IPMAN Backs Appointment of Cordier by NNPC

By Adedapo Adesanya The President of Nigeria, Mr Bola Tinubu, has promised relief amid reforms that have increased hardships among Nigerians in his first Independence Day broadcast on Sunday. Nigeria is marking her 63rd Independence anniversary. Speaking during a brief broadcast, President Tinubu said his reforms, including fuel subsidy removal and unification of exchange rates, have come with some effects, which he admitted were painful but are needed. He announced that small businesses would get much support while an additional N25,000 would be given to low-income earners for six months to cushion the hardship. Mr also promised housecleaning at the

By Adedapo Adesanya The Nigeria Labour Congress (NLC) is set to embark on its planned strike as it said it does not have any agreement with the federal government to shelve the action. This came from its Head of Information and Public Affairs, Mr Benson Upah, who countered a statement by the Ministry of Labour and Employment. Mr Upah also said the NLC did not have any date for a meeting with the government that may lead to the suspension of the proposed strike. “We do not have any agreement with the government to suspend the planned strike action. Neither

By Aduragbemi Omiyale The Vice President, Mr Kashim Shettima, has charged the National Assembly to continue to cooperate with the executive arm of government, noting that governance is a collective responsibility and not a personal endeavour. He said this at the retreat for the leadership of the 10th National Assembly last Friday at the Four Points by Sheraton, Ikot Ekpene, Akwa Ibom State. Mr Shettima said the administration of President Ahmed Tinubu was committed to safeguarding Nigeria’s democracy and maintaining the fraternal bond between the two arms of government. He described the composition of the federal government as well as

By Dipo Olowookere Governor Mohammed Abubakar of Bauchi State has approved the provision of uniforms to 5,238 NIBSSS-validated cooks in the state. His Special Assistant on NGOs and SIPs, Mansur Manu Soro, made this disclosure at a one-day stakeholder sensitization workshop conducted-for cooks in Bauchi LGA. According to him, “In accordance with the provisions of implementation manual, Governor Mohammed Abubakar has approved the provision of 8 yards material for uniform and apron to all cooks of Bauchi State for free.” He explained that, “The central objective of the sensitization is mobilize the relevant stakeholders to take ownership of the programme

By Modupe Gbadeyanka It is more trouble for renowned global auditing firm, KPMG, over its involvement in the Gupta mess in South Africa. Since its involvement in the scandal, the company has been under fire with some firms dropping KPMG as their auditors. The latest to have towed this line is South African miner, African Rainbow Minerals (ARM), which has fired the auditing firm as its auditor on Monday. ARM is a South African diversified mining and minerals company that mines and beneficiates iron ore, manganese ore, chrome ore, platinum group metals (PGMs), copper, nickel and coal. The firm, owned

By Dipo Olowookere The Lagos State government has declared that entertainers and entrepreneurs in the entertainment industry do not need to pay 5 per cent levy on audio and visual contents of all physical and digital platforms in the state. The Commissioner for Information and Strategy, Mr Gbenga Omotoso, in a statement on Friday, said the state government had no hands in the earlier announcement made by the Executive Secretary of the Lagos State Film and Video Censors Board (LSFVCB), Mr Bamidele Balogun, who imposed the tax. In the statement, the Commissioner dissociated the state government from the policy, stressing

By Modupe Gbadeyanka A bill to regulate payment mode for rents in the Federal Capital Territory (FCT) Abuja on Tuesday scaled the second reading at the Senate. The upper chamber of the National Assembly wants to make it illegal for property owners to collect annual rents from tenants but on a monthly basis. The sponsor of the bill tagged A Bill for the Regulation of Advanced Rent on Residential Apartments, Office Space, Mr Smart Adeyemi, argued that it would make life less stressful for residents of the city. He explained that the bill seeks to regulate the mode of payment

By Adedapo Adesanya Lagos State has the highest rent index among selected cities in Africa, a new index from Numbeo seen by Business Post shows. In its Africa: Cost of Living Index by City 2023 rankings, Lagos scored 56.0 points, higher than other advanced cities on the continent like Dakar in Senegal (22.2 points), Abidjan in Cote D’Ivoire (17.0 points), Accra in Ghana (15.7 points), as well as South African cities of Cape Town (20.4 points), Pretoria (12.4), and Johannesburg (13.7) among others. Rent has been an issue for many Nigerians who pay as low as N300,000 per annum for

By Adedapo Adesanya  The Naira closed the midweek session on a positive note by appreciating by 0.16 per cent or 67 kobo against the US Dollar at the Investors and Exporters (I&E) window of the foreign exchange market. At the trading session, it closed at N410/$1 compared with N410.67/$1 it was transacted on Tuesday and this was buoyed by the ability of FX traders to meet the demands of their customers. At the market on Wednesday, the Naira witnessed a decline in pressure as there was only $40.13 million worth of transactions in contrast to the $99.49 million recorded at

By Cowry Asset In the just concluded week, FGN bond prices traded at the over-the-counter (OTC) segment appreciated for most of the maturities tracked amid bargain hunting activity. The 10-year 16.39 percent FGN JAN 2022 debt, the 7-year 16.00 percent FGN JUN 2019 debt and the 5-year, 14.50 percent FGN JUL 2021 debt appreciated in value by N0.01, N0.02 and N0.17 respectively; their corresponding yields fell to 13.09 percent (from 13.10 percent), 13.83 percent (from 13.87 percent) and 13.32 percent (from 13.39 percent). However, the 20-year, 10 percent FGN JULY 2030 debt depreciated in value by N0.10; its corresponding yield

By Kester Kenn Klomegah CHETRA is a Russian company that sells industrial equipment and spare parts under the brand CHETRA produced by the Promtractor plant, as well as supplies spare parts and components from the company. It uses a unique technique in the construction of production sites, seaports, development of natural resources and pipelines in 30 countries and in all climatic zones. The goal is to provide its partners and customers with modern high-performance equipment for successful projects, even in areas with complex climatic and geological backgrounds. More than 3,000 units of equipment under the brand CHETRA are now in