Investors at the Nigerian Stock Exchange (NSE) recorded N37 billion in the domestic equity market driven by sell-offs in Tier One banking stocks on Friday, 27 September, 2024 This comes as market capitalization at NGX opened at N56.615 trillion, shed N37 billion or 0.07 per cent to close at N56.578 trillion. Also, the All-Share Index (ASI) dropped by 0.07 per cent or 65 points, ending the day at 98,458.68 points, down from 98,523.56 points. Accordingly, the year-to-date return decreased by 31.68 percent. Sell pressure in Zenith Bank, FBN Holdings, and FCMB Group, alongside International Breweries, and Unilever, among others, dragged…
Author: Abimbola Ogunaike
The Naira gained at least N126.64 against the dollar at the official foreign exchange market in 48 hours. FMDQ data showed that between Thursday , 26 September, 2024, and Friday, 27 September, 2024 the Naira appreciated to N1540.78 per dollar on Friday from N1667.42 on Wednesday. This represents an N126.64 appreciation against the dollar between Thursday and Friday compared with the N1667.42 exchange rate on Wednesday. On a week-on-week basis, the Naira appreciated slightly compared to the N1541.52 exchange last week Friday at the official market. The gain means that the Naira responded positively at the official FX market to…
The Nigeria Extractive Industries Transparency Initiative (NEITI) has revealed that the federal government spent at least N15.57 trillion between 2006 and 2023 on the Petrol Motor Spirit(Petrol) subsidy. NEITI disclosed this recently during the unveiling of its 2022 and 2023 Independent Oil and Gas Industry Reports in Abuja. The report was unveiled by George Akume, Secretary to the Government of the Federation, Ola Olukoyede, the chairperson of the Economic and Financial Crimes Commission (EFCC) and other government officials on Thursday, 267 September, 2024. According to NEITI’s report, the year with the highest amount paid for fuel subsidy termed as under-recovery and…
The Lagos Lagoon Water Carnival; an initiative of Mic-Idols Concert, is scheduled to hold in December 2024 in Lagos and it will cost at least N2 billion, reports thegazellenews.com. CEO of Mic-Idols Concert, Mr Olumuyiwa Adesanya, who is the Initiator of the project, made this disclosure during the unveiling on Friday, 27 September, 2024 at the prestigious Watercress Hotel, Ikeja Lagos State. Speaking at the well attended media parley, Adesanya said the various activities will be put in place to make the event second to none, to enhance the socio-economic trade activities of Lagos State and showcase the beauty of…
Delta State Government, having mobilised contractors handling its various projects across the state, has called on them to ensure prompt and quality delivery. The State Commissioner for Works (Rural and Riverine Roads), Mr Charles Aniagwu, made the call on Friday, in Orerokpe, Okpe Local Government Area of the state while addressing journalists after inspecting projects in the area. The projects inspected included the newly awarded Benin Road, Old Amukpe Road with a spur to Ayemidejor Close in Sapele, the Oviri-Okpe – Orerokpe Road and Ezesi Road, Orerokpe. The Commissioner, who was in company of the Chief Press Secretary to the…
The Niger Delta Chambers of Commerce, Industry, Trade, Mines and Agriculture (NDDCITMA), a platform to enhance the growth of entrepreneurs in the Niger Delta region, has been formally flagged off by the Managing Director of the Niger Delta Development Commission (NDDC), Dr Samuel Ogbuku. Speaking during the Establishment Sensitization Programme of the Chambers of Commerce, in Port Harcourt, the NDDC Chief Executive Officer, said that the novel initiative would help to train youths and aspiring entrepreneurs, as well as support small and medium-scale enterprises. Ogbuku affirmed that the Commission was also partnering with the Bank of Industry by providing 30…
The Niger Delta Development Commission, NDDC, has concluded the training of 200 women and youths in Livestock Farming and Agro-Processing at the Okiemutie Farms in Eku Amukpe, Sapele Local Government Area of Delta State. Speaking during the closing ceremony of the training and empowerment programme, the NDDC Managing Director, Dr Samuel Ogbuku, said that the NDDC Board and Management realised the importance of agriculture as a diverse and relevant sector to address unemployment and poverty. Ogbuku, who was represented by the NDDC Director, Agric and Fisheries, Dr Winifred Madume, expressed delight that the programme was particularly inclusive of women, who…
Controversial Nigerian musician, Portable has told the embattled crossdresser, Bobrisky to bury the thought of killing himself, rather he rather beg for forgiveness and reconsider his lifestyle. Portable stated this after Bobrisky revealed that he was contemplating suicide following N15 million bribery allegation involving him and some Economic Financial Crimes Commission (EFCC) officers. Thegazellenews.com reports that popular social media critic, VeryDarkMan, in an Instagram post on Tuesday, 24 September, 2024 shared a leaked audio of the crossdresser narrating what transpired during his four-month jail term. Bobrisky further alleged that singer Falz contacted him about obtaining a presidential pardon for him through…
Popular American singer, Chris Brown has stated that he will never forget Nigerian colleague, Wizkid, for the rest of his life, just as he gave reasons for declaring him as his brother for life. Chris Brown in a post shared by luthortv tagged Wizkid his ‘brother for life’ as a result of his kind gesture to him in the past. Revealing his reasons, Chris Brown explained that he has been performing all his life around America but had not gone to the UK until Wizkid invited him to his O2 Arena concert in 2021. According to the rapper, Wizkid paid…
American wholesale corporation, Costco, had denied selling baby oil to embattled rapper and music executive, Sean Combs, aka Diddy. Recall that federal officers seized supplies that they say were intended for use in orgies known as “freak offs”, including drugs and more than 1,000 bottles of baby oil during the raiding of Diddy’s Beverly Hills mansion in March. In a new TMZ Studios documentary, ‘The Downfall of Diddy: The Indictment’, the rapper’s lawyer, Marc Agnifilo suggested he had 1,000 bottles of baby oil because he buys them in bulk from Costco. Reacting to Diddy’s lawyer’s claim, Costco said they don’t…