Business
Glamour, Fun As Sunquest Partners Zenith, BandRus, Others to Host First Ever Alimosho Food Festival
By Eric Elezuo
The Youth Centre in the heart of Abesan Town in Alimosho Local Government Area of Lagos State, came alife penultimate Sunday, when Sunquest Discovery Limited in association with Zenith Bank, BandRus, MMS among others hosted the first ever food festival in the area.
Successful in all ramifications, stakeholders in the food sector, from all walks of life, gathered to showcase their culinary skills and technology embedded in the preparation of local and continental dishes and other edibles while calling on the local and state governments to address inflation and tackle the high cost of food materials so as to curb poverty in the country.
Speaking on the intentions behind the festival, the Chairman Sunquest Discovery Limited, the organisers of the festival, My Isiaka Lawal, said the festival was organised to give opportunities to good vendors to showcase their products as well as allow consumers to purchase food at cheaper prices against the high cost in the market.
He added that Alimosho, being the largest local government in Lagos State, was chosen because of its high population as it would afford more people the opportunity to benefit from the event.
“We understand the plight of the ordinary in trying to make a living, and also the fact that eating healthy food at affordable price will help to face the task of building the nation from all fronts.
“The cost of food as well as food shortage have become a problem in Nigeria which should be addressed by the government. While we call on the government to tackle the problem so as to make life easier for Nigerians, we have chosen this food festival to contribute our quota to alleviating the problem,” Lawal said.
He added that the festival also afforded the organizers the opportunity to test run an application which would allow food vendors to market their goods online.
On their part, stakeholders and food vendors also spoke of their expectations from both the government and organisers, citing high cost items as their major challenge.
One of the vendors, Mrs Omoluyi Esther, who deals in sales of local food commended the organizers for putting together the event.
She however, lamented the daily increase in food items, which according to her, is affecting many companies involved in food production business.
“As small scale business owners, there are challenges we are facing such as daily increases in prices of food.
“Today you buy something for N200 and tomorrow it goes up to N500. Government should try to make sure there is money in circulation and bring down prices of food stuff. In that way, they can address food scarcity,” she said.
Another vendor, Mrs Adekunle Olamide of Checkers Food said for the government to reduce poverty, ‘ it should help to reduce in prices of goods.’
“They should make sure there is stability in the economy. The instability is affecting all brands and they are finding it hard to get materials for production. When they increase prices of their goods, it’s the consumers that bear the brunt. So the government should help us stabilize Nigeria’s economy so that brands will find it easier to produce,” she urged.
A Nollywood actor, Joseph Momodu, who was the special guest at the event commended the quality of food on display at the festival.
“The kind of food you see here, you might need to order them online before you get them, but this event has offered people the opportunity to get them at their doorsteps and cheaper. The festival is of great significance to everyone,” he said.
He added: “There is hunger in the land. The government should help us subsidize food stuff to the nearest minimum to make food available. They should also control inflation especially the dollar scarcity so that the common man can do his or her business. They promised us that dollar will go down but it’s not so now. Government should do their business so that the masses can enjoy.”
While appreciating the over 22 ventures, and all the stakeholders and sponsors, who turned up for the successful test run of the first edition, the Creative Director of Sunquest Discovery, Adekoya Afeez, said the quality of food and products was commendable, promising that the subsequent editions of the festival will be bigger, and also be taken to other parts of the state so that the entire state can feel the impact of the fieata.
Adekoya also invited more stakeholders and sponsors to join hands with the company as they get ready to host another edition in no distant time.
The highlight of the event was display of acrobotics and choreographed dance steps from happy participants and distribution of various food items by sponsors including Labule Farms, which gave out lots of garri, Checkers Custard and a host of others.
UBA Group senior executives recently concluded the Group’s Half Year Business Review. Held at global headquarters in Lagos Nigeria, Group Managing Director/CEO, Oliver Alawuba, brought together executives responsible for UBA’s twenty-four countries of operation.
It was an opportunity to restate the Group’s pan-African strategy, and commitment to further expanding the Group’s coverage across high potential markets across Africa, while also deepening its operations in its existing twenty African presence markets. With over 51.7% of Group revenues from ex Nigerian operations, UBA’s journey to being Africa’s most diversified financial services group was clearly in evidence,
The international strategic intent reinforces with the Group’s intention to deliver innovative financial solutions to its fast-growing global customer base. The strategy demonstrates UBA’s unique position as Africa’s global bank and ability to leverage growth opportunities in emerging and leading African markets.
The Group commenced its Pan African journey, with its entry into Ghana in 2004, followed by rapid expansion into 18 additional African markets. Today, as a resilient and future-focused institution, UBA continues to push boundaries by connecting Africa to the world and the world to Africa.
Mr Alawuba highlighted the Group’s expansion plans, disclosing that the Group is excited about the vast opportunities that the new markets present, a testament to UBA Group’s confidence in the African economy, providing world-class banking services that meet the continent’s evolving needs.
“UBA’s vision is clear – we are building a truly global institution anchored in Africa, but serving customers across continents. Further strategic expansion positions us to unlock new opportunities, support intra-Africa trade, and deliver world-class banking experiences wherever our clients choose to do business,” Alawuba said.
