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The Nigerian Stock Exchange (NSE) experienced a positive shift in sentiment as market capitalization rose by N86 billion. The market capitalization reached N35.881 trillion, marking a 0.24% increase from the previous day. The All-Share Index (ASI) also saw a gain of 157.09 points, settling at 65,558.91 points. This article provides an overview of the market's performance, top gainers and decliners, trading activity, and notable stocks.
Forty-nine women who were abducted by Boko Haram in Nigeria's northeastern Borno state have been released after a state official paid a ransom to secure their freedom. The women, who were mostly poor peasant farmers, were kidnapped from their farms and held captive until their families met the militants' demands. This incident highlights the ongoing security challenges faced by the region and the impact it has on farmers and food prices for the already struggling country.
Salem Saeed Al Shamsi presented his credentials as the UAE Ambassador to Nigeria in a ceremony held in Abuja. President Tinubu expressed his wishes for further growth and prosperity for the UAE, highlighting his country's readiness to support the Ambassador. Both sides discussed enhancing cooperation and reiterated their commitment to strengthen bilateral ties.
Nigeria's unemployment rate has dropped to a record low of 4.1% in the first quarter, according to the National Bureau of Statistics. The revised methodology now defines employed persons as those in paid jobs, and considers underemployment as working less than 40 hours a week. Despite the positive news, the majority of employed Nigerians are still in the informal sector.
The Court of Appeal in Abuja has dismissed an interlocutory application filed by Governor Abba Kabir Yusuf of Kano State. The application sought to set aside the ruling of the Kano State Elections Petitions Tribunal. The court labeled Governor Yusuf's appeal as frivolous and vexatious, deserving the penalty of dismissal.
The National Palm Produce Association of Nigeria (NPPAN) has highlighted the untapped potential of the oil palm industry in Africa. The NPPAN President called for investment and improved governance to stimulate growth in the sector. With countries like China, India, and European nations importing palm oil, there is a huge market opportunity for African producers. The article emphasizes the need for technology sharing and capacity building to tap into the global demand for palm oil. The NPPAN also urged the Nigerian government to establish a National Oil Palm Development Council and policy.
The National Assembly Elections Petition in Lagos has nullified the victory of Seyi Sowunmi, the candidate of the Labour Party, in the February 25 National Assembly election. Read on to find out more about the tribunal's decision and its impact on the Ojo Federal Constituency election.
President Bola Ahmed Tinubu and Minister Nyesom Wike held a closed-door meeting at the Presidential Villa in Abuja. The meeting is believed to be related to the recent building collapse in the city. The article explores the possible agenda of the meeting and highlights the controversial choice of automobile by Minister Wike.
President Bola Ahmed Tinubu is facing intense pressure to intervene in the political crisis in Niger, but he is holding back in hopes of a peaceful resolution. As the Chairman of ECOWAS, Tinubu is playing a key role in facilitating dialogue between the Niger junta and Islamic leaders. He emphasized the need for swifter progress in these discussions. While other countries are ready to intervene militarily, Tinubu is leading a diplomatic approach. He called for the junta to be held accountable for the crisis and pledged ECOWAS' commitment to finding a peaceful solution.
The Minister of the Federal Capital Territory (FCT), Nyesom Wike, recently announced his plans to restore the Abuja Master Plan and revitalize the city's infrastructure. This bold vision aims to address the challenges posed by rapid urbanization, unauthorized construction, and land speculation. While some applaud this initiative, others question its effectiveness and emphasize the need for a comprehensive approach that involves strengthening regulations, investing in infrastructure, and engaging the community in urban planning decisions.
The Niger Delta Development Commission (NDDC) has refuted claims that it is owing contract security workers in Delta State and Rivers State. The NDDC stated that it has paid the security companies up until July 2023 and there is no basis for owing salaries. The Director of Corporate Affairs reassured the security workers that their salaries were not diverted and urged them to disregard the media reports.
The owner of a two-storey building in Abuja has been arrested following the collapse of the structure. Two people lost their lives, and 37 others were taken to the hospital. The FCT Minister, Mr Nyesom Wike, visited the scene and ordered the arrest of the building owner. He also directed the payment of medical bills for those affected. The Department of Development Control has been tasked with resettling the community and ensuring such incidents are prevented in the future.
The Minister of the Federal Capital Territory (FCT), Mr. Nyesom Wike, has ordered the arrest of the owner of a two-storey building that collapsed in Abuja. The incident resulted in the loss of two lives and the hospitalization of 37 others. The FCT Emergency Management Agency (FEMA) has confirmed the situation and stated that efforts are ongoing to rescue anyone trapped under the rubble. Mr. Wike has also instructed the payment of the medical bills for those injured and called for the immediate resettlement of affected residents. This unfortunate incident highlights the need for proper adherence to building standards and planning to prevent such disasters.
A new twist has emerged in the governorship Election Petition Tribunal sitting in Lafia, Nasarawa State, as another witness for the All Progressives Congress (APC) contradicted the earlier testimony of their star witness. The witness claimed that APC votes were not reduced, but rather, the votes of the People's Democratic Party (PDP) were increased. The witness's claims have raised further doubts about the credibility of the election results.
The Minister of the Federal Capital Territory (FCT), Mr Nyesom Wike, has pledged to finish the construction of vital roads and renovation projects in Abuja. He assured that the B6 and B12 roads, linking Constitution Avenue to City Gate, as well as the Federal Secretariat, will be completed within the next seven to eight months. Wike also mentioned plans to seek assistance from President Bola Tinubu for any projects the ministry cannot deliver. This article discusses the minister's commitments and highlights the significance of these infrastructure projects for the capital city.
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