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Buhari leaves for germany today

Buhari leaves for germany today

BUHARI LEAVES FOR GERMANY TODAY

BY OMOKHUALE PUAH

As part of the goal of moving the country forward, the President of Nigeria, Muhammadu Buhari would Thursday, be on an official visit till Sunday at the Federal Republic of Germany.

The purpose of his visit to Berlin is to confer with the Federal Chancellor Angela Merkel on certain issues of shared interest between Nigeria and Germany which would include further cooperation on security, humanitarian situation of Internally Displaced Persons (IDPs) and the restoration of the North-East, including trade and economic relations of both countries.

In regards of the plans drawn by the president, he would be accompanied by the Governor of Borno state, Kashi shetima and the Governor of Imo state, Rochas Okoroafor, coupled with representatives of the National Assembly, to the Federal President Joachim Gauck.

Still as part of the administration’s vision, the President would be in Kaduna on Saturday with leading German companies who are already in Nigeria alongside other prospective investors so as to attract more foreign investment and create economic opportunities in Nigeria.

Still on his view of moving the nation’s economy forward, president Buhari before returning to Abuja would meet with the various Nigerian ambassadors in Germany.

His major purpose is to create and restore the cordial relations countries enjoy in the basic areas of bilateral cooperation with the Federal republic of Germany in areas of terrorism, economic relations, the support of IDPs, rebuilding of the North-east, vocational training, cultural relations and energy partnership.

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Fg embeds finance education in primary/secondary curriculum

Fg embeds finance education in primary/secondary curriculum

FG EMBEDS FINANCE EDUCATION IN PRIMARY/SECONDARY CURRICULUM

BY OMOKHUALE PUAH

In an attempt to improve the financial literacy of Nigerians, the Central Bank of Nigeria (CBN), in conjunction with the Nigeria Education Research Development Council (NERDC) would commence the teaching of financial education, for all levels of the Nigerian education system.

At a press briefing on Tuesday in Lagos, Haijia Umar Dutse who is the Director, Consumer Protection, CBN, announced that the essence of this move is to teach children on how to be better financial managers.

In the words of Haijia Dutse, “I cease this medium to thank the CBN and the stakeholders for the support they have given to undertake this project.

“Of course we know that financial education is not an activity an individual or an organization can effectively carryout, because its framework has taken the approach and so, all hands must be on deck so as to achieve an expected result. I am very happy saying that with the commitment of the various stakeholders, I think this has a long way to go and at the end of the year, this country will be a reference point with the development of the curriculum”. She said.

The executive Secretary, Nigeria Educational Research and Development Council (NERDC), Professor Ismail Junaidu said that one of the greatest lessons learnt from the recent global financial crises, resulting to the collapse of the Nigerian financial system of course lack of consumer and we are aware that the Nigerian Consumers lack knowledge and skill to enable them to understand financial concepts and to enhance their financial wellbeing by managing their personal financial matters.

In his words “As part of the efforts to address the issue on ground, the Federal Government had launched a National Financial Inclusion Strategy in 2012 which placed a high premium amongst the rest on financial literacy which is a measure route to the achieving this goal.

“The development of a financial education in both the primary, secondary and tertiary school curriculum has to be inculcated, in order to imbibe a desired financial habit in the minds of the citizenry from a very young age to adulthood to enhance good financial decisions” she added.

“Due to this huddle, the project of developing a financial school curriculum for our Nigerian Education at both basic and secondary school level is taking place under the auspices of the financial Group regulators; CBN, NDIC, PENCOM, NAICOM, NSE, GIZ, bankers committee, MercyCorps, NGOs and other stakeholders” he continued.

According to Professor Junaidu, the innovative curriculum which has been approved by the Federal Ministry of Education comprises of various themes as, money, savings, credit, insurance, deposit insurance, pension planning and budgeting, capital market, financial landscape and entrepreneurship.

He further added “each of this theme contains various concepts, activities, contents, learning resources and evaluation guides, which are sequenced and graduated for an effective implementation and learning objectives in their various lessons and schools”- Thisday.

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Local patronage, the escape from recession-buhari

Local patronage, the escape from recession-buhari

LOCAL PATRONAGE, THE ESCAPE FROM RECESSION-BUHARI

BY OMOKHUALE PUAH
The president of Nigeria Muhammadu Buhari says his greatest desire is to guide Nigeria into becoming an export based economy.

He made this remark on Monday at the 22nd Nigerian summit in Abuja, urging Nigerians to develop interest in indigenous products.

In accordance to his remark, there is no way we can achieve this without building the right economic foundation of patronizing our own products.

In the voice of the President,”My desire is that Nigeria moves from depending on imported goods to self sufficiency in local productions, becoming an export-led economy in goods and services “he said.

“Nigeria really has to diversify its economy so that we will not have to rely on another country to survive; we could produce our food, our textiles and other things we use, also creating the right environment for the young people to be able to benefit and create job through technology”.

According to President Buhari, who lauded the theme of the summit, ‘made-in-Nigeria’ “This theme continues to be a priority to the government and has been part of the many efforts made by the administration, to lay a solid foundation for the future” he clearly stated.

