Nollywood actress and producer, Ruth Kadiri has issued a stern warning to her colleagues to desist from using her artiste in their movies.

The filmmaker, renowned for her exquisite production and distribution of movies on YouTube, via her Instagram story, stated that they should either grow their channel organically or groom their own artists.

She said:

…Tunde Rahman, Presidential aide, hails Onyema

…Private sector group rallies round Air Peace, urges FG to step up, protect national interest

Olisa Agbakoba, a senior advocate of Nigeria (SAN), has said that the Nigerian economy had begun to turn the corner for good.

Agbakoba pointed out that the economic activities of two prominent citizens were responsible for the feat so far recorded.

The Maritime lawyer noted that there may be signals the economy may be turning.

According to him, “Dangote refinery commenced sales of diesel, increasing supply and crashing prices significantly. Diesel prices dropped from about ₦1,700 per litre to around ₦1,350 per litre. This was just by pumping 100 million litres.

“Dangote plans to pump another 100 million litres. Diesel prices may dip below N1000. Dangote announced plans to begin sale of Premium Motor Spirit (PMS) by May. This will significantly bring down prices. Experts predict petrol prices to crash by at least 25 percent to N400.”

Also noting the positive role Allen Onyema’s Air Peace is playing in the aviation industry and the reaction of the forex market to the activities in that space, Agbakoba said: “With the support of Festus Keyamo, minister of Aviation, finally broke through the reciprocity barrier in aviation. Air Peace is now flying to the United Kingdom (UK). Ticket prices monopolised by British Airways and Virgin Atlantic crashed by at least 60percent.

“The forex market reacted to all these. The Naira strengthened against the dollar. Experts suggest the price of the dollar may well fall below ₦1000 in the coming months. If this trend continues, much-needed relief for Nigerians will occur. The Central Bank of Nigeria (CBN) may potentially review the Monetary Policy Rate (MPR) by Q4.”

The Senior Advocate also said: “It is notable that the turning points now witnessed in the economy, is the work of just two persons (Dangote and Onyema). Imagine what 10, 20 or 50 private sector individuals can do. This raises the issue of putting the private sector at the centre of economic development. Government must withdraw from business. We must move immediately from consumption to production. Q4, 2024, may look on the bright side but it is still early days.”

In a release he personally signed, ‘Is the Economy Beginning to Turn?’ Agbakoba noted that “Nigeria’s economy has gone through very challenging times over the past year. Inflation reached 28.92 percent in December 2023, the highest in 27 years. Food inflation rose to 33.93percent in December 2023.”

According to him, “the naira depreciated significantly, losing 25percent of value in a single day in June 2023 when the government removed pegging to the US dollar. This made imports much more expensive.

“Removal of fuel subsidies in May 2023 caused petrol prices to jump by 196percent practically overnight, from ₦189 to ₦557 per litre. Prices went through the roof!

“According to the World Bank, accelerating inflation pushed an additional 24 million Nigerians into poverty in the first five months of 2023. By late 2022, 63percent of Nigerians (133 million people) were considered multi-dimensionally poor.

“Major foreign companies like Procter & Gamble, GSK, and Bayer stopped manufacturing and scaled back operations in Nigeria, due to tough operating environment. This resulted in massive job losses.”

BusinessDaySunday gathered that it was not only Agbakoba that has noticed the positive things going on at Air Peace.

Emulate Allen Onyema, Tunde Rahman counsels

In his tribute recently during the 72-birthday anniversary of President Bola Ahmed Tinubu, Tunde Rahman, a senior presidential aide, had noted that: “It has become compelling that as citizens, we must continue to play our part. The example of Lawyer and Businessman, Allen Onyeama’s Air Peace and its gallant intervention, which helped to crash the airfares on the lucrative Lagos-London route, is there for all of us to emulate.”

At a meeting of private sector operators a few days ago, an ample time was voted to discuss the Air Peace exploits. Participants were unanimous that the Nigerian government must do whatever it would take to support the airline.

An elated member of the group said: “This thing is war. We should be clear-eyed about this and know that Nigeria (not just Air Peace) simply cannot afford to lose. Let us not be deceived into thinking this is only about an airline flying to London.

