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Home > Archives for > Page 66
Author

Folarin Kehinde

Folarin Kehinde

Business

MultiChoice Nigeria loses 243,000 subscribers as economic pressure bites harder

by Folarin Kehinde November 13, 2024
written by Folarin Kehinde

MultiChoice Nigeria’s subscriber base has shrunk by 243,000 amid the tough economic conditions in the country.

This was disclosed in the company’s interim financial report released on Tuesday, November 12.

According to the company, many of its subscribers in Nigeria have abandoned their decoders due to the tough economic situation in the country.

Meanwhile, overall group revenue at Multichoice fell by 10% to $1.41 billion on a reported basis but grew by 4% on an organic basis, which excludes the impact of foreign exchange effects and mergers and acquisitions.

Multichoice said subscriptions fell by 5% and 15% respectively in its South African and Rest of Africa operations.

It said profit was further hit by incremental investments in streaming platform Showmax, which Multichoice is prioritising to fight off competition from streaming giants Netflix, Amazon and Disney.

“Stripping out Showmax, the group would have seen reported trading profit increase by 28% on an organic basis,” the company revealed.

November 13, 2024 0 comments
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Headlines

Okpebholo takes over from Obaseki, sworn in as Edo Governor

by Folarin Kehinde November 12, 2024
written by Folarin Kehinde

Monday Okpebholo has been sworn in as the governor of Edo State, marking an end to the eight years administration of Godwin Obaseki in the South-South state.

The inauguration ceremony took place on Tuesday at the Samuel Ogbemudia Stadium in Benin City, the state capital.

This is coming two months after the All Progressives Congress, APC, clinched the ticket to the Dennis Osadebay House.

Okpebholo took his oath of office alongside his running mate, Dennis Idahosa.

More to follow…

November 12, 2024 0 comments
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Headlines

Oyo Governor Set to Present 2025 Budget on Wednesday

by Folarin Kehinde November 12, 2024
written by Folarin Kehinde

Governor Seyi Makinde of Oyo State is set to present the state’s 2025 Appropriation Bill to the House of Assembly on Wednesday.

It was gathered that the budget presentation by Governor Makinde before the Oyo State lawmakers will take place at the House of Assembly Complex, Secretariat, Agodi in Ibadan.

The budget presentation by the governor is a sequel to Stakeholders’ Consultative Forum Meetings that have occurred across the five zones of the state.

At the meetings over the 2025 budgets, there were inputs from several residents of the state.

Speaking on the implementation of the 2024 budget, Makinde said that its performance had hit 64 per cent by November.

November 12, 2024 0 comments
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Headlines

BREAKING: Abia State Government Declares Free Education

by Folarin Kehinde November 12, 2024
written by Folarin Kehinde

Abia State government has declared free and compulsory education for all children in the state, regardless of their state of origin.

The policy, set to commence by January 2025, will provide free education from primary one to Junior Secondary School three in all public schools.

According to Commissioner for Information, Prince Okey Kanu, parents and guardians who fail to comply with the new policy will face prosecution.

He made the disclosure while briefing the press after the State Executive Council meeting.

“In line with the Abia State Child’s Rights Law 2006, it will now be an offence for parents not to send their children and wards to school in Abia State.

“Education is free in Abia State up to the end of Junior Secondary School. There is no reason whatsoever why parents will not send their children to school.

November 12, 2024 0 comments
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Headlines

BREAKING: Explosion hits Jos, many feared injured

by Folarin Kehinde November 12, 2024
written by Folarin Kehinde

The city of Jos in Plateau State has been thrown into a state of confusion following an explosion on Tuesday morning.

The aftermath of the explosion was said to have sent shockwaves throughout the surrounding communities in the state.

According to an eyewitness, the explosion happened at about 10.30 am near the Terminus market area and in the process injured several people.

While some sources said that there might be fatalities, others stated that the level of damage caused by the blast could not be ascertained at the time of this report.

A cloth vendor, Gyang Buba who spoke on the incident said, “I was nearby when I heard a loud bang.

“I saw people running and screaming. It was terrifying,” Buba said.

In addition, relevant security operatives have reportedly rushed to the scene of the blast to assist victims.

The police command headquarters in Jos confirmed the incident stating that an investigation has been launched to ascertain the cause of the blast.

It said, “The area has been cordoned off as investigators begin to assess the situation. We are working to determine the cause of the explosion,” the source added.

