Economic

The deadlock between Governor Siminalayi Fubara and the Rivers State House of Assembly persists as the Assembly intensifies its scrutiny of the state’s Public Procurement Law, culminating in a veto standoff. During Monday’s plenary session, Speaker Martin Amaewhule leveled accusations of fiscal mismanagement and unauthorized spending against the governor, sparking heated debate over the state’s…

The federal government has unveiled plans to remove the naira from all peer-to-peer (P2P) exchanges, a decision aimed at tackling concerns related to the manipulation of the local currency’s value in the foreign exchange market. The announcement was made by Emomotimi Agama, the Director General of the Securities and Exchange Commission, during a virtual conference…

President Bola Tinubu has given the assurance that his administration would continue to put in place policies for the industrialisation of the country. A statement by the presidential spokesman Ajuri Ngelale,  said Tinubu disclosed this when he received a delegation of the African Association of Automotive Manufacturers and the Nigerian Automotive Manufacturers Association. The President, represented…

Young serial investor, Osborn Nweze Umahi, is emerging as a powerhouse businessman in Nigeria and in Africa. Born 24 years ago, Osborne Nweze, the son of minister of Works, Dave Umahi, is changing the narrative about the reliance of sons of the rich on the pedigree and profile of their parents. Groomed and sharpened by…

Edited By Margret Oshinowo The entire executive committee members of the Peoples Democratic Party, PDP, Item ward C in Bende local government area of Abia State have resigned from the party. This was disclosed in a letter addressed to the chairman of the PDP in Bende Local Government Area, copied to the Abia chairman and…

The Brazilian Civil Defence Agency disclosed that the death toll from heavy rains in the southern part of the country has climbed to 29, with at least 60 people missing. According to Brazilian authorities, a state of emergency have been declared as the rescue team intensifies search for dozens of people reported to be missing….

Former Kaduna senator and social critic, Sen. Shehu Sani, says Nigeria should not only be a giant of Africa in population, but in all sectors of the economy. Sani, who represented Kaduna Central in the 8th National Assembly and served as the Chairman, Senate Committee on Local and Foreign Debts, told the News Agency of…

Former President Donald Trump held a major campaign rally in Wisconsin during a break in his hush money trial. He blamed his legal troubles and various issues in America on his election rival, President Joe Biden. In his speech in Waukesha, Trump emphasized the importance of winning the upcoming election, stating that he believes the…

The Federal Government has issued a stern warning to manufacturers involved in the production of substandard water pipes. The Minister of Water Resources and Sanitation, Prof Joseph Utsev, emphasized that stringent measures would be taken against any company found compromising quality standards in water pipe production within the nation. This warning was issued during Prof…

Edited By Margret Oshinowo Organised Labour has disclosed the reason for proposing an N615,000 minimum wage. In an interview on Wednesday, the President of Trade Union, Festus Osifo, said organised labour have considered many factors before coming up with the N615,000 minimum wage. Osifo said that organised labour awaits the Nigerian federal government’s counteroffer on…

In a significant political move, Senegal has officially replaced French with Arabic as its official language. The decision, announced after a recent Cabinet meeting, reflects the evolving political landscape following the election of opposition leader Bassirou Faye as president. President Faye, in a televised address, underscored Senegal’s commitment to its international obligations while signaling a…

The son of the former US President Donald Trump was among Americans who criticised South Dakota governor, Kristi Noem for killing her dog. Kristi Noem faced revealed in a new book that she killed her 14-month-old dog Cricket, a revelation that has attracted backlash from Republican and Democratic critics. A pair of top figures in…

The Naira on Tuesday, sustained its gain at the parallel market, and for the first time in one week gains also at the official window. At the Nigerian Autonomous Foreign Exchange (NAFEM) window, Naira recorded gains as it closed at N1,380.96/$1 a N38.15 appreciation compared to N1,419.11/$1 it closed on Monday By the end of…

The Federal Government has inaugurated the 4th National Productivity Order of Merit Award Committee, NPOMAC to select the awardees for the 2024 award. Mrs Nkeiruka Onyejeocha, Minister of State for Labour and Employment, said this during the inauguration ceremony of the 13-man committee on Tuesday in Abuja. The 13-man committee was inaugurated to determine the…

