Author: New Daily Prime

Netflix, the global streaming giant, has announced its exit from the Nigerian market, citing the country’s deteriorating economic conditions as the main reason for its decision. This marks a significant retreat for the platform, which entered Africa’s largest economy just six years ago, with the production of Lionheart, a film that helped introduce a new era of high-quality Nigerian cinema to global audiences. Sources within Netflix, speaking to Peoples Gazette, revealed that the company faced substantial losses in paying subscribers. Additionally, the unfavourable exchange rate of the naira against the U.S. dollar further exacerbated the challenges. “We’ve lost too many…

The exit of these companies has raised concerns about the economic stability of the country. The affection sectors include: manufacturing, pharmaceutical, technology, among others, is because of the economic instability, security challenges and others. It needs no business or economy expertise to be able to tell that the departure of these business will greatly affect or has significantly affected the Nigerian economy and the daily lives of Nigerians who were employed by these companies or used their products. 10 companies that have exited Nigeria Here are 10 companies that have left the country in the last two years. GlaxoSmithKline Consumer…

Tobi Adegboyega, a Nigerian-born UK pastor and former leader of Salvation Proclaimers Anointed Church, has addressed reports of his impending deportation to Nigeria. The 44-year-old pastor, who is also a cousin of Star Wars actor John Boyega, has recently lost his legal battle against deportation, despite claiming that the move would violate his human rights. The decision follows a ruling by an immigration tribunal, which ordered Adegboyega’s deportation after investigations revealed financial misconduct within his church. His church, Salvation Proclaimers Anointed Church, was shut down following allegations of a £1.87 million fraud. In response to the situation, Adegboyega took to…

Anambra State Governor, Prof. Chukwuma Soludo, has pledged to end the 21-year power outage at the Chukwuemeka Odumegwu Ojukwu University (COOU), Uli Campus, located in the Ihiala Local Government Area. During his one-day working visit to the campus, Soludo emphasised that the long-standing power issue would be resolved, benefiting not just the university but the entire Uli community. He acknowledged that while the campus environment is generally orderly, it requires significant infrastructure improvements. In a statement released by his Press Secretary, Christian Aburime, Soludo said, “After 21 years of being without electricity, students of Chukwuemeka Odumegwu Ojukwu University, Uli Campus…

Bitcoin has skyrocketed past the $100,000 mark, reaching an all-time high of $103,800, driven by growing investor confidence sparked by U.S. president-elect Donald Trump’s newly embraced pro-crypto stance. The cryptocurrency’s remarkable rally has seen a 50% surge since Trump’s election win in November. The surge accelerated after Trump nominated Paul Atkins, a prominent crypto advocate, to lead the U.S. Securities and Exchange Commission (SEC). Atkins’ appointment signals a shift towards a more crypto-friendly regulatory environment, which has excited investors and market participants alike. In a statement, Kris Marszalek, CEO of Crypto.com, remarked, “Bitcoin reaching $100k is an incredible milestone for…

The Nigerian Senate has paused its deliberation on the controversial Tax Reform Bills, following widespread public opposition. The suspension, announced by Deputy Senate President Jibrin Barau on Wednesday, December 4, includes halting the planned public hearings until the concerns surrounding the bills are addressed. The bills in question are the Joint Revenue Board of Nigeria (Establishment) Bill, 2024, Nigeria Revenue Service (Establishment) Bill, 2024, and the Nigeria Tax Bill, 2024. These reforms have faced significant pushback since their introduction, particularly from northern governors, who argue that the bills are anti-democratic and unfairly target the northern states. The National Economic Council…

Nigeria stands as the African leader in oil refining infrastructure, with nine refineries, more than any other nation on the continent. Africa’s role in the global energy market is significant, producing nearly 10 million barrels of oil daily as of 2024. Yet, the continent’s refining capacity has struggled to meet its fuel demands. Five nations which include Nigeria, South Africa, Ghana, Angola, and Sudan boast the highest number of oil refineries. These countries have made substantial investments to meet domestic demand, create jobs, and reduce reliance on imported petroleum products. However, several other African nations operate only one refinery each,…

The Ekiti State Commissioner of Police, Mr. Adeniran Akinwale, has defended the recent arrest of Lagos-based human rights activist, Dele Farotimi, for alleged cyberbullying and defamation. In an interview with a correspondent on Tuesday, December 3, Akinwale stated that Farotimi was arrested due to charges including defamation of character, cyberstalking, and other related offenses, which he claimed had been “fully established.” “We are investigating him. If the suspect is arrested, we will bring him for investigation,” Akinwale explained, emphasising that a thorough investigation would be conducted to determine Farotimi’s level of culpability, or lack thereof. Farotimi’s arrest has drawn strong…

The Economic and Financial Crimes Commission (EFCC) has linked the former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, to a massive property in Abuja, consisting of 753 duplexes and other apartments. The property, located in the Cadastral Zone area of the capital, spans 150,500 square meters and was recovered following a court ruling on December 2, 2024. This marks one of the EFCC’s largest asset recoveries since its establishment in 2003. The EFCC’s investigation suggests that the property, which was initially intended for mass housing development, was purchased through illegal means. It was allegedly acquired by Emefiele…

Pastor Enoch Adeboye, the General Overseer of the Redeemed Christian Church of God (RCCG), has hinted that his in-law, Pastor Bayo Adeyokunnu, might succeed the late Oba Adekunle Aromolaran as the Owa of Obokun of Ijeshaland in Osun State. Adeyokunnu, who serves as the Deputy Continental Overseer of RCCG in the United States, is reportedly being considered as a possible successor to the throne following the death of Oba Aromolaran on September 12, 2024. Pastor Adeboye made this suggestion during the 70th birthday celebration of Adeyokunnu at the RCCG Victory Temple in Bowie, Maryland, on October 16, 2024. In a…