The Nation Newspaper

Author: The Nation

  • Transcorp Hotels records 62% profit in Q3

    Transcorp Hotels records 62% profit in Q3

    Transcorp Hotels PLC, the hospitality subsidiary of Transcorp Group has announced its financial performance for the third quarter of 2023, showing a strong year-on-year growth on all indices.

    The leading hospitality brand sustained strong growth, recording 31.76% growth in revenue to N29.9bn from N22.7bn the previous year, and significantly higher than pre-covid performance just as profit also grew by 62% to N5.5bn from N3.4bn.

    The results reflect the company’s commitment to delivering exceptional value to its stakeholders and sustaining its growth momentum.

    A review of the highlights of the result further showed that revenue for the period ended September 30, 2023, was N29.9bn, compared to N22.7bn in September 30, 2022, signifying a 31.76% increase.

    Besides, profit grew by 62% to N5.5bn, from N3.4bn by the end of September 2022 while the average daily rate (ADR) increased by 38% to N134,739 from N99,390 during the same period in 2022 and the revenue per available room (REVPAR) grew to N106,244 by the end of September 2023 from N77,428 at the end of September 2022, a 34% increase.

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    Commenting on the results, Dupe Olusola, Managing Director/CEO of Transcorp Hotels Plc said “This consistent financial upswing reinforces our dedication to excellence and resilience in the face of economic challenges. We have remained nimble, adapting quickly to meet the dynamic preferences of our guests.”

    According to Olusola, the Company continued to experience strong performance in its International Business Travel segment, as it took advantage of renewed investor confidence in the Nigerian economy as a new government resumed office.

    Transcorp Hotels also continues to maintain its strong leisure business, setting the pace with excellence in the delivery of both business and leisure offerings, as the importance of the Bleisure segment expands in the industry.

    Transcorp Hotels Plc. is one of Africa’s leading hospitality companies, committed to redefining hospitality standards. Transcorp Hotels is the hospitality subsidiary of Transnational Corporation Plc (Transcorp).

    The company’s hotels include the award-winning Transcorp Hilton Abuja and Transcorp Hotels Calabar. It also owns Aura by Transcorp Hotels, an online platform for booking homes, hotels and memorable lifestyle experiences.

  • University of Ottawa offers scholarships to Nigerians, others

    University of Ottawa offers scholarships to Nigerians, others

    Nigerian students and aspiring scholars from across Africa seeking international education opportunities have a new avenue for fulfilling their dreams.

    The University of Ottawa, a prestigious North American institution, is proud to announce the introduction of a new four-year renewable entrance and excellence scholarship program, with a total value of up to $100,000, specifically designed for Nigerian and other African students newly admitted to English undergraduate programs in the Telfer School of Management, engineering, science, health sciences, or social sciences.

    During a recent media briefing, the university disclosed the eligibility criteria for these scholarships, stating, “To qualify for these scholarships, international students must meet the following requirements: they must be Nigerian citizens or citizens of any African country, must be newly admitted in the fall 2024 term in one of the eligible undergraduate programmes offered in English within one of the listed faculties, must not enrolla in the French immersion stream, and must possess a valid study permit when classes commence. Furthermore, students must be enrolled full-time.”

    The university further explained, “Depending on their academic performance, eligible students may receive an excellence scholarship worth a minimum of $CAN70,000 or an entrance scholarship worth at least $CAN40,000 over four years.”

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    With a total allocation exceeding $40.5 million, the University of Ottawa’s undergraduate international scholarship and financial aid programme ranks among the most generous offered by any major Canadian institution. This programme not only recognises students’ pre-university achievements but also rewards their ongoing success throughout each term of full-time study.

    The scholarships aim to provide Nigerian and other African students studying in English with access to a wide range of programs across three faculties while significantly reducing their tuition expenses.

    To support prospective applicants through the application process, the University of Ottawa will organise multiple virtual information sessions to address questions and provide guidance to potential students.

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    The University of Ottawa stands as a vibrant international community comprising over 46,800 bright and engaged individuals, including more than 9,000 international students representing 145 countries.

    Located in the heart of Canada’s capital, the university offers world-class undergraduate and graduate programmes. It consistently ranks among the top 150 universities worldwide, making it an ideal destination for academic pursuits. Furthermore, Ottawa is consistently rated as one of the safest and most desirable cities in Canada in terms of safety and quality of life.

