Author: Val Kosi

  • Akwa Ibom govt plans 4-star Ibom Hotel in Abuja to diversify revenue streams beyond oil

    Akwa Ibom govt plans 4-star Ibom Hotel in Abuja to diversify revenue streams beyond oil

    The Akwa Ibom State Government has unveiled plans to construct a 4-star Ibom Hotel in Abuja as part of its broader strategy to diversify revenue streams and reduce dependence on oil.

    Governor Umo Eno made this announcement during his presentation of the 2025 budget proposal before the Akwa Ibom State House of Assembly on Wednesday.

    He further emphasized that the state government is finalizing arrangements for the hotel’s construction, which is expected to generate substantial long-term returns on investment.

    The details were drawn from the governor’s speech, which was later made available on the official website of the state government.

    “We are also concluding plans to construct a Four-Star Ibom Hotels in Abuja- all these will in the long run earn us solid returns on investment. As the world is looking beyond oil, we too, must make plans to think ahead and survive without oil,” he stated.  

    This announcement comes just weeks after the Akwa Ibom State government held the groundbreaking ceremony for the construction of the 18-story Ibom Towers, a project that, upon completion, will mark the state’s entry into the dynamic Lagos real estate market.

    The governor emphasized the state’s commitment to boosting its internally generated revenue through the innovative revitalization of its underutilized assets.

    What you should know  

    Governor Umo Eno outlined several key initiatives by the Akwa Ibom State Government aimed at diversifying the state’s economy and fostering sustainable development.

    • He emphasized the Ibom Deep Seaport, a flagship project vital to the state’s long-term economic strategy. The governor shared that a comprehensive feasibility study, encompassing geotechnical, geophysical, and environmental assessments, has been completed.
    • With the study finalized, he confirmed that the project will now proceed to the Front-End Engineering Design (FEED) phase, a critical step in the execution of large-scale infrastructure projects. He also highlighted progress in improving access to the facility and enhancing the seaport’s connectivity and operational readiness.
    • Governor Eno also highlighted tourism as a central pillar of the state’s economic vision. He announced that a section of Arise Park, the state’s ambitious tourism project, will open in December, with the first phase featuring a children’s playground and a golf course.

    Situated on land once devastated by gully erosion along Etim Umana and Dominic Utuk Avenues, the park, as noted by the governor, now embodies the state’s dedication to transformation.

    Upon completion, he stated, Arise Park will emerge as a major tourism hub, driving economic growth, creating jobs, and furthering the state’s diversification goals.

     

  • Nigerian films claim 50.4% of box office revenue, surpassing foreign competitors – Dr. Patric Doyle

    Nigerian films claim 50.4% of box office revenue, surpassing foreign competitors – Dr. Patric Doyle

    Renowned Nigerian actor Dr. Patric Doyle has revealed that the Nigerian film industry achieved a significant milestone in 2024, securing 50.4% of box office revenue and surpassing foreign films.

    This achievement was highlighted at the 7th Nigeria Diaspora Investment Summit (NDIS7), where industry leaders gathered to discuss the investment potential within Nigeria’s creative sector.

    Renowned Nigerian actor Dr. Patric Doyle, who moderated a panel on the “Appraisal of Investment Prospects in the Nigerian Creative Industry,” noted the substantial growth of Nigerian cinema citing the recent success of Blackbook as the most successful African film on Netflix.

    “Nigerian films now account for 50.4% of the box office revenue, surpassing foreign films. This remarkable achievement is largely attributed to the exceptional work of Nigerian actors, producers, and filmmakers, like RMD, lead actor in the film “Blackbook”, named the most successful African film on Netflix,” Doyle stated.

    Doyle emphasized that NDIS7 offers a unique opportunity for diaspora investors to tap into this momentum.

    Investment opportunities  

    Panelist Idris Olorunnimbe, founder of The Temple Company, highlighted the profitability of Nigeria’s creative industry and urged the diaspora to seize investment opportunities.

    “The Diaspora can invest in infrastructure, skills, and talents in this industry and own something that’s profitable,” Olorunnimbe said.

    He pointed out the increasing global demand for Nigerian content and stressed the role of data-driven decision-making.

