IPMAN Opposes Tinubu’s Fuel Subsidy Removal

By Bliss Okperan A lady who reviewed a product of Erisco Foods Limited, Nagiko Tomato Mix, Mrs Chioma Egodi, has threatened to demand the sum of N500 million from the chief executive of the company, Mr Eric Umeofia, for violating her fundamental human rights. Mrs Egodi said she purchased the product at the market with the intention of using it to cook stew for her family. However, when she tasted it, according to her, it tasted too much sugar, prompting her to post about it on Facebook. It was reported that Erisco was not happy with the negative review. She

By Adedapo Adesanya Trading activities resumed at the official segment of the foreign exchange (FX), with the Nigerian Naira returning to familiar territory after the Eid-el-Maulud break due to forex demand pressure. The nation’s currency depreciated against the US Dollar in the Investors and Exporters (I&E) arm of the market on Thursday, September 28, by 2.68 per cent or N20.23 to finish at N775.31/$1 compared with the preceding day’s value of N755.08/$1. It was observed that the domestic currency crumbled during the session due to FX demand caused by the break, with the spot market recording trades valued at $144.55

By Adedapo Adesanya The value of the NASD Over-the-Counter (OTC) Securities Exchange sharply declined by 3.86 per cent on Thursday, September 28, after the shares of VFD Group Plc were taken out of the platform. VFD Group, according to reports, is planning to trade its stocks on a larger platform, the Nigerian Exchange Limited (NGX). The delisting of the company’s equities brought down the market capitalisation of the NASD OTC exchange by N44 billion to settle at N1.102 trillion compared with the N1.146 trillion it finished on Tuesday, the last trading session. The market was closed on Wednesday as a

By Aduragbemi Omiyale The management of BUA Cement Plc has announced a reduction in the prices of its cement from its factory without the transportation costs to N3,500 per bag (50kg). The cement maker confirmed this development in a statement issued on Sunday, noting that it was part of efforts to make sure customers get the products at cheaper prices. In the statement, BUA Cement disclosed that the slash in cement prices is from Monday, October 2, 2023, urging its distributors not to fleet the end users. The firm said, “All pending, undelivered orders which had been paid for at

By Dipo Olowookere Season 6 of the 2017 GTBank Masters Cup has entered the last eight and 16 teams in both the male and female categories will clash at the Onikan Stadium in Lagos from Thursday, May 11, 2017 (today) and tomorrow, Friday, May 12, 2017, to book a spot in the last four of the competition. The girls will kick off the quarter finals on Thursday with Greensprings School, Lekki playing against Methodist Girls High School, Yaba, while Ansar-Ud-Deen Girls High School, Itire plays the second game of the day against Dowen College, Lekki. Also, the Greensprings male team

By Modupe Gbadeyanka Minister of Finance, Mrs Kemi Adeosun, has informed the House of Representatives why she suspended the erstwhile Director General of the Securities and Exchange Commission (SEC), Mr Mounir Gwarzo. Speaking on Tuesday at an investigative panel set up by the lower chamber of the National Assembly, the Minister described the decision to punish the regulatory chief as “right.” She said government’s action on the suspended SEC chief instilled confidence in the nation’s capital market. According to her, a high standard of propriety and integrity is required from capital market operators, and even more from the capital market

By Modupe Gbadeyanka Managing Director of ExxonMobil Nigeria, Mr Paul McGrath, has promised that his company will henceforth comply with all provisions of the Nigerian Content Act alongside associated regulations. Mr McGrath made this pledge on Thursday in Lagos when he received the management of the Nigerian Content Development and Monitoring Board (NCDMB), led by the Executive Secretary, Mr Simbi Wabote. The ExxonMobil boss described compliance with the provisions of the Nigerian Content Act as not only a legal and moral obligation for operating and servicing oil and gas companies but also a good strategy for improving profitability and sustainability

By Adedapo Adesanya The activities of oil pipeline vandals and oil theft cost Nigeria a loss of $2.75 billion in 2019, Partner for Petroleum & Energy Sector Prosperity Initiative (P-PESPI) has claimed. This was explained by the group’s Chairman, Mr Charles Ibiang, who noted in a statement on Sunday that criminal damage on the nation’s oil asset was affecting the nation’s revenue inflow. According to him, industry information from NEITI, NNPC, NEC Adhoc Committee on Prevention/Control of Crude Theft and other sources revealed that Nigeria in 2019 recorded a loss of 22.64 million barrels of crude oil valued at $1.35

By Dipo Olowookere Trading activities on the floor of the Nigerian Stock Exchange (NSE) ended positive on Thursday, appreciating by 1.54 per cent. The All-Share Index (ASI) increased during the session by 622.09 points to settle at 40,963.14 points in contrast to the previous day’s 40,341.05 points, while the market capitalisation appreciated by N325 billion to close at N21.419 trillion as against N21.094 trillion it ended on Wednesday. It was observed that the level of activity improved yesterday with the volume of shares traded by investors rising by 72.89 per cent to 809.4 million units from 468.1 million units. The

By Investors Hub European stocks have risen on Thursday, with automakers leading the surge after U.S. President Donald Trump and European Commission President Jean-Claude Juncker agreed to work toward zero tariffs, easing immediate concerns about global trade. Investors kept an eye on the ECB’s monetary policy meeting later today, although no immediate changes to policy are expected. The German DAX Index has jumped by 1.3 percent and the French CAC 40 Index has risen by 0.4 percent, although the U.K.?s FTSE 100 Index has edged down by 0.1 percent. BMW, Volkswagen, Renault and Peugeot climbed 2-4 percent after the U.S.

By Dipo Olowookere The Independent National Electoral Commission (INEC) has been ordered to declare results of the annulled June 12, 1993 presidential election. The exercise was widely acclaimed to have been won by late Moshood Abiola. It was conducted by the National Electoral Commission (NEC) then headed by Professor Humphrey Nwosu. The then Military President, Mr Ibrahim Babangida, cancelled results of the poll without giving any cogent reason. Yesterday, President Muhammadu Buhari declared June 12 as the new Democracy Day instead of May 29 in the past. He also honoured late Abiola with the national award meant for Presidents. At

By Modupe Gbadeyanka The federal government has expressed satisfaction with the 5.01 per cent growth in the gross domestic product (GDP) for the second quarter of 2021. The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, said this shows that the Nigerian economy was on the solid path to recovery. Mrs Ahmed, while speaking at an Executive Intelligence Management Course 14 of the National Institute for Security Studies (NISS), Bwari, Abuja, said the administration of Mr Muhammadu Buhari has shown a strong commitment to sustainable development, governance and security despite the nation’s limited revenues. At the event themed