“We urge calm and assure the public that we will do everything possible to ensure their safety,” the command headquarters said.

November 12, 2024 0 comments
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Headlines

BREAKING: FG bans Pilots, other crew members from operating multiple airlines

by Folarin Kehinde November 12, 2024
written by Folarin Kehinde

Licensed flight crew members have been banned from operating multiple airlines, the Federal Government of Nigeria has said.

In a restriction order issued by the Nigeria Civil Aviation Authority (NCAA), flight crew members and pilots have been restricted from rendering services to different airlines.

According to the NCAA, its findings show that pilots and crew members have continued to operate under several airlines.

In the circular NCAA/DGCA/AOL dated November 6, 2024, and signed by the acting director general of Civil Aviation, Captain Chris Najomo, the NCAA declared such an act illegal.

The agency said such action by crew members and pilots pose a safety risk.

The order said, “Instances where pilots operate for more than one airline concurrently without safety considerations of such actions poses a safety risk to the industry.

“The Authority will take appropriate enforcement action on violators of this directive, effective from November 11, 2024.

“Simulator renewals from henceforth will be tied to the Operator. Please comply accordingly,” the circular noted.

November 12, 2024 0 comments
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Tinubu
Headlines

Reclaim Oyo in 2027 – Tinubu charges APC members

by Folarin Kehinde November 12, 2024
written by Folarin Kehinde

President Bola Ahmed Tinubu has advised chieftains and members of the All Progressives Congress (APC) in Oyo State to close ranks and work together in order to reclaim the state in 2027.

He noted that the state is too important to be missing among the progressive fold.

Tinubu, who was represented by the Minister of Power, Mr. Adebayo Adelabu, made this assertion during the maiden edition of Lam Adesina annual lecture held in Ibadan, the state capital on Monday.

The event was attended by former governors of Ekiti State, Otunba Adeniyi Adebayo and Dr Kayode Fayemi, Senator Teslim Folarin, Senator Abdulfatai Buhari, Chief Iyiola Oladokun, Chief Alake Adeyemo and the APC Chairman in the state, Alhaji Olayide Abas.

Others are the Olubadan of Ibadanland, Chief Imam of Ibadanland, Apostle Sunday Popoola, Senator Olufemi Lanlehin, Barrister Bayo Shittu, Engr. Rauf Olaniyan, Elder Wole Oyelese, Hon. Aderemi Oseni, Sen. Adesoji Akanbi, Senator Monsurat Sunmonu, Chief Akin Oke and Professor Adeolu Akande.

Leading reporters reports that Adesina was the governor of the state between May 1999 and May 2003.

The APC lost the state to the Peoples Democratic Party (PDP) during the 2019 and 2023 general elections.

The minister noted that the best way to honor the former governor is to ensure that the leaders of the party work as one in a bid to reclaim the state in the next elections.

He said, “Lam Adesina stood for high democratic ideals that underpin the democratic system of government. Ideals that are essential for ensuring that power is held by the people, either directly or through elected representatives.

November 12, 2024 0 comments
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Business

Every Nigerian Now Owes About N620,000 – DMO

by Folarin Kehinde November 11, 2024
written by Folarin Kehinde

The debt management office (DMO) has stated that every Nigerian currently owes the sum of N620,000 adding that Nigeria’s public debt stood at N134.297 trillion as of the second quarter of 2024 (June, 2024).

A data review for the second quarter debt portfolio of the country released by the National Bureau of Statistics (NBS) has shown that the debt owed by every Nigerian on the average stood at N619,501.

According to the data published by the Debt Management Office, Nigeria’s public debt stood at N134.297 trillion as of the second quarter of 2024 (June, 2024).

With the National Bureau of Statistics putting the country’s population at 216.7 million persons, it would mean that debt per capita stands at N619,501 based on the latest debt figure released by the DMO.

Put into further context, each Nigerian owes nine times the newly approved minimum wage of N70,000, if debt per capita is put into context.

The debt data further shows that domestic debt stands at N71.2trillion, whole external debt stands at N63 trillion.

Of the amount owed, States owe N7.1 trillion externally while the federal government owes N55.8 trillion externally.

States owe N4.2 trillion domestically while federal government owes N66.9 trillion.

The new debt figure of the country put at N134 trillion is a N13 trillion increase from the N121 trillion recorded as of March 2024.

The development is amid clamour for less reliance on loans by the Nigerian government.

