General
Seyi Tinubu Covers July/August Issue of Pleasures Magazine
The image many have of a meeting of leaders of business and government is of a room filled with people aged 50-70, even 80 years old, discussing the narratives that will shape the world. But the decisions from such meeting will not impact their generation, they will impact young people.
Over 50% of the world’s population is under the age of 27. So, if someone is going to decide to shape the future, the youth, have to be part of that dialogue; a bigger part of this narrative of co-creating the future.
Professor Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, realized this early on and founded the Global Shapers Community to empower young people to play an active role in shaping local, regional and global agendas.
With the largest youth population in history, there is an unprecedented opportunity for young people to take an active role in shaping the future. This generation has inherited enormous global challenges but has the ability to confront the status quo and offer youth-led solutions for change. They are today’s leaders.
The theme of the July / August issue of the Pan-African Entrepreneurial and Luxury magazine, PLEASURES MAGAZINE is “Creating a Shared Future in a Fractured World”, a special edition to celebrate young achievers who are changing our world in no small ways, these two keeps moving the needle especially in the area of entrepreneurship. They are taking more risks than ever before and building phenomenal businesses and taking decisions that are tackling problems and creating lots of jobs in the process. They are real change agents.
Seyi Tinubu, CEO of advertising giant, Loatsad Promomedia and Noella Tinubu Foundation, a non-profit organization in the interview with Pleasures magazine, highlighted his entrepreneurial journey and the impact of his Noella Tinubu Foundation, an initiative to empower and encourage youths to become change-makers in society by helping them to identify their passion and use that passion to create solutions that empower Nigerian communities and drive greater economic growth.
On the making of Seyi Tinubu
One of the refreshing aspects of the founder of Noella Tinubu Foundation, Seyi Tinubu’s interview with Pleasures Magazine is that he comes across as someone who doesn’t believe in mincing words. Be it the conviction with which he talks about his enterprise and what it has achieved so far, or his refusal to accept the status quo just because of a that’s-the-way-it-has-always-been-done sort of mentality, this Nigerian entrepreneur and the son of one of the leading Nigerian politicians, Asiwaju Bola Ahmed Tinubu seems to be charged up with a vision of a better future for the world at large.
The Noella Tinubu Foundation, founded by Seyi and his wife Layal started out, as a result of the yearnings of people who always ask the couple for support and help in one area or another. So, they both thought it would be best to set up a foundation where they can use a platform to empower people, both entrepreneurs and their startup businesses as well as other areas requiring support to keep their initiatives running. It has since grown into becoming “a global millennial startup movement for social good,” with Seyi and his team essentially developing entrepreneurial pipelines across Africa that transform business minds into change agents for sustainable impact.
“I love innovations and I see the future being tech driven. With that said, the Noella Tinubu Foundation is not limited to creating programs for tech entrepreneurs.” Seyi said in the interview.
With this being the case, PLEASURES MAGAZINE beamed the impact of the foundation and in his response to the question, Seyi said: “We’ve come up with initiatives such as scholarships to deserving students, empowering kids and youths with educational materials, training and skills empowerment, and other outreach programs to orphans, widows and children.”
“The Noella Tinubu Foundation has grown to a full-blown movement which is leading an entire generation to change the world,” he declares. “By 2050, the population in Africa is set to double to two billion with nearly half of that being under 25 years old. I believe that a rise in the younger population alongside entrepreneurship is significant to stir up a job creation wave. Reason why the NoellaTinubu Foundation was set up as a platform to empower and encourage youths to become change makers in society by helping them identify their passion to create solutions that empower Nigerian communities and drive greater economic growth. We give help to various individuals, bodies, groups, etc as a way to increase not just their livelihood, career, business, interests, etc.
We run workshops, training, invest, scale; all for the purpose of changing the trajectory of students on college campuses across Africa. Our aim is to provide a risk-free opportunity, and then back it up with the support required to have change.
We are distinguished in that we are a pipeline creator, the most fundamental piece of the startup funnel. We turn ordinary students into impact entrepreneurs, because we start with people, not ideas.”
As Seyi rightly notes, the NTF has transformed from what it was in its initial days- but it’s a change that has been for the better. “The objective of our foundation is to shortcut the entrepreneurial journey for young people, and get them to realize that you can build a billion-dollar business by creatively thinking about some of our world’s toughest challenges.”
