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Industrialisation Impossible With 2,200MW of Power –CVL VP

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  • Industrialisation Impossible With 2,200MW of Power

The Senior Vice-President, Strategy and Development, Centre for Values in Leadership, Mr. Rasheed Adegbenro, has said that the 2,200 megawatts of electricity being generated currently is not sufficient for industrial revolution in the country.

Speaking on Tuesday, he said that industrial development was unrealistic with per capita consumption of 13 watts of electricity.

According to Adegbenro, who is a former Director-General of the Manufacturers Association of Nigeria, power is critical to the development of the country and its scarcity and absence of other infrastructure should be challenged.

He said, “We want to be industrialised and we have a minister of Industry, Trade and Investment launching a massive industrial revolution plan, on what? Is it on 13 watts per capita? It is not doable. There is no magic that can be performed. If you have television, refrigerator and air conditioner at home, you are consuming the energy of 100 people. There is no way we can run industrialisation on a per capita consumption of 13 watts.

“Population is not a challenge but our politicians see it as a challenge. Can security and infrastructure match population explosion? Can school education today match the population explosion of tomorrow? The social, physical and economic infrastructure in the country needs to be debated and put in the public domain.”

He noted that developing countries were already responding to the challenges of the population explosion with the introduction of smart cities, adding that Lagos and Enugu states had keyed into the global concern.

According to him, the 14th edition of the CVL Annual Lecture/International Leadership Symposium will examine these issues and others such as cities of the future, urban renewal, urban governance, promoting and developing well-planned and efficient cities around the world, and cities and living well together, among others.

Adegbenro said that a renowned scholar and professor of African economies at Oxford University, United Kingdom, Paul Collier, would speak on the challenge of Africa’s future cities as the keynote speaker.

According to him, a former Governor of Cross River State, Liyel Imoke, will chair the event themed: ‘Living Well Together, Tomorrow: The Challenge of Africa’s Future Cities’, while the Governor of Edo State, Mr. Godwin Obaseki, will be the chief guest of honour; and the chief host at the event is the Founder/CEO, CVL, Prof. Pat Utomi.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

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Sterling Homes Plans To Reduce Housing Deficit

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Sterling Homes Limited has said it is committed to working with the government through private public partnership to reduce housing deficit in all the geo-political zones in the country.

The Managing Director, Mr Kunle Adeyemi, said this during an event on the company’s rebranding organised as part of its 10th year anniversary in Lagos on Friday.

During the event, the company while expressing commitment to excellence and customer satisfaction, unveiled its new logo with colours to define its mission and objections.

We want to be present in all the six geo-political zones on Nigeria by providing affordable luxury homes, excellent torch. So for us, there is a need for us to rebrand and have a new direction and vision.

“We want to partner with the government on the present housing deficit; we want to embrace a public, private partnership with the government to reduce the deficit in every geo-political zone.”

The managing director said that one of its unique selling points was its after sales services which was top notch.

He said it ensured that its customers were taken through the journey of actualising their dreams of becoming home owners.

While noting that everyone deserved to have a comfortable home despite the economic situation, he said it had designed a structure payment plan with zero interest in some cases to help intending home owners.

He said it also had provisions for high breed options and developing areas to accommodate various income levels.

Before the end of the year, he said, Sterling Homes would be establishing new presence and projects in other regions.

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Mutual Benefits Drives Financial Inclusion

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Mutual Benefits Assurance Plc says it is committed to deepening financial inclusion and creating easy accessibility for insurance in the country.

A statement from the firm on Friday said it expressed this commitment when it inaugurated its South-West region franchise operations in Ibadan, Oyo State.

The Managing Director, Mr Femi Asenuga, said this was part of its efforts to develop the insurance business and create values.

He said, “The role we all have to play is to be ambassadors of Mutual Benefits.

“A franchise is a well-known word and the way Mutual Benefits practices franchise is in our normal style of creating and adding value; we never rest.”

Asenuga said that the firm was working with stakeholders to increase awareness and take its message to the grassroots.

In developed economies, he said, insurance firms owned banks. He regretted that this was not the situation in Nigeria.

He said the firm would provide stakeholders with the platform and support to make them excel as a member.

The Managing Director, Mutual Benefits Life Assurance Limited, Mr Ademola Ifagbayi, appreciated the stakeholders and urged them to take advantage of the franchise.

The Group Managing Director, Odua Group, Mr Adewale Raji, in his address, advised stakeholders to be committed and showcase good character and integrity.

He said, “The Odua investment is owned by the six South-West governments and it is in our interest when economic, businesses and investment spreads across the South-West states.

“This is an opportunity for us to strengthen insurance penetration within the South-West states.”

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CAC Sets Three-Hour Circle For Company Registration

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Corporate Affairs Commission

The Corporate Affairs Commission on Sunday stated that following the successful deployment of an end-to-end registration module, it was now prioritising the reduction of the registration circle for new companies to just three hours before the end of year 2021.

Registrar-General of the commission, Garba Ababukar, gave the indication at a dinner in honour of the Chairman, Governing Board, CAC and Nigerian Ambassador Designate to the Kingdom of Spain, Ademola Seriki.

The commission disclosed this in series of tweets posted via its Twitter handle on Sunday.

“To achieve the target, the registrar-general said the commission was making arrangements to empower over 400 approving officers with working tools to process and approve registration applications either from home or anywhere necessary,” the agency stated.

Abubakar noted that the challenges of COVID-19 pandemic had adversely hampered CAC’s delivery timeline.

He, however, said the CAC was resolutely committed to serving its customers despite being forced to operate with less than 50 per cent of its workforce.

While bidding farewell to Seriki, the registrar-general said he received the news of his appointment with mix feelings as CAC was going to miss his tremendous support and guidance.

The Minister of Industry, Trade and Investment, Niyi Adebayo, described the outgoing CAC Chairman as a man of immense pedigree and endowed with enormous potential to justify the confidence reposed in him by the president.

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