Business
Nestlé Nigeria Invests N6bn in Youth Empowerment, Skill Development
Nestlé Nigeria underscored its commitment to youth empowerment and skill development at the recent graduation ceremony of ten young trainees from its Technical Training Centre (TTC) in Agbara.
Since the program’s inception in 2011, the company has invested over six billion naira in upskilling young Nigerians, demonstrating its dedication to fostering the next generation of skilled professionals.
Graduating in the second stream of the seventh batch of the program, these young men and women completed an intensive 18-month program that blends theoretical and practical engineering education. This rigorous training, which culminates in the City and Guilds of London Technicians’ Certification, significantly enhances the employability of the participants.
With this batch, the total number of graduates from the Agbara TTC this year reaches thirty, contributing to the over 190 young professionals who have completed the program since its inception. Notably, 97% of the program’s graduates have been employed within Nestlé Nigeria, illustrating the program’s success and impact.
Speaking at the event, Mr. Wassim Elhusseini, Managing Director/CEO of Nestlé Nigeria, said, “Our investment in upskilling these bright young minds over the last 13 years not only reflects our firm belief in the potential of the next generation but our commitment to enabling them to thrive. By bridging the technical skills gap in the industry, we are not only enhancing the employability of our youth but also empowering them to achieve financial independence, enabling them to contribute meaningfully to their communities and society at large. This is one of the ways we are creating shared value.”
Beyond the Technical Training Centre, Nestlé’s dedication to youth empowerment is also reflected in its broader youth engagement platform, Nestlé Needs YOUth. Launched in 2013, this initiative aims to help young people access economic opportunities, focusing on four pillars: getting them hired, skilled, supported, and providing them with more opportunities. Through various programs under this banner, Nestlé reaches an average of 25,000 youths annually.
Highlighting the significance of these efforts, Mr. Shakiru Lawal, the Country Human Resources Manager at Nestlé Nigeria, stated, “We are playing our part to cushion the impact of economic challenges on the youth and prepare them for the future. Some of these initiatives include our Nesternship Program, Nestlé Youth Development Program, and our active participation in the Alliance for Youth Nigeria initiative. In all, we reach over 25,000 youth annually.” He added that all graduates in this batch had also been employed by Nestlé Nigeria. “They have earned their place through dedication and excellence, and we are thrilled to welcome them to the Nestlé family.”
In his address, delivered by the Director of State Schools Sports, Comrade Rotimi Okeleye Olarotimi, the State Commissioner for Education, Science and Technology, Professor Abayomi Adelaja Arigbabu, commended the Nestlé Technical Training Centre for its commitment to empowering young minds. He also applauded the efforts of the graduates: “To the graduands, I offer my heartfelt congratulations to you. Your hard work, dedication, and perseverance have paid off, and you should be proud of your achievements. The skills and training you have acquired in the Nestlé Technical Training Centre is a powerful tool that can shape your future and open doors to new possibilities. I implore you to strive for excellence in all your endeavors and make a positive impact in your chosen field.”
Also present at the ceremony were His Excellency, the Alagbara of Agbara, Oba Lukman Jayeola Agunbiade, and representatives from the Nigeria Employers Consultative Association (NECA, and the Manufacturers Association of Nigeria (MAN), whose unwavering support has been instrumental in the success of the Technical Training Program.
The Lemon Friday Promo is Adron Homes and Properties’ most exciting and anticipated annual sales event! Every year, Adron Homes brings unbeatable deals and extraordinary benefits for people looking to invest in real estate. This year’s Lemon Friday Promo promises even bigger discounts, exclusive prizes, and unique opportunities to own land or property in premium locations. Here’s everything you need to know about the promo:
1. Incredible Discounts on All Properties
The Adron Lemon Friday Promo offers massive discounts on all Adron properties, including residential estates, commercial plots, and investment land. For a limited time, customers can buy properties at a fraction of the usual price. This is the perfect opportunity for anyone wanting to secure their dream property or add to their investment portfolio without breaking the bank.
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Adron Homes is known for its customer-friendly payment options, and the 2024 Lemon Friday Promo is no exception. During the promo period, you can pay for your property in installments, allowing you to spread payments up to 60 months or even years, depending on the package. This flexibility makes it easier for more people to achieve homeownership, regardless of income level.
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Subscribers to the 2024 Lemon Friday Promo can enjoy up to 45% discount on various properties with a payment option of up to 60months, in addition to a variety of mouth-watering gifts including bags of rice, inverters batteries, gift vouchers, and even cows. This year’s edition continues to cater to the needs of all Nigerians, ensuring that Adron Homes’ properties remain affordable, accessible, and appealing to a diverse clientele.
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The Lemon Friday Promo covers some of Adron’s most coveted locations across Nigeria. This includes properties in Lagos, Ibadan, Abuja, Ogun, Osun, Ekiti, Abuja, Jos, Nasarawa and other fast-developing areas. Each location is strategically selected for growth potential, access to amenities, and investment returns, ensuring that no matter where you buy, you’re making a sound investment.
