Ogun Unveils 13-Year Economic Development Plan

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 Adedapo Adesanya The Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso, has admitted that the country recorded a revenue drop of $1.4 billion between 2015 and 2019 after imposing foreign exchange (FX) restrictions for import of 43 items over eight years. The apex bank governor made this known on Friday while delivering his keynote address at the 58th Annual Dinner of the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos. The apex bank head, during the preparation of his monetary policy thrust, cited available data saying, “Studies have shown that during the period when the

By Dipo Olowookere Shares of MeCure Industries appreciated by 60.73 per cent last week on the floor of the Nigerian Exchange (NGX) Limited as investors began to see value in the company. Business Post reports that in the week, the price of the stock closed at N9.21 per unit compared with the preceding week’s N5.73 per unit, leading the gainers’ chart of 59 members, higher than 54 of the preceding week. On its part, Multiverse rose by 60.06 per cent to N5.81, Unity Bank improved by 57.26 per cent to N1.84, Secure Electronic Technology jumped by 52.78 per cent to

By Adedapo Adesanya  The federal government, through the Nigerian Ports Authority (NPA), has announced plans to invest $1.1 billion to fully rehabilitate decaying port infrastructure at TinCan, Apapa, Rivers, Delta, Calabar, and Onne ports as part of efforts to improve the efficiency of the nation’s existing ports. Out of the estimated 47,000 kilometres of coastline in Africa, Nigeria makes up about 853 kilometres, creating the perfect opportunity to get access to its much-needed revenue. This coastline and a 200 nautical mile exclusive economic zone make up Nigeria’s coastline in the Gulf of Guinea. The coastline equals a maritime area of

By Modupe Gbadeyanka Chairperson of the African Union Commission, Dr Nkosazana Dlamini-Zuma, has approved the deployment of 40 short-term observers to the Presidential and Parliamentary elections in Ghana scheduled for December 7, 2016. The short-term observers will complement the work of 4 core team of election analysts and 10 long-term observers who have been deployed in the country since late October 2016, and have been following and reporting on the pre-election preparations and overall political environment. The deployment of the AU Mission to the Ghana is in line with paragraph VI (d) of OAU/AU Declaration on the Principles Governing Democratic

By Adedapo Adesanya The first day of the new month of August didn’t bring good tidings for the Naira at the Investors and Exporters (I&E) segment of the foreign exchange (forex) market in Nigeria. This was because the local currency depreciated by 71 Kobo against the Dollar yesterday, trading at N362.23/$ in contrast to the N361.68/$ it was exchanged on Wednesday at the market window. This bearish trend extended to the daily market turnover on Thursday, dropping to its lowest level since January 2019. At the close of transactions yesterday, the turnover recorded was $64 million. Looking at the interbank

By Investors Hub Most Asian stocks rose on Wednesday as higher commodity prices and better-than-expected data from Japan and Australia boosted investor optimism about global growth. Traders also breathed a sigh of relief after Catalan leader Carles Puigdemont refrained from making a formal declaration of the region’s independence on Tuesday. China’s Shanghai Composite Index rose 6.06 points or 0.2 percent to 3,389,05, although Hong Kong’s Hang Seng Index fell 101.26 points or 0.4 percent to 28,389.57. China is on track to meet its growth target of around 6.5 percent this year and could well exceed it, the head of the

By Modupe Gbadeyanka The appointment of Mr Nnochirionye Afunanya as the new Public Relations Officer of the Department of State Services (DSS) has been announced by the agency. In a statement issued on Thursday by the Public Relations Department of the DSS’ national headquarters in Abuja, it was disclosed that Mr Afunanya is replacing its former spokesman, Mr Tony Opuiyo. The new spokesman is a member of the Nigerian Institute of Chartered Arbitrators (NiCarb); Nigerian Red Cross (NRC); Nigerian Institute of Management (NIM); Nigerian Institute for Industrial Security (NIIS); Society for Peace Scholars and Practice (SPSP); American Society for Industrial

By Dipo Olowookere A showbiz promoter, Mr Balogun Olamilekan Eletu, otherwise known as Sam Larry, is now in the custody of the Nigeria Police Force (NPF). The spokesman for the Lagos Command of the police, Mr Benjamin Hundeyin, confirmed this development in the wee hours of Friday. Sam Larry has been linked with the death of a fast-rising musician, Ilerioluwa Oladimeji Aloba, professionally known as Mohbad. The singer died in a controversial manner on September 12, 2023, and was also suspiciously buried in the Ikorodu area of Lagos. His death has generated global interest, with some people using his case

If you’re running a cosmetic business, you can manufacture these boxes to impress your customers and to extend your sales. These boxes are created with the client’s favoured packaging material and also the involved whole brand is imprinted on them. Dreamy, supernatural eyes with a flutter of luscious eyelashes are solely found within the novels. In reality, not everyone’s endowed with the long, thick lash line. Similar to makeup is employed to reinforce your options; false eyelashes are accustomed to creating your eyes look sound. There are such a big amount of brands and kinds of eyelashes obtainable within the market, it may be confusing finding the proper one for you. Material, shape, thickness, and length are vital factors

One of the leading internet service providers in Nigeria, Spectranet, has reintroduced its N7,000 data package. Few months ago, the company hiked its N7000 data plan to N10,000 after it introduced the unified tariff plan, which affords all Spectranet subscribers across the country to enjoy the same tariff as against the former practise. But apparently miffed that consumers were not happy with the development, Spectranet has decided to reintroduce it, but with lesser data allocation. With the new data plan, customers are entitled to 15GB data and monthly roll over. According to the marketing team, the new data plan is

By Adedapo Adesanya The Federation of International Football Association (FIFA) has issued a complaint of criminal mismanagement against its former president, Mr Sepp Blatter. The world football’s governing body said on Tuesday it suspected criminal mismanagement over the finances of its loss-making football museum in Zurich, Switzerland. The complaint has been sent to the Zurich prosecutor and it relates to the involvement of Mr Blatter and other former officials at the world governing body in the FIFA museum project. According to a statement from FIFA, “Following a detailed review of historic facts and circumstances concerning the construction and on-going operational