BUA Group Blasts CACOVID over Vaccine Purchase

By Adedapo Adesanya President Bola Tinubu has promised fresh growth and job reforms in the coming months after he removed fuel subsidies and directed the float of the Naira to unify the exchange rate. The Nigerian president made this known during his first address at the 78th United Nations General Assembly in New York, the US, after he took over the helm of office from Mr Muhammadu Buhari in May. He said, “To foster economic growth and investor confidence in Nigeria, I removed the costly and corrupt fuel subsidy while also discarding a noxious exchange rate system in my first

By Adedapo Adesanya Following President Bola Tinubu’s visit to India last week, the country’s oil company, the Nigerian National Petroleum Company (NNPC) Limited, has signed a memorandum of understanding (MoU) with Indorama Eleme Petrochemicals Limited on gas supply in a bid to promote the use of natural gas by large-scale gas utilization industries. The deal, if actualised, will allow both parties to explore and develop suitable opportunities within the remits of their interests across the hydrocarbon value chain in Nigeria. According to NNPC Group Chief Executive Officer (GCEO), Mr Mele Kyari, “NNPC Limited is on the threshold of making value

By Adedapo Adesanya The two leading opposition presidential candidates in the 2023 general elections, Mr Atiku Abubakar of the Peoples Democratic Party (PDP) and Mr Peter Obi of the Labour Party, on Tuesday, approached the Supreme Court to upturn the judgment of the Presidential Election Petition Court (PEPC), which on September 6, affirmed Mr Bola Tinubu of the All Progressives Congress (APC) as winner of the exercise held on Saturday, February 25. Mr Atiku, in his Notice of Appeal predicated on 35 grounds, insisted that the tribunal, in the judgment delivered by Justice Haruna Tsammani, committed grave error and miscarriage

By Modupe Gbadeyanka A socio-political group known as Save Enugu Group has congratulated Governor Peter Mbah of Enugu State on his recent Supreme Court victory. The organisation described the victory as well-deserved, urging politicians in the state to join forces with the governor to move the state forward. Last Friday, the country’s apex court dismissed an appeal filed by the candidate of the All Progressives Congress (APC) in the governorship election in the state, Mr Uche Nnaji. The opposition party challenged the victory of Mr Mbah of the Peoples Democratic Party (PDP) in the March 18, 2023, gubernatorial poll, asking

By Modupe Gbadeyanka Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah, has been elected the Vice-Chairperson representing Africa, for the 11th World Trade Organisation (WTO) Ministerial Conference. Nigeria’s election was decided at the meeting of the WTO General Council on July 26, 2017. The General Council acts on behalf of the Ministerial Conference on all WTO affairs. It meets as the Dispute Settlement and Trade Policy Review Body to oversee procedures for settling disputes between members and to analyse members’ trade policies The Ministerial Conference, which meets every two years, is the topmost decision-making body of the WTO. It

By Modupe Gbadeyanka The House of Representatives has called on the National Insurance Commission (NAICOM) to suspend its recapitalisation programme for insurance companies in Nigeria. The regulatory agency for underwriters in the country had asked all players in the sector to increase their capital base for over a year now. The process was to be concluded in the first half of next year, with the first phase expected to be completed by December 31, 2020. But members of the lower chamber of the National Assembly want this policy to be suspended because, according to them, this is not the right

By Dipo Olowookere Not less than 5,500 employees of Cisco Systems Inc will lose their positions in the US-based company, Business Post has learnt. The company disclosed that the affected workers would be asked to go over the next 12 months. It was further leant that the job cuts will begin in 2017 as the company attempts to accelerate a major restructuring project, shifting its focus onto other growth areas such as security, internet of things, collaboration and cloud services. Cisco is one of the only several high profile ICT firms that has found itself struggling to attempt to adapt

Football is a global sport; with this comes the international transfer of players away from their domestic leagues. Known as one of the biggest, most competitive leagues in the world, the Premier League has played host to some of the best players throughout history, including the likes of Thierry Henry, Dennis Bergkamp and Cristiano Ronaldo. Among these stars are some of the finest footballing talents to come out of Nigeria – both past and present. This piece takes a look at some of the best players to hail from Nigeria and play in the Premier League. Jay-Jay Okocha Playing at

By Investors Hub European stocks have moved mostly higher on Friday following the release of the upbeat U.S. employment report. While the French CAC 40 Index has risen by 0.5 percent, the U.K.?s FTSE 100 Index and the German DAX Index are both up by 0.2. Geoscience company CGG has jumped in Paris after its fourth quarter net loss narrowed from last year. Meanwhile, French media group Lagardere has plummeted after posting disappointing annual results. Inmarsat has also tumbled after the British satellite company cut its dividend after its fourth quarter profit after tax plunged 51.3 percent to $32.7 million

By Adedapo Adesanya Another month of underproduction in Nigeria has led to a much shorter volume of crude oil output of the Organisation of the Petroleum Exporting Countries (OPEC) in April. A Reuters survey showed that the bloc produced 28.58 million barrels per day last month and Nigeria, which is the largest producer in Africa, posted a decline of 40,000 barrels per day caused by a force majeure on the Bonny Light export stream. By calculations, this means that OPEC’s 10 members under an output deal produced only 40,000 barrels per day more than in March. The output deal called

By Dipo Olowookere The management of Okomu Oil Palm Company Plc has reacted to an allegation made against it by a group known as Environmental Rights Action/ Friends of the Earth Nigeria (ERA/FoEN), alleging that the company had been “parading” a Roundtable on Sustainable Palm Oil(RSPO) certificate. In a statement signed by its Managing Director, Mr GD Hefer, the Benin-City, Edo State-based agro firm categorically denied “this allegation and dismiss this assertion as false, defamatory and without foundation.” Okomu Oil tasked the NGO to “immediately furnish the requisite proof that the company had been doing so or face the consequences.”

By Ashemiriogwa Emmanuel A leading auto dealership in Nigeria, Coscharis Motors, has partnered with Sterling Bank Plc to offer a vehicle finance scheme to allow retail and fleet buyers to purchase their choice vehicles through a repayment plan from the bank. The partnership has also seen that the auto company lists its vehicles on the bank’s Non-Interest Banking Division platform- AltDrive to equally promote e-commerce transactions. With this, customers are offered an online retail marketplace where vehicular brands sold by Coscharis Motors can be accessed and purchased either through self-funding or credit finance from Sterling Bank. The Coscharis Group General