China has criticised the UK government’s decision to nationalise British Steel, describing the move as a violation of the rights of its Chinese owner, Jingye Group, and warning that it could damage investor confidence in Britain. In a statement issued on Friday, China’s Ministry of Commerce said it was “firmly opposed” to the decision, arguing that the UK had unfairly taken control of the company under the guise of national security. The reaction follows Thursday’s announcement by the UK government that British Steel would be brought into public ownership to protect thousands of jobs and preserve the country’s steelmaking capacity.…
Author: Elvis Eromosele
…World Bank-backed initiatives target vulnerable households, schools, healthcare and displaced communities President Bola Tinubu has unveiled five major social and economic development programmes valued at about $3.05 billion, aimed at reducing poverty, strengthening healthcare and education, and improving the livelihoods of vulnerable Nigerians. The programmes, largely financed by the World Bank, were launched on Thursday at the Presidential Villa in Abuja. Tinubu was represented by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun. The initiatives are designed to complement the administration’s economic reforms by expanding access to healthcare, improving education outcomes, strengthening social protection and supporting…
The Lagos State Government has approved a harmonised academic calendar for the 2026/2027 session, requiring all public and private primary and secondary schools to operate on the same schedule. The move, announced by the Commissioner for Basic and Secondary Education, Jamiu Tolani Alli-Balogun, marks the first time both public and private schools across the state will follow a unified academic timetable. According to the government, the new calendar is designed to improve coordination across the education sector while giving parents, teachers and students a predictable school schedule. The 2026/2027 academic session will officially commence on Monday, September 14, 2026, following…
…Promises stronger returns as diversification strategy gathers pace Tantalizers Plc has unveiled an ambitious growth strategy anchored on fresh investments in entertainment, fisheries, technology and human capital, as the company seeks to build a more resilient business and deliver sustainable returns to shareholders. Speaking at the company’s 28th Annual General Meeting, Chairman Adam Nuru said the investments are part of a deliberate transformation plan aimed at reducing reliance on its traditional quick-service restaurant business while creating new revenue streams. According to him, the company’s strategy is designed to strengthen long-term profitability by diversifying earnings and improving operational resilience. “Our objective…
The United States is set to impose a four-year limit on the stay of most international students and exchange visitors under a new rule introduced by the Department of Homeland Security (DHS), ending a decades-old policy that allowed students to remain for the duration of their academic programmes. Announced on Thursday by the Trump administration, the policy will require holders of F and J visas to obtain federal approval to remain in the U.S. beyond four years, even if they have not completed their studies, are pursuing postgraduate programmes or are participating in work experience linked to their education. The…
Every few months, the script plays out with predictable pageantry in Abuja. Flanked by senior officials, development partners, and state governors, the federal government rolls out a historic, multi-billion-dollar initiative designed to lift millions out of poverty and cushion economic shocks. The latest iteration is a massive $3.05 billion development package, spearheaded by the HOPE and NG-CARES initiatives, heavily backed by loans from the World Bank. On paper, it is a masterclass in development planning, earmarking hundreds of millions of dollars for primary healthcare, foundational education, and smallholder farmers. But to the average citizen, these staggering figures do not trigger…
The Lagos Rail Mass Transit (LRMT) Blue Line has transported more than eight million passengers in just over 1,000 days of commercial operations, as construction of its Phase II extension recorded a major breakthrough with the installation of its first precast T-beam. The update was announced on Thursday by the China Civil Engineering Construction Corporation (CCECC) Nigeria, the contractor responsible for building, operating and extending the rail line. CCECC said the Blue Line has safely carried more than eight million commuters since passenger services began in September 2023, underscoring the growing role of rail transport in easing Lagos’ traffic congestion. The…
First HoldCo Plc has reached a historic milestone on the Nigerian Exchange (NGX), with its share price climbing to an all-time high of N87.25, pushing the financial services group’s market capitalisation above N3.8 trillion for the first time. The rally reinforces First HoldCo’s position as one of the best-performing banking stocks on the NGX this year, as investors continue to accumulate the stock despite broader market volatility. At the record share price, the company’s market value stands at approximately N3.83 trillion, making it one of the largest listed financial institutions in Nigeria. Only GT HoldCo and Zenith Bank currently command…
Olusegun Alebiosu, Managing Director and Chief Executive Officer of FirstBank of Nigeria Limited, has called on the Federal Government to take a leading role in expanding access to mortgage finance and accelerating the delivery of affordable housing across Nigeria. Speaking at the 20th Africa International Housing Show (AIHS) in Abuja, Alebiosu said stronger collaboration between government, financial institutions and private developers is essential to addressing the country’s growing housing deficit. Alebiosu argued that government intervention is indispensable if millions of Nigerians are to gain access to affordable housing. He noted that increasing the supply of housing would help moderate property…
Telecommunications company ntel has unveiled a new corporate strategy aimed at transforming the business into an integrated digital infrastructure, connectivity and real estate company. The strategy, branded “The Next Frontier,” marks a significant shift in the company’s business model as it seeks to diversify revenue streams, strengthen its telecommunications operations and unlock value from its infrastructure and property assets. Speaking at the launch, Soji Maurice-Diya, Managing Director and Chief Executive Officer of NatCom Development & Investment Limited (ntel), described the initiative as more than a corporate restructuring exercise. According to him, the strategy reflects the company’s commitment to building an…