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LAPO MfB Wins Microfinance Bank Of The Year

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LAPO MfB Wins Microfinance Bank Of The Year

Olushola Okunlade Writes

LAPO Microfinance Bank Limited, (LAPO MfB) a premium microfinance institution in Nigeria, was nominated and won the “Microfinance Bank of the Year”  2022 in the 10th edition of the Businessday Banks’ and other Financial Institutions’ (BAFI) Awards event.

Left-Right: Collins Micheal, Head, Public Sector, LAPO MfB, Stephen Ehigiamusoe, GOBETH Reliance Company, Oluremi Akande, Head, Communications & Branding, Dr. Ogho Okiti, Managing Director, BusinessDay Media Ltd. Dorcas Thorpe, Head, Corporate Planning, LAPO MfB.
LAPO MfB Wins Microfinance Bank Of The Year
Left-Right Stephen Ehigiamusoe, GOBETH Reliance Company, Oluremi Akande, Head, Communications & Branding, LAPO MfB, Dorcas Thorpe, Head, Corporate Planning, LAPO MfB, Collins Micheal, Head, Public Sector, LAPO MfB.
In 2019, the Southern Swamp Associated Gas Solutions project was commissioned, and the SPDC JV is planning to reduce associated gas flaring further through its Forcados Yokri gas-gathering project, of which large parts are set to be completed in 2022. Despite such efforts to reduce continuous flaring, unfortunately flaring intensity (the amount of gas flared for every tonne of oil and gas produced) at both SPDC- and SNEPCo-operated facilities increased in 2021 owing to short-term operational issues. Flaring from SPDC-operated facilities increased by around 5% in 2021 compared with 2020. The increase was primarily because of the extended outage of the gas compression system in SPDC’s shallow-water operations. The system was restored and became operational from January 2022. Flaring at SNEPCo-operated facilities rose by around 160% in 2021 compared with 2020. This was mainly because of an increase in flaring on the Bonga floating production, storage and offloading (FPSO) vessel. Repairs to a flex-joint on the Bonga FPSO’s gas export riser in the second quarter took longer than expected, in part because of weather conditions. While repairs were under way, the FPSO continued to produce oil and therefore flaring was necessary for safety reasons. The repairs were safely concluded in July 2021. Although flaring intensity levels rose in 2021, SPDC and SNEPCo over the last 10 years have almost halved the combined amount of hydrocarbons they flare from 1.5 million tonnes in 2012 to 0.8 million tonnes in 2021. This reduction is the result of a strict flaring reduction management process and both SPDC and SNEPCo will continue to work in close collaboration with joint-venture partners and the government to make progress towards ending routine flaring of associated gas. NIGERIA LNG EXPANSION UNDERWAY Global demand for LNG continues to grow as the world increasingly seeks reliable supplies of lowercarbon energy. Shell’s investment in Nigeria’s gas infrastructure for export is expected to help 6 This is according to a data provided by global research and consultancy business Wood Mackenzie. the country benefit further from revenues. Shell Gas B.V. and its partners took a final investment decision in 2020 on a new LNG processing unit – known as Train 7 -- at NLNG. The expansion is expected to create around 12,000 jobs for Nigerians during construction and stimulate growth of the local oil and gas service sector, with 55% of engineering and procurement of goods and services being sourced in-country. Train 7 is expected to ensure Nigeria’s continued place as a global player in a lower-carbon energy source. Once operational, Train 7 will add around 8 million tonnes per annum of capacity to the Bonny Island LNG facility, taking the total production to around 30 million tonnes per annum. In 2021, NLNG began awarding procurement and construction contracts. Early works started at the site. The first phase of the worker village is expected to be ready for occupancy in 2022 and the new material offloading facility ready for use by the end of 2022. NLNG’s Train 7 is expected to come onstream in the middle of the 2020s. KEY LICENCE RENEWED FOR DEEP-WATER SNEPCo has interests in four deep-water blocks in the Gulf of Guinea, two of which it operates. Today, nearly one-third of Nigeria’s deep-water oil and gas production comes from the Bonga and the nonoperated Erha fields.6 Since production began in 2005, Bonga alone has produced more than 950 million barrels of oil with the 2021 average oil production per day at 105,000 barrels. The Bonga FPSO vessel has a total production