All Posts in "Day: April 1, 2021"

FG Appeals To Doctors To Shelve Strike

FG appeals to ASUU to shelve strike | The Guardian Nigeria News - Nigeria and World NewsNigeria — The Guardian Nigeria News – Nigeria and World News
The Federal Government has appealed to resident doctors to consider the plight of 80 per cent of the citizenry in need of healthcare and not proceed on strike.
The government said the country was in a bad place health wise because of the impact of COVID-19 pandemic on the medical sector.
Chris Ngige, the Minister  of Labour and Employment, conveyed the plea at a conciliatory meeting with the leadership of National Association of Resident Doctors (NARD) .
According to him, majority of the welfare issues under contention were almost resolved even before the letter of complaint and notification of a planned strike action was delivered at the ministry.
Online Editor by — April 1, 2021 in Labour/Human Resources 0
Stop Hoarding,DPR Warns Fuel Marketers

The Department Petroleum Resources (DPR) has warned fuel marketers against hoarding and creating artificial scarcity in the country.
Mr Paul Osu, Head, Public Affairs, DPR, gave the assurance in Abuja,explained that marketers need not engage in the unwholesome practice because there was product sufficiency nationwide .
He assured Nigerians of petroleum products availability during the Easter season,adding that the agency  would intensify its  monitoring and surveillance of Petroleum products outlets to ensure compliance with quality,  quantity, integrity and safety of operations in line with its regulatory mandate.
He advised consumers to report any infraction such as under dispensing of products to any DPR office nationwide.
He also reiterated the DPR’s commitment to safety and advised consumers to observe all necessary safety protocols in the handling of
petroleum products especially at this season of harmattan.
He  said  the regulatory agency would
continue to initiate appropriate initiatives to enable business and create opportunities for investors and stakeholders in the oil and gas industry in Nigeria.
Online Editor by — April 1, 2021 in Oil&Gas 0
 African Coys Shift Goal Post On Zero Carbon  Emission -Report

Why African Coys Shift Goal Post On Zero Carbon Emission – INL Blog
Over half of African companies are delaying their energy transition targets, leaving them in danger of missing the Paris Agreement target of net zero carbon emissions by 2050, new research from Standard Chartered has revealed.
Zeronomics, a study into the financing of a net zero world, surveyed the senior leadership of 250 large companies and 100 investment specialists around the world between September and October 2020 and found that 55 percent of Africa-based business leaders believe their companies are not transitioning fast enough .
It also said lack of access to finance is the biggest barrier to progress for African companies, adding that  35 per cent of African companies fully support the aims of the Paris Agreement (47 per cent globally)
According to the  research, many companies based in Africa are looking to delay significant action to after 2030, with the 2020s looking set to be a lost decade.
It added that some 32 per cent of business leaders (34 per cent globally) said their companies will make the most progress between 2030 and 2040, while a further 40 per cent (37 per cent globally) said they will take most action between 2040 and 2050.
It said:’’Most companies are delaying transition because they do not feel they are currently equipped to meet the target. Some 78 per cent (59 per cent globally) said they need an extensive organisational change before tackling net zero. A lack of finance isn’t the only hurdle companies in Africa face on the road to 2050. Seventy-two per cent (63 per cent globally) believe a lack of consensus on net zero definitions and targets is hampering progress, while the same percentage (60 per cent globally) say a lack of support for net-zero transition from their organization’s investors is a significant barrier to net zero.
 ‘’Meanwhile, COVID-19 is forcing many businesses in the region to focus on immediate survival: A whopping 80 percent (85 percent globally) of African senior executives say the pandemic has delayed their company’s net-zero transition’’.
The research also reveals what business leaders believe is needed in order to speed up transition,stressing 90 per cent ( 77 percent globally) believe an effective global carbon tax, based on a carbon price that reflects the true cost of climate change would help the transition.
A further 88 per cent (81 per cent globally) said cost savings from sustainable practices could help the world hit net zero by 2050. Meanwhile, the same percentage (81 per cent globally) believe standardised net-zero measurement frameworks would help with transition, underlining the fact that what we have currently, a matrix of different definitions, measurement and reporting requirements is a major challenge for senior executives,it added.
Bill Winters, Group Chief Executive of Standard Chartered says: “Our survey reveals that most companies intend to transition to net-zero by 2050 but have yet to take the action needed to get there. A majority cite funding as an obstacle and carbon-intensive industries and emerging-market companies struggle the most.
“A successful net-zero transition must be just, leaving no nation, region or community behind and, despite the hurdles, action needs to be swift. We must act now, and we must act together: companies, consumers, governments, regulators and the finance industry must collaborate to develop sustainable solutions, technologies and infrastructure.”
Sarmad Lone, Regional Head, Client Coverage Corporate, Commercial & Institutional Banking Africa & Middle East, Standard Chartered Bank added: “Our survey reveals that there is significant opportunity in Africa to pave the way for zero-net carbon emissions. Our biggest challenge, and what should be a priority for us as companies, is to reach a consensus on net-zero definitions and how the transition should be implemented across the region. It is no question that this will take time and is a mandatory collective effort by all communities in Africa. We have to reverse the damage we have done to our planet, and I am honoured that Standard Chartered is a company that has placed priority in achieving this goal.”
Online Editor by — April 1, 2021 in Environment 0
Coscharis Motors Splashes  Easter Special Offer On Customers 

