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sageglobalresponse · 1 year

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Quiet sides of wealthy Nigerians

Mike Adenuga

According to the Forbes list of African billionaires for 2020, Mike Adenuga, the founder of Globacom and the Chairman of Conoil Producing, is the third richest person in Africa. The astute businessman built his fortune in telecommunications and oil exploration.Adenuga’s name not only resonates among his peers but is also mentioned by musicians who can’t seem to get enough of using him as a reference when praying for financial breakthrough. However, with all the buzz around him, the 67-year-old not only lives a quiet life, he is not also seen in social circles. Some years ago, when one of his children got married, it was reported that the oil major instructed guests not to take any photos at the classy but private wedding. Adenuga guards his privacy so jealously that according to reports, only select members of his staff have access to him.

Fola Adeola

Guaranty Trust Bank Plc is arguably one of the most popular new generation banks in Nigeria. Its tentacles are also spread outside the ‘giant of Africa’ as it has branches in 10 other African countries.However, not much is known about one of the brains behind the financial institution― Fola Adeola. Apart from the fact that the serial entrepreneur is scarcely seen at society parties, his wife, Hajara, and their six children also live very low-key lifestyles. His wife’s modest is further proof that the couple does not want to live in the full glare of the public.Adeola was 34 when she and the co-founder of the bank, the late Tayo Aderinokun, applied for a banking licence in 1988, and the rest, as they say, is history.

Adedeji Adeleke

A lot of people only got to hear about the reserved businessman, Adedeji Adeleke, through his superstar son, David, popularly known as Davido.Born on March 6, 1957, the senior Adeleke is the founder and president of Adeleke University. He is also the Chief Executive Officer of Pacific Holdings Limited. Although two of Adedeji’s brothers have held top political positions in the past, he has still managed to keep a low profile.His son’s popularity has undoubtedly put the spotlight on him over the years as Davido regularly sings and talks about his father’s wealth. Unlike others of his ilk, Adeleke is one billionaire who is not often seen amidst the crème de la crème but Davido, the self-proclaimed ‘omo baba olowo (child of a rich man)’, is certainly doing that for him.

Leo ‘Stan’ Ekeh

Leonard Ekeh can be described as one of the most successful technopreneurs to have come out of Africa. He has carved a niche for himself in the information technology sector and is still working hard to make more impact. Many years ago, the smart entrepreneur rightly predicted that ICT would occupy an important position in the world’s economy and he decided to toe that path. It won’t be out of place to say that Ekeh’s foresight has helped him to quickly adapt to changes in the world market and conveniently utilise new technologies to his advantage.He founded Zinox Technologies Limited in 2001 and the company.

Pascal Dozie

Even as an octogenarian, business magnate, Pascal Dozie, is numbered among the richest men in Imo State and Nigeria as a whole. With a net worth estimated by Forbes to be at $1bn, there is no gainsaying the fact that he has had a successful career.Dozie began his career as an economist at the National Economic Development Office in the United Kingdom. He was also a part-time lecturer at the North Western Polytechnic, London. Between 1970 and 1971, he served as a consulting economist at the African States Consulting Organisation in Uganda. In 1971, after quitting his job in Uganda, he relocated to Nigeria at the request of his mother. Armed with his experience in econometrics and industrial engineering, the enterprising businessman launched his first company, African Development Consulting Group, which later gave birth to Diamond Bank.Dozie was the Chairman of MTN Nigeria for 18 years before he, alongside five other non-Executive Directors, left their positions in 2019. The savvy entrepreneur has five sons and he is gradually handing over the reins of the business he painstakingly built to his eldest son, Uzoma, who was the Group Managing Director and Chief Executive Officer of Diamond Bank before the financial institution’s merger with Access Bank.The wealthy entrepreneur keeps a low-key profile and seemingly shies away from anything that is not about business.

Ibukun Awosika

She is the Chairman of First Bank of Nigeria; founder of the Chair Centre Group; and co-founder and past chairperson of the Women in Business, Management and Public Service. With that, it is evident that Awosika is not a small fry by any standards. The brilliant businesswoman also chairs a number of corporate and not-for-profit boards including Gems Africa, House of Tara International, Cadbury Nigeria Plc, Digital Jewel Limited, Convention on Business Integrity and the Afterschool Graduate Development Centre― a facility she promoted to help address youth employability and enterprise issues in Nigeria. She used to be the Chairman of FBN Life Assurance Limited, FBN Capital Limited and Kakawa Discount House Limited. She also served on the board of the Nigerian Sovereign Investment Authority.

Abdulsamad Rabiu

Kano-born business tycoon, Abdulsamad Rabiu, made his fortune as the owner of BUA Cement Plc and that has earned him an enviable spot on the list of billionaires in Africa. He is also the chairman of the Bank of Industry. On July 7, 2020, Forbes estimated Rabiu’s wealth to be $3.2bn, placing him at the 716th position in the global billionaire’s club.

Jim Ovia

Jim Ovia can be described as a very private person, though he is the founder of a public limited company, Zenith Bank Plc, which happens to be one of the most profitable financial institutions in the country.A 58-year-old native of Agbor in Delta State, Ovia keeps his family off the social media radar and shields his private life jealously. He started his banking career in 1973 as a clerk at Union Bank. He worked for three years as a bank clerk before moving to the United States of America, where he obtained his Bachelor and Master degrees. Called ‘The godfather of Nigerian banking’ in banking circles, Ovia transformed Zenith from a small commercial bank into a formidable financial conglomerate, that boasts of over 500 branches and business offices in all states of Nigeria, as well as subsidiaries in the United Kingdom, United Arab Emirates, Ghana, Sierra Leone, The Gambia and China.

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lastbaff · 6 years

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Current Price of Bag of Salt in Nigeria 2019

