Social media giant, Facebook, has hit a $1 trillion valuation, following a dismissal of two antitrust lawsuits against the company. Facebook’s stock closed higher on Monday at $355.64 per share which contributed to the trillion-dollar valuation, Business Insider reported. The rise came after a United States court dismissed complaints by the Federal Trade Commission and a group of state attorneys generals against the social networking company. The FTC has claimed that Facebook is exercising monopoly as the social media giant controls over 60% of the social-networking market. In the ruling of the case, US District Judge James Boasberg in Washington…
Author: Temitope Nlewemchi
A sexual and reproductive health expert, Dr. YemiAdeyemi has said that using sex toys could reduce stress and give relief from menstrual cramps. According to Adeyemi, sex toys can also help boost moods and release sexual tension. Speaking in an interview, the sexual reproductive health expert, however, warned that sex toys should not be shared because they could be a rich source of sexually transmitted infections. According to Health Shots – an online health information medium – sex toys can help reduce chances of STDs to almost zero, as there is no human intervention in its use and thus prevents…
The Kano Electricity Distribution Company has warned that meter deployment and installation by its field officials remain free and not for sale. A statement signed by KEDCO Head of Communications, Ibrahim Shawai, on Monday, in Kano, said the clarification had become necessary in view of the recent claims by some online platforms that customers in Kano franchise were made to pay ‘indirectly’ for meters. “This is totally out of place as we have never collected money for meter or installations. “It is as a result of our support for the Federal Government Mass Metering programme where thousands of meters have…
Former Deputy Governor of the Central Bank of Nigeria and former Presidential Candidate, Professor Kingsley Moghalu, has joined the advocacy for economic diversification, which he described as a matter of existential importance given the current realities in the Nigerian economy. In a paper titled: ‘Economic Diversification and the Wealth of Nations: Lessons and the Path Forward for Nigeria’, delivered at the 2021 Annual Conference of the Nigerian Economics Students Association (NESA) the University of Port Harcourt, on Thursday, Moghalu, pointed out that Nigeria had very little hope of escaping a poverty trap given the realities of a population of over…
Nigeria ranked 47th out of 182 countries on the Global Cybersecurity Index for 2020 and occupied the fourth position in Africa. The GCI is an initiative of the International Telecommunication Union, the United Nations specialised agency for Information and Communications Technology. It was first launched in 2015 by the ITU to measure the commitment of 193 ITU member states and the State of Palestine to cybersecurity. It was to serve as means to help the member states identify areas of improvement and encourage countries to take action, through raising awareness on the state of cybersecurity worldwide. The evolution of cybersecurity…
The Minister of Aviation, Hadi Sirika, has presented the concept note for Nigeria’s first aviation and aerospace university, as a provisional approval has been granted for the commencement of the institution. Also, the Executive Secretary, National Universities Commission, Prof. Abubakar Rashee, who received the concept note from Sirika in Abuja, announced that the university would be in place by the end of this month. Rasheed was quoted in a statement issued in Abuja on Friday by the Director, Public Affairs, Federal Ministry of Aviation, James Oduadu, as saying, “I can assure you that by the end of the month (July),…
The African Development Bank has stated that the risk of debt defaults is increasing among African countries. This statement was contained in the Strategy for Economic Governance in Africa, which was launched on Friday by AFDB. The economic strategic document stated that countries have developed debt vulnerabilities due to decline in economic output, which was triggered by certain policies and measures to curtail the COVID-19 pandemic, adding that public debts had exceeded 50 per cent of GDP. It stated, “Declining economic output as a result of containment measures against COVID-19 and policy measures to stimulate the economies have heightened debt…
The Kwara State Government on Friday in Ilorin inaugurated the Maternal, Perinatal Death Surveillance and Response committee to tackle the high cases of maternal and child mortality. The wife of the state governor, Dr. Olufolake Abdulrazak, inaugurated the committee at the Stakeholders Meeting on ending preventable deaths of mothers and newborns in the state. Mrs. Abdulrazak said that the maiden meeting was coming at a very important time when the present administration was leaving no stone untouched to ensure all citizens access to quality and affordable healthcare services. The governor’s wife, who stressed the need for ending preventable death of…
Director-General of the World Health Organisation, Dr. Tedros Adhanom Ghebreyesus has urged leaders of all countries to vaccine at least 10 percent of their population by September. The WHO DG said this on Friday in his opening remark at the media briefing on COVID-19. Speaking at the virtual briefing, the WHO boss said that this would protect health workers and those at most risk, effectively ending the acute stage of the pandemic and saving a lot of lives. “I have urged leaders across the world to work together to ensure that by this time next year, 70 percent of all…
South Sudan is experiencing a rapid decline in oil output, with its oilfields yielding less crude after reaching maturity, a senior government official said late on Thursday. At least five blocks “have already reached their peak and are on the decline”, Awow Daniel Chuang, Undersecretary in the Ministry of Petroleum, told Reuters. The country’s crude output now stands at 154,000 barrels per day (bpd) compared with 180,000 bpd in 2019. Crude reserves in the African nation are also declining, Chuang said, adding that the government and companies need to find ways to increase oilfields’ recovery rates to sustain the country’s…
