32 C
Lagos
Friday, November 15, 2024
Home Blog Page 49

OONI OF IFE REVEALS HOW OLUWO OF IWO CHASED HIM OUT OF PALACE

0
< 1 mn read

The Ooni of Ife, Oba Adeyeye Ogunwusi, has shared an incident where he was chased out of the palace of Oluwo of Iwo, Oba Abdul-Rasheed Akanbi. This revelation came in a video that trended on social media over the weekend.

Speaking in Yoruba, the Ooni explained that during a visit to the Oluwo’s palace, he was treated dismissively, saying, “When I visited Oluwo, he chased me out like a child. Since that incident, I have always kept my distance from him. Now that you people are urging me to visit him again, what if he acts in the same manner?”

Despite the event, the Ooni emphasized that as an elder, he has chosen to be patient with Oluwo’s behavior, stating, “But I have to contain his excesses as an elder, although I am a young person sitting on the throne of the elders. Oluwo, I greet you.”

The Ooni of Ife has consistently advocated for unity among traditional rulers in the region and across Nigeria, while the Oluwo of Iwo has sparked controversy, particularly with his opposition to idol worship, which has been a point of contention among Yoruba traditional rulers.

NIGERIAN ARMY DEBUNKS DEATH RUMORS OF CHIEF OF ARMY STAFF

0
< 1 mn read

The Nigerian Army has refuted rumors circulating on social media about the death of Chief of Army Staff, Lt. General Taoreed Lagbaja. Through its official X handle, @HQNigerianArmy, the Army labeled these speculations as fake news.

The rumors gained traction after an online platform claimed that the Army Chief had died of cancer. In response, the Nigerian Army released a statement urging the public to disregard the false reports, saying, “Please, disregard the rumours circulating about the death of the Chief of Army Staff, Lt. Gen. Taoreed Lagbaja. The false reports purported by unverifiable sources are baseless and misleading.”

The Army stressed the need for the public to rely on credible sources for accurate information and cautioned against misinformation from unreliable outlets.

NIGERIAN ARMY DENIES RUMORS OF CHIEF OF ARMY STAFF’S DEATH

0
< 1 mn read

The Nigerian Army has officially debunked rumors circulating on social media regarding the death of Chief of Army Staff, Lt. General Taoreed Lagbaja. The army’s official X handle, @HQNigerianArmy, labeled the speculations as fake news.

This clarification follows a report from an online platform that claimed, “Chief of Army Staff dies of cancer,” which had gained traction among users yesterday.

In a statement, the army urged the public to disregard these rumors, stating, “Please, disregard the rumours circulating about the death of the Chief of Army Staff, Lt. Gen. Taoreed Lagbaja. The false reports purported by unverifiable sources are baseless and misleading.”

The army emphasized the importance of relying on credible sources for information and advised the public to be cautious of misinformation from unreliable outlets.

NERC HOLDS STAKEHOLDER MEETING TO ADDRESS POWER GRID COLLAPSES IN NIGERIA

0
2 mn read

The Nigerian Electricity Regulatory Commission (NERC) has called a stakeholders meeting to investigate the reasons behind the recent collapse of the Nigerian power grid, which occurred three times in the past week, leaving the country without public power supply for several hours.

The national grid experienced two collapses last Monday and again on Saturday, jeopardizing the federal government’s goal of achieving 6,000 MW of electricity supply by the end of the year. Data from Vanguard indicated that as of 3:25 p.m. on Saturday, the Distribution Companies (DisCos) received a total load allocation of 4,031 MW, with individual allocations as follows: Abuja DisCo (650 MW), Benin DisCo (339 MW), Eko DisCo (531 MW), Enugu DisCo (322 MW), Ibadan DisCo (498 MW), Ikeja DisCo (623 MW), Jos DisCo (245 MW), Kaduna DisCo (200 MW), Kano DisCo (200 MW), Port Harcourt DisCo (301 MW), and Yola DisCo (121 MW).

In a statement on its official X account, NERC emphasized that, under Section 48, subsection 1 of the Electricity Act 2023 (Amended), it is mandated to conduct public hearings on critical issues within the Nigerian Electricity Supply Industry (NESI). The commission expressed concern over the recent increase in grid disturbances that have led to widespread outages, reversing many of the improvements made in reducing infrastructure deficits and enhancing grid stability. NERC has scheduled a hearing for Thursday, October 24, 2024, inviting NESI stakeholders, civil society organizations, and the public to participate.

