In a groundbreaking move, Netflix has finalized a substantial $5 billion deal to stream live wrestling shows on its platform. This strategic agreement marks Netflix’s foray into the world of live sports entertainment, signaling a significant shift in the streaming giant’s content offerings. The deal, which involves the acquisition of exclusive rights to broadcast live wrestling events, positions Netflix as a major player in the competitive sports streaming landscape. By venturing into the realm of live sports, Netflix aims to diversify its content portfolio and attract a broader audience, tapping into the widespread popularity of wrestling as a spectator sport.…
Author: Temitope Nlewemchi
The Nigerian Society of Engineers (NSE) is advocating for a Grade 9 entry level for engineers in the civil service. This proposal aims to recognize and elevate the importance of engineering expertise within the public sector, emphasizing the need for specialized skills and knowledge in engineering roles. The push for a Grade 9 entry level underscores the NSE’s commitment to promoting the value of engineers in government service and facilitating the recruitment and retention of qualified engineering professionals. Elevating the entry level for engineers recognizes the specialized education and training required for engineering roles and positions these professionals at a…
In a significant move toward environmental sustainability, the Lagos State Government has announced a ban on the use of single-use plastics and Styrofoam, effective immediately. This proactive measure aims to curb the environmental impact of disposable plastics and promote responsible waste management practices in the state. The ban on single-use plastics and Styrofoam aligns with global efforts to reduce plastic pollution and its detrimental effects on ecosystems, marine life, and human health. Lagos State, as a major economic and populous hub, is taking a decisive step toward creating a cleaner and more environmentally conscious urban environment. Single-use plastics, such as…
In a significant operation, the National Drug Law Enforcement Agency (NDLEA) has intercepted a massive haul of illicit substances, including 916 kilograms of cocaine and Colorado, smuggled into the country from Canada and South Africa. The successful interception underscores the agency’s commitment to combating drug trafficking and securing the nation against the inflow of harmful narcotics. The seized quantity of cocaine, a highly potent and addictive stimulant, represents a substantial dent in the operations of drug traffickers seeking to exploit Nigeria as a transit point. The interception also highlights the collaborative efforts between Nigerian and international law enforcement agencies in…
A fire outbreak has been reported at the renowned 14-storey Mandilas Building located in Lagos Island. The incident, which poses a significant threat to property and public safety, has prompted emergency response efforts from firefighting and rescue teams. The Mandilas Building, a prominent structure in Lagos, is known for housing commercial and business establishments. The fire outbreak raises concerns about the potential impact on businesses, infrastructure, and the safety of occupants and nearby residents. Emergency services are actively engaged in efforts to contain the fire and ensure the safety of everyone in the vicinity. The cause of the fire and…
In a stringent response to environmental sanitation violations, the Lagos State Government has taken decisive action by sealing the Katangua and Oke Afa markets. The move comes as a result of identified gross violations of environmental sanitation standards in these markets, emphasizing the government’s commitment to ensuring a clean and healthy environment for residents. The closure of Katangua and Oke Afa markets is part of the government’s efforts to enforce compliance with environmental regulations and promote sustainable waste management practices. Markets play a crucial role in the daily lives of residents, and ensuring their adherence to sanitation standards is paramount…
In a significant milestone for maritime infrastructure in Nigeria, the Lekki Deep Sea Port has achieved a noteworthy feat by receiving the largest container ship to navigate Nigerian waters. The vessel, boasting a capacity of 13,092 Twenty-Foot Equivalent Units (TEUs), marks a momentous occasion for the maritime industry and underscores the strategic importance of the Lekki Deep Sea Port as a key player in enhancing trade and logistics capabilities. The successful handling of the 13,092 TEUs vessel at the Lekki Deep Sea Port signals a significant advancement in the port’s operational capacity. This achievement positions the port as a major…
In a move to support economic recovery and business sustainability, the Federal Government has announced plans to launch an intervention program specifically designed for Micro, Small, and Medium Enterprises (MSMEs) as well as large businesses. This initiative underscores the government’s commitment to providing targeted support to businesses of varying scales, fostering growth, and mitigating the economic impacts of challenges faced by these enterprises. The intervention program is expected to encompass a range of measures aimed at addressing the unique needs and challenges encountered by both MSMEs and larger businesses. Such measures may include financial support, capacity-building initiatives, regulatory assistance, and…
In response to the prevailing security challenges, the Federal Government has announced plans to establish a joint security outfit dedicated to addressing insecurity in Abuja, the nation’s capital. This proactive initiative aims to enhance security measures and ensure the safety of residents and visitors in the capital city. The decision to set up a joint security outfit underscores the government’s commitment to tackling security concerns head-on and fortifying the nation’s capital against potential threats. Abuja, as the political and administrative hub of Nigeria, holds strategic importance, necessitating robust security measures to safeguard lives and property. The joint security outfit is…
In a significant development, the Nigerian Export Processing Zones Authority (NEPZA) and the Cross River State Government have announced a strategic partnership to revitalize the Tinapa Free Trade Zone. This collaborative effort aims to breathe new life into the economic potential of the Tinapa Free Trade Zone, fostering trade, investment, and economic growth in the region. The Tinapa Free Trade Zone, located in Cross River State, has been a prominent economic zone with vast potential. However, in recent years, challenges and underutilization have hindered its full capacity. The partnership between NEPZA and the Cross River State Government signals a commitment…
