FG to Stop Electricity Subsidy in 2022

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 On October 1, 2023, food enthusiasts and stakeholders will gather at the Tafawa Balewa Square, Lagos to have a taste of Nigerian cuisine at an event organised by 3X4 Foods, a subsidiary of 3 BY 4 Gourmet. The founder of 3X4 Foods, Ms Banke Makinde, said the programme, Street Food Celebration, would be used to showcase the Nigerian culture, through food, to the world. She said the event would provide an opportunity to celebrate Nigeria’s culture, history, and people through street food, and promote cultural entertainment, and delicious gourmet street food. According to her, Street Food Celebration

By Adedapo Adesanya The chief executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mr Gbenga Komolafe, has cancelled all activities lined up for his 60th birthday amid increased calls for his sack. Mr Komolafe, a Fellow of the Nigerian Society of Engineers (NSE), turned the milestone age on Tuesday, September 26 and there was a planned thanksgiving service to mark the day slated for this Saturday, September 30. However, he said that amid the current economic state in the country, he has decided to cancel all the planned celebrations, according to a report by Premium Times. This development comes

By Adedapo Adesanya The £4.25 billion takeover of Chelsea Football Club has been completed after Russian billionaire, Mr Roman Abramovich, agreed to the United Kingdom government’s terms for the sale. Business Post had reported that an American consortium bid led by Mr Todd Boehly, a part-owner of baseball’s LA Dodgers, was given permission to go through. According to Ms Nadine Dorries, the culture secretary, the UK government issued a licence on Tuesday night that permits the sale of Chelsea. “We will now begin the process of ensuring the proceeds of the sale are used for humanitarian causes in Ukraine, supporting

By Adedapo Adesanya President Muhammadu Buhari has approved a second tenure for Mr Ben Akabueze as the Director-General of the Budget Office of the Federation. The presidential approval was disclosed on Sunday, May 17 in a statement signed by Mr Yunusa Tanko Abdullahi, Special Adviser to the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed. Mr Akabueze’s current tenure is scheduled to expire on Wednesday, June 10, 2020. He was first appointed as a Special Adviser on Planning to the President on February 15, 2016, and was designated within months as DG of the budget office on June

By Aduragbemi Omiyale The Inspector-General of Police, Mr Usman Alkali Baba, has directed a probe into allegations that a super cop, Mr Abba Kyari, had dealings with suspected internet fraudster, Mr Abbas Olohunwa, otherwise known as Hushpuppi. The Instagram star was apprehended in the United Arab Emirates (UAE) in 2020 for alleged defrauding several persons in the United States. He was trailed by the Federal Bureau of Investigation (FBI) before his arrest and then taken to American for prosecution. A while ago, it was reported that he pleaded guilty to the charges against him after agreeing to speak the truth

By Modupe Gbadeyanka Gains recorded by Mobil, 7up and 15 other equities were enough to lift the Nigerian Stock Exchange (NSE) and return it to the green zone. At the close to trade on Thursday, the stock market marginally rose by 0.05 percent, leaving the year-to-date return to close at 36.32 percent. But despite the gains, the market breadth closed negative today with 17 price gainers and 25 price losers. Mobil appreciated by N5 to close at N170 per share, while 7up increased by N4 to settle at N90 per share. International Breweries garnered N1.80k to finish at N51.80k per

By Dipo Olowookere Standard Chartered has announced the start of the second phase of its digital-only retail bank across Africa. In response to growing consumer demand for innovative banking services on the continent, the lender will launch its digital solution in four key markets during the first quarter of 2019 starting in Uganda in January, followed by Tanzania in February, with Ghana and Kenya to follow. Following the successful launch of Standard Chartered’s first digital retail bank in Côte d’Ivoire last year, the second phase builds on the original CDI platform that onboards clients in under 15 minutes and provides

By Modupe Gbadeyanka Justice J. K. Omotosho of a Federal High Court sitting in Port Harcourt, Rivers State, has ordered the arrest and detention of three crude oil drilling rigs belonging to Oando Energy Services Limited (also known as OES Energy Services Limited). The vacation judge gave this ruling following debts of $15.4 million (about of N4.7 billion) and N14.2 million. The arrest and detention order for the three drilling rigs named OES Teamwork, OES Integrity and OES Passion came on Thursday, August 17, 2017. The court order was made consequent upon suit number FHC/PH/CS/102/2017 filed by oil and gas

By Modupe Gbadeyanka Future Market Insights (FMI) delivers key insights on the global battery management system (BMS) market in its latest report titled, “Battery Management System Market: Global Industry Analysis and Opportunity Assessment, 2015–2025”. Global battery management system market revenue is expected to increase at a CAGR of 19.9% during the forecast period (2015–2025). Battery management system is an electronic system that helps to maintain optimal health of rechargeable batteries. BMS controls load environment, monitors battery state and accordingly balances battery charging. Battery management system prolongs battery life, helps to prevent battery damage due to overcharging and voltage fluctuations and

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange recorded a 0.69 per cent appreciation on the back of bullish price movement from FrieslandCampina WAMCO Nigeria Plc on Wednesday, September 7. FrieslandCampina WAMCO Nigeria Plc, which has been the best-performing stock this month, closed the day as the single price mover with a growth of N3.50 to settle at N90.00 per share compared with the previous closing price of N86.50 per share. The appreciation in this stock raised the market capitalisation of the exchange by N6.83 billion to N997.41 billion from N990.58 billion. Following the same trend, the NASD Unlisted