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Akwa Ibom First Lady Empowers Mothers of Multiple Births, Grants Stipends

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In a heartwarming initiative, mothers of multiple birth children across Akwa Ibom State’s 31 Local Government Areas are set to receive monthly stipends as part of an empowerment program led by the state’s First Lady, Pastor Patience Umo Eno.

The stipends amount to fifty thousand naira each for twins and one hundred thousand naira each for triplets, aiming to alleviate the financial burden of caring for multiple birth children.

The announcement was made during the empowerment program for mothers in Ikot Ekpene Senatorial District held at the Ikot Ekpene Town Hall on Friday, January 19, 2024. Pastor Patience Umo Eno emphasized her commitment to supporting families in the state and expressed her joy in celebrating the blessings of multiple births.

Addressing the mothers, the First Lady urged them to cherish and care for their children, considering them as blessings from God. She pledged continuous support to families and highlighted the positive impact that multiple birth children can bring to their lives.

The Chairman of the Transition Committee, Ikot Ekpene Local Government Council, Mr. John Etim, commended the First Lady for the consistent implementation of the program, describing the Umo Eno administration as impactful and people-driven. He assured continued support from the people of Ikot Ekpene to achieve the ARISE Agenda.

Goodwill messages were received from various dignitaries, including Mrs. Utibe Etim, the wife of the Transition Chairman of Ikot Ekpene Local Government Council, and Hon. Inibehe Silas, the President of the Ikot Ekpene Senatorial District Women Forum. They lauded Pastor Patience Umo Eno for her support to mothers of multiple birth children, acknowledging the relief provided in the face of economic challenges.

The event concluded with the distribution of baby packs and cash to the beneficiaries by the Governor’s Wife and other female stakeholders. Excited beneficiaries expressed gratitude for their inclusion in the empowerment program, considering it a significant relief. They offered prayers for God’s blessings on Pastor Patience Umo Eno for her labor of love and generosity.

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Economy

UBA Records Impressive 110% Surge in Gross Earnings

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Solid Start to 2024, UBA Consolidates Gains as Gross Earnings Rise by 110%, Profit for [Quarter] Hits N156bn – delivering a YoY growth of 165%

United Bank for Africa Plc (UBA), Africa’s Global Bank, released its financial results for the first quarter ended March 31st, 2024, showing very strong growth across key performance measures.

The Group’s results, which were released to the Nigerian Exchange Limited (NGX) on Friday May 3rd, 2024, saw outstanding year-on-year increases: Gross Earnings rose by 110%, from N271.1billion to N570.2 billion; Interest Income grew by 130%, to N440.7 billion.  Operating Income increased by 115%, from N175.7 billion in 2023, to N378.59 billion.

Further consolidating the record performance delivered in the Group’s 2023 Full Year Audited Financials, UBA again saw Profit Before Tax rising significantly by 155% from N61.7 billion in Q1 2023, to N156.34 billion in Q1 2024; while Profit After Tax jumped from N53.5 billion to N142.5 billion, representing an impressive rise of 165% year-on-year.

Commenting on the results, UBA’s Group Managing Director, Oliver Alawuba, said the Group delivered strong first quarter performance, building on the solid momentum of 2023, as well as the ongoing execution of its long-held strategy of customer focus, geographic diversification and effective risk management and governance.

He said, “Our record Q1 profit before tax was delivered with triple digit gross earnings growth, supported by very strong interest and non-interest income. Fees and Commissions rose by 118% year-on-year on the back of improved efficiencies and continued digital adoption.  This has helped drive improvement in efficiency and customer satisfaction, with the Group’s cost-to-income ratio held at 57.8%.”

“The Group’s balance sheet grew steadily with Total Assets increasing by 23% to N25.4 trillion. Customer deposits closed at N18.4 trillion, recording a 23% increase year-on-year, largely attributed to growth in current accounts and savings accounts.”

“Our unwavering commitment to sound governance, robust risk management, and financial strength positions us for continued growth, while we contribute meaningfully to inclusive economic development across our network.”

