Odu’a Investment Unveils New Lagos Office to Boost Expansion

LAGOS – Odu’a Investment Company Ltd. (OICL) has launched its Lagos liaison office, aiming to drive growth and extend its reach.

During the opening ceremony on Wednesday, Chief Bimbo Ashiru, Chairman of OICL, emphasized that the new office would serve as a communication hub between the holding company and the investment community.

In attendance were key figures including Odu’a Group Chairman Otunba Bimbo Ashiru, Managing Director/CEO Abdulrahman Yinusa, and other directors who celebrated the inauguration of the facility.

Ashiru highlighted that the office would house OICL’s subsidiaries, South West Agribusiness Company (SWAgCo) and South West Innovation and Tech Company (SWIT). He described the new office as a strategic asset designed to facilitate business access, enhance communication, and foster international relationships, thereby helping the company navigate the global business landscape more effectively.

The office features an executive suite, a modern board room equipped with teleconferencing technology, a lounge, meeting rooms, and kitchenettes. These facilities are intended to act as an information hub for market intelligence, research, and collaboration with potential business partners.

OICL’s Group Managing Director, Abdulrahman Yinusa, praised the board and management team for their dedication and innovation in bringing the project to fruition. He noted that the office would enable the company’s subsidiaries to engage in cross-border interactions and expand OICL’s international presence.

Dr. Seye Oyeleye, Director-General of the Development Agenda for Western Nigeria, delivered a goodwill message, underscoring the historical significance of the expansion. He reflected on Chief Obafemi Awolowo’s vision of harnessing capitalism for the greater good, with Odu’a Investments playing a crucial role in this mission.

Oyeleye expressed confidence in OICL’s growth into a global conglomerate and lauded the leadership of Ashiru, former Group Managing Director Adewale Raji, and current GMD Yinusa. He emphasized that the new office in Lagos, a key economic hub, marks a significant step towards greater achievements.

The News Agency of Nigeria (NAN) reports that the new OICL Lagos liaison office is located on the 15th floor of Western House, Broad Street, Marina.

Minister Advocates for Peaceful Support of Tinubu’s Agenda

Bar Uju Kennedy Ohanenye, the Minister of Women Affairs, has urged mothers and youths to support President Bola Ahmed Tinubu’s Renewed Hope Agenda, emphasizing that progress requires peace, not chaos.

During a national peace rally organized in Abuja with Niger Delta Volunteer Force leader Asari Dokubo, Ohanenye called for unity and patience, countering the upcoming #EndBadGovernance protests scheduled for August 1-10. She asserted that President Tinubu means well for Nigerians.

Dokubo echoed her sentiments at the rally, highlighting the adverse effects of protests on women and children and calling for collective support for the President.

The National Association of Nigerian Students also opposed the protests, aligning with the women’s rally and advocating for national unity and patience with the government.

“We are mothers, and we don’t want our children to die. We don’t want this protest because it shatters a country,” said Ohanenye. “I am begging Nigerians, alongside my brothers, children, and women, to understand that the narratives are about to change.”

She added, “I am pleading with Nigerians from my heart. The government is committed to fighting for women, children, and all. I can’t do this if President Bola Ahmed Tinubu was not giving me support.”

Dokubo argued that expecting the President to resolve every issue facing the nation in one year is unreasonable, as he is not a magician.

Youth Leader Urges Patience and Constructive Engagement with Tinubu’s Government

ASABA – Mr. Kelly Umukoro, the Ethnic President of Urhobo Youth Worldwide UPU (Youth Wing), has urged Urhobo youths to avoid the planned nationwide protest and give President Ahmed Tinubu’s reform policies a chance.

In an interview in Asaba, Umukoro stated that protests are often hijacked by hoodlums, leading to death and destruction of public assets. He emphasized that the federal government’s policies need time to work, adding, “policies take time to work.”

He reflected on the #EndSars protests, which left a trail of destruction and avoidable deaths, and acknowledged that while protests are a legitimate means of expressing grievances, Nigerians “should also understand the need to give the federal government a chance.”

Umukoro praised President Tinubu’s achievements over the past year but stressed that “one year is insufficient time to roll back sixty years of economic decay.” He was encouraged by the promises made at the Niger Delta Ethnic Nationalities Conference in Rivers state, indicating that President Tinubu is a responsive leader.

