Economy
Kaduna To Ban Sale Of High Energy Bulbs
By Modupe Gbadeyanka
The sale of high energy bulbs in Kaduna State would soon be forbidden, the state’s Commissioner for Budget and Planning, Muhammad Abdullahi, has disclosed.
Mr Abdullahi informed the News Agency of Nigeria (NAN) on Monday that the move was part of strategy to boost energy efficiency in the state.
He said a state-wide campaign would be carried out next year for electricity consumers in the state to move to energy saving bulbs, before the ban is effected.
According to him, “We have already started moving from high-energy consuming bulbs to energy saving bulbs in ministries departments and agencies.”
He told NAN that the effort would cumulatively save N360 million, representing 30 per cent of the amount spent on light bills and fuelling of generators annually by electricity consumers in the state.
Mr Abdullahi explained that that strategy was an idea postulated by Dr Abdulkarim Mayere, who came third in the “My Great Kaduna Competition” organised by the state government in 2015.
He said that the competition was organised to source for ideas from members of the public on how to move the state forward and make Kaduna great again.
The commissioner disclosed that Governor Nasiru El-Rufai had since appointed Mayere as the General Manger of Kaduna Power Supply Company, a new company set up to ensure energy efficiency in the state.
He also said that plans were on to generate electricity from domestic waste, adding that the idea was also developed during the competition by Lwahas Adoniram, who emerge the best.
“Adoniram suggested that waste could be converted into huge employment opportunities with the local construction of turbines powered by domestic waste.
“We have already entered into discussion with the Federal Ministry of Environment and has shown interest to partner with us to make the project a reality.
“The people of the state have as much contribution to make, so we opened up the competition last year and received about 500 entries out of which 15 were selected and integrated into the state development plan.
“As you can see, we have already started implementing some of the ideas.
“The state government would continue to engage citizens in policy formulation and implementation processes in order to run a holistic people-oriented government,” the Commissioner said.
http://www.vanguardngr.com/2016/08/kaduna-govt-ban-sale-high-energy-bulbs-commissioner/
Economy
African Energy Bank Will Be Game Changer—Minister

By Adedapo Adesanya
The Minister of State for Petroleum Resources (Oil), Mr Heineken Lokpobiri, has said the African Energy Bank would change the energy fortunes of Nigeria and other African countries.
He gave this submission when he met with the President of the African Export-Import Bank (Afreximbank), Mr Benedict Oramah, in furtherance of ongoing engagements towards the commencement of operations by the lender.
The African Energy Bank is a collaborative effort between Afreximbank and the African Petroleum Producers Organisation (APPO). It is set to launch with an asset base of $5 billion, which is projected to grow to $120 billion in five years.
A statement by the minister’s spokesperson, Mrs Nneamaka Okafor, said the take-off of the bank would mark a significant milestone in Africa’s quest for energy security and sustainability.
The Minister described the bank as a landmark initiative poised to transform the continent’s energy landscape.
The statement added that Afreximbank, as a key partner, was transferring its full equity investment in the oil and gas sector, underscoring its commitment to driving energy infrastructure development across the continent.
During the meeting with Mr Oramah, Mr Lokpobiri reiterated Nigeria’s strong support for AEB and its pivotal role in unlocking Africa’s energy potential.
“Nigeria, as a leading oil and gas producer, is well positioned to leverage this transformative initiative,” the minister stated.
“We encourage industry players to seize this opportunity to invest in Africa’s energy future,” he added.
After their discussion, Mr Lokpobiri and Mr Oramah proceeded to the African Energy Bank headquarters for an inspection tour to assess the level of readiness ahead of the commencement of operations, the statement said.
“The visit provided first-hand insights into the bank’s operational preparedness and strategic alignment with Africa’s broader energy development goals,” it stressed.
Speaking on the significance of the bank, Mr Oramah emphasised the bank’s role in bridging Africa’s energy financing gap, saying, “The establishment of the Africa Energy Bank is a game-changer for the continent.”
The Afreximbank president commended Nigeria for taking the bull by the horns in hosting the headquarters of the bank. He expressed confidence in Nigeria’s oil and gas portfolio, saying the bank will not only benefit the energy sector in Africa, but will also guarantee immediate benefits for Nigeria.
Mr Lokpobiri reaffirmed Nigeria’s readiness to collaborate towards the success of the continental bank, describing it as a bold step.
“This bank represents a bold step in ensuring that Africa controls and finances its energy future. It is an avenue for stakeholders to invest in a self-sustaining energy sector that will drive industrialisation, job creation, and economic prosperity,” he said.
The statement said that as Africa prepared for the operational launch of the African Energy Bank, the Nigerian government called on industry stakeholders to engage proactively and explore the vast opportunities presented by the initiative.
“The successful take-off of the bank will mark a new era in Africa’s energy development, positioning the continent as a global force in the sector,” the statement added.
Economy
Afriland Properties, CSCS Boost NASD Index by 0.38%

