Dipping figures of coronavirus disease (COVID-19) cases in Kano State is generating mixed feelings amid growing concern on the credibility of the results being released by the authorities. Against the astronomic rise of active cases of the deadly virus across 34 states and Federal Capital Territory, Kano is incidentally witnessing unprecedented fall in the COVID-19 curve, at least in the last two weeks. Kano recorded its index case on Saturday, April 11, 2020, when a retired ambassador who had visited Abuja, Lagos and Kaduna, tested positive for COVID-19. Few days after the first case, record of positive cases from Kano shot up astronomically. But Governor Abdullahi Ganduje has attributed the decline to fast acceptance of residents to the reality of the virus.
Loses 2.9 million barrels in two monthsThough Nigeria’s cost of oil production is currently above $20 per barrel, the Nigerian National Petroleum Corporation (NNPC) yesterday said efforts were ongoing to crash the fee to $10. The corporation’s Group Managing Director, Mele Kyari, in a report in Abuja, stated that the operating cost across the nation’s upstream production remained unacceptable. According to Kyari, the performance for the first quarter of this year necessitated further cost optimisation. Kyari stated that the nation’s oil prices have gone down to sub-$10 per barrel due to the economic impact of the novel coronavirus, worsened by crude oil supply and demand imbalances. The GMD added that crude oil production charge among producers and gradual reopening of economies across major energy consumption centres were helping the recovery of the market.
Pantami, who expressed delight at the increase, noted that higher focus on ICT would drive the country’s target of achieving a digital economy in no distant time. His Technical Assistant (Information Technology), Dr. Femi Adeluyi through his Twitter handle @DrIsaPantami at the weekend cited National Bureau of Statistics (NBS), which released ‘Nigeria’s Gross Domestic Product Report’ for Q1 2020 recently. The report revealed that the country’s GDP grew by 1.87 per cent (year-on-year) in real terms in Q1 2020, adding that the non-oil sector contributed 90.50 per cent to the GDP in Q1 2020 as against 9.50 per cent the oil sector contributed to total real GDP. Pantami noted that the growing contribution of the ICT sector to the GDP was a direct result of the President Muhammadu Buhari administration’s focus and commitment. “Federal Government’s strategic policy directions include inclusion of Digital Economy in the mandate of the Ministry, unveiling and implementation of the National Digital Economy Policy and Strategy and the National Broadband Plan, among others.
They said it is important that professionals in construction industry get ready for likely Post CoVID-19 issues. “The construction industry will be affected mostly because of the diverse nature of activities which is a common feature of the industry. He specifically listed construction contract, labour only contract, sub-contract, maintenance contract, supervision contract, and facility management contract and others as areas where dispute could arise. Owojori said the defenses likely in the post-covid-19 pandemic court cases for builders could include, Court Majeure like an act of God and unforeseen circumstances that must have provision in the contract. For instance, he said new byelaw or policies in a state that could make the contract impossible is a good defense.
June 01, 2020 04:16 UTC
The financial instrument attracts 11 percent interest and minimum subscription of N10,000 in order to encourage retail investors. “ The Institute hereby encourages investors to approach their Stockbrokers to learn more about this instrument prior to making their investment decision. “ Sukuk Ijarah is a fixed income security backed the Federal Government. It is a risk management instrument which is ideal for both speculators and investors. “ The Institute encourages the public to visit the website www.cisinigeria.com or that of The Exchange and FMDQ to learn more about the authorized stockbrokers to approach.“, according to the statement.
Some teams in the Nigeria Professional Football League (NPFL) are set for a showdown with the League Management Company (LMC) over plan to end the season abruptly. but some of the managers are against any of these options, claiming the league body would have favoured some teams ahead of others. “The first three options are unfair as they amount to robbing Peter to pay Paul and endangering the lives of actors involved in the league. Such accumulation of outstanding games in itself is a means of taking advantage over other clubs,” he added. “We will be meeting on Monday (today) to look at all the options and come up with our stand.
Pastor of the Household of God Church, Lagos, Reverend Chris Okotie yesterday restated his earlier viewpoint that the Christian Association (CAN) cannot speak for Christians, especially as it concerns their well being in the COVID-19 era. In a statement issued yesterday by his Media Adviser, Ladi Ayodeji, he said “CAN is an amorphous organisation sustained by a Christian appellation. It is bereft of any authority to speak on behalf of the Church of Jesus Christ. Jesus is Lord.”Okotie also condemned CAN’S proposed recommendations of distancing in the seating arrangement in churches as “blasphemous infidelity” and desecration of the Church of Jesus Christ. He explained that he was in total support of social distancing and other safety measures ordered by the Federal Government to contain the spread of the COVID 19 pandemic.
Despite the challenging operating environment in the country, underwriting companies in the nation’s insurance industry are beginning to attract more investors across continents through their 2020 financial performance, in a bid to move the sector into a greater height. Ahmed, said in its unaudited financial report 2020, that a Gross Written Premium (GWP) of N21.08 billion as at March, 2020 up by 21% from N17.42bn in same period in 2019. The company’s Net Premium Income also grew N8.25 billion, up 39% from N5.95bn in March 2019. “The profitability recorded during the first quarter also cut across P and C, Life and Health portfolios. This will continue to be our focus as we navigate through the challenges brought on by the pandemic.
