Author: Mary Osisanya-Bello

The Federal Government, through the Presidential Compressed Natural Gas Initiative and the Federal Ministry of Youth Development, has flagged off the distribution of 2000 CNG-Powered Tricycles to empower Nigerian youth.The flag-off event, held at the Old Parade Ground in Abuja on Tuesday, was part of activities to commemorate the 64th anniversary of Nigeria’s Independence.In his address, the Project Director of the Presidential Initiative on CNG, Michael Oluwagbemi, said the distribution of the tricycles marked the fulfilment of promises made by President Bola Tinubu to reduce the cost of transportation, enhance economic well-being, enhance the environment through the utilisation of clean…

Oando has attained status as Nigeria’s first IOC with $4bn valuation, expanding operations to the Sao Tome and Principe EEZ.With its operations outside the shores of Nigeria, around the Sao Tome and Principe Exclusive Economic Zone (EEZ), Oando Plc has now attained the status of Nigeria’s first indigenous International Oil Company (IOC).This, no doubt, attests to the enormous hard work put in by the forward-looking team at the company led by its Chief Executive Officer, Mr Wale Tinubu, who decades ago, seized the gauntlet and dived into the oil and gas business in Nigeria.A leading African exploration and production company,…

Emirates has resumed flights to Nigeria with Flight EK-783 landing on Tuesday, marking its first return after a two-year suspension.Emirates Airlines resumed its operations in Nigeria on Tuesday, marking the first time the UAE flag carrier has landed in Lagos in two years. Flight EK 783 touched down at Murtala Muhammad International Airport (MMIA) at exactly 3:32 pm, following a prolonged suspension due to unresolved issues, including the airline’s trapped funds in the country.The Boeing 777-300ER, which has a seating capacity of 392 passengers, arrived with many empty seats. Though the exact number of passengers onboard was not immediately available,…

The Bank of Industry has emphasised that Nigeria must enhance its production capacity to achieve a one trillion-dollar economy by 2026.The Divisional Head of Services, BoI, Isa Omagu, stated this on Saturday at the 2024 annual conference of the Finance Correspondents Association of Nigeria in Lagos with the theme, “Nigeria’s Journey Towards a $1 trillion Economy: Impact of Banks’ Re-capitalisation, Opportunities for Fintechs and Real Sector”.He noted that the country’s economy relied heavily on fiscal and monetary policies, urging collaboration between both sides.He also said that Nigeria’s current production levels were insufficient, warning against overreliance on imports if the country…

CBN Governor Cardoso has engaged with IMF and World Bank to develop strategies for inclusive growth and sustainable development in Africa.Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has engaged with the International Monetary Fund (IMF) and World Bank to develop actionable strategies to tackle issues of inclusive growth, sustainable development, financial inclusion, and climate resilience in Africa.Cardoso participated in the high-level Bretton Woods at 80 Forum, where he represented Africa’s interests on the global financial stage.He said the strategies will equip the continent to meet the demands of the present and future.The forum, organised by IMF…

The NSDC reported that the National Sugar Masterplan attracted $1bn in investments, creating over 15,000 jobs across five active project sites.The Executive Secretary/CEO of the National Sugar Development Council (NSDC), Mr. Kamar Bakrin, has said the Backward Integration Plan (BIP) under the first phase of the National Sugar Masterplan (NSMP) attracted $1 billion worth of investments.He said major investors also created over 15,000 permanent and seasonal jobs, and established cane processing factories with a total capacity of 18,000TCD in five active project sites among others.Bakrin disclosed this at a retreat organised for the House of Representatives Committee on Industry in…

The Federal Government of Nigeria has announced a plan to increase compressed natural gas infrastructure and cut transportation fares by over 40 per cent.This initiative was formalised during a Memorandum of Understanding signing ceremony in Abuja on Friday, which brought together key stakeholders, including representatives from the National Union of Road Transport Workers from Itakpe, Adavi, and Ajaokuta train station units in Kogi State.The Programme Director of the Presidential Compressed Natural Gas Initiative, Michael Oluwagbemi, emphasised the government’s commitment to affordable transportation amidst rising fuel prices.“We are working hard to bring transportation prices down, especially during these challenging times. Mr…

inDrive is celebrating a major milestone: the completion of 5 billion deals on its global mobility and urban services platform as of September, 2024. The landmark 5 billionth deal was sealed by a driver and passenger in Peru, marking a significant moment for inDrive since the company launched its innovative bid-based pricing model in 2012 with the goal of making ridesharing pricing fairer for both drivers and passengers.In the years that followed, inDrive has expanded its mission of challenging injustice and improving people’s lives by extending its innovative bid-based model beyond ridesharing. These services now include city-to-city and intercity transportation,…

According to the bank, it stands out for offering industry-leading employee benefits, including one of the longest standard leave days, a cost-of-living adjustment to help cushion the impact of economic changes, and a salary increase for its non-full-time equivalent employees.The bank said it provided access to a standard creche and a fully equipped gym for its staff, supporting work-life balance and physical wellness.The Managing Director and Chief Executive Officer of Wema Bank, Moruf Oseni, attributed those accolades to the bank’s strong commitment to employee welfare.“At Wema Bank, we understand that our exceptional output as a bank is a direct result…

At IFA 2024, LG Electronics launched its latest range of energy-efficient home appliances, designed to reduce power consumption and address Africa’s unique energy challenges.In line with the global push for sustainability, LG’s new appliances boast industry-leading energy efficiency, aligning with the African Union’s Agenda 2063 goal of transitioning to a green economy.“As a responsible global citizen, LG Electronics is dedicated to developing eco-friendly solutions, reducing carbon footprint, and promoting sustainable living in Africa,” said Oktae Kim, Product Director, Home Appliance Division, LG Electronics Nigeria. We will continue to leverage our advanced core technologies, including inverter and component solutions, to deliver…