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Category: Economy

  • Regularisation amnesty: Property owners, developers complying – LASG

    Compliance
    By Rukayat Adeyemi
    LASPPPA officials at a campaign on the 90-day amnesty period offered by LASG for regularisation of building permits.
    Lagos, June 7, 2024 (NAN) The Lagos State Physical Planning Permit Authority (LASPPPA), on Friday, said that property owners and developers were complying with the 90-day amnesty period offered for building regularisation.
    The News Agency of Nigeria (NAN) reports that  the state Gov. Babajide Sanwo-Olu of Lagos State  approved s 90-day amnesty period, effective May 2, for house owners and developers within the state to obtain requisite building permits for their property.
    The General Manager of LASPPPA, Mr  Kehinde Osinaike, confirmed the compliance at a campaign embarked upon by LASPPPA officials across the state to further educate the public on the need to obtain their building permits.
    Osinaike, also a town planner, commended Lagos residents who had approached the authority to regularise their physical planning approvals since the opening of the amnesty window.
    According to him, the turnout has been encouraging.
    “I can say that we have witnessed an impressive level of compliance from building owners since the programme started on May 2.
    “However, so many people who are yet to take advantage of this opportunity can still do that from now till the end of July,” he said.
    Osinaike said that the amnesty window was  to ensure that buildings would be constructed correctly and that necessary fees for physical planning purposes  paid to the government.
    On the possibility of extending the amnesty window, the general manager said that only the state governor had the prerogative to make the review.
    He said that the three-month period was enough for the residents to perfect their planning approvals.
    According to him,  the process is seamless, affordable and achievable within three months.
    Osinaike advised the residents to liaise with district officers of LASPPPA in their respective local government areas  and local council development areas for guidance, adding that they should avoid touts or any third party agent.
    The general manager listed documents required for processing building approval to include title document/ proof of ownership, survey plan, as-built architectural drawings, structural, electrical and mechanical drawings, and non-destructive integrity test report, where applicable.
    He said that the other documents included letter of structural stability and indemnity, where aplicable, land use planning analysis report and other supporting documents, where applicable, including evidence of tax payment.
    The state Commissioner for Physical Planning and Urban Development, Dr Oluyinka Olumide, acknowledged the tenacity of LASPPPA in ensuring that Lagos residents  were fully aware of the amnesty period.
    Olumide, represented by Mr Taiwo Fesomu, Director of Administration and Human Resource, Office of Physical Planning, Lagos State, urged the authority not to rest on its oars in ensuring that more house owners and developers would take advantage of the window.
    Olumide said that the state government, through the approval of the amnesty window without payment of a penalty, had  proven to have  a human face.
    The commissioner said: “I want to implore Lagosians not to allow this amnesty window to pass them by.
    “This gesture from the state government shows that the administration of Gov. Sanwo-Olu does not want anyone to lose his or her property but wants everyone to conform with laws guiding physical development in the state.
    NAN reports that the sensitisation campaign organised by LASPPPA started from its headquarters at GRA, Ikeja, through Ikeja Under Bridge and Obafemi Awolowo Way, to Alausa Secretariat and Maryland and some other parts of the state.
    LASPPPA staff distributed flyers to residents and sensitised them about the need to take advantage of the amnesty opportunity.(NAN)(www.nannews.ng)
    RUKY/IGO
    =========
    Edited by Ijeoma Popoola

  • N180bn debt: EEDC to disconnect Government Houses, CBN, army, others

    N180bn debt: EEDC to disconnect Government Houses, CBN, army, others

    Electricity
    By Stanley Nwanosike
    Enugu, June 7, 2024 (NAN) The Enugu Electricity Distribution Company (EEDC) has threatened to begin to disconnect Government Houses, Central Bank of Nigeria (CBN) offices, Nigerian Army and others in the South-East allegedly owing the company.

    The company issued the threat in a statement signed by it’s Head of Corporate Communications, Mr Emeka Ezeh, and made avaible on to newsmen in Enugu on Friday.

    Eze stated that the listed organisations were indebted to the company to the tune of over N180 billion for energy consumed.

    He argued that the planned disconnection was part of the company’s strategies to recover its money.

    He listed the affected defaulters to include the Enugu State Government, Ebonyi Government, Anambra Government, Abia Government, Imo Government; Innoson Technical and Industries; University of Nigeria (Enugu and Nsukka Campuses) and Nigerian Bottling Company.

