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Nestlé Nigeria Commissions Third Technical Training Center in Nigeria

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Anthonia Ehibor is one of the twenty trainees admitted into an 18-month Technical Training program at Nestlé Nigeria’s newest Technical Training Center (TTC) at the company’s Flowergate Factory in Ogun State.

Anthonia, an indigene of Edo State with an Ordinary National Diploma (OND) in Engineering from the Federal Polytechnic Auchi, aspires to develop her technical competence in order to secure a good job in her chosen field. “I need to earn an income to meet my needs and to support my family,” she said. Nestlé Technical Training Center, Flowergate is the third facility set up by Nestlé in the country, in line with her commitment to help young people build the capabilities and skills they need to contribute towards accelerating industrialization.

The first technical training centre was inaugurated in 2011 at Nestlé’s Agbara factory in Ogun State and in 2017, opened the second centre in the Abaji factory, in the Federal Capital Territory to cater for young people in the Northern part of the country. Trainees participate in an intensive 18-month program which builds their competence in machining, mechanical fitting operations, electrical operations, instrumentation operations and automation, culminating in the prestigious London City and Guilds technical certification examination.

Speaking at the commissioning of the Flowergate TTC, the MD/CEO, Nestlé Nigeria, Mr Wassim Elhusseini said, “The technical training program is an initiative of our global flagship program, Nestlé Needs Youth. The program is one of the sustainable pathways through which we contribute to meeting the technical needs in the industry while enabling young Nigerians access economic opportunities. Young people have a key role to play in shaping the future we desire. We are determined to remain at the forefront of the fight against youth unemployment by helping young people develop the capabilities and skills they need to contribute towards accelerating the industrialization we need to grow our economy”.

Participants at the ceremony included parents, the trainees, the Traditional Ruler of Remoland and community leaders, representatives of the Government of Ogun State, Industry associations, and program partners including the Switzerland Embassy and Nigerian Employers Consultative Association (NECA).

The Ogun State Commissioner for Education, Science and Technology, Prof. Abayomi Arigbagbu said, “The set-up of Nestlé’s third technical training center in the country and second in Ogun State, attests to her commitment to manpower development, capacity building and technical skills acquisition, also focus areas for the Ogun State Ministry of Education, Science and Technology. I sincerely appreciate the company for her investments towards building the competences of young people over the years and for her support and collaboration on the State Government’s effort towards improving technical education in the state”.

In his comments, Mr. Wale Oyerinde, Director General, Nigerian Employers Consultative Association (NECA) said “With the rising unemployment and challenged educational system, one of the sure paths to rapid national development is Technical and vocational skills development. We commend Nestlé for her commitment and massive investment, not only in youth development but also in skills and National development. This effort is commendable and also worthy of emulation by other companies”.

Also speaking at the event, the Ogun State Commissioner for Youth and Sports Development, Dr Kehinde Oluwadare said, “I congratulate Nestlé Nigeria as she continues to contribute to the development of young people in Ogun State and the nation by prioritizing skills development and job creation. I am particularly delighted that the vision of the company is in tandem with the focus on youth empowerment by the Prince Dapo Abiodun led Administration”.

HRM, Alaiyeluwa Oba Babatunde Adewale Ajayi, the Akarigbo and Paramount Ruler of Remoland said, “We are proud to be associated with Nestlé, particularly on the commencement of this wonderful initiative. I commend the Management of the company for investing in technical education of young people, who are the future of the country. We will make sure the company continues to have the enabling environment to continue to do good for and within this community”.

Expressing her delight on behalf of the trainees, Anthonia Ehibor, said, “We are excited to be the pioneer students of Nestlé technical training centre, Flowergate. We appreciate Nestlé Nigeria for creating this opportunity for us to gain the skills we need to be future-ready. We look forward to learning, sharing ideas and networking within the 18 months of the training. You can count on us to put in the hard work and commitment required to make you and our parents proud”.

Over 160 students have benefitted from the technical training program since its inception, with 95% of them directly employed by Nestlé Nigeria. Country HR Manager, Nestlé Nigeria PLC, Shakiru Lawal, announced the resumption of 50 new students across the three training centres at Agbara, Abaji and Flowergate in the past week

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Record Financial Performance: Fidelity Bank Plc Promotes 11% of Workforce

