All Posts in "Day: October 17, 2024"

VeryDarkMan Identifies Don Jazzy As ‘Mystery’ Don Of N100m

 

Social media personality, VeryDarkMan, has disclosed that music producer Michael Collins Ajereh, popularly known as Don Jazzy, is the mystery donor behind the N100 million contribution to his newly established Non-Governmental Organisation.
VeryDarkMan,who announced that the NGO would focus on community development and improving public schools, initially raised concerns in a video on his Instagram account, questioning the large deposit and requesting an investigation by Zenith Bank.
“@zenithbankplc please investigate my NGO account, I don’t know what is going on, hope im not being set up….I AM NOT INTO MONEY L^UNDERING I DO NOT DO FR^UD(FOR THE RECORD) Nigerians bare me witness I don’t know what’s up with the account,” he added.
In a new video released on Thursday, VeryDarkMan confirmed that Don Jazzy had reached out to inform him that he made the donation to support the cause.
Online Editor by — October 17, 2024 in News 0
Flooding:Leave River Benue Basin Now,FG Tells Inhabitants

        Mohammed Shosanya
The Director General, Nigeria Hydrological Services Agency (NIHSA), Umar Ibrahim Mohammed, has called on the citizens living along the River Benue Basin to quickly move away from the river banks as increased water on the river Benue has reached the flooding level due to increased rainfall.
A statement on Thursday issued by Mohammed, also urged those along the River Niger to move to a safe location as the management of Kainji and Jebba Dams are working to control the floodwaters.
He,however,urged Nigerians to co-operate with the Emergency Management Agencies and work together in order to collectively build resilience against flooding in Nigeria, and greatly minimise the aftermath effects of the flood.
Online Editor by — October 17, 2024 in Environment 0
Oando Targets 100,000 bpd Crude Oil Output

       Mohammed Shosanya
The Managing Director, Oando Energy Resources, Dr. Ainojie Alexander Irune,has disclosed his company’s long term ambition in the country’s oil and gas sector.
He stated this when he led a delegation of Oando Energy Resources management on a courtesy visit to the Governor of Rivers State, Sir Siminalayi Fubara
He said,part of the business dream of Oando Energy Resources Nigeria Ltd, include sustaining investment in the upstream sub-sector of the oil and gas Industry, with the target of delivering 100,000 barrels per day production over the next five years plus, in addition to 1.5 billion standard cubic feet of gas.
He added:”We will continue to invest in the upstream, which brings us to the conversation of why we are here. We have ambitions to deliver a 100,000 barrels per day production target over the next 4 to 5 years, and over 1.5 billion standard cubic feet of gas.
“We can only do that in harmony. We can’t do it in a chaotic environment. And we have chosen this state as our base whilst we produce from three other states of Bayelsa, Imo and Delta.
“And these assets span Oil Mining Leases (OMLs) 60, 61, 62 and 63 in all of these states. So, we plan continuous investment, but our priority for investment must be not just in the assets but also in the communities that these assets operate.”
He explained that Rivers State, particularly Port Harcourt,is the company’s main base of operation, adding that his delegation is delighted with the meeting they have had with the Governor as a mark of respect to their chief host.
He noted that with the untiring leadership provided by Governor Fubara, there is prevailing peace that has contributed immensely to business stability.
Dr Irune said: “As you know; Oando Energy Resources, Port Harcourt Base, is located in this State, and our smooth operations, so far, has been a function of a stable environment, a stable community, and the ability for us to carry out our day-to-day operations within this community.
“So, we are here to pay that courtesy visit and thank the Governor for the continued support that he has given to the company.
“We believe that the operating environment has been relatively improving. We see some unrest in some areas, especially as it relates the issue of pipeline vandalism, but we see significant improvement.”
Dr Irune stated that they have continued to engage with all relevant stakeholders, including the host communities, who must be carried along on their business journey towards  achieving success.
He noted the level of transformation the company wants to create in their determination of contribute to fostering more habitable and more dignifying ecosystem.
He added, “And, I believe that this will be the first step to reducing the level of destruction that we see. Overall, there is a peaceful Rivers State, a peaceful environment.
“The government agencies are very cooperative and our local communities are, so far, being extremely welcoming, and have shown a lot of pride in the transitioning into indigenous hands of the formally known Eni Agip held assets to a local company, Oando Energy Resources, to invest in the country”
Online Editor by — October 17, 2024 in Oil&Gas 0
MTN Launches 5G Digital Experience Center

