FG Wants Prices of Land in Nigeria Regulated

By Bliss Okperan A helicopter operated by the Nigerian Air Force (NAF) on Friday crash-landed and exploded at the NAF Base, Port Harcourt, Rivers State. The NAF Director of Public Relations and Information, Air Commodore Edward Gabkwet, confirmed the incident in a statement, noting that the NAF-35p had taken off on an operation against oil thieves in Rivers State before the unfortunate incident. He said five persons on board survived the air mishap with minor injuries. “A Nigerian Air Force (NAF) MI-35P helicopter crashed at Port Harcourt today, December 1, 2023. The unfortunate incident occurred at about 7.45 am shortly

By Adedapo Adesanya Global energy company, GE Vernova, has used a series of events during Compliance Week to emphasise the critical role of ethics and compliance in business growth and success. The week-long initiative, held across Nigeria with more than 100 attendees, involved employees, suppliers, legal experts, and customers, highlighting GE Vernova’s unwavering commitment to fostering a culture of integrity and transparency. Speaking on this, Mrs Ozim Ifeoma Ibeziako, Executive General Counsel for GE Vernova’s Gas Power business in Africa, said, “At GE Vernova, we believe that integrity is the cornerstone of any successful business. “Our Compliance Week is an

By Bliss Okperan The Nasarawa State House of Assembly has announced its election of Danladi Jatau, representing Kokona West Constituency, as the new Speaker. The state parliament also disclosed on Friday that it now has a new Deputy Speaker, who is Mohammed Oyanki, the lawmaker representing Doma North Constituency. The election of the two principal officers of the legislative arm of the state followed the sacking of its former Speaker, Mr Ibrahim Abdullahi, by the Appeal Court sitting in Abuja on Tuesday. While the new Speaker is a member of the All Progressives Congress (APC), his deputy is a member

By Adedapo Adesanya The President of the African Export-Import Bank (Afreximbank), Professor Benedict Oramah, has been recognised with the Forbes Africa magazine 2023 Person of The Year award. At a well-attended award ceremony in Cairo, which also included the unveiling of the cover for Forbes Africa’s December 2023/January 2024 edition featuring Mr Oramah as cover personality, Mr Rakesh Wahi, Forbes Africa Founder and Publisher, and Ms Roberta Naicker, Managing Director, said that the award recognised the stellar accomplishments of leading Africans contributing to the development of the continent. “With a career spanning three decades at Afreximbank, Prof. Benedict Oramah is

By Adedapo Adesanya The new Minister of Power, Mr Abubakar Aliyu, who assumed duty on Monday, has said a critical duty of his management is to ensure that “a steady power supply is delivered to Nigerians.” He made this disclosure in Abuja where he urged stakeholders in the power sector to work together as a team in order to ensure Nigerians enjoy uninterrupted electricity. On September 1, 2021, President Muhammadu Buhari sacked the former Minister of Power, Mr Sale Mamman as well as the Minister of Agriculture and Rural Development, Mr Sabo Nanono due to poor performance. While taking over

By Adedapo Adesanya Oil fell to the lowest level in a week as the U.S.-China trade war escalated against the backdrop of swelling American crude inventories. On Thursday, the Brent Crude still traded below the $60 as the futures depreciated by $1.21 or 2.03 percent to sell for $58.27 per barrel, while the West Texas Intermediate (WTI) crude saw a decline of 63 Cent, equivalent to 1.14 percent to trade at $54.60. In the latest episode of the dispute between the world’s biggest economies, the Chinese government said it “has no choice but to take necessary measures to retaliate” against

By Modupe Gbadeyanka An end-to-end solution to guarantee the consistent low latency and high reliability demanded by time-critical applications and services for consumers, enterprises, and the public sector has been launched by Ericsson. This initiative will boost the company’s 5G capabilities as it would enable Time-Critical Communication through its new Critical IoT product, which is easily deployable as a software upgrade on public and private 5G networks, in wide and local areas, on any 5G frequency band. Having deployed 5G networks globally with successful rollouts of enhanced mobile broadband and Fixed Wireless Access services, the new solution will allow communications

By Investors Hub Asian stocks fell broadly on Wednesday as initial optimism over the Trump-Kim summit faded and investors shifted their focus to upcoming central bank meetings in the U.S., Europe and Japan. The U.S. Federal Reserve is widely expected to raise interest rates by 25 basis points when it ends its two-day policy meeting later today. On Thursday, the European Central Bank may outline plans for ending its bond purchasing program. The Bank of Japan’s policy decision is due on Friday, with no change to policy expected. Chinese markets fell, dragged down by telecom shares as ZTE Corp. resumed

By Modupe Gbadeyanka Negative sentiments persisted on Tuesday on the trading floor of the Nigerian Stock Exchange (NSE) as the bearish run was extended with 0.42 percent loss posted at the close of transactions. The All-Share Index (ASI) shed 151.38 points to close at 36,165.93 points, while the market capitalisation depreciated by N42.1 billion to settle at N12.46 trillion. Furthermore, the year-to-date return trimmed to 34.57 percent, while the market breadth ended negative with 14 gainers and 16 losers. Business Post reports that the gainers’ chart was led by Stanbic IBTC, which released its half-year earnings today, adding 50k to

By Modupe Gbadeyanka The European Union has extended the sanctions against Libya targeting three persons for six months. This was done on Friday, March 31, 2017. The council explained that it remains committed to an inclusive political settlement under the framework of the Libyan Political Agreement supported by the United Nations Newly prolonged imposed restrictive measures against Libya on three persons are Agila Saleh, President of the Libyan Council of Deputies in the House of Representatives; Khalifa Ghweil, Prime Minister and Defence Minister of the internationally unrecognised General National Congress; and Nuri Abu Sahmain, President of the internationally unrecognised General

By Adedapo Adesanya FrieslandCampina WAMCO Nigeria Plc and Niger Delta Exploration and Production (NDEP) Plc cruised the NASD Over-the-Counter (OTC) Securities Exchange to the green zone by 1.16 per cent on Tuesday, July 27. The performance of the stocks increased the market capitalisation of the NASD bourse by N11.7 billion to N1.021 trillion from the N1.010 trillion it quoted in the previous session. This movement also raised the NASD Unlisted Securities Index (NSI) by 8.88 basis points during the session to 775.80 points from the preceding session’s 766.92 points. FrieslandCampina Plc appreciated yesterday by N5.86 to sell at N100.00 per

By Adedapo Adesanya The United Nation’s top humanitarian official in Nigeria, Mr Matthias Schmale, has disclosed that out of the $1.3 billion in humanitarian funding needed in the BAY states (Borno, Adamawa, Yobe), only 25 per cent has been secured so far. The UN official said that severe hunger affects 4.3 million people in Borno, Adamawa and Yobe States, adding that the number of children under five at risk of life-threatening severe acute malnutrition has doubled in one year to reach 700,000. Describing the situation in the region, Mr Schmale said: “I have been to Borno and the other two