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The Speaker of the Lagos State House of Assembly, Rt. Hon. Mudashiru Obasa, has described Nigeria as a country currently on a track to greatness just as he urged the citizens to play active roles for this to be fully achieved.

 

Dr. Obasa said this in a statement at the weekend to commemorate Nigeria’s Democracy Day which coincides with the 29th anniversary of the June 12, 1993 elections claimed to have been won by the late Chief Moshood Abiola.

 

According to the Speaker, Nigeria had, since 1999, experienced what could best be described as the teething stage of its democratic journey with the need for unity taking the centre-stage of public discourse.

 

“However, it is now very glaring that we are on the threshold of history with the forthcoming general elections that is now heralded by the smooth convention of the All Progressives Congress (APC) and the emergence of our flagbearer, Asiwaju Bola Ahmed Tinubu.

 

“The new story that we all anticipate, envisage and dream about for our country is achievable and right before us. Our hopes are rekindled. All that is required is our collectively resolve to be part of the ship of progress,” Obasa said in the statement by his media office.

 

Thanking Nigerian leaders, the civil society and citizens who joined in the struggle for the emancipation of the country from the military, Obasa added: “We remain steadfast in our resolve to make our democracy truly work for us all as Nigerians.

 

“History will forever be kind to those who made Nigeria’s democracy possible. They are our country’s real heroes.

 

“We are honoured to be the current bearers of the baton of democracy and we look forward to upholding the labour of these heroes.”

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Nigeria Breweries Sacks 380 As Dollar Rate Bites Hard 

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NB Plc’s workforce has been reduced by 380 workers as the brewer struggled with the loss induced by surging cost and the naira floating policy of the Central Bank of Nigeria last year.

 

NB joined brewery firms like International Breweries Plc which declared N59.5bn net loss in 2023 and Champions Breweries which is also struggling.

 

In 2023, breweries in Nigeria struggled with the high cost of operations and sourcing expensive foreign exchange to purchase raw materials for their beer and soft drink business.

 

Nigerian Breweries audited financial statement results for 2023 show that their desired destination of sustained profitability is still a long way off.

 

The brewery company which is the largest listed beer maker on the Nigerian Exchange Limited posted a revenue growth of 9 per cent from N550.5bn in 2022 to N599.5bn by the end of 2023.

 

The company recorded an unimpressively yearly loss which is huge by the standards of a firm whose business model is based on spending heavily to keep rivals out of the picture.

 

From a profit of N13.2bn in 2022, the company saw a scourging loss of N106.3bn driven principally by naira scarcity and the naira devaluation, which officially began on 14 June, 2023.

 

The company was able to curtail personnel expenses, which rose marginally from N51.3bn in the preceding year to N55.5bn in 2023 but was roped with N36.4bn finance cost which surged from N8.4bn in 2022.

 

Nigerian Breweries has now lost N153.3bn on foreign exchange transactions spiking from the N26.3bn loss in 2022.

 

The company paid more deposits for imports of N16.2bn up from N6.9bn in 2022, representing naira deposits for foreign currencies purchased to fund letters of credit and forwards, as well as futures.

 

The N16.2bn is related to imported raw materials, spare parts, and machinery.

 

About 99 per cent of the company’s products were sold in Nigeria while only N335.46bn were export proceeds, making it difficult for them to source forex for imports of raw materials.

 

By the end of the year, staff strength of Nigerian Breweries dropped by 380 from 2,685 in 2022 to 2,305 workers.

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Primate Ayodele Commissions Ultra-Modern Health Care Centre, Dole Out More Cars

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The Leader Of INRI Evangelical Spiritual Church, Primate Elijah Ayodele has commissioned an ultra-modern health care centre and gifted cars to his church members today Friday, 16th of February, 2024 in commemoration of his annual thanksgiving programme tagged ’21 days of unlimited praise’.

 

The event was well attended by prominent members across different sectors including the CEO of SIFAX Group, Dr. Taiwo Afolabi who unveiled the health care centre, the Vice-chairman of Ikorodu Local government, Aarebirin Honourable Princess Folashade Olabanji-Oba, Lagos commissioner of police, Adegoke Fayoade, Oniworo of Iworo, Oba Oladele Kosoko, to mention a few.

 

Stating the reason behind the health care centre, Primate Ayodele explained that the less privileged have issues accessing health care and even for an average Nigerian, it’s becoming unaffordable. Therefore, in his own little way to bring succor to the people, he thought of building a health care centre within his church where people can have access to 24/7 medical assistance.

 

To add to his several philanthropic projects, Primate Ayodele revealed plans to begin a free launch programme to the needy later in May and another edition of palliative market in July 2024.

 

‘’The average Nigerian is battling with so many things and health care is one of them. People have died because of illnesses that were not attended to because they couldn’t access medical assistance. My decision to build a healthcare centre for the people is borne out of the need to address the lack of medical assistance when it is needed. This is my own little way of assisting the government and largely, bringing succor to the people in order to prevent avoidable deaths’’

While reacting to this laudable project, Dr. Taiwo Afolabi appreciated Primate Ayodele for always giving back to the society especially the underprivileged. He acknowledged the several works of Primate Ayodele while confessing that he is surprised at the prophet’s philanthropic activities.

 

He also made it known that he sincerely loves Primate Ayodele for all he does for the less privileged and it’s the reason he attended the event despite his busy schedule.

 

‘’We are seeing your hand work, I pray God blesses and gives you more anointing. We are also doing something like this and we want to replicate it everywhere. We want you to keep it up because you are helping the needy in the society.’’

 

Also, Oba Oladele Kosoko commended Primate Ayodele for his massive empowerment programmes while vowing to always answer the man of God whenever he calls upon him for anything. Likewise, Princess Folashade Olabanji-Oba who anchored the presentation of the car gifts and other provisions made to the less privileged attested to Primate Ayodele’s unprecedented kindness to the people.

 

Continuing, Primate Ayodele gave out accommodation fees, shop rent, household items like mattresses, refrigerators, televisions, JAMB forms, work equipment, to mention a few.

 

It would be recalled that On Wednesday, 14th Of February, 2024, Primate Ayodele held the second edition of his palliative market where a bag of rice was sold for N20,000, a bag of beans was sold for N2,000, Tubers of yam were sold for N1,500, a bag of Semovita was sold for N1,500, garri was sold for N3,000, a carton of Indomie sold for N1,500, wheat was sold for N2,000 and gave out five cars to church members and a journalist.

 

The 21 days of unlimited praise started on January 29 and will be ending on Sunday, 18th Of February with the commissioning of a new church cathedral.

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