The Ooni of Ife, Oba Enitan Ogunwusi, has praised businesses operating in Ekiti State for their significant contributions to the state’s economic growth. His Majesty highlighted the positive impact these companies have had on job creation, infrastructure development, and the overall prosperity of the region. During a recent visit to Ekiti, the Ooni acknowledged the efforts of both small and large enterprises in driving economic activities across various sectors, including agriculture, manufacturing, and services. He emphasized that these companies are not only enhancing the state’s revenue base but also providing vital opportunities for local residents. “Businesses in Ekiti are not…
Author: Temitope N.
In a heartwarming act of philanthropy, renowned health advocate and social media influencer Aproko Doctor has donated a solar power system to a hospital in Epe, Lagos State. The initiative aims to address the persistent power challenges faced by the healthcare facility, ensuring uninterrupted services and improved patient care. The solar system, designed to provide reliable and sustainable energy, will power critical areas of the hospital, including the emergency room, operating theater, and maternity ward. By reducing dependence on erratic grid power and costly generators, the donation is set to enhance the hospital’s operational efficiency and create a safer environment…
The Nigeria Customs Service (NCS) has intercepted 2,000 bags of rice and 844 rifles in a significant operation aimed at curbing smuggling activities. The seizure highlights the agency’s intensified efforts to combat illegal trade and protect the nation’s economy and security. The operation, carried out by officers of the NCS, targeted a smuggling syndicate operating across Nigeria’s borders. Acting on intelligence, the team successfully apprehended the illicit goods, which were concealed in a convoy of vehicles attempting to evade customs checks. Customs Comptroller-General Adewale Adeniyi commended the officers involved, emphasizing the importance of the operation. “This seizure is a testament…
In a major move toward tax reform, Taiwo Oyedele, the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, has announced that 90% of workers in both the public and private sectors will soon benefit from reduced tax burdens. The initiative is part of the government’s broader strategy to create a fairer, more efficient tax system that supports economic growth while easing the financial load on lower-income earners. Oyedele revealed that the reform package focuses on reducing the complexity of the tax system, addressing inefficiencies, and ensuring equity. By lowering the tax rates for the vast majority of…
Ogun State has achieved a significant milestone in its quest for energy autonomy by obtaining an electricity regulatory oversight license. This development positions the state to play a more active role in managing its power supply and distribution, addressing long-standing energy challenges that have hindered economic growth and industrialization. The license, granted by the Nigerian Electricity Regulatory Commission (NERC), empowers Ogun State to oversee electricity operations within its jurisdiction. This includes regulating power generation, distribution, and ensuring compliance with industry standards. The move is part of a broader federal initiative to decentralize energy management and promote regional solutions to Nigeria’s…
Sterling Financial Holdings Company (Sterling Holdco) has projected gross earnings of N121.8 billion for the fiscal year, underscoring its robust growth trajectory and diversified business model. The forecast reflects the group’s confidence in leveraging its strategic initiatives and market opportunities to deliver solid financial performance. The projection aligns with Sterling Holdco’s recent restructuring, which transformed the organization into a holdings company overseeing a range of subsidiaries. These subsidiaries span sectors including banking, healthcare, agriculture, and energy, allowing the group to mitigate risks and capitalize on multiple revenue streams. A spokesperson for Sterling Holdco highlighted the company’s focus on innovation and…
Haldane McCall, a leading real estate development company, has announced a remarkable achievement in the Nigerian property market, generating N2.5 billion through the sale of housing units. This milestone underscores the growing demand for quality and affordable housing solutions in the country and highlights the company’s pivotal role in addressing the housing deficit. The success stems from a combination of well-planned residential projects and strategic marketing efforts. Haldane McCall’s portfolio includes a range of housing options designed to cater to diverse income levels, from luxury apartments to budget-friendly units. By maintaining high construction standards and offering flexible payment plans, the…
KFC Nigeria is spreading holiday cheer with the unveiling of its latest offering: a special festive meal designed to bring families and friends together during the season of celebration. This limited-time menu promises to deliver the signature flavors KFC is known for, with a seasonal twist to delight its customers. The festive meal features an array of options that cater to both traditional and adventurous palates. Highlights include KFC’s iconic crispy fried chicken, complemented by specially crafted sides and sauces inspired by local Nigerian flavors. The meal is designed to offer a satisfying combination of taste and value, making it…
This year marks a significant milestone for Citibank as it commemorates 40 years of service. Since its establishment, the institution has played a pivotal role in shaping the global banking landscape, offering innovative financial solutions and fostering economic growth. Citibank began its journey with a vision to provide world-class banking services, and over the decades, it has expanded its reach to become a key player in the global financial sector. From pioneering digital banking solutions to supporting businesses and individuals through complex financial markets, Citibank has consistently adapted to the evolving needs of its customers. The bank’s leadership attributes its…
Thousands of passengers have flooded bus parks in Abuja and Lagos following the announcement of reduced transportation fares by the administration of President Bola Tinubu. The initiative, aimed at alleviating the financial burden on commuters, has been met with widespread enthusiasm, as many Nigerians struggle with the rising cost of living. The fare reduction is part of the government’s broader strategy to ease transportation costs and provide relief to citizens amid ongoing economic challenges. By slashing fares on intercity and interstate routes, the government hopes to make transportation more affordable and accessible to the general public. At major bus parks…
