Connect with us

National News

VP Shettima Extols UBA’s Dedication To Innovation, Emerging Markets At 75

Published

on

VP Shettima Extols UBA’s Dedication To Innovation, Emerging Markets At 75

** Says bank has shaped narrative of what African institutions can become

By: Our Reporter

The Vice President, Senator Kashim Shettima, has extolled what he termed the staying power of the United Bank of Africa (UBA Group) in the past 75 years, describing the financial institution as a pacesetter in innovation, emerging markets and generational ambition.

“Seventy-five years is not something you pick up at a supermarket. It is earned. It’s through risks and calculations, through storms and sunshine, through mergers and acquisitions, and through the brainpower and courage of those who believe in its promise of a new world. That is what leadership means,” he declared.

Senator Shettima, who spoke on Friday evening during the UBA 75th Anniversary Dinner at Transcorp Hilton Hotel in Abuja, noted that the celebration of an institution like UBA “that has outlived generations and still pulses with the vibrancy of youth” is not something that happens everyday.

He said, “The United Bank for Africa, or simply UBA, is not what it is because of the age of its ideas. It is what it is because of the attention it pays—attention to innovation, attention to emerging markets, attention to shifting dreams, and attention to the changing contours of generational ambition.

“UBA has remained a pacesetter because it is led by people who do not just manage capital, but manage curiosity”.

Applauding UBA for outliving all its contemporaries, VP Shettima attributed its staying power to its passion for relevance, even as he described the bank as a quintessential specimen of what an African institution could become by institutionalizing excellence.

His words: “UBA’s staying power is owed to its pursuit of relevance. It has stood as a reward for new thinking, expanding not just across geography, but across ideas.

“It serves millions, it shapes economies, and it influences the narrative of what an African institution can become when excellence is institutionalised and when well-intentioned dream-makers are in charge.”

The Vice President did not celebrate UBA without acknowledging the leadership ability of the bank’s Chairman, Mr Tony Elumelu, whom he described as one of the finest sons of the African continent, just as he observed that no institution writes its history without the signature of those who believe in it.

According to him, Elumelu has “become a bridge between the old and the new, between the outdated and the emerging,” adding that he “has won the trust of even the Gen Zs, or whatever this brilliant, digital generation calls itself.”

The Gen Zs, VP Shettima noted, have absolute trust in Elumelu “not because of the era he was born in, but because of the attention he pays to theirs,” observing further that he is being heard across generations because he listens across generations.

He continued: “Tony Elumelu is not a dreamer. Dreamers are those who are stuck in the bubble. Mr Elumelu is a dream-maker. He has made true the imagination of those who wish for an empire from the comfort of their homes. He has taught us that it is possible to build without breaking, to lead without losing touch, and to dream without borders.

“One thing that has amused me about Mr Elumelu over the years is that he has cracked a code many still struggle to decipher—the delicate art of balancing the boardroom with the living room, of being a captain of industry and still a commander at home.

“Not many men have managed a balance between building empires and building families, between saving the world and being present at Christmas in their village. But this man, this maverick, this dream-maker, has shown us that you can help move the continent forward without losing touch with home and family.”

The VP also lauded Elumelu’s wife, Dr Awele Elumelu, saying she is not just a spouse, “but an Amazon—a matriarch who gathers the kith and kin under her warm canopy,” as well as the quiet strength behind the force that is her husband.

Earlier, Group Chairman of UBA, Tony Elumelu expressed profound gratitude to the Vice President while acknowledging the bank’s foundational history.

“This is a night of celebration, gratitude to God and to customers and shareholders who have made it possible,” Elumelu stated.

The Chairman emphasised the importance of honouring those who established UBA’s foundation, saying, “We all today are under the shields because someone planted the tree. The foundation of UBA was laid by people before us, we are only taking it further.”

Looking toward the future, Elumelu expressed confidence in the bank’s continued success, tying it directly to Nigeria’s economic environment.

“On the vision of the next 75 years, just keep transforming our domestic economy as President Bola Ahmed Tinubu is doing, and UBA will keep roaring,” he affirmed.

