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Tag: Market

  • NASENI to release first batch of smart meters soon

    NASENI to release first batch of smart meters soon

    National Agency for Science and Engineering Infrastructure, NASENI, has assured that its first batch of smart meters would be available in the market by next week.

     

    Executive Vice Chairman/Chief Executive of NASENI, Prof. Mohammed Haruna, made the disclosure at the Technology and Innovation Expo 2022, organised by the Federal Ministry of Science Technology and Innovation (FMSTI), Abuja.

     

    The innovation which was invented by NASENI. The innovation which was invented by NASENI was successfully bided for and won by the private sector which commenced mass production and is ready to push the products into the market.

     

    Speaking at the event, Prof. Haruna said several of the agency’s innovations have offtakers.

     

    He explained that the agency looks out for what the country desperately needs and seeks partnership with the private sector before embarking on projects that are always of international standard.

     

    In his words: “The products on display today are not same as last year it has always been our policy to display new exhibitions every year.

     

    “I assure you that several of these products have offtakers already, there are some private sectors already who have agreements with us for mass production, we are not displaying what we displayed last year in terms of the smart meters because the private sector that won the bidding to take it to the market are in the process of mass production, they just assured me that the first batch of mass production will be out next week.

     

    “So before we do anything we ask what is needed in the market and who is the private sector partnering with us locally to ensure that these products are of international standard and have the wherewithal for exportation luckily their where promising structures and facilities available by the government to promote export, export promoting council has so many packages that encourages and supports exportation of Nigerian products with so many incentives and the private sector is aware of it and our partnership gives them an edge to benefit from such incentives.

     

    “In terms of petroleum, our contribution to the sector is trying to ensure that within a short period, our modular refinery system has reached a stage where it can be developed. It is already done, however there are additional research and work to perfect it to ensure it can be deployed and now with funding guaranteed and provided for NASENI, I think it will be easier for us to go forward. Capacities of some researchers that we need to enhance to be able to perfect this in our plan.

     

    “There are promising indicators already against the backdrop of a World Bank report of January 2022. Nigeria’s economy is expected to grow by 2.5% in 2022 and 2.8% in 2023. Based on the report, global growth is expected to decelerate markedly from 5.5 per cent to 4.1 percent in 2022, then 3.2 percent in 2023. In order to sustain this economic growth, Nigeria has no alternative than to continuously invest generously in research and development in the areas of Science, Technology and Innovation.”

  • Over 30 killed in overnight attacks on Sokoto market

    Over 30 killed in overnight attacks on Sokoto market

    Suspected bandits have attacked the Goronyo market in Goronyo Local Government Area in the Eastern Senatorial District of Sokoto State.

    Sources in the village said the assailants attacked the market in large numbers on Sunday night, shooting sporadically and killing several persons.

    Reacting to the attack on Monday, Governor Aminu Tambuwal said about 30 people were feared dead in Goronyo township, the headquarters of Goronyo local government area.

    He disclosed this when the Chief of Army Staff, Lt. Gen. Farouk Yahaya paid him a courtesy visit.

    “Between last night, yesterday evening till this morning, we were greeted with a very dastardly attack in Goronyo local government, particularly Goronyo Township, where scores and tens have lost their lives and still counting. We’re not sure of the figure. But it is 30 something,” he said.

    The governor noted that the army chief has “come at a very trying moment for the army and the Nigerian nation. We’re faced and bedevilled by many security challenges in our own area here, particularly banditry, kidnapping and other associated crimes.”

    He called for synergy between the army and other security operatives in the state while requesting for the presence of more forces in the state and the deployment of more resources.

    Tambuwal also pledged that his administration will continue to support the army and other security operatives.

    The latest attack is the third time in two weeks bandits have attacked a village market in Sokoto State.

    Earlier this month, 20 persons were killed at Ungwan Lalle market in Sabon Birni Local Government Area of the state.

    For several weeks troops have been conducting air and ground operations on bandit camps in neighbouring Zamfara state where authorities have shut down telecom services to disrupt communication between the gangs.

  • Bandits invade market, gun down 20 villagers in Sokoto

    Bandits invade market, gun down 20 villagers in Sokoto

    Bandits have invaded a market at Ungwan Lalle in Sabon Birni Local Government Area in Sokoto State and shot 20 villagers dead.

