Economy

International Breweries Donates Projects to Ogun, Osun, Oyo Communities

Published

6 years ago

25/01/2019

By Modupe Gbadeyanka

Projects worth millions of Naira were recently handed over to some communities in Ogun, Osun and Oyo States by International Breweries Plc, a member of the world’s largest brewer, ABInBev.

During the commissioning of the projects, Legal and Corporate Affairs Director of International Breweries, Mr Michael Daramola, said the aim of the donations was to positively impact communities and improve their overall wellbeing

The projects were provided for by the brewery giant under its corporate social investment initiatives (CSI) and were completed in the last quarter of 2018.

They were part of the company’s strategic policy of impacting the communities where it operates, especially in the areas where basic amenities are either lacking or inadequate. The projects included solar-powered boreholes, an adequately equipped primary healthcare centre and a sanitary facility.

A newly renovated primary health centre was donated to Esa-Odo community in Osun state along with critical equipment including weighing scales wheelchairs, mattresses, a generator, among other hospital equipment, to facilitate the efficient running of the facility. Ilase-Ijesha community in Ilesha Osun State; Obafemi-Owode and Orile-Imo Logbara communities in Sagamu, Ogun State; and Christian Mission School for the Deaf in Onireke, Ibadan, Oyo state, each received a solar-powered borehole. Omi-Asoro Elementary Primary School, also in Osun State, received a newly built sanitary facility.

“We are here to hand over completed projects as promised. At International Breweries, we strive to impact every community where we operate and make it better than we met it.

“As a result, our projects are designed to be beneficial to the whole community and this is the essence of our give-back policy as encapsulated in our CleanerWorld and BetterWorld programmes, comprising water, health, culture and economic empowerment,” Mr Daramola said at the event.

“We are glad we are able to play our own little role as a business, and hope it will make a difference in the lives of the people, especially women, children and the vulnerable in the society,” he added.

In their remarks, the royal fathers present commended International Breweries for providing the facilities and always responding positively whenever it was called upon by the people.

They urged the organisation not to relent in supporting the efforts of the government in providing basic amenities for those at the grassroots and promised to continue to maintain peaceful and cordial relationships with the organisation.

Speaking on behalf of Obokun East Local Community Development Area, Osun State, the chairman, Mr Omole Ishola, said: “It has always been the government’s plan to equip every health centre and hospital, as well as provide drugs for patients in the state but the plan has always been hampered by lack of funds.

“The intervention of International Breweries, especially as it caters for pregnant women, is a welcome development. We are indeed grateful.”

At the Obafemi Owode Primary Health Centre, Director of Investment, Ministry of Commerce and Industry, Ogun State, Mr Adedayo Somoye what International Breweries had done for the community was very commendable noting that the company has operated in Ogun State for less than a year.

“I enjoin the community to protect this project for the good of everyone. We should also allow International Breweries to grow and make profit before they are bombarded with requests,” Mr Somoye continued. He encouraged a cordial relationship between the community and the brewer.

International Breweries, through its CleanerWord and BetterWorld programmes, has been touching lives in communities across the country and these newly commissioned projects mark the beginning of its 2019 corporate social investment drive, according to the brewer.

Economy

APM Terminals Apapa Records 31.5% Surge in Exports in April

Published

2 hours ago

13/05/2025

Adedapo Adesanya

By Adedapo Adesanya

APM Terminals Apapa has reported a 31.5 per cent increase in export volumes for April 2025, reaching its highest monthly figure since operations began in 2006.

The terminal handled 8,687 twenty-foot equivalent units (TEUs) of export cargo, up from 6,606 TEUs in April 2024.

According to the terminal manager, Mr Steen Knudsen, this underscores a major milestone in Nigeria’s growing export momentum and reflects years of sustained growth and strategic investment in export infrastructure.

“It’s advantageous for Nigerian shippers when ships depart our ports fully loaded with exports. Preventing ships from leaving empty positively influences the overall cost of shipments into Nigeria,” he said.

Mr Knudsen attributed the growth to targeted operational improvements and alignment with national economic priorities.

“Our aim aligns with the Federal Government’s vision of transforming Nigeria into an export-driven economy. To support this, we launched a new rail service in February to expedite the movement of goods from the hinterland to Apapa port,” he revealed.

“We’ve expanded our yard capacity for exports and introduced dedicated truck lanes to streamline the process, reducing the time exports spend in the terminal and ensuring timely ship departures,” he added.

Mr Knudsen praised top agencies including Nigerian Ports Authority (NPA) and Nigerian Railway Corporation (NRC) for their support in enabling the terminal to focus on delivering top-tier services to its customers.

