Year
Energy firms’ bank debts rise to N5.94 trillion
The debts owed to Nigerian banks by oil and gas operators as well as power companies in the country rose to N5.94tn at the end of 2020 from N5.25tn in December 2019. The N5.94tn represents 29.16 per cent of the N20.37tn loans advanced to the private sector by the banks as of December, according to the sectoral analysis of banks’ credit by the Central Bank of Nigeria. Oil and gas firms, which received the biggest share of the credit from the banks, increased their debt by N600bn to N5.18tn in December 2020 from N4.58tn in December 2019. The debt owed by power firms to the banks rose to N763.22bn in December 2020 from N671.45bn in December 2019, the CBN data showed. Oil firms operating in the downstream, natural gas and crude oil refining subsectors owed N393tn as of December, up from N3.42t...
Will Smith opens up about running for president
Will Smith has opened up about possibly running for president at some point in his career, and we wouldn’t put it past him. The 52-year-old has taken on some of the biggest roles in Hollywood, but he may be turning his attention to politics next. Appearing on the Pod Save America podcast, hosted by Jon Favreau, Jon Lovett, Dan Pfeiffer and Tommy Vietor, the Bad Boys actor teased that the Smith family could be headed for the White House. When asked what he thinks about entering politics and running for office himself, he laughed: ‘I think for now, I’ll let that office get cleaned up a little bit and then I’ll consider that at some point down the line. ‘I don’t know, it’s like, I absolutely have an opinion, I’m optimistic, I’m hopeful, I believe in understanding between people. I believe in ...
Ondo governor suspends NURTW, RTEAN, orders unions to vacate motor parks
Ondo State Government has suspended both the National Union of Road transport workers, NURTW, and the Road Transport Employers’ Association of Nigeria, RTEAN in the state. The Senior Special Assistant to the governor on special duties and strategy, Dr Doyin Odebowale, said that the suspension was with immediate effect. Odebowale attributed the suspension to recent leadership crisis within the two unions He directed the leadership of both unions to vacate motor parks across the eighteen local government areas of the state and to stop collecting dues from taxi drivers and other motorists across the state. Odebowale also directed taxi drivers to revert to the old price of N50 per drop across the state. He explained that new tickets would be purchased directly from the state government and no ...
Okomu Oil Palm wants central bank to review anchor borrowers programme
Okomu Oil Palm Company Plc. wants a review of CBN’s Anchor Borrowers Programme (ABP) to accommodate more farmers and to shore up the nation’s foreign earnings from agriculture. The ABP is targeted at smallholder farmers engaged in the production of rice, maize, wheat and cash crops like oil palm, cocoa and rubber, among others. Speaking with newsmen on Monday in Benin, Okomu Oil’s Managing Director, Dr Graham Hefer, noted that cash crop farmers were yet to fully benefit from the programme. He said food crop farmers had an edge because they could cultivate, harvest, sell and repay their loans within the specified one year period. “It is easy for farmers engaged in annual crops to meet their targets. “This doesn’t happen with cash crops because in the first three years of oil palm production...
South Africa signs J&J vaccine deal, eases restrictions
South Africa has signed an agreement with Johnson & Johnson to secure 11 million COVID-19 vaccine doses and will ease restrictions due to a decline in new cases, President Cyril Ramaphosa said on Sunday. South Africa has been the hardest-hit on the continent by the pandemic, recording almost half of the COVID-19 deaths and more than a third of reported infections. But daily cases have fallen below 2,000, from a peak above 20,000 last month during a second wave of infections. Ramaphosa said in a televised address that 2.8 million of the J&J doses would be delivered in the second quarter, with the rest spread throughout the year. South Africa started administering the single-dose J&J vaccine this month in a research study targeting healthcare workers but has not yet rolled out sh...
Senator Saraki moves to reconcile Ayo Fayose, Seyi Makinde
Ex-Senate President Bukola Saraki, is brokering peace between former Governor of Ekiti State, Ayodele Fayose and Governor of Oyo State Seyi Makinde. Fayose and Makinde have been on a warpath for quite some time now. Fayose insists that Makinde shouldn’t be carrying himself as leader of the PDP in the southwest because he’s the only PDP governor in the region. Fayose has also warned Makinde that he’ll work against his re-election in 2023 if he doesn’t stop disrespecting him. “When Makinde was to contest, I was the one that presented the flag to him and a red pen. It is a higher authority that hangs your rank, a senior officer hangs the rank of a junior officer, that means he saw me as a leader at the time I was giving him the flag at Ogbomoso,” Fayose said recently, adding that Makinde was ...