November 11, 2024 0 comments
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Business

BREAKING: IPMAN, Dangote Agree To Lift PMS, AGO, DPK Directly

by Folarin Kehinde November 11, 2024
written by Folarin Kehinde

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has secured an agreement with Dangote Refinery to lift products directly.

IPMAN National President, Abubakar Garima, announced this in Abuja on Monday after a meeting of the National Working Committee of the Association.

He said the partnership will ensure steady, and affordable supply of PMS products nationwide.

Girima said After meeting with Aliko Dangote and his management team in Lagos, “we’re pleased to announce that Dangote Refinery has agreed to supply IPMAN with PMS, AGO, and DPK directly for distribution to our depots and retail outlets.”

Garima urged IPMAN members to support Dangote Refinery, citing backward integration benefits and positive impacts on Nigeria’s Foreign Exchange market.

Regarding pricing, Garima expressed confidence that negotiations with Dangote would yield lower rates.

On Compressed Natural Gas (CNG), The IPMAN President said the Association is preparing for a seamless transition to CNG refill stations nationwide as it is currently negotiating with the presidential CNG initiative

This partnership is expected to increase efficiency, affordability, and economic growth for Nigeria’s petroleum industry.

November 11, 2024 0 comments
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Headlines

Saudi Summit: President Tinubu calls for immediate ceasefire in Gaza

by Folarin Kehinde November 11, 2024
written by Folarin Kehinde

President Bola Tinubu on Monday in Riyadh, Saudi Arabia called for an end to Israeli aggression in Gaza, warning that
“the conflict in Palestine has persisted for far too long, inflicting immeasurable suffering.”

Addressing the extraordinary Arab-Islamic Summit, convened to address the current situation in the Middle East, President Tinubu expressed deep concern on the humanitarian conditions in Gaza.

The one-day summit was a follow-up to the Riyadh summit last year, and was attended by Heads of State and Government of the Organization of Islamic Cooperation (OIC) and the League of Arab States.

Reiterating Nigeria’s call for an immediate ceasefire in Gaza, President Tinubu affirmed the country’s support for a two-state solution, where both Israeli and Palestinians can co-exist in security and dignity.

He noted that this solution remained a viable part to lasting peace in the region.

”The conflict in Palestine has persisted for far too long, inflicting immeasurable suffering on countless lives.

”As representatives of nations that value justice, dignity, and the sanctity of human life, we have a moral obligation to collectively bring about an immediate end to this conflict.

”It is not enough to issue empty condemnations. The world must work towards an end to Israeli aggression in Gaza, which has persisted for far too long.

“No political aim, no military strategy, and no security concern should come at the expense of so many innocent lives,” he said.

The Nigerian leader called on parties in the conflict in the Middle East to respect the principles of proportionality and the basic rights of civilians, consistent with global legal and diplomatic frameworks.

”In a rules-based international order, States have the right of self-defence. But self defence must take proportionality into account, in line with global legal, diplomatic – and moral – frameworks.

”An entire civilian population, their dreams and futures, cannot be dismissed as collateral,” he said.

Explaining Nigeria’s principled and consistent stance on the two-state solution, President Tinubu noted that it stands as a beacon of hope, representing the rights of both Israelis and Palestinians to self-determination and peace.

”It is not just a diplomatic article of faith; it is a vision grounded in the principles of equality and mutual recognition.

”Achieving this vision requires a commitment to dialogue and respect for history. We all know this conflict did not begin on October 7 in 2023. It can only be resolved through principled compromise, based on appreciation of the proper context.

”This conflict, in the cradle of history, is so visceral that the ripples of division spread far and quickly. The corrosive impact of the images of endless violence, repeated on a billion smart phones around the world is huge. We need to find new pathways to peace, without delay,” he said.

The Nigerian leader commended King Salman of Saudi Arabia and Crown Prince Mohammed bin Salman for convening the summit, describing it as a vital opportunity to renew diplomatic efforts and work toward a sustainable peace.

He assured that Nigeria given its own experiences would continue to support international efforts that advance peace and stability in the Middle East.

”Our own experiences, domestically and regionally, have taught us that identity politics are no substitute for respecting the nuances of diversity,” he said.

According to President Tinubu ”the path to reconciliation may be fraught with challenges, but it is through honest conversation that we can foster understanding.

”The international community has the opportunity to bring to bear new thinking on this most relentless challenge.

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