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Nigeria's dollar woes leave record N452 billion forex loss across big consumer goods companies

View this email in your browser Headlines Nigeria's dollar woes leave record N452 billion forex loss across big consumer goods companies The highest exchange loss, N123.8 billion, was posted by consumer goods powerhouse Nestle Nigeria, which also saw the sharpest deterioration year on year. Read More I was occult member – Catholic priest The cleric had alleged, among others, that some Catholic priests, believed to be acting on the instruction of the bishop, had stormed his adoration ground on 7 October and broke his gate, with the intention to dispossess him of the property. Professor caught cheating in examination fails to make SAN final list The Legal Practitioners and Privileges Committee (LPPC), last month, shortlisted Ms Daudu's name alongside 68 other lawyers for the prestigious SAN rank. Rowdiness, stampede as 17,000 Nigerian workers struggle to enrol in IPPIS When PREMIUM TIMES visited the Public Service Institute where the exercise took place on Thursday, many of them were seen struggling to complete the verification about a week before the end of the exercise. Most Recent Stories Tinubu sacks DGs of NTA FRCN, VON, others, names replacements The president tasked the newly leadership agencies to innovate and create new opportunities for Nigerians to leverage upon through the effective reforms. Read More NB: The total time allotted to attempt answering all questions correctly is 2 minutes. I don't want to be remembered for easing int'l passport issuance processes — Nigerian Minister The minister said this at the weekend in Lagos when he was hosted by his friends and old schoolmates during his stint at Obafemi Awolowo University. How I manage Obasanjo Farms, my relationship with my dad – Olu Obasanjo "When dealing with a first-generation company owner who is also a four-star-general who has ruled a country like Nigeria twice, you don't always win that battle most of the time; you lose 110% of the time...'' 'Give us back our money,' angry passengers tell Air Peace Some of the passengers were informed quietly by Air Peace officials that the flight had been further shifted to 11 a.m., PREMIUM TIMES learnt. One killed, two wounded as gunmen attack correctional facility According to spokesperson of the state Command of the Correctional Service, Affanga Etim, "When they came, they opened fire on the security team who also responded in like manner and in the process, an Assistant Superintendent of Correction was killed. Annual Banking Report - Measuring Banks' Resilience Videos No crisis at Senate -Akpabio Business Tinubu appoints new MD/CEO for Bank of Industry The president's approval of Mr Olusi's appointment follows the voluntary resignation of former BOI Managing Director and Chief Executive Officer, Olukayode Pitan. Otedola's Geregu Power reports 13% jump in nine-month profit amid soaring impairment loss Mr Otedola, previously Nigeria's third-richest person and a multisector investor with interests in maritime, banking and oil & gas, holds the company's controlling stake. Editorial cartoon of the day Arts and Entertainment Mr Ibu: Kanayo O Kanayo tackles Reno Omokri, Uche Maduagwu over 'insensitive' remarks PREMIUM TIMES, on Wednesday, reported how the 62-year-old "Police Recruit" star opened up about his battle with "a strange and dangerous illness", explaining that his doctors have recommended the amputation of his legs. New Yam Festival: Anambra to showcase best of masquerade, local delicacies The commissioner said Anambra had a rich cultural heritage, including intangible ones like ceremonies such as the new yam festival, which is the most popular, generally held between August and November every year. Opinion Do we still need EFCC and ICPC for anti-graft war?, by Zainab Suleiman Okino The pioneer EFCC chairman, Mallam Nuhu Ribadu, now National Security Adviser and appointed by President Olusegun Obasanjo was removed unceremoniously by President Umaru Yar'adua over his witch-hunting (read investigation) of friends of that government at that time. While in office, Ribadu was reporting to only the president as he "bypassed bureaucratic burdens within the security hierarchy and civil service". Expectedly such a powerful man could not have remained in office after jailing or caused to be jailed and putting corruption dent on many a politician including governors, con-artists, internet fraudsters, ministers and people with ill-gotten money generally. 'Two Global Wars and our Economic Plight', By Dakuku Peterside The economic interlinkages of the global community are manifesting clearly as the Russia- Ukraine war ravages the economies of nations and is now further complicated by the hostilities between Hamas and Israel. The global economy would sink deeper in three significant ways. Israel- Hamas conflict will most likely engender a spike in energy costs. It would add to inflationary pressure already escalated by COVID-19 and the Russia- Ukraine war. And it may lead to a global recession. Bloomberg economists predict global growth may drop to 1.7% and, in the worst-case scenario, may lead to another recession. Promoted New NCC boss, Maida commits to Tinubu's vision on digital economy The new telecom regulator paid tributes to former chief executives of the Commission for their laudable role in building a resilient telecoms industry Lagos Free Zone wins Industrial Champion Category at the Global Free Zones of the Year 2023 Awards The award is in recognition of the leading industrial ecosystem provided by LFZ as a Special Economic Zone for manufacturing in Africa Craneburg restates commitment to timely completion of Eti-Osa-Epe expressway, seeks cooperation The company, in a statement on Wednesday further stated that it shall continue to work with relevant government agencies to ensure minimal impact of the construction works on commuters. Sports Nigeria's Nnadozie celebrates historic Champions League feat with Paris FC On her social media page, Nnadozie, in her characteristic manner, attributed the fantastic result to divine intervention, expressing gratitude for the clean sheet and their historic achievement. Nasarawa United FC unveil new technical adviser The new technical adviser promised to work with the club management, staff and players to enhance the development of the club and return it to the NPFL. Fact Checker False! No evidence supporting claim Weah was rushed to hospital over election shock Claim: A Social Media show host named Prophet Key posted on Facebook that President Weah fell due to election pressure and was rushed to 14th Military Hospital a day after the Oct.10 elections. Two dead in post-election violence in Konia, Lofa County Verdict: True! The General Police Commander of Lofa County, Clement Barlatt, has confirmed to DUBAWA the deaths of two Konia, Zorzor District, Lofa County residents due to disagreement over election results. Health Nigeria records over 9,000 diphtheria infections Out of the suspected cases, 9,478 were confirmed from 137 local government areas (LGAs) across 20 states including the Federal Capital Territory. Cholera outbreak kills 12 in Ogun as govt threatens to seal houses without toilets Cholera spreads through contaminated food and water, reappearing periodically in countries like Nigeria where people are unable to secure access to clean drinking water and ensure adequate sanitation. Copyright © 2023 PremiumTimes, All rights reserved. Our mailing address is: newsletter@premiumtimesng.com Want to change how you receive these emails? You can update your preferences or unsubscribe from this list.

