The Kwara Command of the Federal Road Safety Corps (FRSC), has called on the executives of the National Union of Road Transport Workers (NURTW) in Kwara to ensure that members of the union adhere to the safety guidelines of COVID-19.
The Kwara Sector Commander, Corps Commander Jonathan Owoade, made this call at a meeting with the executives of the association on Friday in Ilorin at the union secretariat.
Owoade enlightened the union members on the COVID-19 guidelines and protocols for public transport in respect of interstate movement.
The Sector Commander stressed the need for transport unions, terminal operators and vehicle owners to sanitise and disinfect the terminals and their vehicles regularly.
“It is mandatory for passengers and vehicle operators to wear nose guard, maintain physical distancing, have tissue papers and handkerchiefs.
“They must properly sanitise their hands before entering a public vehicle in order to protect themselves and avoid infecting other unsuspecting persons,” he said.
Owoade implored them to work with the present reality and ensure strict compliance with the COVID-19 protocols.
He emphasised the need for the transport union to constantly remind their members to avoid overloading of vehicles with goods and passengers.
The president of the union in Kwara, Alhaji Abdulkareem Ariwoola in his response, said that the union was ready to abide by the rules and ensure full compliance for the safety of people.
According to Ariwoola, the safety of every passenger is important to the union.
Edited By: Edwin Nwachukwu/Yemi Idris-Aduloju (NAN)
BP posts second-quarter post-tax loss of $16.8bn
Global energy giant BP on Tuesday reported a post-tax loss of 16.8 billion dollars in the second quarter amid lower oil prices and writedowns.
The loss compared to a post-tax profit of 1.8 billion dollars in the April to June period a year ago.
The company said that costs for writedowns of inventories and exploration charges weighed heavily on the results.
“These headline results have been driven by another very challenging quarter, but also by the deliberate steps we have taken as we continue to reimagine energy and reinvent BP,” chief executive Bernard Looney said.
By the end of decade, Looney said BP would be investing around 5 billion dollars in low-carbon projects a year, and during the same period expected daily oil and gas production to drop by 40 per cent from 2019 levels.
The company said it would cut its dividend payout for the first time since the Deepwater Horizon oil spill in the Gulf of Mexico in 2010.
Shareholders were to receive 5.25 United States cents per share, compared with the previous quarter’s 10.5 United States cents per share.
Edited By: Emmanuel Yashim (NAN)
Revival of ailing industries will strengthen currency -Expert
Mr Promise Amahah, an economic expert says revamping ailing industries and economic diversification in the country will help to strengthen the value of the Naira among world currencies.
He advised the Federal Government to also sustain the tempo in its diversification drive in different sectors of the economic to further boost the economy.
“The fall of the Naira did not just happen overnight. When Naira was stronger was when we had Peugeot Automobile Nigeria, Volkswagen Nigeria, Dunlop Nigeria Ltd, Michelin Nigeria, Bata and Lennards.
“Our Naira had value when we had Nigerian Airways, Steel Rolling Mills; Osogbo Steel Rolling Mill, Ajaokuta steel, Arewa Textile Mill, BEREC Batteries, General Motors and Kingsway among others,” he said.
Amahah, who is the Chief Executive Officer of Strategy Worth and Technology (SWAT), lauded Federal Government for its move to revive Ajaokuta Steel Company.
The expert said the commitment by the Central Bank of Nigeria to revive Nigerian Cotton Textile and Garment industries was the right step in the right direction.
Edited By: Ismail Abdulaziz (NAN)
Oil prices fall as rising coronavirus case numbers cast shadow over fuel demand pickup
This is just as major producers ramp up output.
The slide comes after WTI rose 1.8 per cent and Brent climbed 1.5 per cent on Monday on better-than-expected data on manufacturing activity in Asia, Europe and the United States.
“On the demand side, we had quite encouraging global manufacturing (data) … but there’s still quite a bit of evidence of the oil demand recovery stalling in quite a few markets with a resurgence of COVID-19,’’ said Lachlan Shaw, Head of commodity research at National Australia Bank (NAB).
Denting fuel demand, cities from Manila to Melbourne are tightening lockdowns to battle new infections, while Norway has stopped cruise ship traffic in the latest European travel alarm.
In a further sign of a patchy rebound in demand, analysts estimate United States refined product stockpiles rose last week, according to a preliminary Reuters’ poll ahead of data due from the American Petroleum Institute industry group later on Tuesday and the United States government on Wednesday.
Five analysts estimated, on average, that United States inventories of gasoline rose by 600,000 barrels.
Distillate stockpiles, which include diesel and heating oil, likely grew by 800,000 barrels, while crude stocks fell by 3.3 million barrels in the week to July 31.
At the same time producers in the Organisation of the Petroleum Exporting Countries (OPEC) and its allies, together known as OPEC+, are stepping up output this month, adding around 1.5 million barrels a day of supply.
United States producers also plan to restart shut-in production and inventories remain near historical highs.
“I think it is fair to say that most oil market participants expected more downward pressure on oil to start the week with COVID-19 ravaging the landscape and OPEC+ adding more barrels into play,’’ said Stephen Innes, Chief Global Markets Strategist at AxiCorp, in a daily note.
Edited By: Abdulfatah Babatunde (NAN)
Algeria to reopen mosques for public – President
The president made the remarks during a meeting of the High Security Council attended by top military and security officials as well as cabinet members to assess the COVID-19 epidemic inside the country.
Tebboune instructed Prime Minister Abdelaziz Djerad to programme a gradual reopening of mosques.
He added that the first phase of the programme will be limited to 1,000 large mosques in the country, which “will be able to allow the essential physical distancing with the imperative wearing of masks by all’’.
The prime minister was authorised to estimate the reopening of beaches and other places for recreation and relaxation.
Mosques, beaches and parks in the country have been closed since mid-March, as part of measures taken by the authorities to stem the spread of the COVID-19 epidemic.
Edited By: Abdulfatah Babatunde (NAN)