He expressed optimism that the federal government will meet its promises from the conference, including fixing the East/West road in six months and improving security and food security. Should the planned protest proceed, Umukoro urged Urhobo youths to organize peacefully and avoid violence.

Umukoro called on all levels of government to keep their promises to Nigerians, noting that regional leaders have put their reputations on the line to defend these commitments. He highlighted the federal government’s responsiveness to the pains of Nigerians, citing the resolution of the NNPC/Dangote issue, the N50,000 grant to 10,000 Niger Delta youths by the NDDC, and the promise to fix the East/West road.

In light of these assurances, Umukoro urged Urhobo youths to shun the planned protests and engage the government constructively. He reaffirmed their right to protest but emphasized the importance of constructive engagement, given the negative outcomes of the previous #EndSars and #EndEFCC protests.

Lawmaker Calls for Better Government Communication

Hon Babajimi Benson

ABUJA – Honourable Babajimi Benson, representing the Ikorodu Federal Constituency in Lagos State, has urged Nigerians to avoid the nationwide strike for the country’s well-being.

During a press briefing in Abuja, Benson criticized the federal government for its poor communication with citizens. He emphasized the need for greater transparency and engagement to keep the public informed about government activities and decisions.

“The critical issue we face in Nigeria is a matter of perspective,” Benson said. “People perceive things differently, leading to a significant communication problem.”

Highlighting a recent address by Professor Pate, Benson noted, “Professor Pate’s involvement in the government sends a strong signal to the international community that Nigeria is serious about its commitments. His healthcare revolution over the past year is a testament to this, but many Nigerians are unaware due to the communication gap.”

Benson expressed concern over the planned nationwide protest against hunger, fearing it could turn violent. He cited peaceful protests like those by Dangote as effective examples but warned that the upcoming demonstration might be hijacked for destructive purposes.

“We have credible intelligence showing that some people might turn this constitutional protest into riots and looting. We’ve seen this happen before,” he said. Benson recalled past incidents where President Bola Tinubu himself was a victim of riots that targeted media houses.

While acknowledging the government’s shortcomings, Benson emphasized that ongoing dialogues and credible initiatives are being overlooked due to poor communication. He stressed the importance of bridging this gap to keep Nigerians better informed and engaged.

PLANNED “HUNGER PROTEST” AN INVITATION TO CHAOS

By Rev Yakubu Pam,
Former Executive Secretary of Nigeria Christian Pilgrim Commission

Nigeria is already at the tipping point as a result of the planned “Hunger Protest” by groups of youth across the country, hashtag “EndBadGovernanceInNigeria,” slated to commence on Thursday, 1st August, 2024. Even though Nigerians have the constitional right to peaceful gathering and peaceful protest, there are strong indications that such planned protest is an invitation to chaos.

Indeed, Nigerians still have fresh memories of the tale of woes during the infamous 2020 #EndSARS rallies in the major cities in the federation which began peacefully but were later hijacked by unscrupulous elements and hoodlums who wrecked havoc and looted as well as vandalized both public and private property.
Also recall the 1988 fuel hike by the military administration of President Ibrahim Badamasi Babangida which ignited protests nation-wide which led to wanton destruction
of lives and property.

There’s no doubt that Nigeria is experiencing its worst cost of living and economic hardships, following the unavoidable and inevitable economic reforms by President Bola Ahmed Tinubu. The sole aim is to turn around the dwindling economic fortunes of the country before his assumption in office over a year ago. In fact, it was obvious that the nation’s economy was in comatose and needed urgent revival.

Thus, the removal of the fuel subsidy which had hitherto served as the conduit pipe to drain the nation’s resources during the successive administrations by few unpatriotic and unscrupulous Nigerians to the detriment of the wellbeing of the pauperised masses had become imperative.

The action by President Tinubu was apt because economic experts as well as the US-based World Bank and the International Monetary Fund ( IMF), including all the 2023 presidential candidates, had converged on the consensus opinion that removal of the fuel subsidy regime in Nigeria was inevitable, hence retaining it was like postponing the evil days. There could not have been any better demonstration of his good intentions for the country than the timely removal of the fuel subsidy.

Therefore, the organizers of the “Hunger Protest ” should give peace a chance and heed to the clarion calls and pleas by the federal government, religious bodies, clerics, security operatives and well-meaning Nigerians to shelve the protest. They should not allow some of the disgruntled youths and undesirable elements in their midst to be used by the opposition figures and unpatriotic Nigerians as canon fodder to thwart the ongoing economic reforms which are of necessity both now and in the future. Failing to continue the implementation of the economic reforms by the Tinubu administration will spell doom for the country and the economy will remain in deep quagmire.

