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Islamic singer Ibraheem Labaeka had resigns as Kwara Governor’s Special Assistant.

He said he is tired of taking a salary for doing nothing .

He added Having served in this capacity for a period of 1 year and 7 months. wish to respectfully tender my resignation.

Your Excellency, as you may recall, I was offered an appointment to serve as your Special Assistant. Artist, on 6th January 2023. I accepted the offer because I saw it as a call to service and an opportunity to showcase my talents. Regrettably. I have not been able to achieve any of these things. Aside from the fact that I don’t have a specific schedule of duty, circumstances have not availed me the opportunity to perform my responsibilities maximally.

Therefore, since my appointment is based on public trust. I cannot continue to break that trust by taking a salary for doing nothing.

As an Islamic cleric, it is against my beliefs, and I haven’t been at peace with myself. So. I want my salary to be stopped immediately.

I am grateful for the confidence reposed in me, and I hope that one day. I will be abie to fully utilize my talents for the development of our state.

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Investors will be focused on whether Adobe (ADBE) can keep its artificial intelligence (AI)-driven momentum when the software maker reports after the bell; August wholesale prices are due; SpaceX Polaris Dawn mission completes first commercial spacewalk; Norfolk Southern (NSC) fires Chief Executive Officer (CEO) Alan Shaw over a relationship with its legal chief; and China weakness sent global oil demand growth in the first half of the year to its lowest since the pandemic, the IEA says. U.S. stock futures are edging higher after major indexes surged Wednesday on a rally by Nvidia (NVDA). Here's what investors need to know today.

Adobe (ADBE) is expected by analysts to post rising third-quarter revenue and earnings from the year-ago period when it reports results after the bell, partly fueled by demand for artificial intelligence (AI). Analysts are projecting quarterly revenue of $5.37 billion, up 10% year-over-year, and profit of $1.57 billion, up 12%, according to estimates compiled by Visible Alpha. The company could also provide updates on its AI integration and monetization efforts.

The Producer Price Index (PPI) for August is due at 8:30 a.m. ET, likely reinforcing investor expectations of an interest-rate cut by the Federal Reserve at its meeting next week. Sticky rents, even as overall consumer inflation cooled in August, has dampened expectations of an aggressive cut by the Fed. Economists surveyed by and expect wholesale prices to have grown monthly by 0.2% in August, up from 0.1% in July, while "core" PPI—which excludes volatile food and energy prices—is also seen having grown by 0.2%, down from 0.3% last month.

The astronauts on board the Polaris Dawn flight from SpaceX that launched earlier this week spent time outside of their spacecraft Thursday morning, the first commercial spacewalk. The four-person crew is in the midst of a five-day orbit after launching Tuesday morning, and the company has said the group is orbiting higher above the Earth than any space exploration missions since the Apollo missions decades ago.

Norfolk Southern (NSC) fired CEO Alan Shaw over a relationship with the railroad freight firm's top legal officer. The company had been investigating allegations of misconduct against Shaw, and said Wednesday he had been fired because it found he broke company policies "by engaging in a consensual relationship" with Chief Legal Officer Nabanita Nag, who also has been let go. Shaw, who was terminated "for cause, effective immediately," will be succeeded by Chief Financial Officer (CFO) Mark George. 

Global oil demand in the first half of the year grew at the slowest level since 2020, when the COVID-19 pandemic struck, according to the latest monthly report from the International Energy Agency (IEA). The Paris-based organization attributed the slump to a "rapidly slowing China" and the country's transition to electric vehicles (EVs), adding that demand outside China remains "tepid at best." Crude oil futures have been hit recently as OPEC—a dominant coalition of oil-producing nations—cut back on its demand outlook and growth projections, and the IEA warned that OPEC and its allies "may be staring at a substantial surplus."

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First Solar (FSLR) led gains on the S&P 500 Wednesday as solar stocks got a boost on the heels of Tuesday's presidential debate between former President Donald Trump and Vice President Kamala Harris.

During the debate, Trump said Harris would “go back to solar,” if she wins the presidency, adding that he’s “a big fan of solar,” according to an ABC News transcript. 

First Solar shares popped more than 15% Wednesday, while SolarEdge Technologies (SEDG) gained over 8%, and Enphase Energy (ENPH) added nearly 6%.

Other green energy stocks also advanced as investors weighed the possibility of Harris continuing the Biden administration's climate policies, with Polymarket still predicting a Trump win and PredictIt increasing its likelihood of a Harris one.

While Harris didn’t address solar energy during the debate specifically, she has been a proponent of the Biden Administration’s Inflation Reduction Act, which includes tax credits for rooftop solar and other clean energy initiatives. 

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Dangote Refinery, one of Africa’s largest oil refineries, has expressed concern over the lack of patronage from petroleum marketers due to low pricing strategies on its product sales.

Devakumar V.G. Edwin, vice president of Dangote Industries Limited, disclosed this on a Twitter Spaces session organised by Nairametrics. He revealed that despite the refinery’s efforts to supply affordable petroleum products, many traders in Nigeria have refused to purchase from the refinery, preferring to continue importing refined products from abroad.

