Connect with us

Featured

Rotary Africa, Taiwan Sign Historic Inter-Country Committee Protocol Agreement

Published

on

History was made on January 30, 2024 as Rotary International celebrated the momentous signing of the Rotary Inter County Committee (RI ICC) protocol agreement.

This ground-breaking agreement brings together several districts in Africa and the districts in Taiwan in a collaborative spirit, fostering unity, friendship, and a shared commitment to making a positive impact on communities around the world.

The diverse districts of Africa, with their rich cultural tapestry, and the dynamic districts of Taiwan, known for their innovative spirit and commitment to progress, are now joined in a common mission under the Rotary banner.

This collaboration – which started with a Global Grant in D9400 on peace building, supported by clubs and districts in America, Taiwan and South Africa with the support of The Rotary Foundation (TRF) –amplifies the impact of service projects, promotes cultural exchange, and builds bridges of understanding that span countries and continents.

All District Governors and Governor-Elects of all participating districts were present at the signing ceremony which was witnessed by Rotary International ICC Executive Board President, Past District Governor (PDG) Mohamed Ghammam and his executives.

The ceremony was graced by among others, Past Rotary International President (PRIP) Gary Huang, Rotary International Director-Elect (RIDE) Naomi Lin for Taiwan (Zone 9) and RID Patrick Chisanga for Africa (Zone 22).

PDG Mohamed Ghammam highlighted that the Rotary Intercounty Committee protocol agreement is envisioned to be a catalyst for even greater accomplishments, as diverse districts work hand in hand to create positive change, uplift communities, and embody the Rotary motto: “Service Above Self.” This historic achievement is a testament to the pioneers who made it happen and extends heartfelt congratulations to all the districts in Africa and Taiwan.

PRIP Gary Huang, acknowledged that “the impact of Taiwan and Africa on Rotary global stage has been profound” while extending “heartfelt congratulations on reaching the remarkable milestone!”

RID Patrick highlighted the significance of this agreement, stating, “The Rotary Intercounty Committee protocol agreement is not just a piece of paper; it is a testament to the potential of collaboration and the strength that emerges when diverse communities unite”. He emphasized that “today, we celebrate the bonds formed across Africa and Taiwan, recognizing that the impact of our collective efforts knows no bounds.”

According to District Governor of Rotary International District 9110, Rtn. Ifeyinwa Rita Ejezie this momentous occasion is a step in the right direction as it will enable Rotarians to do more and create hope in the world.

She noted that the power of cooperation and collaboration that the Inter Country Committee will inspire others to follow suit and this will only enable Rotary impact even more communities across the globe.

The mission of the Rotary International’s Intercountry Committees (ICC) is to promote peace and international understanding while improving cross-cultural awareness, engaging diversities, and bridging communities. International service is a high priority for Rotary

The global family of Rotary looks forward to the transformative impact that will result from this unprecedented collaboration.

 

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Featured

Forbes Ranks Dangote As World’s 86th Wealthiest Person, 1st in Africa

Published

on

By

Billionaire businessman Aliko Dangote has seen his wealth nearly doubled to $23.9 billion, according to Forbes, which ranks the Nigerian entrepreneur as the wealthiest person in Africa and 86th in the world. Forbes had ranked Aliko Dangote as the 144th richest person in the world in 2024 with $13.4 billion. Forbes estimates Dangote’s net worth at $23.9 billion, primarily due to his 92.3 percent stake in Dangote Petroleum Refinery & Petrochemicals.

At 67 years old, Dangote is once again one of the top 100 richest individuals worldwide, a position he has not held since 2018, according to the Forbes Real-Time Billionaires List.

This places him significantly ahead of South African Johann Rupert, who is ranked 161st in the world with an estimated wealth of $14.4 billion and far above Mike Adenuga, who is the second richest in Nigeria and 481st in the world, with a net worth of $6.8 billion.

Dangote disupted the government’s oil monopoly by building the largest Petroleum Refinery in Africa.

After 11 years, a $23 billion investment, and numerous challenges, the Dangote Refinery began operations last year.

Located on a vast 6,200-acre site in the Lekki Free Zone, the refinery, at full capacity, will process a remarkable 650,000 barrels per day (b/d), making it the seventh-largest refinery in the world and the largest in Africa.

Additionally, the refinery’s adjacent petrochemical complex has an annual production capacity of 3 million metric tons of urea, making it Africa’s largest fertiliser producer.

