Author: Mary Osisanya-Bello

The African Union (AU) has unveiled key strategies and policies to transform the world of work, focusing on the social economy, youth employment, fair recruitment, and minimum wage. Through its partnership with the International Labour Organization (ILO), the AU has made significant strides in promoting social justice and employment opportunities across Africa. The AU has adopted the AU-ILO Youth Employment Strategy and the Fair and Ethical Recruitment Strategy for Africa, in addition to the Social Solidarity Economy Ecosystem. These initiatives aim to promote fair distribution of resources, equality, and social justice, while giving voice and agency to the underprivileged. The…

The Nigerian Solidarity Support Fund (NSSF) has launched the “Ignite Campaign”, a groundbreaking initiative aimed at training and mobilizing one million young Nigerians as healthcare advocates by 2029. The six-month campaign, which kicked off on July 15, began with the training of 3,000 youths, marking the starting point of NSSF’s ambitious journey to empower young people in healthcare advocacy. According to Dr. Fejiro Nwoko, Managing Director/CEO of NSSF, “The Ignite Campaign represents a crucial step in our strategy to create a healthier Nigeria. By engaging and training 3,000 young Nigerians, we are addressing the immediate need for healthcare advocacy and…

The Dangote Refinery has refuted claims made by some oil marketers that it plans to sell petrol at N600-N650 per liter. In a statement released on Tuesday, the company’s Group Chief Branding and Communications Officer, Anthony Chiejina, clarified that Dangote Refinery has not engaged in any discussions with marketers regarding petrol pricing. The statement was in response to reports that the Independent Petroleum Marketers Association of Nigeria (IPMAN) had speculated about the refinery’s pricing plans. Dangote Refinery emphasized that IPMAN is not a business partner and has no authority to speak on its behalf. “We have not fixed a price…

The Bank Directors Association of Nigeria (BDAN) has expressed strong reservations about the proposed 70% windfall tax on foreign exchange transaction profits, deeming it excessive and ill-timed. In a statement after their board meeting, BDAN acknowledged the government’s intentions but raised concerns about the tax rate’s magnitude, timing, and implementation ambiguities. BDAN Chairman Mustafa Chike-Obi stated, “The 70% tax rate is burdensome and ill-timed, particularly during bank recapitalization efforts. It may stifle growth, innovation, and service quality, ultimately affecting the broader economy.” He emphasized the need for stakeholder consultation and open dialogue to ensure equitable and effective policies. The association…

Following the recent nationwide hunger protests, Kaduna has witnessed a significant surge in food prices and cooking gas. A News Agency of Nigeria correspondent’s market survey on Monday revealed steady price increases across various food items, including provisions, grains, and staple foods. The prices of essential commodities like rice, beans, yams, garri, and noodles have risen for the fourth time this year alone. For instance, a kilogram of cooking gas now costs N1,400, up from N1,100-N1,120 in July. At the Sheikh Abubakar Gumi market, a 50kg bag of foreign rice increased from N79,000 to N86,000-N90,000. Other price hikes include yams…

The Nigerian equity market began the week on a negative note, with the All Share Index declining by 0.72% to 97,881.75 points. This moderated the market’s year-to-date return to 31.87%, month-to-date to 0.16%, and week-to-date to -0.72%. Market capitalization ended at N55.58 trillion, with investors trading 498.27 million shares in 10,645 deals, valued at N11.77 billion. Despite the overall downturn, market breadth closed positive, with 29 gainers outpacing 23 losers. Julius Berger Nigeria led the gainers, surging 10% to N121.00 per share, followed by National Salt Company (10%), Total Nigeria (9.98%), and Oando (9.98%). On the losing side, BUA Cement…

Prestige Assurance Plc has reaffirmed its commitment to expanding its retail business, aiming to reach a wider customer base and drive growth. Managing Director/CEO Rajesh Kamble announced this at the company’s 54th annual general meeting in Lagos. Despite a challenging operating environment, Prestige Assurance reported a profit before tax of N1.40bn for the 2023 financial year, up from 2022. Kamble outlined the company’s strategic focus on retail businesses, including developing new products tailored to the retail market, building stronger customer relationships, and leveraging digital platforms. He emphasized the importance of adaptability, cost-consciousness, and innovation in responding to emerging trends and…

Centre Point Hall was abuzz with excitement and nostalgia as MTN executives, staff, and distinguished guests gathered to bid farewell to outgoing Chief Operating Officer, Hassan Jaber, after an illustrious 29-year career. Jaber’s remarkable journey with MTN began in 1998 as IT Manager at Spacefon (now MTN) in Accra, Ghana, where he played a pivotal role in shaping the company’s technology strategy. He went on to lead MTN’s IT departments in Benin and Liberia, before serving as Chief Information Officer in MTN Yemen and MTN Syria. Jaber’s leadership prowess took him to the helm of MTN operations in Guinea, Sudan,…

Olam Agri, a leading agribusiness, has committed to a four-year development plan, investing approximately ₦6.5 billion in corporate social responsibility and sustainability initiatives. These initiatives aim to drive socioeconomic growth in communities where Olam Agri operates, focusing on five key areas: supporting farmers, enhancing education and skill development, economic empowerment of women, promoting health and nutrition, and reducing carbon emissions. The investment is part of Olam Agri’s award-winning Seeds for the Future program, designed to foster a brighter future for all. The expanded commitment will support sustainable development across Olam Agri’s business portfolio from 2024 to 2028. In 2024, Olam…

Amo Farm Sieberer Hatchery Ltd., pioneer of the innovative Noiler birds, launches Noiler City to combat soaring food prices. This initiative responds to the National Bureau of Statistics’ report of a 54% increase in egg prices and an additional 50% rise since January 2024. Noiler City aims to provide urban residents with a reliable and affordable source of protein. Dr. Ayoola Oduntan, Group Managing Director, expressed enthusiasm for the project, stating, “We’re excited to launch Noiler City, empowering urban residents to control their food supply and address escalating costs.” The Noiler City Package offers a comprehensive solution for urban poultry…