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Reconstructed Akesan Market:Makinde assures marketers of soft loans, equitable allocation of stalls

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Oyo state governor, Mr. Seyi Makinde on Friday commissioned the newly reconstructed ultra-modern Akesan Market in Oyo town, declaring that the development would boost the state’s economy.

The governor while commissioning the market assured that original shop owners will first be taken care of.

He explained that the new market comprises of 528 lock-up shops; 163 open shops; 3 warehouses; 1 cold room; a police post; an administrative block; a clinic; two toilet blocks; two car parks and four water hydrants.

He added that the market has industrial boreholes and proper road network.

“I can never forget that day in January 2020 when the Akesan Market was razed down by the fire. It was indeed a sad day. Many of you here lost everything in your shops.

“But we made a promise then, that we would rebuild this market. We said we would do it in one year. Well, COVID-19 came, and even though we did not do a total lockdown in Oyo State, it still affected us somehow. But today, just 18 months after that sad incident, I am happy to hand over to you the newly and completely reconstructed Akesan Market.

“Let me also say that everyone who had a shop in this market will get their allocations first before other shops are let out by the developers. Are you not proud of your new market? Did we add beauty or we did not add beauty to it? So, what you have here now is 528 lock-up shops 163 open shops, three warehouses, one cold room, a police post, an administrative block, a clinic, two toilet blocks (one male and one female), two car parks, one inside and the other outside the market, four water hydrants at each complex.

“We do not pray for bad things to happen. But they say once beaten, twice shy. So, we have taken that precaution that should there be any fire, it will be quickly put out.

“We also have industrial boreholes and you can see that the roads have been properly networked and interlocked just as you expect to see in any modern market all over the world,” he said.

He therefore charged all the traders to take personal responsibility for the maintenance of the market.

“So, now you have your market back. It is beautiful. But you have to promise one thing. Yes, there is an administrative block here and their job is to make sure that everyone in this market follows the rules. We also have a Police post here to enforce the rules. But, if we don’t change ourselves and how we think, rules alone are not enough.

“For example, you have been given toilets. But if the toilets are not kept clean and properly maintained, it will quickly fall into disrepair and then the local government authority will start talking about increasing the prices of the shops because maintenance cost is high. So, what I am saying is that you all should take personal responsibility for the maintenance of this market”, the governor added.

In his remarks , the Alaafin of Oyo, Oba Lamidi Adeyemi III said: “After this market got burnt on that fateful day, we were perplexed and nobody ever thought something like this could come out of the same land again. Though, some people came to give us money but what they gave could not even build two shops.

“When Seyi Makinde came and said he would rebuild it and make it a befitting market, I was marveled. And are we not supposed to thank him?

“So, I really appreciate Governor Makinde’s effort on this. I thank him for what he has done for me personally and for the people of Oyo State entirely.”

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IGP Disu seeks NIPR partnership to boost public trust in police

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NIPR President, Dr Ike Neliaku, in a handshake with the Inspector-General of Police, Olatunji Disu, at the Force Headquarters in Abuja on Tuesday.

The Inspector-General of Police, IGP Olatunji Disu, has called for stronger collaboration between the Nigeria Police Force (NPF) and the Nigerian Institute of Public Relations (NIPR) to enhance public confidence in the police.

The IGP made the call on Tuesday when he received a delegation of the NIPR, led by its President and Chairman of Council, Dr Ike Neliaku, on a courtesy visit to the Force Headquarters, Abuja.

According to a statement issued by the Force Public Relations Officer, CSP Ani Iniedu, the IGP emphasised the importance of effective communication, professionalism, transparency and fairness in strengthening the relationship between the police and members of the public.

Disu noted that every police officer was an image-maker of the Force, adding that the conduct of personnel in their daily interactions with citizens had a direct impact on public perception of the police.

He said the Nigeria Police Force (NPF) remained committed to policing by consent and promoting a service-oriented policing culture built on professionalism, empathy, accountability and respect for human rights.

The IGP also sought the support of the NIPR in providing specialised communication training for police personnel and developing a coherent communication framework that would effectively communicate the sacrifices and contributions of police officers to public safety and national security.

Earlier, Neliaku commended the IGP for his professional accomplishments and briefed him on Nigeria’s hosting of the 2026 World Public Relations Forum and Africa Charter Forum.

The international event is scheduled to hold at the Transcorp Hilton, Abuja, and is expected to attract more than 3,000 delegates from 126 member countries of the Global Alliance for Public Relations.

The NIPR delegation also sought the support of the Nigeria Police Force in security planning and coverage for the event.

Neliaku further invited the IGP to serve as a keynote speaker at the forum and encouraged police officers to register and participate as delegates.

