Japanese Shares Rise as Chinese Stocks Rebound

By Adedapo Adesanya The House of Representatives has pledged to stop international oil companies (IOCs) operating in the Niger Delta from divestment of their offshore assets without being accountable to the environment. The Chairman of the House of Reps Committee on Host Communities, Mr Dumnamene Dekor, said this during a technical session on the implementation of the Host Communities Development Trusts (HCDT), organised by Spaces for Change (S4C) with support from Ford Foundation. Mr Dekor raised the alarm that since the passage of the Petroleum Industry Act in 2021, host communities have not experienced any positive change, rather have remained

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange fell into the danger zone on Tuesday, November 28, as it recorded a 1.14 per cent loss after the price of three securities on the platform closed lower. This chopped off N13.33 billion from the NASD OTC securities exchange at the close of transactions, going down to N1.158 trillion from the N1.171 trillion it ended in the previous session. Business Post reports that the effort of a price gainer yesterday could not save the NASD Unlisted Security Index (NSI) from declining by 9.84 points to 854.67 points from the 864.51 points

By Adedapo Adesanya  President Bola Tinubu has written to the House of Representatives seeking the approval for an $8.6 billion and €100 million external borrowing plan for critical infrastructure in areas such as power, roads, water, railway, and health. The President also forwarded the Federal Capital Territory (FCT) Supplementary Budget to the lower chamber for consideration. Meanwhile, the President will present the 2024 budget to the National Assembly on Wednesday. This was after the Federal Executive Council (FEC) approved a 2024 budget of N27.5 trillion. The approval followed the review of the Medium-Term Expenditure Framework (MTEF) earlier passed by the

By Dipo Olowookere The United States Chamber of Commerce’s US-Africa Business Center on Tuesday hosted Nigeria’s Minister of Industry, Trade and Investment, Dr Okechukwu Enelamah, for a roundtable discussion with US business executives at their office in Washington, D.C. The conversation focused on enhancing trade and investment relationship between both countries. This comes in the context of a telephone call between President Muhammadu Buhari and President Donald Trump Monday, where both Presidents discussed security and economic issues. It is seen as suggesting the U.S. consideration of Nigeria as a strategic partner. “The US has historically been one of Nigeria’s top

By Modupe Gbadeyanka The sum of N994.8 million was generated in the month of October 2016 by the Seme Area Command of the Nigeria Customs Service (NCS). During the period, the command also made 68 various seizures with a Duty Paid Value of N35 million. Public Relations officer of the command, Mr Taupyen Salechang, said in a statement on Wednesday that the revenue generated for the month of October exceeded the amount generated in the corresponding year with over N60.8 million. In the statement, Mr Salechang quoted Controller of the command, Mr Victor Dimka to have attributed this to the

By Dipo Olowookere Federal Government has commenced the African Soil Information Service (AFSIS) pilot project in order to address the lack of quality information and data on soil and agricultural landscape which would help boost sustainable agricultural productivity across the Nigerian agro-ecologies. The project which is being funded by Bill and Melinda Gates Foundation builds technology innovations and services to fill one of the major gaps in spatial Information in African soil that is widely acknowledged to be hampering scientific progress in agri-economic development. It is for this reason that Bill and Melinda Gate Foundation and Alliance for Green Revolution

By Adedapo Adesanya The Nigeria Centre for Disease Control (NCDC) has issued a public health advisory amid the recent increase in COVID-19 cases in the country and globally as the nation is set to celebrate the Eid-el-Kabir holidays. Business Post had on Thursday reported that the federal government declared public holidays for Monday, July 11 and Tuesday, July 12 to mark Sallah tomorrow. The Nigerian infectious diseases authority on Friday issued the warning as the number of weekly COVID-19 cases has increased globally for the third consecutive week – according to the World Health Organisation (WHO). “This is based on

By Dipo Olowookere A group named Goodtalk Nigeria has given thumbs up to the Muhammadu Buhari administration for its strides in the fight against insurgency, the anti-corruption war, and restoring peace and amity in the Niger Delta region. Leading members of the group, including Adeniyi Olabode and Patience Odey, Mr Otto Ikpe, National Coordinator/Convener of Goodtalk Nigeria, said the country was blessed to have a President “who walks his talk.” “He promised to fight insurgency, he has done it, he pledged to fight corruption, he is doing it, and peace is also being restored to the Niger Delta. All these

By Adedapo Adesanya The Nigerian Stock Exchange (NSE) is set to hold its annual 2019 Market Recap and 2020 Outlook on Monday, January 13, 2020. The event is to review and project plans for the Nigerian capital market. The event, scheduled to take place at the Stock Exchange House, Marina, Lagos, will see the Chief Executive Officer (CEO) of NSE, Mr Oscar Onyema, alongside members of the Executive Committee, present the exchange’s performance and outlook, with a balanced prognosis for the new year. Into the new year, the NSE is set to continue its contribution to the country’s economic recovery

By Brown Justice Despite surface claims by the opposition Peoples Democratic Party (PDP) that all is well with the party ahead of next year’s general elections, investigation by this reporter shows that all is not well with the party as it is currently embroiled in several internal crisis among which is it’s poor management of the post-primary elections crisis. It will be recalled that the party conducted it’s primaries between September and October this year, but the outcome of such exercises are still lingering which if not properly addressed may cost it next year’s general elections. According to close sources

Lagos State has collaborated with Japan on the construction of an urban rail line that would cost about $1billion. This was disclosed by the Commissioner for Transportation in the state, Dr Dayo Mobereola, during a seminar organised by the Lagos Metropolitan Area Transport Authority (LAMATA) in conjunction with the Japan International Cooperation Agency. The Commissioner said much of the project would be funded by the private sector, while the state would pay compensation where existing structures were affected. Mobereola pointed out that the Gross Domestic Product (GDP) in Lagos comes mainly from the Marina-Victoria Island-Ikoyi axis and that the area