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Leading financial institution, FirstBank of Nigeria Limited, has debunked a misleading report circulating in the media regarding a system upgrade at FirstBank, saying that no such upgrade is underway and that all operational systems are functioning maximally.
The management of the bank made this clarification in a statement made available to this medium.
The statement reads in full:
We wish to address a misleading report circulating in the media regarding a system upgrade at FirstBank.
The message which was incorrectly interpreted and reported was sent to, and intended for our vendors only and focused on transitioning from our current I-Supplier Platform (our automated platform that connects us to suppliers) to a new Cloud-based Supplier Platform (worldclass platform for managing suppliers), to enable additional capabilities and benefits for our vendors.
Please be informed that no system upgrade is currently underway, and all our customer applications are fully operational. We are not experiencing disruption to our services, and our banking systems, customer transactions, channels, etc, will not be affected by the enhanced supplier platform.
Rest assured that our commitment to seamless service delivery remains unwavering as you continue to enjoy uninterrupted access to our services.
Riding on its recently released half-year financials, Africa’s Global Bank – United Bank for Africa (UBA) Plc, has announced its unaudited results for the third quarter ended September 30, 2024, where it recorded strong and impressive growth across all its key indicators.
As in the first two quarters of the current fiscal year, the bank’s gross earnings grew significantly by 83.2 per cent to N2.398 trillion up from N1.308 trillion recorded in September last year, while its net Interest income which stood at N443.0 billion at the end of the third quarter in 2023, rose impressively by 149 per cent to N1.103 trillion in the period under consideration.
The bank’s financial report filed with the Nigerian Exchange Limited on Monday also indicated a 20.2 per cent increase in Profit before Tax (PBT) to close at N603.48 billion compared to N502.09billion recorded at the end of the third quarter of 2023, while profit after tax also rose remarkably by 16.9 per cent from N449.26 billion recorded a year earlier to N525.31 billion in the period under review.
As in the preceding two quarters this year, UBA continues to maintain a very strong balance sheet, with Total Assets rising to N31.801 trillion, representing a 54.0 per cent increase over the N20.653 trillion recorded at the end of December 2023, just as the bank benefitted largely from its technology-led initiatives targeted at improving customer experience over the past few years, with Total Deposits rising to N26.50 trillion, representing a 52.7 per cent rise, up from N17.355 trillion at the end of the last financial year.
UBA shareholders’ funds remained very strong at N3.585 trillion up from N2.030 trillion recorded in December 2023, again reflecting a strong capacity for internal capital generation and growth.
Commenting on the result, UBA’s Group Managing Director/CEO, Mr. Oliver Alawuba, expressed pleasure that the Group continues to record strong and sustainable growth in its various revenue streams, building on its strong performance earlier in the year.
“The UBA Group achieved a profit before tax of N603.5 billion and our intermediation business continues to show strong growth with net interest income expanding by 149 per cent YoY to N1.10trillion and NIM closing at 8.03 per cent, which is 17.60 per cent above the 2023 position, despite persisting macroeconomic headwinds, geopolitical tensions, insecurity, inflationary pressure and exchange rate volatilities across our markets,” Alawuba stated.
According to the GMD, the Bank’s performance has been underpinned by consistent strong growth on all core and sustainable banking income lines, as he added that “Our substantial investments in technology are yielding tangible business value. This commitment is instrumental in delivering enhanced customer experiences and optimizing operational efficiency.”
The Bank’s Executive Director, Finance & Risk, Ugo Nwaghodoh, said, “I am delighted at the milestone reached in driving operational efficiency, reflected in cost-to-income ratio normalizing around the 50 per cent range. Shareholders’ funds recorded a 77 per cent growth from N2 trillion at FYE2023 to N3.59 trillion demonstrating the Group’s significant capacity for future growth.
On plans to consolidate its performance for the rest of the 2024 financial year and beyond, Nwaghodoh said, “We remain on track with various strategies to optimize our cost of funds and operating expenses. Furthermore, the Group has finalized plans to shore up its share capital to support its medium to long term aspirations, whilst aligning with the recent regulatory requirement in Nigeria and other jurisdictions.”
On plans to consolidate its performance for the rest of the 2024 financial year and beyond, Nwaghodoh said, “We remain on track with various strategies to optimize our cost of funds and operating expenses. Furthermore, the Group has finalized plans to shore up its share capital to support its medium to long term aspirations, whilst aligning with the recent regulatory requirement in Nigeria and other jurisdictions.”
He explained that UBA remains committed to sustainable growth in its core banking revenue lines and maintaining its strong compliance and risk management culture, even as the Group identifies further opportunities to expand.
United Bank for Africa Plc is a leading Pan-African financial institution, offering banking services to more than forty-five million customers, across 1,000 business offices and customer touch points in 20 African countries. With presence in New York, London, Paris and Dubai, UBA is connecting people and businesses across Africa through retail, commercial and corporate banking, innovative cross-border payments and remittances, trade finance and ancillary banking services.
