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Friday, 14 October 2022 05:41

El-Rufai to FG: NNPCL has failed. Just get out of the oil and gas business

Federal Government has failed in the oil and gas business and should get out of the sector, Kaduna State governor, Nasir El-Rufai, has said. He said this on Thursday while speaking at KADINVEST, an annual event organised by Kaduna State Investment Promotion Agency. Speaking on the theme of this year’s KADINVEST, ‘Building a Resilient Economy’, the governor said whatever the government manages turns out bad. He said sectors doing well in the country like entertainment, telecoms, fintech and others have no government involvement. According to him, nothing has changed with the commercialisation of the Nigerian National Petroleum Company in July…

Friday, 14 October 2022 05:35

What to know after Day 233 of Russia-Ukraine war

Civilians in "annexed" southern Kherson region started to flee to Russia amid Ukrainian advances and evacuees were expected to begin arriving there on Friday; a Russian-installed official suggested residents should leave for safety, a sign of Moscow's weakening hold on territory it claims to have annexed. * A Russian region adjoining Ukraine said it was preparing to receive refugeesfrom the Russian-held part of Kherson. FIGHTING * Ukraine's armed forces have re-taken more than 600 settlements in the past month, including 75 in the strategic Kherson region, the government said. * Governor of a Russian border region accused Ukraine of shelling…

Thursday, 13 October 2022 17:38

Nnamdi Kanu discharged of terrorism charges by Appeal Court

Two judges at the Court of Appeals on Thursday dropped terrorism charges against separatist leader Nnamdi Kanu that had been brought against him by the government. The last of the three judges at the court was still reading their ruling. The lead judge dismissed a seven count charge of terrorism against Kanu and discharged him, citing that a lower court had no jurisdiction to try the case and that Kanu was abducted and extraordinarily extradited to Nigeria. This was a position the second judge agreed with. Kanu leads the Indigenous People of Biafra (IPOB), which campaigns for the secession of…

Thursday, 13 October 2022 06:30

FG to borrow fresh N225bn through bond issuance

Federal government through the Debt Management Office (DMO) has called for application for N225bn bond. DMO said auction for the bond which are in three categories and valued at N75bn each would begin on 17 October ‘Offers for Subscription by Auction and is authorized to receive applications for N75,000,000,000, 14.55 per cent due April 2029 (10 years Re-opening), N75,000,000,000, 12.50 per cent due 2032 (10 years Re-opening) and N75,000,000,000, 16.2499 per cent due April 2037 (20 years Re-opening)” It stated that settlement date is on 19 October, 2022 with unit sale of N1,000 per unit subject to a minimum subscription…

Thursday, 13 October 2022 06:28

Buhari swears in Ariwoola as substantive CJN

President Muhammadu Buhari on Wednesday swore in Olukayode Ariwoola as the substantive chief justice of Nigeria (CJN). The swearing in ceremony took place before the weekly federal executive council (FEC) meeting at the state house, Abuja. Rotimi Akeredolu, Ondo state governor, and Seyi Makinde, governor of Oyo, were present at the event. In July, the president asked the senate to confirm the appointment of Ariwoola as the substantive CJN. The senate had on September 21 confirmed his appointment during plenary. Ariwoola has been holding the office since the resignation of Ibrahim Muhammad. Muhammad resigned after 14 justices of the apex…

Thursday, 13 October 2022 06:24

Anambra imposes levies on burial, wedding banners, others

Anambra State Government, on Wednesday, slammed a tax of N100,000 for the display of burial banners and posters across the state. According to the policy, those willing to paste burial and other event posters in any part of the state would pay a N5,000 tax which will last for two weeks. The new rates were contained in a letter addressed to the National President, Anambra State Association of Town Unions and signed by the Managing Director/Chief Executive Officer, Anambra State Signage and Advertisment Agency, Tony Ujubuonu. It also stated that the agency will from November 1, 2022, begin the enforcement…

Thursday, 13 October 2022 06:21

What to know after Day 232 of Russia-Ukraine war

Ukraine’s capital region was struck by Iranian-made kamikaze drones early Thursday morning, sending rescue workers rushing to the scene as residents awoke to air raid sirens for the fourth morning in a row following Russia’s massive, deadly assault across the country on Monday. Kyiv regional governor Oleksiy Kuleba said the strike occurred in the area around the capital city. It was not yet clear if there were any casualties. Deputy head of the presidential office Kyrylo Tymoshenko said on Telegram that “critical infrastructure facilities” in the area were hit, without offering any details on which ones. In the southern city…