The Federal Government of Nigeria has earmarked N8.73 billion for the development and upgrade of power infrastructure at the country’s airports in 2024. This investment is part of the government’s ongoing efforts to enhance airport facilities and improve overall passenger experience. The allocation is set to address critical power supply issues, which have long been a challenge at various Nigerian airports. This funding will be used to upgrade existing power systems, ensure more reliable electricity supply, and introduce sustainable energy solutions, including the integration of renewable energy sources. Airport officials highlighted that the move is expected to enhance operational efficiency,…
The Nigerian National Petroleum Company Limited (NNPCL) has inaugurated a state-of-the-art command centre designed to enhance oil and gas production across the country. The new facility aims to improve operational efficiency, streamline decision-making processes, and optimize production monitoring and management in real time. The command centre is equipped with cutting-edge technology, including advanced data analytics tools and communication systems, to enable better management of oil and gas assets. It will allow NNPCL to monitor operations across various oil fields and facilities, ensuring that any challenges or inefficiencies are quickly identified and addressed. NNPCL officials emphasized that the command centre will…
Women are increasingly making their mark in the maritime sector, historically dominated by men, and are playing a pivotal role in reshaping the industry. With growing representation in various maritime domains, from shipping and logistics to port operations and maritime safety, women are driving innovation, advocating for inclusivity, and demonstrating leadership in an evolving sector. In recent years, there has been a notable shift in the number of women pursuing careers in maritime, with many breaking barriers and setting new standards. Women are now occupying key positions in maritime organizations, influencing strategic decisions, and contributing to policy development. Their involvement…
Telecommunications companies in Nigeria have expressed optimism about President Bola Tinubu’s economic reforms, anticipating significant relief from the longstanding issue of multiple taxation in the sector. The telcos are hopeful that the administration’s drive for regulatory efficiency and ease of doing business will address the tax burdens that have hindered industry growth. Industry stakeholders have consistently decried the heavy tax obligations imposed by various levels of government, which they argue stifle innovation and lead to higher costs for consumers. According to telecom operators, the proliferation of taxes—ranging from statutory levies to arbitrary charges—has been a major impediment to infrastructure expansion…
The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) has described 2024 as a challenging year for industries, citing persistent economic hurdles. The association pointed to factors such as high inflation, foreign exchange volatility, and rising production costs as critical issues affecting business operations across the country. In a statement, NACCIMA noted that while the government has implemented some measures to stabilize the economy, the industrial sector continues to face significant headwinds. “Industries are grappling with an uncertain operating environment marked by escalating costs and declining consumer purchasing power,” the statement read. Energy costs, limited access to…
Egbin Power Plc has launched an outreach program to provide free medical services to communities surrounding its operations. The initiative is part of the company’s corporate social responsibility (CSR) efforts, aimed at improving the health and well-being of its host communities. The program offers a range of medical services, including consultations, diagnostic tests, medications, and minor treatments, all at no cost to the beneficiaries. Residents of the benefiting communities have commended Egbin Power for its impactful gesture, noting that access to quality healthcare has been a longstanding challenge for many. A representative from Egbin Power stated that the initiative underscores…
Zacch Adedeji, the Special Adviser to the President on Revenue, has applauded the Nigerian Ports Authority (NPA) for its instrumental role in advancing the naira-for-crude oil initiative. This strategy seeks to reduce Nigeria’s dependence on foreign currency in crude oil transactions by promoting the use of the naira in international trade. Adedeji highlighted the NPA’s operational contributions, which have been vital in facilitating the initiative’s smooth implementation. “The NPA has shown outstanding commitment to national economic goals by ensuring that this program is effective and aligned with the broader agenda of currency stabilization,” he stated. The naira-for-crude policy is part…
The Nigerian Shippers’ Council (NSC) has announced plans to establish a comprehensive databank for the maritime sector to enhance operational efficiency, transparency, and informed decision-making. The databank will serve as a centralized repository of information, providing stakeholders with access to critical data on shipping activities, port operations, and trade logistics. According to NSC officials, the initiative aims to address longstanding issues such as information gaps, inefficiencies, and lack of accountability in the sector. The databank will leverage modern technology to provide real-time insights, facilitate data sharing among stakeholders, and support the implementation of policies to improve maritime operations. Speaking on…
The Nigerian Maritime Administration and Safety Agency (NIMASA) has been recognized with the prestigious SERVICOM Award for its commitment to exceptional service delivery. The award acknowledges NIMASA’s efforts in enhancing operational efficiency, stakeholder engagement, and adherence to the principles of transparency and accountability in the maritime sector. At the award ceremony, SERVICOM officials lauded NIMASA for consistently upholding service excellence and implementing reforms that have improved the agency’s responsiveness to public and private sector needs. “NIMASA has set a benchmark in ensuring that its services meet and exceed the expectations of Nigerians,” stated a SERVICOM representative. In his acceptance speech,…
The adoption of advanced technology at Nigeria’s ports has been identified as a crucial step in eliminating corruption and inefficiencies, according to a logistics and maritime expert. Speaking at a recent industry forum, the expert emphasized that digital transformation could streamline port operations, improve transparency, and significantly reduce human interference, which often leads to corrupt practices. Key technologies such as automated cargo tracking systems, electronic payment platforms, and digital documentation are seen as game-changers for the industry. These tools can enhance operational efficiency by reducing delays, simplifying clearance processes, and providing real-time data on cargo movement. The expert stressed that…