News

The Namibian government has decided to reduce the price of petrol by 80 Namibian cents per litre (around $0.044). Similarly, 50ppm diesel will be rented at 60 Namibian cents per litre, and 10ppm diesel at 70 Namibian cents per litre from Wednesday. The country’s Ministry of Mines and Energy (MME) announced this in a statement on Tuesday. The ministry said …

Nigeria’s equity market recovered from the previous day’s losses with investors gaining N25 billion at the end of trading on Tuesday. This follows the increase in share prices of CORNERSTONE, JAIZBANK and WAPIC among others on the trading floor today. After five hours of trading in the capital market, equity capitalization increased to N56.6 trillion from N56.5 trillion posted by …

Turkey and the Netherlands advanced to the quarter-finals of the ongoing European Championship after they won their round of 16 matches on Tuesday. The Netherlands reached the last eight after they secured a 3-0 win over Romania. Substitute Donyell Malen scored twice and Cody Gakpo scored his third of Euro 2024 to help the Netherlands advance in the competition. Also …

The Nigerian National Petroleum Corporation (NNPC) Limited has declared a state of emergency on crude oil production in the country. The company also invites all industry players to collaborate to reduce oil production costs and increase production to the targeted level. NNPC Group Chief Executive, Mele Kyari, disclosed this at the 23rd edition of the Nigeria Oil & Gas (NOG) …

The Naira lost N1 against the US dollar on the official exchange on Tuesday. Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed that the local currency was trading at N1,509/$1 on Tuesday compared to N1,508/$1 recorded the previous day. The intraday high and low prices recorded during the day were N1,521/$1 and N1,445/$1 respectively, indicating a slim spread …

Sokoto State said on Tuesday that the Sultan of Sokoto, Muhammad Sa’ad Abubakar III, has no authority to appoint district and village heads in the state. The state Attorney General and Commissioner for Justice, Muhammad Nasiru Binji, stated this at a public hearing on the proposed amendments to the Sokoto State Local Government and Chieftaincy Act 2008 at the state …

The Nigerian Wrestling Federation has announced six athletes who will represent the country at the 2024 Olympic Games in Paris. The team includes five female wrestlers, one male freestyle wrestler and three coaches, and they were introduced on Monday during a festive event at the Dynamite Wrestling gym in Yenagoa, Bayelsa State. The wrestlers featured are Tokyo Olympics silver medallist …

Sugum Mai Mele, Commissioner for Local Government and Emirati Affairs in Borno, has revealed that one of the suicide bombers involved in the recent attacks in Gwoza local area begged for money before detonating his explosive device. On Saturday, June 29, four suicide bombers carried out attacks in various locations in Gwoza. Speaking to Channels TV on Monday, July 1, …

Fourteen people were killed when a three-story building collapsed in the southern Egyptian city of Assiut on Monday. The city’s governor, Essam Saad, said on Tuesday. He said the bodies were recovered from under the rubble during search and rescue operations by emergency workers. “Six people were rescued and have been shifted to hospital,” Saad said. According to him, poor …

Tinubu Approves New Withholding Tax Policy President Bola Tinubu has approved a new withholding tax policy to replace the old one introduced in 1977. The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, announced this on Tuesday, July 2. The new withholding tax policy introduces significant reforms designed to ease the heavy burden that the …