Chief Princewill Okorie, Chairman of the Association for Public Policy Analysis, stated that a thorough investigation of the entire power sector value chain is essential. He highlighted the ongoing issue of consumers paying for services not rendered while operators continue to profit.

Mazi Colman Obasi, National President of the Oil and Gas Services Providers Association of Nigeria, expressed skepticism about the effectiveness of the public hearing, citing previous hearings that yielded little improvement. He suggested that modern technologies could enhance communication and information gathering, allowing regulators to track power distribution more effectively.

“What would the public hearing do about the collapse of the national grid or providing prepaid meters to consumers?” he questioned.

RETURNING TO TRADITIONAL HABITS: CHEWING STICKS MAKE A COMEBACK IN NIGERIA

0
< 1 mn read

We are now reverting to old ways of living in Africa, largely due to the excruciating economic conditions Nigerians are currently facing.

The days when we competed over the brands and qualities of toothpaste seem to be long gone. Nowadays, even the most basic toothpaste options cost an arm and a leg, leaving only the super-rich able to afford them.

For the average family, relying on God’s mercies for a moderate one or two meals a day, spending N5,000 on toothpaste that may last only two weeks for a family of seven is seen as a misplaced priority.

As a result, it’s no surprise that chewing sticks have returned to the forefront of family hygiene essentials, as discovered by Economy&Lifestyle.

Originally, chewing sticks were a valued hygiene therapy primarily for dental care due to their high medicinal properties. Traditionally sourced from plants known for their medicinal benefits, families in the past insisted that every member use them every morning as part of their oral hygiene routine.

However, the advent of modern civilization led to the decline of this practice as toothpaste became more popular.

Now, the harsh economic climate has revived this age-old habit. Mr. Vincent Osamese, a photographer, shared that he reintroduced the use of chewing sticks in his household after spending N4,000 on toothpaste within just three weeks.

“Few months ago, I introduced the use of a chewing stick in my house when I spent N4,000 for toothpaste in three weeks,” he explained.

As the cost of living continues to rise, many families are embracing this practical and cost-effective alternative, reflecting a significant shift back to traditional practices that prioritize both health and economic sustainability.

A NIGHT OF GLITZ AND GLAMOUR AT THE GRAND AWARD NIGHT CELEBRATING NLNG’S MILESTONES

0
2 mn read

The occasion was aptly named a Grand Award Night themed, “The Future.” It was a night filled with glitz and glamour, enveloped in an atmosphere of camaraderie and celebration.

This spectacular event marked Nigeria LNG Limited’s 35 years of incorporation, 25 years of exceptional operations, and 20 years of the Nigeria Prizes. It brought together eminent individuals from diverse fields to relive and appreciate the accomplishments of the company, which go beyond mere gas production.

From the moment guests arrived, the air was filled with class, elegance, and splendor, reflecting the high esteem in which they held their host. Stunning hostesses, adorned in outfits that embodied the theme “The Future,” greeted attendees at every corner of the glittering hall. Many guests initially mistook these futuristically dressed hostesses for artificial intelligences, such was the impact of their striking costumes.

On Friday, October 11, 2024, the Eko Hotels and Suites was transformed into a venue celebrating the beauty of the Nigerian people. Guests began arriving well before the 5 PM start time, enjoying cocktails and networking in an upscale ambiance.

Once inside the main hall, guests were welcomed by comperes Kunle Remi, an actor and film producer, and Temi Badru. The event honored the winners of The Nigeria Prize for Science and The Nigeria Prize for Literature, showcasing the achievements of Nigeria’s brightest minds.

The entrance of His Majesty, King Edward Asimini William-Dappa Pepple III, CON, DSSRS, JP, Perekule XI, Amanyanabo and Natural Ruler of the Ancient Grand Bonny Kingdom, was a thrilling sight. He made his entrance accompanied by a vibrant procession of dancing masquerades clad in bright red costumes, setting a jubilant tone for the evening.

A major highlight of the event was the NLNG @ 35 Documentary, which chronicled the company’s journey from its inception to becoming a global powerhouse in the LNG industry. The documentary revealed that, like many success stories, NLNG faced its share of challenges before realizing its vision.

