Author: Platform Times Newspaper

In a groundbreaking revelation, PricewaterhouseCoopers Nigeria has unveiled an astonishing estimate that Nigeria is harboring a colossal $900 billion in dead capital, ensnared within residential real estate and agricultural land.  This revelation emerges from their comprehensive report titled ‘Nigeria Economic Outlook: Seven Trends that Will Shape the Nigerian Economy in 2024.’ The report not only sheds light on the sheer magnitude of dead capital but also underscores the Federal Government’s significant contribution to this dormant wealth, with abandoned properties alone estimated at a staggering N230 billion. Nigeria is grappling with a housing deficit of monumental proportions, standing at 28 million…

In a recent statement, the Federal Government has praised the Dangote Group for its significant contributions to the diversification of Nigeria’s economy.  The government lauded the conglomerate’s commitment to promoting best practices across all its operations. During a visit to the Dangote Cement plant in Ibese, Ogun State, the Minister of State for Environment, Dr Iziaq Saloko, expressed satisfaction with Dangote Industries’ international standing and its proactive approach in ensuring best practices in manufacturing. Salako, along with his entourage, emphasized the importance of mining as a key sector targeted for economic diversification under President Bola Tinubu’s administration.  He commended Dangote…

Shell Plc has declared a significant dividend payout of $23 billion to its shareholders for the year 2023, according to a statement released by the company’s CEO, Wael Sawan, on Thursday. Sawan emphasized Shell’s commitment to a ‘progressive’ dividend policy, stating, “In 2023, Shell returned $23 billion to shareholders and is now increasing its dividend by 4 percent. Additionally, we are commencing a $3.5 billion buyback program for the next three months.” The third quarter of 2023 witnessed Shell’s adjusted earnings reaching $7.3 billion, a notable 17 percent increase compared to $6.2 billion in Q3 2022.  Sawan attributed this growth…

… Begs For Abiodun’s intervention Daud Olatunji  The Okewaye  Ruling House in Ado-Odo/Ota,Ogun State has raised the alarm over an alleged plot to impose a class.mate of  a personal assistant to President Bola Tinubu, Kamal Yusuf as the Olofin of Ado-Odo/Ota. PLATFORM TIMES gathered that Yusuf was sponsoring a candidate whonwas his classmate for the vacant stool. The ruling house protested  the reconstitution of the kingmakers by the ministry of Local Government and Chieftaincy Affairs in the state ahead of the selection of the new Olofin of Ado/Odo. The Head of Okewaye ruling family, Prince Sulaimon Adedimeji, in a protest…

In a significant development, the Ogun State House of Assembly has passed a resolution, endorsing the Nigerian Union of Mine Workers’ authority to issue tickets for its products within the state’s jurisdiction.  Simultaneously, the Truck Owners Association of Nigeria has been granted the right to issue tickets at a 50% rate of charges imposed by the Nigerian Union of Mine Workers to all truck drivers loading in quarries within the State. This resolution stems from the comprehensive joint report presented by the House Committees on Industry, Trade, and Investments, as well as Justice, Ethics, and Public Petitions.  The report addressed…

In a significant development, the National Hajj Commission of Nigeria (NAHCON) has successfully negotiated a reduction in charges for the 2024 Hajj pilgrimage with the Saudi Arabian Government. The Deputy Director of Public Affairs, Fatima Sanda Usara, revealed in a statement on Thursday that these reductions encompass airfare, accommodation, and Masha’ir packages.  NAHCON Chairman, Malam Jalal Ahmad Arabi, and his team played a pivotal role in achieving this cost reduction, emphasizing the impact of global economic challenges, particularly the aftermath of the COVID-19 lockdown and the war in Europe, on intending pilgrims from Nigeria. The statement highlighted specific reductions, such…

The trial of the former Accountant-General of the Federation (AGF), Ahmed Idris, accused of embezzling approximately N109.4 billion in public funds, resumed with Idris claiming that he was deceived by the Economic and Financial Crimes Commission (EFCC) into self-incrimination. Idris, along with three others, faced a 14-count charge before a High Court in the Federal Capital Territory.  Justice Halilu Yusuf ordered a trial-within-trial to determine the admissibility of extra-judicial statements, with Idris asserting that he made these statements under duress. Lead counsel Chief Chris Uche argued that the EFCC promised immunity from trial if Idris implicated a former Minister of…

In a shocking incident, unidentified gunmen have mercilessly beheaded Inspector Osang, a police officer, in Akwa Ibom State.  The gruesome incident unfolded on Wednesday night as the assailants infiltrated his residence on a pathway connecting Enen Afaha and Afaha Ube, a suburb of Uyo City. The invasion, which occurred at 8:30p.m., witnessed the assailants entering Osang’s compound, firing shots randomly to instill fear among residents and bystanders, according to sources from the community. Regrettably, this marks the third reported killing in the area in January alone.  Prior incidents include the beheading of a woman near the banking layout in Uyo…

Mani Abubakar, a Christian residing in Katsina State, northwest Nigeria, has sought refuge as tensions escalate over a Facebook post deemed blasphemous.  The Babaruga area of the state witnessed the aftermath as an angry mob destroyed Abubakar’s house and car. Abubakar, whose current whereabouts are unknown, ignited controversy with a Hausa-language Facebook post questioning Islam and describing Prophet Mohammed as false.  In his post, he asserted, “The moment I discovered Islam was false, I held onto Jesus with the whole of my heart,” challenging the authenticity of the Quran and accusing individuals of plagiarizing the Bible. The Christian Association of…

In a move aimed at salvaging the depreciating value of the naira, President Bola Tinubu’s government has instructed the closure of Bureau De Change (BDC) centers in Abuja, the capital of Nigeria. The government reportedly engaged the Department of State Services (DSS) to enforce the shutdown, emphasizing the need to restore stability to the naira and protect its reputation. As a consequence, the DSS has taken control of the market, reflecting the government’s urgent efforts to address the currency crisis and mitigate potential embarrassment. On Tuesday, FMDQ Exchange data revealed a record low for the naira against the dollar on…