Coscharis Motors Announces Easter Special Offer-Brand Spur Nigeria
Coscharis Motors Plc has unveiled  exclusive offers for its range of auto products for the entire period of Easter for its customers in the country.
The company said  the offers range from favourable pricing, giveaways, complementary insurance, registration and services.
Abiona Babarinde, the General Manager, Marketing and Corporate Communications, Coscharis Group, explained that  existing customers and new customers now have the opportunity to drive away either the Jaguar, Land Rover, BMW, Ford or Renault variants with ad-on during the Easter period.
He added that the development  This is another way of appreciating our numerous loyal customers who have been consistent with their patronage over the years to enjoy this special offerings to celebrate the Easter festive season.
“Also, as a way of cultivating new customers, we are equally extending this package to accommodate all our hot prospects alike to own any of our iconic brands with ease,” he said.
He said the price offers ranges from 5% upwards across the brands, every Renault (Kwid & Koleos) purchase comes with a free Abro generator while Jaguar Land Rover offers a complementary 5 years warranty and 5 years free service including special pricing for the Jaguar E Pace.
He noted  that the  offers are only valid while stocks last. Major price slashes are offered for the Ford Escape, BMW X4, 4 and 3 series amongst others.
He explained that the value for money that the Coscharis brand brings to the market at this point is the product mix that gives the opportunity to customers to own different products within the group for a lesser amount like getting an Abro generator with a vehicle purchase.
Online Editor by — April 1, 2021 in Motoring 0
Nigeria’s Maritime Industry Needs More Private Sector Financing-BPE Boss

BPE boss calls for increased PPP in maritime sector
Alex Okoh, the Director General of Bureau of Public Enterprises,has advocated the need
for increased private sector involvement in financing critical infrastructural development in the maritime sector to pave way  for the industry to become a major revenue earner for the Federal Government.
He gave the advice at  a webinar on public private partnership as alternative financing model in the maritime sector organised by the Nigeria-South Africa Chamber of Commerce and sponsored by SIFAX Group.
He said  the success of the port concession was as a justification for more private sectors funding, adding  that the Federal Government’s revenue from the sector more than doubled ten years post-concession.
According to him,  competing needs for government’s lean resources has also made public private partnership (PPP) a welcome option.
He said the Federal Government has simplified the PPP process, which now allows for private sector players to scout for projects that can be financed through the model.
He said, “The Bureau of Public Enterprises has been entrusted with a significant part of the PPP responsibilities in Nigeria through the Federal Government’s circular of September 2020. What this means in effect is that players in the country’s maritime and other key sectors of the economy can identify and suggest projects to the government through the BPE or relevant MDAs.
“Once these projects are examined, approval will be given to the relevant parties to undertake an appraisal, feasibility study or outline of the business case, which will be scrutinised by the government. Thereafter, a tender will be published. The benefit of this is that the originator of the project will be allowed to provide a matching offer with that of the highest bidder and if the party is able to match this offer, they will be declared the preferred bidder.”
He urged the private sector to  identify the gap in transport infrastructures in the nation’s maritime sector and work towards providing solutions to these gaps.
He noted that such investments in and around Nigeria’s ports will help reduce the high shipping charges and local transport to warehouse costs which will in turn make the nation’s ports more competitive and business friendly in comparison to other African countries.
Online Editor by — April 1, 2021 in Maritime 0
FCT ,Transportation,Aviations Get N19bn Approval To Execute Projects

