The Managing Director of Okitipupa Oil Palm Plc has reportedly emphasized that Nigeria has the potential to become the number one palm oil producer globally. This assertion underscores the significance of the palm oil industry in Nigeria and the opportunities it presents for economic growth and development. As Infostride News closely monitors these developments, comprehensive coverage will be provided, including insights into the factors contributing to Nigeria’s potential as a leading palm oil producer, challenges faced by the industry, and strategies to enhance production. The statement from the Managing Director highlights the importance of maximizing the nation’s palm oil production…
Author: Temitope N.
Tanker drivers in Nigeria are reportedly threatening to halt the lifting of petrol from Monday, raising concerns about potential disruptions to the supply chain and availability of petroleum products. The threat is said to be in response to unresolved issues, including compensation and working conditions. As Infostride News closely monitors these developments, comprehensive coverage will be provided, including insights into the specific grievances raised by the tanker drivers, potential impacts on fuel supply, and efforts by relevant authorities to address the situation. The threat to stop petrol lifting underscores the importance of addressing the concerns of tanker drivers to maintain…
Pelican Valley, in collaboration with the National Youth Service Corps (NYSC), has reportedly charged corps members to embrace entrepreneurship as part of their post-service endeavors. This initiative aims to equip young graduates with the skills and mindset needed to explore entrepreneurial opportunities and contribute to economic development. As Infostride News closely monitors these developments, comprehensive coverage will be provided, including insights into the specific entrepreneurship programs offered by Pelican Valley, the impact on participating corps members, and the broader implications for youth empowerment. Encouraging corps members to embrace entrepreneurship aligns with the growing emphasis on self-employment and innovation. Understanding the…
A UK investor has reportedly advised the Federal Government to focus on harnessing local talents as a strategic approach to economic development. This recommendation emphasizes the importance of tapping into the potential of the domestic workforce to drive innovation, growth, and sustainability. As Infostride News closely monitors these developments, comprehensive coverage will be provided, including insights into the specific areas of talent harnessing recommended by the UK investor, potential benefits for the economy, and the alignment of this advice with existing government initiatives. The advice to focus on local talents underscores the significance of leveraging domestic human resources for economic…
Economists are attributing the recent crash of the naira and the surge in fuel prices as significant factors contributing to a spike in inflation, which has now reached 30%. The combination of currency depreciation and rising fuel costs is posing challenges to the economy, impacting the cost of goods and services. As Infostride News closely monitors these developments, comprehensive coverage will be provided, including insights into the specific factors driving inflation, the implications for consumers and businesses, and potential policy responses by relevant authorities. The naira’s decline and the increase in fuel prices are recognized as key drivers of inflation.…
Amidst challenges in the foreign exchange market and a potential fresh decline in the value of the naira, Nigerian banks have reportedly sold $3.3 billion. This move is seen as part of the Central Bank of Nigeria’s (CBN) efforts to stabilize the naira and address the pressures on the foreign exchange market. As Infostride News closely monitors these developments, comprehensive coverage will be provided, including insights into the factors contributing to the foreign exchange challenges, the impact on the naira’s value, and the effectiveness of the measures implemented by the CBN. The sale of $3.3 billion by banks indicates a…
According to the Auditor-General for the Federation (AuGF) report, the Central Bank of Nigeria (CBN) has allegedly split a $134 million bank transfer to avoid infractions. The report suggests that this action raises concerns about the transparency and adherence to financial regulations within the central bank. As Infostride News closely monitors these developments, comprehensive coverage will be provided, including insights into the details of the bank transfer, the reasons cited for splitting the funds, and the potential implications for financial governance and accountability. The AuGF report indicating the alleged splitting of a substantial bank transfer by the CBN raises questions…
In response to growing concerns about food security, stakeholders are reportedly calling for increased collaboration between the public and private sectors to address the challenges in the agricultural value chain. This advocacy aims to leverage the resources and expertise of the private sector to enhance food production, distribution, and accessibility. As Infostride News closely monitors these developments, comprehensive coverage will be provided, including insights into the specific areas of collaboration being proposed, the perspectives of stakeholders, and the potential impact on food security in the region. The call for private sector partnership underscores the recognition of the role that businesses…
The Federal Government, in collaboration with the International Fund for Agricultural Development (IFAD), has initiated a training program to empower 2,000 youths in Ondo State with agricultural skills. This strategic effort aims to enhance youth participation in agriculture, fostering sustainable practices and contributing to economic development. As Infostride News closely monitors these developments, comprehensive coverage will be provided, including insights into the specific agricultural skills imparted, the structure of the training program, and the anticipated impact on the participants and the agricultural sector in Ondo State. The joint training program by the Federal Government and IFAD demonstrates a commitment to…
NatnudO Foods, a prominent player in the agricultural sector, has reportedly initiated a program to empower university students by providing them with essential agricultural inputs. This move aims to foster agricultural education and entrepreneurship among the youth, contributing to the growth of the agricultural sector. As Infostride News closely monitors these developments, comprehensive coverage will be provided, including insights into the specific agricultural inputs offered, the universities involved in the program, and the broader implications for youth engagement in agriculture. The empowerment program by NatnudO Foods signifies a commitment to supporting the next generation of agricultural leaders. Understanding the nature…
