Author: Ogochukwu Ndubuisi

China Urges U.S. to Abandon Use of Force Against Iran A Chinese envoy has called on the United States to abandon its fixation on the use of force against Iran. Recent developments in Iran have drawn widespread attention. The United States has continued to make statements on the situation in Iran, and had openly threatened Iran with the use of force. As a result, clouds of war are gathering over the Middle East, and tensions continue to escalate, said Sun Lei, the charge d’affaires of China’s Permanent Mission to the United Nations. “The use of force can never solve problems,…

Guterres Warns World ‘Brimming With Conflict’ as Global Cooperation Frays UN Secretary-General António Guterres has warned the world is “brimming with conflict, impunity, inequality and unpredictability,” even as international cooperation weakens when it is most needed. Guterres issued the warning on Thursday in his final address to the General Assembly outlining priorities for 2026. The UN chief, who assumed office in January 2017, is due to leave office in December. He succeeded Ban Ki-moon at a time of optimism for multilateralism, following agreement on the Paris climate accord and the 2030 Sustainable Development Goals. Guterres said the global system faces…

International Breweries Names Nicholas Kade Managing Director International Breweries Plc (IBPLC) has announced the appointment of Mr Nicholas Kade as the its new Managing Director, effective March 1. The company made the disclosure in a statement signed by its Company Secretary, Temitope Oluwatosin, on Thursday in Lagos. It said the development was due to the transition of its current Managing Director, Mr Carlos Coutino, to another leadership position in its parent company, Anheuser-Busch InBev (AB InBev). The statement noted that Carlos Coutino had an impactful eight-year journey in Nigeria, having joined the company in 2018 as the National Sales/Trade Marketing…

LIRS Sets Deadline for Employers’ Annual Tax Returns Filing The Lagos State Internal Revenue Service (LIRS) has reiterated the statutory deadline of 31st January 2026 for all employers of labour in Lagos State to fulfil their statutory obligation to file their annual tax returns for the 2025 financial year. In a statement issued on Thursday, the Executive Chairman of LIRS, Dr Ayodele Subair, reminded employers that the obligation to file annual returns is in accordance with the provisions of the Nigeria Tax Administration Act 2025 (NTAA). Dr Subair explained that employers are required to file detailed returns on emoluments and…

Yobe Govt. Defrays N15.4 Billion Gratuities Backlog The Yobe Government on Wednesday said it has spent over N15.4 billion to clear the backlog of gratuities of the state and local governments’ retirees. Alhaji Baba Wali, the Secretary to the State Government (SSG) disclosed this at a press briefing in Damaturu, marking Gov Mai Mala Buni’s six years in office. He said with the payment, the state and local governments no longer owed any gratuity. Wali said the state had provided 250 operational vehicles and 500 motorcycles to the various security agencies to enhance their operations since 2019. The SSG said…

U.S. Consumer Price Inflation Increases by 2.7% YoY U.S. Consumer Price Index (CPI) rose by 0.3% month on month (MoM) in December, according to the Bureau of Labor Statistics (BLS), matching the increases seen in June and September. The annual headline inflation rate held steady at 2.7%, the same rate as of November, indicating stable but persistent price pressures to close out the year. Shelter was the largest monthly contributor, up 0.4%, while food indexes surged 0.7% and energy rose 0.3%. Core CPI, excluding food and energy, increased 0.2% MoM, bringing the annual core rate to 2.6%. Notable monthly increases…

Eko Disco Names Wola Joseph-Condotti Interim Chief Executive Eko Electricity Distribution Company PLC (EKEDC) has officially announced Wola Joseph-Condotti as interim chief executive amidst significant leadership transition following Transgrid Enerco takeover. The previous board by the previous majority shareholder, West Power and Gas Limited (WPG), led by Chairman (Dr.) Dere Otubu, resigned today and gave way to the new board. EKEDC new board will now be headed by Engr. (Dr.) Olubunmi Peters as Chairman, Prof. George Nwangwu, Faruk Aliyu, Kolapo Joseph and Rasheed Olaoluwa, while Ayo Gbeleyi remains as the Director representing the BPE on the board. In similar vein,…

TotalEnergies Sells 10% Interest in Onshore Nigerian Assets TotalEnergies has signed an agreement to sell its 10% non-operated stake in the Nigerian onshore oil asset SPDC, renamed as Renaissance JV, to Vaaris, an official statement said. On Wednesday, TotalEnergies announces that its subsidiary TotalEnergies EP Nigeria signed a Sale and Purchase Agreement (SPA) with Vaaris for the sale of its 10% non-operated interest in the Renaissance JV licenses in Nigeria. The Renaissance JV, formerly known as the SPDC JV, is an unincorporated joint venture between Nigerian National Petroleum Corporation Ltd (55%), Renaissance Africa Energy Company Ltd (30%, operator), TotalEnergies EP…

Oil Prices Fall over Uneven Demand, Supply Outlook Oil prices declined in the international commodity market on Wednesday, undoing previous increases spurred by concerns over possible supply disruptions in Iran. Investors shifted their attention to data indicating a significant rise in US crude inventories. International benchmark Brent crude traded at $64.59 per barrel, down about 0.6% from Tuesday’s close of $64.98. The US benchmark West Texas Intermediate (WTI) stood at $60.48 per barrel, down around 0.57% from the previous close of $60.83. The American Petroleum Institute (API) reported that US crude inventories rose by about 5.3 million barrels last week,…

Nigerian Treasury Bills Yield Unshaken by Inflation Expectation The average yield on Nigerian Treasury bills closed steady in the secondary market on Tuesday, reflecting the mix of softer trading activity and selective positioning. Investors took profit at the short and belly of the curve and acted as core drivers of trading activities, but there were selective buying actions for long durations. Investors maintained a positive appetite for investment securities with longer tenors, while there was portfolio rebalancing action on short and mid tenors. The market is adjusting ahead of inflation data amidst expectations of a significant spike that can distort…