Tribunal Upholds Tinubu’s Election as President

By Adedapo Adesanya The Nigerian government has outlined its priorities for the upcoming 28th Conference of Parties (COP) in Dubai, the United Arab Emirates (UAE). Speaking to journalists at a pre-COP workshop organised by the National Council on Climate Change (NCCC), the Director General of the council, Mr Salisu Dahiru, said the country has a number of issues dear to its economy and journey towards climate resilience that it hopes to achieve at COP28. COP 28 is the United Nations Climate Change Conference taking place from November 30 to December 12. COP takes place every year and is the world’s

By Adedapo Adesanya The Chairman of the House of Representatives Committee on National Planning and Economic Affairs, Mr Isiaka Ibrahim, has said the National Bureau of Statistics (NBS) must be insulated from political interference to perform more effectively. Mr Ibrahim said this at a Public Lecture to mark the 2023 African Statistics Day celebration in Abuja on Wednesday themed Modernising Data Ecosystems to Accelerate the Implementation of the AfCFTA: The Role of Official Statistics and Big Data in the Economic Transformation and Sustainable Development of Africa. He said the reliability of data from the stats office would be questioned if

By Modupe Gbadeyanka The Programme Coordinator for Media and Policy at the Social and Economic Justice Advocacy (SEJA), Mr Jerome-Mario Utomi, has challenged the Lagos State government to lead the movement against environmental injustice. Mr Utomi, while speaking on Tuesday as a panellist at the Institute for Housing and Urban Development Studies (IHS), Erasmus University, Rotterdam, the Netherlands, also advised the government to stop being the coach and captain during environmental conversations. At the panel discussion themed “The role of multi-stakeholder engagement in achieving environmental justice, he noted engagement and collaboration have been overused by those in the position of

By Adedapo Adesanya  Nigeria’s anti-crude theft troop, Operation Delta Safe, has destroyed 50 illegal oil refining sites in the Niger Delta region and arrested 51 suspects in the last week. The Director of Defence Media Operations, Maj.-Gen. Edward Buba, who made this known on Thursday in Abuja while briefing newsmen on the operations of the military, said the troops also eliminated four criminals and recovered arms and ammunition. He added that a total of 578,900 litres of stolen crude oil, 454,330 litres of illegally refined Automotive Gas Oil and 10,000 litres of dual-purpose kerosene (DPK) were recovered during the operations.

By Investors Hub The major US index futures are pointing to a roughly flat opening on Monday as traders may be reluctant to make any significant moves. Traders may stick to the sidelines ahead of the release of earnings news from a number of big-name companies later this week. Bank of America (BAC), Goldman Sachs (GS), UnitedHealth (UNH), IBM (IBM), American Express (AXP), Microsoft (MSFT), Visa (V), and General Electric (GE) are among the companies due to report their quarterly results this week. Stocks moved mostly higher over the course of the trading session on Friday, extending the upward trend

By Modupe Gbadeyanka The relative stability enjoyed by the local currency at the various segments of the foreign exchange markets should be sustained this week. This is the view of analysts at Cowry Asset, a Lagos-based investment research company, which is a leader in the industry. Last week, the Naira remained stable at the various windows, closing mixed at the close of transactions on Friday. “In the new week, we expect stability in the Naira/Dollar rate in most market segments, especially at the BDC Segment, as Central Bank of Nigeria (CBN) sustains its special interventions,” they opined in their weekly

By Modupe Gbadeyanka The Nigerian Naira was relatively unchanged against the Dollar at the foreign exchange (forex) market on Wednesday, August 08, 2018. An analysis of the day’s transactions by Business Post showed that apart from the Investors and Exporters (I&E) segment of the market, where a marginal gain was recorded, the local currency traded flat yesterday against the American currency. At the I&E forex window, the Naira slightly appreciated by 22 kobo to close at N362.08 per Dollar in contrast to N362.30 it traded the previous day. But at the interbank market, the local currency was traded at N306

By Adedapo Adesanya A bill to abolish the discrimination between holders of Higher National Diploma (HND) and Bachelor of Science (BSc) has been passed by the Senate. The landmark bill was passed on Wednesday and the president of the upper chamber of the parliament, Mr Ahmad Lawan, said this will serve as a motivation to HND holders from polytechnics and monotechnics. “This particular (HND discrimination) issue has been on the front burner for a long time. “I recall that in the House (of Representatives) between 2003 and 2007, this was one bill that was so important and it is a

By FBNQuest Research The DMO’s medium-term strategy for 2016-19 has a target for a 60/40 mix for the FGN’s domestic and external debt obligations. Over the four years through to December 2016, the ratio has moved ten percentage points towards the target, to 76/24. This move is due more to naira exchange-rate depreciation than changes in the currency of issuance. Our chart does not capture the DMO’s latest data release for end-June 2017, which is partial and includes the naira debt of state governments in the domestic total.  H1 2017 saw the return of the FGN to the Eurobond market

By Adedapo Adesanya The two prominent labour unions in the country, the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) have described the federal government’s decision to suspend the removal of petrol subsidy as the “best option” due to the current economic climate. Mr Benson Upah, Head of Information of the NLC, while reacting to the suspension of the subsidy removal by the federal government yesterday, said the organisation was happy that the right step was being taken. Business Post reported on Thursday that the National Economic Council (NEC) announced the halt of the removal of subsidy on

By Adedapo Adesanya The Premier League has confirmed that this weekend’s football fixtures will not go ahead but other sports are poised to continue after the death of the monarch, Queen Elizabeth II on Thursday afternoon. At a meeting on Friday morning, Premier League clubs paid tribute to Her Majesty Queen Elizabeth II and said “to honour her extraordinary life and contribution to the nation, and as a mark of respect, this weekend’s Premier League match round will be postponed, including Monday evening’s game.” Mr Richard Masters, Premier League Chief Executive, said: “We and our clubs would like to pay