In his welcome address, UBA’s Group Managing Director, Dr. Oliver Alawuba, expressed gratitude to attendees while highlighting the bank’s remarkable journey since its inception.

“75 years ago, UBA commenced operations at Kakawa Street in Lagos as British & French Bank (BFB),” he said.

The GMD emphasised UBA’s impressive expansion over the decades, noting the bank now operates in 24 countries with 1,000 business offices, over 25,000 staff members, and a customer base exceeding 45 million people.

Dr. Alawuba shared financial metrics demonstrating the bank’s robust performance, including a profit after tax of N766.6 billion and total assets reaching N30.4 trillion.

He said shareholders have been rewarded with a dividend of ₦5 per share, representing a dividend yield of 14.5% – the highest among industry peers.

He also pointed out that the group’s shareholders’ funds rose significantly to N3.419 trillion in 2024 from N2.030 trillion in December 2023.

“The 2024 financial performance demonstrated the bank’s continued focus on driving earnings growth, preserving asset quality, expanding business operations and deepening market share,” Alawuba said.

Looking to the future, the GMD outlined an ambitious vision for UBA to establish a presence in every African country and expand to over 100 countries worldwide within the next 75 years.

VP Shettima Extols UBA’s Dedication To Innovation, Emerging Markets At 75

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

National News

At UN Food Summit, Nigeria Maps 10-year Youth-led Agricultural Renewal Plan

Published

on

At UN Food Summit, Nigeria Maps 10-year Youth-led Agricultural Renewal Plan

** We’ve doled out $538m for SAPZs, created 785,000 jobs, says VP Shettima

By: Michael Mike

The Nigerian government has unveiled a 10-year Strategic Action Plan (2026–2035) to transform its agricultural sector, with Vice President Kashim Shettima declaring that the youth-led innovation will be central to the country’s food systems transition.

The plan is part of Nigeria’s national strategy to implement the Comprehensive Africa Agricultural Development Programme (CAADP) Kampala Declaration (2026–2036), adopted by African Heads of State to strengthen food and nutrition security across the continent.

Speaking on Tuesday at a high-level dialogue between African youth agri-food entrepreneurs and African leaders during the United Nations Food Systems Summit Stocktake (UNFSS+4) in Addis Ababa, Ethiopia, Vice President Shettima emphasised the importance of investing in young people to drive innovation and resilience across food systems.

“A nation that is prepared for the future is not known by the promises it makes but by the place it gives to its youth in shaping those promises. To see African youths leading the charge in this essential sector speaks more eloquently than any speech,” VP Shettima stated.

He explained that Nigeria has already inaugurated an Agricultural Sector Working Group and a Technical Committee to coordinate national implementation of the Kampala Declaration and develop the 10-Year Strategic Action Plan.

According to him, the plan will align national and subnational priorities, promote public-private partnerships, and embed strong youth engagement at every level.

The Vice President also noted that the Federal Government has recapitalised the Bank of Agriculture with ₦1.5 trillion ($1 billion) to support the Youth Agricultural Revolution in Nigeria, providing loans of up to ₦1 million to young farmers and agri-groups across the country.

“This is not charity. It is strategic inclusion. It is resilience engineered into policy,” VP Shettima said.

The Vice President listed several ongoing initiatives, including Nigeria’s collaboration with the Netherlands, CGIAR, and IITA under the Youth in Agribusiness Initiative, which is targeting 10,000 youth, with 40–50% of them women, across innovative hubs in horticulture, poultry, aquaculture, and cassava processing.

He also cited investments in mechanisation, greenhouse expansion, and irrigation systems, along with the $1.1 billion Green Imperative Project with Brazil, which is enhancing year-round agricultural productivity and value chain efficiency.

“We launched the first 2,000 tractors in a 70-million-dollar investment, targeting over 550,000 hectares of land and reaching more than 550,000 farming households. In partnership with John Deere, we are deploying 10,000 tractors over five years,” he said.

Shettima reaffirmed Nigeria’s call for increased investment in value addition and agro-processing to end the export of raw commodities and build more resilient local economies.

