This is coming as Dangote Sugar Refinery Plc won an award, having been ranked as the leading company with significant strides in institutionalising large-scale food fortification best practices. The pledge was made at the 4th yearly CEO Forum of Food Processing & Nutrition Leadership themed ‘Ensuring Improved Health and Nutrition Through Cross-Sectoral Leadership’ organised collaboratively by TechnoServe; Aliko Dangote Foundation (ADF) and Bill & Melinda Gates Foundation in Lagos. President of Dangote Group and Chairman of the ADF, Aliko Dangote, who chaired the meeting, said food fortification is a health issue that members of the Forum are committed to complying…
Author: Temitope N.
The Lagos State Police Command has disclosed the arrest and arraignment of the prime suspect who gave out kegs of petrol as souvenirs during a party held at Havilah Events Centre, Victoria Island on March 4, 2022. This is coming about 10 days after the Lagos State Government ordered an investigation into the incident after its viral video trended on various social media platforms. This disclosure is contained in a statement issued by the command and signed by the Police Public Relations Officer (PPRO), Lagos State Command, CSP Adekunle Ajisebutu, on Tuesday. Ajisebutu in his statement said that the prime…
The Federal Competition and Consumer Protection Commission (FCCPC) has served wide ranging orders on Google LLC (Play Store) and Apple Inc. (App Store) to enforce withdrawal of certain money lending applications from their stores. This was made public by the agency in a statement issued by Babatunde Irukera, it’s Executive Vice Chairman/Chief Executive Officer. According to the statement, the duo Tech firms are expected to withdraw certain lending app firms where evidence has established inappropriate conduct or use of the application in violation of the rights of consumers. It stated, “The Commission has entered and served wide ranging orders on Google…
The Federal Government has established that the total number of Nigerians evacuated from Ukraine is now at 1,531, as the FG puts more efforts to evacuate more Nigerians. This was disclosed by the Nigerians in Diaspora Commission (NIDCOM) in a statement on Tuesday morning. The Diaspora Commission brought back students from Romania via a Turkish Airline flight. NIDCOM announced a new batch of evacuation that landed in Nigeria on the 14th of March 2022 from Romania It stated, “Federal Government received another 31 Returnees from Ukraine through Romania aboard Turkish Airlines, which landed at about 06:30a.m at the Nnamdi Azikwe…
The Manufacturers Association of Nigeria (MAN), has warned that Nigerian manufacturers are set to face issues with production of goods as the cost of diesel hits N730 per liter. This was disclosed in a statement by Mr Lanre Popoola, Chairman, Manufacturers Association of Nigeria (MAN), Oyo, Osun, Ekiti and Ondo on Sunday, according to the News Agency of Nigeria. He also urged for the government’s intervention through palliatives to enable manufacturers to handle the costs. Popoola said, the current costs of diesel has made it difficult to ensure production at this time, as diesel has gone up to N720 and…
The Russian invasion of Ukraine seems to have turned as reports have it that the Russian government has requested that the Chinese government for military support to continue its invasion. This was made known in a report by Financial Times which cited interviews with U.S Government officials on Sunday. This also comes as the scale of the invasion takes a toll on Russia, as it lost military equipment in a war that has entered its 3rd week. The White House did not comment, meanwhile, the report also stated that Liu Pengyu, the Chinese embassy spokesperson in Washington, said he was unaware…
Former Senate President, Bukola Saraki has challenged the Federal Government’s plans to spend on Petrol subsidy based on 70 million liters a day consumption, stating that Nigeria’s fuel consumption cannot be more than 35 million liters a day, and hinted that Nigeria could be subsidizing fuel for neighboring West African states. This comes as President Muhammadu Buhari transmitted the 2022 Appropriation Act (Amendment) bill to the National Assembly last month, where the FG earmarked the sum of N2.557 trillion for fuel subsidy following the suspension of the implementation of the policy by the federal government. He stated that he has seen the…
The Federal Government of Nigeria established that commercial activities at the Lekki Deep Seaport are to commence in September, citing that the port will contribute $360 billion to Nigeria’s GDP. This was disclosed by the Transport Minister, Rotimi Amaechi in a statement on Sunday, after inspecting the project. The Minister assured that the port is automated, emphasising that it would be something close to the DP wall in Dubai. The Minister said that he is impressed with the progress of work, adding that commercial activities would commence in September. He said, “Inspecting the Lekki Deep Seaport today, there’s huge improvement compared to the…
The heads of UNICEF, the World Health Organization (WHO) and the UN Population Fund (UNFPA) have pleaded with Russia to stop the attacks on Ukraine’s healthcare facilities. This was made known in a joint statement by UNICEF Executive Director Catherine Russell, UNFPA Executive Director Dr. Natalia Kanem, and WHO Director-General Dr. Tedros Adhanom Ghebreyesus Since Russia invaded Ukraine, 31 attacks on health care have been documented by the World Health Organization. These incidents have killed and injured civilians, as well as destroyed facilities and ambulances, disrupting access to essential health services. The heads of UNICEF, the WHO and UNFPA called for…
The Centre for the Promotion of Private Enterprise (CPPE) has requested for the halt of the planned imposition of excise duties on manufacturers. This was made known by Dr. Muda Yusuf, CEO of CPPE in a document titled, “CPPE calls for suspension of planned imposition of excise duties on manufacturers” Yusuf claimed that the Finance Minister, Mrs Zainab Ahmed, warned earlier this year that excise duty would be levied on a variety of manufactured commodities in the country soon. He, however, argued that manufacturers are already facing extremely difficult times as a result of growing energy costs, rising operational expenditures,…
