Innoson Vehicles Showcases Compressed Natural Gas Powered Vehicles

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June 9, 2023

Innoson Vehicle Manufacturing has mass-produced varieties of Compressed Natural Gas (CNG) Buses, a suitable alternative for Nigerians amidst the rising price of petrol and diesel.

The Showcase of the CNG vehicles took place at the IVM factory, Nnewi on Tuesday, 6th June. The vehicles range from trucks, mini-buses, ambulances, long buses, SUVs, and several others.

At the event, the CEO of Innoson Vehicle Manufacturing, Chief Dr. Innocent Chukwuma assured Nigerians of the safety of CNG Vehicles and the availability of various kinds of cars.

“We manufacture according to demand. why we manufactured these buses because there is a demand for them now, during the COVID-19 Pandemic, we produced more ambulances, so we are on the ground and ready to produce”.

Speaking on the future of alternative fuels, the Innoson Boss says that CNG vehicles bring a solution to total dependence on one or two kinds of vehicles.

“The CNG vehicles are a solution, that’s why we produce them. We made space for CNG, LNG, and Fuel so that anyone available in an area can be used to drive the vehicles. Electric cars, biogas, and solar-powered vehicles are also produced in this factory”.

The Governor of Anambra State, ably represented by the Commissioner for Industry, Anambra state, Mr. Christian Udechukwu disclosed that Anambra State is gearing up to provide solutions to the challenges facing Nigerians because of the removal of subsidies.

In his words, “We are aware that Innoson has renewable technologies, CNG, LNG and Solar powered technologies that can contribute to the mass transport system in Nigeria and other national solutions”.

“The withdrawal of the subsidy has created a shock and the price of fuel has increased by almost 200% leading to restiveness in the Nigerian Labour Congress, the trade unions, and other Nigerians.

The cost of transportation has risen apparently and one of the ways the government can alleviate that is by introducing mass transit systems that run on alternative energies as well as fuel.

The more you have the ones that run on gas and solar, the greater the chances of a stable fuel price due to the existence of choices and Innoson offers that”.

He also added that local manufacturing and empowered industries are needed in Nigeria to boost the economy and shrink the national debt profile. All we need is for the industries and everyone else to look to local solutions and Innoson is one.”

The Head of Corporate Communications, at Innoson Vehicles, Mr. Cornel Osigwe pointed out the advantages of Natural Gas Vehicles and the need to patronize local manufacturers. According to him, “Gas has high combustion rate than fuel.

So generally, gas is more environmentally friendly. Nigerians are used to petrol cars but the abundance of natural gas has provided sustainable alternatives to all”.

Transportation is very crucial to economic development. Beyond the movement of people from one place to another, it also facilitates the quick and effective distribution of goods and services.

At this stage in Nigeria’s development, better transportation options are the perfect solution to the rising dependence on petrol and diesel to meet the transportation needs of over 200 million persons.

Innoson Vehicle Manufacturing, an indigenous car manufacturing company has produced hundreds of CNG-powered vehicles suitable for Nigerian and African Roads.

Cornel Osigwe
Head Corporate Communications
Innoson Vehicles

52 Equities Gain While 27 Lose As Market Rises by 0.20% in One Week

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Rhoda Onuzulike

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June 9, 2023

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As the trading week ended Friday June 9, fifty-two equities appreciated in price lower than 66 equities in the preceding week.

Twenty-seven equities depreciated in price higher than 23 in the preceding week, while 77 equities remained unchanged, higher than 67 recorded in the preceding week.

The review trading week recorded only one day of gain as against 4 days of decline.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation appreciated by 0.20percent to close the week at 55,930.97 points and N30.455 trillion respectively.

Similarly, all other indices finished higher with the exception of NGX Premium, NGX AFR Div. Yield, NGX Lotus II, NGX Industrial Goods, NGX Growth and NGX Sovereign Bond which depreciated by 0.75percent, 0.06percent, 0.08percent, 1.31percent, 0.51percent, and 1.50percent respectively while the NGX ASeM index closed flat.

Amid relatively lukewarm sentiment displayed in the review trading week, Lagos-based analysts at Vetiva research said they anticipate another week of mixed trading “as investors maintain their cautious approach, and favour fundamentally sound stocks”.

During the review week, Airtel Africa (+1.79percent), MTNN (+0.04percent) and Stanbic IBTC Holdings (+2.27percent) led the market’s gains.

On the laggards list, Zenith Bank (-2.10percent), Geregu Power (-0.61percent) and GTCO (-1.23percent w/w) contributed majorly to the record losses.

The market’s year-to-date (YtD) return stood at 9.13percent, while its market capitalisation increased N60.11billion.

