Business

LASG Transfers Epe General To FG, To Be Named FMC

Published

1 year ago

October 4, 2024

Lagos State Government has officially transferred Epe General Hospital to the Federal Government, elevating it to the status of a Federal Medical Centre (FMC), Epe.

The handover was finalized on Thursday at the Landmark Event Centre, Oniru, Victoria Island, where Governor Babajide Sanwo-Olu signed a Memorandum of Understanding (MoU) on behalf of Lagos State, while the Honourable Minister of State for Health, Dr. Tunji Alausa, signed on behalf of the Federal Government.

With this transition, the newly designated FMC, Epe, will be equipped to offer a broad range of specialized medical services. These include paediatric care with a Neonatal Intensive Care Unit (NICU) for critical newborns, as well as a state-of-the-art Medical ICU for adults.

In addition, the centre will provide advanced surgical services including

Open-heart surgeries
Specialized obstetric and gynaecological services for high-risk pregnancies
Modern emergency and trauma centre
Nephrology services, including dialysis and kidney transplants
Radiological services, such as CAT scans and MRI procedures
Orthopaedical care, including spinal surgery options
Burns and plastic surgery services.

This FMC will also serve as the clinical posting site for students of the Federal College of Complementary and Alternative Medicine (FEDCAM).

The establishment of FEDCAM on-site will allow students pursuing courses in acupuncture, naturopathy, homeopathy, chiropractic medicine, osteopathy, and herbal medicine to gain hands-on experience within a world-class medical facility.

School of Nursing

In a further boost to healthcare education, there are plans to establish a School of Nursing at the centre. This new nursing school will provide critical training to healthcare professionals, ensuring that the next generation of nurses are well-prepared to deliver top-tier care.

The move is expected to significantly improve access to healthcare services for the people of Epe and surrounding areas, enhancing the range of treatments available while also promoting healthcare education through the integration of nursing and complementary medicine programs.

Business

OPEC+ Output Dips as Nigeria, Libya, Venezuela Miss Targets

Published

1 week ago

November 5, 2025

By Onyeanya Ebere Immaculata

Crude oil production in Nigeria, Libya, and Venezuela fell in October, slowing overall OPEC+ output and undermining the group’s monthly targets.

Reuters reported that OPEC+ added only 30,000 barrels per day (bpd), in October, down sharply from September’s 330,000 bpd increase. Nigeria’s output, which briefly reached 1.5 million bpd in July, slipped back to 1.3 million bpd in September.

NNPCL CEO Bayo Ojulari attributed the decline to industrial disputes involving Dangote Refinery and petroleum unions NUPENG and PENGASSAN.

Oil prices fell amid global market weakness and a stronger U.S. dollar. Brent crude dropped 6 cents to $64.38 per barrel, WTI lost 10 cents to $60.46, and the OPEC Basket fell 0.26 cents to $66.72.

Analysts noted that rising U.S. crude inventories and negative risk sentiment pressured the market.

OPEC+ plans to raise output by 137,000 bpd in December but will pause increases in early 2026, a move analysts say is unlikely to boost prices in the near term.

Business

Onafowokan Unveils Africa’s Largest Fibre-Optic Cable Plant in Ogun

Published

2 weeks ago

November 4, 2025

By Samson Adeyanju

Chairman of Coleman Technical Industries, Asiwaju Solomon Onafowokan, has inaugurated Africa’s largest fibre-optic cable factory in Sagamu, Ogun State, to boost Nigeria’s digital infrastructure and reduce reliance on imports.

The launch, which marked Coleman’s 50th anniversary, drew senior government officials and telecom executives.

The 350,000-square-metre facility can produce 9 million kilometres of fibre-optic cable yearly, alongside smelting units for aluminium and copper.

Onafowokan said the project reinforces Coleman’s commitment to local manufacturing and supports the government’s digital economy agenda, targeting ₦15 trillion in domestic and export revenue.

President Bola Tinubu, represented at the event, lauded the project as a milestone for industrial diversification and broadband expansion.

The Minister of Communications, Dr. Bosun Tijani, also announced a $500 million World Bank-backed partnership to deploy 90,000 kilometres of fibre nationwide.

Business

Private Sector Key to Africa’s Growth Under AfCFTA -Randle

Published

2 weeks ago

October 29, 2025

By Omoniyi David

Chairman of the NEPAD Business Group Nigeria (NBGN), Bashorun J. K. Randle, has emphasized the vital role of the private sector in driving Africa’s economic growth under the African Continental Free Trade Area (AfCFTA).

Randle made the remark ahead of a high-level business forum scheduled for October 30, 2025, at Eko Hotels & Suites, Lagos, themed “Mobilising Africa’s Private Sector for AfCFTA towards Africa’s Economic Development Amid Global Uncertainty.”

He said Africa’s economic transformation depends on the active participation of private enterprises, noting that the forum seeks to develop strategies to boost intra-African trade, industrial competitiveness, and inclusive prosperity.

According to NBGN, the event will promote partnerships and dialogue on policy alignment, trade facilitation, investment promotion, and value-chain development among African economies.

Participants are expected from government agencies, financial institutions, business associations, and regional economic communities across the continent.