Category Archives: Economy

The GAC Motor All-New GS4 on 9th February 2023 won “Car-of-the-Year” at the NAJA annual awards ceremony held at the Oriental Hotel in Victoria Island, Lagos.

The event brought together key players from the Nigerian auto industry and media to celebrate the achievements of the nominees and recognize their contributions to the industry, while celebrating excellence and innovation across the entire auto value chain in Nigeria.

The All-New GS4 Hi-tech and Smart SUV stood out as the best of the best in the automotive industry, setting the bar for innovation and design.

The All-New GS4 model is a testament to GAC Motor’s commitment to providing cutting-edge technology and exceptional design to the Nigerian market. Equipped with advanced safety features, state-of-the-art entertainment systems, and a stylish exterior, the All-New GS4 offers a truly unparalleled driving experience.

The vehicle’s spacious interior, cozy seats, and quiet cabin has made it the perfect choice for long road trips and daily commutes.

“We are honored to receive this recognition from the Nigeria Auto Journalists Association. The GS4 model is the result of our commitment to delivering the highest quality vehicles to the Nigerian market.

“This award is a proof of our dedication to excellence and innovation in the automotive industry.” said Jubril Arogundade, GM Commercial and Group Head Communications, CIG Motors Nigeria, Distributor of GAC Motor in Nigeria.

GAC Motor has over the years advanced to a leading automotive brand in Nigeria, a subsidiary of the Guangzhou Automobile Group Co., Ltd. (GAC Group), one of China’s largest automakers, GAC Motor remains dedicated to providing innovative and reliable vehicles to the Nigerian market and is committed to improving the quality of life through sustainable mobility solutions.

… Threatens to Go to Courts over any attempt to Sell

Coalition of Civil Society members have formed a group under umbrella of the Movement Against Privatization(MAP) to resist the sale of Nigerian National Petroleum Company Limited and other National assets by any government .

According to group, since the idea of selling national assets ,such as: NITEL , National Fertilizer,NEPA , Steel companies and several others didn’t favoured the ordinary Nigerians and masses in past, there should be no reason to consider selling for now .

The group, which threatened to mobilise Nigerians if any government decides to consider selling NNPC, said it’s not only prepared to mobilise Nigerians should there be any attempt to sell public assets ,but also vowed to go to court and stop it.

In a press statement signed by the Secretary General, Usman Dabo,the group said part of the reasons for coming together to form the group is to ensure that it protects innocent Nigerians from being deceived or hoodwinked to believe that Privatization of public assets is the only solution to effective production and adequate supply of Premium Motor Spirit (PMS) otherwise known as Petrol.

The statement further reads : “We formed the Movement Against Privatization because cannot afford to adopt a “Siddon-Look’ approach and watch our sensitive companies that touch live of Nigerians in almost all ramifications to be out sold under any guise by selfish politicians and their cronies.

“No sensitive leader and government will consider selling a critical national oil company ,such as NNPC limited especially, considering the monopoly of price involved in such companies .

“We have watched and listened to all the presidential candidates and observed that most of the Presidential candidates appeared to be talking in favour of privatisation and this we would vehemently resist.”

It however described as unfortunate , that the situation ,where the crop of Presidential candidates are not talking about creating policies that will encourage both local and international investors to invest in building new refineries.

Stressing ,”This is why we crying out loud now to anyone that will succeed President Muhammadu Buhari to know early enough that this movement is out to resist any attempt to auction NNPC and other public assets.

“We have put up structures across the 36 States of Nigeria , including the Federal Capital Territory,Abuja to mobilise Civil Society Organizations, Traders , Students and other Nigerians to return the street for mother of all protest,if there is any government that mutes the idea sale of public assets .”

Meanwhile, the Group which threw its weight behind complete removal of subsidy disclosed, “We have set up a special unit to begin a process of Sensitisation with a clear message of “Don’t Sell NNPC” in particular ,but open Windows for individuals to invest in private refineries, so doing, there would be opportunities to tackle the problem of perennial scarcity ; Create employment , transfer technology , expand scope of industrial growth and development .

“This group insist that whoever wins the elections should leave the existing refineries to operate as a government entity and create policies that will be friendly to investors” .