The Eko Electricity Distribution Company (EKEDC) board of Directors of has hired Dr Tinuade Sanda, as the Deputy Managing Director of the company. This was made known in a statement issued and signed by the company’s General Manager, Corporate Communications, Godwin Idemudia, on Monday. According to the statement, Sanda, who was the Chief Accounting Officer prior to her appointment – a position she had occupied since 2013 – was appointed to assist in leading the company toward its vision of becoming the leading and customer-centric electricity distribution company in Africa as the board and the management are confident in her…
The Federal Government has stayed on its ground that it has met all of the demands of the Academic Staff Union of Universities (ASUU) as the union has extended its warning strike by another 2 months. This was made known by the Minister of State for Education, Mr Chukwuemeka Nwajiuba, while reacting to the declaration of the rollover of the strike by the lecturers’ union during an interview with journalists at the end of the commemoration of the 2022 Commonwealth Celebration in Abuja on Monday. According to NAN, Nwajiuba, who insisted that the federal government had met all of the…
Google parent Alphabet on Tuesday quarterly profit tripled, as money poured in from ads on its search engine and YouTube video platform. “There was a rising tide of online activity in many parts of the world, and we’re proud that our services helped so many consumers and businesses,” Alphabet chief executive Sundar Pichai said of the quarter. The internet titan reported that profit nearly tripled from last year to $18.5 billion on revenue that rose sharply to $61.9 billion. Google is among the tech companies that saw use soar as the pandemic accelerated a trend toward working, shopping, socializing and…
Technology firm, SystemSpecs, has emphasized the importance of collaboration in the sustenance of the information, communication and technology (ICT) sector. Executive Director, SystemSpecs, Deremi Atanda, who said this, disclosed that Nigeria needs to harness emerging opportunities through productive collaborations at various levels. Atanda spoke as a panelist during a recent webinar organised by the Telecommunications and Technology Sustainability Working Group (TTSWG), themed ‘Collaborations for a Resilient ICT Sector.’ Atanda reiterated strategy, planning and actions as key areas to drive collaborations that would work while highlighting that awareness plays an integral part in this campaign. He suggested some steps, including the…
Data Science Nigeria (DSN), a non-governmental organisation that is building Artificial Intelligence (AI) knowledge, research, and innovation ecosystem in Nigeria, has delivered another programme through its AI for Energy Hackathon. The programme sponsored by NNPC/CNL JV (CNL) was created for participants to develop Artificial Intelligence solutions for Carbon Reduction in the energy sector, with three teams emerging as the top winners. According to DSN, 609 applications were received from over 100 institutions. After a punctilious process of selection, 184 participants were selected into 40 separate teams. A total of 25 solutions were received with different outcomes ranging from Hardware, Software,…
The Nigerian equities market reopened in an upbeat yesterday, as market capitalisation increased by N51 billion, following gains recorded by many blue-chip stocks. At the close of trading yesterday, the All-Share Index (ASI) increased by 93.43 absolute points, representing a growth of 0.20 per cent to close at 47,111.21 points. Similarly, the overall market capitalisation size gained N51 billion to close at N25.457 trillion. The upturn was impacted by gains recorded in large and medium capitalised stocks, amongst which are; Guinness Nigeria, United Capital, Africa Prudential, May & Baker Nigeria and International Breweries. On market outlook, GTI Securities Limited said,…
The Nigerian Exchange Limited (NGX) reversed gains to close on a downward note, yesterday, occasioned by losses in 16 stocks, as market capitalisation depreciated by N21 billion. Specifically, market capitalisation of listed equities declined by 0.08 per cent to N25.442 trillion from N25.463 trillion reported the previous day. The All Share Index (ASI) also depreciated by 39.63 basis points to 47207.67 points from 47246.90 points recorded on Tuesday. Investors traded 203.645 million shares valued at N3.493 billion in 4377 deals against 421.820 million shares worth N5.155 billion exchanged hands the previous day in 5992 deals. The downturn was impacted by…
At the close of last week’s transactions, the financial services industry led the activity chart with 1.120 billion shares valued at N10.9 billion traded in 13,514 deals; thus, contributing 67.13 per cent to the total equities turnover. The conglomerate industry followed with 242.945 million shares worth N395.2 million in 1,418 deals. The consumer goods industry ranked third with a turnover of 80.368 million shares worth N1.95 billion in 3,876 deals. Specifically, trading in the top three equities namely: Transnational Corporation of Nigeria Plc (Transcorp), United Capital Plc and Zenith Bank Plc (measured by volume) accounted for 491.673 million shares worth…
The bulls maintained dominance on the equities sector of the Nigerian Exchange Limited (NGX), occasioned by gains in Seplat and 14 stocks, as market capitalisation increased by N48 billion. The All-Share Index (ASI) grew by 88.20 absolute points, representing an increase of 0.19 per cent to close at 47,482.73 points, while the overall market capitalisation value gained N48 billion to close at N25.591 trillion. The market gain was driven by price appreciation in large and medium capitalised stocks, among which are: Seplat Energy, MTN Nigeria Communications (MTNN), Nigerian Exchange Group (NGXGroup), Unilever Nigeria and Royal Exchange. On market performance, GTI…
The National Bureau of Statistics (NBS) disclosed that the nation recorded a deficit trade balance of about N3.02 trillion in the third quarter of 2021 as the value of imports continued to outweigh exports. In its latest report on foreign trade in goods, the NBS revealed that total exports stood at N5.13 trillion in the third quarter of 2021, which shows a one per cent growth compared to the second quarter of the same year and a 71.38 per cent growth compared to the third quarter in 2020. “Export in the third quarter of 2021 was still oil-dependent,” the…