As part of the Federal Government’s ongoing commitment to ensuring the high-quality execution of construction projects, Minister of Works Dave Umahi has introduced six new policies to govern road construction initiatives throughout Nigeria. These policies were revealed during a courtesy visit by the national leadership of the Nigerian Society of Engineers (NSE), led by its President, Engr. Tasiu Sa’ad Gidari Wudil, to Umahi’s office in Abuja on November 23, 2023. This information was obtained from an official press statement on the Federal Ministry of Works website on November 24, 2023. To break away from the prevalent ‘business as usual’ approach…
Author: Temitope Nlewemchi
InfoStride News reported that PricewaterhouseCoopers (PwC) characterized gas discoveries in Nigeria as disappointing over the past decade, despite the country being a major gas consumer, based on PwC’s Africa Energy Review report from November 2023. The report highlighted limited gas discoveries in West Africa since 2019, with notable findings in Mauritania and Senegal between 2015 and 2019. These countries are set to begin operations in 2024 after monetizing their discoveries. In addressing domestic energy challenges, the report emphasized the potential impact of implementing domestic gas allocation, which could reduce reliance on diesel generators and coal power generation. The Trans-Saharan Gas…
InfoStride News reports that a range of popular retailers, including iConnect, Slot, Glo World, Casper Gadgets, SPAR, Reena’s, Royalline, Doe Resources, Pointek, Finet, Kolia Angels, iMate, and Rewjido, powered by Redington, have introduced the latest iPhone models – iPhone 15 and iPhone 15 Plus. These new models boast a stunning design and a powerful 48MP main camera with an additional 2x telephoto option. The iPhone 15 series is equipped with the A16 Bionic chip and features USB-C connectivity. On the other hand, the iPhone 15 Pro and iPhone 15 Pro Max are hailed as Apple’s lightest Pro models to date.…
Cameroon reached a pivotal milestone in the global battle against malaria as it received the first shipment of Mosquirix malaria vaccines from the British pharmaceutical giant GSK Plc on Tuesday. In a historic move, Cameroon becomes the first African nation to acquire the vaccine, marking a significant step in addressing the mosquito-borne disease that claims more than 600,000 lives worldwide annually. The consignment, comprising 331,200 doses of the RTS, S vaccine, landed at Yaounde’s Nsimalen International Airport. This achievement follows successful pilot programs in Ghana, Kenya, and Malawi, signifying a crucial moment in Africa’s collective efforts against malaria—a disease identified…
A recent survey conducted by InfoStride News in Lagos, Abuja, and Port Harcourt reveals the thriving Point of Sale (PoS) business in Nigeria. PoS agents can earn between N5,000 and N12,000 daily, depending on their location. This burgeoning industry, driven by the simplicity of the technology, has generated approximately 1.5 million jobs, surpassing the remuneration of many degree holders. Operators highlight the profitability, with some earning as much as N360,000 monthly, exceeding salaries in traditional banking roles. Strategic location selection, high foot traffic areas like markets and universities, and offering additional services such as bill payments and money transfers contribute…
InfoStride News reported that Nigeria’s gas flaring intensity has remained constant since 2015, according to the International Energy Agency (IEA). Despite significant efforts to reduce flaring intensity through regulations like the Nigeria Gas Master Plan and the Flare Gas (Prevention of Waste and Pollution) Regulation, emissions from flaring decreased by 65% between 2005 and 2015, but the intensity has plateaued since 2015 due to the challenges of implementing projects and aging infrastructure. The Nigerian government has demonstrated commitment by enacting stringent legislation, notably through the 1979 Associated Gas Re-injection Act, making Nigeria the first African nation with a roadmap restricting…
Kenya’s formal retail market has experienced substantial growth since 1983, driven by positive demographics, improved infrastructure, and a favorable business environment. The influx of foreign capital has played a pivotal role, attracting international retailers and developers. Currently contributing 15.4% to foreign direct investment (FDI), the wholesale and retail sector consistently ranks among the top three contributors to Kenya’s GDP. The formal retail space has grown at an average annual rate of 28.3% since 1983, with a total tracked stock of 1,232,925 m2. Notably, 15% of retail malls were developed by foreign investors, highlighting the sector’s attractiveness to international capital. Compared…