The minister of Budget and national planning, Senator Udoma Udo Udoma added that the summit would allow dialogue for both the private and public sector, since the public sector is beginning to accept the private sector as true partners in the development of Nigeria.

According to Senator Udoma, the government was already implementing policies focused at getting rid of the current economic recession.

In Udoma’s words, “Already, our focus is on agriculture which is beginning to yield fruit. This is an indication that there is a large growth upcoming in this third quarter.

“Even after we get out of recession, we would hold on to the implementation of our strategic implementation plan, which was launched by the government when the 2016 budget was signed into law.

“This plan will restructure our economy to the path of sustainable development as the SIP is anchored on the commitment of this administration to create a largely diversified, sustainable and inclusive economy that releases the latent potential of the Nigerian people, communities and natural resources endowment across the nation’s federating states”. He added.

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Fg guarantees fall in rice price

Fg guarantees fall in rice price

FG GUARANTEES FALL IN RICE PRICE

BY OMOKHUALE PUAH

The Federal government had on Monday said that the price of rice would fall in November this year.

This statement was made by the Minister of Agriculture and Rural Development, Chief Audu Ogbeh, during an address to the members of the Senate Committee on Agriculture and Rural Development at the ministry headquarters, in Abuja.

This statement was prompted by the decision of the government; the delay in the approval of the 2016 budget has made it impossible to implement the capital expenditure in the agricultural sector.

He stated that due to the rise in the price of rice, most Nigerians have returned to their various farms which make the price of rice at the next harvesting season, begin to crash.

Minister Ogbeh who stated that the government could not be involved in the importation of rice as speculated in some quarters, insisted that his ministry would not encourage rice importation because it would be preferred, to local production.

He further said that the Federal government was against the smuggling of rice, noting that the Borders of Seme has become a famous route for such contraband smugglings into the country.

In his words “We will not encourage the importation of rice, neither would the government in anyway be involved in it, because we are working really hard to be self-reliant in local production. By November, during the full scale harvest, the price of rice will fall” the minister said.

Though early last month the government warned that the price of rice could hit N40, 000 per bag as it still currently sold at N20, 000 per bag.

Senator Heineken Lokpobiri, the minister of state for Agriculture and Rural Development said that the $22bn annual food import bill had led to the sudden rise in the price of rice and other farm produce.

The state Minister of Agriculture maintained that if Nigerians failed to produce some of the items before the year ends, the price of rice would hit N40, 000 per bag.

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Nigerian Efcc, a complete fallacy- dame patience media consultant

Nigerian Efcc, a complete fallacy- dame patience media consultant

NIGERIAN EFCC, A COMPLETE FALLACY- DAME PATIENCE MEDIA CONSULTANT

BY OMOKHUALE PUAH

Former presidents wife, Dame Patience Jonathan says that the claims made by the Economic and Financial Crimes Commission (EFCC) on her about the $25 million traced to her accounts are lies.

In a statement made by her media consultant, Chima Osuji, during the weekend, it was said that the allegation of Dame Patience laying claim to ownership of a sum of $31.7 million fund, recovered by the EFCC was a complete fallacy.

As Dame Patience debunked the claim made by the EFCC, saying that the allegations were false and are targeted to hoodwink the public against her, her media consultant maintained the fact that Mrs. Jonathan has never owned such amount of money. The reason for the lie is best known to them.

According to the statement made by Mr. Osuji, another sum of $20 million was traced to Mrs. Jonathan again, which was another falsehood aimed at hoodwinking the public against her.

Mr. Osuji further defended in the statement, that the sum of $5 million which was also traced to her account is a fallacy, because in the claim it was said that Dame Patience opened accounts in various names; cooks, drivers and artisans. “This is the greatest falsehood to the knowledge of EFCC,” he said.

Following the statement in words “We have a whole lot of respect for the integrity and sanctity where this matters particularly, the trial is pending, but we are surprised to observe that EFCC the prosecutor of this matter does not have the same measure of respect for the Judiciary which is the bastion of hope for every citizen in the country”.

He further stated “We have received calls, text messages and news on Mass media against the Dame Patience, regarding fraud and other false statements daily by the EFCC in the court of public opinion so as to malign her.

“We are persuaded to respond to these lies disclosed by the EFCC in respect to the matter. We know that the purpose of this is to misinform the unsuspicious members of the public and beyond.

“It is unfortunate that the EFCC which belongs to Nigerians and whose delegation is to conduct a thorough investigation of cases brought to it has resorted in a greater disposition and propensity of engaging in media trials built on outright falsehood, dishing out to innocent persons” he complained.

“This case relating to Dame Patience is in absolute injustice and unfairness. We would like to remind all Nigerians that ‘injustice to one is injustice to all’ for on whom next the bell will toll, it important we emphasize the fact EFCC should desist from the media trials of innocent people, before trial in a court of law as included in the Constitution”, the statement added- Vanguard.

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Famine, flood and waterborne disease attacks delta coastline

Famine, flood and waterborne disease attacks delta coastline

FAMINE, FLOOD AND WATERBORNE DISEASE ATTACKS DELTA COASTLINE

BY OMOKHUALE PUAH

Delta State Coastline, Local government areas of Patani, Momadi and a part of Burutu has been crammed by famine and waterborne diseases.