Wednesday, 12 October 2022 05:49

Buhari’s wife, Aisha, Okonjo-Iweala, CJN Ariwoola, 400+ others got national honours yesterday. Here the president lists qualifications for the awards

President Muhammadu Buhari says the persons who received national honours were awarded for their contributions to fostering national development. The president conferred national honours on over 400 Nigerians and seven foreigners on Tuesday. Speaking at the event, which held in Abuja, Buhari said those who received the awards were symbols of bravery, commitment, selflessness, sacrifice, and dedication to fostering sustainable development. Those who received the highest category of the awards — the grand commander of the order of the Niger (GCON) — are Ngozi Okonjo-Iweala, director-general of the World Trade Organisation (WTO); Senate President Ahmed Lawan; Olukayode Ariwoola, chief justice…

Wednesday, 12 October 2022 05:48

Nigeria oil production continues slump amid onshore shutdown

Nigeria’s oil output continued to fall in September as some onshore production ground almost to a halt, according to government data. The West African country produced a daily average of 1.14 million barrels of crude oil and condensate –- a light hydrocarbon -– last month, about 42,000 barrels fewer than in August, figures published by the Nigerian Upstream Petroleum Regulatory Commission show. Output has declined steadily since the first quarter of 2020, when Nigeria produced roughly double the amount, according to the data. Bloomberg

Wednesday, 12 October 2022 05:47

FG explains why Lekki airport was approved

Hadi Sirika, minister of aviation, says the Lagos state economy, which plays host to about 200 financial institutions, needs to be connected to the rest of the world. Sirika said this at the Ehingbeti Lagos Economic summit on Tuesday, while presenting a letter of approval for a new airport in the state. The minister, who acknowledged the economic potential of the state, said the federal government did not hesitate to approve Lagos’ request for a new airport because its rich culture, history, industries, and tourism potentials need to be linked and shared with Africa and beyond. “This city, which houses…

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Wednesday, 12 October 2022 05:45

Britons turn to electric blankets, candles as winter looms

British shoppers are stocking up on electric blankets, candles and energy-efficient slow cookers as surging gas bills and record food price inflation force millions of people to prepare for a tough winter ahead. Market research released on Tuesday showed that grocery inflation hit another new record of 13.9% in September, deepening the cost-of-living crisis, while BRC-KPMG data showed people were investing in items to help them save cash. The worsening consumer outlook came as the Bank of England was forced to intervene again in the government bond market to maintain financial stability, and as the labour market shrank, potentially adding…

Wednesday, 12 October 2022 05:43

What to know after Day 231 of Russia-Ukraine war

U.S. President Joe Biden said he doubted whether Russian President Vladimir Putin would use a tactical nuclear weapon as Ukraine pleaded for a rapid increase in western military aid to defend against missile strikes on its cities. DIPLOMACY * Ukrainian President Volodymyr Zelenskiy plans to continue his appeals for more military aid to Western leaders in Brussels on Wednesday as they meet on the sidelines of a NATO defence meeting. * NATO told Moscow it would meet any attacks on allies' critical infrastructure with a "united and determined response" and was monitoring Russia's nuclear forces closely as the country was…

Tuesday, 11 October 2022 06:23

Passengers panic as Lagos-bound train breaks down in forest area

Travellers on a Lagos-bound train were stranded on Monday after the locomotive developed a fault in the middle of a forest. A Twitter user, Yinka Seth @inkaseth, who tweeted the incident, claimed that some steel parts of the rail tracks were removed by some hoodlums. The tweet read, “My first tweet went out about 8:12am. It is now 8:31am and the train has stopped twice. The current explanation is that some steel parts of the rail tracks have been ‘removed’, that is the thing about bad governance and citizenship. Eventually, e go touch everybody. “We are less than 5mins from…

Tuesday, 11 October 2022 06:17

What to know after Day 230 of Russia-Ukraine war

Ukraine vowed to strengthen its armed forces after Russia launched its biggest aerial assaults on cities since the beginning of the war, forcing thousands to flee to bomb shelters and prompting Kyiv to halt electricity exports to Europe. CONFLICT * Russian missiles hit targets across Ukraine killing 14 people and wounding 97, emergency services said, as they tore into intersections, parks and tourist sites. * Russia's defence ministry said it had hit "all designated targets" in its massive missile attack on Ukrainian military, communications and energy infrastructure. * Russian President Putin said he ordered "massive" long-range strikes after accusing Ukraine…

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