    Others are the Nigerian Army, Nigeria Police, Nigerian Air-Force, Nigerian Navy, Nigeria Railway Corporation, National Drug Law Enforcement Agency; UNTH Ituku-Ozalla; Ebonyi State University; Coal Corporation Quarters and Federal Secretariat and Establishments.

    “We are also disconnecting GMO Rubber Division; Nnamdi Azikiwe University, Awka; Ebonyi State Government’s Ecumenical Centre One; Nigeria Prisons Training School; CBN offices; M/S Concorde Hotel, Owerri and Federal Teaching Hospital, Abakaliki.

    Also included are Enugu High Court; Reliable Steel and Plastic Industries Ltd; Jilnas Industries; BENGAS Nigeria Ltd; CIFO Petroleum Ltd; STANEL Filling Station, Highlift Pumping Station; FINOC Industries Ltd; Aluminium Extrusion Industries Ltd. and VIN VAL Ltd.

    The rest are Local Government offices; St. Davids Porter Nigeria Ltd; Gees Denver Company Limited; the Federal Ministry of Works, Hospitals Management Board and DONLINK Plastic Industries, among many others,” he said.

    The EEDC spokesman warned that effective from June 10, 2024, the company would commence massive disconnection of supply to the customers and others with outstanding bills.

    “This exercise has become necessary, considering the huge (over N180 billion) unpaid electricity bills and accrued arrears,” he added.

    According to him, the situation has consistently put the company in a precarious revenue deficit position, making it difficult to meet its power purchase obligations.

    “For EEDC to continue to provide services to its esteemed customers, it is pertinent that electricity bills, which are for energy already consumed, are paid in full.

    “If this is not done, it will be difficult for the company to suatain its operations to serve customers and enhance the quality of service,” Eze said.

    He, therefore, appealed to the affected customers to endeavour to clear their arrears on or before June 10, to avoid being disconnected.

    He noted that the notice of disconnection applied to all the categories of customers (Maximum Demand and Non-Maximum Demand) that were indebted to EEDC. (NAN)(www.nannews.ng)

    KSN/USO
    Edited by Sam Oditah

  • 4 vessels to berth at Lekki Deep Sea Port

    4 vessels to berth at Lekki Deep Sea Port

    Vessel

    By Aisha Cole

    Lagos, June 7, 2024(NAN) The Nigerian Ports Authority (NPA), on Friday, said four ships were expected to berth at the Lekki Deep Sea Port.

    NPA, in its “Daily Shipping Position”, said four expected vessels would berth with bulk clinker, Fue oil, diesel and aviation fuel.

    It stated that three of the vessels would berth with containers,  while one vessel is expected to berth with diesel.

    A total of 17 vessels expected to berth at Lagos ports on Friday adding that three of the vessels would berth with containers of different goods.

    “Two vessels will Berth with fresh fish.

    “The remaining 11 vessels are berthing with bulk wheat, pellet, general cargos, bulk salt, bulk gypsum and towing machine,” it said. (NAN).

