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Business News

Governor El Rufai extends Kaduna State’s lockdown by 2 weeks starting June 1st

The Governor noted that most of the cases recorded in the state have either been from persons with a history of interstate travel. Therefore, citizens must take responsibility for their safety by adhering to guidelines.

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Kaduna state governor, El-Rufai tests positive to coronavirus, El Rufai extends lockdown by 2 weeks from June 1, releases revised regulations

Governor of Kaduna State, Mallam Nasir El Rufai has extended the lockdown in the state by two weeks, effective from June 1, 2020. This was announced by the Deputy Governor, Dr. Hadiza Balarabe, who spoke on behalf of the governor during a state broadcast on Tuesday evening after the Eid celebration.

There will be a relaxation of movement on Wednesday and Thursday, May 27 and 28, and neighborhood markets will open from 10 am-4 pm on both days to allow residents to purchase their needs before the lockdown takes effect on Monday June 1.

During the two week period, there will be adjustments during this period to allow the easing of restrictions in certain sectors and enable residents to resume their jobs.

3 lockdown-free days

Balarabe stated that there will be a three-day window every week to allow residents to shop their essential needs on Tuesdays, Wednesdays, and Thursdays. Business owners that meet the stipulated requirements will also be allowed to operate on these days. Artisans such as vulcanisers, welders, and mechanics will also be allowed to operate on the same days.

“The revised regulations are intended to preserve the state’s ability to protect citizens, empower citizens to lead the fight against Covid-19 and make necessary adjustments to permit the safe resumption of the pursuit of livelihoods in more sectors” she stated.

READ MORE:  Kaduna shuts FCMB, Keystone Bank branches over alleged N294 million tax liabilities

These businesses and organisations must remain shut

Under the revised regulations, schools and places of worship will remain shut until directed otherwise. Markets will also be closed except on the lockdown free days, while the government engages with relevant stakeholder on the circumstances for a safe reopening.

Restaurants and eateries will not entertain sit-in customers but are allowed to offer takeaway services. In the same vein, sporting centers, event centers, and relaxation centers are to remain closed. Hotels are to also remain shut as well, as they have not been specifically licensed as essential service providers during this period.

(READ MORE:Update: Court orders Sanusi’s release from confinement, meets with El-Rufai in Awe)

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The public sector will also use the two-week extension to prepare for limited resumption. Heads of Ministries, Department and Agencies will ensure that government offices are reconfigured for physical distancing and that handwashing facilities are available.

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All of the regulations are to be reviewed after two weeks.

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The governor commended the state’s residents for complying with earlier directives of the lockdown, despite the inconveniences. He assured them that their sacrifices have not been in vain.

“These sacrifices have not been in vain. Without them, infection rates will be much higher. Many citizens have embraced the exercise of personal responsibility, including wearing facemasks when outdoors, washing hands with soap and water regularly, observing physical distancing and avoiding large crowds. These new habits will help keep our communities safe” he said.

He noted that most of the cases recorded in the state have either been from persons with a history of interstate travel or have been in contact with people who traveled inter-state. Therefore, citizens must take responsibility for their safety by adhering to guidelines.

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Ruth Okwumbu has a MSc. and BSc. in Mass Communication from the University of Nigeria, Nsukka, and Delta state university respectively. Prior to her role as analyst at Nairametrics, she had a progressive six year writing career.As a Business Analyst with Narametrics, she focuses on profiles of top business executives, founders, startups and the drama surrounding their successes and challenges. You may contact her via [email protected]

1 Comment

1 Comment

  1. Anonymous

    June 1, 2020 at 4:24 pm

    We the people of kaduna state.we have know comfortable

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Consumer Goods

NSE CGI depreciates by 8% in February, recording highest decline since March 2020

The NSE Consumer goods index shed a total of 49.84 index points in February, the highest loss on the index since March 2020.

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Top 10 stockbroking firms trade N1.35 trillion on stocks in 2019, Nigerian stockbrokers facing extinctionBanking stocks lay anchor on the shaky waters of Nigerian Stock Market, Nigerian banking stocks ignore red flags, boost nigeria stock market, stock market

The Nigerian Stock Exchange Consumer Goods Index (CGI), an index that tracks the performance of consumer goods companies, depreciated by 8.12% in the month of February at the back of sell-offs and building negative sentiments in the market.

A preview of the performance of the index revealed that as of the close of trading activities on Friday 26th February 2021, the index stood at 563.85 index points, from 613.69 index points at the open of trade for the month.

In line with this, the Consumer Goods Index shed a total of 49.84 index points – the highest since March 2020 (-132.53 index points)- as wary investors offload shares of top consumer goods company on NSE, leading to the decline in the share price of Nestle, Dangote Sugar, Flour Mills, NB and eight (8) others.

Source:Tradingview

What you should know

  • The NSE Consumer goods Index was designed to provide an investable benchmark to capture the performance of companies in the consumer goods sector. The index comprises the most capitalized and liquid companies in food, beverage, and tobacco.
  • The index is based on the market capitalization methodology, as it tracks the performance of fifteen consumer goods companies on the Nigerian Stock Exchange which includes, Nestle, Nigerian Breweries (NB), Dangote Sugar, and Flour Mills.
  • The overall performance of the companies was bearish, as the index closed on a negative note in the month of February with 12 losers relative to 3 gainers.
  • NNFM (-27.48%) led the losers’ chart, while MCNICHOLS (+56.86%) was the top gainer in the month of February, followed by GUINNESS (+21.32%).

