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Abuja motorists selling off their big cars for fuel-efficient vehicles

Published

Sunday, 22 December 2024, 5:10 am

Abuja motorists selling off their big cars for fuel-efficient vehicles 1

Abuja motorists selling off their big cars for fuel-efficient vehicles, The News Agency of Nigeria (NAN) investigations reveal that many car owners in the nation’s capital are selling off or abandoning their big cars in preference to compact ones.

They are snapping up small cars not only because they are cheaper to own, but also typically more fuel-efficient.

Some vehicle dealers who spoke to NAN confirmed that small car sales are outpacing the rest of the market, since the fuel subsidy removal.

Mr Sankay Yagbaza, Manager of a car stand in Dawaki, said his frequenters now asked for cars like Kia Picanto, Forte, Suzuki Swift, Grand Vitara, Toyota Matrix, Nissan Micra and other low fuel consumption cars.

“The high fuel price has humbled buyers, a lot of people even prefer to join public transport these days, rather than drive their own cars.

“Before now, cars like Picanto and Matrix were mostly bought by women or beginners. People buy them to master the act of driving before buying bigger cars.

“But, men are buying them now, because they just need a small car that will not consume much fuel to move them around.’’

John Eze, a car stand manager at Airport Road, said his patrons have been asking for more small cars, adding that he had exhausted the compact cars available in his stand.

“It is the desire of most Nigerians now, to own cars that have low fuel consumption, such as Honda Civic and the small Toyota Corolla.

Another car dealer in Garki, Mr Usman Sombo, said that he had lost so much patronage because he did not have compact cars in stock.

“I used to sell between eight and 10 cars in a month, but since the fuel subsidy removal, the sale has dropped to two or three cars in a month.

“As you can see around, I deal more on big cars. Because of low patronage, it has been difficult for me to raise funds to stock compact cars which are now in vogue.

“Most of the customers we receive in our stand are asking for compact cars because of their fuel efficiency.

“They also consider the cost of the compact cars, which ranges between N4 million to N6 million, depending on the make and grade,” the Tokunbo car dealer said.

A civil servant, Lawrence Ogunleye, who spoke to NAN at the Federal Secretariat car park, explained why he opted for a small car.

“Before owning this Kia Picanto, I drove a Toyota Venza, which I have now packed and reserved for a long journey.

” I come to the office and move around with this small car now, and it has saved me a lot of money on fuel.

“Although I feel less safe in the small car while driving on the highway, compared to the Venza, it has its own advantages.

“Besides the less fuel mileage, it is easier to move around narrow streets, easy to park and cheaper to own.

The car is more maneuverable, better handled and it is a lot more fun to drive,” he said.

Samson Ugwuoke, another civil servant said his Toyota Matrix has been serving him well, with an average fuel consumption of N25,000 weekly from his house in Dutse to his office, at the Federal Secretariat, a distance of about 20 kilometres.

“The car is helping me a lot, and I still pick passengers to and from work to help me cover the cost of fuel,” he said

Mary Jatau, a teacher said she bought a Nissan Micra in July 2023 and it has been serving her well.

“All I need is just N20,000 fuel for a whole week. I go to work, market and still drop off my kids in school.

“Before now, you hardly see my husband drive the car. But now, he competes with me, to the extent that I sometimes hide the key.

“My husband’s Lexus 330 Jeep has become a burden to him because of the high cost of fuel,” she said.

Victor Agbo, a lecturer, said he sold his Nissan Pathfinder SUV for a hybrid car, the Toyota Camry which uses petrol and electricity.

“When the car is running on petrol, it charges itself. Once it is charged, it will switch from fuel to electric, while driving at the speed of at least, 50km per hour.

“I have been using the car for about eight months now, it has not given me any serious issues,” he said.

An Auto Engineer, Sylvester Edosa, said most compact cars come with small engines that do not require much fuel, “they are light and the engine loads are also not heavy.

“While the big cars are more powerful in elegance and prestige, rugged and suitable on rough roads that we have in Nigeria, they consume a lot of fuel and are costlier to maintain.

“Driving compact cars, therefore, has several benefits, like being more fuel-efficient and taking up less room. They are also more comfortable to drive because of how small and manageable they are,” he said

The expert added that the modern compact cars, which are common in Europe, have more upright seating positions making them comfortable for anyone, irrespective of the size.

Edosa, therefore advised Nigerians to go for compact cars, instead of the big ones, to cushion the effects of fuel price hikes.

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Is Atom Capital the Future of Tech Businesses?