Following this devastation of famine and water contamination by the perennial flooding, which overflows its banks, a community leader from Patani, Chief Richman Yinbiri, spoke with correspondence.

He said that farmers from Patani, Aven, Agaloma, Abare and Angiama were taken unexpectedly by the magnitude of the flood, making it difficult for them to rescue their various crops from the farmland.

According to Yinbiri, the situation was so tough; the water current became so high to an extent that it was announced within the vicinity that no one should venture into the high tide and such current areas to uproot tuber crops to avoid being drowned.

In the words of Yinbiri “because of the strict monitoring and compliance, most families are almost dying of starvation and even the few basic food items that managed to get into these affected areas such as garri, plantain, cocoyam, pepper and other farm produce have extremely increased in price”, he explained.

Bomadi Council Area has no difference in situation, as most of the communities including Ogriagbene, Esanma, Ogbein-ama, Akugbene, Okolaba and Ogo-Eze communities, with majority of their locals as farmers and petty fishermen were badly hurt by the flood, which out banked the River Forcados and River Ramos.

The immediate past community chairman of Esanma, Mr. Oyas Omoro, said that the flood did not only render Esanma residents homeless, but had also brought the waterborne diseases to the entire Delta Coastline communities.

Mr. Omoro complained in his voice “the only source of drinking water has been contaminated by the flood.

“To make things worse, the only accessible road linking this community with Gbaregolor has been cut off by the flood”, he said.

In addition, Mr. Omoro pleaded with the State Government and other well meaning Nigerians to come in aid of the Delta Coastline communities.

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National assembly questions Buhari’s administration

National assembly questions Buhari’s administration

NATIONAL ASSEMBLY QUESTIONS BUHARI’S ADMINISTRATION

BY OMOKHUALE PUAH

The President of Nigeria, Muhammadu Buhari has been passed a motion of invite by the National Assembly (NASS), to address the legislature on previous efforts made in order to get out of economic recession.

The motion which was passed on Thursday by the senate was in concurrence with the House of Representatives after a two day spanned debate at the floor of the lower chamber in Abuja, the National capital.

The Legislatives explained that there was a great need for President Muhammadu Buhari to clarify the entire state of Nigeria, in the sight of alleged conflicting signals entangling from various administrative officials, especially as regards the problems of economic recession.

According to members of the House of Representatives, it is imperative that President Muhammadu Buhari addresses a joint session of the National Assembly to outline plans to pull Nigeria out of recession.

The Minority Leader of the House, Toby Okechukwu and other lawmakers, Leo Ogor and Oluwole Oke, outlined the various factors they believed led to the economic recession.

Some of the issues outlined by the lawmakers were, Treasury Single Account Policy, Foreign Exchange Policy and the Structure of Nigeria.

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Go For Either of the Top 10 Management Event Companies

Go For Either of the Top 10 Management Event Companies

TOP 10 MANAGEMENT EVENT COMPANIES IN LAGOS

  1. REMOL EVENT MANAGERS

remol1

106, Saint Finbarrs College Road, Akoka, Lagos Mainland, Lagos, Nigeria

v  Dj

vEntertainment

vEvent Decorators

2. STORY PAGE LIMITED

storypage

2nd Floor, Garment Building, Lekki, Ibeju Lekki, Lagos, Nigeria

Event Decorators

Event Management

Wedding Planners

3. KING'S CROWN EVENTS VENTURES

kings crown

66, Adisat Fale Moshallashi Road, Igando, Amuwo Odofin, Lagos, Nigeria

vEvent Management

Floral Decorators

Party Rentals

4. ROSTAL FLOWERS AND ACCESSORIES

t4 tawosika wedding 254 2 600x399

37, Wempco Road, Plot 4, Ogba Ikeja, (Welmco Road), Ogba Road, Ikeja, Lagos Nigeria.

Children’s Party Planners

Event Decorators

Event Management

5. GAFF MULTIMEDIA

gaff

88, Victoria Street, Aggrey Road, Port Harcourt, Rivers Nigeria

Business Development Service

Children’s Party Planners

Event Management

6. FRANCBISS EVENT AND COOLING VAN SERVICES LTD

FRANCBISS EVENTS AND COOLING VAN SERVICES LTD

32 Road Festac Town Amuwo Odofin Lagos Nigeria

Event Management

Party Rentals

Event Accessories

77. EMERALD’S PLACE

emeraldsplaceevents03

192/194, Ikotun Igando, Alimosho Lagos, Nigeria

Cleaning Professionals

Event Decorators

Event Management

8. ERNY’S CAKES AND EVENTS

emys cakeXceptional Events Children birthday party planners Event Providing services at Other Abuja 1

1, Bolo Street/52 Bekwere Wosu Street, Portharcourt, Rivers Nigeria

Bakery

Event Management

Food

9. FOE EVENTS AND PARTY PLANNER

wedding event planners goa india

Block 54, Festac Extension, Amuwo Odofin, Lagos Nigeria

Bakery

Catering Institutes

Children’s Party Planners

10. CHIQUE BRIDALS

BjkfVfVv

54, Allen Avenue, Allen Avenue, Ikeja, Lagos, Nigeria

Bridals

Event Management

Wedding Planners

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Kerosene scarcity hits as petrol prices stabilize

Kerosene scarcity hits as petrol prices stabilize

KEROSENE SCARCITY HITS AS PETROL PRICES STABILIZE

BY OMOKHUALE PUAH

THISDAY’S Newspaper has the report that ‘the price of petrol at the various depots in Lagos has remained relatively stable, despite its looming scarcity raised by some major and independent markets’.

