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Here Are Top Companies That Sustain Lagos Economy.

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1. Dangote Group (Aliko Dangote -Hausa)
2. Globacom. (Micheal Adenuga. -Yoruba,)
3. BUA. (Abdul Rabiu -Hausa,)
4. First bank. (Oba Otudeko – Yoruba)
5. Zenith Bank (Jim Ovia – Delta,)
6. GTB. (Tajudeen Adeola -Yoruba)
7. Access Bank ,( Albert Wigwe – Rivers)
8. UBA. (Tony Elumelu. – Ibo)
9. Fidelity Bank (Mustafa Chike Obi – Igbo)
10. Geregu Power plc (Femi Otedola . Yoruba)
11. Honeywell Flours Mills (Oba Otudeko – Yoruba)
12. Oando. (Wale Tinubu – Yoruba)
13. Flutterewave. (Olugbenga Agboola – Yoruba)
14. Forte Oil. ,(Abdulwasiu Sowami -Yoruba)
15. Honeyland Foods (Ibunkun Odunsiya – Yoruba)
16. Rite Foods ltd (Suleiman Adegunwa ,-Yoruba)
17. JUMIA (Tunde Kehinde – Yoruba)
18. Konga. (Leo Stan Ekeh -Igbo)
19. Payporte (Bassey Eyoh – Cross River)
20. Dealsdey. (Sim Shagaya – Kwara’ Yoruba)
21. ShopRite Nigeria. (Tayo Amusan – Yoruba)
22. Addide Supermarket chain -(Adebowale Odunuga -Yoruba)
23. Sahara Energy -{Tunde Ayeni – Yoruba)
24. FCMB. -(Dubomi Balogun -Yoruba)
25. Sterling Bank ( Mike Adenuga -Yoruba,)
26. Paystack. ( Shola Akinlade ,-Yoruba)
27. Conoil. (Mike Adenuga -Yoruba)
28. Elizade Motors (Micheal Ade Ojo -Yoruba,)
29. Yinka Folawiyo Petroleum (Yinka Folawiyo -Yoruba)
30. Chicken Republic (Deji Akinyanju -Yoruba,)
31. Mega Chicken (Timothy Olubisi Ayenuyo -Yoruba)
32. Sweet Sensation (Kehinde Kamson -Yoruba)
33. Tantalizes ( Abosede Ayeni – Yoruba)
34. Tastee Fried Chicken (Olayinka Adedayo -Yoruba)
35. Stanbic IBTC (Atedo Peterside – Rivers)
36. WEMA Bank (Adekoya Okupe – Yoruba)
37. Union Bank (Farouk Gumel + Hausa)
38. AIICO Insurance ( Babatunde Fajemirokun -Yoruba)
39. Leadway Assurance (Hassan Odukale -Yoruba)
40. Nestoil (Ernest Obiejesi -Igbo)
41. Mainone. (Funke Opeke -Yoruba)
42. Tito Group (Asiwaju Akinwumi -Yoruba)
43. Nord Automobiles (Ajayl Akintobi -Yoruba,)
44. Coscharis (Cosmos Maduka -Igbo)
45. IMC Steyr Motors (Charles’ Ekundayo -Yoruba)
46. Paga (Tayo Oviosu. – Yoruba)
47. Kuda. (Babs Ogundeyi – Yoruba)
48. Mama Cass ( Grace Onabowale -Yoruba)
49. Kilimanjaro (EbelevEnunwa- Igbo)
50. Dignified Mobile Toilets (DMT) (Toyosi Akerele – Yoruba)
51. Vita foam (Bisoye tejuoso – Yoruba)
52. Wemy Industries – Ademola Odunaiya – Yoruba)
53. Hoodies and Stones Clothing -(Fadipe Adedamola – Yoruba)
54. Heirs Holdings. (Tony Elumelu -Ibo)
55. Verve International (Mitchell Elegbe ).
56. Moniepoint was founded by Tosin Eniolorunda – Yorùbá

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With all these conglomerates, ask yourself that, who actually build Lagos?

Sho Rotimillion Henry:

Shonde Oluwagbenga Majorities of the market space. Ladipo market Igbos, Alaba market igbos, Daleko market igbos, West minister igbos, oyigbo yorubas. Mile 12 hausas. Oke odo yorubas, ojuwoye yorubas, trade fair igbos, balogun mandilas igbos, Ajah market igbos and yorubas. Epe market yorubas. The most lucrative markets in lagos are dominated by the igbos. Stop playing tribal bigotry.