Salt is a major constituent of cooked food and is often used as a preservative. The Price of salt in Nigeria varies according to the manufacturers/producers. Of around 181.5 million tons of global salt production, around 5 million tons are produced in Africa. Techniques used in salt production in sub-Saharan Africa where Nigeria is located are conventional and, in some cases, primitive. There is almost no trace of salt production in the entire central and west African region except for Ghana and Senegal. This is to say both Ghana and Senegal are the major exporters of salt to other central African countries. Nigeria imports table salt to ensure its availability in the country. This doesn't pose any health threat since there are strict laws to make sure all salt produced in every part of the world be iodized. Types of Salt Generally, salt is considered to be the most common mineral resources in the world. Be it refined or unrefined, it is rich in minerals that are very beneficial to health. The most common type of salt is table salt, which is also known as common salt. It is readily available in Nigeria. Other kinds are as follows: Himalayan pink salt Smoked salt Persian salt Black salt Grey salt Red salt Sea salt Salt in Nigeria is mainly found in the south-east and south-south states with Ebonyi taking the top spot of the largest deposits. Other states on this list include Anambra, Abia, Akwa Ibom, Cross River, Sokoto, Katsina, and Benue states. Although Nigeria may be rich in brine resources like other African nations, the country cannot boast of a single processing industry or plant just like the case of refining crude oil abroad. The country imports most of the processed salt before converting to finished products. Prices of Salt in Nigeria In Nigeria, the major salt sold in markets are mostly branded salt. The prices are, therefore, fairly fixed. Producers have been developing ways to reach consumers through segmentation of the products into sachets and friendly packaging materials to prevent moisture penetration to retain freshness at the point of retail sales. These new development has increased competition among brands. The popular brands in the markets are Mr chef, Annapurna, Dangote, Dicon, and Royal. By placing these brands of salt in terms of market share, Mr Chef comes first, followed by Annapurna and Dangote. Himalayan Salt 900g: N7850 Mr Chef Salt 250g: N50 - N70 Mr Chef Salt 500g; N80 - N100 Dangote Salt 250g: N50 Dangote Salt 500g: N100 - N120 Annapurna Salt 250g: N50 - N80 Annapurna Salt 500g: N100 Sellers claim that many consumers prefer the Mr Chef salt followed by Annapurna. Most use both interchangeably but if they are unavailable, then Dangote salt will be taken. How Much is a Bag of Salt in Nigeria? The prices listed here are average prices on e-commerce stores in Nigeria. They are mostly cheaper in offline stores. Dangote Salt Bag of 1kg (20 pieces): N4,000 - N5,000 Dangote Salt Bag of 1kg (5 pieces): N2,500 - N3,000 Mr Chef Salt Bag of 1kg (20 pieces): N4,000 - N5,000 Mr Chef Salt Bag of 1kg (4 pieces): N2,000 - N2,500 Mr Chef Salt Bag of 500g (4 pieces): N500 - N600 Mr Chef Salt Bag of 500g (10 pieces): N1,000 - N1,500 These are the popular refined salt brands that can be gotten in the Nigerian market. Unrefined ones are also available in large scale. There are over 80 minerals available in the unrefined salts while the refined table salt has only 2, which are Sodium and chlorine. Research shows that unrefined salt also has health benefits. Prices of Unrefined salt in Nigeria: A big pack of unrefined salt: N3,500 - N5,000 A small pack of unrefined salt: N2,000 - N2,500 Related Foodstuff Prices in Nigeria Today (Complete List) Current Price of Bag of Rice in Nigeria Basmati Rice Price in Nigeria 2019 Current Price of Palm Oil in Nigeria Today Current Price of Bag of Beans in Nigeria Current Prices of Coconut Oil in Nigeria Economic and Health Benefits of Salt Salt enhances healthy weight and fast metabolism when consumed adequately Helps in balancing blood sugar levels Regulates heartbeats Helps in moderating the functions of the muscles Salt also controls the body's fluid balance Economically, salt generates huge revenue for the country Industries that are involved in salt production help the economy via employment Benefits of Sea Salt It can be used for teeth whitening Used for dandruff treatment Has anti-aging properties Reduces acne and many more Record has it that aside from the rich benefits of common salt, other salts such as Celtic sea salt and Himalayan salt have greater benefits. Uses of Salt Cooking is one of the most popular uses of salt across the world Another very thoughtful aspect is the use of salt for preservation Surprisingly salt is used for household cleaning Salt has also been popularly known to be used in making bleaches, soaps and detergents, and dyes Most industrial companies in Nigeria and across the world use salt in making plastic, paper, glass, polyester, fertilizer, and rubber All these are some uses of salt. In addition to the list above, some health and beauty products have salt as part of their ingredients. Salt Companies in Nigeria Here's a list of some salt companies in Nigeria. Covenant Salt Company Limited Covenant Salt Company Limited is a big manufacturing company in Nigeria that specializes in the production of high-quality iodized salt. The company is located in the industrial estate in Agbara, Ogun state. Dangote Salt Plc Owned by Nigeria's and Africa's richest man, Aliko Dangote. Dangote salt is well known for its processing and refining services. The headquarters of this company is located at Falomo, Ikoyi. Bayswater Industries The popular Mr. Chef salt is produced by Bayswater Industries Limited and the company is located in Sango Otta, Ogun State, Nigeria. Columbia International Limited This particular company offers salt processing services for enough availability of consumable salt in the country. Some other salt-related companies in Nigeria are National Salt Company Nigeria Limited, Royal Salt Limited, and Union Dicon Sat limited. In conclusion, salt is a great part of human existence. It is advised to take salt in moderation. Excess of it is bad. Compare Foodstuff Prices Foodstuff Prices in Nigeria Today (Complete List) Current Price of Bag of Rice in Nigeria Basmati Rice Price in Nigeria 2019 Current Price of Palm Oil in Nigeria Today Current Price of Bag of Beans in Nigeria Current Prices of Coconut Oil in Nigeria Price of Bag of Maize in Nigeria Cost of Bag of Flour in Nigeria Price of Agricultural Commodities in Nigeria Current Prices of Commodities in Nigeria Current Price of Soybeans Per Ton in Nigeria Price of Cow in Nigeria Read the full article

#bagofsaltpriceinnigeria #howmuchisabagofsaltinnigeria #priceofabagofsaltinnigeria #wherecanIgetsaltinnigeria

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ibilenews · 4 years

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10 fantastic things Aliko Dangote has done in the last 10 years

The name Aliko Dangote needs no introduction across the length and breadth of Nigeria. While some believe it is a household name, others believe the bearer has a stake across all the sectors of the economy.

That Aliko Dangote has been able to hold on to the position of the richest man in Africa for 10 years is a pointer to the fact that he has achieved several enviable feats.

How is it that one man has been able to hold the position consistently for the last 10 years?

Not a few people have the above questions in their minds, and indeed it is one that is worth asking. Alhaji Aliko Dangote has managed to pull this feat by the sheer effort of personal, business decisions and actions he has taken over the years.

So, what exactly are those things he has done over the last decade? We certainly cannot consider all, but let us start by x-raying 10 fantastic things this billionaire has done in the last ten years, as he celebrates his 63rd birthday.

In 2011, Dangote invested a massive $400 million in the construction of a cement plant, and also invested R779 million to increase the Dangote Industries Limited stakes in Sephaku Cement (Pty) Limited, based in South Africa, from 19.76% to 64%.

His investment into the South Africa-based cement company was described as the largest foreign direct investment (FDI) ever by an African company in South Africa at the time.

If the Dangote Industries was not already present in 14 African countries at the time, one would have thought the man was in a heated race for the gold.

Keep in mind that the Dangote Group had already been listed among the top 40 African Challengers by the Boston Consulting Group (BCG), a United States-based rating agency; the agency had already seen the potential in the Dangote Group to rival Fortune 500 Companies.

Now isn’t this fantastic?

Back home in Nigeria in 2012, Dangote Cement moved to erect the biggest cement plant in Africa in Southwest Nigeria.

The most amazing thing is the fact that this rich billionaire spent $1 billion on what the Guardian referred to as “a century-old wasteland of limestone and red dirt in south-west Nigeria”.

Some must have turned their noses up at this move, possibly thinking of him as one of those “money miss road”, but 9 years after, the Dangote Cement plant, Ibese in Ogun state accounts for over 6 million metric tonnes of cement, which translates to more money for the billionaire over the years.

With this in place and the creating of new lines at Dangote Cement Plant, Obajana, he ended the era of cement import and launched Nigeria into cement export.

He was already richest black man in the world at the time and ranked 76 in the world by Forbes magazine.

Dangote moved to assert his place in sugar production when in February 2013, the Dangote Sugar Refinery announced plans to acquire 95% equity stake in Savannah Sugar Company limited, SSC.

The deal was executed through a Share Sale and Purchase Agreement, SSPA, and Dangote Industries Limited (DIL) acquired 95% of the issued share capital of Savanna Sugar, amounting to 2.14 billion ordinary shares of N1.00 each.

