NEWS MIRROR

By Akinola Ajibade Bread may cost  N1000 per loaf, in the event that the Federal Government fails to revisit the issue of using Cassava flour for bread making. The price of the product may increase further, if the government refuse to wade into the matter. This happens, as the country faces food crises due to bad economy, poor production of agricultural products, attacks on farmers, insecurity among several problems. Bread, which hitherto sold  for N200, N350, N400 and N500 loaf, according to the association,  now attracts  N600,N700 and N800. The price, according to the Finance and Business Online Publishers (FiBOD)would move up soon, if the government fails to provide alternative for bread making, as the war between Russia and Ukraine persists. Russia is one of the major producers of wheat in the world and that the war has affected the importation of wheat to Nigeria and other countries globally. At its recent recent monthly review of the economy, the a...

By Akinola Ajibade Oromidayo, a civil engineering student of Ibadan  Polytechnic is dead. He died hours after engaging in a marathon sex with her partner, also a student in the school. Both students went home, after the cancellation of their examination by the authoritie s  of the school.  Oromidayo's  partner was simply identified as Aramide. Reliable sources said that both students took sex-enhancing drugs and afterwards engaged in 11 rounds of sex, a development, which resulted in the death of Oromidayo, while her girl friend is battling to survive at University College Hospital ( UCH) Ibadan, where she was  medically said that she has  less than five per cent of survival. Oromidayo was found dead in the room, while Aramide  was barely alive in the hospital, according to reports. Meanwhile, Aramide’s friends have been unable to reach her parents as they couldn’t find her phone, and no one has her parents’ contact details.

Total exits stakes in NNPC, Shell Ventures By Akinola Ajibade  TotalEnergies has launched the sale of its 10 per cent stake in Nigerian joint venture Shell Petroleum Development Company, SPDC, with Canada’s Scotiabank leading the sale as financial adviser, a sale document tendering for interest showed. Though Scotiabank declined to comment on the exercise TotalEnergies earlier announced the sale in late April. TotalEnergies declined to comment on the financial adviser. TotalEnergies confirmed it was selling its interest in 13 onshore fields and three in shallow water, producing over 20,000 barrels of oil equivalent per day. The sale includes infrastructure such as 3,500 km of pipelines connecting to two key crude export terminals, Bonny and Forcados. The French company will keep OMLs (oil mining licences) 23 and 28 and its interest in the associated gas pipeline network that feeds Nigeria LNG. Big oil companies have been progressively exiting Nigeria’s onshore production due t...

By Akinola Ajibade The Economic and Financial Crimes Commission ( EFFC) has arrested the  Accountant-General of the Federation, Mr Ahmed Idris in connection with money laundering and diversion of public funds. The anti-graft agency's boss is believed to have been arrested in Kano and thereafter flown to Abuja, the nation's capital for interrogation. EFFC's spokesman, Mr Uwujaren confirmed the arrest in a statement that the Operatives of EFCC has on Monday ( May 16th this year,  arrested a  serving Accountant-General of the Federation, Mr Ahmed Idris over diversion of funds and money laundering activities to the tune of N80billion. The revealation was subsequent to what a top official of the Commission told the News Mirror in confidence about the issue. Prior to this period, EFFC in a report,  has for sometime now been investigating a case of diversion of at least N80 billion in public funds which was allegedly laundered through some bogus contracts. The f...

Nigeria will generate $420m annually from onion exports By Akinola Ajibade Nigeria would generate  at least $420 million yearly,  from onion exports, once there is value addition to the product, the President,  National Onion Producers, Processors And Marketers Association of Nigeria (NOPPMAN), Alhaji Aliyu Isah Maitsasumu has said  This is coming on the heels of the decision by the country to position itself in the global map of onion exporting countries and  encouragement of repatriation of foreign exchange back to Nigeria, which the association is spearheading. Speaking during the National Executive Meeting ( NEC) of the association in Abuja recently, Maitsasumu said that Nigeria has a lot of revenues to generate from onion planting and exportation, if its adopt and implement the eight approach. He urged both states and federal government as  to facilitate enabling environment for the association,saying the development will go a long way for the NOPPMAN ...

