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Wednesday, 16 November 2022 06:29

Nigeria’s inflation rate rose again in October 2022 – NBS

National Bureau of Statistics (NBS) says Nigeria’s headline inflation rate rose to 21.09 per cent year-on-year basis in October 2022, according to the Consumer Price Index (CPI) and Inflation Report released in Abuja on Wednesday. According to the report, the figure is 5.09 per cent points higher compared to 15.99 per cent recorded in October 2021. “This shows that the general price level for the headline inflation rate increased in October 2022 when compared to the same month in the preceding year. “Meaning that in October 2022, the general price level was 5.09 per cent higher relative to October 2021.’’…

Wednesday, 16 November 2022 06:28

FG approves 1,650 MW hydropower project on PPP

Nigeria has approved the construction of a 1,650 megawatt (MW) hydropower plant at a cost of $3 billion, making it one of the single biggest power projects in the country, the vice president's spokesperson said on Tuesday. The project would be funded under a public private partnership arrangement and located in the north central state of Benue, Laolu Akande, vice president Yemi Osinbanjo's spokesperson, said in a statement. Akande did not say when construction would start. Increasing power supply is expected to top the agenda of the successor to President Muhammadu Buhari, who steps down after elections next year. Africa's…

Wednesday, 16 November 2022 06:21

What to know after Day 266 of Russia-Ukraine war

WESTERN PERSPECTIVE Two people died in an explosion in a Polish village near the border with Ukraine, firefighters said, with NATO allies investigating the cause. * There were unconfirmed reports that Russian missiles landed on Polish territory. * The Russian defence ministry denied the reports, describing them as "a deliberate provocation aimed at escalating the situation". * In Washington, the Pentagon said it could not confirm Russian missiles had landed in Poland. FIGHTING * Missiles hit cities including the capital Kyiv, Lviv and Rivne in the west, Kharkiv in the northeast, Kryvyi Rih and Poltava in the centre, Odesa and…

Tuesday, 15 November 2022 07:01

Buhari has spent 237 days abroad for medical treatment, with cumulative expenses of N64bn. Here’s the breakdown

President Muhammadu Buhari returned to the country on Sunday night, marking his 10th medical return trips from London, and 237 days of either treating or checking undisclosed ailments abroad in the last seven years. Buhari’s medical tourism record, which is unprecedented in Nigeria’s history, as well, costs the country in medical bills and operating cost of the Nigerian Air Force One (NAF 001) airplane. The Guardian estimates showed that the trips already cost between N1.1 billion to N5.4 billion in sundry operational costs, including fuel, landing and parking charges. Stakeholders reckon that the presidential extravagance is fueling steady rise in…

Tuesday, 15 November 2022 07:00

Fiscal Responsibility Commission says it facilitated N725bn revenue for FG in 6 months

Fiscal Responsibility Commission (FRC) says it generated N725 billion from independent revenue, in the first half of 2022. Victor Muruako, chairman of FRC, said this on Monday, at the opening ceremony of a three-day workshop on sustaining the gains of fiscal transparency and accountability in states, held in Lagos. The workshop, which was the third in the series, was themed, ‘strengthening fiscal management at state level’. Independent revenues which include interest on capital, dividends, rental incomes, among others, are generated by agencies as captured by the fiscal responsibility act of 2007. The act stipulates that government agencies must remit 80…

Tuesday, 15 November 2022 06:53

Jeff Bezos gifts $100m to singer Dolly Parton

Country music star and philanthropist Dolly Parton received a $100 million prize from the "Bezos Courage & Civility Award" given by Amazon.com founder, billionaire Jeff Bezos, an honor that recognizes leaders who "pursue solutions with courage and civility," he said online. Bezos, who is also the owner of the space rocket company Blue Origin, announced the award on Friday along with his longtime partner, news anchor Lauren Sanchez. Sanchez said on Instagram that Parton is "a woman who gives with her heart and leads with love and compassion in every aspect of her work." "We can’t wait to see all…

Tuesday, 15 November 2022 06:51

40 US states settle Google location-tracking charges for $392m

Google has agreed to a $391.5 million settlement with 40 states in connection with an investigation into how the company tracked users’ locations, state attorneys general announced Monday, calling it the largest multistate privacy settlement in U.S history. The investigation by the states, which officials said was spurred by a 2018 Associated Press story, found that Google continued to track people’s location data even after they opted out of such tracking. “This $391.5 million settlement is a historic win for consumers in an era of increasing reliance on technology. Location data is among the most sensitive and valuable personal information…