“In Europe, UBA has operations in the United Kingdom and upgrading its license in France, expanding its capacity to serve cross-border trade, investment flows, and the African diaspora, complementing our over 40-year presence in NY. These moves signal a clear message of UBA’s intent to reshape the competitive landscape”, Alawuba further said.
As part of the Group’s plan to expand its global presence, UBA, in January, announced plans to open operations in Saudi Arabia.
Operating in twenty African countries and the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting edge technology. United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees’ group wide and serving over 45 million customers globally.
Ecobank Nigeria, an affiliate of the leading pan-African banking group, Ecobank Group, has announced a comprehensive suite of innovative financial solutions designed to support all key stakeholders within the education ecosystem. These offerings are aimed at driving financial inclusion, operational efficiency, and sustainable growth across the sector.
For school owners and educational leaders, Ecobank offers cash-backed loans to support both operational and capital expenditures. These are complemented by treasury management tools that enhance financial oversight, along with digital collection platforms that ensure seamless and efficient school fee processing. Teachers and non-teaching staff also stand to benefit significantly. Ecobank provides salary access tools that enable timely and flexible income management, career development programs to support continuous professional growth, and financial wellness plans designed to promote long-term financial stability.
Suppliers and partners within the education value chain benefit from tailored financial solutions such as invoice factoring for improved cash flow, inventory financing to maintain operational continuity, and marketplace visibility to expand their reach and business opportunities within the sector.
Speaking at the unveiling event in Lagos, Kola Adeleke, Executive Director, Commercial and Consumer Banking at Ecobank Nigeria, reaffirmed the bank’s commitment to empowering the education sector with practical financial solutions that address real-world challenges, enabling all participants, from institutions and educators to families and partners, to thrive.
“Our integrated financial and non-financial propositions form part of a broader strategy to strengthen our leadership in the education financing space, while contributing meaningfully to national and continental goals around access, equity, and excellence in learning. We have designed these solutions to meet the diverse needs of school proprietors, teaching and non-teaching staff, students, and parents. Ecobank is committed to empowering the education sector through seamless collections, access to credit, and a suite of sustainability-focused offerings. Education is a pillar of national development, and we recognize the sector as an integrated system of needs and opportunities. Our goal is to support this system not just with financing but also with digital tools, career development programs, and sustainability initiatives,” he said.
Also speaking, Adebukola Ademiluyi, Head of Education, Faith, and Social Services at Ecobank Nigeria, highlighted the bank’s commitment to affordable and inclusive financing options. She noted that by integrating smart financing with sustainability, digital infrastructure, and inclusive participation, Ecobank is pioneering a full-service banking model tailored to the realities of Africa’s education sector.
“More than just funding, we are enabling seamless school management systems through API partnerships that digitize operations such as student registration, staff payroll, inventory management, and parental communication. We also place strong emphasis on supporting parents and guardians, providing financial planning tools, access to student loans, merit-based scholarships, and child progress monitoring systems. These innovations are designed to ease financial burdens and deepen parental involvement in their children’s academic journeys,” she said.
Zenith Bank Plc has retained its position as the Number One Bank in Nigeria by Tier-1 Capital for the sixteenth consecutive year, in the 2025 Top 1000 World Banks’ Rankings, published by The Banker, Financial Times Group, United Kingdom.
This ranking places Zenith Bank Plc as the 581st Bank globally, with a Tier-1 Capital of $2 billion.
The global rankings, published in the July 2025 edition of The Banker, was based on the 2024 year-end Tier-1 capital of banks. This is the primary basis for most international organizations’ assessments of banks.
Commenting on this achievement, the Group Managing Director/CEO of Zenith Bank Plc, Dame (Dr.) Adaora Umeoji, OON, said, “We are thrilled to have retained our position yet again as the Number One Bank in Nigeria by Tier-1 capital for the 16th consecutive year. This achievement is a reflection of the bank’s robust financial performance, prudent risk management and steadfast dedication to delivering exceptional value to our customers and stakeholders”.
She thanked the Founder and Chairman, Jim Ovia, CFR, for his visionary and transformative leadership which has played a pivotal role in cultivating a resilient and thriving institution. She also expressed her deepest appreciation to the bank’s esteemed customers for their continued loyalty to the Zenith brand, the Board for the sound corporate governance, and the staff for their relentless & tireless efforts in ensuring the bank’s success.
Tier-1 Capital describes capital adequacy, the core measure of a bank’s financial strength from a regulator’s perspective. According to the ranking, Tier-1 Capital, as defined by the Bank for International Settlements (BIS) guidelines, includes loss-absorbing capital, i.e., common stock, disclosed reserves, retained earnings, and minority interests in the equity of subsidiaries that are less than wholly owned. A strong Tier-1 capital ratio boosts investor and depositor confidence, indicating the Bank is well-capitalised and financially stable.
According to the audited financial results for the 2024 financial year presented to the Nigerian Exchange (NGX), the Bank recorded a double-digit growth of 86% in gross earnings, increasing from N2.13 trillion in 2023 to N3.97 trillion in 2024. This growth was driven by a 138% increase in interest income, supported by investment in high-yield government securities, and growth in the Bank’s loan book.
Zenith Bank’s profit before tax (PBT) rose by 67%, reaching N1.3 trillion in 2024 from N796 billion in 2023. This performance saw the bank record an unprecedented total dividend payout of N195.67 billion at N5.00 per ordinary share in the 2024 financial year.