  • Senate to summon NNPCL’s GMD, Kyari, over 60% fund for frontier acreages

    Senate to summon NNPCL’s GMD, Kyari, over 60% fund for frontier acreages

    The Senate on Friday vowed to summon the Group Chief Executive Officer, of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, over the lack of funds to explore and develop new frontier acreages.

    The Chairman, Senate Committee on Gas, Senator Jarigbe  Agom Jarigbe, gave this hint while briefing the press after a closed-door session with the Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, and his management team in Abuja.

    Recall that the Petroleum Industry Act, 2021 introduced the Frontier Exploration Fund to support exploration and development in Nigeria’s frontier acreages.

    The areas include regions like Anambra, Dahomey, Bida, Sokoto, Chad, and Benue where hydrocarbon exploration is yet to occur or remains undeveloped.

    The PIA further provides that the Fund, constituting 30% of NNPCL’s “profit oil and profit gas” from various contracts, will be used to finance exploration and development activities in the frontier acreages.

    Jarigbe said, “We received a briefing from the CEO of NUPRC and his team on the activities of the agency.

    “Section 9 subsections 4 and 5 of the PIA provides that the NUPRC should have a Frontier Acreages escrow account for the exploration and development of frontier acreages and that fund is subject to the approval of the National Assembly.

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    “Also, section 22 subsection 1 of the Petroleum Industrial Act also provides that the National Assembly oversights the budget and expenditure of the NUPRC.

    “So, we had to interact with the commission on those issues and we discovered that there is no fund raised from 30 percent oil profit and 30 percent gas profit as provided for in Section 9 subsection 4 of the PIA.

    “So, we also intend to engage with the NNPCL on that. We don’t know the budget because we weren’t given any figure. We will get details on that and get back.”

    The lawmakers during the session noted that the issue of gas in the economy was becoming very important like a resource that can sustain a nation.

    They further insisted that scientifically, the world is gravitating towards gas.

    Earlier, the CEO of NUPRC, Komolafe, told the Senate panel that “Gas is very crucial in the revenue generation of our country, just like oil, it is equally very critical.

    “Aside from the fact that gas has been recognised as a transition fuel and for us in the commission, we focus on rapping up our gas production.”

    Kimolafe added that Nigeria has “37 barrels of crude oil as it relates to gas, reserves number of 208 tcl of gas that makes us the largest gas reserve in Africa and the ninth globally.”

  • Drug war: NDLEA ‘ll deploy personnel in 774 LGAs in 2024 – Marwa

    Drug war: NDLEA ‘ll deploy personnel in 774 LGAs in 2024 – Marwa

    • Katsina gov seeks partnership with agency

    Chairman/Chief Executive Officer of the National Drug Law Enforcement Agency, NDLEA, Brig. Gen. Mohamed Buba Marwa (Retd) has said that the anti-narcotics body will deploy personnel in all 774 local government areas of the country in 2024.

    This, he said, would be part of efforts to strengthen the war against substance abuse and illicit drug trafficking especially in local communities.

    He stated this while responding to a request for partnership and deployment of more NDLEA officers in all parts of Katsina by the state governor, Dr. Dikko Umaru Radda to tame the problem of drug abuse and insecurity in the state.

    He said with the agency’s staff strength expected to rise to 15,000 by the end of the year, the next “development is to deploy in the LGAs. We currently have zonal commands, state commands, and area commands. We want to go to the LGAs for the offensive action and the advocacy work.

    “We would need more support to succeed. I appreciate the work of the Katsina governor as the challenges are numerous in governing the state. But if insecurity is a problem and is fueled by drugs, I believe we have to collectively take it out of the security equation.”

    He commended the Kaduna governor for his efforts to surmount the various challenges faced and enhance the socio-economic development of the state.

    According to him, “The drug menace is a huge issue and has destroyed the lives of our youths and communities. It is the public enemy number one, and especially the criminal aspect of it. 99% of the criminals must first have access to drugs and be under the influence to perpetrate some of their acts. That is why the NDLEA under the collective support of the directorates and the management has put all efforts towards operation ‘offensive action.’

    “This involves going out to seize all drugs cultivated, imported, or on the verge of being exported out of the country. Over 6,668 tons of illicit substances have been seized in two years, and we assure you that we will continue relentlessly until the streets are clean of drugs. This is the drug supply reduction aspect, where we arrest the perpetrators of the act, and over 36,096 suspects have been arrested and more than 6,043 already prosecuted and convicted within this period.”

