FG Declares 3-Day Holiday for Christmas, New Year

By Bliss Okperan President Bola Tinubu has joined other persons and organisations to rejoice with Muslims all over the globe, particularly in Nigeria, over the birthday celebration of Prophet Mohammed. The federal government declared Wednesday, September 27, 2023, a public holiday for Eid-El-Maulud, and the President, as well as his opponent in the 2023 presidential election, Mr Peter Obi of the Labour Party (LP), has joined to celebrate the day. In a statement from the State House in Abuja, Mr Tinubu urged Muslims to use the day “for deep introspection and fervent prayers,” stressing they should “make deliberate efforts to

By Adedapo Adesanya President Bola Tinubu has promised fresh growth and job reforms in the coming months after he removed fuel subsidies and directed the float of the Naira to unify the exchange rate. The Nigerian president made this known during his first address at the 78th United Nations General Assembly in New York, the US, after he took over the helm of office from Mr Muhammadu Buhari in May. He said, “To foster economic growth and investor confidence in Nigeria, I removed the costly and corrupt fuel subsidy while also discarding a noxious exchange rate system in my first

By Aduragbemi Omiyale The Vice President, Mr Kashim Shettima, has charged the National Assembly to continue to cooperate with the executive arm of government, noting that governance is a collective responsibility and not a personal endeavour. He said this at the retreat for the leadership of the 10th National Assembly last Friday at the Four Points by Sheraton, Ikot Ekpene, Akwa Ibom State. Mr Shettima said the administration of President Ahmed Tinubu was committed to safeguarding Nigeria’s democracy and maintaining the fraternal bond between the two arms of government. He described the composition of the federal government as well as

By Adedapo Adesanya The Nigeria Labour Congress (NLC) is set to embark on its planned strike as it said it does not have any agreement with the federal government to shelve the action. This came from its Head of Information and Public Affairs, Mr Benson Upah, who countered a statement by the Ministry of Labour and Employment. Mr Upah also said the NLC did not have any date for a meeting with the government that may lead to the suspension of the proposed strike. “We do not have any agreement with the government to suspend the planned strike action. Neither

By Adedapo Adesanya Oil settled up about $1 a barrel on Friday as China’s economic prospects brightened, boosting expectations for fuel demand in the world’s second-biggest economy. Brent crude settled at $87.63 a barrel after it grew by $1.47 or 1.7 per cent, while the United States crude settled at $81.31 a barrel, as it gained 98 cents or 1.2 per cent. The benchmarks notched a second straight weekly gain as a result. For the week, Brent logged a 2.8 per cent increase, and the US benchmark saw a 1.8 per cent rise. China, which has become the latest mover

By Dipo Olowookere Friday’s trading activities on the floor of the Nigerian Stock Exchange (NSE) closed bearish as it had been almost throughout the week, Business Post is reporting. It was observed that the positive 2017 earnings of GTBank, Zenith Bank, Stanbic IBTC and others were not enough to positively affect the market as negative sentiments persisted in the week. At the close of business on Friday, the market finished 0.59 percent lower with the Year-to-Date (YtD) shrinking to 9.66 percent. In addition, the All-Share Index (ASI) went down by 249.45 points to settle at 41,935.93 points, while the market

By Modupe Gbadeyanka The Economic and Financial Crimes Commission (EFCC) has been urged to probe the immediate past Minister of Aviation, Mr Hadi Sirika, over the controversial Nigeria Air, which it said it gulped N15.9 billion. Last Friday, as promised by Mr Sirika, a Nigeria Air-branded aircraft landed at the Nnamdi Azikwe International Airport, Abuja, but hours later, it returned to Ethiopia after it was discovered that the aeroplane had a registration number of Ethiopia Airlines. There have been controversies surrounding the proposed national carrier for more than six years but the Minister promised that it would become a reality

By Dipo Olowookere The Nigerian Exchange (NGX) Limited is making efforts to talk to policymakers in the country, including the federal government, about policies that will encourage companies to list their shares on the local exchange. According to the chief executive of the bourse, Mr Temi Popoola, having more organisations on the exchange will deepen the market and consequently boost the economy. While speaking at the NGX CEO Roundtable held on Thursday, Mr Popoola said corporates will agree to join the market if the environment is favourable to their business operations. “As part of efforts to improve the listing experience

By Aduragbemi Omiyale Last week, there were huge interests in the shares of Wema Bank, Zenith Bank and FBN Holdings on the floor of the Nigerian Stock Exchange (NSE). For Zenith Bank, it was as a result of the N2.70 dividend its board recommended for the 2020 financial year and investors wanted a share of the goodie. At the close of the week, the three companies traded 782.2 million units worth N8.9 billion executed in 4,624 deals, contributing 40.52 per cent and 43.15 per cent to the total equity turnover volume and value respectively. According to data from the exchange,

By Dipo Olowookere The remains of chieftain of National Union of Road Transport Workers (NURTW) in Shogunle area of Oshodi, Lagos State, Mr Rasaz Bello otherwise known as Hamburger, would be laid to rest on Friday, June 2, 2017 (today). Mr Bello was murdered on Monday, May 29, 2017, during the local council primaries of the All Progressives Congress (APC) in Lagos State ahead of the council polls next month. He was killed by a rival group allegedly led by one Samson Agbetoye, popularly known as Golden, believed to be loyal to Treasurer of the union in Lagos, Mr Musiliu

By Dipo Olowookere Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Mr Maikanti Baru, has disclosed that the agency was making efforts to reduce the amount of petrol inported into the country in 2017. Mr Baru noted that in achieving this, NNPC has commenced moves to reduce products importation by boosting the capacity utilization of the refineries to 60 percent by the end of 2017. Speaking during a courtesy call on him by the Board and Management of Media Trust Limited, publishers of Daily Trust Newspapers, led by its Chairman, Mallam Kabiru Yusuf, Mr Baru explained that NNPC was

By Adedapo Adesanya Vice President Yemi Osinbajo has assured that the demon, multiple taxation, would be tackled by the Presidential Enabling Business Environment Council (PEBEC) so as to allow the business environment in Nigeria to thrive. Mr Osinbajo gave this assurance on Monday in Abuja at the First Abuja Small and Medium Enterprises (SMEs) Conference and Exhibition 2021 organised by the Abuja Chamber of Commerce and Industry (ACCI). The event was aimed at providing solution strategies for resolving tax, regulatory, packaging and logistic challenges facing Nigerian SMEs, causing the sector to have a high mortality rate. Mr Osinbajo, represented by