    It was gathered that the bandits stormed the market and started shooting sporadically at anyone on sight and successfully gunned down 20 people.

    They were said to have arrived the market in large number.

    Many people were said to be injured in the attack.

    Confirming the attack, member representing Sabon Birni North, Aminu Almustapha Gobir, said the whole Sabon Birni was in a mourning state over the attack.

    “Sabon Birni is under siege, this is what I have been telling you people and the government is not happy about it,” he said

    Gobir, who witnessed the burial of the two brothers, noted that traders from different places were killed by the attackers.

    However, the state government has blamed the traders for the attack because all rural markets in the eastern part of the state were banned as part of measures to curtail banditry.

    The Commissioner for Carriers and Security Matters, Colonel Garba Moyi (rtd), stated while speaking with newsmen.

    The Sokoto State Police Command is yet to issue a statement on the attack.

    Several bandits have fled from Zamfara State to Sokoto State after the military’s sustained attack on them, driving them away from the area.

  • 100-year-old tree falls in Oyo market, kills four traders

    100-year-old tree falls in Oyo market, kills four traders

    Four people have been confirmed dead after the ancient Odan tree at the Sabo area of Oyo town fell and crushed people that were under it during a downpour.

    It was gathered that the sad incident occurred on Monday evening when the victims who were mostly traders at the Sabo Market took cover under the tree. The rain reportedly started at about 4pm.

    The tree which was said to be about 100 years old was said to have suddenly fallen and trapped the people under it. Some lucky people escaped with injuries.

    Vehicles reportedly parked under the tree were also said to have been damaged.

    The chairman of the market, Akeebu Alarape, said four different loggers invited to cut the tree did not succeed until a fifth logger was able to cut parts of it before rescue operation commenced.

    The Head of Operations of the Western Nigeria Security Network, aka Amotekun Corps, in the Atiba area, Akeem Ojo, said the tree fell on the victims around 6pm.

    “A female student of the Federal College of Education (Special), Oyo, a woman with a baby strapped to her back and a boy she was holding, were pulled out from under the tree.

    “One person was seriously injured and taken to a private hospital in the area, while motorcycle and mini bus parks under the tree were damaged,” Ojo added.

    A resident, who narrated the incident on an internet forum, Nairaland, claimed that nine people were killed.

    He wrote, “The rain started all of a sudden and some people that couldn’t catch up with the last bus went to sit under a huge tree where a meat seller sells his meat not knowing that will be their end. As it was raining, though not heavy, all of a sudden, a breeze started blowing, carrying house roofs [and] fuel station canopy away, and as if that wasn’t enough, the tree where some market women and their children were sitting fell all of a sudden and crushed about nine of them to death instantly.”

    The Chairman, Sooro Local Council Development Area, Oke-Isiwin, Seun Oguntona, said those trading under the tree would be relocated.

    The Oyo State Police Public Relations Officer, Adewale Osifeso, said four people were killed.

    He said policemen were immediately deployed to the scene to forestall breakdown of law and order.

  • Nigeria stock market resumes week with N4bn loss

    Nigeria stock market resumes week with N4bn loss

    The nation’s bourse opened trading for the week on Monday on a bearish mood with the market indices dropping by 0.02 per cent.

    Specifically, the market capitalisation, which opened at N20.455 trillion, shed N4 billion or 0.02 per cent to close at N20.451 trillion.

    Also, the All-Share Index lost 8.12 per cent or 0.02 per cent to close at 39,252.89 from 39,261.01 achieved on Friday.

    Accordingly, month-to-date return and year-to-date loss stood at 0.1 per cent and 2.5 per cent, respectively.

    The downturn was due to market watchers’ sell-off sentiment in the consumer goods sector.

    The market loss was driven by price depreciation in large and medium capitalised stocks, amongst which are Flour Mills of Nigeria, GlaxoSmithKline Consumer Nigeria, Stanbic IBTC Holding, Dangote Sugar Refinery and May and Baker.

    However, investor sentiment as measured by market breadth closed positive with 21 stocks gainers against 15 losers.

    Linkage Assurance led the gainers’ chart in percentage terms with 8.93 per cent to close at 61k per share.

    FTN Cocoa Processors followed with 8.89 per cent to close at 49k, while Mutual Benefits Assurance gained 7.14 per cent to close at 30k per share.