FEC approves N44.5bn for FCT, roads, power projects - Vanguard News
The Federal Executive Council (FEC) has approved over N19billion for various projects for the Ministries of Transportation, Aviation and the Federal Capital Territory (FCT).
Ministers of Information and Culture, Lai Mohammed; Aviation, Hadi Sirika and FCT, Muhammed Bello made these known at the end of the Council meeting which was chaired by Vice-President Yemi Osinbajo in Abuja on Wednesday.
The Minister of Information said the five memos presented by the Minister of transportation, Rotimi Ameachi, were approved by the Council.
He said the approvals included N639million for modular tamping machine for Nigerian Railway Corporation (NRC), N247million for procurement of a rig-stacker for National Inland Waterway Authority and N166billion for two power cars to be used on the narrow gauge by the NRC.
The Council also approved N3.5billion for the removal of wrecks along the Badagry Creek from Tincan Island to Navy Town in Lagos State as well as N902million for the construction of 1000 sitting capacity international conference centre for the Nigerian Institute of Transport Technology, Zaria, Kaduna state.
“The first memo is actually a memo in which the minister sought the approval of Council for the award of contract for the design, manufacture, supply testing and commissioning of one modular tamping machine at the sum of N639,150,932 for the use of the Nigerian Railway Corporation. The machine is for immediate use in Agbor, Delta.
“The second memo was a memo asking for Council’s approval for the award of contract for the procurement of one rig-stacker, in the sum of N247,062,708. This is for the benefit of the National Inland Waterway Authority.
“The third memo is one seeking Council’s approval for the award of contract for the design, manufacture, testing and commissioning of two power cars to be used on the narrow gauge by the Nigerian Railway Corporation, at a sum of N1.662 billion.
“There’s another memo by the Minister of Transportation, which sought Council’s approval for the award of contract for the removal of wrecks along the Badagry Creek from Tincan Island to Navy Town Lagos State, in the sum of N3,587,955,266.40  and it’s supposed to be completed within 25 months.
“This contract will benefit the National Maritime Administration and Safety Agency.
“Finally, the Minister of Transportation sought Council’s approval for the award of contract for the construction of a 1000 sitting capacity international conference centre for the Nigerian Institute of Transport Technology (NITT), Zaria, in the sum of N902,329,463.33,’’ he said.
According to the minister, the project is to be completed within 24 weeks, saying the NITT, being the apex transport and logistics management development institute in Nigeria and the West African sub-region, is desirous of constructing a 1000 sitting capacity international conference centre to meet its growing population.
Sirika also said that the Council approved N10.5billion for the provision of Airport Management Solution for the international airports of Abuja, and that of Lagos, Kano, Port Harcourt and Enugu
He said the approved amount included 7.5per cent Value Added Tax (VAT) while the project would be completed in 12 months.
Online Editor by — April 1, 2021 in Politics 0
Fidelity Bank Proposes N6.4bn Dividend To Shareholders 

Fidelity bank proposes 11 kobo dividend to shareholders
The Board of Fidelity Bank  has proposed a N6.4billion  payout, which translates to 22 Kobo dividend per share to its shareholders for the year ended December 31,2020
 The bank posted a 50.9% growth in Core Operating Profits from N29.8billion in 2019FY to N44.9billion while Net Revenue increased by 15.0% from N111.8billion in 2019FY.
Customer deposit rose by 38.7% from N1,225.2BN to N1,699.0BN just as total assets grew by 30.5% from N2,114.037TRN in 2019 FY to N2,758.148TRN.
But its  Profit Before Tax dropped by 7.6% to N28.1BN from N30.4BN in 2019FY, due to an increase in the Bank’s loan provisions to shield it from any headwinds. A positive for the Bank especially in the current era of Covid-19 and its attendant effect on business risks.
“We are pleased with our financial performance, which clearly showed the resilience of our business model as core operating profit increased by 50.9% to N44.9BN from N29.8BN in 2019FY. We also saw a significant improvement in our efficiency indices as cost-to-income ratio moderated downward to 65.1% from 73.4% in 2019FY. However, Profit Before Tax (PBT) dropped by 7.6% to N28.1BN as we proactively increased our provisions on risk assets to N16.9BN from a net write-back of N0.6BN in 2019FY,” said Nneka Onyeali-Ikpe, Fidelity Bank CEO.
He added  that the bank took a conservative stance in recognition of the impact of the global pandemic, which has redefined business risks and opportunities in the new normal”.
He said the bank’s digital retail banking approach has continued to yield positive results.
Though digital banking income dropped by 18.8% due to the revised banker’s tariff, Onyeali-Ikpe, said it increased by 19.6% QoQ on account of increased customer adoption as more services were migrated to the bank’s digital channels.
The bank’s boss expressed satisfaction  with the progress of its digital banking play stating that over 52.8% of customers are now enrolled on the Bank’s mobile/internet banking compared to 47.4% in 2019FY, while 88.4% of our customers’ transactions were done on the digital platform products and more than 81% of total transactions done on digital platforms.
Online Editor by — April 1, 2021 in Banking&Finance 0
How Father Beats Son To Death For  Stealing

