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Tuesday, 09 August 2022 06:39

National electricity grid system collapsed 222 times in 12 years - Report

Nigeria’s electricity grid suffered 222 partial and total system collapses from January 2010 to June 2022. According to Thisday, an analysis of industry data — mostly from the Nigerian Electricity Regulatory Commission (NERC) — from January 2010 to September 2021 showed that the grid suffered 216 system collapses. It added that information relating to the crashes was not officially available from September 2021 to June 2022. The grid collapsed in February, May, July, and August 2021. Last month, it experienced collapse for the seventh time in 2022. TheCable had reported that the grid experienced 206 collapses between 2010 and 2019.…

Tuesday, 09 August 2022 06:38

Jailed ex-govs Dariye, Nyame released from prison 4 months after Buhari’s pardon

Joshua Dariye, former governor of Plateau, and Jolly Nyame, former governor of Taraba, have been released from the correctional facility in Kuje council area, federal capital territory (FCT). The development comes almost four months after the former governors were granted state pardon. At a council of state meeting presided over by President Muhammadu Buhari in April, Dariye and Nyame were among 159 inmates pardoned. The two former governors, who were both jailed for fraud, were granted pardon on the grounds of age and ill health. Nyame was convicted in 2018 and given 14 years imprisonment for diverting public funds, but…

Tuesday, 09 August 2022 06:37

WAEC releases 2022 WASSCE results

West African Examinations Council has released 2022 West African Senior School Certificate Examination results for school and withheld the results of 365,564 candidates in connection with various reported cases of examination malpractice. Speaking on Monday at the WAEC office, Yaba, Head of Nigeria National Office, Patrick Areghan, while announcing release of the results, said students’ preparations for the examinations were poor, adding that candidates were no longer ready to learn. He explained that the 365,564 candidates represented 22.83% of the total number of candidates that sat for the examination, saying the number was 11.74% higher than the 10.9% recorded in…

Tuesday, 09 August 2022 06:36

What to know after Day 167 of Russia-Ukraine war

Kyiv and Moscow traded blame on Monday for the weekend shelling of Ukraine's Zaporizhzhia nuclear complex amid international alarm that their battle for control of the plant could trigger catastrophe. Calling any attack on a nuclear plant "suicidal", United Nations chief Antonio Guterres demanded U.N. nuclear inspectors be given access to Zaporizhzhia, the largest complex of its kind in Europe. Russia's invading forces seized the southern Ukrainian region containing Zaporizhzhia in March, when the site was struck without damage to its reactors. The area, including the city of Kherson, is now the target of a Ukrainian counter-offensive. Ukraine appealed for…

Monday, 08 August 2022 03:57

Nigeria’s oil production continues to decrease, dealing huge blows to revenue projections. Here’s the pattern in the last 6 months

Nigeria’s crude oil production decreased in July to an average of 1.08 million barrels per day (bpd) from 1.16 million the previous month. Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said this in its latest crude oil and condensate production data for July 2022. The report shows a 6.42 percent decrease from June’s production figures. With the addition of condensate, oil output in July grew to a total of 1.31 million bpd from 1.40 million posted last month. Condensate is a mixture of light liquid hydrocarbons, similar to a light (high API) crude oil — usually separated out of a natural…

Monday, 08 August 2022 03:54

Debt servicing to hit N10.43tn by 2025 - FG

Federal Government has projected that debt servicing will cost N10.43tn by 2025, according to the 2023-2035 Medium Term Expenditure Framework & Fiscal Strategy Paper. This is a 182.66 per cent increase from the N3.69tn budgeted for debt service in 2022. Multilateral agencies and economists have constantly warned the Federal Government about the rising cost of debt service, which can trigger a crisis for the country. However, Minister of Finance, Budget and National Planning, Zainab Ahmed, and Director General of the Debt Management Office, Patience Oniha, have insisted that the country does not have a debt problem but a revenue challenge.…

Monday, 08 August 2022 03:53

UAE tightens visa rules for Nigerians

When a video emerged last week of some Africans causing a public disturbance in Dubai, the United Arab Emirates (UAE), it was clear the government of the Middle East country would react appropriately in a bid to protect the country and its citizens from any form of harm. In the video, youths were seen fighting in a Dubai community and destroying public property. An unconfirmed report claimed that a Dubai Police officer was killed by the hoodlums. The Nigerian Community in Dubai under the umbrella of the Nigerians in Diaspora Organisation (NIDO), United Arab Emirates (UAE) chapter, swiftly condemned the…

