The Managing Director and Chief Executive Officer (CEO) of Aradel Holdings, Mr Adegbite Falada disclosed that the advantages of local modular refineries serve as substitution to import products and reduces pressure on forex exchange. He made the disclosure during a panel discussion at the ongoing 7th Nigeria International Energy Summit (NIES) in Abuja on Wednesday. According to him the government and all stakeholders should encourage local refining of crude into petroleum products as very essential towards availability of the products in the country. He said, “Local refineries will encourage import substitution which will reduce pressure on the nation’s foreign exchange,…
Author: IBM AUTHOR
…To subsidise land clearing, provide haulage trucks, tractors Oyo State governor, ‘Seyi Makinde, has suspended the revenue collection on agric produce to alleviate hardship. The Governor declared some far-reaching measures towards addressing the rising cost of food in the state, stating that his government will continue to do everything necessary to make life easy for residents of the state. He declared that his government will move in to subsidise land clearing for farmers across the state with an initial sum of N600 million, with farmers now expected to pay N15,000 instead of N30,000 for land clearing, while the government will…
To further expand the capacity of its public road transport coverage, the Lagos State Government is awaiting the delivery of no fewer than 2,050 vehicles to further ease commuting by road across the State. The Lagos State Commissioner for Transportation, Oluwaseun Osiyemi, disclosed this in an interview. According to him, the procurement of the vehicles – Bus Rapid Transit (BRT) — would further address queues at bus stations. He said more BRT buses will also be provided with the support of an oil company that has promised to support the government’s effort. “We’re aware of the long queues in…
Controversial comedian Oluwaseyitan Aletile, popularly known as Seyi Law, has said he lost over 200,000 followers because of his social media activism for President Bola Tinubu during the 2023 election campaign. He disclosed this while featuring as a guest in a recent episode of The Honest Bunch Podcast co-hosted by actor Chinedu Ani Emmanuel, aka Nedu, Toun Cole, and Husband Material. The comedian said, “I lost over 200,000 followers because of the election which for me, is not a problem. The most important thing is that whatever you do, try as much as possible to draw that you’re doing it…
The Nigeria Labour Congress (NLC) has suspended its nationwide protests. The protests had kicked off on Tuesday across various states of the country peacefully. President of the NLC, Joe Ajaero had explained that the protest was about hunger and not just a clamour for a review of the minimum wage. The Labour, in a communiqué at the end of its National Executive Council meeting, said the objectives of the protest were achieved on the first day of the demonstration. The communique partly reads: “Consequently, NEC-in-session resolved as follows: to suspend street action for the second day of the Protest having…
The Governor of Bayelsa State, Senator Douye Diri, has said his administration is working on reducing the working hours of workers in the state as a way of cushioning the effects of the prevailing economic hardship in the country. Senator Diri stated this while addressing chairman of the state chapter of the Nigeria Labour Congress (NLC), Comrade Barnabas Simon, who led workers in the state on a protest to Government House, Yenagoa as directed by the National body of the NLC. The governor assured that he would meet with the state’s Head of Service and the NLC chairman to discuss…
Plans to unveil the Lagos Red Line Rail have further been fortified following a test run of the train system for operation. The test process was conducted to ascertain readiness for the launch of the infrastructure for public use, as President Bola Tinubu is billed to commission the project on Thursday, 29th February. Governor Babajide Sanwo-Olu, weekend, took a test run of the Red Line train, inspecting the tracks and the rail corridors for another time ahead of the Thursday formal commissioning of Lagos Rail Mass Transit (LRMT) infrastructure. The 37-kilometre rail line, built by the Lagos Metropolitan Area Transport…
The Central Bank of Nigeria (CBN) on Tuesday approved allocation of 20,000 dollars to all eligible Bureau De Change (BDC) operators across the country as part of its on-going reforms. Dr Hassan Mahmud, Director, Trade and Exchange Department, CBN, in a circular, said the move was aimed at tackling distortions in the retail segment of the nation’s foreign exchange market. The circular addressed to BDC Operators said they were allowed to sell to end-users at a margin not more than one per cent above the purchase rate from CBN. “Following the on-going reforms in the foreign exchange market, aimed at…
The Joint Admissions and Matriculation Board (JAMB) says it has commenced the sales of 2024 Direct Entry documents in its accredited centres, nationwide and in selected foreign centres. The Board added that the registration process, will begin on Wednesday, Feb. 28 and close on Thursday, March 28. JAMB disclosed this in a statement, by its Public Communication Advisor, Dr Fabian Benjamin, on Tuesday in Abuja. “The sale is open to foreign candidates desirous of tertiary education in Nigeria through the Direct Entry mode. ” Furthermore, the board will continue to ensure a level playing field for all candidates irrespective of…
The Minister of Police Affairs, Sen. Ibrahim Gaidam, has reiterated the commitment of the Federal Government to successfully implementing the West African Police Information System (WAPIS) initiative to ensure a safer and more secured region. The minister, represented by Mr Ibrahim Buratai, the Director of Police Services in the ministry, said this on Tuesday in Abuja at a briefing on the activities of WAPIS in Nigeria. ” In our unwavering pursuit for a safer and more secured West Africa, Nigeria has taken significant steps to ensure the successful implementation of WAPIS,” the minister said. He said Nigeria’s partnership with INTERPOL…