Breaking News in Nigeria Today Monday 10th February 2020
Here are some of the Breaking News in Nigeria Today Monday 10th February 2020 on some of the nation newspapers .
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NSE extends weekly loss by 2.69%
T rading activities on the floor of the Nigerian Stock Market (NSE) yesterday closed further on the downswing as sentiments remained weak following sustained profit-taking activities. The NSE All-Share Index and Market Capitalisation depreciated by 2.69 per cent and 1.61 per cent to close the week at 28,067.09 and N14.618 trillion respectively. All other indices finished lower with the exception of NSE Insurance index, which appreciated by 0.23 per cent while NSE ASeM Index closed flat A total turnover of 1.478 billion shares worth N20.295 billion in…
Nigeria suffers N7.1bn loss to power shortage
DIP Oxford Business Group says power shortage blocks fresh investments in Nigeria’s manufacturing sector N igeria, Africa’s biggest economy, suffered N7.1 billion loss to gross electricity deficit rocking the country in the last one year. This, economic experts at the Oxford Business Group said, came as the country with a population of over 180 million, supplies a meagre 3,500 mega watt daily. The power shortage, the latest report by OBG experts read, blocks fresh investments in manufacturing. Noting that Nigeria “is in some ways a natural choice…
Justice system reform, panacea for prison congestion
Lawyers: Govs’ failure bane of prison congestion AKEEM NAFIU writes on how reforming the nation’s justice system would solve seeming problems of prison congestion and an upsurge in number of awaiting trial and condemned inmates following governors’ refusal to sign their death warrants S ome senior lawyers have expressed concerns over the congested state of Correctional Centres across the country. Their concern is coming amidst revelations by the Federal Government that the various Correctional Centres across the country now house more than 115,000 inmates awaiting trial.…
Total Nigeria: Operational costs clog earnings
The volatility in the overall economic and business climate is taking a negative toll on the earnings of Total Oil Nigeria Plc. Chris Ugwu writes O perating environment for oil and gas sector of the Nigerian economy like other sectors has remained very challenging with enormous economic and securities issues. The effect of rapid devaluation of naira has wiped out billions of naira in market capitalisation for Nigeria’s fledgling oil and gas companies. Challenges of insecurity and other high costs of operations attributable to poor infrastructure have also…
Finance Act: Inflating underwriters’ growth potential
A major burden has been taken off the country’s underwriting sector with the new Finance Act 2019, thereby paving the way for profitability, prompt claims and dividend payments. Sunday Ojeme reports F or years, Nigerian underwriters had operated their business under the strangulation of unnecessary tax burden that ate deeply into their profits as well as dividends for shareholders. Despite successive outcry for the Federal Government to tamper with the tax law in their favor, the operators were ignored even when the industry itself was bedeviled by other…
Shipping line sabotages N398.2bn Sesame export plan
SABOTAGE The Central Bank of Nigeria’s initiative is being frustrated by foreign shipping line M oves by Nigeria farmers to earn about N398.2 billion ($1.1 billion) from export of sesame seed in the global market is gradually being truncated by a shipping line. This is coming at a time the global price of the seed reaches $2,200 per tonne. Currently, the country has the capacity to produce 500,000 tonnes of the seed for export. However, investigation by New Telegraph revealed that the shipping line, CMA CGM, has introduced a new…
Dickson preaches unity among ethnic groups
B ayelsa State Governor, Seriake Dickson, at the weekend urged Nigerians to close ranks and promote unity in the country to move the country to the next level of development, rather than promoting divisive tendencies that could tear the nation apart. Governor Dickson spoke yesterday at the conferment of a high profile chieftaincy title on him by Idoma Traditional Council (ITC) in Benue State, where he received the title of “Oyi’Ihotu K’Idoma,” meaning “a cherished son of Idoma land,” held at the Och’Idoma palace in Otukpo. The governor noted that…
Ezeilo: We must raise accountability stake to curb police impunity
Joy Ezeilo, an international human rights lawyer, scholar, and activist is a Professor of Law and Dean Faculty of Law at the University of Nigeria Nsukka (UNN), Enugu campus. She is the founder of Women Aid Collective (WACOL). In this interview with KENNETH OFOMA, Ezeilo speaks on law, human rights, invasion of WACOL’s office, police assault on a female lawyer and sundry issues Impunity is prevalent among law enforcement agency especially an instance whereby police intimidate and engage in abuse of human rights with specific reference to what happened…
Bamigbola: Nigeria is a giant taking slow steps
Mr. Adedotun Bamigbola is the Chairman of Nigerian Institution of Estate Surveyors and Valuers (NIESV), Lagos branch. In this interview with Dayo Ayeyemi, he speaks on sundry issues affecting the economy, real estate, national budget, Ease of Doing Business and data, among others. How would you describe Nigeria’s economy? One of the greatest challenges as human beings is that we want things to happen very fast. Unfortunately, it is easier to destroy than to build. And the building process is strenuous, it can be tough. The…
IMF to replace Lipton as first Deputy MD
T he Managing Director, International Monetary Fund (IMF), Kristalina Georgieva, at the weekend made her first major personnel move since taking over the institution last October, announcing that her top deputy, David Lipton, will leave at the end of February. The IMF said Lipton’s departure as first deputy managing director was, “in the context of changes she will be making to the leadership team.” Lipton, a 66-year-old American economist, had held the position since September 2011, longer than any other first deputy managing director. But his departure comes 19 months…
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