By Chiazo Ogbolu

Intels Nigeria Ltd., an oil and gas logistics company, has said its business has not been hindered by political influences from the present government.

The company made the clarification in a statement it issued on Tuesday, in Lagos.

It will be recalled that on Jan 4, Intels announced that it had severed ties with its former shareholder, former Vice President Atiku Abubakar, after the latter sold his interests in Intels’ parent company, Orlean Invest Holding.

The transactions were executed through Guernsey Trust, in deals that began in December 2018 and concluded in 2020.

However, Abubakar, who confirmed his divestment from the company, blamed President Muhammadu Buhari’s administration for trying to destroy the company because of political differences.

The spokesman for Intels Nigeria Limited–Orlean Invest Group, Tommaso Ruffinoni, said the company’s decisions had been devoid of political considerations as it had always operated according to market logic.

“Intels Nigeria Limited and its parent company, Orlean Invest Holding, in relation to some statements that appeared in the press yesterday and today, categorically deny that its business has at some time been hindered by political influences from the current government.

“The company has always operated according to market logic, thanks to its history and commitment to the development of the Nigerian economy in the oil and gas logistics sector.

“The ongoing contradictions are part of a natural commercial divergence, which will hopefully be resolved, as in the past, by a new approach, in the interest of all the parties, also according to the social role that Intels plays in the country. (NAN)

By Lydia Ngwakwe

The Tony Elumelu Foundation (TEF), on Friday in Lagos unveiled the TEF Entrepreneurship programme for 2021, to empower women and men across the African continent.

The Chief Executive Officer of TEF, Mrs Ifeyinwa Ugochukwu, disclosed this during an Online news briefing with Journalists across Africa.

She said: ” I want to welcome all of you as we unveiled the TEF Entrepreneurship Programme for 2021, the opening of the application portal which happened 12 midnight, Jan.1.

“As you all know, the TEF was founded in 2010, and in 2015, our founder, Mr Tony Elumelu, launched a 100 million dollars commitment to identify, train, mentor and fund 10,000 African entrepreneurs across all 54 African countries, over 10 years.

“So, 2021 marks the seventh edition of the TEF entrepreneurship programme,” she said.

She added that opening the portal on Jan. 1, marked a new beginning, a renaissance, a beginning of recovery and a beginning of Africa taking its space in the global space as a strong thriving economy, led by SMEs who are the largest generators of job creators on the African continent.

She said that the 2021 application would be different from what was done in the previous years.

“Previously when you apply for the TEF entrepreneurship programme, once you apply, you put in your business plan within the application and those selected will be trained and funded.

“But, this year, just as we did last year, we want to train a lot more than we would fund, primarily because the feedback we have got from our entrepreneurs is that trainings been critical to the success of their businesses,”she added.

Ugochukwu disclosed that the foundation had trained, mentored and funded over 9,000 African entrpreneur till date.

She expressed excitement that the Price Waterhouse and Coopers, in conjunction with TEF had completed an impact assessment report which according to her, would be released in the Q1, to mark its 10th year anniversary.

She also disclosed that the foundation had partnered with the European Union to fund and train additional 2,400 women on a TEF Entrepreneurship program for 2021.

According to her, this is in addition to many other partnerships that the foundation have been running through the years. (NAN)