“The aviation business is cut-throat and governments play very deeply in it. Just look at the history of Boeing, Airbus, Emirates, BA, Pan-Am, Delta, United, Singapore Airlines, Ethiopian, etc. We need to win this fight. The FG must step up and protect our national interest without fear or equivocation.”

All the members at the meeting were in agreement that, “this is a National battle for existential survival, not just for the traveling Nigerians, but for our image, honour and reputation.”

In summary, the chairman of the meeting, admonished: “On the commercial/business side of the battle, we all need a DELIBERATE plan to fly Nigeria in this case.

“This is enlightened self-interest. When we have done our bit and Air Peace does not deliver, then we can turn our angst on them.

“This goes beyond Air Peace and aviation – this might be the catalyst to make us take: Buy Nigeria; Use Nigeria; Wear Nigeria; Drive Nigeria, Eat Nigeria, etc, more seriously.”

The National Drug Law Enforcement Agency (NDLEA) arrested a Delhi, India-bound passenger at the Murtala Muhammed International Airport, Ikeja on March 31 for ingesting 80 wraps of cocaine.

Its spokesman, Mr Femi Babafemi stated on Sunday in Abuja that the passenger was to board a Doha-bound flight en-route Delhi using a Liberian passport with the name: Carr Bismark, when he was arrested.

A body scan on the suspect revealed the ingestion of the illicit drugs, he explained.

Babafemi added that preliminary checks showed the passenger’s real name to be Freeman Ogbonna.

The NDLEA placed the passenger under observation and in a short while he started to manifest signs of discomfort.

“Obviously choked by the volume of illicit drugs in his stomach and another substance taken to hold back excretion, the suspect soon began to retch, vomited and excreted wraps of cocaine simultaneously.

“The suspect who claimed he was recruited into drug trafficking by one of his relatives, eventually passed out a total of 80 wraps of cocaine.

“He vomited or excreted the drugs, weighing 889gms over a period of four days.

“The great risk almost took his life.

“Ogbonna said he was given the drugs to swallow at a hotel in Ikeja with a promise of N300,000 reward if he successfully delivers the consignment in India,’’ Babafemi stated.

Also on April 3, the NDLEA arrested a drug mule at the airport on his way to Oman.

Its operatives discovered a false bottom in his backpack and on the sides concealing illicit drugs and also swiftly moved in on a man who accompanied the suspect to the airport.

The second man was later discovered to have been the one who recruited the passenger to traffic the drugs.

“The suspect said he returned from Dubai some years ago, but still had a valid residence permit on his passport.

“He claimed he was promised N1.5 million if he successfully delivered the consignment in Oman, while his recruiter, was to be paid N200,000.

“A charm was found in one of the passenger’s bags when they were searched and another was found on his person.

“The drug mule confessed that he travelled to Ibadan earlier where a cleric made the charms for him to evade arrest during the trip.

“Another charm was found on the recruiter who claimed the charms were procured at a cost of N70,000,’’ Babafemi added.

(NAN)

A former Edo State lawmaker, Pascal Ugbome, has been tipped to replace the Deputy Governor, Comrade Philip Shaibu, if the Edo House of Assembly impeaches him.

Naija News gathered that Ugbome, an Etsako man and a frontline member of the Legacy Coalition in the Edo chapter of the Peoples Democratic Party (PDP), is likely to replace Shaibu.

According to the Nation, the choice of Ugbome by Governor Godwin Obaseki has gotten the support of the party’s National Vice Chairman (South-South), Dan Orbih, and his teeming supporters ahead of the September 21, 2024 governorship election.

The newspaper reported that Obaseki wouldn’t want to take chances in Edo North Senatorial District, where the former state governor and the National Chairman of the All Progressives Congress (APC), Senator Adams Oshiomhole, hails from.

Ugbome, who hails from Ekperi in Etsako Central Local Government Area of Edo, is guaranteed to ensure victory for PDP’s governorship candidate, Dr. Asue Ighodalo, in Edo North senatorial district, thereby reducing the influence of Oshiomhole and Shaibu.

