Connect with us

News

Arewa Youths to Tinubu: Ignore Matawalle’s outburst against Emefiele

Published

on

Arewa Youths to Tinubu: Ignore Matawalle’s outburst against Emefiele

….Commend Emefiele for grounding bandits with Naira redesign policy

The Arewa Youth Assembly has raised an alarm over the call by Governor of Zamfara State, Bello Matawalle, for President Muhammadu Buhari not to approve any study leave for the CBN Governor, Mr. Godwin Emefiele and cautioned President-Elect Bola Ahmed Tinubu from acting against Mr. Emefiele.

In a press statement signed by the Publicity Secretary of the Arewa Youth Assembly, Alhaji Aliyu Sani, the group expressed its displeasure at Governor Matawalle for “believing and acting on a baseless rumour.” The statement by the group noted that a spokesperson in the Office of the President, Mallam Garba Shehu, denied the existence of the imaginary study leave.

The group remarked that instead of the Governor to be afraid of his fate when he leaves office, he is more concerned about the destiny of Mr. Emefiele who is serving Nigerians diligently.

The group challenged Matawalle to make public the number of persons kidnapped in Zamfara State when the Naira was not in excessive circulation and the number kidnapped after the reintroduction of the Naira.

The group accused Matawalle of failing to guarantee the right to life for citizens of the state as provided for in the 1999 Constitution of Nigeria (as amended) in Section 33.

“Your failure to provide security in the state has halted educational activities, with the closure of schools. At least 75 secondary schools in the state are still shut because of security, tagging the state as an educationally backward state. Zamfara state has a total of 61.4% of children out of school, with boys at 57.4% and girls at 66%.”

The group said in contrast to the glaring failure of Matawalle, Emefiele was busy working hard to boost the economy by impacting all sectors through programmes like Anchor Borrowers’ Programme, Commercial Agriculture Credit Scheme, intervention programmes and schemes for MSMEs and manufacturers as well as exporting activities.

“This has helped in increasing revenue generation outside crude oil, thus helping this administration to actualize its diversification agenda, creation of employment, alleviating poverty, and recreating Nigeria’s image before the world,” the statement said.

The youths also noted that the, “Only person seeking to damage the good work President Buhari has done is you, that’s why your people voted for APC in the presidential election but never hesitated to vote you out, because you have failed them. This justifies why you were never voted in the first place.”

The Arewa youths said “while you were busy spending Zamfara people’s money on irrelevant things, Emefiele was busy on Naira redesign, a policy that had the power to stop insecurity, curtailed corruption, and drop the prices of commodity immediately. Conversely, the problems came back in full immediately after cash started flowing, people were no longer safe, and bandits hit Zamfara, Kaduna, Minna, and other parts of the country.”

The statement said, “For this alone, Emefiele should be given a gold medal and celebrated, for he helped President Buhari abide by the constitution that states the security and lives of citizens are paramount.

“All that Emefiele has done are with the blessings of the commander in chief, his activities have been completely transparent and accountable, the records are there, the world is digital, every naira, every kobo is accounted for how it comes in and how it is spent.

“For the record, even if there were requests for study leave, it is legal. The Public Service Rules make ample provision for the training and development of Civil Servants, to enhance the officer’s performance.”

The statement added that, “Study leaves are approved to allow an employee to complete an accredited course of study provided by an overseas educational institution. Study leaves are legal and have been granted before in Nigeria and even in superpower countries of the world. An individual has the right to seek study leave in any part of the world.”

The Youth Assembly called on President-Elect Tinubu to note that the North voted for him when the sound of gunshots from bandits went silent as a result of the Naira redesign policy. “Insecurity is the reason why our people rejected the PDP. We saw a workable solution to our number one problem.”

