Author: Akintayo Adams

Nigeria has seen a growing trend of companies exiting or downsizing due to economic instability, currency fluctuations, and high operational costs. South African retailer Pick n Pay is the latest to announce its departure, planning to sell its 51% stake in a joint venture with A.G. Leventis (Nigeria). Pick n Pay’s exit reflects the challenges faced by businesses in Nigeria’s competitive retail market, as economic pressures, currency instability, and regulatory issues hinder investment viability. This trend underscores the difficulties for companies trying to maintain profitability in Nigeria’s fluctuating economy. Below is a year-by-year breakdown of companies that exited the Nigerian…

South African retailer Pick n Pay announced plans to exit Nigeria, selling its 51% share in a joint venture with A.G. Leventis (Nigeria). L This decision is part of a broader strategy to consolidate operations outside its home market. Pick n Pay, which entered Nigeria fewer than five years ago and operates two stores there, joins a growing list of international companies leaving the country due to increasing challenges to business operations. Get instant and latest news updates via Our WhatsApp Community, X/Twitter or Google News online channel.

The 36 states of the federation, including the Federal Capital Territory (FCT) recorded ₦2.43tn in internally generated revenue (IGR) in 2023. This was in the National Bureau of Statistics (NBS) latest report released on Monday. The report said the IGR recorded in 2023, is higher by 26.5 per cent to the ₦1.92tn IGR recorded in 2022. The Internally Generated Revenue (IGR) for Nigerian states in 2023 mainly came from taxes and revenue from ministries, departments, and agencies (MDAs). Lagos led with the highest IGR, generating ₦815.86 billion, which was 25% higher than in 2022. Rivers and the Federal Capital Territory…

Ratan Tata, the late Indian billionaire, reportedly named his dog Tito as a beneficiary in his Rs 10,000 crore will. Tata, who passed away at 86 on October 9, arranged for Tito’s care under the supervision of his trusted cook, Rajan Shaw. This unique provision highlights Tata’s deep affection for his dog, whom he adopted about six years ago. Tata’s will includes provisions to ensure Tito’s care for life, managed by Tata’s trusted cook, Rajan Shaw. However, the bulk of Tata’s fortune will benefit the Ratan Tata Endowment Foundation, founded in 2022 to carry forward his philanthropic mission. This foundation…

Football Legend and former Netherlands midfielder, Clarence Seedorf, has hinted that problems between UEFA and Real Madrid led to Vinicius Junior missing out on the 2024 Ballon d’Or award. Vinicius Jr. was initially favored to win the Ballon d’Or, but Real Madrid reportedly canceled his flight to the ceremony after learning that he wouldn’t take the award. Instead, Manchester City’s Rodri was ultimately named the world’s best player. But speaking at the event, Seedorf said: “Vini Jr. deserves to keep this award. “I think problems between Real Madrid and UEFA should be kept separated from an award the player deserves.…

Popular Nollywood actress, Regina Daniels, has disclosed that she met her husband during an outing with one of her ex-boyfriends. She disclosed this during a live on Instagram. The actress said: “I went to visit my boyfriend and I was so angry about why we had to go sightseeing, but when we got there I met a cute man. “The moral of the story is that your boyfriend should not stop you from seeing your husband. “When I started with my husband I forgot I was to have boyfriends; of course, I had like 20. When people think I don’t…

Manchester City midfielder, Rodri, is now expected to be announced as the 2024 Ballon d’Or winner on Monday night. According to The Athletic, Manchester City’s Rodri is set to win an award over Real Madrid’s Vinicius Junior. Real Madrid reportedly learned of this decision recently and are reportedly unhappy with the organizers. Real Madrid is reportedly frustrated with the Ballon d’Or organizers, feeling their players are not receiving due recognition. They argue that the award’s criteria are inconsistent, suggesting that if Vinicius Junior isn’t considered, then Dani Carvajal should be in contention. Get instant and latest news updates via Our WhatsApp…

Real Madrid will not send Vinicius Junior or anyone to the Ballon d’Or event tonight. This was revealed by famed football transfer expert, Fabrizio Romano. Romano wrote on his X account: “BREAKING: Vinicius Jr will NOT travel to Paris as Real Madrid know he will NOT win the Ballon d’Or. “No one from Real Madrid will attend the ceremony. “No Florentino Pérez, no Vini Jr, no Carlo Ancelotti, no Jude Bellingham.” Get instant and latest news updates via Our WhatsApp Community, X/Twitter or Google News online channel.

The Federal Capital Territory (FCT) Police Command on Monday said it has arrested a lawmaker for assaulting a driver in the nation’s capital. The arrest was confirmed by Josephine Adeh, the spokesperson for the Abuja Command, who said Ikwechegh is “at the Maitama Police Station undergoing questioning”. According to her, the cab driver, Stephen Abuwatseya, reported the matter to the Command. “Preliminary investigations indicate that Mr. Abuwatseya was delivering a package to Hon. Ikwegh when a dispute arose concerning the method of delivery. During this altercation, Mr. Abuwatseya was reportedly physically assaulted. “The FCT Police Command expresses grave concern over…

Cab driver Stephen Abuwatseya claims that Alex Ikwechegh, a House of Representatives member, assaulted him at his home and then forced him to the police station. According to reports, Ikwechegh allegedly threatened to make the driver “disappear” and even considered locking him up in a generator house. Speaking with VeryDarkMan on Monday, the driver said Ikwechegh called Police officers who bundled him to their station. “After the video he called some Police officers, I don’t know the division they are assigned to, they bundled me to the station. “They didn’t allow me to take my calls,” the driver said. He…