Flowerbud News

Author: Salisu Sani-Idris

  • Insurance Brokers Council admits Ilori, Igbiti, 48 others as fellows

    Insurance Brokers Council admits Ilori, Igbiti, 48 others as fellows

    By Taiye Olayemi

    Nigerian Council of Registered Insurance Brokers (NCRIB) has admitted the president of the Chartered Insurance Institute of Nigeria (CIIN), Mrs Yetunde Ilori, her predecessor, Mr Edwin Igbiti, and 48 others into its Society of Fellows.

    The council also honoured the Akarigbo of Remoland, Oba Babatunde Ajayi, and Dr Onikepo Akande for their support to NCRIB and the practice of insurance broking in Nigeria.

    Speaking at the Fellowship Day, on Thursday, Mr Babatunde Oguntade, President of NCRIB enjoined the new entrants to demonstrate high level of professionalism and assist in taking the brokering profession to higher heights.

    Oguntade, in a statement, said that the process that led to the admission of the new fellows was quite stringent, as the candidates were considered on the basis of professional qualifications, integrity and leadership traits, among other criteria.

    He reminded the newly inducted fellows of their responsibilities as they embark on their new roles.

    Oguntade said these responsibilities included protecting the council’s image, contributing to its professional growth and development, and attending NCRIB events whenever possible.

    The president also highlighted contemporary issues affecting insurance broking, particularly the Nigerian Insurance Industry Reform Act (NIIRA 2025).

    “This legislation has opened up new opportunities for insurance growth, deepened insurance penetration, and renewed customer experience and confidence,” he said.

    He emphasised that members must be more creative and adhere to ethical and professional standards.

    Oguntade noted that NAICOM and FIRS laws were becoming more stringent for members, and added that it was essential to stay compliant.

    Other regulatory responsibilities were also discussed, including data protection laws and compliance with the Nigerian Financial Intelligence Unit (NFIU) to enhance Nigeria’s exit from the gray list.

    Also speaking at the event, Chairman, Board of Fellows, Mrs Laide Osijo, highlighted the significance of the fellowship cadre, which represented the highest echelon of the council.

    She added that members of the esteemed group were experienced, seasoned, and versatile professionals who had made significant contributions to the profession.

    “The Fellowship cadre is not only prestigious but also comes with great responsibilities, requiring its members to rise above the ordinary level.

    “This is in terms of professionalism, adherence to ethical standards, and possession of greater leadership skills,” she said. (NAN) (www.nannews.ng)

  • China reiterates commitment to Africa’s development

    China reiterates commitment to Africa’s development

    By Taiye Olayemi and Busayo Onijala

    The Consul General of the People’s Republic of China in Lagos, Ms Yan Yuqing, has said that China will remain committed to strengthening cooperation with Africa in the face of global instability.

    Yuqing stated this on Monday in Lagos at a reception to commemorate the 76th anniversary of the founding of the People’s Republic of China and the 65th independence anniversary of Nigeria.

    She reaffirmed China’s African policy anchored on sincerity, real results, amity and good faith, as well as the pursuit of the greater good and shared interests.

    The envoy said China would continue to deepen practical cooperation, strengthen strategic coordination, jointly address global challenges and make greater contributions to the development of the global South.

    Yuqing commended members of the Chinese community within her consular district for their role in advancing China-Nigeria friendship through investments, job creation and cultural exchanges.

    “With the vigorous promotion of the Chinese Consulate General in Lagos, local exchanges, economic and trade cooperation and people-to-people engagements have become increasingly vibrant.

    “In collaboration with Chinese enterprises and academic communities, we have continued to advance the ‘Renewed Hope, Rebirth from the Light’ public welfare initiative.

    “This initiative reflects China’s contribution to Nigeria’s poverty alleviation and hunger eradication efforts,” she said.

    She explained that the Consulate was guided by the principle of “diplomacy for the people,” working closely with Nigerian authorities to safeguard the legitimate rights and interests of Chinese citizens and institutions in the country.

    The consul general also expressed hope for greater cultural exchanges, saying: “We look forward to more Nigerian friends learning about China, visiting China and falling in love with China.”

