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South Africa’s Fiscal Outlook Clouded by Wage Costs –Fitch The South African government’s projection that government debt/GDP will rise to 77.7% in the fiscal year ending March 2026 (FY26) is broadly in line with Fitch Ratings’ forecasts. However, the global rating firm said it believes the risk that the government fails to meet its ambitious […]

Mutfwang Presents N295bn 2024 Budget for Plateau Gov. Caleb Mutfwang of Plateau on Tuesday, presented a budget of N295.4 billion for 2024, to the state House of Assembly for approval. Speaking at the ceremony, Mutfwang said that the budget tagged “Budget of New Beginnings”, was aimed at laying a solid foundation for the people of […]

Neveah Redeems N2.04bn Commercial Paper Issuance Neveah Limited, an Abuja-based leading commodity trading company, dealing in the export of solid minerals and agricultural products, said it redeemed its obligation of the N2.04 billion Series 13 Commercial Paper (CP) notes issued in July. A CP is a form of unsecured short-term debt security just like a […]

Oil Slides to 10-Week Low as US Dollar Rally Oil prices slumped to a 10-week low on Tuesday due to a stronger US dollar worsening energy costs while a weak macro sentiment outweighed more positive data from China. Brent crude is 1.5% lower at $83.86 a barrel. West Texas Intermediate (WTI) crude futures slipped to […]

The leader of the Pan Niger Delta Forum (PANDEF), Edwin Clark, in an open letter to the All Progressive Congress candidate (APC), Bayelsa governorship candidate in the November 11, governorship election, Timipre Sylva, said that he “burnt the goodwill I had for you when you championed violence in the general elections on two occasions in […]

Prominent lawyer Ebun-Olu Adegboruwa SAN has called on the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) to immediately embark on a total nationwide strike in response to the attack on NLC President, Joe Ajaero. In a statement on Monday, Adegboruwa said prolonged deliberations are unnecessary following last week’s “unprovoked terror and humiliation” of […]

Peter Obi, presidential candidate of the Labour Party (LP) in the 2023 elections, has defended the purchase of sports utility vehicles (SUVs) for members of the national assembly. There have been reports that the leadership of the 10th national assembly has bought SUVs for all lawmakers. Each SUV is said to be valued at N160 […]

The Nigeria National Petroleum Corporation Limited (NNPCL) on Tuesday introduced a new low-sulfur crude oil grade dubbed Nembe, which it intends to sell mostly on the European market. The Executive Director of crude and condensate at NNPC Trading, Maryamu Idris told the Argus European Crude Conference in London that the Nembe crude grade is comparable […]

Zamfara Governor, Dauda Lawal, has reiterated his commitment to ensuring an independent judiciary in the state. The governor stated this while on inspection visit to the high courts in the state, beginning at the High Court complex in Gusau, the capital. A statement on Tuesday by the Governor’s spokesperson, Sulaiman Bala Idris, explained that the […]

The Court of Appeal on Tuesday nullified the participation of the PDP and its Senatorial candidate in the Feb.25 National Assembly Election, Napoleon Bali for the Plateau South Senatorial District of Plateau State on grounds of refusal to carry out the order of Court. The Appellate Court in a judgment delivered by Justice Elfaida Williams-Dawodu […]

The leadership of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) have announced a total nationwide strike to take effect from next Tuesday, November 14, 2023. The agreement was reached by the two unions’ leaderships on Tuesday, November 7, in Abuja following an unusual meeting of the National Executive Council. This move […]

The House of Representatives on Tuesday passed a resolution urging the Federal Capital Territory to begin issuing Certificates of Occupancy to property owners located within the Mass Housing Scheme Estate. The motion was introduced by Hon. Sada Soli (APC, Katsina), who highlighted the legislative authority of the National Assembly over the Federal Capital Territory, as […]