Nigeria to Benefit from FAO-GEF $18m Conservation Fund

By Adedapo Adesanya President Bola Tinubu on Monday asked South African companies to consider investing in the Nigerian solid minerals development sector, promising them a conducive environment. Mr Tinubu made this call when he held talks with his South African counterpart, Mr Cyril Ramaphosa, in New York City ahead of the United Nations General Assembly (UNGA). According to a statement by the Special Adviser to the President on Media and Publicity, Mr Ajuri Ngelale, the Nigerian leader advanced his economic development diplomatic drive for investment attraction during the engagement. He told Mr Ramaphosa that, “South African mining industries have a

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 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 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 Dipo Olowookere Small business owners and artisans living in Nigeria, especially those who are consumers of Nigerian Breweries Plc, have been urged to submit their business plans to enable them to get funding support from the company. The leading brewery firm is providing at least N200,000 to each of the successful entry for its Goldberg Isedowo and Life Progress Booster initiatives. Nigerian Breweries, brewers of Life Continental Lager and Goldberg Lager Beer, provided these platforms to empower small business owners and artisans in the country. Business Post reports that Nigerian Breweries, through these initiatives, has impacted nearly 1,000 businesses

By Dipo Olowookere I have read several times about some Nigerians lamenting being scammed by fraudsters who claim they can go into recharge business by selling in bulk with as low as N10,000. Each time I read or hear about victims crying about being scammed, I say to myself that they fell for it because they were ignorant and failed to do at least a bit of research before parting away with their hard-earned money. The purpose of this article is to educate you on some basics of the recharge card business so that no one can fool you next

By Dipo Olowookere Shareholders of the Union Bank of Nigeria (UBN) have been assured of more value for their investment in the financial institution. This assurance was given by the outgoing Managing Director of Union Bank, Mr Emeka Emuwa. The banker will cease to head the lender from Thursday, April 1, 2021. A few days ago, the bank released its audited financial statements for the year ended December 31, 2020, and in the period, it recorded sustained growth in key income lines and significantly improved fundamentals despite the constrained operating environment largely due to the impact of the COVID-19 pandemic.

By Modupe Gbadeyanka The House of Representatives has kicked against an alleged plan to install an interim government in Nigeria, urging security agencies, particularly the Department of State Services (DSS), to be on alert and forestall any plans to cause chaos or mayhem in the country. At the plenary on Tuesday, the lower chamber of the National Assembly said those against the inauguration of a democratically-elected government on May 29, 2023, should have a rethink. Debating a motion of urgent national importance in Abuja today, the lawmakers appealed to parties not satisfied with the outcomes of the 2023 general elections

By Modupe Gbadeyanka The Nigerian Stock Exchange (NSE) closed in the green zone on Wednesday after it went down on Tuesday due to profit taking. At the close of the mid-week trading, the equity market marginally rose by 0.02 percent to leave the year-to-date return at 36.22 percent. Business Post reports that the All-Share Index (ASI) slightly increased by 8.69 points to settle at 36,608.76 points, while the market capitalisation appreciated by N7.3 billion to finish at N12.75 trillion. It was observed that the volume and value of shares transacted by investors today increased broadly as a total of 331.3

By Modupe Gbadeyanka Over 100,000 plastic bottles have been taken away from Lagos shorelines by Rite Foods Limited through its sponsored riteonthebeach initiative aimed at cleaning the country’s beaches. Launched in August 2021 by Rite Foods’ Managing Director, Mr Seleem Adegunwa, the Corporate Social Responsibility (CSR) project went live in the Lagos beach communities in January 2022 with a success story. This campaign by the market leader in Nigeria’s food and beverage industry is geared towards promoting environmental conservation. To date, the communities have removed over 100,000 bottles from their beaches, with school children taking the responsibility of dropping off

By Modupe Gbadeyanka Mr Ibrahim Adejuwon Odumboni has been chosen to become the next Managing Director/Chief Executive Officer of the Lagos Waste Management Authority (LAWMA). His appointment, which takes immediate effect, was consequent upon the resignation of the erstwhile MD/CEO of LAWMA, Mr Muyiwa Gbadegesin, from August 19, 2020, for personal reasons. Before his new appointment, he was the Executive Director in charge of Business Development at in LAWMA, in which capacity he had been deeply involved in the rebirth of the waste management conglomerate. According to the Head of Service, Mr Hakeem Muri-Okunola, who confirmed this development in a

By Adedapo Adesanya The Corporate Affairs Commission (CAC) has disclosed that it exceeded its revenue target for 2020 by 4.4 per cent as it raked in N19 billion as Internally Generated Revenue (IGR) in the period under review. This was disclosed by the CAC Registrar-General, Mr Garba Abubakar, on Wednesday. According to him, in spite of the COVID-19 pandemic that affected economic activities, the commission recorded an increase in the registration of businesses and other corporate entities during the year. “The year 2020 was one of our best years in terms of revenue generation as we recorded a surge in