The night was a testament to Nigeria LNG Limited’s significant contributions to the nation’s development and a celebration of the promising future ahead.

MANUFACTURERS ASSOCIATION OF NIGERIA TO ADDRESS SECTOR CONSTRAINTS AT 52ND AGM

0
< 1 mn read

The Manufacturers Association of Nigeria (MAN) is set to convene its 52nd Annual General Meeting (AGM) from October 22 to October 24, 2024, at the Lagos Oriental Hotel, Victoria Island, Lagos. The theme for this year’s AGM is “The Imperatives of an Intentional Development of the Nigerian Manufacturing Sector.”

The AGM aims to address the numerous constraints that are hampering the growth and competitiveness of Nigeria’s manufacturing sector. MAN President Otunba Francis Meshioye expressed concerns about the high and rising costs of operation, which are shrinking profitability and threatening the survival of many businesses within the sector. He emphasized that the manufacturing sector, which is crucial for job creation and productivity, is facing a range of challenges that hinder its contribution to the nation’s Gross Domestic Product (GDP).

Meshioye stressed the urgency of tackling these constraints to enhance the competitiveness of local products. He warned that without immediate action, the Nigerian economy may continue to decline, lacking a clear path to recovery.

He reaffirmed MAN’s commitment to collaborating with the government to present policy inputs and develop innovative solutions aimed at revitalizing the economy. Meshioye stated, “We shall continue to partner with governments with a view to co-creating innovative solutions that will free the Nigerian economy from its lackluster performance and place it on the path of productivity, sustainable growth, and development.”

The upcoming AGM will provide a platform for stakeholders to discuss these critical issues and explore strategies for fostering a more robust and competitive manufacturing sector in Nigeria.

NIGERIAN STOCK MARKET SEES BULLISH TREND FOLLOWING ARADEL HOLDINGS PLC LISTING

0
< 1 mn read

The Nigerian stock market maintained a bullish sentiment last week, buoyed by the listing of Aradel Holdings Plc, which significantly contributed to an increase in the Nigerian Exchange Limited (NGX) market capitalization. The market cap rose to N59.425 trillion, up from N56.088 trillion the previous week.

Key Highlights:

  • Market Capitalization Boost: Aradel Holdings added N3.1 trillion to the total market capitalization upon its listing on the Mainboard of the Exchange on Wednesday.
  • NGX All Share Index Performance: The stock market grew by 0.5%, with the NGX All Share Index (ASI) closing at 98,070.28 points, compared to 97,606.63 points the previous week.
  • Top Performers: Transpower saw a significant price increase of 19.29% Week-on-Week (WoW), followed by GTCO at 2.04% WoW and Transcorp Hotels at 7.78% WoW, which bolstered overall market performance.
  • Decliners: Conversely, UBA experienced a decline of 4.15% WoW, Stanbic IBTC fell by 1.84% WoW, and Nestlé dropped by 2.25% WoW.

Market Dynamics: Analysts noted that the positive market reaction was influenced by impressive Q3 financial results released, providing insights into expected performance by the end of the current financial year. They emphasized that the ongoing pullbacks, portfolio rebalancing, and sector rotation have created buying opportunities for investors seeking valuable stocks.

Analyst Insights: According to analysts at InvestData Consulting, the interplay of earnings news and other market dynamics is crucial for navigating the stock market effectively. They stated, “We cannot underestimate the capacity of earnings news and other factors that drive strength or weakness of any market.” They further highlighted that discerning investors are repositioning their portfolios to focus on sectors and companies expected to perform well, particularly in light of upcoming quarterly earnings reports.

Overall, the market’s current phase of correction or pullbacks is seen as an opportunity for savvy investors to align their portfolios with high-potential stocks.

APC IN ESAN NORTH EAST PROTESTS INCLUSION OF NON-MEMBERS IN GOVERNOR-ELECT’S TRANSITION COMMITTEE

0
< 1 mn read

The All Progressives Congress (APC) in Esan North East local government area of Edo State has voiced strong opposition to the composition of the 24-member transition committee appointed by the governor-elect, Senator Monday Okpebholo. The party claims that several individuals on the committee are not affiliated with the APC.

During a press briefing on Sunday, Emmanuel Ibhagbemien, the local government chairman of the APC, specifically highlighted the inclusion of former Speaker of the State House of Assembly, Matthew Egbadon, in the committee. Ibhagbemien accused Egbadon of collaborating with the opposition Peoples Democratic Party (PDP) during the September 21 governorship election.

