Author: Chief Editor

Compared to other ECOWAS countries, Nigeria’s export of fresh fruits and vegetables has slumped in the last six years, causing huge losses to farmers and the country in terms of revenue. Industry players are worried that as a very small share of the volume of fruit and vegetables produced is exported, the share is decreasing by half, as the production is growing and the level of export reducing. This, stakeholders claimed, is part of the reasons why airlines depart the country without exportable goods, a development that has been linked with loss of foreign exchange for the country. The Senior…

Following the launch of the Staple Crop Agro Processing zones in the country, indications have emerged that the African Development Bank (AFDB), International Fund for Agricultural Development (IFAD) and the Islamic Development Bank (IDB) will be investing the sum of $538million in the establishment of agro processing zones in the country A breakdown shows that AFDB will be investing $210million, while IFAD and IDB will be co-financing the project with $160million and $150million respectively for seven-year period. The AFDB President, Dr Akinwumi Adesina, who gave the breakdown of the investment during an interactive session yesterday in Abuja stressed that the Staple Crop Agro Processing…

• Naira Depreciation, Rise In Inflation Imminent —Experts • ‘Incoherence Among Govt Agencies Common Under Buhari’ • Altercation Suggests No Working Relationship Between Monetary, Fiscal Authorities —Owoh • FEC, Not President Alone, Should Have Approved It As HURIWA Backs Ahmed The latest altercation between the Central Bank of Nigeria (CBN) and the Ministry of Finance, Budget and National Planning on redesigning the Naira has for the umpteenth time exposed the level of lack of coordination among critical arms of the national economic management team. And for a federal government that rode to power with economic revitalization as one of its…

Twitter Inc (TWTR.N) shares will be suspended from trading on Friday, the New York Stock Exchange’s website showed, as billionaire Elon Musk faces a court-ordered Oct. 28 deadline to close his $44 billion deal to buy the social media company. Musk, the world’s richest person, visited Twitter’s headquarters in San Francisco on Wednesday and hinted he was the company’s top boss after updating his profile bio to “Chief Twit”. Reuters reported on Tuesday that equity investors, including Sequoia Capital, Binance, Qatar Investment Authority and others, had received the requisite paperwork for the financing commitment from Musk’s lawyers. The deal’s completion would mark an end to…

Fresh elections to resolve a political impasse in Northern Ireland can still be avoided, British Prime Minister Rishi Sunak’s spokesman said on Thursday, urging political parties to restore the province’s devolved government. “There is still time for the DUP (Democratic Unionist Party)and executives to get back to Stormont,” the spokesman said. “So we urge them to do so because the people of Northern Ireland deserve a fully functioning and locally elected executive, which can respond to the issues facing the communities there.” [Reuters]

Airbus staff in Spain will go on an indefinite strike from Monday to demand a pay rise, unions said on Thursday. “The protest will start on Oct. 31 and will end as soon as management is prepared to guarantee that workers do not lose purchasing power,” unions CCOO, UGT-FICA and ATP-SAe said in a statement. Airbus employs around 12,300 workers across eight sites in the Spanish regions of Madrid, Castile-La Mancha and Andalusia. Europe’s cost-of-living crisis is putting upward pressure on wage inflation as companies across the continent face demands from workers to cushion the impact of soaring prices. The…

Dollar touches 1-mth low on hopes Fed will relent on big rate hikes U.S. crude exports surge to record, inventories rise Western officials finalising Russia oil-price cap plan Oil rose on Thursday, extending a rally of nearly 3% in the previous session, as optimism over record U.S. crude exports and signs that recession fears are abating outweighed concern over slack demand in China. Figures on Wednesday showed record U.S. crude exports, a hopeful sign for demand, even as crude stocks rose. The U.S. dollar weakened in early trade on hopes that interest-rate hikes may become less aggressive. “It appears that…

Less than two weeks before the U.S. midterm elections, with Democrats on verge of losing their razor-thin majority in Congress, the party is asking former President Barack Obama to perform some late-game heroics – or at least help limit their losses. Obama, who left office in 2017 after serving two terms, travels to Georgia on Friday, and then moves on to Wisconsin, Nevada and Pennsylvania, all key battlegrounds in the Nov. 8 election. All four states are home to competitive Senate races where Republican candidates appear to be gaining momentum. Republicans need to pick up just one additional Senate seat to secure control…

South Korean forward Son Heung-Min is reportedly considering making a move away from Tottenham Hotspur after spending close to seven seasons at the club. The 30-year-old is widely considered one of the best wingers in the Premier League due to his impeccable display for Spurs over the years. He has so far scored a combined total of 136 goals and provided 76 assists in 341 appearances in all competitions for the north London club. He shared the Premier League Golden Boot last season with Mohamed Salah, scoring 23 goals. Tottenham Hotspur star Son Heung-min ready to move to ‘bigger’ club Should he eventually decide to seek…

A move to Napoli makes more sense for Cristiano Ronaldo than a transfer to Chelsea as things stand, according to Portugal-based journalist Bruno Andrade. Cristiano Ronaldo grabbed headlines after he stormed down the tunnel during Manchester United’s Premier League win against Tottenham Hotspur last week. He also reportedly left Old Trafford before the final whistle that day. It then emerged that the five-time Ballon d’Or winner refused to come on as a substitute against Spurs. He was then punished for his antics by being dropped from the Red Devils’ squad to face Chelsea at the weekend. Ronaldo has since returned to training with the Manchester United senior…