The President has already put in place the necessary measures to address the myriad problems bedeviling the country’s economy and the grievances of the youths. These include students loan scheme, skills acquisition programmes, signing into of the much agitated new national minimum wage of N70,000.00, housing funds scheme and hosts of other palliative measures to cushion the pangs of economic hardships being experienced by Nigerians. Thus, determined not to bore Nigerians with overflogged fairy stories and blame game about those responsible for the economic hardships, the Tinubu administration has decided to tackle head-on the economic problems by introducing the various reforms. The downturn of the economy has put majority of Nigerians below the poverty line which is a sad irony in the oil rich country.

By and large, the planned “Hunger Protest” across the country is an ill-wind that blows nobody any good. The organizers should rather use the ample opportunity to engage the federal government in meaningful dialogue on the way out of the woods. Since nation building is always work-in-progress. What’s even more, even the developed and advanced countries currently having their fair share of the high cost of living and economic hardships. Hence ours is not an exception.

Hardship: Youths back down from protest, give Tinubu more time to deliver

ABUJA – In a surprise move, Nigerian youths have called off their planned protest and hunger strike, citing President Bola Tinubu’s commitment to addressing the country’s challenges.

A communiqué issued on Wednesday night by the youth groups revealed that the decision follows a meeting held in Abuja between representatives of ethnic youth groups, religious youth bodies, and community-based organizations.

They acknowledged the President’s efforts to address their grievances and pledged to give him more time to implement necessary changes.

The planned August 1 protest was deemed unnecessary, as the government has taken note of the youths’ concerns and is working to address them.

Senate President Godswill Akpabio’s commitment to expediting beneficial legislation was also recognized, further solidifying the decision to engage in dialogue.

Ambassador Solomon Adodo, Convener of Rising-Up for a United Nigeria, emphasized the need for continuous dialogue and collaboration with the President.

He stated that by calling off the protest, the youths demonstrated their willingness to partner with the government to navigate Nigeria’s challenges.

The communique reads, “Rising-Up for a United Nigeria convened a significant meeting with youth groups from across the nation. This gathering included representatives from ethnic youth groups, religious youth bodies, and community-based organizations. Following extensive deliberations, a collective resolution was reached regarding the current socio-political climate and the planned protests.

“We acknowledge that President Bola Tinubu has been responsive to the concerns and grievances voiced by Nigerians. In light of his ongoing efforts to address these issues, it has been determined that further protests or street demonstrations scheduled for August 1 are unnecessary and counterproductive. Any such activities at this juncture would likely escalate into riots rather than constructive protests, as the expression of displeasure has been duly noted and is being acted upon.

“Furthermore, we recognize the commitment of Senate President Godswill Akpabio to ensure that all legislative actions beneficial to the masses are expedited. On this basis, the youth structures across the country have decided to withdraw from the planned nationwide hunger protest.

“We, the prominent youth organizations, reaffirm our confidence in President Bola Tinubu’s leadership and have resolved to provide him with the necessary time and support to implement the changes needed to move Nigeria forward. We have established a platform for continuous dialogue and collaboration with the President, enabling us to contribute ideas and solutions for the nation’s progress.

“We empathize with President Tinubu, understanding the immense challenges he faces. It is our collective responsibility to partner with him in navigating these difficult times, rather than exacerbating the situation through further protests.

“Together, we believe in working towards a united and prosperous Nigeria.”

MTN Nigeria Faces ₦519.1 Billion Loss in First Half of 2024 Amid Economic Challenges

MTN Nigeria has reported a significant after-tax loss of ₦519.1 billion in the first half of 2024, driven by the challenging macroeconomic environment in Nigeria.

MTN building
MTN building [ACCL Architects]

Key Financial Highlights:

  • Loss: ₦519.1 billion after tax.
  • Revenue Growth: 32.6% increase to ₦1.5 trillion.
  • Net Forex Losses: ₦887.7 billion due to naira depreciation.

Despite revenue growth, MTN Nigeria’s financial performance was severely impacted by net foreign exchange losses. These losses resulted from the revaluation of foreign currency-denominated obligations, exacerbated by the naira’s depreciation from ₦907/USD in December 2023 to ₦1,505/USD in June 2024.

