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Aliko Dangote, Africa’s richest man and chairman of Dangote Industries Limited, has said he will no longer pursue his plans to enter Nigeria’s steel industry. His revelation comes two months after his company announced it would invest in the steel sector. Addressing reporters at his Lagos refinery this weekend, Dangote said the organisation’s board had decided to shun the steel …

Labour Party presidential candidate in the 2023 election, Peter Obi, on Monday called for urgent action to prevent further collapse in the country. He was reacting to the latest rise in Nigeria’s headline inflation rate to 34.19 percent. In a series of tweets on his official platform X, the former Anambra State governor expressed his deep concern over the country’s …

  Elon Musk’s endorsement of former President Donald Trump isn’t sitting well with Tesla’s (TSLA) potential customers. New data from analytics firm CivicScience shows that Tesla’s popularity among Democrats has fallen to 16% as of July 16, down from 39% in January. Among Republicans, the data shows that popularity has fallen to 23% from 36% over the same time period. …

Ahead of Tuesday’s Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC) meeting, the Centre for the Promotion of Private Enterprise (CPPE) has asked the central bank to suspend plans to increase bank rates. The think tank’s Chief Executive, Dr. Muda Yusuf, made the call in an interview with journalists on Sunday in Lagos. He urged the MPC to keep …

Senator Adams Oshiomhole has urged Nigerians to have patience with the administration of President Bola Tinubu. Oshiomhole made the statement on July 21 during an interview on Channels Television’s Sunday Politics programme. The former governor, who now represents Edo North in the Senate, assured Nigerians that Tinubu’s policies would yield results in due course, urging patience. He said: “It must …

The Kogi State Government has announced its opposition to the planned nationwide protest against bad governance scheduled for August 1. The state Commissioner for Information, Kingsley Fanwo, said in a statement on Monday in Lokoja, that the people of the state would not participate in the protest. He said the state fully supports the Federal Government’s efforts to revitalize the …

Investors enjoyed positive moves last week following strong performances from stocks such as Airtel Africa Access Corp UCAP, and NAHCO among others. Nigerian equity markets rallied in four out of five trading sessions as the benchmark All Share Index (ASI) rose +0.87% to close at 100,539.40 points from 99,671.28 points in the previous week. Investors gained N320.84 billion as market …

US President Joe Biden has endorsed the candidacy of his Vice President Kamala Harris as the new Democratic presidential candidate for the 2024 presidential election. Biden made the announcement on his official X page on Sunday, shortly after withdrawing from the November US presidential election. He explained that it was in the interest of his party and the country to …

President Bola Tinubu said on Sunday that the Economic Community of West African States (ECOWAS) has allocated at least $13 million to support frontline counter-terrorism efforts and humanitarian efforts in the sub-region. Tinubu, according to a statement issued by his Special Adviser on Media and Publicity, Ajuri Ngelale, stated this at the Sixth Mid-Annual Coordination Meeting of the African Union …

The Federal Government has set a deadline of July 31 for all civil servants to complete the mandatory verification process through the Integrated Payroll and Personnel Information System (IPPIS) portal. This move aims to eliminate shadow workers and ensure payroll records are accurate. Concerns Addressed, Time Pressure Increases: The announcement follows unverified reports of plans to defer salaries for civil …