Published

4 days ago

December 17, 2024

John

Is Atom Capital the – Is Atom Capital the…

Is Atom Capital the – The rise of powerful…

The rise of powerful AI is reshaping the landscape of digital organizations, bringing unprecedented prospects for efficiency, innovation, and profitability. Businesses looking to prosper in this cutthroat market must grasp how to make the most of AI bots as more and more industries adopt these technologies.

Specifically, AI trading bots are a game-changing innovation in the finance industry that allows businesses to maximize profits and optimize trading methods. This essay looks at how companies might use AI trading bots, in particular, to take advantage of breakthrough AI technology to increase revenue and spur expansion.

The Role of AI Bots in Maximizing Advanced AI Usage

Artificial intelligence (AI) bots like the-atom-capital.com/id are specialized software programs created to automate processes, analyze data, and carry out trades or other operations with the least amount of human involvement. By utilizing cutting-edge AI, these bots can learn from enormous volumes of data, spot trends, and make deft decisions instantly. Businesses may greatly increase their productivity and decision-making processes by implementing AI bots.

Automating Repeated Operations

Artificial intelligence bots like Atom Capital automate tedious jobs, allowing human workers to concentrate on strategic projects. For example, AI chatbots in customer care answer standard questions, freeing up employees to deal with more complicated client requests. Businesses can distribute resources more efficiently as a result of this automation, which also improves customer happiness and operational efficiency.

Enhanced Data Analysis

AI bots like Atom Capital are particularly good at handling and evaluating big datasets. They can spot patterns and irregularities that human analysts would miss. By using these insights, companies may more rapidly and effectively respond to client requests and market changes by making data-driven decisions. Retail companies, for instance, can use AI bots to better manage inventory and study customer behavior, which will save costs and boost sales.

An Introduction to AI Trading Bots

As a direct result of advances in AI technology, the financial sector has seen the rise of AI trading bots. These bots autonomously manage portfolios, conduct trades, and analyze market data. AI trading bots like Atom Capital can optimize trading tactics based on past data and adjust to market volatility by utilizing machine learning algorithms.

Enhanced Rapidity and Effectiveness

AI trading bots are capable of operating at speeds much faster than humans. They can take advantage of momentary market opportunities by executing deals in milliseconds. Businesses may refine their trading tactics thanks to this speed, which helps them stay competitive in the quick-changing financial landscape.

Data-Based Decision Making

Complex algorithms that examine current market circumstances, past trends, and other pertinent data are used to create AI trading bots. Businesses can increase their chances of success by making well-informed trading decisions by utilizing this information. Reducing emotional biases that might impair judgment through the use of AI in trading also results in better logical investment methods.

Maximizing Profits with AI Trading Bots

Businesses need to implement particular tactics that increase their profitability if they want to fully utilize the potential of AI trading bots like Atom Capital. Here are some essential strategies to use these cutting-edge instruments to optimize profitability.

Improve Your Trading Methods

Based on the information produced by AI trading bots, businesses should constantly improve their trading tactics. They can enhance trading results by looking at historical performance and making adjustments to algorithms. Conducting routine backtests of methods using historical data can yield important insights regarding possible modifications.

Investment Portfolio Diversification

AI trading bots like Atom Capital can efficiently diversify investment portfolios for corporations by managing many assets at once. Businesses can lessen the impact of market volatility on their overall performance by diversifying their risk across a range of assets. This diversification approach raises the probability of yielding steady-state returns.

Put Risk Management Procedures into Practice

With AI trading bots, maximizing earnings requires effective risk management. To reduce possible losses, businesses should use stop-loss orders and clearly defined risk boundaries. Artificial intelligence (AI) bots can constantly analyze market circumstances and modify trading tactics to keep risks within reasonable bounds.

How to Register on an AI Trading Bot System?

With AI trading bots, getting started is a simple procedure. Here’s how to sign up for an AI trading bot platform step-by-step.

1. Select a Reputable Source

Investigate other AI trading bot systems first. To choose a reliable supplier, check customer reviews, performance data, and ratings. Popular platforms frequently contain features like intuitive user interfaces, solid safety features, and advanced analytical capabilities.

2. Register for an Account

After deciding on a platform, go to its website and register for an account. Giving basic personal information like your name, phone number, and email address is usually required for this. To safeguard your account, choose a strong password.

3. Confirm Your Identity

To abide by regulations, the majority of trading platforms demand identification verification. Get ready to upload proof of identity documents, like a driver’s license or passport, and maybe a utility bill to confirm your address.

4. Add Money to Your Account

You will need to deposit into your trading account after verification. The majority of platforms include a range of payment methods, such as credit cards and bank transfers. To fund your account, make sure you are aware of the minimum deposit requirements.

