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Now is the wrong time to remove Nigeria's costly fuel subsidy, Information Minister Lai Mohammed said on Monday, noting many other nations were introducing measures to help citizens cope with high oil energy prices. Africa's largest oil exporter, which still has to import almost all its fuel needs due to lack of refining capacity, scrapped plans to abolish fuel subsidies earlier this year - a move that raised concerns with the International Monetary Fund. "When you consider the chaos, the social disharmony and ... instability such an action (of abolishing subsidies) would facilitate, is it worth it? I don't think…
There has been a drop in the combined generation capacity of Nigeria’s 26 power plants by 70 per cent, industry statistics have shown. According to the latest data sourced from the Nigeria Industry Supply Industry, capacity of the plants dropped from a total of 13,461MW to 4,022MW as of when they were last tested in July 2021. A breakdown of the data showed that the four hydro plants under the Power Purchase Agreement such as Kainji plant (hydro) with an original 760MW capacity, had approximately 153MW capacity as of July last year, while Jebba with 576MW capacity, had 332MW. Shiroro…
The European Union (EU) and its development finance institutions will provide Nigeria with 1.29 billion euros ($1.3 billion) to help Africa's most populous country diversify its economy away from oil, a document from the bloc showed on Monday. Nigeria has been trying to broaden its economy and exports outside the oil sector, which accounts for about 7% of Nigeria's gross domestic product and 90% of its foreign currency earnings. The funding will be provided until 2027 under the EU's "Green Deal" initiative and will, among other things, focus on enhancing access to renewable energy and boosting the development of the…
Sylva Okolieaboh, a director at the Treasury Single Account (TSA) department, has replaced Chukwuyere Anamekwe as acting accountant-general of the federation. An insider told TheCable on Monday that Okolieaboh’s appointment followed an “in-house reshuffle exercise”. A few weeks ago, reports emerged that Anamekwe was “under the radar of Economic and Financial Crimes Commission (EFCC) over corruption allegations”. In May, Anamekwe was appointed amid a probe into allegations of N80 billion fraud linked to Ahmed Idris, former accountant-general of the federation. Last month, Anamekwe claimed that Nigeria was borrowing money to pay salaries. “We have to borrow to augment payment of…
PRESS RELEASE The attention of the leadership of the Evangelical Church Winning All (ECWA), has been drawn to some distorted media report that the Department of State Security (DSS) agents raided one of our facilities in Jos where 21 Muslims/almajiris are held hostage and being forcefully converted to Christianity. These reports are not only false and misleading but a deliberate effort to discredit the church and cause religious crisis. Accordingly, we wish to present the following facts on the allegation: Among numerous ECWA Units is the ECWA Discipleship Unit established under the ECWA Church-Related Ministries Department of the ECWA Headquarters.…
Ukrainian President Volodymyr Zelenskiy said on Monday his armed forces were undeterred in their efforts to "break" Moscow's will to pursue a nearly five-month war, while Russia's Vladimir Putin hailed his military's victory in the grueling battle of Luhansk. Russia captured the city of Lysychansk in eastern Ukraine on Sunday, bringing an end to one of the biggest battles in Europe in generations and completing its conquest of Luhansk province, one of two regions it has demanded Ukraine cede to separatists in the Donbas region. With the war entering its next phase, Ukrainian forces took up new defensive lines in…
President Muhammadu Buhari likes to boast about the progress he claims Nigeria has made under his administration, which started in May 2015. In many speeches and interviews, he talks about his governance records and how he has performed better than his predecessors, particularly in the areas of anti-corruption, economy, and security. In addition, the president almost always blames past administrations for current challenges, many times citing the “near destruction of the country” under the PDP which had ruled Nigeria and produced three presidents – Olusegun Obasanjo (1999-2007); late Umaru Yar’Adua (2007-2010); and Goodluck Jonathan (2010-2015) – in 16 years. On…
Nigeria’s human rights record is “very poor” and is “worse than [the] average in sub-Saharan Africa,” a new report by an international organisation has said. The report was authored and released on Wednesday by the Human Rights Measurement Initiative (HRMI), a New Zealand-based organisation measuring the human rights performance of countries. The HRMI “Rights Tracker” is the first global report to assess the 13 different human rights contained in United Nations treaties for around 200 countries. “Compared with other countries in Sub-Saharan Africa, Nigeria is performing worse than average,” the report said, confirming what observers and rights advocates are saying…
Presidents of West Africa’s regional bloc agreed Sunday to lift economic and financial sanctions on Mali after the nation’s military leaders agreed to a return to democracy by 2024. The Economic Community of West African States, or Ecowas, also said Burkina Faso has decided on a 24-month transition to civilian rule. The bloc urged Guinea to submit a timeline for a transition to democracy by the end of July, Jean-Claude Kassi Brou, president of the Ecowas Commission, told reporters in Ghana’s capital, Accra. Mali’s presidential election should be held in March 2024 and Ecowas “demands the non-participation of the transitional…
Ukraine's President Volodymyr Zelenskiy on Sunday acknowledged Kyiv's forces had withdrawn from Lysychansk in the eastern Donbas region after a grinding Russian assault, but vowed to regain control over the area with the help of long-range Western weapons. Russia said its capture of the city of Lysychansk less than a week after taking neighbouring Sievierdonetsk gave it full control of the eastern Luhansk region - a political win that meets a key Kremlin war goal. The battlefield focus now shifts to the neighbouring Donetsk region, where Kyiv still controls swathes of territory. "If the commanders of our army withdraw people…
May 13, 2025

NGX records significant growth in Q1 2025 trading activity

The Nigerian Exchange Limited (NGX) reported a remarkable 44.8% surge in equity transactions for Q1…
May 12, 2025

Northern leaders demand urgent action on insecurity, push for state police

Amid worsening insecurity across Nigeria, the 19 Northern governors and traditional rulers have called for…
May 10, 2025

The No. 1 lesson I learnt about relationship building, from a human connection specialist

Developing healthy, lifelong connections is something that Mark Groves knows all about: He equips individuals…
May 10, 2025

Town residents involutarily get high after Police burn 20 tons of confiscated cannabis

The 25,000 residents of Lice, a town in Turkey’s Diyarbakır province, involuntarily got high after…
May 13, 2025

Terrorists attack Nigerian army base in Borno, troops missing, sources say

Suspected Islamist militants attacked a Nigerian army base and captured soldiers and ammunition during a…
May 13, 2025

Here’s the latest as Israel-Hamas war enters Day 585

Freed Israeli-American hostage leaves Gaza, Israel says no ceasefire An Israeli-American hostage was released from…
May 11, 2025

African diet – plantains and cassava can be as healthy as tomatoes and olive oil,…

Plantains, cassava and fermented banana drink should be added to global healthy eating guidelines alongside…
May 13, 2025

Nigeria's Flying Eagles qualify for World Cup after dramatic win over Senegal

Nigeria's U-20 national football team, the Flying Eagles, have secured their place at the 2025…

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