly overcome the pandemic working together,” she said.
The Federal Government had In March 2020 introduced a price modulation policy where international product prices and associated landing costs in Nigeria are used as input in the determination of final pricing in the local market through the Petroleum Products Pricing and Regulatory Agency (PPPRA).
President Muhammadu Buhari has warmly congratulated former Chairman of Nestle Nigeria Plc, Olusegun Oladipo Osunkeye, CON, on his 80th birthday which would come up tomorrow, September 7.
The President joined family, friends and professional colleagues to celebrate Osunkeye, describing him as an “outstanding manager, administrator and board room guru, who has left an indelible mark on the corporate world.”
Buhari felicitated with Osunkeye on the auspicious occasion of reflections and thanksgiving, “heralded by years of service to the nation and humanity, which attracted multiple recognitions at home and abroad, including Award for Excellence in Christian Stewardship as Benevolent Partner by Church of Nigeria Anglican Communion.”
The President noted, with appreciation, “choices made by the astute administrator to favour Nigeria on investments, encouragement of local content, which led to huge expansions in agriculture, and creation of employment for a large number of people as Managing Director/Chief Executive Officer of Nestle Nigeria Plc; Chairman, GlaxoSmithKline Consumer Nigeria; Chairman Lafarge Plc; Chairman, International Chamber of Commerce Nigeria and President Society for Corporate Governance, Nigeria.”
As Osunkeye turns 80 tomorrow, Buhari said “his contributions to development of education in Nigeria, and efforts to improve the pharmaceutical and medical institutions in the country will continue to stand out, particularly his focus on giving opportunities to the poor and underprivileged.”
The President, in a statement by his Special Adviser on Media and Publicity, Femi Adesina prayed God to continue to bless the former Chairman of Nestle with longer life and good health to keep serving the nation.
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