capacity of 225,000 barrels of oil per day and 150 standard cubic feet of gas export per day. In 2021, the availability of the FPSO vessel increased to 80% from 70% in 2020. In addition to Bonga, SNEPCo’s exploration activities have led to several significant discoveries of oil and gas over the last two decades, including the Bolia and Doro fields (Shell interest 55%). Nigeria Briefing Notes Helping to power Nigeria’s economy 13 In the right investment climate, SNEPCo believes that there are opportunities to expand. In 2021 the OML 118 (Bonga) production sharing contract was renewed and the lease extended for 20 years. Bonga North and Bonga South West Aparo (BSWA) oil fields are two such potential opportunities. Bonga North is a proposed tie-back project to the existing Bonga FPSO with Phase 1 comprising 14 wells. BSWA is a development of a new FPSO with Phase 1 comprising 23 wells. SUPPORTING RENEWABLE ENERGY STARTUPS Millions of Nigerians are excluded from the country’s power grid and Shell Companies in Nigeria have established and provided substantial funding for a not-for-profit, impact-investing company called All On. Operating as an independent company, All On works to bring reliable electricity – often from renewable energy sources -- to off-grid urban and rural customers. This support aims to build a solid pipeline of viable businesses that can create the scale required to address Nigeria’s access to energy gap. In December 2019, SPDC and SNEPCo made a significant additional 10-year financing commitment of $160 million in All On, bringing the total commitment to $200 million. By the end of 2021, All On had provided investment capital to over 40 renewable energy start-ups in its portfolio – an increase of more than 30% from 2020. One such company is Infibranches Technologies Limited, to which All On has committed $2 million, which is expected to enable the indigenous technology company to expand sales of solar home systems via its more than 13,000 agent banking partners across Nigeria. With the support of the Rockefeller Foundation, the All On Hub was established in 2020 to provide nonfinancial support and build the capabilities of off-grid energy entrepreneurs. In 2021, the hub supported 81 ventures – nearly double the 41 supported in 2020. Also in 2021, All On, Odyssey Energy Solutions and the Global Energy Alliance for People and Planet launched a $10 million equipment financing facility as part of the DART pilot programme in Nigeria. 7 Hydraulic flying leads support the delivery of hydraulic fluid and/or chemicals between subsea equipment. 8 Subsea trees are an assembly of valves and other components used to monitor and control the production of a subsea well. DART will combine demand pooling, aggregated purchasing of solar equipment, and access to affordable finance to unlock economies of scale for solar companies, achieve cost savings for end-users, and accelerate the growth of the renewable energy sector in Nigeria and beyond. DEVELOPING LOCAL CONTENT AND SKILLS Shell Companies in Nigeria contribute to the growth of Nigerian businesses that can provide technical and support services to the industry. This includes the manufacture of tools and technical kits, the operation of helicopter flights in the Niger Delta, and strategic partnerships between foreign and local companies to stimulate technology transfer and capacity development. While there are government-required programmes in some areas, such as the Nigerian and Community Content Strategy embedded in the Assa North/Ohaji South gas development project, Shell Companies in Nigeria deliberately seek to contract local businesses wherever possible. In 2021, Shell Companies in Nigeria awarded $800 million worth of contracts to Nigerian-registered companies. Of these, 92% were companies with at least 51% Nigerian ownership. SNEPCo has awarded major engineering and construction contracts to companies that are indigenous, have local staff, or possess domestic capabilities in the country. At present, the manufacture and rebuild of hydraulic flying leads7 (HFLs) is being carried out in-country by wholly indigenous companies. Pressure Controls Systems Nigeria Limited, another Nigerian company, continues to refurbish old subsea trees.8 Sometimes, a lack of access to capital hinders Nigerian companies from competing for and executing contracts effectively. Shell Companies in Nigeria have provided access to nearly $1.6 billion in loans to 901 Nigerian vendors under the Shell Contractor Support Fund since 2012. These loans help improve their tendering opportunities.

