Day: 7 September 2023
PZ Cussons proposes buyout and de-listing of PZ Cussons Nigeria
PZ Cussons, the renowned soap maker based in Manchester, has revealed its intentions to acquire the minority shareholders of PZ Cussons Nigeria and subsequently remove the business from the Nigerian stock exchange. The decision to take this step is attributed to the “foreign exchange challenges” experienced in Nigeria. According to the company, “The group believes Read More…
Nigeria secures nearly $14 billion investment pledges from India
Nigeria has successfully garnered investment pledges totalling almost $14 billion from Indian investors, signalling a growing economic partnership between the two nations. Ajuri Ngelale, a presidential spokesperson, made the announcement and highlighted important investment commitments: President Bola Tinubu, representing Nigeria as a guest country at the upcoming G20 summit in New Delhi, played a pivotal Read More…
Carlos Alcaraz sets up U.S. Open semi-final clash with Medvedev
In an eagerly anticipated U.S. Open semi-final, Carlos Alcaraz is set to face Daniil Medvedev, featuring the last two Flushing Meadows champions. The world number one Medvedev’s convincing 6-3, 6-2, 6-4 victory over a weary Alexander Zverev on Wednesday served as the foundation for this match. Zverev’s readiness to take on the energetic Alcaraz was Read More…
U.N. Sec Gen warns of global economic fragmentation at ASEAN summit
During a summit involving Southeast Asia’s ASEAN bloc, China, the United States, and other nations in Indonesia, U.N. Secretary-General António Guterres issued a warning on Thursday about the world facing a potential “great fracture” in its economic and financial systems. Guterres, in a comprehensive address that touched on geopolitical tensions, multilateral development finance, and climate Read More…
Naira depreciates against Dollar, hits N771.59 in forex market
On Wednesday, the Nigerian naira experienced a decline against the US dollar, reaching an exchange rate of N771.59 at the Investors and Exporters window. This represented a 3.57% depreciation compared to the N744.97 it was valued at on Tuesday. The open indicative rate concluded at N766.67 to the dollar on Wednesday, while the highest rate Read More…
UNILAG students protest fee hike, ask for reversal, release of peers
Students at the University of Lagos have urged the Sabo Police Station’s security personnel to promptly release their fellow students arrested during a peaceful protest. At 8 a.m., the protesters gathered at the institution’s main gate to express their opposition to the university’s management’s mandatory fee hike. In an August 21 statement, the university’s management Read More…
President Bola Tinubu promises unity and prosperity after PEPC verdict
Nigerians have been given a solemn promise from their president, Bola Tinubu, who has pledged his renewed commitment to creating a harmonious and wealthy country. This statement was made in reaction to the Presidential Election Petition Tribunal’s decision on February 25. Chief Ajuri Ngelale, the Special Adviser to the President on Media and Publicity, conveyed Read More…
NLC asks workers to return to work after warning strike
Following the conclusion of the two-day warning strike that the Congress called, the Nigeria Labour Congress (NLC) has issued a directive for workers to return to work on Thursday. This announcement was made in a statement released by Mr. Joe Ajaero, the President of NLC, titled “The two-day Nationwide Warning Strike: Nigerian Workers Have Spoken.” Read More…
President Bola Tinubu gets $3 billion from Indian investors to grow Nigerian steel industry
President Bola Tinubu has achieved a momentous feat by garnering a substantial $3 billion investment commitment from Indian investors, aimed at bolstering Nigeria’s steel industry. Mr. Abdullahi Haruna, the Special Assistant for Media and Publicity to the Minister of Steel Development, Prince Shauib Audu, revealed this significant development in a statement on Wednesday in Abuja. Read More…