Business

Again, Africa’s biggest Philanthropist, Femi Otedola has Done It!

Published

5 years ago

September 17, 2019

Adebayo

Again, Africa’s biggest Philanthropist, Femi Otedola has Done It!

Magnanimity is seldom a strong suit of Nigerian billionaires. But nature does not use a one-size fits all approach which is why billionaire businessman, Femi Otedola, is widely perceived as one of the rarest and kindest of money men.

Without a doubt, if the history of biggest philanthropists in Africa were to be documented, the billionaire’s name would definitely gain prominence.

Giving, without looking back, is a second skin to him. Whilst he would rather do this without making a song and a dance of it.

And he has done it again.

The benevolent billionaire has taken up the medical expenses of the famous reggae icon, Majek Fashek, who is terribly sick and stranded in London.

Confirming the story and sounding the alarm of the critical state of the ‘Rainmaker’, who is currently receiving treatment in a London hospital, his manager, Uzoma Day Omenka, painted a pathetic picture of the dire situation the musician is in.

Thankfully, Mr Otedola is taking care of the hospital bill fully and this has thrown Nigerians across the world into fits of joy.

Billionaire businessman and Chairman of Forte Oil, Femi Otedola, does not court media attention needlessly.

Yet, almost every move he makes, either in his business or private life, has never escaped the attention of newshounds.

He is a delight to professional journalists and biographers. If you choose to write about his uncommon feats as a businessman, you will come up with volumes of work that will most likely intimidate a bibliophile. In the same way, if you choose to document his philanthropic acts, in black and white, your hand may grow tired.

Such is the life of this oil mogul who has become an angel of hope to many and a God-sent to his compatriots who have been visited by the vicissitude and lassitude of life. To say he is generous with his God-given wealth is to put it mildly.

Among his other acts of uncommon generosity and fellow-feeling, he came to the rescue of ailing popular thespian, Victor Olaotan, last year, when he needed over $100,000 for treatment of an injury he sustained in a ghastly auto accident in 2016.

The veteran actor received the much-needed but expensive neuro-rehabilitation treatment that saved his legs from being amputated, courtesy of the Lagos State- born business magnate’s kindness.

In line with his avowed commitment to lending a helping hand to his needy compatriots, Otedola has, again, risen to help a soul, Christian Chukwu. Immediately news broke that the former Green Eagles skipper needed $50,000 to complete treatment for prostate cancer which has affected his leg, Otedola was said to have called him and promised to foot the bill at the Wellington Hospital, London. He could not imagine the man who had made the country proud in the past as the captain of the first Nigeria team to win the African Nation cup continue to writhe in pains.

In May this year, Otedola also came to the aid of Peter Fregene, a former Green Eagles goalkeeper, who had been bedridden since 2001, after a SUNDAY PUNCH report.

Otedola has also reportedly taken up the medical expenses of ailing Nollywood actor, Sadiq Daba.

In 2017, Sadiq Daba, who had been battling leukaemia and prostate cancer for the past few years, returned to Nigeria from the UK where he went for medical treatment. The ace broadcaster also revealed that he was diagnosed with prostate cancer in November 2017. This was barely months after he was hospitalised due to leukaemia.

Business

Ooni of Ife Extends Business Frontier with Audacious Takeover of Tingo

Published

15 hours ago

April 19, 2024

Adebayo

Ooni of Ife His Imperial Majesty, Enitan Adeyeye Ogunwusi

Coca Cola, Pepsi, American Cola & all other popular brands in the soft drink sector & energy drink sector should get set for an immense battle royale, which would be to the great advantage of the consumers, as the newest brand to come into that sector arrived with a massive bang yesterday! And to the admiration of all.

Tingo set of drinks launched on Tuesday, April 16, 2024, at their expansive HQ, to the admiration of all to loads of unprecedented razzmatazz/fanfare with consumers greatly giving kudos for a good job well done.

Only 2 out of 9 variants were launched yesterday. The Tingo Cola & Tingo Electric Energy drink. And already people are anticipating the other variants with bated breaths! As they were quite impressed with what they have experienced already!

To state a fact without mincing words, the taste was amazing, as was the international style packaging, too, in reusable cans, with health considerations playing a major part in the production. Sugar content was exact without affecting the taste!

Even the name of the brand Tingo is also titillating, to say the least.

All of the 9 varieties of impressive drinks are set to be unleashed powerfully into the market pretty soon like a takeover by the company now captained by none other than his imperial majesty, Alaiyeluwa Oba Adeyeye Babatunde Enitan Ogunwusi, the Ojaja II, Ooni-Orisa Olofin Adimula of Ile-Ife.

The astute businessman cum royal father is said to have bought off the company from the former owner and has deliberately kept the fascinating name of the brand.

The amiable monarch, who is a youth advocate/encourager in all ramifications, who believes fervently that the sky is the beginning, and not a limit as it concerns any endeavour one finds in his/her hand to do, spoke at the launch, thus:

‘Nigeria can lead the entire continent of Africa to compete favourably in the global market with standard goods and services, particularly when it comes to carbonated drinks, beverages, and the likes’.

