Jeff Bezos, the founder of Amazon, has sold around $2 billion worth of Amazon stock in a calculated move that is consistent with his previously stated intention to sell off shares. According to a recent company filing, Bezos executed the sale of around 12 million shares over a two-day period, following his decision to gradually reduce his stake in the online retail and cloud services giant. The transaction, which occurred on Wednesday and Thursday, comes on the heels of Amazon’s disclosure last week regarding Bezos’s intention to sell up to 50 million shares in the company. This planned divestment, subject…
Author: Omolemi Eboisetale
Lagos, Nigeria has been added to the shortlist of cities that American hip-hop icon and fashion mogul Kanye West plans to tour in 2024, exciting African fans with his extensive career in music and design. Kanye West revealed the possible tour locations on his Instagram handle on Wednesday, February 7, in conjunction with the release of his highly anticipated album “Vultures,” which he co-wrote with TY Dolla $ign. The Grammy-winning artist disclosed plans for the Vultures world tour, with proposed tour dates set for Eko Energy City in Lagos on December 14, 2024, and Nyayo International Stadium in Nairobi, Kenya,…
At the African Cup of Nations (AFCON), final between Nigeria’s Super Eagles and the hosts in Abidjan, Ivory Coast, Nigerian President Bola Tinubu has announced that he will not be in attendance. To assist the team, the Nigerian delegation will be led by Vice President Kashim Shettima. Tinubu’s absence comes as a surprise, as he was initially expected to be present for the crucial match. However, a spokesperson for the president, Stanley Nkwocha, stated that Tinubu believes Vice President Shettima’s presence demonstrates the government’s steadfast support for the team’s success. The matchup between Ivory Coast and Nigeria holds significance, as…
The Christian Association of Nigerians in the 19 Northern States and Abuja has raised alarm over the worsening economic conditions and escalating security challenges in Nigeria, expressing deep concern for the plight of ordinary citizens. In a statement released by the Northern Christian Association’s Secretary-General, Elder Sunday Oibe, the organization highlighted the unbearable suffering experienced by Nigerians due to soaring prices of essential commodities, transportation, goods, and services.The statement highlighted the negative effects of these economic downturns on the general public, with many people finding it difficult to pay for basic necessities. Moreover, the association also emphasized the dire security…
The postponement of Senegal’s presidential election has deepened political unrest in the region, as the Economic Community of West African States (Ecowas), faces increasing threats to its unity and democratic values. West African ministers convened in Abuja for an emergency meeting, addressing threats of withdrawal from military-led Burkina Faso, Mali, and Niger in addition to Senegal’s decision to postpone its next elections. Senegal’s President Macky Sall, amidst growing opposition and civil society protests, announced the postponement of the February 25 election to December 15. This move has sparked outrage and raised concerns about the country’s democratic foundations. Critics, including members…
The United States, Zambia, and the Africa Finance Corporation (AFC), have spearheaded efforts to bolster investment in the Lobito Corridor. The Lobito Corridor, a pivotal economic artery connecting the Democratic Republic of Congo (DRC) and Zambia with global markets through Angola, took center stage at the Partnership for Global Infrastructure and Investment (PGI) Lobito Corridor Private Sector Investor Forum held in Lusaka. The forum, graced by His Excellency Hakainde Hichilema, President of Zambia, Amos Hochstein, Senior Advisor to President Biden, and Samaila Zubairu, President and CEO of AFC, witnessed the convergence of over 250 prominent business and government leaders from…
Former Minister of Works and Housing, Babatunde Fashola, has called for a constitutional review in Nigeria to give states the authority to set their own minimum wages. Citing the differences in resources and cost of living between states, Fashola underlined the need of moving the authority over wages from the exclusive to the concurrent list. Fashola made these remarks during the presentation of his book titled “Nigerian Public Discourse: The interplay of empirical evidence and hyperbole” in Lagos.He called for Nigerians to adopt a new perspective and attitude in addition to the current discussion about political and administrative restructuring. Fashola…
In Rivers State, fifteen camps with extensive, illegal refining operations have been discovered by men and officers of the Nigerian Navy. Personnel from the Nigerian Navy Ship (NNS) Pathfinder led the operation on Friday at the centre of the Bokokiri creek in Ke Community of Degema Council, state. The operation is a part of Operation Delta Sanity. Speaking with reporters about the discovery operation, Commodore Desmond Igbo, Commander of NNS Pathfinder, revealed that each camp was equipped with six cooking pots and ovens, containing over 30 thousand liters of crude oil products. The economic saboteurs meticulously selected remote locations within…
President Bola Tinubu has signed into law the Electricity Act (Amendment) Bill, 2024, aimed at addressing the concerns of host communities and promoting their development. The bill, sponsored by Honourable Babajimi Benson representing Ikorodu federal constituency of Lagos State, received unanimous approval from both the House of Representatives on July 27, 2023, and the Senate on November 14, 2023. This was disclosed in a statement released on Friday by Ajuri Ngelale, the President’s Special Advisor on Media and Publicity. According to him, five percent of the actual annual operating expenditures of power generating companies (GENCOs) from the preceding year will…
Another power outage at the Murtala Muhammed International Airport (MMIA) was reported by the Federal Airports Authority of Nigeria (FAAN) on Friday. The three-minute power outage at the International Airport approximately a week ago sparked controversy, which FAAN sought to avoid by making the announcement. The most recent outage, according to FAAN spokesman Obiageli Orah, would only last a few minutes. The agency said that the power outage was caused by them testing their power equipment to make sure it operates properly on their website. The message read, “To serve you better, we’re testing our power equipment at Murtala Muhammed…
Members of the Benue State House of Assembly have vehemently condemned an alleged assassination attempt on the Speaker, Aondoona Dajoh. The condemnation came during a plenary session on Wednesday, following the assembly’s resumption from recess. The motion to denounce the dastardly act was raised by Elias Audu, representing Gwer East State Constituency, and received unanimous support from the members. They called for a thorough investigation by relevant authorities into the incident and urged for swift action to bring the perpetrators to justice. Furthermore, the assembly recommended the immediate suspension and replacement of the suspected assassin, who they allege…
As clashes between the Armed Forces of the DRC (FARDC), and the non-state armed group M23 has resulted in a catastrophic humanitarian crisis, the Democratic Republic of the Congo (DRC), is dealing with an increase in violence. Save the Children International (SCI) reported that since February 2nd, 2024, the conflict has forcibly displaced over 150,000 individuals, with more than half of them being children. According to SCI, about 78,000 children have been uprooted from their homes in the past week alone, adding to the staggering number of 25 million people in dire need of humanitarian assistance in the country. This…