Monday, January 17Inside Business Africa
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Economy

FG Secures $700m World Bank Loan to Tackle Poor Water Supply

FG Secures $700m World Bank Loan to Tackle Poor Water Supply

Business, Economy
The federal government has disclosed that it has secured a $700 million World Bank loan for specific water projects around the country. The Minister of Water Resources, Alhaji Suleiman Adamu, made this known on Monday, during a chat with newsmen on the sidelines of the ministry’s inaugural awards ceremony of the Rewards and Recognition System in Abuja. According to Adamu, the federal government’s role was to support state governments, which he said have the lion’s share of the responsibility for water supply. “What Nigerians need to understand is that the federal government is not responsible for providing water in their taps, that is the responsibility of state governments and that is why we don’t have a Federal Water Board. “All the incentives like P-WASH (Plan – Water, Sani...
LASHMA, Senator Tinubu Enrol 1,300 Elders on Ilera EKO Health Plan

LASHMA, Senator Tinubu Enrol 1,300 Elders on Ilera EKO Health Plan

Business, Economy
The Lagos State Health Management Agency (LASHMA), in partnership with the Senator representing Lagos Central Senatorial District, Senator Oluremi Tinubu, has enrolled 1,300 elders on ILERA EKO Health plan. The General Manager, Lagos State Health Management Agency (LASHMA), Dr. Emmanuella Zamba, speaking at the 31st Town Hall Meeting and 10th Edition of the Elderly Citizens’ Assistance Scheme of Lagos Central Senatorial District held at Lagos Mainland Local Government Area, commended Senator Oluremi Tinubu, for her dedication towards ensuring that residents, including youths, women and elderly in her constituency, live a healthy life. Dr. Zamba said that Senator Oluremi Tinubu at every point in time, aside from providing grants to the beneficiaries of her various empowerment program...
NUFBTE warns FG about job loss over excise duty on carbonated drinks

NUFBTE warns FG about job loss over excise duty on carbonated drinks

Business, Economy
The National Union of Food, Beverage and Tobacco Employees (NUFBTE) has warned of massive job loss in the sector over the Federal Government’s proposed increase on excise duty on carbonated drinks. President of NUFBTE, Lateef Oyelekan, who stated this, said should the government go ahead with its plans, Nigerians would be the ones that would suffer the consequences as companies would have no choice than to lay off workers, reduce production lines or may even close down permanently. He revealed that companies in the sector are already looking outside Nigeria for alternate production of their products even as they plan to move to a more favourable business climate within the West African region. According to him, the union’s investigation revealed that more employers in the sector ...
Amid high food inflation, cost of feeding surges on gas, kerosene prices

Amid high food inflation, cost of feeding surges on gas, kerosene prices

Business, Economy
…Cooking gas surges by 78% within a year, kerosene 24.81% Notwithstanding the high food inflation in the country, Nigerians have continued to contend with the rising costs of making meals either at home or from commercial food vendors, going by the latest prices of gas and kerosene. In the absence of regular electricity supply, Liquefied Petroleum Gas (LPG) and kerosene are the major sources of cooking fuel for many Nigerians, but the rising costs have seen a growing percentage of households shifting to firewood and saw dust. The 2019 expenditure pattern report, which measures Nigeria’s spending pattern in both food and non-food items, revealed that of the total, 56.65 per cent of the household expenditure in 2019 was spent on food, with the balance of about 43.35 spent on no...
US Consulate Donates Broadcast Equipment to Radio Lagos/EKO FM

US Consulate Donates Broadcast Equipment to Radio Lagos/EKO FM

Business, Economy, Innovation
·        Sponsors Training on Identifying Fake News The United States Consulate General in Lagos has presented a set of broadcast equipment to Radio Lagos/Eko FM to promote media literacy, ensure fact-checking and counter misinformation in News and Programmes' productions. Speaking at the opening of the two-day training titled “Project Fact Check Nigeria”, organised by the West Africa Broadcast and Media Academy (WABMA) and supported by the United States Consulate General, Lagos, its Public Affairs Officer, Mr. Stephen Ibelli, said the initiative was to promote media literacy and help radio stations to conduct a full-fledged fact-checking in order to fight fake news in Nigeria. Ibelli&n...
LASG Holds Workshop on Business Policies to Promote MSMEs