It was learned that the move would help Ighodalo, who is from Edo Central and has the least voting strength, and his running mate, Osarodion Ogie, who is from Edo South and has the highest voting strength.

Ugbome, a Law graduate of the University of Benin (UNIBEN), who is a former Chairman of Etsako Central Local Government Council, according to the permutation in Obaseki’s camp, would be able to convince the preferred governorship aspirant of legacy coalition, Omoregie Ogbeide-Ihama, an influential former member of the House of Representatives, to also support Ighodalo’s aspiration, thereby ensuring unity and peace in Edo PDP.

Justice Stephen Omonua (rtd.) led a seven-member probe panel set up by the Edo Chief Judge, Justice Daniel Okungbowa, on March 25 to investigate the allegations levelled against Shaibu.

The panel rounded off its three-day sitting on Friday and will soon submit its report to Justice Okungbowa for the state’s 24 lawmakers to proceed or not with Shaibu’s impeachment.

[NaijaNews]

The first quarter of 2024 saw a swift rise on the Nigerian stock exchange, with the All-Share Index reaching a laudable 104,562.06 points, marking a major increase of 39.84%.

During this period, NGX trading capital volume also experienced a substantial uptick, rising by 44.5% to close at N59.13 trillion by the quarter’s end. This surge reflects a notable N18.21 trillion increase from the initial N40.92 trillion at the beginning of 2024.

Driving this market performance were the outstanding results of individual stocks. Behind these successful companies are visionary Chief Executive Officers who navigate the challenges and steer their organizations towards financial success. With this in mind, Nairametrics highlights some of the CEOs of companies with the best -performing stocks on the NGX during the first quarter of 2024 (Q1 2024).

9. Dr. Lars Richter- Managing Director/CEO Julius Berger Nigeria Plc

Dr. Lars Richter holds a Doctorate Degree in Civil Engineering, and brings to the table vast operational experience, comprehensive technical expertise, and an in-depth understanding of Julius Berger’s operations nationwide.

• He became Managing Director and Director at Julius Berger Nigeria Plc on October 16, 2018.
• Julius Berger Nigeria Plc, the local arm of the Julius Berger Group, witnessed a significant 53.5% surge in its share price during the first quarter of 2024 (Q1 2024). Starting the year at N43.00, the company’s share price soared to N66.00 by the end of the quarter.

Furthermore, the company’s market capitalization experienced a noteworthy appreciation, increasing by N36.8 billion to reach N105.6 billion by the close of the quarter. This marks a substantial rise from the N68.6 billion valuation recorded at the beginning of the year on January 1, 2024.

8. Andrew M. Ikekhua, Managing Director-NEM Insurance

Andrew Ikekhua holds a Higher National Diploma in Mass Communication from the Plateau State School of Accountancy & Management Studies, Jos, and an MBA in Administration and Entrepreneurship from the London School of Business and Finance.

• He also obtained an MBA in Entrepreneurship from ITTL-Doctoral Research Center and the University of Phoenix, Arizona. Ikekhua is an Associate of the Chartered Insurance Institute of Nigeria (ACIIN), a Fellow of the Institute of Chartered Economists of Nigeria (FCE 2009), and holds memberships with several other professional bodies.

NEM Insurance Plc saw a remarkable 57.1% increase in its share price, closing the quarter at N9.90 compared to the N6.30 at the beginning of the year. This surge contributed to an impressive gain in the company’s market capitalization, which rose by N18.1 billion from N31.6 billion to N49.7 billion during the same period.

7. Owen Omogiafo- Transnational Corporation Plc (TRANSCORP)Dr. (Mrs.)

Owen D. Omogiafo serves as the President and Group CEO of Transnational Corporation Plc (Transcorp), Nigeria’s leading diversified conglomerate.  Prior to her current role, Owen led as MD/CEO of Transcorp Hotels Plc, overseeing the $132m renovation of the Transcorp Hilton Abuja. As a seasoned professional, she boasts over two decades of experience across various domains, holding key positions at Heirs Holdings Limited, United Bank for Africa Plc, and Accenture.

