Business

High cost of living: List of places to buy Lagos discounted food items

High cost of living: List of places to buy Lagos discounted food items

Lagos State has unveiled a subsidised food initiative aimed at enhancing access to essential staples for its residents, as announced in a statement released by Gbenga Omotosho, the Commissioner for Information and Strategy, on Saturday. Commencing on Sunday, March 17, 2024, the initiative seeks to introduce a voucher system during its pilot phase to ensure transparency and prevent any potential exploitation. Initially, the programme will be operational at designated markets situated across five administrative divisions of the state. These include 27 locations in Ikeja, six in Lagos Island, nine in Ikorodu, five in Epe, and 10 in Badagry. Here’s a…
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Meet Ruby Onwudiwe, Tinubu’s new nominee to replace Urum Eke as CBN board member

Meet Ruby Onwudiwe, Tinubu’s new nominee to replace Urum Eke as CBN board member

President Bola Tinubu recently submitted a request to the Nigerian Senate, urging the confirmation of Dr. Ruby Onwudiwe as a member of the Central Bank of Nigeria (CBN) board of directors. In a letter directed to Senate President Godswill Akpiabio and presented during Wednesday’s session in Abuja, Tinubu emphasized the significance of Onwudiwe’s appointment in line with the stipulations of the CBN Establishment Act 2007. “I am pleased to nominate Dr Ruby Onwudiwe for confirmation by the senate as a member of the CBN board of directors,” Tinubu remarked. “It is important to note that Onwudiwe is being proposed as…
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BREAKING: Binance to depart Nigerian market, ends services in local currency

BREAKING: Binance to depart Nigerian market, ends services in local currency

Binance will discontinue all services for Nigeria’s fiat currency, the naira, amid an ongoing regulatory conflict in the country. The crypto exchange will automatically convert naira balances to USDT from March 8 at 8:00 a.m. UTC but will cease support for NGN deposits after 14:00 UTC today. Withdrawals will become unsupported after March 8 at 6:00 a.m. UTC. Posting on its website on Tuesday, Binance said the conversion rate for automatic conversions will be 1 USDT per 1,515.13 naira, according to an announcement. All spot trading pairs against the naira will be delisted on March 7 at 3:00 a.m. UTC.…
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N1,444.56/$: What rise in Customs duty mean on food prices in Nigeria

N1,444.56/$: What rise in Customs duty mean on food prices in Nigeria

There is no end in sight to food price increase as Nigeria continues to suffer a major rise in import duty which is now N1,444.56/$. This will inadvertently affect imported food and agricultural products, reports The ICIR. In the past few weeks, there has been a series of protests in different parts of the country, triggered largely by the high cost of living and uncontrollable surge in food prices. Nigeria is largely an import-dependent country with much of its agricultural products and raw materials for food and beverages majorly imported. Already, the Association of Master Bakers and Caterers of Nigeria…
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High Cost Of Living: Yobe Residents Go Spiritual, Seek Divine Intervention Over Hardship

High Cost Of Living: Yobe Residents Go Spiritual, Seek Divine Intervention Over Hardship

The United Marketers Association (UMAPO), Yobe state chapter, on Friday, organised prayers to seek divine intervention over the present economic hardship. Speaking at the prayer ground, Chairman of UMAPO Potiskum chapter, Alhaji Nasiru Mato, said the prayer was to seek God’s forgiveness due to the economic hardship in the country and ask Him the way forward. “The challenges of high cost materials such as food items and other things happened as a result of the fuel subsidy removal. Marketers are facing seriously challenges at this trying moment,” he said. According to Daily Trust, he called on federal, state and local…
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Dangote Refinery Set To Commence Operations As First Crude Shipment Arrives

Dangote Refinery Set To Commence Operations As First Crude Shipment Arrives

After a series of delays, the Dangote Refinery, a mammoth $19 billion project in Nigeria, is finally poised to commence fuel production as the first crude shipment arrives at the facility, marking a significant milestone for the country’s oil industry. Quoting industry sources and tanker tracking data, S&P Global, in a report on its website, spglobal.com, said that the OTIS tanker, carrying a 950,000 barrel cargo of Nigeria’s Agbami crude, set sail on December 6 and is currently en route to Lekki, the nearest land port to Dangote’s offshore crude receiving terminal. The tanker is expected to arrive on December…
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Multi-billion Naira Sun Heaven Hotels & Resort Umuahia Ready For Guests December 1

Multi-billion Naira Sun Heaven Hotels & Resort Umuahia Ready For Guests December 1

A multi-billion naira hotel, Sun Heaven Hotels & Resort, in Umuahia, Abia State is now ready to receive guests, according to the management of the hotel. “The doors of the hotel will be opened for business December 1, 2023”, the management said in a statement issued on Friday. The high-rise five-star hotel, with hundreds of lavished rooms and suites is located in an ambiance environment reflecting its high-end amenities and exceptional comfort. Sun Heaven Hotels and Resort, is located at Umuagu Ibeku Road, 440236, Umuahia, Abia state. Phone numbers: 09081255948, 0813 063 0979 and 0805 654 4263
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Abia-born Obinna Udensi emerges Chief Operating Officer of Frontline Homes

Abia-born Obinna Udensi emerges Chief Operating Officer of Frontline Homes

A prominent real estate development company, Frontline Homes has unveiled Mr Obinna Udensi as its Chief Operating Officer. THE WHISPERER reports that Mr Udensi hails from Elugwu Akanu Item in Bende L..G.A. of Abia State. Unveiling Mr Udensi on its official Instagram page, Frontline Homes described him as highly industrious and innovative. Read statement below: "In the dynamic realm of real estate, the emergence of transformative leaders is a testament to the industry's evolving landscape. Obinna Udensi, hailing from the rich cultural backdrop of Abia State and boasting a heritage deeply rooted in the industrious Igbo community, stands as a…
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FIRS commences direct collection of taxes from online gaming operators 

FIRS commences direct collection of taxes from online gaming operators 

The Federal Inland Revenue Service (FIRS) has stated that it has commenced the deduction of taxes at transaction points from Online Gaming Transactions using the Sentinal National Payment Gateway and Electronic Solution. In a Public Notice signed by its Executive Chairman, Muhammad Nami, the Service while directing full compliance by the online gaming community, explained that the Sentinal National Payment Gateway was a transaction processing system that enables Integrated Payment Services Providers to deduct taxes at the points of transaction and immediately remit the tax deducted to the government’s treasury. “The FIRS is automating the administration of tax on online…
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Air Peace Chairman, Onyema, Laments Bad Treatment Of Nigerian Airlines By Foreign Countries

Air Peace Chairman, Onyema, Laments Bad Treatment Of Nigerian Airlines By Foreign Countries

The Chairman/CEO of Air Peace Airlines, Allen Onyema, has lamented the bad treatment of Nigerian Airlines by foreign countries in contravention of the Bilateral Air Services Agreement.   Onyeama made the allegations during an interactive session with the Speaker of the House of Representatives, Rep. Femi Gbajabiamila, at the National Assembly, Abuja.   He said the Nigerian government was not deliberately denying foreign airlines of their funds as was being insinuated in some quarters, but that the foreign countries were the ones rather fleecing Nigerians by hiking the price of airfares and blaming it on their trapped funds in Nigeria.…
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