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371, 000 IDPs to benefit from Dangote Foundation’s donation in Borno.
IN an effort aimed at complementing government’s humanitarian intervention to bring reliefs to the victims of insurgency and other Internally Displaced Persons (IDPs) in Borno state, Africa’s foremost businessman, Aliko Dangote has donated food items worth more than N200 million to the people.
He said he had always felt for those in the IDP camps and that the donation became more urgent given that it is Ramadan period.
The business mogul who made the donation of the items through his Foundation, The Aliko Dangote Foundation, pledged that he would be willing to complement any government efforts designed to ameliorate the suffering of the IDPs anywhere.
Chief Executive of the Foundation, Zouera Youssoufou, who made the donation and distribution of the food materials on behalf of Dangote, explained that the gesture was part of the Foundation’s humanitarian efforts contributing to the well-being of Nigerians in need.
“This gesture is in continuation of the Group’s efforts to provide succor to Internally Displaced Persons in Borno State”, she stated.
According to her, the decision to bring down to Borno the food items was the demonstration of the Foundation’s undertaking “to ensure that the IDPs also have a successful Ramadan period just as their other Muslim counterparts in other parts of the world. ”
“The Foundation is providing food items worth N200 Million to support the IDPs in the state. Today, the Items the Aliko Dangote Foundation have delivered include: Rice, Spaghetti, Sugar, Salt, Millet, Maize, Noodles, Semolina and Wheat Meal”, she said.
The Foundation is providing food items worth N200 Million to support the IDPs in the state
The Governor of Borno state, Alhaji Kashim Shetima, who formally flagged-off the distribution, thanked the Dangote Foundation for its continuous support to the people of Borno state, epecialy to the victims of insurgency.
Said he, “words are not enough to describe how grateful the people of Borno are to Alhaji Aliko Dangote and his Foundation, who has relentlessly come to support and share in our plight in our time of need.”
He asserted that since the inception of the insurgency, the Dangote Foundation remains the largest single individual donor to the IDPs in the state after the Federal and State governments.
Also, the Executive Chairman of the State Emergency Management Agency, Engr. Ahmed Satome, said that the Dangote Foundation is unique in the sense that it provides all classes of food required by the IDPs in line with the global acceptable standards.
While commending the efforts of the Foundation, he said that a total of 371,000 individuals will benefit from this Ramadan intervention.
Other dignitaries at the occasion include the Speaker and Deputy Speaker of the Borno State House of Assembly and other members of the Borno State Executive Council.
It would be recalled that following the report, earlier of unhealthy conditions in which the IDPs live in 2016, Alhaji Dangote visited some of the camps and his Foundation made a jumbo donation of N2 billion and hundreds of millions of Naira worth of food items.
Within a spate of five years, the total amount donated to various camps of IDPs, across the country by the Dangote Foundation has grown significantly to N6.3 billion. The Foundation donated N364 to IDPs in Kaduna, Bauchi and Gombe states after the 2011 post-election violence which rendered many homeless, while in another breath the sums of N100 million and N60 million were respectively donated to victims of flood disaster in Lagos and Oyo State also in 2011.
The headquarters of Heritage Bank at Victoria Island, Lagos, was besieged on Thursday by members of the labour union, protesting the recent dismissal of 1,000 support workers.
The National President of the National Union of Banks, Insurance and Financial Institutions Employees, Comrade Anthony Abakpa, led the demonstration, condemning the bank’s management for what he deemed a lack of adherence to due process in the termination of employment contracts.
Speaking during the protest, Comrade Abakpa asserted that the leadership of Heritage Bank failed to follow established protocols before executing the mass layoffs.
He emphasised the union’s commitment to pursuing justice for the affected workers, vowing to escalate their demands until the bank’s management rectifies the situation.
“We will intensify our demands for justice,” declared Comrade Abakpa, urging the bank’s management to take corrective action to address the grievances of the dismissed workers.
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, clarified that Nigeria is not utilising its foreign reserves to bolster the naira, despite recent fluctuations in reserve levels.
Speaking from Washington DC, where he is attending the International Monetary Fund-World Bank Spring Meetings, Cardoso highlighted the influx of $600 million into Nigeria’s reserves account within the past two days.
While the naira has experienced a notable appreciation against the dollar in recent weeks, climbing over 40% from approximately N1,900/$ to about N1,000/$1, Nigeria’s foreign reserves have been dwindling. As of April 15, reserves dropped to approximately $32.29 billion, marking the lowest level in over six years.
Cardoso emphasised that the shifts in reserves are typical for any country, where various financial obligations, such as debt repayments, necessitate withdrawals.
He stated, “What you’ve seen with respect to the shift in our reserves is normal in any country’s reserves where, for example, debts are due and certain payments need to be made. They are made because that is also part of keeping your credibility.”
Continuing, Cardoso underscored the dynamic nature of the market, advocating for a system driven by willing buyers, willing sellers, and price discovery.
He emphasised, “The shift in our reserves has really little or nothing to do with defending the naira, and that is certainly not our objective.”
Dangote Petroleum Refinery has made headlines by announcing a further reduction in the price of diesel, dropping it from ₦1200 to ₦1000 naira per litre.
The refinery’s decision comes on the heels of its recent supply at a significantly reduced price of ₦1200 per litre, which was introduced three weeks ago, signifying a remarkable 30 per cent decrease from the previous market price of approximately ₦1600 per litre.
This substantial reduction in diesel prices at Dangote Petroleum Refinery is expected to reiterate positively throughout various sectors of the economy, potentially serving as a catalyst in alleviating the persistently high inflation rate in the country.
In a statement last week, Aliko Dangote, Africa’s wealthiest individual and the owner of the refinery, expressed his optimism regarding the potential impact of the price reduction on inflation in Nigeria.
“I believe that we are on the right track. I believe Nigerians have been patient, and I also believe that a lot of goodies will now come through. There’s quite a lot of improvement because if you look at it, one of the major issues that we’ve had was the naira devaluation that has gone very aggressively up to about ₦1900,” he remarked.
As anticipation builds around the implications of this move by Dangote Petroleum Refinery, stakeholders and consumers alike remain hopeful for the positive effects it could bring to the Nigerian economy in the coming months.
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