Arewa Youths caution President – Elect Bola Tinubu against Emefiele

….Commend Emefiele for Naira Redesined Policy which grounds activities of bandits

The attention of Arewa Youth Assembly has been drawn to a press statement attributed to the out-goingGovernor of Zamfara State, Bello Matawalle wherein he was quoted as saying: “If President Muhammadu Buhari has approved study leave for the CBN Governor, Mr. Godwin Emefiele as reported in the media, the President should cancel it in the interest of peaceful transfer of power, accountability, and good governance.”

In a press statement signed by the Publicity Secretary of the Arewa Youth Assembly, Alhaji Aliyu Sani, the group said, “We find it embarrassing that a sitting governor will allow himself to be swayed into believing and acting on a baseless rumour, concocted from the pit of hell, that Mr. Godwin Emefiele has been granted study leave to flee from the country before Asiwaju Bola Ahmed Tinubu is sworn in.”

“The Office of the President, through one of its Spokespersons, Mallam Garba Shehu has denied the existence of the imaginary study leave. When he was asked to react to the trending news he responded as follows: “If the governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has been granted study leave supposedly by President Muhammadu Buhari, this is unknown to us. It is also unknown to the president’s secretariat headed by the Chief of Staff.”

The group remarked that, “Despite this official position by the Presidency, Matawalle decided to believe in the lies released to the public by Sahara Reporters,” adding that, “For Matawalle to swallow every content emanating from the media outfit, it shows that their publications on Zamfara alleging that the Matawalle-led government in Zamfara awarded multi Billion Naira Contracts in Zamfara without following due process wasnot far from the truth.”

The statement said instead of the Governor to be afraid of his fate when he leaves office, he is more concerned about the destiny of Mr. Emefiele who is serving Nigerians diligently.

“We wish to challenge Matawalle to make public the number of persons kidnapped in Zamfara State when the Naira was not in excessive circulation and the reintroduction of the Naira following his pyrrhic victory in Court that forced the CBN to recirculate Naira notes. If he can answer this in public, Nigerians will know who has the solution to the problem of insecurity in the country,” the statement said.

“The Governor that has failed his people and the North in terms of security, education, economy and infrastructural development ought not to be heard discussing the national issue. We are in a country where shameless people are the leaders, they wouldn’t mind exporting their show of shame to the global stage. otherwise, how can a man under whose watch over 200 people were killed in 2022 in just two days, with thousands abducted daily. The same state recorded 703 deaths according to The Cable Index which is the highest in the country, still dares to attack another public servant with an unblemished record.”

The statement added that, “As a governor, you have failed to guarantee the right to life provided for in the 1999 Constitution of Nigeria (as amended) in Section 33 of the1999 constitution as amended, which clearly states that every person has a right to life and Article 3 of the Universal Declaration on Human Right that states everyone has a right to life, liberty, and security.”

“Your failure to provide security in the state has halted educational activities, with the closure of schools. At least 75 secondary schools in the state are still shut because of security, tagging the state as an educationally backward state. Zamfara state has a total of 61.4% of children out of school, with boys at 57.4% and girls at 66%.

“Zamfara is one of the poorest states in the world and the poorest in Nigeria. A report by the National Social Registry stated that Zamfara has the highest number of poor and vulnerable people in Nigeria, with a record of 3,836,484 people from 825,337 households.

“While you couldn’t do anything about the situation of your people, Emefiele was busy working hard, feeding the nation, your people inclusive, boosting the economy by impacting all sectors through various programs Viza viz; Anchor Borrowers’ Programme, Commercial Agriculture Credit Scheme, CBN’s Intervention Programmes and Schemes for MSMEs, CBN’s Intervention Programmes and Schemes for Manufacturing, CBN’s Intervention Programmes and Schemes for Export.

“This has helped in increasing revenue generation outside crude oil, thus helping this administration to actualize its diversification agenda, creation of employment, alleviating poverty, and recreating Nigeria’s image before the world. So yes, President Buhari has had an eventful tenure, and so does Dr. Godwin Emefiele President Buhari’s tenure is eventful because he has people like Emefiele,” the statement said l

The youths also noted that the, “Only person seeking to damage the good work President Buhari has done is you, that’s why your people voted for APC in the presidential election but never hesitated to vote you out, because you have failed them. This justifies why you were never voted in the first place.”