The delegation included the Secretary-General of the African Public Relations Association, Dr Omoniyi Ibietan; Dr Suleiman Haruna; Mrs Maryam Sanusi; Mrs Olubunmi Badejo; Commandant Olusola Odumosu; Chief Uzoma Oyegbadu; Chief Moji Makanjuola; Mr Stanley Ogadigo and other members of the institute.

Iniedu said the meeting reflected the commitment of the  Police Force to building productive partnerships with professional bodies and other stakeholders to strengthen public trust, enhance public safety and promote national security.

 

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Inflation drops marginally to 15.39% — NBS

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Nigeria’s headline inflation rate fell marginally to 15.39 per cent in August 2026 from 15.43 per cent in July, according to the National Bureau of Statistics.

The NBS disclosed this in its Consumer Price Index released on Tuesday, saying the latest figure represented a 0.04 percentage point decline from the previous month.

The statistics agency, however, reported a sharper decline in the month-on-month inflation rate, which dropped to 0.71 per cent in August from 1.57 per cent in July.

The month-on-month rate, according to the bureau, declined by 0.86 percentage points compared with the July figure.

The NBS explained that the development indicated that the rate at which the average price level increased in August was slower than that recorded in July.

The latest data also showed a significant moderation in food inflation, which stood at 19.57 per cent year-on-year in August.

The figure was substantially lower than the 25.30 per cent recorded in August 2025.

On a month-on-month basis, food inflation fell to 1.02 per cent in August from 5.56 per cent in July, representing a decline of 4.55 percentage points.

The NBS said the development showed that food prices were still rising, but at a slower rate during the month under review.

It attributed the decline largely to changes in the average prices of a number of food items, including palm oil, carrots, pepper, onions, cassava flour, beef, yam flour, water yam, melon (egusi), fresh ginger, fresh fish, Irish potatoes, wheat grain, frozen chicken and turkey meat.

At the state level, Adamawa recorded the highest year-on-year food inflation rate in August at 38.85 per cent.

It was followed by Zamfara with 37.96 per cent and Bayelsa with 36.20 per cent.

On the other hand, Borno recorded the lowest year-on-year food inflation rate at -4.04 per cent, followed by Jigawa at -0.23 per cent and Kebbi at 3.47 per cent.

The month-on-month figures presented a different picture, with Katsina recording the highest food inflation rate at 9.48 per cent.

Rivers and Osun followed with 8.86 per cent and 8.32 per cent respectively.

Taraba recorded the lowest month-on-month food inflation rate at -12.42 per cent, followed by Borno at -12.15 per cent and Bauchi at -8.88 per cent.

The latest figures indicate a moderation in the pace of price increases, particularly in the food sector, although the NBS data show that consumers continue to face varying price pressures across the states.

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Nigeria’s Oil Output Rises to 1.68m Barrels Per Day

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Nigeria’s crude oil and condensate production rose to 1.68 million barrels per day in August 2026, representing a 0.4 per cent increase from the 1.67 million barrels per day recorded in July.

The Nigerian Upstream Petroleum Regulatory Commission disclosed this in its latest production report released on Sunday.

Excluding condensate, the country produced an average of 1,500,190 barrels of crude oil per day in August, allowing Nigeria to meet its Organisation of Petroleum Exporting Countries quota for the fourth consecutive month.

Daily combined crude oil and condensate production ranged between 1.64 million barrels and 1.71 million barrels during the month under review.

A breakdown of production by terminals showed that Bonny Terminal recorded the highest output at 320.04 thousand barrels per day, followed by Forcados Terminal with 317.40 thousand barrels per day.

Qua Iboe Terminal recorded an average production of 171.72 thousand barrels per day, while Escravos Oil Terminal posted 131.71 thousand barrels per day.

Bonga ranked fifth among the highest-producing terminals, with an average output of 92.50 thousand barrels per day.

The NUPRC attributed the modest improvement in August production largely to the resolution of operational challenges involving the Single Buoy Mooring at the Erha field.

The commission said the challenges had adversely affected production in the preceding month.

“The restoration of normal evacuation and production operations at the asset contributed positively to overall production volumes during the period under review,” the commission’s spokesperson, Eniola Akinkuotu, said in a statement on Sunday.

The regulator added that production activities across most other producing assets remained relatively stable during the month.

“Production activities across most other producing assets remained relatively stable, with operators sustaining implementation measures aimed at optimising production efficiency, maintaining asset integrity, and minimising operational disruptions,” the statement said.

The latest figures indicate a continued improvement in Nigeria’s oil production, with the country maintaining its OPEC quota compliance for the fourth consecutive month.

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