Headlines
Energy Crisis , Diesel Hike May Cause Job Losses, Nigerian Manufacturers Warn

By Derrick Bangura
The Manufacturers Association of Nigeria (MAN) has urged the federal and state governments to protect businesses from the country’s unreliable electricity supply and rising diesel prices.
Bioku Rahmon, the Chairman of MAN’s Kwara/Kogi branch, revealed this in a statement on Monday. He demanded that players and investors be rescued as soon as possible from the impending orgy of unemployment and widespread company closures brought on by the energy crisis. He voiced concern that the manufacturing industry was still recovering from the massive strangulations caused by the COVID-19 pandemic, while portraying the current energy crisis as the polar opposite of what the industry can’t handle right now.
He lamented that electricity generated from the national grid had recorded no improvement and was hampering the activities of MAN. MAN urged the state and federal governments to save the manufacturing sector from imminent collapse, which according to him could be a major catastrophe to the already bad economy.
It asked that interest rates on industrial loans be reduced by commercial banks, the widening of the foreign exchange windows to industries and a drastic reduction of interest rates as done with the COVID-19 era palliatives to 2.5 percent.
“Renewed wave of inflationary pressures further plunged the buying masses into extreme depths of poverty with concomitant erosion of customers’ Disposable Income (DI) and hence culminated in low patronage of our industrial finished products.
“Foreign Exchange (FX) scarcity has worsened significantly, even as industry players continue to experience a sharp and growing shrink in the FX windows. This has led to major downturns and stress in the purchase and acquisition of foreign components for production,” MAN said.
It noted that the epileptic power supply have long resulted to sharp depletion in the Key Performance Indicators (KPI) of the manufacturing industry such as capacity utilisation, unsold goods inventory, and sector contribution to National Gross Domestic Product (NGDP) especially since 2020.
Rahmon, appealed to government to initiate measures that would address the challenges, noting that last year the unfriendly operating environment and inconsistent business and investment policies of government further paralysed the manufacturing industry leading to weak results in the sector, all of which were further exacerbated by the COVID-19 pandemic.
The association urged the Kwara State government to rescue manufacturers by installing a gas-powered energy distribution plant that will exclusively supply power to industries while the CBN should give directives to commercial banks to reduce interest rates on industrial loans.
Headlines
Benue IDPs block highway, demand return to ancestral homes

Vehicular movement along the Yelwata axis of the Benue–Nasarawa highway was brought to a standstill on Wednesday as Internally Displaced Persons, IDPs, staged a protest, demanding immediate return to their ancestral homes.
The protesters, believed to be victims of persistent attacks by suspected herdsmen, blocked both lanes of the busy highway for several hours, chanting “We want to go back home”.
The protest caused disruption, leaving hundreds of motorists and passengers stranded.
Eyewitnesses said the displaced persons, many of whom have spent years in overcrowded IDP camps, are expressing deep frustration over the government’s delay in restoring security to their communities.
“We have suffered enough. We want to return to our homes and farms,” one of the protesters told reporters at the scene.
Security personnel were reportedly deployed to monitor the situation and prevent any escalation, though tensions remained high as of press time.
Efforts to reach the Benue State Emergency Management Agency, SEMA, and other relevant authorities for comment were unsuccessful.
Headlines
NNPCL reveals decision not to sell Port Harcourt refinery

The Nigerian National Petroleum Company Limited, NNPCL has officially decided not to sell the Port Harcourt Refining Company.
NNPCL has, instead said it is committed to conducting an extensive rehabilitation of the facility and ensuring its continued operation.
During a company-wide town hall meeting held at the NNPC Towers in Abuja, Bayo Ojulari, the Group Chief Executive Officer of NNPC Ltd, announced the decision regarding the future of the nation’s most significant state-owned refining asset, putting an end to weeks of speculation.
A statement by NNPCL reads, “The Nigerian National Petroleum Company Limited has officially ruled out the sale of the Port Harcourt Refining Company, reaffirming its commitment to completing high-grade rehabilitation and retention of the plant.
“The ongoing review indicates that the earlier decision to operate the Port Harcourt refinery, before full completion of its rehabilitation, was ill-informed and subcommercial.
”Although progress is being made on all three, the emerging outlook calls for more advanced technical partnerships to complete and high-grade the rehabilitation of the Port Harcourt refinery.
”Thus, selling is highly unlikely as it would lead to further value erosion.”
Headlines
Tinubu appoints Olumode Adeyemi as Federal Fire Service boss

President Bola Tinubu has approved the appointment of Adeyemi Olumode, as the new Federal Fire Service, FFS, Controller-General.
The appointment was announced on Wednesday on behalf of the Federal Government by retired Maj.-Gen Abdulmalik Jubril, Secretary of the Civil, Defence, Correctional, Fire and Immigration Services Board, CDCFIB.
Jubril said the appointment followed the retirement of the current Controller-General, Abdulganiyu Jaji, on August 13.
Jaji is retiring upon attaining the age of 60 by August 13.
Jibril further disclosed said that Adeyemi Olumode is qualified for the position, having attended and passed all mandatory in-service training, Command courses as well as other courses within and outside the country.
“He brings a wealth of experience to his new role, having transferred his service from the FCT Fire Service to the Federal Fire Service and grown to the rank of DCG in the Human Resource Directorate of the Service Headquarters.
“He has served in various capacities and is equally a member/fellow of the following professional associations including Association of National Accountants of Nigeria, ANAN, Institute of Corporate Administration of Nigeria, Institute of Public Administration of Nigeria and Chartered Institute of Treasury Management of Nigeria.”
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