Browsing: Business

#EndSARS protest disruption costs economy N1.5tn – FDC

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…

Ngozi Okonjo-Iweala emerges Director General, World Trade Organization

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…

FG extends suspension of new electricity tariff by one week

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 celebrates as he claims he now has a net worth of $5billion after falling ‘$53 million in debt’

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…

Court stops NLC and TUC from embarking on a strike over fuel and electricity hike

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…

Meet 86-year-old man who hawks camphor balls in Edo; says he makes N6000 every two weeks

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…