This was about the same time the Nigerian government designed the backward integration goal, the National Sugar Master Plan to attract over $1 billion annually in local and foreign direct investments and create jobs.

Also, recall that April 2013 was the first time the mogul announced his intention to build a private refinery in Nigeria, to reduce Nigeria’s dependence on importation of petroleum products.

Such big dreams!!!

Aliko Dangote in 2015 signed a mammoth deal with Chinese state-owned engineering company, SINOMA, to build factories for Dangote Cement Plc.

The deal was worth $4.3 billion (£2.8 billion), and seven plants to be built across the continent and one in Nepal. It was not just another avenue to spend money, as the billionaire had done the calculation and expected the new plants to increase the company’s production capacity by as much as 25 million metric tonnes.

Great plans for his home country, no doubt!

As a result of the sizeable investments made over the years, Dangote Cement ended 2014 with new lines in Nigeria, factories becoming operational in Senegal and South Africa, and other plants in Cameroon and Zambia. This increased production capacity from just under 21 million tonnes in January to more than 34 million tonnes at the end of the year.

This was an unprecedented rate of expansion and the company went ahead to open new factories in Ethiopia and Tanzania in the following year.

The Dangote Foundation remains one of the most heart-touching innovations of Aliko Dangote. It is the largest foundation in Africa and has an annual endowment of $1.25 billion. The foundation is described as “locally focused, but globally-minded” and has contributed millions to improve nutrition, health, education and economic empowerment in Nigeria.

The foundation is a lead contributor to the ‘Saving One Million Lives’ every year in Nigeria and was at the forefront of efforts to contain the spread of Ebola in Nigeria and other parts of Africa. The foundation was the biggest private contributor to the African Union Ebola Trust Fund with a donation of $3 million.

The foundation also partnered Bill and Melinda Gates Foundation to eradicate polio in Nigeria by strenghtening primary health care and making provisions for routine immunization across Northern Nigeria. The initial project commenced in Kano and Bauchi states. In January 2016, Sokoto, Yobe, Kaduna and Borno States were added to the partnership, with over $10 Million spent.

The Aliko Dangote Foundation Micro-grant programme is a N10 Billion programme designed to provide a N10,000 one-off grant to at least 1,000 vulnerable women, and in some cases, youths, in each of the 774 LGAs across Nigeria. it is national programme launched in Kano in 2011 and is being systemically rolled out across the country. The programme is being implemented in partnership with states government to complement their respective poverty alleviation drive across the country.

So far, the sum of N3.345 Billion has been disbursed to women across Kano, Jigawa, Kogi, Adamawa, Borno, Yobe, Lagos, Niger and Nasarawa States.

Also, in continuation of its efforts to rehabilitate and resettle the Internally Displaced People in the Northeast, Nigeria, the Aliko Dangote Foundation commissioned 200 Housing Units of the Dangote Village Housing Estate for the Internally Displaced Persons in Maiduguri, Borno State, with Award Letters issued to the chosen beneficiaries – mostly widows with dependents.

In support of this laudable action by the Foundation, the State Government made provision for each family to be given economic empowerment tools to sustain their livelihood adding a fully functional school and a clinic to cater for the residents of the estate.

The impact of this foundation over the years can hardly be wrapped into a few paragraphs, but it has been a major contributor to alleviating poverty, just as the philanthropist billionaire intended.

The year 2018 was a significant one for the Dangote Group. Aliko Dangote did the ground-breaking ceremony for the construction of a rice processing plant in Jigawa – the culmination of a series of events that started a couple of years earlier.

He had signed a $1 billion agreement with the Federal Government for the integrated rice production in Kebbi, Sokoto, Zamfara, Kano, Niger and Jigawa.

The multi-billion processing mill had the capacity, upon completion, to process 16 tonnes of paddy rice per hour, totalling to about 14-billion-naira worth of rice per year.

It was a much-celebrated event for the year, as the rice mill was expected to improve the lives of the residents since the raw products would be bought from local farmers in Jigawa. The end aim is to make Nigeria self-sufficient in rice production.

We can expect more from this billionaire in this regard, as he has announced in recent times, his intention to do more in agriculture.

Dangote Cement Nigeria increased the group’s revenue in 2018 by over 10%, simply by creating favourable fuel mix at the cement plants at Obajana and Ibese. With these unprecedented innovations, the group cut out reliance on imported coal for both plans and started using coals from mines operated by the Dangote Industries Limited.

The impact of this was seen largely on foreign currency demands, thus pushing the company’s revenues. Subsequently, all eight kilns in Obajana and Ibese have been running on coal, gas or LPFO or a mixture of the three. I’m sure you didn’t know that.

And lets no forget that stunt he pulled when he bought back Dangote flour mills, the loss-making business he sold for $200 million to Tiger Brands, only to resell it to Olams years later for $362 million

2019 was the year of consolidating on the refinery plans which had long commenced. The peak of it all was the arrival of the specially configured facility which Dangote had since requested to be made.

The facility, which was built by Sinopec, China’s leading energy and chemical company, has been described as the largest in the world and has since been installed at the Dangote refinery.

The Atmospheric tower is expected to separate crude oil into its components (or distillation cuts, distillation fractions) for further processing by other processing units when the refinery starts full operations later this year.

According to the mogul, the refinery will within 18 months of operation, be able to meet Nigeria’s demand for petroleum products, and soon after become the largest exporter of petroleum products in Africa.

Experts support this prediction, adding that Nigeria could become Africa’s biggest producer and exporter of refined petroleum and gas products, including plastics, fertilizer, jet fuel, diesel and gasoline. This is expected to lift the economy of the entire continent. Amazing, right?

Very fresh on our minds is the donation of N2 billion naira and other materials to the Private Sector Coalition against COVID-19, just some weeks ago. It signified the tycoon’s willingness to partner with the Central Bank of Nigeria, and private sector participants, to alleviate some of the hardships which the pandemic is sure to inflict on Nigeria.

Just weeks before this, he had donated N100 million worth of materials after the Abule-ado explosion to help in rebuilding the destroyed buildings.

You may feel like we have said much here, but we have not even made mention of the infrastructural facilities he built across tertiary institutions in the country – the construction of a N1.2 Billion Dangote Business School, Bayero University Kano, or the construction of hostels or provisions of power supply at Ahmadu Bello University, Zaria, Kaduna state and Kano University of Science and Technology, Wudil, Kano State.

So much has not been said.

The year is still very young with only 101 days gone, there’s still a lot more fantastic things that could happen this year. Keep in mind that the billionaire also has plans to buy Arsenal FC, and take the Nigerian flag all over the world.

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naijaindex · 4 years

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Success stories: 2020 Top 10 Richest Nigerian Musicians; Net worth and background.

Are you interested in the Nigerian music industry and the top musicians on the list? This article is for you. Music has become one of the best ways of making a huge income. You may like to take a look at the top Nigeria musicians who have made millions in the music industry with their talent. Just keep reading!

Who is on the list of the Top Nigerian Musicians?

Really, all of them in the music industry are talented with their outstanding styles and performance. Those who made it to this list are actually considered to be the top and wealthiest in the industry.

Also, we made it easier by putting their net worth into consideration as well as their background, age, and career. Enjoy!

Here is the list of the Top 10 richest Nigerian musicians.