    Also speaking, the Deputy Governor of Lagos State, Dr Obafemi Hamzat, congratulated the President and people of China on the occasion of the country’s 76th National Day celebration.

    Hamzat said that Lagos cherished its long-standing relationship with China, which had produced partnerships across key sectors such as infrastructure, manufacturing, technology and trade.

    According to him, these collaborations have contributed significantly to building a resilient and competitive Lagos.

    He recalled joint ventures between Chinese investors and the Lagos State Government, noting that such initiatives had generated jobs, fostered industrial growth and strengthened cultural and economic ties between both sides.

    Hamzat said the state looked forward to expanding cooperation in areas such as green energy, smart city development, capacity building and cultural exchanges to promote sustainable development.

    The deputy governor emphasised that Lagos drew inspiration from China’s remarkable transformation and would continue to nurture mutual respect and shared prosperity in its dealings with China.

    The Speaker of the Lagos State House of Assembly, Mr Mudashiru Obasa, commended China’s leadership role in maintaining global peace.

    Obasa said that China had been able to maintain peace by consistently advocating sovereign international conflict resolution through peaceful methods such as negotiations, consultations and dialogue rather than military intervention.

    He urged the government of China to continue its efforts toward ensuring the world becomes a more habitable and peaceful place for all.

    Also, Mr Jafaru Yakubu, Chairman of the House of Representatives Committee on China-Nigeria Relations, expressed the 10th Assembly’s commitment to strengthening China-Nigeria ties.

    He said this would be achieved through sustained legislative support, parliamentary diplomacy and policy innovation.

    “Let us continue to draw strength from our diversity, wisdom from our shared experiences, and hope from our common aspirations,” he said. (NAN)(www.nannews.ng)

  • Champion Breweries unveils capital raise plans to boost growth

    Champion Breweries unveils capital raise plans to boost growth

    By Taiye Olayemi

    Champion Breweries Pl says it plans to embark on a three-phase capital raise plan to boost expansion and drive profitability.
    Its Managing Director, Dr Inalegwu Adoga, made the disclosure on Monday in Lagos during the company’s “Fact Behind the Figures’’ presentation at the Nigerian Exchange Ltd. (NGX).
    Adoga, who outlined the company’s growth strategy and sustainability agenda, said the programme would be executed through public offer and rights issues, debt capital raise, and strategic acquisitions.
    He said in view of the company’s acquisition of an energy drink, the rights issue was neccesary to aid its expansion.
    Adoga explained that under the first phase, Champion Breweries would raise up to N42 billion through a public offer of new shares to the general public.
    He added that the company would also undertake a rights issue to its existing shareholders with a target of up to N16 billion.
    “The proceeds will be used for the strategic acquisition of bullet, and to meet working capital requirements,” he said.
    The second phase, Adoga noted, involved a debt capital raise through a bond issuance.
    “We plan to establish a N45 billion bond issuance programme and issue a N30 billion five-year unsecured Series 1 Bond,” he said.
    He explained that proceeds from the bond would be channelled into investments in business resources such as returnable packaging materials, enterprise resource planning systems, other software applications, and capital expenditure expansion.
    The third phase, he said, focused on acquisition.
    “The company is pursuing the acquisition of a target beverage asset holding company.
    “This will enable Champion Breweries to scale, inorganically grow its offerings, expand footprint, and enhance earnings,” he said.
    Adoga assured shareholders and stakeholders that the programme was designed to position the company for long-term growth and competitiveness in Nigeria’s beverage industry.
    Earlier, Mr ImoAbasi Jacob, Chairman of Champion Breweries, said the company was investing in a sustainability strategy focused on delivering positive impact.
    “We are investing significantly in transitioning the entire brewery to solar power, with battery and gas backup.
    “The team is also evaluating opportunities to convert diesel trucks to run on compressed natural gas (CNG).
    “We are also making significant investments in sustainable water treatment to ensure access to clean water while minimising environmental impact.
    “We have reduced the amount of plastic waste arising from the company, thereby cutting down significantly on plastic bottles,” he said.
    Giving an account of the company’s financials for the first half of the year, Mr Rasheed Adebiyi, Chief Financial Officer of Champion Breweries, said the company recorded a 111 per cent growth in gross profit from N3.73 billion in 2024 to N7.89 billion.
    He said revenue also grew by 67 per cent, from N9.54 billion to N15.93 billion.
    Also speaking, Mr Jude Chiemeka, Managing Director of the NGX, commended Champion Breweries for its responsible business practices.
    Chiemeka said that the company’s market capitalisation had risen to N145 billion and that it had paid N8.26 billion in dividends to shareholders from 2021 to 2024.
    He added that the company also paid N2.4 billion in taxes to the federal government within the same period. (NAN) (www.nannews.ng)