Karl Toriola, CEO of MTN Nigeria, noted the difficult economic environment, highlighting that the inflation rate reached 34.2% in June, with an average rate of 32.8% for the first half of the year. He mentioned that without the forex losses, the company would have recorded a profit after tax of ₦102.3 billion.

Economic Pressures:

  • High Inflation: Significantly increased operational costs for businesses.
  • Currency Devaluation: Raised prices for imported equipment and services, impacting telecom operators’ cost structures.

The high inflation rate and the devaluation of the naira have forced many companies, including telecom operators, to balance the need to maintain high-standard infrastructure with the challenge of providing affordable services to consumers. This economic situation has led to higher operational costs and affected overall profitability.

Despite these setbacks, MTN Nigeria remains focused on strategic initiatives to restore profitability in the long run. While short-term dividend payouts may be affected, the company’s revenue growth and proactive measures aim to ensure sustainability and affordability for consumers.

Karl Toriola, Managing Director and Chief Executive Officer (MD/CEO) of MTN Nigeria Communications Ltd
Karl Toriola, Managing Director and Chief Executive Officer (MD/CEO) of MTN Nigeria Communications Ltd [PM News Nigeria]

In summary, MTN Nigeria’s financial loss underscores the broader economic challenges facing businesses in Nigeria. However, the company’s strategic focus on growth and resilience could help navigate these difficulties and ensure long-term success.

For more on this story and other related articles, visit MTN Nigeria closes all stores and service centers nationwide.

Essential Tips for Staying Safe During Protests

Protests are a powerful tool for raising awareness and demanding change. As Nigeria braces for a nationwide protest against bad governance, it’s crucial for protesters, especially the youth, to prioritize their safety.

Participating Safely in Protests: Key Tips

Know Your Rights

Nigeria’s constitution guarantees the right to peaceful assembly. Familiarize yourself with the legalities surrounding protests, especially dispersal orders from authorities. Knowing your rights will empower you to act assertively but peacefully, even in tense situations.

Buddy Up

Safety in numbers! Don’t head out alone. Rally your friends, classmates, or colleagues who share your passion. Agree on a meeting point beforehand and have a designated “check-in” time via text or call if things get separated.

Research the Route and Organisers

Is it a well-established organisation leading the protest? Knowing the route beforehand can help you stay oriented and avoid getting caught in unexpected situations. This also helps you plan your exit strategy if needed.

Pack Smart

Bring a reusable water bottle, snacks, and comfortable shoes. Sunscreen, a hat, and a mask are also smart choices.

Communication

Download a secure messaging app to communicate with your group outside of mainstream channels. Turn off location services on social media to maintain some privacy during the protest. Charge your phone fully and consider carrying a portable charger.

Dress for the Occasion

Think functionality, not fashion. Avoid wearing anything that restricts movement or identifies you easily. Opt for comfortable, closed-toe shoes you can walk in for long periods. Long sleeves and pants offer some protection from sun, tear gas, or other irritants.

Know What to Avoid

Leave valuables at home. Avoid carrying heavy bags or backpacks. Don’t bring flammable items or anything that could be construed as a weapon. Sticking to peaceful protest tactics keeps everyone safe.

Staying Safe and Aware During the Protest

  1. Stay Alert: Keep your eyes and ears peeled. Pay attention to what’s happening around you, and be prepared to react quickly if needed.
  2. Stay Peaceful: Remember, this is a peaceful protest. Avoid getting drawn into conflicts or arguments. Chant slogans, hold signs, but maintain a respectful and calm demeanor.
  3. Follow the Lead: Listen to instructions from organisers. They are there to ensure everyone’s safety. If the protest needs to move location or disperse, follow their guidance calmly and efficiently.
  4. Exit Strategy: Have a plan for how and when to leave. Identify side streets or alternate routes in case of crowd surges or any unexpected situations.
  5. Chemical Irritants: If you encounter tear gas or pepper spray, stay calm. Move upwind if possible. Cover your mouth and nose with a damp cloth (not your shirt!). Flush your eyes with clean water for at least 15 minutes.
  6. Documentation: If you witness police brutality or violence against protestors, document it responsibly. Use your phone camera to film discreetly, but prioritise your safety.
  7. After the Protest: Stay connected with your group after the protest is over. Debrief and check on each other’s well-being. Share any documented footage with trusted news outlets or organisations that can hold those in power accountable.