Due to the high cost of accessing foreign exchange, marketers alarmed in recent weeks that the N145 per litre pump price of fuel would not be sustained and that the new price which began effect in May 2016 was based on the exchange rate of N280 per dollar.

With the rise in the cost of dollar, the marketers argued that the price of petrol should also increase, so as to affect the prevailing exchange rate of over N400.

In accordance with the previous circular released by the PPPRA, the lower limit of the ex-depot price is N123.28 per litre while the upper limit is N133.28.

As scarcity of foreign exchange to fund importation increases with only a depot of stock at the weekend, the price of kerosene has risen to N180 per litre, THISDAY has it.

This was discovered before the previous price of depot rose to N188.50 in Eterna Oil depot, which sold at N165 per litre.

However, despite the alarm raised that the country was heading for a fuel crises, marketers retained their petrol price, below the upper limit of the indicative price band approved by the Petroleum Products Pricing Regulatory agency (PPPRA).

Mrs. Rahamanniya and Techno Oil sold at the weekend for the ex-depot price of N130.50 which goes above the upper limit approved by the PPPRA.

Noticeably, the price of kerosene has increased of recent, because only depot had stock during the weekend as one litre was sold at N188.50 which is above the previous N165 per litre. Currently with the high cost of kerosene at various depots, its pump price at retail outlets would be above N200 per litre.

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World bank refuses to loan nigeria until 2017

World bank refuses to loan nigeria until 2017

WORLD BANK REFUSES TO LOAN NIGERIA UNTIL 2017

BY OMOKHUALE PUAH

World Bank and other international lenders have refused to lend out money to Nigeria.

Embedded in a report from the Financial Times, it was discovered that the International Monetary Fund (IMF) and World Bank is demanding some financial reforms from Nigeria, before it could be granted a loan.

On Wednesday last week, the Central bank of Nigeria (CBN) made an attempt to lend a sum of N129.67bn in a short-dated Treasury bill from the World Bank.

In view of the attempted loan, the Apex bank said that it would raise N28bn in three-month paper, N33.49bn in six-month bills and N 68.18bn in one-year bills.

According to Apex bank, the nation’s interbank lending rates were flat at 15.25 percent for overnight lending that Friday, as the market liquidity dropped because of persistent sales of Treasury bills by the central bank.

Still on the trend, Reuters reported on Friday, that cash balance was not available with the central bank, but traders said that insisted that market liquidity should be below N100bn, due to consistent cash withdrawal by the CBN via Treasury bill sales.

Traders complained that the CBN had sold about N1.2trn in the Operations treasury bills at 14 auctions in one month at a bid to reduce liquidity in the banking system and curb pressure on the foreign exchange market.

On this note and others, the World Bank said it would no longer disburse loans until 2017 at the earliest.

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Devalue your naira to tackle recession, says eu

Devalue your naira to tackle recession, says eu

DEVALUE YOUR NAIRA TO TACKLE RECESSION, SAYS EU

BY OMOKHUALE PUAH

A part in the European Union (EU) has advised the Nigerian government to devalue its Naira, so as to tackle its Economic recession.

This was disclosed by a Councellor, Head of Trade and Economics Section of the EU, Fillippo Amato on Monday, in an interview with journalists.

It had been noted that the naira which currently trades between 311 and 475 to dollar at official and black market rate, accounts for a 100 percent increment in value since the Central Bank of Nigeria (CBN) removed its Peg on naira.

Following reports from the News Agency of Nigeria (NAN), the EU official said that recession could not be addressed by traditional tools.

Amato said that recession is a recent development which was caused by a great number of factors which includes falls in oil prices and resurgence of military in Niger Delta.

He stated in his words “for Nigeria to come out of recession, brave decisions must be taken by the country regardless of how unpopular they may be, such as ‘effectively devaluing the naira’.

“Naira devaluation is a great measure which will finally reassure investors and attract new capitals to the country”. He said.

“Devaluation would further help to reduce improve imports; removing artificial forex restrictions and removing potential scarce resources such as fuel subsidy.

“Improving security and ease of doing business are also key factors at which government must urgently work, so as to re-launch the economy” he added.

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Fx market traps naira to 480 per dollar

Fx market traps naira to 480 per dollar

FX MARKET TRAPS NAIRA TO 480 PER DOLLAR

BY OMOKHUALE PUAH

The Nigeria Currency, Naira has on Thursday pitched against the price of Dollar to a new record low of N480 per Dollar at against its previous price of N472 per dollar as at Wednesday.

A Dealer who sees the possibility in the soon fall of naira said in his words “dollar is very scarce in the market, because so many do not know the extent of its fall, in the near term. People tend to hold on to their hard currencies, in other to watch the direction of the market”.

Economic and financial analysts have linked the shortage in dollar to a wave of depreciation caused by a speculative attack on the naira and a high demand from companies and private individuals.

