Connect with us

News

Heirs Holdings launches maiden TV Commercial

Published

on

Heirs Holdings has launched its first-ever television commercial.  The newly released television commercial (TVC) showcases the company’s diverse portfolio, spanning the power, energy, financial services, hospitality, real estate, healthcare and technology sectors while highlighting its commitment to driving positive change and sustainable development across Africa and beyond.

With its compelling narrative, the commercial is captivating audiences worldwide, shining a spotlight on Heirs Holdings’ vision, and commitment to improving lives and transforming the continent.

In 2010, Tony O. Elumelu, CFR, founded Heirs Holdings after making significant strides in reshaping Nigeria’s banking industry. Elumelu made history when he led the biggest merger in sub-Saharan Africa at the time, combining Standard Trust Bank Plc with the older, more established United Bank for Africa (UBA), which at the time was Nigeria’s 3rd largest financial services institution. In establishing Heirs Holdings, Elumelu’s goal was to transform the African economy through strategic long-term investments in sectors critical for Africa’s progress.

Speaking on the new TVC, the Company’s Group Head of Marketing and Corporate Communications, Clari Green, said that in its thirteen years of existence, Heirs Holdings has established a reputation for being consistent in creating value while driving Africa’s social and economic agenda.

She stated, “Heirs Holdings has an investment portfolio which spreads across twenty-four countries worldwide, this is as intimidating as the significant milestones it has achieved since it launched in 2010 with a bold strategy to focus on the African continent and unlock its socio-economic potential,” while listing some of the key milestones which include:

In 2011, Heirs Holdings identified its first strategic investment opportunity, acquiring a controlling stake in Transcorp, leading the organisation into an era of year-on-year growth and expansion into the power sector.

Transcorp Power acquired 100 percent ownership and management of Ughelli Power Plc, with 972 MW installed capacity, but actual production of only 160MW. Transcorp Power surpassed the five-year performance target of 670MW set for it in 2013 by the Federal Government of Nigeria through the Bureau of Public Enterprises (BPE), by increasing the available capacity of Ughelli Power Plant from 160MW to 701MW within four (4) years of taking over the Plant. Last year, Transcorp Power became the first power generation company to be discharged from post-privatisation monitoring.

Afriland Properties Plc, a real estate investee company of Heirs Holdings grew its portfolio size to over N12 billion and has become one of the largest land banks in Nigeria.

Heirs Holdings founded Avon Healthcare Limited (Avon HMO), which celebrated a decade of unwavering commitment to exceptional healthcare last year, impacting over 230,000 lives through 2,500 hospitals across the world, paying over N24bn ($32m) in claims in 10 years.

In 2015, Heirs Holdings’ philanthropic arm, the Tony Elumelu Foundation launched its flagship Entrepreneurship Programme committing US $100 million to identify, train, mentor, and fund 10,000 African entrepreneurs over 10 years, across 54 African countries. Today, the Tony Elumelu Foundation has surpassed its initial goal by directly funding 20,000 entrepreneurs and has provided over 1.5 million young Africans with access to training via its digital platform, TEFConnect.

Heirs Holdings successfully acquired OML17 from Shell, TOTAL, and ENI in a $1.2 billion transaction, the largest oil and gas transaction in Africa for the year 2021. OML 17, operated by Heirs Energies, has a peak production of over 80 MMSCFD (million standard cubic feet per day) of gas at its gas plant in Agbada, Rivers State.

In 2021, Heirs Holdings launched digital-first insurance companies rebranded as Heirs Insurance Group, a formidable family of three insurance brands offering General Insurance, Life Insurance, and insurance broking services, to democratise access to insurance and drive financial inclusion. The Group’s commitment to simplifying the insurance experience has led to its rollout of digital and mobile service channels, as well as the launch of innovative customer-first initiatives such as the first digital insurance Experience Centre.

In the same vein, 2024 is shaping up to be an amazing year for the Heirs Holdings Group. With the year just nearing the end of its first quarter, Heirs Holdings (HH) has continued in its track record of success.

The year started for HH with a surge as the market capitalisation of its Nigerian Exchange (NGX) listed investee companies skyrocketed to an astounding N2.4 trillion, with two of the companies, United Bank for Africa, and Transcorp Group’s hotel subsidiary, Transcorp Hotels, crossing the one-trillion-naira mark, joining the league of SWOOTs.

In another significant stride, Transcorp Group orchestrated the successful listing of Transcorp Power, one of its power subsidiaries, on the main board of the Nigerian Exchange (NGX).

This move not only further bolstered the company’s portfolio but also injected an additional N1.8 trillion into the market capitalisation of NGX. In less than two weeks Transcorp Power’s market capitalisation grew to over N2.8 trillion. With a combined generating capacity of approximately 2,000 MW between itself and its sister company, Transafam Power, Transcorp Group’s power subsidiaries account for 15.5 percent of the total installed capacity in Nigeria.

