Businesses
PDP: Nigerians fed up with President Buhari’s government
The Peoples Democratic Party (PDP), on Sunday, maintained that Nigerians have become fed up with the Muhammadu Buhari administration and are now rallying under the main opposition party. In a statement issued in Abuja by its national spokesman, Kola Ologbondiyan, the PDP described the recent attack on it by presidential spokesman, Garba Shehu, “as a feeble kick of a weak horse, in another failed attempt to beguile Nigerians.” Recall that the presidential spokesman had described the PDP as “a university of lies.” The PDP said it is not surprised that “the Buhari Presidency is rattled by the bitter truth that Nigerians are fed up with President Muhammadu Buhari as well as his All Progressives Congress (APC) and are rallying on our platform to rescue our nation from misrule.” The party noted:...
Governor Abiodun: Agro-allied airport underway in Ogun
Ogun State Governor, Prince Dapo Abiodun, has disclosed plans by his administration to have an agro-allied based airport to aid the development of the state as a destination of choice for agriculture in Nigeria. Abiodun, who spoke during the inauguration of Agbeloba Aquaculture Hub in Owiwi, Obafemi-Owode Local Government Area of the state, said the agricultural sector remains the sure way out of poverty and unemployment ravaging the country. The project is being promoted by a former President, Chief Olusegun Obasanjo. While also expressing optimism that his administration believes that the state and the country as a whole can actually grow what it eats, the governor commended Obasanjo for continuously and tirelessly walking his talk on agriculture. He said, “We are looking at having an ag...
Coronavirus: FCT threatens to shut markets, malls
The FCT Administration has told shop owners to choose between complying with COVID-19 guidelines or having their business premises shut as part of measures to contain the pandemic. Head, Media and Public Enlightenment of the FCT Ministerial Enforcement Task team on COVID-19 Regulations, Ikharo Attah, issued the warning while monitoring the level of compliance in some shopping malls and business premises across the city. He said the administration will “not hesitate to shut down shopping malls, Maitama farmers’ market and business premises in the city that fail to comply with the COVID-19 protocols and guidelines. “From what we observed, there is high compliance by costumers and visitors to these malls and business premises, sadly, same cannot be said of the workers and operators of shops a...
Report: Jack Ma’s Ant Group considers overhaul due to regulatory pressure
Chinese financial technology giant Ant Group plans reorganisation that would allow it to be regulated more like a bank, Bloomberg reports. Jack Ma’s besieged Ant Group Co. is planning to fold its financial operations into a holding company that could be regulated more like a bank, according to people familiar with the situation, potentially crippling the growth of its most-profitable units. The fintech giant is planning to move any unit that would require a financial license into the holding company, pending regulatory approval, said the people, who asked not be named because the matter is private. The plans are still under discussion and subject to change, the people said. Ant declined to comment. The operations that Ant is looking to fold into the holding company include wealth managemen...
CBN: Naira to fall further in January
Barely five days to the end of the year 2020, the Central Bank of Nigeria has disclosed that a survey carried out by its Statistics Department revealed that the naira is expected to depreciate further in January 2021. The report, titled, ‘December 2020 Business Expectations Survey Report’ added that there might also be a steady rise in interest rate from December till the next six months. The naira witnessed a sharp fall in recent weeks, reaching its lowest on November 30, 2020, when it exchanged for N500/$1. Since then, the dollar has been hovering between N460 and N470. As of Friday, however, one dollar exchanged for 465 in the parallel market. Also, the Nigerian economy had on November 21 slid into its second recession in five years when the economy shrank again in the third quarter. Th...
Kebbi governor empowers 205 women vegetable sellers with N6.15 million
The Kebbi Governor, Alhaji Atiku Bagudu, on Sunday, donated N6.15 million to 205 women vegetables sellers in the state as part of efforts to encourage them to be self-reliant. Newsmen report that each of the 205 women received N30,000 from the donation, in order to boost their vegetable businesses. Gov. Bagudu, who announced the donation at the graduation of the benefitting women in Birnin Kebbi, said that all the women who benefitted from the program had received training in preservation of perishable items. “The comprehensive training of the women traders was conducted by the state chapter of the Kebbi State Vegetables Sellers Association,” he said, lauding the association for the unparalleled gesture that was worthy of emulation by other groups. “The association needs to be commended fo...