The federal government has projected a rise to 4.2 per cent of the country’s Gross Domestic Product (GDP) in 2022. The Minister of Finance, Budget and National Planning, Zainab Ahmed, said this at the Public Consultation on the Draft 2022 to 2024 Medium Term Fiscal Framework and Fiscal Strategy Paper (MTFF/FSP) on Thursday. Mrs Ahmed said the GDP projected in 2021, to close at three per cent, had been adjusted downwards to close at 2.5 per cent. “In 2022, we are expecting an uptake to 4.2 per cent, then a dip to 2.3 per cent in 2023 and up to…
Nigerian lawmakers are calling for a future amendment to the Petroleum Industry Bill (PIB), recently passed by the national assembly for presidential assent. The executive bill was passed with some contentious issues bordering on funds for ‘frontier exploration’ and the host communities. Hon. Tajudeen Yusuf and Hon. Henry Nwawuba who spoke on Channels TV said while the bill may get the nod of the executive because it initiated it in the Ninth Assembly, it would be good to have the bill reworked to meet the aspirations of all the people, especially its critical stakeholders, in this case, the host communities.…
The Federal Government will, on Oct. 13, arraign the Managing Director (MD), Dana Air, Hathiramani Jacky Ranesh, in a Federal High Court, Abuja on allegations bordering on fraud. Justice Obiora Egwuatu fixed the date after counsel to the defendant, Ade Adedeji, SAN, told the court that the absence of his client in court was to the knowledge of the prosecution. Newsmen report that the arraignment of Ramesh and two others, in suit number CR/101/21, was in the cause list for Wednesday’s proceeding. The MD of Dana Air is the first defendant in the suit. Although other defendants in the matter…
Oyo State Government has approved the construction of an aviation fuel facility at the Ibadan airport, at the cost of N1.2 billion. Oyo State Governor, Seyi Makinde This is contained in a statement issued by Mr Taiwo Adisa, the Chief Press Secretary to Gov. Seyi Makinde, on Thursday in Ibadan. The statement said that the facility would enable airline operators to use Ibadan as their operational base. The facility, when constructed, will also ensure that the airport serves as an immediate alternative to the Lagos airport in case of weather or other challenges. The statement said that the approval for…
OPEC+ is moving towards gradually adding about 2 million barrels per day (bpd) to the oil market from August to December, an OPEC+ source told Reuters as the group eases back on output curbs amid a recovering global economy and an oil price rally. Monthly increases would be 0.4 million bpd under the plan, the source said, adding that an OPEC+ ministerial committee had proposed this to the wider group. Another source said Saudi Arabia and Russia, the biggest producers in the OPEC+ alliance, had reached a preliminary agreement. Responding to oil demand destruction caused by the COVID-19 crisis, OPEC+…
The minister of state for petroleum resources, Timipre Sylva, says the federal government’s decision to acquire equity in private refineries is to prevent fuel scarcity. He said this on Thursday in Abuja while receiving an award from a group called “Corruption Reporter.” The group said the award was conferred on him for his achievements in fighting corruption and the pursuit of transparency and accountability in the petroleum industry. On Tuesday, Mele Kyari, group managing director of the Nigerian National Petroleum Corporation (NNPC), confirmed that the federal government would acquire a 20 percent equity stake in the Dangote Refinery. The corporation…
The National Agency for Food and Drug Administration and Control has warned Nigerians against consuming Pure Tassie organic apple and blackcurrant imported from Australia, noting that it contains patulin, a dangerous toxin. The agency noted that the products are certified harmful for human consumption. The Director-General of NAFDAC, Prof. Mojisola Adeyeye, disclosed this on Tuesday, noting that the “Centre for Food Safety of Hong Kong’s Food and Environmental Hygiene Department warned against the consumption of Pure Tassie Organic Apple and Blackcurrant juice originating from Australia. “This was due to an unacceptable level of patulin (a mycotoxin) which had exceeded the…
The House of Representatives has urged the Federal Government, through the Ministry of Health, to eradicate fake and substandard foods and drinks in Nigeria. According to the lawmakers, the current security crisis in the country is linked to the widespread circulation and use of fake drugs and unwholesome drinks. The call by the lawmakers was based on a motion moved by a member, Henry Nwawuba, which the House unanimously adopted at the plenary on Wednesday. The motion was titled ‘Need to Stop the Production and Circulation of Unwholesome Drinks and Fake Drugs in Nigeria.’ The House, following the adoption, urged…
The Kaduna State Emergency Management Agency on Wednesday decried rise in open defecation in some communities across the state. Abubakar Hassan, Executive Secretary, KADSEMA, told the News Agency of Nigeria that the level of open defecation in some communities was worrisome. He said the environment was faced with health challenges due to the high level of open defecation around flood-prone communities, thereby exposing residents to diseases. “We have a serious health situation in our hands, you can see excreta everywhere close to wells, streams and with children playing inside,” he said. Hassan stressed the need to sensitise communities of the…
The amount spent on subsidising electricity every month in Nigeria is now about N30bn, the Federal Government has said. It disclosed that the government’s subsidy on electricity had been reduced by N20bn monthly following improvements in the collection of power tariffs by distribution companies. The government stated this in a document on the progress and overview of Nigeria’s power sector. The document was obtained by our correspondent from the Federal Ministry of Power in Abuja. In February this year, the Minister of Power, Sale Mamman, stated that the Federal Government was subsidising electricity supply across the country to the tune…