    AIC /AWA
    ========

    Edited by Olawunmi Ashafa

  • Veritas Kapital earns N2.33bn profit in 2023

    Dr Adaobi Nwakuche, Managing Director/CEO, Veritas Kapital Assurance
    Profit
    By Rukayat Adeyemi
    Lagos, June 7, 2024 (NAN) Veritas Kapital Assurance Plc. has recorded an increase in its Profit After Tax(PAT) from N193.93 million in year 2022 to N2.33 billion for the financial year ended Dec.31, 2023.
    The insurance company revealed this in a statement made available to newsmen on Friday in Lagos.
    The company, having complied its financial statement with the IFRS 17-standard, recorded monumental year-on-year growth of N2.14 billion to set a new benchmark in the industry.
    The insurer stated that its net insurance and investment results soared by an 163 per cent, leaping from N1.46 billion in the previous year to N3.84 billion in 2023.
    The underwriter’s revenue also rose by 41 per cent, from N5.05 billion in 2022 to N7.10 billion in 2023, representing N2.06 billion increase.
    Commenting, Dr Adaobi Nwakuche, Managing Director/CEO of Veritas Kapital Assurance, expressed profound satisfaction with the company’s astronomical financial achievements.
    Nwakuche attributed the phenomenal success of the firm to strategic business decisions of judicious underwriting and investments,which generated substantial returns.
    She noted that this exceptional financial performance underscores the insurance firm’s unwavering commitment to enhancing shareholder value and revolutionising its business offerings to deliver an unparalleled customer experience.
    “The impressive growth in our financial metrics underscores our strategic focus on sustainable growth and value creation for our stakeholders.
    “Our commitment to smart underwriting and investments has yielded significant returns, reinforcing our position as a leading insurance provider in Nigeria,” she said.
    According to her, as part of the insurer’s strong financial performance, its group’s total assets increased from N17.25 billion in 2022 to N24.64 billion in 2023, indicating 43 per cent growth.
    The managing director stated that the underwriter’s shareholders’ funds also grew by 31 per cent, from N12.46 billion in 2022 to N16.37 billion in 2023.
    Nwakuche noted that Veritas Kapital’s remarkable financial performance in year 2023 demonstrated its resilience in navigating challenging economic conditions.
    She added that the company’s steadfast dedication to delivering value and ensuring the security of its customers’ interests solidifies its position as a dominant force in the Nigerian insurance industry.
    The managing director said: “As Veritas Kapital continues to build on its formidable financial foundation, clients and stakeholders can confidently rely on its financial strength and unwavering commitment to excellence.
    “The company’s dedication to providing comprehensive insurance solutions makes it a trusted partner in safeguarding its customers’ and stakeholders’ interests.
    “This extraordinary performance not only highlights Veritas Kapital’s financial triumphs but also serves as an inspirational beacon of strategic vision and resilience in the face of economic adversity,” she said. (NAN)(www.nannews.ng)
    RUKY/VIV
    ====
    Edited by Vivian Ihechu

  • ITF trains 146 youths in various skills on the Plateau

    ITF trains 146 youths in various skills in Plateau

    Training
    By Blessing Odega
    Jos, July 7, 2024 (NAN) The Industrial Training Fund (ITF), Jos Area Office, says it has trained 146 youths in various skills on the Plateau.

    Mr Wilfred Mukan, the Area Manager, ITF Jos Area Office, said this on Friday in Jos during the graduation ceremony of the 146 who were trained for three months.

    Mukan said that the training was done under the fund’s platform of the National Economic Recovery Growth Programme (NERGP) in Plateau State.

    He said the NERGP programme, which is under the Technical and Vocational Education and Training (TVET) component, sought to provide Nigerians with skills and knowledge under the National Vocational Qualification (NVQ) framework, thereby making them employable.

    The official said that the 146 were trained in six trade areas, namely plumbing and pipe fitting, carpentry, tiling, poultry farming, crop production and beauty care.

    He explained that the trained 146 went through two months of practical and hands-on training, and one month of internship to practicalise what they learnt.

    He said they were also taken through the Entrepreneurship Development Programme (EDP) to get the knowledge needed for starting up their own businesses.

    He added that “they have been assessed and appropriate certification issued to them to enhance their participation in the economic space of the country.”

    The area manager said that all the trainees would be given free Start-Up packs relevant to their field of training toward ensuring smooth take off of their business activities.

    In his remarks, Dr Afiz Ogun, the Director-General of ITF, tasked the beneficiaries to ensure that they made the best use of the skills acquired.

    Ogun, who was represented by Malam Ibrahim Yusuf, the fund’s acting Director for Technical, Vocational Skills Training Department, urged the trainees to cascade the skills learnt to others who would also be empowered via their skills.

    He cautioned the trainees against selling the start-up packs given to them.

    Mrs Victoria Gyang, one of the beneficiaries of the training, told the News Agency of Nigeria (NAN)
    that she was trained in plumbing and pipe fitting, and commended the fund.

    Gyang said she was a stay at home mother and unemployed, but the training had made her self reliant and in the near future an employer of labour.(NAN)(www.nannews.ng)

    UBO/HA
    ========
    Edited by Hadiza Mohammed-Aliyu

     

  • Katsina unveils e-tax billing system

    Tax

    By Abbas Bamalli

    Katsina, June 7, 2024 (NAN) The Katsina State Internal Revenue Service (KSIRS) has introduced a digital billing system for ease of taxation.

    The billing system code named: Pay-by-Yourself or (Biya da Kanka), is designed to encourage tax compliance and management.

    Alhaji Sada Shu’aibu, the Director, Corporate Communication of the service, said this in an interview with the News Agency of Nigeria (NAN), on Thursday in Katsina.