Speaking during the session, Edwin highlighted the initial vision behind the establishment of the Dangote Refinery, which was aimed at reducing Nigeria’s reliance on imported petroleum products.

“The whole purpose of doing this refinery in Nigeria was to utilize our local crude instead of exporting raw materials and importing finished products,” he explained. “We should be able to refine and use the finished products within Nigeria and produce more to export the surplus.” Despite the refinery’s large production capacity, local marketers are only purchasing about 3% of the output.

He noted that the remaining 97% of the refinery’s production, including diesel and jet fuel, is being exported due to a boycott by local traders who refuse to buy at the refinery’s lower prices. This has forced the refinery to explore international markets, exporting the majority of its refined products, even though it was originally intended to supply the Nigerian market.

Edwin said: “I’m selling 2 to 3% to small traders who are willing to buy, while the rest 95 to 97% I’m forced to export,” while speaking about the quantity of the refinery’s Products sold locally. He suggested that there is a deliberate attempt by some marketers to block the refinery’s operations, as they prefer to import products rather than support local refining.

He further revealed that local marketers wrote to President Bola Tinubu, complaining about the refinery’s pricing strategies. “They wrote to His Excellency, the president, claiming that we are disturbing the market by dropping our prices,” Edwin disclosed.

He explained that in response to market dynamics, the refinery reduced prices twice to encourage sales, but this only led to further resistance from the marketers, who accused the refinery of undercutting the market. Edwin further said since that local marketers have been blocking the distribution of their products within the country, the refinery has been exporting most of its petroleum products.

Edwin said that the refinery can produce up to 54 million liters of refined petroleum products per day, depending on crude oil supply. However, local crude supplies have been inconsistent, forcing the refinery to rely on imported crude from countries like the U.S. and Brazil. This situation has been exacerbated by international oil companies (IOCs) prioritizing foreign markets, often selling crude oil at prices significantly above the market rate for local buyers

He added that the refinery’s production capacity is more than sufficient to meet Nigeria’s petroleum needs. He stated that 44% of the refinery’s output is enough to cover 100% of the country’s demand for refined products.

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Major U.S. equities indexes recovered from early losses to close Wednesday's session higher.

The volatile trading day followed the morning's release of the latest Consumer Price Index (CPI) data, which showed price pressure abating in August and solidified expectations for a minimal interest-rate cut at the Federal Reserve's upcoming meeting. Market participants also digested the financial implications of Tuesday evening's presidential debate.

The S&P 500 gained 1.1% on the day, while the Dow added 0.3%. Outperformance in the tech sector, buoyed by a recovery in shares of Nvidia (NVDA) and other artificial intelligence (AI) players, helped the Nasdaq jump 2.2%.

Vice President Kamala Harris's debate performance helped boost shares of companies in the green energy industry. If Harris wins the election, she is likely to continue Biden administration policies aimed at promoting clean energy solutions. Shares of solar panel maker First Solar (FSLR) led the S&P 500 higher, skyrocketing 15.2%.

Shares of Albemarle (ALB), the world's largest lithium producer, soared 13.6% following reports that a major battery producer in China intends to scale back its lithium production. Slumping lithium prices have weighed heavily on Albemarle's share price performance this year, but UBS analysts believe the production cuts could help rebalance global supply-and-demand dynamics, representing a possible inflection point in the lithium market.

AES Corp. (AES), a Virginia-based power utility with a clean energy focus, may have also benefitted from the bright outlook for green energy following the debate, as its shares jumped 8.6%. In addition, the investment bank Jefferies initiated coverage of AES stock with a "buy" rating and a $20 price target. Analysts praised AES for its diverse portfolio of energy infrastructure assets around the world, highlighting the company's shift toward U.S. renewables and away from coal exposure.

Shares of health insurer Humana (HUM) tumbled 5.3%, posting the steepest loss in the S&P 500. Wednesday's drop extended declines suffered by the stock earlier this week after a report highlighted downside risks to the Star ratings of Humana-operated health plans. The results of the presidential debate added to downward pressure on healthcare stocks, with analysts suggesting that increased odds for a Democratic victory could hurt investor sentiment on Medicare-related businesses.

Conagra Brands (CAG) shares lost 4.0%, receding from a 52-week high posted in the previous session. The company recently added to its strong snack portfolio by acquiring Sweetwood Smoke & Co., the maker of Fatty Smoked Meat Sticks. However, the packaged food company issued lower-than-expected guidance when it reported results in July, citing a difficult consumer environment.

After 155 years in existence, Campbell Soup (CPB) announced a rebranding initiative that includes dropping "soup" from its corporate name. Newly minted as "The Campbell's Company," the firm also owns snack brands such as Pepperidge Farm and Snyder's of Hanover, and it recently added Rao's tomato sauce to its portfolio. Shares of the company fell 3.8% following the rebranding news.

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