Business
Dele Oye Tasks OPS “Don’t Leave Nigeria Economy’s Matters To Politicians”
The newly elected President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture ( NACCIMA), Otunba Dele Kelvin Oye, has enjoined the Organised Private Sector not to leave the running of the country’s economy solely in the hands of politicians.
Dele Oye who was decorated as the 16th President of the Association, made the call during the inauguration ceremony at Ado Ekiti, Ekiti State.
He takes over from the former President- Ide John Udeagbala.
He said that his tenure would see NACCIMA partnering with the federal government to enhance the country’s economy.
“The Organised Private Sector ( OPS) members will no longer leave the country’s politicians with the economy; the country’s businessmen are also major stakeholders in the country’s economic matters,” he said.
The NACCIMA new boss promised that he wouldn’t used his new position to enriched himself, instead he will use his experience, funds and contacts to take his association to greater level, adding that he sees opportunity of service to people as an avenue to support the institution and it’s objective further.
Also, he promised that he will use his tenure to mentor and support women and youths businesses, adding that young Nigerian youths have been bringing revenues and fame to Nigeria than what an oil company could.
In his speech, the former president of the body, Udeagbala called on NACCIMA members to accord his successor the supports he needed to succeed in his new role.
Udeagbala said that has handed over the baton of leadership to Oye very happily and the caliber of the person assuming the leadership.
Business
Senate approves Tinubu’s $516.3m loan
The syndicated financing facility is being sought from Deutsche Bank, according to a letter of request Tinubu sent to the Senate last Thursday.
The Senate has approved the $516.3 million loan requested by President Bola Ahmed Tinubu.
The money will be used for the construction of the Sokoto-Badagry Superhighway (Section One, Phase 1A and B).
The approval was given on Wednesday after the Senate considered the report of its Committee on Local and Foreign Debts.
The committee, chaired by Senator Magatagarda Wamakko, recommended the approval of the loan.
The syndicated financing facility is being sought from Deutsche Bank, according to a letter of request Tinubu sent to the Senate last Thursday.
Business
Ibukun Awosika resigns from Cadbury board
The resignation takes effect from May 1, 2026, according to a statement signed by the company secretary, Afolasade Olowe.
Ibukun Awosika has resigned from the board of Cadbury Nigeria Plc, after more than 16 years of service.
The resignation takes effect from May 1, 2026, according to a statement signed by the company secretary, Afolasade Olowe.
The board expressed appreciation for her contributions since joining as a Non-Executive Director in October 2009 and noted that a replacement would be announced in due course.
Business
UAE announces exit from OPEC, OPEC+ amid Iran war tensions
UAE Energy Minister Suhail Mohamed al-Mazrouei told Reuters the decision followed a strategic review of the country’s energy direction.
The United Arab Emirates has announced it is withdrawing from OPEC and the broader OPEC+, delivering a significant setback to the oil-producing bloc and its de facto leader, Saudi Arabia, at a time when the ongoing Iran war has triggered a major global energy shock.
Reuters reported that the departure of the UAE, a longstanding member of OPEC, is expected to create uncertainty within the group, which has traditionally maintained a united front despite internal disagreements over geopolitics and production quotas.
UAE Energy Minister Suhail Mohamed al-Mazrouei told Reuters the decision followed a strategic review of the country’s energy direction.
This is a policy decision, it has been done after a careful look at current and future policies related to level of production,” said the energy minister.
When asked whether the UAE consulted with Saudi Arabia, he said the country did not raise the issue with any other nation.
The decision comes amid mounting tensions in the Strait of Hormuz, where Gulf producers have struggled to move exports due to Iranian threats and attacks on vessels.
The strategic waterway typically handles about a fifth of the world’s crude oil and liquefied natural gas shipments.
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