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Host communities commend Dangote Refinery’s initiatives

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Impressed with the provision of communal infrastructures for their communities by Dangote Oil Refining Company (DORC) as part of its Corporate Social Responsibility service, traditional rulers and community leaders from host communities in Ibeju-Lekki Free Trade Zone area of Lagos have expressed appreciation at the timely intervention of the Company to their needs.

The monarchs numbering 14 at a stakeholder parley in Lagos with the management of DORC commended Dangote Industries Limited, the parent company for partnering them on various Corporate Social Responsibility (CSR) initiatives targeted toward the development of Lekki Free Trade Zone communities.

The Community leaders said that Dangote Industries had so far demonstrated its resolve to address the concerns of the people by complementing efforts of the state government to develop the host communities in the Lekki Free Trade Zone, where the Dangote Refinery, Fertilizer and Jetty are located.

The royal fathers pointed out that they appreciate the good gestures by the company by doing so much for the communities even when still at construction stage.

At the parley which took place after a guided tour of the Dangote Refinery, fertilizer and Jetty were the Leaders of all the communities around the project site, including Idasho, Ilekuru, Okeyanta, Magbo-Segun, Okesegun, Itoke, Idotun, Alasia, Okunraiye and Lekki town.

Other neighbouring communities like Imobido community, Tiye community, Mosa community, Ilege community, and Olomowewe community were also represented at the meeting.

Speaking at the event, the Imobido Community head, Chief Jegede Lateef, commended the company for siting its refinery and petrochemical plants in the community saying his community was extremely lucky because the projects could have been sited elsewhere.

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“We appreciate Dangote Industries for its decision to establish a refinery and petrochemical plants in our communities and we believe that the company’s investment will contribute to the development of the community. Dangote is welcome to do his business in our communities and we are fully ready to cooperate with him”, the community leaders said.

He emphasized the need for the company to ensure that the various investments translate to infrastructural development and employment opportunities for members of the host communities.

Also, the Head of Tiye Community, Chief Adewale Salami, who commended the company for the various completed and ongoing projects, promised that the community would at all times provide an enabling environment for the investment to thrive.

He said Dangote has done well in enhancing the welfare of host communities and urged it not to relent in its efforts to ensure that jobs are provided for qualified graduates who are indigenes of Lekki Free Trade Zone.

In his comment, the Olomowewe Community Head, Chief Shefiu Aguda said the communities had come to identify Dangote Industries as an organization that had shown concern for the welfare of the members of the communities, adding that many of the localities lacked basic social amenities prior to their contact with the company.

“The areas are gradually becoming like cities from its their usual old rural setting because of human and economic activities on daily basis,” he said.

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The Group Executive Director, Dangote Industries Limited, Devakumar Edwin, who received the group expressed the company’s commitment to the execution of more strategic community development projects, particularly those that would improve the host communities.

He disclosed that the company actually conducted a baseline survey and needs in all the communities adding that it was the findings of the survey that were used in developing a comprehensive Community Development Plan (CDP) and that the company has already embarked on youth empowerment and leadership programme for the host communities.

Edwin added that the company will continue to support educational programmes, development of small and medium enterprises, improved infrastructure and creating awareness on proper hygiene and sanitation in the environment.

The Dangote Refinery boss said the aim of the company is to be a good neighbour in its areas of operation, by contributing to the well-being of neighbouring communities. “We work closely with them to manage the social impacts of our business activities, address any concerns about our operations, and enhance the benefits that we are able to bring. We work closely with communities to understand their concerns and identify how to address them. We aim to avoid or reduce any adverse impacts and to manage those impacts that may be unavoidable”, he added.

He said the company prides itself as being a relevant and integral member of its host communities and as a socially responsible organization. “We believe it is important to give back to our community. We will continue to provide support in every way we can to maintain a cordial relationship in the communities,” he added.

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According to him, the company has a strong partnership with communities in the company’s areas of operation. “We support their aspirations and respect the communities’ traditions. We would thus commit ourselves to executing many more strategic community development projects, particularly those that we believe would rapidly improve the lives of Nigerians.”

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Senate Approves Tinubu’s $500m Loan for Power Sector Boost

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The Nigerian Senate has approved President Bola Tinubu’s $500 million loan request intended to bolster the operations of the Bureau of Public Enterprises (BPE) to enhance the financial and technical performance of electricity distribution companies, ultimately benefiting citizens.

