Corner Shops Faring Better than Big Box Stores, Online Retailers—Research

By Adedapo Adesanya The federal government has declared Monday, October 2, 2023, a public holiday to celebrate Nigeria’s 63rd Independence Day, which falls on Sunday, October 1. The Minister of Interior, Mr Olubunmi Tunji-Ojo, made this known in a statement signed by the ministry’s Permanent Secretary, Mrs Oluwatoyin Akinlade, in Abuja on Thursday. Mr Olubunmi acknowledged the global socio-economic hardship, noting that Nigeria is not excluded. He, however, reasserted the government’s commitment to tackling the issues facing the country to reassure Nigerians. “It is today a known fact that difficult Socio-Economic and Security challenges are global, and Nigeria is not

By Bliss Okperan The Sokoto State Election Petition Tribunal will on Saturday, September 30, 2023, deliver a judgement on the petition filed by the candidate of the Peoples Democratic Party (PDP) in the governorship election in the state, Mr Sa’idu Umar. Mr Umar challenged the victory of the Governor of Sokoto State, Mr Ahmed Aliyu, who contested the poll under the platform of the All Progressives Congress (APC). He said Mr Aliyu was not qualified to partake in the poll and also alleged electoral fraud during the March 18 governorship election. In a press release, the court stated that, “Take

By Adedapo Adesanya The Nigerian Maritime Administration and Safety Agency (NIMASA) has been chosen as the best federal government agency in Digital Transformation. This recognition came from the Presidency through the Bureau of Public Service Reforms (BPSR). In a statement, it was disclosed that the Director-General of the maritime regulator, Mr Bashir Jamoh, has been nominated to receive the distinguished GovTech Trailblazers Award for his exemplary leadership. The BPSR explained that the nominees were picked from a nationwide nomination and online voting process initiated by the bureau, as well as a detailed analysis of the performance of all government MDAs

By Bliss Okperan President Bola Tinubu has joined other persons and organisations to rejoice with Muslims all over the globe, particularly in Nigeria, over the birthday celebration of Prophet Mohammed. The federal government declared Wednesday, September 27, 2023, a public holiday for Eid-El-Maulud, and the President, as well as his opponent in the 2023 presidential election, Mr Peter Obi of the Labour Party (LP), has joined to celebrate the day. In a statement from the State House in Abuja, Mr Tinubu urged Muslims to use the day “for deep introspection and fervent prayers,” stressing they should “make deliberate efforts to

By Modupe Gbadeyanka Last week, 1.2 billion shares worth N22.8 billion were transacted on the floor of the Nigerian Stock Exchange (NSE) in 21,156 deals compared with the 2.1 billion stocks valued at N26.5 billion that exchanged hands the previous week in 24,262 deals. A breakdown showed that equities in the financial services industry dominated trading with 837.5 million units worth N10.5 billion executed in 12,041 deals, contributing 67.69 percent and 46.17 percent to the total equity turnover volume and value respectively. It was also observed that shares in the industrial goods sector followed with 154.5 million units worth N3.0

By Kester Kenn Klomegah The BRICS, an association of five major emerging economies Brazil, Russia, India, China and South Africa, has a significant influence on regional affairs and is very active on the global stage. All of them are members of the G20. While the group has received both praise and criticism from different corners of the world, BRICS is steadily working towards realizing its set goals, bilateral relations among them are also conducted on the basis of equality and mutual benefits. In this exclusive interview for IDN, Dr Byelongo Elisée Isheloke, who is currently a Postdoctoral Research Fellow at

By Aduragbemi Omiyale The Minister of Industry, Trade and Investment, Mrs Doris Uzoka-Anite, has assured Nigerians that doing business with India is the best thing to do because it would lead to prosperity. She said this at the G 20 Summit concluding today, Sunday, September 10, 2023, in New Delhi, the Indian capital. The Minister travelled to the South Asian nation alongside President Bola Tinubu and others to attract more foreign direct investments (FDIs) into the country. In a statement issued at the weekend by her media aide, Mr Oladapo Sofowora, the Minister described India as Nigeria’s old friend, noting

By Dipo Olowookere A Memorandum of Understanding (MoU) has been signed by the American University of Ras Al Khaimah (AURAK) and Neon Energy Green Building Construction Materials, a multinational German firm which focuses on energy-efficiency and renewable solutions. Neon Energy will assist the university throughout its participation in the 2018 Solar Decathlon Middle East competition, which will see AURAK construct an entirely sustainable, zero-energy home. The agreement ensures that the students who form the university’s team will receive training, support and the latest technology as they participate in the prestigious event. Prof. Hassan Hamdan Al Alkim, president of the university,

By Dipo Olowookere MasterCard has called for applications for its next Start Path Global 2017 class, open to African start-ups across the world rethinking banking and payments and have also raised a significant seed or Series A round of investment. The initiative is to support innovative later-stage start-ups reshaping the future of commerce with the focus on Africa. Applicants have been urged to submit their entries. During a six-month virtual programme, Start Path will provide start-ups with the operational support, mentorship, and investment they need to develop the next generation of commerce solutions and grow their operations. Selected companies will

Traders affected by the Sunday morning explosion in the Abule Ado area of Lagos State have been assured of “some token contributions” by Fidelity Bank Plc. Managing Director/Chief Executive Officer of Fidelity Bank, Mr Nnamdi Okonkwo, made this pledge on Monday when he and other executive management staff of the lender visited scene of the unfortunate incident. Mr Okonkwo, who commiserated with traders and others victims of the tragic explosion, prayed for the repose of the souls of those who died in the explosion. He said the promised support would be given to members of traders’ associations whose shops and

By Taiwo Omilani The Lagos Chamber of Commerce and Industry (LCCI) has stressed the need for the Central Bank of Nigeria (CBN) to have a broader view of the economy, supporting sectors outside the manufacturing and agriculture. President of the LCCI, Mr Babatunde Ruwase, gave this charge on Thursday at a press conference held in Lagos to address state of the nation. According to him, the apex bank should have a broader view of the economy as sectors other than the real sector also have tremendous impact on the economy, and in fact complements the real sector, which is why

By Adedapo Adesanya As part of the first order of business, the Acting Chairman of the Federal Inland Revenue Service (FIRS), Mr Zacch Adedeji, has set a target of a tax-to-GDP ratio of 18 per cent within the next three years. Nigeria currently has a tax-to-GDP of 10.8 per cent and President Bola Tinubu has vowed to boost this above African peers like Cote d’Ivoire, Cameroon, and Senegal among others, who have between 15 per cent and 16 per cent. Speaking on Monday when he officially took over from his predecessor, Mr Muhammad Nami, the new FIRS chief said, “By