By Dipo Olowookere
Some executives of Cars 45 on Tuesday paid a courtesy visit to the Commissioner of Police, Lagos Command, Mr Zubairu Muazu.
The Cars 45 executives were led to the meeting by the Chief Executive Officer (CEO), Mr Etop Ikpe, who commended the police chief for keeping Lagos safe.
Here are few pictures from the visit.
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 Modupe Gbadeyanka The Lagos State House of Assembly is considering regulating the multiple dues collected by transport unions in the metropolis to ease the burden on commuters, who are forced to pay higher by drivers. This was one of the issues addressed at the plenary on Tuesday by the state legislators. Another matter discussed by the lawmakers was the activities of some officials of the Lagos State Traffic Management Authority (LASTMA) in the state. On Monday, it was reported that a driver, who was allegedly being chased by officials of the traffic control agency, crushed to death two workers
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 The Governor of Enugu State, Mr Peter Mbah, has appointed the co-founder and CEO of Kobo360, Mr Obi Ozor, as the Commissioner for Transport, a move that has sent ripples of joy across Nigeria’s tech sector. Mr Ozor was sworn in last Friday alongside 19 others by Governor Mbah. He is expected to bring his over six years of logistics and supply chain experience to drive the goals of the Southeastern state’s executive council. Speaking at the swearing-in ceremony, Mr Mbah said to the Commissioners, “Your selection was largely driven by your track records, your experience, your
By Adedapo Adesanya The Actors Guild of Nigeria (AGN) has backed the ongoing war on drugs abuse in Nigeria, promising to join the crusade against the scourge. The actors gave this assurance on Monday during a meeting with the Chairman/Chief Executive of the National Drug Law Enforcement Agency (NDLEA), Mr Mohamed Buba Marwa, at the national headquarters of the agency in Abuja. While commending the Nollywood actors and the entertainment industry for projecting the image of Nigeria, Mr Marwa expressed confidence that the campaign against drug abuse in the country will go far with the offer of partnership and support
By Adedapo Adesanya The Niger Delta Development Commission (NDDC) has signed an agreement with a multinational business management consultancy firm, KPMG, to help improve transparency in its operations in line with global best practices. The move will see the firm provide advisory services to the commission while improving its corporate governance culture and internal processes. The NDDC has faced claims of corruption and mismanagement over the years, with its former acting Managing Director, Mr Daniel Pondei, slumping during a probe in 2020. Speaking during the signing ceremony at the NDDC headquarters in Port Harcourt on Wednesday, the current Managing Director,
By Adedapo Adesanya President Muhammadu Buhari has approved the removal of Ms Marilyn Amobi as the Managing Director of the Nigerian Bulk Electricity Trading (NBET) Plc. The removal of the NBET Director, marred by controversy, was confirmed by the Minister of Power, Mr Saleh Mamman on Monday, June 15. The minister, in a press statement, said the action was approved by President Buhari. He then announced that Ms Amobi’s vacant seat will be filled by the company’s General Counsel and Secretary, Mr Nnaemeka Eweluka, with immediate effect till further notice. Ms Amobi had been discovered to run a private firm
By Modupe Gbadeyanka Diamond Bank has gone ‘Beyond Banking’ again, coming up with a full-day experience called ‘Tech Fest’. The programme aims to bring together the best talent in Nigerian technology – one of the country’s fastest growing sectors. Group chief executive of Diamond Bank, Mr Uzoma Dozie, while making the announcement, explained that, “Diamond Bank’s philosophy has always been about connecting people and connecting markets. “Technology is now driving these connections at a faster rate than ever before and this is improving the landscape for new businesses to start out, to be seen, to scale and most importantly to