By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange maintained its upward movement on Thursday, February 13, with a 0.38 per cent gain.
This moved the market capitalisation of the trading platform higher by N6.94 billion to close at N1.818 trillion compared with the previous day’s N1.811 trillion and the NASD Unlisted Security Index (NSI) expanded by 12.24 points during the trading day to close at 3,210.04 points compared with 3,197.80 points recorded in the previous session.
The two companies ended on the gainers’ chart yesterday, with Afriland Properties Plc growing by N1.41 to trade at N20.41 per share versus N19.00 per share, and Central Securities Clearing System (CSCS) improved by N1.00 to finish at N24.50 per unit, in contrast to Wednesday’s N23.00 per unit.
The volume of securities traded in the session went down by 96.8 per cent to 465,820 units compared with the 14.7 million units recorded at midweek, the value of shares traded by investors depleted by 57.8 per cent to N9.6 million from the N22.8 million achieved a day earlier, and the number of deals went down by 50.00 per cent to 10 deals from the 20 deals recorded in the previous trading session.
When the market closed for the session, Impresit Bakolori Plc was the most active stock by value (year-to-date) with 533.9 million units worth N520.9 million, followed by FrieslandCampina Wamco Nigeria Plc with 4.3 million units valued at N170.4 million, and Geo-Fluids Plc was in third with 9.1 million units sold for N44.3 million.
Impresit Bakolori Plc was also the most active stock by volume (year-to-date) with 533.9 million units worth N520.9 million, trailed by FrieslandCampina Wamco Plc with 7.4 million units sold for N294.6 million, and Afriland Properties Plc with 3.3 million units valued at N58.6 million.
Economy
Naira Now N1,510/$1 at Official Market, N1,570/$1 at Parallel Market

By Adedapo Adesanya
The Naira witnessed a depreciation of 0.23 per cent or N1.80 on the US Dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Thursday, February 13.
According to data obtained by Business Post from the FMDQ Securities Exchange, the exchange rate of the Naira to the Dollar closed at N1,510.00/$1, in contrast to the preceding day’s N1,506.56/$1.
But the domestic currency closed flat against the Pound Sterling and the Euro in the spot market yesterday at N1,872.10/£1 and N1,559.96/€1, respectively.
The local currency, however, improved its value against the US Dollar at the parallel market on Thursday by N5 to trade at N1,570/$1 compared with the N1,575/$1 it was transacted at midweek.
In the cryptocurrency market, there were major positive outcomes after US inflation at the wholesale level came in faster than forecast last month in another disappointment to investors and policymakers hoping for cooling price pressures.
The Producer Price Index (PPI) rose 0.4 per cent in January versus forecasts for 0.3 per cent and 0.2 pr cent in December. On a year-over-year basis, PPI was higher by 3.5 per cent against estimates for 3.2 per cent and 3.3 per cent in December.
The markets were earlier surprised by Consumer Price Index (CPI) data for January that came in far stronger than estimate
Ripple (XRP) jumped by 3.8 per cent to close at $2.56, Litecoin (LTC) recorded a 3.5 per cent rise to trade at $127.02, Cardano (ADA) rose by 2.7 per cent to finish at $0.7981, Dogecoin (DOGE) appreciated by 0.5 per cent to sell at $0.2621, Bitcoin (BTC) gained 0.3 per cent to end at $96,751.51, and Solana (SOL) increased by 0.3 per cent to settle at $195.77.
On the flip side, Binance Coin (BNB) went down by 5.3 per cent to quote at $671.23, and Ethereum (ETH) depreciated by 0.4 per cent to close at $2,699.64, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) traded flat at $1.00 apiece.
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