5. Configure Your Bot for Trading

Once the account is funded, go to the trading bot part of the platform. The majority of platforms offer simple-to-follow setup instructions for your bot. Depending on your investing objectives and risk tolerance, you can select from pre-built methods or create your own.

6. Examine and Modify

You should always keep an eye on your AI trading bot’s performance after it has been launched. Examine trading performance and tweak your tactics as necessary to maximize your gains. You can easily monitor your bot’s performance thanks to the real-time reporting and analytics options that many platforms offer.

Real Benefits of Advanced AI for Bigger Revenues

Advanced AI has several advantages for tech companies beyond trading. Businesses that incorporate AI into their operations stand to gain significantly from increased income in several ways.

Improved Client Relationship

AI-powered technologies can analyze client data and offer individualized services. AI can be used by businesses to enhance customer service, optimize marketing efforts, and make product recommendations. Through customized experiences, businesses may boost consumer happiness and encourage recurring business.

Enhanced Efficiency in Operations

AI automation lowers operating expenses by optimizing workflows and reducing mistakes. Companies can improve resource allocation, cut down on production downtime, and optimize supply chain management. Higher profit margins and cost reductions are the results of this efficiency.

Analytics for Predictive

New Product Development and Innovation

Conclusion

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Nigerians be warned as NAFDAC declares popular market hub of fake drinks

Published

4 days ago

December 17, 2024

John

Nigerians be warned as – Nigerians be warned as…

Nigerians be warned as – The National Agency for…

The National Agency for Food and Drug Administration and Control (NAFDAC) has declared Eziukwu Market, popularly known as Cemetery Market in Aba, Abia State, a hub for the production and distribution of fake and substandard drinks and beverages.

During a raid on Tuesday, December 17, Mr Martins Iluyomade, Director of NAFDAC’s South-East Zone, described the illegal activities in the market as “weapons of mass destruction.”

He lamented the persistence of these operations despite a major crackdown in December 2023.

“It is baffling that individuals remain recalcitrant and determined to make money at the expense of the lives of their fellow citizens,” Iluyomade stated.

He added that market leaders, who previously signed an undertaking with NAFDAC to identify and expose perpetrators, “now have serious questions to answer.”

The raid uncovered a shocking variety of fake and adulterated products, including wines, whiskey, yogurt, carbonated drinks, dry gin, chips, and other beverages. These items were either produced in unsanitary conditions or re-labelled with new dates after expiration.

Iluyomade expressed deep concern over the volume of expired products being re-validated and warned consumers to be vigilant about the items they purchase.

“Consumers must remain cautious to avoid endangering their health,” he advised.

The agency affirmed its commitment to revisiting agreements with the market’s leadership to curb the illegal trade and protect public health.

This operation highlights NAFDAC’s ongoing fight against counterfeit products and serves as a warning to those engaging in such activities.

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Nigeria becomes first African nation to resume diplomatic presence in North Korea

Published

5 days ago

December 17, 2024

John

Nigeria becomes first African – Nigeria becomes first African…

Nigeria becomes first African – Nigeria is set to…

Nigeria is set to reopen its embassy in North Korea, four years after its closure during the COVID-19 outbreak, becoming the first African nation to resume diplomatic activities in the reclusive country.

The announcement was made by Nigeria’s Charge d’Affaires to North Korea, Patrick Imologhome, during a meeting with Russian Ambassador to North Korea, Alexandr Matsegora, last Wednesday in Pyongyang. The Russian Embassy in Pyongyang confirmed the development on its official Facebook account.

“Patrick Imologhome, who recently arrived in North Korea, shared his plans to reopen the Nigerian Embassy in Pyongyang after years of suspended operations,” the Russian Embassy’s statement read.

Nigeria’s embassy was shut down during the early stages of the pandemic in 2019, along with many other diplomatic missions worldwide. However, with North Korea reopening its borders in August 2023, Nigeria is now the first African country to reestablish its diplomatic footing in the country.

The Russian Embassy further noted that Nigeria and Egypt remain the only African nations maintaining a diplomatic presence in North Korea. Both countries have enjoyed diplomatic relations with Pyongyang since 1976.

Notably, a previous UN panel of experts highlighted that Nigeria and Egypt have conducted trade and business dealings with North Korea, allegedly in violation of UN sanctions.

The reopening of Nigeria’s embassy signals a renewed commitment to strengthening ties with North Korea amid evolving post-pandemic diplomacy. It also marks a significant move for African diplomatic relations in the region, particularly as other nations are yet to resume their operations in the East Asian country.

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