The House of Representatives has invited President Bola Tinubu and all relevant stakeholders in the petroleum industry to appear before the it to brief Nigerians on the measures put in place to end the current fuel scarcity and avert its reoccurrence in the future. The summon followed the adoption of a motion of urgent public…

The Major Energy Marketers Association of Nigeria (MEMAN) has now confirmed availability of Premium Motor Spirit (PMS), also called petrol, and was working with key stakeholders to end the present product delivery glitch. In a statement in Lagos, MEMAN, said: “Our members in Apapa and other locations in Lagos are taking product from 8 vessels…

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has issued a warning of a potential service withdrawal within the span of one month in Anambra State. The announcement follows claims that the state government has failed to settle its outstanding debt owed to IPMAN members. In a recent interview conducted in Awka, the capital of…

Edited by Afolabi Hannah Governor Godwin Obaseki of Edo State has made a significant announcement by increasing the minimum wage for civil servants to N70,000. This decision was disclosed by the governor during the inauguration of the Labour House in the state. Governor Obaseki also declared that the Labour House will be named after Adams…

By Margret Oshinowo The lead Counsel of Nnamdi Kanu, leader of the Indigenous People of Biafra, IPOB, Aloy Ejimakor, reacted to the United States, US, report on the Biafra agitator on Saturday. Ejimakor asked the Nigerian government to admit its error in Kanu’s trial and bring the prosecution to a closure, “without further ado.” The…

By Margret Oshinowo The Economic and Financial Crimes Commission, EFCC, attached to the Taskforce on Currency mutilation, Dollarization of the Economy and Forex Malpractice, have arrested 34 suspected currency speculators for alleged foreign exchange fraud. In a statement made by EFCC spokesman, Dele Oyewale, they were arrested in a sting operation on Friday, following credible…

By Margret Oshinowo Minister of Interior, Dr Olubunmi Tunji-Ojo on Thursday said that the federal government would relocate a lot of correctional centres to create better space, security, and infrastructure. Tunji-Ojo made the pledge during his visit to Suleja Medium Security Custodial Centre, where inmates escaped following a rainstorm that damaged the facility on Wednesday….

The Federal Government has taken decisive action by revoking 924 dormant mining licenses. This move, announced by the Minister of Solid Mineral Development, Dr. Dele Alake, comes as part of the government’s ongoing efforts to reposition the sector. Dr. Alake, speaking at a news briefing in Abuja, emphasized that the revocation followed due process, with…

By Margret Oshinowo Governor Babajide Sanwo-Olu of Lagos State, yesterday, kicked off a socio-economic intervention programme, tagged Eko Cares Initiative, to address the economic challenges facing the citizens of the country. The first phase of the programme has been designed to take care of over 500, 000 households as beneficiaries. Beneficiaries of the scheme cut…

Isaac Kamalu, the commissioner for Finance in Rivers State, has tendered his resignation, citing dissatisfaction with his recent redeployment. In a letter addressed to the Secretary to the Rivers State Government, Tammy Danagogo, Kamalu expressed his refusal to accept his transfer from the Finance Ministry to the Ministry of Employment Generation and Economic Empowerment. Kamalu…

The Minister of Aviation, Festus Keyamo, has taken decisive action following a recent incident involving Dana Airline, directing the suspension of the airline’s operations and mandating a comprehensive audit. This action comes in the wake of a Dana Air plane skidding off the runway at Murtala Muhammed Airport, Lagos, on Tuesday. In a statement released…

The Economic and Financial Crimes Commission (EFCC) has formally handed over 14 seized assets to Governor Peter Mba of Enugu State. The event, which took place at the EFCC Headquarters in Jabi, Abuja, was marked by a ceremony presided over by the Chairman of the Commission, Ola Olukoyede. During the ceremony, Olukoyede disclosed that the…

By Margret Oshinowo The Rivers State Attorney-General and Commissioner for Justice, Prof. Zaccaeus Adangor, SAN has rejected his redeployment to the Ministry of Special Duties (Governor’s Office), and also resigned from the State Executive Council. Adangor resigned barely 24 hours after the state Governor, Siminalayi Fubara, redeployed him in a minor cabinet reshuffle on Tuesday….