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NiMet predicts three days of rain, thunderstorms across Nigeria

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The Nigerian Meteorological Agency, NiMet, has predicted varying weather conditions, including sunshine, cloudiness, thunderstorms and rainfall across different parts of Nigeria between Monday and Wednesday.

The forecast was contained in the agency’s three-day weather outlook released in Abuja on Sunday.

For Monday, NiMet said parts of the northern region would experience sunny weather with intermittent cloud cover, alongside thunderstorms and moderate rainfall in some areas.

In the morning, thunderstorms accompanied by moderate rain are expected over parts of Taraba, Adamawa and Kaduna states. By afternoon or evening, similar conditions are forecast for parts of Borno, Bauchi, Gombe, Jigawa, Katsina, Kano, Kaduna, Adamawa and Taraba states.

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The North-Central region is also expected to record rainfall. NiMet predicted morning thunderstorms with moderate rain over parts of Plateau, Niger, Nasarawa and the Federal Capital Territory.

Later in the day, thunderstorms and moderate rainfall are expected across parts of Kogi, Benue, Plateau, Niger and Nasarawa states, as well as the FCT.

In the southern part of the country, moderate rainfall is expected during the morning over parts of Ondo, Ogun, Cross River, Akwa Ibom, Rivers, Lagos and Bayelsa states. The agency said rainfall would become more widespread across the region later in the day.

NiMet said the weather pattern would persist on Tuesday, although the affected locations would differ.

Morning thunderstorms and moderate rainfall are expected over parts of Zamfara, Sokoto, Kebbi, Adamawa and Taraba states.

By afternoon or evening, thunderstorms accompanied by moderate rainfall are expected in parts of Borno, Jigawa, Yobe, Bauchi, Gombe, Kano, Katsina, Kaduna, Taraba and Adamawa states.

For the North-Central region, NiMet forecast morning thunderstorms and moderate rainfall over parts of Niger and Kwara states, as well as the FCT.

“Later during the afternoon or evening hours, thunderstorms with moderate rains are anticipated across the region,” the agency stated.

In the South, light morning rainfall is expected in parts of Cross River, Delta, Bayelsa, Akwa Ibom, Lagos and Rivers states, while thunderstorms and moderate rainfall are expected to spread across the region later in the day.

For Wednesday, NiMet forecast partly cloudy conditions across the North, with possible morning thunderstorms and light rainfall over parts of Bauchi, Jigawa and Yobe states.

The agency expects thunderstorms and moderate rainfall to become more widespread across the northern region later in the day.

In the North-Central region, sunny conditions with patches of cloud are expected during the morning, followed by thunderstorms and moderate rainfall later.

“Thunderstorms with moderate rains are expected over the entire region later in the day,” NiMet said.

For the South, the agency predicted generally cloudy conditions, with chances of light morning rainfall in parts of Edo, Cross River, Delta, Bayelsa, Akwa Ibom and Rivers states.

NiMet said thunderstorms accompanied by moderate rainfall were expected across the entire southern region later on Wednesday.

The agency advised residents to exercise caution in areas expecting thunderstorms, warning that strong winds could precede rainfall.

It urged residents to secure loose objects that could be blown away by strong winds or cause injuries.

NiMet also cautioned that prolonged rainfall, particularly in coastal areas of the South, could trigger flash flooding.

“Drivers should avoid driving or wading through flood waters. Driving under heavy rain should be avoided.

“Disconnect electrical appliances from electrical sockets. Stay away from tall trees to avoid impact from falling branches and broken trees,” the agency advised.

Airline operators were urged to obtain airport-specific weather information from NiMet to support operational planning.

The agency also advised members of the public to monitor its regular weather updates and consult its official website for further information.

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Business

Sovereign Trust Insurance Up Profit By 296% to N256.4 million Nine Months in 2026

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BY NKECHI NAECHE-ESEZOBOR—Sovereign Trust Insurance Plc has recorded 296 per cent growth in profit after income tax for nine months ended September 30, 2026,

A notice filed by the company on the Nigerian exchange limited shows that profit after income tax rose by from ₦64.7 million in September 2025 to ₦256.4 million in September 2026.

