Author: Ogochukwu Ndubuisi

Trump Says U.S. Supports UN 100% After Bashing Global Body U.S. President Donald Trump has declared that his country is behind the United Nations “100 per cent” after bashing the global body while delivering his statement at the UN headquarters. Trump made the declaration at the beginning of a bilateral meeting between him and UN Secretary-General António Guterres after presenting his national statement to world leaders in New York. Trump, while presenting the U.S. national statement, sharply criticised the organisation in its handling of conflicts, irregular migration and climate change, among others. The U.S. leader said in spite of his…

Cross-Border Collaboration Key to Unlock Africa’s Natural Resources- Okwuosa Dr Emeka Okwuosa, Chairman and Group CEO, Oilserv Group, has reiterated the need for cross-border collaboration and data accuracy as tools to unlocking Africa’s prosperity in natural resources. Okwuosa spoke at a Local Content Plenary Session, co-hosted by the Nigerian Content Development and Monitoring Board (NCDMB) and the Ghana Petroleum Commission, at the just concluded African Oil Week (AOW) in Accra, Ghana. The session has its theme as “Cross-border Projects and Knowledge Exchange.” Okwuosa, in a statement on Tuesday in Abuja, while emphasising on continental synergy, opted for visa restriction relaxation…

Zenith Bank Gains as Investors Queue for Interim Dividend Zenith Bank Plc saw a price uptick of 335 basis points as investors began to queue for interim dividend the board of directors declared for the first half of 2025 earnings period. In the stock market, Zenith Bank was the only tier-1 lender that recorded price appreciation as Central Bank of Nigeria (CBN) monetary easing sends negative signal about earnings outlook in the industry. In the first half, banks earnings came under intense regulatory pressures as FX gains declined sharply in contrast to previous period due to naira stability. Also, most…

Naira Gains as Rising External Reserves Fuel Market Confidence The naira rate improved in the Nigerian foreign exchange market as rising external reserves continue to fuelling confidence that era of sustained shortage may be over. A slew of analysts expressed view that the Apex Bank will maintain stance to defend the naira till the year close. The consistent increase in external reserves has also boosted market confidence in the absence of capital restrictions. The local currency market has continue to see both upswing and depreciation that align with daily FX demand versus the dollar volume available at the supply side.…

Natasha Akpoti-Uduaghan Enters NASS Complex, Rules Out Apology to Senate Sen. Natasha Akpoti-Uduaghan on Tuesday entered the National Assembly Complex, gaining access to her office after serving out her six months suspension. Speaking with journalists, Akpoti-Uduaghan said that she would not apologise to the Senate, claiming she had survived injustice. According to her, it will amount to injustice if she was not allowed to resume her legislative duties because the matter is pending in court. “I am still waiting for the letter because it is very important to understand the conditions that they might set illegally concerning this. “I read…

FG Seeks Fresh Investments in Oil, Gas Sector The Federal Government has reiterated its commitment to attracting more investments into Nigeria’s oil and gas sector to drive industrialisation and economic growth. This is contained in a statement issued by Mr Michael Adande, spokesperson of Renaissance Africa Energy Company Limited.on Tuesday in Abuja. According to the statement, Mrs Olu Verheijen,Special Adviser to the President on Energy, restated the commitment during a meeting with Mr Tony Attah, Manging Director of Renaissance Energy, in Abuja. She said the President Bola Tinubu administration was focussed on reforms that create an enabling environment for investors…

Uber Contributes N34bn to Nigeria’s Economy – Report A new report has revealed that ride hailing giant Uber contributed an estimated N34 billion to Nigeria’s economy in 2023. The findings of the Uber Nigeria Economic Impact Report, which was conducted by Public First, was inaugurated at the recent Lagos Road Mobility Summit. This was an event co-hosted by Uber and the Lagos State Ministry of Transport, which had the theme: “Reimagining an Inclusive Road Safety Strategy.” It brought together key stakeholders from government agencies along with global safety experts and private sector leaders. The report said that Uber provided significant…

GTCO’s Profit Falls by 50% in H1, Declares Interim Dividend Guaranty Trust Holding Company Plc (GTCO) profit fell by more than 50% in the first half of financial year 2025, its audited report submitted to the Nigerian Exchange (NGX) on Tuesday revealed. Details from the group’s audited earnings scorecard revealed that profit after tax declined by 50.4% year on year to N449.01 billion from N905.57 billion in the comparable period in 2024. The weak earnings performance was weighed down by the steep decline in non-interest income and higher operating costs, analysts said in a review note.  These undermined 31.5% year…

Naira Mixed as FX Inflows Jump, External Reserves Cross $42bn The naira traded on a mixed note at the Nigerian foreign exchange markets, reflecting a surge in demand for dollar at the official window while the unofficial rate rose. At the Nigerian Foreign Exchange Market (NFEM), the naira skidded off the rally track on Monday even with data showing FX inflows increased in the market. The Central Bank of Nigeria (CBN) updated FX data revealed that the official rate closed at N1,488.6017 per dollar at the official window. The spot rate touched an intraday high of N1,492 per dollar, while…

Nigerian Exchange Index Slides as Investors Lose N220bn The stock market opened the week with downbeat sentiment as the Nigerian Exchange (NGX) All-Share Index (ASI) nosedived by 0.24% to close at 141,498.22 points. Due to sell pressures, the year-to-date return moderated to 37.48%, while the total market capitalization fell by ₦219.63 billion to ₦89.52 trillion. The market’s weakness stemmed from selloffs in Nigerian Breweries (-7.64%), UBA (-2.71%), GTCO (-1.06%), OANDO (-5.76%), and FIRSTHOLDCO (-1.88%). The value lost to selloff on these top stocks outweighed gains in ZENITHBANK (+2.66%), INTBREW (+3.23%), ACCESSCORP (+0.77%), and JAIZBANK (+2.97%). Market sentiment was weak, reflected…