Business
Dangote-led Committee Begins Distribution of N1.5bn Relief Items to Flood Victims Nationwide
The Dangote-led Presidential Committee on Flood Relief and Rehabilitation (PCFRR), otherwise known as Dangote Flood Committee has commenced the distribution of relief materials, worth N1.5 billion to victims of flooding nationwide.
The PCFRR, which was established by the Federal Government following the 2012 flooding, is co-chaired by Africa’s foremost industrialist Aliko Dangote and Dr. Olisa Agbakoba.
The flagging off ceremony for the relief materials distribution for this year started in Borno State and was conducted by the State Governor, Professor Babagana Umara Zulum Tuesday in Maiduguri, Borno State capital. The Governor thanked the Dangote Flood Committee and promised that he will ensure that the items get to the victims.
UNICEF revealed that the 2022 flood killed 600 people, displaced 1.3 million and destroyed more than 82,000 homes in Nigeria, therefore making it the worst in decades.
The Representative of the Dangote-led Presidential Committee on Flood Relief and Rehabilitation (PCFRR), Alhaji Umar Musa Gulani assured at the flagging off for the Northeast zone that the exercise would also be conducted in the other five geopolitical zones of the country.
Gulani said the items from the Committee have been officially handed over to the Borno State Government and the National Emergency Management Agency (NEMA). He said the exercise would be conducted across the six geo-political zones, beginning from the northeastern State of Borno.
The breakdown of items donated includes 86 bags of rice, 34 bags of beans, 34 bags of maize, 34 bags of millet, 34 bags of Guinea Corn, 34 bags of Garri, 86 cartons of noodles, 86 cartons of spaghetti, 86 cartons of macaroni and 86 bags of sugar, and 857 bags of cement, among several food and non-food items.
Gulani said over N10 billion has been expended by the committee to mitigate the effect of flooding since inception in 2012, adding that no fewer than 84 Hostels have been built for flood victims in 24 states of Nigeria.
Director General of NEMA Alhaji Mustapha Habib Ahmed described the Committee’s intervention as a milestone for Nigeria in general, and flood victims in particular. “Responding to the humanitarian outcomes of this nature requires concerted effort,” the DG said, and added that the donation by the Dangote Flood Committee would eventually be made available to flood victims across the affected states in Nigeria.
Speaking on behalf of the victims, Khalifa El-Miskin said the victims were extremely appreciative of the gesture.
It would be recalled that the Committee also recently, during the spread of the COVID-19 pandemic, donated N1.5 billion to fight the virus. Announcing the donation, Dangote said it was imperative for well-meaning Nigerians to help the Federal Government in fighting the virus.
The Committee also recently provided N250 million as relief assistance to victims of the devastating floods in Benue State. Aside from the donation in Benue, the Dangote-led committee also revealed that it had also donated the sum of N150 million (in kind) to provide relief assistance to flood victims in Anambra State.
It also released the sum of N118 million to NEMA to augment the N1.6 billion released by the Federal Government for procurement of food and non-food relief materials in aid of the flood victims in the following 16 states: Abia, Akwa-Ibom, Bayelsa, Ebonyi, Edo, Ekiti, Enugu, Abuja FCT, Kebbi, Kwara, Lagos, Niger, Ondo, Oyo, Plateau, and Sokoto.
It would be recalled that the Committee at its inauguration by former President Goodluck Jonathan raised a whopping N11.35 billion for flood victims. Top on the list of donors at the event was Dangote and the Federal Government, who donated N2.5 billion each.
In demonstration of its commitment to financial empowerment targeting Youths, Unity Bank Plc has again championed the cause of financial literacy by facilitating Training in 13 secondary schools across Nigeria to commemorate the 2025 Global Money Week.
Held under the theme, “Think before you follow, wise money tomorrow,” this year’s engagement focused on helping young people develop discernment and critical thinking in making financial decisions, particularly in an era shaped by social media influence and digital distractions.
Unity Bank’s Managing Director/Chief Executive Officer, Mr. Ebenezer Kolawole, supported the initiative as the Bank held an impactful session at Boys Model Secondary School, Owerri, Imo State. Represented by the Bank’s Zonal Head, South South/South East, Mr. William Odigie, Mr. Kolawole shared practical lessons on financial responsibility, guiding students on how to cultivate savings culture, investment and financial management; advising against any impulsive financial behaviours, more especially those involving online.