Supply of Rice : Contractor Writes Open Letter to Zamfara Governor over Non-payment of Money

…Says His Life in Danger over Loan Collected for the Supply

The Managing Director of SOA Alkawari Nigeria Limited,Mr Samuel Olugbenga Asegun has sent an “Save Our Soul” open letter to the Governor of Zamfara State, Alhaji Bello Muhammad Matawalle urging him to order Ministry of Finance and Ministry of Local Government and Development to pay the protracted rice subsidy payment .

According to him ,the long overdue rice subsidy payment receivable from
the State Government’s Civil Servants Welfare Scheme executed in June,
2020 has put his life in danger .

His words:”Currently, the life of our Managing Director is seriously in danger as a result of constant hard pressures and foreclosure threats by our lenders simply because your Government has refused to pay us per the agreed terms. We have been treated very unfairly and made to Suffer huge losses unjustly”.

“It is almost 3 years now after the completion of the said supply during
which time we have waited painfully, lobbied extensively and pushed hard
for the payment of the promised subsidy without getting our payment. “

In the open letter with title: OPEN LETTER /SOS TO ZAMFARA STATE GOVERNOR HIS EXCELLENCY BELLO MUHAMMAD MATAWALLE – Samuel Olugbenga Asegun ,he said, “Under the approval of your Excellency, in June 2020, we were awarded a
supply contract by the Directorate of Labour Matters. Irrevocable Payment
Guarantees were issued to us by Zamfara State’s Head of Civil Service,
Ministry of Finance and Ministry of Local Government and Community
Development.

“The payment terms of the referenced contract provided that Zamfara State
Government will pay N5,000 per bag on behalf of all benefitting Civil
Servants while the benefitting Civil Servants would pay N14,000 per bag
via salary deduction. We were assured by the Special Adviser to the Governor on Labour Matters that the agreed subsidy shall be paid to us immediately after our delivery of the rice contracted to us since, according to him, the State Government had provided funds for the payment of the
subsidy.

“Trusting on the integrity of your Government, we proceeded to take a 120-days loan from Capitalfield Financial Management Limited to enable us
execute the said rice supply.”

“We therefore appeal to your Excellency to order an immediate release of
our overdue subsidy payments while we hope you will kindly redress this
injustice by your necessary action.

“It is our hope that we won’t need to seek for a legal redress to demand our due payments and the huge losses we have suffered as a result of the delay cum refusal to fulfill your Government’s contractual obligation to us.

…Read details of the full letter

OPEN LETTER /SOS TO ZAMFARA STATE GOVERNOR HIS EXCELLENCY BELLO MUHAMMAD MATAWALLE – Samuel Olugbenga Asegun

We, SOA ALKAWARI NIG LTD, hereby write this open letter to you, Sir,
the Zamfafa State Governor, His Excellency Bello Muhammad Matawalle,
pleading that you should kindly order both the Ministry of Finance and the
Ministry of Local Government and Community Development, to
immediately release our long overdue rice subsidy payment receivable from
the State Government’s Civil Servants Welfare Scheme executed in June,
2020.

Under the approval of your Excellency, in June 2020, we were awarded a
supply contract by the Directorate of Labour Matters. Irrevocable Payment
Guarantees were issued to us by Zamfara State’s Head of Civil Service,
Ministry of Finance and Ministry of Local Government and Community
Development.

The payment terms of the referenced contract provided that Zamfara State
Government will pay N5,000 per bag on behalf of all benefitting Civil
Servants while the benefitting Civil Servants would pay N14,000 per bag
via salary deduction. We were assured by the Special Adviser to the Governor on Labour Matters that the agreed subsidy shall be paid to us immediately after our delivery of the rice contracted to us since, according to him, the State Government had provided funds for the payment of the
subsidy.

Trusting on the integrity of your Government, we proceeded to take a 120-days loan from Capitalfield Financial Management Limited to enable us
execute the said rice supply.

Furthermore, we had decided to support your new administration in executing this Staff Welfare Scheme while risking our own lives by defying the then ravaging Covid 19 and the rampancy of banditry in and around Zamfara State.

Sir, it is almost 3 years now after the completion of the said supply during
which time we have waited painfully, lobbied extensively and pushed hard
for the payment of the promised subsidy without getting our payment.

Your Excellency, the refusal of your Government to pay the subsidy per the
term of the said contract has totally crashed the business of our small
company while our loan balance with the lenders has grown more than thrice the amount of the original loan we actually took due to accumulated monthly interest and daily default penalty. Sadly, our lenders are now in the process of foreclosure on the collateral pledged for the loan while our company promoters currently live under untold pressure and debilitating stress.