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Waste Managers Lament State of Lagos Dumpsites

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  • Waste Managers Lament State of Lagos Dumpsites

Wastes may soon find their way back to Lagos streets and roads as major dumpsites across the state have become unmanageable in recent times, waste managers have said.

When our correspondent visited one of the landfills at Igando area of the state on Friday, it was observed that the roads to the major dump areas had become almost impassable and truck drivers were in a queue to enter the dumpsite and empty their trucks, stretching up to the nearby general hospital.

One of the truck drivers, who spoke on the condition of anonymity, said he slept in his vehicle overnight, and as of 11am, he had yet to dump the waste he brought to the site.

He said, “This affects our efficiency as waste managers because our vehicles spend days just trying to evacuate wastes, meaning that we are not able to go back and pick more wastes, which we used to do about three to four times daily, and our clients are complaining.

“We used to have one long queue in the past and it was manageable; but now, everything has become chaotic that trucks even park on the road. The other day, I got here by 11am and did not leave until 6pm.”

According to him, apart from the delay, the slippery roads leading to the dumpsites damage the trucks, adding that some waste managers had lost their trucks in the process.

Another driver, who gave his name as Babatunde, said it had become impossible for him to plan his day because of the delays, adding that on the average, he spends six hours daily at the dumpsite.

Explaining the reason for the delays, Babatunde said the Olusosun landfill had four bulldozers that push the wastes into the pits as they are dumped, but the number had been reduced to one or two sometimes.

“These are the same bulldozers that are used to push our trucks whenever they sink in the muddy road, and they damage the trucks in the process because they are not designed for that kind of job,” he said.

Our correspondent gathered that the state government had the responsibility of managing the Olusosun and Igando landfills, the two major dumpsites in the state, but recently outsourced it to private companies due to the financial burden.

Some stakeholders who spoke said the companies introduced a fee of N2, 000 every time a truck comes to dump refuse so as to help manage the sites.

The consultant to the Association of Waste Managers, Mr. Lekan Owojori of Wellbeck Consulting Limited, told our correspondent, “We agreed reluctantly, but our vehicles still spend days just trying to evacuate wastes. The N2,000 was supposed to improve services but we haven’t seen any improvement.

“The nature of the job is that a vehicle should not spend more than 20 minutes so that more wastes can be collected. A driver should be able to make three trips a day or more.”

The waste managers also alleged that some security operatives had been employed from the Odua Peoples Congress to guard the sites, but that they derived pleasure from harassing truck drivers whenever they complained about the long queue.

“Whenever I visit Olusosun, even if I spend eight hours, I try to comport myself because I don’t want anybody to harass or beat me up,” a driver said.

He said a number of truck drivers had been beaten up and hospitalised in the past for trying to force their way into the dumping area.

Owojori said, “We have complained to the government that the quality of service at the dumpsites has not improved and it is delaying our turnaround time. Over the years, we have had issues with the dumpsites, but the last administration spent a lot to keep the sites running and in good order.

“The government was spending about N300m per month before the concession, then we would dump our wastes and about four or five caterpillars will push the waste into the pit. But now, there are just about one or two caterpillars servicing these pits and we are spending a lot of time. We now have trucks that wait for two to three days.”

He added that the waste managers had not been able to get the state government to help improve the situation even after writing to Governor Akinwunmi Ambode.

“We wrote a letter before the raining season started and the governor replied us that the attempt to deal with it was why the sites were given out on concession, but the situation has worsened with the raining season,” he said.

The General Manager, Lagos State Waste Management Authority, Mr. Segun Adeniji, told our correspondent that it had been difficult managing the dumpsites because of the rains.

According to him, there are plans by the government to reengineer the dumpsites to global standards.

“Government has a lot of plans for the dumpsites; we are working on well-engineered dumpsites but before then, we have to use these ones and manage them as they are. Managing dumpsites during the raining season is difficult; all efforts put in by the managers to put it right have been abortive but there will soon be sanity,” he said.