Speaking through the Zonal Head during the Training session, Mr. Kolawole emphasised the importance of being exposed early to financial management: “The habits you form now around saving, spending, and investing will shape your financial future. It’s not about how much you have, but how wisely you manage it.”
In each of the 13 schools visited nationwide, Unity Bank’s facilitators engaged students in interactive discussions, practical money management exercises, and quizzes. Participating students who displayed exceptional skills at various sessions got recognition and were presented with branded gift items to strongly reinforce the financial literacy training.
Recall that recently, Unity Bank launched GenFi digital banking app, a youth-focused solution designed to empower children and teens with smart money habits through gamified learning, goal-setting, and parental guidance. The participation of the Bank in the financial literacy training marks this year’s Global Money Week is to further Youth engagement.
Global Money Week is a worldwide initiative coordinated in Nigeria by the Central Bank of Nigeria in collaboration with the Bankers’ Committee and Junior Achievement Nigeria. The engagement aims to instil sound financial knowledge and habits in young people from an early age, being a strategy to promote financial inclusion.
Unity Bank has continued to invest in youth-focused financial education as a clear demonstration of its unwavering commitment to empowering Nigeria’s next generation for financial independence and self-reliance.
Business
Nestlé, AGRA, TechnoServe Launch Groundbreaking Climate-Smart Agriculture Initiative in Nigeria
In a bold step towards building a climate-resilient agricultural sector, AGRA, Nestlé Nigeria, and TechnoServe have launched the Strengthening Farmers’ and SMEs’ Resilience through Climate Smart Grain Production and Accessing the Structured Markets (StreFaS) initiative in Nigeria.
StreFaS is a three-year initiative, funded by AGRA and Nestlé, that will run from June 2024 to October 2027. The program aims to support 25,000 smallholder farmers and eight aggregators across Kaduna and Nasarawa States, promoting sustainable production of maize, soybean, rice, and sorghum. It focuses on integrating regenerative agriculture into every step of the value chain, with particular emphasis on empowering youth and women.
StreFaS will help improve soil health, lower greenhouse gas emissions, increase biodiversity, and strengthen economic resilience. Furthermore, the program connects smallholder farmers to formal markets, including Nestlé’s supply chain, enabling them to receive premium prices for climate-smart produce.
The launch event, held in Zaria, Kaduna State, brought together high-level representatives from the government, development partners, private-sector stakeholders, and members of the media.
The event featured keynote speeches from implementing partners, a case study from a climate-smart farmer, and a powerful project overview underscoring the initiative’s role in transforming Nigeria’s grain value chains.
In her welcome address, Mrs. Adesuwa Akinboro, Country Director of TechnoServe Nigeria, described the STREFAS initiative as a transformative step for Nigeria’s agricultural sector.
“This project represents a bold commitment to supporting smallholder farmers and agribusinesses with the tools, knowledge, and market access they need to thrive in the face of climate change. STREFAS is not just about boosting yields—it’s about regenerating our soils, restoring dignity to farming, and creating a more inclusive and sustainable future for communities across Kaduna and Nasarawa States,” she said.
“We are proud to co-lead this initiative that puts farmers first — not just by introducing new practices, but by rebuilding the very ecosystems that sustain farming — core to AGRA’s approach to sustainable and resilient food systems transformation,” said Dr. Rufus Idris, AGRA’s Country Director for Nigeria.
Speaking on Nestlé’s commitment, Mr. Wassim Elhusseini, CEO of Nestlé Nigeria, added:
“At Nestlé, we believe that good food starts with high-quality ingredients and the well-being of the people who produce them. Our partnership in this initiative underscores our commitment to sustainable sourcing and decarbonizing our value chain. Globally, we aim to source at least 50% of our key ingredients from farmers practicing regenerative agriculture by 2030. With an investment of over $1,000,000 in this project over the next three years, we aim to contribute towards establishing regenerative agriculture as the standard in the food industry, addressing both environmental and social priorities holistically.”