Additionally,  Heirs Energies, a subsidiary of Heirs Holdings, recently announced a further expansion of its gas supply business, supplying the recently commissioned 188 MW power plant operated by Geometric Power Limited, located in Aba, Abia State. Heirs Energies also supplies gas to TransAfamPower Limited, with a capacity of 966MW, and First Independent Power Limited (FIPL), with a capacity of 541MW, as well as local distribution companies, gas-based industries, and other industrial customers, directly contributing to Nigeria’s industrial and economic growth.

Over the course of thirteen years, Elumelu built Heirs Holdings into a symbol of business excellence, becoming a dominant force in Africa’s corporate sphere as a transformation expert. Not only is Heirs Holdings generating socio-economic prosperity, but it’s also spearheading and championing African-centric solutions on a global scale, through its philanthropic arm, the Tony Elumelu Foundation.

Amidst these triumphs, Heirs Holdings unveiled yet another ambitious venture: the launch of its new subsidiary, Heirs Technologies, a world-class digital transformation company, set to define excellence in the technology sector. However, the crescendo of Heirs Holdings’ remarkable year came with the highly anticipated launch of its pioneer television commercial on CNN International. The unveiling of this commercial marks a pivotal moment for the company as it embarked on a new chapter of global visibility and engagement.

As Heirs Holdings continues to chart new frontiers and push the boundaries of possibility, the launch of its pioneer television commercial echoes the broader narrative of Africa’s transformative potential, heralding a future filled with endless possibilities and opportunities for growth and prosperity for the ‘Heirs’ of African heritage.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Nigeria Army arrested 5 oil thieves, 225,000 liters stolen crude uncovered

Published

on

Operatives of 6 Division, Nigeria Army, Port Harcourt, Rivers State have arrested five illegal oil bunkering suspects.

This was as the troop of the Division also uncovered five 45,000 capacity reservoirs ladened with approximately 225,000 liters of crude in the thick forest of the community.

The army made this discovery and arrest at Odagwa Community in Etche Local Government Area of the state.

Conducting journalists around the forest for the achievement, the Commanding Officer, 29 Battalion, Lieutenant Colonel Ishaya Manga, revealed that the troops achieved the feat through the combination of technology and human intelligence.

Manga, who represented the General Officer Commanding (GOC) 6 Division, Nigerian, Port Harcourt, Major General Jamal Abdusallam, vowed that the troops would not rest until illegal oil bunkering and other crime perpetrated within their Area of Operation are brought to a standstill.

He further noted that apart from the huge amount of stolen crude oil discovered, several other cooking pots were uncovered and destroyed by the operatives.

Manga said: “In continuation of our operation to rid 6 Division area of illegal oil bunkering and other forms of criminality which began in February organised by the division. It is against this backdrop that the troops of 6 Division were directed to identify, locate and destroy all illegal refineries within the 6 Division area of responsibility.

“We use two approaches to our discoveries, one of the approaches is drones, but it is not everything that the drone can sight, so we deployed our second approach which is human intelligence and that is what we’ve been using so far and it has been yielding tremendous results.”

While emphasising that the operations of the criminals were negatively impacting the social economic activities of the state, he explained that each of the uncovered reservioirs contained about 45,000 liters of the product.

He said: “This is economic sabotage against the federal government, impacting negatively on the social economic activities, as well as the health of the citizens and that is why we are here. We would continue to do our best to ensure that all illegal refineries in this area are destroyed.

“Apart from these reservoirs, there are other cooking pots at various locations not far from here which would be completely destroyed.

“In this general area of Odagwa, our troops have discovered about five reservoirs filled with about 45,000 liters of illegal crude oil and there are other empty reservoirs discovered by the troops, the operation is ongoing and we will continue to make further discoveries. As soon as the discoveries are made, the public would be informed.”

While commending the law-abiding citizens for their cooperation in their fight against illegal oil bunkering in the state, he warned economic saboteurs in the state to steer clear of government’s infrastructure.

“I also want to send a message to those oil bunkerers to desist from these forms of criminality because it is against the law, this is sabotage against the federal government, Rivers State government and the community where this heinous crime is being carried out.

“So far we have arrested five suspects and those arrested would be taken to the division where they would be referred to the relevant authorities for prosecution,” he mentioned.

Continue Reading

News

FG subsidised 2024 Hajj with N90bn – Shettima

Published

on

Vice President, Kashim Shettima, has disclosed that his principal, President Bola Tinubu, subsidised the 2024 Hajj with N90 billion.

He stated this when he represented Tinubu to flag off the inaugural airlift of the 2024 Hajj exercise from Nigeria to the Kingdom of Saudi Arabia at the Sir Ahmadu Bello International Airport Birnin Kebbi on Wednesday.

Shettima urged the intending pilgrims to pray for peace, unity, and progress in the country, urging the intending pilgrims to abide by all rules and regulations of the Kingdom of Saudi Arabia and urged them to avoid any illicit act capable of affecting the integrity of their Hajj.