The Dangote Refinery is already having a significant impact on global energy markets. Imports of petroleum into Nigeria are on track to reach an eight-year low, affecting European refiners that have traditionally sold to Nigeria, according to energy intelligence firm Vortexa.

Furthermore, Nigeria has become a net exporter of jet fuel, naphtha (a solvent used in varnishes, laundry soaps, and cleaning fluids), and fuel oil, according to S&P Global.Dangote sees the refinery as part of a larger vision to transform Nigeria, one of the world’s largest crude oil producers, into a major producer of refined petroleum products.

This would enable Nigeria to compete with European refineries and supply gasoline to Nigerian consumers“I want to provide a blueprint for industrialisation across Africa,” Dangote says in an interview with Forbes.

“We have to build our nation by ourselves. We have to build our continent by ourselves, not [rely on] foreign investment.”

He believes Africa has long been “a mere dumping ground for finished products,” and his refinery represents “a pivotal step in ensuring that Africa can refine its own crude oil, thereby creating wealth and prosperity for its vast population.

”Dangote said the refinery is the biggest risk of his life and without success, it would have affected him greatly.

“It was the biggest risk of my life,” says Dangote about his decision to embark on the project. “If this didn’t work, I was dead.

Zainab Usman, director of the Africa Programme at the Carnegie Endowment for International Peace, according to Forbes, said Nigerians see Dangote as a hero and a real industrialist transforming the country.

He is seen in most parts of Nigeria as a hero. He is seen as a real industrialist who builds things,” she said.

A professor of African studies at the Soka University of America, Chika Ezeanya, also corroborated this view, noting that Dangote is meeting the needs of consumers on the continent.

“I think he’s believed staunchly in the fact that Nigerians need products that he has to offer,” he said while adding: “Governments can come and go, policies can be changed, but the needs of the Nigerian consumer will only grow and expand.”

Continue Reading

Featured

Breach of Contract: Court Rules in Favour of R&B, Dismisses CMB’s Suit As Frivolous

Published

on

By

By Eric Elezuo

The Lagos State High Court sitting in Ikeja, and presided over by Justice A. O. Ipaye, has given judgment on the matter between R&B Nigeria Limited and CMB Building Maintenance and Investment Limited over breach of contract.

The suit, with number LD/7881GCM/2024, was decided in favour of  R & B Nigeria Limited, the owner of the Pearl Nuga Park Estate, Sangotedo, Lekki, Lagos, in which CMB Building Maintenance & Investment Limited, a property developer in Lagos owned by Mr. Kelechi Mbagwu, was mandated to perform every due diligence to R&B in terms of fulfillment of all agreed contracts rhat were breached as well as payment of all apurtenances.

Describing the landmark judgement, which has dragged for an upward of 14 years, a statement by the management of R&B, and made available to The Boss, noted as follows:

“This dispute typifies the inherent challenge in property development contracts where the developer such as Mr. Kelechi Mbagwu after taking advantage of the land owner’s property, seeks to evade his obligation to transfer an agreed part of the built property back to the landowner.

“The facts of the dispute are basic. On 22 April 2011, R & B Ltd entered into a developers contract with CMB Building, whereby CMB Building agreed to build 92 houses, comprising 38 units of 4-bedroom detached houses and 54 units of 3-bedroom terrace houses on the Pearl Nuga Park Estate, within 36 months from execution of the agreement. The parties also agreed that, CMB Building would deliver 28 housing units to R & B Ltd, comprising 19 units of 3-bedroom terrace and 9 units of 4-bedroom Detached houses, plus 10 plots of vacant land on the Estate.

“Regrettably, after constructing a total of 109 houses in the Estate, CMB Building reneged on the developer’s contract and failed, till date, to deliver a single housing unit to the land owner, R & B Ltd. This prompted R & B Ltd to invoke the arbitration clause in the contract in 2019, to recover its contractual entitlement of 28 housing units plus 10 plots of vacant land at the Estate, plus damages for loss of use of the houses and interest.

“Subsequently, the arbitration tribunal made up of three eminent jurists issued a Final Award dated 17th April 2023 (corrected on May 23, 2023) in favor of R & B Ltd. The arbitral tribunal ordered CMB Building to: (1) deliver vacant possession of 19 units of 3-bedroom terraces, 9 units of 4- bedroom detached houses and 10 plots of vacant land in the Estate to R & B Ltd; (2) pay a sum of money based on accrued charges for real estate, penalty and special damages to R & B Ltd for breach of contract; (3) refund to R & B Ltd the sum of N19,019,047.05 being the unused balance of the sum of N25,000,000.00 received by CMB Building for the construction of a personal residence for the owner of R & B Nig. Ltd (4) to pay the sum of N8,500,000.00 to R&B as cost of the arbitration paid solely by R&B Nig. Ltd; and (5) pay interest at the rate of 10% on the various monies ordered to be paid above.

