Author: Ogochukwu Ndubuisi

Ogun Partners Terra Kulture to Establish Film, Entertainment Village Ogun partners Terra Kulture to establish film, entertainment village. The Ogun Governor, Dapo Abiodun, has said the state will collaborate with Terra Kulture to establish a film and entertainment village in the state. Abiodun said this when he received the Chief Executive Officer (CEO) of Terra Kulture, Bolanle Austen- Peters, in Abeokuta, on Saturday. He stated that the Ogun would be more than happy to invest in the project. According to the governor, the film village will help the state to preserve the legacies of its pioneers, who excelled in the…

Anambra 2025: Soludo Wins APGA Governorship Ticket Gov. Chukwuma Soludo on Saturday won the All Progressives Grand Alliance (APGA) governorship primary in Anambra. Soludo was declared winner at the primary held at Dr Alex Ekwueme Square, Awka, amidst tight security and under the watch of the officials of Independent National Electoral Commission (INEC). The governor, who vying for a second term, polled 3,171 votes from the 3,175 accredited delegates across the 326 political wards on the state.He was confirmed with a ‘yes’ or ‘no’ vote in the primary election. While presenting the party’s nomination certificate to the governor, Chairman of…

Money Market Rates Decline as Liquidity Surplus Hits N1.53trn Money market rates dipped further as liquidity balance in the financial system soared above N1.5 trillion. The liquidity level stay strong in the absence of outflows as neither Debt Management Office, nor the Central Bank of Nigeria auctioned borrowing instruments in the week. With the absence of outflows relation to cash reserve maintenance, and primary market activities, deposit money banks were excused from significant demand for liquidity to fund their respective operations. The kept money market liquidity in net long positions in the last two days. Consequently, the short term benchmark…

Petition for Akpoti-Uduaghan’s Recall Fails Required Signatures – INEC Independent National Electoral Commission (INEC) says the petition to recall Natasha Akpoti-Uduaghan from the Senate has failed to meet the number of signatures required to implement the action. The commission stated this in a statement issued by Sam Olumekun, its National Commissioner and Chairman, Information and Voter Education Committee, on Thursday in Abuja. Olumekun said that the number of ascertained 208,132 signatures/thumbprints from the submitted petition fell short of the 50 per cent plus one (at least 237,278 voters) signatures in the constituency constitutionally required to commence recall action. He said…

Nigerian Stocks Value Falls by N30bn Amidst Delisting The market value of all listed stocks in Nigerian market declined by N30.44 billion as regulator delisted of some inactive companies from the Exchange on Thursday. The Nigerian Exchange (NGX) key performance indicators showed mixed performance- the All-share index declined marginally by 0.02%, while equities market capitalisation fell by 0.05%. The contrasting movement in these indicators was influenced by the Nigerian Exchange decision to delist Capital Oil Plc, Goldlink Insurance Plc, and Medview Airline Plc”, from trading platform. Trading data revealed that the market index fell 21.90 basis points in today’s trading…

Impact of U.S. Trade War on Nigeria Likely Limited An economist, Dr Muda Yusuf, has said that the impact of the current trade war by U.S. President Donald Trump on Nigeria’s economy is likely to be limited. Yusuf said on Thursday in Lagos that the impact could be limited because Nigeria’s external trade to the U.S. averaged about 10 per cent. According to him, in 2024, Nigeria’s total merchandise export was valued at 50.4 billion dollars and Nigeria exports to the U.S. the same year was worth  5.7 billion dollars (11.3 per cent). He noted that Nigeria’s major export to…

ISA will Stimulate Economic Growth – SEC The Securities and Exchange Commission (SEC) says the Investments and Securities Act (ISA) 2025 will be a game changer in the nation’s capital market with the potential to stimulate economic growth. The Director-General of SEC, Dr Emomotimi Agama, said this in a statement made available to the News men on Thursday in Abuja. Agama said the new law would provide the commission with the opportunity to retain its signatory A status with the International Organisation of Securities Commission. Agama described the law as significant which would allow other countries to benchmark the Nigerian…

EU to Diversify Defence Industry After U.S. Tariffs EU foreign policy chief Kaja Kallas on Thursday called for less reliance on the U.S. for defence procurement following announcement of sweeping punitive tariffs by U.S. President Donald Trump. Trump had on Wednesday announced blanket tariffs of at least 10 per cent on all goods imported into the U.S. and higher levies for some countries. The EU faces tolls of 20 per cent on its goods. Asked on the sidelines of an informal meeting of EU defence ministers in Warsaw whether a trade war with the U.S. would affect defence cooperation, Kallas…

Rivers State Cancels all Pending Procurement, Tender Processes The Rivers State Government has on Thursday cancelled all pending procurement and tender processes in compliance with the Supreme Court judgement. The Sole Administrator, Vice Admiral (Rtd) Ibok-Ete Ibas, made the remark in a special announcement, signed and issued by Prof Ibibia Worika, the Secretary to the State Government (SSG) in Port Harcourt. He said that the cancellation was in adherence to the Supreme Court judgement which upheld the Appeal Court ruling in Suit No. CA/ABJ/CV/133/2024. Ibas stated that the cancellation affected all procurement and tender processes carried out by MDAs during…

Gold Hits New All-Time High amid Tariff Policy Shock Gold prices have just set a new all-time high at $3,167/oz, currently holding steady around $3,148/oz, as global financial markets absorb a major policy shock from the United States. The primary driver behind gold’s sharp rally stems from the Trump administration’s official activation of additional tariffs on a wide range of imported goods from major economies, including China, India, Vietnam, Brazil, and several European countries. This move is widely seen as the beginning of a new phase of global trade restructuring — a development that has made investors across the world…