News

Saturday, 02 July 2022 07:01

Nigeria, Libya’s oil production drops account for OPEC+ output target miss in June - Report

OPEC in June did not deliver on an oil output increase pledged under a deal with allies, a Reuters survey on Friday showed, as involuntary declines in Libya and Nigeria offset supply increases by Saudi Arabia and other large producers. The Organization of the Petroleum Exporting Countries (OPEC) pumped 28.52 million barrels per day (bpd) in June, the survey found, down 100,000 bpd from May's revised total. OPEC had planned to boost June output by about 275,000 bpd. OPEC plus Russia and other allies, known as OPEC+, are unwinding 2020 output cuts made due to the pandemic, although many are…

Saturday, 02 July 2022 06:59

Religious freedom: US senators ask their govt to re-designate Nigeria as violator

Five American senators have asked Antony Blinken, the US secretary of state, to re-designate Nigeria as a country of particular concern (CPC). In December 2020, the US listed Nigeria among countries blacklisted for “violating religious freedom” under the CPC designation. However, in November 2021, Nigeria was removed from the list. In a June 29, 2022 letter, the senators questioned why Nigeria was “inexplicably” removed “despite no demonstrable improvement in the country’s religious freedom conditions”. They cited the attack on St Francis Catholic Church, Owo, Ondo state and the lynching of Deborah Samuel, a female student of Shehu Shagari College of…

Saturday, 02 July 2022 06:58

Germany returns first of Benin Bronzes back to Nigeria

German authorities on Friday returned to Nigeria the first two of more than 1,100 priceless sculptures known as the Benin Bronzes looted by Europeans in the 19th century. British soldiers looted some 5,000 of the artifacts - intricate sculptures and plaques dating back to the 13th century onwards - when they invaded the Kingdom of Benin, in what is now Southsouth Nigeria, in 1897. The spoils made it into museums around Europe and the United States. "This is a story of European colonialism. We should not forget that Germany played an active role in this chapter of history," said German…

Saturday, 02 July 2022 06:57

What to know after Day 128 of Russia-Ukraine war

Russia flattened part of an apartment building while residents slept on Friday in missile attacks near Ukraine's port of Odesa that authorities said killed at least 21 people, hours after Russian troops abandoned the Black Sea outpost of Snake Island. Residents in the resort village of Serhiivka helped workers pick through the rubble of the nine-storey apartment block, a section of which had been destroyed in the early-morning strike. Walls and windows of a neighbouring 14-storey apartment block were damaged by the blast wave. Nearby holiday camps were also hit. "We came here to the site, assessed the situation together…

Friday, 01 July 2022 06:56

EFCC explains why whistleblowers are no longer as many in providing information to tackle financial crimes

Economic and Financial Crimes Commission (EFCC) says some challenges are undermining the effectiveness of the whistleblowing policy. President Muhammadu had recently said around $386 million was recovered in 2021 through the policy enacted by his administration in an attempt to curb corruption and repatriate looted funds. Speaking on Thursday at a townhall meeting organised by the African Centre for Media and Information Literacy (AFRICMIL) in Awka, Anambra state, the EFCC expressed worry over the declining number of whistleblowers in spite rewards offered to informants. The programme, which was supported by the MacArthur Foundation in collaboration with Anambra Civil Society Network…

Friday, 01 July 2022 06:55

Fuel scarcity: Marketers threaten ‘mother of all queues’ over FG’s debts to members

Oil marketers on Thursday warned that Nigeria could witness “the mother of all queues” from next week if the Federal Government fails to pay the 12 months bridging claims being owed operators in the downstream oil sector. Dealers under the aegis of the Independent Petroleum Marketers Association of Nigeria, which controls about 70 per cent of filling stations across the country, also denied being paid N74 billion by the Federal Government as bridging claims for the transportation of petroleum products. On Wednesday, Federal Government through its Nigeria Midstream and Downstream Petroleum Regulatory Authority said it paid N74bn as bridging claims…

Friday, 01 July 2022 06:53

Buhari re-appoints Patience Oniha DG Debt Management Office

President Muhammadu Buhari has approved the re-appointment of Patience Oniha as the Director-General (DG) of the Debt Management Office (DMO) for a second term of five years. This was contained in a statement issued Thursday by Senior Special Assistant to the President on Media and Publicity, Garba Shehu. The presidential spokesman said the renewal took effect from July 1, 2022. He said her appointment for a second term was based on the significant achievements recorded by the DMO in the last five years, under her leadership. According to him, “Amongst the achievements are the introduction of Sukuk and Green Bonds…

