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UNILAG VC Lauds Ecobank, To partner On Entrepreneurship, Youth Development Initiatives

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The Vice Chancellor, University of Lagos, ProfessorOluwatoyin Ogundipe has commended Ecobank for its consistent support for the promotion of entrepreneurship among students and youths across the country. The Vice Chancellor who was speaking while receiving Ecobank Management in his officeahead of the Investment Society, Unilag Colloquium, said that the University will  collaborate with the Bank on such initiatives, stressing that partnership between operators in the financial sector and the academia in raising budding entrepreneurs will bring the much-needed development of the nation’s economy.

In particular, Professor  Ogundipe lauded Ecobank for partnering with The Investment Society – Unilag, an association set up by some undergraduate students of the school to share and expand their knowledge of finance and consulting towards entrepreneurship. He noted  that such support was  in tandem with  the vision of the  academia to raise self-reliant graduates rather than job seekers.  He announced that a University of Lagos Economic Summit has also been planned in this direction.

“We are glad to have you and your team here. Your financial support and physical presence in this Colloquium are clear indications that you are interested in building young entrepreneurs which also aligns with our vision as a university. Ecobank has been our good partner. We appreciate your support on some of our various programmes over the years. This is also an opportunity to seek your partnership for our up-coming Economic Summit and NUGA games. We seek stronger ties in this direction of raising young entrepreneurs,” he said.

Professor Ogundipe who reeled out some achievements of the institution, stated that only recently two of their lecturers won a combined sum of £1.2m (over N485m) as a research grant for the development of integrated solutions that would maximise employment opportunities and enhance the future of work in Africa.

In his response, Managing Director, Ecobank Nigeria, Patrick Akinwuntan, restated the commitment of the Bank to partner with tertiary institutions in the country oninitiatives that would enhance and promote entrepreneurship, scholarship and conducive learning environment  across the country. He assured that Ecobank will partner the University of Lagos on its planned Economic Summit and other initiatives that would widen the students’ entrepreneurial scope.

Mr. Akinwuntan reiterated that Ecobank  as a Group is committed to contributing to the economic development and financial integration of Africa, noting that Ecobank offers a natural advantage with its unmatched pan-African banking competencies, built up over the last 25 years. “We are marshalling our impressively broad presence, our proficiency and our performance to support Africa’s development.  We will continue to play a pivotal role as a pioneer in financial integration and inclusive banking in Arica. Weoperate in 36 countries in Africa with representative offices in Paris, Beijing, Dubai, Johannesburg and London”.

Further he said  “we have made many pioneering achievements, many “firsts’ across various products and platforms in the Nigeria. We are the first to issue an international credit card in Nigeria – Ecobank MasterCard in 2004;  pioneers in mobile banking with USSD *326#; first to offer QR code scan and pay (EcobankPay) which accepts payments from other platforms – mVisa, Masterpass and mCash; first to offer instant cards and so on. We have several youth friendly products and array of digital offerings that offer payment and transaction solutions.”

In his address at the Colloquium, Akinwuntan commended the students for coming together to form an association that would prepare them for the future in finance, investment and entrepreneurship, stating that Ecobank as a youth friendly Bank was committed to helping them achieve their goals and aspirations.

Akinwuntan, who was the Chairman of the event further advised the students to have set out goals and map out steps to actualizing them. “As a Bank, we set out to support you because we believe in your vision and are prepared to assist you achieve it. As the future leaders of tomorrow, I challenge you to be innovative, resilient, be dedicated to your goals. You must have self-belief , the right mindset and be ready to dare to achieve the right results.”

President, the Investment Society – Unilag, Timileyin Idowu said the Colloquium is organized to provide a holistic platform for the smooth exchange of ideas amongst established and widely renowned professionals who have vast knowledge and experience in the investment and finance industry and the students.

While commending Ecobank and other sponsors of the event, she explained that the choice of the theme: ‘Driving investment in Africa through innovation and leadership’ and selection of facilitators are targeted at exploring how innovation and right leadership can attract investment to Africa and Nigeria in particular.

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BUA DENIES INCREASE IN THE PRICE OF ITS CEMENT, FROWNS AT CARTEL- LIKE OPERATION TO DETERMINE PRODUCT PRICES

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Cement

The BUA group has denied increase in the price of it’s cement. The clarification came as a result of requests from customers as well as distributors who have been calling to find out whether, like DANGOTE Cement BUA had also increased its own price by 260 Naira.

 

In a signed statement released this afternoon, the BUA group insists that it stands by its earlier decision not to increase cement price which was communicated on April 24, 2021.

 

According to the management of BUA, they are aware that Dangote decided to increase the price of it’s cement by 260 NAIRA from June 14, 2021. The management also noted that even though there had been decline in cement demand due to commencement of rainy season, any further increase in price will disrupt, the normalisation or stabilisation  of prices.

 

 

The BUA group further stated that they will always be willing to play their role as a responsible corporate entity rather than associate with others to form a cartel to fix prices which will ultimately not be in the best interest of Nigerians.

 

 

In their words, ‘ The timing is not right for any increase on BUA’s part and we do not have any justifiable business reason to increase to increase our prices any time soon.

