Author: Ayo

Britain’s economy has received a much-needed boost, with the Gross Domestic Product (GDP) growing by 0.4 percent in May, surpassing analysts’ expectations of 0.2 percent growth. This development is a welcome news for the newly-elected Labour government, which has made economic growth a top priority. According to the Office for National Statistics, the GDP growth in May is an improvement from the flat growth recorded in April. The new finance minister, Rachel Reeves, has hailed the development, saying “Delivering economic growth is our national mission, and we don’t have a minute to waste.” Reeves, who became the country’s first female…

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The Peoples Democratic Party (PDP) has challenged the Federal High Court’s decision to nullify its governorship primary in Edo State, which took place on February 22. The party filed an appeal at the Court of Appeal in Abuja, arguing that the lower court’s judgment was erroneous and lacked evidence. The PDP’s appeal, filed by its lawyer Adeyemi Ajibade (SAN), contends that the trial court’s decision was against the weight of evidence and requests that the appellate court set aside the judgment. The party argues that it conducted a valid ad hoc ward congress on February 4, which the respondents did…

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Real Madrid has confirmed that Kylian Mbappe will be officially presented to fans at the Santiago Bernabeu on July 16. The highly anticipated event is expected to draw a massive crowd, filling the 81,000 capacity stadium, in what will be the club’s largest player presentation since Cristiano Ronaldo’s arrival in 2009. The French superstar will don the iconic No. 9 shirt for Los Blancos, signing a five-year contract after departing Paris Saint-Germain as a free agent. This move marks the culmination of Real Madrid’s long pursuit of Mbappe, who was eliminated from Euro 2024 with France on Tuesday night, scoring…

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The United States dollar was traded at ₦1,545 in the black market as of Wednesday, July 10, 2024. This represents a -15.34% decline in the value of the dollar against the naira this week and -15.14% decline for this month. In the parallel market in Lagos, a dollar was bought for ₦1,530 and sold for ₦1,540 on Tuesday, July 9. It is important to note that the Central Bank of Nigeria (CBN) does not recognize the parallel market, and has directed individuals who want to engage in Forex to approach their respective banks. The constant fluctuations in the exchange rate…

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The Trade Union Congress (TUC) has reaffirmed its stance on the ideal minimum wage for Nigerian workers, insisting that N250,000 is the benchmark. President of TUC, Festus Osifo, disclosed this at the Petroleum and Natural Gas Senior Staff Association of Nigeria Women Commission’s maiden Annual Convention in Abuja. Osifo assured that negotiations on the new minimum wage are ongoing, despite the pause in discussions following President Bola Tinubu’s decision to consult with stakeholders. “The minimum wage negotiations cannot be dead. We started in January, and we promised to fast-track it. We submitted our position in June, and the President wants…

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Colombian pop sensation Shakira will grace the 2024 Copa America final with a halftime performance at the Hard Rock Stadium on July 14. The highly anticipated event is expected to draw a massive crowd of 54,000 spectators. According to Alejandro Domínguez, president of CONMEBOL, “Shakira is an extraordinary South American star who has dazzled the entire world. Her performance at the Copa América USA 2024 will enhance the message of healthy passion and unity through sport.” This will not be Shakira’s first major global performance, having previously graced the Super Bowl and three World Cups with her electrifying shows. The…

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Despite efforts by the Economic Community of West African States (ECOWAS) to reconcile with Mali, Burkina Faso, and Niger Republic, Mali’s Foreign Minister, Abdoulaye Diop, has maintained that their exit from the regional bloc is final. Diop reiterated that the withdrawal of the three countries from ECOWAS is “irrevocable” and “without delay.” He stated that Mali is willing to cooperate with ECOWAS but opposes the introduction of visas for nationals of the three countries traveling within the bloc. “Our Heads of State were very clear in Niamey when they said the withdrawal of the three countries from ECOWAS is irrevocable…

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The President Bola Ahmed Tinubu administration is considering releasing Mazi Nnamdi Kanu, leader of the proscribed Indigenous People of Biafra (IPOB), due to intense pressure from South-East leaders. Kanu has been in federal custody since June 2021, after his extradition from Kenya. While the presidency has refused to comment, sources indicate that Kanu’s release may be imminent, although the terms remain undisclosed. South-East leaders, including governors and legislators, have intensified lobbying efforts, seeking a political solution to the impasse, which has led to economic and social crises in the region. The federal government, through the Attorney General of the Federation…

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Former presidential candidate, Peter Obi, has thrown his weight behind the Economic and Financial Crimes Commission (EFCC) chairman, Ola Olukoyede, in the fight against corruption. Obi, in a statement on Monday, commended Olukoyede for his determination to tackle grand corruption, which has ravaged the economy and impoverished citizens. Obi, who has consistently advocated for prioritizing the fight against corruption, urged anti-graft agencies to focus on investigating major cases of corruption in government and public asset management, including oil theft, budget padding, contract inflation, embezzlement, and misappropriation of public funds. He emphasized the need for accountability, stressing that those responsible for…

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A severe fuel scarcity has hit Lagos and other parts of the country, with private depot owners increasing the ex-depot price of petrol to N720 per litre, up from N630. This development has led to a worsening fuel crisis in Abuja and neighboring states, with some filling stations selling petrol as high as N900 per litre. Many filling stations in Lagos, Ogun, and other states have run out of stock, refusing to buy fuel from private depots at the hiked price. According to Hammed Fashola, National Vice President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), “Those that shut…

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