Market
Nigerian government receives stolen Ile-Ife artefact from Mexico
The Minister of Foreign Affairs, Chief Geoffrey Onyeama, on Thursday in Abuja received a stolen Ile-Ife artefact recovered from Mexico. Receiving the artefact, he called for a more secured border to prevent future occurrence of theft. Onyeama collected the artefact from Dr Yakubu Dadu, Charge d’Affaires of the Nigerian Mission in Mexico. The minister hailed the Embassy’s efforts in recovering the artefact. He said that the interventions of Nigerian Envoys in recovering stolen possessions of the country shows the important works they were doing as against negative reports of Nigerian missions on social media. Onyeama also appreciated the government of Mexico for its cooperation in ensuring that the artefact was duly returned to Nigeria. He however stressed the need for sensitising Customs o...
U.K. to open first LGBT+ retirement home as market grows
Britain’s first LGBT+ retirement home is set to open in mid-2021, the housing association behind the London riverside apartments said, highlighting a growing market of older people who do not want to be forced back in the closet. There is a critical need for housing for older LGBT+ people, said Anna Kear, Chief Executive of Tonic Housing, as many say it would be “terrifying” to live in a predominantly straight home where other residents did not accept them. “People say that if they get to that stage, they would rather (die by) suicide than go into a heterosexual care home or sheltered housing environment, which is just awful,” she told the Thomson Reuters Foundation. With an ageing population, the demand for specialist housing for older people is growing, with private retirement units acco...
Nasarawa government recommits to infrastructural development
Alhaji Yusuf Mada, the Special Adviser to Gov. Abdullahi Sule of Nasarawa State on Infrastructure, says the State Government is committed to the provision of infrastructure to improve the lives of the people. Mada stated this on Monday in Nassarawa Eggon while playing host to All Progressives Congress (APC) Wakama Ward stakeholders in Nassarawa Eggon Local Government Area of the state. The special adviser said the provision of infrastructure would also stimulate the state’s socio-economic activities, revenue base and the overall development of communities across the state. He said that the giant strides achieved by Sule was geared towards bringing the much needed dividends of democracy to the door steps of residents. “I want to commend you for the visit and to assure you of His Excellency,...
Plateau governor installs four traditional rulers
Plateau State governor, Simon Bako Lalong, says traditional rulers need to play a greater role in enhancing the security of their domains and the entire nation. Governor Lalong stated this while installing two second class chiefs in Wase local government area of Plateau State. The monarchs are Chief Lot Nden, Ponzhi Kadarko Chiefdom and Alhaji Muhammad Asi, Aku-Jukun of Mavo Chiefdom. While presenting the staff of office to the two traditional rulers after they took the oath of allegiance, Governor Lalong said the restoration of the two chiefdoms was in fulfilment of his campaign promise and the desire to meet the yearnings of the people in the spirit of equity and justice. He says any community leader or traditional ruler who is unable to assist security agencies towards arresting crimina...
Seplat issues $650 million oil and gas bond
Seplat Petroleum Development Company, a Nigerian independent oil and gas firm, has issued $650 million in aggregate principal amount of senior notes due in 2026. It is said to be the largest ever Nigerian oil and gas bond issuance. A senior note is a type of bond that must be repaid before most other debts in the event that the issuer declares bankruptcy. It is more secure than other bonds. The dual listed company said the five-year bond was well-received in the market with orders from high quality institutional investors. “The notes priced at a yield of 7.75%, representing a significant pricing reduction from its $350 million debut issuance in 2018, which priced at a yield of 9.50% , with a coupon of 9.25%,” a statement by the company read. “The offering was well oversubscribed with deman...
DPR: Market forces should determine gas prices
File Photo The Department of Petroleum Resources (DPR) has advocated that market forces should be allowed to determine gas prices to guarantee the security of supply and demand of the commodity. Mr Sarki Auwalu, the Chief Executive Officer, DPR, disclosed this while presenting keynote address at the pre-summit conference on “Decade of gas’, in Abuja, on Monday. Auwalu said that the right and market-based pricing of gas was critical, as it would assure producers of returns on their investments. He also outlined five critical levers for gas development, especially as Nigeria moves to leverage its abundant gas resources for national growth, diversification of the economy and to use gas as the fuel for economic transformation. According to him, the levers include availability, accessibility, a...
