Rivers APC Warns National Assembly to Perish Impeachment Threat on Buhari

By Modupe Gbadeyanka The 12-year-old boy with missing intestines, Adebola Akin-Bright, who has been receiving treatment at the Lagos State University Teaching Hospital (LASUTH), Ikeja, has died. Adebola died on Tuesday evening, according to reports. He was to be flown abroad for an intestine transplant to get him back to normal before he breathed his last today. Adebola had surgery at a private hospital in the Alimosho area of the state known as Obitoks Medical Centre, but it was later discovered that his intestines were missing. The Lagos State House of Assembly had on Tuesday asked Governor Babajide Sanwo-Olu to

By Modupe Gbadeyanka A socio-political group known as Save Enugu Group has congratulated Governor Peter Mbah of Enugu State on his recent Supreme Court victory. The organisation described the victory as well-deserved, urging politicians in the state to join forces with the governor to move the state forward. Last Friday, the country’s apex court dismissed an appeal filed by the candidate of the All Progressives Congress (APC) in the governorship election in the state, Mr Uche Nnaji. The opposition party challenged the victory of Mr Mbah of the Peoples Democratic Party (PDP) in the March 18, 2023, gubernatorial poll, asking

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 Adedapo Adesanya **National Assembly Passes 2022 Finance Bill, FIRS Gets New Name Wednesday’s plenary was filled with activities in the National Assembly in Abuja as the House of Representatives passed the 2023 appropriation bill at N21.83 trillion, just as the Senate has passed the 2022 supplementary budget of N819.5 billion. This showed an increase of N1.32 trillion from the N20.51 trillion budget proposal of President Muhammadu Buhari. Prior to this, the 2023 budget is already the highest in the nation’s history. A breakdown of the budget indicates an allocation of N967.5 billion for statutory transfers, N6.6 trillion for debt

By Dipo Olowookere Shares of Oando Plc depreciated at the stock exchange on Friday, a day after a tank farm operated by one of its subsidiaries in Lagos was razed by fire. Business Post had reported on Thursday that the tank farm located in the Ijora Badia area of Lagos State and operated by OVH Energy, an arm of Oando, was gutted by fire. When the unfortunate incident happened, officials of the Lagos State Emergency Management Agency (LASEMA), the Federal Fire Service, the Lagos State Fire Service, the Nigerian Navy Fire, Nigerian Police and Forte Oil Fire Service rushed to

By Modupe Gbadeyanka A West African provider of hybrid solar power solutions to commercial and industrial (C&I) businesses, Daystar Power, has announced the conclusion of its acquisition by Shell. In a statement on Friday, the company said the deal was completed after securing approvals from the various regulatory agencies involved in the transaction. Daystar Power explained that this takeover by Shell would strengthen its operational growth in the region while expanding across the African continent. “We are thrilled about the completion of this major milestone,” said Jasper Graf von Hardenberg, CEO and co-founder of Daystar Power. “Given the urgency of

By Modupe Gbadeyanka Managing Director/CEO of Heritage Bank Plc, Mr Ifie Sekibo, has disclosed that the financial institution will begin to provide financing for building critical maritime infrastructures and other aspects of transport sector projects once policies driving the projects are well structured. This is expected to boost the sector, which has been neglected by stakeholders despite its potentials of being a key source of revenue for the nation. Mr Sekibo, who was one of the panellists at the day-one of the International Association of Ports and Harbours (IAPH) Africa regional conference, themed, ‘African Ports & Hinterland Connectivity’ in Abuja,

By Dipo Olowookere The equities market ended on a positive note on Wednesday despite the negative investor sentiment witnessed at the close of business, which left the local bourse finishing with 17 price losers and 16 price gainers. It was observed that the bargain hunting by investors extended the rally recorded on the floor of the Nigerian Stock Exchange (NSE). By the time market wrapped up for the day, the nation’s stock exchange closed 0.73 percent, a situation slightly helped by the positive Q1 2019 results released by GTBank and Zenith Bank on Wednesday and Access Bank on Tuesday. Business

By Dipo Olowookere Dubai-based flydubai on Sunday commenced flight operations to the N’djili Airport (Kinshasa International Airport – FIH) and will operate daily flights to N’djili Airport with an enroute stop in Entebbe. On the inaugural flight to the airport was a delegation led by Sudhir Sreedharan, Senior Vice President, Commercial Operations (UAE, GCC, Indian Subcontinent & Africa) for flydubai. The delegation was met on arrival by Mr Tshiumba Pmunga Jean, Director General, Civil Aviation Authority, Mr Kufula Makila Rex, Cabinet Director, Minister of Transport and Mr Bilenge Abdala – General Director RVA- (Régie des Voies Aériennes). The planed arrived

By Modupe Gbadeyanka Thirty-five of the 36 states of the federation have received a total of N66.5 billion ($175 million) from the federal government, with $5 million given to each of them. A statement signed by the Director of Press and Public Relations at the Ministry of Finance, Mr Hassan Dodo, disclosed that the money was disbursed to the states on the basis of the amended COVID-19 Responsive 2020 Budget results achievement. The disbursement is, according to her, under the performance-based grant component of the World Bank-Assisted States Fiscal Transparency, Accountability and Sustainability (SFTAS) Programme-for-Results. Only Rivers State missed out

By Adedapo Adesanya Prices of the major crude oil benchmarks were mixed at the market on Wednesday despite crude inventories in the United States dropping for the fifth straight week. The Brent crude futures fell 21 cents or 0.46 per cent to trade at $45.65 per barrel, while the US West Texas Intermediate (WTI) crude futures gained 5 cents or 0.12 per cent to sell for $43.40 per barrel. The market had performed well at the onset as both benchmarks settled at a five-month high on Tuesday. It was looking to extend this as data showed that oil stockpiles in