When in 1992, James Carville, Bill Clinton’s campaign strategist uttered the quip on television: “It’s the economy, stupid”, little could he have realized that he had pronounced a phrase that would reverberate beyond the United States and become a benchmark in other presidential campaign processes. Carville spoke in the context of the 1992 US Presidential campaign by the Democrats against incumbent President George H. W. Bush, that is Bush, the father. As a strategist for Bill Clinton, he merely played up the recession in the United States. He talked about change vs more of the same, the economy and healthcare.

The phrase has caught on since then, not just in the United States but across the world and applied instructively to anything that is considered of high priority. Carville, now 78, in at least one interview is now wondering why President Biden’s approval ratings remain so low despite the fact that unemployment in the United States is at an historic low and inflation is on a downward trend. The economy seems to be doing well under Biden, but it has not increased ratings. The paradox speaks to a certain disconnect, reasons for which may have to be sought elsewhere. What cannot be controverted however is that economic performance is directly linked to the people’s well-being, and the spread of prosperity. In the United States, many Presidents were punished for failing to get the economic framework right: Jimmy Carter, George W. H. Bush. The role of the economy in elections, and government’s performance would always be a major issue, and in that regard, James Carville may be rest assured that he has added a phrase into leadership and governance that may well ring true for all times. The state of the economy determines the people’s level of happiness, the opportunities that are available to them and their capacity for self-belief and actualization. Even in the United States, there is currently a raging debate about Bidenomics between the Republicans and the Democrats, coloured as expected, by partisan interests. The times keep changing but concerns about the economy remain crucial.

And that leads us to the relevant question here: how is the Nigerian economy faring under Tinubu, five months after the assumption of office? Are we better today than we were under President Muhammadu Buhari, the man who has been described as the perfect exemplification of the words “slow” and “clueless”. Nigerians oftentimes do not know what is good for them. They voted for the same man twice and kept him in office for eight years and there are millions out there who believed and may still believe that he was the best choice for Nigeria. I am worried, and for this reason, by the year 2035, Nigeria’s population would have increased to about 400 million. This may translate into an exponential increase in the population of stupid people who can be led by the nose by deceit and propaganda. It is the country that will suffer. In the 2023 general elections, then came along a certain Bola Ahmed Tinubu on the platform of the ruling party, the All Progressives Congress (APC), who fought a valiant battle to win his party’s ticket, backed by the slogan that having made other persons king of Nigeria (notably Buhari), it was his turn to sit on the throne. He did not quite have the express support of the incumbent President, but in the end, he not only got the ticket, he won the election, with more than 8 million votes - one of the lowest margins since Nigeria’s return to civilian rule in 1999. The President’s campaigners sold the narrative that he turned Lagos around, increased Internally Generated Revenue (IGR), built infrastructure, and mastered political engineering. Reminded again and again, that Lagos is not Nigeria, Tinubu’s strategists told us not to worry. They talked about the possibility of hope being restored. So, today, we ask: how market? How is it going? Five months down the line. Our primary focus is the economy.

Not enough attention is being paid to this very important subject, at the moment, by the way, in part because there has been so much engrossment with politics and other matters. The pursuit of the controversy about President Tinubu’s credentials by the People’s Democratic Party (PDP) and its candidate Atiku Abubakar in a foreign jurisdiction, has been the subject of attention in addition to concerns in the Southern part of the country about the controversial death of Ilerioluwa Aloba, popularly known as Mohbad, in itself a very bad and needless distraction that should never have occurred. While distractions in politics and society may serve the sitting government well, nothing is taken away from the fact that the economy is tanking and the people are suffering. On top of it all, I have raised the alarm elsewhere that the President appears to be absent. The Presidency is not a job where the holder of the office can appear and disappear at will. He must be present, always. I have not seen Mr. President in any public capacity in one week, and I think Nigerians have a duty to ask after his whereabouts. If the American President disappears for three days from the news in America, even the stock exchange will be affected. I once wrote a piece referring to a book by Matthew Algeo titled “The President is a Sick Man”. The subject of the book was Grover Cleveland, the 22nd and 24th American President who disappeared briefly to have a secret surgery at sea in July 1893 on a friend’s yacht. A journalist, E. J. Edwards exposed the President. Cleveland’s political career was built on the mantra: “Tell the truth”, but he failed at that moment to tell the truth, act honestly, about his own circumstances thus creating a conflict between politics, medicine and journalism. E.J. Edwards, the journalist was disgraced and dismissed as a liar but he was vindicated more than 20 years later when the truth came out. Cleveland disappeared for only five days to treat a cancerous tumour.

