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PMB Inaugurates Power Project In Ariaria Market

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Eniola Olayemi

 

President Muhammadu Buhari on Tuesday inaugurated the Ariaria Market Independent Power project, Aba in Abia to promote ease of doing business and ensure sustainable and improved economy in Nigeria.

Speaking at the event, Buhari said that the provision of a dedicated power supply to small businesses in the area would strengthen the “Made in Nigeria” program of the Federal Government which Abia had become synonymous with.

The president said that the present administration was committed to evolving sound economic policies and programs which were aimed at boosting national productivity.

He said that the project was a demonstration of the Federal Government resolve to protect the interest of every Nigerian irrespective of party differences and constitutional limitations.

Buhari said that he had been informed that Ariaria International market contained 37,000 shops, which would benefit from the project, adding that 4,000 shops had been connected to the new power supply.

According to him, electricity has no political colour and I was elected to office on the convincing argument my party made about our commitment to security, developing the economy and fighting corruption.

“I am told that in the past, traders in this market only got power supply for four hours a day and paid exorbitantly for it, which consequently affected the viability of many businesses,” he said.

Buhari said that the Federal Government was replicating the power project in Abia, Kano, Lagos and Ibadan, adding that plans were underway to execute similar initiative in 37 federal universities.

He commended Abia Government and the people of the state for their response and support toward the success of the power project in the state.

In his speech, Mr Raji Fashola, the Minister of Power, Works and Housing, said that the project was targeted at making Nigeria a better place.

Fashola said that the policy that facilitated the execution of the power project had provided an avenue for the Federal Government to create an impact that would strengthen small businesses.

He said: “Federal Government approved the Mini-grid policy in 2016 and within one year of assumption in office, what should have been done in 2006 when the Power Sector Reform Act was done.

“There used to be 6,000 generators that used to supply power in the market by an inefficient way.

“So by that policy and their investments they are helping you and Nigeria fulfill the agreement you signed when you signed the Paris Climate Change agreement.”

In her address, Mrs Damilola Ogunbiyi, the Managing Director of Rural Electrification Agency, said that decentralised power was an important part of the power sector reform program.

Ogunbiyi said that the first phase of energising 4,000 shops had been completed, which had boosted the activities of 15,000 small and medium scale enterprises in the market.

She said that a metering system had been installed in each shop to enable consumers pay for what they used which was aimed at giving small businesses an enabling environment to thrive.

In his remark, Mr Nkaginieme Ubani, the Managing Director of Ariaria Market Energy Solutions Limited (AMES), said that AMES had deployed modular environmentally-friendly natural gas fuel generator to power the market.

Ubani said that the project had facilitated the reduction of emissions from the market by over 85 per cent and reduced the ambient noise in the market by over 50 per cent.

In his remarks, Gov. Okezie Ikpeazu of Abia thanked the Federal Government for ensuring the successful execution of the Ariaria Market Independent Power project in the state.

Ikpeazu said that the state government would continue to align with the policies and programs of the federal government to enable small businesses in Abia to thrive.

 

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Access Bank Appoints Uche Orji as Independent Non-Executive Director

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Access Bank Appoints Uche Orji as Independent Non-Executive Director

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Access Holdings Plc (‘the Company’) is pleased to announce the appointment of Mr. Uche Orji as an Independent Non-Executive Director of its flagship subsidiary, Access Bank Plc (‘the Bank’), effective from January 7, 2025, following the approval of the Central Bank of Nigeria (‘CBN’).

This appointment reflects our commitment to enhancing our governance practices and ensuring a diverse and experienced board.

Mr. Orji is a renowned investment banking professional, information technology entrepreneur, and finance expert with three (3) decades of professional and board experience. He is the Co-founder and Partner of Titangate Capital Management, an equity firm that invests in deep-tech, enterprise software, semi-conductors, hardware, and artificial intelligence companies.

He is the Founder and Director of Vitesse Africa Limited, an investment advisory firm focused on African energy, technology and infrastructure sectors. He serves as an Executive Board member and investor in Ultrasafe AI, an artificial intelligence/IT development firm that maintains strategic collaborations with leading technology companies. He also sits on the Board of Private Infrastructure Development Group, London, and chairs the Risk Committee.