Imo Government, FUTO Partner To Improve Sanitation

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Angel Gimalo

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June 9, 2023

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The Imo State Government and the management of Federal University of Technology, Owerri, Imo State have resolved to partner to improve sanitation, Information and Communications Technology, security and crisis resolution mechanisms amongst the varsity’s students, staff and the host communities.

The Special Adviser to the state Governor, on Rural Water Supply and Sanitation Agency, Godson Okereke, popularly known as Bishop spoke when he met the Vice Chancellor of the university, Prof Nnenna Out.

Okereke, a former leader of National Association Of Nigerian Student said that the VC was doing well in promoting academic excellence and discipline in the university.

The governor’s aide said that he was at the school to fine tune ways with the Management to revive the existing overhead Water Tanks in the University for adequate and regular supply of clean water to FUTO community and how the State government could partner with the University management to improve sanitation and conducive teaching and learning environment.

While reflecting that FUTO was rated as the 12th Institution in Engineering in Nigeria with high match in the world, Okereke said in due course FUTO is going to be number one centre of academic, economic and ICT excellence in Nigeria.

He said he was impressed with the astronomic rise of infrastructure and moral development in FUTO under Oti as VC, observing that FUTO had experienced a lot of federal and state governments presence, believing that when the projects are fully implemented FUTO would be number one University in Nigeria and one of the best in the world.

BREAKING: Pres. Tinubu Suspends Emefiele As CBN Governor

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Rhoda Onuzulike

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June 9, 2023

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President Bola Ahmed Tinubu has suspended the Central Bank Governor, Mr Godwin Emefiele, CFR, from office with immediate effect.

This is sequel to the ongoing investigation of his office and the planned reforms in the financial sector of the economy.

This was disclosed in a statement signed by Willie Bassey, the
Director, Information in the office of the Secretary to the Government of the Federation.

Emefiele has been directed to immediately hand over the affairs of his office to the Deputy Governor (Operations Directorate), who will act as the Central Bank Governor pending the conclusion of investigation and the reforms.

2023 Census Postponed to Avert National Crisis – NPC

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Rhoda Onuzulike

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June 9, 2023

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The National Population Commission, NPC said the proposed the 2023 Population and Housing Census was postponed to avert national crisis in the country.

The Federal Commissioner in Plateau State, Cecilia Dapoet made this disclosure on Friday during a meeting with stakeholders in Jos, the state capital.

This, according to her, was against widespread insinuations that the census was postponed due to insufficient funds.

The Commissioner said, “The Census exercise was earlier scheduled for May 3-7, 2023, but was postponed, giving rise to many insinuations in the public space regarding the reason for the postponement and these even though mere speculations had been given much media attention.

“The Commission is compelled to take necessary steps to correct the impression that the 2023 Population and Housing Census is postponed because of lack of funds.2023 Census: Pres. Buhari Okays Postponement

“The real reason is not money, but the government’s transition programme and post-election mood in the country. We all saw the cloud of uncertainty that hung above the nation after the elections and were careful not to fall into some pitfalls and plunge the country into more trouble. We cannot take things for granted, and decided to postpone the exercise,” she said.

The Commissioner expressed optimism that the postponement of the national census would afford the new administration, led by President Bola Tinubu to prepare adequately for the exercise.

Dapoet who however assured that the NPC would conduct the first digital census in Nigeria whenever a new date is fixed added, “Presently, we have purchased the handheld devices to be used to capture data and are safely stored at the Central Bank in Jos. This also means the software is ready in hand.

She said, “Presently, we are also getting our new leaders acquainted with the methodology and processes adopted for the current Census exercise.

“We are using the opportunity offered by this postponement to re-assess our Census Work plan and to inject any input that would add value to the strategies for implementing the methodology for optimal success.

“We need to reassure you that the coming Census will not be like the previous exercises which were marred by incidences of undercounting, multiple counting and inaccurate enumeration leading to a lack of trust in the census data and making it difficult to use for planning and development purposes.

“We have also put some measures in the process to curtail incidences of political interferences with the census process,” she remarked.

Meanwhile, the Plateau State Director of the NPC, Felicia Mwolpun, urged the citizens to cooperate and support the Commission to enable it to achieve its goals.

Malawi Deputy Minister Encourages Vocational Skills Subjects

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Nzubechukwu Anodo

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June 9, 2023

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The Deputy Minister of Education, Nancy Chaola Mdoko says vocational skills subjects and additional languages like French are very important in exposing and preparing students for future careers.

She made the statement at Mzuzu Government Secondary School on a tour of checking how the 2023 Junior Certificate Examinations (JCE) which started on Tuesday, 30th May were winding up.

