ALGON President Greets Sultan at 63

By Modupe Gbadeyanka The 12-year-old boy with missing intestines, Adebola Akin-Bright, who has been receiving treatment at the Lagos State University Teaching Hospital (LASUTH), Ikeja, has died. Adebola died on Tuesday evening, according to reports. He was to be flown abroad for an intestine transplant to get him back to normal before he breathed his last today. Adebola had surgery at a private hospital in the Alimosho area of the state known as Obitoks Medical Centre, but it was later discovered that his intestines were missing. The Lagos State House of Assembly had on Tuesday asked Governor Babajide Sanwo-Olu to

By Adedapo Adesanya The Minister of Power, Mr Adebayo Adelabu, has revealed that a fire outbreak at the Kainji/Jebba line caused the national grid collapse that has resulted in the general power outage experienced all over the country. In a statement shared on X, formerly known as Twitter, he said the outbreak has been taken care of and called for calm as the issue is resolved. He wrote, “At 00:35Hrs this morning, a fire outbreak with an explosion sound was observed on Kainji/Jebba 330kV line 2 (Cct K2J) blue phase CVT & Blue phase line Isolator of Kainji/Jebba 330kV line1

By Precious Olisa Three Nigerian women entrepreneurs have been selected among 24 finalists for the 2023 African Women Innovation and Entrepreneurship Forum (AWIEF) awards. The Nigerians are the CEO of Bridge Merchant Enterprise (Agri Entrepreneur Award), Ms Chinwendu Nweke; the CEO of Clean Technology Hub (Energy Entrepreneur Award), Ms Ifeoma Malo; and the co-founder/CEO of D-Olivette Global Enterprise, (Social Entrepreneur Award), Ms Damilola Aminat Adeyemi. Launched in 2017, the annual AWIEF Awards is an initiative to recognise, honour, and celebrate women entrepreneurs and business owners in Africa across various industry sectors for their achievements and contribution to the continent’s inclusive

By Adedapo Adesanya The Minister of Solid Minerals Development, Mr Dele Alake, has reiterated that his ministry would work with state governors to harness mineral resources for maximum socio-economic development of the country as the federal government seeks to explore all alternative revenue sources away from oil and borrowing. Mr Alake gave this assurance when the Governor of Nasarawa State, Mr Abdullahi Sule, paid him a courtesy visit in his office at the ministry’s headquarters in Abuja on Thursday. He noted that the ministry was determined and committed to harnessing the nation’s mineral resources, emphasising that Nasarawa State and other

By Dipo Olowookere As part of strategies to position itself as the online platform with the cheapest merchandise in the country, Jumia Nigeria has introduced the ‘Last Price Campaign.’ The move is majorly to make online shoppers to make Jumia Nigeria their preferred place to get their items at unbeatable prices. According to a statement issued by the e-commerce giant, the “objective is to offer customers the very best prices on over 1,000 iconic products across all categories on its platform.” According to Olamide Amosu, Head of Engagement, Jumia Nigeria, “The objective of the campaign is simple: show our customers

By Dipo Olowookere In order to meet up with its expansion plans, one of the makers of fertiliser in Nigeria, Notore Chemical Industries Plc, may need at least N40 billion. According to a report by Reuters on Friday, the board will first need the approval of shareholders of the company to raise this fresh capital. Last month, Business Post reported that the Group Deputy Managing Director of Notore, Mr Ohis Ohiwerei, had assured that the company will take various steps to boost profitability in the current financial year. One of the ways listed to achieve this goal was to explore

Cryptocurrencies’ mainstream popularity has generally been restricted as a trading tool by its poor use owing to volatility, costs and transaction speed. The possibility of improved technology platforms, nevertheless, allows digital currencies to be integrated. One in 10 financial institutions representing over one-fifth of the world population – expects to issue its own numerical currencies over the next three years, according to a poll carried out by the Bank for International Settlements. “The change to virtual currencies is imminent with clear benefits in respect of monetary inclusiveness and access; the financial system’s effectiveness, speed and resilience; and the capacity to

By Adedapo Adesanya Brent crude dipped by 5.7 per cent or $4.56 to $108.18 per barrel on Wednesday as the market fears a looming recession would drive down global oil demand. Also, the price of the US West Texas Intermediate (WTI) crude was down by 6.24 per cent or $5.26 during the session to settle at $102.77 per barrel as analysts project that the action taken by the US Federal Reserve to rein in inflation with aggressive interest rate hikes may not produce the desired effect and will actually lead to a recession within a year or a year and

By Modupe Gbadeyanka Investors at the Nigerian stock market lost N11 billion on Thursday following decisions by some of them to sell-off their holdings. This further deepened the Nigerian Stock Exchange (NSE) in the negative territory and made it the third consecutive time this week that the market was closing bearish. At the close of transactions yesterday, the stock market was down by 0.09 percent with the year-to-date loss standing at 15.22 percent. Specifically, the All-Share Index (ASI) went down by 30.46 points to close at 32,423.57 points, while the market capitalisation decreased by N11 billion to finish at N11.837

By Dipo Olowookere The All Progressives Congress (APC) in Rivers State has hailed the revolution in the rail sector engendered by the Muhammadu Buhari administration through the Ministry of Transportation under the leadership of Mr Rotimi Amaechi. The party, in a statement signed by the State Chairman, Dr Davies Ibiamu Ikanya, expressed the hope that the administration would in time fully revive and reposition the transportation sector as well as the entire Nigerian economy. The commendation came ahead of the signing, on Thursday by the Federal Government, of contracts for the Port Harcourt–Calabar coastal rail line project expected to be

By Ahmed Rahma About N2.18 billion was withdrawn in the third quarter of 2020 by 1,286 employees under the Contribution Pension Scheme (CPS). This information was revealed by the National Pension Commission (PenCom). The agency noted that the amount was taken by the workers from the voluntary contributions in their Retirement Savings Accounts (RSAs) with their Pension Fund Administrators (PFAs). In its 2020 third quarter report, PenCom stated that, “During the quarter under review, the commission granted approval for withdrawal of the sum of N2.18 billion from the voluntary contribution accounts of 1,286 contributors.” The guidelines on voluntary contribution under

By Dipo Olowookere Nigerians have received with excitement news of the entry of Kwese TV into the pay TV industry in the country. The firm launched its services in Nigeria on Thursday at a ceremony held in Lagos and was witnessed by members of the media. Speaking at the event, the General Manager of Kwese TV, Mrs Elizabeth Ampka, noted that “Kwesé comes with the ‘pay-as-you-watch’ subscription packages for premium programming which enables consumers to purchase three and seven day subscriptions at N990 and N1,850 respectively, as well as a 30 day subscription option for only N6,275.” She assured subscribers