Lagos Gives Bonded Terminal Owners, Trailers in Ajegunle 21 Days to Leave

By Dipo Olowookere President Bola Tinubu has arrived at the National Assembly to present the 2024 Appropriation Bill to the federal lawmakers. The President got to the parliament at about a few minutes past 11 am on Wednesday, November 29, 2023, and was accompanied by the Vice President, Mr Kashim Shettima; his Chief of Staff, Mr Femi Gbajabiamila; the National Chairman of the ruling All Progressives Congress (APC), Mr Abdullahi Gandoje; and the Secretary to the Government of the Federation (SGF), Mr George Akume; among others. He is expected to present the 2024 budget of N27.5 trillion to a joint

By Adedapo Adesanya The federal government has announced that only 422 of the total 1,411 Nigerian delegates at the ongoing COP28 were funded with taxpayers’ money. This clarification followed the outrage over the size of Nigeria at the conference in Dubai, the United Arab Emirates (UAE). The Minister of Information, Mr Mohammed Idris, disclosed this in a statement on Monday evening amidst concerns by Nigerians about the large number of the country’s delegates at the climate change conference in Dubai. Business Post had reported that Nigeria was joint third with China behind the UAE and Brazil among all the countries

By Aduragbemi Omiyale The Oyo State government has maintained that its decision to register all commercial motorcycle and tricycle riders in the state was to promote public safety and not for any other purpose. The Commissioner for Information and Civic Orientation, Mr Dotun Oyelade, said this during a one-day sensitisation meeting with Okada and Keke riders in Ibadan. He explained that the meeting became necessary following a recent state security council meeting, noting that the exercise will help in the documentation of riders in the state. The Commissioner called for sustained cooperation between motorcycle and tricycle riders and the state

By Adedapo Adesanya The President of the African Export-Import Bank (Afreximbank), Professor Benedict Oramah, has been recognised with the Forbes Africa magazine 2023 Person of The Year award. At a well-attended award ceremony in Cairo, which also included the unveiling of the cover for Forbes Africa’s December 2023/January 2024 edition featuring Mr Oramah as cover personality, Mr Rakesh Wahi, Forbes Africa Founder and Publisher, and Ms Roberta Naicker, Managing Director, said that the award recognised the stellar accomplishments of leading Africans contributing to the development of the continent. “With a career spanning three decades at Afreximbank, Prof. Benedict Oramah is

By Adedapo Adesanya The cost of hiring and keeping employees inhouse goes way beyond salaries. Cost of pension payments, sick leaves, insurance, and training, all add to the expenses that businesses incur to make a profit. But even with all these investments, there is no guarantee that the venture will see an increase in return. With the onset of the coronavirus pandemic, it has even become more costly to keep employees inhouse as there is a limit to how certain business activities can go on. And this creates a situation where there just aren’t enough resources to cater to all

By Aduragbemi Omiyale The Nigerian Exchange (NGX) Limited and the Chartered Institute of Stockbrokers (CIS) have agreed to engage the incoming administration on policies that will reposition the capital market for growth. The chief executive of the NGX, Mr Temi Popoola, said this when he was inducted by the institute as a fellow on Monday, May 8, 2023. Barring any unforeseen circumstances, Mr Bola Tinubu will be sworn in as the president of Nigeria on Monday, May 29, 2023. He was declared the winner of the presidential election held on Saturday, February 25, 2023, by the Independent National Electoral Commission

By Dipo Olowookere The 2016 maiden annual report of the Consumer Protection Council (CPC) has now been released in Lagos. The report highlights the council’s most significant achievement and interventions for 2016. Unveiling the report at an event jointly organised by CPC and the United Nations Industrial Development Organization (UNIDO) for business editors and reporters, Director General of the Council, Mrs Dupe Atoki, noted that consumer education received great attention in 2016. At the capacity building training for the journalists, Mrs Atoki promised that the council will continue to impact consumers through weekly television and radio programmes. She also said

By Adedapo Adesanya  Nigeria’s anti-crude theft troop, Operation Delta Safe, has destroyed 50 illegal oil refining sites in the Niger Delta region and arrested 51 suspects in the last week. The Director of Defence Media Operations, Maj.-Gen. Edward Buba, who made this known on Thursday in Abuja while briefing newsmen on the operations of the military, said the troops also eliminated four criminals and recovered arms and ammunition. He added that a total of 578,900 litres of stolen crude oil, 454,330 litres of illegally refined Automotive Gas Oil and 10,000 litres of dual-purpose kerosene (DPK) were recovered during the operations.

Some aggrieved youths in Port Harcourt in Rivers State on Friday staged a peaceful demonstration at the premises of the Niger Delta Development Commission (NDDC) to kick against plans to extend the tenure of the agency’s board. During the protest, youths carried placards, dancing and singing solidarity songs. They said it was wrong for the CEO of NDDC, Mr Nsima Udo Ekere, who doubles as the governorship candidate of the All Progressives Congress (APC) in Akwa Ibom State, to transfer power to the Executive Director, Finance and Administration, Mr Mene Derek. Addressing reporters during the protest organized by a coalition

By Adedapo Adesanya Brent crude traded at $76.85 per barrel on Thursday after rising by $1.56 or 2.1 per cent on signs that the worst effects of the Omicron variant might be more containable than previously feared, even as countries imposed travel restrictions on surging infection levels. Also, the United States West Texas Intermediate (WTI) crude appreciated by $1.03 or 1.4 per cent during the session to settle at $73.79 per barrel. The oil market has wavered in recent days over how seriously to take the threat of another slump in fuel demand largely influenced by the latest discovered COVID-19

By Investors Hub European stocks have moved modestly lower on Monday as a weaker dollar offset investor optimism over easing trade tensions between the U.S. and China as well as signs of political stability in Italy. While the German DAX Index has fallen by 0.4 percent, the French CAC 40 Index and the U.K.?s FTSE 100 Index are both down by 0.2 percent. The euro has edged higher for a third consecutive session after European Central Bank policy maker Francois Villeroy de Galhau said the end of net asset purchases by ECB is approaching and that whether it will be

By Adedapo Adesanya The NASD Over-the-Counter (OTC) returned to the bullish zone for the first time in three sessions on Wednesday, recording a 1.27 per cent appreciation as a result of the lifting by Central Securities Clearing Systems (CSCS) Plc. The Nigerian depository company closed the day as the single price gainer, growing by N1.62 or 8.1 per cent to N20.00 per unit compared with the previous closing price of N18.38 per unit. This raised the market capitalisation of the NASD OTC Exchange by N7.93 billion to wrap the session at N630.15 billion compared with N622.22 billion of the preceding