Monday, 08 August 2022 03:52

London Museum to return Benin Bronzes to Nigeria

London's Horniman Museum said on Sunday it would return 72 artefacts, including 12 brass plaques known as Benin Bronzes, looted from Benin City by British soldiers in 1897 to the Nigerian government. Created from brass and bronze in the once mighty Kingdom of Benin in what is now Southsouth Nigeria from at least the 16th century onwards, the Benin Bronzes are among Africa's most culturally significant artefacts. They were seized, along with thousands of other items, in a British military incursion, and ended up in museums in Europe and the United States. African countries have battled for years to recover…

Monday, 08 August 2022 03:51

In blow to West’s sanctions, Turkish banks are adopting Russian payments system

Five Turkish banks have adopted Russia’s Mir payments system, Turkey’s President Recep Tayyip Erdogan said on his return from talks with President Vladimir Putin in the Black Sea resort of Sochi. There are serious developments regarding the work that Turkish banks are doing on Russia’s Mir card, Turkey’s state-run Anadolu Agency cited Erdogan as saying on the plane. That’s a relief for both Russian tourists and Turkey, he told reporters. Payment in rubles will be a source of financial support for both Russia and Turkey, he said, adding the central bank governors of the two countries also met during the…

Monday, 08 August 2022 03:49

What to know after Day 166 of Russia-Ukraine war

Ukraine said on Sunday that renewed Russian shelling had damaged three radiation sensors and hurt a worker at the Zaporizhzhia power plant, in the second hit in consecutive days on Europe's largest nuclear facility. Ukrainian President Volodymyr Zelenskiy called Saturday night's shelling "Russian nuclear terror" that warranted more international sanctions, this time on Moscow's nuclear sector. "There is no such nation in the world that could feel safe when a terrorist state fires at a nuclear plant," Zelenskiy said in a televised address on Sunday. However, the Russian-installed authority of the area said it was Ukraine that hit the site…

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Sunday, 07 August 2022 06:08

Nigeria deploys newly acquired warship to Guinea Bissau on ECOWAS mission

Nigeria has deployed its newly acquired Landing Ship Tank (LST) named the Nigerian Navy Ship (NNS) KADA to Guinea Bissau on an ECOWAS peacekeeping operation in that country. It was learnt that the mission is part of Nigeria’s effort in strengthening and enhancing security in the West African Sub-region. Speaking to journalists during the ceremonies to see the vessel off, the Flag Officer Commanding (FOC) Western Naval Command, Yakubu Wambai, a Rear Admiral, talked on the expectations and importance of the operation, explaining that it is part of the constitutional responsibility of the navy in supporting peace-keeping operations in the…

Sunday, 07 August 2022 06:06

What to know after Day 165 of Russia-Ukraine war

Head of the International Atomic Energy Agency (IAEA) raised grave concerns about shelling at the Zaporizhzhia nuclear power plant in Ukraine, saying it showed the risk of a nuclear disaster. MORE ON ZAPORIZHZHIA PLANT * Ukraine's Prosecutor General's office said it had started criminal proceedings against what it said was rocket and artillery shelling by the Russian military of the Zaporizhzhia power plant on Friday. * Shells hit a high-voltage power line at the plant, prompting operators to disconnect a reactor despite no radioactive leak being detected. The plant was captured by Russian forces in early March, but it is…

Saturday, 06 August 2022 03:46

What to know after Day 164 of Russia-Ukraine war

Russia and Ukraine accused each other of shelling Europe's biggest nuclear power plant as fighting raged again in the crucial border region of the Donbas and three more ships left ports carrying previously blockaded Ukrainian grain. MORE ON ZAPORIZHZHIA PLANT * Ukraine's state nuclear power company Energoatom blamed Russia for the damage at the Zaporizhzhia power station. * Russia's defence ministry accused Ukrainian forces of shelling the plant, saying a leak of radiation had been avoided only by luck. * Shells hit a high-voltage power line at the Russian-occupied plant, prompting operators to disconnect a reactor despite no radioactive leak…

Friday, 05 August 2022 07:10

Govs met Buhari and tabled far-reaching measures to address Nigeria’s worsening economy. These are their suggestions

Governors of the 36 states have advised the federal government to offer federal civil servants who are older than 50 years a one-off retirement package to exit the service, as part of coordinated efforts to instill fiscal discipline and prevent the nation from imminent economic collapse. The governors made the proposal at a meeting with President Muhammadu Buhari in July, PREMIUM TIMES gathered from sources privy to details of the meeting. The proposal also urged the government to begin implementation of the updated Stephen Oronsaye Report, which suggested merger and shutdown of agencies and parastatals with duplicated or contested functions…

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