FY 2018: Transcorp Hotels Declares N3.7b Profits, N1.1b Dividend

By Modupe Gbadeyanka Steps are being taken by a leading amusement park and resort in Nigeria, Omu Resort, to ensure Delta State become the latest global tourism hub. The company has come up with a multifaceted initiative known as Discover Delta to attract tourists across the world to the oil-rich state and earn scarce foreign exchange (FX) for the country. It intends to achieve this goal and redefine the tourism landscape in Delta State through the Leisure Park and Film Village Asaba. A statement from the firm said in September 2023; it would launch the Discover Delta initiative, which encompasses

By Modupe Gbadeyanka Operations of foreign airlines at the Murtala Muhammed International Airport (MMIA) have been moved to the new international terminal of the facility. This followed the directive of the Federal Airports Authority of Nigeria (FAAN) to the airline operators in compliance with an order of the Minister of Aviation and Aerospace Development, Mr Festus Keyamo, a few days ago. During a visit to the Lagos airport, Mr Keyamo asked foreign airlines to move to Terminal 1 of the facility on or before October 1, 2023. However, after a fire incident at the MMIA on Wednesday, FAAN, which oversees

By Aduragbemi Omiyale Residents of Delta State will enjoy 2023 Christmas like never before as the management of Leisure Park has decided to take this year’s Christmas extravaganza to the South-South state. Tagged Christmas in Delta, the event will commence on December 1, 2023, and will run through to January 14, 2024, across multiple locations in the 25 local government areas of the state. The Public Relations Officer of Leisure Park, Mr Godday Umukoro, said in a statement that this was part of the company’s determination to ensure Deltans see Christmas in another prism. According to him, Christmas in Delta

By Adedapo Adesanya The Senate Committee on Public Account will be investigating a difference of N120 billion found in subsidy payment to the Independent Petroleum Marketers Association of Nigeria (IPMAN) by the Petroleum Products Pricing Regulators (PPPRA) in 2016. The upper chamber discovered that in an Auditor-General for the Federation (AuGF) 2016 report, the subsidy payment reflected in the record of the Federation Account Allocation Committee (FAAC) was N443 billion while the record presented by the PPPRA showed N563 billion. “The amounts reflected in FAAC records at the OAGF (Office of the Auditor-General for the Federation) of N443,940,559,974.80 as subsidy

By Modupe Gbadeyanka Muslims who wish to observe the 2021 Umrah (lesser Hajj) in Saudi Arabia through the Lagos State government will have to pay N1.37 million. A statement issued by the Lagos State Muslim Pilgrims Welfare Board disclosed that the amount is the least package fees. “The first package at a cost of N1.37 million includes stay at a 3-star hotel; Sahur (morning meal) and Iftar (evening meal) in Nigerian delicacies; economy class ticket with a reputable airline; executive and convenient local transportation; five days stay in Madinah, including three days isolation period; COVID-19 tests in Makkah and Madinah;

By Kestér Kenn Klomegâh The Black Sea Grain Initiative, established primarily to allow grains and fertilizer exports to overseas countries, has attracted broadly high-level discussions over the past few weeks. The relevant grain deal agreements, which were extended in March for 60 days only at Moscow’s request, are set to expire on May 18. The main bone of dissatisfaction and strong disagreement about its third-term extension arises from Russia, which claims its conditions be taken into account and strictly followed. Russia has engaged in its ‘special military operation’ with neighbouring Ukraine and stands against Western hegemony. In Istanbul, participants in

By Adedapo Adesanya As recession fears loom globally amid crash in oil prices, which are now trading in dire territory, the federal government has announced a downward review of its oil benchmark for the 2020 budget to $30 per barrel from $57 per barrel. This is happening as the global market is facing a Russia-Saudi Arabia oil face-off amid the crippling of the black gold by coronavirus epidemic. Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, announced on Wednesday that government hopes the country can sustain the projected 2.18 million barrels per day production. She said, “On benchmark,

By Aduragbemi Omiyale Even though quality education is far beyond the reach of low-income families, they can still give their children the best at affordable rates without hassles. This is where Grace Amuzie comes in to bridge the gap by offering quality and low-cost educational services to those believed to be at the last base of the strata. She recently won the first position at the Savvy Prize for Impact Driven Entrepreneurs through her Recycle Pay Project Initiative, which she uses to fund Isrina Schools. Isrina Schools targets male and female students between the ages of 2 to 13 from

By Aduragbemi Omiyale On Wednesday, August 31, 2022, stakeholders in the Nigerian capital market gather for a virtual event organised by the Nigerian Exchange (NGX) Limited to educate participants on steps being taken to guard against sharp market fluctuations. In 2016, the NGX Index Circuit Breaker was introduced and on November 12, 2020, it was triggered for the first time when the All-Share Index (ASI) surged beyond the 5 per cent threshold. Circuit breakers are trading halts used by exchanges to guard against sharp fluctuations in the market and are designed to give the market an opportunity to take a

By Modupe Gbadeyanka Nigeria’s President, Mr Muhammadu Buhari, on Monday night, returned to the country from a short trip to London. The President had made the trip to the United Kingdom after participating at the 72nd Session of the United Nations General Assembly in New York on 25th Sept 2017. Spokesman of the President, Mr Femi Adesina, on Monday night, confirmed the arrival of Mr Buhari to Nigeria via his official Facebook page. He is believed to have made the trip to the UK to meet with his doctors, after earlier spending over three months in London for medical vacation.

By Modupe Gbadeyanka The construction of the Pen Cinema Flyover in Agege area of Lagos State is expected to be delivered in November 2017, the state Governor, Mr Akinwunmi Ambode has assured. Speaking during an inspection of the site yesterday, Mr Ambode explained that the 1.4km Flyover which will run from Agege down to the Abeokuta Expressway, will be a key intervention strategy by his administration to address the perennial traffic often associated with the area Accompanied by key members of his cabinet, the Governor said though the project might bring about some inconveniences, he assured them that the end