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Nestlé Nigeria, RIDSCo Inaugurate Community Water Projects In Sagamu



Community Water Projects In Sagamu

Nestlé Nigeria Plc has inaugurated two community water projects in Sagamu, Ogun, as part of its efforts at improving the peoples livelihoods.

The water facilities, located at Tollgate and Oke Bere, PofoluOloro communities, were carried out in collaboration with Royal Initiative for the Development of Sagamu Community (RIDSCo).

Mr Korede Safiriyu, Head of Administration, Sagamu Local Government Area who represented the Local Government Chairman, said on Wednesday that the people were grateful to Nestlé Nigeria for collaborating with RIDSCo to provide the source of water.

“This site has been designated as the new location for Oba Ewusi International Modern Market.

“Water supply is a critical resource in view of the size of population when the project is completed. We are very grateful that Nestlé and RIDSCo have met this need already,’’ he said.

Also, the Iya l’Oja of Oba Ewusi market thanked Nestlé saying: “We are very excited about this borehole because before now, we used to pay a lot of money to get water.

“As we all know, without water, we can do nothing.’’

Nestlé Nigeria restated the company’s focus on improving livelihoods in the communities where it operates.

The News Agency of Nigeria (NAN) reports that the company has developed three commitments encapsulated in its core purpose of “enhancing quality of life and contributing to a healthier future’’.

“The first is helping Nigerian families to lead healthier lives, the second is working alongside stakeholders and partners to improve livelihoods, and the third, providing access to clean drinking water in its host communities.

“It is in line with this third commitment that Nestlé collaborated with RIDSCo to provide access to one of the basic necessities of life — clean and safe drinking water to the Sagamu community.

“This is one of the ways in which Nestlé creates shared value,’’ said Mrs Victoria Uwadoka, Nestlé Nigeria’s Corporate Communications and Public Affairs Manager.

“Nestle believes that the company will create long-term sustainable value for its shareholders if it also creates value for the communities where it operates.

“Our success has been, and always will be tied to our respect for the environment and the people we work with.

“In line with this focus, we work alongside partners like RIDSCo, to contribute to the society while ensuring the long-term success of our company.

“This principle is called Creating Shared Value (CSV) and it is embedded in every aspect of the Nestlé’s business,’’ she said.

She said that over the years, Nestlé had built various drinking water facilities around its factories located in Agbara, Ogun, and Abaji in the Federal Capital Territiry.

“These water fountains channel 7,117,500 litres of clean potable water annually to over 5,800 people in the communities closest to Nestlé’s factories.

“The same source of water which goes into the production of Nestlé Pure Life goes into these communities.’’

Contributing, Nestlé Flowergate Factory Manager, Mr Ibukun Ipinmoye, said: “We are here today, to demonstrate again our strong commitment to improving livelihoods in the communities where we operate.

“We are confident that these two water projects at the Tollgate and Oke Bere, Pofolu-Oloro will go a long way towards improving the lives of the people within the Sagamu community.’’

Dignitaries and stakeholders as well as representatitives of the projects beneficiaries were at the inauguration.

Nestlé Nigeria Plc began simple trading operations in Nigeria in 1961 and has today grown into a leading food manufacturing and marketing company. Nestlé Nigeria is the biggest food company in West Africa.

Nestlé Nigeria employs around 2,400 people and has three world class factories.

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Nigerian News

IATA Inaugurates Turbulence Aware Data Resource To Forecast Turbulence




IATA Inaugurates Turbulence Aware Data Resource To Forecast Turbulence

The ability of airlines to forecast and avoid turbulence would now be greatly enhanced as the International Air Transport Association, IATA, has inaugurated a turbulence aware data resource.

IATA said the system would pool and share turbulence date generated by participating airlines. The global body for airlines said before now, airlines had to depend on reports and weather advisories from pilots to offset the impact of turbulence.

IATA says the result would be the first global, real-time, detailed and objective information for pilots and operation’ professionals to manage turbulence.

It is expected that airlines operating in Nigeria would participate and benefit from this new system.

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Nigerian News

Oil Price Stability Buoys Nigeria’s Budget Benchmark




Oil Price Stability Buoys Nigeria's Budget Benchmark

Nigerian budget benchmark appears buoyed by oil price stability as a result of cuts in production levels to which OPEC members have agreed.

The benchmark of sixty dollars was eroded by sustained drops in price. The high for the year was eighty-six dollars which dropped to about fifty-eight dollars last week.

It rebounded to sixty-two dollars per barrel last week, just as the federal executive council was to hold an emergency meeting on how the price drops would affect the Nigerian budget.

Opec countries had agreed to reduce daily production by eight hundred thousand barrels, while non-OPEC members decided to reduce production by four hundred thousand barrels per day.

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Business News

CBN And MTN Plan To Settle $8b Rift Out Of Court




CBN And MTN Plan To Settle $8b Rift Out Of Court

It seems as though the Central Bank of Nigeria and telco giant, MTN, are trying to find ways of resolving the $8 billion rift between them. One of MTN’s lawyers is quoted as saying they are making moves toward an out-of-court settlement.

Meanwhile, counsels for both parties have secured another adjournment until late January.

Another $2 billion case involving MTN and the Nigerian attorney general’s office was adjourned as well last week until early January.  This case is related to alleged back taxes owed by MTN.  The telco giant has denied it owed the taxes.

The $8 billion case was a result of a charge against MTN for allegedly violating Nigeria’s extant laws.  In August, Central Bank of Nigeria sanctioned MTN Nigeria for allegedly using irregular certificates of capital importation to transfer $8.1 billion to South Africa on behalf of its offshore investors.

MTN is being asked to return the $8.1 billion to Nigeria.

Mtn group’s Nigerian operations account for one-third of its entire African market share.

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