Okada reign ends in Lagos as Sanwo-Olu launches last mile buses next week

Lagos launches last mile buses’ next week

Okada reign ends in Lagos as Sanwo-Olu launches last mile buses next week     Babajide Sanwo-Olu, governor of Lagos, has announced that the state will launch “last mile buses” next week to serve as alternatives to commercial motorcycles, popularly known as okada. In January 2020, the Lagos government banned commercial motorcyles and tricycles in 15 local councils of the state. The government had said okada was not “part of our greater Lagos journey”, adding that it was “not an enduring trade”. Speaking during a stakeholders’ meeting on security in Lagos…

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Economic council engages Buhari on three disturbing national issues

Economic council engages Buhari on three disturbing national issues

Economic council engages Buhari on three disturbing national issues     Worried by the current state of affairs in Nigeria, the Presidential Economic Advisory Council has hit the nail on the head by nudging president Muhammadu Buhari to take strategic action on three major challenges in the country. Recall that in 2019, the president had set up the council chaired by Prof Doyin Salami to replace the regime’s defunct Economic Management Team led by Vice-President Yemi Osinbajo. The council, charged with the responsibility of advising the President on economic policy…

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How stock investors lose N416bn in four days

How stock investors lose N416bn in four days

How stock investors lose N416bn in four days     Investors in the Nigerian equities market had a terrible first week of May with collective losses estimated at N416 billion as profit-taking overwhelmed the market. The week which opened on Tuesday due to the observation of Worker’s Day Holiday on Monday as declared by the federal Government of Nigeria had three of the four trading sessions cloaked in red. Notably, profit-taking in STANBIC (-6.0 per cent), MTNN (-4.1 per cent), GUARANTY (-2.8 per cent), and DANGCEM (-2.5 per cent) drove…

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NGX market CAP quivers as 11 Plc offloads N82.22bn by delisting

11Plc shareholders approve N3.06bn dividend payment

NGX market CAP quivers as 11 Plc offloads N82.22bn by delisting   The aggregate valuation of equities at the Nigerian Exchange Limited took a negative direction on Friday despite a 0.21 per cent rise in the All-share Index (ASI), the market’s benchmark tracker of share prices, at the close of the session. The contrasting experience was occasioned by the exit of 11 Plc (formerly Mobil Oil Nigeria Limited) from the capital market. Management of the bourse informed the market and investing public that the entire shares of 11 Plc were…

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