He alleged that the inclusion of Egbadon was orchestrated by a business mogul and a traditional ruler from Edo Central, which he described as a blatant affront to the integrity of the APC.

“This inclusion is not only unusual but is clearly a calculated attempt to infiltrate our ranks and install individuals in key positions within the incoming administration,” Ibhagbemien stated. He emphasized that the party will not tolerate what he referred to as “intruders or opportunists” seeking to benefit from the party’s success without having contributed to it.

Ibhagbemien further identified the individuals behind this alleged maneuver, issuing a stern warning to them: “For their own sake, they must cease these unholy attempts to meddle in our party’s affairs.” He called out a prominent business mogul from Ewatto and a traditional ruler from Esan land for their involvement in Egbadon’s inclusion, asserting that their actions undermine the party’s values.

He concluded by urging the governor-elect to govern without undue interference, advocating for the formation of a government free from external meddling and allowing the APC to operate independently.

APC NATIONAL CHAIRMAN GANDUJE LEADS SUPPORT FOR GOVERNOR AIYEDATIWA IN ONDO STATE ELECTION

0
< 1 mn read

The National Chairman of the All Progressive Congress (APC), Abdullahi Ganduje, along with three South-West governors and other national leaders of the party, has pledged strong support for Governor Lucky Aiyedatiwa in the upcoming governorship election in Ondo State, scheduled for November 16.

The gathering, which took place in Akure, the capital of Ondo State, included key party figures such as Senator Ajibola Bashiru, the party’s National Secretary, and Hon. Isaack Kekemeke, the Southwest National Vice Chairman. The meeting also welcomed aggrieved leaders and governorship aspirants from the party to foster unity and collaboration.

During the meeting, Ganduje expressed confidence in the party’s ability to secure victory in the forthcoming election. He emphasized the importance of solidarity among party members, urging those with grievances to unite and work together as a cohesive team.

“Our target is to win the election; our mission is to assure that the party is solidly behind you,” Ganduje stated. He remarked on the successful reconciliation efforts within the party, highlighting that all stakeholders have committed to ensuring a strong performance at the polls.

The gathering was marked by a spirit of unity and determination, with Ganduje noting, “We are so encouraged by the unity, solidarity, and vigor, especially when we invited all those aspirants who contested.” He called for the APC family to consistently speak with one voice to maximize their chances of success in the upcoming election.

CALLS FOR NCAA TO ENFORCE SANCTIONS FOLLOWING REMOVAL OF NIGERIA FROM AWG BLACKLIST

0
< 1 mn read

The recent decision by the Aviation Working Group (AWG), co-chaired by Boeing and Airbus, to remove Nigeria from its blacklist has prompted industry stakeholders to urge the Nigerian Civil Aviation Authority (NCAA) to implement stringent measures against operators who jeopardize the country’s aviation reputation in the future.

The AWG’s decision came after the signing of the Cape Town Convention Practice Direction and the Updated Procedure for Recordation of Irrevocable Deregistration and Export Request Authorization (IDERA), which increased Nigeria’s global aviation rating from 70.5% to 75.5%.

Industry players, while celebrating this advancement as a significant win for Nigeria’s aviation sector, are calling for the NCAA to incorporate tough sanctions within the IDERA procedures. Experts have suggested that any operator attempting to pursue legal action against leasing companies should face severe penalties, including a minimum 10-year suspension of their Air Operator’s Certificate (AOC).

Chris Aligbe, CEO of Belujane Konzult, highlighted the importance of the new regulations, stating, “Now, there are laws that will deter operators from going to court to seek injunctions for the detention of a dry leased aircraft.” He noted that Nigerian courts would no longer grant such injunctions, marking a positive change from previous practices where judicial processes often hampered leasing agreements.

However, Aligbe emphasized the need for a deterrent in the form of sanctions against operators who attempt to initiate court proceedings, arguing that “the sanction must state that any airline that tries such should at least lose its AOC for almost 10 years.” He believes this would effectively discourage future violations.

Captain Ado Sanusi, Managing Director of Aero Contractors, echoed these sentiments, urging the Federal Government to leverage this positive development by partnering with leasing companies to facilitate the acquisition of more aircraft under dry lease agreements.

