Author: Ifetayo Adeniyi

Inflation drops from 34.80% in December to 24.48% in January due to rebasing – NBS Inflation drops from 34.80% in December to 24.48% in January due to Rebasing – NBS • Food index reduced to 26.08% from 39.84% • Inflation drops to 22.59% from 29.28% Following its rebasing, the Consumer Price Index (CPI) which measures the rate of change in prices of goods and commodities declined to 24.48 per cent year on year in January, the National Bureau of Statistics (NBS) has disclosed. This implied that the general prices of goods and services in the country declined compared to 34.80…

UBA Group Donates $500,000, Champions Peace in Africa – AU Peace Fund UBA Group Donates $500,000, Champions Peace in Africa • Efforts geared towards promoting security, conflict resolution, sustainable development and a unified Africa Africa’s Global Bank, United Bank for Africa (UBA) Plc demonstrated its commitment to fostering peace and stability across Africa with a landmark donation of $500,000 to the African Union (AU) Peace Fund. This donation by the UBA Group supports the AU’s efforts towards promoting security, conflict resolution, sustainable development and a unified Africa, as envisioned in the AU’s Africa Agenda 2063. The AU Peace Fund plays…

Dangote risked $23bn to build refinery – ‘…biggest risk of my life.’ Aliko Dangote Dangote risked $23bn to build refinery – ‘…biggest risk of my life.’ Billionaire Aliko Dangote has described his $23bn Dangote Refinery project as the “biggest risk” of his life, acknowledging the challenges he faced in bringing the venture to fruition. In an exclusive interview with Forbes on Monday, Dangote opened up about the risks involved in such a massive undertaking. “It was the biggest risk of my life. If this didn’t work, I was dead,” he said. Despite the refinery’s groundbreaking capacity of 650,000 barrels per…

Tariff hike: Airtel follows MTN, raises data, call rates Airtel Nigeria Tariff hike: Airtel follows MTN, raises data, call rates. Airtel Nigeria, the country’s second-largest telecom operator, has revised its data pricing structure, implementing a tariff adjustment of up to 50 per cent, according to details published on its website on Monday. The price revision, which affects various data bundles, aligns with ongoing industry concerns over escalating operational costs. While the company has yet to issue an official statement, the move underscores the broader push among telecom operators for a tariff review to cushion the impact of inflation and forex…

Abiodun gives his word on electricity, expect light 24-hour Governor Dapo Abiodun Abiodun gives his word on electricity, expect light 24-hour Ogun State Governor Dapo Abiodun has declared that an Independent Power Plant set to deliver uninterrupted 24-hour electricity to major parts of Abeokuta will be launched within the next eight weeks. The governor made this known on Monday after inspecting the 30-megawatt power plant located in Onijanganjangan, near Ewekoro. He noted that the project, developed in collaboration with private sector partners, marks the first phase of the Ogun State Light Up Project. Abiodun emphasised that the project aligned with…

Lagos Assembly passes vote of confidence on Meranda Lagos Assembly members Lagos Assembly passes vote of confidence on Lagos State House of Assembly members have passed a vote of confidence on the Speaker, Princess Mojisola Meranda to continue to lead the affairs of the House. Moving the motion on the floor of the House, a lawmaker representing Oshodi/Isolo 2, Oladipo Ajomale said that, the Speaker has been elected by the lawmakers and that they are confident that she is the perfect leader the House needs at this time. The vote of confidence was seconded by Aro Moshood, another lawmaker after…

Here’s Lagos police commissioner Moshood Jimoh Moshood Jimoh This – Moshood Jimoh has been appointed Commissioner of Police for the Lagos State Command by the Police Service Commission (PSC). The PSC’s Head of Press and Public Relations, Ikechukwu Ani, announced this in a statement on Monday. Below are five things to keep in mind about Jimoh: 1. He is a from Kwara State. 2. He had served as the Commissioner of Police at the Ports Authority for the Eastern Ports. 3. He had held several significant roles including Force Public Relations Officer, Deputy Commissioner of Police for Airport Police, Deputy…

NELFUND To Update System To Detect Dropouts In Record NELFUND To Update System To Detect Dropouts In Record. The Nigerian Education Loan Fund (NELFUND) says it is planning to update its system and students’ database to ascertain dropouts who still get its stipends. Its Executive Director of Operations, Mr Mustapha Iyal, said this at a news conference in Abuja on Monday. Iyal said, “What we’re aiming to do right now is to update our system. And part of the update that we’re doing presently is updating the students’ database. “This is because without the update, you don’t know who is…

Customs Set To Enhance Trade Activities Through Unveiling Of AEO Programme Customs Set To Enhance Trade Activities Through Unveiling Of AEO Programme In an effort to modernise trade facilitation, ease cost of doing business and enhance supply chain security, the Nigeria Customs Service (NCS), over the weekend in Lagos launched the Authorised Economic Operator (AEO) programme. The launch follows a successful pilot phase in April 2024 involving six companies. Speaking at the event, Comptroller General of Customs, Adewale Adeniyi announced that the AEO registration portal would open on February 17 for eligible companies. He highlighted the remarkable success of the…

Nigerian Breweries Beats N1trn Mark in Revenue, 2024FY Nigerian Breweries Beats N1trn Mark in Revenue, 2024FY Nigerian Breweries Plc, has released its audited group financial statements for the financial year 2024, recording an unprecedented and impressive revenue of N1.1 trillion. This represents a massive 81per cent increase on the N599.6 billion recorded in the corresponding period in 2023. A further breakdown of the audited results revealed a significant 51per cent growth in group gross profit from N212.6 billion in 2023 to N320 billion in 2024. The operating profit equally grew significantly by 59per cent from N44 billion to N70 billion…