It was noted that after trading between N423 and N425 per dollar, for several weeks, the naira increased to N428 last Wednesday, which came a day after the Central Bank of Nigeria’s Monetary Policy committee retained the lending rate at 14 percent contrary to calls by the fiscal authority, economists and stakeholders.

Though analysts dismissed that the recent declines had links with the MPC's decision, which retained the lending rate at the current rate, but at the interbank market, on Thursday, the naira closed at 305.31/ dollar, up from 312.99 on Wednesday.

According to Gwadabe, the planned commencement of distribution of forex by Travelex could not hold due to some bottlenecks.

He said that Travelex, an international money transfer organization, ought to have begun the Forex distribution to the BDC operators on Monday, but was postponed to Wednesday which still did not hold.

Following the words of ABCON leader, the sale of forex to the BDC operators by Travevelex, would help to stem the tide of volatility in the exchange rate and subsequently close the gap between the official and parallel market rates.

Saying that the latest decline in the naira was as a result of the activities of speculators, He added that Travelex has the technology to sell Forex to about 1,000 BDCs in a couple of hours, which is a major advantage.

Mr. Kunle Ezun, a currency analyst at the Ecobank Nigeria, said in his words “these rising exchange rate currently at the parallel market, are not realistic, because it has to do with speculators.

“The fact that there is an acute and chronic shortage of forex cannot be over ruled, for there is a genuine demand which the supply cannot match, because inflows have dropped significantly”, Mr. Kunle added.

Gwadagbe further said “several sharp practices have been ongoing in the forex market and these elements want to continue making profits from the status quo, which is why it is speculating against the naira”.

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10 Top Eateries In Lagos State

10 Top Eateries In Lagos State

10 TOP EATERIES IN LAGOS STATE

1. HARD ROCK CAFÉ LAGOS

hardrock

Cuisines: American Bar Cafe European Pub

Rock ’n’ roll-themed chain with a high-energy vibe serving burgers & American classics.
Address: Plot No 3 & 4, Block XVI, Oniru Estate, Victoria Island, Near Landmark Centre, Water Corporation Road, Nigeria
Phone: +234 908 198 8888

Hours:

Thursday 12PM–1:30AM
Friday 12PM–1:30AM
Saturday
(Nigerian Independence Day)
12PM–1:30AM
Hours might differ
Sunday 12PM–12AM
Monday 12PM–1:30AM
Tuesday 12PM–1:30AM
Wednesday 12PM–1:30AM

 

2. ART CAFE

art cafe

Price: NGN 3,148 - NGN 7,869

Cuisines: Cafe Mediterranean European Vegetarian Friendly

Address: 282 Akin Olugbade St, Nigeria
Phone:+234 803 305 5901

Hours:

Thursday 7:30AM–10PM
Friday 7:30AM–10PM
Saturday
(Nigerian Independence Day)
10AM–10PM
Hours might differ
Sunday 11AM–9PM
Monday 7:30AM–10PM
Tuesday 7:30AM–10PM
Wednesday 7:30AM–10PM

3. SPICE BAR

indian food

Cuisines: Chinese Indian Asian

Address: 44A, Adeola Odeku Street, Victoria Island, Lagos, Lagos, Nigeria
Phone:+234 1 792 1111

4. OCEAN BASKET

ocean basket 7

Price: NGN 2,203 - NGN 6,295

Cuisines: Seafood

Modern chain restaurant with a cheerful vibe, serving up seafood, sushi and sharing platters.
Address: 1392 Tiamiyu Savage St, Nigeria
Phone:+234 816 059 1821
Hours:
Thursday 10:30AM–11PM
Friday 10:30AM–11PM
Saturday
(Nigerian Independence Day)
10:30AM–11PM
Hours might differ
Sunday 10:30AM–11PM
Monday 10:30AM–11PM
Tuesday 10:30AM–11PM
Wednesday 10:30AM–11PM

5. LAGOON RESTAURANT

lagoon

Price: NGN 7,869 - NGN 15,738

Cuisines: Indian Chinese Japanese Brazilian Lebanese Seafood Mediterranean Asian South American

Address: Ozumba Mbadiwe St, Nigeria
Phone:+234 706 666 3333
Hours:
Thursday 12PM–12AM
Friday 12PM–12AM
Saturday
(Nigerian Independence Day)
12PM–12AM
Hours might differ
Sunday 12PM–12AM
Monday 12PM–12AM
Tuesday 12PM–12AM
Wednesday 12PM–12AM

6. SHERLATON INDIAN RESTAURANT

sherlaton

Price: NGN 28,329 - NGN 29,902

Cuisines: Indian Asian Halal

Address: 21 Ahmadu Bello Way, Nigeria

Phone: +234 1 760 1873

Hours:
Thursday Open 24 hours
Friday Open 24 hours
Saturday
(Nigerian Independence Day)
Open 24 hours
Hours might differ
Sunday Open 24 hours
Monday Open 24 hours
Tuesday Open 24 hours
Wednesday Open 24 hours

