Business
Kano Govt Stops Buhari Visit Over New Naira Note Crisis
Kano State Governor, Abdullahi Umar Ganduje has revealed that the State wrote to the Presidency that the visit of President Muhammadu Buhari to commission some projects be postponed.
He made this known during his interactive session with scholars, legislators, political leaders and business community in the State at the Government House, Kano, on Friday.
He noted that the decision was taken to avoid any unforeseen circumstance.
“As we are waiting for this important visit, we found ourselves in this situation, which puts citizens into untold hardship. For security purposes, we wrote to the Presidency that President Muhammadu Buhari’s visit to Kano be postponed.
READ ALSO: New Naira Notes: Panic, Confusion As Nigerians Count Down To Deadline
“We got an acknowledgement copy of the letter. People are really suffering because of this policy,” the governor said, referring to the crisis over the new naira note.
During the meeting with sections of citizens in the State, they accepted that the decision was a unanimous one.
Two serving Senators from the ruling All Progressives Congress (APC), Kabiru Ibrahim Gaya and Barau Jibrin, members of the House of Representatives and thirty legislators from the State House of Assembly were amongst the groups that put their weight behind the governor.
He lamented that, “There are no banks in most of our rural communities. How these people get new Naira notes is of great concern. Just look at what is happening in our urban areas, people go and spend hours upon hours in banks. And without any assurances of getting the new notes.”
Even at the Point of Sales (POS) according to the governor, one cannot transact with ease, hinting that many of them closed shops due to uncertainty, according to DAILY POST.
He emphasised that Kano being a commercial hub must be heard loudly, insisting that, “This problem affects all of us. Therefore, our voice must be heard in all nooks and crannies. We are a commercial hub. As such, our position must be loud and clear.”
READ ALSO: Banks Hoarding New Naira Notes For Next Month’s Elections – Shehu Sani
Governor Ganduje revealed further that under one platform, Nigerian governors, without consideration to party affiliation, sent delegates to President Buhari complaining about the hardship caused by the new development.
“Governors from all the political parties put heads together and sent delegates, but to no avail. So also traditional rulers followed the same path. But up till now, there is nothing in that respect,” disclosed.
Business
Why We Sited Our Multi-Billion Naira Automobile Firm Branch in Benin – Skyewise Group CEO
Dr. Elvis Abuyere, Chief Executive Officer and Managing Director of Skyewise Group, an automobile firm, has explained the reason for establishing a branch of the company in Benin City, the Edo State capital, describing the ancient city as “a growing economy full of enormous potential for vibrant youth.”
He added that the company considers Edo State one of the most interesting states, noting that the decision aligns with its long-term vision.
Abuyere, who spoke in Benin on Monday while taking journalists on a tour of the new automobile facility, said:
“We started very small — from Abuja to Lagos and now Benin. It is a joy and privilege for us to have completed this amazing regional office with Skyewise Group.”
READ ALSO:BREAKING: Wike Picks Alabo George For Rivers Governorship
According to him, beyond the automobile business, Skyewise Group is in Benin to invest in real estate, logistics, youth empowerment, and credit management. “Aand also to lend our support to what the Edo State Government is doing, knowing the fact that there is an agenda,” he added.
The young CEO urged youths in Nigeria, particularly those in Edo State, to embrace entrepreneurship, stressing that “we believe it is the future of Africa,” especially Nigeria.
He said Nigeria stands as the giant of Africa and that its youth must take bold steps in the entrepreneurship landscape.
According to Abuyere, to ensure Edo youths actualise their entrepreneurial potential, the company has prepared soft loans to help them start businesses, adding that Skyewise Group is not limited to automobile operations.
READ ALSO:Senatorial Seat: Ogbakha-Edo Warns Against Imposition Of Candidates In Edo South
He said: “More importantly to us is youth empowerment. We want our youth to be empowered, and this is where the Skyewise Foundation comes in.
“We believe the future of Africa is entrepreneurship, and that future lies in the hands of the young people of Nigeria. We want to empower them to stand the test of time, build something meaningful, and reduce unemployment and insecurity in our land.
“I believe we need to begin taking bold steps by refining the mindset of our young people. We need to give them a sense of belonging and direction.
“We have been addressing the liquidity gap in society by providing microloans to support businesses in our environment and in Benin City.”
When asked why he chose Benin City for the multi-billion naira automobile firm, Abuyere noted: “I think this is the first automobile showroom in Edo State where you can see a car lifted from the ground floor to the first floor and beyond.”
Business
JUST IN: Nigerian Filling Stations Reduce Fuel Price After Hike
Nigerian filling stations reduced their Premium Motor Spirit price on Saturday, barely 24 hours after the hike.
Checks by DAILY POST showed that Ranoil, Empire Energy, and other filling stations in Abuja adjusted their petrol pumps to N1,365 and N1,375 per litre respectively, down from N1,440 per litre on Friday.
This means that petroleum marketers dropped their fuel price by N65 and N75 per litre. DAILY POST reports that the move was to attract patronage from customers.
Recall that three days ago, Nigerian filling stations had raised their petrol pump price to between N1,365 and N1,440 nationwide after Dangote Refinery and depot owners increased ex-depot prices to around N1,275 and N1,290 per litre.
According to DAILY POST, while the Nigerian National Petroleum Company Limited and MRS Bovas filling stations raised their petrol price to around N1,365 per litre, others adjusted theirs above N1,440 per litre.
READ ALSO:Drivers Protest Fuel Increase, Raise Fares in Benin
However, with the latest fuel price reduction by Ranoil and Empire Energy, the majority of filling station outlets now dispense petrol between N1,365 and N1,375 per litre.
This development comes as the ripple effect of crude oil prices continues to impact Nigeria’s domestic fuel price.
Brent and West Texas Intermediate crude rose to $114 and $105 per barrel before dropping to $108 and $101 after the filing of this report.
Business
Dangote Refinery Hikes Petrol Price
Dangote Refinery has increased the ex-depot price of petrol by N75.
The refinery announced the increase on Wednesday, hiking the the price from N1,200 to N1,275 per litre.
In the same way, coastal prices have gone up to N1,215 per litre.
READ ALSO:Dangote Sugar Announces South New CEO
This adjustment amid Brent crude trading at $114.80 per barrel marks a 3.15% increase.
DAILY POST reports that Brent crude has increased to $115 per barrel, while West Texas Intermediate rose to $103 per barrel on Wednesday.
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