Lagos Begins Accreditation Of Bus Conductors

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 Road Safety Corps (FRSC) has disclosed that during the second quarter of the year covering April to June 2023, it apprehended 8,592 traffic offenders for committing 179,165 offences. This is contained in a statement by the Corps Public Education Officer (CPEO), Assistant Corps Marshal (ACM) Bisi Kazeem, in Abuja on Monday. Mr Kazeem said that the arrests made during the second quarter of the year were pursuant to the corps’ commitment to making the highways safe. He said that 64,544 drivers were educated with 5,431 motor park rallies conducted, saying that the Corps organised 1,950

By Adedapo Adesanya Five Nigerian transport startups have emerged from Seedstars and Lab of Tomorrow (LoT) 17, an innovative programme aimed at transforming Nigeria’s transport and e-commerce sectors. These are CargoLink, Efotainer, MonieMove, SHAPP, and Trade Tracka. These selected startups will bring fresh ideas for overhauling intercity and last-mile transport services for people and goods in Nigeria. In a statement seen by Business Post, LoT 17 focused on Nigeria, where the booming e-commerce and logistics sectors are poised for technological innovation. However, challenges remain, especially in terms of transportation quality and the sector’s largely informal nature. The programme, thus, targeted

By Adedapo Adesanya Like on the Nigerian Stock Exchange (NSE), the trading of equities on the NASD Over-the-Counter (OTC) Securities Exchange attracts some certain fees charged for the completion of any transaction. These fees are charged by the exchange, the Securities and Exchange Commission (SEC), the Central Securities Clearing System (CSCS) and the stockbroker through which the trade is done. To ensure transparency and uphold the integrity of the capital market, the apex regulator in the sector, SEC, has approved maximum charges these bodies can get from execution of any buy or sell transaction on the NASD. In the template

By Adedapo Adesanya Africa’s leading payments technology company, Flutterwave, has announced a new collaboration with global payment leader, PayPal, to enable customers to pay merchants on the continent through Flutterwave’s platform. The collaboration will be instrumental in supporting SMEs and freelancers to overcome the many challenges presented by the highly fragmented and complex payment and banking infrastructure, as well as connecting them with more than 377 million PayPal account holders globally. Speaking on the announcement today, Mr Olugbenga ‘GB’ Agboola, founder and Chief Executive Officer of Flutterwave, said: “We are excited to bring PayPal’s fully integrated services to businesses across

By Adedapo Adesanya As part of the efforts by the African Development Bank (AfDB) to drive infrastructural development in Nigeria, the sum of $250 million will be invested in the Federal Capital Territory (FCT), Abuja to improve technology, agriculture, water supply and sanitation in satellite towns. Senior Director at AfDB, Mr Ebrima Faal, stated during a six-man delegation visit to the FCT Minister of State, Mrs Ramatu Aliyu, in the nation’s capital on Sunday that the bank intends to invest in the development of Abuja Technology Village. He said a number of studies are ongoing in various components of the

By Aduragbemi Omiyale The merger terms among Dangote Rice Limited, NASCON Allied Industries (NASCON) Plc, and Dangote Sugar Plc have been agreed upon. Dangote Sugar confirmed this development on Wednesday in a statement filed to the Nigerian Exchange (NGX) Limited. The three organisations are planning to become a single entity, and they needed to tidy up all the terms and conditions for a seamless transition. In the notice yesterday, the sugar maker said it would now apply to the Securities and Exchange Commission (SEC) “for the approval of the scheme, and subject to the approval of the SEC, will apply

By Tintin Imevbore Over the past few years, spurred by the COVID-19 pandemic and its associated lockdowns, online retail has witnessed an African explosion. Faced with stay-at-home orders, many people started shopping online for the first time, while experienced shoppers increased their purchases. Those behaviours have largely stuck too. Take Nigeria, for example. In 2021, its e-commerce market grew by 30%, and in the years leading up to 2027, e-commerce revenues are expected to grow 11.31% annually. By that point, the sector (currently worth US$7.63 billion) is expected to be worth US$11.71 billion. It’s clear then that anyone interested in

By Modupe Gbadeyanka Since its inception about eight years ago, Nigeria’s first full-fledged non-interest bank, Jaiz Bank Plc, is yet to pay dividend to its shareholders. In the 2018 financial year, the lender, according to its Chairman, Mr Umaru Mutallab, had planned to break this jinx, but he said the board was not given the approval to make this a reality. Speaking at the 7th Annual General Meeting (AGM) of Jaiz Bank on Wednesday in Abuja, Mr Mutallab said barring any unforeseen contingencies, shareholders of the company should receive their first-ever dividend from the bank by next year. He informed

By Modupe Gbadeyanka Nigerian Tulip International College (NTIC) has secured two semi-final slots for Kaduna State in the on-going 2017 Cowbellpedia Secondary Schools Mathematics TV Quiz Show, sponsored by Cowbell, the flagship brand of Promasidor Nigeria Limited. This means the Northern part of Nigeria will be represented in the semi-finals for both the Junior and Senior categories in this year’s competition. In the Group C preliminary contest last weekend, Olayinka Abdulwakil of NTIC, Kaduna and Deborah Oyekunle of Deeper Life High School, Ibadan, Oyo State emerged as semi-finalists in the Junior category. With 115 and 90 points respectively, Oyekunle and

By Tenebe Anthonia The Nigerian Stock Exchange (NSE) has continued to provide an enabling environment for government and corporate organisations to raise capital for some critical operations. The exchange, since the activation of its Business Continuity Plan on March 24, 2020 as a result of the lockdown caused by the Coronavirus disease (COVID-19), has attracted several new listings to the market. Over three months ago, the NSE made it possible for trading to be done remotely so as not to cause a shutdown of the market because of the health crisis. During this period, the exchange has helped government and