Author: Ogochukwu Ndubuisi

Ending Hunger by 2030 Will Cost $93bn Annually – WFP The UN World Food Programme (WFP) has said ending hunger by 2030 would cost just $93 billion a year—less than one per cent of the $21.9 trillion spent on military budgets over the past decade. By 2026 a staggering 318 million people would face crisis levels of hunger or worse, more than double the figure recorded in 2019, the food agency reported in its 2026 Global Outlook. International support for the world’s hungriest people is “slow, fragmented, and Underfunded,” meaning that many living in the world’s trouble spots will likely…

Alleged Acquisition: Zenith Bank Drops Hint on Regional Expansion Zenith Bank Plc says the financial services company is exploring regional expansion opportunities as part of its long-term strategic growth agenda.  The bank said this in reaction to the alleged acquisition of Paramount Bank in Kenya as part of an expansion into the East African market. Some media outlets in Kenya reported that definitive decisions on the acquisition have been taken and that a transaction is currently underway. “The Bank wishes to formally notify the Nigerian Exchange Limited (NGX), our esteemed shareholders, investors, and the general public that the information currently…

PDP Crisis Deepens as Wike-Backed Faction Expels Makinde, Turaki, Others The factional National Executive Committee (NEC) of the Peoples Democratic Party (PDP) led by Alhaji Abdulrahman Mohammed, has purportedly expelled governors Seyi Makinde of Oyo, Bala Mohammed of Bauchi and Dauda Lawal of Zamfara from the party. The faction also expelled the the party’s new National Chairman, Sen. Tanimu Turaki, Board of Trustees Chairman, Sen. Adolphus Wabara and Deputy National Chairman (South), Taofeek Arapaja. Also expelled, according to the group, are the Chairman, Caretaker Committee for South-South, Emmanuel Ogidi and others for alleged anti Party activities. Attempts by the Makinde…

Nigerian Exchange Drops N110bn as Investors Sentiment Deteriorates The Nigerian Exchange (NGX) slumped by more than N110 billion as investors’ sentiment continues to deteriorate, with year-to-date return moderated to 40.86%. The all-share index retreated further, with pressures building across key sectoral indexes. The retreat signifies cautious trading by market participants, especially as they continue to digest the long-term effects of the new capital gains tax despite clarifications by the policymakers. The downbeat sentiment haunted top-listed companies in the financial sector, among others. Specifically, the market index, or All-Share Index, fell by 173.26 basis points to close at 144,986.51, while market…

Bitcoin’s $1 Trillion Shakeout Is ‘Leverage’: deVere CEO Bitcoin has erased more than a trillion dollars’ worth of crypto market value in six weeks, forcing the market to confront how much borrowed money had been propping up positions across the sector. This is the analysis of Nigel Green, CEO of one of the world’s largest independent financial advisory organisations, as global stocks and risk-on assets extend losses. In this context, ‘leverage’ means some traders had been using borrowed funds to boost the size of their positions. When prices fell, those positions were automatically closed by exchanges, creating forced selling that…

Wike-Led Faction Takes Over PDP National Secretariat The Peoples Democratic Party (PDP) faction loyal to the Minister of Federal Capital Territory (FCT), Nyesom Wike, has taken over the party’s national secretariat, Wadata Plaza, Abuja. The take-over of the party’s secretariat was ahead of the parallel meeting reportedly scheduled for the same venue by the faction that held its national convention in Ibadan at the weekend. The Taminu Turaki-led National Working Committee (NWC) elected at Ibadan controversial national convention had scheduled its inaugural meeting with party stakeholders at 10 a.m. at the PDP national secretariat. Also the Abdulrahman-led faction of NWC…

ASUU Warns of Nationwide Varsity Shutdown as Negotiation Stalls The Academic Staff Union of Universities (ASUU) has warned that it will resume its nationwide strike if agreement was not reached with the Federal Government at the expiration of its one month ultimatum. ASUU, Kano Zonal Coordinator, Abdulkadir Muhammad, gave the warning on Tuesday in Kano during a news conference after the zone`s meeting. The lecturers in October suspended their warning strike with a month-long ultimatum to the Federal Government to meet its demands which centred around their welfare and providing conducive teaching and learning environment. Muhammad decried what he described…

China Disproves U.S. Ambassador to Japan’s Remarks Chinese foreign ministry spokesperson Mao Ning on Tuesday disproved remarks made by U.S. ambassador to Japan George Glass on the social media platform X, calling them a purely political stunt. Glass’s remarks related to China are inconsistent with the role and duties of a diplomat, Mao told a daily news briefing. The U.S.-Japan alliance is a product of the Cold War and should not be directed against any third party, nor should it arbitrarily interfere in the internal affairs of other countries or harm their core interests, she added.#China Disproves U.S. Ambassador to…

We’ve Grown Nigeria’s Digital Broadcast Subsector By 35%–NIGCOMSAT The Nigerian Communications Satellite (NIGCOMSAT) Ltd says the country’s digital broadcast subsector has expanded by 35 per cent to 75 per cent utilisation in two years. It said this represented a milestone in the country’s digital transformation drive. The Managing Director of NIGCOMSAT, Mrs Jane Egerton-Idehen, said this on Monday in Abuja at a retreat with the theme: ‘Aligning for the Future: Innovation, Collaboration, and Sustainable Growth.’ According to her the theme reflects NIGCOMSAT’s commitment to driving Nigeria’s digital transformation and positioning itself as a global satellite industry leader. She said one…

Ukraine’s Zelensky Signs Deal to Buy 100 French Fighter Jets Ukrainian President Volodymyr Zelensky on Monday signed an agreement to buy dozens of Rafale fighter jets from France. The memorandum of understanding, co-signed by French President Emmanuel Macron, covers the purchase of up to 100 aircraft, according to the Élysée Palace. The SAMP/T air defence system is also said to be included in the agreement. Macron wrote on X about a “great day.” Zelensky is currently in France on his ninth visit since the start of Russia’s full-scale invasion in February 2022. In late October, Zelensky signed a similar memorandum…