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Lagos food, non-food markets can now open daily – Sanwo-Olu

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LAGOS State Governor, Mr Babajide Sanwo-Olu, has approved the full resumption of operations of both food markets and non-food markets.

He said all shops and markets could now open daily for business.

The Commissioner for Local Government and Community Affairs, Dr Wale Ahmed, said the approval by the governor came as a way to further enhance trade and commerce and mitigate the hardship of recent times and ensure that Lagosians could recover fast.

Ahmed pointed out that the governor also advised the continued observance of all safety protocols.

He noted that traders and their customers must adhere strictly to the COVID-19 protocols for their safety and the citizenry at large.

The state government had initiated shut all markets along with schools and offices in March to curb the spread of the coronavirus pandemic.

And as the situation improved, it began a phased easing of the lockdown in line with the Presidential Task Force on COVID-19, with non-food markets opening on Monday, Wednesday and Friday; while those in the food business had their turn on Tuesday and Thursday.

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Inflow of foreign capital drops by 54% to $875.62m

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The total value of capital importation into Nigeria dropped to $875.62 million in the second quarter (Q2) of 2021, the National Bureau of Statistics has said.
According to the NBS, the figure represents a 54.06 per cent drop compared to the $1.91 billion in the first quarter (Q1) of 2021.

It stated this in its latest report titled, ‘Nigerian capital importation (Q1 & Q2 2021)’.
In 2020, Nigeria’s capital importation plunged by 59.65 per cent at $9.68 billion – the lowest level in four years.

“The largest amount of capital importation by type was received through portfolio investment, which accounted for 62.97% ($551.37m) of total capital importation,” the report stated.
“It is followed by other investments, which accounted for 28.13% ($246.27m) of total capital imported and Foreign Direct Investment (FDI), which accounted for 8.90% ($77.97m) of total capital imported in Q2 2021.”
Capital importation into the banking industry dominated in Q2 reaching a total of $296.51 million, followed by financing with $205.88 million and shares with $194.59 million.
In both Q1 and Q2, brewing, fishing, hotels, tanning and weaving sectors had no record of capital imports, the report added.
Similarly, only Lagos, Ogun and the federal capital territory (FCT) recorded capital inflows across Nigeria in Q2.
Lagos emerged as the top destination of capital investment in the second quarter with $780.06 million, Abuja had $95.26 million, while Ogun had $0.3 million.
By banks, foreign firms emerged as the top capital investment in Nigeria in Q2. Stanbic IBTC recorded $310.21 million, Standard Chartered was second with $282.37 million, then Citibank ($94.15 million).
The report also stated that “the United Kingdom emerged as the top source of capital investment in Nigeria in Q2 2021 with $310.26m.”

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Nigerians experience another nationwide blackout as grid collapses

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Most parts of Nigeria experienced total blackout on Wednesday after a national grid collapse, which electricity distribution companies confirmed in separate notices to their customers.
In a public notice sent out to consumers, the Abuja Electricity Distribution Company said the collapse occurred at 12.26pm but did not say how long it would last.
The notice read, “Dear Esteemed Customers,
Following a grid system outage that occurred at about 12:26 pm today, we have been unable to service our customers in Niger, Kogi and Nasarawa State as well as a significant part of the Federal Capital Territory.
“At the moment, only 20MW has been allocated to AEDC as against the over 400MW that they have been receiving in recent times.
“We urge our customers to be patient and promise that the power supply will be restored to our franchise area as soon as there is a significant improvement in our
allocation.”
In a similar notice, Eko Disco said, “Dear valued customer, we regret to inform you of a system collapse on the National Grid that’s causing outages across our network.
“We are working with our TCN partners to restore supply as soon as possible. Please bear with us.”
Ikeja Electric also sent out a message that read in part, “The current power outage is due to a nationwide system collapse that occurred at about 12:26hrs.
“Power supply will be restored gradually to various parts of the network as soon as the grid is stabilised. Kindly bear with us.”

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Niger driver kills three students, injures eight in Suleja

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Three SS1 students of the Government Secondary School Field Base Suleja, Niger State, have been killed by a vehicle that rammed into them on their way from school.
The students were trekking home on the Suleja-Kaduna road on Monday afternoon when the incident occurred.
Three of the students were killed on the spot while eight others sustained injury.
Names of the students that died were given as Abdulhafeez Musa, Kawiyat Sharafadeen and Sunday Paul.
The driver was also said to have been injured and was receiving treatment under police watch in Suleja.
Niger State Commissioner for Education, Hajiya Hannatu Salihu, described the incident as painful and tragic.
She said the students were returning from school to their parents when they met with their death in a preventable accident.
To prevent future occurrences, the commissioner stated the state government would construct speed breakers (bumps) on the roads to schools across the state.

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