The naira devaluation by the Central Bank of Nigeria (CBN) has reduced the wealth of Africa’s richest man, Aliko Dangote and his countryman, Abdulsamad Rabiu, by $5.85 billion. On Thursday, Bloomberg Billionaire Index disclosed that the net worth of Dangote, the founder of Dangote Group, the majority shareholder of Dangote Cement and Dangote Sugar, lost $3.12 billion. Dangote’s estimated wealth fell from $20.92 billion to $17.8 billion, as the value of his cement and food businesses was affected by the unification of the multiple exchange rates. Similarly, Rabiu, the founder of BUA Group, majority shareholder of BUA Cement and BUA…
Author: Elvis Eromosele
Investing in the Nigerian property market presents an incredible opportunity to everyone, especially diaspora buyers who desire to own property back home. To go bare about this, navigating this venture from abroad comes with unique challenges. From unfamiliarity with the local market to communication barriers and legal concerns, diaspora buyers often face obstacles that can hinder their property investment journey. In this blog post, we will explore the common challenges faced by Nigerians abroad when investing in Nigerian real estate and introduce Qshelter Limited, your go-to solution for a hassle-free home buying experience and seamless shelter solutions. As a trusted…
The Family of Late Sir Michael Enudi Okoli, has announced the burial arrangement of their late mother, Lady Catherine Ifeyinwa Okoli (Nee Ezeyim) who died on Thursday, April 27, 2023 at the age of 79 years. A statement jointly signed by Ven. (Arc.) Chuks Okoli and Emmanuel Osita Okoli confirm that the Funeral Rites for their mother will hold on Friday and Saturday, June 23 and 24, 2023 respectively, beginning with a Service of Songs at St. Augustine’s Anglican Church, Federal Housing Estate, Trans-Nkisi, Onitsha on 23rd June., followed by the Funeral Service on 24th June at the Basilica of…
By Elvis Eromosele Nigeria, one of Africa’s largest economies, has a longstanding history of grappling with currency stability and foreign exchange challenges. Over the year, the Nigerian government has employed various measures to manage its currency, the naira, including pegging it to a specific exchange rate. This naturally created two exchange rates, the official and the black market. The disparity between the two provided an avenue for people with access to dollars to buy at the official rate and resell at the black market. Many millionaires and a few billionaires were created through this distorted system. Floating the exchange rate…
Hi There! You can now download the hit single “Mere anyi ebere” for free. The song is an outcry for God’s unfailing mercy has been released by Worship Leader, Sister Elizabeth Ndubisi Eromosele. The song is based on the Bible passage that it’s by God’s mercy that we are not consumed, his compassion never fails. The steadfast love of the Lord never ceases. “Mere anyi ebere” encourages us to approach God’s throne of grace with confidence, so that we may receive mercy and find grace to help us in our time of need. You will agree with me that This…
Elvis Eromosele Payment is an important driver of commerce and socio-economic development. The evolution of payment is today revolutionizing society. Across the African continent, technology intertwines with tradition forging a path toward financial inclusion. As digital payment infrastructure expands, businesses flourish and communities thrive. The once-insurmountable challenges of accessing financial services are being overcome, opening doors of opportunity for individuals and enterprises alike. From the bustling streets of Nairobi to the vibrant cities of Johannesburg, and the ancient wonders of Egypt to the thriving markets of Nigeria, a transformative wave is sweeping across Africa. In this digital age, the continent…
Enthusiasm is a positive and passionate state of mind characterized by excitement, energy, and fervour. It is the genuine and infectious enthusiasm that individuals bring to their actions, work, and interactions with others. Enthusiasm is important for several reasons: Motivation and Drive: Enthusiasm serves as a powerful motivator that propels individuals to take action and pursue their goals with vigor. It fuels their drive and determination to overcome obstacles and achieve success. Positive Attitude: Enthusiasm cultivates a positive attitude and outlook on life. It helps individuals maintain optimism, even in the face of challenges, and encourages a proactive and solution-oriented…
My final year project was on, “The effects of Onion, Leek, and Ginger on Atherosclerosis” and I got to understand the effects of high blood pressure on the well-being of humans. Because of diet, lifestyle, and other factors, hypertension and strokes have become quite common. Then it was something that old men had in their 60s or maybe in their 50s; now, unfortunately, we’re seeing it more prevalent in men in their 30s and 40s and sometimes in their 20s due to the consumption of energy drinks, and in more cases with women. Cardiovascular diseases (CVD) are on the rise in Nigeria,…
You know there’s a problem when, on several business forums, among the business ideas, people suggest starting up a dialysis centre because of the high prevalence rate of kidney failure due to drug abuse, alcohol abuse, and different lifestyle choices. Lately, there’s been a very marked increase in the number of kidney failure cases that you see nowadays. This could be due to several factors, maybe better healthcare systems detecting the cause of illness. Earlier we would have had stories of Brief illnesses killing people off but now we have a better understanding of causes of death and diagnosis of…
Dr. Vincent Olatunji, National Commissioner, Nigeria Data Protection Bureau (NDPB), has joined the Forbes Technology Council for 2023. His appointment was disclosed in a statement issued on Tuesday by the Head of the Media Unit of the Bureau, Itunu Dosekun. Scott Gerber, Forbes Councils’ founder said their mission with Forbes Councils is “to bring together proven leaders from every industry, creating a curated, social capital-driven network that helps every member grow professionally and make an even greater impact on the business world.” Forbes Technology Council is an invitation-only community for world-class CIOs, CTOs, and technology executives. “I am delighted to…