Author: Mary Osisanya-Bello

As Dangote Refinery commences local petrol supply, PDP chieftain Otunba Segun Showunmi urges Alhaji Aliko Dangote to prioritize patriotism and nationalism over profit. Showunmi, in a statement, acknowledged Nigerians’ suffering from high petrol prices and pleaded with Dangote to moderate pricing. He praised Dangote’s contributions to investment and employment, describing him as a “great gift to Africa.” Showunmi emphasized the need for sustainable pricing, considering the long-standing burden on Nigerians. He noted Dangote’s family business legacy and urged him to balance profit with nationalism, patriotism, and empathy. Independent petroleum marketers hope Dangote Refinery will sell petrol at N600-N650/liter, potentially crashing…

Logistics expert Azubuike Ukwuoma advocates for the transformation of the oil and gas sector through innovative approaches. To achieve this, Ukwuoma recommends the “LOGIC” methodology, which redefines operational efficiency and sets new standards in the industry. During a presentation about his career journey and the development of the LOGIC methodology, Ukwuoma shared: “My fascination with the complex systems behind shipping and delivery services inspired me to pursue a career in logistics.” “The LOGIC methodology emerged from my experiences and the realization that a structured approach could significantly enhance operational efficiency.” The LOGIC methodology is based on five key pillars: Logistics…

Volkswagen (VW) is facing an ‘extremely tense’ situation, prompting severe cost-cutting measures, including potential factory closures in Germany for the first time. This move marks a significant turning point in the company’s efforts to combat increasing price pressure from Asian competitors. Chief Executive Oliver Blume is at odds with influential unions, setting the stage for a major confrontation. According to the works council, VW has deemed one large vehicle plant and one component factory in Germany obsolete, prompting a vow of ‘fierce resistance’ to the executive board’s plans. The company has announced the end of its job security program, in…

Business conditions in Nigeria’s private sector remained stagnant in August, according to the Stanbic IBTC Bank Purchasing Managers’ Index (PMI). Although new orders returned to growth, the rate of expansion was modest and insufficient to result in a rise in business activity, which fell slightly. However, employment continued to increase as companies worked through outstanding business at a faster pace. Companies continued to face sharply rising input costs, with the rate of inflation quickening since July. In turn, firms increased their own selling prices at a faster pace. The headline PMI ticked up to 49.9 in August from 49.2 in…

The former chief executive officer (CEO) of Airtel Africa Plc, Segun Ogunsanya, has been appointed as the board Chairman of the Nigeria Sovereign Investment Authority.He was officially inaugurated alongside other members of the board. by the Honourable Minister of Finance & Coordinating Minister of the Economy, Mr. Wale Edun at the Ministry of Finance Headquarters.This newly appointed Board comprises distinguished professionals from various sectors, carefully selected through deliberations and recommendations made by the Executive Nominations Committee. The final approval was given by the President, H.E. Bola Ahmed Tinubu, GCFR, following endorsement by the Vice President, H.E. Senator Kashim Shettima, GCON,…

During the Second Indonesia-Africa Forum in Bali, Indonesia, Nigeria’s Minister of Information and National Orientation, Mohammed Idris, represented President Bola Tinubu and underscored Nigeria’s dedication to deepening economic ties with Indonesia. The forum, held from September 1 to 3, 2024, brought together leaders from 22 African countries and five non-African countries to explore ways to enhance economic cooperation and address global challenges. Idris emphasized Nigeria’s eagerness to leverage shared strengths in areas like economic transformation, energy, mining, food and health security, and the digital economy to drive inclusive and sustainable growth. He noted that the Indonesia-Africa Forum marks a new…

The Nigerian Civil Aviation Authority (NCAA) has clarified that the United States Federal Aviation Administration (FAA) removed Nigeria from its Category One Status due to the absence of Nigerian airlines operating direct flights to the US for two consecutive years. This decision means Nigerian carriers cannot operate direct flights to US cities or airports until the country undergoes re-audit and re-certification by the USFAA. Nigeria initially earned the USFAA CAT One Status in August 2010 after a rigorous five-year process. However, a combination of factors, including a decline in standards and the lack of direct flights to the US for…