PDP DEMANDS REDEPLOYMENT OF ONDO STATE REC AHEAD OF GOVERNORSHIP ELECTION

0
< 1 mn read

As the November 16 governorship election in Ondo State approaches, the opposition Peoples Democratic Party (PDP) has reiterated its demand for the redeployment of the Independent National Electoral Commission (INEC) Resident Electoral Commissioner (REC), Oluwatoyin Babalola. The call was made in an open letter addressed to INEC’s National Chairman, Mahmood Yakubu.

The PDP attributed its request for Babalola’s removal to her close ties and established connections with the state and its residents. The party pointed out that Babalola is a bona fide resident of Ondo State, with her family permanently living at No. 3 Majekodunmi Street, Ijoka Area of Akure town, in Akure South. According to the party’s state secretary, Oluseye Jimi, this makes her an established member of the local community.

Jimi emphasized that the request for Babalola’s redeployment is crucial for preserving the integrity of Nigeria’s fragile democracy and restoring public confidence in the electoral process. The letter stated, “For the umpteenth time, we are calling on you, to as a matter of urgency, replace the Resident Electoral Commissioner, Mrs. Toyin Babalola, appointed and posted to Ondo State by INEC under your authority, with a non-partisan official with no previous association with Ondo State.”

The PDP urged INEC to treat this request with the seriousness and urgency it warrants, especially in light of recent statements from Governor Seyi Makinde of Oyo State, who called for the Ondo REC’s replacement. The letter reiterated that Makinde’s warning of continued protests by the PDP until their request is met should not be dismissed as an empty threat, noting that this is not the first time the party has raised this concern.

KINGSLEY MOGHALU APPOINTED PRESIDENT OF AFRICAN SCHOOL OF GOVERNANCE

0
2 mn read

Former Deputy Governor of the Central Bank of Nigeria (CBN), Professor Kingsley Moghalu, has been appointed the inaugural president of the African School of Governance (ASG), based in Kigali, Rwanda. His appointment took effect on October 1, 2024, following a global competitive search.

The establishment of the ASG was announced by African leaders over the weekend. This new independent, pan-African professional graduate school focuses on public policy and governance, aiming to tackle the continent’s pressing governance challenges by providing world-class education. The school will equip emerging leaders with the necessary mindsets, skills, and knowledge for effective leadership in Africa’s future.

The ASG was founded by Rwandan President Paul Kagame and former Ethiopian Prime Minister Hailemariam Desalegn, who consulted with other African leaders, academicians, and philanthropists committed to improving governance across the continent. The initiative is supported by the Mastercard Foundation and has a strategic partnership with the Lee Kuan Yew School of Public Policy at the National University of Singapore.

The school also has a distinguished independent Governing Board, chaired by Makhtar Diop, Managing Director of the International Finance Corporation (IFC) and former Minister of Finance and Economy of Senegal. Other board members include Donald Kaberuka, former President of the African Development Bank; Kishore Mahbubani, former Dean of the Lee Kuan Yew School of Public Policy; Hajer Gueldich, Legal Counsel of the African Union and former Professor of International Law at the University of Carthage, Tunisia; and Francis Gatare, CEO of the Rwanda Development Board.

As the inaugural President of ASG, Professor Kingsley Moghalu, a globally recognized leader in public policy and governance, is set to guide the institution toward its ambitious goals. In addition to his role at the CBN, Moghalu has held senior positions in the United Nations system for 17 years and has lectured at prestigious institutions such as Harvard, Oxford, and The Fletcher School of Law and Diplomacy at Tufts University.

PETER OBI URGES NIGERIANS TO EMBRACE FORGIVENESS OVER HATE

0
2 mn read

The presidential candidate of the Labour Party (LP) in the 2023 election, Mr. Peter Obi, has called on Nigerians, particularly his supporters, to reject hate and bitterness, asserting that such sentiments have no place in the nation’s future.

Obi’s appeal came in response to criticisms regarding his birthday greetings to former Head of State, General Yakubu Gowon (retd), who celebrated his 90th birthday over the weekend.

Obi was among several prominent Nigerians, including President Bola Tinubu and former Presidents Olusegun Obasanjo, Goodluck Jonathan, Muhammadu Buhari, and former Military President General Ibrahim Babangida (retd), who paid tribute to Gowon. Gowon served as Nigeria’s military ruler during the 30-month civil war, a conflict that resulted in the deaths of over one million Nigerians, primarily ethnic Igbos.

