Author: Ogochukwu Ndubuisi

FG to Construct 10,000 Housing Units for Medical Workers Nationwide The Federal Ministry of Housing and Urban Development has announced plans to construct 10,000 housing units under the Renewed Hope Medic Cities initiative to address the housing needs of medical workers nationwide. The Minister of Housing and Urban Development, Ahmed Dangiwa, made this announcement in a statement on Friday, signed by the Director of Press and Public Relations, Salisu Haiba. The Renewed Hope Medic Cities project is designed to provide decent and affordable housing for the country’s medical workers. Dangiwa, during a meeting with the leadership of the Nigerian Association…

Oyo Signs Contract Agreement on 68km Rural Road Projects The Oyo State Government has signed an agreement with contractors for the execution of 68-kilometre rural access road projects under the Rural Access and Agricultural Marketing Project (RAAMP). The state Commissioner for Agriculture and Rural Development, Mr Olasunkanmi Olaleye, signed Phase I of the contract agreement with the contractors on Friday in Ibadan. In his address, Olaleye explained that signing the RAAMP interventions comprised a backlog of maintenance/rehabilitation and cross-drainage structures. According to him, RAAMP is a major rural transport intervention project funded by the Federal Government and development partners like…

Wema Bank to Raise Additional N200bn in Fresh Capital Wema Bank Plc.’s chief executive officer and management, Moruf Oseni, has disclosed the bank’s plan to raise N200 billion in fresh capital to complete its capitalisation exercise. Oseni, who made this known in a statement in Lagos, said that the fresh capital would be raised through a combination of a rights issue and special placement. He said that the two would start on April 1 and would mark the second and final tranche of the bank’s capital raise exercise. According to him, this will be supplementing the N40 billion raised in…

UAE Hydrocarbon Revenue, Fiscal Surplus to Moderate -IMF The United Arab Emirates, UAE, hydrocarbon revenue has been forecasted to decline amidst volatile oil prices in the global commodity market, the International Monetary Fund said after a visit in January. In an official statement, IMF noted that UAE’s strong economic growth continues, underpinned by robust domestic activity but fiscal surplus is expected to moderate. Although the outlook is subject to heightened global uncertainty, ongoing reform efforts are expected to support medium-term growth and energy transition, a staff team led by Mr. Ali Al-Eyd said. “Near-term growth is strong and expected to…

AU Commission Decries U.S. Withdrawal from WHO Moussa Faki, Chairperson of the African Union Commission (AUC) has expressed dismay over announcement by the U.S. to withdraw from the World Health Organisation (WHO). The U.S. President, Donald Trump, had earlier on Monday announced that U.S. government will withdraw from the global health body, citing WHO’s mishandling of the COVID-19 outbreak from Wuhan, China and other health crisis. Faki, the Chief Executive Officer, legal representative of the AU and the Commission’s Chief Accounting Officer, made this known in a statement by the mission on Thursday via its website. Faki said, “The U.S.…

Nigeria Showcases Sustainable Growth Strategy for Inclusive Development The Federal Government has showcased sustainable growth strategy for inclusive development at the 2025 World Economic Forum in Davos, Switzerland. Mr Mohammed Manga, the Director of Information and Public Relations at the Ministry of Finance, made this known in a statement issued in Abuja on Thursday. He stated that the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, had expressed optimism about Nigeria’s economic trajectory. He quoted the minister as saying “the country’s economic policies are yielding tangible results with an increase in domestic refining capacity, stable exchange…

Enugu to Establish 340 Green House Technology Farms The Enugu State Government says it is set to establish 340 Green House Technology farms across the 17 council areas in the state to boost exports of farm produce. The state’s Commissioner for Agriculture and Agro-industrialisation, Dr Patrick Ubru, disclosed this on Thursday in Enugu. Ubru said that the Green House Technology farm was an initiative of Gov. Peter Mbah to revolutionarise agriculture in the state. He also said that the Green House Technology farm had successfully completed it pilot stage in the last nine months, adding that it was highly successful…

LCCI Proffer Actionable Solutions to Drive Economic Growth, Devt in 2025 The Lagos Chamber of Commerce and Industry (LCCI) has proffered actionable solutions aimed at making the nation’s economic landscape to benefit businesses, strengthening economic growth and development. President, LCCI, Mr Gabriel Idahosa, made the recommendations at the chamber’s first quarter news conference on Thursday in Lagos. He noted that while the recent Gross Domestic Product (GDP) growth figures highlighted commendable progress, gaps between current economic realities and the 2025 budgetary goals raised significant concerns. Idahosa said the 2024 third quarter performance demonstrated resilience but revealed structural bottlenecks, especially in…

Chinese Yuan Weakens to 7.1708 Against Dollar The Central Parity rate of the Chinese currency, Renminbi, or the Yuan, weakened 12 pips to 7.1708 against the dollar on Thursday. This is according to the China Foreign Exchange Trade System. The Central Parity rate of the Yuan against the dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day. In China’s spot foreign exchange market, the Yuan is allowed to rise or fall by two per cent from the Central Parity rate each trading day. #Chinese Yuan Weakens…

MULTIVERSE was the top loser, with a price depreciation of -9.87%. Other decliners include MAYBAKER (-9.78%), REDSTAREX (-4.75%), HONYFLOUR (-4.74%), MTNN (-3.63%), and DANGSUGAR (-2.73%).