Unique Motors Boss Becomes ECOWAS Ambassador

By Adedapo Adesanya The China Civil Engineering Construction Corporation (CCECC) Limited has promised to complete the Abuja light rail project in eight months, in line with the determination of President Bola Tinubu’s administration to enhance infrastructure development across the country. The Chinese construction firm gave this assurance after a meeting with the Vice President, Mr Kashim Shettima, at the Presidential Villa in Abuja. Mr Shettima described CCECC as part of Nigeria’s history, saying the Chinese construction giant has played a pivotal role in developing Nigeria’s landmark projects, adding that their commitment to the development of Nigeria and Africa is commendable.

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 The federal government, as part of the effort to drive alternative fuelling options through the National Economic Council (NEC), has endorsed the proposed mass deployment of Compressed Natural Gas (CNG) vehicles to all states for public transportation. The Director of Information in the Office of the Vice President, Mr Olusola Abiola, in a statement, said the decision was part of resolutions reached at the fourth meeting of the Council, chaired by Vice President Kashim Shettima, at the State House Executive Council Chambers on Thursday. Mr Abiola explained that the decision was taken after a presentation by the

By Adedapo Adesanya The Senate has eventually passed the Petroleum Industry Bill known as PIB. The upper chamber of the National Assembly passed the bill during the plenary on Thursday after careful consideration of each of the clauses. The Senate, before passing the bill, met behind closed doors with the Minister of State for Petroleum, Mr Timipre Sylva, and the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr Mele Kyari. The passage of the bill comes exactly 13 years after it was first presented to the National Assembly in 2008. On September 28 2020, President Muhammadu Buhari

By Modupe Gbadeyanka The Transmission Company of Nigeria (TCN) has been directed to pay N47.6 million as fine for failing to submit 2013 and 2014 audited financial statements. This order was given by the Nigerian Electricity Regulatory Commission (NERC). Vanguard reports that the TCN, according to the regulatory agency, has up to two weeks to pay the fine, beginning from December 2, 2016, when the directive was signed. The fine attracts five percent interest daily after the due date. The document to this effect, with reference number NERC/Directive/160, was signed by the acting Chairman, Dr. Anthony Akah, and General Manager,

By Adedapo Adesanya The Nigerian Content Development and Monitoring Board (NCDMB) has expressed optimism that in the next five years, crude oil refineries in the country would be able to refine not less than 1.2 million barrels per day. The Executive Secretary of the organisation, Mr Simbi Wabote, while speaking at the maiden NCDMB Nigerian Content Midstream/Downstream Oil & Gas Summit in Lagos themed Towards Maximizing Potentials in the Midstream and Downstream Oil & Gas Sector – A Local Content Perspective, said, “About 400,000 barrels per day is expected from the rehabilitation of NNPC refineries in Port Harcourt, Warri, and

By Modupe Gbadeyanka Performance across sectors of the Nigerian Stock Exchange (NSE) was mixed in the last trading week, which ended on Friday, July 7, 2017. The All-Share Index (ASI) and the market capitalization depreciated by 1.99 percent and 2.31 percent to close the week at 32,459.17 and N11.187 trillion respectively. Similarly, all other Indices finished lower during the week with the exception of the NSE Insurance and the NSE Industrial Goods Indices that appreciated by 1.10 percent and 0.22 percent while the NSE ASeM index closed flat. During the week, a total turnover of 1.061 billion shares worth N12.295

By Adedapo Adesanya A non-governmental organisation, Feed Me, has started an initiative of sharing food items on a monthly basis to the vulnerable and the less-privileged in the society. Mrs Oluwatunmise Mafe, the convener of the NGO, said in a statement that FeedMe and its partners would provide monthly food supplies to families in various communities in Lagos to alleviate their needs and enhance their nutritional level “Our plan for the next two years is to provide 100 families with food items like rice, beans, garri, semovita, vegetable oil and seasoning that will last them for a month. “The strategy

By Investors Hub Asian stocks rose on Tuesday amid renewed hopes of further progress in U.S.-China trade talks on signing a partial deal. Sentiment got a further boost after the Financial Times reported that the U.S. is considering dropping tariffs on $112 billion worth of Chinese imports. President Donald Trump and Chinese President Xi Jinping are expected to meet in the U.S. soon to sign the first phase of a trade deal between the world’s two largest economies. China’s Shanghai Composite Index climbed 16.07 points, or 0.5 percent, to 2,991.56 and Hong Kong’s Hang Seng Index rose 136.10 points, or

By Adedapo Adesanya Top leading video streaming platform, YouTube, has announced that artistes and creators from Nigeria can apply for the $100 million Black Voices Fund. This was announced today by Mr Alex Okosi, Managing Director, Emerging Markets, YouTube EMEA, in a statement, adding that the global fund would over the next three years offer support to Black artistes and creators. He said the fund would enable beneficiaries to thrive on YouTube. The managing director said that Black Voices Fund would invest with the intention to present fresh narratives that emphasise the intellectual power, authenticity, dignity and joy of Black

By Adedapo Adesanya The Naira depreciated by 0.18 per cent or 75 kobo against the United States Dollar at the Investors and Exporters (I&E) segment of the foreign exchange (FX) market on Tuesday, March 22. During the session, the exchange rate of the Nigerian currency to its American counterpart stood at N417/$1 in contrast to N416.25/$1 it was sold at the previous session. This was influenced by forex demand pressure at the Central Bank of Nigeria (CBN)-controlled FX window, weakening the value of the local currency. Also, the Naira depreciated against the Pound Sterling yesterday at the spot market by