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Nnamdi Kanu, Sunday Igboho’ll have it rough this year – Primate Ayodele predicts

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The Sun also reported that Primate Ayodele, urged Nigerians to be watchful and prayerful in the New Year in order to avert looming troubles ahead just as he announced that the first seven days of the year have been set aside for prayers for the nation.

He was quoted as saying, “In the first 160 days in 2022 Nigerians must be very careful and prayerful because of the evil of that period that is why we have set aside the first seven days of the year for prayers to avert the looming dangers ahead. The year 2022 is a year of mixed bag. So as a country we need prayers in order to avert avoidable troubles”.

Primate Ayodele said that contrary to insinuations, the Federal Government has no agenda to kill Sunday Igboho and Nnamdi Kanu, who are currently in detentions, but revealed that the duo might not find it easy as they battle to regain their freedom.

His continued, “Sunday Igboho must calm down. In fact, he needs to change his lawyer. He should look for a new and senior ‘Salami’ to handle his case.

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“In addition to that, if Igboho does not handle his matter very well he will stay longer in detention.

“The Nigerian government is so much interested in him. They are not going to kill him, but they are keen on holding him until the end of this administration. So, he must be very prayerful.

“Nnamdi Kanu will not find it so easy as well. He should still expect tough time because the government is not ready to free him for one second. He needs to be very prayerful and watchful this time around. The government does not have any plans to kill either Igboho or Kanu.

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“They should put that insinuation aside. Government will employ all sorts of tactics to prolong their days in detention. This year will be a tougher year for IPOB and ESN. There will be confrontations and killing between the nation’s security forces and IPOB and ESN.”

On the nation’s economy, Primate Ayodele said: “Nigerians need to be watchful about the nation’s economy. Our economy is going down. Oil will be discovered in few other places, but it will not impact on the economy.

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“Some documents will leak from NNPC and that will put the corporation into troubles. This will create problem for the Minister of Petroleum and the GMD of NNPC.

“The planned removal of fuel subsidy will plunge Nigeria into deeper problem. In addition to the hike in price of PMS, Nigerians must also expect scarcity of the product this year. I am seeing protest which can grind Buhari’s government for some time.”

His revelations for the New Year also captured the nation’s politics and the political actors in the country.

Primate Ayodele continued, “I will like to warn Hope Uzodimma not to waste his time and resources on re-election because he will definitely lose.

“PDP will take over the state at the end of next election. APC will not win Cross Rivers although the incumbent governor, Ben Ayade belongs to APC.

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“And if the man aspires to run for presidency or Vice President, his dream will not see the light of the day.

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“Tinubu will face a lot of trials and complications. He should drop his presidential ambition for better things because God has not ordained him. If anybody puts him there they will just mess this country up.

“Atiku will not make a better option as the president of Nigeria. If PDP gives it to Atiku, the party should bid the 2023 presidency goodbye.

“Kwankwaso wants to decamp; if he decamps to APC, he will just mess himself up,” he revealed.

Concerning the 2023 elections, Primate Ayodele said, “These are the people God revealed to me as presidential and vice presidential materials if they are lucky to be picked.

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“In APC, we have people like Zulum, Mala Buni, Governor of Yobe; Boss Mustapha, Malami, Fashola, Aregbesola, Fayemi and Akpabio.

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Real estate firm approves N14.50 dividend

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SFS Real Estate Investment Trust says it will pay N14.50 per share as dividends to its shareholders for 2023.

The Managing Director/Chief Executive Officer of SFS Capital Nigeria Limited, Patrick Ilodianya, disclosed this during the company’s general meeting held on Tuesday in Lagos.

According to Ilodianya, the SFS Real Estate Investment Trust, formerly known as Skye Shelter Fund, a subsidiary of SFS Capital Nigeria, witnessed a 70 per cent growth in net income to N317.5m in 2023 from N186.6m in the prior year.

“Concurrently, we observed a growth in dividend payouts of 71.60 per cent, nearly doubling,” he stated.

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The managing director explained that despite encountering challenging market conditions, SFS REIT consistently delivered dividends every year since its inception.

“In 2023, SFS REIT is proposing a dividend of N14.50 per share, marking this the highest dividend ever distributed in the Fund’s 17-year history.

“To contextualise these achievements, consider an investor who acquired SFS REIT shares on January 1, 2023, at a share price of N77.00. This investor would witness a capital appreciation of N24.35 per share (31.62 per cent), with the current share price standing at N101.35 per share.

“The overwhelming demand for shares has rendered them currently unavailable for purchase, as demand far exceeds supply. A dividend payout of N14.50 per share translates to an 18.83 per cent return compared to the share price on January 1, 2023, resulting in an estimated total return of over 50 per cent annually,” Ilodianya enunciated.

