Fire Destroys N3trn Properties in Q2 2021

By Adedapo Adesanya President Bola Tinubu on Monday asked South African companies to consider investing in the Nigerian solid minerals development sector, promising them a conducive environment. Mr Tinubu made this call when he held talks with his South African counterpart, Mr Cyril Ramaphosa, in New York City ahead of the United Nations General Assembly (UNGA). According to a statement by the Special Adviser to the President on Media and Publicity, Mr Ajuri Ngelale, the Nigerian leader advanced his economic development diplomatic drive for investment attraction during the engagement. He told Mr Ramaphosa that, “South African mining industries have a

By Modupe Gbadeyanka A socio-political group known as Save Enugu Group has congratulated Governor Peter Mbah of Enugu State on his recent Supreme Court victory. The organisation described the victory as well-deserved, urging politicians in the state to join forces with the governor to move the state forward. Last Friday, the country’s apex court dismissed an appeal filed by the candidate of the All Progressives Congress (APC) in the governorship election in the state, Mr Uche Nnaji. The opposition party challenged the victory of Mr Mbah of the Peoples Democratic Party (PDP) in the March 18, 2023, gubernatorial poll, asking

By Adedapo Adesanya The two leading opposition presidential candidates in the 2023 general elections, Mr Atiku Abubakar of the Peoples Democratic Party (PDP) and Mr Peter Obi of the Labour Party, on Tuesday, approached the Supreme Court to upturn the judgment of the Presidential Election Petition Court (PEPC), which on September 6, affirmed Mr Bola Tinubu of the All Progressives Congress (APC) as winner of the exercise held on Saturday, February 25. Mr Atiku, in his Notice of Appeal predicated on 35 grounds, insisted that the tribunal, in the judgment delivered by Justice Haruna Tsammani, committed grave error and miscarriage

By Ahmed Rahma In order to improve the welfare of the workers, the Ekiti State Government has disbursed N100 million car loan to 278 civil servants. This is coming barely two days after the state government gave over N60 million as a housing loan to some teachers and other workers in the state. The Commissioner for Finance and Economic Development, Mr Akintunde Oyebode, disclosed that the beneficiaries received from N800,000 to N1.5 million for the car loan, depending on their grade level. Mr Oyebode listed the number of loan recipients to include 41 workers between grade levels 02 and 06;

By Lukmon Akintola A businessman who wants a loan is almost ready to do anything. He would grovel if the loan officer asks him to, he would bark like a dog if he needs to. However, the moment the loan is granted, he becomes egoistic and wants to cross all the ‘T’s and dot the ‘I’s of the contract. This seems the story of the average Nigerian businessman who needs a loan for his business, but is just not ready to pay back, so he consciously or unconsciously schemes a way out. Like a lazy young man being fed by

By Adedapo Adesanya The federal government has announced that domestic flights will resume in the country from Wednesday, July 8, 2020. The Minister of Aviation, Mr Hadi Sirika, in a tweet on Wednesday said operations would resume at the Murtala Mohammed Airport in Lagos and Nnamdi Azikwe Airport in Abuja on July 8 with other airports slated for a few days after. However, he said international flight operations will recommence at a date to be announced later by the local authorities. The European Union had excluded passengers coming from Nigeria, the United States of America, Brazil and other countries from

By Dipo Olowookere With the presidential election concluded and Mr Bola Tinubu declared by the Independent National Electoral Commission (INEC) as the winner, FBNQuest believes that the president-elect will likely implement some reforms that will trigger economic growth and investment in the second half of the year. President Muhammadu Buhari is expected to hand over power to his successor on May 29, 2023, after serving for eight years in two terms of four years each. At the presidential poll held on Saturday, February 25, 2023, Mr Tinubu of the ruling All Progressives Congress (APC) won by over 8 million votes

By Adedapo Adesanya On Thursday, the National Bureau of Statistics (NBS), in a report titled Nigeria Labour Force Statistics Report Q4 2022 & Q1 2023, said Nigeria’s unemployment rate dropped to 4.1 per cent in the first quarter of 2023 from 5.3 per cent in the fourth of 2022. This may have come as a shock to many, but it was expected as the NBS on April 20, 2023, made adjustments to how the figures will be calculated moving forward. The NBS adopted global standards as its new method and this crashed the rate from a high of 33.3 per

By Modupe Gbadeyanka The performance of the Naira against the Dollar at the foreign exchange market was not too impressive on Monday. This was because the local currency recorded a marginal loss in value against the Dollar at the forex market. Business Post reports that the Naira depreciated marginally by 0.02 percent at the Interbank FX market to close at N306.25/$. At the Investors and Exporters (I&E) FX window, the local currency also slightly went down further yesterday by 0.09 percent to settle at N363.11/$. According to data from the FMDQ OTC Market, a total of $586.83 million was transacted

By Dipo Olowookere The Nigerian Exchange (NGX) Limited tucked in Customs Street, Lagos suffered a marginal 0.01 per cent loss on Monday after the bears refused to back down, maintaining their grip on the exchange. Sell-offs in energy stocks, especially Seplat, affected the market yesterday, resulting in the shrinking of the All-Share Index (ASI) by 6.00 points to 47,262.61 points from 47,268.61 points. Equally, the market capitalisation of the bourse went down during the session by N3 billion to settle at N25.472 trillion as against N25.475 trillion it closed last Friday. At the market yesterday, the banking index grew by

By Dipo Olowookere The Central Bank of Nigeria (CBN) has given Access Bank Plc the go-ahead to have Mr Hassan Usman on its board as an independent non-executive director. Mr Usman is a leader with a rich blend of academic, entrepreneurial and public sector experiences, which Chairman of Access Bank, Mrs Ajoritsedere Awosika, said are the major ingredients needed on the board at this moment. “We are very delighted to be joined by Mr Hassan Usman, a leader with a rich blend of academic, entrepreneurial and public sector experiences which are all relevant to the needs of our board. “As