10. Flavour — Estimated Net Worth is $9.5mmillion

Background

Chinedu Izuchuwu Okoli with stage the name flavour is an award-winning Nigerian musician, songwriter, and dancer. The popular igbo highlife singer was born in Enugu State, Nigeria. His family originally hails from Umunze in Orumba South LGA, Anambra State. Flavour has been active since 2005 with his record label “2Nite Music Group"

Age

Flavour popularly known as flavour Na'abania was born on 23 November 1983 somewhere in Enugu State. He is currently one of the eldest on the list.

Music career

Flavour began his music career at the age of 13. He was initially playing drums for his church choir in Enugu State. In 1996, Flavour was invited to Soundcity communication on a scholarship to study Music.

By the age of 19, he emerged into the Nigerian entertainment industry as a drummer and pianist and was invited to perform at the city center, Enugu. The performance, however, made him more popular. He released his self-titled debut album Na'abania in 2005 and had been very active in the industry since then.

Net worth

Currently, Flavour made it to the Top 10 richest Nigerian musicians with an estimated net worth of $9.5 million.

9. Peter Okoye and Paul Okoye — $10 million.

Background

Peter Okoye and Paul Okoye, formerly known as Psquare were Nigerian music duo. Peter Okoye and Paul Okoye hail from Ifite, Dunu Anambra State. Psquare were heavyweight Music duo of identical twins, Peter and Paul. The duo has gone solo and disbanded with Paul performing as King rudy or Rudeboy while Peter performs as Mr. P.

Age

Psquare was born an 18 November 1981 (age 38). Psquare has the same birth month with Flavour though 2 years older that flavor.

Music career.

Psquare started their music career in secondary school at St. Murumba Secondary School, a Catholic school in Jos. With their inspiration drawn from Michael Jackson music, Psquare began singing and break dancing. They later formed a music group, “MMMPP" ( M clef, Micheal, Melvin, Peter, and Paul). Later, they began their own record label "Square Records"

PSquare won the 'Gab Day Mic' competition in 2001 and was sponsored by Hedges and Benson. The Music Dou had been active together since 2003 till 2017 before they got disbanded.

Net worth

Meanwhile, The MTV Africa Music awardees snapped up the number 9 spot on the list with a net worth of $10 million.

8. Timaya — $10.5 million

Background

The Nigerian music star, Enitimi Alfred Odom popularly known as Timaya was born on 15th August 1977 somewhere in port Harcourt, Rivers State. He starting his singing when he founded the popular 'Dem mama soldiers'

Age

Timaya was born on 15th August 1977( age 42) making him one of the old gurus on the list.

Music career.

Timaya started his music career in 2005 after the release of his hit song "Dem mama" which appeared in his debut album titled True story. In 2008, he released his next album called 'Gift' and 'Grace' and rose to prominence after the release of his studio album called 'De Rebirth'.

Timaya is the founder of DM records limited and has 6 albums in total with so many singles. He's actually the best in dancehall genre and often referred to as the dancehall artist.

Net worth

Timaya has made a lot of money through singing. He made it to the list with an estimated net worth of $10.5 million.

7. Phyno — $11 million

Background

The number 7 in the list is the popular Nigeria Rapper, Phyno meaning phenomenal. His real name is Chibuzor Nelson Azubuike. Phyno was born on 9th October 1986 in Enugu State, Nigeria.

Age

Currently, phyno is 33 years old

Music career

In 2003, He began his music career as a producer and is best known for rapping fluently in Igbo language.

Phyno became even more popular after the release of his debut studio album called 'No Guts No Glory'.

Phyno has acted as a record producer for such popular musicians like flavor, Timaya, Mr. Raw and many others. He is best known in the Igbo rap and hip hop genre.

Net worth

Phyno's estimated net worth is $11 million.

6. Olamide — Estimated net worth is $12 million.

Background

Olamide Adedeji is a well known Nigerian music star with the stage name Olamide. He is popularly known as Olamide baddo, BaddoSneh. Olamide was born on the 15th of March 1989 in Bariga, Lagos State Nigeria. Just like phyno, Olamide is well known for recording predominantly in Yoruba, his native language.

Age

The Lagos State-born hip-hop star is 31 years old.

Music career

Olamide began to pursue a career in music since 2000. However, he became popular and rose to fame in 2010 after the release of 'Eni Duro' produced by Coded Tunes Record. Olamide was previously signed into Cabasa's Coded Tunes Record label before he left in 2012 to start his own record label YBNL Nation.

Still in 2012, November precisely, he released his second studio album YBNL which was produced by Tyrone. Olamide is the first Nigerian celebrity to sign an endorsement deal with Cirok.

He has been active and making his money in the industry since 2011.

Net worth

Olamide has made enough money through singing. He is currently the number 6 on the list with a net worth of $12 million. Convert this to naira! Trust me the cash will 'wow' you.

5. 2Baba — $16 million.

Background

Innocent Ujah idibia with stage name, 2Baba, was born on September 18th, 1975, somewhere in Jos. 2Baba is from the Idoma ethnic group in the southern part of Benue State, Nigeria. Apart from being a singer and songwriter, he is also an entrepreneur, humanitarian, philanthropist, and activist. 2Baba has been active since 1994. He is one of the most influential afro-pop artists in Africa.

Age

The September born Nigerian Superstar is 44. He has been in the entertainment space for about 2 decades now.

Music career

2Baba music career began from zero. He performed in school, college, and university. He later had to quit school and focus more on his music career. He rose to fame in 2004 after the release of his debut album 'face to face' which established his solo career.

He has released six albums since 2004.

2Baba has won several awards including the Headies award, an MTV Europe music award, a BET award and many more.

Net worth

2Baba made it to the list of the wealthiest Nigerian musicians with a net worth of $16 million.

4. Burna Boy — $17 million

Background

Burna Boy is a Nigerian singer and songwriter who was born as Damini Ebunoluwa Ogulu in River State, Nigeria.

His mother works as a translator while his father manages a welding company in River State.

Age

Burna Boy was born on July 2nd, 1991 ( age 28)

Music Career

In 2012, Burna Boy rose to prominence and international recognition after the release of his lead single 'like to party' from his debut studio album called L.I.F.E. Internationally, Burna Boy signed with Warner music group and Atlantic Records in U.S. A (United State of America).

In 2019, Burna released his 4th studio album 'African Giant' which won album of the year at 2019 All African Music Award. The same album was also nominated for the best world music album at the 62nd annual Grammy award.

Net worth

Burna's estimated net worth is $17 million

3. Don Jazzy — Net Worth: $18 million

Background

Don Jazzy is a Nigerian Singer, Songwriter, record producer, and entrepreneur. He was born in Umuahia, Abia State in the Southeastern part of the country. He attended Federal Government College in Lagos and obtained a degree in Business Management from Ambrose Alli University Ekpoma.

Age

Don Jazzy was born on November 26th, 1982 (age 37).

Music career

Don jazzy began playing drums and guitar when he was 4 and 12 years respectively.

In 2004, Don jazzy co-founded the defunct record label Mo'hits Records. Subsequently, he started his own record label 'Mavins Record' after the closure of Mo' hits Record.

As an entrepreneur, Don Jazzy invested in the oil and gas sector. In 2013, he founded the Mavin energy which deals with the supply of petroleum products and services. Don jazzy has endorsed brands like Samsung Electronics, Konga, LOYA Milk, MTN Nigeria and many more.

Net worth

Jazzy's net worth is $18 million making him the 3rd on the list.

2. Davido Net worth: $19 million

The American born Nigerian superstar made it to the second position on the list!

