@NIES 2025: NLNG commits to cutting carbon emission, readies for net-zero future - ITREALMS

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The NLNG has reiterated its focus on reducing carbon emissions to meet evolving market expectations, reports ITREALMS.

This is coming as Africa seeks to harness its vast energy potential to drive economic growth and industrial evolution.

Practical Nigerian Content forum: Shell commits to support indigenous companies - ITREALMS

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Shell companies in Nigeria are among more than 700 oil and gas entities taking part in the 13th edition of the Practical Nigerian Content forum in Yenagoa, where they restated their commitment to the development of Nigerian companies through contract awards and scaling up of expertise. 

The four-day conference with the theme “Deepening the Next Frontier for Nigerian Content Implementation” began today and will see the hosts, Nigerian Content Development and Monitoring Board (NCDMB) and participating companies review progress on the development of Nigerian content pertaining to the implementation of the Nigerian Oil and Gas Industry Development (NOGICD) Act since it was enacted in 2010.

NCC commits to bridging gender divide, Danbatta bags ‘Icon of Digital Revolution Award’ - ITREALMS

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The Nigerian Communications Commission (NCC) has reiterated its unwavering commitment to bridging growing gender-oriented digital divide to accelerate inclusive economic prosperity for all Nigerian citizens.

Executive Vice Chairman of the Commission, Prof. Umar Garba Danbatta who restated this commitment in Lagos at the 2022 Nigerian Women Entrepreneurs and Executives in Tech Summit (WEETS), Thursday, September 15, 2022, where he was conferred with the ‘Icon of Digital Revolution Award’ for his role in stimulating digital connectivity in Nigeria, said promotion of gender equality is a major component of ICT development.

ICRC boss @WES'22: FG commits to infrastructure development via PPP – ITREALMS

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The Federal Government (FG) has acknowledged that the major problem facing the Nigeria’s economy is the lack of adequate infrastructure and expressed total commitment to the development of infrastructure through Public Private Partnerships (PPP).

The Acting Director-General, Infrastructure Concession Regulatory Commission, Mr. J A Michael Ohiani who said this on Wednesday in his keynote address at the WorldStage Economic Summit 2022 #WorldStageEconomicSummit 2022) said the FG commitment was evidenced by the President Muhammadu Buhari’s continuous commitment as provided in the 2021-2025 National Development Plan (NDP) which sought to encourage more private sector participation in National Infrastructure Development.

Mid-year shopping festival: Konga commits to best prices, free delivery - ITREALMS

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The management of Konga, Nigeria’s leading e-commerce giant, has assured customers of best prices across product categories and free Delivery for Lagos, Abuja and Port Harcourt as activities enter halfway stage for the inaugural edition of its Mid-Year Shopping Festival.

Feelers from within Konga indicate that prices have been further discounted to celebrate Nigeria’s Democracy Day – a development that is bound to generate more excitement for shoppers who have been treated to a deluge of mouthwatering discounts and deals since the promotion kicked off.

FG driver commits suicide, jumps into lagoon @3rd Mainland bridge - ITREALMS

ITREALMS:

A driver with the Federal Government (FG) and attached to the Federal Radio Corporation of Nigeria (FRCN) has committed suicide by jumping into the lagoon from the Third Mainland in Lagos, reports ITREALMS.

Information reaching ITREALMS indicated that the driver whose name is withheld had Friday morning jumped off the 3rd Mainland Bridge into the Lagoon.

The body has since been retrieved by the Marine Police and taken to Ebute Ero Police stateion for further steps including depositing same to the nearest morgue.

As at the time of this report over 800,000 are reported to have committed suicide annually.

Ayo Midele/ED ops

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Wema Bank holds AGM, commits to sustainable growth through innovations

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Wema Bank Plc has reaffirmed commitment to sustain financial growth through innovations, reports ITRealms.

The bank made this known at its Annual General Meeting (AGM) in Lagos, during which the financial report for the year ending December 31, 2017 was presented to shareholders.

The Bank used the platform to announce commitment to its attained growth phase, which is the final stage of its restructuring process that started in 2009. The innovative bank, which launched ALAT, Africa’s first fully digital bank, confirmed the growth of its gross earnings by 20.07%, from N54.36 billion in FY2016 to N65.27 billion in FY2017.

According to the Managing Director/ CEO, Mr Segun Oloketuyi, “the growth was supported by the launch of ALAT – Nigeria’s first fully digital Bank, enhancing Wema Bank’s already existing alternate platforms which recorded a combined growth rate of 205.67% in transactions executed and with an estimated 30,000 accounts opened monthly. We have made necessary steps to consolidate on the growth achieved in the new financial year.”

He commended the shareholders for their understanding over the years and for seeing the bank through the first two restructuring phases of the bank.  “I would like to appreciate our esteemed shareholders for their patience and the trust reposed in us. We are now in the final stage of our three-pronged strategy; stabilise the bank (2009 – 2012), reposition the bank (2013-2017) and grow the Bank (2017 and beyond),” he said.