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    Speaking earlier, Governor Radda said he was at the Agency as part of his government’s efforts to solve the problem of insecurity facing the state.

     “It is no longer news that the problem of insecurity has been ongoing for years and insecurity is one of the major issues confronting Katsina State. We receive unpleasant news almost on a daily basis on what has been the issues disturbing the state for a long time. We have taken some needful steps, we set up a Katsina community watch corps with locals to complement the efforts of the conventional security agencies but that is not enough.

    “We decided to reach out to the NDLEA under the leadership of the Chairman/Chief Executive to combine our efforts and synergise to mitigate the effect of insecurity in the state. We must get to the root of the problem, and the root of the problem is drug abuse by the teeming youths in the state. We know that these inhumane acts cannot be committed without the influence of drugs.

    “This synergy is important and I recognize that the NDLEA has been making a lot of efforts in supporting the government. But we still need more support from the Chairman/Chief Executive to stop the movement of drugs and ensure the arrest and prosecution of dealers in the state.”

    “We are appealing for better partnership and synergy to reduce the abuse of drugs, the activities of banditry and trafficking in the state. We hope the partnership will go a long way in alleviating the issues of the state and improving the economy. Once insecurity is reduced, economic activities will be conducted better.

    “I appeal to the NDLEA for this support, and on behalf of the Katsina State government, we appreciate the NDLEA for the work you are doing. We hope this visit enhances a better working relationship between the NDLEA and the state”, the governor said.

  • Reps summon Naira Marley, Mohbad’s manager over late singer’s royalties

    Reps summon Naira Marley, Mohbad’s manager over late singer’s royalties

    In a bid to secure proper compensation and royalties for the late singer, Ilerioluwa Aloba (Mohbad) for his musical works, the House of Representatives has summoned controversial singer Azeez Fashola popularly known as Naira Marley to appear before it.

    Also summoned to appear before the House Joint Committees on Justice, Youth, and Legislative Compliance,  is the manager to the late singer, Jiggy Adeoye.

    The duo is to appear before the House Committees for an interactive session on Tuesday, October 31, 2023.

    In a letter dated October 26, 2023, signed by the Committee’s Clerk, Barr. Yusuf Ibrahim, the House said both Naira Marley and Mohbad’s manager were needed to guide the committee on further legislative action.

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    The letter which was routed through the President, Performing Musicians Associations of Nigeria reads: “The House Committee on Justice, Youth and Legislative Compliance invites you and the legal team of MOHBAD for an interactive meeting session as regard a referral received being a resolution of the House of Representatives during their plenary session on Tuesday 26th September 2023 with respect to the circumstances surrounding the royalties and other benefits of Mohbad and to ascertain the level of your interaction with other relevant copyright organizations, such information will guide the committee on further legislative action.”

    “In view of the above, you are kindly invited for an interactive session with the chairman, Committee on Justice, Youth and Legislative Compliance scheduled as follows; Tuesday 31st October 2023, at 2:30 pm”

    Mohbad, an ex-signee of Naira Marley’s record label died at 27 under unclear circumstances on 12 September.

    The House had resolved to wade into the matter following the adoption of a motion moved by Babajimi Benson (APC, Lagos).

  • Akpabio elected into global executive committee of Inter-Parliamentary Union

    Akpabio elected into global executive committee of Inter-Parliamentary Union

    • Be good ambassadors, Akpabio tells Nigerian community in Angola

    History was on Friday made in the far-away oil rich country of Angola, when the President of the Senate of the Federal Republic of Nigeria and leader of Nigeria’s delegation to the 147th Inter-Parliamentary Union General Assembly in Luanda, Angola broke a 59- year- old jinx, by being elected into the Executive Committee of the global parliamentary body.

    The last time a Nigerian was elected into the Executive Committee of the Parliamentary Union was in 1964.

    The Inter-Parliamentary Union (IPU) is the global organization of national parliaments founded in 1889, and dedicated to promoting peace through parliamentary diplomacy and dialogue.

    It has grown over its 135 years into a truly global organization with 179 country members out of 193 countries in the world.

    The IPU facilitates parliamentary diplomacy and empowers parliaments and parliamentarians to promote peace, democracy and sustainable development around the world.

