Olawoyin Oladeinde

Oladeinde Olawoyin reports Business & Economy, Development and Lagos Metro at Premium Times. A First Class graduate of Mass Communication from the University of Ilorin, Ilorin, he was nominated in the journalism category of The Future Awards Africa in 2017. Aside maintaining a column titled ‘SATURDAY SATIRE’, he also writes art and culture pieces on weekends. You may connect with Oladeinde on twitter (@Ola_deinde), Facebook (Oladeinde Olawoyin)

Posts by Olawoyin Oladeinde:

CBN

Why Nigeria’s inflation will remain in double digits – Afrinvest

Due to potential new shocks from an increase in energy prices and currency devaluation, inflation will remain in the double-digit region in 2017, an investment bank and research advisory firm, Afrinvest West Africa Limited, has said. According to its 2017 economic outlook, Afrinvest stated that the outlook on price levels…

Nigeria, three other countries may face famine in 2017 – Report

Due to persistent conflict, severe drought and economic instability, Nigeria and three other countries face a credible risk of famine in 2017, a report has said. In a report released Wednesday, the Famine Early Warning System Network, FEWS NET, an agency supported by the United States Agency for International Development,…

Kaduna Refinery

General Electric seeks role in operating Nigeria’s refineries

A United States multinational company, General Electric, GE, Tuesday, proposed to invest in Nigeria's three refineries. The three refineries are located in Port Harcourt, Warri and Kaduna. GE, a company with an asset valued at $493 billion, focuses on business areas including oil and gas, power, water supply, aviation, healthcare,…

NCC Headquarters used to illustrate the story.

Nigeria’s internet users reduced by 536,346 in December 2016 – NCC

The number of internet users in Nigeria’s telecommunications networks declined to 91,910,341 in December 2016, the Nigerian Communications Commission, NCC, has said. The NCC made the disclosure in its Monthly Internet Subscribers Data for November and December, obtained on Monday by the News Agency of Nigeria, NAN. According to the…

Federal Secretariat Complex, Abuja

89 per cent Nigerian workers not on pension scheme – NBS

More than 89 per cent of Nigerian workers are not registered under the contributory pension scheme, the National Bureau of Statistics, NBS, has said. According to a report released by the NBS on Monday, the Retirement Savings Account, RSA, membership distribution data for Q4 2016 reflected that 7,348,028 workers are…

Minister of Works, Power and Housing, Babatunde Fashola

Nigeria has ‘notionally’ hit 7,000 MW of electricity — Fashola

The Minister of Power, Works and Housing, Babatunde Fashola, says the sabotage of power assets by militants has prevented the nation from generating 7,000 MW of electricity. The minister, who disclosed that the nation's power grid could now support 6,500 MW debunked claims that the capacity of the nation's power…

Woman dies in Lagos autocrash

A yet to be identified woman died, Thursday, in an early morning auto crash in Lagos, PREMIUM TIMES has gathered. The accident occurred at about 2.03 a.m. at Stadium Bus Stop, Surulere. The Lagos State Emergency Management Agency, LASEMA, said a fully loaded trailer conveying granite with registration number EKY…

NNPC TOWERS

No plan to increase petrol price from N145 per litre, NNPC tells Nigerians

The Nigerian National Petroleum Corporation, NNPC, has said that the federal government has no plan to increase the price of petrol from N145 per litre. Ndu Ughumadu, the NNPC's spokesperson, stated this Thursday while enjoining motorists to desist from engaging in panic buying of petroleum products. The NNPC, according to…

NBS

Lagos, Ogun top list of revenue earners for first half 2016

The National Bureau of Statistics, NBS, says Lagos and Ogun states ‎were the top Internally Generated Revenue, IGR, earning states for the first half of 2016. According to the IGR report released by the NBS on Wednesday, Lagos State recorded the highest Internally Generated Revenue figure of N150.59 billion in…

CBN

Nigeria Central Bank bars banks from virtual currency transactions

The Central Bank of Nigeria, CBN, Tuesday, banned banks from all transactions in bitcoin and other virtual currencies. A circular signed by the apex bank's director, financial policy and ‎regulation department, Kelvin Amugo, stated that the move was necessitated by money laundering and terrorism financing risks inherent in operations of…

Heritage Bank

Sacked Heritage Bank workers ‘adequately compensated’ – Official

Heritage Bank has said that staff affected by the recent mass sack at the bank were "adequately compensated." Fela Ibidapo, the bank's spokesperson who stated this in a release posted on the bank's website on Tuesday, said the restructuring came after a review of the bank's staff strength and industry…

Lagos to install 13,000 CCTVs for emergency response

The Lagos State Emergency Management Agency, LASEMA, Tuesday said it would install 13,000 Closed Circuit Television cameras at major flashpoints across the state to boost its operations. According to a statement issued by Adebayo Kehinde, LASEMA's head of Public Affairs Unit, the move is part of efforts by the state…