7. BUNGALOW RESTAURANT

bungalow

Price: NGN 7,869 - NGN 31,476

Cuisines: Japanese American Sushi Asian International 

Address: 1296 Akin Adesola St, Lagos 74278, Nigeria

Phone: +234 803 403 0129

Hours:
Thursday 10:30AM–11PM
Friday 10:30AM–11PM
Saturday
(Nigerian Independence Day)
10:30AM–11PM
Hours might differ
Sunday 10:30AM–11PM
Monday 10:30AM–11PM
Tuesday 10:30AM–11PM
Wednesday 10:30AM–11PM

8. THE YELLOW CHILLI RESTAURANT & BAR

chilli restaurant

Cuisines: African Soups Seafood

9. CACTUS

cactus

Cuisines: European

Address: 20/24 Ozumba Mbadiwe, Victoria Island, Lagos., Maroko Road, Lagos, Nigeria
Phone: +234 1 461 8951

10. HANS AND RENE

hans and rene

#1 of 5 Dessert in Lagos

Price: NGN 315 - NGN 2,203

Address: 270 ozumba mbadiwe st, Nigeria

Phone: 12348087773333

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Neiti begs Buhari to lead Pib

Neiti begs  Buhari to lead Pib

NEITI BEGS BUHARI TO LEAD PIB

BY OMOKHUALE PUAH

The Nigeria Extractive Industries transparency initiative (NEITI) in a brief policy has revealed that Nigeria loses $200 billion each year, as a result of the non-passage of the petroleum industry bill (PIB).

In the brief, an alert to the nation of the fact that another $15 billion gets lost every year, on fresh investments to regulatory uncertainties.

NEITI urged the Nigeria President, Muhammadu Buhari to be in lead and thrust urgency in passing the PIB, as this is part of the ways to ensure the country could overcome her economic challenges.

In the policy brief which was titled “The urgency of a new petroleum sector law”, the NEITI noted that “the process of enacting a law for the Nigeria’s petroleum sector has gone on for so long and at a very huge cost to the country, because it seeks more urgency and a better coordination in getting the important bills passed”.

It was also noted that the PIB is one of the most important bills to be ever contemplated by in the history of Nigeria and yet the one that has exhausted so much time and generated its activities without legislation.

According to the NEITI, as an agency set up to enthrone transparency and accountability, in the extractive industry, NEITI has a legitimate interest, drawn from the petroleum law of the country.

It further disclosed that the setbacks suffered by the bill were not due to poor understanding of the problems nor its deficiency in expert input, but mainly disappointment among stakeholders on “regulatory framework; power of the minister ownership and control of resources, host community benefits, environmental concerns and appropriate fiscal regime and in the process, all administrations have produced their own PIB draft(s), but not the law’’ it says.

NEITI further stated that looses incurred by the economy have been really high; the hemorrhage on Nigeria’s foreign reserves and value of naira due to the importation of over $26.4 billion worth of refined petroleum products that should have been done locally and loss of jobs in hundreds of thousands by Nigerians.

NEITI added that, there is no evidence that Nigeria has learnt from its past experiences to guarantee a difference in the present journey.

They further recommended the task of an inclusive team as the President, Buhari takes the lead and charged with building consensus among the stakeholders.

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Education loses value as Recession Hits hard

Education loses value as Recession Hits hard

EDUCATION LOSES VALUE AS RECESSION HITS HARD

BY OMOKHUALE PUAH

The Proprietor, Stokhan Schools, Iyana Isashi, Lagos, Dr. Shinaayomi Akintolure says, due to the economic recession, parents are beginning to withdraw their children from school.

She stated this after series of interview with some Vanguard Investigators, during a review of The Students’ Fortress, which was adjudged by Laternabooks Limited, as one of the bestsellers in the education department of the bookstores.

Vanguard investigations revealed that as parents withdraw their children and wards from private schools, owners of some private schools have introduced attractive discounts to parents to curtail the unfavorable trend.

Dr. Akintolure explained that this situation on ground is not just because of the increase in school fees, but even to keep the home front going is suddenly an issue. “Though the highbrow areas could attempt increasing fees, but we here cannot, because we now have a 10 to 15 percent shrink in the number of pupils to public schools.

‘’Some parents are even pleading on us to give their children double promotion and if you do not do that for them, they will take their wards to other schools, just so that they will not pay the school fees of the three terms they are supposed to pay, not minding the dangers this could cause them later.”

In the words of The Proprietor, Tob Land Nursery and Primary School, Agege, Lagos, who

Who did not want his name to shown, “Without counting the academic consequence on their wards, some parents have maintained that the double promotion will relieve them of the burden of paying school fees for a year.

“Almost 75% of the parents are unable to pay their children’s school fees and buy books due to the recession. Some parents are buying half of the text books.

“The initial thought was to increase the school fees this term but I was unable to because of the economic challenges and the fear of them been withdrawn into Public schools, but now about 15 students of my school has been taken into a public school”, he added.

Mrs Gladys Adewumi is a Beauty Salon operator whose three children attend Living Joy Nursery and Primary School, Ikorodu. She said “I withdrew two of my children from the private school to public schools when it was apparent that her husband could not cope financially, coupled with the current economic condition of Nigeria”.

In clear utterance Dr. Akintolure advised “school owners who really know their onions, need to take their eyes off just profit making and focus on educating the children, because you cannot sack teachers like banks sack workers.

