Author: Aishat Olalere

Lagos State Ministry of Works and Infrastructure has began training of 60 engineers on bridge construction. The theme of the training is “Bridge Building: From Theory to Practice”, will focus on practical application of knowledge. The training began on Thursday, 20th of June. The training is a three-day training that will take place at the Public Service Development Centre, Magodo, Lagos State. The aim of the training is to enhance the skills and expertise of engineers in bridge and road constructions. The News Agency reports that the training covers various aspects of bridge building such as design, construction, and maintenance.…

The Niger Delta Development Commission (NDDC) have sealed a collaboration with African Export-Import Bank (Afreximbank) over the infrastructural development and economic growth of Niger-Delta. This was disclosed in a statement made by the Commission’s Director of Corporate Affairs, Pius Ughakpoteni, on Thursday in PortHarcourt at the Afrexinbank Annual General Meeting (AGM). Pius said this is part of the NDDC’s strategic planning to involve development partners in the advancement of the Niger Delta. “Discussions revolved around the strategic and operational leadership required for implementing the bank’s intra-African and industrialisation objectives to support the Africa Continental Free Trade Agreement (AFCFTA),” he said.…

Credit Bureau Limited, Nigeria foremost credit company, reported Nigeria credit penetration to have risen to 14 percent. This was disclosed during the Company’s CRC Finance and Credit Conference 2024 in Lagos on Wednesday. The theme of the conference was titled ‘Sustainable Financing Options: Innovations in Credit Risk Management’. The conference also serves has a celebration of the 15th anniversary of the company. The Group Managing Director/CEO of CRC Credit Bureau Limited, Dr Tunde Popoola, said that Nigeria had achieved a significant improvement in credit penetration in the last 15 years of its existence. Popoola added that “only 33 million  Nigerians…

Nigeria and Ghana have been announced as the representatives of Africa at the prestigious Scripps National Spelling Bee. This was announced by the Chief Executive officer of Young Educator Foundation, Mrs Eugenia Tachie-Menson, in a statement made available to the newsmen on Thursday in Abuja. The competition is to test student competence in spelling and vocabulary prowess. Ghana, reportedly, has been Africa’s representative for about two decades. Eugenia said that the foundation in collaboration with Lucid Education Initiative, Nigeria, facilitated for Nigeria to join the representation. She added that this collaboration aims to ignite a passion for spelling and literacy among Nigerian…

Nigeria Custom Service revenue has increased by 74 percent from June 2023 to May 2024. The revenue of the Nigeria Custom Service increased to ₦4.49 trillion in May 2024. This was announced on Wednesday by the Comptroller-General of Customs, Adewale Adeniyi in Abuja while accounting for NCS performance over the year under his stewardship. Adewale Adeniyi was appointed by president Bola Ahmed Tinubu as the comptroller-General of the Nigeria Custom service. “The NCS reported a remarkable 74 per cent growth in revenue collection over the past year, recording a total revenue collection of N 4.49tn between June 2023 and May…

Namibia’s central bank has announced its monetary policy rate steady at 7.75%. The monetary policy committee made the decision on Wednesday to keep its key lending rate steady for sixth consecutive meeting. The interest rate has been stable since April 2019. The decision was made in the interest of borrowing and investment. According to the policy maker, Namibia Central Bank’s decision was intended to safeguard the peg between the Namibian Dollar and the South African Rand, while also supporting the domestic economy. Get instant and latest news updates via Our WhatsApp Community or Google News online channel.

The average retail price of a litre of petrol has increased from ₦238.11 in May 2023 to N769.62 in May 2024. The National Bureau of Statistics (NBS) made this declaration in its Petrol Price Watch for May 2024, released in Abuja on Wednesday. This shows a 223.21 percent increase in the price of petrol from May 2023 to May 2024. It was also analyzed that there has also been a 9.75% increase in price of petrol from April 2024 to may 2024. “Conversely,  Lagos, Niger and Kwara paid the lowest average retail price at ₦636.80, ₦642.16 and ₦645.15, respectively,’’ it stated.…

The Federal Government has licensed 17 deep offshore oil blocks to the 2024 Licensing round for oil field in Nigeria. This is in addition to the deep offshore blocks recently put on offer for the 2022/2023 mini-bid round and other blocks which cut across onshore, continental shelf and deep offshore. The Chief Executive Officer, Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, disclosed this at the pre-bid conference for the 2024 licencing round in Lagos on Tuesday, 18th of June. He said, “In pursuit of the commission’s commitment to derive value from the country’s abundant oil and gas reserves and increase…

Modular refineries owners have announced the commencement of discussion with African Export-Import bank over assessment of $18 billion loan. The loan is to be issued for the development of refineries in Nigeria and other African countries. This is as a result of the financial assistance rendered by the bank to Dangote Petroleum Refinery which now produce domestically and for export. The operators, who spoke under the aegis of Crude Oil Refinery Owners Association of Nigeria, commended the Afreximbank for supporting Dangote Petroleum Refinery when the plant was being constructed. “Some of us are already talking with Afreximbank, but none of…

The Nigerian Exchange (NGX) All Shares equity market index trended positively as it gained 0.19%. Alpha Morgan Capital Limited reported this at mid-day following the intraday trading session on Wednesday after the strong buying of companies. Transcorp Plc shares gained above 3%, GTCO gained above 1.90%, Accesscorp gained 1.88%, Zenith bank gained 0.56%, UBA gained 0.22% and others. Stockbrokers said the upward trajectory is majorly attributed buying interest in some high capitalized banking and non-banking stocks. Get instant and latest news updates via Our WhatsApp Community or Google News online channel.