Reps Seeks Completion of Okpai–Kwale Transmission Line Project

By Adedapo Adesanya The Chairman of the House of Representatives Committee on National Planning and Economic Affairs, Mr Isiaka Ibrahim, has said the National Bureau of Statistics (NBS) must be insulated from political interference to perform more effectively. Mr Ibrahim said this at a Public Lecture to mark the 2023 African Statistics Day celebration in Abuja on Wednesday themed Modernising Data Ecosystems to Accelerate the Implementation of the AfCFTA: The Role of Official Statistics and Big Data in the Economic Transformation and Sustainable Development of Africa. He said the reliability of data from the stats office would be questioned if

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 Adedapo Adesanya The Nigerian government has outlined its priorities for the upcoming 28th Conference of Parties (COP) in Dubai, the United Arab Emirates (UAE). Speaking to journalists at a pre-COP workshop organised by the National Council on Climate Change (NCCC), the Director General of the council, Mr Salisu Dahiru, said the country has a number of issues dear to its economy and journey towards climate resilience that it hopes to achieve at COP28. COP 28 is the United Nations Climate Change Conference taking place from November 30 to December 12. COP takes place every year and is the world’s

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 Modupe Gbadeyanka Commercial banks in Nigeria have been directed by the Central Bank of Nigeria (CBN) to file their foreign exchange returns in Dollar. This order was given on Thursday by the apex bank in a statement issued by its spokesman, Mr Isaac Okorafor. The CBN explained that this move became necessary following the insinuations in some quarters that the apex bank was involved in the sale of Dollar to customers. In the statement, the CBN maintained that it does not “deal directly with any bank customer on foreign exchange transactions, but stressed that such “transactions are consummated strictly

By Erhumu Bayagbon To be a great person, you must first be a good person; likewise, to be a great Company, you must first be a good company, Segun Ogunsanya, CEO, Airtel Africa While it is possible to procure and renew an operating licence, you can only earn a social licence. A social licence is love, loyalty, friendship, and affection that you get from the communities where you operate, as well as from your key stakeholders. Airtel as a telecommunications service provider is committed to its purpose of empowering and uplifting people and making a positive and lasting impact in

By Modupe Gbadeyanka Guinness Nigeria, manufacturers of Guinness Foreign Extra Stout and the nation’s leading total beverage company, has announced its results for the half year ended December 31, 2016. The results, which were released via a statement to the Nigerian Stock Exchange (NSE), show that the company grew its topline by 19 percent year-on-year. Mr Peter Ndegwa, Managing Director/CEO of Guinness Nigeria Plc, while commenting on the results, said there are many bright spots for the company but that the challenging economic environment and high finance charges impacted results. “We now have both International Premium Spirits (IPS) and locally

By Adedapo Adesanya Research and credit ratings firm, Agusto & Co. has identified strategies for more improvement in the country’s electric power production. In a research note shared with Business Post, the agency noted that Nigeria’s electric power consumption per capita of 145KwH falls behind those of select peers, South Africa (4,198) and Ghana (351KwH), as well as the average for lower middle-income countries of 811KwH. “Following the unbundling and subsequent privatization of the long-standing government-owned monopoly in the power sector, as part of the power sector reform of 2004, honest and objective evaluations of the Nigerian Electricity Supply Industry’s

The deal between Procter & Gamble (P&G) and the International Olympic Committee (IOC) has been extended until 2028. The 2020 edition of the games earlier slated for Tokyo, Japan next month was shifted to next year following the outbreak of COVID-19. In a statement some days ago, the parties said in a first-of-its-kind citizenship-driven partnership, actions would be taken to make progress in key areas like equality and inclusion, environmental sustainability and community impact. There would be the establishment of Athletes for Good Fund to grant support for athlete causes that are advancing important work against shared values. It is

Discussions around food and nutrition security took centre stage at the just concluded Senior Policy Seminar hosted by the African Economic Research Consortium (AERC), in partnership with the Central Bank of Nigeria (CBN). The two-day conference, which held from March 9 to 10, 2020 and was supported by the Bill and Melinda Gates Foundation, had the theme Agriculture and Food Policies for Better Nutrition Outcomes in Africa. Prof. Njunguna Ndung’u, the Executive Director of AERC, in his opening address, emphasised that the seminar focused on Agriculture, Food Security and Nutrition Outcomes in Africa because agriculture is the main stay of

By Modupe Gbadeyanka The Lagos Chamber of Commerce and Industry (LCCI) has blamed the low inflow of foreign direct investment (FDI) into Nigeria on wrong economic policies of the government despite the huge investment opportunities that abound. In a communiqué issued at the end of the second edition of the Lagos International Investment Conference in Lagos, the LCCI advised government to come up with policies that would give businesses the environment to flourish. The chamber said the Nigerian economy remains one of the most viable in Africa with diverse natural resources and a large market with a huge demographic advantage

By Dipo Olowookere An unnamed investor is considering putting a huge amount of money into Resort Savings and Loans Plc, but the options are being weighed by parties involved. At the meeting of the board of directors of the financial institution last Thursday, in Lagos, the offer brought by the new investor was looked into and discussed. Business Post gathered that from all indications, there is the possibility of allowing the new business person to join the company and perhaps have a say on the constitution of the board. At the moment, things are being done underground, with details of