 

 

They also hope that the price increase by Dangote will not disrupt the downward trend of cement price movement

See statement

 

Cement

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Dangote $2 Billion Urea Fertilizer Plant Pushes Out 120 Trucks Everyday..… Excites marketers, farmers in North 

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DANGOTE

After months of speculations, Dangote Urea fertilizer is now finally on sales nationwide and it currently pushes out a minimum of 120 trucks per day across the country

 

Group Executive Director, (Strategy, Capital Projects & Portfolio Development) · Dangote Industries Limited,  Devakumar  Edwin, revealed to the press over the weekend that the Plant which has the capacity to turn out more than 4,500 tonnes of urea per day will conveniently meet the local demand and even produce for exports.

 

According to him: “…We have the capacity to turn out 4,500 tonnes of Urea everyday…this is a bulk application fertilizer…each crop in Nigeria or globally will require Nitrogen and this is a rich fertilizer, having 46 per cent nitrogen…The company has the capacity to meet local demand and also export to African countries… Currently the demand is less than 1 million tonnes and we alone can  produce 3 million tonnes, so we can easily meet local demand and also produce for export to other west African countries.”

 

DANGOTE

 

Aside fertilizer production, the company, according to Edwin is already working to support the farmers with training on application of the fertilizer and even establish laboratories across the country for proper soil examination.\

 

DANGOTE

“The uniqueness of this plant, apart from the fact that we are producing is the focus on farmers’ support, on training, education, development as we are now establishing laboratories across the country and even mobile laboratories where we can go drive around and take soil samples for proper examination to effectively grow the agricultural outputs across the country”

DANGOTE

 

The Urea Fertilizer plant was built to tap into Nigeria’s demand for fertilizer, a critical component of achieving food sufficiency for Africa’s most populous country.

 

 

The Fertilizer plant is expected to manufacture 3 million metric tonnes of urea per annum, with a view to reducing the nation’s fertilizer imports, and generating $400m annual foreign exchange from export to Africa countries.

 

Meanwhile marketers and farmers in Kano have described the newly introduced Dangote Fertilizer as a game changer and a forecast for the expected agricultural revolution in the country.

DANGOTE

 

Marketers and farmers who were apparently excited, over the weekend welcomed the more-than ten trucks that entered Kano markets at the weekend.

 

 

Speaking at the event organized by Dan Hydro Company in Kano to mark the introduction of the fertilizer into the northern market, chairman of the Kano state Agro Dealers Association Alhaji Shuaibu Akarami said agro dealers have confidence in Dangote fertilizer as they have in all his products, adding that as a dealer who spent decades in the business he has discovered that Dangote fertilizer will have no problem penetrating the market in the North.

 

 

“I have checked the product and have found out that it will have no problem penetrating the market. With my experience in agro products, I can authoritatively say the product has met our expectations and that has confirmed the confidence we have in Dangote fertilizer and other sister products of the Dangote Group,” he said.

 

The Dan-Hydro fertilizer Company in Kano which took delivery of the first batch of trucks in Kano said the timing and strategy for the introduction are rife.

 

Head of operations, Dan- Hydro operations Mr. Hamadi Sekou Drammeh said the Dangote fertilizer conforms to all set standard required by the regulatory agencies.

 

He said the phenomenon of perennial shortage of the fertilizer product will be over in the country.

He said as part of its public enlightenment plan, the company was going to work with all stakeholders in the agricultural sectors.

In the same vein, Sales Manager of Dan Hydro Mr. Sulaiman Tanko assured that the product will be sold at a reasonable price that will enable fair competition in the market. 

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Jumia Marks 9th Anniversary with 60% discount, partners Unilever, Xiaomi, Nivea

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Anniversary

Nigeria’s leading e-commerce platform, Jumia, is celebrating nine years of e-commerce journey with a sales campaign aimed at celebrating customers, sellers, and partners on its platform. The campaign will run from June 11th until 27th, 2021.

Jumia’s 9th anniversary which also doubles as the anniversary of e-commerce in Nigeria, since the e-commerce giant paved the way for online shopping, is offering 60% discount in a sales campaign tagged “Celebrating You”, aimed at celebrating new and loyal consumers. The discount will apply to categories such as Electronics, Beauty, Fashion, Phones & Tablets, Groceries, Appliances and many more.

Partners for this campaign include over 11,000 sellers on the Jumia Nigeria platform and international brands such as Unilever, Xiaomi, Nivea, Reckitt Benkisser and Infinix.

Jumia Nigeria CEO, Massimiliano Spalazzi said: “It has simply been an amazing journey. If I went back to how we started and where we are, being the number one e-commerce company in Africa and in Nigeria, it makes us very humble. We believe that e-commerce has played an even more important role in people’s life and to celebrate the achievement and to better serve our consumers and sellers, that is why the slogan for our 9th anniversary is ‘Celebrating You’.”

For the anniversary window, customers will enjoy up to 60% off on a diverse list of brands across categories including Groceries (Unilever, Nestle, Coca-Cola, Carrefour), Sanitary & Hygiene (Reckitt Benckiser, P&G, Henkel, GSK), Beauty (l’Oreal, Maybelline, Garnier, Nivea), Phones (Samsung, Xiaomi, Nokia, Huawei), Electronics (Intel, HP, Philips, Sony), lifestyle (Playstation 4) and many more.

“The anniversary will be celebrating you as our consumer, employee, seller, logistics partner, celebrating you as our client and those in the ecosystem and our environment for which we make life better every day,” Spalazzi added.

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