Author: Akintayo Adams

The Nigerian Exchange Limited (NGX) maintained its bullish trend on Wednesday as market capitalization gained N183 billion. The NGX market capitalization, which opened at N59.532 trillion, gained N184 billion, or 0.31 per cent, to close at N59.715 trillion. The All-Share Index also added 0.31 per cent, or 303 points, to settle at 98,509.68, against 98,206.97 recorded on Tuesday. To this end, the Year-To-Date (YTD) return increased to 31.74 per cent. Gains in Aradel Holdings, Zenith Bank, United Bank for Africa (UBA), Oando Plc, Nigerian Breweries, and other equities drove the market performance up. Market breadth closed positive with 34 gainers…

The leader of the United Kingdom’s Conservative Party, Kemi Badenoch, has responded to criticism from Nigeria’s Vice President, Kashim Shettima, asserting that she stands by her remarks about Nigeria despite accusations of denigrating the country. Badenoch, who was born in the UK in 1980 to Nigerian Yoruba parents, has described her upbringing in Nigeria as being overshadowed by fear and insecurity in a country plagued by corruption. She married Scottish banker Hamish Badenoch and took his surname. Before her election as leader of the Conservative Party, Badenoch described Nigeria as a socialist nation brimming with thieving politicians and insecurity. “This…

The United States Embassy in Nigeria has announced changes to its immigrant visa process, set to take effect on January 1, 2025. In a statement shared on its official X page on Tuesday, the embassy revealed that applicants with scheduled interviews will now be required to visit the Consulate General in Lagos twice during the visa process. The announcement read, “For applicants with interviews scheduled after January 1, 2025, you are required to visit the Consulate General in Lagos at least twice during the immigrant visa process. “This new process is designed to help you prepare for your visa interview…

President-elect Donald Trump has announced the nomination of Kimberly Guilfoyle, a former Fox News host and fiancée of his eldest son, Donald Trump Jr., as the next United States ambassador to Greece. Related || Trump appoints in-law as Senior Adviser In a statement late Tuesday, Trump described Guilfoyle as a close friend and ally of many years. He said, “For many years, Kimberly has been a close friend and ally. Kimberly is perfectly suited to foster strong bilateral relations with Greece, advancing our interests on issues ranging from defense cooperation to trade and economic innovation.” Guilfoyle, who became engaged to…

Nigeria has retained its position as Africa’s largest oil producer, according to the latest report from the Organisation of the Petroleum Exporting Countries (OPEC). In November 2024, Nigeria’s oil output increased to 1.48 million barrels per day (bpd), up from 1.33 million bpd in the previous month. This increase solidified Nigeria’s position as the continent’s leading oil producer, surpassing Algeria, which produced 908,000 bpd, and Congo, with an output of 268,000 bpd. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) also reported that Nigeria’s crude oil production increased to 1.69 million bpd in November from 1.53 million bpd in October. OPEC’s…

Nigerian musician Shallipopi has called out Dapper Music over alleged financial exploitation, weeks after announcing his exit from the label. Shallipopi parted ways from the record label in November 2024. In a statement released on Wednesday, Shallipopi accused the label of breach of trust and mishandling of his finances. He wrote: “I am officially ending my agreement with Dapper Music and Dvpper Digital. This was not a choice I made lightly, but a step I had to take after my trust was broken, my finances mishandled, and my rights were disregarded as an artist. “This is bigger than just me.…

In a landmark move for regional energy integration, Dangote Refinery and Neptune Oil jointly announced the first-ever export of Premium Motor Spirit (PMS) from Dangote Refinery, Africa’s largest oil refinery, to Cameroon. The 650,000 barrels per day refinery disclosed this in a statement on Wednesday. Dangote Refinery said that the feat is the result of a strategic collaboration between the two companies, underscoring their commitment to strengthening economic ties between Nigeria and Cameroon while meeting the region’s growing energy demands. Reacting to the announcement, Aliko Dangote, President and CEO of the Dangote Group, noted that the export of PMS to…

The Nigerian Naira witnessed a notable depreciation yesterday, driven by heightened demand for dollars among importers and individuals traveling for tourism, health, and other purposes. The local currency faced sharp declines in both the parallel and official markets. In the parallel market, the Naira fell from ₦1,585 per dollar on Tuesday to ₦1,600 per dollar. Similarly, in the official market, the currency depreciated from ₦1,525 per dollar on Tuesday to ₦1,545 per dollar. Economic analysts attribute this depreciation to several factors, including increased dollar demand and speculative activities. The situation raises concerns about the potential impact on inflation and the…

The Gateway International Agro-Cargo Airport in Ogun State has been approved for commercial operations. The Nigerian Civil Aviation Authority (NCAA), Nigerian Airspace Management Agency (NAMA), and Nigerian Meteorological Agency (NiMet) certified the airport after a thorough inspection. The inspection team praised the airport’s state-of-the-art infrastructure, describing it as “world-class” and a “source of pride for Ogun State”. The airport, located along the Ilisan-Iperu axis, boasts critical facilities such as a control tower, weather monitoring systems, runway, fire service stations, and apron, all meeting international standards. Governor Dapo Abiodun’s administration has been commended for the quality of work executed, with the…

Shooting Stars FC has declared two players, Victor Ehibe and Abubakar Adeyemi, Absent Without Official Leave (AWOL). The club’s media officer, Tosin Omojola, released a statement informing the public about their sudden disappearance. Victor Ehibe reportedly left the club’s camp, taking all his belongings without any official notice. Abubakar Adeyemi has not shown up for training for some time. The club has warned other clubs against dealing with these players, as they still hold ownership rights over them based on their existing contracts. Get instant and latest news updates via Our WhatsApp Community, X/Twitter or Google News online channel.