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MTN Nigeria is set to roll out its Fourth Generation Long Term Evolution (4GLTE) broadband services latest by July 2016 in selected cities, using the 800MHz frequency acquired from Visafone Ltd earlier this year. MTN plans to have about 1,500 LTE collocated...

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IMF cuts sub-Saharan Africa growth forecast to 3% due to economic turbulence in Nigeria and South Africa

Economic growth in sub-Saharan Africa will slow to 3 per cent in 2016 as much of the continent reels from low commodity prices, the International Monetary Fund has warned. The revised growth forecast is largely due to economic turbulence in Nigeria and South Africa, the region’s two largest — and currently among the weakest — economies. If they are removed from the calculations, the 2016...

Nigeria’s economic crisis deepens as 74 investors exit stock market

The country’s troubled economy further bled last week as over 74 foreign investors in equities and Government (FGN) Bond markets left its shores. Published data on forex disbursement last week showed that investors divested $6.97 million through Stanbic IBTC Bank Plc, representing over 50 per...

2016 Budget Implementation will Start In Few Days – Osinbajo

The Federal Government has re-assured Nigerians that the 2016 budget is expected to go into full operations in the next few days. This assurance was given by Vice President Yemi Osinbajo who was a guest speaker at the 12th edition of ‘The Platform’, an annual national...

Africa’s Biggest Economy downgraded by Moody’s to B1 from Ba3

Nigeria and Gabon were cut due to “the prospect of lower-for-longer oil prices” The credit ratings of Nigeria and Angola, Africa’s two biggest oil producers, were among four countries downgraded by Moody’s Investors Service, citing the negative impact depressed...

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30% of Nigerian population tested positive to malaria in 2015 – NIMR

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The Nigeria Institute of Medical Research, NIMR, Lagos, has said that not less than 51 million Nigerians, equivalent to 30 percent of the population, tested positive to the malaria parasite in 2015, even...

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Gene therapy offers hope of blindness cure

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A genetic therapy has improved the vision of patients who would otherwise have gone blind. A clinical study by British scientists has shown that the improvement is long-lasting and so the therapy is suitable to be offered as a treatment. The researchers will apply for approval to begin trials to treat more common forms of blindness next year. The therapy...

Ginger gene helps you to look two years younger

Ginger people have long been the butt of unfair jokes, but a new study suggests that when it comes to ageing gracefully, they may be having the last laugh. Scientists in The Netherlands have discovered that a gene which keeps people...

Early Retirement May Lead To Dying Early, Study Says

If you are 65 years old and plan to retire, working for a few more years may actually help you live longer, a new study suggests. A team of researchers from Oregon State University has found that retiring early may increase the chances...

Spanking damages Kids’ mental health

Children who are spanked are more likely to defy their parents, behave anti-socially and experience increased aggression and mental health problems. Those are the findings of a new meta-analysis of 50 years of research on spanking carried...

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Ondo PDP: Court Reinstates Odimayo As Ode-Irele State Constituency Winner

AAUA Vice Chancellor, Prof. Femi Mimiko (1)

The crisis rocking the Ondo State chapter of the Peoples Democratic Party (PDP) appears to be far from over. A Federal High Court sitting in Abuja has reinstated Mr Gbadebo Odimayo as the winner of State...

Senator Theodore’s Bill for Food Security passes second reading

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A Bill for Food Security in Nigeria which was sponsored by Senator Theodore Orji (PDP), Abia Central Senatorial District has passed second reading at Tuesday’s plenary. In his lead debate, Orji submitted...

NANS threatens Education Minister over sacked VCs

The National Association of Nigerian Students, NANS, has issued a 14-day ultimatum to the Minister of Education, Mallam Adamu Adamu to reinstate the 13 Vice Chancellors who were improperly removed from...

Group kicks against Umar’s insistence in trying Saraki

A group, Youths for Total Change, has queried the rationale behind the insistence of the Chairman of the Code of Conduct Tribunal, Justice Danladi Umar, to sit over the trial of the President of the Senate,...

FG to pay subsidy on PMS

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The Federal Government said it would pay subsidy on Premium Motor Spirit from the recoveries made in the first quarter of 2016. This is contained in the latest Petroleum Product Pricing Regulatory Agency...

Nigeria seeks N884bn compensation from Shell over 2011 Bonga Oil spills

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President Muhammadu Buhari has authorised that the government of the Federal Republic of Nigeria and Attorney General of Federation and Minister for Justice alongside National Oil Spill Detection and Response...

W. Africa Crude-Market quiet as some buyers push for lower diffs

* Spot trading slowed as some buyers pressed for lower differentials for Angola’s crude. * Nigerian spot trading was expected to pick up over the coming week now that Indian tenders had been awarded. *...

Oil prices hit new 2016 highs despite lingering excess

* Weakening dollar, falling U.S. output lift market * Venezuela output to fall, state may face default -analysts * Saudi output could hit 10.5 million bpd this summer * Tankers with unsold oil slow to...