The Federal Competition and Consumer Protection Commission (FCCPC) has clarified that it has no plans to regulate food prices or control the market. In a statement, the Commission’s Director of Special Duties and Strategic Communication, Ondaje Ijagwu, emphasized that its recent directives aim to curb exploitative practices and maintain a competitive marketplace. The FCCPC responded to concerns from the Organised Private Sector and stakeholders regarding its directive to halt price gouging and price fixing. The Commission stressed that its role is to ensure fair market operations, not to control prices. “We categorically assert that prices are determined by supply and…

Vera Ndanusa, Executive Director of the Lagos International Trade Fair Complex, has announced that the forthcoming Lagos International Trade Fair will attract over 100,000 visitors from around the world. The event, which was relaunched after a 14-year hiatus, aims to enhance Nigeria’s economy by showcasing local and foreign businesses, fostering partnerships, and driving economic growth. Ndanusa highlighted the significance of the Fair, stating, “This year’s event will attract a vast array of participants, including business leaders, industry professionals, and consumers. The gathering will undoubtedly boost the nation’s economy and reinforce Lagos’ status as a major commercial hub in Africa.” The…

Huawei has announced a September 10 product launch event, mere hours after Apple’s iPhone 16 unveiling, fueling intense speculation and rivalry in the tech world. Richard Yu, executive of consumer and automotive technology, has teased the launch as “epoch-making,” hinting at a game-changing innovation. This strategic move challenges Apple’s dominance, as Huawei continues its resurgence in China, where Apple lost its top-five spot among smartphone vendors in Q2. Industry insiders speculate that Huawei’s launch could be a flagship smartphone or groundbreaking technology that disrupts the industry. Huawei’s confidence in its “epoch-making” product has generated significant buzz, with tech enthusiasts and…

The Standards Organisation of Nigeria (SON) has once again demonstrated its commitment to excellence by ranking second among 20 Ministries, Departments, and Agencies (MDAs) in the Presidential Enabling Business Environment Council’s (PEBEC) 2024 Half Year Transparency and Efficiency Compliance Report. With a score of 78.2%, SON trails only the Nigerian Content Development Management Board (NCDMB) at 80.1%, while the Nigeria Agricultural Quarantine Service (NAQS) ranks third at 74.8%. According to the report, MDAs have made significant progress in adhering to service level agreements (SLA) and advancing digitization efforts, despite bureaucratic challenges. The report highlights a positive outlook for efficient public…

The Nigerian Civil Aviation Authority (NCAA) has underscored the critical importance of cabin safety and the need for rigorous training and professionalism in the aviation industry. At the authority’s annual cabin safety workshop in Lagos, Acting Director-General Chris Najomo emphasized that every flight crew must possess skills in teamwork, effective communication, and other essential areas to promote air safety. Najomo, represented by Lagos Regional Manager Mrs. Bukola Teriba, noted that safety is a continuous process, and the industry’s high regulatory standards demand constant training and retraining. “Safety is our top priority, and we ensure continuous training to maintain ICAO standards,”…

Total Energies has awarded Angola’s SLB a contract to supply subsea production systems for Angola’s Kaminho deepwater project, enhancing oil output.In a significant move for Angola’s energy sector, SLB, a global leader in technology and services for the energy industry, has been awarded a contract by TotalEnergies for the supply of subsea production systems for the Kaminho deepwater project.This contract, granted to SLB’s OneSubsea subsidiary last month, marks a key milestone in the development of Block 20/11, located offshore Angola. The Kaminho project is set to become a cornerstone of Angola’s oil production capabilities.According to a statement, the contract entails…

