Index to Nigerian Newspapers

President Muhammadu Buhari has approved the appointment of Ayodeji Ariyo Gbeleyi as the Chairman of the Board of Directors of the Federal Mortgage Bank of Nigeria (FMBN). Gbeleyi replaced Chief Adewale Adesoji Adeeyo who passed on recently. He is a well-known financial expert who was once a Commissioner for Finance in Lagos State and a player in the aviation sector. Abuja doctor reveals a unique way to permanently cure weak erection, small and shameful manhood, and infertility issues without side effects within a short period.

Dangote's Petrochemicals, Fertiliser Plant will accelerate Africa's economic growth, says AfDB. President of the African Development Bank (AfDB), Akinwumi Adesina has described Dangote Refinery and Fertiliser projects as the best industrialised project to happen to Africa.

Oil marketers have projected that the ex-depot price of Premium Motor Spirit, popularly known as petrol, would hit N515/litre once they source foreign exchange rate at the parallel market. The Independent Petroleum Marketers Association of Nigeria has called on the Federal Government to provide opportunity for marketers to start importing petrol by enabling dealers to have access to foreign exchange. Currently, the Nigerian National Petroleum Company is the sole importer of PMS into Nigeria, as other marketers stopped importing due to their inability to access the United States dollar. Ukadike called on the government to give oil marketers the opportunity to start importing petrol, as the commodity was now deregulated. He identified the lack of the United States dollar as a challenge, but the Nigerian Midstream and Downstream Petroleum Regulatory Authority announced that it was no longer going to fix the prices of petrol or release templates for the commodity.

Oil marketers have projected that the ex-depot price of Premium Motor Spirit, popularly known as petrol, would hit N515/litre once they source foreign exchange rate at the parallel market. The Independent Petroleum Marketers Association of Nigeria has called on the Federal Government to provide opportunity for marketers to start importing petrol by enabling dealers to have access to foreign exchange. Currently, the Nigerian National Petroleum Company is the sole importer of PMS into Nigeria, as other marketers stopped importing due to their inability to access the United States dollar. Ukadike called on the government to give oil marketers the opportunity to start importing petrol, as the commodity was now deregulated. He identified the lack of the United States dollar as a challenge, but the Nigerian Midstream and Downstream Petroleum Regulatory Authority announced that it was no longer going to fix the prices of petrol or release templates for the commodity.

The Plateau State Government has ordered the sealing of any filling stations found hoarding fuel in the state due to the imminent scarcity of Premium Motor Spirit (PMS) in Tin city. A task force has been mandated to seal up any filling stations found to be hoarding the product. Long queues of motorists have been observed at filling stations in Jos due to possible withdrawal of fuel subsidy. A doctor in Abuja has revealed a unique way to permanently cure weak erection, small and shameful manhood, and infertility issues without side effects. This is in response to the use of hard drugs for sex, which kills. The doctor also reveals a way to speed up a computer by 30-40%.

The Bank of Agriculture (BoA)  said farmers must take insurance on every loan accessed through the bank,  for risk management.For small loan up to N1 million, the borrower will need to provide two guarantors as collateral. While for amounts over N 1 million, the bank will take property security or bank guarantee. According to BoA the money  farmers are taking from the bank are not grants, it is the capital of the bank that is being used to give to farmers to do their business, if they don’t pay back, the bank capital will be eroded and  the bank will start having challenges in meeting her obligation.

Lagos State has moved to curb poverty, especially among women, through a 'Waste to Wealth' training. The Commissioner for Women Affairs and Poverty Alleviation, Mrs. Cecilia Dada, said it was important to discuss processes to convert waste to consumables for global entrepreneurial development. Recycled plastics, weed and waste generated from forestry and the agricultural sector can be harvested, processed and utilised to create sustainable fortune and prosperity. The Assistant General Manager (Business Development) of Lagos Waste Management Authority (LAWMA), Mrs. Jirinsola Ladipo-Okubanjo, urged residents to ensure proper containment of waste products and to assist the government in recycling waste. She also proffered a recycling method using the Pakam app, which can be converted to money.Founder of Women Lifeline International Foundation Mrs. Gloria Melokam thanked the ministry for organising the programme and described it as an eye opener.

