NNPC to Fix Faulty Abura Crude Trunkline in 3 Days

By Modupe Gbadeyanka Business owners in Lagos have been assured of more incentives by the state governor, Mr Babajide Sanwo-Olu, who added that this is part of his administration’s commitment to reforms aimed at improving the ease of doing business and enhancing investment opportunities. Speaking at the commissioning of the newly-built wet hair production factory of Godrej Nigeria Limited, the Governor said his government would continue to pursue actions that would eliminate red tapes and regulatory impediments hindering the growth of businesses in the state, thereby demonstrating his willingness for continued collaboration with the private sector to improve the livelihood

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 Dipo Olowookere The Nigerian Exchange (NGX) Limited commenced the first trading session in December 2023 on a bullish note, with a marginal growth of 0.08 per cent. Sustained buying pressure kept Nigerian stocks in the positive territory, extending the dominance of the bulls on Customs Street, though the turnover waned. Business Post observed that investors cherry-picked equities in the banking and the energy sectors during the session, leaving them rising by 1.14 per cent and 0.05 per cent, respectively. However, the insurance counter lost 1.10 per cent, the consumer goods index depreciated by 0.08 per cent, and the industrial

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 Dipo Olowookere Governor Abdulfatah Ahmed of Kwara State has expressed his administrations readiness to set up an agency to manage the State health insurance scheme. The Governor made this known when he received Professor Khama Rogo, Lead Health Specialist and Head of the World Bank Group’s Health in Africa Initiative and his team at the government house in Ilorin on Monday. While expressing delight that the health insurance law has been passed, Mr Ahmed said a strong agency will be setup with adequate personnel provide strong healthcare service delivery and drive health sector funding away from supply end financing.

By Modupe Gbadeyanka The ban on commercial motorcycles otherwise known as Okada in Lagos State has been extended to more local councils from Thursday, September 1, 2022. The Commissioner for Transportation, Mr Frederic Oladehinde, at a press conference in Lagos on Thursday, disclosed that from next month, Okada riders would not be allowed to ply major roads in four additional Local Government Areas (LGAs) and six Local Council Development Areas (LCDAs). The new areas to observe the ban on commercial motorcycle operations are Kosofe, Oshodi-Isolo, Somolu and Mushin Local Government Areas as well as Ikosi-Isheri LCDA, Agboyi-Ketu LCDA, Isolo LCDA,

By Dipo Olowookere Mid-level lender, Union Bank of Nigeria Plc, has commenced the sale of commercial papers worth N20 billion to be used for further working capital as it delivers on its promise to be the country’s most trusted and reliable banking partner. Business Post gathered that the CP sale commenced on Thursday, January16, 2020 and will close on Tuesday, January 21, 2020. They debt instrument would be offered across two tenors, 180-day and 268-day for Series 3 and 4 respectively. It was learned that the N20 billion paper issuance is under the N100 billion Commercial Paper programme registered by

By Modupe Gbadeyanka Acting President, Mr Yemi Osinbajo, on Wednesday, July 26, 2017, sworn in two new Ministers in Abuja. At the brief ceremony held at the Presidential Villa, the Acting President charged the two new Ministers to see the position as a call to service. The two new Ministers are Stephen Ocheni from Kogi State and Suleiman Hassan from Gombe State. The swearing in ceremony was performed during the Federal Executive Council (FEC) meeting today at the Council Chamber of the State House. Mr Ocheni was appointed to replace Mr James Ocholi, the Minister of State for Labour and

By Adedapo Adesanya The nation’s steel industry, when fully developed, could generate not less than 40,000 jobs and would drive economic growth, the federal government has said. According to the Minister of Mines and Steel Development, Mr Olamilekan Adegbite, the steel sector has the capability to propel the economic diversification agenda of the present administration. Mr Adegbite, who was at a facility tour of Premium Steel and Mines Limited, Warri Delta State, therefore, encouraged the management of the firm to begin full operations to help achieve these goals. “The mandate of the ministry is to expand the sector, use it

By Ebitonye Akpodigha The alarming rate at which hoodlums vandalise power installations belonging to the Kano Electricity Distribution Company Plc (KEDCO) is already giving the company sleepless nights. Public Relations Officer of KEDCO, Mr Mohammed Kandi, disclosed this in a statement issued to newsmen in Kano. He said properties of the company valued at N108.8 million have been destroyed by the hoodlums from August 2016 till date. Mr Kandi lamented that the spate of vandalism, energy theft and meter bypass, which had recently risen extremely in KEDCO’s areas of operation, was becoming too difficult for the company to bear anymore.

By Dipo Olowookere Since Samsung AddWash front-loader washing machines hit the market, it has been the toast of many consumers, who prefer because of its design to have less impact on both the environment and the consumer’s pocket, thanks to their innovative Eco Bubble technology. “AddWash machines are intended to make washday much easier, thanks to the larger load capacity, as well as the cleverly-designed additional AddWash door. “It allows users to add laundry items or even top up fabric softener at any stage during the wash cycle,” says Michael McKechnie, Director: Digital Appliance at Samsung South Africa. Perhaps more

By Ahmed Rahma The federal government has signed a Memorandum of Understanding (MoU) with the United States Department of Agriculture (USDA) West Africa Pro- Cashew Project to increase cashew productivity in Nigeria. The deal was sealed last Thursday in Abuja for Nigeria by the Minister of Agriculture and Rural Development, Mr Muhammed Nanono. The Minister described this as another milestone in the record of the ministry’s history in its hunt to achieve national food and nutrition security, among others. Mr Nanono, who noted that the ministry over the years had achieved increase in the production of crops of strategic importance