She said candidates were sitting for vocational skills subjects namely Technical Drawing, Clothing and Textiles, Home Economics, Woodwork and Metalwork as well as French language, all of which are erective (optional) and Mzuzu Government Secondary School offers all these subjects.

She said erective subjects should be given maximum attention just as core subjects adding that these erective subjects provide a variety of benefits to the students and they are an important part of secondary education.

He said the technical subjects will contribute to skills development which is key for the attainment of the Malawi aspired for 2063, a wealthy and self reliant, industrialized upper middle income country.

The Deputy Minister added that erective subjects offer students a way to express themselves in ways that they chose to as they introduce the students to new fields and possible career choices.

Education Division Manager for the North, Jennings Matalabanda Kayira, said swindling funds meant for national examinations is a criminal offence and at the same time an act of misconduct which the Ministry cannot just sit and watch.

Kayira said embezzling students’ examination fees is an act of misconduct in the Malawi Public Service Regulations (MPSR).

He said it is also criminal in nature and that is why a teacher that was involved in such a malpractice in the division was handed over to the police and will appear before the court of law.

As the JCE came to an end on Thursday, 8th June, the Malawi School Certificate Examinations (MSCE) will commence on 27th June, 2023.

JAMB Bans Institutions Running Unapproved Programs

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Nzubechukwu Anodo

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June 9, 2023

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Joint Admissions and Matriculation Board (JAMB)’s has denied access to tertiary institutions running unapproved programs to jamb’s portal for the purpose of purchasing Direct Entry forms in the just-concluded Direct Entry (DE) registration.

Registrar of JAMB, Is-haq Oloyede, who revealed this at a meeting with the leadership of Community Health Practitioners Registration Board of Nigeria (CHPRBN), justified the action of the board, noting that the board only granted access to institutions or organizations that complied with guidelines.

The leader of the delegation, Professor Abdullahi Sabo Muhammed, had earlier complained of the inability of their candidates to process their DE forms as they were unable to access their profiles on the JAMB portal while those that opted for the UTME route had as a footnote on their admission letter the term illegitimate.

Oloyede pointed out that JAMB was saddled with the responsibility of managing accessibility to institutions and candidates and would always uphold that mandate diligently.

He added that the board would only grant access to erring institutions after they had done due diligence and complied with all regulations stipulated by the National Board for Technical Education (NBTE) and other relevant institutions.

He said it had come to the notice of the board that many institutions flagrantly run programs and award certificates that were not approved by their regulatory agencies and candidates, who were not qualified, ab initio, for Direct Entry were enrolled for such programs to acquire certification for it, thereby circumventing the system.

He told the delegation that as a result of these observations, many institutions which were noted to have abused the system by running diploma programs without necessary approvals were removed from the list of institutions on the board’s platform and denied access to the board’s portal until they do the right thing.

He also reminded the CHPRBN delegation of the Federal Government’s circular as issued by the Federal Ministry of Education to all statutory and regulatory agencies prohibiting organizations and institutions that are yet to get approval or proper certification from the ministry to operate.

He advised CHPRBN to support the reforms as a key player by doing the right thing at all times and getting necessary approvals from the NBTE to run National Diploma(ND), Higher National Diploma(HND) in Community Health before commencing the issuance of any certification or licence.

The leader of the delegation of CHPRBN, Professor Abdullahi Sabo Muhammed, gave a brief history and scope of the operational processes of his board and stated that their mission to JAMB, aside from registering complaints on access denial, was to plead with its leadership for a waiver for all candidates who had finished their diploma programs from past years so as to advance the pursuit of their careers.

CHPRBN also appealed to JAMB to amend its brochure to read Bachelors of Community Health (Bcho)”and not Bachelors of Sciences (B.Sc.) while the duration should be two years as against the four years hitherto stated in the brochure.

Uzodimma Warns Imo Poly Students Against Cultism

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Nzubechukwu Anodo

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June 9, 2023

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Governor of Imo State, Hope Uzodimma warns new students of Imo State Polytechnic, Omuma, against involvement in cultism, examination malpractice and alcoholism.

Speaking at the 42nd matriculation ceremony of the 2022/2023 ND1 students held at Omuma in Oru East Local Government Area of the state, the governor admonished the new intakes to be focused and studious while calling on old students to be good examples to the new ones.

Uzodimma who was represented by the Commissioner for Education, John-Cliff Nwadike, reminded them that the management would not hesitate to expel any student who parades forged certificates.

He advised the management of the institution to avoid cohabitation of students in their institution.

The governor identified cohabitation of students as a major factor that had ravaged institutions of higher learning in the country.

He also appealed to the parents to always provide food and other needs for their children in order for them not to go astray.

The Rector of the polytechnic, Kanayo Stephen Chukwuka, in his address, congratulated the matriculates and urged them to avail themselves of the culture of discipline and quality education obtainable in the institution as well as the peaceful atmosphere in the community to achieve success in their educational pursuit.