Matthew Algeo’s book tells the full story. In contemporary times, if the American President were to disappear from public view for just two days, the American stock market would have issues. It is a measure of the kind of system that we run around here that Nigerians would not see their President for days and they would be comfortably obsessed with tittle-tattle. I have not seen my President since he returned from Paris and he made an appearance on October 1. No Federal Executive Council Meeting. Why? Three additional Ministers have been cleared by the Senate. They are yet to be sworn in. Why? The Niger Delta Development Commission (NNDC) Board has been cleared by the Senate. Yet to be sworn in. Why? So, what’s next? Where is the President? This columnist hopes fervently that he will show up tomorrow at the Federal Executive Council Meeting, and not be represented again by his Deputy who has been more visible in action in recent times than his principal. This was how President Buhari once disappeared for more than seven months and we all accepted that anomaly, and simply moved on. It must not become a tradition in this country that a President can just disappear and show up at will. The Presidency of Nigeria is a full-time job, not a part-time assignment.

What suffers with a President playing possum is the economy and the people’s welfare. It will be recalled that on May 29, 2023, the day the President assumed office, one of the major highlights of his speech was that fuel subsidy was gone. He promised to reform the economy and make Nigeria a major investment destination. He also promised to fix Nigeria’s foreign exchange crisis, and in that wise, the country’s dual exchange rate was abolished, the Naira was devalued, the then Central Bank Governor, Godwin Emefiele was arrested and detained. All of those initial steps taken by the President have failed more or less, leaving Nigerians in greater difficulty. Five months later, Nigerians are still searching for the hope that they were promised. They are forlorn. The removal of fuel subsidy has moved the pump price of petrol (PMS) from N186 in May to over N500 and as high as N617 in July. What is quoted is the fact that there is no provision in the 2023 Appropriation Act for subsidy beyond June 1, 2023, and the fact that the Petroleum Industry Act (PIA) states that petroleum prices must be determined by market forces. Our neo-liberal economists praised these forces to high heavens. By August 2023, the landing cost of PMS had risen to about N720 per litre. The same government saying that fuel subsidy had gone has since been forced to provide subsidy. Please what happened to the market forces? The situation is likely to get worse with the on-going Israel-Hamas war, which has resulted in about a 4% jump in the spot price of Brent Crude and WTI. Nigeria imports finished products because all of its refineries are not working. Marketers have had to halt imports, resulting in queues at fuel stations in many parts of the country, and complaints by oil marketers about NNPCL monopoly. Could it be that the President did not understand the situation before he said subsidy was gone? Shouldn’t the President come clean and announce subsidy is back and his administration has had to reverse itself?

We also need to know what is going on with the harmonization of the foreign exchange regime. Since the introduction of that policy, the Naira has been devalued by more than 40%, such that the biggest challenge that Nigeria faces today is how to save the Naira. If the Tinubu administration hoped to close the gap between the official and parallel windows, it has achieved the exact opposite and created more opportunities for arbitrage. The Naira today is almost N1, 000 to the dollar, and over N1, 250 to the pound sterling. It is rated among the lowest currencies in Africa. Everyone is groaning, including manufacturers and employers of Labour. Godwin Emefiele, former CBN Governor, was suspended and detained, an acting Governor, Folashodun Shonubi was appointed, later replaced by Yemi Cardoso as substantive Governor, yet Nigeria’s monetary policy remains chaotic. Virtually every post-Emefiele policy move under Shonubi’s interregnum failed. The standard excuse was that Nigeria was facing a supply of forex problem until we all found ourselves in a situation where nobody could function again and the entire economy was thrown into a dysfunctional mode. The CBN even said it was entering into an alliance with oil majors and Fintechs to assist with forex supply. It didn’t work. NNPCL, Nigeria’s oil and gas behemoth also waded in, with a crude oil for cash swap with AFREXIM Bank. No result! Why should anyone expect any result in an unproductive economy? Countries earn forex by being productive. Nigeria is one vast consumption destination, a dumping ground.