    “The marketplace is data, and there are people like us, who are willing and able to use your money wisely and get you the best product and returns on investment.” 

    Afrobeats’ global success  

    Ayo Animashaun, founder of Hip TV, celebrated the international success of Afrobeats and stressed the need for more investment to harness its full potential.

    “We have not milked the popularity of our music enough; last year, Afrobeats recorded over $345 million in streaming across only two platforms, and Nigerian artists sell out big shows around the world. The opportunities are massive, we need the Diaspora to invest in more record labels and to create more festivals for Afrobeats,” Animashaun said.

    Nigerian-Canadian filmmaker Niyi Akinmolayan highlighted the untapped potential of Nigeria as a film production hub, calling on stakeholders to leverage the country’s resources and talent to create content that resonates globally as Nigeria is capable of making large-scale film projects.

     “The content doesn’t even have to be completely Nigerian. We have all the space, the land, and capable hands to shoot some of the big motion films in the world right here back home,” he said.

    Richard Mofe Damijo (RMD), a prominent Nollywood actor, expressed that building trust between Nigerian businesses and diaspora investors could lead to broader economic growth across multiple sectors.

    Box office revenue Dr. Patric DoyleNDIS7 Nollywood

  • COP29: WHO director-general urges global readiness to tackle health threats

    COP29: WHO director-general urges global readiness to tackle health threats

    The Director-General of the World Health Organization (WHO), Tedros Adhanom Ghebreyesus on Tuesday urged countries to take proactive measures to prevent the recurrence of pandemics and the spread of new viruses.

    Addressing leaders, scientists, and health advocates at the COP29 summit in Baku, Azerbaijan, Ghebreyesus said analysis and predictions regarding the probability of recurrence of pandemics and new viruses will play a pivotal role in the coming years,

    “Several measures are already being implemented in response,” he noted, adding that preventing the recurrence of such incidents is possible only if the countries take necessary preparatory measures in advance and act cautiously.
    Dr. Tedros also emphasized the intersection of climate change and public health, speaking on to the urgent need for ongoing monitoring and preventive action to protect communities from future emergencies. “It is vital to be prepared to prevent threats and minimize their consequences. At the same time, each of us must realize our responsibility,” he added.

    Health impacts of extreme weather and pollution
    In his address, Dr. Tedros challenged attendees by asking: “Why does climate change matter? Why should we care about rising temperatures, sea levels, and extreme weather events? We care because, ultimately, climate change is about human health.”

    Rising sea levels, extreme weather events, and air pollution, Dr. Tedros explained, are not merely environmental threats— but direct drivers of illness and premature death. Quoting Spanish President Pedro Sanchez, he said, “We care about rising sea levels and temperatures because they take land and homes, make our planet less habitable, contribute to cardiovascular disease, and fuel the spread of communicable diseases to new places.”

    “We care about extreme weather events because they claim lives, devastate livelihoods, and destroy infrastructure. We care about air pollution because it fills our lungs with poison. That’s why we say climate crisis a health crisis. This crisis is not sometime in the future—It’s right here and now, affecting us all,” Dr. Tedros added.

    Vulnerable populations bear the heaviest burden
    The WHO chief warned that the impacts of climate change are already being felt, with vulnerable populations, especially women and children, bearing the heaviest burdens. “Air pollution alone is responsible for seven million premature deaths each year,” Dr. Tedros revealed, adding that it’s a leading cause of under-five mortality.

    “Rising temperatures are expanding the reach of infectious diseases like malaria, and last year, people faced a record 50 additional days of health-threatening heat.”

    The statistics paint a grim picture. Over 20 million people were displaced by weather-related disasters last year, and the situation may worsen. By 2050, climate change is projected to push up to 158 million more women and girls into extreme poverty, outnumbering men and boys by 16 million in this vulnerable group.

    Climate action is self-preservation
    “Climate action is self-preservation; climate inaction is self-sabotage,” Dr. Tedros urged, emphasizing the urgency of climate action for the sake of children and future generations.

    He highlighted a WHO report released at COP29, which estimates that 1.9 million premature deaths could be prevented through five evidence-based interventions: early warning systems for extreme heat, solar-powered health facilities, improved water sanitation and hygiene (WASH), cleaner household energy, and updated fiscal policies on fossil fuel subsidies.