On Tuesday, August 9, 2016, Nigeria will host the 1st Regional Centre for Disease Control Scientific Conference and special Ministerial session in Abuja. The Nigerian government is collaborating with the Economic Community of West Africa States and African Field Epidemiology Network on this programme. The Conference would be organized by the Nigeria Field Epidemiology and Laboratory Training Program, in conjunction with Federal Ministry of Health, Training Programs in Epidemiology and Public Health Intervention Network (TEPHINET), and the ECOWAS Regional Center for Disease Control (RCDC). Issues expected to be discussed during the Conference include the progress and implementation of the 2001
By Adedapo Adesanya Nigeria’s crude oil production declined by 0.7 per cent month-on-month to an average of 1.417 million barrels per day in February 2022. This was disclosed by the Organisation of the Petroleum Exporting Countries (OPEC) in its Oil Market Report for March 2022. The report said the figure showed a decrease of 10,000 barrels per day when compared to the 1.427 million barrels per day produced averagely in the month of January 2022 “According to secondary sources, total OPEC-13 crude oil production averaged 28.47 mb/d in February 2022, higher by 0.44 mb/d month-on-month. “Crude oil output increased mainly
By Dipo Olowookere The decision of investors to sell some of their stocks, which had recorded price appreciation in the last two trading sessions, had a negative effect on the Nigerian Stock Exchange (NSE) on Wednesday. At the midweek trading session, profit-taking were witnessed around equities in the energy, insurance, consumer goods and industrial goods, with the first two the most hit. Only the banking sector finished strong yesterday, closing 0.11 percent higher. But the energy space went down by 1.43 percent, insurance by 1.01 percent, industrial goods by 0.95 percent and consumer goods by 0.40 percent. Business Post reports
By Dipo Olowookere The entire shares of Global Spectrum Energy Services Plc have been delisted from the trading platform of the Nigerian Exchange (NGX) Limited. The company’s stocks were removed from the bourse on Tuesday, according to a notice signed by Ms Obioma Oge for the Head of the Listings Regulation Department at the stock exchange. The reason for the removal of Global Spectrum equities from the daily official list of the Nigerian exchange was that the organisation voluntarily exited the bourse. Recall that last week, the NGX announced that it had placed a full suspension on the shares of
By Adedapo Adesanya The House of Representatives has pledged to stop international oil companies (IOCs) operating in the Niger Delta from divestment of their offshore assets without being accountable to the environment. The Chairman of the House of Reps Committee on Host Communities, Mr Dumnamene Dekor, said this during a technical session on the implementation of the Host Communities Development Trusts (HCDT), organised by Spaces for Change (S4C) with support from Ford Foundation. Mr Dekor raised the alarm that since the passage of the Petroleum Industry Act in 2021, host communities have not experienced any positive change, rather have remained
By Modupe Gbadeyanka A Nigerian lender, Fidelity Bank Plc, has agreed to adopt the single framework for a sustainable banking industry developed through collaboration between banks worldwide and the United Nations Environment Programme Finance Initiative (UNEP FI). Called the UN Principles for Responsible Banking (PRB), the initiative is a structure for ensuring that banks’ strategy and practices align with the vision society has set out for its future in the UN Sustainable Development Goals and the Paris Climate Agreement. Banks which have signed the principles commit to being ambitious in their sustainability strategies, working to mainstream and embed sustainability into
By Modupe Gbadeyanka A popular talk show host, Mrs Morayo Afolabi-Brown, has been appointed as the Managing Director of TVC Entertainment (TVCe). The channel is the entertainment subsidiary of the Lagos-based broadcast media platform, TVC Communications. Mrs Afolabi-Brown is the co-anchor of the famous morning show on TVC, Your View, which has won several awards. Confirming her appointment on Thursday, she said, “I am excitingly pleased to announce my recent appointment as the Managing Director of TVCe, the Entertainment Channel of TVC Communications. “This is a new chapter in my career. I am exceedingly grateful to the board for entrusting
