Niger Delta

MTN Engages Stakeholders On Public Offer In Bayelsa, Benin City

Published

3 years ago

December 15, 2021

MTN Nigeria Communications Plc (MTN) has offered to sell 575 million units of its shares to retail investors, saying shares will be available to the public at N169 per unit from 1st December to 14th December 2021.
MTN Nigeria made this disclosure during a stakeholders engagement event, aimed at enlightening and engaging interested retail investors in Yenagoa, Bayelsa State and Edo state capital of Benin City, respectively.
Giving further details of the benefits of the public offer in Yenagoa, the General Manager, Business Development MTN Nigeria, Mr Valentine Izuchukwu, said that sales of the share did not in any way mean that MTN intends to leave Nigeria or is financially bankrupt.
He explained that the MTN Group, which holds 79 percent of the shares of the company, is making this public offer because it has decided to sell parts of its shares to Nigerians, so that they can also be part of the ownership of the company.
He reiterated MTN’s Nigerianisation agenda and commitment to doing business in Nigeria.
“We have done some things to guarantee the future of MTN in Nigeria. We have built the longest kilometers of fibre which guarantees the provision of quality internet service. The company has also decided to build its corporate headquarters in Lagos.
“This means, we have decided to stop renting an office space and build our roots in Nigeria. We have also made a commitment to contribute to road infrastructure in Nigeria. We are partnering with the government to construct road infrastructure and the first road the government has assigned for MTN to construct is the Enugu-Onitsha road. This goes a long way to prove that we are committed to remain in Nigeria and contribute to the success stories of every Nigerian.”
Giving a breakdown of the shares offer, the Senior Manager, Treasury Operations and Support, MTN Nigeria, Tolani Akanbi, said, “The minimum subscription is for 20 shares and lots of 20 shares thereafter. The offer includes an incentive in the form of 1 free share for every 20 shares purchased, subject to a maximum of 250 free shares per investor. The incentive is open to retail investors who buy and hold the shares allotted to them for at least 12 months, post the allotment date.”
She explained that the retail offer will be delivered via a digital platform, using the power of technology to facilitate the maximum possible participation by Nigerian investors.
Also speaking at the ceremony in Edo, Benin City, the Chief Customer Relations Officer, MTN Nigeria, Ugonwa Nwoye, made a passionate appeal to Edo people to take advantage of the opportunity and buy shares in the telecommunication service provider.
She said that initially the shares sold for over N200 per share but was reduced to N169 to allow more Nigerians to buy shares in the largest mobile network operator.
According to Nwoye, MTN Nigeria, as the second biggest company at the Nigerian Stock Exchange (NSE) after Dangote Cement, has never defaulted in paying its shareholders since 2019 when it was listed at the NSE.
In the same vein, the Senior Manager Investor Relations, MTN Nigeria, Chima Nwaokoma, noted that the company in the last 20 years had grown to become the biggest company at the Nigerian Stock Exchange in terms of capitalisation.
Nwaokoma highlighted some benefits of holding shares in MTN, saying, “We pay dividends twice in a year. We pay interim and final dividends. We have consistently paid to our shareholders and have never defaulted. There’s no limit to what you can buy. Edo people should take advantage of the offer and buy our shares.”

Niger Delta

NDDC Begins N50,000 Monthly Payment To 10,000 N’Delta Youths

Published

2 days ago

February 7, 2025

The Tide

The Niger Delta Development Commission (NDDC) has begun the payment of N50,000 monthly stipends to 10,000 indigenous youths from the Niger Delta under its Youths Internship Scheme.

The Director of Corporate Affairs at the NDDC, Mrs Seledi Thompson-Wakama, disclosed this to journalists in Port Harcourt, Rivers State capital, yesterday.

She explained that the beneficiaries would undergo practical, hands-on training across the various organisations for 12 months to develop critical skills.

Recall that during the inauguration of the scheme on July 31, 2024, Senate President, Godswill Akpabio, had announced the Federal Government’s approval of a N50,000 monthly stipend for the trainees.

According to Thompson-Wakama, the commission has successfully completed the selection process and has begun placing trainees in organisations to gain practical experience.

“Consequently, with the completion of these phases, the payment of the monthly stipends has also commenced,” she announced.

She revealed that the 10,000 beneficiaries were transparently selected from over 3.2 million youths who registered for the empowerment programme.

“This unprecedented response highlights the immense potential and aspirations of our youths to improve themselves.

“NDDC remains steadfast in ensuring this life-changing opportunity reaches the most deserving candidates, creating a lasting impact and paving the way for a brighter future,” she stated.

Thompson-Wakama explained that the scheme had enabled the commission to collate essential data, including the qualifications, skills, interests, needs, and employment status of the youths in the region.