    Protecting People, Places, and the Planet
    According to Dr. Tedros, protecting people, places, and the planet is key. Protecting people means prioritizing equity and human rights while building climate-resilient health systems, he explained.

    He outlined WHO’s approach to addressing the climate health crisis through the Alliance for Transformative Action on Climate and Health (ATACH), which unites 90 countries and over 70 partners to drive national-level progress on health and climate resilience.
    Dr. Tedros also highlighted the importance of making cities healthier places to live, with cleaner energy, zero-emissions transportation, and sustainable infrastructure. “We need cities and communities that nurture health rather than harm it,” he stated.
    Finally, protecting the planet will require overhauling financial systems to reduce reliance on fossil fuel extraction and promote well-being for all, he argued, stressing that governance must prioritize the needs of the most affected communities.

    “There is no stronger argument for climate action than health,” Dr. Tedros concluded. “And there is no stronger motivation than the health of our children.”

  • Nigeria seeks South Africa’s support for G20 and BRICS membership

    Nigeria seeks South Africa’s support for G20 and BRICS membership

    The Nigerian government has sought South Africa’s endorsement to attain full membership in the G20, BRICS, and the BRICS New Development Bank (NDB).

    The requests were made by Amb. Bianca Odumegwu-Ojukwu, Nigeria’s Minister of State for Foreign Affairs, during the closing remarks of the 11th Nigeria-South Africa Bi-National Commission (BNC) held in Cape Town, South Africa.

    South Africa officially assumed the presidency of the Group of 20 (G20) on December 1, a platform comprising the world’s largest economies.

    South Africa is also a key member of the expanded BRICS bloc, which includes Brazil, Russia, India, China, South Africa, Iran, Egypt, Ethiopia, and the UAE. BRICS nations currently account for approximately 37% of global GDP and are recognized as a significant engine of global economic growth.

    Nigeria’s Strategic Goals 

    During her remarks, Odumegwu-Ojukwu emphasized Nigeria’s interest in assuming leadership roles in thematic discussions under South Africa’s G20 presidency.

    She also reaffirmed Nigeria’s commitment to advancing peace and stability in the African region, particularly in Sudan.

    “We are strongly committed to seeking a resolution of the crisis in Sudan. In this guise, we seek South Africa’s support to accelerate the peace process and ensure that conflicts within our region are de-escalated,” she said.

    She added that President Bola Tinubu, a member of the African Union’s ad-hoc mediation committee on Sudan, has prioritized resolving the crisis to foster regional peace and stability.

    • The minister praised officials from both nations for their collaborative efforts in drafting a communiqué that reflects the outcomes of the ministerial session.
    • This draft document, alongside agreed minutes, will be presented to Presidents Bola Tinubu and Cyril Ramaphosa during the presidential session of the BNC.

    South Africa’s response 

    Dr. Roland Lamola, South Africa’s Minister of International Relations and Cooperation, acknowledged Nigeria’s requests and committed to amplifying Africa’s voice during South Africa’s G20 presidency.

    “We will count on Nigeria’s wise counsel as we assume this major responsibility,” Lamola stated.

    Lamola also reiterated the mutual commitment of both nations to strengthen bilateral relations, highlighting their shared responsibility to improve the quality of life for their citizens.

    “Our people expect South Africa and Nigeria, given our common roots, to work more closely together to improve their conditions and prospects,” he added.

    What you should know 

    In October this year, Nigeria joined BRICS as a partner country, alongside 12 other nations, further strengthening its economic ties with the intergovernmental bloc.

    • This announcement was made at the 2024 BRICS summit in Kazan, Russia, held from October 22 to 24, 2024.
    • The 12 other countries that joined as partner nations include Algeria, Belarus, Bolivia, Cuba, Indonesia, Kazakhstan, Malaysia, Thailand, Turkey, Uganda, Uzbekistan, and Vietnam.

    These countries, including Nigeria, were added as partner countries and not full members.

