Business
Economist Prof. Ajibola Criticizes Hunger Protests for Economic Disruption
Professor Segun Ajibola, a distinguished economist and former President and Chairman of the Council of the Chartered Institute of Bankers, has criticized the ongoing hunger protests in Nigeria, stating that they have severely disrupted the economy and resulted in widespread losses for everyone involved.
According to Prof. Ajibola, the informal sector, which constitutes approximately 45 percent of Nigeria’s economy, has been particularly affected.
Disruptions to both human and vehicular movement have had a detrimental impact on operators within this sector, especially those running micro, small, and medium enterprises.
He highlighted that individuals in areas where curfews have been imposed, such as roadside mechanics, barbers, hairdressers, vulcanizers, market vendors, artisans, hawkers, and laborers, are experiencing significant hardships.
These individuals rely on daily activities for their livelihood and are particularly vulnerable when public protests impede their ability to work.
Prof. Ajibola emphasized that such large-scale protests disrupt economic activities and leave lasting scars on the economy.
The resulting challenges extend beyond individual losses, affecting the overall economic health and productivity at both personal and corporate levels.
He urged that dialogue and roundtable discussions are preferable to violent protests, which constrain economic activities and exacerbate the negative impact on the economy.
The protests, which began last Thursday under the banner of #EndBadGovernance, have escalated into violence in several northern states, including Plateau, Kaduna, and Kano.
This escalation has led to curfews being imposed, resulting in additional loss of lives and property. The protesters are demanding an end to the high cost of living in Nigeria.
Dangote Petroleum Refinery has lowered the price of Premium Motor Spirit (PMS), or petrol, to N825 per litre, down from N835, as competition heats up in Nigeria’s fuel market.
This follows last month’s price reduction, when the 650,000 barrels per day refinery dropped the price from N865 to N835. The recent price change is aimed at providing more value to customers while strengthening Dangote’s position as a leader in the domestic market.
Skype, once a go-to platform for video and voice calls, is officially shutting down today, May 5, marking the end of its 22-year journey connecting people around the globe. The app was one of the first to revolutionize online communication, offering free calls over the internet long before it became common.
During its prime in the mid-2010s, Skype boasted over 300 million active users each month. Microsoft bought Skype in 2011 for a massive $8.5 billion, planning to make it a key part of its communication tools. However, as newer apps like WhatsApp, Zoom, and even Microsoft’s own Teams grew in popularity, Skype slowly lost its place.
In February, Microsoft announced it would officially shut down Skype on May 5 to focus more on Teams, which now handles most of its communication services. This move affects both free and paid users, although Skype for Business will stick around for a little longer.
Business
United Bank Of Africa, UBA, Delivers 23% Total Dividend for 2024, CEO Promises More to Come
United Bank of Africa, UBA, pays 171 Billion in total to its shareholders for the 79 percent increase for 2024.
This information was revealed during the 63rd Annual General held on the 25th of April, 2025. The UBA shareholders approved of the 3 naira dividend share, which will com bine with 2 naira interim dividend and will represent a 23 percent total dividend for 2024 in total.
It can be noted that UBA now has the highest Nigerian stocks and the CEO, Oliver Alawuba has assured the shareholders of the dividends that will be paid.”What we can assure our shareholders today is that UBA will continue to pay more dividends.”
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