According to him, “We pick an exciting area of impact that can be addressed and then we write a detailed opportunity map, outlining where billion-dollar companies could be generated. By focusing our entire network on one topic, it changes the paradigm of a generation, and exposes market inefficiencies in the current development space, which can be solved through business approaches. This year’s challenge is on rethinking how to harness the power of energy to transform 10 million lives. We used to focus on the bottom of the pyramid, but I have shifted our focus on empowering more people to reach the middle class. Tackling poverty is not enough; we must move the lower third into economic independence.”
Another sector Seyi is making marks is the advertising sector. Although he is trained as a lawyer, his entry into the lucrative advertising industry has rewritten how the industry is run in Nigeria. His company Loatsad Promomedia is the rave of the industry now. With Seyi at the helm, Loatsad Promomedia has provided services for various clients in Telecommunications, Energy, Banking, Food and Beverages, Pharmaceuticals, Media, Real Estate, Education and Government, including Lagos State Advertising Agency (LASAA).
In 2017, his innovative imputes into the industry earned him a prestigious Young Entrepreneur of The Year Award. In recognising and rewarding excellence in Nigeria’s Entrepreneurs, Advertising and Marketing Communications sectors.
Mr Seyi’s giant strides are even more appreciated by many, in his effort to live off the illustrious name of his father. He remains one of the most inventive and energetic minds in Nigerian technology today.
This issue also includes a look at the numerous positive initiatives of Queen Rania Foundation for Education and Development, founded by Queen Rania Al Abdulahi of Jordan. And on the two years crowning achievements of Mohammed bin Salman, crown prince of Saudi Arabia.
Plus, a special profiling of 50 African Women Entrepreneurs to watch out for on the global stage.
And as usual, the magazine is incomplete without your usual light stories and other human interest narratives such as the heart touching grass to grace story of Joana Gyan, Ghana’s queen of Gold export. Read the interesting tourist sites in Africa, these and many more reports combine in making the magazine a collector’s item and reading pleasure for all and sundry.
General
NIMASA Mulls Expansion of Nigeria’s Deep Blue Project
By Adedapo Adesanya
The Nigerian Maritime Administration and Safety Agency (NIMASA) is considering expanding the country’s Deep Blue Project due to its perceived success, with impact felt across the Gulf of Guinea, where it has helped to reduce piracy massively and gained global recognition, to ensure sustainability and greater impact.
The Director General of NIMASA, Mr Dayo Mobereola, made this known during his strategic visit to the Chief of Naval Staff, Vice Admiral Idi Abass, at the Naval Headquarters, Abuja.
Mr Mobereola, while commending the Navy for the harmonious collaboration with NIMASA and congratulating the CNS who had previously served as Maritime Guard Commander under the agency, called for continued partnership with the security outfit under his watch.
“It is important that we continue our partnership and strengthen our relationship. Our purpose here is to congratulate you and to discuss the benefits of the Deep Blue Project, how to sustain it, expand it, and increase its impact on the Gulf of Guinea.
“We are confident that we have the backing of the President, the Minister of Marine and Blue Economy, and the Nigerian Navy, hence, we are working towards presenting our proposal on the necessary improvements to be undertaken,” he stated.
The DG acknowledged the importance of the Deep Blue Project, noting that its impact resonates globally, with the International Maritime Organisation (IMO) commending it.
“The Deep Blue Project is vital, and countries around Africa and some other parts of the world are coming to copy our model. The IMO is asking how a civilian organisation was able to achieve this feat. It is therefore important that we continue to collaborate and do even better for greater sustainability,” he said.
Mr Mobereola also congratulated the Chief of Operations, Nigerian Navy, Rear Admiral Musa Katagum, who is joining the NIMASA governing board as the Navy’s representative.
On his part, the Chief of Naval Staff, Vice Admiral Idi Abass, while welcoming the NIMASA DG and his delegation, commended the Agency for the good work it is doing in the maritime sector and its continued support to the Nigerian Navy.
“Part of my command’s objective is to work in synergy with other agencies to achieve our goal as a country. We complement each other. We have no option but to collaborate and synergise.”
The Naval chief noted some concerns, which include the MoU between NIMASA and the Nigerian Navy, which has been in place since 2007 and should be revisited.
He also solicited for the Navy to be called upon for such needs as vessel repair, hydrographic surveys and chartings, stating the Navy’s capacity in handling such tasks.
