General
Lagos Replies Doherty, Denies Allegations of Wasteful Spending
By Adedapo Adesanya
The Lagos State Government through the Office of Public Procurement Agency has denied any illegal or wasteful spending in the documents shared by the governorship candidate of the Action Democratic Congress (ADC) in the 2023 elections, Mr Funsho Doherty.
Recall that in a post via his X account on Saturday, the politician cum accountant queried some contract spending as approved by the state’s procurement agency in the second and third quarters of the year including the supply and distribution of 2,000 boiler chicken across the local government areas and wards in the state and another sum of N440,750,000 was awarded to the office of the chief of staff for the procurement of a brand new Lexus LX 600 Bullet Proof Sport Utility Vehicle for use in the Pool of Office of Chief among others.
In the press statement issued by the Director General of the agency, Mr Fatai Idowu Onofowote, Mr Doherty was accused of misrepresenting the facts in the information contained in the documents he posted.
“Our attention has been drawn to recent concerns regarding certain information posted on the Lagos State Public Procurement Agency’s website. Acknowledging the misunderstanding arising from the lack of clarity, we recognise the unintended misinterpretations of this information.
“The agency is committed to ensuring transparency, accuracy and accountability in all government transactions, as mandated by the Lagos State Public Procurement Law.
“We regret that specific details, particularly concerning the descriptions of government dealings, may have inadvertently led to confusion, impacting both governmental entities and corporate partners providing services to the state. This arose largely from the lack of detailed descriptions in the project information, which has inadvertently led to confusion in the public space.
“We empathise with public concerns and extend our sincere apologies for any distress caused. It is never our intent to cast doubt or cause misunderstandings that might tarnish the reputation of respected individuals and organisations involved in these transactions.
“To address these concerns thoroughly, the agency has taken immediate steps, Line-by-by-line explanations of the contracts in question are attached herewith, aiming to provide absolute clarity and dispel any lingering misconceptions.’’
He added that, “The agency will continue to improve its internal processes and communication methods as our commitment as a government is to offer clearer and more accessible information to the public. It is pivotal to stress that the Agency’s autonomy exists to ensure fairness and transparency, not to cause confusion or discredit any involved parties.
”We, therefore, assure the public of our unwavering dedication to upholding the highest standards of integrity in all our operations. Looking ahead, we pledge our continued commitment to consistently and accurately report all government transactions in the State.
”Our unwavering commitment remains to elevate the standard of living and enhance the quality of life for the people of Lagos. Rest assured, this commitment will always take precedence.”
By Modupe Gbadeyanka
The 16th Honours Nite of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), Lagos State Branch, received the full backing of Stanbic IBTC Capital, a subsidiary of Stanbic IBTC Holdings.
The company sponsored the event, which brought together industry leaders, corporate partners, and public sector decision-makers in the real estate sector.
It was an avenue to recognise and celebrate exceptional achievements in the real estate and development ecosystem.
The chairman of NIESV in Lagos, Mr Gbenga Ismail, while addressing guests at the programme themed Inspiring Excellence, Shaping the Future, said, “Honours Nite gives us the chance to highlight the excellence and integrity inherent in our profession. While we celebrate today’s achievers, we set a precedent for a future that embraces innovation.”
The chief executive of Stanbic IBTC Capital, Mr Oladele Sotubo, stated, “At Stanbic IBTC Capital, we believe that excellence in the real estate sector is necessary for sustainable growth and community development.
“By supporting events like the NIESV Honours Nite, we underscore our commitment to recognising and empowering the professionals who shape our built environment.
“Together, we can inspire innovation and uphold the highest standards, ensuring a future where quality housing and ethical practices thrive in Nigeria.”
Also, the Head of Real Estate Finance for West Africa at Stanbic IBTC Capital, Mr Tola Akinhanmi, expressed pride in supporting professionals and developers dedicated to providing high-quality housing solutions.
“These awards recognise projects that meet significant market demands and symbolise the progressive vision for the future of real estate in Nigeria,” he said.
At the ceremony, Stanbic IBTC Capital was announced as the winner of the Residential Development of the Period Award. This was for projects that demonstrated significant market influence and superior execution.