The Arewa youths advised Matawalle to lick his wounds and grief alone, do not drag others into his world of shame, while you were busy spending Zamfara people’s money on irrelevant things, Emefiele was busy on Naira redesign, a policy that had the power to stop insecurity, curtailed corruption, and drop the prices of commodity immediately. Conversely, the problems came back in full immediately after cash started flowing, people were no longer safe, and Bandits hit Zamfara, Kaduna, Minna, and other parts of the country.

For this alone, Emefiele should be given a gold medal and celebrated, for he helped President Buhari abide by the constitution that states the security and lives of citizens are paramount.

The policy was only rejected by people like you because of selfish interest, because of public wealth you have a mass and were looking for a way to hide it.

All that Emefiele has done with the blessings of the commander in chief, his activities have been completely transparent and accountable, the records are there, the world is digital, every naira, every kobo is accounted for how it comes in and how it is spent.

For the record, even if there were requests for study leave, it is legal. The Public Service Rules make ample provision for the training and development of Civil Servants, to enhance the officer’s performance, adding value to the Service, and encourage professionalism in the dispatch of their duties (PSR 100223, PSR 100224, PSR 100225, PSR 100226)

The statement said, “Study leaves are approved to allow an employee to complete an accredited course of study provided by an overseas educational institution. Study leaves are legal and have been granted before in Nigeria and even in superpower countries of the world. An individual has the right to seek study leave in any part of the world.”

It is obvious Governor Matawalle is the one suffering from trauma and shock from the election he lost, instead of grieving in silence alone, he chose to take a last dance of shame by ranting under speculations of the media he has not confirmed to be true or otherwise.

The Youth Assembly also remarked that, “We wish to call on Asiwaju Bola Ahmed Tinubu to note that, the North voted for him when the sound of gunshots from bandits went silent as a result of the Naira redesigned Policy introduced by the CBN. Insecurity is the reason why our people rejected the PDP, we saw a workable solution to our number one problem. If he chose to rally obvious failures like Matawalle around him, we will sadly accept that he has failed before his inauguration and nothing good will be expected from his tenure.

The North has many qualified and respectable persons that will fit into the Presidency of Tinubu, Bellow Matawalle is not part of them.”

Continue Reading

News

Transcorp Group delivers impressive Q1 2024 performance; sustains revenue growth of 173% and PBT of N45 billion

Published

on

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Transnational Corporation Plc (“Transcorp” or the “Group”), Nigeria’s leading, listed conglomerate with investment in the Power, Hospitality, and Energy sectors, has announced impressive Q1 financial results for the period ended March 31, 2024.


In its Q1 2024 unaudited results, Transcorp reported significant year-on-year growth, with revenue rising to N88.6 billion from N32.4 billion in 2023, representing a 173% increase.


The impressive results are largely driven by a remarkable 209% year-on-year revenue growth within the power business, highlighting significant strategic progress as part of Transcorp Group’s implementation of its integrated power strategy.


The hospitality business recorded a 68% year-on-year growth in revenue, driven by an increase in occupancy rate from 75% to 82% compared to the previous year.


The results show substantial growth across all financial indicators, reinforcing its market leadership and strategic positioning.

Highlight of Transcorp Group Results:
• Q1 2024 Revenue was N88.6 billion, a significant increase of 173%, compared to Q1 2023.


• Operating income increased by 479%, from N8.5 billion in Q1 2023 to N49.1 billion in Q1 2024.


• Operating expenses saw an increase of 40% year on year to N8.2 billion in Q1 2024, reflecting the impact of inflation and cost of operations.


• Net finance cost increased by 14% to N3.7 billion in 2024 from N3.2 billion in 2023 due to a slightly higher interest rate review in line with MPR.


