Zuma To Address Africa Editors Forum

By Bliss Okperan The Deputy Governor of Edo State, Mr Philip Shaibu, has announced his interest in the governorship election slated for 2024. Mr Shaibu, who fell out with former Governor Adams Oshiomhole to pitch his tenth with Governor Godwin Obaseki, declared his interest in the number one office of the state on Monday. In a televised announcement, the former student union leader said he intends to govern the state because of his desire to transform the Heartbeat of the Nation. According to him, his past records will make it easy for him to clinch the sole ticket of the

By Bliss Okperan The Governor of Ogun State, Mr Dapo Abiodun, has asked Nigerians to give President Bola Tinubu more time, saying he has performed well in office since taking over on May 29, 2023, noting that he inherited an almost comatose economy from former President Muhammadu Buhari. “The President Tinubu-led administration has been very bold and audacious. They’ve taken the bull by the horns. They’ve done what no government has done in the history of Nigeria,” Mr Abiodun said during an interview on Channels Television’s Sunday Politics show. Recall that a few days ago on Channels TV, the Governor

By Bliss Okperan A helicopter operated by the Nigerian Air Force (NAF) on Friday crash-landed and exploded at the NAF Base, Port Harcourt, Rivers State. The NAF Director of Public Relations and Information, Air Commodore Edward Gabkwet, confirmed the incident in a statement, noting that the NAF-35p had taken off on an operation against oil thieves in Rivers State before the unfortunate incident. He said five persons on board survived the air mishap with minor injuries. “A Nigerian Air Force (NAF) MI-35P helicopter crashed at Port Harcourt today, December 1, 2023. The unfortunate incident occurred at about 7.45 am shortly

By Adedapo Adesanya Tata International is set to expand operations in Nigeria through a strategic partnership with the Lagos Free Zone (LFZ) following the signing of a fresh arrangement. The agreement was signed in the presence of the Managing Director of Tata International Limited, Mr Anand Sen, by the Managing Director of Tata Africa Holdings Pty Ltd, Mr Len Brand. This move will help Tata International build on its existing relationship in the country since 2006 when it established operations in Nigeria. “As a brand synonymous with quality products and ethical business operations in Africa, Tata International is excited to

By Adedapo Adesanya The Debt Management Office (DMO) has disclosed that Nigeria’s total debt profile as at the end of the first quarter of the year stood at N28.6 trillion. This indicated a 4.4 percent quarter-on-quarter increase from N27.4 trillion that was on record in the fourth quarter of 2019. In a breakdown that was released on the DMO website, domestic debt accounted for 65.1 percent amounting to N18.6 trillion ($51.6 billion), while external debt made up for the remaining 34.9 percent, which translates to N9.9 trillion ($27.7 billion). Federal Government’s debt during the period stood at N14.5 trillion, representing

Ahead of the 2019 general elections, a sub-committee of the Kogi East Elders’ council political committee has adopted the candidate of the African Democratic Congress, (ADC), Dr Victor Adoji, as the preferred choice for the Kogi East Senatorial seat. In report signed by Pro. Sunday Okpanachi (Chairman) and Prof S. O. Ejima (Secretary) and nine others, it was noted that Mr Adoji came top when compared to candidates of the other political parties. While stating the reasons for the setting up of the committee, the report said, “At a time when the Igala/Bassa ethnic nationalities find themselves at critical crossroads

By Dipo Olowookere It was another bad day on the floor of the Nigerian Exchange (NGX) on Tuesday as the trading platform further closed bearish by 0.23 per cent amid sustained profit-taking. The absence of a positive trigger retained the weak investor sentiment as the market closed with 16 appreciating stocks and 28 depreciating stocks led by Conoil and Jaiz Bank, which lost 10.00 per cent each to settle at N23.85 and 72 kobo respectively. University Press went down by 9.97 per cent to N2.62, NEM Insurance declined by 9.87 per cent to N3.56, while RT Briscoe dropped 9.68 per

By Modupe Gbadeyanka Minister of Finance, Mrs Kemi Adeosun, has disclosed that Federal Government will continue to borrow from international organisation because it was cheaper than domestic borrowing. While addressing lawmakers last week, the Minister said it would be extremely difficult for the government to meet obligations in capital budget, pointing out that there was N2.3 trillion deficit in the 2017 capital budget. Mr Adeosun noted that the 2017 budget deficit was projected mainly on external and domestic borrowing. She hinged further capital releases on how fast the government could push the borrowing process, adding that domestic borrowing would not

By Adedapo Adesanya To better serve small business owners, financial technology startup, Aladdin, which provides ecosystem banking to its more than forty thousand customers, has announced a change in its brand identity. On Aladdin, users can borrow, save, invest, make payments, get cards, get insured, buy and sell products and services and interact with other users. As part of the transformation, Aladdin released a new brand logo and design to embody its core values of innovation, resilience, and transparency. Its existing “purple & orange” brand colours have been maintained for all marketing and branding purposes. According to a statement by

By Dipo Olowookere The Nigerian Stock Exchange (NSE) further depreciated on Wednesday amid sell-offs on many counters across different sectors of the market. The equity market suffered a 0.26 percent loss at the close of trading today, pulling back the year-to-date returns to 6.55 percent. For the market indices today, the All-Share Index (ASI) decreased by 105.78 points to settle at 40,749.86 points, while the market capitalisation reduced by N38.2 billion to close for the day at N14.720 trillion. The NSEIND and NSEOILG5 were the only sector indices which traded positive, with gains of 0.59 percent and 0.07 percent respectively.

By Modupe Gbadeyanka A new report by the National Bureau of Statistics (NBS) has disclosed that Nigeria’s annual inflation as at October 2016 was now 18.3 percent. In the report posted on the agency’s website on Monday, it was disclosed that the figure rose from 17.1 percent it was in September 2016. The reason for this, Business Post gathered, was because of the higher prices for electricity, clothing and food in the country. The 18.3 percent inflation rate is Nigeria’s highest in more than 11 years and the ninth straight monthly rise. The agency explained that, “During the month, the

One of the major players in the fixed income market in Nigeria, FBNQuest, has highlighted the need for investors to engage the services of professional and accredited fund managers to manage their investors. This is because the fixed income market is presently battling with a low yield environment and according to FBNQuest, the expertise of a fund manager can go a long way to make investors take the best of the situation. In this write-up, the company listed and explained why investors should use a fund manager in a declining fixed income yield space. Hunting for Yield The outbreak of