Witty Global blog

  The governorship candidate of the Peoples Democratic Party (PDP) in Enugu State, Peter Mbah, has won the 2023 governorship election in the state. Mr Mbah polled 160,895 votes to defeat his closest challenger, the Labour Party (LP) candidate, Chijioke Edeoga, who scored 157,552 votes. The candidate of the All Progressives Grand Alliance (APGA), Frank Nweke Jr, garnered 17,983 votes to come a distant third, while the candidate of the All Progressives Congress (APC), Uche Nnaji, placed fourth, with 14,575 votes. The Returning Officer for the election, Maduebibisi Iwe, announced the result at State Collation Centre of the Independent National Electoral Commission (INEC) on Wednesday night at exactly 10: 47 p.m. “That Mbah Peter Ndubuisi of the Peoples Democratic Party (PDP), having satisfied all the requirements of the law and scored the highest number of votes in the election, is hereby declared the winner of the election and is returned elected,” Mr Iwe declared. The returning officer,

The marketplace capitalisation of the Nigerian Exchange Limited continued to comprehend at the close of trading on Wednesday. The All-Share index moved 30 base factors to 54,936.Eleven from 54, 906.68 recorded on Tuesday. The marketplace cap moved to N29.927tn at the close of buying and selling, a zero.06 according to cent appreciation A total of 134,150,558 stocks well worth N1.330bn have been exchanged in 2,479 deals on the buying and selling ground. Despite the appreciation inside the market cap and ASI, the market sentiments have been poor with 14 stocks at the losers’ desk in comparison to nine at the gainers’ table. Atop the losers’ table had been NCR with a 9.69 in keeping with cent loss in its market price to close the day at N2.61, and FTN Cocoa misplaced 6.Ninety in keeping with cent to shut at N0.27 according to share. Third, at the gainers’ table was JapaulGold whose share misplaced 6.67 consistent with cent in its share value to shut at N0.28. On the gainers’ table had bee

  Nigerian singer, Rema has accomplished yet some other milestone in his profession after his hit track ‘Calm Down’ offering Selena Gomez charted at Number eight in Billboard’s Hot 100 this week. The  music has been on a steady climb-up from 109 on Billboard’s two hundred. For the    Nigerian track enterprise, this is a brand new hight as this is the primary ever Nigerian tune to chart at Top 10 in Billboard Hot a hundred’s history. The music also maintains making waves on different platforms, most notably Youtube in which it has collected over 400M perspectives. The artist’s album, Rave & Roses, has also stayed because the longest walking variety Nigerian album on Billboard’s Heatseekes Album Charts. 

  The global banking turmoil over the past two weeks following a series of lovely bank collapses in Europe and America, has proven that Nigerian banks need to be more vigilant and shield towards screw ups, a new report through Agora Policy, an Abuja-primarily based think tank, has said Despite a series of rescue programs for troubled lenders and the assurances of governments and economic regulators, worries about the fitness of the global economic gadget persist in the aftermath of the March 10 crumble of Silicon Valley Bank (SVB). Financial experts stated what came about to SVB is in a extensive sense very much like what's happening with Credit Suisse. According to the report, the worries inside the worldwide banking device aren't confined to SVB and Credit Suisse as many traders are asking comparable questions on many different banks. As a signal of those nerves, the Nasdaq bank index, an index which tracks the inventory costs of a number of the biggest banks, turned into dow

N igerians have increasingly grew to become to a as soon as-spurned virtual foreign money to transact, after a chaotic demonetization coverage gave upward push to a scarcity of banknotes and reinforced demand for alternative fee strategies. The value of eNaira transactions has surged 63% to 22 billion naira ($47.7 million) this 12 months, at the same time as approximately 13 million so-referred to as e-wallets have been opened, a extra than 12-fold growth from October, said Godwin Emefiele, the Central Bank of Nigeria’s governor. The amount of forex circulating in Africa’s biggest economy has meanwhile dropped to approximately 1 trillion naira from 3.2 trillion naira in September, he informed newshounds in Abuja, the capital, on Tuesday. The country changed into hit with the aid of an acute cash scarcity late final 12 months after the imperative financial institution started out replacing old two hundred-, 500- and 1,000-naira notes with new ones in a bid to mop up extra liquidity, rei

  T he Executive Director, Rainoil Limited, Mr. Emmanuel Omuojine, has said the finest utilisation of fuel is the guarantee to attaining energy protection and fairness in Africa. Speaking on the recently concluded Africa Refiners and Distributors Association Conference, ARDA Week 2023, held in South Africa, Omuojine, in his presentation titled, “The Critical Role of Liquified Petroleum Gas in Africa Energy Transition”, said that regardless of the growth in renewable energy projects, oil and fuel will stay a sizeable a part of Africa’s electricity mix, with gasoline accounting for at the least 25% of this by way of 2050. He stated Africa has over 620 trillion cubic feet of natural gas reserves with a view to be critical to its energy protection. He said that for Nigeria to harness the benefits of its power transition is to completely implement the Petroleum Industry Act (PIA) in particular as it pertains to the most desirable utilisation of the u . S .’s significant gas reserves. Focusi

  I nvestors advantage N10bn as market rebounds – NGX Nigerian Exchange Limited stated it en ded up buying and selling on Tuesday, with the inventory market gaining N10 billion for buyers. The equities market capitalisation received N29.909 trillion, representing 0.03 in step with cent, the same percentage because the All Share Index, which accelerated to fifty four,906.Sixty five from fifty four,886.04 recorded on Monday. On Tuesday, a complete extent of 127.744 million stocks really worth N1.586 billion became exchanged in 2,987 offers. The inventory marketplace sentiments have been flat, as there were 12 equities on the gainers’ and losers’ tables at the near of the day’s buying and selling. Linkage Assurance, Wapic and Champion led the gainers’ table, which won 9.76 according to cent, 7.89 in line with cent and 4.26 in line with cent to shut at N0.45, N0.41 and N4.Ninety, respectively. Ikeja Hotel became atop the losers’ desk, with a nine.Sixty five percent loss to close trading at