In a significant milestone for environmental sustainability, the joint venture between the Nigerian National Petroleum Company Limited (NNPCL) and Total Energies has achieved zero gas flare. This accomplishment underscores the commitment to reducing environmental impact and aligning with global efforts to minimize gas flaring. As Infostride News closely monitors these developments, comprehensive coverage will be provided, including insights into the initiatives and technologies employed by the NNPCL/Total Energies joint venture, the impact on the reduction of greenhouse gas emissions, and the broader implications for the oil and gas industry. The achievement of zero gas flare by the joint venture signals…
The official market has witnessed the Naira trading at 1,498 against the US Dollar, signaling a prevailing exchange rate. In response to a fresh naira slump, the Central Bank of Nigeria (CBN) has reportedly sold $3.3 billion as part of efforts to stabilize the currency. Simultaneously, the CBN is actively combating racketeers involved in currency-related activities. As Infostride News closely monitors these developments, comprehensive coverage will be provided, including insights into the factors influencing the exchange rate, the measures implemented by the CBN to address the naira slump, and the broader implications for the economy. The Naira’s trading at 1,498/$…
In the wake of the recent passing of Herbert Wigwe, reports suggest that the United States is intensifying its probe into the circumstances surrounding his death. Additionally, Senator Kolade have visited the family to offer condolences and gain insights into the situation. As Infostride News closely monitors these developments, comprehensive coverage will be provided, including insights into the ongoing investigation by US authorities, the purpose of Senator [Name] and [Another Prominent Figure]’s visit, and the broader implications of the probe on the public perception of the incident. The deepening probe by US authorities suggests a meticulous examination of the events…
The equity market has reportedly continued its positive momentum, extending the rally with a notable gain of N329 billion. This development suggests ongoing investor confidence and positive sentiment within the stock market. As Infostride News closely monitors these developments, comprehensive coverage will be provided, including insights into the factors driving the equity market’s rally, notable stock performances, and the broader implications for investors and the financial market. The extended rally in the equity market indicates that investors are finding opportunities and value in the listed stocks. Understanding the factors influencing this positive trend provides valuable context for market participants. Investor…
Stakeholders from the capital market are reportedly paying condolence visits to the families of Oluwole Ogunbanjo and Herbert Wigwe, expressing their sympathies following the recent passing of these notable figures. This development marks a gesture of support and solidarity from the capital market community during this challenging time. As Infostride News closely monitors these developments, comprehensive coverage will be provided, including insights into the messages conveyed during the condolence visits, the impact of Ogunbanjo and Wigwe on the capital market, and the broader reflections on their legacies. The condolence visits by capital market stakeholders reflect a recognition of the significant…
Stakeholders in the sports betting industry are reportedly expressing opposition to the move by the House of Representatives to halt sports betting activities. This development raises concerns among industry players about potential impacts on their businesses and the broader sports betting ecosystem. As Infostride News closely monitors these developments, comprehensive coverage will be provided, including insights into the reasons behind the legislative move, reactions from stakeholders in the sports betting industry, and the broader implications for the gaming sector. The rejection by stakeholders suggests a clash of interests and perspectives between legislative authorities and the sports betting industry. Understanding the…
Kaduna Electricity Distribution Company (DisCo) has reportedly decided to increase staff salaries despite facing a substantial debt of N110 billion. This development raises questions about the financial decisions and sustainability strategies adopted by the utility company. As Infostride News closely monitors these developments, comprehensive coverage will be provided, including insights into the rationale behind the salary increase, the financial challenges faced by Kaduna DisCo, and the broader implications for the electricity distribution sector. The decision to increase staff salaries amidst a significant debt burden suggests a strategic move by Kaduna DisCo to address workforce considerations. Understanding the motivations and potential…
Maritime operators are reportedly expressing discontent following the Federal Government’s decision to adjust the cargo exchange rate upward. This move raises concerns among industry players about potential impacts on operational costs and overall business dynamics. As Infostride News closely monitors these developments, comprehensive coverage will be provided, including insights into the reasons behind the government’s decision, reactions from maritime operators, and the broader implications for the maritime industry. The adjustment of the cargo exchange rate can significantly influence the cost dynamics within the maritime sector. Understanding the motivations behind the government’s decision and the specific rate adjustments provides valuable context…
Reports indicate that marketers are currently awaiting fuel production from the Port Harcourt refinery following the supply of crude by Shell. This development raises expectations for increased local fuel production and distribution. As Infostride News closely monitors these developments, comprehensive coverage will be provided, including insights into the impact of the Port Harcourt refinery’s operations, the role of Shell in supplying crude, and the broader implications for the fuel supply chain in Nigeria. The expectation for fuel production from the Port Harcourt refinery suggests a potential positive development in the local refining capacity. Understanding the factors influencing this situation provides…
In response to the reported passing of Mr. Wigwe, Access Holdings has reportedly opened a condolence register at its head office. This initiative provides a platform for individuals to express their condolences and pay tribute to the departed figure. As Infostride News closely monitors these developments, comprehensive coverage will be provided, including insights into the condolence register, the sentiments expressed by individuals, and the broader impact of Mr. Wigwe’s passing on Access Holdings. Opening a condolence register is a customary and respectful way for organizations to allow employees, stakeholders, and well-wishers to express their condolences. Understanding the messages and tributes…