By Akinola Ajibade The murder of Deborah Samuel, a student of a college in Sokoto state has continued to generate controvery as human rights activists and educationists describe it as gruesome. Recently, an economist and former Managing Director, Volkswagen Nigeria' Limited, Prof Pat Utomi, in a clear time, described the killing of the female student as a deep wound in the soul of Nigeria. Deborah was killed over alleged blasphemy in the premises of a college after she was accused of insulting the prophet Muhammad (SAW) during a hot argument with her colleagues during school hours. Utomi, in a statement he personally signed and Titled, “A TIME TO LEAD”, blamed the current insecurity bedevilling the country on a lack of worthy leadership.  He noted that Nigeria is truly at a crossroads and anyone who fails to take a stand is not worthy of the people. He said, “The incidents in Sokoto in the last two days have opened a deep wound in the Soul of our country. The only thing...

By Akinola Ajibade The Committee for the Defence of Human Rights (CDHR) has expressed concerns over the lingering strike actions embarked upon by the Academic Staff Union of Universities (ASUU), describing the issue as worrisome in the Nigeria''s education system  The body, however,  urged the federal government to put an end to the action without unnecessary delay. CDHR’s concerns is contained in a communique, signed by the National Publicity Secretary of the committee, Comrade Idris Afees Olayinka and  made available to National Association of Online Security Reporters (NAOSRE) in Lagos. The communique read in part: “The incessant shutting down of Nigerian University System is not only killing the nation’s education quality and standard but also crippling the nation’s growth and development. “It is no more news that the Academic Staff Union of Universities poised in raising the standard of nation’s education and making it a reference point, engaged the feder...

By Akinola Ajibade Nine financial institutions have increased their   Non-Performing Loans(NPL) from N789.14billion to N814. 08billion.  The rise in the  non-performing loans of the banks was recorded between 2020 to 2021, according to findings by the PUNCH.  The banks are Access Holdings Plc, Zenith Bank Plc, Wema Bank Plc, FCMB Group, Union Bank of Nigeria Plc and Stanbic IBTC Holdings Plc.  Others are Guaranty Trust Holding Plc, United Bank for Africa Plc, and Ecobank Nigeria.  However, with the banking sector’s NPL ratio closing 2021 at 4.85 per cent, some of the nine banks remained within the five per cent NPL ratio stipulated by the Central Bank of Nigeria. Further findings also show that while some of the banks recorded an increase in their NPLs during the period under review, a number of them recorded a significant decline in their NPLs. From the banks’ audited 2021 financial statements, findings showed that Access Holdings, Zenith ...

No fewer than five employees of the Ngerian Aviation Handling Company Plc (NAHCO) and a staff of Skyway Aviation Handling Company Plc (SAHCO) are going to be remanded for allegedly conspiring to import 886. 85 kilograms of Tramadol. The NACHO officials, who were arraigned by the National Law Efforcement Angenvy( NDLEA) on Thursday are ; Yunana Fidelis, Nyam Gazu Alex, Fasoranti Shola, Adesanwo Temitope and Owoseni Taiwo Temidayo. While the SAHCO staff arraigned with them is, Ifijeh John Mowa. They would remain in the Nigerian Correctional Centre pending the determination of their bsil request, which was fixed for May 19 by the presiding judge  Justice Lewis Allagoa. Specifically,the anti-narcotic agency slammed the defendants with five count charge  of conspiracy, unlawful possession and transportation of the said prohibited narcotic analgesic. NDLEA prosecutor, Mr. Abu Ibrahim,  told the court that the first defendant, Yunana Fidelis, on March 14, 2022, at the Murtala Mu...

By Akinola Ajibade Brighter days are ahead of thousand of communities acros the country, as the Rural Eradication Agency ( RAE)[ and the thirty state governor are collaborating on how to boost supply of electricity in the country, the Managing Director/Chief Executive officer ,Ahmad Salihijo Ahmad gave this indication recently  He spoke during  a  workshop organised by REA in conjunction with the African Clean Energy Technical Assitance Facility (;AGETAF);and the Nigeria Governors Forum in Abuja . He said that the collaboration would. help in fast-, tracking the approval and other associated permits, providing  data of unserved & underserved communities within the States,. Others he said, include creation of  an enabling environment for private sector developers and providing an interface between the REA, the states and the developers towards ensuring the sustainability of projects in their states. The workshop served as a platform for the REA to convey its ...