By Aduragbemi Omiyale President Bola Tinubu has said the 2024 budget presented to the joint session of the National Assembly on Wednesday was designed to achieve macroeconomic stability, a better investment environment, greater access to social security, poverty reduction and enhanced human capital development. According to him, if these goals are achieved, the standard of living of Nigerians will improve and the citizens will enjoy the dividends of democracy. While presenting the 2024 Appropriation Bills to the parliament yesterday, the President said this was why he christened the budget proposal as the Budget of Renewed Hope. Mr Tinubu told the
By Modupe Gbadeyanka The chairman of the Federal Inland Revenue Service (FIRS), Mr Zacch Adedeji, has asked his counterpart in the Economic and Financial Crimes Commission (EFCC), Mr Ola Olukoyede, to support his agency to achieve the Renewed Hope Agenda of President Bola Tinubu, who appointed both of them. Speaking during a courtesy visit to the headquarters of the anti-money laundering firm, Mr Adedeji said the EFCC has a role in ensuring that taxpayers’ funds are “judiciously utilised in line with the social contract with the people.” He assured that the FIRS would continue to strive to raise the revenue
By Adedapo Adesanya President Bola Tinubu on Wednesday departed Abuja for Dubai, the United Arab Emirates, to attend the COP28 Climate Summit which takes place from December 1 —2, 2023, with the theme Unite, Act, and Deliver. According to the presidential spokesman, Mr Ajuri Ngelale, the President will be using the platform to advocate for funding as well as technical support to tackle the array of climate problems facing the country. He said Mr Tinubu was “mindful of the severe impact of climate change on Nigeria, such as desertification, flooding, erosion, drought, and national security risks arising therefrom, will maximise
By Modupe Gbadeyanka Access Bank Plc has expressed its determination to support initiatives that promote knowledge, integrity, and the enduring legacy of excellence in the legal profession. The chief executive of Access Holdings, the parent firm of the lender, Mr Herbert Wigwe, while speaking at the launch of a book to honour Justice Amina Adamu Augie on Tuesday, November 28, 2023, said the financial institution has a strong affinity for the preservation and advancement of country’s judicial heritage. “We are proud to support the launch of Wisdom and Integrity: The Legacy of Honourable Justice Amina Adamu Augie JSC CON Through
By Adedapo Adesanya A milk-producing company, FrieslandCampina Wamco Nigeria, helped the NASD Over-the-Counter (OTC) Securities Exchange return to the green territory by 0.54 per cent on Wednesday, November 29. The firm improved its value by N3.50 in the midweek session to settle at N73.50 per share compared with the previous day’s closing price of N70.00 per share. It suppressed the 10 Kobo decline posted by Central Securities Clearing System (CSCS) Plc, which ended lower at N17.00 per unit versus Tuesday’s value of N17.10 per unit. Consequently, the market capitalisation of the alternative stock exchange went up by N6.28 billion to
By Adedapo Adesanya The Naira appreciated against the US Dollar in the Nigeria Autonomous Foreign Exchange Market (NAFEM) and the unregulated Peer-to-Peer (P2P) and the parallel market segments of the foreign exchange (FX) market on Wednesday, November 29 as President Bola Tinubu reiterated his administration’s promise to meet its obligations. Speaking during the presentation of his administration’s N27.50 trillion 2024 budget proposal to the joint session of the 10th National Assembly on Wednesday, Mr Tinubu said, “Despite the challenges, we continue to meet our obligations.” In the official NAFEM segment of the market, the value of the local currency went
By Adedapo Adesanya Oil prices rose by more than $1 a barrel on Wednesday as investors focused their attention on an upcoming OPEC+ output policy meeting and looked past a jump in crude stockpiles in the United States. Brent crude futures were up by $1.01 or 1.2 per cent to $82.69 per barrel, and the US West Texas Intermediate (WTI) crude futures gained $1.16 or 1.5 per cent to close at $77.57 a barrel. Prices were lifted by a media report that the Organisation of the Petroleum Exporting Countries and allies such as Russia, known collectively as OPEC+, was considering