The forthcoming 10-Year Action Plan, he added, will prioritise training and mentorship in agro-technology and agribusiness, with a strong monitoring and evaluation framework.

“This is not a sprint. It is a generational relay that requires collective action, strategic partnerships, and an unwavering commitment to shared responsibility,” he said.

Meanwhile, Vice President Shettima also addressed the Plenary Session on Transforming Food Systems in Complex Settings, where he disclosed that Nigeria has already committed $538.05 million to the first phase of the Special Agro-Industrial Processing Zones (SAPZ) programme, a flagship initiative aimed at boosting agricultural productivity, improving rural livelihoods, and accelerating agro-industrialisation.

“The SAPZ programme in Nigeria is being implemented in partnership with the African Development Bank (AfDB), the International Fund for Agricultural Development (IFAD), the Islamic Development Bank (IsDB), and other key development partners. The initiative is projected to attract $1 billion in total investments by 2027, reduce post-harvest losses by 80%, and has already generated over 785,000 jobs across targeted regions,” he noted.

VP Shettima added that African youths hold the key to the continent’s agri-food future and thus, no stone should be left unturned in mobilising this greatest asset.

He reiterated the Federal Government’s commitment to tackling food insecurity, noting that the administration of President Bola Ahmed Tinubu has declared a State of Emergency on Food Security, reactivated over 500,000 hectares of arable land, deployed strategic food reserves, and expanded access to seeds and extension services.

VP Shettima also emphasised the importance of security sector reforms to ensure farmers can access their lands safely and continue food production in rural communities.

In addition, he called for international collaboration to recharge the Lake Chad Basin, expand sustainable irrigation systems, and establish a national farm database.

He also advocated for anticipatory action to climate shocks, emergency school feeding programmes in conflict-affected areas, and resilience-building initiatives to secure long-term stability.

“Food security is the trust anchor of peace,” the Vice President stated.

Also speaking, United Nations Deputy Secretary-General, Amina Mohammed, decried worsening global food insecurity, noting that “over 37 million children under five who faced acute malnutrition this year are almost the entire population of Canada.”

“Short-term interventions disconnected from long-term development planning are not the solutions we are seeking. We must choose transformation over dependency,” she said.

She commended leaders, including President Tinubu, who are embedding resilience in national strategies, combining global, digital and traditional knowledge to create inclusive and sustainable food systems.

“We need coordination as a people and not just bureaucracies. Bureaucracies are important; we need strong public institutions, but our efforts must translate into impact in people’s lives,” Mohammed added.

Other speakers at the summit included World Food Programme Executive Director, Cindy McCain; Deputy Prime Minister of Somalia, Salah Jama, and Moubarack Roubo from the Ministry of Agricultural Production and Industrialisation, Chad, among others.

At UN Food Summit, Nigeria Maps 10-year Youth-led Agricultural Renewal Plan

Continue Reading

National News

One killed, another injured as gunmen invade Gari Village in Niger State

Published

on

One killed, another injured as gunmen invade Gari Village in Niger State

By: Zagazola Makama

Armed men have attacked Gari Village in Masamagu area of Niger State, killing one person and abducting another in a violent incident that occurred on Wednesday night.

Zagazola Makama gathered that the attack happened at about 9:30 p.m. on July 24, when six unidentified gunmen stormed the community and macheted a 55-year-old man, Umaru Zakiru, to death.

They also abducted one Hussaini Muhammed to an unknown destination, but the victim later escaped from captivity with a gunshot wound.

A tram of security forces responded promptly and evacuated both the deceased and the injured to the General Hospital in Kontagora for autopsy and medical treatment.

A manhunt has been launched to track down the assailants and bring them to justice.

One killed, another injured as gunmen invade Gari Village in Niger State

Continue Reading

National News

Tinubu Assures Nigerians in Diaspora of Favourable Policies Towards Them

Published

on

Tinubu Assures Nigerians in Diaspora of Favourable Policies Towards Them

By: Michael Mike

President Bola Tinubu on Friday assured Nigerians in Diaspora of his administration’s determination to continue to provide the enabling environment and policies that will boost their active participation in the country’s governance.