    Ecobank Transnational Incorporated rose by 5.77 per cent to close at N5.50, while Universal Insurance gained five per cent to close at 21k per share.

    On the other hand, GlaxoSmithKline Consumer Nigeria led the losers’ chart in percentage terms by 9.56 per cent to close at N6.15 per share.

    Consolidated Hallmark Insurance followed with 8.62 per cent to close at 53k, while Sovereign Trust Insurance lost 7.69 per cent to close at 24k per share.

    May and Baker dipped 6.67 per cent to close at N4.48, while University Press shed 6.03 per cent to close at N1.09 per share.

    The total volume of trades increased by 17.0 per cent to 210.95 million units valued at N1.38 billion exchanged in 3,989 deals.

    This was against 180.30 million shares worth N1.72 billion traded in 3,158 deals on Friday.

    Transactions in the shares of Access Bank topped the activity chart with 30.52 million shares valued at N282.15 million.

    Mutual Benefits Assurance followed with 26.83 million shares worth N8.004 million, while Sovereign Trust Insurance traded 21.38 million shares valued at N5.14 million.

    Universal Insurance traded 12.95 million shares valued at N2.59 million, while Honeywell Flour Mills transacted 12.92 million shares worth N48.03 million.

  • Traders groan, protest over demolition of Agboju market

    Traders groan, protest over demolition of Agboju market

    Traders from the Agboju Plank and Building Materials Market, on Wednesday, remonstrated the demolition of their business abode at the Federal Housing Authority office in Festac Town.

    It was gathered that the Lagos State Government Task Force, on Sunday, destroyed the popular Agboju Market and other ‘illegal’ buildings in Festac Town.

    Speaking to the newsmen, the secretary of the plank sellers association, Afolabi Azeez, said the market has been in existence for 27 years and a majority of the businesses were being run on loans.

    “That place was swampy and we filled it with over 1,400 tippers of sand. Most of us rely on loans to run our business. We collect loans from banks and LAPO,” he said.

    He further stated that a notice was passed to the traders prior to the demolition and the traders responded to the notice, only for them to see their markets being demolished.

    “We are seeking assistance. We want to remain there. Whatever they want us to pay, we are going to pay. We have been paying it before.”

    Azeez added that traders in the market pay all their dues and taxes, and as such, should be allowed to remain in the market.

    “We have a right to that place. We seek help from the FHA so that they can help us retain that place,” he bemoaned.

     

     

     

  • Danladi Umar: CCT chairman dancing naked in the market place – Godwin Etakibuebu

    Danladi Umar: CCT chairman dancing naked in the market place – Godwin Etakibuebu

    By Godwin Etakibuebu

    Danladi Umar, chairman of the Code of Conduct Tribunal (CCT) was caught dancing naked in the market square, at the “tomatoes selling point”, in Abuja a few days ago.

    And there were no mad people’s professional-tenders; those with proficiencies proportionate to that of our own world acclaimed best Psychiatrist – the late Professor Thomas Adeoye Lambo, around to put him under chain.

    In the world of madness, there are three most needed instruments of remedy that help the patient to a quicker route of being caged, and not recovery, because recovery is always a longer journey through a very dark tunnel.
    The first is the Cain: Truth is that the only instrument that puts mad person on strict check (which is why the rural people of African communities would say that the only language a mad person understands is the Cain or horsewhip).

    The second is Chain: It is true that chain is a necessary “equipment” that needed to be permanent around the person, be it around the waist or one leg – it could sometimes be in both legs, depending on the severity of the madness. This instrument is very essential if you want to meet a mad person where you left him or her – otherwise he [or she] “goes to town of no return”.
    The third instrument, which is very necessary in the life of a mad person, is a permanent place of Residency. It could be Yaba Mental Rehabilitation Center or the Aro Mental Home in Abeokuta. There are many other Psychiatrists Homes around Nigeria; serving the purpose of prosecuting the third Instrument, the two mentioned above easily come to mind because of their popularity. And natives around the Africa continent have thousands of such Homes.
    The essential of the third Instrument is purely to separate the mad person from others – that is others who are sane totally; which is rare because the Psychologist would say that there is 5 minutes of madness for every sane person in every 24 hours.

    Madness is bad enough that anyone under that spell cannot be a predicted good neighbour. The best way to guarantee safety of all within the “neighbourhood of madness” is quarantining the identified mad individual within a guaranteed enclave of safety.