On the issue of security operatives beating up drivers at the dumpsite, Adeniji stated that no formal complaint had been made, adding that when concessionaires took over in April a case was reported at Olusosun and was addressed.

“So far, we have not heard about anybody being beaten up; if there is anything like that, no one has told us yet,” he said.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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DLM Trust Unveils DLM Single Asset Trust

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DLM Capital Group

DLM Trust, a subsidiary of DLM Capital Group is thrilled to announce the launch of DLM Single Asset Trust.

The model is a variant of the Living Trust construct that allows for a groundbreaking solution for individuals or Corporations seeking to settle assets into a trust, for the benefit of themselves and their chosen beneficiaries.

The DLM Single Asset Trust guarantees that peoples’ assets are protected and managed in accordance with their intentions by operating under the tenets of trust, security, and careful management. The DLM SAT offers a novel approach to trust services by fusing state-of-the-art technology with knowledgeable advice to enable people and families effortlessly manage their assets.

DLM SAT enables individuals, often referred to as Settlors, to create a single asset trust that will serve both their own and their designated beneficiaries’ purposes. The Trust Fund may be started using the Settlor’s assets/funds and then expanded with future contributions in accordance with the Settlor’s goals. Only authorised individuals, including the settlor, can access the trust because of its strong independent and confidentiality level. DLM Trust Company holds the Fund in trust and manages it for the benefit of the Settlor and designated Beneficiaries.

In a statement, MD of DLM Trust, Lola Razaaq commented on the introduction of the DLM Single Asset Trust, stating that it is a means of establishing a timeline for legacy preservation. “The DLM SAT is our newest offering, and we are thrilled to announce this important milestone for DLM Trust.” The aim of our organisation is to equip people and families with the necessary resources and assistance to safeguard and maintain their heritage for future generations. “Furthermore, we are transforming the concept of future planning with DLM Single Asset Trust.” she said.

DLM Trust Company Limited is registered with Securities and Exchange Commission (SEC) and incorporated under the Companies and Allied Matters Act to provide trust services to individuals, corporations, sub-sovereign entities. As always, strategic thinking and innovation will be combined by DLM Trust Company to offer its clients best-in-class services. Since its founding, DLM Trust has worked on a variety of creative and unique transactions, including securitizations, private and public bonds.

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Shell’s $2.4bn Asset Sale Under Close Scrutiny

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Shell

The proposed $2.4 billion asset sale by energy giant Shell to Renaissance Africa Energy has become the focal point of intense scrutiny as the Federal Government of Nigeria aims to ensure transparency and regulatory compliance in the transaction.

The deal has sparked widespread interest and raised questions about its implications for the country’s energy landscape.

Shell, a prominent British energy major with a century-long history of operations in the Niger Delta, announced in January its intention to divest its Nigerian onshore subsidiary, Shell Petroleum Development Company of Nigeria Limited, to Renaissance Africa Energy.

This landmark agreement, if finalized, would represent a pivotal moment in Nigeria’s energy sector dynamics.

Renaissance Africa Energy, a consortium comprising five companies, including four Nigerian-based exploration and production firms and an international energy group, has confirmed its participation in the deal.

The consortium’s involvement underscores its strategic positioning to capitalize on Nigeria’s vast energy resources and contribute to the country’s economic development.

The proposed transaction, however, is contingent upon approvals from the Federal Government of Nigeria and other relevant regulatory bodies.

To ensure adherence to regulatory protocols and safeguard national interests, the government has initiated a comprehensive due diligence process, commencing with a high-level meeting held on Monday.

Parties involved in the deal, alongside officials from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), convened in Abuja for a thorough examination of the transaction details.

Gbenga Komolafe, the Chief Executive of NUPRC, outlined the government’s objective to conclude the divestment exercise by June, underscoring the importance of timely and meticulous evaluation.