Background

David Adedeji Adeleke, with the stage name, Davido is an American born Nigeria Singer, Songwriter, and producer. He was born in Atlanta, United States of America and raised in Lagos, Nigeria. He is proudly a member of KB International.

Age

The Nigerian Superstar was born on 21st December 1992 (age 27)

Music career

At the age of 16, Davido moved to Alabama in the United States to study Business Administration at Oakwood University. However, he later dropped out of school to focus more on music and record vocal references.

In 2012, Davido rose to prominence and international recognition after the release of 'Demi Duro' which is his second single from his debut studio album titled, OMO Baba Oluwa.

Also, in 2012, he won the Next Rated award at the headies. Davido has collaborated with brands like Guinness Nigeria, Infinix mobile and MTN among several others.

Net worth

The Nigerian celebrity made it to the list with an estimated net worth of $1million.

Who then is the richest Nigerian musician?

1. Wizkid — Starboy

Currently, Wizkid is the Forbes richest Nigerian musician.

Background

Wizkid a.k.a starboy is a Nigerian singer and songwriter. Starboy was born in surulere, Lagos Nigeria. Wizkid attended ijebu Ode primary school in Lagos and Lagos State University for his O'Level and Degree program respectively.

Wizkid's parent shares a different faith. His father is a Muslim while his mother is a Christian, Pentecostal.

Age

Wizkid is 26 years old. He was born on July 16th, 1991.

Music career

Wizi's music career began when he was still small. At the age of 11, He was already recording music.

In 2009, Wizkid signed a record deal with Empire Mates Entertainment (E.M.E). However, he rose to fame in 2011 following the release of 'Holla at your boy' which is the hit single from his debut studio album titled Superstar.

Wizkid has collaborated with brands such as MTN, Pepsi, Glo, and Guinness.

Net worth

Gbagan! Wizikid tops the list with an estimated net worth of 20 million United States dollars ($20 million).

Conclusion

Please do note that this article can be updated anytime if the rating change. Most of your favorite and wealthy Nigerian musicians may not have made it to this list because we were just focusing on the Top 10 on the list.

Looking for celebrity Bios and net worth? I hope this article was helpful!.

Do remember to bookmark and follow us for more articles like this, Thanks!.

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flashacademy · 5 years

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Top 10 Richest States in Nigeria 2019 Latest Version

Nigeria is an independent country with 36 states blessed with numerous natural resources. Even though crude oil has been the main source of the country riches, there are some of these wealthy states that produce them.

In this article, we will expantiate on the top 10 richest states in Nigeria based on IGR(Internally Generated Revenue). Please note that these states can survive on their own…

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newsintodays-blog · 6 years

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These are the prominent Russian businessmen on new U.S. sanctions list

New Post has been published on http://newsintoday.info/2018/04/06/these-are-the-prominent-russian-businessmen-on-new-u-s-sanctions-list/

These are the prominent Russian businessmen on new U.S. sanctions list

MOSCOW (Reuters) – The United States imposed sanctions on Friday against Russian businessmen, companies and government officials.

FILE PHOTO: Red Square, St. Basil’s Cathedral (L) and the Spasskaya Tower of the Kremlin are seen through a gate in central Moscow, September 18, 2014. REUTERS/Maxim Zmeyev/File Photo

Below are the names of the most prominent businessmen targeted along with their main assets/connections and extracts from the U.S. Treasury statement.

DESIGNATED RUSSIAN OLIGARCHS

OLEG DERIPASKA, main owner of En+, co-owner of Rusal and Norilsk Nickel

Oleg Deripaska in the Swiss mountain resort of Davos January 22, 2015. REUTERS/Ruben Sprich

Deripaska is ranked by Forbes magazine as Russia’s 19th richest businessman with a net worth of $6.7 billion. Deripaska holds regular meetings with Putin, invested heavily in Russia’s 2014 Sochi winter Olympics, and has said his own interests are indivisible from the state’s.

En+ has a 48 percent stake in Rusal, one of the world’s largest aluminium producers. Rusal is listed in Hong Kong and counts Glencore among its shareholders.

Rusal has assets in Italy, Ireland, Sweden, as well as Nigeria, Guyana, Guinea, and a stake in Australian QAL, the world’s top alumina refinery. Over 10 percent of Rusal’s total sales go to the United States.

FROM U.S.TREASURY STATEMENT:

“Oleg Deripaska is being designated… for having acted or purported to act for or on behalf of, directly or indirectly, a senior official of the Government of the Russian Federation, as well as… for operating in the energy sector of the Russian Federation economy.”

VIKTOR VEKSELBERG, key owner of Renova holding group

FILE PHOTO: Viktor Vekselberg in Moscow, Russia February 7, 2018. REUTERS/Sergei Karpukhin

Forbes magazine ranks Vekselberg as Russia’s 9th richest businessman with a net worth of $14.4 billion. He is famous for bringing back a collection of Faberge eggs to Russia.

Apart from Russia, Renova has assets in the United States and Europe, of which the most notable are stakes in the Swiss companies Sulzer, Schmolz+Bickenbach and Oerlikon. They are not under sanctions.

Vekselberg and his partners also have a stake in Rusal, which supplies aluminium to the United States and other countries.

FROM U.S. TREASURY STATEMENT:

“Viktor Vekselberg is being designated for operating in the energy sector of the Russian Federation economy. Vekselberg is the founder and Chairman of the Board of Directors of the Renova Group.”

KIRILL SHAMALOV, minority shareholder with petrochemical company Sibur

File Photo: Kirill Shamalov in Moscow, Russia, April 20, 2016. REUTERS/Sergei Karpukhin

Shamalov married Putin’s youngest daughter Katerina in February 2013, multiple sources who were at the wedding told Reuters. After the marriage, he swiftly grew his wealth through investments in Russia’s biggest petro-chemical company Sibur. Unconfirmed media reports say Shamalov and Putin’s daughter have since split.

Forbes magazine says Shamalov is Russia’s 72nd richest businessman with a net worth of $1.4 billion. Shamalov now owns 3.9 pct in Sibur. Gennady Timchenko, a close associate of President Vladimir Putin, holds a stake in the company as well. Sibur is not under sanctions.

FROM U.S. TREASURY STATEMENT:

“Kirill Shamalov is being designated for operating in the energy sector of the Russian Federation economy. Shamalov married Putin’s daughter Katerina Tikhonova in February 2013 and his fortunes drastically improved following the marriage.”

ANDREI SKOCH, a deputy in the Russian State Duma, the lower house of parliament

Forbes magazine says Skoch is Russia’s 23rd wealthiest businessman with a net worth of $4.9 billion. Skoch’s father, Vladimir, owns a stake in USM holding. Businessman Alisher Usmanov is a key shareholder in USM. Neither Usmanov nor USM are under sanctions.

Via USM, Skoch’s father co-owns Metalloinvest, Russia’s largest and the world’s second-largest mining company by the size of iron ore reserves, with units in Ireland, Switzerland and Guinea.

USM also has stakes in Megafon, Russia’s second largest mobile operator, in MAIL.RU Group, one of Russia’s largest internet companies, and in Russian social networks VKontakte and Odnoklassniki.

USM also has stakes in Alibaba, JD.com, Xiaomi, Uber, Spotify, Airbnb, Zalando, Flipkart, Ola Cabs, Didi Chuxing, ZocDoc and Klarna.

FROM U.S. TREASURY STATEMENT:

“Andrei Skoch is being designated for being an official of the Government of the Russian Federation. Skoch is a deputy of the Russian Federation’s State Duma.”

