Author: Ogochukwu Ndubuisi

Wike Signed 5,481 Certificates of Occupancy in 16 Months – Official The Minister of the Federal Capital Territory (FCT), Mr Nyesom Wike, has signed 5,481 Certificates of Occupancy (Cs of O) between August 2023 and December 2024. The minister’s Senior Special Assistant on Public Communications and New Media, Mr Lere Olayinka, made the disclosure in a statement in Abuja on Tuesday. Olayinka said that the figure was 2,919 less than the 8,400 C of O signed by the FCT Administration in 13 years from 2010 to 2023. “From May 2010 to May 2015, a total of 5,655 C of O…

Irregular Migration into EU Dropped Significantly in 2024 No fewer than 239,000 people attempted to enter the EU irregularly in 2024, down 38 percent from 2023, the EU border protection agency Frontex said. This was the lowest figure since 2021, when migration movements were restricted by the coronavirus pandemic, the agency said on Tuesday in Warsaw. The Frontex annual report cites one main reason for the downward trend. “In spite of persistent migration pressure, intensified EU and partner cooperation against smuggling networks has significantly reduced crossings at Europe’s external borders,’’ it said. The number of unauthorised entries through the Western…

Equities Investors Lose N1.06Trn as Dangote, MTN Nigeria Slump Equities investors lost N1.06 trillion as 41 stocks plunged on the Nigerian Exchange (NGX) trading platform. The local bourse witnessed a strong bear contest, with the steepest daily decline in the year dragging key market performance indicators downward by 1.66%. This downturn was primarily driven by significant sell-offs in prominent blue-chip and mid-cap stocks such as DANGCEM, JBERGER, MTNN, and others. The Nigerian Exchange market index (All-Share Index) reduced by 1,745.16 basis points today, representing a drop of -1.66% to close at 103,622.09. However, market activities were inched higher, as the…

US Dollar Falls Ahead of Fed Speeches The US dollar fell against its major trading partners early Tuesday, except for an increase versus the yen, before a busy day of economic data releases and appearances by Federal Reserve officials. This week’s US inflation data could potentially reinforce the dollar’s strong momentum and cast further doubts on whether the Fed needs to cut at all, ING analyst Francesco Pesole said in a note. Earlier Tuesday, the National Federation of Independent Business said small business optimism surged in December to its highest point since October 2018, lifted by a much-improved economic outlook…

Okonjo-Iweala Urges Africa to Harness AI for Development The Director-General of the World Trade Organisation (WTO), Dr Ngozi Okonjo-Iweala has urged Nigeria and other African nations to fully harness the potential of Artificial Intelligence (AI) through strategic investments. She made this call at the 10th Convocation Ceremony of the African University of Science and Technology (AUST) Class of 2024 in Abuja on Tuesday. Okonjo-Iweala spoke on ‘Artificial Intelligence (AI) and Frontier Technologies: Harnessing Opportunities and Tackling Challenges to Drive Africa’s Development’. She emphasised the need for investments in infrastructure, regulatory frameworks, and digital literacy to empower the youth. “We need…

FCCPC, NCC Partner to Curb Telecoms Abuses The Federal Competition and Consumer Protection Commission (FCCPC) and the Nigerian Communications Commission (NCC) have signed an agreement to eliminate regulatory gaps in the telecommunications industry. Mr Tunji Bello, the Executive Vice Chairman of FCCPC, said at the signing of the Memorandum of Understanding (MoU) in Abuja on Tuesday, that the collaboration would ensure robust consumer protection in the telecommunications industry. Bello said the partnership would also promote fair competition and ensure eradication of exploitative practices in the industry. According to him, this partnership will benefit both operators and consumers, will also foster…

Africa Has What it Takes to Develop Itself – Tinubu President Bola Tinubu says that Africa has what it takes to develop itself and should look inward to improve intra-African trade in the interest of the people and the continent. The President said this on his official X account on Monday, adding that he had successful conversations with the Rwandan President, Paul Kagame, on the eve of the Abu Dhabi Sustainability Week (ADSW 2025). “We have the resources, the people and the capacity. We must look inward to improve intra-African trade and collaboration to benefit the African people and the…

Nigeria Urges Global Financiers to Invest In Airport Concessions Mr Festus Keyamo, the Minister of Aviation and Aerospace Development, has urged global financiers to invest in the concessions of Murtala Muhammed International Airport, Lagos, and Nnamdi Azikiwe International Airport, Abuja. The minister was speaking at the Airline Economics Growth Frontiers Global in Dublin, Ireland, on Monday. The Airline Economics Growth Frontiers Global event opens holds from Jan. 12 to 15. The event, which is part of Airline Economics Week, focuses on the latest developments and trends in the global aviation industry, with a particular emphasis on the finance and leasing…

Nigerian Exchange Sheds N51bn as FBNH, MRS Oil Slump The Nigerian Exchange (NGX) shed more than N51 billion on Monday as investors sold down interest in FBN Holdings, MRS Oil, and LASACO, among others. The local bourse opened negative after more than N1 trillion spike in market capitalisation last week. The selloffs affected key market performance indicators, declining by -0.08% on the day. Stockbrokers reported that the market downturn was primarily driven by profit-taking activities in some recently appreciated medium- and large-cap stocks across major market sectors. The Nigerian Exchange market index, or All-Share Index, decreased by 83.81 basis points…

Lagos Assembly Impeaches Speaker, Elects Deputy as Replacement Lagos State House of Assembly has impeached its Speaker, Mr Mudashiru Obasa . The House impeached Obasa at an emergency plenary in Ikeja on Monday. The Deputy Speaker, Mrs Mojisola Meranda(APC-Apapa 1) was subsequently elected and sworn in by the lawmakers as new Speaker . The Clerk of the House, Mr Olalekan Onafeko , was also suspended indefinitely, while the Chief Whip of the House, Mr Mojeed Fatai, was elected the new Deputy Speaker. Security officials have taken over the premises of the Assembly to forestall any breakdown of law and order…