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Instablog9ja
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Senate President, Godswill Akpabio, in another public gaffe on Tuesday, said nobody would recognise Nigeria again by the time President Bola Tinubu completes his “seven years” in office, obviously gifting the latter a second term. Akpabio weeks ago had said the old Nigerian national anthem was responsible for heightened banditry and insecurity in the country.
In his latest address, Akpabio on Tuesday told Nigerians not to worry about the challenges facing Nigeria but only pray for the success of the Tinubu’s administration, saying it would pay off in the next seven years. Speaking during the flag-off of the Kugbo Bus Terminal in Abuja on Tuesday, Senator Akpabio said, “I have no doubt that by the time the president is through with his tenure in the country, seven years from today, many people will not recognise FCT, they will not recognise Nigeria again.
“So, all I can say is: let us continue to pray for him and be hopeful that the challenges you see today, tomorrow, you will see them no more. He did it in Lagos and today, Lagos is one of the best; one of the largest economies in Africa when we are talking about cities.” On the project, the lawmaker said, “This is for me another major wonder of President Bola Ahmed Tinubu’s administration. This is a way to cater to a city of this nature. This is a way to cater to the people of the area councils, the FCT residents and visitors alike.”
Akpabio, who also extolled President Tinubu for picking former Rivers State Governor, Nyesom Wike as the FCT Minister further said, “So, I believe that you are a square peg in a square hole and I must thank the President for having the eyes to pinpoint those who can perform and bringing them.”
Instablog9ja
2 hrs
11
TV Host, Morayo Afolabi-Brown, has sentlove to actress Iyabo Ojo following her recent tussle.
She said all some of us saw was a woman with noble intentions whose actions may have been misconstrued. Either way, no one is perfect, absolutely no one. No matter what this season looks like or sounds like, just know there are positive women all over the world, sending you love.
Click to watch
Instablog9ja
3 hrs
9
A writer has revealed that as a Christian, doing traditional wedding with someone does not give you licence to sl££p with them.
She added that Only the Church Wedding gives you the full right & licence to have s+x with them.Your marriage must be blessed by God & the brethren being witness of this. Stop f%rnicating.
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Investopedia
7 hrs
10
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U.S. financial markets will be closed on Thursday in observance of Independence Day.
Stock and bond trading will end early Wednesday afternoon ahead of the July 4 holiday.
Markets will operate on normal hours this Friday. The June jobs report will be released at 8:30 a.m. ET on Friday. Analysts' median forecast expects that 200,000 non-farm payroll jobs were added last month, with unemployment remaining from May levels at 4%.
After this week, there's only one more summer trading holiday: Labor Day, on Monday, Sept. 2.
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Gold Shines So Far In 2024 As Central Banks Invest Heavily
Gold Has Been One Of The Best-perfo...
Investopedia
11 hrs
12
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Gold has been one of the best-performing global assets of 2024, with central banks driving significant demand.
Central banks, led by those in China, Turkey, and India, added more than 1,000 metric tons of gold in both 2022 and 2023, according to World Gold Council's 2024 Central Bank Gold Reserves report published in June, and they haven’t slowed down so far this year.
Global official gold reserves increased by 290 metric tons in the first quarter of this year, the largest first-quarter increase since at least 2000 and 69% higher than the five-year quarterly average, according to the World Gold Council.
In May, central banks reported buying 10 metric tons of gold, according to the International Monetary Fund (IMF) and other sources. What’s more, the 2024 Central Bank Gold Reserves Survey, conducted between February and April, found that 29% of central bank respondents planned to increase their gold reserves over the next 12 months.
This plan is driven by “a desire to rebalance to a more preferred strategic level of gold holdings, domestic gold production, and financial market concerns including higher crisis risks and rising inflation,” according to the council.
Beyond central banks, North American professional investors also have upped their gold holdings and reaped rewards from higher prices. A survey of 525 such investors, in a separate World Gold Council report from late June, found that 85% reported an allocation to some type of gold investment in 2023, compared with 69% in 2018 and 76% in 2019. The report didn't include data for 2020 to 2022.
These professional investors "view gold as an excellent portfolio diversifier and inflation hedge, and agree that it reduces portfolio risk,” the council said.
The spot price of gold has increased 12.7% year-to-date in 2024, ranking it among the top-performing assets. As of Tuesday at 2 p.m. ET, the price of gold was roughly $2,324, about 5% below its all-time high set in May.
The World Gold Council said in its midyear report released Tuesday that it believes that the current price “broadly reflects consensus expectations for the second half of the year,” but noted a case for the metal to outperform.
“The global economy, as well as gold, seem to be waiting for a catalyst,” the council said. “For gold, we believe the catalyst could come from falling rates in developed markets, that attract Western investment flows, as well as continued support from global investors looking to hedge bubbling risks amid a complacent equity market and persistent geopolitical tensions.”
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Read more on Investopedia
Instablog9ja
12 hrs
13
The Nigerian National Petroleum Company (NNPC) Limited has declared a state of emergency regarding crude oil production in Nigeria.
The Group Chief Executive Officer of the NNPCL, Mele Kyari, made this known on Tuesday, July 2, 2024, at the inaugural event of the 23rd edition of the Nigeria Oil and Gas Conference and Exhibition (NOG Energy Week).
He said the company is in possession of the right tools to combat the factors working against oil production in Nigeria and would work with all partners and stakeholders in ensuring the battle is won.
He disclosed that a detailed analysis of assets revealed that Nigeria could conveniently produce two million barrels of crude oil per day without deploying new rigs but identified the major impediment to achieving this as the inability of players to act in a timely manner.
“We have decided to stop the debate. We have declared war on the challenges affecting our crude oil production.
War means war. We have the right tools. We know what to fight. We know what we have to do at the level of assets. We have engaged our partners. And we will work together to improve the situation,” he said.
The “war” will help NNPCL and its partners to speedily clear all identified obstacles to effective and efficient production, such as delays in procurement processes, which have become a challenge in the industry,” Kyari said.
