News
European stocks extend losses on fear of virus pandemic
European stock markets fell further on Tuesday but declines in midday trading were far less than during a major sell-off a day earlier.
Fashola urges top ministry officials to work as team
World equities suffered dizzying declines Monday, sparked by fears that the COVID-19 outbreak could derail the global economy.
More deaths and a surge in new coronavirus cases in Iran, Italy, Japan and South Korea has fanned fears of a pandemic.
Tokyo’s main stocks index closed Tuesday with a hefty 3.3-percent loss as traders caught up with global markets after a Japanese public holiday Monday.
Other Asian equity markets recovered a bit meanwhile, with increases in Hong Kong and Seoul.
After rebounding early on Tuesday, major European markets then headed lower once again, although with much less momentum compared with their losses of between 3.0 and 4.0 percent the day before.
– ‘Positive mood not short-lived’ –
“Equity markets in Europe enjoyed a rebound in early trading in the wake of yesterday’s bloodbath of a session, but the positive move was short-lived,” said CMC Markets UK analyst David Madden.
“The brutal losses endured yesterday coaxed a few buyers out of the woodwork, but given that equity benchmarks are back in the red suggests that sentiment is still sour.
“The coronavirus crisis in Italy remains at the forefront of traders’ minds,” Madden added.
Italy has seen a serious jump in cases — from six to 229 since Friday — and now has the biggest number of confirmed infections in Europe.
News at the weekend that COVID-19 was now spreading and claiming lives far beyond China sparked Monday’s market rout, with Wall Street’s Dow index suffering its worst day in two years.
The rapid spread abroad came as the World Health Organization said the epidemic had peaked at its epicentre in China, where it has killed more than 2,600 people and infected more than 77,000 others.
But the situation has worsened elsewhere with nearly 2,700 other cases and more than 40 deaths globally, prompting restrictions on travellers from infected nations, the cancellation of football matches and national efforts to isolate suspected carriers.
“What was largely a Chinese issue to resolve has soon become an international problem, with European eyes transfixed on Italian efforts to curb the spread of the virus,” IG analyst Joshua Mahony said.
“Fears over a potential coronavirus contagion throughout Europe is likely to provide substantial risk-off sentiment for days and weeks to come, with significant pressure on the Italians to stop this outbreak from spreading throughout the continent.”
Italian Prime Minister Giuseppe Conte blamed the management of a hospital in northern Italy for an outbreak there.
Elsewhere Tuesday, haven investment gold slid after hitting a seven-year high on Monday.
Oil prices, which tanked by around 3.8 percent on Monday, remained in negative territory owing to concerns that the global economy would require less crude in the days and weeks to come.
– Key figures around 1215 GMT –
London – FTSE 100: DOWN 0.7 percent at 7,103.80 points
Frankfurt – DAX 30: DOWN 0.5 percent at 12,974.07
Paris – CAC 40: DOWN 0.6 percent at 5,756.01
Milan – FTSE Mib: DOWN 0.6 percent at 23,293.34
Madrid – IBEX 35: DOWN 1.1 percent at 9,379.00
EURO STOXX 50: DOWN 0.7 percent at 3,621.61
Tokyo – Nikkei 225: DOWN 3.3 percent at 22,605.41 (close)
Hong Kong – Hang Seng: UP 0.3 percent at 26,893.23 (close)
Shanghai – Composite: DOWN 0.6 percent at 3013.05 (close)
New York – Dow: DOWN 3.6 percent at 27,960.80 (close)
Euro/dollar: DOWN at $1.0834 from $1.0854
Pound/dollar: UP at $1.2965 from $1.2924
Euro/pound: DOWN at 83.54 pence from 83.98 pence
Dollar/yen: DOWN at 110.53 from 110.72
Gold: DOWN at $1,655.59 per ounce from $1,659.38 late on Monday
Brent Crude: DOWN 0.3 percent at $55.60 per barrel
West Texas Intermediate: DOWN 0.1 percent at $51.33
News
NACCIMA Champions Direct Nigeria–China Flights to Unlock Billions in Trade and Investment
The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has intensified efforts to strengthen Nigeria–China economic relations, with its National President, Engr. Jani Ibrahim, making a powerful case for direct flight operations between both countries. Speaking at the NACCIMA Business and Investment Forum on April 29, 2026, in Guangzhou during the 139th Canton Fair, Ibrahim declared that direct flights would be a game-changer for trade, investment, and industrial collaboration.