Since acquiring the Apapa concession, the company has made significant capital investments to boost capacity, efficiency, and overall terminal productivity.

In the last four years, APM Terminals Apapa has recorded a steady rise in export volumes. In 2022, the terminal handled 53,807 TEUs of exports. This number rose to 70,432 TEUs in 2023 and 77,631 TEUs in 2024.

As Nigeria’s largest container terminal and a subsidiary of the A.P. Moller Maersk Group, APM Terminals Apapa continues to play a central role in the modernization and expansion of the country’s maritime logistics network.

Economy

Tinubu’s Aide on Entrepreneurship Development Lauds Legend Internet NGX Listing

Published

3 hours ago

13/05/2025

Aduragbemi Omiyale

By Aduragbemi Omiyale

President Bola Tinubu’s Senior Special Assistant on Entrepreneurship Development in Communications, Innovation and Digital Economy, Ms. Chalya Shagaya, has commended Legend Internet Plc for listing its shares on the Nigerian Exchange (NGX) Limited.

Last month, the internet service provider (ISP) listed about two billion stocks valued at N12.4 billion on the local bourse, becoming the first indefinite telecom operator in Nigeria to do so, reflects strong investor confidence in nation’s digital economy.

Speaking during a visit to the headquarters of the organisation, Ms Shagaya praised the team led by Mr Bruce Ayonote for the achievement.

“The listing of Legend Internet Plc is not just a corporate achievement, it is a national win. It sends a powerful message to indigenous digital and tech companies that the capital markets are within reach,” Ms Shagaya stated.

The President’s aide further highlighted the alignment of this success with the Renewed Hope Agenda of her boss, emphasising the administration’s dedication to building a business-friendly environment driven by digital transformation and inclusive economic growth.

She also applauded the tech firm for its inclusivity efforts, noting that the majority of its executive and senior members of staff are women, describing this as a progressive example of gender representation in leadership, which aligns with national goals for women’s inclusion in economic development.

Ms Shagaya expressed her readiness to support Legend Internet and its affiliate company, Suburban, in future initiatives, including expansion of digital infrastructure, innovation policy development, and capacity building programs for entrepreneurs.

She also stressed the ripple effect such achievements could have on the broader ecosystem, from enhancing local content development and broadband access to creating jobs and fostering innovation, encouraging the organisation to further engage in mentorship, tech training, and entrepreneurship support initiatives.

“Legend Internet’s story is one of vision, resilience, leadership, and inclusivity. It is the kind of story this administration is proud to champion and we look forward to partnering with more companies that are pushing the boundaries of what is possible,” she stated.

Economy

NASD Bourse Soars 0.64% to N1.947trn

Published

6 hours ago

13/05/2025

Adedapo Adesanya

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange recorded a 0.64 per cent increase on Monday, May 12, with its total value rising by N12.46 billion to N1.947 trillion from the N1.935 trillion quoted at the preceding session, as the NASD Unlisted Security Index (NSI) went up by 21.28 points to 3,326.06 points from 3,3204.74 points.

The expansion recorded during the first trading session of the week was influenced by price appreciation in the shares of three companies admitted to the platform.

Central Securities Clearing System (CSCS) went up by N2.25 to trade at N24.85 per unit versus last Friday’s N22.60 per unit, FrieslandCampina Wamco Nigeria Plc improved its value by 40 Kobo to settle at N40.43 per share from the previous closing value of N40.03, per share, and Geo-Fluids Plc added 10 Kobo to end at N1.91 per unit, on contrast to the preceding session’s N1.81 per unit.

During the trading day, the volume of shares bought and sold by the market participants decreased by 99.7 per cent to 673,233 units from the 231.6 million units traded in the previous trading day, the value of securities transacted by investors moderated by 98.9 per cent to N6.3 million from N606.4 million, and the number of deals retreated by 38.6 per cent to 35 deals from 57 deals.

When trading activities finished for the day, the most active stock by volume on a year-to-date basis remained Impresit Bakolori Plc with a turnover of 534.0 million units worth N521.1 million, followed by Geo-Fluids Plc with 266.4 million units valued at N470.5 million, and Okitipupa Plc with 153.6 million units sold for N4.9 billion.

The most traded stock by value on a year-to-date basis also remained Okitipupa Plc with the sale of 153.6 million units for N4.9 billion, trailed by FrieslandCampina Wamco Nigeria Plc with 20.0 million units valued at N768.5 million, and Impresit Bakolori Plc with a turnover of 534.0 million units worth N521.1 million.