Komolafe revealed that the government has enlisted the expertise of two globally renowned consulting firms, S&P Global and the BCG Group, to facilitate the due diligence process.

These consultants, recognized for their proficiency in financial analysis and regulatory compliance, will collaborate with NUPRC to ensure that the transaction aligns with industry best practices and regulatory standards.

The due diligence meeting served as a forum to discuss the proposed divestment of Shell’s participating interests in the SPDC JV assets, which are currently operated by the Shell Petroleum Development Company of Nigerian Limited.

These assets, awarded as Oil Exploration Licence-1 in 1949, have played a pivotal role in Nigeria’s hydrocarbon industry, contributing significantly to the nation’s crude oil and gas output.

With an estimated total reserve of nearly 5 billion barrels of oil and extensive gas resources, the SPDC JV assets hold immense strategic importance for Nigeria’s energy security and economic prosperity.

However, as Nigeria seeks to optimize its energy sector operations, the selection of a responsible and capable successor to manage these assets remains paramount.

As discussions continue and the due diligence process unfolds, stakeholders remain optimistic about the prospects of the deal.

Representatives from Shell, Renaissance Africa Energy, and regulatory authorities expressed their commitment to ensuring a transparent and seamless transition, with the overarching goal of advancing Nigeria’s energy sector agenda.

The outcome of the scrutiny surrounding Shell’s $2.4 billion asset sale will not only shape the future of Nigeria’s energy landscape but also demonstrate the country’s commitment to fostering a conducive investment environment and promoting sustainable development in the oil and gas sector.

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POS Terminal Deployment in Nigeria Hits 2.68 Million in March 2024

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POS Business in Nigeria

The total Point of Sale (POS) terminals deployed across Nigeria have now reached 2.68 million as of March 2024.

According to data released by the Nigeria Inter-Bank Settlement System (NIBSS), this represents a Year-on-Year (YoY) growth rate of 47.36% and reflects the accelerating pace of digitalization within the nation’s financial sector.

The proliferation of POS terminals signals a fundamental shift towards cashless transactions, as businesses and consumers increasingly embrace the convenience and efficiency offered by digital payment solutions.

This surge in adoption highlights the growing reliance on technology to facilitate financial transactions, driving innovation and transforming the way commerce is conducted across various sectors of the economy.

Breaking down the figures, January 2024 saw a deployment of 2.47 million POS terminals, representing a significant YoY increase of 50.61% compared to the same period in 2023.

Similarly, February 2024 witnessed a surge in deployment with 2.58 million POS terminals, marking a YoY growth rate of 54.49% compared to February 2023.

While these numbers paint a picture of rapid expansion, a closer examination reveals that there are over a million registered POS terminals yet to be deployed or taken up by merchants.

In January 2024, the number of registered terminals reached 3.44 million, rising from 2.31 million in 2023. February and March continued this trend, with registered terminals reaching 3.6 million and 3.73 million respectively in 2024.

The increase in registered POS terminals underscores the potential for further expansion and utilization within Nigeria’s digital payment landscape.

As the number of terminals continues to grow, there is a clear indication of the country’s readiness to embrace cashless transactions on a broader scale, paving the way for increased financial inclusion and efficiency.

Industry stakeholders view this surge in POS terminal deployment as a positive step towards realizing Nigeria’s vision of becoming a digital economy powerhouse.

However, challenges such as infrastructure development, regulatory frameworks, and merchant adoption still need to be addressed to fully harness the potential of digital payments in driving economic growth and development.

As Nigeria moves towards a cashless future, collaboration between the public and private sectors will be crucial in overcoming these challenges and ensuring that the benefits of digitalization are accessible to all segments of society.

With the continued expansion of POS terminal deployment, Nigeria is poised to emerge as a leader in digital payments innovation, transforming the way transactions are conducted and driving economic progress in the process.

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