OGILO SKOPE (the speaking pen 🖊️)

FHL Ends Its Three-Day Management Retreat In Ado-Ekiti GMD, FHL: Adetunji Fountain Holdings Limited (FHL), the investment arm of the Ekiti State Government, has successfully concluded its three-day management retreat which took place at Fountain Hotel in Ado-Ekiti between September 18 and 20. In his closing remarks, the Group Managing Director, Mr. Adetunji Tolani, expressed appreciation to all staff and facilitators for their thought-provoking contributions, active participation, and openness throughout the sessions.  He described the retreat as an opportunity for the organization to challenge old paradigms, embrace new ideas, and strengthen the collective understanding of its strategic direction. Mr. Tolani emphasized that FHL is not just an Investment Company but a catalyst for sustainable development in Ekiti State.  He added that the organization’s ability to deliver on its mandate depends on the resilience of its staff, both individually and collectively as a team and an...

 

The Federal Government of Nigeria has reaffirmed its commitment to supporting and strengthening local industries, recognizing their crucial role in driving economic growth and development. Minister of State for Petroleum Resources, Heineken Lokpobiri, made this commitment during a visit to Amal Tech Limited, an indigenous hardware manufacturer in Abuja.  He praised the company's innovative solutions, job creation, and local employment opportunities, and assured them of government support.  The government aims to reduce pipeline infractions, increase local production capacity, and partner with local industries to achieve these objectives.

  L-R Dangote and Rupert  In a surprising turn of events, South African billionaire Johann Rupert has surpassed Nigerian industrialist Aliko Dangote as Africa's richest person, according to the latest Bloomberg Billionaires Index.  Rupert's net worth has surged by $1.9 billion to $14.3 billion, placing him at 147th position globally, 12 places ahead of Dangote. Dangote's fortune has taken a hit, falling by $1.7 billion this year, leaving him with a net worth of $13.4 billion.  The downturn in his wealth is attributed to Nigeria's challenging economic environment, where his conglomerate primarily operates.  The removal of fuel subsidies and high inflation have contributed to the decline in his wealth. Rupert's success can be attributed to his control of Richemont, one of the world's largest luxury goods firms, which owns brands like Cartier and Montblanc.  His net worth has been buoyed by strong performances in the luxury goods sector. The ranking may contin...

  Six state governments in Nigeria have spent approximately N160 billion on airport projects deemed unviable by opposition politicians and aviation professionals.  The projects, which have not attracted significant air traffic, are considered a waste of public funds.  Stakeholders have condemned the state governors for their decisions and called for accountability. Some of the airports in question include: - Ekiti Cargo Airport (N16 billion) - Ebonyi Airport (N36 billion) - Bayelsa Airport (N70 billion) - Jigawa Airport (N4 billion) - Nasarawa Cargo Airport (N10 billion) - Yobe Airport (N18 billion) Former Ekiti State Governor Kayode Fayemi spent N16 billion on the Ekiti cargo airport, which has failed to attract aircraft due to its non-viability.  Despite initial criticisms from stakeholders, Fayemi pushed forward with the project, which remains unused.  As of January 2023, an additional N600 million had been spent, bringing the total to N16.6 billion. The fund...

  Ekiti State Governor, Mr. Biodun Oyebanji, has commended the Chairman of the Ekiti State Internal Revenue Service (IRS) and his team for their outstanding efforts in boosting the state's internally generated revenue.  Since the Chairman's appointment, the state's revenue has surged from approximately N600 million to over N1.3 billion. Speaking at the launch of the *5229# USSD Payment System, Governor Oyebanji emphasized the importance of Internally Generated Revenue (IGR) as a key economic indicator of government performance.  He attributed the increase in IGR to improved revenue collection, rather than higher taxes or new introductions. The Governor highlighted his administration's focus on enhancing tax collection efficiency and leveraging technology to streamline processes and reduce revenue leakages.  The new "Irorun de" system allows taxpayers to make payments using the USSD code *5229# on any mobile phone, eliminating the need for lengthy queues and pa...