Following his greetings, Obi faced backlash on social media from victims of the civil war, who felt he should not have honored someone they believe should not be celebrated.

In a lengthy tweet titled “Why I Congratulated Gen. Gowon at 90,” posted on his verified X account, Obi stated: “My felicitation with Nigeria’s former Military Head of State, General Yakubu Gowon, on his 90th birthday anniversary, which was celebrated by a cross-section of Nigerians, has been received with mixed feelings by some Nigerians, and some have expressed their sentiments publicly and privately to me.”

He continued, “I share in some of them and I feel that as a leader in the vanguard of providing direction for our country to shift base away from all our shortcomings, including the issues that caused our avoidable cruel civil war, I needed to show to the world that the ultimate heroism is forgiving the enemy and moving forward.”

Obi emphasized the profound impact of Nigeria’s civil war, stating, “Indisputably, the darkest part of our 64-year journey as a nation is the 30 months of civil war from 1967 to 1970, and God Almighty, whose way is not our way, must have a reason why He kept the chief prosecutor of the war, General Gowon, alive to be 90 years today.” He also mentioned the reconciliation efforts led by Chief Olusegun Obasanjo, who witnessed the end of the war.

He highlighted the evolving spirit of reconciliation in Nigeria, referencing the national burial of Biafra leader Dim Chukwuemeka Odumegwu Ojukwu on March 2, 2012, which occurred during his tenure as governor of Anambra State.

EMERGENCY NEC MEETING URGED TO AVERT CRISIS IN PEOPLES DEMOCRATIC PARTY

0
2 mn read

Amid escalating internal tensions within the Peoples Democratic Party (PDP), the Conference of National Ex-Officio members has warned that only the convocation of an emergency National Executive Council (NEC) meeting, scheduled for October 24, 2024, can avert a looming implosion in the party.

The warning follows what the group describes as a growing crisis among the party’s top leadership, stressing that failure to act could lead to dire consequences. They have also expressed support for the peace efforts initiated by the PDP Governors’ Forum, led by Bauchi State Governor Bala Mohammed.

In a statement signed by Dr. Yunana Ilya (North-Central), Dr. Nicholas Msheliza (North-East), Chief Madumere Chinemerem (South-East), Chief Patrick Agbe (South-South), Chief Faboyede Clement (South-West), and Alhaji Ibrahim Alhaji (North-West), the ex-officio members voiced deep concern over the state of affairs in the PDP. They highlighted what they termed a “dangerous turn of events” that threatens to destabilize the party.

The statement read: “As an integral part of NEC of our great party, and one of its last bastions with the grassroots, who believe in the resurgence of our party’s popularity, we have critically brainstormed and dispassionately resolved, as a matter of urgency, to call on the leadership of the party to ensure that the NEC meeting scheduled for October 24, 2024, holds.”

The group emphasized that the meeting would provide a platform for aggrieved members to voice their concerns and seek resolutions. They expressed dismay over the recent developments within the party’s leadership, stating that such events could shake the very foundation of the PDP.

Furthermore, they pointed out that the PDP constitution mandates the NEC to meet at least once every quarter and lamented the party’s failure to adhere to this provision. While acknowledging that internal disagreements remain unresolved, they praised the ongoing efforts of the PDP Governors’ Forum, led by Senator Bala Mohammed.

NIGERIA’S NON-OIL EXPORTS INCREASE BY 28.04% AS EFFORTS TO DIVERSIFY ECONOMY CONTINUE

0
< 1 mn read

Nigeria has seen a 28.04% increase in non-oil exports from the previous year, highlighting the country’s ongoing efforts to diversify its economy and reduce reliance on oil exports. This announcement was made by the Executive Director/CEO of the Nigerian Export Promotion Council (NEPC), Nonye Ayeni, during a recognition dinner in Lagos that honored top-performing non-oil export companies.

The event celebrated the resilience and innovation of industry leaders who have played a pivotal role in expanding Nigeria’s non-oil export capacity. Ayeni noted that a total of 273 distinct non-oil products were exported in 2023, encompassing a range of semi-processed goods and raw agricultural commodities.

