BCG Advises Fuel Retailers to Modernise Service Stations

By Modupe Gbadeyanka The 27 lawmakers of the Rivers State House of Assembly loyal to the Minister of FCT, Mr Nyesom Wike, have defected to the All Progressives Congress (APC). The legislators won elections into the state parliament in 2023 through the Peoples Democratic Party (PDP). However, following a political crisis between Governor Sim Fubara and his predecessor, Mr Wike, the 27 lawmakers attempted to impeach the Governor, which was botched. President Bola Tinubu had to intervene in the matter and asked Mr Wike and Mr Fubara to maintain peace. Last week, a video of the Minister singing the popular

The federal government has expressed its readiness to intensify efforts toward Nigeria’s 3.14 million hectares of irrigation systems to boost food production in the country. Minister of Water Resources and Sanitation,  Mr Joseph Terlumun Utsev, disclosed this at the ongoing 5-day National Workshop of the Nigerian National Committee on Irrigation and Drainage (NINCID ) themed The Role of Irrigation and Drainage Practices for Food Security in Nigeria in Kano. The Minister who gave this assurance also reiterated that the government is committed to ensuring adequate water supply to homes,  industries, and for agriculture purposes nationwide. The Minister, who was represented

By Adedapo Adesanya President Bola Ahmed Tinubu on Tuesday ordered an investigation after the army acknowledged one of its drones accidentally struck Tudun Biri village as residents were celebrating a Muslim festival. The army did not give any casualty figures, but residents claimed 85 of them, who were mainly women and children, died in the attack, which has sparked public outrage. On its part, Amnesty International’s Nigeria office said 120 people were killed in the attack, citing reports of its workers and volunteers in the area. But the North-West zonal spokesperson of the National Emergency Management Agency (NEMA), Mrs Halima

By Adedapo Adesanya Operatives of the National Drug Law Enforcement Agency (NDLEA) have uncovered illicit substances bound for Europe, the United Arab Emirates and Asia. Disclosing this in a statement on Sunday, NDLEA spokesman, Mr Femi Babafemi, said the illicit substances intercepted included various quantities of methamphetamine and opioids concealed in hems of new jeans trousers, dolls, buttons, local soap and tins of milo beverage. He noted that the operation was carried out by operatives of the Directorate of Operations and General Investigation (DOGI) at courier houses in Lagos, he said some of the items seized included tramadol 225mg concealed

By Modupe Gbadeyanka Six directors of Transglobe Investment & Finance Company Limited have been directed by the Securities and Exchange Commission (SEC) to appear before it on Wednesday, January 18, 2017. In a circular posted on its website, the capital market regulator noted that it was summoning the market operator because of “various complaints against Transglobe Investment & Finance Company Ltd” it received from investors, which are presently under investigation. It pointed out that in view of this, the six directors and their sponsored individuals must appear before it on the aforementioned date. SEC explained in the circular that the

By Modupe Gbadeyanka At the close of trading activities on the floor of the Nigerian Stock Exchange (NSE) on Friday, the market capitalisation increased further by N112 billion, closing at N11.73 trillion, compared with N11.61 trillion achieved on Thursday, Business Post reports. The volume and value of shares transacted by investors finish higher, with a total of 378.2 million shares traded at N5.1 billion in 4,516 deals, in sharp contrast to 191.4 million equities exchanged yesterday worth N2.2 billion executed in 3,718 deals. The All-Share Index (ASI) advanced by 324.54 points to settle at 34,020.37 points, pushing the YTD Gain

By Ashemiriogwa Emmanuel  The police command in Kwara State has put in place a series of security arrangements across the length and breadth of the state for a safe Independence Day celebration. A statement released by the Police Public Relations Officer (PPRO) for the command, Mr Ajayi Okasanmi, on Thursday, disclosed that 1,500 policemen and women have been deployed to provide security today. According to the statement, “The Commissioner of Police Kwara State Command, CP Tuesday Assayomo, has also directed Area Commanders of the Eight Area Commands, DPOs and all Tactical teams in the state to embark on aggressive patrols

By Adedapo Adesanya Top financial institution, Access Bank Plc, has unveiled what it called the Device Finance scheme, designed to provide salaried customers with the opportunity to purchase smartphones of their choice and pay over a period of 12 months. This is part of the bank’s efforts at driving innovative economic digital finance solutions which will provide more Nigerians with access to credit. According to the Executive Director, Retail Banking, Mr Victor Etuokwu, “Access Bank has taken the initiative to lead the digitization of lending in Nigeria and wants every customer to benefit from the modern connected lifestyle. Through our

By Adedapo Adesanya Global food prices retreated slightly from their all-time high range since 1990 in April 2022, according to the United Nations Food and Agriculture Organisation (FAO). The FAO Food Price Index (FFPI) averaged 158.5 points in April 2022, down 1.2 points (0.8 per cent) from the all-time high reached in March, though still 36.4 points (29.8 per cent) above its value in the corresponding month last year. The drop in the FFPI in April was led by a significant downturn in the vegetable oil sub-index, along with a slight decline in the cereal price sub-index. Meanwhile, sugar, meat

By Adedapo Adesanya The Department of Petroleum Resources (DPR) has announced that it shutdown 86 illegally operated Liquefied Petroleum Gas (LPG) plants in Lagos State in 2020. This disclosure was contained in a statement issued by the head of Public Affairs of DPR, Mr Paul Osu, on Wednesday, March 10, 2021, in Lagos. The agency noted that LPG (otherwise known as cooking gas) plants were shut down for non-compliance with international safety standards. The DPR official said that the plants were also operating without prerequisite approval or licence from the regulatory agency. He also pointed out that some of the

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange opened the week in the negative territory as the bourse witnessed a 1.40 per cent loss on Monday, June 5. This was influenced by the sole price loser, FrieslandCampina Wamco Nigeria Plc, which fell by N4.00 to sell at N71.00 per unit compared with the preceding session’s N75.00 per unit. The milk-producing firm pushed down the efforts of Niger Delta Exploration and Production (NDEP) Plc and Industrial and General Insurance (IGI) Plc to lift the OTC stock market. NDEP gained N1.16 during the session to finish at N246.21 per share versus

By Ahmed Rahma With over one billion population, the World Health Organisation (WHO) has said Africa will need at least $9 billion to procure COVID-19 vaccines. This disclosure was made at the WHO Africa online press briefing held on Thursday. The event focused on ramping up preparedness for COVID-19 vaccine roll-out in Africa. According to to the Immunisation and Vaccines Development Programme Coordinator of WHO, Dr Richard Mihigo, it is not just about the cost of the vaccine but the cost of delivering them and ensuring that they get to the right location, noting that there were no guarantees that