The Financial Derivatives Company Limited has disclosed that the economic cost of the #EndSARS protest disruption is estimated at N1.5tn, approximately 1.03 per cent of the GDP and 11.47 per cent of the 2021 budget. The FDC which projected headline inflation to rise to 14.5 per cent in October from 13.71 per cent in September, said the protests magnified existing output…
The former Minister of Finance in Nigeria, Ngozi Okonjo-Iweala, has emerged as the new Director General of the World Trade Organization. She is the first female and first African Director-General of the WTO. In a keenly contested election, Okonjo-Iweala beat her rival, South Korean Yoo Myung hee, with a wide margin. She polled 104 votes from 164 member countries…
The Tung Family, owners of Western Metal Products Company (WEMPCO) Group and Lagos Oriental Hotel have denied claims that Lagos Oriental Hotel belongs to former Lagos State governor, Bola Ahmed Tinubu. The denial came after an attack on the Lagos Oriental Hotel, during which armed hoodlums with guns, knives and bottles, forced their way in, assaulted…
The Federal Government has extended the suspension of the new electricity tariff by one week. Recall that the new tariff was earlier suspended for two weeks which ended at midnight on October 11, following an agreement the FG reached with organized labour. Prof. James Momoh, Chairman of Nigeria Electricity Regulatory Commission (NERC) who made announcement of the extension at a…
Kanye West has stated that he now has a net worth of $5 billion after falling “$53 million in debt” The rapper, 43, took to Twitter on Thursday October 8, to celebrate his finances after Ok! Magazine published an article that claimed his net worth is $5 billion. Reacting on Twitter, he wrote: “From $53 million in debt…
Nigeria Labour Congress, NLC, has suspended its planned nationwide strike that was scheduled to start today, Monday, September 28, in protest against the hike in the price of fuel and electricity tariff. The strike was suspended after reaching a consensus with the Federal Government early Monday morning at a meeting between both parties. The government, in a…
The National Industrial Court today September 24, issued an interim injunction restraining members of the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) from embarking on any strike or stoppage of work from Monday, September 28 2020. The organized labor had proposed to go on an indefinite strike beginning from Monday next week to demand the immediate reversal…
An 86-year-old man identified as Elder Okoro hawks mothballs popularly called (camphor ball) in Benin, Edo State. Speaking to a Facebook user Kola Edokpayi, on Friday September 18, the octogenerian said he makes the sum of #6,000 fortnighly from the sale. “Elder Okoro, 86 years old man happily hawking mothballs popularly called (camphor ball) in Benin. According to…
The Nigeria Labour Congress, NLC, has issued a two-week ultimatum to the federal government to reverse the recent hike in electricity tariff and the pump price of petrol or face a nationwide strike. The Labour Congress issued the ultimatum after its Central Working Committee meeting which held for several hours in Abuja today September 16.…
Oyo State Government through the Ministry of Youth and Sports organises A Day Training for Youths in Ibarapa ZoneEarly this year, the Nigerian Export Promotion Council held a stakeholders meeting in Abuja where States were encouraged to key into the new idea of introducing the Youth to Non-Oil Export Business, promote the initiative and replicate…