The Major Oil Marketers Association of Nigeria ( MOMAN), has attributed the current scarcity of petroleum products in the country to global issues, not local,as  many Nigerians were made to understand. The body, an umbrella association of non-, independent fuel marketers in the country, is made up of 11 Plc, formerly Mobil Nigeria Limited,  Forte Oil, now Ardova , Conoil, OVH( Oando Marketing) , Total Energies Nigeria among others. In a statement issued, signed and made available to News Mirror, yesterday by the MOMAN's Chairman, Mr Olumide Adeosun, the group blamed the scarcity of petroleum products on  rising prices of fuel at the international level, Russia-Ukraine crises among others,. He said that the scarcity of specific petroleum products,  especially Aviation Fuel, is having untold effects on that sector of the economy. This happens as Arik Air, Dana Air and two others pulled out of the planned strike actions, which is being organised by the airline operators...

EEDC's delegates to the Commission  NERC commends Enugu Electricity Distribution Company on transformation By Akinola Ajibade The Nigerian Electricity Regulatory Commission ( NzERC) has commended the Enugu Electricity Distribution Company (EDCC)  for efforts made in  sustaining and actualising tits  transformation agenda. The Commission said that the idea has resulted in efficiency and productivity in the company  NERC through its Chairman, Sanusi Garba gave the commendation when the management of Enugu Electricity Distribution visited the Commission in Abuja . EEDC's delegation was led by its Chairman, Sir Emeka Offor in company of other directors of the firm. Othher members of the delegation includes the Managingg Director/ Chief Executive officer of the compan, Mr Praveen Choghade Executive Director, Business,  Fiance and Administration, Mr Paul Okeke, Chief Technical officer, Engineer Vincent Ekwekwa among others  At the event, the NERC...

 By Akinola Ajibade  Ekiti state governor and presidential aspirant of the All Progressives Congress (APC), Kayode Fayemi, has  denied allegations that he betrayed  Asiawju Bola Tinubu, by declaring to contest for the presidential election in 2023. He spoke in Abuja during an interview with Channels Television Politics. According to him, nobody has solely claim the office of the President, stressing that it is not an inheritance of anybody. Fayemi, who is also the Chairman of the Nigerian Governors Forum (NGF), said that he and Tinubu are jostling for the ticket of APC and that it would  be wrong for anybody to accuse him of betrayal. Recall that Tinubu,who is the  APC National Leader had on January 10 declared his intention to become Nigeria’s President after meeting with President Muhammadu Buhari at the presidential villa. But the Ekiti State Governor, who is seen by many as being a beneficiary of Tinubu, said the ambition of APC presidential...

By Akinola Ajibade Nigeria is trailing behind Angola in the list of countries in  Africa that would witness an increase in cumulative capital expenditures by up to $23billion, this year, the African Energy Chamber's (AEC) Q1 report  has said  The report  is themed: 'The State of African Energy. In the report,  countries which participate in upstream activities are going to scale up investments in the upstream segment of the oil and gas industry. It listed the countries to include Angola, Nigeria', Mozambique and Uganda. According to the report, Angola is well positioned to increase investmentts in oil  Exploration and Production ( E&P) ahead of Nigeria''s, which currently battling with problems such as oil theft, pipeline vandalism, banditry among many others  The report  stated that Greenfield investments in Angola and other leading and emerging hydrocarbon producing countries in Africa will help increase cumulative capital expend...

By Akinola Ajibade Stakeholders in the maritime and other sectors of the economy are rooting support for political parties ahead of the 2023 general election in the country. One of such groups is  the National Association of Government Approved Freight Forwarders (NAGAFF).  The group in a statement made available to the News Mirror recently said that it would  mobilize millions  iNgerians  to support the presidential candidate of the  New Nigeria Peoples Party (NNPP), Dr. Rabiu Kwakwanso. The group further  said that it would  mandate ten million members to  commence house-to-house mobilisation exercise for the ANPP presidential candidate in order to ensure that the party wins the highest elective office in Nigeria, come 2023. The statement read in part, “It has become obvious that the largest freight forwarding and logistics business organisation in Nigeria shall be throwing her weight in support of Dr Rabiu Musa kwakwanso for th...