The data, she explained, would guide the commission in designing programmes tailored to address the unique challenges faced by young people.

She disclosed that the NDDC partnered with KPMG, a global audit and consultancy firm, to enhance the commission’s corporate governance framework.

“KPMG has produced a Governance Advisory Report that will serve as a tool to support the commission’s transition from a transaction-based to a transformation-focussed policy,” Thompson-Wakama added.

The director commended the youths for their patience and cooperation during the selection process for the scheme.

Niger Delta

Oborevwori Tasks Public Officers On Selflessness

Published

2 days ago

February 7, 2025

The Tide

Delta State Governor, Sheriff Oborevwori, has charged public office holders in the state to put the interest of the people above self in the discharge of their duties.

The Governor gave the charge when the new executive of the Pentecostal Fellowship of Nigeria (PFN), State Chapter, led by Bishop Abos Willie, called on him at Government House, Asaba.

He said it was the lack of fear of God that made some public office holders to put themselves above the collective interest of the people.

Oborevwori attributed the successes so far recorded by his administration in the last 19 months to divine directive and God’s providence and pledged to continue to put God first in the governance of the state.

He congratulated members of the new PFN executive in the state on their successful election and promised to synergies with them in advancing the M.O.R.E Agenda of his administration.

“First, let me congratulate the new executive members of the Pentecostal Fellowship of Nigeria (PFN), Delta state Chapter.

“As an administration, we are grateful to God for the successes that we have recorded so far.

“It is by divine wisdom that we have been able to judiciously allocate resources that meet competing needs and made the right choices and decisions.

“As a government, we are determined to continue to trust God for wisdom, guidance and direction to successfully execute the programmes that we have outlined under the M.O.R.E Agenda.

“I know that, in partnership with the Christian body, we will succeed because, as an Elder in the Living Faith Church, we put God first in everything that we do.

“We are elected or appointed to serve interest of the people and not for our personal interest; as such, the interest of the people should come first.

“By the time you put the interest of the people first, you will succeed but when you put your personal interest first, you will fail”, he said.

He said his administration was committed to doing those things that would positively impact on the lives of the people at the grassroots.

“l want to assure you that, as a government, we will continue to partner with relevant stakeholders in order to move the state forward”, Oborevwori said.

He implored the PFN and the church to continue to pray for the state and the nation, affirming that God was needed to reverse the ugly trend in the country.

Earlier, the State PFN Chairman, Bishop Abos Willie, said the visit was not only to introduce the new executive to the governor but to also congratulate him on his giant strides and recognition by the ThisDay Newspaper and Arise Television as the Governor -of -The -Year.

Willie reminded the Governor of the need to sustain zero tolerance for shoddy projects, stressing that the bold step would stamp out the syndrome of abandonment of projects in the state.

He outlined the programmes of his administration to include the value of the Holy Bible, religious harmony, integrity in Christianity and value of being born again.

He, however, urges the state government support in achieving the set goals

Niger Delta

C’ River Committed To Mangrove Restoration – Gov

Published

2 days ago

February 7, 2025

The Tide

Cross River State Governor, Bassey Otu, last Wednesday reaffirmed his administration’s commitment to tackling climate change by advocating for the restoration of the state’s mangroves.

Otu made this remark during a courtesy visit by officials of the National Council on Climate Change Secretariat, highlighting the state’s proactive stance as the first to enact a Climate Change Law.

Emphasising the importance of collective action in addressing environmental challenges, he called for greater support for ongoing projects and increased investment in training and awareness initiatives at the community level.

“Our mangroves have suffered, but we are working on sustainable solutions. This is a testament to our full support and commitment to climate action.

“Our roadmap is strong, and our people are ready to collaborate for a greener economy”, he said.

Also speaking during the visit, the Director-General and Chief Executive Officer of the National Council on Climate Change Secretariat, Dr. Nkiruka Maduekwe, commended the Cross River government for its leadership in climate governance.

Maduekwe, who is also a Special Presidential Envoy on Climate Change, described mangroves as Nigeria’s ‘low-hanging fruit’ in climate mitigation, highlighting their economic and environmental significance.

She noted that a stakeholder town hall meeting had been held in Calabar, the state capital, to establish a concrete roadmap for mangrove restoration and conservation.

“We are excited to see a state that has not only adopted the Climate Change Law but has also developed a solid framework for a green economy.

“While we continue to engage other states, Cross River stands out as a model in driving climate action”, she said.

She, however, stressed the need for a strong legal framework to ensure effective climate action, noting that operationalising a climate change fund would be crucial in attracting global financial support.

On her part, Dr Edu Effiom, Director-General of the Cross River Council on Climate Change, reiterated the state’s efforts in mangrove restoration and carbon investment, noting that significant progress was being made.