ALSO READ: Poor network, fuel scarcity & 3 other things to expect during August 1 protest

By participating in protests, you are a powerful voice for change. But your safety matters. So, be prepared, be informed, and be ready to stand up for what you believe in, peacefully and powerfully.

This content was created with the help of an AI model and verified by the writer.

7 Surprising Things Most People Are Addicted To

Enjoying the things you like is perfectly fine, but how do you know when they’re starting to control you?

1. Sugar

Sugary foods [LinkedIn]

Did you know sugar can act like a drug in your brain? Eating sugary foods releases dopamine, a “feel-good” chemical, making you crave more and more. Suddenly, that daily candy bar you “need” turns into a sugar crash and an afternoon slump.

2. Social Media

Social media can be addictive [Webandcrafts]

Social media is a great way to connect with friends and family. But have you ever found yourself lost in a social media vortex, mindlessly scrolling through endless feeds? Social media platforms are designed to be addictive, bombarding us with likes, comments, and notifications that trigger our brains’ reward system.

3. The News

The news feed can be overwhelming [SocietyofEditors]

We all want to stay informed, but a constant news feed can be overwhelming. It’s easy to get sucked into a cycle of negativity and feel constantly bombarded with bad news. Just like social media, the news can trigger our brain’s reward system with a rush of adrenaline or anxiety, keeping us glued to the screen.

4. Online Shopping

Online shopping can be addictive [Letsdiskuss]

Retail therapy can be tempting, especially when you find a great deal. But online shopping can be a slippery slope. Just a few clicks and suddenly you have a cart full of things you didn’t even know you needed. If you find yourself impulse-buying online regularly, consider setting a budget before shopping, or taking a 24-hour break before completing a purchase to make sure it’s something you truly need.

5. Multitasking

Juggling a million things at once feels like a badge of honour in our busy world. But constantly switching between tasks can negatively impact your productivity. It takes time for your brain to refocus, and multitasking can lead to mistakes and stress.

6. Smartphones

Smartphones are indispensable tools, but their constant use can become addictive. The endless notifications, apps, and social interactions can make it difficult to put your phone down, leading to hours of lost time and reduced face-to-face interactions.

7. Caffeine

While a morning coffee might seem harmless, excessive caffeine consumption can lead to dependency. Many people find they can’t start their day without a cup (or several), and withdrawal symptoms can include headaches and irritability.

Breaking Free

Be Aware

The first step is acknowledging the behavior. Once you realize it might be a sneaky addiction, you can start making changes.

Take Breaks

Try setting time limits for social media or sugary snacks. Schedule time for other activities to avoid constant engagement.

Find Alternatives

Replace these habits with healthier ones. Exercise, reading, or spending time with loved ones can all be great substitutes.

Seek Support

Talk to friends, family, or a therapist if you feel you need help breaking free from these habits.

It’s okay to enjoy the things you like, but be mindful of when they might be taking over. By recognizing these sneaky addictions and making some changes, you can take back control and live a happier, more well-rounded life.

How 4 Years of Joining a Daily Morning Devotion Live Stream Transformed My Life

During the COVID-19 pandemic in 2020, restrictions on mass gatherings led many churches to transition their services online. This shift gave rise to numerous online morning devotions, including two prominent ones: New Season Prophetic Prayers and Declarations (NSPPD) by Jerry Eze, and Next Level Prayers (NLP) by Bolaji Idowu.

NSPPD, as reported by CNN, peaked with over 90,000 viewers during the pandemic and now averages 500,000 daily views on YouTube. NLP sees between 10,000 to 30,000 daily views. Both devotions feature singing, praying over requests, sharing testimonies, and making declarations, with participants actively engaging on social media.

Dami has been a consistent attendee of NLP since 2020. She shared with Pulse Nigeria how this commitment has brought significant positive changes to her life and deepened her faith.

In her own words, here’s what she loves about the devotional platform:

Consistency and Routine

“Praying daily has become a routine for me, much like exercising. Just as consistently working out yields physical results, consistently praying has nourished my spiritual life. The platform has provided me with a structured approach to prayer and Bible study, helping me stay connected to God daily.”

Dami’s experience highlights the profound impact of integrating daily devotional practices into one’s life, especially through accessible online platforms.