    Let us return back to the man caught dancing nakedly in the market square in Abuja for further analysis. But first, we need to know this man proper and we may be doing better by meeting him officially more than in his private capacity.

    The most tenure-guaranteed and secured office in Nigeria; under the Nigerian Constitution, is not the office of the President of the Federal Republic of Nigeria. This is not an admission that the Nigerian President’s office has no guarantee of tenure, but what is being said here is that it is not the most secured office.

    Neither can we point to the office of the Chief Justice of Nigeria; who doubles as the Chairman of the Nigerian Judicial Council, as the most secured in terms of tenure. This is in spite of the fact that the appointment of the Chief Justice of Nigeria is not an exclusive function of only one Institution. It is a tripartite responsibility of three Institutions – to wit: the Nigerian Judicial Council; which nominates the candidate, the Presidency; which forwards the candidate’s to the National Assembly, and the Nigerian Senate; which confirms the nominee.

    Yet that office’s tenure; as rigorous as it is, is not the most secured. If you are in doubt, check out the profile and credentials of Justice Walter Samuel Nkanu Onnoghen – former Chief justice of Nigeria.

    The most constitutionally secured office in the Nigerian Federation is the office of the Chairman of the Code of Conduct Tribunal. Time and space surely will fail me to go into details of the instrumentality of his (it could be her also) appointment, but suffice to say that the beneficiary of that office is always recruited from the Nigerian Judiciary – the Bench, and once confirmed by the Nigerian Senate into that office, the person is no more a judicial official any more.

    Neither is he subject to the rules of the Nigerian Judicial Council any more, but instead, he becomes officially responsible to the Ministry of Justice, under the supervision of the Attorney General of the Federation (administratively) and Minister of Justice (politically). And in Nigeria, both offices are fussed into one.
    The Code of Conduct Tribunal was set up by Section 20 of the Code of Conduct Bureau and Tribunal Act, CAP C15, Volume 2, Laws of the Federation of Nigeria, 2004, to deal with complaints of corruption by public servants for the breaches of its provisions.

    It is this highly most placed man – Danladi Umar, the Chairman of the Code of Conduct Tribunal [CCT] that was caught in the video that went viral – humiliating, abusing and dehumanizing; in a most terrifying way, a security man at Banex Plaza, Wuse 2, Abuja, saying the guard was “rude”. The CCT chairman was seen [in the video] violently kicking and slapping the guard, before he was restrained and led into his car by police officers.
    As disgraceful as the action of the man dancing naked in the market square on the day in question was, narration that came from his office; a narration that turned the show of shame from private involvement into officialdom, spoke in volume – albeit perfidiously. And this narration, given by Ibraheem Al-Hassan; the official Spokesman of the CCT, forgot to take into cognizance that the man performed his show of madness at the Banex Plaza in Wuse 2, Abuja, in his private capacity, and not on official strength. All the same, let us look at how the Public Relations Officer of the Code of Conduct Tribunal presented the matter.

    Al-Hassan said the “altercations started over a parking lot which chairman met vacant, and it was directly opposite a shop where he wanted to make a purchase and to fix his phone”.
    “When the young security guard sighted him, he ordered that the chairman should not park his car in that particular space.” Al-Hassan said the security personnel could not provide a reasonable explanation why Umar could not park in the empty space. He said although the tribunal chairman did not identify himself, “the boy was rude in his approach and threatened to deal with chairman if he refused to leave the scene.”

    “Again, if the chairman had gone there to cause trouble or intimidate someone, as suggested, he would have gone there in his full official paraphernalia. But he went there alone with his younger brother,” the statement reads. “The policemen seen in the video clip were not the chairman’s police team. They were policemen operating around the plaza, who at first instance intervened before the arrival of the police team from Maitama police station.”

    Ibraheem Al-Hassan delved deeper into the narration of absurdity by saying that a mob in the plaza started throwing machetes and sharp objects at Umar’s car, “which led to a deep cut and dislocation in one of his fingers, causing damage to his car and smashing his windscreen”. “At the point he attempted to leave the scene, these same miscreants ordered for the closure of the gate, thereby assaulting him before the arrival of police team from Maitama police station.”