It is therefore the reason no one should be surprised that in the recent Capital Importation Report, by the National Bureau of Statistics (NBS), it was disclosed that the country’s total capital importation dropped by 9.04% in the second quarter (Q2) of 2023, that is within six months, amounting to a drop of 32.90% year on year. In the report, 28 states of the Federation did not attract any foreign investment in six months, an alarming indication of the economic crisis at Nigeria’s sub-national levels. These states exist just to collect their shares from the monthly Federation Allocation Account. They lack the capacity to produce despite all that talk about how Nigeria is richly endowed and every state is flowing with resources. Petrol dollar which accounts for 40% of GDP, 98% of foreign exchange earnings, and 76% of country revenue has made everyone lazy and has turned crude oil into Nigeria’s biggest curse. The eight states that have received foreign investments according to the report are of varying value: Lagos – 69%, Federal Capital Territory – 28%, but a state like Ondo got just a meagre $200, 000. What is the matter with Ondo State, for example? Why would any foreigner invest there? This is a state that is bogged down by sheer irresponsibility, mindless politicking, absenteeism, physical and psychological, and a governance mind-set that belongs more to the paleolithic age. Those who claim to speak for the confusion in that state are so dumb and so poorly educated they merely misrepresent their own unimaginative narrative. Dr Abdullahi Ganduje, Chairman of the APC and former Governor of Kano State, whose own state is as much a victim of bad politics, now says he wants to help resolve the infantile Governor vs Deputy Governor politics in Ondo State. How? We may again and again focus on the Federal Government, but what goes on at the sub-national level is enough to generate outrage, given the fact that it is the people who suffer from the reduction of governance to a circus.

Senator (Mrs) Remi Tinubu the First Lady of Nigeria has been quoted as saying that nobody should hold her husband responsible for Nigeria’s problems because he is not a magician, he is just a man who inherited the failures of past administrations. I have had cause to praise Mrs. Tinubu for her grace and elegance and the dignified manner in which she has supported her husband. But she must restrain herself from getting directly involved in core governance and policy issues. Otherwise, each time she jumps into the arena, she would have the likes of Garba Shehu giving her a back-hand slap to tell her to get back quickly to the famous other room as Shehu did rather impudently, recently. Nigerians voted for her husband, not her. She must learn to strike a balance. Besides, all the Tinubu sons and daughters trying to treat Nigeria and the Presidency like a family heirloom must back off, and stop pushing themselves in our faces. We have the Vice President, Kashim Shettima who is constitutionally empowered to act on the President’s behalf but even he must be sure of what he says. Going to Lokoja, Kogi state, the other day, to make empty promises with Ajaokuta Steel Company – to create 500, 000 jobs - is one of the most curious empty promises in recent times, based on complete lack of knowledge at the highest levels. VP, you can’t create 500, 000 jobs by merely talking about it at a political rally.

President Tinubu must show up and take charge, not episodically, or through hurriedly arranged photo-ops but every day of the week. He has been employed for the job. He must show up each time Nigerians check the attendance register, except otherwise determined by exceptional circumstances and even at that, we have the right to know.

The affection distorts the perception. The Master used to talk about it often. One day his students got an amazing example, proving those words.

They heard the Master talking to one mother.

 “How is your daughter living?”

“My dear daughter! She is so happy. She has a wonderful husband! He gave her a car, bought her jewelry that she dreamed about, and hired servants for her. They serve her breakfast in bed, and she stays in bed until noon. He’s not a husband, but a prize!”

 “And how’s your son?” 

“My poor boy! He married a real grouch! He gave her everything she wanted – a car, jewelry, an army of servants. And she is lying in bed until noon! And doesn’t even get up to make breakfast for her husband!

The recent killing of community leader Adamu Gabdo in Panyam, Mangu Local Government Area of Plateau State, once again, highlights the precarious nature of peace in the region. The incident, undoubtedly tragic, has reignited conversations about the efforts made by various stakeholders to secure the state’s peace. Let me quickly add that Adamu Gabdo’s story is following a known trajectory!

