- World Farmers’ Centre Opens in Lagos
A platform for agricultural training, advocacy, exhibitions forum, farming projects and a general hub for farmers has opened in Lagos.
Known as the World Farmers’ Centre, the platform is aimed, among others, at upgrading the knowledge of individuals, groups and bodies involved in the business of agriculture at different levels.
To achieve this, the President and Founder of the centre, Dr. Joseph Deji Folutile, said free training courses would be offered on a continual basis for intending farmers and other stakeholders. He added that the centre would encourage knowledge-based agriculture practices that will help the nation not only to be self-sufficient, but producing agric products for exports.
Notable activities that will keep taking place at the centre, according to the president, include the monthly AGRIC SPEAKER SERIES where leaders in the agriculture sector will speak on trending issues that will impact on farming productivity and profitability. He said farmers will also be constantly trained on marketing, while agric crusades will be carried to colleges to catch them young. “AGRIC CEOS FORUM will also take place on constant basis to formulate policies and set up agendas that will keep boosting agriculture in the country,’’ he said.
While lauding government’s efforts at making access to agric loans easier, Dr. Deji Folutile said Nigerians should take advantage of government’s move by investing more in agriculture. “Agriculture is a viable source of income.
The abundance of farmable lands in the country goes to show how profitable farming could be in this part of the world. But, there is need for knowledge-based efforts for maximum impacts and that is the essence of equipping people with training to bridge existing knowledge gap. ‘’
He advised the government to continue to encourage more Nigerians to pursue agric-related businesses to boost the nation’s economy and empower the citizenry. “Starting early will ensure a steady flow of income for the country considering the volatility in the price of crude oil in the global oil market,’’ he explained.
He added that the farmers’ centre was rightly positioned to coordinate several agricultural initiatives that will enable the successes of different players in the agric sector.
Aliko Dangote Remains Africa’s Richest Man With $12.1 Billion Net Worth -Forbes
Nigerian industrialist, Aliko Dangote, is Africa’s richest person for the tenth year in a row.
In the Forbes Africa latest billionaires list, Dangote’s total net worth stood at $12.1 billion, a $2 billion increment when compared to last year. Thanks to the 30 percent increase in the price of Dangote Cement share.
Nassef Sawiris of Egypt followed Dangote with $8.5 billion net worth with the majority of his investments coming from construction and other investments.
In third place was Nicky Oppenheimer of South Africa with an $8 billion total net worth.
Portland Paints, Chemical and Allied Products Plc Agreed to Merge
Portland Paints and Products Nigeria Plc and Chemical and Allied Products Plc have agreed to merge, according to the latest statement from both companies.
In a statement released through the Nigerian Stock Exchange, the Board of Directors of CAP said we are “pleased to inform you that following discussions and negotiations, the Boards of CAP and Portland Paints have reached an agreement to undertake a merger between both entities (the “Merger” or the “Proposed Merger”).
Accordingly, we “hereby present to you the terms and benefits of the Proposed Merger for your consideration and seek your support and approval to effect the Proposed Merger.
“The Proposed Merger presents a compelling opportunity to create significant value for shareholders of CAP and achieve the company’s strategic growth objectives as a larger company with a broader product portfolio, more corporate owned brands and diversified revenues.
“The resultant entity is also expected to benefit from enhanced distribution capabilities in addition to economies of scale and operational efficiencies.”
Tony Elumelu Acquires Shell, Total, ENI Stakes in OML 17
Tony Elumelu owned Heir Holdings Limited and its related company Transnational Corporation of Nigeria Plc on Friday announced it has completed the purchase of 45 percent stake in Oil Mining Lease (OML 17) through TNOG Oil and Gas Limited.
The acquisition includes all assets of Shell Petroleum Development Company of Nigeria Limited (30 Percent), Total E&P Nigeria Ltd (10 percent) and ENI (five percent) — in the lease.
It was further stated that TNOG Oil and Gas Limited will also have the sole right to operate OML 17.
The field presently has a production capacity of 27,000 barrels per day. Also, there are estimated 2P reserves (proven and probable) of 1.2 billion barrels and an additional one billion barrels in possible reserves — all of oil equivalent.
A consortium of global and regional banks and investors provided a financing component of $1.1 billion for the largest oil and gas financing in Africa in over a decade.
In a statement released on Friday, Shell said the completion was after all the necessary approvals have were received from authorities.
“A total of $453m was paid at completion with the balance to be paid over an agreed period. SPDC will retain its interest in the Port Harcourt Industrial and Residential Areas, which fall within the lease area,” the SPDC said.
Speaking after the completion of the deal, Elumelu said “We have a very clear vision: creating Africa’s first integrated energy multinational, a global quality business, uniquely focused on Africa and Africa’s energy needs. The acquisition of such a high-quality asset, with significant potential for further growth, is a strong statement of our confidence in Nigeria, the Nigerian oil and gas sector and a tribute to the extremely high-quality management team that we have assembled.
“As a Nigerian, and more particularly an indigene of the Niger Delta region, I understand well our responsibilities that come with stewardship of the asset, our engagement with communities and the strategic importance of the oil and gas sector in Nigeria. We see significant benefits from integrating our production, with our ability to power Nigeria, through Transcorp, and deliver value across the energy value chain.
“I would like to thank Shell, Total and ENI, for the professionalism of the process, the Federal Government of Nigeria, the Ministry of Petroleum Resources, and the NNPC for the confidence they have placed in us.”
Tony Elumelu is the Chairman of Heirs Holdings Limited, Transcorp and United Bank for Africa Plc.
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