Top gainers

  • MCNICHOLS up 56.86% to close at N0.8
  • GUINNESS up 21.32% to close N23.05
  • UNILEVER up 0.74% to close at N13.95

Top losers

  • NNFM down by 27.48% to close at N7.02
  • VITAFOAM down by 22.89% to close at N7.75
  • CHAMPION down by 18.97% to close at N2.52
  • NB down by 17.46% to close at N52
  • FLOURMILLS down by 16.86% to close at N28.85

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Energy

Dangote tells FG to allow only refinery license holders to import petrol

Dangote Group has urged the National Assembly to include in the PIB a law allowing only companies with active refining license to import petroleum products.

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The Dangote Group has suggested the inclusion of a provision that in the Petroleum Industry Bill (PIB) that only companies that have active refining license should be allowed to import petroleum products.

The company, which is on the verge of completing a 650,000-barrels-per-day refinery in Lagos, said this would encourage investment in local refining.

According to a report by Punch, this disclosure was made by the Chief Strategy Officer of Dangote Group, Aliyu Suleiman, in a presentation during a visit by members of the National Assembly’s Joint committee on PIB to the project site as he highlighted several recommendations by the company.

What the Dangote Group top official is saying

Suleiman said, “Nigeria is exceptional in being a major oil producer with near-zero refining capacity.

“Though the Dangote Refinery will help address this, there could be periods when petroleum products may need to be imported, such as when the refinery is undergoing turnaround maintenance or if demand grows to exceed capacity.

The company made a recommendation for a backward integration policy to be applied in the downstream petroleum sector to encourage investment in local refining.

He said, “To support this, licence to import any product shortfalls should be assigned only to companies with active refining licences. Import volume to be allocated between participants based on their respective production in the preceding quarter. Such import will be done under the DSDP scheme.’’

The Dangote Group said that fuel imported into Nigeria are of very low quality with a harmful effect on health and also impacts the performance and durability of vehicles, especially high-performance cars.

The company suggested that to safeguard the health of Nigerians, imported petroleum products must conform to the Afri-5 specification (50 ppm sulphur) in line with the ECOWAS declaration of February 2020 on the adoption of the Afri-Fuels Roadmap.

What this means

  • The implementation of this policy suggestion will go a long to improve the local refining capacity of refined petroleum products in the country and subsequently end its massive importation that is the current trend.
  • This will also help conserve the scarce foreign exchange that is being expended on the importation of petroleum products in the country.
  • The Dangote refinery which has faced several delays in its completion is expected to take in 2021.

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Coronavirus

FG confirms Covid-19 vaccine will arrive Nigeria on Tuesday, March 2

The FG has stated that the first tranche of Covid-19 vaccines will arrive in Nigeria on Tuesday, March 2, 2021.

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FG approves reopening of NYSC camps, extends tenure of PTF on COVID-19, FG commences process of resumption of international flight operations in weeks, COVID-19: Reactions trail FG travel ban on 13 countries, FG inaugurates 16 members to PENCOM board

The Federal Government has confirmed that the first tranche of Covid-19 vaccines will arrive in Nigeria on Tuesday, March 2, 2021.

This follows the readiness of the country to receive its first shipment of 4 million Covid-19 vaccines from COVAX, a World Health Organization (WHO)-backed initiative set up to procure and ensure equitable distribution of vaccines for free among countries across the globe, as the world races to contain the coronavirus pandemic.

According to a report from the News Agency of Nigeria (NAN), this confirmation was made by the Secretary to the Government of the Federation (SGF), Mr Boss Mustapha, on Saturday in Abuja while evaluating the country’s fight against the disease.

What the Secretary to the Government of the Federation is saying

Mustapha, who is also the Chairman of the Presidential Task Force (PTF) on COVID-19, disclosed the United Nations Children’s Emergency Fund (UNICEF) would be organizing the shipment from Mumbai, India.

He said, “They (vaccines) should depart India on March 1, 2021, in the night and arrive in Abuja on the 2nd of March, 2021.”

The PTF chairman was full of praises for Nigeria’s health workers and the various frontline workers for working hard to combat the coronavirus pandemic.

In his evaluation of the country’s response to Covid-19 in the last one year, Mustapha said the PTF had performed very well with a very robust national response.

He said, “We have succeeded in discharging our mandate of managing the pandemic with a well-defined process and a robust national response.’

The SGF said that the strategies developed by his committee to manage the pandemic had been replicated in some other countries, especially the compulsory Polymerase Chain Reaction (PCR) testing for travellers.

He explained that the pandemic had helped the country to improve on its health infrastructure, citing the increase in the number of infectious diseases testing laboratories from 4 to 132 across the country.

What you should know

  • COVAX, which was set up in April 2020 to help ensure a fairer distribution of coronavirus vaccines between the rich and poor nations, said it would deliver 2 billion doses to member-states by the end of 2021.
  • The Federal Government had earlier announced that the first 4 million doses of the vaccines from COVAX would arrive in the country by the end of February 2021.
  • Ghana was reported to have received 600,000 doses of the AstraZeneca vaccines on Wednesday, making it the first African country to benefit from the COVAX programme, with Cote d`Ivoire also receiving over 500,000 doses of the Oxford-Astrazeneca COVID-19 vaccine on Friday.

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