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    A statement by the Special Assistant (Media/ Communication) to the Senate President, Anietie Ekong said Senator Akpabio, was overwhelmingly voted for by delegates across the world to emerge as an Executive Committee member of the Parliamentary Union with headquarters in Geneva, Switzerland for a three-year mandate

    While meeting with the Nigerians living in the Republic of Angola, Akpabio urged them not to engage in any act that can tarnish the image of Nigeria.

    According to Akpabio, “It is very rare to go to some countries and find the indigenes of that country being part and parcel of the foreign nationals who are living in that country like we have here and joining you to form the Nigeria-Angola Chamber of Commerce.”

  • Defence Ministry inaugurates team to achieve core mandate

    Defence Ministry inaugurates team to achieve core mandate

    The Ministry of Defence has inaugurated a strategic planning team to drive the full realization of the digitalization of the service and institutionalization of the Federal Civil Service Strategic Implementation Plan 2021-2025 (FCSSIP 25).

    The nine-member committee, drawn from the core departments of the Ministry, was inaugurated at a retreat organized by the Ministry at the Nigerian Army Resource Center on Friday, October 27.

    Speaking after inaugurating the committee, the Permanent Secretary in the Ministry, Dr. Ibrahim Abubakar Kana, said the Head of Service of the Federation (HoS), Dr. Folasade Yemi-Esan, had directed the Ministry to develop its Strategic Plan that would help in achieving the Ministry’s peculiar mandate.

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    He said the strategic plan and Ministerial objective would further be cascaded from departments to individual staff members to draw job descriptions and, strategic objectives, key performance indicators, key result areas as well as performance contracts and appraisal and review for optimal performance.

    Represented by the Director Overseeing the Office of the Permanent Secretary, Ms. Suzan Ochida, Kana urged participants to contribute their best in developing the Strategic Plan for the Ministry.

    “This retreat is therefore intended as a variable platform to harness contributions, trends, experiences, development that will culminate in the production of a policy document in line with world best practices that will stand the best of time in alliance with the vision, mission, and mandate of the Ministry of Defence,” he said.

  • NESG names centre after Ernest Shonekan

    NESG names centre after Ernest Shonekan

    The Nigeria Economic Summit Group (NESG) had honoured former Interim President, the late Dr. Ernest Shonekan by naming its Centre for Legislative Reform and Economic Growth after him.

    The NESG established the Ernest Shonekan Centre for Legislative Reform and Economic Growth to promote collaboration between the private and public sectors in Nigeria.

    It aims to achieve this collaboration by utilizing legislative instruments, which are laws and regulations created by the government, as a means to enhance synergy between the two sectors.

    The NESG said it recognizes that legislation plays a crucial role in shaping the business environment and economic policies of a country.

    Read Also: Lagos APC congratulates Tinubu, Nigerians

    By leveraging legislative instruments, the center aims to create an environment that fosters cooperation and coordination between the private and public sectors, leading to improved economic performance and growth.

     Chairman of the NESG Mr. Niyi Yusuf in his address at the launch said “the Centre will address critical issues about competitiveness and sustainability through enhanced synergy between the private and public sectors using legislative instruments.”

    The Ernest Shonekan Centre for Legislative Reforms and Economic Growth he noted will provide a unique platform for which the three initiatives strategically position the Centre to promote reforms to critical sectors of our economy.

  • No Borno community under Boko Haram control – Zulum

    No Borno community under Boko Haram control – Zulum

    • Claims security has improved by over 85%

    Borno State governor, Professor Babagana Zulum, on Friday, assured that the security situation in his state has improved by 85%, adding that no community is currently under the control of the terror group, Boko Haram.

    Zulum disclosed this while speaking to journalists after a meeting with President Bola Tinubu at the State House, Abuja.

    Borno State and most parts of the Northeast region of the country had been targets of Boko Haram and other terrorist organisations over the last 14 years, claiming hundreds of lives and leaving lives and livelihoods destroyed along the line.

    Communities in Monguno, Banki, Jere, and Domboa council areas of the State have been the most terrorised by the various groups.

    Asked about the true picture of the situation in Borno State in view of the recent reports of insecurity, Zulum said: “To be sincere and candid, the security situation in Borno State has improved by more than 85 percent. Economic activities are ongoing perfectly in Borno State.

