Russia-Ukraine War and Global Gas Supply: Nigeria as `a Buffer’

The Russia and Ukraine standoff, vis a vis boycott of Russian gas has triggered significant disruptions and created a huge shortage in the global gas supply chain. Available data indicate that Russia is the world’s largest natural gas exporter; exporting 238 billion cubic meters in 2020 and accounting for about 45 per cent the EU’s imports in 2021. It implies that any dislodgement in Russia’s gas supply would leave a deep crater that must be...

Food Prices Continue to Soar in Abuja, Environs

Prices of staple food have continued to increase in Abuja and Nasarawa State, the News Agency of Nigeria reports. A NAN survey revealed that in Nasarawa and the FCT, residents are frustrated due to the price increase of staple food items. A trader in Kubwa market, Mr. Dini Suleiman, said a bag of beans previously sold for N27,000 was now sold for N49,000. Suleiman said a bag of Nigerian Rice previously sold for between N15,000...

Elon Musk Calls Off $44bn Twitter Bid, Battles With $1bn Breakup Fee

Elon Musk, Tesla CEO, has backed out of his $44 billion Twitter takeover deal, setting the stage for an epic court battle over a billion-dollar breakup fee and more. This is according to a letter sent by a lawyer on Musk’s behalf to Twitter’s Chief Legal Officer on Friday. In the letter, disclosed in a Securities and Exchange Commission filing, Skadden Arps attorney, Mike Ringler, said Tesla’s Chief Executive Officer was exercising his right to...

Tiger Foods Launches Processed Beans, Offers 5,000 Free Packs To Customers

ONITSHA — Tiger Foods Limited, a Nigerian manufacturing company that produces food spices and seasonings, has launched processed and packaged beans as its latest food product. The company announced the launch of the product on its Twitter page on Saturday, July 2. “Drum rolls, pamparampam. If your guess was grains, then you are absolutely correct. This is the secret we have been keeping. We welcome Tiger Beans to our family. Premium Sorted Quality Beans. Sand...

New Car Assembling Company Ingrace Motors Set to Start off In Enugu.

ENUGU — The Federal Government has approved an indigenous company Ingrace Group to assemble vehicles in Nigeria. The CEO of Ingrace Group, Chief Onu, revealed this when he paid a courtesy visit cum presentation of a car to the state government on Wednesday at the Enugu State Government House, Independence Layout, Enugu. Onu who came into the company of his management team and some brands out of the 11 of their vehicles for inspection called...

Nigeria Has 167,000 POS Operators – Abdullahi

Ibrahim Abdullahi, Chairman of the Board of Trustees (BOT) of the Association of Point of Sale Users in Nigeria (APOSUN) said Nigeria has grown the number of Point of Sale (POS) operators to about 167,000. Abdullahi disclosed this when the association paid an advocacy visit to the FCT command of the Department of State Services (DSS) in Abuja recently. “APOSUN, registered three years ago, aimed at creating jobs for Nigeria’s teeming unemployed youths and minimizing crime....

Stakeholder Urges Oil Marketers to Cooperate With FG, End Fuel Scarcity

Mr. Muhammad Saleh-Hassan, Chairman, Skymark Energy and Power Ltd, has urged oil marketers and other stakeholders in the energy sector, to cooperate with the Federal Government and end fuel scarcity in Nigeria. The energy stakeholder, who made the call in Abuja on Sunday, stressed that oil marketers had a major role to play in ending recurring fuel scarcity in the country. Saleh-Hassan noted that the energy crisis appeared to have defied government’s efforts, and urged...

OPEXA Appeals to NASS to Expedite Ratification of N375bn EEG

The Organised Private Sector Exporters Association (OPEXA) has appealed to the National Assembly (NASS) to urgently ratify the approval of the N375 billion Export Expansion Grants (EEG) for exporters. In a report, the News Agency of Nigeria notes that the N375 billion represents the backlog of the EEG from 2017 to 2020, whose payment was delayed due to budgetary constraints. The Federal Executive Council (FEC) recently approved the disbursement in form of Promissory Notes, which...

AfCFTA Needs PPP to Thrive – Saraki

LAGOS — Sen. Gbemisola Saraki, Minister of State for Transportation, has called for Public, Private Partnership (PPP) to create an enabling environment for the African Continental Free Trade Agreement (AfCFTA) to thrive. Saraki made the call at the Ministerial Consultative Meeting with the media on Friday in Lagos. Saraki said her visit to Lagos was to take stock of the state of the two ports in Lagos, which were in dire need of repairs. “For...

Federal Government Trains Groundnut Farmers On Modern Techniques

The Federal Government has trained farmers on modern techniques of groundnut farming to make the crop serve as an alternative source to oil export. Yusuf Isma’il Idris, NEPC Adviser in Gusau, who revealed this at a one-day workshop for groundnut farmers held in Maru local government of Zamfara state, said the move is to ensure that Nigerian crops meet international standards. Idris also said the Federal government had earmarked one farm product per state across...

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