Haul247 Gets $3m to Tackle Africa’s Warehousing, Logistics Problems

By Bliss Okperan The Third Mainland Bridge in Lagos will be closed for two Sundays to allow for repairs on the bad portions of the facility, the Lagos State government has said. The federal government is partnering with the state government to fix the bridge, which was built in 1990 by a former Military President, General Ibrahim Babangida. As a result of the repairs, the bridge will be shut down, with traffic diverted to other routes, according to a statement issued by the Ministry of Transportation in Lagos State. These measures were due to recurring accidents caused by potholes and

By Adedapo Adesanya The Nigerian Automobile Technicians Association (NATA) Lagos State chapter has lauded Hyde Energy following an assessment of the quality of lubricants produced and distributed in the Nigerian market as well as adherence to international best practices by Hyde Energy Lubricant business. This came as the executive members of the association visited the energy trading company’s lubricant blending plant located in Ijebu-Ode, Ogun State. The lubricant plant, one of the largest lubricant manufacturing facilities in Nigeria, has the capacity to blend 30,000 litres of lubricant per day. The lubricants produced at the Hyde Energy blending plant undergo stringent

By Adedapo Adesanya President Bola Ahmed Tinubu yesterday disclosed plans to roll out 3,000 units of Compressed Natural Gas (CNG) buses to cushion the effect of the fuel subsidy removal on Nigerians. Mr Tinubu disclosed this in a 20-minute televised broadcast addressing the nation’s state, giving backing to alternative energy sources cheaper than petrol and diesel, which have tripled since the president announced that subsidy was no more as of May 29, 2023. The president said that the buses would be rolled out across the state and local government in the country for mass transit at a cheaper rate. While

By Adedapo Adesanya The federal government has given fresh reassurance that the reconstruction work on the Abuja-Kaduna-Kano highway will be completed by the first quarter of 2024. The Permanent Secretary in the Federal Ministry of Works and Housing, Mr Mahmuda Mamman, gave the assurance on Friday during an inspection of the road and other ongoing federal road projects in Kaduna State. Mr Mamman took a tour of the 375.9 km of the dual carriageway way beginning from the Abuja end through Kaduna to Zaria and extending further to Kano, all in the North-West zone. During the inspection tour, the Permanent

By Dipo Olowookere The Nigerian Exchange (NGX) Limited sank deeper into the danger zone on Wednesday after it further shed 1.88 per cent at the close of transactions. It was observed that sustained profit-taking activity weakened the stock exchange yesterday as investor trimmed down their exposure to equities during the session. This resulted in the level of activity going down, with the trading volume, value and the number of deals down by 33.50 per cent, 12.90 per cent, and 23.62 per cent, respectively. This was because investors transacted 197.3 million shares valued at N2.7 billion in 3,506 deals compared with

By Adedapo Adesanya The Naira recorded no movement against the American Dollar at the Investors and Exporters (I&E) segment of the foreign exchange (FX) market on Tuesday, remaining at N461.50/$1. This came as the Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, bowed to pressure from the House of Representatives to waive the deadline for the return of old currency notes to banks for the new ones. The apex bank had said old N200, N500, and N1,000 currency notes not returned to the bank on or before February 10, 2023, would lose their values, but the lawmakers

By Dipo Olowookere The management of Arik Air has been summoned by the Consumer Protection Council (CPC) following complaints of alleged ill-treatment by passengers of recent London-Abuja flights. The airline has been directed to appear before it tomorrow to provide facts relating to the allegations. The summons, which was issued by the council on Wednesday, was directed at the airline’s Chief Executive Officer, Mr Michael ArumemiIkhide, the Chief Operating Officer, Conor Prendergast and the Managing Director, Chris Ndulue, to appear before the Council. According to the summons, the council disclosed that it received “complaints/information from the public and passengers on

By Dipo Olowookere Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr Maikanti Baru, has assured citizens that the perennial fuel scarcity in the country would soon become “a thing of the past.” Mr Baru gave this assurance while delivering a goodwill message during the ‘NNPC Day’ held at the 39th Kaduna International Trade Fair, in Kaduna on Wednesday. He said the state-owned oil firm was committed to providing the necessary assistance for Nigeria to attain competitive edge in non-oil sectors of the economy. “NNPC is suited to providing the enabling environment for the nation to optimise its

By Dipo Olowookere The management of United Bank for Africa (UBA) Plc has already rolled up its sleeves to ensure its 2019 financial year is better than 2018 fiscal year. The results released by the pan African financial institution recently were not too impressive, but the lender is determined to make amends. Addressing an investor call last Thursday, Group Managing Director of UBA Plc, Mr Kennedy Uzoka, assured that the bank’s prudent focus on improved asset quality as well as the continuous adoption of strict cost efficient measures will help it achieve its objectives and priorities for the 2019 financial

By Modupe Gbadeyanka Governor Babajide Sanwo-Olu of Lagos State and Governor Kayode Fayemi of Ekiti State are expected to make it to the 15th anniversary of a leading Public Relations and Integrated Communications Consulting firm, Chain Reactions Nigeria. The company is rolling out drums to celebrate the landmark on Wednesday, March 30, 2022, at the Radisson Blu, Isaac John Street, G.R.A. Ikeja, by 3:00 pm with captains of industries, business leaders and top government personalities to grace the occasion. A statement from the firm disclosed it would be a three-in-one event tagged Ara Unstripped to comprise unveiling of Chain Reactions’

The Roads and Transport Authority (RTA) in Dubai has opened registration for the Dubai World Challenge for Self-Driving Transport through the website www.sdchallenge.com. Mattar Al Tayer, Director-General and Chairman of the Board of Executive Directors of the RTA, had previously unveiled the initiative in collaboration with Khalifa University and NewCities International Organisation. Adel Shakeri, Director of Transportation Systems  cum Head of the Dubai World Challenge for Self-Driving Transport Committee, said, “Registration for the Dubai World Challenge for Self-Driving Transport. Finalists will be announced in October 2018, and winners will be unveiled in October 2019. The total prize money of the

By Dipo Olowookere Minister of Budget and National Planning, Mr Udo Udoma, has commended President Muhammadu Buhari for improving the business climate in Nigeria while focusing on creating an environment for private sector investment. Speaking at the Financial Times Nigeria Summit, the Minister noted that the various policies put in place by the President ensured that the economy recovered from the recession it slipped into in the second quarter of 2016. In a statement issued by his Media Adviser, Mr Akpandem James, the Minister stated that though the Mr Buhari led administration inherited a challenged economy, it has succeeded in