Total Assets up by 37.2% to N28.3 trillion
Customer Deposits hits N23.2 trillion, climbs 34%
Makes Profit Before Tax of N401.6bn
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[L-R] Afolabi Lawal, Chief Financial Officer, Prudential Zenith; Emmanuel Aryee Mokobi, Chief Executive Officer, Prudential Africa; Nashiba Nalubega, Regional Communications Manager, Prudential Africa; and Nick Holder, Deputy Chief Executive Officer, Prudential Africa at the announcement of Prudential PLCs’ acquisition of the remaining 49% shares in Prudential Zenith Life Insurance.
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The Academic Staff Union of Universities, ASUU has handed the Federal Government a fresh 14-day ultimatum, to resolve pending issues.
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United Bank of Africa (UBA) has solidified its position as a leading financial institution, not just in Nigeria, but across the African continent and beyond. |
... You cannot love God and not keep his Commandments... Okafor.
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Nigerian equity market gained N607bn in market capitalisation in the past week, on the back of buying interest in large-cap stocks like Access Corporation and MTN Nigeria.
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To this end, there will be an interactive session with the media, aimed at showcasing this pivotal partnership to enhance the manufacturing sector and boosting investor confidence in Ogun State, as a leading industrial hub in the West Africa corridor.
Special Adviser/DDG of OgunInvest, Ms Sola Arobieke, made these known in a statement on Tuesday, adding that Manufacturing Africa Programme plays a crucial role in supporting industrial development and innovation across Africa, while FCDO is committed to advancing manufacturing capabilities and promoting sustainable practices.
She added that the proposed collaboration would leverage the FCDO’s expertise in market studies and corporate finance support to foster a robust manufacturing ecosystem in Ogun State and Nigeria at large.
According to her, Manufacturing Africa Program’s involvement in this initiative underscores its dedication to enhancing Africa’s industrial sector, creating high-quality jobs, and driving technological advancements.
Also, she described Hinckley E-Waste Recycling Ltd, as a pioneering leader in electronic waste management, as the company specializes in the safe and efficient recycling of electronic waste, employing advanced technologies and sustainable practices to manage e-waste responsibly, adding that their innovative approach not only supports environmental conservation but also promotes best practices in electronic waste management across Nigeria.
"Hinckley Recycling became the first government approved E-Waste recycler in Nigeria in 2016. The company is now expanding its operations to Ogun State with a groundbreaking project to establish the first lithium-ion and lead acid battery recycling and treatment plant in Africa. This $5 million investment in the first year will utilize patented recycling technology and create 100 direct jobs. The project is supported by a market study and corporate finance assistance from Manufacturing Africa.
"On our own, Ogun State Investment Promotion and Facilitation Agency (OgunInvest) is led by His Excellency Prince Dapo Abiodun CON as its Chairman. The agency's vision is to firmly establish Ogun State as the industrial and logistics hub of Nigeria and the preferred investment destination in the region. Its mission is to create an investor-friendly environment that attracts and retains both domestic and international investments, thereby fostering economic growth.
"In line with our mandate to attract and facilitate new investments into Ogun State, OgunInvest is dedicated to enhancing the state's economic growth and promoting it as the premier investment destination in Nigeria. The agency provides comprehensive support services to investors, offering a one-stop solution for investment facilitation. This includes assisting with initial inquiries, providing detailed information on investment opportunities, guiding investors through regulatory requirements, and offering aftercare services to ensure successful investment operations", the statement read.
Arobieke, therefore, listed benefits of the partnership to include:
1.Economic Growth and Job Creation: Ogun State will benefit from the foreign direct investment through FCDO’s Manufacturing Africa initiative, with the creation of 90,000 jobs over seven years in Africa. The partnership with Hinckley will also directly result in the creation of 100 jobs through the establishment of the first lithium-ion and lead acid battery recycling facility in Africa.
2.Technological and Knowledge Transfer: Ogun State’s industrial ecosystem will be elevated by access to UK-patented battery recycling technology developed by Solveteq in collaboration with Imperial College London. This will establish the state as a technological leader in battery recycling across Africa.
3.Environmental and Health Protection: By promoting sustainable e-waste recycling, Ogun State will mitigate environmental pollution and safeguard public health, particularly by preventing lead poisoning and child labor related to unsafe recycling practices.
4.Strengthening Investor Confidence: The partnership showcases Ogun State as an investor-friendly region, solidifying its position as the preferred destination for industrial investments in Nigeria and many more.
Meanwhile,the joint press conference has been slated for Wednesday, September 18th, 2024, at the Olusegun Osoba Press Centre, State Secretariat, Oke-Mosan, Abeokuta, by 4.pm, featuring the Chief Economic Adviser, and Finance Commissioner of Ogun State, Mr. Dapo Okubadejo, Mr. Richard Montgomery CMG, British High Commissioner to Nigeria and the UK Permanent Representative to the Economic Community of West African States (ECOWAS), among others.
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