Retirement: Evaluating PenCom’s safety net for informal sector

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For those in the informal sector of the economy, the plan by the Federal Government to get them adequately integrated into the nation’s financial system recently took another leap with the micro-pension plan initiative. Sunday Ojeme reports For a long time, operators in the the various financial institutions have designed products and deployed same to get the grassroots fit into the financial inclusion plans of government. Such efforts led to the establishment of sub-banking sectors like the defunct community banks, series of saving scheme arrangement, micro-finance banks as well as…

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Dangote Cement to attract $700m into economy

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•Pays N16 dividend The Chairman of Dangote Cement Plc, Aliko Dangote, has promised that the expected increase in export of cement will attract a minimum of  $700 million into the economy. Disclosing this yesterday during the company’s 10th Annual General Meeting in Lagos, he said the foreign exchange inflow would assist the Federal Government as well as Dangote Group in its other activities across Africa. The chairman, who described the shareholders and staff as the bedrock of the company, also promised to pay N16 per every 50k share as dividend.…

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NBS: Kerosene consumers paid less in May

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Consumers of household kerosene paid lower price for a litre of the product at  N315.91 in the month of May as against April’s N316.26, according to pricewatch released by National Bureau of Statistics (NBS) on Tuesday. States with the highest average price per litre were Anambra (N363.54), Ebonyi (N355.00), and Plateau (N351.85). States with the lowest average price per litre were Abuja (N291.67), Katsina (N290.67) and Gombe (N265.39). Similarly, average price per gallon paid by consumers decreased by -0.12 per cent month-on-month and increased by 23.07 per cent year-on-year to N1,…

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Baru tasks NUJ on petroleum product smuggling

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. Crude production steady at 2.3mbpd Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has called on members of the Nigerian Union of Journalists to join the corporation in naming and shaming cross-border smugglers of petroleum products. Baru, made the call when he played host to the national leadership of the NUJ led by its President, Mr. Chris Isiguzo, at the NNPC Towers in Abuja on Tuesday. The NNPC helmsman said the activities of cross-border petroleum products smugglers had caused much hardship for Nigerians and robbed…

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NNPC’s engineering subsidiary, NETCO, records N6.758billion profit

Stella Ofiko

The National Engineering and Technical Company of Nigeria (NETCO), the engineering subsidiary of the Nigerian National Petroleum Corporation (NNPC), on Tuesday posted a profit before tax of N6.75 billion for the year ended December 31, 2018. The figure represents an increase of 107 per cent over the N3.26 billion recorded in 2017. Profit after tax stood at N4.597billion compared to N2.483billion recorded in 2017. This was disclosed in a release by the Group General Manager, Group Public Affairs Division, NNPC, Mr. Ndu Ughamadu. Speaking at the Annual General Meeting of…

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Lagos entertainer shoots driver at party

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A Lagos-based commercial bus driver got more than he bargained for at the weekend when a celebrity popular called Aremo Gucci shot him on his ankle during an open party in Lagos. Trouble started after the open air party organised at Brainfield Event Centre along LASU/ISHERI road had ended and organisers and guests were trooping out when suddenly Gucci’s vehicle was, as usual, besieged by a group of street urchins popularly known as Area Boys. As soon as he noticed the crowd around him, and in order to find his…

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Enyimba beat Akwa United to win league title

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Enyimba on Wednesday in Lagos won a record eighth Nigeria league crown. The victory qualifies them to represent the country in the 2020 CAF Champions League. ‘The People’s Elephant’ beat Akwa United 3-0 at the Agege Stadium to record an unassailable 12 points from five matches in the championship playoffs. Goals by Reuben Bala, Stanley Dimgba and Abdulrahman Bashir gave the two-time African champions a deserved win over front runners Akwa United, whose Brazilian coach Rafael Everton was conspicuously missing on the bench today. Enyimba are now Nigeria’s most successful…

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Women’s World Cup: Falcons beat South Korea 2-0

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The Nigeria Super Falcons took their chances against the run of play on Wednesday to beat South Korea 2-0 for rare success at the women’s World Cup to set themselves up to advance to the next stage of the tournament in France. A first half own goal at the Stade des Alps and a breakaway attack, brilliantly finished by Asisat Oshoala, ensured the Africa champions only their fourth win in eight World Cup finals appearances and a chance to go to the second round for just a second time. The…

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Couple found dead in hotel room

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An American couple found dead in their Dominican Republic hotel room while on vacation last week both suffered from respiratory failure, the country’s national police said. According to HUFFPOST, Edward Nathaniel Holmes, 63, and Cynthia Ann Day, 49, of Prince George’s County, Maryland, were reportedly found unresponsive in their room Thursday at Grand Bahia Principe Hotel in La Romana, roughly 75 miles east of Santo Domingo. Hotel staff members discovered their bodies in the room after the couple missed their scheduled checkout time and immediately contacted the local authorities, according…

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Rebranding: Why Nigerians need insurance

Sunday Ojeme

Barely two weeks after the insurance industry regulator, National Insurance Commission (NAICOM), announced a new capital base, operators in the industry have also intensified efforts at getting Nigerians from all walks of life, irrespective of gender and status to imbibe insurance as a lifestyle. Sunday Ojeme reports Again, insurance industry operators are intensifying efforts at giving more Nigerians the positive option of spending a little of their income on insurance as a platform for  recovery than suffering entire loss in the event of a disaster. The latest development, coming weeks…

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