    The matter is now before the Nigerian Senate for “hearing,” in line with a petition brought by a Senator representing the victim of the attack; Clement Sargwak. Many Nigerians are not too sure of the extent of punishment that would be exerted on Danladi Umar, if the Senate finds him guilty – and that is if the Senate finds him guilty at all. That is on one hand. And in the other hand, has the Nigerian Senate the legal power to suspend, punish or sack Danladi Umar; the Chairman of the Code of Conduct Tribunal?

    What happens if the Senate returns the verdict of “not guilty” on this manifested Octopus; dangerous specie of Nigerian Public Official presiding in a Temple of Justice in Nigeria? Can we vow that the Executive of the Federation may not go comatose on this matter; as usual?

    If these entire hypotheses projected above happen; we are not saying it shall so much happened, what becomes the definition of justice to the victim of the Banex Plaza – Clement Sargwak? And what becomes the glory of expectation on higher Nigerian officials taking to the floor of dancing nakedly in the market places, in the future?
    For the sake of motherland – Nigeria, any mad dancer in the market place of opprobrium must be caged, and the time to do that starts now!

    Godwin Etakibuebu; a veteran Journalist, wrote from Lagos.
    Contact:
    Website: www.godwintheguru.com
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    Phone: +234-906-887-0014 – short messages only.
    You can also listen to this author [Godwin Etakibuebu] every Monday; 9:30 – 11am on Lagos Talk 91.3 FM live, in a weekly review of topical issues, presented by The News Guru [TNG].

  • Fire razes Sabo market in Oyo, destroys goods worth millions

    Fire razes Sabo market in Oyo, destroys goods worth millions

    Several shops at the popular Sabo market in Oyo town were razed by fire. The fire which started around 10 pm on Tuesday spread to most part of the market leading to the destruction of goods and properties worth millions.

    The Chief Fire Officer in Oyo State, Mr. Moshood Adewuyi who confirmed the incident said eight shops were affected by the fire.

    He said the fire emanated from a nearby dumpsite close to the market. Mr. Moshood said the dumpsite was set ablaze and was not monitored as the fire razed into the market.

    “Yes. Yes. It is true. We were called around 30 minutes to 11 pm. We went to the scene of the incident. You know our office is very close to Sabo.

    “Immediately they got there, they discovered that some shops were still intact and they tried as much as possible to cut the spread.

    “About eight shops were affected. And what were discovered in those shops were Cocoa, cashew nuts, and some baskets. Those are the major things.“

    So, it was only eight shops that were affected. Let us now go to the main cause, the people there, having known that they have property worth millions of naira, they also have a dumpsite, they burnt it and left.

  • Fire guts over 90 shops in Bauchi Market

    Fire guts over 90 shops in Bauchi Market

    A late-night fire has razed over 90 shops in the largest plaza at Wunti market in Bauchi city.

    While the cause of the fire was unknown as at Saturday morning, however, it gathered that the inferno started in a section of the plaza where salon, computer, and tailoring shops were located.

    No life was lost in the fire incident but shop owners lost valuables as it was impossible to evacuate property due to the inferno’s intensity.

    Business activities in the plaza have been halted as traders count their losses.

  • Make fire insurance for markets compulsory – Ewherido

    Make fire insurance for markets compulsory – Ewherido

     

    The Managing Director of Titan Insurance Brokers Limited, Mr. Francis Ewherido, has called on the government to make fire and specials perils insurance compulsory for all markets in the country. Speaking as a guest of NTA breakfast show, Good Morning Nigeria, last Friday, Ewherido said no serious government and people should sit by and allow the continuous destruction of markets and traders’ wares by fire the way it is occurring in Nigeria.

    Ewherido said about 30 market fires occur every year in Nigeria from available records. He said while compulsory fire for markets insurance would ensure that traders are restored to their pre-loss position and saved the agony looking for money to start all over again, the starting point in finding solutions to incessant fires in Nigerian markets is to find out the root causes of the fires and nip the problems in the bud.

    He added that while the major role of insurance is to restore policyholders to their pre-loss position, insurance can also be part of efforts to mitigate losses before they occur. This he said insurance professionals do when they carry out pre-loss risk survey and suggest ways of improving the risk, including discounts for good housekeeping and the installation and ownership of firefighting appliances.

    Ewherido said insurance brokers, as intermediaries between insurance companies and policyholders, provide a wide range of professional services to clients, including advising clients on risk improvement measures and reduction in risk exposure and in the process getting lower rates for clients, and these services are available to traders and market associations.