• Thursday, February 29, 2024
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Five things to know to start your Thursday


FG’s public debt rises by N2.45tn

The public debt profile of the Federal Government seems to be rising by the day. This follows the latest information from the Central Bank of Nigeria (CBN) that the FG’s total borrowing through Ways and Means Advances rose to N19.91 trillion in June 2022 from N17.46 trillion in December 2021.

The growth in total borrowings showed that the FG borrowed N2.45 trillion from the CBN in less than eight months. An amount used to finance the shortfalls in the government’s budget. Whether the borrowed funds were specifically made to meet a capital expenditure deficit or used to take care of recurrent expenditure remains unclear.

What is clear is the skyrocketing nature of the debt profile of the federal government.

Terrorists release 7 more hostages of Kaduna train attack

Terrorists who attacked the Abuja-Kaduna bound AK9 train on March 28 have released yet another seven more hostages, leaving twenty-seven in their custody.

The released hostages, who had been held captive for one 130 days, reunited with their families on Wednesday in Kaduna State after speaking with the press.

Among them were three adults and four children. Sheikh Ahmad Gumi, the controversial Islamic cleric, is believed to have played a very critical role in the release of hostages.

However, it wasn’t disclosed if any ransom was paid.

One of the released hostages pleaded with the government to do all it takes to release the remaining 27 held hostages.

Read also: Kaduna train attack: FG mum as terrorists release another video of victims

NAF neutralises terrorist kingpin Alhaji Shanono in Kaduna

The Nigerian Air Force (NAF) said that it has neutralised terrorist leader Alhaji Shanono and some of his gang members in Kaduna State.

A statement from Air Commodore Edward Gabkwet, the Director of Public Relations and Information, read, “The killing of the known terrorist took place on Wednesday after intelligence got to the defence headquarters about an arranged meeting of Alhaji Shanono and his foot soldiers at Ukambo, a village about 131 km from Kaduna.”

The Air component of Operation Whirl Punch was dispatch for interdiction mission at the location.

After confirming the presence of these terrorists and ensuring the absence of civilians within the location, the crew received the authorization to strike.

Feedback received by the crew showed that over 30 rifles and 20 motorbikes were destroyed, while 18 terrorists, including Alhaji Shanono, were neutralized, the NAF said.

Disney tops Netflix on streaming subscribers

Walt Disney’s medium-term objective of topping Netflix as king of streaming services was achieved on Wednesday after reports showed that it edged Netflix with a total of 221 million streaming customers worldwide.

In acknowledging this very important achievement, the company said that it would be increasing the prices for customers who want to watch Disney+ or Hulu without commercials.

According to Reuters, the media giant will raise the monthly cost of Disney+ without advertising by 38 percent to $10.99 in December, when it begins to offer a new option that includes ads for the current price.

Disney rose 6.9 percent in after-hours trading to $120.15 at the close of trading on Wednesday.

US stock futures picks up after July inflation release

US stock futures picked up some steam on Thursday morning after the release of July inflation figures. The report’s findings revealed a ‘softer-than-expected’ inflation rate, which could lead to monetary loosening by the US Federal Reserve.

The futures contracts for the three major indexes rose about 0.2 percent.

However, by the end of regular trading on Wednesday, the Nasdaq Composite had risen 2.9 percent, the Dow had risen 1.6 percent, and the S&P 500 had risen 2.1 percent.

A closure that indicated their best closing position in over three months.