LASG Holds Workshop on Business Policies to Promote MSMEs

Business, Economy, Innovation
As part of the commitment to promote sustainable and globally-competitive enterprises, the Lagos State Office of Sustainable Development Goals and Investment has organised a workshop to conduct the mapping and analysis of laws, policies and instructions for Micro, Small and Medium Enterprises (MSMEs) development and employment promotion in Lagos State. The initiative, which is a collaborative effort with Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), was designed to identify areas of policy deficiencies and encumbrances in the operation of MSMEs in Lagos State. The Special Adviser to the Governor on Sustainable Development Goals and Investment, Mrs. Solape Hammond, disclosed that ‪the potentials in the MSMEs sector in terms of wealth creation and employment generatio...
Security: Our Collective Responsibility – Sanwo-Olu

Security: Our Collective Responsibility – Sanwo-Olu

Economy
Lagos State Governor, Mr. Babajide Sanwo-Olu has declared that the security situation in Nigeria deserves the attention of all citizens. Speaking at the 6th biennial conference of NASFAT with the theme: “Security and Good Governance: Imperative for Faith-based Organisations”, the Governor noted that though security is the concern of government, it requires the support of citizenry to provide the partnership upon which the security apparatus is built. Sanwo-Olu, represented by the Deputy Governor, Dr. Kadri Obafemi Hamzat, at the event which took place at the Lagos State Secretariat Mosque Multipurpose Hall, Alausa, Ikeja, averred that the consistent weaponisation of religion, ethnicity and other areas of difference must stop if a virile nation is to be built. While stati...
Akpabio Seeks UN Intervention in Malaria Vacc Production

Akpabio Seeks UN Intervention in Malaria Vacc Production

Business, Economy, Health
The Honourable Minister, Ministry of Niger Delta Affairs, Sen. Godswill Akpabio, CON, has made a passionate appeal to the United Nations (UN) to consider giving the necessary support in the production of Malaria Vaccine to save millions of people that are dying from malaria related diseases every year in the Sub-Sahara region of Africa. The Minister made this statement when the Nigeria’s Permanent Representative to the UN, Prof. Tijjani Bande paid him a courtesy visit on Thursday 16th December, 2021, in his office in Abuja. Sen. Akpabio who explained that the Sub-Sahara region of the continent has long been tagged as the ‘white man’s grave yard’ due to the devastating effect of malaria disease has been neglected for the last fifty years of medical advancement while Covid-19 have att...
Special Adviser Urges LASRAB To Publicize Archival Materials on History of Lagos

Special Adviser Urges LASRAB To Publicize Archival Materials on History of Lagos

Economy
The Special Adviser to the Lagos State Governor on Parastatals Monitoring, Mr. Afolabi Ayantayo, has emphasised the importance of exposing Lagosians to the history of the State, as well as acquainting them with the various archival materials in its repository.  He said historical knowledge of the past is necessary for the present generation to appreciate the past, make the present worthwhile and also make informed decisions about the future.  Ayantayo spoke when he led officials of the Parastatals Monitoring Office (PMO) on a visit to the Lagos State Records and Archives Bureau (LASRAB) at Magodo, challenging the Bureau to devote more time to publicising the various archival materials available in its warehouse. He maintained that the dissemination should be geared towa...
FG approves €62m to procure transformers for Siemens power project

FG approves €62m to procure transformers for Siemens power project

Business, Economy
PPI is a power upgrade and modernization programme between the Nigerian government and Siemens with the support of the German government. Zainab Ahmed, minister of finance, budget and national planning, said this on Wednesday while addressing state house correspondents after the weekly FEC meeting in Abuja. In July 2019, the federal government signed a power project deal (PPI) with Siemens AG to increase Nigeria’s electricity generation to 25,000 megawatts (MW) in six years. In July 2020, President Muhammadu Buhari approved the payment of €15.21 million and N1.708 billion as counterpart funding for the PPI. Speaking on the recent development, Ahmed said $1.9 million will be used for payment of transactions advisors and third-party consultants for ...