Author: Idowu Bankole
By Peter Egwuatu The stock market faced bearish trends last week due to an increase in petrol prices, causing concern in the private sector about potential impacts on businesses. Economic reforms and government policies have yet to stimulate recovery and growth. The Nigerian Exchange Limited, NGX All-Share Index declined by 0.2%, with market capitalisation dropping over N83 billion. Profit-taking activities in Dangote Sugar, Zenith Bank, and WAPCO led to price decreases, triggering the ASI decline. Year-to-Date returns moderated to +29.0%, with trading volume and value falling. Various sectors experienced declines, except for the Oil and Gas Index which increased. Cordros…
By Dickson Omobola The mystery surrounding Nigeria’s daily consumption of petrol, known as Premium Motor Spirit (PMS), has taken a puzzling turn. After President Bola Tinubu announced the removal of the subsidy on May 29, 2023, consumption dropped to 30 million litres but quickly surged back to over 60 million litres. The sudden increase has been attributed to renewed smuggling across borders where petrol is sold at higher prices than in Nigeria. Previously, the price of petrol in Nigeria varied from N254 to N800 depending on the region. The uncertainty surrounding daily consumption has led to speculations and controversies, especially…
Amadeus Varsity Elevates Standards in Tertiary Education Abia State Government issued a stern warning to private tertiary institutions in the state, cautioning them against compromising academic standards. The directive was delivered by Commissioner for Tertiary Education, Prof. Eme Uche Eme, during a Stakeholders’ Forum at Amadeus University in Ikwuano Local Government Area. The Commissioner lauded the commitment of the Alex Otti-led administration to education, emphasizing the need for institutions like Amadeus University to uphold excellence in education. The university, set to commence operations soon, aims to provide a world-class educational experience with a focus on innovation, research, and community engagement.…
By Luminous Jannamike In a recent development, Dr. Usman Haruna Gambo, President of the Democratic Vanguard of Nigeria, criticized Labour Party’s 2023 governorship candidate, Gbadebo Rhodes-Vivour, for his bold statement about taking over Lagos State in 2027. Gambo condemned Rhodes-Vivour’s boast, pointing out the hypocrisy in the party’s response to Deputy Speaker of the House of Representatives, Rt. Hon. Benjamin Okezie Kalu’s similar statement regarding Abia State Governor Alex Otti rejoining the APC. Accusing Labour Party leaders, specifically House of Representatives member Obi Aguocha, of double standards, Gambo emphasized the biased and sentimental approach of the party. He called for…
Government Clarifies Misconceptions About New Education Policy Despite rumors circulating among the public, the federal government has not yet implemented its new education policy aimed at regulating the age of students taking senior school certificate exams and entering universities. Minister of State for Education, Dr. Yusuf Sununu, debunked the misconceptions while addressing reporters in Abuja during the 2024 International Literacy Day event. Dr. Sununu clarified that Minister of Education, Professor Tahir Mamman’s statement regarding restricting underage students from taking exams was misunderstood. The focus was on the minimum entry age for tertiary institutions, set at 18 years under Nigeria’s 6:3:3:4…
By Evelyn Usman Elections in Lagos State’s international markets, including Ladipo’s Aguiyi Ironsi International Market, are often marred by violence as election day approaches. Tensions run high in the market as the current election season reaches its peak. Tension History shows that Lagos markets have seen brutal clashes during elections, with dangerous objects being used to intimidate opponents. The recent introduction of membership cards for voting at Aguiyi Ironsi has stirred controversy, with the opposition group claiming disenfranchisement due to the new rule. The true position Chairman Onyebinama introduced the membership card system to ensure only genuine members vote and…
By Luminous Jannamike The Initiative for Credibility and Transparency in Governance (ICTG) has lauded the Presidency for its proactive measures in ensuring accountability within Ministries, Departments, and Agencies (MDAs). This commendation comes after the President’s Chief of Staff, Rt. Hon. Femi Gbajabiamila, conducted a tour of critical agencies. The tour was aimed at evaluating performance and pinpointing areas in need of improvement within key agencies such as NALDA, BPP, NAEC, NASENI, NFIU, NEITI, NEMA, and NAHCON. According to Dr. Ochonu Ochonu, the group’s coordinator, Gbajabiamila’s hands-on approach demonstrates the Presidency’s commitment to good governance and productivity. ICTG believes that these…