On a somber Saturday in Plateau State, Adamu Gabdo met an untimely end in Panyam. His killing is now under investigation by the Plateau State police, and the General Officer Commanding (GOC) Third Armoured Division, Rukuba Barracks, Major General Abubakar Abdulsam, has ordered a thorough inquiry. Their swift response to the incident demonstrates the commitment of our security operatives to upholding the rule of law and ensuring justice prevails. However, like I said it follows a trajectory.

Adamu Gabdo’s life story takes a tragic turn, as he had previously relocated to Toro Local Government in Bauchi due to the violent inter-ethnic clashes that engulfed the Mangu area. It was during a condolence visit to this troubled region that he met his untimely demise or better put, along official lines that he got missing.

In the wake of this horrifying incident, Markus Artu, the Chairman of Mangu Local Government, swiftly issued a statement condemning the killing. He rightly described it as barbaric and an act of criminality that threatens the peace that has been slowly returning to Plateau State.

His strong words sent a message that acts of violence will not be tolerated in Plateau State. It is a message that reinforces the commitment of local leaders to the restoration and maintenance of peace in their communities.

The efforts of the State Government, under the leadership of Governor Barr. Caleb Mutfwang, in restoring peace to Plateau State, cannot be overstated. The State Government’s dedication to reconciliation and peaceful coexistence among people of different tribes and religions is evident, more can be done, and indeed must be done!

Under Governor Mutfwang’s leadership, Plateau State has seen remarkable progress in its peace-building efforts. The relative peace that many residents now enjoy in the state is a testament to the tireless work of the state government and its commitment to the safety and well-being of its citizens.

As I examine the challenges Plateau State faces on its path to peace, it is crucial to appreciate the dedication of our security operatives. The Operation Safe Haven (OPSH) and the Plateau State police have worked tirelessly to ensure that peace prevails in the region.

The Operation Safe Haven’s General Officer Commanding, Major General Abdulsalami Abubakar, deserves commendation for his leadership and his commitment to resolving the current crisis. His recent engagement with Fulani and Mangu stakeholders is a step in the right direction, as it fosters dialogue and understanding.

While I applaud the efforts of our security forces, it is also important to condemn the highhandedness and arbitrary arrests. The recent reports of arbitrary arrests, particularly the detention of women in Mangu, are concerning. While the importance of thorough investigations cannot be overstated, it is equally crucial to ensure that the rights of individuals, especially innocent civilians, are respected throughout these processes.

Every person, regardless of their circumstances, deserves dignity and their basic rights, including access to legal representation and a fair trial. This principle of justice must be upheld at all times.

The reason for this, I state once more is that we have been on this route before, on 31 October 2018, Alkali’s lifeless body was recovered from an abandoned well in Guchwet, Shen, Jos South, after the water was drained with a water pump generator to allow access to his body parts. On 3 November 2018, the remains of the general were buried at Gudu Cemetery in Abuja in accordance with Islamic rites.

Then, credible intelligence revealed that his car was stopped and he introduced himself as a general to the hoodlums who had barricaded the road that he was just passing through to Bauchi. The senior officer was assaulted and killed.

I recall that Julius Chuwang, a 38-year-old farmer, told me he would not forget in a hurry the day his community was invaded by marauding soldiers. Chuwang was about to walk into a bar to have some beer with a friend when soldiers shot at him. He caught a bullet in his right arm and another in his left arm.

His offense was being a member of the Dura-Du District in Jos South Local Government Area, Plateau State, where Major General Idris Alkali (retd.) was killed on September 3, 2018.

Alkali’s killing brought trouble to the whole community and its environs. Arrests were made, suspects paraded and it was the end of the tale.

