The Delta State Government has commended sons and daughters of the Ubulu Uku, in the diaspora in the Aniocha South area of the state for their support to the government’s developmental efforts in making life more meaningful to the people of the area.
The government’s commendation came in the wake of successful inauguration and connection to national grid, of a 33kva transformer worth over N10 million for the smooth running of the General Hospital Ubulu-Uku and a scholarship award to indigent undergraduates from the community by the Ubulu Uku USA Association based in the United States of America (USA).
President of the Association, Mr. Mike Eboka, said his group was deeply worried at the sorry state of the hospital which has not been functioning maximally for some time hence the decision of the Ubulu Uku USA to intervene.
He lamented that referrals to the hospital has been on steady decline as the hospital could hardly attend to patients due incessant blackout, a development that made the Ubulu Uku Association in the United States of America to decide to lift the hospital with the provision of the transformer.
This Mr. Eboka assured would lessen the burden posed to the management of the hospital and the people of the community who have had to seek medical services far away from their settlement.
Medical Director of the hospital, Dr. Patrick Ekeruche thanked the Ubulu Uku USA for the gesture saying the state government was happy and appreciated the public spirit of the Union in collaborating with the state even when members are based outside the country.
He said the provision of electricity transformer would help improve the services rendered by the hospital as the prevailing power outage was almost turning the health facility moribund
Dr. Ekeruche urged other Community Associations to emulate the kind gestures of Ubulu Uku USA and explore ways of partnering with the state government to deliver services to the people as government alone could not meeting all the developmental needs of the people.
Meanwhile, the Union has also declared Miss Nancy Odinakachukwu from Akpama Quarters in Ogbe part of Ubulu Uku, Aniocha South Local Government Area of Delta State, as the receipt winner of this year’s annual Ubulu Uku Union, USA (UUU USA) Incorporation sponsored educational scholarship award.
It announced the undergraduate as the award recipient after the final screening at the last general conference call of the association held recently
As a recipient of the Scholarship, Miss Odinakachukwu will be receiving a sum of One hundred thousand Naira, every year for four year duration of the undergraduate course, but not exceeding six years depending on the course of study.
Confirming Miss Odinakachukwu as the winner, the UUU USA President, Mr. Eboka said “I am happy to announce the selection of Ms. Nancy Odinakachukwu from Akpama Quarters in Ubulu-Uku as our Scholarship Award recipient with a Major in Nursing at the University of Benin. As directed in our call, I have personally called to congratulate her”.
“We will be presenting her officially with an award certificate and additional funding and eligibility requirements to ensure all criteria are being met for the scholarship award program. We are working to update this scholarship information as well as our successful electrification project at our Government General Hospital on our web site in the next few days”.
“We are also planning to share this information with the various social media’s in our community. On behalf of the UUU USA project team and the entire membership of Ubulu-Uku USA, please help us congratulate Ms. Nancy Odinakachukwu as our scholarship recipient. Her phone number will be provided in due cause for those who may wish to congratulate her directly. More information will be provided during our upcoming Columbus Convention”, Mr Eboka said.
Recall that Ubulu Uku, USA, a non-profit organisation and an umbrella body of Ubulu Uku people residing in the United States of America had in early March this year, offered scholarship awards to two deserving Ubulu Uku students.
The association had, in an official statement jointly signed by their President, Mr. Mike Eboka and Secretary General, Mr. Michael Ejogo stated that the Union will be sponsoring scholarship awards to two deserving students who have duly gained admissions to any Federal or State University in Nigeria for the academic period which will commence September, 2018.
The group stated “the two scholarships awards will be for 4 years for a regular Bachelor’s degree course or 5 to 6 years for a course which requires more than 4 years to obtain a degree”.
They further pointed out that the scholarship has become necessary following the importance and great values a good University education can offer.
On the purpose of the scholarship award, the Union said the scheme was designed to assist underprivileged (low income and first generation) sons & daughters of Ubulu-Uku to continue their educational pursuits in any federal/state University in Nigeria. They however, pointed out that opportunities are only given to families, in which neither parent holds a bachelor’s degree.
BUA Cement set to establish ultramodern 3million cement plant, 50mw power plant in Adamawa
BUA is Nigeria’s second-largest cement producer by volume with cement plants in Sokoto and Edo States.
BUA Cement, One of West Africa’s largest Cement companies has announced that it is set to establish a three million metric tonnes cement plant and 50 megawatts power plant in Guyuk and Lamurde local governments of Adamawa state in the North Easter region of Nigeria. This was revealed when the Chairman of BUA, Abdul Samad Rabiu led the BUA Cement Management team on a courtesy call to the Adamawa State Governor, Ahmadu Umaru Fintiri in the Government House, Yola.