Also speaking on the performance, UBA’s Executive Director, Finance and Risk, Ugo Nwaghodoh, said the Group’s operating results for the quarter showed the actions taken to enhance the Group’s performance continued to deliver.

He said, “Our first quarter results highlight our relentless customer focus and the strength of UBA’s geographic and product diversification, with good performance across all our regions.  We continue to differentiate ourselves across all key financial metrics, with a keen focus on high-quality risk adjusted revenues and cost discipline, while maintaining very sound asset quality.“

“We remain committed to reducing both interest expense and operating expenses and expect to make steady progress as we move through the year toward our stated profitability targets,” Nwaghodoh stated.

United Bank for Africa Plc is a leading Pan-African financial institution, offering banking services to more than twenty-five million customers, across over 1,000 business offices and customer touch points, in 20 African countries and across 4 continents.

With presence in the United States of America, the United Kingdom, France and the United Arab Emirates, UBA connects people and businesses across Africa through retail; commercial and corporate banking; innovative cross-border payments and remittances; trade finance and ancillary banking services.

 

 

 

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Economy

Akwa Ibom State Partners with Bertola Machine Tools Limited to Boost Food Production

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Akwa Ibom State has announced plans to collaborate with Bertola Machine Tools Limited to enhance food production in the state through mechanized farming, aligning with the agricultural revolution goals of the state government’s ARISE Agenda.

Governor Umo Eno revealed this during a visit to the premises of Bertola Machine Tools Limited located at Ifa Atai, Airport Road, Uyo, where he conducted a facility tour and inspected purpose-built machines and tools for agricultural activities over the weekend.

Governor Eno emphasized the significance of the partnership, stating that as part of the state government’s efforts to achieve food sufficiency, plans were underway to establish equipment leasing services to make essential machines available and accessible to farmers. He praised Bertola as a reliable partner in this endeavor.

Acknowledging Bertola’s longstanding reputation for integrity and consistency in the equipment and machinery industry across the nation, Governor Eno commended the company’s commitment to excellence over the years.

The governor directed the Commissioner for Agriculture, Dr. Offiong Offor, and her counterparts in Works and Fire Service, Professor Eno Ibanga, to collaborate on developing modalities for the government’s partnership with Bertola Machine Tools Limited, ensuring that farmers in the state have access to machines for basic farm operations.

In his remarks, Albert Inyang, the Managing Director and Chief Executive Officer of Bertola Machine Tools Limited, commended Governor Eno for his genuine commitment to improving the lives of the people of Akwa Ibom State through impactful projects and programs.

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Economy

Governor Umo Eno Urges Akwa Ibom Residents to Prioritize Farming Amid Economic Hardship

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Governor Umo Eno of Akwa Ibom State has encouraged residents to embrace farming as a means to achieve food sufficiency and alleviate the prevailing economic challenges.

The governor made this call on Thursday during a meeting with the leadership of the Christian Council of Nigeria (CCN) at the Government House in Uyo.

Highlighting the importance of widespread agricultural engagement, Governor Eno emphasized that increased participation in farming activities would help mitigate the current economic difficulties faced by the populace.

He attributed the ongoing economic hardship to the historical neglect of the agricultural sector, stressing the need for concerted efforts to revitalize it.

Governor Eno disclosed plans by the Akwa Ibom government to establish a Bulk Purchase Agency aimed at stabilizing commodity prices and alleviating the economic burden on citizens.

He underscored the necessity for a collective shift in lifestyle choices, advocating for farming as a viable option regardless of social class.

Asserting that the current economic challenges were not accidental but a consequence of longstanding neglect, Governor Eno urged Nigerians to refrain from blame games and instead focus on practical solutions.

Additionally, the governor urged citizens to exercise patience with the government and uphold prayers for leaders, as mandated by religious scriptures.

Expressing gratitude, Governor Eno welcomed the leadership of the CCN for selecting Akwa Ibom as the venue for their National Executive Council meeting.

In his earlier remarks, CCN President David Onuoha mentioned that the team was in the state for a National Executive Council (NEC) meeting.

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