Nigerians in a tight queue to buy Kerosene

Residents of Abia, Osun, Ondo paid highest price for kerosene in December – Report

Abia, Osun and Ondo states recorded the highest average prices per litre of kerosene in December 2016, the National Bureau of Statistics, NBS, has said. A report tagged the National Household Kerosene Price Watch for December 2016 stated that Abia recorded an average price of N211 per litre, while Osun…

Cooking Gas: NNPC, Sahara Energy unveil steps to ensure steady supply

The Nigerian National Petroleum Corporation, NNPC, has unveiled two dedicated vessels to help provide a permanent solution to the cooking gas supply logjam in the country. The corporation said its joint venture company, West Africa Gas Limited, WAGL, in partnership with Sahara Energy, was unveiling two liquefied petroleum gas, LPG,…

A Housing estate used to illustrate the story

RECESSION: Estate agents lament drop in prices of property

Estate agents have decried the drop in the price of landed property across Nigeria as a result of the economic recession plaguing the country. Some agents and developers who spoke with PREMIUM TIMES said that the property market was seriously affected by the economic downturn, leading to huge drop in…

Cooking Gas Price: NLNG discharges 13,000 tonnes to Lagos jetty

The Nigeria Liquefied Natural Gas Limited, NLNG's liquefied petroleum gas vessel has discharged 13,000 tonnes of gas to the Lagos jetty. The vessel is scheduled to return to NLNG’s facility in Bonny to reload, in an effort to ensure adequate supply and price stability in the market. Kudo Eresia-Eke, NLNG's…

Unilorin

ASUU’s Petition: Unilorin begins distribution of tablet PCs to students

The University of Ilorin has started distributing PC tablets to students of the institution who had been made to pay for the items over a year ago, PREMIUM TIMES has learnt. The exercise followed a meeting of the university management with student leaders and other stakeholders during which a time-table…

Nigerians in a tight queue to buy Kerosene

NNPC resumes loading of petroleum products as kerosene scarcity continues

The Nigerian National Petroleum Corporation, NNPC, says loading of petroleum products has resumed in its depots across Nigeria. Ndu Ughamadu, the corporation's spokesman, said resumption of activities at the depots followed the suspension of a strike action by the National Union of Petroleum and Natural Gas Workers, NUPENG. PREMIUM TIMES…

Nigeria inflation hits 18.55%

Increase in prices of meat, bread, fish, vegetable and other products has forced Nigerian inflation rate at 18.55 percent, the National Bureau of Statistics, NBS, has said. According to a report released by the NBS Friday, the Consumer Price Index, CPI, which is used to measure inflation, increased by 18.55…

Global Unemployment Rate To Rise In 2017 – Report

The global unemployment rate is expected to rise from 5.7 to 5.8 per cent in 2017, a new report has said. The report put together by the International Labour Organisation ILO says the modest rise represents an increase of 3.4 million in the number of jobless people. The number of unemployed…

NNPC wants Petroleum Minister empowered to fix royalties

The Nigerian National Petroleum Corporation, NNPC, on Thursday proposed that the Minister of Petroleum Resources be empowered to set payable royalties. Bello Rabiu, NNPC Chief Operating Officer, Upstream, made the proposal in a presentation to the Joint House of Representatives Committees on the amendment of the PSC Act and an…

CBN

Nigeria’s financial system stalls economic growth – Report

Nigeria's lack of an efficient and resilient financial system is holding back inclusive and sustainable growth in the country, a new report by PricewaterCooper, PwC, has revealed. The report states that Nigeria has by far the highest percentage of its population living in poverty, and its financial system also shows…

Nigerians in a tight queue to buy Kerosene

Kerosene Scarcity: NNPC refineries resume kerosene, diesel production – Official

The scarcity of kerosene being witnessed across Nigeria may soon end as the Nigerian National Petroleum Corporation’s three refineries have resumed production of kerosene and diesel, an official has said. Ndu Ughamadu, NNPC's Group General Manager, Public Affairs Division, said in a statement, Wednesday, that the refineries in Kaduna, Port…

Minister describes luggage handling process at Lagos airport as “very problematic”

The luggage handling process at the departure hall of the Murtala Mohammed International Airport, MMIA, Lagos, has been described as "very problematic." The Minister of State, Budget and National Planning, Zainab Ahmed, said this on Tuesday during a one-day tour of the airport by officials of the Ministry of Budget…

How we will run Nigeria’s petroleum industry in 2017 – Kachikwu

The Minister of State for Petroleum, Ibe Kachikwu, says the federal government will pass the Petroleum Industry Bill and revamp the nation’s refineries in 2017. Mr. Kachikwu who made this known while highlighting the plans of the petroleum ministry for 2017, disclosed that government will dissect the nation's oil and…