Kano State Police Command  has arrested a father, one Awaisu Auwalu, 40 years old who beats up his 19 years old son, Auwalu Awaisu, to death over alleged theft.
 Awaisu used a stick to beat up his son who died days after he was rushed to the hospital,police account said.
The Police Public Relations Officer, DSP Abdullahi Haruna, who confirmed this to newsmen said the father alleged that he beat up his son for series of theft from his provision store.
According to him, “On the 27th March 2021 at about 1700hrs, information received revealed that one Awaisu Auwalu, ‘m’ 40 years old, of Samegu Quarters Kano, used a stick and beat his Son, one Auwalu Awaisu, ‘m’ 19 years old.
“Upon receipt, the victim was removed from the scene and rushed to Murtala Mohammed Specialist Hospital Kano. He died on the 29th March 2021 at about 0600hrs while receiving treatment.
“On Investigation, the father confessed to having used a stick and flogged his son. He alleged that the deceased made series of Theft from his provision store.
“However, the Commissioner of Police, Kano State Command, CP Sama’ila Shu’aibu Dikko, ordered that the case be transferred to the Command’s Criminal Investigation Department, Homicide Section for discreet investigation.
“Suspect (the father) will be charged to court upon completion of the investigation,” DSP Haruna however stated.
Online Editor by — April 1, 2021 in Crime/Metro 0
Why Lagos Enforcement Officers Must Use Body Camera- Sanwo-Olu

Lagos law enforcement officers to use body camera, says Sanwo-Olu - Punch Newspapers
Governor Babajide Sanwo-Olu has rapproved a mass training for the Lagos  State’s law enforcement personnel on the use of body worn cameras, ahead of the deployment of the digital tools for security operations in the state
He spoke  during the launch of the body worn cameras for the State’s Law Enforcement outfits in Alausa.
Sanwo-Olu said the move would improve transparency and accountability in the activities of law enforcement agencies, and put the State Government in a better position to respond to security challenges in real time.
He said provision of adequate security is a key pillar of his administration’s T.H.E.M.E.S. agenda, stressing that the initiative reflected his Government’s resolution to ensure Lagos remained secure for residents and investors.
He said: “I am pleased to inaugurate the use of body-worn cameras by law enforcement officers in Lagos and this is a groundbreaking move to enhance safety in the State, as well as increase transparency and accountability in the activities of our law enforcement agencies. Lagos State has strategically set the pace among other States in Nigeria to launch the use of body worn cameras by law enforcement officers.
“The security challenges in different parts of the country are worrisome, but with proactive action, the use of modern technological tools, and a mix of well-trained and intelligent officers, we will successfully combat many of these challenges. With body-worn cameras, our law enforcement officers are better equipped to protect lives and properties, thereby, making Lagos safer for us all.”
Sanwo-Olu said the launch of the body-worn cameras would take the government a step closer towards fulfilling its security agenda, stressing that the introduction of devices to frontline security team and officers would enhance their productivity and professionalism, while also fast-tracking law enforcement process.
He added that the camera will help the state government check abuse of power and excesses by security personnel, while also improving the safety and accountability of officers, who will use the devices for evidence sharing and intelligence gathering.
“I am hopeful that all officers will optimise the cameras that will be assigned to them for the furtherance of justice and improvement of the law enforcement process. Our Government will continue to prioritise the welfare of our law enforcement officers whose pivotal efforts we acknowledge in the entrenchment of a safe city,” Sanwo-Olu said.
Online Editor by — April 1, 2021 in News 0
Niger  Attempted Coup Unacceptable-Buhari

Attempted coup in Niger despicable, unacceptable - Buhari - P.M. News
President Muhammadu Buhari said condemned attempted coup in Niger Republic.
He said any illegal effort to depose a democratically-elected government is not only despicable, but also unacceptable to democratic governments around the world.
According to a statement issued by his Senior Special Assistant on Media and Publicity, Malam Garba Shehu, the President noted that violent military incursions into governance does more harm to African development.
Niger recently held its presidential election, which was won by Mohamed Bazoum.  He is due to be sworn in tomorrow.
Speaking in a telephone conversation with Mahamadou Issoufou, his counterpart and outgoing President on the situation in the West African country, President Buhari warned: “The international community is hostile to the change of government by violent and unconstitutional means. It is utterly naive to attempt the removal of an elected government by force.
“Military political adventurers should respect the will of the people and respect constitutional order.I’m particularly concerned about the negative impact of coups on African stability, peace and progress.
“Nigeria cannot be indifferent to these dangers to Africa. Coups are out of fashion and the involvement of the military in violent change of government is doing more harm than good to Africa.”
He urged African leaders to “remain united against coups under whatever guise or form,” warning coup plotters to learn lesson from history on the consequences of instability caused by violent takeover of governments.
Online Editor by — April 1, 2021 in News 0