“Following the publication of the award, CMB Building hastily filed a law suit at the Lagos High Court to set aside the arbitration award (Suit No: LD/7149GCM/2023) based on various accusations of misconduct levelled against the arbitral tribunal, all in a bid to delay execution of the judgment while CMB continues to develop and sell the property illegally as it has been fraudulently doing. In response, R & B Ltd also filed an application (Suit LD/7881GCM/2024) seeking for the enforcement of the arbitration award as if it were a judgment of the High Court of Lagos State.

“In her judgment, Honourable Justice A.O. Ipaye dismissed CMB Building’s law suit as a frivolous venture, and ordered that R & B Ltd’s rights, as granted by the arbitral tribunal, be fully enforced.

“Any past, present of future transactions with CMB Building with respect to this real estate development is at the owners risk.

“R & B Nigeria Ltd remains the bona fide and sole owner of this parcel of land in Lagos State.”

The judgment has therefore, put to rest years of loggerheads between the two contending parties.

Continue Reading

Featured

Boko Haram Among Terror Groups Funded by USAID, Says US Congressman, Perry

Published

on

By

US Congressman, Scott Perry, has said that US aid agency, United States Agency for International Development, funded terrorist organisations, including Boko Haram.

Perry, a Republican representing Pennsylvania, made the claim during the inaugural hearing of the Subcommittee on Delivering on Government Efficiency on Thursday.

The session, titled “The War on Waste: Stamping Out the Scourge of Improper Payments and Fraud,” focused on alleged misappropriations of taxpayer funds.

“Who gets some of that money? Does that name ring a bell to anybody in the room? Because your money, your money, $697 million annually, plus the shipments of cash funds in Madrasas, ISIS, Al-Qaeda, Boko Haram, ISIS Khorasan, terrorist training camps. That’s what it’s funding,” Perry said.

According to the subcommittee’s website, it will “actively work with President Trump’s Department of Government Efficiency to root out waste, shore up vulnerable payment systems, and fully investigate schemes to defraud taxpayers.”

Perry further cited USAID’s reported funding of $136 million for building 120 schools in Pakistan, alleging that there was “zero evidence” of the schools’ construction.

Perry added, ” If you think that the programme under Operation Enduring Sentinel entitled Women’s Scholarship Endowment, which receives $60 million annually, or the Young Women Lead, which gets about $5 million annually, is going to women who, by the way, if you read the Inspector General’s report, is telling you that the Taliban does not
allow women to speak in public, yet somehow you’re believing, and American people are supposed to believe, that this money is going for the betterment of the women in Afghanistan. It is not.

“You are funding terrorism, and it’s coming through USAID. And it’s not just Afghanistan, because Pakistan’s right next door.

“USAID spent $840 million in the last year, the last 20 years, on Pakistan’s education-related programme. It includes $136 million to build 120 schools, of which there is zero evidence that any of them were built. Why would there be any evidence? The Inspector General can’t get in to see them.

“But you know what? We doubled down and spent $20 million from USAID to create educational television programs for children unable to attend the physical school. Yeah, they can’t attend it, because it doesn’t exist. You paid for it.

“Somebody else got the money. You are paying for terrorism. This has got to end.”

US President Donald Trump has previously called for the closure of USAID, accusing the agency of corruption in a post on his Truth Social platform.

The move is part of Trump’s–and his billionaire ally Elon Musk’s–drive to shrink the US government.

Musk, whom Trump appointed to lead the Department of Government Efficiency, has also criticised USAID, alleging that it engages in rogue operations.

Musk has called USAID “a viper’s nest of radical-left Marxists who hate America” and has vowed to shut it down.

Among other criticisms, which Musk has claimed that USAID does “rogue CIA work” and even “funded bioweapon research, including COVID-19, that killed millions of people.”

Trump said DOGE would “dismantle government bureaucracy, slash excessive regulations, cut wasteful expenditures, and restructure federal agencies — essential to the ‘Save America’ movement. This will send shockwaves through the system, and anyone involved in government waste, which is a lot of people!”

Continue Reading

Trending