  • Nigeria, China deepen ties at joint independence, national day celebration

    Nigeria, China deepen ties at joint independence, national day celebration

    By Taiye Olayemi

    Nigeria and China on Sunday reaffirmed their commitment to stronger ties as both nations jointly marked Nigeria’s 65th Independence anniversary and China’s 76th National Day.

    The colourful celebration, which also coincided with the Mid-Autumn Festival, brought together government officials, diplomats, business leaders, cultural groups and students in Lagos.

    Chairman of the House Committee on Nigeria-China Relations, Mr Jaafaru Yakubu, hailed China’s Consul General in Lagos, Ms Yan Yuqing, for elevating bilateral relations.

    He described her as “a true friend of Nigeria,” praising her role in facilitating business partnerships, scholarships for students and cultural exchanges strengthening people-to-people ties.

    Yakubu also lauded Dr Eric Ni, Chairman of the China Industrial and Commercial Enterprise Association, for championing business collaboration that created jobs, encouraged technology transfer and supported community development.

    “Chinese companies in Nigeria have not only contributed to infrastructure development but also prioritised local content and sustainable growth,” Yakubu said.

    He urged deeper collaboration in renewable energy, the digital economy, healthcare and agriculture, while calling on China to expand educational opportunities for Nigerian and Chinese students.

    Representing the Federal Ministry of Industry, Trade and Investment, Dr Simon Omo-Ezomo said cooperation with China aligned with President Bola Tinubu’s Renewed Hope Agenda.

    He noted that the agenda prioritises industrialisation, diversification and job creation, offering Nigeria and China a platform to achieve shared prosperity through mutual economic engagement.

    Ni encouraged the Chinese community to contribute positively to Nigeria’s development while celebrating the enduring bonds of friendship between the two countries.

    “This unique convergence represents the harmony between China and Nigeria, two nations with rich histories, bright futures and growing friendship,” he said.

    The event featured vibrant cultural performances by the Hauxing Arts Troupe, Lagos State Council for Arts and Culture, Overseas Chinese performers and other groups. (NAN) (www.nannews.ng)

  • Local entrepreneurs bag N600m deal at Nigeria international lighting exhibition

    Local entrepreneurs bag N600m deal at Nigeria international lighting exhibition

    By Taiye Olayemi

    The 2025 Nigeria International Lighting Exhibition has ended in Lagos, with on-site transactions exceeding N600 million and fresh commitments to deepen China-Africa cooperation in lighting and energy.

    The exhibition, with the theme ‘Zero-Carbon Lighting: Supporting Nigeria’s Energy Transition Goals,’ was held from Wednesday, Sept. 17 to Friday, Sept. 19 in Lagos.

    Ms Lisa Lin Xueying, General Manager of Zhongshan Company Ltd., organisers of the expo, said the exhibition attracted over 100 global enterprises alongside several local firms.

    She said over 3,000 professional attendees witnessed the signing of landmark agreements between local and foreign companies during the two-day event.

    According to her, VellMax and Solar-Sunbest Integrated Services Ltd signed an intent order valued at N100 million.

    She added that MXS Home, Buchi Lighting, Great Future, Cieto Lighting, De Solid Vision and De King entered long-term partnerships estimated at N500 million annually.

    Describing the outcome as phenomenal, Xueying said it had positioned Nigeria as a hub for Africa’s lighting industry.

