Asia Business World European and Global Markets Overview- Wayne Cole February 20, 2024 Ekemini Uba Despite high expectations, China’s market comeback post-holiday has been rather subdued, with stocks showing only modest gains thus far. While tourism revenues surged by 47% during the Lunar New Year…
Local Analysis of Nvidia’s Earnings Report and Impact on the Market February 20, 2024 Ekemini Uba Wednesday’s earnings report from chipmaker Nvidia (.NVDA) is anticipated to serve as a critical assessment for one of the market’s leading names, especially amidst the fervor surrounding artificial intelligence (AI)…
Business Commodities Local House Committee Urges Urgent Reconstruction of Nigerian Ports February 15, 2024 Ekemini Uba The House of Representatives Committee on Ports and Harbours, led by Chairman Nnolim Nnaji, has called upon the Federal Government to take immediate action in reconstructing key ports across the…
Energy Local Power Outages Affect 14 Communities in Ogun State February 15, 2024 Ekemini Uba Over 14 communities in Ogun State are grappling with power outages attributed to technical faults in power installations, according to the Ibadan Electricity Distribution Company (IBEDC). The spokesperson, Busolami Tunwase,…
Business Finance Local FG Plans to Raise N2.5 Trillion Through Bonds- DMO February 15, 2024 Ekemini Uba the Federal Government, through the Debt Management Office (DMO), aims to raise N2.5 trillion in its second FGN bonds auction of the year. The offerings, detailed in a circular released…
Business Commodities Local Oil Marketers Ready to Lower Fuel Prices February 15, 2024 Ekemini Uba Independent oil marketers in Nigeria have expressed their willingness to sell premium motor spirit (PMS), commonly known as fuel, at rates lower than those offered at Nigerian National Petroleum Company…
Finance Finance Local Stock Trade Naira Depreciates as FX Market Witnesses Decline in Dollar Supply February 15, 2024 Ekemini Uba The foreign exchange (FX) market in Nigeria experienced a notable 56.58% decrease in dollar supply on Wednesday, following a surge in liquidity just two days prior, attributed to interventions by…
Commodities Local FMBN Set for N500 Billion Recapitalization February 15, 2024 Ekemini Uba The Federal Mortgage Bank of Nigeria (FMBN) anticipates a promising future as the federal government pledges legislative amendments to relevant housing industry laws, aiming to bolster FMBN’s capitalization to N500…
Business Local FG to Address Food Shortage with Grain Distribution February 15, 2024 Ekemini Uba The federal government has expressed concern over the persistent food shortage in Nigeria and has announced plans to distribute 42,000 metric tons of assorted grains to address the escalating food…
Business Investing Local Stock Forex Crisis May Delay Foreign Investment, Says Report February 14, 2024 Ekemini Uba A recent report titled “Finding Rain in Drought.” by Comercio Partners, a prominent research and investment firm, suggests that foreign investors might delay investing in Nigeria due to the ongoing…
Banking Business Local First Bank to Reward Customers with N36m Cash Promo February 14, 2024 Ekemini Uba First Bank of Nigeria has introduced the second season of its Cash Out promo aimed at rewarding users of FirstMobile, its mobile banking solution. The FirstBank Cash Out Promo 2.0,…
Business Local Prof. Okereke Appointed as Special Adviser- Enugu Gov. February 14, 2024 Ekemini Uba Enugu State Governor, Peter Mbah, has appointed Prof. Chukwumerije Okereke as a special adviser on Climate Policy and Sustainable Development. The announcement was made in a statement signed by Prof.…
Business Finance Local NSIA Announces Offers $220, 000 for Innovation February 14, 2024 Ekemini Uba The Nigeria Sovereign Investment Authority (NSIA) has unveiled the second edition of the NSIA Prize for Innovation (NPI 2.0), offering Nigerian startups a combined prize value of $220,000. Winners of…
Business Commodities Finance Local Trade Nigeria’s Oil Output Increases to 1.43m Barrels in 2024 February 14, 2024 Ekemini Uba Nigeria’s oil production experienced a notable increase in January 2024, rising to 1.43 million barrels per day (bpd) from 1.34 million bpd recorded in December 2023, marking a 6.9% increase.…
Business Commodities Finance Local Stock Femi Otedola Set to Recieve $17m from Geregu Power Plant February 14, 2024 Ekemini Uba Nigerian billionaire Femi Otedola is set to receive a substantial final dividend exceeding $17 million from his significant 78.64-percent ownership stake in the rapidly growing power-generating company, Geregu Power Plc.…