    Amb. Bianca Odumegwu-Ojukwu, BRICS, G20, Nigeria, South Africa

  • Queen Lateefah hits N317M in box office

    Queen Lateefah hits N317M in box office

    Wunmi Toriola’s Queen Lateefah, produced and distributed by Cinemax, has become one of Nollywood’s top-grossing films of 2024 so far with N317 million in earnings.

    Since its release on September 27, the film has captivated audiences across Nigeria, driving sustained ticket sales and setting new records.

    Here’s a closer look at Queen Lateefah’s remarkable performance trajectory and what it signals for Nollywood:

    In its debut week alone, Queen Lateefah stormed past expectations by grossing N100.2 million, setting the stage for a highly successful run.

    This initial surge, as reported by Nairametrics, was buoyed by strong word-of-mouth and an engaging storyline that resonated with Nigerian audiences. By the end of its first 3 day weekend, the film had already generated N58 million, securing its spot as the highest-grossing Nigerian film during a non-holiday weekend in 2024.

    A timeline of its earnings 

    • As the weeks progressed, Queen Lateefah continued to build on this momentum, breaking the N200 million mark within three weeks of release.
    • By October 15, the film had grossed N216 million, placing it among the highest-earning films in Nigerian cinema history.
    • The movie’s consistent box office pull is attributed to both its mass appeal and Cinemax’s effective distribution strategy.

    Cinemax founder Ope Ajayi highlighted the company’s focus on connecting filmmakers with audiences, noting that Queen Lateefah’s success shows the growing appetite for Nigerian stories.

    • By the third weekend of October, Queen Lateefah reached N256 million, inching closer to the elusive N300 million club.
    •  During the weekend of October 18-20, it pulled in an additional N23.3 million, ranking just behind The Uprising by Omoni Oboli in terms of box office performance. This remarkable showing demonstrated Nollywood’s capacity to compete with foreign releases, even during competitive screening periods.

    What to know 

    As of November 3, Queen Lateefah officially crossed the N300 million threshold, grossing a total of N317 million. This milestone places the film among Nollywood’s most successful productions and reinforces the industry’s potential for large-scale commercial success.

    • Ajayi expressed optimism that the movie will continue drawing audiences, projecting a final gross of around N400 million by the end of its run.
    • The movie’s impressive performance highlights Nollywood’s growing clout in the West African market, especially as it contends with international productions. Queen Lateefah is a testament to the evolving tastes of Nigerian audiences, who are increasingly supporting locally produced content. With over 23,000 tickets sold to date, the film is expected to enjoy another few weeks of solid returns
    • Cinemax’s achievements with Queen Lateefah also point to a promising future for Nigerian cinema, with plans to expand into global distribution partnerships. The success of Queen Lateefah reinforces the notion that Nollywood is on a path to becoming a dominant force in Africa’s entertainment landscape, capturing the hearts of audiences and setting new benchmarks for Nigerian storytelling.
    • Deborah Dan-Awoh is a seasoned lifestyle analyst with a knack for storytelling. The focus of her work covers people, money and culture as it relates with business and economy. When she’s not keeping tabs on the latest trends in lifestyle and finance- Deborah enjoys networking with industry experts to gain insight into major markets as it affects the populace

  • Venom, The Last Dance hits N123.6million in Nigerian Cinemas

    Venom, The Last Dance hits N123.6million in Nigerian Cinemas

    The Hollywood thriller Venom: The Last Dance has recently crossed the notable N100 million milestone in Nigerian cinemas, amassing a total of N123.6 million.

    The film made its debut in Nigeria with a strong N77 million, including earnings from its advanced screenings, and went on to add N117 million between October 25 and October 31, 2024. This performance has positioned Venom: The Last Dance firmly at the top of Nigeria’s box office rankings.

    As of last week, Venom: The Last Dance outperformed its predecessor, Venom: Let There Be Carnage (2021), with 14,369 tickets sold on its opening weekend compared to the previous film’s 13,906 tickets.

     

    Globally, Venom: The Last Dance entered theatres with a substantial production budget of $120 million and has faced a mixed reception.

    The film’s second weekend saw a considerable drop in North American ticket sales, with a projected $19 million for the weekend following a lukewarm $5 million Friday — marking a 63% decline from its debut.

