Market
Manchester United linked with Getafe midfield star
Manchester United could make a shock summer move for Getafe midfield anchor man Mauro Arambarri. The Premier League side are rumoured to be in the market for midfield options ahead of the 2020/21 season and Ole Gunnar Solskjaer is looking to La Liga for options. The Red Devils have also been linked with a move for Atletico Madrid star Marcos Llorente, but with Los Rojiblancos demanding a minimum of €80m for the Spanish international, Arambarri is a much cheaper alternative. The Uruguayan was linked with a move to Atletico himself at the start of the current campaign, after establishing a reputation as one of the best defensive midfielders in the Spain under Jose Bordalas. However, that interest has now cooled from their domestic rivals, and United are planning a €20m swoop according to rep...
Sustaining economic empowerment through financial inclusion, energy access
Financial inclusion and provision of sustainable energy is at a turning point in Africa’s largest economy, Nigeria. With a population of over 200 million, about 50 per cent of the total population live in rural areas, and only 39 per cent of those living in rural communities have access to electricity. This is in addition to over 40 per cent of the entire population who are financially excluded or underserved. However, the proliferation of digital financial services in Nigeria – powered largely by growth in fin-tech companies – has catalysed an unparalleled increase in the current number of people with access to formal financial services, while further opening up opportunities to address power supply challenges across rural communities; a major feat instrumental towards achieving the broad...
NALDA to establish integrated farm estate in Ogun
The National Agricultural Land Development Authority (NALDA) says it has concluded plans to establish an integrated farm estate in Ogun State. The agency also said it would set up a cassava processing plant and train 200 graduates in the state in soil testing technology. These moves according to NALDA are in line with its determination to boost the Cassava value chain and job creation for youths in the country. The Cassava processing plant would compliment the Integrated Farm Estates to be established in the three Senatorial zones of the state. The farm estate would comprise of different agricultural activities which includes farming, processing and packaging areas, commodity market, residential areas and schools. Executive secretary of NALDA, Prince Paul Ikonne made this disclosure when h...
Police dismiss explosives in Oshodi market fire
Hours after Lagos Emergency Management Agency said its investigation showed some for of explosive or accelerant was used in the fire which gutted Oshodi Market, police has ruled out any explosive being involved in the incident. It signals a controversy over the cause of the fire, which started with an explosion on Thursday night. Lagos police spokesman Muyiwa Adejobi said police and expert investigations showed the fire was “not caused” by bombing or explosives. “The commissioner of police has debunked the rumour that the Oshodi market inferno was caused by bombing or explosives. The public is hereby urged to disregard such news or rumour,” said Adejobi. The CP visited the scene on Friday in company of Explosive Ordinance Disposal Unit (EOD) operatives to assess the scene and give their ex...
CBN governor vows to block maize importation
Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele on Thursday vowed to resist importation of maize as Nigerians have the capacity and capability to grow the crop locally to meet consumption demand. On that note, he has urged youths across the country to embrace agriculture, declaring the bank’s readiness to support those ready to venture into it. Emefiele made the declaration in Katsina at the unveiling of the first maize pyramid and flag-off of the 2021 maize wet season farming under the CBN-Maize Association of Nigeria (MAAN) Anchor Borrowers’ Programme. He averred that Nigerian youths could leverage their talents, along with technological tools to improve farm productivity and delivery of agricultural produce to markets. While noting that agriculture offered significant benefi...
NBMA reiterates commitment to clamp down on GMOs
The National Biosafety Management Agency, NBMA, Tuesday, reiterated commitment to ensuring the eradication of Genetically Modified Organisms, (GMOs) in the country, as well as assuring Nigerians of safe products in the market. The Director-General of the NBMA, Dr. Rufus Ebegba, made the disclosure while addressing newsmen in Abuja, stating that Nigerians should be aware of the roles of the Agency in the proper regulation of GMOs in the country. He insisted that the NBMA has not been resting on its oars in ensuring that only safe and approved genetically modified seeds and grains for food and feed processing are allowed into the Nigerian market. Hence, he said, the constant upgrading of GM detection, analysis laboratory, and constant inspection of GMO facilities, confined field trial sites,...