The CNS also canvassed NIMASA’s assistance for wreck removal, particularly as the Navy gears towards its 70th Anniversary, where it looks forward to welcoming foreign ships.
He further commended NIMASA for its recent launch of the Cabotage Vessel Financing Fund (CVFF) Application Portal, noting that the organisation has come a long way in its planned disbursement of the fund.
General
Ikeja Electric Fumes Over Impropriety Allegations Against CEO, Chairman
By Adedapo Adesanya
Ikeja Electricity Distribution Company has described as malicious and misleading a widespread publication currently circulating online alleging impropriety about its chief executive, Ms Folake Soetan, and its board chairman, Mr Kola Adesina.
The management of the DisCo noted that a publication attributed to ‘Nigerian Global Business Forum’ defamed its CEO and the chairman of the IKEDC board.
The company said, “The publication, attributed to yet to be verified individuals and organisation, is clearly intended to misinform the public and bring the company and its leadership into disrepute through fabricated claims, the DisCo observed.”
Ikeja Electric noted that its investigation so far revealed that the ‘Nigerian Global Business Forum’ is an unregistered organisation with no recognised legal or corporate existence locally or abroad.
According to the energy firm, the signatories, “Dr Alaba Kalejaiye” and “Musa Ahmed,” have no verifiable professional credentials or established public profiles, and the publication contains false and misleading statements regarding Ikeja Electric’s operations, safety record, and financial practices.
The organisation said it had instructed its legal advisers to conduct a thorough forensic investigation and to initiate defamation proceedings against the authors, publishers, and any persons or entities found responsible for sponsoring or disseminating this malicious publication.
Ikeja Electric said it operates within a strict framework of accountability and remains committed to transparency and service improvement, warning it will not tolerate coordinated disinformation campaigns aimed at undermining public confidence and tarnishing its corporate integrity.
“Ikeja Electric remains steadfast in its mandate to deliver reliable power while upholding the highest standards of corporate governance and customer excellence.
Members of the public are advised to disregard the false publication in its entirety,” it said in a statement.
General
PMS May Sell N1,000 Per Litre if Marketers Adopt Costly Coastal Loading
By Aduragbemi Omiyale
Nigerians may be forced to purchase premium motor spirit (PMS), commonly known as petrol, for almost N1,000 per litre if marketers choose to go for the costly coastal evacuation and not the cheaper gantry loading, the Dangote Petroleum Refinery has cautioned.
Though the company clarified that marketers were free to choose their preferred mode of evacuation, it emphasised that the implication of adopting the coastal loading was that consumers would pay more for the product because of the extra costs.
According to Dangote Refinery, “Coastal logistics can add approximately N75 per litre to the cost of petrol, which, if passed on to consumers, would push the pump price of PMS close to N1,000 per litre.”
The firm noted that its “world-class gantry facility” has 91 loading bays capable of loading up to 2,900 tankers daily.
Operating on a 24-hour basis, the facility can evacuate over 50 million litres of Premium Motor Spirit PMS, 14 million litres of Automotive Gas Oil (diesel) and other refined products each day, it added, urging marketers and policymakers to prioritise logistics choices that support price stability and consumer welfare.
It stressed that direct gantry evacuation eliminates port charges, maritime levies and vessel-related costs that do not add value to end users, helping to optimise costs, improve distribution efficiency and support price stability.
“Reliance on coastal delivery, particularly within Lagos, may introduce avoidable costs with material implications for fuel pricing, consumer welfare and overall economic wellbeing,” the company stated in a statement.
Based on Nigeria’s average daily consumption of about 50 million litres of PMS and 14 million litres of diesel, the refinery estimated that sustained dependence on coastal logistics could impose an additional annual cost of roughly N1.752 trillion. This cost, it said, would ultimately be borne either by producers or Nigerian consumers.
The refinery also renewed calls for coordinated investment in pipeline infrastructure nationwide, arguing that functional pipelines linking refineries to depots would significantly cut distribution costs, improve supply reliability and strengthen national energy security.
It said domestic refining has already delivered measurable benefits to the Nigerian economy. Since the commencement of operations, the price of diesel has fallen from about N1,700 per litre to N1,100 and currently trades between N980 and N990. Similarly, PMS prices have declined from about N1,250 per litre to between N839 and N900.
It added that increased local supply has sharply reduced fuel importation, eased foreign exchange pressures and improved market stability, contributing to a stronger naira, which recently traded at about N1,385 to the dollar.
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