         Mohammed Shosanya
MTN Nigeria,has launched its first 5G Digital Experience Center, at its Regional office in Maitama,Abuja .
The next-generation technology, the 5G Experience Center offered all attendees the opportunity to be the first to experience the future of connectivity in Nigeria.
Addressing newsmen,the Chief Customer Relations Officer and Acting Chief Marketing Officer, MTN Nigeria, Ugonwa Nwoye,said:”Today, MTN has launched a Digital Experience Center in Nigeria, the first of its kind by any telecom firm in Nigeria.
“And one of the things that we wanted to bring as close as possible to our  customers and businesses around us is a digital immersive experience to showcase what is possible with the technology that we provide.
“As you know MTN is a technology company that harnesses technology to improve the lives of our customers and the businesses around us.
“We believe that the full potentials of Nigeria can be reached when we harnessed technology. And that is why when we entered this market we started with being the first on 3G, the first on 4G and now the first on 5G.
“All that you see here are powdered by 5G technologies. We have also looked locally to find out what is locally relevant to our market. When you turn round and see some of the things that have been deployed, you would see that they are locally relevant. And they have been built by our team of CIO here.
“We have built for example,first Digital Kiosk that enables up to eight user journeys where a customer can come to any  of our centers by themselves without any help; of course if they want help, human beings are there to help.
“But if they want to be able to do it on their own they are able to buy a Sim, Airtime, data plans, they are able to order devices, 5G routers and those items are going to be delivered to their homes anywhere they choose across Nigeria. And this is just one use case.”
She also revealed  that, the telecom giant has what they called “smart home use case.”
According  to her,this shows you that anywhere you are in Nigeria or in the world, you can control your home from wherever you are on your phone.
“All you need is a data connection. But this is not just about data and devices, it is about empowering youths to live a life that is breathtaking. We want the youths to meet their full potentials, we want them to really enhanced the power that they have.
“We want them to free their minds and imagine anything. We know that other people have been imagining. What about us? Nigerians are very imaginative and very creative people. And it is technology that powers these things to take them to the next level.
“So all that we are doing here today at the MTN Digital Experience Center is to allow people to experience, because we know that when we give you the ability to experience these things, the ability to create becomes bond with our customers. That is what we are doing here today.”
Nwoye further emphasized that Gaming has unlocked a lot of potentials across the world.
She added: “There are people  who have created Games like FIFA 2023, FIFA 2024. These are games that are possible and  are locked within Nigerians to create and showcase to the world.”
She emphasized that Gaming world makes hundreds of millions of dollars, saying there’s a lot of “economic potentials in creation.”
Also speaking,the Chief Information Officer, MTN Nigeria, Soyinka Sodenke said:”technology unlocks potentials and what we showcased here today is the potentials that come on top of technology and it does facilitate ecosystem.
“A good  example, if you go to  MyMTN App  today, you can actually publish your own stores. You can put in your App within our own and that brings visibility of your own App, because we are able to reach today more than four million subscribers.
“And you unlocked an ecosystem by doing that and you facilitate a group of other providers by unlocking the power of technology”
Online Editor by — October 17, 2024 in IT&Telecoms 0
Prioritize Power,Forex To Tame Rising Inflation,CPPE Boss Tells FG

 

Mohammed Shosanya

 

 

The Chief Executive Officer of Centre For The Promotion of Private Enterprise,Dr. Muda Yussuf, has emphasized the need for the Federal Government to prioritize power, logistics,foreign exchange and security issues in order to tame the rising inflation in the country.

 

 

 

He said:”It will be very difficult to tame inflation if we do not substantially fix power, logistics and forex and security issues.

 

 

“Regrettably, there are no quick fixes in these areas. But it is important to prioritize these issues and drive accelerated progress with the right strategies”.

 

 

His suggestion came on the heels of resurgence of high inflationary pressures after some few months of respite despite policy measures to tame inflation.

 

 

 

Headline inflation rose to 32.7% in September 2024 as against 32.15% in August 2024, an increase of 0.55%.

 

 

 

There was also a marginal increase of 0.30% in month-on-month inflation between August and September.

 

 

 

Food inflation maintained its uptrend rising to 37.77% from 37.52% after decelerating in few months ago.

 

 

 

He lamented that the situation had been further exacerbated by the surging petrol price.

 

 

 

He added:”The reality is that the dynamics driving inflation are yet to be effectively subdued. These factors include the depreciating exchange rate, surging fuel price, rising transportation costs, logistics and supply chain challenges, high energy cost, climate change including resultant incidents of flooding, insecurity in farming communities and structural bottlenecks to production.

 

 

 

 

“These are largely supply-side issues.There is also the factor of seasonality of agricultural outputs which activates seasonal price surge in some food crops. Elevated inflationary pressures escalate production costs, weakens profitability, and dampens investors’ confidence.

 

 

 

“Not many investors can transfer cost increases to their consumers. The implication is that manufacturers and other investors are taking a big hit resulting from erosion of profit margins as a result of consumer resistance and weak purchasing power”

 

 

 

According to him,tackling inflation requires urgent government intervention to address the challenges inhibiting production, productivity and security in the economy.

 

 

 

 

He suggested that the real sector of the economy needs to be incentivized to reduce production costs.

 

 

 

He also advised the government to offer concessionary import duty on intermediate products for industrialists.

 

 

 

The effects of high energy cost and exchange rate on inflation is quite significant, he added.

Online Editor by — October 17, 2024 in Business 0