Previously, Mr. Orji served as the founding Managing Director and Chief Executive Officer of Nigeria Sovereign Investment Authority. He held positions as Managing Director and Senior Analyst at UBS Securities Limited New York and Managing Director and Head of European Technology/Semiconductor Equity Research at JP Morgan Securities, London. He also served as Executive Director/Portfolio Manager at Goldman Sachs Asset Management, London. Earlier in his career, he was Acting Financial Controller at Diamond Bank Limited and an Audit Trainee at Arthur Andersen & Co.

He holds a Bachelor of Engineering Degree in Chemical Engineering from the University of Port-Harcourt and a Master of Business Administration from Harvard Business School.

Commenting on the appointment, Mr. Paul Usoro, SAN, the Chairman of the Bank said:

“Mr. Orji has been appointed based on his exceptionally rich professional, academic, and corporate board experience which will be invaluable to the Bank as we continue to pursue our strategic objectives.

We are confident that his addition to the Board would further enrich the quality of our decision-making process, enabling us to deliver even greater value to our customers and stakeholders.

His appointment has been made in accordance with the Bank’s internal policies and has been notified to all relevant regulatory authorities underscoring our commitment to upholding the highest standards of corporate governance.

On behalf of the Board, Management and staff, I warmly welcome Mr. Orji to the Board and look forward to his contributions towards our goal of becoming one of the top 5 African Banks in the shortest possible time.”

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Go and List Your Challenges, Lagos Speaker tells NANS Member During Courtesy Visit

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Go and List Your Challenges, Lagos Speaker tells NANS Member During Courtesy Visit

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

The National Association of Nigerian Students (NANS), Lagos State University (LASU) branch, on Friday paid a courtesy visit on the Speaker of the Lagos State House of Assembly, Princess Mojisola Lasbat Meranda.

The student representatives said the visit was to congratulate Meranda over her emergence as Speaker of the State Assembly.

Meranda, an alumnus of LASU, was elected Speaker on January 13 after the removal of Mudashiru Obasa by the lawmakers over issues relating to alleged high-handedness and financial impropriety.

Describing her as a thoroughbred Lagosian, the chairman of NANS, Abdulraheem Azeez, used the opportunity to list some of the challenges faced by students in the university.

According to him, students have had to read in darkness as the Ikeja campus gets less than two hours of power supply daily.

Azeez also raised the need for the State to make available loans for indigent students as well as for the Assembly to provide opportunities for students to witness the plenary of the House.

Meranda, while thanking the students for the visit, urged them to always attend town-hall meetings in their constituencies where they can contribute and make their opinions known.

She further encouraged them to apply for the loans initiated by the government as done by students in other countries.

The Speaker requested the students to formally send their complaints in written forms to the House for action.

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EFCC Tasks Corps Members on Corruption

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AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

EFCC Tasks Corps Members on Corruption

The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ola Olukoyede charge members of the National Youth Service Corps, NYSC, to be change agents and strong resisting force against corruption.

He also enjoined them to be active foot soldiers and whistle-blowers or intelligence-gatherers against corruption.

Speaking on Thursday, January 30, 2025 at the NYSC Orientation Camp, Yikpata, Edu Local Government Area of Kwara State, Olukoyede said It is important for youths to realise that, these roles, if performed creditably, will bring up appreciable growth in the economy of our nation. He said that, “creative energies of youths will be maximised when corruption is brought to its knees.”

The EFCC boss whose address was delivered by the Head, Public Affairs Department, Ilorin Zonal Directorate of the EFCC, Ayodele Babatunde said that most of the problem confronting the country such as kidnapping, banditry, poor infrastructure, among others were connected to corruption. He added that all hands must be on the deck to tame the cankerworm.

Olukoyede encouraged the youths to embrace the virtues of hard work and shun fraudulent practices such as cybercrime noting that, “it’s profitable to earn dignity and fame through hard work and legit business.”

While calling on the youths to channel their potentials productively and shun crime, the EFCC Chair said that, “Yahoo-Yahoo is not a sustainable way of life.”

“There is no shortcut to wealth and fame. The fact that the rate of unemployment is high should not be an excuse to resort to crime. Act of criminality might deliver wealth in the short term but there will be misery and gnashing of teeth”, he said.

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