As proprietors we need to sacrifice about 40 to 50 percent of our profit if need be, to ensure that children keep getting the best even as we remain in business.”

Mr. Okoh a school proprietor pleaded, saying “the government should look into the recession, turn the economy around so that all aspects of life will return to normal’’.

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Soludo foresees a higher recession in Nigeria

Soludo foresees a higher recession in Nigeria

SOLUDO FORESEES HIGHER RECESSIONS IN NIGERIA

BY OMOKHUALE PUAH

Former Governor, Chukwuma Soludo of the Central Bank of Nigeria had on Monday said that the recommendations for Nigeria to sell its asset in other to raise fund, is dangerous and troubling.

These recommendations, which were made; by the National Economic Council (NEC), the Senate President Bukola Saraki and the Richest man in Africa, Aliko Dangote were dismissed by Mr. Soludo, who said that “The scheme will only be a win-win for government and its collaborators in the private sector whereas, Nigerians and their economy will be the losers.

According to Soludo, the recommendations are merely an advice, subject to a final approval by the President, Muhammadu Buhari, but he considers them as fundamental flaws, based on false foundation.

Fortnight ago, NEC at the end of their retreat urged the government to try the sale of assets; Nigerian Liqified Natural Gas (LNG), a four state owned refinery, Nigeria’s equity in Africa Finance Corporation, AFC and the airports.

He urged the government to reduce their equity holdings in upstream oil and gas joint venture operation, so as to build reserves for recovery, but this recommendation has equally attracted criticisms from the Nigeria Labour Congress and other concerned Nigerians, describing the recommendation’s backbone, as ‘Economic vampires’, which the government ought to take precautions against.

In the words of Mr. Soludo, “any sale of asset now, amounts to chasing pennies, when we are losing pounds, as such a quick auction of selling national asset can only benefit the few privileged, while its jeopardy on Nigeria, would be a historical mistake”, he said.

Mr. Soludo faulted the government, asking “if the policy of selling Nigeria’s asset is to get out of recession, what happens to the revenue Nigeria loses everyday in oil production and sales through disruptions in the Niger delta?

“If your objective of selling the assets is to build government reserves and budget revenue, then you are in haste to lose pounds and grab pennies” he added.

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Fg provides free surgeries against cancer

Fg provides free surgeries against cancer

FG PROVIDES FREE SURGERIES AGAINST CANCER

BY OMOKHUALE PUAH

Federal Government of Nigeria has started a rapid response initiative programme and general health care for Nigerians, within 100 days against the fight for cancer.

This was stated by the Director of Medical Services and Chairman Medical Advisory Committee of the National Hospital, Dr. Oluseyi Oniyangi, during the start of the exercise, with 10 persons.

According to him, this initiative programme was strategized to ensure a proper health care for people in the society, who lacks sufficient fund, to accessing health facilities.

Dr. Oniyangi stated that this initiative programme is structured in a manner that would provide not less than 20,000 screenings against cancer, 10,000 surgeries against cancer and a general healthcare for such people within 100 days.

He also said that this measure is aimed at preventing the adverse dangers, associated with cancer on people who financially unstable.

In his words, “This rapid initiative programme, contains 20,000 cancer screening, 10,000 surgeries and a screening for other infectious diseases; Hepatitis B, which would run for 100 days”, he said.


He said, “The rapid response initiative programme is a programme of the Federal Ministry of Health which aims to provide better health for all. This programme targets 10,000 surgeries, about 20,000 cancer screenings as well as screening for other infectious diseases like hepatitis B and this programme is to be run for 100 days.”

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10 top hotels in lagos

10 top hotels in lagos

10 TOP HOTELS IN LAGOS

1. PROTEA HOTEL BY MARR MARRIOTT LAGOS KURAMO WATERS

pr

Special Offer: Member Rates

Plot 2 Assibifi Road, Ikeja, 100001, Nigeria
Protea Hotel by Marriott Ikeja Select, Address

2. THE WHEATBAKER

wheat

Luxury

Pool

Free parking

Travelers' Choice® 2016 Winner

4 Onitolo(Lawrence Road), Ikoyi, Lagos,Nigeria, Lawrence Rd, 101233, Nigeria
The Wheatbaker Lagos, Address

3. SOUTHERN SUN IKOYI

southern sun ikoi

Luxury

Pool

Free Parking

Travelers' Choice® 2016 Winner

47 Alfred Rewane Rd, Eti-Osa Local Government Area, Ikoy 101233, Nigeria
Southern Sun Ikoyi, Address

4.  RADISSON BLU ANCHORAGE HOTEL, LAGOS

radiason blu

Luxury

Pool

Free Parking

Ozumba Mbadiwe Ave, Lagos 101006, Nigeria
Radisson Blu Anchorage Hotel, Address

5. THE GEORGE

the george

Luxury

Pool

Free Parking

30, Lugard Ave, Nigeria
The George Hotel, Address

6. LEADWAY HOTEL, IKEJA

leadway

Luxury

Pool

Free Parking

Travelers' Choice® 2016 Winner

Esther oshiyemi St, 102215, Nigeria
Hotel Leadway Ikeja, Address

 7. THE FEDERAL PALACE HOTEL

FEDRALPALACEHOTEL4

Luxury

Casino

Pool

Travelers' Choice® 2016 Winner

6-8 Ahmadu Bello Way, 110102, Nigeria
Federal Palace Hotel, Address

 8. FOUR POINTS BY SHERATON LAGOS

four points at sharaton

Luxury

Pool

Free Parking

Travelers' Choice® 2016 Winner

Plot 9/10 Block 2 Oniru Chieftaincy Estate, Lagos 021189, Nigeria
Four Points by Sheraton Lagos, Address