SULEIMAN KERIMOV, member of the Russian upper house of parliament

Kerimov is ranked by Forbes magazine as Russia’s 20th wealthiest businessman, with a net worth of $6.4 billion. Embroiled in a tax fraud investigation in France, the Kremlin has said it will do all it can to help him.

Polyus, Russia’s largest gold producer, is controlled by Kerimov’s family. Polyus is not under sanctions.

FROM U.S. TREASURY STATEMENT:

“Suleiman Kerimov is being designated for being an official of the Government of the Russian Federation. Kerimov is a member of the Russian Federation Council.”

VLADIMIR BOGDANOV, chief executive of oil company Surgutneftegaz

FILE PHOTO: Vladimir Bogdanov (R) shakes hands with Russian President Vladimir Putin at the Kremlin in Moscow, Russia, April 30, 2016. REUTERS/Sergei Karpukhin

Forbes magazine puts Bogdanov’s net worth at $1.8 billion, making him Russia’s 53rd wealthiest businessman.

Surgutneftegaz is already under sanctions.

FROM U.S. TREASURY STATEMENT:

“Vladimir Bogdanov is being designated for operating in the energy sector of the Russian Federation economy. Bogdanov is the Director General and Vice Chairman of the Board of Directors of Surgutneftegaz, a vertically integrated oil company operating in Russia.”

IGOR ROTENBERG, son of Arkady Rotenberg, Putin’s former judo partner

Forbes magazine says Igor Rotenberg is Russia’s 93rd richest businessman and worth $1.1 billion.

Arkady Rotenberg and his brother Boris Rotenberg are already under sanctions due to their close connections to Putin whom they have known since they practised judo together in St Petersburg in Putin’s younger days. Arkady Rotenburg is now overseeing the construction of a bridge Putin has championed to Russia-annexed Crimea.

FROM U.S. TREASURY STATEMENT:

“Igor Rotenberg is being designated for operating in the energy sector of the Russian Federation economy. Rotenberg acquired significant assets from his father, Arkady Rotenberg, after OFAC designated the latter in March 2014. Specifically Arkady Rotenberg sold Igor Rotenberg 79 percent of the Russian oil and gas drilling company Gazprom Burenie.”

Reporting by Katya Golubkova, Gleb Stolyarov and Oksana Kobzeva; Editing by Andrew Osborn

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naijaquest · 7 years

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THE RICHEST MAN IN DELTA STATE 2017, HERE IS THE TOP 10

There are lots of rich men who are in Delta state. Delta state is an oil producing state of Nigeria. The state is situated in the region known as the South-South geo political zone. Delta state has a population of 4,098,291. The capital of Delta state is Asaba, which is located at the Northern end of the state with an estimated area of 762…

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ardenlininger25-blog · 7 years

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The Richest Woman In Nigeria 2017

These wealthy women in Nigeria have proven that they can compete in richness with men. Who is the richest woman in Nigeria? How did she become more successful than other people in Africa? Let`s start with top 10 rich women in Nigeria to find out who is the richest of them all. Their assets and experience in life can speak for themselves.

How to find the richest woman from Africa? It`s easy as they do not tend to hide their riches from people. Some of them are self-made businesswomen, others have become rich due to their family heritage. Still, each person on this list has earned the right to be called the richest woman!

Folorunsho Alakija

She is the richest woman billionaire in Nigeria. According to her biography, Folorunsho Alakija did not attend any university, but it did stop her to become a successful woman. She is a female billionaire that founded the Famila Oil - one of the biggest oil companies in Nigeria. Folorunsho Alakija net worth is tremendous, more than $2.1 billion.

She also has real estate with the overall price of more than one hundred million dollars and a private jet worth $46 million. She is 66 years old. She has spent most of her life earning this sum of money. In 2014, she was presented at Oprah Winfrey`s program as the richest woman in Africa!

Hajia Bola Shagaya

She is surely one of the richest people in Africa. She is also one of the few billionaire black women in the world. Hajia Bola Shagaya was born in 1959 in Ilorin, Kwara. She started her career at audit department of the Central Bank of Nigeria.

Her business started when she introduced photographic materials of the Konica brand to Nigeria. That was only the start. Now she is a director of Practical Limited - one of the largest oil companies in Nigeria. She owns a Gulfstream G650 aircraft! Hajia Bola Shagaya net worth is about $1.9 billion.

Diezani Alison Madueke

READ ALSO: David Oyedepo house and cars

She is a Nigerian politician and the first female president of OPEC. Diezani Alison Madueke also worked as Minister of Transportation in Nigeria in 2007-2008. She later moved to Mines and Steel Development in 2008 and was appointed Minister of Petroleum in Nigeria.

She was appointed to the cabinet with the help of President Goodluck Jonathan. In 2015, Reuters reported that Diezani Alison Madueke was arrested by the UK`s National Crime Agency on suspicion of corruption. Nigerian Economic and Financial Crimes Commission also raided her real estates in Nigeria. She supposedly has about $2 billion dollars on her various bank accounts.

Daisy Danjuma

She is a strong woman and considered to be the richest woman entrepreneur in Nigeria. She is a wife of one of the richest men in Nigeria - General Theophilus Danjuma. She got a lot of presents from her billionaire husband including super jet which cost over $40 million. She also runs several companies across Nigeria provided her by the husband.

In 2003 she was elected as Senator of Nigeria, that only helped to boost her bank accounts. Daisy Danjuma also worked on various committees as Senate Committee Chairman on Women Affairs and Youth Development and Chairman of the ECOWAS Parliament`s Women and Children`s Rights Committee. Her husband helped her to earn more than $1 billion of her net worth.

Stella Oduah-Ogiemwonyi

She is considered to be one of the richest women in the world, but now she also worked as the Federal Minister of Aviation in Nigeria. She has close relations with former President Goodluck Jonathan as she served as his campaign`s Director of Administration and Finance.

Before that, she worked at the NNPC and later created Sea Petroleum&Gas Company Limited. Now she struggles with financial problems as her company has been closed with indebtedness over $16 billion. She currently has about $1 billion in various bank accounts which she can still use.

Florence Ita Giwa

Florence Ita Giwa was born in 1946 in Cross River State. She was elected Senator of this state. After her leaving the Senate she joined the People`s Democratic Party, where she became Special Adviser on National Assembly Matters of President Olusegun Obasanjo. She was suspected of corruption by the Economic and Financial Crimes Commission. She currently has from few hundred million dollars to one billion on various bank accounts.

Cecilia Ibru

Cecilia Ibru was born in 1946 in Nigeria and worked as the Managing Director and Chief Executive Officer of Oceanic Bank. Later she became the CEO of the Union Bank of Nigeria. Ibru appeared in various scandals connected with multibillion frauds. Anti-corruption police confiscated almost all her properties when she was found guilty to fraud charges. However, she might have about one billion dollars on her secret accounts today.

Fifi Ekanem Ejindu

Fifi Ekanem Ejindu is an architect and businesswoman. She is also one of the richest woman according to Forbes. According to her biography, she is a great granddaughter if King James Ekpo Bassey. Her father was a famous Professor Sylvester Joseph Una. In 1995 she returned from the USA to start her own business in Nigeria.

In 1995 she started Starcret Group Investment Ltd, Starcret Industries Ltd and Starcrest Associates Ltd which was involved in building constructions, gas and oil. Fifi Ekanem Ejindu describes her architectural style as Neo-traditional. She defined building with tribal old style features. Her current net worth is about $600 million.

