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News Headlines: Mother sacked by flood, trapped after delivering triplets in Delta, OPS counts losses, asks govts, banks to support victims, FG grappling with weak economy, says Minister …

Business 360 by Business 360
October 27, 2020
in News
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News Headlines: Mother sacked by flood, trapped after delivering triplets in Delta, OPS counts losses, asks govts, banks to support victims, FG grappling with weak economy, says Minister …

Mother sacked by flood, trapped after delivering triplets in Delta

A mother of five, Mrs Yalere Tebeka-emi, kicked out with other members of her family from their residence by ravaging flood at Kpakiama community, Bomadi Local Government Area, Delta State, has been stuck at a traditional delivery home in Bomadi town after giving birth to triplets.
In an appeal to the Governor of Delta State she called for help as the family have been confined to the delivery room since her delivery on 13th October 2020.
“Now, we are still in this little delivery room, we cannot go back home because it has been overrun by the flood. We are battling hard to survive here with the babies. This is my sixth birth, we had five kids before these triplets. “I want to appeal to Gov Ifeanyi Okowa to please help us because it’s not easy for us. ‘’

Irate youths defy 24-hour curfew, vandalise Taraba Radio station

Hundreds of irate youths on Monday defied the 24-hour curfew imposed on Jalingo, invaded and vandalised the State Radio station. The state Commissioner of information and re-orientation, Mr Danjuma Adamu, who visited the Taraba State Broadcasting Corporation (TSBS) premises to inspect the damage done to the station, condemned the action of the youths, saying the destruction had gone beyond #EndSARS protest.

Low passenger volume as domestic flights resume fully

Domestic flights have resumed at Nigeria’s busiest airport, the Murtala Mohammed Airport, Lagos, but on a slow start. The Lagos State Government had placed a three-day curfew in the state in a bid to address the violent protests that erupted in the country’s commercial city following the recent #EndSARS demonstrations. The curfew warranted the halt of domestic flight operations into and out of the busiest airport in the country, a development that led to less traffic in other airports across the country.

OPS counts losses, asks govts, banks to support victims

Members of the Organised Private Sector have appealed to the Federal Government, state governments and commercial banks to support businesses that have been plundered, looted or vandalised across the country. Specifically, the Lagos Chamber of Commerce Industry and the Manufacturers Association of Nigeria stressed that the hoodlum attacks on properties and livelihood had a serious economic impact on the country.

Discos didn’t remit N119.88bn in three months – NERC

The 11 power distribution companies operating in Nigeria failed to remit N119.88bn in the first quarter of the year, the Nigerian Electricity Regulatory Commission has said. In its quarterly report for the first quarter released on Monday, the power sector regulator said the Discos did not make the required remittance to stipulated agencies in the industry.

Minister says $5.8bn Mambilla power project idle, senators kick

Members of the Senate Committee on Power expressed anger on Monday when the Minister of Power, Mamman Saleh, said the $5.8bn Mambilla Power Project had yet to take off. The committee was also expressed surprise over the submission of the Managing Director of Transmission Company of Nigeria, Sule Abdulaziz, on the poor funding of the power sector. Abdulaziz had said out of N165bn required for capital project in 2020, only N4bn envelope had been released, while N3bn had been cash backed. The revelations were made during the budget defence session which the minister and the TCN MD had with the Senate Committee on Power.

CAP set to merge with Portland Paints

The Boards of Directors of Chemical and Allied Products Plc and Portland Paints and Products Nigeria Plc have taken a decision to merge their respective businesses in accordance with applicable laws. This will lead to the emergence of CAP as the resultant entity in the proposed merger, according to separate statements issued on Monday. The proposed merger is subject to the required regulatory and corporate approvals being obtained.

FG grappling with weak economy, says Minister

The Federal Government has admitted it has been grappling with weak economy since 2016 when Nigeria slipped into recession with a Gross Domestic Products (GDP) tapering around 2.6 per cent in 2019. Speaking at the 3rd Shell Company in Nigeria’s Ethics and Compliance Day, in Abuja, Minister of State, Budget and National Planning, Prince Clem Ikanade Agba, said that International Monetary Fund (IMF) predicted that Nigeria’s economy will contract by 4.3 per cent in 2020, lower than the 3.5 per cent negative growth it had earlier estimated for the country in April, 2020.

MTN Nigeria appoints Toriola CEO designate

MTN Nigeria has announced the appointment of Mr. Karl Toriola as the CEO designate. His appointment would take effect effect from March 1, 2021, providing enough time for an orderly handover. Toriola is currently the Vice President: West and Central Africa (WECA), excluding Nigeria and Ghana, a position he assumed in 2016. During that period, he has overseen the steady progress of the operating companies in the region, notably the turnaround of MTN Ivory Coast and MTN Cameroon. During his tenure, the WECA markets have made significant commercial and strategic strides.

FG pledges support for SIFAX Group’s new container terminal

The Federal Government has promised to support the newly-opened SIFAX Group’s terminal in Lagos. SIFAX Container Terminal located at Ijora, Lagos, was established to address the challenge of traffic congestion around the Lagos ports. Its vantage position being on the fringes of the port environment, will allow it receive consignments from both Apapa and Tin Can Island ports through barges, without the complications of traffic congestion that has adversely affected businesses and port activities.

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