Zlatan Ibrahimovic: Brazil legend Ronaldo ‘the best player in history’
Milan star Zlatan Ibrahimovic has named Brazil legend Ronaldo as ‘the best player in history’. Ibrahimovic expressed his admiration towards the World Cup winner ahead of Milan’s Europa League clash with Red Star Belgrade on Thursday night, while putting him ahead of modern-day greats such as Lionel Messi and Cristiano Ronaldo in the all-time list of top players. The 39-year-old thinks Ronaldo Nazario, who inspired Brazil to World Cup glory in 2002, transcended the game with his unique talents and still stands out as the unrivalled master of the footballing craft to this day. Zlatan told Discovery Plus: “I don’t need to describe Ronaldo, ‘The Phenomenon’. “I always say you have the players that play the game, and the players that are the game. For me, Ronaldo is the game. When you watch him...
Nigerian government announces additional economic zones for agric, textile
The federal government has approved the expansion of the existing Free Trade Zones (FTZs), as well as the activation of existing ones to respond to the demands of the African Continental Free Trade Area Agreement (AfCFTA) and the COVID-19 pandemic. The Managing Director, Nigerian Export Processing Zones Authority (NEPZA), Prof. Adesoji Adesugba, who disclosed this Wednesday, further identified the new economic zones to include Funtua FTZ Katsina for textile and cotton, Lagos FTZ for medical, as well as Kwara for agriculture. Speaking while receiving the leadership of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), led by Hajiya Saratu Iya Aliyu in his office, Adesugba said the move seeks to boost the industrialisation agenda of the present admi...
Oyo governor to declare Hijrah holiday from next year
Governor Seyi Makinde of Oyo State, on Wednesday, declared that starting from next year, the government would declare Hijrah holiday in line with the yearnings of the Muslim community in the state. Makinde, who made the declaration during the celebration of 2021 Mawlud Nabiyy, held at the Remembrance Arcade of the Government House, Agodi, Ibadan, stressed the need for the Muslim faithful and non-Muslims as well to continue to peacefully coexist. A statement by the Chief Press Secretary to the governor, Mr. Taiwo Adisa, indicated that the governor equally declared that the state will always rise above the antics of perpetrators of evil, whom he said had tried all they could to plunge the state into chaos. According to Governor Makinde, only peaceful and harmonious coexistence would lead the...
Robert Lewandowski discusses potential move to MLS
Bayern Munich star Robert Lewandowski has said he knows a lot about MLS but wouldn’t be drawn on a possible move to North America in the future. Lewandowski’s wife has said in the past that her husband is interested in ending his career in Los Angeles, which is no doubt intriguing to both LA Galaxy and Los Angeles FC. Although the 32-year-old isn’t closing any doors, he has indicated that he is not thinking much about his long-term future right now. In an interview with CBS Sports, the Bayern star said: “Playing in the USA? I don’t know because I don’t know what it means for me and when. For sure I know a lot about MLS because a few Polish players and also German players played there and they talk to me about the life there, but also about MLS. “They say that every year there is a step up ...
Appeal Court strikes out Facebook’s appeal against trademark judgment
The Court of Appeal sitting in Lagos, Tuesday, dismissed Facebook’s appeal challenging the judgment of a Federal High Court, Lagos, which awarded N10 million against it (Facebook) in favour of a Nigerian firm, Double Paws Enterprise, as damages for unlawfully interfering with the use of the firm’s trademark. The appellate court justices that decided the matter were Justices Haruna Tsammani, Oluwayemisi Williams-Dawodu, and Abdullahi Bayero. Justice Bayero read the lead judgment. Facebook had appealed the lower court judgment through its counsel, Jackson Etti. However, counsel to the respondent, Double Paws Enterprise, was Mr Gideon Okebu. Facebook challenged the competence of the appeal and urged the Appeal Court to dismiss the same for being fundamentally flawed. Justice Bayero in the lea...
Coronavirus: Nigeria records 18 more deaths, 645 new infections
A total of 1,831 deaths have now been recorded from COVID-19 in Nigeria after 18 more people died on Saturday, health authorities have said. The 18 deaths on Saturday indicated a significant increase from the eight fatalities recorded on Friday. Nigeria also reported 645 new infections on Saturday, increasing the total number of known cases in the country to 151,553. This is according to an update by the Nigeria Centre for Disease Control (NCDC) Saturday night. Low testing figures in many states has limited Nigeria’s ability to determine the true extent of the spread of COVID-19. A recent general fact sheet published by the NCDC showed that Kogi, Cross River and some other states were not conducting enough tests. More than two-third of the over 151,000 people infected by COVID-19 in Nigeri...
