Yemisi Izuora Leading energy and infrastructure conglomerate, Sahara Group, Egbin Power PLC, a Sahara Group company, and the Nigerian Conservation Foundation (NCF) have commenced a partnership geared towards the establishment of a nature reserve in Ikorodu to promote environmental sustainability. Ikorodu is a coastal city in Lagos, Nigeria which is home to Egbin Power, the largest privately run thermal plant in sub–Saharan Africa that serves over 30 million households in Nigeria. Ejiro Gray, Director, Governance and Sustainability, Sahara Group said the reserve would serve as a sanctuary for animals and plants as well as a carbon sink to help…
Author: Orientalnews Staff
Joseph Bakare The National Agency for Food and Drug Administration and Control (NAFDAC) has confirmed that Indomie Instant Noodles produced in Nigeria is safe. The Director-General,NAFDAC, Prof Mrs Mojisola Adeyeye disclosed this in a reaction to information circulating about a purported ban. The Agency is probing the reported discovery of a harmful substance in the product after probes by the authorities in two Asian countries. “NAFDAC has registered several local manufacturers and the Indomie noodles have been certified safe for consumption,” Adeyeye noted. “NAFDAC did not ban Indomie Instant Noodles produced in Nigeria…The Taiwan and Malaysia noodles…
Yemisi Izuora AIICO Insurance Group, has recorded a 28.1 per cent year-on-year increase in group revenues to ₦14.8 billion for Q1 2023, up from ₦11.5 billion in the same period last year. The company also reported a 28.7 per cent growth in premiums written to ₦31.7 billion under the IFRS 4 standard. The insurance service result, which is the insurance revenue less expenses, increased by 318.0 per cent to ₦1.95 billion in Q1 2023, up from ₦466 million in Q1 2022, primarily due to the increase in revenue during the quarter. As a result, the total income, or net…
Richard Ginika Izuora India’s job seekers is rising as the country’s unemployment rate reportedly hit a four-month high in April. It rose to 8.11 per cent from 7.8 per cent in March primarily because of a rise in India’s labor force participation rate (LFPR), according to Mahesh Vyas head of the Centre for Monitoring India Economy (CMIE). At the same time, jobs creation to meet the demand for swelling workforce has been inadequate. This also worsened the joblessness rate in the country. LFPR is the estimate of the country’s active workforce above 15 years of age. For instance, when…
Valentine Okafor The US Federal Reserve has announced a benchmark interest rate hike by another 25 basis points. The last time the Central Bank hiked rate was in March, even after the failure of Silicon Valley Bank. Then, the Fed said it anticipated that future interest rate hikes would be needed. This time around, the Government changed the language in its monetary policy statement to say only that it would factor in the lagged effects that its policies have in determining whether or not to hike rates again. “Tighter credit conditions for households and businesses are likely to weigh…
…Moves To Bring Them Home Francesca Odimgbe The National Agency for the Prohibition of Trafficking in Persons (NAPTIP), is investigating reports of how Nigerian women are being exploited in Iraq. The Agency has raised alarm on the plight of Nigerian young women working as domestic workers in Iraq. Most of the Nigerian young women working there are exploited in diverse ways on daily basis and now requesting for assistance to return home. The Director-General of NAPTIP, Prof Fatima Waziri-Azi who raised the alarm disclosed that the Agency is currently investigating several rogue labour recruiters who have been reported…
Richard Ginika Izuora Nigerian Agip Exploration, a subsidiary of Italy’s oil and gas giant Eni, has executed another short-term contract extension to BW Offshore for one of its floating, production, storage and offloading (FPSO) vessels, which is working on an offshore field in Nigeria. BW Offshore revealed that it had signed a new short-term extension for the Abo FPSO, allowing the vessel to work on the Abo field until 31 May 2023. The FPSO has been carrying out operations on the Abo field with Eni’s Agip since the start of production in 2003. The previous contract extension expired on…
Yemisi Izuora The Telecommunication and Technology Sustainability Working Group (TTSWG), has come together to review its activities just as it Seeks Stronger collaboration towards sustainability in the country’s tech sector. The Committee is a multi-stakeholder network of corporate organisations promoting sustainability in the Nigerian ICT sector. The activity review was part of the its quarterly Board meeting held in Lagos, Nigeria. The meeting, which is the first physical Board meeting of the TTSWG as it works assiduously to be the go-to hub for tech sustainability leadership, was presided over by the Chairman of the Board, Engr. Mohammed…
Richard Ginika Izuora The Nigerian National Committee of the Vienna-based International Press Institute (IPI) has asked the in-coming administration that will be inaugurated in Nigeria on May 29 to commit to creating a better operating environment for journalists and media organisations. The Committee made the demand as the world celebrates the occasion of commemoration of the 2023 World Press Freedom Day. In the past few years, cases of media and journalists’ harassment have been rampant. These violations include arrests, physical attacks, denial of access, threats, equipment damage, equipment seizure, lawsuits and high-handedness and arbitrariness by some agencies of government.…
Yemisi Izuora The Nigerian Communications Commission (NCC) has informed the public of a fake LinkedIn account that is being attributed to its Executive Vice Chairman and Chief Executive Officer, Prof Umar Garba Danbatta. The Commission said the LinkedIn account is fake and has no affiliation with the NCC or Prof Danbatta. “We, therefore, urge the public to be wary of any communication or connection request from this fake LinkedIn account, as it is being operated by fraudulent individuals, who may be seeking to defraud unsuspecting members of the public. “We wish to use this opportunity to remind the public…