    She noted that the development had transformed China-Africa lighting cooperation “from blueprint to reality.”

    “The deals signed with local entrepreneurs will further open Nigeria’s lighting and energy sector,” she said.

    Xueying stated that the West Africa-exclusive exhibition set records in commercial value, technological empowerment, knowledge sharing, and innovation over the past three days.

    She revealed that more than 20 exhibitors showcased products ranging from smart lighting solutions to off-grid photovoltaic systems, highlighting technology’s role in lighting up Africa.

    According to her, ten thematic forums were held on tax policies, professional standards, and investment opportunities, guiding firms planning operations in Nigeria.

    She expressed gratitude to exhibitors, describing the event as “a beacon for Africa, lighting up Lagos with technological innovation.”

    Looking ahead, Xueying announced plans to establish the Africa Lighting Industry Alliance and the China-Africa Technology Transfer Centre in 2026.

    She added that the 2026 edition of the exhibition would hold in Lagos from Sept. 16 to Sept. 18.

    Commending the organisers, Mr Anthony Ifeanyi, Chief Executive Officer of Cieto Lighting, said he secured a distributorship deal worth N100 million.

    “I appreciate the organisers of this expo and pray it continues, enabling more local entrepreneurs to benefit,” Ifeanyi said.

    Also, Mr Agochukwu Elijah, Managing Director of MXS Home, said the event provided a long-awaited opportunity to expand his business.

    Earlier, Chief Casmir Emenine, President of Lagos Island Electrical Dealers Association, stressed that the expo went beyond showcasing lamps and fixtures.

    He said it demonstrated how technology and creativity intersect to shape experiences, moods, and possibilities.

    According to him, lighting often connects with architecture, interior design and artificial intelligence, enhancing comfort, safety, and functionality. (NAN) (www.nannews.ng)

  • Nigeria International Lighting Expo opens in Lagos with 120 exhibitor

    Nigeria International Lighting Expo opens in Lagos with 120 exhibitor

    By Taiye Olayemi

    The 2025 Nigeria International Lighting Expo opened in Lagos on Wednesday, bringing together more than 120 exhibitors to showcase zero-carbon innovations reshaping the future of lighting technology.

    The three-day event, holding from Sept. 17 to Sept. 19 at the Landmark Centre, Victoria Island, attracted industry stakeholders, investors, and government officials seeking opportunities in Nigeria’s growing energy efficiency market.

    Lisa Lin Xueying, General Manager of the organising committee, said the expo was spotlighting cutting-edge technologies designed to make lighting greener, smarter, and more people-centred.

    Xueying, who also heads Zhongshan Company Ltd., explained that products on display included solar-powered lamps that store energy for self-use and smart lighting systems with adaptive brightness controls.

    She said the expo’s theme, ‘Zero-Carbon Lighting: Supporting Nigeria’s Energy Transition Goals,’ aligned with the country’s urgent development needs and its drive towards a sustainable energy future.

    According to her, the programme also features expert forums, keynote sessions, and matchmaking events to help enterprises connect with international opportunities and tackle industry challenges.

    “We have over 120 exhibitors from home and abroad. Light symbolises wisdom and hope, brightening spaces and reshaping experiences,” Xueying said.

    She added that lighting technology was undergoing a dramatic transformation, from LED advances to the rise of smart systems, expanding its role in modern life.

    Xueying also noted that synergy between China’s Belt and Road Initiative and Nigeria’s Renewed Hope agenda had opened fresh avenues for cooperation.

    Ms Yan Yuqing, Consul General of the People’s Republic of China, projected Africa’s lighting market to sustain strong growth, particularly in LED products, smart systems, and solar-powered devices.

    She said Nigeria’s economic expansion, accelerating urbanisation, and infrastructure upgrades were driving increased demand for advanced, energy-efficient lighting solutions.

    According to her, consumers are shifting from basic lighting functions towards intelligent, customised systems that enhance quality of life.

    She added that West Africa’s heavy investment in power grid upgrades and green energy projects was providing solid support for the industry’s expansion.