Speaking during the visit, Abdul Samad Rabiu said preliminary findings show that the two local governments of Guyuk and Lamurde are reputed to have good quality of limestone deposits and BUA Cement is ready to begin the investment in the state. He added that the BUA will use new technologies to supply power to the proposed cement plant and communities of Guyuk and Lamurde in addition to providing three thousand direct and five thousand indirect jobs.
The Chairman stressed that the Guyuk Cement Plant will be the major investment in the North-East by BUA and solicited for support of Governor Umaru Fintiri to set up the factory in Guyuk. Rabiu said the company made a decision to source its raw materials locally and it has invested billions of dollars in various sectors across Nigeria and therefore urged the state government to support BUA to actualize the Guyuk Cement project. In addition, he praised the commitment of the governor within one year in office in many sectors of development despite the economic challenges in Adamawa.
Responding, Governor Ahmadu Umaru Fintiri said his administration’s effort in exploring local contents has started yielding results and thanked BUA for showing interest in establishing the cement plant in Guyuk. He further assured the management team of BUA that government will make whatever is needed and provide the necessary support which will create enabling environment so that the BUA Cement company in Guyuk will become a reality.
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He also expressed readiness of the government to protect the investment once it is established and told them that his administration will maintain the good relationship with the company for the benefit of the state.
BUA is Nigeria’s second largest Cement Producer by volume with cement plants in Sokoto and Edo States. The Company’s newest plant in Sokoto is expected to be operational in 2021. When completed, the Guyuk Cement Plant will bring BUA’s total capacity to 14million metric tonnes per annum.
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Investment One’s Dollar Fund offers Investor comfort amid FX uncertainty
The fund is regulated by the Securities and Exchange Commission and in accordance with regulation.
With a minimum of $500, investors seeking to hedge their savings against currency risk can invest in Vantage Dollar Fund (VDF)managed by Investment One Funds Management Ltd and would earn a steady return on their investment. The pool of funds will be invested in Nigerian originated dollar-denominated assets including sovereign and corporates, the firm said.
Since launched in 2018, the Vantage Dollar Fund has awarded investors, a good value for their money both in terms of interest income and capital appreciation.
The Dollar Fund is an open-ended fund, meaning investors can continuously make additional investments in multiples of $1.00 to their already subscribed units.
It has a minimum holding period of 180 days and a redemption cycle of T+5 (payment is made not later than five business days after an investor submits a redemption form).
The fund is regulated by the Securities and Exchange Commission (SEC) and in accordance with regulation, it has an independent trustee and custodian.
As a petrodollar economy, Nigeria is susceptible to weakness in global oil prices which has continually impacted the country’s exchange rate and brings to the table conversations around devaluation of the local currency as was the case in 2016 when the local currency devaluation led to a more than 50 percent decline in the dollar value of investors naira assets.
Diversification of investment portfolio between naira and dollar assets has proven to be a superior investment strategy as it helps in saving to further dollar obligations such as vacation, schooling amongst others.
The Vantage Dollar Fund by the financial services firm, is one of such funds that seeks to protect investors’ assets against currency risk, as the investment is dollar-denominated.
For flexibility, the firm noted that investors who might have need for their monies within the minimum holding period, to be allowed redemption during the minimum holding period subject to a 15 percent charge on the positive total return on the units being redeemed on the day of redemption.
According to Investment One, who is the fund manager, every unit holder shall be entitled to receive an electronic certificate for the number of units purchased by such unit holder, and this electronic certificate shall be conclusive evidence of the number of units held.
These investors are sure of enjoying numerous benefits including capital appreciation, competitive returns diversified portfolio; and regular and steady income stream, that is independent of policy changes in the economy.
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Rivers, Kwara, receive 6 ambulances, food supplies and N100million each from BUA for COVID-19 intervention
BUA Foundation said the donations are intended to assist both governments in fighting the pandemic.
The Rivers and Kwara State governments have commended BUA Group through its philanthropic arm, BUA Foundation for its support to both states in assisting in their fight against COVID-19. This came as BUA donated 6 ambulances, food supplies and 100million Naira each to both states.
Speaking while presenting the ambulances to Nyesome Wike, the Rivers State governor in Port Harcourt and his Kwara State counterpart, AbdulRahman AbdulRazaq in Ilorin, representatives of BUA Foundation said the donations are intended to assist both governments in fighting the pandemic to a standstill as number of cases continue to rise in Nigeria.
On his part, Governor Wike praised the sustained support from BUA Foundation to the Rivers State government. He also revealed that the company has made a donation of 100million as well as 4,000 cartons of pasta for which the State remained grateful
Also, Governor AbdulRahman thanked Abdul Samad Rabiu, the Executive Chairman of the Group for the ambulances and the 100million Naira donations to Kwara state which will further strengthen the state’s fight against the pandemic. He also added that the donations will be used judiciously.
Since the start of the pandemic, BUA has committed about 20million dollars to various efforts to tackle the virus within Nigeria.
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