Commenting on the financial year 2017 results, Mr Oloketuyi provided further insights into the performance of the Bank during the period.  “Despite the slow start to the year, 2017 recorded significant progress, highlighted by the introduction of the Investor & Exporters (I&E) window and recovery in oil prices,” he noted.

In October, the Bank held its Extra-Ordinary General Meeting (EGM) towards its proposed Capital Reorganisation Scheme.  The CEO announced that the exercise has been concluded. “With all relevant regulatory approvals in place and duly passed and reflected in the 2017 financial year accounts, the conclusion of the exercise would now lead to an efficient balance sheet, as ploughed back profit can be capitalised to grow the business while positioning the Bank for dividend payment in the near term” he explained.

On plans ahead of the new financial year, he informed the shareholders that “We approached the money market in November 2017 to raise N25 billion in two Series under a commercial paper Program; Series 1 N10 billion – 182-day tenor and Series 2:N15 billion- 270-day tenor. Given the relative decline in interest rates and possible growth within the economy, the Bank will be re-opening the 2nd series of its N50 billion debt issuance program. This should commence from the second quarter of the year.”

 On his part, the Chief Finance Officer, Tunde Mabawonku noted that, the Bank’s earnings from non-interest income remained strong, growing by 24.44% from N9.80 billion in 2016 to N12.19 billion in 2017; surpassing its 2017 guidance of a 19% growth rate.  

The Bank closed with a Profit before Tax (PBT) of N3.01 billion (2016; N3.24 billion), despite reporting an  increase in impairment charges which rose  from N0.42 billion in 2016 to N2.18 billion in 2017.

According to him, “Risk management remains at the core of our operations, as we leverage on our prudent risk management practices and reported a Non-Performing Loan (NPL) ratio of 3.52% (2016; 5.01%) while our Capital Adequacy Ratio (CAR), closed at 14.32% (2016; 11.07%). We remain confident, that the Bank’s credit rating will continue to remain affirmed at investment grade level,” he said.

Ayo Midele/GEE

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Pix: L-R: Oluwole Ajimisinmi,  Company Secretary; Segun  Oloketuyi, MD/CEO; Tina Vukor-Quarshie, Non-Executive Director; Abubakar Lawal, Non-Executive Director, all of Wema Bank at the bank's 2017 Annual General Meeting in Lagos.

Yudala commits to best prices nationwide for black Friday

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As Nigerians look forward to the global celebration of this year’s Black Friday on Friday November 24th 2017, Nigeria’s pioneer online and offline e-commerce company, Yudala has restated its commitment to offer shoppers guaranteed  best prices across its wide range of products online and in all Yudala stores nationwide.

According to Wole Ogundare, Managing Director at Yudala, the company’s commitment to best prices and genuine products cannot be matched anywhere else in the market.

“At Yudala, our motivation is to help You Live Well. This explains our commitment to offering you guaranteed genuine products at the best prices in the market, whether online, offline in the stores or in the open market. For this year’s Black Friday which is being marked officially on Friday November 24th, we have put together a wide assortment of products across various categories including Home Appliances, Computing, Electronics, Mobile phones, Lifestyle/Consumer Goods, Power Solutions, Food, Wines/Spirits, among others.

“We are not only offering you best prices across these product categories but Yudala is a pace-setter, so we are willing to take it even further. For Black Friday, if you find a lower price for a product certified as genuine by the Original Equipment Manufacturer or a lower price than the OEM-approved price for a product we carry, we will refund you the difference.

""This is proof that you can only get the best prices for all your shopping needs from Yudala,” he declared. “All you need to do is visit www.yudala.com or walk into any Yudala Store closest to you to enjoy our best price offerings.”

Plans are also in place to storm two locations in Ajah and Ikotun: Ajah Market beside Alesh Hotel, Ajah Bus Stop and the Roundabout by Conoil at Ikotun on Saturday November 25th for the next leg of the Yudala 11/11-12/12 Mega Black Friday offline neighborhood sales. Through this initiative, the company has given thousands of unreached and under-served Nigerians in various locations a chance to shop genuine products at special prices unmatched in the marketplace.

The excitement expressed by shoppers at previous locations including Festac, Trade Fair at Amuwo-Odofin, Ikorodu and Agege has been massive, with Yudala bringing smiles to the faces of thousands at each venue with special price slashes on a wide range of products.

Last Saturday November 18th, the Yudala 11/11-12/12 neighborhood train stopped at Ita Ilewa, Ikorodu and the Mosalashi Alhaja Market in Agege with two truckloads of products for many eagerly-awaiting shoppers in both locations who wasted no time in taking advantage of the amazing deals in its Mega Black Friday promotion.

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