In a press release, Oluremi Akande, Head, Communications & Branding, said “LAPO MfB has won this award category for the 9th consecutive time; a recognition of LAPO’s industry leadership and its consistency in the delivery of its core mandate of social and economic empowerment of members of low-income households, through the provision of responsive financial services and social interventions impacting lives and communities in a sustainable manner”.

“This award is dedicated to our loyal Clients, resilient and committed Staff, Board, and Management of the microfinance bank for providing sound and strategic leadership in line with the vision of the institution”

LAPO MfB remains committed to its over 30 years mandate of social and economic empowerment of members of low-income households and owners of micro small medium enterprises in a sustainable way.

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Visionary Tech Leader Gozy Ijogun Appointed As New Managing Director of Task Systems Ltd

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Visionary Tech Leader Gozy Ijogun Appointed As New Managing Director of Task Systems Ltd

…Eyes Leadership in African Technology Sector

 

Task Systems Limited, a pioneering force in the West African Information and Communications Technology (ICT) sector, has announced the appointment of Mrs. Gozy Ijogun as its new Managing Director effective April 1, 2023.

 

Gozy Ijogun, known for her transformative leadership, has a rich professional history in the digital technology realm. At the age of 25, armed with a degree in Chemistry from University College London and a Master of Science degree in Accounting, Organizations, and Institutions from the London School of Economics, Gozy made a significant impact on the digital landscape of Nigeria by setting up TD-Mobile, Nigeria’s first structured mobile devices distribution company. She propelled the company to generate a substantial N38 billion in revenue within its first year of operation, guiding the organization from its initial team of seven to become TD Africa Distributions Ltd., now a dominant player in technology distribution in sub-Saharan Africa, representing more than 25 top global brands and introducing a plethora of ICT solutions that consolidated its standing as a solutions-focused tech firm.

 

“Gozy’s proven leadership, strategic acumen, and passion for technology make her the perfect fit for Task Systems Ltd,” Leo Stan Ekeh, Chairman of Task Systems Ltd said. “Her impressive track record and innovative vision align seamlessly with our growth trajectory. We are excited to usher in this new era under her stewardship.”

Visionary Tech Leader Gozy Ijogun Appointed As New Managing Director of Task Systems Ltd

Mrs. Gozy Ijogun, New Managing Director.

Reflecting on her appointment, Gozy said, “I’m honoured to join Task Systems, a company that has consistently been at the forefront of tech innovation. We have a remarkable opportunity to grow and become Africa’s leading integrated technology and services company, and I am enthusiastic about leading Task Systems into this future.”

 

Besides her commercial accomplishments, Mrs. Ijogun is also deeply committed to social change. She was instrumental in launching “This is Me”, a Corporate Social Responsibility initiative championed by TD Africa to aid individuals and uplift their dignity.

 

With 36 years of industry leadership, Task Systems has consistently provided innovative ICT solutions across various industries, including oil, banking, media, manufacturing, and the public sector. The company has received over 27 global awards for its exceptional contributions.

 

With the visionary leadership of Mrs. Ijogun, Task Systems is poised for unprecedented growth and success.

 

Know About Task Systems Ltd: For over three decades, Task Systems has been a pioneer in the tech sector, introducing revolutionary ICT solutions across a broad spectrum of industries. Known for its trailblazing contributions, Task Systems remains a significant player in providing support solutions to numerous Nigerian companies.

 

 

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Airtel Employees Give Students Reason To Imagine, Provides Access To Digital Education

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Airtel Employees Give Students Reason To Imagine, Provides Access To Digital Education

Rashidat Okunlade Writes

Employees of Airtel Nigeria, under its CSR initiative, Employee Volunteer Scheme Initiative, paid a visit to Kuramo College, a government secondary school in Lagos, and donated modern routers, each equipped with 100GB of data and a two-month roll-over access fee.

The connection devices were donated by Airtel’s Information and Technology team, with a mission to empower students with enhanced digital connectivity.

Speaking during the event, Director, Information and Technology, Seun Solanke, said, “Airtel aims to empower young minds by equipping them with the connectivity to imagine and unlock a world of knowledge and opportunities.