While gross written premium grew to N4.82 billion from N4.54 billion in 2018, representing a 6.34 percent increase in top-line performance for the period. Total assets grew by 8.35 percent from 11.2 billion in 2018 to 12.1 billion in 2019. On the other hand, Underwriting expenses decreased by 4.14 percent from N2.52 billion to N2.41 billion while Management Expense increased by 6.6 percent, from N1.3 billion to N1.4 billion. There was also 11 percent growth on return on equity while more than 100 percent of the company’s written premium was earned. One of the policy-holders in the industry that commented on the result said that the firm’s assured investors of its 2019 financial results, despite the challenging operating environment.
The minister, who said he was not averse to the contract extension, insisted that Nigerians must get results if the German coach must stay as the country’s head football coach. “Rohr is in a better place to excel to any level with Super Eagles at this moment based on the abundant young talents within and outside the country aspiring to play for the Eagles. “When Rohr was dropping and selecting players in different games to get the best for the Super Eagles, some people castigated him that he did not have a team yet. “The NFF and football loving Nigerians should give Rohr the best support to succeed. He, in turn, should be focused to redeem Nigeria’s image in world football.”
It was commendation galore and a reflection on life at the eight day fidau prayers held at the weekend for the deceased monarch, the Oniba of Iba land, Oba Yushau Goriola Oseni, who joined his ancestors at the age of 77. His daughter and chairman of Iba LCDA, Princess Ramot Rachel Adedayo Oseni, said: “I will miss everything about my father. “Before his death, he assisted the local government to acquire a plot of land for the establishment of a secondary school in Iba. He was so passionate about development and would say Iba as the head of communities in Iba LCDA should have a secondary school of its own. He was always saying he looks forward to see us reach our heights even beyond being a council chairman.
Ogun State Attorney-General and Commissioner for Justice, Mr. Akingbolahan Adeniran (SAN), has said that the legal sector in the state is strategising on the appropriate model law to accelerate justice delivery during and after COVID-19 pandemic. Fagbohunlu, who stated this during a virtual workshop with the theme: “Civil Justice Reform: Imperatives During and After COVID-19” organised in collaboration with the CRID-LawNet and Justice Reform Project said it was imperative to reopen the courts after the lockdown but with a determination to reform the civil justice system. In attendance were Akwa Ibom State Attorney-General and Commissioner for Justice, Uwemedimo Nwoko; the CRID-LawNet President, Mr. Tayo Oyetibo (SAN); the convener, the Justice Reform Project, Mr. Yemi Candide Johnson (SAN); Justice of the Supreme Court of Nigeria, Justice C.C. He noted that the group had collaborated to promote civil justice development and to ensure that the administration of civil disputes be treated efficiently and economically. That public health imperative means that we have to find solutions to essential services notwithstanding and therefore this is the birth of a remote hearing.
The Federal Government has blamed the delay on works on the closed Alaka Bridge in Lagos on the coronavirus pandemic. The bridge constructed over 40 years ago, stretches through Alaka through Costain linking Eko Bridge in Lagos was shut for repairs to prevent its total collapse. Federal Controller of Works in Lagos, Mr Kayode Popoola, who disclosed this to The Guardian , however, promised that the process of the contract award is on and will be made known soonest. Both the federal and state governments said the emergency closure was precautionary to prevent the total collapse of the bridge. It was gathered that government technical team from both Lagos State Ministry of Works and its federal counterpart, including the transportation, the Federal Road Safety Corps and the Lagos State Traffic Management Authority, assessed the damaged portion of the bridge.
APC says allegations frivolous, means of distractionThe People’s Democratic Party (PDP), Lagos State Chapter, has asked the Independent National Electoral Commission (INEC) to disqualify the All Progressives Congress (APC) and Governor Sanwo-Olu from the 2023 election. The PDP accused the APC-led administration in the state of breaching the provisions of the Electoral Act on electioneering campaigns by campaigning for the re-election of Governor Babajide Sanwo-Olu for the 2023 governorship election in the state. “For clarity, the sponsored public announcements, jingles and newspaper adverts are clearly calling on the electorate to re-elect Sanwo-Olu and the APC on the basis of their perceived performances within first year. He added that the rising profile of Sanwo-Olu should give the moribund opposition party headache, especially the Lagos State government internationally-acknowledged response to the COVID 19 pandemic. We regard the press statement by the PDP as their usual tantrums, distractive politics and sound and fury meaning nothing.
The incident took place inside the Ikpoba Hill branch of Redeemed Christian Church of God, in Benin City, Edo State. She died on May 31, 18 days after, at the University of Benin Teaching Hospital. It was gathered that the Ikpoba Hill branch of the church where the incident occurred was on Sunday morning set ablaze allegedly by angry students of the university. According to a source, the church security officer had gone to collect keys to the church from its keeper when he was told that there was someone already in the church. He ran back to inform the keeper and his wife, who went to the church to meet her lifeless.