Author: Platform Times Newspaper

GCR Ratings (GCR) has affirmed the national scale long-term and short-term issuer ratings of AA+(NG) and A1+(NG) for Dangote Industries Limited (DIL), reflecting strong earnings prospects from the group’s new petrochemical refinery. Concurrently, GCR has affirmed the AA+(NG) national scale long-term issue ratings for Dangote Industries Funding Plc’s Series 1 Tranche A and Tranche B Bonds, as well as Series 2 Senior Unsecured Bonds. The outlook on these ratings has been revised from Stable to Evolving. PLATFORM TIMES gathered that the affirmation comes on the back of anticipated significant earnings growth with the recent start of operations at DIL’s new…

Daud Olatunji Former Governor of Ogun State, Olusegun Osoba, has called on Nigerians to embrace “Operation Feed Yourself” as a solution to the escalating food crisis in the country.  Speaking at the Nigerian Medical Association (NMA) Leadership and Mentorship Conference in Abeokuta, Osoba revealed that he and his family have been practising backyard farming, growing various crops within their compound to mitigate the high cost of food. Osoba, who was honoured with an award by the NMA’s Ogun State Branch, emphasised the importance of backyard farming in addressing food scarcity.  He pointed out that similar initiatives in the past, such…

Former President Olusegun Obasanjo has raised concerns that individuals benefiting from the lucrative fuel importation business in Nigeria will attempt to sabotage the Dangote Petroleum Refinery.  This statement follows allegations by Alhaji Aliko Dangote, President of the Dangote Group, who claimed that certain ‘mafias’ are working to undermine his $20 billion refinery project. The refinery, which has the potential to significantly reduce Nigeria’s dependence on imported fuel, has yet to begin purchasing crude oil in naira, despite directives from President Bola Tinubu to the Nigerian National Petroleum Company Limited (NNPC).  This development underscores the challenges facing the refinery as it…

Daud Olatunji Chairman of the House Committee on Petroleum Resources (Downstream). Ugochinyere Ikenga,  has allegedly warned of dire consequences if he is removed from his position. Ikenga  claimed  to have paid a substantial $1.7 million to secure his chairmanship. The tension within the House of Representatives centers around the joint committee set up to investigate the ongoing crisis among  Dangote Refinery, the Nigerian National Petroleum Company Limited (NNPCL), the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), and other stakeholders in the oil sector.   Sources indicate that Ikenga has allegedly taken control of the committee’s operations, bypassing the co-chairman, Hon.…

Two senior officials from the Kogi State Government have voluntarily presented themselves at the headquarters of the Economic and Financial Crimes Commission (EFCC) in Abuja over the  ongoing N80 billion fraud allegation against the  former governor Yahya Bello. This move comes as  the former remains on the run, months after being declared wanted by the EFCC. Kingsley Fanwo, the state’s Information Commissioner, disclosed this development during a press briefing in Lokoja on Monday.  Fanwo said that the officials were not summoned but chose to report to the EFCC on their own accord.  “Despite not receiving an official invitation, they decided…

 The Federal High Court in Lagos has declared the sale of Nigeria Air Ltd to Ethiopian Airlines as  null and void.  The ruling was delivered on Monday by Justice Ambrose Lewis-Allagoa, who ordered that the Federal Government’s proposed establishment of a national carrier, Nigeria Air, should be halted. The judgement came as a relief to the plaintiffs, the Registered Trustees of the Airline Operators of Nigeria and five other key players in the aviation industry.  Justice Lewis-Allagoa granted all the reliefs sought by the plaintiffs, with the exception of a ₦2 billion claim for damages.  This claim was for the…

The Chief of Defence Staff, General Christopher Musa, has  stated that the Nigerian military will not tolerate any attempts to incite or execute a coup. The reinforces  the nation’s commitment to democracy. General Musa made this declaration on Monday during a press briefing with State House correspondents, following the National Security Council meeting presided over by President Bola Tinubu at the Presidential Villa in Abuja.  His stern warning was directed at those agitating for a change in government, emphasising the military’s unwavering dedication to the democratic process. “Also, the issue of coups, Nigeria is a sovereign nation, Nigeria is a…

The Peoples Democratic Party (PDP) has announced the suspension of former Benue State Governor Samuel Ortom alongside three other prominent members for alleged anti-party activities. The decision emerged from a meeting of the State Working Committee (SWC) of the PDP in Makurdi. The suspended individuals include Isaac Mffor, the state Deputy Chairman of PDP, and Mr. Bemgba Iortyom, the state Publicity Secretary.  Also suspended was Azua Ashongo, the party’s Vice Chairman of Zone A, for alleged gross insubordination and indiscipline. The Media Consultant of the PDP, Cornelius Hwande, released a statement on Monday detailing the suspensions.  According to Hwande, Ortom’s…

Daud Olatunji In a landmark achievement, 57 students, including a distinguished Nigerian scholar, Ajisafe Victor Ayobami, were honoured with gold medals for their academic excellence during the 2024 convocation ceremony at the Indian Institute of Science (IISc) in Bangalore. PLATFORM TIMES reports that Ajisafe Victor Ayobami, who pursued his PhD in Biomaterials and Tissue Engineering at the prestigious institute, emerged as a standout by developing innovative therapeutic biomaterials derived from snail mucus for the treatment of osteoarthritis. It was further gathered that  Ajissafe groundbreaking research also included the fabrication of 3D scaffolds aimed at cartilage tissue engineering.  Recognizing his exceptional…

Mass Communication, Political Science, Business Administration, and Social Science Education Students Prepare for August Contest Students in Nigeria’s tertiary institutions have a new opportunity to enhance their learning and receive financial support through a nationwide objectives virtual test.  This initiative, which will be conducted periodically, aims to reward students with support funds as they participate in the virtual tests. Scheduled to take place on the Mobile Classroom app, the nationwide objectives virtual test will cover various academic courses.  For August 2024, the focus will be on students studying Mass Communication, Political Science, Business/Public Administration, and Social Science Education. Students…