In a notable move, Bola Tinubu’s expressed preference for lower interest rates has set the stage for a potential test of the Central Bank of Nigeria’s (CBN) stance on tightening monetary policy. This advocacy by the influential political figure signals a nuanced approach to economic policy, particularly in the context of managing interest rates to stimulate growth and navigate economic challenges. Tinubu’s call for lower interest rates aligns with a broader economic strategy that emphasizes the importance of making credit more accessible to businesses and individuals. Lower interest rates can stimulate borrowing, investment, and overall economic activity. However, the CBN’s…
In a challenging development, the Federal Government is reportedly encountering difficulties in redeeming promissory notes, with the Central Bank of Nigeria (CBN) allegedly declining a request for Ways and Means overdraft. This situation raises concerns about the government’s ability to meet financial obligations and underscores the complexities within the nation’s fiscal landscape. Promissory notes, often issued to settle government debts and liabilities, play a crucial role in managing financial obligations. The reported refusal of the CBN to grant a Ways and Means overdraft, a mechanism through which the government can access funds from the central bank, adds a layer of…
In a significant move aimed at bolstering economic development, Governor Otti has announced the appointment of eminent personalities, including Sanusi and Okonjo-Iweala, along with 17 others, as members of the Abia Economic Council. This strategic initiative underscores the state government’s commitment to harnessing expertise and fostering collaboration to drive economic growth and prosperity in Abia. The newly constituted Abia Economic Council brings together a diverse group of individuals with proven track records in various sectors, including finance, business, and public service. Among the notable appointees are Sanusi, a respected figure in financial and economic circles, and Okonjo-Iweala, a globally acclaimed…
In a recent assessment, Fitch Ratings has reported that the Central Bank of Nigeria (CBN) is still short of the required amount to clear the forex backlog. This revelation underscores the ongoing challenges faced by the central bank in managing the demand for foreign exchange and addressing the backlog of forex requests. The forex backlog has been a persistent concern, with businesses and individuals experiencing delays in obtaining foreign exchange for various transactions. Fitch Ratings’ analysis sheds light on the extent of the shortfall, indicating that the CBN is yet to meet the full demand for forex, leading to continued…
In a significant economic development, foreign investments from countries visited by key Nigerian figures, namely Bola Tinubu and Kashim Shettima, witnessed a sharp decline of 62.4% during the third quarter of 2023. This stark decrease in foreign investments raises questions about the potential impact of diplomatic engagements and the overall attractiveness of Nigeria as an investment destination. The data, sourced from official reports and economic analyses, indicates a substantial downturn in foreign investments from countries visited by Bola Tinubu and Kashim Shettima, two influential figures with active roles in Nigerian politics and international relations. While the reasons behind this decline…
In a surprising turn of events, a recent survey conducted by Infostride News indicates that food prices in Nigeria have bucked the traditional trend of a January demand lull and instead, have experienced a general rise. This unexpected surge in prices during a period that typically sees decreased consumer demand after the holiday season raises questions about the underlying factors contributing to this phenomenon and its potential implications for the economy. Historically, January is characterized by a decline in consumer spending, often attributed to reduced purchasing power after the festive season. However, the Infostride News survey brings attention to a…
In a notable move, Taiwo Oyedele has urged states and Local Government Areas (LGAs) across Nigeria to suspend what he termed as ‘nuisance taxes.’ The call comes as part of a broader initiative to streamline taxation policies and alleviate the burden on businesses and individuals in various regions. Taiwo Oyedele, a prominent figure in the advocacy for efficient and business-friendly tax systems, emphasized the need for a reconsideration of certain taxes that may be deemed unnecessary or burdensome. The goal is to create a more conducive environment for economic growth and development, particularly in the face of ongoing challenges. “We…
In a significant address at the Kampala Non-Aligned Summit, President Bola Tinubu advocated for equal access to capital for developing nations. Highlighting the importance of financial inclusivity on the global stage, President Tinubu emphasized the need for a fair distribution of capital resources to support the economic growth and development aspirations of nations that are still in the process of advancement. Speaking before an international audience, President Tinubu underscored the challenges faced by developing nations in accessing capital for critical projects and initiatives. He articulated the importance of a more equitable financial landscape that allows all countries, regardless of their…
In the aftermath of the tragic explosion in Ibadan, the Federal Government has disclosed that it is eagerly awaiting a forensic report to determine the actual cause of the incident. The explosion, which occurred on [date], resulted in significant damage to property and raised concerns about safety protocols and infrastructure integrity in the affected area. The statement from the Federal Government emphasizes the importance of a thorough investigation to ascertain the root cause of the explosion. Officials have reiterated their commitment to transparency and accountability in handling such incidents, acknowledging the need for comprehensive information to prevent future occurrences and…
In a somber revelation, the Federal Road Safety Corps (FRSC) has disclosed a staggering toll of road crash fatalities, with 5,081 lives lost across the nation in the year 2023. This alarming statistic underscores the pressing need for intensified efforts to enhance road safety and reduce the frequency and severity of accidents on Nigerian roads. The FRSC, in its official statement, expressed deep concern over the significant loss of lives and the devastating impact on families and communities. The report, released by the agency, provides a comprehensive overview of the road crash data for the year, highlighting the need for…