In Q3 2023, Information and Communications Technology (ICT) played a significant role in contributing 15.97% to Nigeria’s real Gross Domestic Product (GDP), as revealed by the National Bureau of Statistics (NBS) in its latest GDP report released on Friday. This indicates a growth in contribution compared to the 15.35% recorded in the same period last year. While the Q3 contribution is noteworthy, there is a decline from the Q2 2023 figure when the ICT sector contributed 19.54% to the real GDP. The NBS attributes this decrease to various factors within the sector. The ICT sector encompasses four key activities: Telecommunications…
In a challenging economic climate, Nigeria’s Fast-Moving Consumer Goods (FMCG) industry is strategically anticipating and overcoming obstacles, despite facing a staggering 27.33% inflation rate. The economic landscape, marked by inflationary pressures, serves as both a test and an inducement for the FMCG sector, requiring a deep understanding of consumer behavior and industry dynamics in this diverse and vibrant region. The unique canvas of Nigeria, with its varied cultures, customs, and socioeconomic strata, demands more than statistical analysis—it necessitates a dive into the core of consumer behavior. Companies must adapt to the new economic standard, examining shifts in consumer purchasing habits…
InfoStride News has reported that Governor Yahaya Bello of Kogi State has issued a directive for an immediate freeze on all state and local government accounts. The statement, signed by the Kogi State Commissioner for Finance, Asiwaju Asiru Idris, explicitly prohibits any payments from government accounts moving forward. This decision comes in the aftermath of the governor’s criticism of certain members of his cabinet and local government chairmen for alleged betrayal and disloyalty during the recent off-cycle governorship election on November 11. In the announcement, Commissioner Idris emphasized the cancellation of all standing orders and investment instructions. The freeze on…
President Bola Tinubu has given his assent to the Defence Industries Corporation of Nigeria (DICON) Bill, 2023, as announced in a State House Release by Ajuri Ngelale, the Special Adviser to the President on Media & Publicity, on Thursday, November 23, 2023. This information is available on the official X (formerly Twitter) handle of Fredrick Nwabufo, the Senior Special Assistant to the President on Public Engagement. The statement provided historical context, noting that the Defence Industries Corporation of Nigeria was originally established on August 1, 1964, by an Act of Parliament. This legislation was subsequently revised as the DICON Act…
InfoStride News reported that the recent weather outlook, as released by the Nigerian Meteorological Agency (NiMet) on Thursday, predicts sunshine and dust haze across the country from Saturday to Monday. NiMet’s forecast indicates that states in the North and North Central geo-political zones should expect moderate dust haze on Friday with horizontal visibility of 2Km to 5Km. Specifically, Yobe, Borno, Jigawa, and Kano States are anticipated to experience horizontal visibility localized to less than or equal to 1,000m during the forecast period. Inland states in the South are expected to have patches of clouds with sunshine, while coastal regions will…
The Chairman of the Presidential Committee on Tax and Fiscal Policy Reform, Taiwo Oyedele, voiced concern about the annual loss of up to N6 trillion in tax waivers in Nigeria, equivalent to the country’s yearly revenue. Oyedele disclosed this during an appearance on the “Sunrise Daily” program on InfoStride News, dated November 24, 2023. Confirming the Senate’s recently quoted figure for tax waivers, Oyedele emphasized the lack of measurement regarding the economic impact of these substantial waivers. He expressed dismay, stating that the amount given away annually is significant compared to the country’s revenue base, which was just around N6…