Transnational Corporation Plc, a conglomerate powerhouse, saw a 64% surge in its share price, soaring from N8.66 to N14.20 in Q1 2024. With significant holdings in Transcorp Hotels Plc and Transcorp Power Plc, the conglomerate achieved a substantial market capitalization of N577.2 billion during the quarter. This marked an impressive N225.2 billion uptick from its starting position of N352.0 billion on January 1, 2024.

6. Adaobi Nwakuche- Managing Director Veritas Kapital Assurance Plc

Adaobi Nwakuche, appointed Managing Director in December 2023, brings over 25 years of expertise in insurance. Her vast experience includes strategic partnerships, deal negotiations, channel development, and team leadership.

• Previously, she served as Managing Director/CEO of Heirs Insurance Limited, shaping its strategic direction.
• With roles as Executive Director at Heirs Holdings Group and Director of Commercial Operations, Adaobi holds a government and public administration degree from Abia State University, an MBA from ESUT Business School, and a Doctorate in Insurance and Risk Management from the European American University. She’s a member of CIIN and CII, and an alumnus of Harvard Kennedy School and Lagos Business School.

Veritas Kapital Assurance Plc, one of the insurance companies listed on the NGX was one of the best performing stocks in the NGX in Q1 2024. It gained an impressive 81.1% as its share price moved from N0.37 at the start of the quarter to N0.67 at the end of the quarter.

The company’s market cap also appreciated by N4.16 billion during the first quarter.

5. Chief Adebimpe Giwa – GMD Tripple Gee and Company Plc

Chief (Mrs) Adebimpe Giwa is a highly accomplished Administrator with extensive experience and a strong educational background, including a B.A ED (English) and Masters in Public Administration (MPA) from Lagos State University.

• She obtained her Masters in Marketing from St. Edward ‘s University, USA. She is an esteemed member of the Institute of Directors of Nigeria and a Fellow of the National Institute of Marketing of Nigeria, FNIMN . Chief Giwa is an alumni of the Lagos Business School OMP 31 and also a dedicated Rotarian.

Printing firm Tripple Gee and Company Plc made a notable impact on the NGX in Q1 2024. The company’s share price surged by 92.1%, reaching N4.13 at quarter-end from N2.15 at the beginning.

Additionally, its market capitalization increased by approximately N980 million during the quarter, totaling N2.04 billion compared to N1.06 billion on January 1, 2024. This performance shows Tripple Gee’s strong showing in the market, reflecting positive investor sentiment and confidence in the company’s prospects.

4. Ayodele Musibau Abioye-Managing Director BUA Foods

Ayodele Abioye is an experienced and multi-skilled business engineer with over 25 years in business operations, leadership and management, food manufacturing, project engineering, supply chain, change, and general management.

• Ayodele Abioye joined the BUA Group in 2021 as Chief Operating Officer for BUA Group’s food businesses and was appointed Acting Managing Director of BUA Foods Plc in 2021.
• His previous roles include General Manager at Seven-Up Bottling Company, Franchise Technical Director at Coca-Cola Nigeria, Regional Supply Chain Director with Nigerian Bottling Co. Ltd., and Chief Operating Officer for SecureID Ltd.
• Ayodele has a Bachelor’s degree in Mechanical Engineering from the University of Ilorin, a Master’s degree in Engineering Management and a PhD in Manufacturing Engineering – both from the University of Benin.

Nigeria’s largest consumer goods company and the largest member of BUA Group, BUA Foods posted an outstanding performance in the NGX in Q1 2024. The company’s share price appreciated by 96.4%, moving from N193.40 to N379.90 during the quarter.

BUA Foods’ market capitalization also appreciated by N3.36 trillion, closing the quarter at N6.84 trillion, up from N3.48 trillion posted at the start of the year.

3. Ossai Mustapha Reuben-CEO/Group Managing Director of The Initiates Plc

Ossai Mustapha Reuben is a seasoned environmentalist and Waste Manager with over two decades of experience.