Tinubu gave the assurance at the opening of the National Diaspora Day celebrations 2025 at the Banquet Hall, Presidential Villa, Abuja.

This year’s celebration is themed: “Optimizing formidable Diaspora Potentials for National Development and growth”.

The President, who was represented by the Secretary to the Government of the Federation, Senator George Akume, said: “We will continue to provide an enabling platform for effective policies for the Diaspora with the view to galvanizing your support for this administration and concretizing our democracy, optimizing your potentials and setting a good example for other African countries to emulate.

“Let me also state that we will look into the Challenges NiDCOM has enumerated with a view to ameliorating same so that we can harvest maximally the benefits of migration through the engagements with our Diaspora for national development and growth.”

He added that: “It is a great delight to address our over 20 million Nigerians in the diaspora on this auspicious occasion of the celebration of our National Diaspora Day 2025.”

“Only Nigerians both at home and abroad can develop Nigeria,” Tinubu stated.

The President highlighted the contributions of the diaspora, which include increasing remittances, pointing out that in 2024 alone, “Nigerians abroad sent home $20.9 billion through official channels—more than four times the value of the country’s foreign direct investment.

He said: “The Nigerians in the diaspora are also actively investing in our health care, agriculture, education, information, communication technology, housing and real estate, sports, transportation, oil and gas, and other sectors.

“This, I must say, is commendable and in our enlightened self-interest.”

The President stressed how highly the government rates the Nigerians in diaspora, saying “Our renewed hope for foreign policy recognises the diaspora as the fourth pillar for the agenda—namely democracy, demography, development, and diaspora.

In his goodwill message, the minister of Interior, Dr. Olubunmi Tunji-Ojo said:
“When you go to any part of the world, maybe in Asia, Africa, South America, you will see Nigerians excelling. Nigerians breaking barriers. Nigerians breaking ceilings. And Nigerians using ceilings as springboards to greatness.”

The Minister highlighted the economic potential of diaspora remittances—comparing Nigeria’s $21bn in 2024 remittances to $32.91bn in oil earnings and India’s $135.46bn diaspora inflows.

He said: “What does that tell you? It tells you that the power of economic emancipation, a lot of this resides within you, beyond your own imagination,” he said.

The minister also explained that the administration is laying the foundation for long-term national prosperity—even if short-term sacrifices are required.

“You cannot cure a tumor by virtue of a paracetamol. It is important that the Renewed Hope agenda of Mr. President came into being. And today, we can see the results. We can see the economic stability of this country,” he said.

Tunji-Ojo also spoke on the reforms in his ministry which include immigration and the protection of critical national infrastructure.

He therefore called on the diaspora community to trust in the country’s direction under President Tinubu’s leadership.

“Nigeria has never been ready for investment more than now. We are ready for investment.

“I assure you, under the leadership of this President, you will never regret your investment. Nigeria loves you. Nigeria cares about you. And this particular administration cares about you,” he said.

Earlier, in her remark, Chairman of the Nigerians in Diaspora Commission, Dr. Abike Dabiri-Erewa, said “The theme is apt to appreciate the efforts of both the government and the diaspora community in nation building and also to discuss how to make diaspora engagements better for national development.”

She emphasised the role of Nigerians in diaspora in the country’s development.

Dabiri-Erewa announced a proposed Diaspora Presidential Fellowship Programme. The initiative would allow professionals in the diaspora to take part in six-month sabbaticals in Nigeria, aimed at promoting knowledge transfer and innovation across sectors.

“It will strengthen their role in nation-building and serve as a knowledge-driven giveback to the fatherland,” she added.

Highlights of the event was the unveiling of a new Diaspora Home and Abroad Housing Platform, aimed at providing secure housing opportunities for diaspora Nigerians seeking to invest back home.

Tinubu Assures Nigerians in Diaspora of Favourable Policies Towards Them

Continue Reading

Trending

Verified by MonsterInsights