Dr Stella Okoli

Dr Stella rose into the world of billionaires with her urgent drive to make healthcare affordable in Nigeria. She is a CEO of Emzorpharmaceutical Industries Limited, which produces over thirty types of pills consumed by millions of Nigerians.

The company is on the market for over 35 years. Her drive provided her not only money but the world`s recognition too. She also started a Non-profit Organisation called the Chike Okoli Foundation. The main goal of the organisation is to fight poverty and diseases in Africa. She also founded the Chike Okoli Centre for Entrepreneur. Dr Stella Okoli is a woman with more than $500 million of her net worth.

Bimbo Alase

Mrs Bimbo Alase is on the list of the richest woman from Africa. She managed to cement her place in the high society of Africa. She started with a small furniture store in Lagos many years ago. Since then it has been developed to one of the biggest furniture companies in Nigeria!

Her small business is now known as Leatherworld Furniture Company. This company is partnered with NIERI - one of the most popular Italian Furniture Company. Therefore, Leatherworld Furniture Company sells one of the best furniture in Africa. She is a proud mother of one child and her Leatherworld Furniture Company provided over $400 million.

So who is the reachest woman in Nigeria? It is beautiful Folorunsho Alakija!

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olliebanuelos63-blog · 7 years

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IBB, OBJ Can’t Choose New President

Despite proclamations to the contrary, evidence shows that the Nigerian government continues to perpetuate poverty in the country by practice of the enrichment of a few officials at the expense of millions of people.

As a result, governments at federal and state levels underfund vital sectors of the economy except for the political sector where individuals at the very heart double-dip into the public purse. Mathematically, just a few of these officials, for the privilege of serving in political office, earn in a year what over 112 Nigerians living below the poverty line cannot earn in a lifetime.

Saharareporters looked at 24 well-positioned politicians today whose earnings as political office holders illustrate this fact. The 24 politicians—previous state governors or deputy governors who are currently serving as Senators or Ministers of the Federal Republic of Nigeria are drawing wages on the right and on the left—are: Former governors ripping Nigeria off Sahara Reporters Media

Theodore Orji Godswill Akpabio Joshua Dariye Rabiu Kwankwaso Bukola Saraki Abdullahi Adamu Isiaka Adeleke (late) Aliyu Magatarda Shaaba Lafiaji Adamu Aliero Kabiru Ibrahim Gaya Muhammed Danjuma Goje George Akume Abubakar Danladi Sani Jonah David Jang Samuel Egwu Ahmed Sani Yarima Biodun Olujimi Enyinnaya Abaribe Rotimi Amaechi Babatunde Fashola Kayode Fayemi and Chris Ngige

According to the Revenue Mobilization Allocation and Fiscal Commission (RMAFC), the government agency which has the responsibility of determining the remuneration of political office holders, governors and deputy governors are entitled to N2,223,705 and N2,112,214 as annual salaries. This is outside of numerous allowances accruable to them.

RMAFC is also, by the provision of the constitution, empowered to determine the remuneration of all legislators. A Senator is entitled to a whopping sum of N12,939,549 per annum, as basic salary and allowances.

These 24 individuals have earned almost 10 billion naira as salaries and privileges for serving in public office. Meanwhile, the poverty report of Nigeria Bureau of Statistics (NBS) pinned the poverty rate at 67.1% of the total population, indicating that over 112 million Nigerians live below the poverty line. In sharp contrast to the reality of those over 112 million Nigerians living below the poverty line, Nigeria, at both state and federal levels, has remained committed to enriching a few politicians to the detriment of the majority of her citizens.

It must be pointed out that the amount relating to governors excludes any other largesse they must have enjoyed while in office. For instance, the controversial security vote, which has become the honey pot of many state governors, was not considered because the funds and how it is spent remains shrouded in secrecy. Privileges such as medical care, security and vacation were also not added.

The implications of this misplacement of financial priority on the part of the government are not far to seek. Across the country, schools have been shut down because of poor funding, yet both state and federal governments have continued to fund this infinitesimal group, paying them humongous salaries and pensions.

In the last two years, for instance, Ladoke Akintola University of Technology has been shut down for more than 10 months because both joint owners, Oyo and Osun state governments, have refused to fund the institution adequately. Meanwhile, the two states have continued to fund a robust pension package for all former governors and deputy governors.

An extensive investigation by Saharareporters revealed 13 states that have continued to fund 16 ex-leaders who also are currently earning fat salaries from the coffers of the federal government. These states include: Abia, Akwa Ibom, Anambra, Kano, Kwara, Osun, Sokoto, Gombe, Adamawa, Ebonyi, Zamfara, Rivers, and Lagos.

Mr. Isiaka Adeleke, the first civilian governor of Osun state and a three-time member of the Nigerian Senate up until his death a few months ago, was enjoying a life time pension which had run up to N446million in seven years.

Osun State, with thousands of unpaid workers and civil servant pensioners, has used up about half a billion naira in pensions to just one former governor who was in office for only one year (1992-1993).

According to NBS, Gombe, Sokoto and Zamfara States are three of the top 10 poorest states in Nigeria; Zamfara being 10th with 70.11% of population living in abject poverty, while Sokoto and Gombe ranked 2nd and 4th with 80.2% and 74.2% respectively.

But these three states have paid over half a billion naira as pension to three former governors. Ahmed Sani Yerima who was governor of Zamfara state in 1999-2007 has earned N182m in 10 years since leaving office. In total, Yerima has earned N426mfrom both state and Federal governments, as a former governor and now as a member of the Senate.

Furthermore, Gombe and Sokoto States have paid Mohammed Danjuma Goje and Aliyu Magartakarda Wamakko N297m and N200m respectively as pension since the duo left office as governors.

Goje who also was a former Minister (1999-2001), has smiled home with N596m during his triple helpings as governor, minister and currently, Senator. This is outside of his medical care and security that the Gombe government is bound by law to provide for him as a former governor.

Yerima and such people as the former Yobe governor, Bukar Abba Ibrahim (who was recently caught in a dingy hotel sleeping with two girls), George Akume of Benue, Rabiu Kwankwanso of Kano and Samuel Egwu of Ebonyi, have scooped up hundreds of millions from the government’s purse since 1999 and will continue until 2019 at least. That would be 20 years of unbroken earnings for just five men people in a country where 112 million live in abject poverty.

Kwakwanso, Egwu and Akume have respectively earned N578m, N157m and N244m since 1999 that they entered government, with close to one billion naira accruing to Bukar, who was Yobe governor for 8 years and has earned N865m as pensions since vacating the governor’s seat 10 years ago.

Also firmly in the one billion naira circle is the current Minister for Transportation, Rotimi Amaechi, who has earned N1billion since 2007 when he became governor of Rivers state. Amaechi has earned N965 million as pension from that state, and now earns more besides as Minister.

Equally fascinating is Akwa Ibom State, which considering its oil producing status is one of the richest states in the country, but that has never translated to improved living conditions for the Akwa Ibom people. That does not include the likes of Godswill Akpabio, who has received N654millionas pensions in the last two years alone.

What is worse is the revelation that pension payments and other entitlements were drawn and passed into law by some of the politicians considered in this report when they were sitting governors. In 2007, Buka Abba Ibrahim, who is one of the highest-earning pensioners in Nigeria, signed the pension law in Yobe state. In 2010, Saraki implemented his version in Kwara State while Amaechi did the same in 2014 in Rivers State.