 

 

The Nigeria Labour Congress has asked the Federal Government to rescind the decision to reintroduce excise duties on non-alcoholic and carbonated drinks, which could cost the beverage sub-sector N1.9 trillion in sales.

The Nigeria Labour Congress has asked the Federal Government to rescind the decision to reintroduce excise duties on non-alcoholic and carbonated drinks, which could cost the beverage sub-sector N1.9 trillion in sales.

Nigeria is set to curb imports in the face of declining revenue from oil, but its agriculture sector is facing hard times due to the COVID-19 pandemic and soaring inflation. The Comprehensive Africa Agriculture Development Programme (CAADP) proposed that African countries allocate 10% of their budgets to boost agricultural productivity, but Nigeria has failed to implement the policy. Its budgetary allocation to agriculture rose from 1.70% in 2017 to two% in 2018. Nigeria's low budgetary allocation to agriculture is one of the reasons the sector has not recorded huge progress when measured against the African Union's African Agricultural Transformation Scorecard (AATS). The AATS tracks progress in commitments made by AU Heads of State and Government through CAADP and the Malabo Declaration to increase prosperity and improved livelihoods for transforming agriculture. Concerned stakeholders and experts in the sector have called for an increase in funding allocated to the sector, but also improvements in the effectiveness of agricultural spending.

Nigeria is set to curb imports in the face of declining revenue from oil, but its agriculture sector is facing hard times due to the COVID-19 pandemic and soaring inflation. The Comprehensive Africa Agriculture Development Programme (CAADP) proposed that African countries allocate 10% of their budgets to boost agricultural productivity, but Nigeria has failed to implement the policy. Its budgetary allocation to agriculture rose from 1.70% in 2017 to two% in 2018. Nigeria's low budgetary allocation to agriculture is one of the reasons the sector has not recorded huge progress when measured against the African Union's African Agricultural Transformation Scorecard (AATS). The AATS tracks progress in commitments made by AU Heads of State and Government through CAADP and the Malabo Declaration to increase prosperity and improved livelihoods for transforming agriculture. Concerned stakeholders and experts in the sector have called for an increase in funding allocated to the sector, but also improvements in the effectiveness of agricultural spending.

Restructuring is a national blessing, and if Nigerians had taken time to look at it, most problems faced today would have been solved. A President from Igboland and South East is the right time for justice, equity, and fairness to come home to Nigeria.

The Nigerian capital market closed on a positive note in 2022, posting 19.98 percent growth last year and 8.776 percent this year. However, that upswing was not sustained in the following weeks. The Tinubu administration can change this narrative by using fiscal incentives to attract more companies to list on the Nigerian Exchange. Additionally, the FX issue is getting too much, and policies can be put in place to ensure that demand is met.

 

Foreign Airlines trapped funds across the globe have skyrocketed to $2.27billion in April 2023 from the initial $1.55billion in April 2022. Nigeria topped the most indebted five countries with $812.2 million, followed by Bangladesh with $214 million debts, Algeria with $196.3 million, Pakistan with $188.2 million and Lebanon with $141.2 million. The IATA DG declared that airlines cannot continue to offer services in markets where they are unable to repatriate the revenues arising from their commercial activities in those markets. The Governor of Enugu State has declared an end to sit-at-home in the state effective from June 5, 2023. IATA urged governments to abide by international agreements and treaty obligations to enable airlines to repatriate funds arising from the sale of tickets, cargo space, and other activities.

Lamin Manjang, Chief Executive Officer of Standard Chartered Bank Nigeria, highlights the importance of digital banking channels and why they are desirable in many thriving economies. He explains that digital banking has evolved significantly over the last five years to become an important part of our daily activities, driving e-commerce, wealth creation, payment solutions, financial empowerment, and improved standards of living. He also explains that with digitisation, there are immense opportunities for employees to acquire new skills that position them for the future working environment which will be predominantly digital. Digitisation has broadened and extended a bank's ability to reach customers, simplify manual processes, reduce delays, and create new job opportunities. Standard Chartered is a customer-centric financial institution focused on understanding how customers want to transact and improving products and services.