Key exports highlighted by Ayeni included urea, cocoa beans, sesame seeds, soybeans, gold dore, cashew nuts, aluminum ingots, and hibiscus flowers. She stated, “These products have positioned Nigeria as a competitive player in global markets, bolstering foreign exchange inflows and contributing to the stabilization of the naira.”

Commending the efforts of exporters, Ayeni remarked, “Your contributions underscore Nigeria’s immense potential beyond oil and serve as an inspiration to other businesses to tap into opportunities in the non-oil sector.”

Additionally, she announced the launch of the “Double Our Non-Oil Export, DONE” initiative, aimed at doubling Nigeria’s non-oil exports in the coming years. This initiative aligns with the country’s industrial revitalization agenda and the renewed hope agenda, focusing on job creation, poverty alleviation, and sustainable economic development.

FEDERAL GOVERNMENT URGED TO HALT INCREASING PETROL PRICES AND CURRENCY FREE FALL TO AVOID MASS REVOLT

0
< 1 mn read

The President of the National Association of Academic Technologists (NASU), Dr. Makolo Hassan, has called on the Federal Government to take urgent measures to halt the increasing petrol prices and the free fall of the nation’s currency in order to avert a looming mass revolt. This advice was given during the union’s National Executive Council (NEC) meeting held in Abuja over the weekend.

Dr. Hassan lamented that the escalating cost of fuel has further driven up transportation and production costs, creating a ripple effect that exacerbates inflation. He stated, “Nigeria’s abundant crude oil, which should have been a blessing, has instead made the nation’s economy highly vulnerable to fluctuations in global oil prices.”

He pointed out that rather than fostering sustainable growth, the country’s over-dependence on oil has left it exposed to external shocks, resulting in economic instability. Despite years of discussions about diversifying the economy into sectors such as agriculture, manufacturing, and technology, Dr. Hassan noted that progress in this direction has remained largely elusive.

“The much talked-about diversification remains a mirage, with insufficient investments and policies to meaningfully shift away from oil dependency, leaving Nigeria’s economy stuck in a cycle of boom and bust dictated by volatile global oil markets,” he explained.

He further emphasized that increases in the prices of petroleum products are significantly influenced by the non-functional state of government refineries, which has resulted in the country being heavily reliant on fuel imports, despite being a major oil producer.

“The lack of domestic refining capacity forces the government and marketers to import refined products at international prices, which are subject to fluctuations and market volatility,” Dr. Hassan said. He concluded by stressing that this situation has placed a heavy burden on the economy and consumers alike, while also politicizing the petrol subsidy dispute.

AKWA IBOM STATE GOVERNMENT EXPENDS N208.16 BILLION ON INFRASTRUCTURAL PROJECTS

0
2 mn read

The Akwa Ibom State Government has spent N208.16 billion on both newly initiated and inherited projects as of October 18, 2024, according to Professor Eno Ibanga, Commissioner for Works and Fire Service.

In a press update on Sunday, Professor Ibanga emphasized Governor Umo Eno’s administration’s commitment to infrastructural development, stating that this expenditure is part of a strategic effort to expand and consolidate the state’s infrastructure.

“Since Governor Umo Eno assumed office on May 29, 2023, significant progress has been made in advancing infrastructure projects, both inherited and newly initiated under the ARISE Agenda,” Ibanga said.

He detailed that N47.93 billion has been allocated to 36 inherited Federal Government Projects (FGPC), while N4.04 billion has been invested in 51 emergency intervention projects passed down from the previous administration. This brings the total for inherited projects to N51.96 billion.

Additionally, the commissioner noted that 61 new projects have been initiated under the ARISE Agenda, with several already completed, including the Akpan Andem Market Amphitheatre, Christmas Village Arena, Atiku Abubakar Underground Tunnel, and Goretti Secondary School Road. A total of N151.66 billion has been spent on 50 ARISE Agenda projects, along with another N4.54 billion directed towards 11 emergency intervention projects.

“In total, the current administration has spent N156.20 billion on the ARISE Agenda projects. Combined with inherited projects, this brings the total expenditure to N208.16 billion,” Ibanga stated.

He reassured the public of the government’s commitment to completing all road projects inherited from previous administrations, as well as those initiated by the current administration, emphasizing that contractors will be held accountable to meet their deadlines as the rainy season comes to an end.