    Yuqing described the expo as a platform for deepening trade relations while encouraging innovation and wider cooperation between Chinese and African enterprises.

    “Looking ahead, we must deepen our economic ties while broadening exchanges and mutual learning on global challenges,” she said.

    She urged entrepreneurs to harness their expertise to advance sustainable growth and strengthen China-Africa relations.

    Mr Biodun Ogunleye, Lagos State Commissioner for Energy and Mineral Resources, described the event as a marketplace for collaboration and knowledge sharing.

    He said the Lagos government was supporting households and small businesses with solar power, but called on stakeholders to help realise a 24-hour powered economy.

    Yi Hon Ehab Sefeen, Chairman of Shinning Star Global Smart Technology Group, commended the organisers for a successful event.

    He noted that Chinese investors were not only tapping Nigeria’s energy opportunities but also committed to contributing to the nation’s growth. (NAN) (www.nannews.ng)

  • Afro-Asian community celebrates Narendra Modi at 75

    Afro-Asian community celebrates Narendra Modi at 75

    By Taiye Olayemi

    The Afro-Asian Community has congratulated India’s Prime Minister, Narendra Modi, on his 75th birthday, describing him as “reformist leader with far-reaching vision.”

    Mr Sanjay Srivastava, the President of the Afro-Asian Community and Founder of the Overseas Friends of Bharatiya Janata Party (OFBJP), Nigeria Chapter said in a statement on Wednesday that Modi’s leadership had transformed India and strengthened partnerships across Asia and Africa.

    Srivastava praised Modi’s special sentiments toward Africa, citing his role in securing the African Union’s (AU) permanent seat at the G20.

    He added that “the Afro-Asian Community congratulates Prime Minister Modi on his landmark 75th birthday, we identify with him as a reformist who has redefined governance and diplomacy.

    “His policies reflect inclusiveness and global solidarity.

    “PM Modi’s birthday is not only a celebration of his life but also of the virtues he stands for — good governance, compassion and global inclusivity.

    “His commitment to Nigeria through crude oil trade and his vision to include the African Union in the G20 reflect his larger mission of justice and equity in world affairs.”

    According to Srivastava, India experienced remarkable progress in digital innovation, infrastructure development, social welfare and women empowerment.

    He said Modi’s governance style was anchored on transparency, accountability and people-centered policies which earned him recognition and respect at home and across the developing world.

    Also, Pravin Kumar, Secretary of the Afro-Asian Community, lauded Modi’s commitment to Africa, noting his encouragement for India to buy crude oil from Nigeria, which had bolstered trade and energy ties.

    Kumar commended Modi’s role in strengthening Afro-Asian cooperation and advancing global partnerships. (NAN)(www.nannews.ng)

  • AXA Mansard extends “Hearts in Action” Initiative with free healthcare in Iwaya

    AXA Mansard extends “Hearts in Action” Initiative with free healthcare in Iwaya

    By Taiye Olayemi

    AXA Mansard Health has strengthened its commitment to community well-being with a free medical outreach to residents of Iwaya, Yaba, Lagos, offering vital health services to hundreds of people.

    The initiative, held at the end of August, formed part of the company’s flagship “AXA Hearts in Action” programme a cornerstone of its corporate social responsibility strategy aimed at bridging gaps in healthcare access.

    During the exercise, AXA Mansard Health’s medical team and volunteers delivered on-the-spot consultations, blood pressure checks, malaria testing, and other diagnostic services.

    Essential medications were dispensed, while patients received guidance on disease management and maintaining healthier lifestyles.

    Chief Executive Officer of the company, Tope Adeniyi said the outreach reflects the firm’s mission to extend care beyond policy documents and into communities most in need.

    “Bringing healthcare services directly to people like those in Iwaya allows us to make a real difference where it matters most.

    “This is not just CSR for us; it’s embedded in our DNA as a company determined to help people live better lives and build lasting relationships with communities,” he said.

    The leadership team including Dr Jadesola Idowu, Chief Operating Officer; Olamide Lawal, Head of Medical Services; and Adebola Surakat, Chief Marketing Officer joined staff and volunteers in delivering care, underscoring the insurer’s hands-on approach to social impact.