Plateau State now stands at a critical juncture—a chance to build a future where peace and coexistence prevail. Despite the challenges, the determination of local government leaders, the state governor, security operatives, and civil society organisations is a source of hope. As investigations continue and efforts to maintain peace progress, unity and cooperation among all stakeholders remain paramount. When two are fighting, none winning, looking for peace amidst challenges can be tough. We cannot repeat the same mistake, the innocent must not be made to suffer but also, we must not continue this trajectory, we must look at all sides and be sure…

In conclusion, I would like to call on all residents of Plateau State to remain calm and law-abiding as investigations into these incidents continue. Community leaders and stakeholders must work tirelessly toward lasting peace and reconciliation in our beloved state. Together, we can overcome the challenges and secure a brighter future for Plateau State – May Nigeria win

Former England and  Manchester United midfielder David Beckham is touted to make a sensational return to the Premier League club in an ambassador role if Sheikh Jassim buys the club from the Glazers, according to talkSPORT.

There are speculations the banker is vying with Sir Jim Ratcliffe to buy the Red Devils.

Beckham spent 11 years in the United first-team from 1992 to 2003, before he was sold to Real Madrid.

However, his relationship with Qatar dates back to 2013, when he signed a short-term contract with QSI-owned Paris Saint-Germain.

The 48-year-old was also a guest at Formula 1’s Qatar Grand Prix on Sunday night and had an ambassadorial role at the 2022 World Cup in the Gulf state.

[Newsguru]

President Bola Tinubu on Monday, October 9, approved the appointment of Fela Durotoye and four others to serve in the office of the president under the media and publicity directorate.

Here are ten things to know about Fela Durotoye:

1. He was born in Ibadan, Oyo State on 12 May 1971.

2. Fela Durotoye was born to Layiwola and Adeline Durotoye, both professors at the University of Ibadan.

3. He was the Nigerian presidential candidate of the Alliance for New Nigeria party (ANN) for the 2019 presidential elections.

4. He is an alumnus of the John F. Kennedy School of Government Executive Education program at Harvard University.

5. Durotoye proceeded to earn his Bachelor of Science Degree in Computer Science with Economics, as well as a master’s degree in Business Administration (M.B.A) at Obafemi Awolowo University, Ile-Ife.

6. In 2015, Fela completed the executive seminar program on strategy, innovation, and governance at the Lagos Business School.

7. Fela Durotoye was a financial analyst at Ventures & Trusts Limited in 1992.

8. Fela is married to Tara Fela-Durotoye, a Nigerian make-up artist, lawyer, and CEO of House of Tara.

9. In December 2009, Fela Durotoye championed the urban renewal project “Mushin Makeover”. The project involved Banky W, Alibaba, Kate Henshaw, Omoni Oboli, Teju Babyface, Sound Sultan, TY Bello, Dj Jimmy Jatt, Omawumi, Denrele, Dele Momodu, Tosin Bucknor, Stella Damasus, Tee A, Segun Dangote, Ebuka Obi-Uchendu amongst others, painting and calling for donations of paints for the project.

10. He is the new Senior Special Assistant to the President on National Values & Social Justice.

THREE England-based players, Taiwo Awoniyi, Ola Aina and Jamilu Collins, have all withdrawn from the Super Eagles squad for the friendly matches against Saudi Arabia and Mozambique in Portugal, the Nigerian national team confirmed today.

The Super Eagles face Saudi Arabia on Friday and Mozambique next Monday, with both matches to be held in Portimao, Portugal.

Nottingham Forest pair Awoniyi and Aina have been replaced with Tyrone Ebuehi and Sadiq Umar respectively, while Chidozie Awaziem comes in for Cardiff City defender Collins.

Both striker Awoniyi and defender Aina missed recent Premier League fixtures for Forest with injuries.

Awoniyi missed Saturday’s 0-0 draw at Crystal Palace with a knock while Aina was not in the squad for the 1-1 draw with Brentford on October 1 and Saturday’s clash.

On his part, left-back Collins, who has made nine appearances in the Championship this season after recovering from a long-term injury, played all 90 minutes on Saturday as Cardiff drew 1-1 with Watford.

The Super Eagles players are expected to arrive in Faro, Portugal from tomorrow for the games.

The Nigeria Football Federation says the friendlies have been arranged as tune-up games for the Super Eagles ahead of the 2026 World Cup qualifiers.

The three-time African champions begin the race by hosting Lesotho in Uyo on November 17 before travelling away to play Zimbabwe four days later.

