OPay Suspends Transportation, Logistic Services

By Adedapo Adesanya * Cost of other alternatives transport soar in Review Month ** Ripples of fuel subsidy spur rise in food, rent, others *** President Tinubu launches palliative measures to cushion effect The average fare paid by commuters for bus journeys within the city per increased by 97.9 per cent from N649.59 in May 2023 to N1,285.41 in June 2023 as Nigerians grapple with a rise in prices after President Bola Tinubu announced the removal of fuel subsidy. This was contained in the Transport Fare Watch June 2023 released by the National Bureau of Statistics (NBS) over the weekend,

By Adedapo Adesanya After years of delays and extensions, the Lagos Blue Line Rail has begun commercial operations, with Governor Babajide Sanwo-Olu taking the first ride this morning (September 4). The first phase of the rail line extends from Marina to Mile 2 with five stations located in Marina, National Theatre, Iganmu, Alaba, and Orile. Operations commenced from Marina to Mile 2 Train Station, with Mr Sanwo-Olu taking the first ride at about 09:45 am. He was joined by some select persons, including the Commissioner of Police for the state, Mr Idowu Owohunwa; the First Lady, Mrs Ibijoke Sanwo-Olu; the

By Adedapo Adesanya Ride-hailing service, inDrive, has announced an investment of over seven million Rand to acquire top-notch car seat covers across Africa to create comfort for its customers. The mobility and urban service headquartered in California, USA, has distributed this to drivers in one of its crucial market, South Africa. inDrive, has seen extensive distributions in major cities like Johannesburg, Pretoria, and Durban. According to a statement seen by Business Post, this underscores the company’s unwavering commitment to the drivers and passengers that constitute the backbone of the gig economy. “The local driver community has greeted this initiative with

By Bliss Okperan A mobility technology company based in Nigeria providing a platform to aggregate intercity bus transportation in Africa, Bus54, is seeking to pick the African spot at the forthcoming Startup World Cup in December 2023 in the United States. The Startup World Cup is a global conference and competition with the goal of bridging start-up ecosystems worldwide. The competition gives startup companies from all over the world a chance to win $1 million in the form of an investment. Bus54, which allows passengers to search, compare, book, and manage their journeys online, could make it to the tourney

By Wale Yusuff As the largest economy in Africa, with huge gas reserves and high solar energy potential, Nigeria has all the natural resources necessary to meet the growing demand for electricity. However, the inadequate energy infrastructure still leaves a significant part of the population without power or relying on oil-fired back-up generators. If Nigeria can improve its energy infrastructure and unlock its gas-to-power generation potential, it paves the way to integrating low-cost renewable energy, bringing electricity and development opportunities to rural villages, driving industrial growth and employment, and increasing prosperity across the country. There is no doubt that gas

By Ahmed Rahma One of the leading players in the pension fund administration (PFA) in Nigeria, Leadway Pensure, has warned its customers to be careful of some fraudsters claiming to be from the company. The firm, in a message sent to its customers on Monday, November 16, 2020, noted that these persons have been going about to “misrepresent the Leadway Pensure PFA brand.” “It has come to our notice that certain unscrupulous individuals, attempting to impersonate or misrepresent the Leadway Pensure PFA brand, mandate customers to pay money to expedite their retirement benefits processing or for a Ponzi investment scheme.

By Jerome-Mario Chijioke Utomi One inherent ‘sorrow’ associated with public leadership across the globe is that once a citizen is elevated to such a position, either through election or appointment, he loses his/her right to private living. Closely associated with this challenge is that such public offices, particularly in Nigeria, have lately become targets for fierce political and ideological warfare in ways that negate our rationality as human beings. And each time such ‘wars’ occur, great amounts of innocent human character are spilt, wars of words waged, countless souls and ambition persecuted and martyred. Making it a reality to worry

By Ebitonye Akpodigha Chairman of BUA Group, Mr Abdulsamad Rabiu, soared high at the 2016 All Africa Business Leaders Award (AABLA) organised by CNBC Africa. At the event, which took place in Lagos at the weekend, Mr Rabiu was announced winner of the 2016 West African Industrialist of the Year award. This, the organisers said, was based on his gigantic and unswerving contributions to the growth of the Nigerian/West African economy. Mr Rabiu established BUA Group 28 years ago and the company has grown to be ranked among Africa’s largest food and infrastructure conglomerates, remaining a pivotal player in the

Fred Ijeh The publicity extended to All Nigeria Editors’ Conference (ANEC) in Port Harcourt regarding Dr. Emmanuel Uduaghan’s participation may have just smoked him out of his hole. For anti-corruption crusaders, this is it. This opportunity to arrest ex-governor Emmanuel Uduaghan over many allegations of looting the Delta State treasury should not escape the knowledge of the ICPC and EFCC. Indeed, the crime fighting agencies in Nigeria should not fail on this if really they are desirous of addressing corruption without bias. It is huge irony that editors of newspapers invited someone they have written to tatters on his ill-gotten

It has been two years since coronavirus (Covid-19) hit the globe and fiercely impacted every aspect of human existence. While it may appear on the surface that the world has made a successful return to business as usual, this is not the reality of most businesses. This is especially not the case for real estate development companies like LandWey Investment Limited, the largest residential development company in Nigeria. Since 2020, companies like LandWey have battled different challenges ranging from contractors’ time inefficiencies, inflation and the fluctuating FX which has severely impacted the procurement of construction material. Speaking on the current

By Dipo Olowookere Managing Director of Sifax Group, John Jenkins, has said that roll-on-roll-off (roro) operation is part of the business expansion strategy of the company. Mr Jenkins said this at a reception for the first roro vessel to berth at Port and Cargo terminal operated by Sifax at the Tin Can Island Port Complex, Lagos on Friday. He said the vehicle importation service is a joint venture partnership involving Sifax Group, Auto Export Shipping (AES) and Hyundai Glovis, the logistics arm of Hyundai KIA Automotive Group. “Sifax Group has a policy of exploring various opportunities to deepen our impact

Many will agree that the stock of digital businesses has risen tremendously in the wake of COVID-19 pandemic. The crucial role played by technology and e-commerce during the lockdown has further opened up the space for more possibilities. For many small and medium scale businesses that managed to survive economic hiccups in the heat of the pandemic, digital presence and relevance are prescribed as the ways for sustainability in the emerging new normal. For customers alike, many of whom have been affected by job losses and reduced income, cost-effectiveness is key on every expense. E-commerce is a bundle of effectiveness,