“For Airtel, it is no longer about being a smartphone network but giving people a reason to imagine, so that people can explore the possibilities powered by technology and connectivity. The world is evolving, young Nigerians now have access to unlimited possibilities and can now create their own job titles and descriptions, which is why we now have YouTubers, social media Influencers, and the likes.”

Airtel Employees Give Students Reason To Imagine, Provides Access To Digital Education

Left-Right: Head of IT Operations, Airtel Nigeria, Adebanjo Adeola; Head of Information Security & Business Continuity (IT CISO), Airtel Nigeria, Joy Omoruku; Director, Information and Technology, Airtel Nigeria, Seun Solanke; Principal, Kuramo Senior College, Abdulwahab Babatunde Lawal and Head of Project Release Management, Airtel Nigeria, Akinkunle Oyafajo during the presentation of Routers to Kuramo college in Victoria Island, Lagos, on Wednesday, 24th May 2023.

 

Airtel Employees Give Students Reason To Imagine, Provides Access To Digital Education

Left-Right: Head of IT Operations, Airtel Nigeria, Adebanjo Adeola; Senior Manager, Corporate Social Responsibility, Airtel Nigeria, Chioma Okolie; Head of Information Security & Business Continuity (IT CISO), Airtel Nigeria, Joy Omoruku; Director, Information and Technology, Airtel Nigeria, Seun Solanke; Principal, Kuramo Senior College, Abdulwahab Babatunde Lawal and Head of Project Release Management, Airtel Nigeria, Akinkunle Oyafajo during the presentation of Routers to Kuramo college in Victoria Island, Lagos, on Wednesday, 24th May 2023.

He concluded by encouraging the students to maximize the provision of connectivity to back up their future imaginations with the right information and resources, in other to ensure a bright future.

The activities under the Airtel Nigeria Employee Volunteer Scheme, said Airtel management, aligns with the company’s commitment to bridging the digital divide in the country and enabling students to leverage the power of the internet, as the distribution of routers with data plans will ensure that students have uninterrupted access to educational resources, research materials, and online learning platforms, regardless of their socio-economic background.

 

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Stanbic IBTC Announces 2023 University Scholarship Award Scheme, Benefiting 200 Exceptional Nigerian Students

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Africa Trade Barometer Report 2022 Showcases Promising Growth in Trade - Stanbic IBTC

Rashidat Okunlade Writes

Stanbic IBTC Holdings PLC, a member of Standard Bank Group, announced the names of fortunate recipients of its prestigious University Scholarship Award for 2022.

The N80,000,000.00 valued scholarship award for 2022 will provide financial support to 200 outstanding Nigerian undergraduates who excelled in the 2022 University Tertiary Matriculation Examination (UTME) and satisfied other prerequisite conditions.

The scholarship funds will be disbursed in annual installments over the course of four academic years and will provide recipients with the essential financial assistance required to meet their educational expenses. Subsequent disbursements will be contingent upon the beneficiaries fulfilling certain criteria. These criteria include maintaining their enrollment in the universities and degree programs to which they were admitted, as well as adhering to the academic and administrative policies set forth by their respective institutions. By ensuring compliance with these requirements, the recipients can continue to receive the scholarship throughout their academic journey, facilitating their uninterrupted pursuit of higher education.

While he gave his opening remarks at the virtual award ceremony, the Chief Executive of Stanbic IBTC Holdings, Dr. Demola Sogunle, said, “At Stanbic IBTC, we recognize the importance of education and its role in shaping the future of our great nation, Nigeria. Our principal objective for this scholarship is to provide unlimited opportunities for bright, young Nigerians who have demonstrated academic merit.”

He further mentioned that the number of annual scholarship recipients was increased from 100 to 200, as education should not be a luxury reserved for a select few but accessible to all.

The selection process for the scholarships was rigorous and fair, with beneficiaries chosen from each of the six geo-political zones in Nigeria. The candidates were carefully evaluated based on merit, taking into account their exceptional academic performance.

By investing in the academic journeys of these exceptional students, the leading end-to-end financial institution will not only make a difference in their lives but also contribute to the development and prosperity of the nation as a whole.

The 200 scholarship recipients will be able to pursue their dreams with financial confidence, knowing that Stanbic IBTC will stand firmly by their side.

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