    Despite this, the threequel’s domestic gross has reached $82.9 million, bolstered by unexpectedly strong performances on the Tuesday and Halloween dates of the preceding week.

    What we know 

    While Venom: The Last Dance stands as Sony’s latest addition to its Marvel lineup, it has not garnered the level of word-of-mouth support typically needed to surpass box office expectations.

    • As of the latest reports, the film has achieved a global cumulative of $184 million.
    • Despite the momentum, it remains distant from the franchise highs set by the original Venom (which reached $856 million) and its follow-up, Venom: Let There Be Carnage (at $506 million).
    • Nonetheless, it took only a single week for The Last Dance to exceed the total global earnings of both Morbius ($167 million) and Madame Web ($100 million), two recent releases under the Sony/Marvel banner that failed to captivate audiences.

    On the competition front, Venom: The Last Dance faces minimal domestic challenges, with Robert Zemeckis’ Here projected to earn only $5 million, holding a distant second.

    This limited competition could enable the Venom threequel to consolidate its position in the market, despite tepid reviews and lukewarm fan reception that reflect a challenging period for Sony’s Marvel lineup.

    With Kraven the Hunter slated as Sony’s next major release, the studio may need to recalibrate its strategy to reinvigorate its Marvel properties and rebuild consumer enthusiasm in the genre.

    As the franchise’s future evolves, industry analysts and cinema-goers alike will be watching closely to see if Venom’s latest instalment can sustain its momentum in the coming weeks.

    Deborah Dan-Awoh is a seasoned lifestyle analyst with a knack for storytelling. The focus of her work covers people, money and culture as it relates with business and economy. When she’s not keeping tabs on the latest trends in lifestyle and finance- Deborah enjoys networking with industry experts to gain insight into major markets as it affects the populace

    Globally Nigerian cinemas Venom: The Last Dance
  • Nollywood: The Uprising ‘Wives on Strike 3’ reaches N68.2 million in box office earnings

    Nollywood: The Uprising ‘Wives on Strike 3’ reaches N68.2 million in box office earnings

    Nollywood, The Uprising: Wives on Strike 3 has grossed N68.2 million in just its second weekend.

    Directed by Omoni Oboli, this film continues the powerful legacy of the Wives on Strike series. Opening with a weekend debut of N28.2 million, the movie has demonstrated momentum.

    Between October 25 and 31, it earned an additional N27.2 million, reflecting the sustained enthusiasm of audiences. Premiering on October 17, The Uprising amassed N40.1 million from October 18-20 alone.

    Additionally, pre-sale vouchers contributed N10 million in revenue, underscoring the strong anticipation for this instalment in the beloved franchise.

    Since its inception in 2016, the Wives on Strike series has captivated audiences with its mix of humour, social justice themes, and drama. The Uprising ventures into darker territory with a gripping, action-driven plot.

    This latest chapter follows a mother’s intense mission to rescue her kidnapped son, immersing viewers in a story of courage, resilience, and sacrifice.

    The new, high-stakes storyline has attracted both long-time fans and new viewers, propelling it to record-breaking earnings.

    What You Should Know  

    • The Uprising diverges from the earlier lighthearted social justice themes of the Wives on Strike franchise. This time, it follows a mother entangled in a high-stakes mission to save her son from kidnappers.
    • The story touches on family, resilience, and the risks people take to protect loved ones, adding a fresh edge to the series and setting it apart from its predecessors.
    • Bringing together Nollywood’s most notable talents, the film features celebrated actors like Uche Jombo, Ufuoma McDermott, Chioma Akpotha, and veteran Hilda Dokubo.
    • The cast also includes prominent faces such as Tomiwa Tegbe, Segun Arinze, Kalu Ikeagwu, Julius Agwu, and Okey Bakassi, each delivering powerful performances that enhance the film’s emotional depth and intensity.

    This film marks Oboli’s return to directing after a five-year break, as well as her 10th anniversary in the industry. Known for her contributions to Nollywood’s growth, Oboli brings her distinct vision to The Uprising, teaming up with writer Cheta Chukwu to deliver an impactful, high-stakes story that pushes the boundaries of Nollywood storytelling.