Friday, 01 July 2022 06:50

UK agrees deal with Nigeria on illegal migration, foreign criminals

Britain said on Thursday that it has agreed a new deal with Nigeria that would see them work together to tackle illegal migration and speed up the removal of foreign criminals. The government, which has faced criticism for its recently-announced partnership with Rwanda to send asylum seekers to the East African country, said that the agreement with Nigeria would also promote "shared bilateral economic interests". Reuters

Friday, 01 July 2022 06:44

What to know after Day 127 of Russia-Ukraine war

A Russian missile strike in Ukraine's southern port of Odesa early on Friday killed at least 10 people, a regional official said, a day after Ukraine drove Russian forces from the strategic Black Sea outpost of Snake Island. Earlier reports said six people had died in the night-time strike on a residential building, including three children. "The number of dead as a result of a strike on a multi-story apartment building has now risen to 10," Serhiy Bratchuk, spokesperson for the Odesa regional administration said on his Telegram channel. Reuters could not independently confirm details of the incident. It came…

Thursday, 30 June 2022 06:58

Controversial Water Resources Bill makes its way back to House of Reps

The national water resources bill has passed first reading at the house of representatives. The bill is sponsored by Sada Soli, an All Progressives Congress (APC) lawmaker from Katsina state. The proposed law seeks to establish an act that would provide a regulatory framework for Nigeria’s water resources sector. The bill dates back to the eighth national assembly when it was first sent to the parliament by the executive. The bill was passed in 2020 by the green chamber but was later withdrawn following criticism that trailed the decision of the lower parliament. At the time when the bill was…

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Thursday, 30 June 2022 06:57

FG raises tax on cigarettes to 30 percent

Minister of State for Health, Olorunnimbe Mamora, has said the government increased tax on cigarettes from 20 to 30 per cent in June to dissuade Nigerians from tobacco consumption. The minister disclosed this in Abuja on Tuesday while delivering his remark at the launch of the Tobacco Control Data Initiative Dashboard. The event was organised by the federal ministry of health in partnership with the Development Gateway – A digital and data for development initiative. “The Federal Government of Nigeria, with effect from 1st June 2022, commenced implementation of a new three-year tobacco tax regime which will end in 2024.…

Thursday, 30 June 2022 06:56

Senate confirms all Buhari’s 7 ministerial nominees

Senate has confirmed the seven new ministers nominated by President Muhammadu Buhari. The confirmed nominees are Henry Ikechukwu – Abia State; Umana Umana – Akwa Ibom State; Ekumankama Nkama- Ebonyi State and Goodluck Opiah – Imo State. Others are Umar El-Yakub – Kano State; Ademola Adegoroye – Ondo State; and Odum Udi – Rivers State. The ministers were confirmed immediately after their screening exercise on Wednesday. The screening lasted about five hours. While some ministers were asked to take a bow and go, others were asked random questions on the economy, education, insecurity, among others. Many lawmakers spoke highly of…

Thursday, 30 June 2022 06:55

Sultan declares July 9 Sallah day

Sultan of Sokoto and President of the Nigerian Supreme Council for Islamic Affairs (NSCIA), Muhammadu Sa’ad Abubakar III, has declared Thursday 30 June as Dhul Hijjah 1, 1443AH. This means that Saturday 9 July is the Eidul Adha or sallah day, coming after Friday 8 July, which is Arafat Day.A statement from the National Moon Sighting Committee (NMSC), said that Sultan Abubakar has declared Thursday 30th June as the first day of Dhul Hijjah. “Eidul Adha will be on Saturday, 10th Dhul Hijjah 1443H (9th July 2022) In Sha Allah. “His Eminence, the Sultan hereby calls upon the Muslim Ummah…

Thursday, 30 June 2022 06:53

Russia warns West: If you seize our assets, we’ll confiscate yours

Russia hinted on Wednesday that it had not dropped the idea of seizing Western-owned assets and businesses in the country, as a top official sharply criticised governments that have hit Moscow with sanctions. In a combative media briefing, Foreign Ministry spokesperson Maria Zakharova warned that Russia was prepared to “act accordingly” if the West decided to use Russia’s frozen state assets - chief among them being around $300 billion of central bank foreign currency reserves. The use of the funds “will be interpreted by us as an unlawful and defiantly unfriendly attack, giving us the right to take retaliatory actions…

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