9. PROTEA HOTEL IKEJA

protea hotel ikeja

Luxury

Pool

Free Parking

Isaac John St, Lagos 102215, Nigeria
Protea Hotel Ikeja, Address

10. INTERCONTINENTAL LAGOS

inter continental hotel ii

Luxury

Pool

Parking

plot 52, Kofo Abayomi St, Nigeria
InterContinental Lagos, Address
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Nigeria losses 3000mw of electricity

Nigeria losses 3000mw of electricity

NIGERIA LOSSES 3000MW OF ELECTRICITY

BY OMOKHUALE PUAH

Former Governor of lagos state, Babatunde Raji Fashola complains that Nigeria lost over 3000 megawatts of electricity to Vandal’s activities during the last six months.

He said this statement during a presentation at the Wilson center, Washington DC in the United States.

According to the Minister, the electricity supply increased by 4000MW during the last two weeks, due to the increase in generating the capacity of the hydropower plants occasioned by the repairs and the maintenance carried out on them in the previous year.

He further said that the loss of over 3000MW of power was caused as a result of consistent vandalism and sabotage of oil and gas pipelines and assets.

He, the current Minister of Power, Works and Housing, Mr. Fashola has said that the Buhari’s administration acquired a road contractual liability of N1.5trn worth.

Fashola made this statement to a correspondent, through his special Adviser in Communications, Mr Hakeem Bello, on Sunday in Abuja.

He said though 206 roads were inherited, but were not funded for nor budgeted. He added that it is now a road map, which consists of identifying and priotising heavy traffic bearing roads for conveying essential goods and services within the country.

According to his voice, “we have to build roads that would lead our seas and airports, roads that would drive energy, roads that would help to evacuate fuel from the South to the North, sustain us, which would bring in our feed stock, cattle, vegetables and livestock from the North to the other bearings.

“This is the reason we keep building from all parts of the states, trying to link the roads together for effectiveness. We are also trying to connect the river Benue through the Loko Oweto Bridge, together with the second Niger Bridge; Kano Madugiri and Kano Kaduna”. He said.

Fashola also said in his voice “the state of Nigeria now, is a period of hard choices; we do more with less and these choices which we have made are not esoteric, but are simple and rational, because we put our limited resources in the areas of those 206 roads.

“The total outstanding liability is at N1.5tn; which is taken in batches from the most important highway of goods from ports, fuel from tank farms, foodstuffs and agro-produce across Nigeria”.

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Fg Explains How N2.73t Revenue Shortened To N2.53t

Fg Explains How N2.73t Revenue Shortened To N2.53t

FG EXPLAINS HOW N2.73T REVENUE SHORTENED TO N2.53T

BY OMOKHUALE PUAH

The News Agency of Nigeria (NAN) yesterday reported that the Federal, State and Local government have allotted a sum of N2.53 trillion, as proceeds of the revenue from the federation account of January to July.

This report was obtained from the documents filed by the ministry of Finance, which showed that the revenue was N2.73 trillion, but certain deductions were made for cost of collection, by the Nigeria custom service at seven percent, Federal Inland Revenue service at four percent and the Department of petroleum resources at four percent.

The funds usually, are distributed the next month, but as regards this for January and July, it was obviously generated between December 2015 and June 2016.

According to review, N1.1 trillion was allotted to just the Federal government, N727.5 billion was allotted to the State government, and N544.9billion was allotted to the Local government.

This allotment was based on the formula of the federal government, receiving revenue of 52.68 percent, a percentage of 26.72 for the state and 20.6 percent for the local government.

The oil producing state distributed an additional N148.1billion, which was based on the 13 percent derivation. This distribution was gotten from the mineral earnings of the Nigerian National Petroleum corporation (NNPC) and DPR and some none mineral revenues from the customs and FIRS.

Following the report, additional revenue came from Petroleum Profit Tax, import Duty, Exchange gains and NNPC refunds.

In May this year, N1.5 billion was distributed as excess bank charges, which was recovered into the Federation account and allotted between the three governmental tiers.

In the review, it was recorded that in January this year, N417.1billion was distributed, as the Federal government was allotted N180.3billion , as the state was allotted N113.5 billion and N85.4billion was allotted the Local governments, as N208.2 billion was distributed as the revenue derivation.

In February this year, N370.3 billion was distributed. The Federal Government received an allocation of N155.4 billion, the state government received N104 billion and the Local government received N77.8 billion.

In March this year, N345.1billion was distributed as revenue. The federal government received a sum of N144.5 billion, N96.4 billion was allocated to the state government and the Local government received N72.1 billion, while a list of oil producing states received N23.2billion in addition.

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