War on Drugs: Marwa Lauds Germany’s Support for Nigeria

By Adedapo Adesanya Nigeria faces a crippling fertiliser shortage as 34,000 metric tonnes of Russian Fertiliser meant for Nigeria is stuck at ports in the European Union (EU) as a result of continued war in Ukraine. Russia’s Foreign Minister, Mr Sergey Lavrov, confirmed this development on Saturday at the 78th United Nations General Assembly (UNGA) in New York, noting that 260,000 metric tonnes of Russian fertilisers have been stranded in EU ports since 2022. According to Russian News Agency, TASS, Mr Lavrov informed reporters that, “We are ready to give these fertilisers to African countries for free. It took six

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 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 Dipo Olowookere A facility in Victoria Island, Lagos, belonging to Samsung West Africa, which was shut down last Tuesday for product registration infractions, has been reopened by the Standards Organisation of Nigeria (SON). It was gathered that the office was reopened for business about 24 hours after it was sealed by the standards agency. Head of Product Registration Unit at SON, Engr Enebi Onucheyo, confirmed that the office premises was reopened about 24hrs after it was shut due to the compliance of the company to requirements of the SON Act No. 14 of 2015. Engr Enebi emphasised the role

By Investors Hub Asian stocks finished mostly higher on Thursday after the latest FOMC minutes showed Fed officials expressing some caution over the timing of future interest rate increases. Chinese shares ended little changed ahead of the Communist Party Congress starting next week. Hong Kong’s Hang Seng Index rose 69.46 points or 0.2 percent to 28,459.03. Japanese shares closed at a more than two-decade high as polls suggesting that Prime Minister Shinzo Abe’s ruling coalition is heading for a two-thirds majority in the forthcoming election helped offset concerns over a firmer yen. The Nikkei 225 Index climbed 73.45 points or

By Dipo Olowookere In order to meet the recapitalisation deadline set by its industry regulator, the National Insurance Commission (NAICOM), Consolidated Hallmark Insurance Plc is considering the different available at its disposal. Business Post reports that some of these options include merging with another insurance company, swallowing another competitor, rights issue, public/private placements, amongst others. On Thursday, November 21, 2019, the board is organising an Extraordinary General Meeting (EGM) in Lagos to seek approval of the company’s shareholders for these options. The board expects to get approval to raise the authorised share capital of the insurer to N10 billion from

By Modupe Gbadeyanka African women fund managers have been promised financing support by Visa to help expand their businesses across the continent. The fund, according to Visa, is earmarked for only 55 women who participated in a programme organised in 2020 by the African Women Impact Fund (AWIF). The money is mainly for the working capital needs of women fund managers across South, East, and West Africa, a statement from the payments platform said. AWIF is a collaboration between Standard Bank and the United Nations Economic Commission for Africa (UNECA) and the grant is an extension of the She’s Next

By Adedapo Adesanya The crude oil market settled higher on Friday but fell week-on-week after health authorities in China eased some of the country’s heavy COVID-19 curbs. Brent crude futures gained $2.32 or 1.1 per cent to close at $95.99. However, on a week-on-week basis, it fell by 2.6 per cent this week. As for the United States West Texas Intermediate (WTI) crude futures, it appreciated by 2.9 per cent or $2.49 yesterday to trade at $88.96 a barrel but went down by nearly 4 per cent w-o-w. Prices were supported as China on Friday eased some of its COVID

By Modupe Gbadeyanka The 2019 edition of Global Entrepreneurship Congress will be hosted by Bahrain. The Arab nation was named host country of the event at a high-profile event at the UN HQ in New York, confirming the country’s position as a business-friendly nation and an international leader in the field of entrepreneurship and business innovation. The annual global event, hosted by countries including the US, UK, China, Italy, Brazil and Russia, brings thousands of entrepreneurs, investors, researchers, and policymakers from more than 170 countries to identify new ways of helping founders start and scale new ventures around the world.

By Adedapo Adesanya The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) would award Practicing Licenses to 150 qualified Business Development Service Providers (BDSPs). This would be under the National BDSPs Certification and Accreditation Framework coming up on Thursday, October 7. This was disclosed by Mr Ibrahim Mohammed, Head, Corporate Affairs Unit, SMEDAN in a statement on Thursday. Mr Mohammed stated that the National BDSPs programme was designed to standardise the delivery of Business Development Services to Micro, Small and Medium Enterprises (MSMEs) in Nigeria. This is in furtherance to achieve objectives laid down by the federal government when

By Adedapo Adesanya Nigerian superstar, Kizz Daniel, as well as internationally acclaimed DJs Diplo and Calvin Harris, with Nora Fatehi and Trinidad Cardona, will headline the flagship FIFA Fan Festival event in Doha during the World Cup scheduled to start on November 20. Performances are an extension of FIFA Sound, an entertainment strategy designed to bring more connections between the beautiful game and music. The five international, award-winning musicians will perform on the Qatar 2022 FIFA Fan Festival mainstage as part of the FIFA Sound. While Diplo (US) will have his performance on November 22, the Buga star will have