No Justification to Sell Petrol Above N100 in Nigeria—PDP

By Adedapo Adesanya Fils has launched a platform to help global businesses turn intent into action when integrating sustainable values into the core of digital payments. The new innovation paves the way for trust and safety in carbon markets, bringing together buyers with capital, and suppliers with high-integrity carbon credits, at the rate and scale required to rebalance the planet.  Designed as a holistic, enterprise-grade B2B2C product offering, Fils leverages the power of leading technologies for its end-to-end infrastructure to transform various industries, including financial services, hospitality, and e-commerce. This makes it easier for businesses to act on the core

By Bliss Okperan The Commissioner for Physical Planning and Urban Development in Lagos State, Mr Oluyinka Olumide, has debunked claims that the ongoing demolition of illegal buildings in the metropolis was targeted at the South-Easterners by Governor Babajide Sanwo-Olu administration. It was alleged that the state government was pulling down structures belonging to residents of the state from the Igbo extraction because of their protest votes in the 2023 governorship election. Speaking as a guest on Wednesday on Channels Television’s flagship breakfast programme, Sunrise Daily, Mr Olumide disclosed that, “Those buildings causing uproar are buildings rushed during the COVID period

By Adedapo Adesanya  The Kwara State Government has announced the signing of a Memorandum of Understanding (MoU) with IHS Nigeria for the development of a technology innovation facility in the state. In a statement released by the government’s spokesperson, Mr Rafiu Ajakaye, it was said that Mr AbdulRahman AbdulRazaq, the governor of the state, signed the MoU alongside IHS Nigeria CEO, Mr Mohamad Darwish, at a brief ceremony attended by several officials in Ilorin, Kwara State on Saturday, November 18, 2023. The project tagged Ilorin Innovation Hub is part of the state government’s efforts to stimulate and deepen the alignment

By Modupe Gbadeyanka An initiative aimed to promote the diversity of the African continent and showcase its rich cultural heritage to the rest of the world has been launched by YouTube. The social campaign, The Voices of Africa, will be used to celebrate the continent’s unique and traditional expressions through a select group of African creators. They will create and share videos on their YouTube Channels of their unique cultural heritage stories about their local traditions and practices, conversations with friends and family, and with people in their local communities. Some of the creators who are part of the campaign

By Dipo Olowookere Governor Aminu Waziri Tambuwal has lost his bid to stop an action on his nomination at the Supreme Court. On Friday, the apex court dismissed his suit challenging the propriety of his nomination for the 2015 governorship election by the All Progressive Congress (APC) and ordered a Federal High Court in Abuja should retry the case on its merit and make decision as demanded by law. The Supreme Court held that the nomination of Tambuwal by his party should be challenged by another governorship aspirant, Senator Umaru Dahiru on the ground that he has sufficient justifiable cause.

By Dipo Olowookere A memorandum of understanding (MoU) has been signed between Benez Music International and A Thousand Miles Audiovisual. The partnership is to establish a working relationship that would benefit the Nigeria music industry as a whole. According to information gathered by Business Post, the MoU will see A Thousand Miles Audiovisual, headed by Mr John Sunday, handle the production of Benez Music International’s lead artiste, Mr Lawrence Uwaifo’s music video in the next 12 months. It was further gathered that both parties agreed to open a collaborative partnership with a view to supporting the common objective of serving

By Dipo Olowookere Not less than 577 companies have submitted bids to secure the insurance renewal contract for oil and non-oil assets of the Nigerian National Petroleum Corporation (NNPC). This information was made known on Tuesday at the public opening bids measure aimed at providing a level playing field for all bidding firms. The breakdown of bidders shows that 245 brokers tendered for oil assets, 251 brokers tendered for non-oil assets while 37 insurance companies tendered for oil assets and 44 tendered for non-oil assets. Speaking at the event, NNPC Group General Manager, Risk Management and Insurance, Mr Modupe Bameke,

By Modupe Gbadeyanka A total of $3.7 billion was secured in the last three years in Alternative Financing Agreement by the Nigerian National Petroleum Corporation (NNPC). Group Managing Director of the NNPC, Dr Maikanti Baru, made this disclosure at the 35th Annual Conference of the Nigerian Association of Petroleum Explorationists (NAPE) in Lagos yesterday. Mr Baru noted that securing external funding arrangement was crucial to sustaining oil and gas production in Nigeria and ensuring the survival of Nigeria’s energy future. “Within the last three years, we have embarked on several successful Alternative Funding Programmes to sustain and increase the national

By Adedapo Adesanya Oil prices rose 2 per cent on Wednesday after a large unexpected drawdown in crude inventories in the United States, the world’s largest oil producer. Brent crude futures increased by $1.52 or 2 per cent to $78.36 a barrel, as the US West Texas Intermediate crude (WTI) gained $1.43 or 2 per cent to settle at $74.34 per barrel. US crude inventories posted a massive surprise weekly drawdown of 12.5 million barrels to 455.2 million barrels, the Energy Information Administration (EIA) said, as imports declined. A day earlier, the American Petroleum Institute (API) had estimated that crude

By Modupe Gbadeyanka The National Bureau of Statistics (NBS) on Friday released the inflation figures of Nigeria for the month of January 2019. According to the stats office, the consumer price index (CPI), which measures inflation, moderated by 0.07 percent to 11.37 percent year-on-year in January 2019 from the 11.44 percent recorded in December 2018. The drop in the inflation rate for the period under review was on the back of the ease in the composite food index, which stood at 13.51 percent in contrast to 13.56 percent in December 2018. In its report today, the NBS said on month-on-month

By Dipo Olowookere Nigerian stocks could not maintain the positive trajectory recorded on Wednesday at the Nigerian Exchange (NGX) on Thursday as they depreciated by 0.17 per cent. The loss was a result of the overriding activities of profit-takers, who thought it was necessary to offload some equities to cash out after making gains in the past few days. As a result, the All-Share Index (ASI) sank by 64.26 points to 38,571.89 points from 38,636.15 points, while the market capitalisation decreased by N34 billion to N20.185 trillion from N20.219 trillion. Business Post reports that yesterday, the insurance sector lost 2.75

By Modupe Gbadeyanka Speaker of the Edo State House of Assembly, Mr Frank Abumere Okiye, has been impeached by members of the state parliament. Mr Okiye’s removal comes barely two weeks after he led his colleagues to pay a visit to Governor of Edo State, Mr Godwin Obaseki, shortly after he won the governorship election for another term of four years in office. According to reports from Benin City, the state capital, Mr Okiye was booted out of office by nine members of 10 members of the House of Assembly. At the plenary on Monday morning, Mr Okiye was accused