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Returns on Nigeria Bonds, T-Bills Steady as Naira Falls The average returns on Federal Government of Nigeria (FGN) borrowing instruments, Bonds and Treasury bills were steadies amidst falling local currency, data obtained from the market showed. The Treasury bills secondary market traded on a quiet note, as the average yield was unchanged at 7.3%. In […]

Prices of Crude Oil Rise on OPEC+ Output Cuts Prices of crude oil rose on Friday over expectations that the Organisation of Petroleum Exporting Countries and allies (OPEC+) producers would extend output cuts until the end of the year. Crude oil prices have been trading firm this morning after Russia confirmed that it will extend […]

Without France There’d be No Mali, Burkina Faso, Niger -Macron Without France’s military operations in the Sahel, “there would probably no longer be a Mali … Burkina Faso, and I’m not sure there would still be Niger”, French President Emmanuel Macron told French publication Le Point. Macron is referring to the former colonial power’s interventions […]

U.S Portfolio Holdings of Foreign Securities Slide to $14trn The value of U.S. holdings of foreign securities at year-end 2022 was approximately $14.0 trillion, according to a survey undertaken jointly by the U.S. Department of the Treasury, the Federal Reserve Bank of New York, and the Board of Governors of the Federal Reserve System. The […]

Price Inflation Drags Business Confidence to 9-Year Low In Nigeria, price inflation remains a deal breaker for private sector performance in the month of July, the Stanbic IBTC purchasing manager index (PMI) shows as business confidence hit a new low. In the latest release by S&P Global, steep price pressures acted to limit the pace […]

Federal, States, LGs Share N4.37trn in Six Months– NEITI The three tiers of government – the Federal, 36 States and Federal Capital Territory and Local Government Councils (LGs), shared a total of N4.37 trillion from the Federation Account as statutory revenue allocations between January and June 2023. This is contained in the latest report by […]

Honeywell Flour Mills Earnings Plunge over Rising Costs Honeywell Flour Mill Plc’s earnings record for the financial year 2023 was battered by foreign exchange losses which drove the company’s finance costs higher. The company lost more than N4 billion to fx related transactions in its following naira devaluation. With inflation on the street, other costs […]

President Bola Tinubu has approved the appointment of 32-year-old Khalil Suleiman Halilu as the Executive Vice Chairman of the National Agency for Science and Engineering Infrastructure (NASENI). According to a statement issued Friday, September 1, by the Special Adviser to the President on Media and Publicity, Ajuri Ngelale, Halilu’s appointment, which takes immediate effect, meant […]

President Bola Ahmed Tinubu has approved the appointment of a new Board and Management team of the Niger Delta Development Commission (NDDC), inclusive of the following Board and Management team members: The president, according to a release issued on Friday by his Media Adviser, Ajuri Ngelale, Mr. Chiedu Ebie – Chairman – Delta Dr. Samuel […]

A video has surfaced online showing a young lady confronting men of the Nigeria Police who allegedly attacked her sister during a stop and search in Rivers State. In the video shared on Facebook Friday by human rights activist, Harrison Gwamnishu, the lady simply identified as Jennifer, was heard cussing out the officers who she […]

President Bola Tinubu has declared his unwavering support for a partnership between the Federal Ministry of Health’s National Eye Health Programme and the Peek Vision Foundation to provide more than five million pairs of eyeglasses for Nigerians with sight impairments. The president, according to a release issued on Friday by his Media Adviser, Ajuri Ngelale, […]

The federal government has only released N2 billion from the N5 billion it offered to each states as palliative to cushion the impact of subsidy removal. The reason for releasing N2 billion is to mitigate the obvious spike in inflation if N5 billion had been released. Addressing journalists at his maiden press briefing in Abuja […]