Author: Ogochukwu Ndubuisi

Agusto & Co. Assigns “A1” Ratings to Heirs Insurance Group Agusto & Co., Nigeria’s leading credit rating agency, has assigned strong ratings to the Life and General businesses of Nigeria’s fastest growing insurance group, Heirs Insurance Group. Heirs Life Assurance (HLA), the Group’s specialist life insurance business, was upgraded from “A-“ to “A” (long-term), with a short-term rating of “A1”. Heirs General Insurance (HGI), the group’s general insurance business, was rated “A-“ (long-term) and “A1” (short-term). Both businesses received a “Stable Outlook”, reflecting the Group’s financial strength, efficient claims management, and expanding market footprint, driven by customer-first innovations and digital capabilities.…

UN Ends Air Service in Nigeria Over Poor Funding The UN Humanitarian Air Service (UNHAS), has ended its fixed-wing air service in Nigeria due to  lack of funding. Stéphane Dujarric, Spokesperson for the Secretary-General, disclosed this during the noon press briefing at the UN Headquarters in New York. UNHAS, which is operated by the World Food Programme (WFP), had to end their fixed-wing air service in Nigeria last week due to a lack of funding. “For nine years, the service has transported humanitarian staff, medical supplies, and critical cargo to and from the epicentre of the crisis in Borno and…

Tinubu to Inaugurate 6,000mt Lithium Plant in Nasarawa ‎President Bola Tinubu is expected to inaugurate a brand-new 6,000-metric-ton lithium processing plant built by Chinese investors in Nasarawa State, Gov. Abdullahi Sule said. ‎Sule disclosed this after a closed-door meeting with President Tinubu on Wednesday at the Aso Rock Villa, Abuja. The facility, located in Nasarawa Local Government Area, is the second lithium plant in the state and twice the size of the 3,000MT plant inaugurated in 2023. While no specific date was provided, the governor said the visit would happen after the President’s return from his scheduled visit to France.…

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…