Monday, 14 November 2022 06:23

Buhari back in Nigeria after UK medical trip

President Muhammadu Buhari has returned to Nigeria after a trip to the United Kingdom for health-related reasons. The president had, on October 31, travelled to the UK for “routine” medical checkup. Bashir Ahmad, special assistant to the president on digital communications, announced the return of the president in a tweet on Sunday night. “Welcome back, Baba!” Ahmad tweeted, along with pictures of Buhari alighting from an aircraft. While in the UK, the president met King Charles III — the first meeting between the duo since the monarch ascended the throne. Those present to welcome the president back to Nigeria included…

Monday, 14 November 2022 06:22

What to know after Day 264 of Russia-Ukraine war

WESTERN PERSPECTIVE Ukrainian President Volodymyr Zelenskiy on Sunday accused Russian soldiers of committing war crimes and killing civilians in Kherson, parts of which were retaken by Ukraine's army last week after Russia pulled out. KHERSON RECAPTURE * Zelenskiy said investigators had uncovered more than 400 Russian war crimesand found the bodies of servicemen and civilians in areas of Kherson region freed from Russian occupation. * Reuters was unable to verify his allegations. Russia denies its troops intentionally target civilians. * Utility companies were working to restore critical infrastructure mined by fleeing Russian forces, with most homes in Kherson still without…

Monday, 14 November 2022 06:21

F-22 Raptor fires 28 Air-To-Air Missiles as USAF simulates clash with Russia

US Air Force pilots recently fired a record number of air-to-air missiles from an F-22 Raptor to prepare for an intense war with Russia. Teams from the 94th Fighter Squadron and 94th Fighter Generation Squadrons were able to load and fire a record-breaking 28 missiles across an F-22 unit during a weapons test in September, according to a report in Task & Purpose. One of the conditions of the drills was to perform with a reduced ground crew, indicating that the USAF is seriously preparing for operating under constrained logistical and manpower environments, usually a very realistic scenario in war.…

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Sunday, 13 November 2022 06:06

Two war planes collide, crash in US

Two vintage military planes collided in midair on Saturday at a World War Two commemorative airshow in Dallas, federal officials said, crashing to the ground before exploding into flames. It was not immediately clear how many people were injured or killed. The incident early on Saturday afternoon involved a World War Two-era Boeing B-17 Flying Fortress bomber and a Bell P-63 Kingcobra fighter that were flying at the Wings Over Dallas Airshow at Dallas Executive Airport, the Federal Aviation Administration (FAA) said in a statement. Emergency crews rushed to the site of the crash, airport officials said on Twitter, but…

Sunday, 13 November 2022 06:06

What to know after Day 263 of Russia-Ukraine war

WESTERN PERSPECTIVE Villagers holding flowers waited on the road to the southern city of Kherson to greet and kiss Ukrainian soldiers on Saturday as they poured in to secure control of the right bank of the Dnipro River after a stunning Russian retreat. Volleys of incoming and outgoing artillery fire continued to blast around Kherson's international airport and the police said they were setting up checkpoints in and around the city and sweeping for mines left behind by the Russians. The mayor said the humanitarian situation was "severe" because of a lack of water, medicine and bread in the city…

Saturday, 12 November 2022 05:50

Italian court dismisses Nigeria's $1.1bn compensation request against Eni, Shell

An appeals court in Milan on Friday rejected Nigeria's $1.092 billion compensation request against Italian energy group Eni SpA and Shell Plc in civil proceedings relating to a $1.3 billion oilfield deal. The decision was read out in court. In July prosecutors had dropped related criminal proceedings, clearing Eni and Shell, as well as managers including Eni Chief Executive Claudio Descalzi, in one of the oil industry's biggest alleged corruption cases. The main case revolved around a deal in which Eni and Shell acquired the OPL 245 offshore oilfield in 2011 to settle a long-standing dispute over ownership. Prosecutors alleged…

Saturday, 12 November 2022 05:43

What to know after Day 262 of Russia-Ukraine war

RUSSIAN PERSPECTIVE Russian forces have completed the their redeployment to the left bank of the River Dnieper in Kherson Region, the Defense Ministry has said. The maneuver was completed early Friday morning, according to a statement. The ministry denied reports that military hardware was abandoned during the process, or that Moscow suffered casualties during the withdrawal “Russian units have taken the prepared defensive lines and positions,” the ministry said. “No loss of personnel, weapons, vehicles, or materiel of the Russian forces was allowed. All civilians who wished to leave the right bank of Kherson Region were provided with assistance.” The…

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