    Following its success in Nigeria, The Uprising is set to premiere in the UK on November 8, with distribution handled by Nile Entertainment.

    Deborah Dan-Awoh is a seasoned lifestyle analyst with a knack for storytelling. The focus of her work covers people, money and culture as it relates with business and economy. When she’s not keeping tabs on the latest trends in lifestyle and finance- Deborah enjoys networking with industry experts to gain insight into major markets as it affects the populace

     

    Box Office EarningsNollywoodThe Uprising: Wives on Strike 3

  • USAID commits $2.3m to purchase malaria drugs in Nigeria

    USAID commits $2.3m to purchase malaria drugs in Nigeria

    The United States Agency for International Development (USAID) has announced a $2.3 million commitment to purchase malaria treatment tablets, a significant boost for public health efforts in Nigeria.

    This announcement was made via a statement issued by the United States (US) embassy in Abuja, Nigeria, on Tuesday, November 12.

    This procurement, to be facilitated through the U.S. Government’s President’s Malaria Initiative (PMI), underscores the United States’ dedication to advancing Nigeria’s healthcare infrastructure and ensuring life-saving treatments reach vulnerable communities.
    “The U.S. Agency for International Development (USAID) has committed $2.3 million to procure 4.8 million doses of life-saving malaria tablets from Swiss Pharma (Swipha) in a landmark partnership that will expand access to essential medicines in Nigeria and West Africa,” the statement read.

    USAID’s investment highlights an ongoing focus on providing life-saving treatments to communities vulnerable to malaria.

    Strengthening Nigeria’s healthcare with global-quality medicines
    Nigeria has faced significant challenges in procuring affordable, high-quality medicines due to the high cost of production. Many local pharmaceutical companies face high costs and struggle to meet international quality standards.

    According to the World Health Organization (WHO), fewer than 10% of medicines manufactured in sub-Saharan Africa meet global standards, limiting local companies’ ability to supply essential drugs and meet healthcare needs.

    These barriers have particularly affected access to medicines for malaria and child health, as local production has often fallen short of both quality and quantity requirements.

    In response, USAID partnered with Swipha in their efforts to attain World Health Organization (WHO) prequalification for sulfadoxine/pyrimethamine (SP) tablets, a vital medicine for malaria prevention during pregnancy.

    Swipha is now the first pharmaceutical company in Nigeria and in West Africa to achieve this WHO certification, marking a critical step forward for the region’s pharmaceutical capacity.

    “USAID’s support was pivotal in helping us reach this milestone,” said Swipha Managing Director Frederic Lieutaud. “The WHO prequalification not only validates our commitment to producing high-quality medicines but also enhances our capacity to scale production and serve both local and international markets with trusted, essential medicines.”

    With the WHO prequalification, Swipha is well-positioned to expand its reach, supplying these essential medicines to international donors and procurement agencies, ultimately strengthening healthcare delivery across Nigeria and the broader West African region.

    This achievement also represents a significant boost to Nigeria’s healthcare system by enhancing local manufacturing capacity and contributing to public health efforts to combat preventable diseases.

    Building a healthier future through collaboration
    USAID Mission Director to Nigeria, Melissa Jones, said this achievement is a testament to the power of collaboration in improving healthcare in Nigeria.

    “We are proud to have supported Swipha in reaching this milestone and look forward to continuing our partnership to ensure more quality medicines reach those who need them most. Together, we are building a healthier future for Nigeria.”

     

     

     

  • Nile Group secures royal partnership to launch 1,000 screens in 5 Years

    Nile Group secures royal partnership to launch 1,000 screens in 5 Years

    Nile Cinemas has secured a historic partnership with His Imperial Majesty, the Ooni of Ife, to manage Ojaja Cinemas in a project that aims to transform the Nigerian movie entertainment landscape.

    This alliance plans to launch 1,000 cinema screens across Nigeria over the next five years, beginning with locations in Ile-Ife, Akure, and Lagos.

    The management handover took place in a ceremonial signing on October 29, 2024, attended by the Ooni of Ife and his wife, Olori Ronke Ademiluyi Ogunwusi.

    Speaking at the event, the Ooni highlighted the project’s potential impact on Nigerian youth employment through his 1,000-acre Ojaja Film and Talent City.