• Holding a Master of Engineering Degree in Environmental Engineering and a Post Graduate Diploma in Petroleum and Environmental Law, he is a professional member of esteemed organizations like the Chartered Institution of Waste Management UK, ISWA Vienna, and the Nigerian Institute of Architects.
• Ossai’s expertise includes designing Wastewater Treatment Plants, crafting waste management programs, and serving on expert committees.
• He made history as the first African certified as an International Waste Manager by ISWA and served as the past President of Waste Management Society of Nigeria.

Waste management company, The Initiates Plc (TIP), demonstrated strong performance on the NGX in Q1 2024, with a  97.4% increase in its share price. Starting the quarter at N1.15, the company’s share price surged to N2.27 by the end of the quarter.

Additionally, TIP’s market capitalization saw a significant rise of N997 million, climbing from N1.023 billion to N2.020 billion during the same period.

2. Arvind Pathak – Group Managing Director Dangote Cement Plc

Arvind Pathak assumed the role of Group Managing Director of Dangote Cement Plc on March 1, 2023, bringing over 36 years of experience in the cement industry.

• Before joining Dangote Cement, he served as MD and CEO of Birla Corporation Ltd, showcasing his expertise in business leadership.
• Pathak previously held positions as Chief Operating Officer and Deputy Group Managing Director at Dangote Cement Plc until 2021, and as CEO of Reliance Cement from 2008 to 2015.
• He holds degrees in Electrical Engineering and Industrial Engineering and Management, complemented by international management training and a Fulbright scholarship.

Dangote Cement Plc, Nigeria’s most capitalized company, experienced a remarkable surge in its share price during Q1 2024, soaring by 114.7%. Starting at N319.90, the share price surged to N686.70 by the quarter’s end. Additionally, the group’s market capitalization witnessed a staggering increase of N6.25 trillion, rising from N5.45 trillion to N11.70 trillion.

Dangote Cement’s market share on the NGX also saw significant growth, climbing from 13.32% to 19.79% during the quarter, marking a substantial increase of 6.47 percentage points.

1. Akin Akinfemiwa- CEO Geregu Power Plc

Akin Akinfemiwa, the CEO of Geregu Power Plc, oversees strategic leadership, direction, and expansion for the business. With over 22 years of experience, he specializes in International Petroleum Products Trading and Energy. Akinfemiwa served as Group CEO of Forte Oil Plc for 8 years, leading its transformation and turning it into a profitable entity.

He also chaired Forte Upstream Services and MOMAN, and held directorial roles in African Petroleum Ghana and Fineshade Energy UK. Akinfemiwa began his career as a Business Process Analyst at FSB International Bank plc before venturing into strategic trading and supply relationships at Oando Plc.

Geregu Power Plc, the premier power company listed on the NGX, saw an astounding 150.6% surge in its share price during Q1 2024. Witnessing an impressive rise from N399.00 to N1000.00 per share, the company’s stock soared to unprecedented heights.

This surge also propelled Geregu Power’s market capitalization, which experienced a substantial increase of N1.5 trillion. Starting the quarter at N997.5 billion, the company’s market value surged to N2.5 trillion by the end of Q1 2024.

[Nairametrics]

The Rivers State Police Command has warned politicians to seek a lawful means to address grievances rather than resort to verbal attacks that can stoke violence in the state.

The warning comes on the heels of recent verbal attacks between Governor Similanayi Fubara and Nyesom Wike, his predecessor, who is now Minister of Federal Capital Territory (FCT).The crisis between the duo has set Rivers political stakeholders against one another.

Although Tunji Disu, the police commissioner, did not mention the names of Wike and Fubara directly, Police Public Relations Officer in the state, SP Grace Iringe Koko, quoted him as saying the command will not fold its hands and watch the state erupt in crisis as a result of utterances and actions of politicians.

The command implored the political class and members of the public in the state to maintain peace and abide by the laws of the land.

“The Rivers State Police Command is fully aware of the numerous political statements and sentiments that have been circulating within the state. In light of these developments, we would like to inform the general public and the esteemed people of Rivers State of the following:

“The Nigeria Police Force is the statutory and constitutional authority entrusted with the responsibilities of enforcing laws and orders, as well as protecting lives and properties, among others.

“The Rivers State Police Command, as an integral part of the Nigeria Police Force, is firmly committed to upholding and enforcing all laws and orders within the state.