“Mr president has been committed to this year’s Hajji due to the economic situation, he has also contributed the sum of N90 billion to subsidise this year’s Hajj exercise to have a smooth and successful exercise.

”You may recall that this year, we had a major challenge in announcing the final hajj fare for the 2024 Muslim pilgrimage due to fluctuation in foreign exchange rates.

”President Bola Tinubu also works round the clock to control the downward spiral of our local currency to bring relief to our pilgrims and other Nigerians.

”A move that eventually succeeded in lowering the fare. The President approved the release of N90 billion to subsidised the cost of pilgrimage for this year’s hajj.”

He said that the government of Renewed Hope led by Tinubu attaches immense importance to religious pilgrimage due to the role it plays in transforming behavioral and social vices of the believers beyond performing the pilgrimage.

Earlier in his remarks, the Kebbi State Governor, Dr Nasir Idris, said this year’s Hajji signifies a sacred journey for thousands of devoted pilgrims who embarked on a spiritual voyage to the Holy Land.

He explained further that Hajj is a time to honoured tradition that holds great significance for Muslims around the world.

“It is a journey of faith, devotion, and unity where believers come together to fulfill one of the five pillars of Islam, the pilgrimage to Mecca is a profound experience that fosters a sense of community, humility, and spiritual renewal,” he said

The governor urged the people that they should remember the significance of this sacred ritual, adding that Hajji remained a testament to the unity of Muslim Ummah, transcending geographical boundaries and cultural differences.

“It is a time for reflection, prayer, and seeking forgiveness, as well as an opportunity for personal growth and self-discovery,” he added.

He commended the Federal Government, National Hajji Commission, and those that were involved for their commitment to the successful exercise.

Idris noted with satisfaction that Kebbi was the first state to remit 2024 Hajj fare in Nigeria, adding the intending pilgrims from Kebbi were given special treatment by the present administration to comfort them toward a successful Hajj exercise.

The governor said his administration had spent N900 for infrastructural development of the Hajj Camp in Birnin Kebbi to make it more conducive for the intending pilgrims

In his remarks, the NAHCON National Chairman, Alhaji Jalai Ahmad Arabi, thanked the President and Kebbi governor for their support and cooperation towards the success of this year’s Hajji exercise.

Continue Reading

News

FG revenue inflow hits N318.5bn in Q1 – AGF

Published

on

The Federal Government has announced N318.5bn revenue inflow in the first quarter of 2024, the Accountant General of the Federation, Mrs Oluwatoyin Madein disclosed on Wednesday in Abuja.

Madein stated this while briefing members of the House of Representatives Committee on Finance, on the revenue performance of the various agencies of government in the first quarter of 2024.

Represented by the Director, Revenue and Investment in the Office of the Accountant General, Maiden, noted that the 2024 fiscal year would be exceptional in terms of revenue generation, owing to the policies of the President Bola Tinubu-led government.

She said, “Reconciliation is still being done but the total revenue inflows to the Federal Government for January to March amounts to N318.5bn as against a total budget of 2.691tn.

“For the budget, the bottom-up cash planning policy is on course and the 2024 budget is going to be implemented via that policy. Officers have been retained and sensitization is ongoing to ensure that Ministries, Departments and Agencies are well equipped on the modalities and conditionalities.”

Also speaking, the Chief Executive Officer, Ministry of Finance Incorporated, Armstrong Takang, who also briefed the lawmakers, disclosed that some agencies under MOFI have so far declared dividends of N101bn.

Takang said, “So far, we have received dividends declared by some companies. But for many others, their reports are either being prepared and have not been completed or have been completed but they have not gone to their boards for approval and subsequently the Annual General Meeting. As such, we cannot use the number of their dividends until that has been done based on the corporate governance rules.

“Based on the number so far, it is about N101 billion from the entities we have identified. We continue with other entities whose dividends have not been paid to ensure we go through the process of them passing it at the board level and the AGM before the figures are sent to us and the money rendered to the treasury.”

The Chairman of the Committee, James Faleke, in his intervention, directed all the agencies under MOFI to furnish the parliament with their annual report for the past 10 years.

According to him, “All organisations under MOFI should produce their annual report for the past 10 years and the dividend that ought to have been paid, what ought to have been paid, and what was paid by each of the agencies, and of course evidence of payments.”

Earlier, Faleke who represents Ikeja Federal Constituency, Lagos State, explained that the session was in in line with the oversight function of the committee to ensure that the revenue targets of the various agencies in the 2024 fiscal year are met.

“We have to ensure that those estimates are met. The appropriation has become a law and so the revenue that you are proposing to generate in the year, we take it upon ourselves to do it every quarter to measure your performance.

“We want to ensure that revenue activities from January to March are in line with your appropriation. When you are giving us your figure, you tell us what the figure was expected for the generation and what you have achieved,” he added.

Continue Reading

Trending