The deputy national chairman of the Labour Party, Joseph Akinlaja, yesterday said the leadership of the party has ruled out the possibility of merging with any political party in the country for now. “As of today, we have not decided whether to merge with any political party; we are not even contemplating it at all. Labour Party is growing everyday.…
The result of Saturday’s presidential election has left the people of Bayelsa State ecstatic. While anger and frustration gave way to violent protests in parts of the North, people in the South-South are happy that their son, Goodluck Jonathan, was declared winner and president-elect by the Independent National Electoral Commission. In Yenagoa, the Bayelsa State capital, celebrations started on Monday,…
The recent chaos and post election violence in some parts of the north have been described as a bad signal to investors and the international community. Assessing the impact and the implications of the crises, finance experts and industry analysts said how it affects the economy and the confidence of investors who may want to invest in the country depends…
The successful issuance of the $500 million Eurobond in January has improved Nigeria's path towards being regarded as an emerging market economy. The director general of the Debt Management Office (DMO), Abraham Nwankwo, in his keynote address at the two-day workshop on ‘Investments in Bonds and Securities in Emerging Economies' organised by the Chartered Institute of Bankers of Nigeria in…
Tokunbo Ishmael, Principal Partner in Alitheia Capital, says value of impact investment in Africa has the potential to exceed 500 billion dollars over the next decade. Mrs. Ishmael described impact investing as investment strategy whereby an investor proactively seeks to place capital in business that would have intentional social or environmental goal. She made the observation in an article on…
The market capitalisation of equities at the Nigerian Stock Exchange, on Monday, rebounded to N8.086 trillion as investors scramble for Transcorp and banks' stocks. The market capitalisation had plunged middle of last month from the N8 trillion region following low confidence in the market as a result of political uncertainty. However, the Exchange's capitalisation of the 194 First-Tier equities closed…
Nigerian stocks rose their most in more than one month on Monday to the highest since mid-March as the completion of presidential elections held the promise of renewed inflows of foreign money. Although rioting erupted in largely Muslim northern Nigeria after results showed victory for President Goodluck Jonathan, Nigeria's All-Share Index rose 2.8 percent to cross the psychologically important 25,000…
In its bid to boost sanitation coverage in Nigeria, the National Task Group on Sanitation (NTGS) is set to establish an international centre for information on sanitation in the country. Obioha Agada, the Chairman of the group, disclosed this on Monday in Abuja in an interview. Mr. Agada, who also is an acting Director in the Federal Ministry of Water…
Governor Olusegun Mimiko of Ondo State yesterday described the victory of President Goodluck Jonathan in the last Saturday's election as a call to duty. Mr. Mimiko in a congratulatory message sent to the president through his chief press secretay, Mr. Kolawole Olabisi, said the victory was well deserved. While defending the choice of Mr. Jonathan by the Labour Party, Mr.…
The Cross River State police command has deployed a team of anti-riot police men to Bogobiri, an area in Calabar populated by northerners, mainly Hausa Fulani. An armoured tank has been stationed in the area. Another team of policemen has also been dispatched to Nasarawa Bacoco which is about 14 kilometers from Bogobiri. The policemen are expected to ensure that…
Denrele leaves Soundcity Controversial Soundcity vee-jay, Denrele Edun, has confirmed his resignation from the popular urban music channel, Soundcity. The popular presenter, who is famous for his peculiar lifestyle as well as for impressively conducting many red carpet interviews for the music channel, revealed that he voluntarily left his job of six years to pursue some other personal dreams. "I…
Plans to demutualise the Nigerian Stock Exchange (NSE) seem to be bringing major capital market parties into collision. The procedure to demutualise the NSE, which has been on the drawing board since the last three years, means that its shares would be sold to the public and listed on its daily official list. However, since the plan was mooted, it…
Now that we have chosen our president for the next four years, we will do well to think through what we can expect to feature on his to-do list, every day, until this stage is reached again at the start of the next election cycle. Ordinarily, it would help to start with the different planks on the party platform of…
International Monetary Fund (IMF) member countries sought to bridge sharp differences over the global economy, acknowledging that rising inflation in emerging markets poses a risk to rich countries too. Addressing one of their biggest challenges, the 187 IMF nations on Saturday recognised the alarm among developing countries about huge inflows of speculative cash that are stoking their growth but also…
The turnout of voters for the presidential election in Ilorin, the Kwara State capital, was generally low compared to the National Assembly election held last Saturday April 9. There was light vehicular movement around the state, and some shops were open for business. It was also noticed that only a few party agents were at the voting stations. The agents…