Christmas celebrated under pandemic’s shadow
Hundreds of millions across the world celebrated pared-down Christmas festivities on Friday due to coronavirus restrictions, as Pope Francis called for vaccines for everyone, describing them as “glimmers of hope in this period of darkness and uncertainty”. The pandemic has claimed more than 1.7 million lives and is still running rampant in much of the world, but the recent launching of mass vaccine campaigns has boosted hopes that 2021 could bring a respite. Like so many across the globe, the pope was forced to break with normal Christmas tradition, holding his annual “Urbi et Orbi” speech by video from the apostolic palace, to prevent a crowd from gathering in St Peter’s Square. “I call on everyone, on leaders of states, on businesses, on international organisations, to promote cooperatio...
Lai Mohammed: My only regret as minister
Nigeria’s Minister of Information and Culture, Lai Mohammed, has said his only regret as a minister is that some Nigerians have failed to appreciate that the administration of President Muhammadu Buhari is doing so much with little resources. Mr Mohammed stated this at a Special Forum of the News Agency of Nigeria (NAN) in Abuja. He said with dwindling resources, no government in the history of Nigeria has implemented programmes alleviating poverty among women and vulnerable groups as well as created jobs for the youth as the Buhari administration had done. The minister said his regret was that some Nigerians have failed to appreciate the efforts of the government but keep celebrating negative developments. “My regret in this government is that Nigerians have failed to appreciate that the ...
National Assembly raises 2021 budget by N580 billion, approves N13.588 trillion
The two chambers of the National Assembly yesterday passed the 2021 Appropriation Bill, increasing the budget size from N13.08 trillion presented to them by President Muhamnadu Buhari 11 weeks ago to N13.588 trillion. The passage of the 2021 budget followed consideration and adoption of harmonised reports separately submitted to them by their Committees on Appropriation. The two chambers increased the 2021 budget by about N580 billion and pegged daily crude oil production at 1.86 million barrels per day, while oil benchmark price was fixed at $40 per barrel. They approved N379 to dollar as the official exchange rate while GDP growth rate was pegged at 3 per cent. Highlights of the report approved by the Senate showed aggregate expenditure to be N13,588,027,886,175, statutory transfer of N4...
NAICOM: Don’t shun insurance despite inflation, harsh business environment
File Photo As businesses and individuals adopt cost reduction measures in response to rising inflation and the harsh business environment, the National Insurance Commission, NAICOM, has charged Nigerians to avoid the tendency to shun insurance of their assets. Commissioner for Insurance, Mr. Sunday Thomas, who gave the charge noted that despite the biting inflation in the country, even as people reduce the cost of expenses, this is not the best of time to reduce insurance consumption. Thomas stated this at a webinar organised by Coronation Insurance Plc in partnership with Access Bank Plc, with the theme: “Managing Business Risks at a Time of Uncertainty.” Thomas, who was represented by Mr. Taiwo Adeoye, Technical Adviser to the Commissioner for Insurance, noted that sometimes the gain in ...
Foundation feeds 1,000 Calabar orphans at yuletide
The Romeo Odey Cares Foundation has visited Infant Jesus Orphanage Home and Good Samaritan Home, both in Calabar, Cross River State, feeding over 1,000 orphans as part of its mission to cater for the most indigent members of society. A statement delivered to newsmen by the Brand Manager of the Foundation, Gidyon Thompson, explained that the gesture extended to helpless children from the streets of Calabar. The foundation, owned by network marketing expert Romeo Odey, said the gesture was a way of giving back to society. According to him, the move is part of Odey’s decision to affect humanity positively. He urged the federal and state government to step up and take responsibility for the children on the streets to avert impending doom. He added that the serial entrepreneur would launch two ...
AKK gas pipeline at 15 percent completion – NNPC chief
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Malam Mele Kyari, says the construction of Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline project is currently at 15 per cent completion. Kyari disclosed this at the inspection of the second leg of the project at Karogo community in Igabi Local Government Area, Kaduna State, on Tuesday. “The project is currently at about 15 per cent completion but what is important for us to know is that we are crossing the river Niger, what we call the Ndoni-Aboh river crossing in Rivers and Delta states that will deliver gas from the eastern part to the country into the western corridor. “That means expanding gas supply into the help line and also making gas ready. We are happy that this project is going on and we will deliver it...