Fake wine factory uncovered in Delta
The Delta State Police Command on Thursday said operatives have uncovered a factory where fake wine was being produced for public consumption. Acting Public Relations Officer of the Command, DSP Bright Edafe, who made this known in Asaba, said the suspected sole manufacturer of the fake wine was now cooling his heels in police custody. Edafe said operatives of the State Anti-Cult Unit (SACU) made the breakthrough during a sting operation in collaboration with civilian anti-cult volunteer corps. He said the suspect, one Kenneth Ajie, allegedly converted his house in Amadaga community in Ovwian, Udu, to the illegal factory where he produces the fake alcohol. The suspect, who produces fake wine in his house, operates without any license. ‘According to the suspect, he sells the wine for N300.0...
Women lament high cost of food items, consumables in Makurdi
Residents, particularly housewives in Makurdi, the Benue state capital, have lamented the increase in prices of food items. A survey conducted by NAN on Tuesday in Makurdi showed that prices of food items have been increasing on a daily basis. Many housewives interviewed by newsmen said that feeding their families has now become very difficult as the prices of essential food items have multiplied in the past few months. Mrs Rose Onazi, a housewife, said that the sharp rise in prices of various goods, especially food and household items, has made nonsense of the amount she receives as a monthly housekeeping allowance from her husband. Onazi said that many of the items she bought a week before had increased either by 50 per cent, 100 per cent or even more. She said that the development had s...
Zimbabwe street vendors reel under virus curbs
For years, Zimbabwean single mother Spiwe Tembo would sell buns on the streets of central Harare, earning enough to feed her three children. But her fortunes have dived. Since authorities banned street hawkers a year ago as part of a raft of measures to limit the spread of Covid-19, she plays cat-and-mouse with the police who comb the streets to rid them of vendors. “Things are tough,” the 34-year-old said, waving a packet of large buns to potential customers on a busy street in a part of Harare that locals call “Third World” because it is always teeming. She said: “We get arrested by municipal and national police. Almost daily I pay bribes to police officers to avoid getting arrested.” On the days she doesn’t have any cash, the inevitable happens and she is arrested and her wares seized. ...
Naira stable at parallel, official market
Nigeria’s naira remained stable against the U.S. dollar at the unofficial market on Friday, data posted on abokiFX .com, a website that collates parallel market rates in Lagos showed. The data posted showed that the naira closed at N485.00 at the black market, the same rate it exchanged hands with the greenback in the previous session on Thursday. Similarly, the local unit remained stable at the official market. Data posted on the FMDQ Security Exchange window where forex is officially traded showed that the domestic unit again closed at N410.00 at the trading session of the NAFEX window on Friday. Friday’s performance came to be as forex supply slumped significantly. The naira experienced an intraday high of N394.00 and a low of N436.40 before closing at N410.00 on Friday, the same rate i...
Wheat farmers bemoan $6.1 billion annual import, laud CBN restriction on forex for importers
The Wheat Farmers Association of Nigeria (WFAN) says about $6.1 billion is spent yearly to import wheat into Nigeria. The President of the association, Alhaji Salim Muhammad, made this known at a news conference on Wheat Forex in Abuja on Thursday. Muhammad commended the Central Bank of Nigeria (CBN) over the policy that placed wheat on Forex restriction. He described it as an impressive policy and a welcome development. According to him, Nigeria consumes 5 million metric tons of wheat per annum, while a meagre 420,000 tons is produced locally. He said that in view of numerous challenges that plagued local production, the policy would enable the government to unlock the unrealised potentials in the wheat sub-sector. “The forex restriction policy will give relevant stakeholders the confiden...
Minister: Rail transportation awakening giant to help run government
Nairaland Mr Rotimi Amaechi, Minister of Transportation, on Tuesday described the rail mode of transportation as the awakening giant that would run government. He made the disclosure at the virtual National African Continental Free Trade Agreement (AfCFTA) Implementation Engagement Series for the Rail sub-sector of Transportation. Amaechi, who was represented by Mr Ibrahim Mohammed, a Deputy Director at the Federal Ministry of Transportation (FMOT), noted that the Federal Government had invested heavily on the rail sub-sector of transportation to help facilitate trade. “The rail sub-sector needs consistent opening for the country to further tap into the agreement that AfCFTA creates. “This is why government has embarked on many projects, developing the narrow gauges and establishing standa...