The endorsement, announced on Tuesday, follows a thorough examination of the report presented by Senator Aliyu Wamakko, who heads the Senate Committee on Local and Foreign Debts overseeing the 2022 – 2024 External Borrowing (Rolling) Plan specifically for the Bureau of Public Enterprises (BPE).

During the presentation of the report, Senator Haruna Manu, serving as the Vice Chairman of the Committee, emphasised the importance for the Senate to duly receive and deliberate upon the report of the Committee on Local and Foreign Debts concerning the 2022 – 2024 External Borrowing (Rolling) Plan for the Bureau of Public Enterprises (BPE).

The $500 million loan constitutes a portion of the $7.94 billion loan originally requested by President Bola Tinubu on November 1st, 2023, within the framework of the 2022-2024 external borrowing plan. In addition to the $500 million, President Tinubu also sought approval for a €100 million loan.

However, during a special plenary session on December 30, the Senate greenlit the borrowing of $7.4 billion after careful consideration of the report furnished by the Committee on Local and Foreign Debt.

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Melinda Gates Resigns from Gates Foundation, Set to Receive $12.5 Billion

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In this file photo taken on September 26, 2018, Bill Gates and his ex-wife, Melinda Gates, introduce the goalkeepers event at the Lincoln Center in New York. Ludovic MARIN / AFP

Melinda French Gates announced Monday she was leaving the philanthropy mega foundation she established with her ex-husband, Microsoft co-founder Bill Gates.

The resignation, which becomes effective on June 7, will leave Bill Gates as the sole chair of one of the world’s most influential and powerful non-governmental organizations.

“After careful thought and reflection, I have decided to resign from my role as co-chair of the Bill & Melinda Gates Foundation,” Melinda French Gates wrote in a statement posted on social media.

The statement gave no reason for her departure, but noted that “under the terms of my agreement with Bill, in leaving the foundation, I will have an additional $12.5 billion to commit to my work on behalf of women and families.”

The couple married in 1994 but announced their divorce in 2021.

They had continued to co-chair the foundation which they established in 2001 with the vast wealth acquired through the success of Microsoft.

With a focus on child poverty and preventable diseases, the foundation has been heavily involved in fighting malaria and in providing toilets and sanitation in poorer parts of the world.

The foundation’s website says it has spent $53.8 billion since 2000, and claims the number of children around the world who die before their fifth birthday has halved in this time.

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Bill Gates thanked his ex-wife for her “critical contributions” to the organization.

“As a co-founder and co-chair Melinda has been instrumental in shaping our strategies and initiatives, significantly impacting global health and gender equality,” he said.

“I am sorry to see Melinda leave, but I am sure she will have a huge impact in her future philanthropic work.”

The organization’s chief executive, Mark Suzman, said its name would change to simply the Gates Foundation — it has been known as The Bill & Melinda Gates Foundation.

“I truly admire Melinda, and the critical role she has played in starting the foundation and in setting our values, she has played an essential role in all that we’ve accomplished over the past 24 years,” he said in a video posted to social media.

“I will miss working with her and learning from her. I look forward to seeing her continued impact.”

 

 

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EFCC calls on banks’ compliance officers to uphold confidentiality

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The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has urged Compliance Officers of Banks nationwide to refrain from unauthorised disclosure of EFCC’s investigative activities and requests made to banks’ customers.

Speaking through the Acting Zonal Director of the Ibadan Zonal Command of the EFCC, ACE I Hauwa Garba Ringim, during a stakeholders’ meeting with Compliance Officers of Banks in Oyo State on Tuesday, Olukoyede emphasised the detrimental impact such disclosures have on the investigation of financial crimes and the timely filing of corruption cases in court.

Olukoyede expressed concern over the tacit support fraudsters receive from the Nigerian banking sector, highlighting the challenges it poses to the Commission.

He urged Compliance Officers to promptly respond to EFCC’s correspondence with certified true copies of relevant documents, as this facilitates swift investigation processes.

Also, Olukoyede addressed the illegal trading of naira with Point-of-sale (POS) operators, stressing the need to curtail such practices for the benefit of Nigerians.

In response to the chairman’s directives, Compliance Officers assured the EFCC of their unwavering support and commitment to enhancing collaboration between the Commission and banks for more effective anti-corruption efforts.

 

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