GCR affirms Dangote Cement issuer ratings of AA+(NG) and A1+(NG)
CEO, CFO purchase additional 1.28 million units of United Capital Plc shares
Governor Sanwo-Olu says 24,000 students yet to resume in public schools
Breaking: Joe Biden sworn-in as the 46th President of the United States
FEC approves 65 years retirement age for teachers, okays special allowances
COVID-19 Update in Nigeria
How Access Bank got Japaul to pay up N37 billion loan that had gone bad
Covid-19: FG launches Rapid Response Register (RRR) for urban poor affected by pandemic
Naira strengthens at NAFEX window despite 61% drop in dollar supply
McCaleb, co-founder of Ripple sells 28.6 million XRP
Business News
NNPC, DPR, and Customs set up task force to tackle smuggling of petroleum products
The NNPC, Nigerian Customs Service, and the DPR have set up a committee to put an end to the smuggling of petroleum products across the country.
A tripartite committee consisting of the Nigerian National Petroleum Corporation (NNPC), Nigeria Customs Service (NCS), and the Department of Petroleum Resources (DPR), has been set up to tackle the growing incidents of petroleum products smuggling to neighbouring countries.
The inaugural meeting was held in Abuja – The inaugural meeting which was held at the Customs House on Tuesday in Abuja, was attended by the Group Managing Director, NNPC, Dr Maikanti Baru, Controller General of the NCS, Col. Hammed Ali, and the Director of the DPR, Mr Mordecai Ladan.
Smuggling of petroleum products is affecting the economy – Speaking at the inauguration, Maikanti Baru said the smuggling of petroleum products across the country’s borders was causing serious revenue losses, and had been rendering all efforts of the Government to make sure petroleum products are appropriately distributed across the country useless.
“The negative economic impact of smuggling is that it is undermining Nigeria’s economic growth as a huge amount of money is spent in terms of under-recovery. This huge loss is draining the treasury. Remember, these are monies that could be used to develop several critical sectors of the economy.”
Some other efforts have been made – Recall that Nairametrics had earlier reported that the DPR also created and distributed the National Production Monitoring System (NPMS), to track petroleum production and it’s movement.
The job of the committee
The committee would close down unlicensed filling station – The committee reported that some unlicensed filling stations along the borderline had been identified as being responsible for the smuggling of petroleum products.
They will make sure such filling stations are closed, and also tackle other methods used in smuggling petroleum products.
They would monitor licensed filling stations – The Comptroller-General of Customs, Col Hameed Ali, said, the committee would also monitor the activities of licensed filling stations.
“We have enough men and resources that can manage the nation’s 4,070km border-line and address this menace once and for all. What we need, however, is information on a real-time basis.”
Companies
GCR affirms Dangote Cement issuer ratings of AA+(NG) and A1+(NG)
Global Credit Ratings has affirmed Dangote Cement issuer ratings of AA+(NG) and A1+(NG).
Coronavirus
Governor Sanwo-Olu says 24,000 students yet to resume in public schools
24,000 students in public schools are yet to return back after the reopening of schools, according to Governor Sanwo-Olu.
The Lagos State Governor, Babajide Sanwo-Olu, has revealed that about 24,000 students in public schools are yet to come back after the reopening of schools following last year’s lockdown necessitated by the first wave of Covid-19 across the country.
This is as the governor said that resumption of school activities Monday, January 20, 2021, was a difficult decision to make in light of the second wave of Covid-19.
This disclosure was made by the governor while peaking during a press conference on Covid-19 update at the Lagos House, Ikeja on Tuesday.
Sanwo-Olu assured that it was the best decision for the children’s safety and long-term development, especially the most vulnerable ones.
What the Lagos State Governor is saying
Sanwo-Olu in his statement said, “Last year after the first lockdown and kids have to come back to school, we are still looking for about 24,000 of them that have not come back to school. So, there is a challenge if you keep them out for that long and their parents or guardians now turn them to other things instead of ensuring that they have time to come back for learning even if it is twice or thrice a week.
“At least they have been registered since the beginning of a session and they can be monitored. If not, they will just be roaming the streets and become endangered. We have seen incidents of child abuse and all unprintable things that are being done to these children. So, we believe to a large extent that schools sometimes happen to be the safe haven for them. We have done the roster in which we ensure they keep social distance and we are monitoring,” he said.
What you should know
- It can be recalled that public and private schools below the tertiary level in Lagos State, On Monday, January 18, 2021, reopened for academic activities despite opposition from some stakeholders due to the second wave of coronavirus pandemic in the state.
- Following the surge in the number of infections in the state, which is the epicentre of the disease in the country, there were complaints about the state of preparedness of the schools, especially the public ones, in adhering to the strict Covid-19 protocols and guidelines.
Around the World
Breaking: Joe Biden sworn-in as the 46th President of the United States
The whole world watched in awe as Joe Biden was sworn in as the new President of the United States.
Joe Biden has been sworn in as the 46th President of the United States.
The 78-year-old Democrat and former Vice president to Barack Obama is being sworn in after emerging the winner of last year’s Presidential elections.
Biden’s running mate, Kamala Devi Harris was sworn in as vice president by Justice Sonia Sotomayor, becoming the first woman and the first black and Asian-American person elevated to serve in a role a heartbeat from the presidency.
The inauguration took place at the US Capitol, the same building that was stormed on January 6, by Donald Trump’s violent supporters.
Trump who for months refused to conceded to Biden’s victory at the polls left the White House for the final time hours earlier and flew to Florida after making it clear weeks ago that he will not be attending the inauguration.
Trump’s Vice, Mike Pence attended the ceremony, as he skipped Trump’s farewell military salute event at Andrews base.
The ceremony includes musical performances by Lady Gaga – who sang the national anthem – as well as Jennifer Lopez and Garth Brooks.
Former Presidents; Barack Obama, George W. Bush and Bill Clinton were all present at the inuaguration
What you should know
- At 78, Biden is the oldest president ever to take the oath of office.
- In his speech, Biden swore to defend the constitution and the country “against all enemies, foreign and domestic”.
- History was made as Kamala Harris became America’s first female, first Black and first Asian American vice-president.
- Donald Trump skipped the ceremony, becoming the first president not to attend his successor’s inauguration since 1869.
