Mudashiru Obasa has been re-elected as the Speaker of the Lagos State House of Assembly. His return follows the resignation of Mojisola Meranda, who stepped down from the position with immediate effect. Obasa was reinstated during the plenary session on Monday. Earlier in January, Obasa had been impeached by members of the Assembly due to several fraud-related accusations. Further details will...
MTN Nigeria reported a loss of N400.44 billion after tax for the year ending December 31, 2024, primarily due to the devaluation of the naira, which increased foreign exchange losses and negatively impacted the company's earnings. This loss, revealed in the company's audited financial statements on Thursday, marks a 192% increase from the N137.02 billion loss recorded in 2023. The...
President Bola Tinubu has put the brakes on the National Population Commission’s (NPC) ambitious N942 billion budget for the long-awaited national housing and population census. The verdict? Too expensive. Insiders at the February 24, 2025, meeting at the State House revealed that Tinubu was firm on cost-cutting measures, suggesting a more budget-friendly approach. His solution? Deploy...
The Nigerian Police Force has advised the Osun State Government to immediately suspend the upcoming local government elections for public safety and national stability. This recommendation follows intelligence reports indicating a high likelihood of violence and significant security threats if the elections proceed. Credible sources suggest that various groups, including political...
Jumia’s liquidity position improved to $133.9 million, helped by net proceeds from an at-the-market offering in August 2024. This reversed a decline of $106.9 million recorded in 2023. Net cash flows used in operating activities also showed improvement, reducing to $57.2 million from $73.0 million in the previous year. According to Jumia, key usage metrics improved in the fourth quarter,...
