Ondo Fishermen Want Special Focus on Marine Sector

By Bliss Okperan The Deputy Governor of Edo State, Mr Philip Shaibu, has announced his interest in the governorship election slated for 2024. Mr Shaibu, who fell out with former Governor Adams Oshiomhole to pitch his tenth with Governor Godwin Obaseki, declared his interest in the number one office of the state on Monday. In a televised announcement, the former student union leader said he intends to govern the state because of his desire to transform the Heartbeat of the Nation. According to him, his past records will make it easy for him to clinch the sole ticket of the

By Bliss Okperan The Minister of FCT, Mr Nyesom Wike, has been advised to extend an olive branch to the Governor of Rivers State, Mr Siminialayi Fubara. The Minister, who handed over the reins of Rivers State to Mr Fubara, has been at loggerheads with his successor. A few weeks ago, some lawmakers of the Rivers State House of Assembly loyal to Mr Wike attempted to impeach the Governor, but President Bola Tinubu quickly intervened and doused the tension. However, all is still not well with both parties, with the Minister granting an interview last week to accuse his ‘political

By Adedapo Adesanya The Socio-Economic Rights and Accountability Project (SERAP) has written to the World Bank to suspend issuing loans to Nigeria’s 36 states over allegations of mismanaging public funds which may include loans obtained from the institution. In the letter dated November 25, 2023, the group specifically wants the bank’s President, Mr Ajay Banga, “to promptly, transparently and effectively conduct an investigation into the spending of loans and other facilities by the country’s 36 state governors and to suspend any loans and funding if there is relevant admissible evidence of mismanagement or diversion of public funds by any of

By Kestér Kenn Klomegâh BRICS (Brazil, Russia, India, China and South Africa), a group of emerging market powers and one of the most popular organizations, seeks to approve African States into its fold and build on its existing economic and trade with other invited African leaders during the 15th summit in Johannesburg, South Africa. The BRICS members are meeting to deliberate on a broad range of important multiple issues, including new membership, common currency, various parameters of development and security and institutional architecture. More than 70 states are participating, including African leaders, while 23 States have submitted formal applications to

By Adedapo Adesanya Prices of crude oil prices fell on Friday as worries over the coronavirus plaguing the oil market resumed its effect on demand. At the market yesterday, the Brent crude fell 90 cents or 1.53 percent to $57.90 per barrel, while the US West Texas Intermediate (WTI) crude shed 45 cents or 0.84 percent to settle at $53.43 per barrel. The coronavirus had affected Nigerian cargoes, which did not sail for China in February and this left the country to depend on European demand, which is lower than what is receives from the Asian giant. This has forced

By Adedapo Adesanya The oil market tumbled more than 3 per cent on Tuesday as fear gripped the market following the cancellation of a meeting of producers as a result of disagreement to increase supply. Consequently, the Brent crude fell to $74.55 per barrel after dropping $2.63 or 3.4 per cent, while the United States West Texas Intermediate (WTI) crude lost $1.79 or 2.4 per cent to settle at $73.47 per barrel. On Monday, ministers from member states of the Organization of the Petroleum Exporting Countries and allies (OPEC+) abandoned talks after negotiations failed to close divisions between Saudi Arabia,

By Dipo Olowookere A loan product to enable schools to meet their short-term financial requirements has been introduced by Stanbic IBTC Bank Plc. A statement from the company, which is a subsidiary of Stanbic IBTC Holdings Plc, explained that the new product is for private primary, secondary and tertiary institutions. The lender emphasised that credit facility is available to privately owned schools for the establishment, expansion or upgrade of primary and specialised facilities. It can also be used for short term working capital requirements. “The school loan product is designed to support institutions which have been in operation for at

By Dipo Olowookere Construction giant, Julius Berger Nigeria Plc has partnered with the Kogi State government for the construction of 10 key roads across the three Senatorial districts of the state for infrastructure development of the Confluence State. This information was revealed on Monday by the state’s Commissioner for Works, Mr Abdulmumuni Sadiq, while addressing newsmen in Lokoja at the end of a Reconnaissance Survey of the roads by a team of government officials. The team also include officials from Julius Berger on Monday in Lokoja. Mr Sadiq said that invitation and visit of the construction company was part of

By Dipo Olowookere The Chief Executive Officer of Stanbic IBTC Holdings Plc, Mr Yinka Sanni, has described the performance of the company in the 2019 financial year as impressive. Last week, the company released its audited financial statements for the year ended December 31, 2019 and the firm, a member of Standard Bank Group, declared a profit after tax of N75 billion, representing an increase over its year end 2018 profit after tax of N74.4 billion. Also, profit before tax for the year ended December 31, 2019 was N90.9 billion, representing a 3 percent increase over 2018 figures which stood

By Adedapo Adesanya The European Union (EU) is seeking to strengthen its partnership with Nigeria through the Nigerian National Petroleum Company (NNPC) limited to reduce its dependency on Russia for energy. Russia provides the continent with about 40 per cent of its energy needs and due to its invasion of Ukraine on February 24, sanctions on the country, members of the EU are divided over whether to get oil from Russia or not. On Monday, ambassadors from the bloc paid a courtesy call on the management of the NNPC in Abuja and the issue of energy supply was discussed, according

By Modupe Gbadeyanka For the second time since President Muhammadu Buhari assumed office on May 29, 2015, the country foreign reserves have hit the $30 billion mark. The last time the reserves crossed the $30 billion mark was in July 2015, and went as high as $31.63 billion in August of the same year before it began to decline. According to latest data from the Central Bank of Nigeria (CBN, the reserves closed the trading week above $30 billion. It has been observed keenly that since January 5, 2017, the reserves have experienced a steady day-on-day increase of between 2.30