Zero Hunger: World Food Programme Promises Nigeria $2.5bn

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 The federal government has declared Monday, October 2, 2023, a public holiday to celebrate Nigeria’s 63rd Independence Day, which falls on Sunday, October 1. The Minister of Interior, Mr Olubunmi Tunji-Ojo, made this known in a statement signed by the ministry’s Permanent Secretary, Mrs Oluwatoyin Akinlade, in Abuja on Thursday. Mr Olubunmi acknowledged the global socio-economic hardship, noting that Nigeria is not excluded. He, however, reasserted the government’s commitment to tackling the issues facing the country to reassure Nigerians. “It is today a known fact that difficult Socio-Economic and Security challenges are global, and Nigeria is not

By Bliss Okperan A news report filtering in indicates that a part of the Supreme Court complex in Abuja has been gutted by fire. The incident, according to what Business Post gathered, happened on Monday morning. It was said that offices of three justices were affected by the inferno, whose cause is yet unknown at the time of filing this report. Details later…

By Damilola Faustino Over the past few years, awareness of startup accelerator programs like Y-Combinator and 500 Startups among others has skyrocketed. Typically, startup accelerators periodically select a batch of companies, usually in the same early stages of their lifecycle. In return for a small portion of equity, they offer advice, investor connections and mentorship. Programs can culminate in events much like debutante balls called a “demo day” where the startups have a chance to pitch to many investors at the same time. Despite the trend, many early-stage entrepreneurs remained misinformed about the benefits of going through accelerators. Here’s are key insights about what

By Adedapo Adesanya Oil prices traded at their lowest in three weeks dropping 3 per cent, impacted by the growing concern of supply from the United States and Iran while coronavirus cases continue to increase in Asia. Brent crude saw its value lose $2.04 or 2.97 per cent to trade at $66.67 per barrel, while the West Texas Intermediate (WTI) crude futures lost $2.08 or 3.18 per cent to sell at $63.41 per barrel. The supply fears came as weekly data from the Energy Information Administration (EIA) showed an increase in crude inventories in the largest oil producer, the US,

By Ahmed Rahma The General Officer Commanding (GOC) 6 Division in Port Harcourt, Rivers State, Major-General Johnson Olu Irefin, had died from coronavirus-related complications on Thursday. Mr Irefim, who died in Abuja after testing positive for COVID-19, was a participant at the Chief of Army Staff’s 2020 annual conference held in Abuja. While at the event, he fell ill and was taken to the hospital on Tuesday evening. The deceased was the GOC 81 Division Nigerian Army in Lagos before he was appointed as the GOC in Port Harcourt in July 2020, replacing Major General Felix Agugo. The death of

By Adedapo Adesanya Oil prices continued southwards on Tuesday as talks progressed between Russia and Ukraine as both parties look to end their month-long conflict. Brent crude lost 1.1 per cent or $1.24 to sell at $111.2 per barrel while the United States West Texas Intermediate (WTI) depreciated by 1.62 per cent to trade at $104.2 per barrel. Ukrainian and Russian negotiators met in Turkey for the first face-to-face discussions in nearly three weeks. The market reacted after the top Russian negotiator said the talks were constructive and promised to reduce its military operations around Kyiv and northern Ukraine. On

By FBNQuest Research The total monthly payout by the Federation Account Allocation Committee (FAAC) to the three tiers of government retreated in August (from July revenues) to N468 billion ($1.53 billion) from N652 billion. The payout in July, the highest for 12 months, now seems in the distant past, and the high hopes of a turnaround in non-oil revenue collection have been deflated. We have often noted how the FGN is pinning its plans for capital spending and social interventions on such a turnaround. The debt service burden also threatens to soar out of control.  The commentary from the federal

By Dipo Olowookere The Nigerian Petroleum Development Company (NPDC), an Upstream Subsidiary of the Nigerian National Petroleum Corporation (NNPC), has achieved a 100 per cent local content input in the development of Oredo Integrated Gas Handling Facility. Group Managing Director of NNPC, Dr Maikanti Baru, declared this Wednesday during a tour of the NPDC’s Oredo Flow Station, Oredo Gas-to-Pan-Ocean Facility, Oredo Integrated Gas Handling Facility (IGHF), as well as the Oredo LPG Dispensing Facility, all in Edo State. Commending NPDC on the feat, Mr Baru said he was proud that a world-class facility was being put in place by a

By Modupe Gbadeyanka For the third trading sessions, the Nigerian Stock Exchange (NSE) finished on Friday in the green territory. Gains recorded by blue-chip stocks further pushed the stock market northward by 1.53 percent to expand the year-to-date gain to 35.15 percent. Business Post reports that the market breadth ended positive today with 32 appreciating stocks against 11 declining equities. In addition, the All-Share Index (ASI) improved by 546.95 points to settle at 36,320.93 points, while the market capitalisation increased by N188.3 billion to close at N12.5 trillion. The renew confidence of investors in the stock market reflected in the

By Eyitayo Oyelowo Revenue generation is the path to modern development. For government at all levels to meet the demands of its citizenry in terms of basic infrastructure, sustainable revenue is key. For most state governments, these means effective collection and management of revenue. In the light of this, when the Kwara State Governor, Alhaji Abdulfatah Ahmed got re-elected into office in 2015, his first line of action was to reposition the revenue collection process through the change in people, process and technology having realized that the allocation coming to the state from the federal government had dwindled. This repositioning