    He said the measure was imperative towards centralising tax payment and administration to enhance revenue generation.

    According to him, the system will enable taxpayers to register with the service, to know their tax status and also pay directly to the government’s coffers.

    “With the new system, tax payers can register, calculate and also pay their dues at their convenience through their mobile phones or laptops.

    “The aim is to block leakages in revenue generation to enable the government to execute projects that have direct impact on the people,” he said.

    He, therefore, urged tax payers to download the App for ease of transactions, as all revenue generating agencies had been synchronised on the platform. (NAN)( www.nannews.ng)

    AABS/RSA

    =========

    Edited by Rabiu Sani-Ali

  • Agusto & Co upgrades Wema Bank’s rating to Bbb+ on improved performance

    Rating
    By Rukayat Adeyemi
    Lagos, June 7, 2024 (NAN) A Pan-African credit rating agency, Agusto & Co, has upgraded Wema Bank’s rating from BBB to BBB+, following the bank’s strong 2023 financial  performance.
    Agusto & Co, also a leading provider of industry research and knowledge in Nigeria and Sub-Saharan Africa,
    also confirmed a stable outlook for the bank.
    This is disclosed in a statement issued by the bank on Thursday Lagos
    Among the outstanding results achieved by Wema Bank was a 196 per cent increase in Profit Before Tax (PBT) from N14.75 billion to N43.59 billion.
    This translated to higher pre-tax return on average equity (ROE) and pre-tax return on average assets (ROA) from 21.5 per cent to 43.9 per cent  and one per cent to 2.1 per cent respectively.
    The bank also recorded a 220.4 per cent increase in Profit After Tax (PAT) from N11.21 billion to N33.66 billion, 70.63 per cent increase in Gross Earnings from N132.30 billion to N225.75, 53.64 per cent.
    It recorded an increase in loans disbursed from N521.43 billion to N801.10 billion and a reduction in cost-to-income ratio (CIR) from 80.1 per cent to 64.4 per cent due to significant earnings growth despite economic fluctuations.
    The bank also posted 220.53 per cent increase in earnings per share from N87.2 to N279.5, among other indices.
    According to Agusto & Co, “The upgrade of Wema Bank’s rating to Bbb+ is underpinned by improved profitability despite macroeconomic headwinds, lower impaired loan ratio, better deposit mix, strong shareholders’ support as reflected in the successful rights issue exercise and perpetual bond issuance.
    “We have also attached an ESG score of ‘2’, reflecting our view that environmental, social, and governance issues have a minimal impact on Wema Bank’s rating”.
    Mr Moruf Oseni, Wema Bank’s Managing Director, expressed the bank’s gratitude to Agusto & Co for acknowledging the strong progress made by the bank.
    “Wema Bank is on a journey to the top and we are driven by a commitment to delivering exceptional value, exceeding expectations, and providing optimum returns to every stakeholder—shareholders, customers, employees, and partners alike.
    “It is this commitment that has reflected positively in our numbers and will propel our growth over the next decade”. (NAN)(www.nannews.ng)
    RUKY/AWA
    ==========
    Edited by Olawunmi Ashafa

  • Statistician-General calls for action to eradicate poverty in Nigeria

    Statistician-General calls for action to eradicate poverty in Nigeria

    Collaboration
    By Okeoghene Akubuike

    Abuja, June 6, 2024(NAN)Mr Adeyemi Adeniran, the Statistician-General of the Federation has called on stakeholders to take action to eradicate poverty in Nigeria.

    Adeniran, CEO, National Bureau of Statistics(NBS) said this at a Stakeholders Technical Dialogue on the “Operationalisation of the Multidimensional Poverty Index(MPI) as a Policy Tool in Nigeria” in Abuja on Thursday.

    He said results from the 2022 MPI survey showed Nigeria has 133 million citizens living in multidimensional poverty in spite of its vast resources and potential for exponential growth.

     

    “The MPI has given us a clear picture of what is happening in Nigeria. It has shown us that poverty in Nigeria is not merely a lack of income but a deprivation of health, education and living standards.

    “It is a daily struggle for clean water, adequate nutrition, safe housing and quality education for all genders and demography. But we have an opportunity to change the situation we are in.

    “We can no longer afford to look away, the MPI report has highlighted critical areas that demand our attention. It has illuminated a clear path for strategic recommendations to lift millions out of poverty.

    “We need your support and your contribution can turn this recommendations into reality.”

