The Federal Government, through the National Population Commission (NPC), has signed a landmark deal with Nigeria’s integrated technology brand, Zinox, for the supply of the tech components and other accessories for the 2023 national census project, further justifying President Muhammadu Buhari administration’s commitment on local content promotion. The contract, worth over N85 billion, was awarded to Zinox after ratification by the Federal Executive Council (FEC). In a statement from Zinox, the company said it has already commenced supply of the first batch of about 100,000 units of the Personal Digital Assistants (PDAs) devices required for the nationwide enumeration, adding that…
Author: Elvis Eromosele
The scarcity of the Nigerian Naira occasioned by the Central Bank of Nigeria’s redesign and cash withdrawal policy has pushed Point of Sales transactions to N807.16bn in January 2023. This is a 40.69 per cent year-on-year increase from the N573.72bn transactions that were done in January 2022. According to new data from the Nigeria Inter-Bank Settlement System, total cashless transactions in Nigeria rose by 45.41 per cent y-o-y to N39.58tn in January 2023. The NIBSS monitors cashless transactions through the Nigeria Instant Payment System and Point of Sales terminals. Total NIP transactions for the period rose by 45.52 per cent…
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…
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%…