Markets
NNPC commits to ensuring energy sufficiency, wealth creation for Nigerians
The Nigerian National Petroleum Corporation (NNPC) has reiterated its commitment to ensuring effective stewardship of the nation’s hydrocarbon resources to guarantee energy security and drive wealth creation in Nigeria. The Group Managing Director of NNPC, Mallam Mele Kyari, made this assertion while delivering the keynote address at the 2021 Nigeria Oil and Gas Conference and Exhibition (NOG 2021) on Tuesday in Abuja. Speaking on the topic: “Vision and Priorities for Nigeria’s Energy Transformation,” Mallam Kyari stated that for a nation with a teeming youth and a developing economy, Nigeria needed the right policies to unlock its huge economic potential, stressing that NNPC was working towards bridging the energy gap to multiply wealth for its varied stakeholders. “We see a nation that m...
Yobe governor: No plan to retrench workers
Gov. Mai Mala-Buni of Yobe on Tuesday said his administration has no plan to retrench civil servants in spite of the state’s meagre resources. Mala-Buni gave the assurance in Damaturu on the sidelines of the swearing-in ceremony of newly appointed permanent secretaries and board members. He said he would continue to attract investments to Yobe from both state and non-state actors in order to meet the financial obligations of the state. “People accuse me of frequenting Abuja; the truth is, if I remain in Damaturu, we cannot pay even our salary bills. “And that means we will have to join the league of states that are retrenching workers; we don’t have such plan. “You are aware of the projects we started, including the four modern markets we are building, the ongoing 3,600 houses, the over 87...
Ethiopia urges Tigray rebels to join ceasefire, hostilities persist
Ethiopia’s government urged Tigrayan rebels to join a unilateral ceasefire in their conflict on Thursday as aid agencies struggled to reach hundreds of thousands of people facing famine. The Tigray People’s Liberation Front (TPLF), the former rulers of Ethiopia’s Tigray region, said on Monday it was back in control of the regional capital Mekelle after nearly eight months of fighting. The government declared a unilateral ceasefire but the TPLF dismissed it as a joke. Hostilities persisted on Thursday and pressure built internationally for all sides to pull back. “Operations are under way … and the number of prisoners of war is increasing by the minute,” TPLF spokesman Getachew Reda told Reuters by satellite phone, with light artillery fire crackling in the background. “We are closing in on...
Facebook hits $1 trillion valuation for first time
Social media giant, Facebook, has hit a $1 trillion valuation, following a dismissal of two antitrust lawsuits against the company. Facebook’s stock closed higher on Monday at $355.64 per share which contributed to the trillion-dollar valuation, Business Insider reported. The rise came after a United States court dismissed complaints by the Federal Trade Commission and a group of state attorneys generals against the social networking company. The FTC has claimed that Facebook is exercising monopoly as the social media giant controls over 60% of the social-networking market. In the ruling of the case, US District Judge James Boasberg in Washington dismissed the claim, as he explained that there was no proof to support their claim. In a separate case, 46 state attorneys general formed a coal...
Senator backs Nigerian government on grazing routes
The Chairman, Senate Committee on Agriculture, Senator Abdullahi Adamu, has asked the Federal Government to go ahead with its plan to recover the old cattle grazing routes because herdsmen activities affect every part of the country. Adamu, who also served as a two-time governor of Nasarawa State, disagreed with those who argued that the Federal Government should not dabble into grazing issues because it had no constitutional powers to do so. The Senator, who spoke with newsmen in Abuja, said herdsmen needed the cattle routes because of the challenges they usually faced when they wanted to adopt other forms of transportation. He said the Federal Government should attend to the welfare of herdsmen just as it was providing basic amenities for others involved in private businesses across the ...
MTN to invest N640 billion to expand broadband access
MTN Nigeria plans to invest N640 billion (approximately US$1.5 billion) over the next three years to expand broadband access across the continent’s most populous country, in line with the federal government’s 2020-2025 National Broadband Plan and in support of MTN Group’s strategy, Ambition 2025: Leading digital solutions for Africa’s progress. ‘Nigeria is one of our most important markets. We have a proud history of partnering with Nigeria and Nigerians to drive faster and more inclusive growth through digital transformation,’ said MTN Group President and Chief Executive Officer Ralph Mupita after a three-day visit to Abuja and Lagos, in which he met a number of key stakeholders. These included President Muhammadu Buhari; Vice President Oluyemi Oluleke Osinbajo; Minister of Communications...