    Adeniran said the common fund basket that was used from 2021 to 2022 to conduct the MPI survey was empty, as he called for adequate funding for the proposed programmes.

    “The urgency we need to put in place programmes and projects to eradicate poverty is very urgent now.

    “Every second we delay to tackle this poverty, another child loses their chance for a better life, and another family struggles to make ends meet.

    “Our collective action is crucial in changing this narrative. Investing in these programmes is an investment in the future and our testament to our shared vision of a Nigeria where every citizen can live in dignity and opportunity.

    “We call upon you all present, international donor agencies, international and national development banks, philanthropists, business leaders, policymakers and every Nigerian who believes in the power of hope.

    “ Please be the catalyst that transforms vulnerability into strength, and that can change poverty into prosperity.”

    The Canadian High Commissioner to Nigeria, James Christoff said an essential step to responding to poverty in Nigeria was to integrate a gender perspective into data collection.

    “Based on what has been highlighted in this report and we hope to see the discussion steered today as well, is how the technical discussions are going to address gender disparities in Nigeria.

    “ There is an opportunity to undertake a deeper action at the state level to better address the disproportionate burden of poverty.

    “Also on the climate impact on women and girls, and to more effectively direct resources and design programmes to address this.”

    Christoff, represented by Djifa Ahado, said the Canadian government would continue to partner and support Nigeria in its development priorities, including those related to sustainable economic growth, health, and political participation.

    According to him, as we look at our support in 2022-2023, we can see that Nigeria is now the second largest recipient of Canadian international assistance with funding of 277 million Canadian dollars.

    Clare Henshaw, National Programme Specialist, UNDP, who spoke earlier on the progress of the MPI, said one of the next steps was to constitute an MPI Joint Basket Fund.

    Henshaw said the MPI brought hope that poverty could be eradicated adding that it could only be achieved by collaborative efforts of all stakeholders.

    She said poverty in Nigeria could end by strengthening the country’s social protection, adding that it was important to strengthen the social protection around women to achieve significant results.

    “ A key element of the MPI report was gender analysis for selected indicators, therefore gender analysis should constitute a core element of the MPI policy implementation and updates going forward.”

    She said another way to reduce poverty was to ensure the National Social Register(NSR) was dynamic to capture everyone ensuring “no one is left behind.”

    Henshaw said the MPI should be mainstreamed into the NSR for the identification of the poorest households, adding that the NSR should become a living document. (NAN)(www.nannews.ng)

    OKE/VIV

    ======

    Edited by Vivian Ihechu

  • Medical expert harps on balancing leadership, wellness

    Medical expert harps on balancing leadership, wellness
    Well-being
    By Rukayat Moisemhe
    Lagos, June 6, 2024 (NAN) The Managing Director of Iwosan Wellness Centre, Dr Oluwatomi Kogo, has urged Nigerian leaders not to neglect their health while pursuing innovation, strategy and governance.
    Kogo gave the advice at a dinner organised by the Chartered Institute of Directors (CIOD) with the theme: “Leadership and Wellness: Balancing Success and Wellbeing”.
    The event held on Thursday in Lagos.
    She said that, in the average, Nigeria was about 20 years below global life expectancy at 53.9 years against the global rate of 73.4 years.
    The medical director said that the single largest percentage of death in Nigeria was from non-communicable diseases such as heart attacks, stroke, diabetes, cancer and other cardiovascular diseases.
    She said that the percentage of death was 74.
    Kogo said that some of the common causes of  non communicable diseases were smoking, sedentary lifestyle, poor nutrition, obesity, stress and harmful use of alcohol.
    “We are contributing to the rise in non-communicable diseases by generally being reactivity instead of proactivity, and taking the easy way out, of popping pills, instead of lifestyle modification,” she said.
    She listed other contributing factors to include preference for animal-based nutrition, sedentary lifestyle, fast meals because of work pressure, and belief that the fat child is the one ‘enjoying life’.
    “Leaders and directors are busy juggling
    multiple demanding responsibilities and ending up neglecting personal well-being
    “They sacrifice sleep, exercise and quality time with loved ones which is very important for wellness.
    “The way forward is to adopt a good plant-based nutrition, reduce animal protein consumption to once or twice a week, get enough rest and restorative sleep, exercise, spend quality time with loved ones, and have a good mindset on your journey to extreme health,” she said.
    In his remarks, Alhaji Tijjani Borodo, President of CIoD, said that the event’s theme reflected a crucial shift in the country’s corporate landscape.
    According to him, gone are the days when relentless pursuit of results overshadowed the well-being of leaders and their teams.
    “True success hinges on a balanced approach, where strong leadership fuels growth while prioritising the health and happiness of those driving it.
    “As directors, we are often at the forefront of innovation, strategy and governance.
    “Yet, amidst these responsibilities, it is easy to overlook the importance of our health and well-being.
    “This evening, we aim to explore how we can harmonise these aspects to lead more effectively and sustainably,” he said. (NAN)(www.nannews.ng)
    ARM/IGO
    ========
    Edited by Ijeoma Popoola

