News
Abdulsamad Rabiu Net Worth Declines By $1.1 Billion In 2024
Abdulsamad Rabiu, founder of BUA Group, experienced a $1.1 billion drop in his net worth, falling from $5.9 billion in January to $4.8 billion by the end of 2024.
Abdulsamad Rabiu Net Worth declined by $1.1 billion in 2024.
The wealth of Africa’s richest individuals took a hit in 2024, with the combined net worth of the continent’s top billionaires declining over the past 363 days.
According to data collated from Forbes estimates, only 10 of Africa’s 20 billionaires recorded significant gains or losses this year, with their collective wealth now standing at $61.4 billion—down from $63 billion at the start of the year.
This year, four of Africa’s wealthiest individuals collectively lost a staggering $4.5 billion from their fortunes, reflecting the profound impact of economic headwinds and market volatility on even the most robust industries. Delays in large-scale projects, declining asset values, and fluctuating markets contributed to these setbacks, affecting sectors like cement production, and energy.
Loss: $1.1 billion
Net Worth: $4.8 billion (Jan 2024: $5.9 billion)
Sector: Diversified
Abdulsamad Rabiu, founder of BUA Group, experienced a $1.1 billion drop in his net worth, falling from $5.9 billion in January to $4.8 billion by the end of 2024. Rabiu owns significant stakes in BUA Cement and BUA Foods, both of which have faced challenges in Nigeria’s industrial sector.
Despite the financial dip, Rabiu’s contributions to Nigeria’s cement production, sugar refining, and real estate industries remain unparalleled. With strategic adjustments, his industrial empire is poised for recovery and growth in the coming years.
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Delta govt suspends five head teachers for extortion
The Delta State Government has suspended five primary school headteachers for extorting pupils through illegal levies.
The action, announced in a statement from the State Ministry of Information, Asaba, and signed by the Permanent Secretary, Theresa Adiabua-Oliko, was made public on Friday, January 31, 2025.
Copies of the statement were distributed to journalists in Warri.
The statement noted that this decisive move was to end corruption in the education sector.
According to the statement, the suspensions followed “an investigation and an on-the-spot visit carried out recently by the Commissioner for Primary Education, Dr. Kingsley Ashibogwu, to schools across the state.”
The statement further disclosed that a formal request was made to the State Universal Basic Education Board for disciplinary action against the affected school heads, who were found guilty of imposing unauthorised levies on pupils taking the 2025 Cognitive and Placement Examination.
It further noted that the schools involved include: “Asamala Primary School, Ugiliamai (Ndokwa West LGA); Abraka Model Primary School, Abraka (Ethiope East LGA); Ekrejeta Primary School, Abraka (Ethiope East LGA); and Origin Primary School, Orogun (Ughelli North LGA).”
The government’s swift response underscores its unwavering zero-tolerance policy on corruption and its commitment to ensuring that the state’s educational resources are properly utilised.
“This administration will not condone any form of exploitation in our schools,” the statement warned, emphasizing that further punitive measures await any official found guilty of malpractice.
News
SAD: Akwa Ibom deputy Gov’s daughter given private funeral
The Deputy Governor of Akwa Ibom State, Sen. Akon Eyakenyi on Friday buried her late daughter, Blessing-Eyakenyi Olumuyiwa Adewumi.
The private funeral which took place in a cemetery in Uyo had family members and few close friends of the family in attendance.
Blessing Eyakenyi who got married 7 months ago died on Sunday, 5 months to her 30th birthday.
According to family sources to who spoke to TheMail, Blessing had a miscarriage following a 5-month pregnancy. Unsuccessful efforts were made to save her in hospitals in Port Harcourt and Owerri.
Governor Umo Eno had paid a condolence visit to the family at the Deputy Governor’s Lodge in Government House following his arrival from Lagos on Tuesday evening after being honoured at the ThisDay Newspaper Awards as ‘Governor of the Year’ a day before.
A memorial service in Blessing’s honour has been scheduled to take place on Wednesday, February 5, 2025 at Insight Bible Church, Uyo.
News
JAMB Postpones 2025 UTME Registration to February 3
By Kayode Sanni-Arewa
The Joint Admissions and Matriculation Board (JAMB) has announced a shift in the commencement date for the 2025 Unified Tertiary Matriculation Examination (UTME) registration. Initially scheduled to begin on Friday, January 31, 2025, the registration will now start on Monday, February 3, 2025.
According to JAMB, the adjustment is necessary to implement crucial changes to its registration templates. The modifications follow the recent suspension of certain law programs in selected universities, as communicated to the Board by the Council for Legal Education.
A statement issued by JAMB’s Public Communication Advisor, Fabian Benjamin, also revealed that the Board discovered that some Computer-Based Test (CBT) centers had secured approval through fraudulent means. This development has necessitated further scrutiny and the disqualification of such centers to ensure the integrity of the examination process.
“The Board acknowledges the disruption this may cause to candidates and other stakeholders and sincerely apologizes for any inconvenience,” Benjamin stated.
He assured that the additional time would be used to implement all necessary adjustments to facilitate a seamless registration process.
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