Some passengers of the Bus Rapid Transit in Lagos State, have commended the state government for giving them succour as the seven-day 50 per cent fare slash on state-run buses started Friday. The passengers spoke with the News Agency of Nigeria in Lagos as Nigerians continued to face the cash and fuel scarcity gripping the country, which necessitated the state government’s action. A passenger who boarded the BRT to Lagos from Costain, Mr Jude Samuel, appreciated Gov. Babajide Sanwo-Olu for giving them relief when they needed it most. Samuel said he was happy to pay N200 to CMS instead of N400. Another…
Author: Elvis Eromosele
By Elvis Eromosele The amount of queueing Nigerians have been subjected to in the last couple of weeks is unprecedented. It is equally unbecoming. It’s almost like the country had gone back four decades. Fights have broken out in queues at bank facilities, filling stations and INEC and LGAs offices across the country. There are trending videos of people stripping naked in protest inside banking halls, others hitting each other with queue dividers and one person has been confirmed dead inside a banking hall, somewhere in Asaba. Nigerians born in the 2000s, GenZs, should be forgiven for thinking the end…
…Nigeria lagging behind in cancer diagnosis, treatment, and survival rates. As Nigeria joins the rest of the world to commemorate the 2023 World Cancer Day (WCD), a group of cancer advocates has called for the timely release and full implementation of the cancer treatment fund. The advocates made the call on Saturday during a march to mark this year’s Cancer Day. The walk was organised by Project Pink Blue in partnership with other advocates. Speaking immediately after a 5km walk, Gloria Orji, the President, Network of People Impacted by Cancer in Nigeria (NEPICIN), said Nigeria bears a very high burden…
Elon Musk, Twitter owner, has announced that the platform will start sharing revenue from advertisements with some of its content creators with effect from Friday, February 3, 2023. Mr Musk noted that the new revenue-sharing will be open to subscribers of Twitter Blue Verified. In December last year, the company announced the relaunching of its monthly blue subscription. The initiative was announced a month after the company halted the service just days after its rollout. The company had earlier in November 2022 announced that the platform would charge users $8 monthly for its blue verification mark. Days after its rollout,…
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) last week awarded licences to investors to enable the country to take advantage of its vast gas deposit, almost seven years after the Muhammadu Buhari-led administration commenced Nigerian Gas Flare Commercialisation Programme (NGFCP). Gbenga Komolafe, Chairman, NUPRC, said the award of licenses Coming at a time of energy crisis and transition and on the backdrop of the government’s decade of gas policy, the development seeks to tame decades of gas flaring in the oil-producing region and enable the federation to generate billions of dollars in investment and signature bonuses. He said the initiative…
By Elvis Eromosele Almost everyone has stories of someone who has made or lost tons of money from sports betting. A simple internet search will throw up tons of examples. There is the story of a popular Senior GP in the UK who was jailed three years for stealing £1.1m within a space of 3 weeks due to online gambling addiction. There is a block of four flats, off Ikotun Igando Road, that the rumours indicate was built from the proceed of sports betting success. The stories, whether of gain or pain, are endless. Experts point to the increase in…
Presco Plc (PRESCO) published its Q4-22 unaudited financials Tuesday, reporting a standalone EPS of NGN3.48 (Q4-21: NGN5.09), underpinned by a sharp uptick in net finance cost (+5736.7% y/y). For 2022FY, the EPS settled at NGN21.47 (2021FY: NGN19.32), recording an increase of 11.1 per cent. PRESCO’s revenue grew by 218.3% y/y in Q4-22 (2022FY: +75.1% y/y), driven by a sustained increase in Crude Palm Oil (CPO) production volumes. Sequentially, on a quarter-on-quarter basis, revenue grew by 136.3 per cent. Gross margin contracted by 15.74ppts to 43.6% in Q4-22 (Q4-21: 59.3%), influenced by the significant growth in the cost of sales (+341.5%…
Photo Caption: L-R: Uto Ukpanah, Company Secretary, MTN Nigeria; Ralph Mupita, MTN Group CEO & President; Temi Popoola, Chief Executive Officer, Nigerian Exchange Ltd; Dr Ernest Ndukwe (OFR), Chairman, MTN Nigeria; Kamarudeen Oladosu, Director, Nigerian Exchange Ltd; Karl Toriola, Chief Executive Officer, MTN Nigeria and Modupe Kadri, Chief Financial Officer, MTN Nigeria at the NGX Closing Gong Ceremony, which held at NGX Building, Lagos on January 31, 2023. MTN Nigeria Communications Plc (MTNN), leading telecoms services giant, has published its Q4-22 audited results showing a standalone PAT of NGN89.84 billion (Q4-21: NGN78.34 billion). Consequently, the EPS stood at NGN4.41 (+14.7%…
The Independent National Electoral Commission (INEC) has disclosed that about eight hundred thousand Permanent Voter’s Cards (PVC) are yet to be collected in Oyo State. the commission made this disclosure on Wednesday. Resident Electoral Commissioner (REC), in the state, Dr. Adeniran Tella, while speaking during a stakeholders meeting on the Mock Voters Accreditation/Verification Exercise, said that the PVCs are still in their various offices for collection. At the meeting held at the INEC office in Ibadan were heads of various security agencies in the state. Tella while speaking, said that the commission has distributed over 402, 321 PVCs in the…
The Lagos Chamber of Commerce and Industry (LCCI) has asked the Central Bank of Nigeria (CBN) to explain to the public the actual reasons for the scarcity of the new Naira notes in the system. In a statement, the Director General of the Chamber, Dr. Chinyere Almona stressed the need for the apex bank to strengthen its policy implementation capacity as this, according to her, was the minimum expectation in the face of a currency crisis in which the nation has been thrown into. She said businesses in the country are suffering the effect of the currency policy lapses. Regarding…