[NaijaNews]

The Enugu State House of Assembly has approved a N170 billion loan facility to the administration of Governor Peter Mbah.

Naija News understands that the loan facility is used to fund capital projects, among others, in the state.

On Monday, the House unanimously approved the request, saying that it would enable the government to deliver on its mandate, especially in providing critical infrastructure needed to attract investments to the state.

The lawmakers also said it was a good move because the loan would run its entire course in the governor’s first tenure.

According to SaharaReporters, a draft of the loan request shows that N100 billion is for a bank guarantee line while N10 billion is for a term loan, N10 billion is for an overdraft facility, and N50 billion for a credit facility.

In a letter signed by the Secretary to the State Government, Prof. Chidiebere Onyia, and addressed to the Enugu State  Speaker, Hon Uchenna Ugwu, it was disclosed that the request followed approval from the Enugu State Executive Council of the offer of N100 billion bank guarantee line, N10 billion term loan and N10 billion overdraft facility from Fidelity Bank and N50 billion credit facility from Globus Bank.

The N100 billion bank facility will guarantee payment for contracts issued to approved contractors.

The loan will be repaid via Irrevocable Standing Payment Order (ISPO) on consolidated Enugu State IGR accounts, which would be domiciled in Fidelity Bank and domiciliation of JAAC/FAAC/Infrastructure Support.

The N10 billion term loan is on a tenure of 48 months and a monthly repayment via ISPO on consolidated Enugu State IGR accounts, which will be domiciled in Fidelity Bank and domiciliation of JAAC/FAAC/Infrastructure Support. It will be used for infrastructural development.

The N10 billion overdraft facility will be used for prompt payment of recurrent expenditures such as salaries and has a tenure of 12 months with monthly clean up and repayment via ISPO on consolidated Enugu State IGR accounts, which will be domiciled in Fidelity Bank and domiciliation of JAAC/FAAC/Infrastructure Support.

The N50 billion credit facility is for the refinancing of the outstanding receivables from the Enugu State Government, and the repayment plan is 42 months equal and consecutive monthly repayment of principal and interest, which will be debited from Enugu State FAAC account with Globus Bank PLC.

[NaijaNews]

Sevilla have sacked Coach Jose Luis Mendilibar after winning just two of their opening eight La Liga games this season.

Saturday’s 2-2 league draw at Rayo Vallecano left Sevilla in 14th position in the standings with eight points taken of a possible 24.

Mendilibar, 62, took the helm of Sevilla in March and guided the club to defend their La Liga status and won the Europa League for a record-extending seventh time.

“The club wants to thank the services provided by the Basque coach, whose role will go down in the club’s history by winning the seventh Europa League,” the club said in a statement.

Sevilla will host LaLiga leaders Real Madrid on October 21 before welcoming Arsenal to the Sanchez Pizjuan stadium in the Champions League three days later.

Under Mendilibar, the team drew their opening two Champions League games against Lens and PSV Eindhoven.

They sit third in the standings, two points adrift of group leaders Lens and one point adrift of Arsenal.

[Leadership]

Oil prices rallied while the dollar and yen advanced Monday after Hamas launched a shock attack on Israel at the weekend, sparking fresh concerns about tensions in the Middle East.

The crisis fanned concerns about supplies of crude from the region at a time when supply worries are already high owing to Saudi Arabia and Russia’s output cuts.

It has also renewed fears about the impact on inflation, with energy costs a key driver of spiking prices, giving a fresh headache to central banks as they try to ease up on interest rate hikes to avoid recessions.

The surprise attack and Israel’s declaration of war in response to it have left more than 1,000 dead and raised concerns that a potential broadening of the conflict could draw in the United States and Iran.

“Key for markets is whether the conflict remains contained or spreads to involve other regions, particularly Saudi Arabia,” said ANZ Group’s Brian Martin and Daniel Hynes.

“Initially at least, it seems markets will assume the situation will remain limited in scope, duration, and oil-price consequences. But higher volatility can be expected.”

Both main contracts surged more than five per cent in early Asian business before easing back as the day wore on.

However, SPI Asset Management’s Stephen Innes warned: “Historical analysis suggests that oil prices tend to experience sustained gains after the Middle East crises.