Profit before income tax  for the company stood at  ₦301.7 million, as against  ₦75.9 million reported in 2025, reflecting a 296 per cent increase.

However, Insurance revenue declined by 19 per cent  to stand at ₦32.31 billion, when compared with ₦40.13 billion achieved by the company in September 2025.

Insurance service expenses also came down to ₦14.35 billion from ₦18.31 billion, while net expenses from reinsurance contracts held declined to ₦16.11 billion from ₦20.12 billion.

Insurance service result appreciated  to ₦1.85 billion from ₦1.71 billion in the corresponding period of the previous year.

Investment return increased to ₦1.73 billion from ₦1.38 billion, representing a 26 per cent growth.

Total assets went up from 24.47 billion in September 2025 to ₦41.27 billion as at September 30, 2026, representing a 69 per cent increase.

Total liabilities rose to ₦19.75 billion, compared with ₦10.10 billion in same period of 2025 while total equity increased to ₦21.53 billion from ₦14.32 billion, representing growth of 50 per cent.

The company’s basic earnings per share remained unchanged at seven kobo in both reporting periods.

The financial highlights show improved profitability, investment returns and balance-sheet growth, although insurance revenue declined during the period under review.

The post Sovereign Trust Insurance Up Profit By 296% to N256.4 million Nine Months in 2026 appeared first on Business Today NG.

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Nvidia weighs playing the cosigner for Nscale’s AI data center in West Virginia

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Nvidia is in talks to guarantee billions in debt financing for AI cloud provider Nscale’s planned Anthropic data center in West Virginia, The Information reported Thursday. Bloomberg later corroborated the report. Anthropic has signed a $44.6 billion contract for the project’s first building alone, according to Nscale’s IPO filing. In essence, the chipmaker would be co-signing a customer’s loans, a sign of how hard the AI industry is working to keep its buildout plans afloat as investors grow jittery about the amounts of money involved.

The proposed arrangement would help Nscale secure financing for the electricity and construction costs of its West Virginia campus. Under what’s known as a residual value guarantee, Nvidia would step in if Nscale defaulted on construction payments, temporarily take over the facility, and help find a buyer and new tenant, according to The Information.

Nvidia’s earlier support for cloud providers has mostly covered leases and chip purchases, not construction.

The stakes are high for Nscale, which is seeking to go public at a valuation of up to $35 billion despite growing concerns about its ability to deliver on ambitious data center projects.

Anthropic’s contract with Nscale covers the first 460-megawatt building at Nscale’s West Virginia campus, which is expected to use Nvidia’s next-generation Vera Rubin chips. The companies are also discussing a second deal worth roughly $45 billion for another building.

Nscale has struggled to get its projects off the ground. The company had about 25,000 advanced AI chips running in August, a fraction of the nearly 500,000 it plans to deploy. Its West Virginia campus has run into trouble of its own. Runoff from the construction site has flooded nearby homes more than once. In September, after months of negotiations, the project won state certification. 

This month, Microsoft pulled out of a planned Nscale site in England after grid power for it was pushed into the 2030s.

Nvidia has been a major financial backer of the sector, extending roughly $170 billion in investments and credit support to neoclouds and large customers, according to The Information. That includes $1 billion in convertible financing committed to Nscale in September.

Neoclouds, which rent out AI computing power without a cash-rich core business behind them, have come under pressure from investors. Shares of CoreWeave, Nebius, and IREN had each fallen more than 30% in October as of last week, CNBC reported.

The proposed guarantee would deepen Nvidia’s financial ties to Nscale while helping secure a major customer for its chips. Anthropic, one of the largest buyers of AI computing power, has spread its infrastructure spending across multiple chipmakers. One investor told The Information that Anthropic’s involvement likely explains Nvidia’s interest in keeping Nscale’s project on track.

The discussions also come as Anthropic faces questions about how it will finance its own rapid expansion. The company filed to go public this week, but Blackstone has warned investors that Anthropic may receive a below-investment-grade credit rating after its IPO. A junk rating would raise Anthropic’s borrowing costs and could push it to keep relying on stronger partners to back its debt. 

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