By Akinola Ajibade Lekki Seep. Sea Port will provide a total revenue of over $ 201 billion in 45 years for Federal and Lagos state governments when it is operational,  the Minister of IInformation, and Culture, Lai  Mohammed has said  The Port will generate revenues in firm of taxes and royalties to the Federal and stare government respectively  He stated this in Lagos when he undertook a tour of the $1.53 billion mega recently. He was accompanied by heads of parastatals under the Ministry of Transportation on the tour. According to him, the quality of work done at the Port is great,assuring that the port would become operational in the last quarter of 2022. He said when the Port is fully operational, it would  create 169,972 jobs in addition to the $201 billion that will be generated to Lagos State and the Federal Government through taxes, royalties and duties. The direct and induced business revenue impact is estimated at $158 billion in addition to a qualitat...

By Akinola Ajibade Nigeria needs about N60 billion annually to import palm oil in order to meet the needs of Nigeria, the  Central Bank of Nigeria (CBN)has said.  Palm oil is an edible vedetable oil  that comes from the fruits of the palm trees. Domestically, palm oil is consumed by many Nigerians until few years ago, when it was replaced in many homes by oil made from fatty substances. Speaking on the issue, the Governor, Central Bank of Nigeria ( CBN), Mr Godwin Emefiele said that a total sum of over  N45.03 billion had hitherthoo been disbursed to stakeholders in the oil palm industry to aid the cultivation of about 31, 442 hectares to further grow the commodity,the bank’s Governor,  He explained that the apex bank’s intervention would help unleash the potential of the oil palm value chain with requisite support for the economic diversification plan as well as the industrialisation aspiration of the country. He added that the importation demand was expected t...

By Akinola Ajibade Nigerians are going to witness increase in the cost of recharging their phones and reduction in the call rates, if the operators of Global System for Mobile Communication ( GSM) acquieze to the demands to increase tarrifa by 40 0er cent . The operators include MTN, , Glo, Airtel and 9 Mobile.  Also to be affected are users of mobile phones and  data. This is coming on the heels of the recent increase in the cost of tarrifs by the Nigerian Electricity Regulatory Commission ( NERC), coupled with  the planned increase in the pumping priicr of Premium Motor Spirit ( PMS) by the Federal Government after it might have removed subsidy paid on fuel.  The  Association of Licensed Telecommunication Operators of Nigeria gave this advice recently, while examining the state of the economy in Nigeria. The association, while advocating a 40 per cent increase in the cost of calls, SMS, and data to the Nigerian Communications Commission...

By Akinola Ajibade Nigeria's search to get a replacement for fertiliser market has paid off, as the country coughed out huge amount of money to buy Canadian Potas, to grow its farm products. This happens, as Nigeria lis unable to import key fertilizer from Russia due to sanctions imposed on the country  and its subsequent negative impacts on importation of the product. Russia used to  be the biggest supplier of fertilizer to  countries across the world, including Nigeria before its war to Ukraine started months ago  The Nigeria’n  Sovereign iInvestment Authority NSIA  corroborated this assertion recently, when its said that fvs country  can now get Potash from Canada to grow its agriculture.  Canadian potash is expected  to  arrive the country during raining season, which starts as early as end-May in some parts of Nigeria to prevent the country from slipping into a major food crisis.  The Head, NSIA, declined to comment...

By Akinola Ajibade Eight bodies were do far  recovered from the collapsed building at Ebute-Metta in Mainland Area of Lagos state, at the time of filing this report  This happens, as relations and passers- by in the area are counting huge losses suffered by the occupants of the building. While many described the incident as tragic, others said that the occupants may not able to easily  recover from the incident..  Coupled with this is the fact that many people, who are living around where the incident occurred  are asking humanitarian agencies and the state government, to help the victims with funds in order to start a new life. The house, which  is located at 24, Ibadan Street, Off Herbert Macaulay Way in the area has been  attracting  people from far and near since Sunday Night, when the incident happened. The News Mirror' gathered that at least eight people( five males and three females) have lost their lives since Sunday when the b...