Shonde Oluwagbenga :

Sho Rotimillion Henry When are you guys going to get tired of using the word BIGOT and TRIBALISM?

When?

Why is it that whenever someone post the real fact that talks about Lagos economy and it doesn’t align with your southeast sentiments, automatically that person is a Tribal bigot?

This lists is from NBA Nigeria Bureau of Statistics, on how Lagos economy is been sustained. Why don’t you ask yourself why markets was exempted from the lists if truly markets sustain economy?

This are the conglomerates where Lagos State get their huge revenue from, not from the markets you listed out here.

Do you even know that, the taxes those markets you said you dominated pay in a year is not up to what each company pay in a month, not to talk of tax dangote refinery alone would be paying in a month?

Mr Trader, Markets is not really the economy booster.

If you want to know this better, Let’s take ABA market as an example, ABA markets is one of the biggest Markets in entire west africa countries, but what is the IGR of ABIA state or what exactly is ABIA state contributing to federals governments coffers?

See also  Akwa Ibom to drive large-scale farming with equipment leasing firm

Do you even know that what Oyo state alone contribute to Government coffers surpass what entire Ibo region Contributed with your ABA market .

You need to understand this thing better, exporting our Jobs to china and importing unemployement back Nigeria all in the name of Business, Market or Trading, doesn’t build economy, that is why Ibo region are not doing fine when it comes to revenue generation.

Conglomerate is the strength of state economy not markets.

Hope you have learn something Mr Tribal Bigot, who want to use ordinary Markets to defend Ibo statement of Ibo build Lagos.

We are Yoruba :

Others and more :

Proceeds of the inhabitants of the “brown roof kingdom”. Yorubas excellence in entrepreneurship.🔥🔥

1. Chowdeck:
Femi Aluko, Olumide Ojo and Lanre Yusuf. They launched in October 2021.

2. BOKKU:
Owned by a Nigerian Adewale Adeyemi, started operation in September 30, 2022.

3. The Place:
Owned by Kola Adewale.

4. Brent Stores:
Martins Akinola.

5. Justrite:
Dr. and Mrs. Aderinwale and Mrs. Omoboye. Current CEO is Mrs. Tosin Aderinwale.

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Business

X offers changes to blue checkmarks after $138m EU fine

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Elon Musk’s X has offered to make changes to its blue checkmark for “verified” accounts, a European Commission spokesman said Friday, after the platform received a 120-million-euro ($138 million) fine.

The European Union slapped the fine in December on X for breaking its digital rules, including through the “deceptive design” of its blue checkmark.

“X has submitted remedies in relation to its blue checkmark. The commission will now carefully assess the proposed remedies,” EU spokesman for digital affairs Thomas Regnier said.

He did not provide details about what X had submitted.

X risked periodic financial penalties had it not submitted any remedy.

“We have to value the fact that after a constructive exchange with the company, the company has taken its obligation seriously and has submitted us remedies,” Regnier told reporters in Brussels.

When contacted by AFP, X did not provide comment immediately.

Blue checkmarks, long free of charge at what was previously known as Twitter, were intended to signal the identity of certain users — such as celebrities, journalists and politicians — had been verified in an effort to build trust in the platform.

But after Musk bought the platform, he allowed users to pay to get one.

X in February announced it had filed an appeal with the EU’s top court against the fine, which was the first ever under the bloc’s Digital Services Act (DSA).

But Regnier said the commission still expected X to pay it by Monday, and to provide further remedies on other breaches by April 28.

The fine came under a probe started in December 2023.

See also  10 states plan N4.3tn borrowing to fund 2026 budgets

That investigation continues as EU regulators study how X tackles the spread of illegal content and information manipulation.

X has often been in the EU’s sights.

The 27-nation bloc in January began another DSA probe into the company’s AI chatbot Grok’s generation of sexualised deepfake images of women and minors after a global outcry.

AFP

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Akwa Ibom to drive large-scale farming with equipment leasing firm

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Akwa Ibom State Government has said it will soon inaugurate its Agric Equipment Leasing Company as part of efforts to promote large-scale mechanised farming in the state.

Governor Umo Eno disclosed this while fielding questions from Government House correspondents shortly after inspecting the progress of work at the company’s facility located at Ekpri Nsukara in Uyo on Thursday.

In a statement obtained from the Government House Press Unit on Friday, the governor commended the contractor for the progress recorded at the project site.

“There is a lot of improvement in the work done here to get the company kick-started in earnest.

