Kwik Delivery Unveils JJ Okocha, Fehinty as Ambassadors

By Adedapo Adesanya President Bola Tinubu has approved the establishment of the Presidential Compressed Natural Gas Initiative (PCNGI) as part of efforts to ease the impact of fuel subsidy removal on Nigerians by reducing energy costs. In a statement released late on Friday, the presidency said this initiative is poised to revolutionize the transportation landscape in the country, targeting over 11,500 new CNG-enabled vehicles and 55,000 CNG conversion kits for existing PMS-dependent vehicles. The federal government also envisions that it will simultaneously bolster in-country manufacturing, local assembly, and creative jobs. The initiative, which comprises a comprehensive adoption strategy, will include

By Bliss Okperan An accident on Friday caused by the failed portion of the Odumodu Junction by Nteje, along the Onitsha-Awka Expressway, Anambra State, has left five persons dead. According to reports, the unfortunate incident happened at about 7:30 am when the container-laden truck fell on a commercial bus, whose driver was navigating through the failed portion of the road. The two vehicles involved in the road mishap were a Mitsubishi L300 commercial bus with registration number XE245AWK and a commercial Daf/Leyland truck with registration number T-19094LA. The acting Sector Public Education Officer for the Federal Road Safety Corps (FRSC),

By Modupe Gbadeyanka The proposed repair works on the Third Mainland Bridge by the Lagos State government have been suspended indefinitely. The state government had planned to close the bridge for two Sundays, beginning today, Sunday, September 17, 2023, but due to the heavy downpour witnessed in the state on Saturday, the action has been postponed. A statement signed by the Lagos State Commissioner for Transportation, Mr Oluwaseun Osiyemi, did not disclose when work would resume at the bridge. However, it explained that the planned repairs had to be put on hold “due to the heavy downpour experienced” in the

By Bliss Okperan Some commercial bus drivers in Lagos popularly known as Danfo drivers, have commenced a warning strike to kick against alleged extortions by operatives of the Lagos State Traffic Management Authority (LASTMA). Business Post gathered that the bus drivers refused to convey passengers to their various destinations across the metropolis, leaving many of them stranded at bus stops. The situation affected some workers, who could not get vehicles to take them to their different places of work because of the actions of the aggrieved motorists. It was gathered that only a few of the commercial motorists were working

By Dipo Olowookere The bears tightened their grip on the Nigerian Exchange (NGX) Limited on Wednesday, causing the local stock exchange to further shed 0.09 per cent at the close of trades. The sustained selling pressure, especially in the financial and energy sectors deducted 45.19 points from the All-Share Index (ASI) as it closed at 49,599.73 points compared with the previous day’s 49,644.92 points as the market capitalisation depreciated by N25 billion to finish at N26.753 trillion in contrast to Tuesday’s closing value of N26.778 trillion. The consumer goods improved by 0.10 per cent yesterday, while the industrial goods counter

A recent finding of the Supreme Court of Seychelles in the case of MultiChoice Africa Holdings B.V and SuperSport International (Pty) Ltd v Intelvision Limited shows courts in Africa are willing to protect the rights of African content producers and rights holders. The court found that Intelvision was breaking the law when it broadcast matches from the 2019 African Cup of Nations (AFCON) football tournament for which it did not have broadcast rights. This is the first successful application of Seychelles’ Copyright Act. This decision sets a strong national and regional precedent in upholding content-sharing agreements to ensure that the

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 Dipo Olowookere The two soldiers captured assaulting a physically challenged man in Onitsha, Anambra State on Tuesday have been punished by authorities of the Nigerian Army. This information was revealed in a statement issued by the Army on Friday. The statement said the Army sympathizes with victim, who was flogged for wearing a camouflage, which is an offence in Nigeria. The Army, in the statement, said “in line with our zero tolerance of infringement of human rights by troops, those involved; Corporal Bature Samuel and Corporal Abdulazeez Usman of 82 Provost Company, have been arrested, summarily tried based on

By Modupe Gbadeyanka Investors in the Nigerian equities market recorded a turnover of 1.656 billion shares worth N12.58 billion in 12,860 deals this week in contrast to a total of 894.759 million shares valued at N10.63 billion that exchanged hands last week in 13,418 deals. The market opened for four days only during the week due to the public holiday declared by the Federal Government on Monday, December 12, 2016, in commemoration of the Eid-el-Maulud celebration. The Financial Services Industry (measured by volume) led the activity chart with 1.504 billion shares valued at N6.183 billion traded in 7,311 deals; thus

By Adedapo Adesanya Tata International is set to expand operations in Nigeria through a strategic partnership with the Lagos Free Zone (LFZ) following the signing of a fresh arrangement. The agreement was signed in the presence of the Managing Director of Tata International Limited, Mr Anand Sen, by the Managing Director of Tata Africa Holdings Pty Ltd, Mr Len Brand. This move will help Tata International build on its existing relationship in the country since 2006 when it established operations in Nigeria. “As a brand synonymous with quality products and ethical business operations in Africa, Tata International is excited to

By Adedapo Adesanya   Oil prices may experience decline this week despite the progress made in the US-China trade deal, which has seen demand for oil take a hit and had in turn impacted strongly on oil prices. However, this issue also lent support to prices last week as session received massive backing spurred by progress in the talks, increasing US crude supply, and the potential of a deeper cut in production from oil producers in OPEC. The international oil benchmark, the Brent, charted around $63 last week, trading around $62.95 per barrel, following reports that the United States and

By Modupe Gbadeyanka On December 15, 2022, the newly redesigned N200, N500, and N1,000 officially hit circulation, but since then, there have been reports of fake Naira notes in the system. This has made some Nigerians reject the new banknotes, defeating the essence of the introduction of the currency denominations. Worried by this, the Central Bank of Nigeria (CBN) has released security features of the new N200, N500, and N1,000 to enable Nigerians to differentiate them from counterfeits. In a notice issued by the bank, it was stated that the new N1,000 note has a portrait watermark in front, with