In a recent statement, Russian President Vladimir Putin has emphatically denied any Russian intentions to launch attacks on NATO countries, including Poland, the Baltic states, and the Czech Republic. This declaration comes amidst the ongoing conflict with Ukraine, which has seen the deepest rift in Russia-West relations since the Cuban Missile Crisis of 1962. Addressing Read More…
Month: March 2024
Lagos tops Nigerian states in debt as national public debt reaches N97.34 trillion
The National Bureau of Statistics (NBS) has released a concerning report on Nigeria’s public debt stock, which has surged to N97.34 trillion ($108.23 billion) in the fourth quarter of 2023. This represents a 10.73% increase from the previous quarter, with Lagos State leading the charge in both domestic and external debts. The NBS report indicates Read More…
Nigerian stock market rebounds with key bank stocks leading the charge
The Nigerian stock market experienced a rebound on Wednesday, registering a 0.32% gain, buoyed by a surge in buying interest in top-tier bank shares. The market capitalisation, which opened at N58.775 trillion, saw an increase of N188 billion to close at N58.963 trillion. The All-Share Index similarly rose by 331.2 points, ending the day at Read More…
Naira gains strength as CBN tightens monetary policy
The Nigerian Naira saw a notable appreciation against the US dollar, closing at N1,300 per dollar, a 5.97% increase at the official market by Wednesday’s end. This marked improvement from Tuesday’s rate of N1,383 per dollar is a reflection of the Central Bank of Nigeria’s (CBN) recent monetary policy actions. The trading session witnessed a Read More…
UN report highlights global food waste crisis amidst hunger
The UN Food Waste Index Report 2024, released by the UN Environment Programme (UNEP) in anticipation of the International Day of Zero Waste, reveals a staggering 1 billion meals wasted daily across all continents in 2022. This alarming figure contrasts sharply with the 783 million people affected by hunger and the one-third of humanity grappling Read More…
Abuja court declines to halt Labour Party convention, orders due process
The Federal High Court in Abuja has refused to issue an injunction against Julius Abure, the National Chairman of the Labour Party (LP), from proceeding with the party’s national convention scheduled to take place in Umuahia, Abia. Justice Inyang Ekwo, presiding over the case, emphasised the importance of due process, stating, “It is essential that Read More…
Black box recovered in Baltimore bridge tragedy as search for victims continues
The aftermath of the catastrophic collision that led to the collapse of the Francis Scott Key Bridge continues to unfold. U.S. federal safety investigators have retrieved the black box from the freight ship involved in the incident, according to the chief of the agency. “The data recorder is crucial for understanding the sequence of events Read More…
Catastrophic collision: Baltimore’s key bridge collapses after ship strike
In the early hours of Tuesday, a colossal container ship collided with the Francis Scott Key Bridge, causing a catastrophic collapse that sent vehicles and individuals plummeting into the Patapsco River below. The 948-foot Singapore-flagged vessel, identified as the Dali, struck the bridge, a vital artery for the Port of Baltimore, enveloping the area in Read More…
CBN’s MPC hikes monetary policy rate to 24.75% amid economic challenges
In a decisive move to address the economic challenges facing Nigeria, the Central Bank of Nigeria’s Monetary Policy Committee (MPC) has increased the Monetary Policy Rate (MPR) by 200 basis points, setting it at 24.75% from the previous 22.75%. The MPR, a critical financial tool, influences the rate at which banks lend to each other Read More…
Ali Baba decries killing of soldiers, calls for moral reawakening and constitutional reform
Renowned Nigerian comedian, Atunyota Akpobome, also known as Ali Baba, has voiced his strong condemnation of the recent killing of 17 Nigerian Army officers in Delta State, labelling the act as “highly abominable.” In a heartfelt interview with the News Agency of Nigeria (NAN) in Lagos, Akpobome expressed his dismay, stating, “The heinous murder of Read More…