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Leading financial institution, Fidelity Bank Plc has announced the promotion of 11% of its workforce, a testament to the exceptional performance and dedication of its employees.
This significant move follows the release of the bank’s 2023 full year Audited Financial Statements, which reported an impressive 131.5 percent growth in Profit Before Tax (PBT) to N124.26 billion.
The recent promotions span every level within the bank, reflecting Fidelity Bank Plc’s commitment to recognizing and rewarding excellence across its entire organization. This strategic initiative has garnered positive reactions from staff members, who see it as a validation of their hard work and contribution to the bank’s remarkable financial achievements.
In addition to the promotions, Fidelity Bank Plc has also concluded arrangements to raise a total of N127.1 billion through a Rights Issue to existing shareholders and a Public Offer. This move is part of the bank’s broader strategy to strengthen its capital base, support future growth, and enhance shareholder value.
Fidelity Bank Plc’s impressive financial performance and the subsequent employee promotions highlight the bank’s robust operational strategy and its commitment to fostering a rewarding work environment. By investing in its people and ensuring their career growth, the bank continues to build a motivated and high-performing workforce.
Ranked as one of the best banks in Nigeria, Fidelity Bank Plc is a full-fledged customer commercial bank with over 8.5 million customers serviced across its 251 business offices in Nigeria and the United  Kingdom as well as on digital banking channels.
The bank has won multiple local and international awards including the Export Finance Bank of the Year at the 2023 BusinessDay Banks and Other Financial Institutions (BAFI) Awards, the Best Payment Solution Provider Nigeria 2023 and Best SME Bank Nigeria 2022 by the Global Banking and Finance Awards; Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence 2023; and Best Domestic Private Bank in Nigeria by the Euromoney Global Private Banking Awards 2023.
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FirstBank Partners International Women’s Society to Empower Women

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First Bank of Nigeria Limited has partnered with the International Women’s Society (IWS) to empower over 250 widows, in commemoration of the 2024 International Widows’ Day.

The News Agency of Nigeria (NAN) reports that beneficiaries at the Lagos event, tagged “IWS Widows Feast and Empowerment Programme”, received various essential tools, equipment and grants. The items distributed were sewing machines, freezers, coolers, hair dryers, cake mixers, industrial cooking gas, generators, and freezers to help the widows establish and sustain their businesses.

Ms Lande Atere, Chief Customer Experience Officer, FirstBank, said that the financial institution had been partnering with IWS for over a decade. According to her, the bank has been empowering women-owned Small and Medium Enterprises (SMEs) with funding and skills acquisition.

“As an organisation that strategically prioritises financial inclusion, we will continue to support IWS in creating entrepreneurial opportunities and promoting self-reliance and vocational skills among women,” Atere stated.

Mrs Adebanke Adeola, Chairperson of the International Women’s Society (IWS) Widows Trust Fund (WTF), appreciated FirstBank for supporting the society in empowering and feasting with the widows. Adeola mentioned that the bank provided Point of Sale (POS) machines to improve the benefiting widows’ access to financial services and income generation opportunities.

Also, some beneficiaries would receive extra working capital through the generosity of the financial institution and other sponsors.

“This partnership, along with generous sponsorships from other companies and individuals, enables us to continue our mission and expand our impact. The programme, organised yearly, aims to help widows achieve financial independence and self-sufficiency,” Adeola said.

Culled from NAN

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Fidelity Bank Leads Trading As Equities Gain N324bn

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Fidelity Bank Plc was the most active stock on Monday, 10 June 2024 at the Nigerian stock market as a strong positive sentiment led Nigerian equities to a net capital gain of N324 billion in the first trading session of the week.
The market opened with widespread positive sentiment as investors sought to lock into value stocks in the high-end sectors of oil and gas, construction and manufacturing.
With three gainers for every loser, the market closed with average return of 0.58 per cent, equivalent to net capital gain of N324 billion.
The momentum of activities also improved considerably as total turnover rose by 148.33 per cent to 963.541 million shares valued at N13.498 billion in 8,657 deals. Fidelity Bank topped the activity chart with 605.257 million shares valued at N6.025 billion.
Fidelity Bank’s activities appeared to be driven by buy sentiment as the stock closed within the top 15 gainers with a gain of 6.52 per cent to close at N9.80 per share.
The All Share Index (ASI)- the common value-based index that tracks all share prices at the Nigerian Exchange (NGX), rose by 0.58 per cent to close at 99,793.71 points as against its opening index of 99,221.14 points.
Aggregate market value of all quoted equities also increased simultaneously from its opening value of N56.128 trillion to close at N56.452 trillion.
Other most active stocks included Access Holdings, which recorded turnover of 93.067 million shares worth N1.744 billion. United Bank for Africa (UBA) traded 58.726 million shares valued at N1.261 billion. Nigerian Breweries traded 45.256 million shares valued at N1.267 billion while Zenith Bank traded 16.079 million shares worth N539.552 million.
Analysts at Futureview Financial Services said they anticipated a mixed sentiment in the equities market, primarily due to the enduring allure of the fixed income market among investors.
“This interest is fueled by expectations of increased rates in the Nigerian Treasury Bill (NTB) auction and the impending release of the inflation rate. However, amidst these factors, there remains an opportunity for sustainable growth, particularly in fundamentally strong stocks that currently find themselves in the oversold region. We foresee a selective pursuit of bargains, particularly in dividend-paying stocks, driven by the nearing corporate qualification and payment,” Futureview stated.
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