    Dr Idowu stressed that the project aligns with AXA Mansard’s wider ambition to close healthcare gaps for underserved groups.

    “Healthcare should be accessible to everyone, regardless of socio-economic status.

    “By reaching communities like Iwaya, we empower people with tools to thrive,” she said.

    Surakat added that the outreach is helping nurture a culture of empathy within the organisation.

    “This is more than a CSR exercise; it’s a movement. Our people are inspired to step forward, give their time, and support those who need it most,” he said.

    Residents and community leaders expressed appreciation for the effort, noting its value at a time when economic pressures make access to quality healthcare difficult.

    Beyond addressing immediate health needs, the programme strengthened trust and created a sense of solidarity between the insurer and the community.

    AXA Mansard Health says the Iwaya initiative is part of a wider effort to deliver sustainable impact across Nigeria through consistent engagement and strategic partnerships.

    The company reaffirmed its commitment to protecting what matters most by building healthier, more resilient communities nationwide.

  • UK partners Odyssey to accelerate mini-grid deployment across Nigeria

    UK partners Odyssey to accelerate mini-grid deployment across Nigeria

    By Taiye Olayemi

    British International Investment (BII), the UK’s development finance institution and Odyssey Energy Solutions have inaugurated a financing facility aimed at accelerating electricity mini-grid deployment across Nigeria.

    This is according to a statement by BII in Lagos, on Wednesday.

    According to the statement, this new facility was coming at a critical time, as Nigeria ramps up its mini-grid ambition under the Distributed Access through Renewable Energy Scale-Up (DARES) programme, backed by the World Bank.

    The statement said with DARES endeavouring to improve energy access for 17.5 million Nigerians, the demand for streamlined procurement and innovative financing was more urgent than ever.

    It said the new facility had the potential of scaling up to meet the demand generated by the DARES programme by partnering with a growing network of qualified developers and suppliers.

    The statement noted that these sort of partnerships would accelerate project execution and reduce time for electrification.

    The statement reads, “With $7.5 million funding from BII, the facility leverages Odyssey’s proprietary procurement platform and supply chain credit solution to support mini-grid developers.

    “The finance will be deployed to support Nigeria’s DARES programme, backed by the World Bank, which aims to improve energy access for 17.5 million Nigerians.

    “Specifically, Odyssey works to bridge the gap between commitment and disbursement of DARES connections-based subsidies by addressing the financing bottleneck of upfront costs such as acquiring equipment and import duties.

    “Through this offering, developers can procure high-quality solar and energy storage equipment with minimal upfront capital, paying back as projects reach revenue-generating milestones.

    “This provides some key benefits for Nigerian solar companies including competitive pricing through aggregated procurement; flexible payments, improving working capital, faster procurement cycles and accelerating deployment timelines.

    “It will also provide end-to-end logistics support, from customs to last-mile delivery and high-quality, vetted equipment, ensuring system reliability.”

    The British Deputy High Commissioner in Lagos, Mr Jonny Baxter, said that BII had demonstrated its confidence in Nigeria’s clean energy sector through its strategic investments.

    “This is a signal that opportunities for the private sector to drive forward the renewable energy revolution in Nigeria and across Africa are growing.

    “UK finance is playing a pivotal role by helping to unlock green growth and establish Britain as a credible global partner on climate action in line with our Enhanced Trade and Investment Partnership (ETIP) with Nigeria,” Baxter noted.

    Also, Benson Adenuga, West Africa Regional Director at BII, said that about 90 million people in Nigeria did not have access to electricity.

    “Mini-Grids powered by clean and affordable energy sources have a vital role to play in rapidly reducing that number.

    “I am delighted that BII is partnering with Odyssey to accelerate the development of such projects.

    “BII has demonstrated a progressive and practical approach to unlocking financing challenges in distributed energy,” Adenuga said.

    Piyush Mathur, Co-Founder and Managing Director of Odyssey Energy Solutions said, “Their support allows us to offer flexible, affordable financing options that meet developers where they are.

    “This ensures that we can collectively accelerate electrification across Nigeria.”