Business

FG Enhances Water Safety with Donation of 3,500 Life Jackets to Ogun Government

Published

4 months ago

July 10, 2025

Segun Ayinde, Abeokuta

As parts of efforts to avoid boat mishap, the Federal Government has donated 3,500 life jackets to Ogun State Government to ensure safety of waterways users on inland water transportation across the state.

Minister for Marine and Blue Economy, Hon. Adegboyega Oyetola, said that the life jacket donation was to create awareness on the safety of waterways users to navigate and transport easily on waters.

He stated this while flagging off the life jackets distribution ceremony held at the Conference Hall of the State’s Ministry of Transportation at Oke-Mosan, Abeokuta, the state capital.

Oyetola who was represented by the Director of Marine Services, Dr. Mercy Ilori, charged boat operators and ferry association to enforce life jackets on passengers before boarding their boat so as to save them from untimely death.

He explained that Ogun waterside, Ijebu and Yewa areas have expansive rivers and creeks network which had aided the business and cultural exchange of people in the areas, insisting that the waterways areas served as transit routes for the residents to transport their goods within the state and to neighbouring countries.

“Ogun State’s expansive network of rivers and creeks, especially around the Ijebu Waterside and Yewa areas play a vital role in the everyday lives of residents by supporting mobility, trade and cultural exchange not only within the State but also with neighboring States and Countries. He noted that, the waterways were more than just transit routes, they sustain livelihoods, commerce and inter-community ties.” The Minister said

The State Governor Dapo Abiodun lauded the FG for the gesture while rreaffirming the state Government’s commitment to strengthening safety protocols on its waterways to avoid boat mishap incidents.

Abiodun who was represented by the Commissioner for Transport, Engr. Gbenga Dairo, said that such initiative reflects the life saving gesture of President Bola Tinubu led administration to people of riverin areas and coastal communities in the state.

He said” To begin with, I express my deepest appreciation to the President of the Federal Republic of Nigeria, President Bola Tinubu, whose visionary leadership and unwavering commitment to the safety and prosperity of Nigerians continue to inspire confidence across the nation.

“Today’s event is a reflection of that commitment — a life-saving gesture to thousands of our riverine and coastal communities, marked by the distribution of an initial tranche of 1,000 life jackets to Ogun State,” he noted

The governor stated that safety on waterways was not a privilege but a right, describing the initiative as an investment in human capital development, which aligns with the pillars of the ISEYA Mantra of his administration.

He, however, assured of Ogun State’s continued collaboration with the Federal Ministry on developing marine infrastructure, enforcing safety standards and advancing the blue economy.

Earlier, the Chairman of the Ogun State House of Assembly Committee on Transportation, Hon. Igbalaye Ayodele, advised all stakeholders to make use of the life jackets rather than abandon them, emphasising that they were for their safety

Share on Facebook

Business

TAJBank Emerges Nigeria’s Biggest Non-Interest Bank

Published

2 weeks ago

October 23, 2025

The Gleamer

Cyril Ogar

After five years of operations in Nigeria’s rapidly evolving non-interest banking (NIB) space, TAJBank Limited has become the biggest player in the NIB subsector based on its total assets and gross earnings values.

Disclosing this during his paper presentation on the key performance indices in the non-interest banking space over the past few years at a seminar organized by Leaders Corporate Services with the theme “Roles of Non-Interest Banks In SMEs’ Financing” for SME entrepreneurs yesterday in Abuja, an investment expert, Mr. Olabode Akeredolu-Ale, maintained that based on the non-interest banks’ approved financial statements for the half year 2025, TAJBank currently remained the biggest in terms of its total assets.

The expert, a chartered stockbroker, specifically confirmed that his recent investment researches on the NIBs and their financial performances showed that TAJBank, with its total assets rising to N1.017 trillion in half year 2025 up from N953.098 billion as of December 2024, which is about N53 billion higher than the nearest NIB’s assets, now ranked top in the banking subsector.

According to him, TAJBank’s gross earnings for H1 2025 also surged to N53.752 billion from N32.86 billion as of December 2024, representing a 64% growth, and higher than the nearest NIB’s gross earnings in the period under review.

This is even as he disclosed that on the NIBs’ earnings per share during the half year, TAJBank reported N61.36 kobo earnings per share, about 92% higher than the earnings per share of the next NIB during the period.

Akeredolu-Ale, who is also a chartered accountant, clarified: “The figures I am reeling out here on the NIBs are sourced from the banking and capital market regulatory institutions’ platforms, which anyone can access to verify.

“I am part of this event because of my research interest in non-interest banking and how the players in the subsector in Nigeria can help to leverage their competencies in innovation and ethical banking to support our MSMEs.

“Today, the MSMEs cannot access DMBs’ loans due to high lending rates and other inclement macroeconomic factors. This is where I think the NIBs have become very crucial to Nigeria’s economic growth.

“Overall, my findings on the NIBs indicated that they are all trying their best with non-interest loans to support entrepreneurs, particularly the MSMEs owners. I have advised those of them at this seminar to explore the cost-friendly financing options of the NIBs to grow their businesses by opening accounts with the NIBs”, the expert added.

Another speaker at the event, Benjamin Chukwudi, also commended the NIBs for their “catalytic roles in helping SMEs to access interest-free loans and providing them the needed financial management advisory, which have been helping them in sustaining their operations in the face of rising cost of doing business in the country.”

Share on Facebook