First Mining Drc-Zambia's biggest news from the week

First Mining Drc-Zambia's biggest news from the week

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FQM'S S3 expansion plans take shape   After a decade-long delay, work on First Quantum Minerals' Sulphide No. 3 (S3) expansion project at Kansanshi Mine is now back on track. The project is expected to create almost 2,000 jobs at its peak, and FQM is taking steps to make the project more productive, efficient and environmentally friendly by using diesel-electric mining equipment and embedding design and engineering improvements into the S3 Process Plant, based on learnings from Sentinel and Cobre Panama.After a decade-long delay, work on First Quantum Minerals' Sulphide No. 3 (S3) expansion project at Kansanshi Mine is now back on track. Read more

Mining Indaba 2024 hosts the return of the Mining Innovation & Research Battlefield Investing in African Mining Indaba and the Development Partner Institute launched the 2024 Mining Innovation & Research Battlefield to entrants today... Read more

Unlocking West Africa's mining potentialUnlocking West Africa's mining potential The continued growth and complexity of mining in West Africa is demanding more expertise, across a range of skill sets, to be available locally – as a more mature industry in Ghana is presenting exciting and challenging prospects to emerging players, while tightening regulations, new sources of investment and novel technologies also contribute to the demanding environment. Read more

Gone are the days of grocery vouchers as an incentive for mineworkers The mining industry in South Africa has played a pivotal role in the nation's economy for decades. Export data from the South African Revenue Service indicates that, for the first half of 2023, the value of mined material exports was R575 billion. According to Statista, the industry is home to a substantial workforce, with 475 561 mineworkers employed in 2022. The implication, however, is that many suppliers to the mining industry, whose fortunes are intrinsically linked to the performance of the mining sector, only do as well as mining itself. In our case, we have maintained a degree of resilience due to our unique solution offering. Read more

Almina to use Metso technology for their new copper and zinc concentrator in Portugal Almina Minas do Alentejo S.A. is proceeding with the preparations to upgrade the copper and zinc concentrator at their Almina mine in Aljustrel, in the Iberian pyrite belt in Portugal. The company placed an order with Metso as the key equipment supplier for this project in the first quarter of 2023. Read more

Five-point action plan to decarbonise South African mining Decarbonising the mining industry requires a purposeful methodology combined with a suite of solutions, says Erik Pretorius, Global Lead, Large and Strategic Projects, Mining and Minerals Processing, ABB. "Our automation and digital portfolio empowers miners to not only consider, but to succeed, in their 'all-electric' ambitions despite the shortage of electricity in the region." Read more

CURRENT MAGAZINE ISSUE: First Mining DRC-Zambia is a journal that focuses on creating a networking forum for the decision makers in businesses and Governments across Africa's Copper belt region, who are either directly or indirectly involved in mining Developments. We inform ,educate and create business and networking opportunities for all Companies that are interested in expanding their business across DRC, Zambia and beyond. FMDZ is a bi-monthly magazine for the mining industry. Read Digital Magazine

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