Babatunde Fashola, the Minister for Power, Works and Housing is a beneficiary of the two-fold pension benefit system enshrined in the Lagos State pension act 2007. As a former governor who served two terms, Fashola is entitled to two houses - in Lagos and Abuja - as retirement benefits. This is irrespective of the RMAFC prescription that provided 300 percent of basic salary as severance for Certain Political Office Holders and Judicial Officers.

According to the Act, "The recommendation is to maintain this allowance at 300% of annual basic salary enjoyable by elected and appointed political, public and judicial office holders at all tiers of government after successful completion of each tenure."

For these 24 super-Nigerians, who have interpreted, and deployed the apparatus of state to serve them for life. Beyond the naira and kobo that flow voluminously into their accounts, they enjoy security protection that is separate and distinct from that being provided by their current offices. Armed policemen and officers of Department of State Security Service (DSS) are deployed to ensure their safety as ex-governors or deputies, and for their families too. In addition, many of them ensured they would, and are enjoying the services of a contingent of endless domestic staff of cooks, gardeners and drivers, courtesy of the state government.

Opportunity Cost Of The Billions Spent On These Politicians

What might Nigerian states have looked like, were these funds not being drained by insensitive and selfish politicians?

In Zamfara State, Saharareporters projects that the hundreds of millions being paid to former Governor Yerima in pensions could have procured vaccines to confront the outbreak of fatal diseases in the state. Had that been in place a few years ago, the outbreak of Type C Cerebrospinal Meningitis which claimed 215 of the 336 lives lost nationwide may have been avoided.

On the subject of health, that sector remains one of Nigeria’s most decrepit, largely because of poor funding, with many Nigerians, including children, dying daily of treatable diseases such as malaria. The humongous sums being claimed as pensions and bogus allowances by these politicians, who give themselves and their families the best medical care in foreign hospitals, would have done a great deal to strengthen the health sector.

What about the education sector? Only recently the United Nations Emergency Fund (UNICEF) reported that approximately 10 million school age children are out of school in Nigeria. One of the factors for the high rise in the statistics of out of school kids has predominantly been affordability and accessibility of schools. With 9.7 billion naira, at least 10 public schools could have been built, greatly reducing the number of children who are out of school.

Viewed another way, that sum could have funded LAUTECH, for instance. With the millions of naira being paid in pensions to former governors and deputy governors, that institution would have fared much better. According to different reports, LAUTECH needs only about N4 billion to clear staff salaries and get the institution back on its feet. But while top politicians, many of who send their children to expensive schools abroad, continue to drain these critical funds, over 28,000 young Nigerians have been kept out of school as an opportunity.

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newsflashuk · 7 years

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How Just 24 Privileged Former Nigerian Governors And their Deputies Drain Nigeria of Scarce Funds, Perpetuate Poverty

Despite proclamations to the contrary, evidence shows that the Nigerian government continues to perpetuate poverty in the country by the practice of the enrichment of a few officials at the expense of millions of people.

Former governors ripping Nigeria off [Photo Credit: constitutionSahara Reporters Media]

RMAFC is also, by the pro vi constitution, empowered to determine the remuneration of all legislators. A Senator is entitled to a whopping sum of N12,939,549 per annum, as basic salary and allowances.

An extensive investigation by Saharareporters revealed 13 states that have continued to fund 16 ex-leaders who also are currently earning fat salaries from the coffers of the federal government. These states include Abia, Akwa Ibom, Anambra, Kano, Kwara, Osun, Sokoto, Gombe, Adamawa, Ebonyi, Zamfara, Rivers, and Lagos.

According to NBS, Gombe, Sokoto and Zamfara States are three of the top 10 poorest states in Nigeria; Zamfara being 10th with 70.11% of the population living in abject poverty, while Sokoto and Gombe ranked 2nd and 4th with 80.2% and 74.2% respectively.

Furthermore, Gombe and the Sokoto States have paid Mohammed Danjuma Goje and Aliyu Magartakarda Wamakko N297m and N200m respectively as pension since the duo left office as governors.

Kwakwanso, Egwu, and Akume have respectively earned N578m, N157m and N244m since 1999 that they entered government, with close to one billion naira accruing to Bukar, who was Yobe governor for 8 years and has earned N865m as pensions since vacating the governor’s seat 10 years ago.

Babatunde Fashola, the Minister for Power, Works and Housing is a beneficiary of the two-fold pension benefits system enshrined in the Lagos State pension act 2007. As a former governor who served two terms, Fashola is entitled to two houses – in Lagos and Abuja – as retirement benefits. This is irrespective of the RMAFC prescription that provided 300 percent of basic salary as severance for Certain Political Office Holders and Judicial Officers.

According to the Act, “The recommendation is to maintain this allowance at 300% of annual basic salary enjoyable by elected and appointed political, public and judicial office holders at all tiers of government after successful completion of each tenure.”

For these 24 super-Nigerians, who have interpreted, and deployed the apparatus of the state to serve them for life. Beyond the naira and kobo that flow voluminously into their accounts, they enjoy security protection that is separate and distinct from that being provided by their current offices. Armed policemen and officers of Department of State Security Service (DSS) are deployed to ensure their safety as ex-governors or deputies, and for their families too. In addition, many of them ensured they would, and are enjoying the services of a contingent of endless domestic staff of cooks, gardeners and drivers, courtesy of the state government.

Opportunity Cost Of The Billions Spent On These Politicians

What might Nigerian states have looked like, where these funds not being drained by insensitive and selfish politicians?

The Nigerian government is widely-adjudged to be one of the most expensive around the world, but it is becoming increasingly more expensive because of the cost of serving and sustaining a small group of current and past political office holders.

The time has come when Nigerians must loudly demand that these officials, who identify and denounce corruption only when it is on the other side of the road, cut down on dubious government expenses such as salaries, pensions and allowances, and reprioritize the country’s financial engagement so that such critical sectors as education and health can develop, thereby translating into better living conditions for the populace.

The post How Just 24 Privileged Former Nigerian Governors And their Deputies Drain Nigeria of Scarce Funds, Perpetuate Poverty appeared first on Newsflash247.

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newsflashuk · 7 years

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How Just 24 Privileged Former Nigerian Governors And their Deputies Drain Nigeria of Scarce Funds, Perpetuate Poverty

Former governors ripping Nigeria off [Photo Credit: constitutionSahara Reporters Media]

An extensive investigation by Saharareporters revealed 13 states that have continued to fund 16 ex-leaders who also are currently earning fat salaries from the coffers of the federal government. These states include Abia, Akwa Ibom, Anambra, Kano, Kwara, Osun, Sokoto, Gombe, Adamawa, Ebonyi, Zamfara, Rivers, and Lagos.

Furthermore, Gombe and the Sokoto States have paid Mohammed Danjuma Goje and Aliyu Magartakarda Wamakko N297m and N200m respectively as pension since the duo left office as governors.

Opportunity Cost Of The Billions Spent On These Politicians

What might Nigerian states have looked like, where these funds not being drained by insensitive and selfish politicians?

The post How Just 24 Privileged Former Nigerian Governors And their Deputies Drain Nigeria of Scarce Funds, Perpetuate Poverty appeared first on Newsflash247.

from WordPress http://ift.tt/2uXMbcG

#News #Nigerian Governors

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