Unity schools old students condemn Kebbi abduction
Former students of unity schools across the country, under the aegis of the Unity Schools Old Students Association (USOSA), have decried Thursday’s attack on the Federal Government College, Birnin Yauri, Kebbi State during which scores of students and teachers were abducted by bandits. Mr Lawrence Wilbert, the National President of USOSA, in a statement made available to Daily Independent, on Friday, called for an end to such sad incidents in Nigerian schools. The statement read: “The Unity Schools Old Students Association (USOSA) unequivocally condemns the abduction of scores of students and staff of Federal Government College, Birnin Yauri in Kebbi State by bandits in the morning of Thursday 17th June 2021. We also decry the fact that a police officer was killed while some students and s...
Dangote Cement completes issuance of N50 billion bond programme
Dangote Cement Plc has announced the successful issuance of N50 billion series 1 fixed rate senior unsecured bonds, under its new N300 billion multi-instrument issuance programme. In a statement on Tuesday, the cement producer said the bonds were issued on May 26, 2021 at coupon rates of 11.25 percent, 12.50 percent and 13.50 percent for the three, five and seven-year tranches respectively. The bonds will be listed on the Nigerian Exchange Limited and FMDQ Securities Exchange. Dangote Cement said that the proceeds of the bond issuance will be deployed for the company’s expansion projects, short-term debt refinancing and working capital requirements. “Aside from this first issuance of a traditional bond under the new Multi-Instruments Programme, Dangote Cement has registered a programme ena...
June 12: Lagos markets shut, traders express fears
Despite Lagos State Commissioner of Police, Hakeem Odumosu’s appeal to Lagos residents to disregard any sit-at-home order by activists, marketers in Ogba axis of Lagos, shut their stores Saturday over fear of violent clashes between protesters and security agencies. A trader who pleaded anonymity told newsmen he had been at his shop since 6:00am but couldn’t open his shop because he was scared protesters may attack him. “Saturday market is the best because you have more people who couldn’t visit the market during the week come to the market to shop for the week. But I can’t open because I don’t know what form the protest will take. All the markets in my shop were secured by loan” he said. As observed, the Area G Police Station was peaceful and calm with no baracade, but four patrol vans we...
ITF chief: President Buhari providing quality leadership skills
Industrial Training Fund The Director General of Industrial Training Fund (ITF), Joseph Ari, said President Muhammadu Buhari has provided quality leadership through Minister of Industry, Trade and Investment, Otunba Richard Adeniyi Adebayo and his counterpart, Amb. Mariam Yalwaji Katagum which has unleashed innovations and creativity of various agencies under their control. Ari in a press statement signed by Director, Public Affairs Department, Suleyol Fred Chagu, in Jos on Friday after the formal presentation of the ITF Mobile Android GSM smart phone to President Muhammadu Buhari at the Presidential Villa, Abuja, credited the achievement to the inspirational leadership and support to the Ministers. He said the ITF mobile phone, which was comparable in quality to any other brand of Android...
IPOB sit-at-home records success in Onitsha
The sit-at-home protest ordered by the Indigenous People of Biafra, IPOB, and the Movement for the Actualization of the Sovereign State of Biafra, MASSOB, recorded total compliance and success with all the residents of Onitsha and Nnewi and business outfits complying with the directive. All business activities were shot down, all markets were under lock and key public and private Secondary and Primary Schools were shot down, government offices and banks were also not opened for business as they were under lock and key, Petrol and Gas filling stations were also not opened for business as streets and roads shops and artisans in both Onitsha and Nnewi shut for the day business when Vanguard moved round the cities. All the roads leading into and exit of Onitsha, the commercial city, and those ...
Ebonyi governor urges residents to ignore IPOB’s sit-at-home order
Ebonyi State governor David Umahi has urged the people of the state to ignore the sit-at-home order by the Indigenous People of Biafra (IPOB) and go about their normal activities. He stated this on Saturday in Abakaliki, Ebonyi State capital. He said: “I have been getting voices from certain agitators that tomorrow there will be no movement, this is foolishness. If there is no movement in the southeast, is there no movement in the whole country? What an Ebonyi man will never accept is to go into second slavery under any guise. “We know the Biafra we need is to have enough money so that we cleanse up the toga of the slavery that our brothers and sisters subjected us into when we were under what they want us to be under. “We need money, if you love Ebonyi state, bring money, come up and put ...