“The contractor has given her word that the project will soon be inaugurated, and I hold her to that,” he said.

Eno explained that the essence of the project is to encourage farmers to embrace large-scale farming in order to boost productivity, increase earnings and ensure food sufficiency in the state.

“The farming season is here again, and we are putting everything in place for this project to function optimally. There are over 25 tractors with tracking devices and two low-bed trucks in readiness for the agriculture programme.

“What we intend to do here is to lease these equipment to our farmers across the state at subsidised rates so that they can utilise it for improved farming productivity.

“These farming equipment range from ploughs to harvesters and other implements that will help improve farming output,” he said.

The governor noted that the initiative forms part of his administration’s strategy to mechanise farming methods in the state in order to achieve large-scale crop production and increase farmers’ profits.

See also  Class of 99: Create cottage industries, not N5,000 palliative – Former Govs tell Tinubu

Speaking on the government’s tree-crop revolution programme, Eno assured that the initiative would commence once the rainy season sets in, noting that such crops thrive better during the rainy season.

“The nursery for palm seedlings has already been established, and the necessary enumeration of farmers has been conducted across the state.

“Within the next two weeks, the seedlings will be distributed to farmers for planting across the state,” he added.

The governor urged farmers to take advantage of the various agricultural programmes introduced by the government to enhance large-scale farming output and improve economic growth in the state.

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Forum dismisses claims of N210tn missing in NNPC accounts

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A coalition of professionals under the Ajiyya Solidarity Forum has dismissed allegations that about N210tn is missing from the accounts of the Nigerian National Petroleum Company Limited (NNPC).

Addressing journalists on Thursday, ASF National Coordinator, Usman Hamza, described the claim as “mathematically impossible” and politically motivated.

The group’s position is in response to a recent claim by the Chairman of the Senate Public Accounts Committee, Ahmed Wadada, that the NNPC Limited could not account for about N210tn.
Hamza said such a figure was misleading.

“Senator Wadada’s claim of N210tn ‘unaccounted for’ funds is a mathematical impossibility designed to shock the public,” Hamza said.

He argued that the claim did not align with Nigeria’s fiscal reality, noting that the country’s entire 2024 national budget stood at about N28.7tn.

“To suggest that a single entity ‘lost’ nearly eight times the national budget is an insult to the intelligence of Nigerians,” he added.

The forum also condemned threats of arrest warrants against former officials of NNPCL, including former Chief Financial Officer, Umar Ajiya, describing the move as part of a coordinated campaign of political blackmail.

According to the group, the Senate committee may have misinterpreted financial figures by combining accrued expenses and receivables in a way that falsely suggests missing funds.

“We consider that the committee has erroneously ‘netted’ N103tn in accrued expenses, largely joint venture liabilities, with N107tn in receivables owed to NNPCL. Labelling money owed to a company as ‘missing funds’ is a professional travesty,” Hamza stated.

During the ongoing review of the financial records of Nigerian National Petroleum Company Limited, the Senate Public Accounts Committee, chaired by Wadada, had raised concerns over alleged discrepancies running into trillions of naira.

The ASF maintained that the allegations ignored the broader financial and structural reforms undertaken by the national oil company in recent years.

See also  Akwa Ibom to drive large-scale farming with equipment leasing firm

Furthermore, Hamza mentioned that the tenure of former CFO Ajiya coincided with the transition of the national oil firm into a commercial entity under the Petroleum Industry Act, a reform that ended decades of opaque financial reporting.

“Mr Ajiya’s tenure saw the transition of NNPC into a commercially driven entity and the publication of the first audited financial statements in 43 years,” the forum stated.

ASF defended the N5.9bn cost incurred during the transition process of NNPC to NNPC Limited, saying it covered complex legal and structural reforms required to transform the former state corporation into a limited liability company.

The forum warned that politicising the Senate’s oversight role could damage Nigeria’s credibility in the eyes of international investors.

“Using the Senate’s hallowed chambers to pursue personal vendettas damages Nigeria’s reputation with international investors,” Hamza said.

The forum further called on the leadership of the Senate to institute an independent ethics investigation into what it described as an alleged demand for bribes linked to the ongoing oversight process.

“We call on the Senate leadership and its Ethics Committee to investigate the alleged bribe demand connected to this oversight exercise,” he said.

He urged lawmakers to stop what he described as the harassment of officials who have already submitted several technical responses to the committee.

“Public accountability should be pursued through a sober forensic review of facts, not through sensational claims and phantom numbers,” he added.

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