He stressed that seamless air connectivity would not only ease travel for business leaders and investors but also accelerate industrial partnerships, technology transfer, and investment flows. With China’s zero-tariff policy on imports from African countries, Ibrahim noted that Nigeria has a golden opportunity to expand its non-oil exports, diversify its economy, and strengthen its role in global trade.
The forum itself was historic. Organized in collaboration with the China Chamber of International Commerce, it brought together leading Chinese investors, Nigerian business executives, and policymakers for strategic discussions. A successful B2B matchmaking session culminated in the signing of a Memorandum of Understanding (MoU), institutionalizing the forum as an annual platform for advancing Nigeria–China economic relations.
Beyond the forum, the NACCIMA delegation actively participated in the Canton Fair and embarked on industrial tours to major Chinese companies, including Wanli Tire Corporation Limited, Guangda Shoes Factory, and Guangzhou Autoworld Export Base. These visits reinforced NACCIMA’s commitment to fostering industrial cooperation, promoting technology transfer, and building long-term investment partnerships.
The push for direct flights is more than a logistical appeal—it is a strategic move to redefine Nigeria–China relations. By bridging geographical barriers, both nations stand to unlock unprecedented opportunities in trade, investment, and industrial growth. For Nigeria, this initiative represents a chance to expand its export base, attract foreign investment, and position itself as a key player in Africa–Asia economic integration.
This bold advocacy by NACCIMA marks a turning point, positioning Nigeria not just as a participant but as a proactive architect of stronger global trade relations.
News
Senator Bwacha Submits PDP Gubernatorial Nomination Form, Declares Intent to Lead Taraba
SENATOR Emmanuel Bwacha, representing Taraba South Senatorial District, has formally submitted his nomination and expression of interest forms to the Peoples Democratic Party (PDP), officially declaring his intention to contest the governorship of Taraba State. The submission marks a landmark moment in the state’s political calendar, greeted with enthusiasm by supporters who thronged the PDP secretariat to witness the historic occasion.
In what many have described as an unprecedented show of grassroots energy, the Bwacha Youth Movement had earlier stormed the PDP secretariat to purchase the gubernatorial forms on the Senator’s behalf — setting the tone for what is shaping up to be one of the most energised political campaigns in Taraba’s recent history. Rather than leaving the purchase to a formal campaign structure or political benefactors, it was the youth who stepped forward, sending an unambiguous message that this candidacy belongs to the people. Their bold gesture has since ignited excitement across the state, drawing attention to a movement powered not from the top down, but from the ground up.
A seasoned lawmaker whose political journey spans the Taraba State House of Assembly, one term in the Federal House of Representatives, and an impressive three terms in the Nigerian Senate — where he also served as Deputy Minority Leader — Senator Bwacha stands today as one of the most experienced and battle-tested legislators ever produced by Taraba State. His formal entry into the governorship race is seen by many analysts as the natural progression of a career built entirely on service, sacrifice, and a deep commitment to his people.
“We are not here for politics of sentiment. We are here because we have seen what Senator Bwacha has done for our communities, our families, and our future. Today, we are investing in that future,” declared a spokesperson for the Bwacha Youth Movement, to thunderous applause from supporters gathered at the secretariat.
Senator Bwacha’s emergence as a gubernatorial aspirant comes at a time when Taraba State is at a crossroads, grappling with development deficits, security challenges, and a deep yearning among citizens for purposeful, accountable leadership. His backers argue that his extensive legislative record provides precisely the blueprint the state needs at the executive level.
Among his most celebrated interventions is the rehabilitation of the Donga–Mararraba road — a critical artery that had long been a source of daily misery for farmers, traders, and commuters across the senatorial district. The completion of that road is credited with reviving commercial activity along the corridor and significantly reducing post-harvest losses for rural farming communities.
Rural electrification stands as another enduring pillar of his senatorial legacy. Communities including Nyivo, Kumbu, Nyitan, and Mararraba — long neglected in the state’s power distribution grid — received electricity through the installation of over 20 transformers. Alongside this, Senator Bwacha oversaw the construction of 53 solar-powered boreholes, bringing clean, reliable water to communities that had for decades depended on unsafe sources.