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    “I just read some script a few days ago saying that insurgency is increasing in Borno State. The story is not right. The Nigerian army is giving us the desired cooperation, the police, the paramilitary as well as air force, and all other components of the Nigerian military are supporting us.

    “But most importantly, I want to assure you that as the chief security officer of Borno State, the state is doing well in terms of security. There’s a serious improvement in our security situation. And I commend the service chiefs for their efforts and I commend the President of the Federal Republic of Nigeria.”

    Asked if he was reassuring that all is well with all the local government areas that used to be under the control of insurgents, the governor said, “Honestly speaking, none of the 27 local government areas of Borno State are under the control of insurgents.

    “However, we have few local government areas that we want to ensure that people are completely resettled. Now, people are partially resettled there, especially Abadam Local Government and then Guzamala Local Government.

     “But by and large, in terms of the security situation in Borno State, I think the government is doing very well, the Nigerian military is also doing very well. And then nothing has happened, we keep on improving,” he said.

  • No law forbids non-muslims becoming FCT minister, Rivers elders tell Gumi

    No law forbids non-muslims becoming FCT minister, Rivers elders tell Gumi

    Concerned elites in Rivers State have condemned claims by a popular Islamic cleric, Sheikh Ahmad Gumi that it was wrong for President Bola Ahmed Tinubu to appoint a Christian as Minister of the Federal Capital Territory (FCT).

    Gumi had called on Tinubu to remove Barrister Nyesom Wike as FCT minister if he wanted to be on the same page with him.

    Convener of the elites, Chief Tony Okocha who faulted the statement on Friday while briefing reporters regretted that the outbursts of Gumi as spread by his supporters were an affront to one nationhood and described the development as treasonable under the law governing the land.

    Rejecting claims that the FCT is in the Northern region and so, the only ones who qualify to occupy the ministerial position of the FCT must be a Northerner, Okocha argued that Abuja is not a designated core northern state to be inhabited and governed only by the northerners and that the territory is not dominated by only Muslims.

    Okocha who alleged that the cleric incited the north not to be comfortable with the appointment of a non-Muslim to head security agencies in Nigeria, as none, order than a Northern/Muslim can be fair to all and sundry, accused the cleric of intending to expand the constitution of the Federal Republic of Nigeria or amending it from its prescribed Secular State status, to a mono-religious State.

    Noting that the President is at liberty to appoint any Nigerian to any office without consideration for tribe or religion, the convener said the current Minister of FCT, Nyesom Wike is fit and proper to be appointed as Minister of the territory.

    Okocha said he has not been found guilty of any infraction whatsoever, but rather has worked in tandem with the mission assigned to him within the ambit of the constitution of Nigeria and remains unshakable.

    According to him, any call for his sack is maliciously orchestrated and so, cannot hold water.

    Okocha said: “The Muslim cleric took to the pulpit in Hausa language to say the FCT is in the Northern Region and so, the only ones who qualify to occupy the Ministerial Position of the FCT must be a Northerner.

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    “How does being a Christian make one an infidel or how could Sheikh Gumi refer to the occupant of the FCT Ministerial office, one tested and proven as an infidel?

    “Is Abuja designated a core northern state to be inhabited and Governed only by the northerners?

    Are all northern Indigenes Muslims?

    “Is Gumi intending to expand the Constitution of the Federal Republic of Nigeria or amending it from its prescribed Secular State status, to a mono-religious State “suo moto”’ and in this case, Nigeria being an Islamic State?”

    “Having lost in his hitherto lucrative business of negotiations of ransom between the abductors and abductees, Gumi feels badly bruised and therefore, anything goes.

    “Sheikh Gumi having publicly campaigned against the voting of anyone who, according to him, is against bandits, is deficient in moral rectitude and “ipso facto” lacks moral imperative to speak.”

    On an alleged plan to demolish the national mosque, Okocha stated: “The Purveyors of this villainous venom have the latent and patent intentions to show off the Hon. Minister as one against the Muslim faith and hater of the North.

    “Not even the swift rebuttal of the orchestrated lies and blatant falsehood by the Executive Secretary of the FCTA and even the unequivocal denial of the Hon. Minister made meaning to the mischief-makers and naysayers.

    “For the records, it goes without saying that the Minister of the FCT, is not known as a coward, rather, he is a man that exudes unfettered and deft courage and boldness.”