    “I am not an expert, but I am using my platform as a monarch to create employment for Nigeria’s young and growing population. We cannot rely solely on the government, and that’s why I decided to establish the Ojaja Film and Talent City,” he stated. 

    This expansive creative hub in Ile-Ife, inaugurated on October 17, 2024, by former Minister of Works and former Lagos State Governor, Babatunde Fashola, alongside Osun State Governor Ademola Adeleke, aims to foster film production and talent development on a large scale.

    The Ooni praised Nile’s CEO, Moses Babatope, for his pioneering contributions to Nigeria’s film industry. Babatope, who previously revolutionized the cinema landscape with FilmOne, shared Nile’s vision for an elevated entertainment ecosystem.

    “We are building an entertainment ecosystem that will redefine how Nigerians experience cinema,” Babatope emphasized.

    “Our vision extends beyond traditional cinema management to creating multiple revenue streams through strategic partnerships, premium experiences, and innovative content distribution.

    “This is the paradigm shift our industry has been waiting for, and Nile is ready to lead with major investments in technology, talent, and infrastructure.” 

    Several senior Nile Group executives attended the ceremony, including Biola Sokenu, COO; Dr. Bukky George Taylor, VP of Nile X Luxury Cinema; and Olalekan Oginni, Group Real Estate and Business Development Director.

    What we know 

    • The partnership includes the immediate management of Ojaja Cinemas’ Ile-Ife and Akure locations, introducing enhanced viewing experiences and advanced content distribution technologies.
    • Additionally, Nile Cinemas is expanding to incorporate THC Cinemax Ogba and Royal Roots Ikota, positioning it as West Africa’s fifth-largest cinema chain by the end of 2024.
    • Former Commissioner for Arts and Tourism, Uzamat Akinbile Yussuf, expressed support, calling the integration of THC Cinemax into the Nile Cinema Chain “a strategic alignment of our vision for entertainment innovation in Nigeria.” Similarly, Mr. Greg Odutayo of Royal Roots Cinema endorsed Nile’s capabilities, affirming, “We trust Nile to deliver a world-class entertainment experience for Nigerians.”
    • This ambitious partnership between Nile Group and Ojaja Cinemas sets a bold new course for Nigerian cinema, with far-reaching implications for the entertainment industry and youth employment across the nation.

    Deborah Dan-Awoh is a seasoned lifestyle analyst with a knack for storytelling. The focus of her work covers people, money and culture as it relates with business and economy. When she’s not keeping tabs on the latest trends in lifestyle and finance- Deborah enjoys networking with industry experts to gain insight into major markets as it affects the populace

     

  • World Diabetes Day: Group laments as insulin prices soar beyond reach for average citizen in Nigeria

    World Diabetes Day: Group laments as insulin prices soar beyond reach for average citizen in Nigeria

    The Network of Persons Living with Diabetes in Nigeria has raised concerns over the country’s insulin crisis, as rising prices push patients toward cheaper but riskier alternatives, increasing their chances of serious health issues.

    Marking World Diabetes Day 2024 with the theme “Diabetes and Wellbeing,” the group and its partners stressed the urgent need for improved diabetes care in Nigeria.

    Speaking at the Patients Advocacy march in Abuja, Comrade Bernard Enyia, Vice President II of the Diabetes Association of Nigeria, urged the federal government, policymakers, and key stakeholders to work towards ensuring that persons living with diabetes in Nigeria have access to equitable, comprehensive, affordable and quality treatment and care.
    Enyia, who also co-chairs the National Action on Sugar Reduction Coalition, stressed that prioritizing both the physical and mental health of diabetes patients can be achieved through strong health policies on diabetes.

    He appealed to policymakers to prioritize quality care and fiscal health policies that address diabetes and other non-communicable diseases (NCDs).

    Enyia emphasized that diabetes care must be accessible to all, noting that physical and mental health must take precedence over profit.

    Enyia, who lives with type 2 diabetes, cited alarming statistics from the International Diabetes Federation (IDF): globally, over half a billion people are now diabetic, with 11.2 million of them in Nigeria—more than half undiagnosed.

