Author: Casey Ayodeji
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PCNGI Sponsors 2Face, Basketmouth, Ola of Lagos on Fact-Finding Trip to India
Four prominent Nigerian entertainers – 2Face Idibia, Rarara, Ola of Lagos, and Basket Mouth – are set to embark on a fact-finding trip to India, organized by the Presidential Compressed Natural Gas Initiative (PCNGI). The trip is aimed at enabling these influential figures to gain a clearer understanding of the potential of Compressed Natural Gas…
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CBN Raises Interest Rate to 27.5% to Combat Surging Inflation
In a move to tackle the surging inflation in the country, the Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate (MPR) to 27.50 per cent from 27.25 per cent. The decision was announced by the CBN governor, Yemi Cardoso, following a meeting of the Monetary Policy Committee (MPC) at the apex bank’s…
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Cyprus Moves to Join NATO, Seeks Security Guarantees and Improved Political Positioning
The government of Cyprus is actively pursuing NATO membership in a strategic move aimed at strengthening the country’s defense capabilities and improving its overall political situation. According to a report by Kathimerini, joining the North Atlantic Treaty Organization (NATO) is a top priority for the Cypriot government under President Nikos Christodulidis. The discussions between President…
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Debt Crisis Deepens Across Africa as Nations Struggle with High Borrowing Costs
Speaking at the ongoing 2024 African Economic Conference (AEC), Hanan Morsy, the deputy executive secretary and chief economist at the United Nations Economic Commission for Africa (UNECA), warned that the debt crisis afflicting the African continent has reached a critical juncture, with over 40% of African nations either in debt distress or at high risk…
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Port Harcourt Refinery Commences Crude Oil Processing
After several failed commencement deadlines in the past, the Port Harcourt Refining Company (PHRC) Ltd in Rivers State has officially commenced crude oil processing, marking a monumental achievement for Nigeria’s energy sector. Olufemi Soneye, the spokesperson of the Nigerian National Petroleum Company Limited (NNPCL), disclosed this in a statement on Tuesday, November 26, 2024. According…
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EFCC Finally Arrests Former Kogi Governor Yahaya Bello Over Alleged Misappropriation of Funds
The Economic and Financial Crimes Commission (EFCC) is currently interrogating former Kogi State Governor Yahaya Bello at its office, following his decision to honour the commission’s invitation over allegations of misappropriation of public funds. Bello, accompanied by his lawyers, arrived at the EFCC office on Tuesday morning, a move that comes after the Supreme Court…
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Ronaldo Nets Brace in Al-Nassr’s AFC Champions League Victory
Cristiano Ronaldo continued his remarkable goalscoring form, netting twice to lead Al-Nassr to a convincing 3-1 victory over Al-Gharafa in the AFC Champions League Elite in Qatar on Monday. The Portuguese superstar reached career goals 912 and 913, opening his account just 50 seconds into the second half with a well-placed header from Sultan Al…
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UNDP: Global Conflicts Could Derail Africa’s Growth, But Opportunities Exist
The United Nations Development Programme (UNDP) has warned that global uncertainties stemming from ongoing wars could hamper investments crucial for Africa’s economic development, while highlighting potential pathways for growth despite these challenges. “The rising trend towards protectionism can hurt African trade and slow Africa’s gross domestic product,” said Raymond Gilpin, UNDP’s chief economist and head…
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Abaribe: Nigeria Would Be Better If Peter Obi Had Won 2023 Election
The senator representing Abia South, Enyinnaya Abaribe, believes Nigeria would be experiencing better governance if Labour Party’s Peter Obi had won the 2023 presidential election. Speaking on Channels Television’s ‘Politics Today’ on Monday, Abaribe particularly criticized what he sees as nepotism in President Bola Tinubu’s administration. “If Peter Obi had won, you probably would have…
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NBS Unemployment Data a Fabrication – NLC, Business Groups Reject 4.3% Figure
Nigeria’s unemployment figures have sparked controversy as the National Bureau of Statistics (NBS) reports a decline to 4.3% in Q2 2024, down from 5.3% in the previous quarter. However, the Nigerian Labour Congress (NLC) and business leaders have strongly contested these figures, describing them as disconnected from economic realities. Key Statistics Under Scrutiny According to…