• Profit before tax from ordinary business of the Group surged by 1110%, amounting to N34.7 billion in Q1 2024, compared to N2.9 billion in Q1 2023 in the same period last year.


• Profit before tax inclusive of extra ordinary income was N45.7 billion in 2024 compared to N2.9 billion in 2023.


• The Group recorded extra ordinary income of N11 billion during the period from the realised gain from the sale of shares.


• Profit after Tax including the extra ordinary income improved 1832% year-on-year to N35.9 billion in Q1 2024, compared to N1.9 billion in Q1 2023 in the same period last year.


• Earnings per share of the Group was N61.12k in Q1 2024, compared to N2.58k in Q1 2023.


• On the balance sheet, total assets grew by 8.3%, from N530 billion in December 2023 to N574 billion in Q1 2024 due to the increase in operational activities.


• Shareholders’ funds increased by 20% from N187billion in December 2023 to N224 billion at the end of Q1 2024 due to profit accreted to retained earnings.

In response to the results, Dr. Owen D. Omogiafo, President/Group Chief Executive Officer of Transcorp, commented, “Our Q1 2024 results demonstrates Transcorp Group’s resilience and commitment to excellence.

Despite the challenges, we achieved growth across all major indices, focusing on operational efficiency at both our power plants, and maximising opportunities within our hospitality business, showing our ability to adapt and succeed in changing markets.

We will continue to deliver sustainable growth, operational efficiency, and value for our shareholders.”


This robust achievement is a further demonstration of the Group’s strategic focus and effective execution. Transcorp is dedicated to its transformation agenda, emphasising sustained growth and a relentless pursuit of long-term value for shareholders.

About Transnational Corporation Plc (Transcorp Plc)
Transnational Corporation Plc (Transcorp Group) is a leading, listed African conglomerate, with strategic investments in the power, hospitality, and energy sectors. Driven by its mission to improve lives and transform Africa, Transcorp has built a longstanding reputation for sector transformation, operational excellence, and exceptional financial performance, delivering value to its shareholders.
In the power sector, Transcorp’s businesses – Transcorp Power Plc and Transafam Power – provide over 16% of Nigeria’s installed power capacity.

Through its investments in the energy sector including OPL287, Transcorp is developing Nigeria’s domestic energy value chain.

The Group’s listed hospitality business, Transcorp Hotels Plc, owns the iconic Transcorp Hilton Abuja, Nigeria’s flagship hospitality destination, and Aura by Transcorp Hotels, a digital hospitality platform enabling travellers to book accommodation across Africa.

Continue Reading

News

AEDC Partners with Government and Stakeholders to Tackle Power Challenges in Nasarawa and Niger State.

Published

on

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Amid mounting concerns over erratic power supply in Nasarawa State, Abuja Electricity Distribution Plc (AEDC) has reaffirmed its commitment to addressing the electricity challenges facing the region.

Rt. Hon. Danladi Jatau, Speaker of Nasarawa State House of Assembly (middle), alongside Yakubu Suleiman Umar, GM of Nasarawa Electricity Power Agency (fifth left), and Engr. Johnathan Adeyemi, Chief Business Officer of Kogi, Niger, and Nasarawa (KNN) regions (sixth right), and other delegates engaged in a crucial dialogue on electricity service enhancement at the Nasarawa State House of Assembly, Lafia on April 30th, 2024.

Engr. Jonathan Adeyemi, AEDC’s Chief Business Officer for Kogi, Niger, and Nasarawa, represented tye Disco at the Nasarawa State House of Assembly on April 30th, 2024, following its summon by the assembly to address the pressing issues.

Acknowledging the frustrations of residents grappling with inconsistent electricity provision, AEDC assured Niger State’s residents of its proactive measures to ameliorate the situation. Promising increased allocation contingent on national generation improvements, AEDC emphasized its dedication to meeting the energy needs of the community. Engr. Adeyemi also urged residents to embrace the deregulation of prepaid meters to expedite their deployment, thus facilitating more efficient monitoring and management of electricity consumption.

