Nigeria Needs Consistent Policy To Attract FDIs – JP Morgan CEO

The Chairman and Chief Executive Officer of JP Morgan, Mr. Jamie Dimon, has counseled Nigeria and other countries, seeking Foreign Direct Investments (FDIs) to ensure consistency in their regulatory framework and policies. Dimon who stated this on Wednesday at the 30th Nigerian Economic Summit (NES#30) in Abuja, noted that to attract investments requires consistent laws, regulations, rules, legislation, and legal environments, to woo foreign investors. Dimon stated that when these are in place, investors would...

World Bank: Naira Among Worst-Performing Currencies in 2024

The Nigerian naira has been ranked among the worst-performing currencies in sub-Saharan Africa for 2024, according to the World Bank’s latest Africa’s Pulse report. The report revealed that the naira depreciated by 43 per cent as of August 2024, placing it alongside the Ethiopian birr and South Sudanese pound. “By August 2024, the Ethiopian birr, Nigerian naira, and South Sudanese pound were among the worst performers in the region,” the World Bank said. The report...

Governor Abiodun Approves N77,000 as New Minimum Wage For Ogun State Workers

The Secretary to Ogun State Government, SSG Mr. Tokunbo Talabi has announced Governor, Dapo Abiodun has approved N77,000 as minimum wage for workers in the state with effect from October 2024. Talabi, disclosed this after a meeting with the leadership of the organized labour in Ogun State, comprising the Nigeria Labour Congress, NLC, Trade Union Congress, TUC, and the Joint Negotiating Council, JNC. “The meeting is to discuss the implementation of the new minimum wage...

TCN says restoration of the collapsed national grid is almost complete

The Public Affairs General Manager of Transmission Company of Nigeria (TCN) Ndidi Mbah says the restoration of the national grid that collapsed on Monday is almost complete. Mbah said in a statement on Tuesday, that the national grid “experienced a partial disturbance” on Monday, October 14. Mbah said TCN continued with the grid recovery process, which has reached an advanced stage, ensuring “bulk power availability” to about 90% of its substations nationwide. According to him,...

Court Rules in Favour of Falana and Falz in Defamation Case Against VeryDarkMan

…Orders Takedown of Defamatory Social Media Posts The Lagos State High Court has issued an order restraining Martins Otse, a social media critic popularly known as VeryDarkMan, from circulating defamatory videos and comments about renowned human rights lawyer Femi Falana (SAN) and his son, Folarin Falana, also known as Falz. In a ruling delivered on Monday by Justice M. O. Dawodu in suit no: ID/8584/GCM/2024, the court directed VeryDarkMan to remove the defamatory posts made...

World Bank Grants Nigeria $500 Million to Boost Post-COVID Recovery

…Vice President Gill Urges Government to Sustain Reforms Despite Hardships The World Bank has announced a $500 million grant to support Nigeria’s recovery from the economic impacts of the COVID-19 pandemic through the Nigeria Community Action for Resilience and Economic Stimulus, NG-CARES, programme. Launched in 2021, NG-CARES was designed to assist vulnerable households and micro-small enterprises affected by the pandemic. Dr Lire Ersado, the World Bank Task Team Leader for NG-CARES, disclosed the new funding...

Super Eagles Abandon AFCON Qualifier in Libya After 12-Hour Airport Ordeal

The Super Eagles of Nigeria have withdrawn from their 2025 Africa Cup of Nations, AFCON, qualifying match against Libya following a harrowing 12-hour ordeal at Al Abraq International Airport. The Nigerian contingent, including players and officials, landed in Libya on Sunday evening only to face unexpected obstacles that left them stranded and without assistance. The Nigerian squad had travelled to Libya after securing a 1-0 victory over Libya last Friday at the Godswill Akpabio Stadium,...

Kogi Govt Calls On FG For Help, As Flood Ravages State

The Kogi State Government has called on the Federal Government and international donor agencies to come to the aid of the state as flood sacks over 200 communities. The State Commissioner for Information and Communications, Hon. Kingsley Fanwo while addressing newsmen at Kotonkarfe, Kogi Local Government on Monday noted that a major “humanitarian crisis is brewing in the state as close to two million people are currently homeless”. He said the “National Emergency Management Agency...

“Times Are Difficult, Eat Free Food When You Can,” Akpabio Tells Nigerians

The President of the Senate, Godswill Akpabio, has advised Nigerians to seize every opportunity to eat free food as they grapple with the country’s rising economic challenges. Akpabio made the statement during a plenary session, where he said, “Times are difficult, and wherever you see free food, please endeavour to avail yourself,” according to a video that went viral on Sunday. The remark, made in a jovial tone, drew laughter from other senators despite the...

Battling the Storm: How Ordinary Citizens of Anambra Are Coping with Economic Hardship

As the economic challenges in Nigeria deepen, the people of Anambra State, like many others across the country, are feeling the weight of skyrocketing prices, job losses, and a strained economy. The ripple effect of inflation, increased fuel prices, and a depreciating naira is forcing ordinary citizens to make hard choices in their day-to-day lives. From small-scale traders in Onitsha to farmers in rural communities, the struggle to meet basic needs is reshaping daily existence...

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