A UNESCO estimate reveals the pressing need for an additional 24.4 million primary school teachers and nearly 44 million secondary school teachers in Sub-Saharan Africa to achieve universal basic education by 2030. This critical issue took center stage in a recent webinar hosted by InfoStride News, attracting over a hundred participants, including experts, education professionals, and teachers, to explore various aspects of the challenge. The webinar covered diverse topics such as teacher motivation, working conditions, governance and management, utilization of information and communication technologies, and recruitment policies. Mr. Dimitri Sanga, Director of the UNESCO Office in Dakar, commended teachers for…
InfoStride News reported that the Nigeria Police Force (NPF) has apprehended politician Ambassador Wilfred Bonse in connection with the theft of over N200 million from Patricia Technologies’ crypto wallet. According to ACP Olumuyiwa Adejobi, the Force Public Relations Officer, Bonse assisted hackers in laundering N50 million from the stolen funds. The NPF, through its National Cybercrime Center (NPF-NCCC), is actively investigating the case involving criminal conspiracy, unauthorized computer system modifications, network data breaches, and the unlawful diversion of funds, as outlined in a petition to the Inspector General of Police. Providing insights into the alleged theft, cryptocurrency wallet conversions, and…
During the bustling shopping month of Black Friday, Amazon workers have chosen to express their dissatisfaction by participating in strikes, protesting against the labor practices of the U.S. e-commerce giant. Over 1,000 employees at the Coventry warehouse have reportedly walked out, joining an international movement with strikes planned across Europe and the USA. The global “Make Amazon Pay” campaign, coordinated by the UNI Global Union, has orchestrated strikes and protests in over 30 countries during the period from Black Friday to Monday, which follows the U.S. Thanksgiving holiday and is known for retailers offering substantial discounts. While Black Friday has…
Infostride News: TCN’s MD, Sule Abdulaziz, emphasizes the agency’s commitment to tackling corruption, unveiling a preventive guide handbook during an anti-corruption awareness program in Abuja. Abdulaziz, represented by TCN’s Executive Director, Human Resources and Corporate Services, Justin Ododo, highlights the severity of corruption and the establishment of the Anti-Corruption and Transparency Unit (ACTU) as a proactive measure. He stresses the handbook’s significance in preventing corruption, urging staff to engage actively, internalize its content, and apply its principles in their daily activities. Emphasizing its role in fostering a corruption-resistant workplace culture, Abdulaziz encourages the staff to see the handbook as more…
Dele Alake, the Minister of Solid Minerals Development, has emphasized the necessity of fostering inter-agency collaboration to realize the current administration’s goal of implementing reforms in the mining sector, aiming to position solid minerals as a significant contributor to the nation’s Gross Domestic Product (GDP). Alake made this assertion during a meeting with the Minister of Information and National Orientation, Mohammed Idris, in his office on Thursday in Abuja. In a statement released by his Special Assistant (Media), Segun Tomori, the minister acknowledged the pivotal role played by his information counterpart in supporting the current administration’s rise to power. He…
In a recent legal development reported by Infostride News, a Kano High Court granted bail to the former Managing Director of Kano Agricultural Supply Company, Bala Muhammad, and his son, Bala Jnr., who are facing charges related to the alleged diversion of N4 billion in state funds. The case, which has been a subject of investigation by the Kano State Public Complaints and Anti-Corruption Commission, involves accusations of criminal breach of trust, making false statements or returns, and official corruption. The legal proceedings began with the arraignment of Bala Muhammad before Justice Hafsat Sani. On November 2, 2023, he was…
Infostride News has reported that the Nigerian Exchange Limited (NGX) is urging the Federal Government and the Central Bank of Nigeria to give priority to listed corporates in their procurement processes and foreign exchange access. Temi Popoola, the CEO of NGX, emphasized that such an approach could incentivize more companies to list on the Exchange, offering a potential solution to the prevailing foreign exchange challenges in the country. Speaking at the recent MTN Capital Markets Day, Popoola expressed enthusiasm about President Bola Tinubu’s administration and its renewed hope agenda. He sees this as an opportunity to collaborate with market stakeholders…