Speaking at the event, the Commissioner, Ministry of Agriculture, Kaduna State, Honourable Murtala Muhammad Dabo stated “This launch marks a significant milestone in our journey towards a more sustainable agricultural future. I commend TechnoServe and its partners for their dedication to promoting climate-smart agriculture practices in Kaduna State. Let us continue to work together to empower farmers, improve food security, and build a climate-resilient agricultural sector. I wish you all the best in this endeavor.”
On the sidelines of the launch, MAGGI celebrated the Soya Bean farmers who were part of the regenerative agriculture pilot project. One of the farmers Engineer Lawan Abdul, shared a compelling testimonial.
“Since I started adopting the strategies, we were taught in this project, my yields have increased by 100%. This was very surprising and encouraging for me. I am very happy with the outcome and thank the project partners and MAGGI for bringing this opportunity to us.”
The StreFaS initiative is aligned with AGRA’s 3.0 Country Strategy, Nestlé’s 2030 Climate resilience sourcing goals, and TechnoServe’s proven expertise in building market-driven solutions for rural prosperity.
By connecting smallholder farmers to better tools, markets, and capital, StreFaS will scale regeneration in ways that are profitable and empowering. As implementation continues, the program will deepen collaboration with government, private sector, and civil society partners to sustain scalable change across Nigeria’s grain value chain.
Shareholders of tier one lender, Fidelity Bank, have applauded the board and management of the bank for delivering an outstanding performance in FY 2024.
Speaking at the 37th Annual General Meeting (AGM) held virtually on Tuesday, April 29, 2025, the National Chairman of The Progressive Shareholders Association, Chief Boniface Okezie, praised the bank.
“This is a superlative performance and we the shareholders are grateful to management and staff for giving us a bank to be proud of,” he said. “It is also important to note that the bank has earned its spot as one of the top 3 dividend-paying financial institutions in Nigeria.”
In his remarks, the Chairman, Zonal Shareholders Committee, Sir Tunji Okelana, recognized the bank’s exceptional leadership, which has seen the bank grow to unprecedented heights.
“The achievements of the current MD have surpassed those of everyone who held that office before her. In addition, staff working with her are assets. They are truly ‘Fidelity, they keep their word’. Without any doubt, I am very happy with the bank”, he declared.
Chairman, Board of Directors, Fidelity Bank Plc, Mr. Mustafa Chike-Obi, said, “Despite the global economic headwinds, we demonstrated exceptional resilience, achieving record breaking growth across all performance indicators, most notably our Profit Before Tax (PBT)”.
The chairman further noted that the bank’s stakeholders were all pleased with the success of the first stage of the capital-raise exercise.
“The oversubscription of 237.9% in the Public Offer and 137.7% in the Rights Issue is a testament to the strength of our brand and the confidence the investing public has in us. Equipped with this vote of trust, we will proceed swiftly and conclude the second tier of our capital-raise exercise”.
Managing Director/Chief Executive Officer, Fidelity Bank Plc, Dr Nneka Onyeali-Ikpe, in her statement to shareholders, shared the strategic outlook to build on the bank’s FY 2024 success.
“Our priorities in the 2025 financial year are to complete the next phase of our capital raise and further strengthen our asset base, enhance operational efficiency and digital innovation and explore strategic regional expansion into select African markets,” she said.
According to the bank’s 2024 annual report available on its website and distributed to shareholders, the bank recorded an impressive 210% growth in Profit Before Tax to N385.2 billion.
Gross Earnings increased by 87.7% to N1,043.4bn, driven by 106.9% growth in interest and similar income to N950.6bn. The bank also witnessed an impressive 47.9% growth in deposits from N4.0trn in 2023FY to N5.9trn while Advances grew from N3.1tn in 2023FY to N4.4tn in 2024FY.
Several resolutions were considered and passed at the AGM, including the declaration of a final dividend of N1.25 kobo, the election of non-executive directors – Alhaji Abdullahi Sarki Mohammed and Ms. Obiaku Augusta Okam; the election of Mr Sufiyanu Ibrahim Garba as executive director; and the re-election of non-executive directors – Mr Mustapha Chike-Obi and Engr Henry Obih, among others.
Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.
Its multiple local and international awards include the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine.
Additionally, Fidelity Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.
