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Prominent northern leaders have issued a stern caution against the proposed relocation of United States and French military bases from the Sahel to Nigeria. The warning is contained in an open letter addressed to President Bola Tinubu and the National Assembly leadership, Those who signed the letter, as par Daily Trust, include Abubakar Siddique Mohammed of the Centre for Democratic Development, Research and Training (CEDDERT), Zaria; Kabiru Sulaiman Chafe, a former Minister of State for Petroleum Resources, representing the Arewa Research and Development Project (ARDP), Kaduna; Attahiru Muhammadu Jega, who is a former Chairman of the Independent National Electoral Commission…
In a move set to reshape Nigeria's electricity landscape, the Nigerian Electricity Regulatory Commission (NERC) has issued a directive to establish the Nigerian Independent System Operator of Nigeria Limited (NISO) within the next 30 days, leading to the division of the Transmission Company of Nigeria (TCN). The order, identified as NERC/2024/45 and dated April 30, was signed by the Chairman/CEO of NERC, Sanusi Garba, and Vice Chairman, Musiliu Oseni. It mandates TCN to finalize the identification and mapping of assets and liabilities for the system/market operation segment of its business within 30 days and submit them to the Commission and…
Katsina State Governor, Dikko Radda, has leveled accusations against certain security personnel and government officials, alleging their involvement in aiding banditry, which he claims has evolved into a lucrative "business venture." Speaking on Channels Television's Politics Today, Governor Radda highlighted systemic challenges hindering efforts to curb banditry, emphasizing poverty and injustice as significant catalysts. Contrary to claims linking the insecurity to politics, Radda stressed the dire economic conditions driving many northern youths into banditry, often for as little as N500. Shedding light on recent trips by northern governors to the United States, Radda clarified that the initiative was at the…
Investigation reveals that the Federal Government has amassed a staggering sum of N11 trillion through auctions and sales of Treasury bills and saving bonds issuance over the past four months, as uncovered by The PUNCH. An in-depth analysis of bonds and bills results issued in the first four months of the year by both the Central Bank and the Debt Management Office indicates that the government secured N3.1 trillion in FGN bonds and N7.92 trillion in T-bills between January and April 2024, totaling N11.2 trillion. These bonds play a pivotal role in the government’s debt management strategy, serving various purposes…
Russian military personnel have entered an air base in Niger that is hosting U.S. troops, a senior U.S. defense official told Reuters, a move that follows a decision by Niger's junta to expel U.S. forces from the country. The military officers ruling the West African nation have told the U.S. to withdraw its nearly 1,000 military personnel from the country, which until a coup last year had been a key partner for Washington's fight against insurgents who have killed thousands of people and displaced millions more. A senior U.S. defense official, speaking on condition of anonymity, said Russian forces were…
The expectations of workers were dashed as the Federal Government refrained from unveiling the long-awaited increase in the minimum wage yesterday. President Bola Tinubu, however, pledged to enforce a living wage that reflects the current economic circumstances. Addressing attendees during the May Day celebration at the Eagle Square in Abuja, Tinubu, represented by Vice President Kashim Shettima, acknowledged the diligent efforts of the Tripartite Committee in proposing a national minimum wage. He expressed regret over the committee's inability to reach a consensus at its last meeting but assured resolution soon. Tinubu emphasized the government's openness to considering not just a…
Contrary to President Bola Tinubu's announcement at the World Economic Forum in Riyadh, Maersk, the Danish shipping behemoth, has refuted claims of a proposed $600 million investment in Nigeria's port infrastructure. Tinubu had touted A.P. Moller-Maersk's commitment to bolstering Nigerian ports to accommodate larger vessels, thereby stimulating trade and economic growth. However, Maersk swiftly denied any such agreement, clarifying that no deals had been finalized. The confusion stemmed from a routine meeting between Robert Maersk Uggla, Chairman of A.P. Moller-Maersk, and Tinubu, which did not result in new investment commitments. While reaffirming its longstanding presence in Nigeria and commitment to…
Minister of Power, Adebayo Adelabu, sparked outrage with his warning that Nigeria faces a nationwide blackout within three months unless the proposed electricity tariff hike is implemented. Adelabu delivered this ultimatum during his appearance before the Senate Committee on Power, which is scrutinizing the tariff hike proposed by the Nigerian Electricity Regulatory Commission (NERC). Despite the Senate committee's rejection of the new tariff regime, Adelabu stressed the necessity of the increase to prevent a complete shutdown of the power sector. His remarks triggered a wave of indignation on social media, with Nigerians denouncing the government's insensitivity to the plight of…
Federal Government on Tuesday raised salaries for government workers by between 25% and 35%, backdated to January, the salaries commission said, as Africa's biggest economy grapples with its worst cost of living crisis in nearly three decades. The lowest-paid government employee will earn 450,000 naira ($323.97) a year or 37,500 monthly, the National Salaries, Incomes and Wages Commission said in a statement. The increase covers all federal government employees, including those in the health, education and security sectors. The government is separately negotiating with labour unions on a new national monthly minimum wage, which was last reviewed in 2019. Nigerians…
In a circular issued on Monday by the Nigerian Electricity Regulatory Commission (NERC), the deregulation of meter prices under the Meter Asset Provider (MAP) scheme for end-user customers has been announced. This move, effective May 1, entails determining meter prices through competitive bidding processes, providing customers with a choice of authorized vendors. Previously, in September 2023, NERC approved price increases for single-phase and three-phase electricity meters. However, under the new directive, all meter prices will be subject to competitive bidding to adapt to changes in macroeconomic parameters, particularly exchange rates. NERC emphasized the need for efficient pricing to enable end-users…
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May 10, 2024

SEC introduces new regulations on private companies’ securities issuance, allotment

The Securities and Exchange Commission (SEC) has unveiled fresh regulations governing the issuance and allotment…
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Ndume to FG: ‘You can’t be loading taxes on people when you are not increasing…

Ali Ndume, the Senate Chief Whip, has voiced criticism against the contentious cybersecurity levy, arguing…
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Here’s when people think old age begins — and why experts think it’s starting later

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Bandits slaughter 30 farmers in Zamfara

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What to know after Day 807 of Russia-Ukraine war

WESTERN PERSPECTIVE Russian forces attack Ukraine's Kharkiv region, striking on new front Russian forces launched…
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Wellspring Consulting proposes cybersecurity investment to boost Nigeria's economy

In a bid to rescue Nigeria from its economic challenges, Wellspring Consulting advocates for significant…
April 30, 2024

Finidi George is new Head Coach for Super Eagles

Former Nigerian winger Finidi George has been appointed as the head coach of the national…

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