Business Finance Local FCTA Lists Embassies Owing $5.3 Million in Ground Rent February 14, 2024 Ekemini Uba The Federal Capital Territory Administration (FCTA) in Abuja, Nigeria, has published a list of 43 embassies and high commissions owing a total of $5.3 million in ground rent. The list,…
Business Trade World Russia Warns the West Over Asset ‘Theft’ February 14, 2024 Ekemini Uba Russia issued a stern warning to the West on Tuesday, cautioning that Moscow would respond firmly if the United States and European Union moved to seize hundreds of billions of…
Business World Sweden Anticipates Approval for NATO’s Membership- Minister February 14, 2024 Ekemini Uba Sweden’s Foreign Minister, Tobias Billstrom, expressed optimism on Wednesday regarding Hungary’s anticipated approval of Sweden’s NATO membership application. Billstrom stated during a parliamentary speech that they welcome Turkey’s completion of…
Business Finance World Russia Halts Annual Payments to Arctic Council- Reports February 14, 2024 Ekemini Uba Russia has halted its annual payments to the Arctic Council until substantive work resumes with the participation of all member countries, as reported by the country’s foreign ministry to the…
Business World SSR Mining Suspends Gold Mine Production February 14, 2024 Ekemini Uba Gold miner SSR Mining suspended production at a mine in eastern Turkey following a landslide that occurred on Tuesday. The incident resulted in at least nine miners being reported missing…
Local India and United Arab Emirates Enter Trade Partnership February 14, 2024 Ekemini Uba India and the United Arab Emirates (UAE) signed a significant agreement on Tuesday concerning a trade corridor intended to link Europe with India through parts of the Middle East, using…
Business Europe insurance Technology World Elon Musk’s SpaceX Fined $3,600 by U.S. February 14, 2024 Ekemini Uba Elon Musk’s SpaceX was fined $3,600 by U.S. worker safety officials this month following an accident at its site in Washington state, which almost resulted in an amputation, as per…
Asia Business Commodities World OpenAi Founding Member Leaves Microsoft February 14, 2024 Ekemini Uba Andrej Karpathy, a prominent artificial intelligence researcher and founding member of OpenAI, announced his departure from the Microsoft-backed company on Monday, according to a post on the social media platform…
Breaking Business Local FG Engages US in Investigation of Chopper Crash Involving Nigerian CEO February 13, 2024 Ekemini Uba The Nigerian government has initiated discussions with the United States regarding the investigation into a tragic chopper crash that claimed the lives of prominent individuals, including Herbert Wigwe, CEO of…
Business Commodities Local Trade Shell Completes Crude Oil Supply to Port Harcourt Refinery February 13, 2024 Ekemini Uba The Shell Petroleum Development Company of Nigeria Limited has announced the successful completion of the supply of 475,000 barrels of crude oil to the Port Harcourt Refining Company Limited. In…
Breaking Business Local Access Holdings Appoints Bolaji Agbede as Acting CEO Following Herbert Wigwe’s Passing February 13, 2024 Ekemini Uba Access Holdings Plc has swiftly responded to the unexpected passing of its former Group Chief Executive Officer, Dr. Herbert Wigwe, by appointing Ms. Bolaji Agbede as the Acting Group CEO.…
Business investment Local Trade UK Officials Seek Investment Opportunities in Nigeria February 13, 2024 Ekemini Uba The UK Minister for Business and Trade, Kemi Badenoch, alongside the Prime Minister’s Trade Envoy to Nigeria, Helen Grant, is embarking on a mission to Nigeria aimed at fostering investment…
Business Commodities Nigeria’s Renewable Energy Drive Receives Boost with Launch of DART 3.0 Programme February 13, 2024 Ekemini Uba Nigeria’s efforts to enhance its energy supply through renewable sources received a significant boost with the commencement of the Demand Aggregation for Renewable Technology (DART) 3.0 programme. This initiative, designed…
Business Commodities Local Market Trade Hardship Increases over high Prices of Cooking Gas and Diesel February 13, 2024 Ekemini Uba Nigerian households and businesses face increasing challenges due to the rising costs of essential resources such as cooking gas and diesel, exacerbating financial strains amid stagnant incomes and currency devaluation.…
Business Commodities Investing Local Stock Cadbury Shareholders Approve Conversion of Loan to Equity February 13, 2024 Ekemini Uba At a General Meeting held in Lagos, shareholders of Cadbury Nigeria Plc endorsed the conversion of an outstanding intercompany loan of $7.718 million (N7.036 billion) owed to its majority shareholder,…
