Author: Oladi Samuel

Governor Alex Otti of Abia State has launched an ambitious N10.78 billion project to rehabilitate and retrofit 200 Primary Healthcare Centers (PHCs) across the state, with completion scheduled within 100 days.Speaking at the ceremony on Monday at Ngwu Primary Healthcare Center in Uzuakoli, Bende Local Government Area, Otti emphasized that building an effective healthcare system in Abia remained central to his governance agenda.He stated that the government would “renovate and provide operational infrastructure to the selected 200 PHCs, and the project would be executed within 100 days.” According to Otti, the initiative, tagged “Project Ekwueme,” would be replicated across all…

The Nigeria Employers’ Consultative Association (NECA) is urging the government to either regularize the status of illegal expatriates in Nigeria or ensure their removal from the workforce.The call comes amid growing concerns over the number of undocumented foreign workers occupying jobs meant for Nigerians, a situation NECA warns could undermine local employment opportunities and pose security risks.Adewale-Smatt Oyerinde, NECA’s Director-General, raised the alarm in an interview with the News Agency of Nigeria (NAN) on Monday.His comments follow a recent disclosure by the Minister of Interior, Olubunmi Tunji-Ojo, that 90% of expatriates in roles intended for Nigerians lack valid work permits.“This…

Oando PLC’s shares rose by over 14% in the third week of January, increasing from an opening price of N62.50 to close at N71.80.The company reported a post-tax profit of N13.6 billion for the third quarter of 2024, a 510.48% increase from the previous year, bringing the total for the nine months ending September 30 to N76.2 billion.For the third quarter, revenue reached N1.1 trillion, a 15.7% increase from the previous year, while total revenue for the nine-month period was N3.1 trillion.A significant portion of this revenue, N2.9 trillion, came from the supply and trading of crude oil, along with…

PalmPay’s savings product, PalmPay Wealth, has announced a notable milestone, paying out N4 billion in interest to over 10 million users in 2024.This achievement underscores PalmPay’s commitment to changing how Nigerians save, invest, and grow their finances.One stand-out PalmPay user earned an impressive N11 million in interest, demonstrating the lucrative potential of its offerings. PalmPay’s Wealth product has firmly established itself as Nigeria’s leading high-yield financial product, outpacing key competitors.PalmPay Wealth offers a broad spectrum of financial products, including savings, mutual funds, and insurance with high-yielding returns. Following this milestone, PalmPay reported that 10 million of its 35 million active…

The Federal Government of Nigeria, through the Ministry of Finance Incorporated (MOFI), has fully subscribed to the Series 1 issuance of ₦150 billion for the Real Estate Investment Fund (MREIF), a landmark initiative designed to address the nation’s housing deficit and stimulate economic activity in the real estate and construction sectors.The full subscription to the Series 1 Fund underscores the Federal Government’s pivotal role as the sponsor while empowering the private sector to lead the implementation and management of the initiative. By seeding the fund with ₦150 billion, the Federal Government has laid a strong foundation for MREIF’s success, ensuring…

Nestle and MTN are more than just brands; they’re investment powerhouses. Nestle’s stronghold in the consumer market and MTN’s push into fintech make them prime picks for long-term growth. But there’s more to these stocks than meets the eye—solid dividends, market dominance, and potential to thrive in a volatile economy.Want to know why I’m betting on these giants and how they fit into a winning portfolio? Catch all the details on this episode of Follow the Money with Ugodre.Watch the full video on YouTube now!

Nigeria’s alignment with BRICS (Brazil, Russia, India, China, and South Africa) as a partner member offers significant advantages across critical sectors such as trade, investments, and agriculture.This is according to Daniel Bwala, Special Adviser to the President on Public Communication and Media.Speaking on Channels TV’s Sunrise Daily on Monday, Bwala highlighted the economic and developmental opportunities this relationship fosters.“A partner member means that a country can participate in areas of interest with BRICS,” Bwala explained.  “These areas include promoting trade and investment, food security, infrastructural development, and climate change adaptation. These collaborations and partnerships are essential in navigating global economic realities.” Bwala…

The Economic and Financial Crimes Commission (EFCC) has announced an upcoming e-auction of vehicles subject to final forfeiture orders.The auction will take place on Monday, 27th January 2025, from 11:00 am to 4:00 pm and will be conducted online through EFCC-appointed auctioneers.The announcement was made on Monday via a post on the EFCC’s official X (formerly Twitter) account. In the post, the Commission assured the public that the auction process would be carried out transparently and in full compliance with the EFCC (Establishment) Act, 2004, the Public Procurement Act, 2007, and the Proceeds of Crime (Recovery and Management) Act, 2022.“The…

The Federal Government has appointed Dr. Kevin Okonna as Acting Rector of the Maritime Academy of Nigeria (MAN), Oron, Akwa Ibom State.The appointment, effective immediately, follows the resignation of the former rector, Commodore Duja Effedua (rtd).The Academy’s Head of Public Affairs, Mrs. Domo Umoekpe, confirmed the development on Monday, noting that the appointment was communicated in a letter from the Minister of Marine and Blue Economy, Mr. Adegboyega Oyetola.“The Federal Government has appointed Dr Kevin Okonna as the acting Rector of Maritime Academy of Nigeria (MAN) Oron in Akwa Ibom. “The appointment takes immediate effect, following the resignation of the former…

On the latest episode of In Good Company, we dissect the heated corporate standoff between General Hydrocarbon Limited (GHL) and First Bank Nigeria Holding (FBNH). Is this a clash of companies, or a battle of personalities? From boardroom drama to billion-dollar lawsuits, we explore the origins, the ripple effects on stakeholders, and what this means for the corporate and financial sectors. With insights from Nairametrics’ founder and CEO, we navigate the twists, timelines, and possible resolutions of this intense corporate battle.Watch the latest episode of In Good Company featuring Nairametrics CEO, Ugo Obi-Chukwu. This is a conversation you don’t want to…