He spoke further that SFS REIT had invested in multiple units within organised and efficiently managed residential estates along the expanding Lekki corridor.

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He listed some notable investments, including Milverton Court Estate, Victoria Crest V Estate, Sapphire Gardens Estate, Maben Phase 2 Estate, Bourdillon Court Estate, Victory Park Estate, and Cromwell Court Estate.

He added that real estate returns remain stable while adjusting to inflation and consistently appreciating under skilled fund managers.

“Within SFS REIT, our Average Occupancy rate exceeds 98 per cent, while the average rental default rate remains below 1.5 per cent. Over the years, we have implemented various Proptech initiatives aimed at optimising rent collection, increasing occupancy rates, and reducing default occurrences.

“Leveraging technology, we have streamlined our property acquisition and disposal processes, enhanced tenant sourcing and appraisal procedures, automated entry/access control, and facilitated electricity vending.

“With 17 years of experience under our belt, SFS Capital Nigeria Limited remains exceedingly optimistic about the future. Positioned strategically, we are poised to implement innovative strategies to expand the fund and enhance its yield. While our current dividend payout of N14.50 per share represents the pinnacle in the history of REITs, we anticipate no decline. Instead, we envision SFS REIT continuing to deliver higher dividends in the foreseeable future,” he concluded.

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Cement price 69% higher in Nigeria than India – Reps C’ttee

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The House of Representatives Joint Committee investigating the arbitrary increase in the price of cement in Nigeria has lamented the cost of the commodity, compared to what obtains in other African countries.

Recall that on March 13, 2024, the House resolved to investigate the incessant increase in the price of cement following the adoption of the motion co-sponsored by Gaza Gbefwi (SDP, Nasarawa) and Ademorin Kuye (APC, Lagos).

On February 13, the Federal Government and cement manufacturers agreed to peg the price of a 50kg bag of cement between N7,000 and N8,000.

At the public hearing on the subject matter on Tuesday organized by the House Joint Committee in Abuja, the Chairman, House Committee on Solid Minerals, Gaza Gbefwi said there’s a need to address the situation, noting that in most African countries, the price of cement is lower compared to what obtains in Nigeria.

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He said, “Our findings showed that the price of cement is 69 per cent higher in Nigeria than in India, 39 per cent higher in Nigeria than in Zambia and 29 per cent higher than in Kenya given the official exchange rate.”

Speaking at the event, the Speaker, Abbas Tajudeen represented by the Deputy Speaker, Benjamin Kalu, assured the manufacturers that the public hearing was not intended to witch-hunt them but an avenue to prefer solutions to the challenges affecting the housing sector, particularly the high cost of cement across the country.

…Details later

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MediaFuse-Dentsu Nigeria boosts reading culture, sponsors Uyo book club reading session

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A leading integrated marketing communications network, MediaFuse-Dentsu Nigeria, has announced its sponsorship of the Uyo Book Club, a vibrant community of book lovers based in Akwa State, Nigeria.

The event, aligned with MediaFuse-Dentsu Nigeria’s commitment to fostering creativity and knowledge, will be held on Saturday,25th May from 4pm at Shakespeare’sn Hall, Watbridge Hotel and Suites, Opposite Ibom Hall, IBB Way, Uyo.

The Group Chief Executive Officer of MediaFuse-Dentsu Nigeria, Emeka Chris Okeke, described the sponsorship as another way of supporting initiatives that foster reading culture and promote literacy.

This is coming a few months after the company donated computers to Army Children Senior High School in Ikeja, Nigeria to empower students with the necessary tools for the digital age and improve their chances of success.

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He said, “MediaFuse-Dentsu Nigeria is excited to partner with the Uyo Book Club and help them continue to provide a platform for people to connect and explore the literary.

“At MediaFuse-Dentsu Nigeria, we believe in the power of stories to inspire and educate. We are committed to supporting initiatives that foster creativity, education, and community engagement.”

Responding to the sponsorship, the Founder and Father of the Book Club Initiative in Akwa Ibom State, Dr Udeme Nana, commended MediaFuse-Dentsu for sponsoring the book reading session.

He said, “Uyo Book Club, a community service initiative based in Akwa Ibom State, South-South Nigeria, seeks to bridge the yawning gap observed in the reading habit of Nigerians. We are delighted to have MediaFuse-Dentsu Nigeria on board in the mission to re-awaken the culture of reading and also promote it among Nigerians.”

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MediaFuse-Dentsu Nigeria is a leading integrated marketing communications agency, offering a comprehensive range of services including media planning and buying, creative and content development, digital performance, location services, and public relations. The agency is a member of the Dentsu International network, one of the world’s largest marketing communications groups with a presence in over 65 countries around the world.

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The Uyo Book Club is a platform for passionate readers to connect, discuss literature, and share their love of books. The club hosts regular meetings, author events, and other literary activities.

 

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