UN Habitat Visits Abia First Lady

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 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 Adedapo Adesanya Tata International is set to expand operations in Nigeria through a strategic partnership with the Lagos Free Zone (LFZ) following the signing of a fresh arrangement. The agreement was signed in the presence of the Managing Director of Tata International Limited, Mr Anand Sen, by the Managing Director of Tata Africa Holdings Pty Ltd, Mr Len Brand. This move will help Tata International build on its existing relationship in the country since 2006 when it established operations in Nigeria. “As a brand synonymous with quality products and ethical business operations in Africa, Tata International is excited to

By Adedapo Adesanya Connect Lab, an African focused Innovation Lab, has launched a female entrepreneurship development programme designed to reduce the inequalities and barriers affecting women in business. According to the initiative, this will be done by accelerating progress in gender equality through entrepreneurship development, linking and learning and access to finance. The Women in Business Growth Lab is a 3-month programme for early-stage women-led start-ups in Nigeria, created to stimulate businesses into profitable & sustainable enterprises to accelerate the creation of jobs on the continent. The project is aimed at fostering gender equality and bridging the gap in the

By Adedapo Adesanya Nigeria’s power sector lost about N468.4 billion between January and August 21 this year, the latest documents covering the industry’s performance showed. According to the documents, the loss was caused by a shortage of gas, transmission limitations, distribution restrictions and other constraints. In a breakdown of the details, the report showed that in January, the sector lost N56.4 billion in revenue, while in February, its revenues dipped by N54.9 billion and also plunged by N65.6 billion in March this year. Power sector’s constrained revenues for the months of April were N64.6 billion, and in May N61.6 billion,

By Modupe Gbadeyanka A British insurer, Prudential Plc, has entered into the Nigerian market by purchasing a majority state in a Nigerian firm, Zenith Life, a subsidiary of Zenith Bank, rebranding it to Zenith-Prudential Life Insurance. Prudential Plc is one of the oldest and most strongly capitalised life insurance companies in the world offering long-term savings and protection products, retirement income solutions and asset management across its markets in Asia, the US, the UK and Africa. The company, which was founded in London in 1848, has also agreed to exclusive bancassurance partnerships with Zenith Bank Plc. A statement issued by

By Dipo Olowookere Business Post has been reliably informed that some hoodlums attacked the campaign office of candidate of the Ali-Modu Sheriff-led faction of the Peoples Democratic Party (PDP) for the 2016 Ondo State governorship election, Mr Jimoh Ibrahim. The office, located along Oyemekun Road in Akure, the state capital, was raided by the yet-to-be identified thugs on Saturday night. The office is not too far from secretariat of the All Progressives Congress (APC) in Ondo State, which is also on the same stretch of road. A giant banner bearing Mr Ibrahim’s picture mounted at the office was pulled down

By Adedapo Adesanya Nigerian foremost rating agency, Agusto & Co, has assigned top merchant bank in the country, Coronation Merchant Bank, an A+ rating. In a recently released report, Agusto affirmed the A+ rating assigned to the bank with a stable outlook and stated that the rating reflects the bank’s position in the merchant banking space. The rating agency stated that Coronation Merchant Bank had good capitalisation, good asset quality and good liquidity position. However, it emphasised that the lender has high funding costs as well as a very volatile customer deposits, which it said are issues that could cause

By Adedapo Adesanya Exxon Mobil Corporation has announced plans to further reduce its workforce in the coming weeks. The leading integrated energy company is nearing the completion of its staff appraisal in the United States and Canada after which some workers will lose their jobs. According to report, in an email to its employees, the company’s chairman and CEO, Mr Darren W. Woods, said that additional reduction of headcounts was necessary since the energy business scenario is still challenging. Notably, the coronavirus pandemic has significantly battered global energy demand since strict lockdown measures are being taken to curb the spread

By Adedapo Adesanya The handlers of the Edo Modular Refinery have disclosed plans to increase its refining capacity target by 900 per cent to 60,000 barrels per day of crude oil against the initially planned 6,000 barrels per day. The modular refinery is a project being developed by two Chinese firms, AIPCC Energy Limited and the Peiyang Chemical Equipment Company Limited in the state. The Head Quality, Health and Safety/ Community Relations of the AIPCC, Mr Segun Okeni, disclosed this on Tuesday during an inspection tour of the site at Ologbo in Ikpoba-okha Local Government Area by a seven-man factional

By Dipo Olowookere Federal Government has been asked to put a stop to the planned concession of the Port-Harcourt Refinery to Agip and Oando by the Ministry of Petroleum Resources. The Senate, at its plenary on Tuesday, said though it was not against the concession, it was seriously not happy with the whole process. Senator Sabo Mohammed, who moved a motion on this yesterday, alleged that the process was shrouded in secrecy, which contradicts the present administration’s agenda. He said the bidding process should have been done openly. He said it was “illegal and a clear attempt at ridiculing Nigerians