He reminded them that the polytechnic had zero tolerance for cultism, indecent dressing, examination malpractice, indiscipline and other forms of social vices.

He advised them to avoid all kinds of distractions that might prevent them from graduating in flying colors.

He hinted that the operational trajectory of the institution in the last two years had experienced a change occasioned by the relocation of the main campus from Umuagwo in Ohaji/Egbema LGA to Omuma in Oru East LGA of Imo State.

The Rector observed that the relocation of the main campus came with a lot of challenges which through the intervention of the Governor Uzodinma, they were able to abate.

He assured that the current management of the polytechnic would deliver a new educational and infrastructural system for enhanced quality education.

Once Upon A Time – June 9 – 1902 – 1st Automat Restaurant Opens At 818 Chestnut St, Philadelphia

By

Angel Gimalo

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June 9, 2023

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721 Odo of Aquitaine defeats a Umayyad Muslim army at the Battle of Toulouse

1549 Book of Common Prayer is adopted by the Church of England

1815 End of the Congress of Vienna: New European political situation is set

1856 500 Mormons leave Iowa City, Iowa, and head west for Salt Lake City, Utah, carrying all their possessions in two-wheeled handcarts

1977 Silver jubilee of Queen Elizabeth II of Great Britain celebrated with fireworks

2019 Over 1 million people protest in Hong Kong over proposed new extradition laws to China in one of largest-ever protests in the city

Historical Events Today Events in 2023

Today in Film & TV

1934 1st appearance of Donald Duck in a cartoon, “The Wise Little Hen”

Today in Music

1924 “Jelly-Roll Blues” is recorded by American jazz pioneer pianist and composer Jelly Roll Morton

Today in Sport

1973 105th Belmont: Ron Turcotte aboard Secretariat wins in 2:24, becoming the 1st Triple Crown winner in 25 years

1902 1st Automat restaurant opens at 818 Chestnut St, Philadelphia

1650 The Harvard Corporation, the more powerful of the two administrative boards of Harvard, is established. First legal corporation in the Americas.

Famous Weddings

1660 French King Louis XIV (21) marries Maria Theresa of Spain (21) at Saint-Jean-de-Luz

1908 Poet Joyce Kilmer (21) weds author Aline Murray (19)

1936 Novelist and journalist George Orwell (33) weds Eileen Maud O’Shaugnessy (30) at St. Mary’s Church

Naira Falls 1.02% After Closing Steady for 7days

By

Rhoda Onuzulike

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June 8, 2023

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Nigeria’s currency on Thursday depreciated by 1.02 percent (N4.83/$1) at the Investors and Exporters (I&E) forex window, Nigeria’s official foreign exchange (FX) market.

After trading on Thursday the dollar was quoted at N469.50 compared to N464.67 quoted since May 31, 2023, I&E window, data from the FMDQ indicated.

The local currency further weakened against the dollar on Thursday, losing 0.39 percent (N3) at the parallel market, also known as black market.

During the trading session on Thursday the dollar was quoted at the rate of N763 as against N760 on Wednesday.

The naira depreciation followed strong demand for dollars by individuals for travel allowances and school fees.

Naira has since last week steadied at N464.67 per dollar at the Investors and Exporters forex window despite a decline in the market liquidity on Wednesday.

Most currency traders who participated at the foreign exchange auction on Wednesday maintained bids between N460/$1, lower and N467/$1, higher bid.

The daily foreign exchange market liquidity declined by 24.57 percent to $140.31 million on Wednesday from $186.02 million recorded on Tuesday, data from the FMDQ indicated.

President Bola Ahmed Tinubu had in his inaugural speech on May 29, 2023 signalled plans for a single exchange rate. He said monetary policy needs thorough house cleaning and that the Central Bank must work towards a unified exchange rate.

This will direct funds away from arbitrage into meaningful investment in the plant, equipment and jobs that power the real economy.

“The naira volatility has underpinned our slow economic growth and fuelled an inefficient informal market,” Aminu Gwadabe, national president, Association of Bureau De Change Operators of Nigeria (ABCON).

Multiple exchange rates he said are ground and encourage illegal economic behaviour for rent seeking, currency substitution and hoarding, adding that the lack of unified exchange rates has acute shortages in the retail end sector of the market where the spikes and volatility is most pervasive.

“We as licensed retail exchange Business believe the unification will lead to a true market price discovery and enhance liquidity in our sub sector.

“To this end we advise the new president to embrace securitization of diaspora remittances by leveraging on the BDCs sub-sector as the most potent and effective transmission mechanisms of monetary policies in the retail end sector of the market,” Gwadabe said.