    “In 2021, diabetes claimed 48,375 lives in Nigeria and cost ₦1.81 trillion ($1.81 billion USD) in health expenditures. NCDs now account for 29% of annual deaths in the country, with diabetes leading the charge.

    “Also, 29% of annual deaths in Nigeria are caused by Non-Communicable Diseases with diabetes at the top,“ he said.

    According to him, diabetes impacts both the physical and mental well-being of millions of people with diabetes and this segment of the population faces daily challenges managing their condition at home, workplaces, and school.

    “Over 1 in 3 people with diabetes are estimated to experience distress and untold hardship related to their condition.”, adding that over 60% of people surveyed by IDF indicate that the fear of developing diabetes-related anxiety, depression, and complications puts a toll on their well-being.

    Indeed, diabetes care often focuses only on managing blood sugar, leaving many overwhelmed and subject to burnout and depression.

    “Urgent action is needed to ensure that personal well-being is prioritized over profits in diabetes health care systems,” Enyia said.

    Insulin crisis in Nigeria
    A core concern raised was Nigeria’s insulin crisis, which has left many diabetics without access to affordable treatment. Enyia asserts that, presently, there is an insulin Crisis in Nigeria, the prices have skyrocketed beyond the reach of the common man forcing them to resort to cheaper alternatives with a higher risk of breaking down with complications and avoidable deaths.

    “Lantus Insulin injection, for instance, increased from N3500 two years ago to N75,000 in 2024.

    “Also, the cost of a blood sugar testing machine (Glucometer) which used to sell for N6000 two years ago is now sold at N30,000, a single blood sugar test in the public hospital is N2000, and even more in private hospitals, a pack of test strips now goes for N15, 000, in sales outlets (Pharmacy shops).

    “This price hike has forced many to turn to cheaper, less effective alternatives, risking complications and even death, “ he explained.

    Impact of Sugar-Sweetened Beverages (SSBs)
    Enyia pointed to Nigeria’s high consumption of sugar-sweetened beverages (SSBs)—the highest in Africa and seventh globally—as a contributing factor to the NCD crisis. High SSB consumption, with little nutritional value, has been linked to obesity, type 2 diabetes, hypertension, and other diseases.

    “NCDs, including diabetes, contribute to 447,800 annual deaths in Nigeria.”

    The Network of Persons Living with Diabetes advocates for a robust tax increase on SSBs, raising it from 1.67% of the retail price to 39% in alignment with World Health Organization (WHO) recommendations.

    This increase could generate an estimated ₦729 billion ($471.8 million USD), which could be directed towards diabetes care and prevention programs.

    Ending discrimination and ensuring equitable healthcare
    Enyia criticized the disparity in Nigeria’s healthcare system, where diabetics often face stigma and discrimination.

    While patients with HIV, leprosy, tuberculosis, and neglected tropical diseases receive free tests and treatments, diabetics are forced to pay out-of-pocket for every aspect of their care.
    He called this practice unfair and a direct contradiction of the UN’s Sustainable Development Goals (SDGs), specifically Goal 3 on health and well-being and Goal 10 on reducing inequalities.
    “Our country provides mosquito-treated bed nets to homes, but we living with diabetes are left to pay every kobo for our treatment, enduring catastrophic health expenses,” Enyia lamented. “This is not equity, and it’s against the SDGs. The government must act to end this marginalization.”

    Call to Action: Reforming SSB Tax for Diabetes funding
    The Network urges the Nigerian government to increase the SSB tax from ₦10/L to ₦130/L, which would discourage excessive consumption, generate revenue, and reduce healthcare costs. Such a tax could help achieve key global diabetes targets by 2030, including:

    80% of diabetics diagnosed
    80% achieving glycemic and blood pressure control
    60% of diabetics over 40 on statins
    100% having affordable access to insulin and glucose monitoring
    Enyia and the Network are calling on the Federal Ministry of Health, Federal Ministry of Finance, and related stakeholders to take immediate steps to alleviate the burdens facing Nigeria’s diabetic population.

    With comprehensive policy reform, the Network argues, Nigeria can improve the well-being of diabetics, reduce NCD-related productivity loss, and promote a healthier future.