Stakeholders Appeal Ban on SIM Cards to Nigerians Below 18

By Adedapo Adesanya The Norwegian Floating Production Storage and Offloading (FPSO) leasing firm, BW Offshore, has closed the transaction for the sale of the Nigerian vessel, Abo FPSO, after several short-term charter extensions for $20 million. FPSO refers to a floating vessel located near an offshore oil field, where oil is processed and stored until it can be transferred to a tanker for transporting and additional refining. BW Offshore closed the transaction for the sale of Abo FPSO to STAC Marine Offshore Limited, a member of the Nigerian Transport Group (STAC). As part of the transaction, BW Offshore has entered

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 Precious Olisa The Zamfara State Election Petition Tribunal sitting in Sokoto State has upheld the election of Mr Dauda Lawal as the governor of the state. Mr Lawal emerged victorious in the election after contesting to govern the state on March 18, 2023, under the platform of the Peoples Democratic Party (PDP). He defeated the immediate past Governor of the state and current Minister of State for Defence, Mr Bello Matawalle, with an impressive margin of 65,750 votes. The returning officer for the poll had announced that Mr Matawalle, the candidate of the All-Progressives Congress (APC), secured a total

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 Investors Hub The major U.S. index futures are pointing to a mixed opening on Thursday, as the Dow futures are up by 58 points but the Nasdaq futures are down by 53 points. A notable decline by Facebook (FB) is likely to weigh on the Nasdaq after the social media giant reported better than expected second quarter earnings but weaker than expected revenues. Stocks showed a strong move to the upside during trading on Wednesday, as traders reacted positively to a report about President Donald Trump securing concessions from Europe. The major averages climbed to new highs for the

By Adedapo Adesanya  The National Association of Online Security Reporters (NAOSRE) has elected Mr Femi Oyewale as its new President. Mr Oyewale is the publisher and Editor-in-Chief of Sahara Weekly and Sahara TV and with his appointment yesterday, he will preside over the association’s affairs for the next two years. In his acceptance speech, the new president thanked the electoral body, NAOSREC, for conducting a hitch-free election. He also thanked the former executives led by Mrs Favour Benson, the board of trustees and members for the unprecedented confidence reposed in him through their votes, promising not to disappoint. In reference

By Aduragbemi Omiyale Professor Michael Obadan and six others have been confirmed as members of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN). Prof Obadan, an existing member of the committee, was nominated with the others by President Muhammadu Buhari and on Wednesday, the Senate approved their nominations. The others confirmed were Professor Mohammed Adaya Salisu, Dr Mo’Omamegbe (new members), Professor Festus Adeola Adenikinju, Professor Aliyu Sanusi Rafindadi, Dr Robert Asogwa and Mr Aliyu Ahmed (old members). At the plenary today, the Chairman of the Senate Committee on Banking, Insurance and Other Financial Institutions, Mr Uba

By Adedapo Adesanya The NASD Unlisted Securities (NSI) closed last week with a negative return as the bourse fell by 0.25 percent to close the week at 703.01 points against 704.76 points. This happened as investors lost N1.28 billion in value as market capitalization closed at N516.41 billion compared to N517.69 billion in the preceding Friday. There was also a 16.9 percent decrease in the total value traded during the week as a total of N26.5 million were transacted by NASD investors compared to N31.9 million in the previous week. In the same pattern, the volume of the securities traded during the

By Dipo Olowookere The Nigerian Exchange (NGX) Limited further appreciated by 0.05 per cent on Tuesday on the back of a sustained buying pressure, though it is gradually waning. Yesterday, the number of price gainers reduced to 28 from 43 a day earlier, while the price losers rose to 23 compared with the preceding trading day’s 16. From the analysis, Academy Press was the biggest price riser as it went up by 10.00 per cent to N1.21, Champion Breweries appreciated by 9.78 per cent to N2.47, Meyer gained 9.77 per cent to sell for N2.81, Neimeth improved by 9.56 per

By Ashemiriogwa Emmanuel The Nigerian Communication Commission (NCC) has said that soon, people without National Identity Number (NIN) will be denied necessary services that play vital roles in their lives, including the acquisition of a driver’s licence and international passport. The agency urged telecommunication consumers to obtained the NIN and integrate it with their subscriber identity modules (SIMs) before the expiration of the deadline on October 31, 2021, in order to prevent service disruption. The Director of Public Affairs, NCC, Mr Ikechukwu Adinde, disclosed this while speaking at the commission’s Digital Signature radio programme, which transmitted the second episode of

By Adedapo Adesanya The President of the African Development Bank, Mr Akinwumi Adesina, has praised the affirmation of the regional bank’s AAA credit rating, with a stable outlook by Moody’s Investor Service. Moody’s Investor Service in an annual credit analysis dated October 27, 2020, said “the credit profile of African Development Bank (AfDB) is supported by the bank’s robust capital buffers and superior risk management, which mitigate risks.” “An ample liquidity buffer and unfettered access to international capital markets also support its ability to meet its debt-service obligations. “Moreover, the bank has a long track record of being the premier

By Nneka Okumazie The poverty situation in Nigeria is an emergency. The lives of many are a difficult and distressing experience. The country is supposed to come at poverty with all kinds of programs, solutions, tests, products, etc. But poverty seems to be a spectacle and hardship is cinematic. Many have understood that government does next to nothing, so they aim their crossfire at the church of God. They want the church to help the poor, build schools, hospitals, etc. But these are the wrong ideas of how to eradicate poverty, or what the church should do. Poverty is mainly