Minister tasks NSDC boss on ensuring self-sufficiency in sugar production
Otunba Adeniyi Adebayo, Minister of Industry, Trade and Investment, has tasked the newly appointed Executive Secretary of the National sugar Development Council (NSDC), Zach Adedeji to work towards the realisation of the Federal Government’s goal in ensuring self-sufficiency in sugar production. Speaking at the inauguration of Adedeji as the Chief Executive Officer of the NSDC at the weekend in Abuja, Adebayo said the Federal Government relied on him to work assiduously towards the realisation of the country’s self sufficiency in the sugar production. He noted that the appointment of Adedeji was based on his performance in his former positions, adding that the nation expected him to leave landmark achievements by the time he would be leaving office. “You are therefore expected to discharge...
Nigerian government mulls TCN’s unbundling, partial concession to boost power supply
The federal government is considering the unbundling and partial concession of the Transmission Company of Nigeria (TCN) to boost its efficiency in the government’s bid to improve power supply. Director, Energy, Bureau of Public Enterprises (BPE), Mr. Yunana Malo, said during the March edition of “the Electricity Hub” conversation series on power that the National Council on Privatisation (NCP) had directed that a proper strategy should be mapped out for the unbundling of TCN. He stated that the government believed that all the players in the energy value chain should be able to align with the needs of the power sector seamlessly, adding that the right environment is being created for the transmission component to match generation and distribution. Malo said data was key to making decision...
Senator Tinubu donates N50 million to victims of Katsina market inferno
The National Leader of the All Progressives Congress (APC), Bola Ahmed Tinubu, has donated N50 million to victims of Katsina Central Market fire incident and called for the reopening of the market to enable traders resume commercial activities. The former Lagos State governor, who announced the donation while addressing the affected traders at the ravaged market Wednesday, said he would continue to support the state government and the traders to rebuild the affected shops. Tinubu, who was accompanied to the scene by Governor Aminu Bello Masari; his Deputy, Mannir Yakubu and the Secretary to the State Government, Mustapha Inuwa, expressed shock over the fire disaster. He said the immediate reopening of the market would enable the victims to ascertain the number of properties lost and kickst...
Lagos governor: We are ready to domesticate AfCFTA agreement
Lagos State Governor, Mr Babajide Sanwo-Olu, says the state is ready to domesticate the African Continental Free Trade Area (AfCFTA) agreement. Sanwo-Olu said this on Tuesday when he received the Minister for Industry, Trade and Investment, Mr Niyi Adebayo, on a courtesy visit at the Lagos House, Ikeja. The minister led members of the National Action Committee on nationwide sensitisation on African Continental Free Trade Area (AfCFTA), which the nation entered into to deepen economic integration among African countries. He said that Lagos had observed the processes leading to the adoption of the continental trade agreement and positioned itself for market expansion across areas of collaboration. The governor said the state was ready to take advantage of the AfCFTA for growth, as a local ac...
Fire destroys shops, property worth billions of naira at Katsina central market
Hundreds of shops were burnt to ashes following a fire outbreak at Katsina Central Market on Monday, newsmen report. The fire started at around 8 a.m., on Monday, from some shops located at the centre of the market, before it spread to other parts. The fire is still raging as at about 12:30pm, in spite of efforts of firemen to contain it. The inferno had destroyed property worth billions of Naira, mostly belonging to traders selling clothings, shoes, kitchen utensils, carpets, plastics among others. Some of the traders affected said they had no idea how the fire started, but added that they had lost everything in their shops to the fire. Alhaji Harisu Abdullahi, whose shop was among those destroyed, said it was difficult to ascertain the cause of the fire, and has left everything in the ha...
NCAC boss: Promoting Nigerian food culture is collective responsibility
The Director General of National Council for Arts and Culture (NCAC), Otunba Segun Runsewe, has said the promotion of Nigerian food culture was a collective responsibility as it encourages healthy living, create employment opportunities for our teeming unemployed youths and open up business opportunities at the micro and macro levels. Runsewe, who disclosed this at a press conference in Abuja, said the media parley was intended to draw attention of Nigerians to the need to patronise made-in-Nigeria food, promote the Nigerian food culture and discourage the consumption of foreign foods most of which he said were preserved with chemicals that had long time negative effects on our human body. He added that all nations of the world were devising various strategies of mitigating the effects of ...