Regarding the delayed Tabernacle Road project, Ibanga attributed the holdup to the extensive excavation work required, which was hindered by heavy rainfall. “The excavation, which is recommended to go at least 11 meters deep, was hampered by persistent rains this year. Had contractors continued, there could have been accidents or subpar work,” he explained.

Ibanga also addressed the issue of heavy-duty trucks damaging intra-city roads by using routes not designed for them, which has resulted in significant wear on Ikpa Road and Uyo Village Road. In response, the government has already awarded contracts for the reconstruction of these roads, extending to Udoette Street.

CRISIS WITHIN LABOUR PARTY INTENSIFIES AS YOUTH LEADERS DISOWN ABURE AND AHANOTU

0
< 1 mn read

The crisis within the Labour Party (LP) has deepened as the Forum of National Youth Leaders of Political Parties (FNYLPP) has disowned Julius Abure and Kennedy Ahanotu, who currently serve as the national chairman and national youth leader, respectively.

In a statement released on Sunday, the Forum cited allegations of tenure expiration and other irregularities against Abure, whose leadership has faced contention since his tenure officially expired on June 8, 2024.

Comrade Eragbe Anselm Aphimia, the spokesman for the Forum, warned Ahanotu to cease presenting himself as the National Youth Leader of the Labour Party, stating that failure to comply would lead to consequences.

“Mr. Kennedy Ahanotu, the Deputy National Secretary of the Labour Party (LP), is hereby warned to desist from presenting himself as the National Youth Leader of the Labour Party, or else face consequences,” Aphimia stated.

He further cautioned Julius Abure to stop claiming the title of National Chairman, reiterating that both their tenures are illegal and unlawful.

The Forum highlighted that the Labour Party’s National Executive Council (NEC) meeting on September 4, 2024, appointed Senator Esther Nenadi Usman and Senator Darlington Nwokocha as Chairperson and Secretary, respectively, to lead a 29-member Labour Party Caretaker Committee (CTC) responsible for organizing congresses for the upcoming All-Inclusive and Expansive National Convention in 2025.

In light of these developments, the Forum has also endorsed Dr. Halimat Tejuosho for the position of Honourable Minister of Humanitarian Affairs and Poverty Alleviation.

FANI-KAYODE MOURNS THE SUDDEN DEATH OF CLOSE AIDE MARK NDIFEREKE

0
2 mn read

A former Minister of Aviation, Chief Femi Fani-Kayode, has announced the sudden death of one of his close aides, Mark Ndifereke, who passed away on October 13, 2024. Fani-Kayode shared the news through a message to Vanguard late Sunday night, expressing deep sorrow over the loss of Mr. Mark, who had worked with him for nearly three decades. Fani-Kayode described Mark as “like a son” and emphasized that his death was a significant blow.

“It is with great sadness that I announce the passing of my devoted Special Assistant, Mr. Ndifreke Saviour Mark, who was with me for no less than 34 years,” Fani-Kayode stated.

Circumstances Surrounding His Death

According to reports, Mark left home at 5:40 AM on Sunday, October 13, to attend morning Mass at the Catholic Church of Assumption in Asokoro, a church he regularly attended. After the service, he went to a hotel named Mildy Lodge and Apartments in Garki, Abuja.

Police investigations revealed that he checked into the hotel and spent some time with an individual. It was at this point that he allegedly slumped and died in that person’s presence. He was rushed to Asokoro District Hospital, where he was pronounced dead upon arrival and subsequently moved to the hospital morgue.

Ongoing Police Investigation

In the wake of his passing, the individual Mark was with at the time of his death has been taken into police custody. Fani-Kayode has called for a comprehensive criminal investigation and an autopsy to determine the cause of death. Additionally, the hotel receptionist has also been detained by the police, while the hotel manager and owner were invited for questioning earlier in the week. The hotel has been sealed off by police for further investigation, and the room where Mark stayed remains sealed.

Fani-Kayode conveyed the tragic news to Mark’s family, meeting with his wife, Barrister Patience Ndifreke-Mark, and his uncle, Mr. Clement Mathias. He assured them of his commitment to ensuring justice is served if any foul play is uncovered.

Reflection on Their Relationship

“Mark was like a son to me, and his passing is a huge blow,” Fani-Kayode expressed, highlighting the deep bond they shared over the years. The community and those close to them are mourning the loss of Mark, who played a significant role in Fani-Kayode’s life and work.

Skip to toolbar