Author: Tobi Oluwaseun Adesanya

President Joe Biden has proudly claimed a resurgence in US manufacturing, but despite billions of dollars in investments, the industry is far from thriving. After a brief recovery post-pandemic, the manufacturing sector is now stagnating, presenting challenges for whoever wins the 2024 presidential election—whether it’s Vice President Kamala Harris or former President Donald Trump. Under the Biden administration, programs like the $53 billion CHIPS and Science Act and the $1.2 trillion bipartisan infrastructure bill were designed to stimulate manufacturing, particularly in semiconductors and critical industries. Private sector investments also surged, fueling an uptick in construction spending by manufacturers. However, while…

During his address at the UN General Assembly, President Tinubu called for a shift in how African nations manage their mineral resources. He emphasized the importance of local processing and industrialization in reducing dependence on foreign markets. This new approach aims to drive sustainable economic growth and position Nigeria as a key player in the global market for high-tech products. Tinubu highlighted a troubling paradox: although Africa is rich in minerals—holding 92% of the world’s platinum, 56% of its cobalt, and 54% of its manganese—the continent remains underdeveloped. This underscores the urgent need for a change in how African countries…

In a significant leap forward for Nigeria’s commitment to transparency and reform in its extractive industries, the Nigeria Extractive Industries Transparency Initiative (NEITI) has completed its 2022/2023 Oil, Gas, and Solid Minerals Industry Reports ahead of schedule. This achievement reaffirms the country’s leading role in adhering to the Extractive Industries Transparency Initiative (EITI) standards, a global benchmark for accountability in the management of natural resources. Why This Matters: A Milestone for Accountability The early release of these comprehensive reports has broader implications beyond Nigeria’s borders. It strengthens the country’s stance on transparency, improving its credibility and attractiveness to international investors.…

China’s economic challenges are hitting home for young professionals like Zheng Jiewen, 23, who has seen her salary slashed by half as business declines. Once a devoted shopper of luxury brands like Louis Vuitton and Chanel, Zheng is now part of a rising trend—China’s “dupe economy.” With the country’s economic growth stalling, Gen Z is shifting from high-end goods to high-quality imitations, known locally as “pingti” products. These dupes, often indistinguishable from their luxury counterparts, offer more affordability while maintaining style. For instance, instead of shelling out over $100 for Lululemon yoga pants, consumers are opting for similar alternatives priced…

President Bola Tinubu has increased the monthly allowance for National Youth Service Corps (NYSC) members by an impressive 133.33%, bringing it to ₦77,000. This bold move reflects Tinubu’s commitment to supporting and empowering the youth as they serve our nation. President Tinubu’s proactive approach to implementing impactful policies and initiatives is positively impacting Nigeria’s economy and the well-being of our citizens, with a focus on the nation’s youth. Announced by the NYSC Director General, Brigadier-General Yusha’u Ahmed, the increase follows the recent adjustments made to the national minimum wage as part of the National Minimum Wage (Amendment) Act 2024. With…

Mexican President Andrés Manuel López Obrador has pointed fingers at the United States for contributing to a recent surge of violence in Sinaloa, a state known for its deep ties to the drug trade. In the past two weeks, clashes between factions of the Sinaloa Cartel have left at least 49 people dead, with bodies being found across public streets and highways. During a press conference, López Obrador suggested that U.S. authorities stirred tensions between rival cartel groups following the arrest of two major figures: Ismael “El Mayo” Zambada, co-founder of the Sinaloa Cartel, and Joaquín Guzmán López, son of…

Governor Peter Mbah of Enugu State has commended the UK Visa Application Centre in Enugu for its efficient services, encouraging residents from the South East and South-South regions to take advantage of this accessible facility. During his visit, the governor highlighted the significance of this centre, which eliminates the need for travelers to go to Lagos or Abuja for UK visa applications. Governor Mbah also used the occasion to call on other foreign missions, including the United States and China, to establish similar consular services in Enugu. He emphasized the region’s large, entrepreneurial population, noting that the South East is…

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has officially revealed that Professor Hakeem Belo-Osagie will be one of the keynote speakers at the highly anticipated National MSME Conference 2024. The announcement, which was made via SMEDAN’s official Instagram page, is seen as a significant move in the agency’s ongoing efforts to drive the growth of small and medium enterprises (SMEs) in Nigeria. Professor Belo-Osagie, a renowned Harvard University professor and accomplished entrepreneur, is well-respected for his expertise in business strategy and leadership. As the Chairman of Metis Capital and FSDH Holding Company, he has garnered widespread recognition…

Borno State Governor, Babagana Zulum, has praised Seyi Tinubu, son of President Bola Tinubu, for his generous donation of N500 million to aid the victims of the Maiduguri flood, which recently displaced millions of residents and affected 70 percent of the city. During a special reception at the Borno State Government House, Governor Zulum expressed his deep appreciation for Seyi’s swift and impactful intervention. He highlighted that the donation came at a critical time when many flood victims were in desperate need of relief. Zulum emphasized that the funds, alongside the relief materials provided, will make a significant difference in…

The National Agricultural Land Development Authority (NALDA) and the Ekiti State government are working together to improve food security in Nigeria by empowering local farmers and promoting sustainable agricultural practices. NALDA aims to be the leading organization in agriculture with a specific focus on enhancing food security in Nigeria. This meeting with His Excellency Governor Biodun Oyebanji at the Ekiti House in Abuja highlighted the organization’s commitment to fostering agricultural development and rural empowerment, which are key components in addressing the pressing issue of food security in the country. During their discussions, the DG of NALDA and Governor Oyebanji explored…