Nigeria-Morocco Gas Pipeline Project Will Create Wealth—Kyari

By Bliss Okperan The early morning fire that gutted a part of the Supreme Court complex in Abuja has been blamed on an electrical malfunction. The Director of Information of the apex court, Mr Festus Akande, said this on Monday morning when he appeared on Arise Television’s breakfast programme, The Morning Show. According to him, preliminary investigation showed that the fire was triggered by an electrical fault, playing down rumours that the Supreme Court was attacked by arsonists. Attention is on the apex court over the outcome of the presidential election held on Saturday, February 15, 2023. The Appeal Court

By Aduragbemi Omiyale An artificial intelligence-powered feature, Dream Screen for Shorts, designed to redefine how creators use YouTube, has been unveiled by the video streaming platform. The feature was introduced by the tech giant on Thursday alongside others at the Made On YouTube event. It was created to allow YouTube creators to reach more viewers. According to the firm, Dream Screen allows creators to add AI-generated video or image backgrounds to their Shorts simply by typing an idea into a prompt. With Dream Screen, creators will be able to generate new, fantastic settings for their Shorts that are only limited

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 Adedapo Adesanya  The Senate and the House of Representatives will on Tuesday resume plenary after weeks of vacation with expectations that they will attend to correspondences from President Bola Tinubu. The upper chamber adjourned for a six-week annual recess on August 17 after confirmating 45 out of the 48 ministerial nominees of President Tinubu. The Senate President, Mr Godswill Akpabio, also announced the composition of 74 standing committees on that day. Upon resumption, the Senate will commence its legislative duties by attending to correspondences from the President requesting the confirmation of some appointments he made. The appointments include those

By Modupe Gbadeyanka About eight food stores were brought down by fire on Sunday evening at the popular Apongbon market in Lagos Island. According to a statement signed by the Director General/Chief Executive Officer of the Lagos State Emergency Management Authority (LASEMA), Mr Olufemi Oke-Osanyintolu, the inferno was triggered by a power surge in one of the affected shops at the market. He said, “Upon arrival of the Sharks Squad from the Lagos Central Zone of the agency, it was discovered that the fire started from one of the shops’ roof top as a result of power surge, today, Sunday,

By Modupe Gbadeyanka The Nigerian Stock Exchange (NSE) suffered a further loss on Wednesday, when it closed in the red territory. Nestle led the losers’ chart after dropping N10 to close at N740 per share. It was closely followed by Total, which depreciated by N2.10k to finish at N272.90k per share and Unilever by N1.70k to end at N32.30k per share. Other losers today were Mobil, which went down by 99k to finish at N298 per share and Stanbic IBTC, which crashed by 80k to close at N17.70k per share. Despite the loss recorded by the stock market today, the

By Kestér Kenn Klomegâh With over 1300 delegates at the US-African Business Summit held in mid-July in Gaborone, Botswana, the main focus was on mapping out strategies to strengthen trade and economic relations between the United States and Africa. Most speakers emphasized reviewing and widening collaboration between governments, while others underlined the importance of the private sector as the key driver in achieving robust economic growth in African countries. African leaders, corporate business executives, and most participants called for an extension of the Africa Growth Opportunities Act (AGOA), which grants African countries the freedom to export products tax-free into the

By Adedapo Adesanya The Naira closed stronger, by N1 equivalent to 0.26 per cent, against the US Dollar at the Investors and Exporters (I&E) segment of the foreign exchange market on Monday, closing at N386/$1 in contrast to N387/$1 it ended at the segment last Friday. At the close of the session, transactions valued at $36.28 million were recorded compared with last session’s $25.17 million, indicating a day-on-day increase by 41.3 per cent or $11.11 million. A look at the performance of the domestic currency yesterday showed that the Nigerian Naira gained N1 on the greenback at the Bureaux De

By Investors Hub Asian stocks ended mostly higher on Thursday as upbeat U.S. earnings news helped offset investor concerns surrounding Brexit and the U.S.-China trade war. While luxury electric car maker Tesla reported a surprise third-quarter profit, software giant Microsoft’s quarterly earnings were boosted by cloud and Office revenues. Chinese stocks closed on a flat note as caution crept in ahead of a crucial meeting of the ruling Communist Party next week. The benchmark Shanghai Composite Index finished marginally lower at 2,940.92, while Hong Kong’s Hang Seng Index gained 0.9 percent to close at 26,797.95. Japanese shares hit over a

By Dipo Olowookere The Central Bank of Nigeria (CBN) on Wednesday continued with its Open Market Operations (OMO) auctions, selling a total of N35.69 billion bills. A breakdown of the sale showed that the apex bank sold N2.21 billion worth of the 91-day bills at 16 percent stop rate, while it traded N33.48 billion worth of the 198-day bills at 17.80 percent. During today’s trade, the treasury bills market was slightly bullish, with some more buys on some attractive short tenured bills, as market players anticipate inflows from OMO maturities on Thursday. The market is expected to remain bullish tomorrow

By Dipo Olowookere Governor Akinwunmi Ambode of Lagos State on Monday inaugurated a 12-member Economic Advisory Committee. During the ceremony held at the Lagos House in Ikeja, the Governor charged the team to ensure they remain honest with their assessments and suggestions. He further tasked the team to work diligently and focus on the priorities of his administrations, which are aimed at creating a better and conducive Lagos. Mr Ambode inaugurated renowned economist and founder of Agusto & Co, Mr Olabode Agusto as Chairman of the Committee, while Mrs Yetunde Akinloye as the Secretary. Members of the committee are Commissioners