Biufort Homes Limited’s Greenwich Gardens (Ketu) won the Silver Award, while UPDC Plc’s The Hampshire earned the Gold Award for its outstanding design, execution, and strategic contribution to the premium residential landscape.
The collaboration between Stanbic IBTC Capital and the group highlights the importance of excellence in the real estate sector.
It sets a foundation for future innovations and advancements especially in underweight asset classes such as the residential sector which will help to catalyse developments and further bridge the housing supply gap in Nigeria.
This further underpins Stanbic IBTC’s value proposition and support to stimulate home ownership and acquisition via our end-to-end product offering including construction/development finance, insurance and various home loan packages which creates effective demand.
By Modupe Gbadeyanka
The third season of the YouTube series of Anzisha, The Journey, will focus on 30 very young entrepreneurs across Africa.
The documentary series will provide an uncensored glimpse into the grit of the small business owners, letting the viewers know the hurdles, strategic pivots, and moments of leadership that define their journeys.
With over 1.13 million YouTube views last season, The Journey S3 promises to be even more impactful.
This season culminates in a high-stakes pitch competition where four prizes totalling $40,000 will be awarded to the most promising entrepreneurs.
This intense pitch week in Johannesburg, South Africa, is where young founders refine their ideas, validate the work they’ve done over the last two years, and battle for prizes that can transform their ventures.
Viewers will see entrepreneurs navigate uncertainty when faced with unpredictability. These young leaders, aged 15 to 22, come from across Africa, including Zimbabwe, Nigeria, Madagascar, Benin, Uganda, Zambia, Ghana, Egypt, DR Congo, and Senegal.
Their ventures span across numerous sectors, from agriculture and food processing to technology, logistics, and personal care, clearly reflecting innovation across the continent.
The series showcases them building sustainable ecosystems that extend beyond financial returns and redefining leadership through inclusive and purpose-driven businesses.
The Managing Director of Anzisha, Didi Onwu, said, “The Journey season 3 is more than just a series; it’s a window into the future of African enterprise.
“It showcases the dedication, innovation, and resilience of young entrepreneurs who are not just building businesses but transforming their communities.”
The Journey’s season 3 offers a rich tapestry of experiences from a broad group of young African entrepreneurs.
Viewers will see the reality of their experiences, the balance of vision and execution, innovation and sustainability, and personal ambition driven by a desire to address gaps within their communities.
This season deepens understanding of the African entrepreneurial ecosystem by providing an honest look at the complexity of developing businesses in emerging markets.
By Adedapo Adesanya
The federal government is already developing a robust Green Methanol Industrial Complex, the highest in Africa and is seeking Brazilian partnership in design, certification and feedstock optimisation for socio-economic development of the country.
The Minister of Innovation, Science and Technology, Mr Uche Nnaji, during a visit of the Ambassador of Brazil to Nigeria, Mr Carlos Gracete, to his office in Abuja, said under President Bola Ahmed Tinubu’s Renewed Hope Agenda, the Ministry was driving reforms that will place innovation at the center of job creation, industrial growth and national competitiveness for economic development.
He emphasised that the efforts are being made to mechanize agro-processing and unlock the full potential of cassava, sugarcane and soybean value chain for the betterment of the citizens, reaffirming that the country is ready to work closely with Brazil to co-create inclusive, sustainable and high impact innovation projects.
On his part, the Director-General of the National Space Development Research Agency, NASRDA, Mr Matthew Adepoju while speaking, said that the agency is expanding Nigeria’s satellite capabilities and therefore seeks collaboration with Brazil’s national Institutes for Space Agencies on areas of Remote Sensing, Climate Monitoring, Land Use Analytics, Border Security and Disaster Response.
Also, the envoy said the purpose of the visit was to deepen bilateral cooperation between Nigeria and Brazil in key areas through technology, innovation driven development and trade relationships.
Methanol fuel is an alternative biofuel for internal combustion and other engines. It has chemical and physical fuel properties similar to ethanol and current research now focuses on the use as a sustainable marine fuel that will contribute to economic diversification of the country.
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