During constructive discussions with representatives from the Nasarawa State House of Assembly, both entities resolved to collaborate towards enhancing customer satisfaction and improved service delivery.

In Niger State, AEDC is working to proactively ensure the safety and security of its personnel and infrastructure. Engr. Samuel Odekina, the Niger State Regional Manager and his team, paid a courtesy visit to key law enforcement officials, including the Commissioner of Police, Niger State, CP Ebenezer Danmamman, and the Commandant of NSCDC Niger State Command, Cmdr. Joachin Okafor, on April 26th, 2024. The aim was to foster a conducive environment for reliable electricity supply by addressing pertinent security concerns.

Through continued dialogue and cooperation among AEDC, government agencies, and customers, there exists a shared determination to surmount challenges and improve the electricity landscape in both Niger and Nasarawa state respectively.

Customers were advised to escalate all electricity-related issues via AEDC’s social media platforms or its offices for technical or commercial support.

Continue Reading

News

Tree4Life Project: NEPL/Seplat JV, Edo Sign Reforestation Agreement

Published

on

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

The NNPC Exploration and Production Ltd/Seplat Energy Joint Venture and the Edo State Government have signed an agreement that will see the state government allocate 6,000 hectares of land from its protected forest reserves to enable a large-scale tree planting initiative by Seplat Energy Plc.

This is in furtherance to the Seplat Tree4Life Initiative and the Edo State Government’s identification of the need to increase forest cover and carbon sequestration efforts within the region.

Seplat Energy has been selected as the partner to implement this reforestation project, which aims to plant millions of indigenous trees on the allocated land over the next five (5) years. This project represents a significant investment in environmental conservation and sustainable development for the state.

Speaking at the agreement signing ceremony, which happened in Edo State Government House, the Managing Director, Seplat West Limited, Seplat Energy, Ayodele Olatunde, said the partnership will contribute in the global efforts around mitigating the effects of climate change, whilst providing economic, social, health and other environmental benefits to the region.

“This will stir more advocacy as far as climate change is concerned and put the Edo State Government with the Seplat JV on the map as change agents. The partnership is well aligned with our Tree4Life Initiative and has the capacity to boost our economy and the environment; advance our soil health and drive carbon capture; preserve our ecosystem; enhance biodiversity; create jobs; conserve our forests; and promote physical and mental wellbeing of our people,” Olatunde said.

The Commissioner for Environment & Sustainability, Edo State, Joshua Omokhodion, said the synergy between Edo State and the Seplat JV is a huge attempt at mitigating the impacts of climate change in Nigeria. “Beyond the economics of this move, the science of it is very important to us because it is an attempt to deliberately create an ambience that will be conducive for humans and other creatures here.”

The Director, External Affairs & Social Performance, Seplat Energy, Chioma Afe, in her address, thanked the Edo State Government for partnering with the NEPL/Seplat JV on this sustainable journey of reforestation.  She said: “This will drive forward our shared goals of environmental conservation and sustainable land use.

“These 6,000 hectares of land being allocated today, we believe, will provide a major boost to efforts at increasing tree cover and also to sequester carbon in our region. We believe also that this will not only tackle climate change, but will promote the local economy as well as local wildlife. The agreement demonstrates the NEPL/Seplat JV strong commitment to supporting impactful environmental projects.

The Managing Director, NEPL, Nicolas Foucart, represented by Mr. Uzoma Ezulu, DM Operations Management Seplat, NEPL, said the partnership between the state government and NEPL/Seplat JV is a laudable response to the global warming crisis. “The world is turning around for the worst; human activities in the name of development have done more harm than good to the environment. The Tree4Life project, therefore, is a conservative effort for all of us,” he said. Teasoo Consulting Limited was also among the facilitators of the agreement signing ceremony.

Continue Reading

Trending

Copyright © 2021 All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from August24news.com
This Website is designed and Managed by: August 24 Communications Nigerian Limited (RC: 798585)