  • May & Baker shareholders approve N517.57m total dividend for 2023

     

    Dividend
    By Rukayat Adeyemi
    Board Members of May & Baker Nigeria Plc at the company’s 73rd AGM on Thursday in Lagos

    Lagos, June 6, 2024 (NAN) Shareholders of May & Baker Nigeria Plc (M&B) have approved a total dividend payout of N517.57 million for the financial year ended 2023.

    This translates to a dividend of 30k for every 50k share held in the company, representing a total of dividend of N571.57 million, subject to applicable tax.

    The shareholders gave their consent at the 73rd Annual General Meeting (AGM) of the company on Thursday in Lagos.

    They also lauded the company’s leadership for maintaining a fair performance and paying dividend amid the tough business operation terrain in the country during the year under review.

    In her address, Sen. Daisy Danjuma,  Chairman, Board of Directors of May & Baker, said that every shareholder whose name appeared in the register of members as at the close of business on May 21 would be paid.

    Revewing the financials of the pharmaceutical company in the year 2023, Danjuma stated that in spite of the tough challenges facing businesses, the company still turned in a fairly good performance.

    She said that the company’s group revenue grew by 37 per cent from N14.3 billion in 2022 to N19.7 billion in 2023.

    According to her, the firm’s gross profit also grew by 70 per cent to N6.8 billion in 2023, from N3.9 billion posted in the year 2022.

    The chairman mentioned that the company’s operating income dropped significantly from N1.6 billion in 2022 to N62.2 million in 2023.

    Danjuma indicated that distribution, selling and marketing expenses grew by 19 per cent to N2.6 billion in 2023 from N2.1 billion in 2022 to drive revenue.

    She added that the pharmaceutical firm’s administrative expenses grew by 119 per cent from N1.2 billion in 2022 to N2.7 billion in 2023.

    “It is important to note that N1.1 billion out of this came from foreign exchange losses due to the depreciation in the value of Naira versus the dollar.

    “At least three major pharmaceutical companies closed business operations in Nigeria while many small local players also closed shop.

    “The total loss by corporates due to foreign exchange losses runs into trillion, looking across all industries,  with some even recording erosion of shareholders’ funds.

    “Coupled with this is the impact of fuel subsidy removal and power costs for factory operations have increased by over 500 per cent across industries on account of higher diesel and gas prices,” she said.

    According to her, the company, on its future outlook, would continue to invest more in expanding its production capacity in the Pharma Centre at Ota, in Ogun State.

    Danjuma said the pharmaceutical firm has also re-launched its water business -Lily table water, which is now produced in its plant at Ota factory which used to be the old foods plant for its noodles business which it divested from in 2018.

    She appreciated the shareholders, staff, and management of the company for their continued dedication and contributions to the growth of the firm.

    The chairman announced that the company would mark its 80-year anniversary of existence in Nigeria by September

    “The company is boldly matching on as it continues in its tradition of delivering quality medicines to the Nigerian populace and beyond with the launch of seven new products into our market and region,” she added.

    In his remark,Mr Patrick Ajah, Managing Director, May & Baker, said that the pharmaceutical company remains dedicated to furthering its sustainability agenda, embracing innovation and fostering partnerships to drive positive changes for its stakeholders and the planet.

    Ajah stated that throughout 2023, the company continued to integrate Environmental, Social and Governance (ESG) principles into its business operations, striving for a balance between profitability and social impact.

    “Our effort in reducing environmental footprint, enhancing community engagement, and upholding ethical standards have yielded tangible results, reinforcing our position as leader in sustainable business, ” he said.(NAN)(www.nannews.ng)

    RUKY/AWA
    ============
    Edited by Olawunmi Ashafa