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By Bliss Okperan, Adedapo Adesanya  The cost of cooking a pot of jollof rice, one of the most consumed foods daily in Nigeria, has surged by 37.4 per cent, according to research carried out by Business Post. Using market data and the most recent food price watch by the National Bureau of Statistics (NBS), major food items in making the delicacy, including rice, groundnut oil, tomatoes, and onions, among others have recorded a massive increase within the past year, making it hard for the average Nigerian to survive. According to NBS, 1 kilogram of Rice cost N757.06 in 2023 as

By Adedapo Adesanya  Oil prices fell on Friday as the release of some hostages in Gaza reduced the geopolitical risk premium and indicated that the Israel-Hamas tensions may not have much effect on the oil market. Brent crude futures depreciated by 84 cents or 1 per cent at $80.58 a barrel, while the US West Texas Intermediate (WTI) crude dropped $1.56 or 2 per cent to close at $75.54. There was no settlement for WTI on Thursday owing to the US Thanksgiving holiday. Prices notched their first week of gains in over a month ahead of next week’s meeting of

By Modupe Gbadeyanka The Nigerian National Petroleum Company (NNPC) Limited is planning to grow its revenue to N4.5 trillion as it plans to end the importation of premium motor spirit (PMS), otherwise known as petrol, by December 2024. The chief executive of the company, Mr Mele Kyari, while speaking on Thursday, said the nation would not need to rely on fuel from outside the country because its refineries would have been fully operational. Nigeria is currently revamping its four refineries to make the product available to residents of the country as it officially stopped the payment of subsidy on petrol

By Adedapo Adesanya In line with efforts to improve innovation and drive technological advancement in the country, the Nigerian Communications Commission (NCC) has promised to provide endowment funds to more universities in the country. The commission, according to TheCable, said there were further plans to expand the list of institutions who will benefit from the funds that will be released. In the report, it was noted that the agency in 2019, handed N40 million research fund to Bayero University, Kano (BUK) and the Federal University of Technology, Owerri (FUTO) with each receiving N20 million. The NCC charged students of both

By Adedapo Adesanya Nigeria’s Ms Amina Mohammed has been reappointed as the Deputy Secretary-General of the United Nations Sustainable Development Group. In delegating development coordination to the Deputy Secretary-General, the Secretary-General of the UN, Mr Antonio Guiterres set in motion the most ambitious reform in the history of the UN development system. Ms Mohammed’s leadership helped advance the conceptual shift from the UN that the Member States called for in adopting the Sustainable Development Goals (SDGs). Over the last five years, the UN Sustainable Development Group was strengthened to enhance global leadership and oversight for the development and the UN

By Modupe Gbadeyanka Investments worth $8.3 billion were attracted by the Lagos State Government in the last two years, the Special Adviser to the Governor on Sustainable Development Goals and Investment, Mrs Solape Hammond, has revealed. The aide to Governor Babajide Sanwo-Olu explained that these investments were made possible through the economic policy of the state government designed to improve the business climate of Lagos and promote socio-economic prosperity. Addressing journalists at the Y2021 ministerial press briefing, she disclosed that the administration of Mr Sanwo-Olu will continue to bring in, retain and leverage inclusive and sustainable economic growth. Mrs Hammond

By Dipo Olowookere The Nigerian Stock Exchange (NSE) continued its upward trajectory on Thursday as investors continue to take position ahead of anticipated selloffs next week. Next Saturday, Nigerians will head to the polls to choose someone who will lead them for another four years. The February 16 presidential election is already raising tension in the land especially with the death threat by Governor Nasir El-Rufai of Kaduna State that any foreign element that messes up would have their bodies taken back in body bags. At the market yesterday, investors aggressively mopped up some stocks that could fetch huge returns

By Modupe Gbadeyanka The Federal University of Agriculture in Makurdi, Benue State, has been sealed off by the Benue State Internal Revenue Service (BIRS). The higher institution of learning was shut by the Benue State tax office over non-remittance of Personal Income Tax running into N2.3 billion. The action, we gathered, followed reported failure of the school to respond to several letters written to it by the tax office to pay up the outstanding Personal Income Tax from 2007 to 2011. Chairman of BIRS, Mrs Mimi Adzape-Orubibi, who led the enforcement team to seal off the university, noted that her

By Dipo Olowookere “The world is far better prepared for another Ebola outbreak,” said Dr Margaret Chan, Director-General of the World Health Organization, today at a celebratory event to recognize the Governments and people of the three most-affected countries for their contribution to the control of the Ebola outbreak in 2014-15. Dr Chan joined the President of the Republic of Guinea, HE Professor Alpha Conde, His Excellency Minister of Health, Dr Abdourahmane Diallo, and representatives from the Governments of Liberia and Sierra Leone, in celebrating the successful development of the world’s first vaccine against Ebola. Dr Matshidiso Moeti, Regional Director

By Adedapo Adesanya and Sodeinde Temidayo David Nigerian startup that caters to home service needs, Eden Life, has completed a $1.4 million seed round to expand its business offerings. This brings Eden Life’s total investment to date to $2 million following pre-seed backing from all of Andela’s original co-founders, and additional accelerator support over the last 18 months. The new capital obtained by the company will be deployed to build Eden Life’s in-house technology and develop its own world-class kitchens and operations hubs, as it builds a new tech-based platform to improve and grow Africa’s service industry. Launched in 2019,