Headline

The Federal Government has raised N1.23tn through two bond issuances under its Presidential Power Sector Debt Reduction Programme as it moves to settle verified legacy obligations owed to electricity Generation Companies (GenCos).

Security agencies have placed schools, NYSC orientation camps, churches, mosques and other vulnerable locations across the country on heightened security alert and tightened surveillance following intelligence indicating possible coordinated terrorist attacks.

Governors elected on the platform of the All Progressives Congress (APC) have drawn a political red line against alliances and arrangements capable of weakening the party or undermining President Bola Tinubu’s re-election bid.

Africa’s biggest refinery opens its doors to public investors with a N2.15 trillion share offer, as Aliko Dangote signals plans to take more group companies public.

A statement issued by the Head of Media and Corporate Communications at the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Eniola Akinkuotu, said the August figure represented a 0.4 per cent increase from the previous month.

Nigeria has called on the BRICS bloc to lead a fundamental rethink of the global governance architecture and international financial system, declaring that the rules governing the world order must be rewritten to reflect contemporary economic and demographic realities.

The development triggered a fresh surge in crude prices, with Brent crude futures jumping $3.62, or 3.46 per cent, to $108.23 per barrel as of 2214 GMT, while US West Texas Intermediate (WTI) futures rose $3.15, or 3.15 per cent, to $103.20 per barrel.

Last week was a reminder that financial markets rarely move because of one story.

Diplomacy appears to be failing in resolving the impasse between Nigeria and South Africa following unrelenting xenophobic attacks on Nigerians and some other Africans.

Finance experts contend that the real value of the revenue has diminished because of the prevailing exchange rate, which makes logistics and operational costs very prohibitive.