“Meanwhile, stocks tend to eventually recover and trend higher after an initial period of volatility. Safe-haven assets like gold and Treasury, which initially see gains during such crises, tend to fade from their initial price spikes as the situation stabilises.

“But with Middle East analysts considering this to be a pivotal moment for Israel, the view looks incendiary in any current scenario.”

A decidedly risk-off mood also saw investors push into the safety of the dollar, which was up against the pound and euro, as well as the Australian and New Zealand dollars.

The yen, considered one of the safest currencies, strengthened against the greenback, though it still remains locked around 11-month lows.

Gold, another key haven, gained around one per cent.

Equity markets were mixed, with Shanghai dropping on its first day back after a week-long holiday as investors continue to fret over the stuttering Chinese economy.

There were also losses in Mumbai, Singapore, Manila, Bangkok and Wellington, though Hong Kong rose in shortened trade, having been closed in the morning owing to a typhoon.

Sydney and Jakarta eked out gains. Tokyo was closed for a holiday.

London edged up while Paris and Frankfurt were lower.

The tepid performance came despite a rally on Wall Street, where traders welcomed data showing a forecast-busting jump in new jobs but wage growth slowing.

The “Goldilocks” figures – neither too strong nor too weak – lifted optimism the world’s top economy can avoid a recession even as the Federal Reserve keeps rates elevated.

Still, there are worries the bank will hike one more time before the end of the year, with officials determined to bring inflation to heel and keep it at their two per cent target.

[DailyTrust]

Arab League foreign ministers will meet on Wednesday to discuss Israeli aggression on the Gaza Strip following a surprise assault by Hamas on Israel, the regional bloc announced.

Hamas launched Operation Al-Aqsa Flood on Saturday and said the surprise attack was in response to the storming of the Al-Aqsa Mosque and increased settler violence. It said it fired rockets and captured many Israelis.

The meeting in Eygpt’s capital, Cairo will seek to find “avenues of political action at the Arab and international level”, as Israel keeps pounding targets in Gaza following Saturday’s attack, Arab League deputy Chief Hossam Zaki said in a statement.

The Palestinian Ministry of Foreign Affairs on Saturday, requested an emergency ministerial-level meeting of the Arab League over the latest Israeli escalation.

In a statement, the ministry said it had directed “its permanent delegation to the Arab League to request an emergency meeting of the League Council at the ministerial level.”

The development was reached over “the escalation of the Israeli aggression against the Palestinian people,” it said.

The Moroccan Foreign Ministry on Sunday, also called for an emergency Arab League meeting at the level of Arab foreign ministers for “consultation and coordination on the deterioration of the situation in the Gaza Strip and the outbreak of military actions targeting civilians.”

Intensive consultations are underway for the meeting to be held this week at the headquarters of the Arab League in Cairo, the ministry said in a written statement.

[Punch]

President Bola Ahmed Tinubu has appointed some men and women to serve in the Office of the President under the Media and Publicity Directorate.

A statement signed by Ajuri Ngelale, Special Adviser to the President on Media and Publicity, enumerated the new appointees as follows:

(1) Mr Fela Durotoye Senior Special Assistant to the President — National Values & Social Justice

(2) Mr Fredrick Nwabufo Senior Special Assistant to the President — Public Engagement

(3) Mrs Linda Nwabuwa Akhigbe

Senior Special Assistant to the President — Strategic Communications

(4) Mr Aliyu Audu

Special Assistant to the President — Public Affairs

(5) Mr Francis Adah Abah Personal Assistant to the President — Special Duties

According to the statement, the President has further approved the secondment of Mrs. Linda Nwabuwa Akhigbe to serve as the Communications Adviser to the President of the ECOWAS Commission.

He tasks all new appointees who are serving in the Media and Publicity Directorate to uphold the highest standards of decorum and decency in their engagements with all members of the public as they advance the President’s determined bid to renew the hope of Nigerians in a restructured economy and unified society that caters sufficiently to the needs of all.

The President reportedly followed the full tenets of Nigeria’s federal character principle and the supremacy of merit in this new appointment

[DailyPost]