In education, he equipped science laboratories at the Federal University Wukari, donated a utility bus to the institution, and established ICT centres to bridge the digital divide. His scholarship scheme has supported over 260 indigent students, ensuring that financial hardship does not become a barrier to academic excellence.
Youth empowerment has been equally central to his tenure. Through the National Directorate of Employment (NDE), he secured over 500 federal job placements and trained more than 750 young people through vocational programmes — directly addressing unemployment among a demographic that now champions his gubernatorial bid.
On healthcare, Senator Bwacha established a well-equipped primary healthcare centre in Mararraba, with dedicated maternal and child health services. Security interventions include the creation of new police divisions in Donga and Mararraba, the donation of operational patrol vehicles to law enforcement, and the installation of solar streetlights in Takum and Wukari — measures residents credit with improving safety and reducing nighttime criminality.
Political observers in Jalingo note that the combination of a robust legislative record spanning multiple chambers and an organic, youth-powered movement is a formidable political equation. The Bwacha Youth Movement’s decision to purchase the nomination forms represents a rare dynamic in Nigerian politics — a candidate propelled not by godfathers, but by the very people he has served.
As the PDP advances its internal processes ahead of the governorship election, Senator Emmanuel Bwacha now stands formally in the race — not merely as a candidate, but in the eyes of his supporters, as a covenant with the people of Taraba State.
For the youth who purchased his forms and the thousands who gathered to witness his submission, Wednesday’s events were more than a political formality. They were, in the words of one young supporter, “a down payment on the future we deserve.”
News
Hon. Hamma Adama Ali Kumo Applauds APC Consensus, Declares Full Support for Dr. Jamilu Gwamna and Governor Yahaya’s Senatorial Bid
Hon. Hamma Adama Ali Kumo, National Deputy Financial Secretary of the All Progressives Congress (APC), has congratulated Dr. Jamilu-Isiyaku Gwamna on his emergence as the party’s consensus governorship candidate for Gombe State ahead of the 2027 general elections.
In a statement issued in Abuja, Hon. Kumo described Dr. Gwamna as “a visionary leader, accomplished technocrat, and grassroots mobilizer whose credibility and capacity will strengthen the APC’s position in Gombe.” He noted that the consensus arrangement reflects the party’s commitment to unity and inclusiveness, adding that it is a step toward consolidating APC’s achievements in the state.
Hon. Kumo called on all aspirants who contested for the governorship ticket to rally behind Dr. Gwamna, stressing that collective effort is essential for the APC to secure victory. “Every aspirant remains a vital pillar of our party. By joining hands with Dr. Gwamna, we can ensure APC’s continued dominance and deliver progress for the people of Gombe,” he said.
He further commended Governor Muhammadu Inuwa Yahaya for his exemplary leadership, which has brought peace, infrastructural development, and political stability to Gombe State. Hon. Kumo emphasized that the governor’s guidance was instrumental in the smooth adoption of consensus candidates, describing him as “a leader whose vision has transformed Gombe and whose legacy will endure.”
Hon. Kumo also reaffirmed his support for Governor Yahaya’s senatorial aspiration, expressing confidence that his wealth of experience will bring quality representation to the National Assembly. He noted that Yahaya’s senatorial bid complements Dr. Gwamna’s governorship candidacy, creating a formidable team to advance APC’s mission in Gombe.
Concluding his remarks, Hon. Kumo urged party members, stakeholders, and the electorate to remain steadfast in their support for APC candidates, assuring that with unity and determination, the party will deliver victory and sustain progress in Gombe State.
-
Uncategorized5 years agoFG, states urged to harness flooding for ranching, others with technology – Agbaje
-
Headlines10 years agoBreaking: EFCC seals Borno House of Assembly, as Hon members take to their heels
-
News12 years agoNigeria Security Operatives Stage Manhunt For Homosexual Perpetrator
-
News9 years agoHow 21-year-old Girl fled community over accusation of lesbianism
-
News10 years agoYobe Gov Moves Against Deputy
-
Opinion7 years ago7 signs she has friend zoned you
-
Technology5 years ago
Online job placement company headhunts women
-
Headlines10 years agoBorno Dep Gov Abducts Another Church Leader
