Author: Ogochukwu Ndubuisi

Ghana Inflation Rate Declines to 11.50% in August Ghana’s annual consumer inflation fell to 11.5% in August 2025, according to statistics office, a new low since October 2021, extending its downward trend for the eighth month. Food inflation declined to 14.8% in August from 15.1% a month earlier, while non-food price growth eased to 8.7% from 9.5%. On a monthly basis, the country’s consumer price index decreased by 1.3% in August, after a 0.7% rise in the previous month. Government statistician Alhassan Iddrisu told a press conference that both food and non-food prices eased last month. However, food prices remain…

Indian Industry Starts Facing Brunt of U.S. 50% Tariffs Several labour-intensive industries in India have begun to face the brunt as exports were drastically hit after U.S. 50 per cent tariffs, which came into effect a week ago, local media reports. The Trump administration had imposed 25 per cent additional tariffs on Indian goods after the South Asian nation chose to continue purchasing Russian oil, thus bringing the total levies to 50 per cent. According to the report, the labour-intensive industries believed to be majorly hit by the U.S. new tariffs were textiles, gems and jewelry, leather, marine products, and…

Africa now Global Epicentre of Terrorism – UN The United Nations (UN) has warned that Africa, especially West Africa and the Sahel, has overtaken the Middle East as the new hub of global terrorism, accounting for the highest fatalities and most terrorised countries in 2024. The UN Special Representative of the Secretary-General for West Africa and the Sahel, Leonardo Simão, raised the alarm on Wednesday in Abuja. Simao spoke at the opening of the Regional Conference on Combating Emerging Terrorist Groups and Strengthening Sustainable Security in the ECOWAS Region and the Sahel organised by the National Counter Terrorism Centre (NCTC).…

Burkina Faso Bans Homosexuality, Institutes Punishments Burkina Faso has passed a law banning homosexuality and instituting punishments of up to five years in jail, the latest in a clutch of African nations to pass anti-gay legislation. Homosexuality is illegal in around 30 African countries but was not banned in Burkina Faso before the military seized power three years ago. The draft law was unanimously adopted by 71 unelected members of a transitional parliament in place since two coups in 2022 in the West African nation. “The law provides for a prison sentence of between two and five years as well…

Oil Prices Retreat on Weak U.S. Demand Outlook Oil prices retreated on Wednesday as concerns over US demand weighed on the outlook for the world’s top consumer, while geopolitical and trade risks kept markets on edge ahead of an OPEC+ meeting. Brent Crude was trading at $68.63 per barrel, down 0.5% from the previous close of $68.97. US benchmark West Texas Intermediate (WTI) fell 0.5% to $64.98 from $65.34 in the prior session. US manufacturing activity continued to contract in August, with the ISM manufacturing PMI rising slightly to 48.7% from July, but remaining below the expected 49%, signaling ongoing…

Plateau Assembly Wants End to Mandatory Yearly Textbooks The Plateau State House of Assembly, presided over by its Speaker, Daniel Nanlong, has called for an end to the compulsory yearly purchase of new textbooks imposed on parents by many primary and secondary schools in the state. The lawmakers’ resolution followed a motion of urgent public importance moved by Mr Joseph Bukar (APC/Shendam), who moved a motion during plenary on Tuesday in Jos. Bukar told his colleagues the practice imposed by many schools was a ripping-off for many struggling families. He said that the imposition largely denied children of low-income parents…

Wike Slams N5m Fine, 7.5% Property Charge on Land Defaulters FCT Minister Nyesom Wike has approved and imposed a N5m fine, payable within a period of 30 days, for allottees and land title holders who have contravened the Land Use Act in the FCT. Wike gave the approval after receiving a report from the Committee set up to address the abuse of the Land Use Act in the FCT, in his office, on Tuesday. He also assented to a 7.5 per cent charge on the Assessed Capital Value of properties converted without the knowledge or express permission of the FCT…

Bayelsa Seeks Stake in $3.5bn Brass Fertiliser, Petrochemical Project The Bayelsa Government has solicited for equity stake in the Brass Fertiliser and Petrochemical Company project about to beging on the Brass Island in the state. Gov. Douye Diri made the request on Tuesday when the management team of the company paid him a courtesy visit in Yenagoa. The Bayelsa governor said the state’s position became necessary due to the negative fallouts in excluding oil producing states and local governments from the Petroleum Industry Act (PIA). He said that implementation of the PIA had been hampered in host communities due to…

Banking Index Slides as Tier-1 Banks Selloffs Persist The banking index slipped as sell pressures on tier -1 banks persisted, supported by latest profit taking activity in Wema Bank shares. Trading data from the Nigerian Exchange highlighted banking selloffs as drivers of negative performance posted on Tuesday, in additional to sell pressures on lightweight insurance companies. GTCO dominated market activity, leading the volumes and value chart with 32.61 million units worth N3.0 billion trading on the board today. Reflecting the broad-based weakness in investor sentiments, market breadth printed at 0.23x as the day’s session produced more losers (48) than gainers…

Tinubu’s Economic Strategy Pays Off as Nigeria Hits Revenue Target President Bola Tinubu has announced that Nigeria has achieved its 2025 revenue target ahead of schedule, with the country’s non-oil sector driving this success. Speaking at a meeting with founding members of the defunct Congress for Progressive Change (CPC) and The Buhari Organisation at the Presidential Villa in Abuja, Tinubu declared, “Nigeria is not borrowing. We have met our revenue target for the year, and we met it in August”. The President attributed the bulk of the revenue to non-oil earnings, emphasizing the significance of this development for long-term economic…