The Edo State Ministry of Digital Economy, Science, and Technology, led by Commissioner Honourable Ogbeide Ifaluyi Isibor, has partnered with Intmax and Summit Systems ISSP to train top government officials on blockchain and cybersecurity. The capacity-building workshop, held on August 26, 2024, aimed to empower senior officials to leverage advanced technologies for economic development and digital transformation. Keynote speeches and lectures from partnering companies covered topics such as blockchain simplified for the public sector, tokenization, and cybersecurity. The initiative resulted in the signing of an agreement between the Ministry and Intmax, granting Intmax a significant role in working directly with…

Seplat Energy Plc, a leading indigenous energy company in Nigeria, reaffirmed its commitment to sustainability and climate action at the 11th Lagos Public Relations Stakeholders’ Conference (LaPRSC). The event focused on ‘Stakeholders’ Conversations on Climate Change and Environment: Communication and The Sustainability Agenda.’ Chioma Afe, Director of External Affairs & Social Performance at Seplat Energy, served as a distinguished panelist, emphasizing the need for tangible actions beyond dialogue to address the escalating climate crisis. Afe stressed that discussions must be complemented by concrete steps, such as engaging with government and the private sector to share ideas and execute plans. Afe…

The World Food Programme (WFP) and the Economic Community of West African States (ECOWAS) have launched a $1 million initiative to combat food crisis and malnutrition in North-West Nigeria. The programme provides multi-purpose cash and nutritious food to vulnerable populations, particularly pregnant women and children under two. At the launch of the ECOWAS-FMHAPA-WFP stabilisation project phase 2 in Katsina, WFP’s Deputy Head of Programme, Manuela Reinfeld, announced that WFP contributed $600,000 to the fund. The support includes therapeutic supplementary feeding, unconditional food assistance, and resilient building activities targeting women. Reinfeld emphasized that the initiative aims to address the root causes…

Dr. Chibuzor Onyema, President and CEO of the Blacks Ancestral Native Communities Foundation (BLANC), has announced a partnership with the ECO Centre for Africa, Canada, to combat the growing trend of illegal migration among African youths. Speaking at a recent news conference in Lagos, titled “Defusing a Ticking Time-Bomb,” Onyema emphasized the urgent need to address irregular migration, which threatens to undermine Africa’s development, destabilize nations, and erode societal fabric. The partnership will convene the Anti-Irregular Migration Summit, featuring keynote speaker Prof. Patrick Lumumba, to discuss actionable strategies for securing a brighter future for Nigeria, its people, and Africa. Onyema…

Nigeria’s Letter of Credit payments plummeted by 57.04% to $391.91m in the first seven months of 2024, compared to $912.35m in the same period last year, according to the Central Bank of Nigeria’s International Payments Data. This significant drop is attributed to factors such as the exit of multinationals, high customs duties, and foreign exchange instability, which have hindered Nigeria’s foreign trade. The data shows a decline of $520.44m in LC payments, with the highest payments recorded in February ($102.59m) and July ($79.65m). Analysts, including Tunde Amolegbe and Rotimi Fakayejo, cite the unstable exchange rate, customs clearing charges, and exit…

Former Vice President Atiku Abubakar has called for the immediate listing of the Nigerian National Petroleum Company Limited (NNPC) on the stock exchange, citing a lack of transparency in the recent handover of refineries to private operators. Atiku argued that listing the NNPC would enhance profitability, transparency, and corporate governance, as required by the Petroleum Industry Act (PIA). He criticized the current arrangement, saying it’s a “ruse” to make the NNPC appear private while remaining a government-funded entity. Atiku also questioned the independence of the NNPC, given its continued involvement in subsidy payments and political protection. The former vice president…

Former Ghana Institution of Engineering President, Prof. Charles Adams, emphasized the need for innovative and excellent leadership in African engineering institutions during the 6th Engineer Banagana Mohammed Distinguished Annual Public Lecture. He defined innovative leadership as a style that applies innovation and creativity to manage people and projects, inspiring productivity through new approaches. Adams highlighted the importance of engineering leadership in guiding teams to achieve technological feats, fostering collaboration, continuous learning, and innovation. He stressed that engineering leaders must not only solve technical challenges but also inspire and empower their teams to reach their full potential. Adams and Aji Ezekiel,…