“The Command will not stand idle and allow any individual or group to disrupt the existing peace in the state under any guise or pretext.

“The Rivers State Police Command will not hesitate to take decisive action against any person or group of persons found to be in violation of the laws and orders of the state. Therefore, we implore members of the public to maintain peace and abide by the laws of the land. To those involved in the ongoing political unrest, we urge you to seek peaceful/lawful means to address your grievances,” Koko stated.

Koko said the command will remain neutral and apolitical in all matters pertaining to the current political situation in the state.

[DailyTrust]

Thirty-five, 35, Corps members from the 2023 Batch A, Stream II service year in Bayelsa State were on Thursday sanctioned by the National Youth Service Corps, NYSC, for various offences against the service code.

DAILY POST gathered that while twenty-one, 21, corps members who committed various offences had their service extended, Fourteen, 14, corps members would repeat their service year.

The NYSC, however, announced that a total of one thousand, seventy-five, 1,075, Corps members who passed out meritoriously served the nation in Bayelsa State for the 2023 Batch A, Stream II service year have been discharged and issued their certificates of national service.

The State Coordinator, Mrs Okpalifo Obiageli Charity, during the low-key presentation of Certificates to Corps members, congratulated the corps members on the successful completion of the 2023 Batch A stream 2 service year.

She commended the corps members for their immeasurable contributions to the state during their service years.

She also commended the corps employers, traditional rulers and various host communities across the state for providing a conducive environment for corps members to serve the nation in the state.

Some corps members who distinguished themselves during the service year were rewarded with certificates of commendation.

While wishing them the best in their future endeavours, she enjoined those who took advantage of the SAED training programmes to put them to maximum use for their self-reliance and become employers of labour.

She thanked the NYSC staff who have mentored, supervised and monitored the corps members in their various places of primary and secondary assignments.

[DailyPost]

A28-year-old travel content creator, Pelumi Nubi, who embarked on a solo road trip from London has arrived in Lagos.

Nubi began her journey on January 31 facing various obstacles along the way.

She survived a crash in March with a video of the wrecked vehicle revealing severe damage to the front and a shattered windshield.

Nubi started from England, crossed into France, Spain and headed to Morocco then through the West Sahara Desert, Mauritania, Senegal, The Gambia, Guinea-Bissau, Guinea, Sierra Leone, Liberia, Mali, Burkina Faso, Côte d’Ivoire (Ivory Coast), Ghana, Togo, Benin finally  reaching Lagos.

The travel content creator in 2022 listed 77 countries she had visited at 27. She has reached over 80 out of the 193 countries in the world.

With respect to her adventure, Nubi wanted to show the world that “impossible” is just a word while adding that when one has enough grit and determination, impossibility would be overlooked.

Gboyega Akosile, Special Adviser, Media and Publicity to Lagos Governor on Sunday, tweeted: “Lagos State Government gives a hero’s welcome to @peluminubi_, a Nigeria-British citizen who who did a solo drive from London to Lagos.

“Pelumi was received at the Nigeria-Benin Republic border on behalf of Lagos State Government by the Hon Commissioner of Tourism, Arts and Culture, Mrs Toke Benson-Awoyinka and the Special Adviser, Tourism, Arts and Culture @IdrisConnecting.

Welcome home!”

[TheNation]

The abductors of the two students of the Federal University Wukari in Taraba State are demanding a ransom of N50m in exchange for the freedom of the students.

The Head of Information and Protocol Unit of the institution, Mrs. Ashu Agbu, disclosed this in a telephone conversation with journalists on Sunday.

“The abductors revealed that they came for the owner of the eatery and not his staff and will return to get him.

“They are demanding a ransom of N50m to free the two students. Since the incident, security agencies and youths of the area are combing the surrounding forests and bush paths to apprehend the kidnappers and will not relent until the students are rescued alive and safe,” she said.

Our correspondent reported that about 90 percent of the students and staff of the institution live outside the school premises.

The students were picked on Wednesday, April 3 at about 10:pm at a shop close to the busy area, accommodating students staying outside the school premises.

[Punch]