NewsReports

Like every other sector, the building and construction industry may be witnessing one of its worst moments, as exchange rate, building materials, and labour prices have triggered an increase in construction costs by 200 per cent in the last two years. Nigeria’s inflation rate as of December 2023 climbed to 28.9 per cent. The recent upsurge in inflation is primarily linked …

TEL AVIV, Israel — A ship traveling through the southern Red Sea was attacked by a suspected Yemen Houthi rebel drone early on Tuesday, authorities said, the latest assault in their campaign targeting vessels over Israel’s war on Hamas in the Gaza Strip. The attack happened west of the Yemeni port of Hodeida, and the projectile caused “slight damage” to the vessel’s …

The Central Bank of Nigeria (CBN) uncovered invalid foreign overdue claims totalling $2.4 billion, which have pressured the naira for long and spooked the currency market, Central Bank Governor Olayemi Cardoso said on Monday. Mr Cardoso said the discovery was made after an audit by the consultant that the Central Bank engaged brought several shady deals to light. After seven years of …

Central Bank of Nigeria (CBN) Governor Yemi Cardoso said the apex bank has discovered $2.4 billion  invalid forex outstanding claims pressuring the naira and causing anxiety in the currency market. Cardoso disclosed this in an interview with Arise Television on Monday. According to Cardoso, this was uncovered during an audit by the consultant the CBN hired, which exposed a number of …

Residents of Minna, the capital of Niger State on Monday morning blocked main roads in the city to protest the high cost of living. Women and young people were among the demonstrators heard shouting protest songs while police officers and other security personnel observed the situation.. The protesters said that the increase in food prices and the inadequate response from the government compelled …

The President, Nigerian Cancer Society (NCS), Dr Adamu Umar, has called on the Federal Government to incorporate comprehensive cancer services into National Health Insurance benefit packages to ensure Universal Health Coverage (UHC). Umar made the appeal at a news conference in Abuja to commemorate the 2024 World Cancer Day (WCD) with the theme “Close the Care Gap.” Annually celebrated around …

WASHINGTON — The United States and Britain struck 36 Houthi targets in Yemen on Saturday in a second wave of assaults meant to further disable Iran-backed groups that have relentlessly attacked American and international interests in the wake of the Israel-Hamas war. But Washington once more did not directly target Iran as it tries to find a balance between a forceful response and intensifying the conflict. U.S. Central Command …

Lingering crisis rocking Edo State ruling Peoples Democratic appears to have no end in sight as the Chairman of the three-man committee, Governor Seyi Makinde, who conducted the party’s state delegate election resigned from the position, according to report by Punch. Also, nine aspirants out of the 11 that would participate in the February 22 primary election were said to …

…Obaseki says Gov Makinde’s withdrawal doesn’t discredit process …Electoral c’ttee chair okays congress, satisfied with conduct Edo State Governor, Mr. Godwin Obaseki, has commended the conduct of the Edo State Peoples Democratic Party (PDP) 3 Ad-hoc Ward Congresses for election of delegates for the 2024 governorship primary election, but opposition within the party disagree. According to Obaseki, the conduct of …

Despite promises, the Transmission Company of Nigeria (TCN) recorded its first electricity system collapse in 2024. The incident has scuttled the distribution of electricity by the electricity distribution companies, DisCos, to all parts of the nation, the Vanguard reports. In a notice to its customers, the management of Abuja Electricity Distribution Plc (AEDC) said the system collapse occurred “at 11:21 …