Ooni went further to say that Tingo Cola and Tingo Electric; a Flavoured Carbonated and Energy drinks, respectively, produced by Tingo B.V PLC is a spin-off company from Ojaja Pan Africa Limited, explaining that Nigeria has a lot to offer the world.

“It has been my dream from childhood to have a homegrown brand that will satisfactorily produce international quality drinks that will serve Nigerians, and present the country as a leader in the African market and on the global stage.

“Currently, we have the license under which we are producing Tingo Cola, Tingo Electra, Tingo Twist (Cucumber and Cranberry) and Tingo Booze Fruit mix. All of which are produced and packaged in Nigeria with recourse to our values and standards. All to be properly integrated with Ojaja bitters, Orange, Lemon/Ginger/Orange drinks. Also, most importantly, we should all work towards elevating our homegrown brands instead of demarketing them.”

Speaking further on his involvement in the commercial activities through these products, Ooni Ogunwusi said, “I have taken it upon myself to step into the market not as businessman but as a pathfinder who will show our people how to add value for international standard in production to distribution and consumption. It is a new model that will be a win- win for everyone.

“With this, I am targeting a total of five million direct and indirect jobs for the youths, particularly through retailing, recycling, and other forms of distributorship fully driven by technology. The youths are drivers of this initiative, and we are determined to achieve this purpose through a unique, proven technology and innovation. Under our Unified ecosystem of “the more we are together, the happier we shall be”

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Business

Oando Boss Wale Tinubu Showers Encomium on Dangote @67

Published

1 week ago

April 11, 2024

Adebayo

Aliko Dangote with Wale Tinubu

‘Celebrate true friends. They are a part of you that always sparkle’ – Amy Leigh Mercree

The English-born actress may have had the boss of Oando Group, Jubril Adewale Tinubu in mind when she made this quote.

Truly, the trained lawyer never forgets to celebrate and appreciate his good friends whenever it is necessary. In fact, he is one gentleman who values and understands the definition of true friendship.

This played out yesterday, Wednesday, April 10, 2024, when he showered praises on his friend of many years, Africa’s richest man and Chairman of Aliko Group, Alhaji Aliko Dangote, when he clocked 67.

In celebration of Dangote, the oil and gas top player wrote:

“Happy Birthday to a visionary and accomplished entrepreneur whose impact continues to reverberate across Africa and beyond.

I hope your day has been filled with joy, laughter, and limitless blessings. May the world continue to recognise and applaud your remarkable achievements.

As you enter a new year, my prayer is that your commitment to building Africa never waivers but now and again you stop to appreciate the phenomenal difference you have made to the capacity of indigenous entrepreneurship on the global stage.

Wish you many more years in good health.

Dangote, a name that means so many things to many people. But what no one can deny is the fact that the name is essentially synonymous with success.

Since he made his mark in the nation’s business sector, many years ago, he has risen to become a glittering star in the business firmament.

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Business

Inflation: Real reason Indomie reduced Prices of Popular Staple Food item Revealed

Published

3 weeks ago

March 29, 2024

Adebayo

A flagship brand under Dufil Prima Foods Limited, Indomie Instant Noodles, has announced a significant reduction in prices to ensure affordability for consumers amidst Nigeria’s escalating inflationary pressures.

The decision came as a response to mounting economic challenges faced by Nigerians, with the aim of maintaining accessibility to this popular staple food item.

And this has been confirmed by a recent survey conducted across various stores in Lagos, which revealed a notable decrease in the prices of Indomie products. The cost of the 70g pack of Indomie Regular Chicken noodles plummeted from N300 to N250 compared to the previous month.

Additionally, the price of a 40-pack carton of Indomie dropped from N12,000 to N10,000 within the same timeframe. Prior to this adjustment, Indomie’s prices had surpassed those of competing brands such as Mimee (N200) and Honeywell noodles (N250).

Temitope Ashiwaju, the group corporate communications & event manager at Dufil Prima Foods Limited, attributed the price reduction to favourable changes in operational costs.

He emphasised the company’s commitment to passing on benefits to consumers, stressing their dedication to fairness and affordability.

“We are never going to be taking advantage of the populace. We want to make profit, but in a fair way,” the spokesman added. “That is why we are determined to keep our products affordable to Nigerians.”

Contrary to speculations suggesting low patronage as the driving factor behind the price adjustment, Ashiwaju reaffirmed that the decision was rooted in the company’s ethos of customer-centricity and fairness.

Industry experts have hailed Dufil Prima’s move as influential, predicting a ripple effect that could prompt other brands to follow suit because Indomie’s dominant position in the market has positioned it as a price setter, prompting expectations for broader shifts in pricing strategies across the industry.

The price reduction by Indomie comes amidst a backdrop of economic challenges in Nigeria, characterised by soaring inflation rates.

Over the past nine months, Nigeria has witnessed a steady rise in headline inflation, driven primarily by government reforms such as the removal of petrol subsidy and naira devaluation.

As a result, food inflation has surged, exacerbating the financial strain on households and leading to an increase in poverty levels.

Despite these economic headwinds, a recent report by Euromonitor International indicates robust growth in the sales value of noodles within Nigeria’s formal market.

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