News

Monday, 21 March 2022 06:36

FG borrowed fresh N950bn from local sources in first 10 weeks of 2022 - DMO

Federal Government has incurred N950bn new domestic borrowing between January 2022 and March 11, 2022, the Debt Management Office has revealed. The fresh borrowing was disclosed on March 17 in the presentation of the Public Debt Data as of December 31, 2021, by Director-General of the DMO, Patience Oniha. In the document, Oniha disclosed that the Federal Government was considering all options to raise funds externally. She said, “All options for raising funds externally are being considered. These include funding from multilateral and bilateral sources, the International Capital Markets and the $3.35bn Special Drawing Rights allocated by the International Monetary…

Monday, 21 March 2022 06:35

Police prohibit officers from demanding custom papers, tint permits from drivers

Nigeria Police Force (NPF) on Sunday directed officers across the country to stop requesting Customs papers from drivers. Acting Force Public Relations Officer (FPRO), Olumuyiwa Adejobi, issued the directive via his Twitter handle. Adejobi added that the issuance of tinted glass permits remains suspended. He said officers are only expected to stop such vehicles, search it as well as the occupants. “No policeman should demand your customs papers. Except they are on joint operation, but not just on mere routine checks. “We have suspended issuance of tinted glass permits, so we don’t expect our men to disturb Nigerians on this.…

Monday, 21 March 2022 06:32

What to know after Day 25 of Russia-Ukraine war

Mariupol, a strategic port on the Azov Sea, has been encircled by Russian troops, cut off from energy, food and water supplies, and has faced a relentless bombardment. It has been cut off since the early days of Russian President Vladimir Putin’s invasion of Ukraine launched on Feb. 24, with civilian life relegated to bomb shelters since then and aid groups saying it faces a humanitarian crisis. Russian forces have also cut off its access to the sea of Azov. An adviser to Ukraine’s president said there was no immediate military help for Mariupol, saying the nearest forces able to…

Monday, 21 March 2022 06:31

China 'won't be coerced by US' on its ties with Russia - Official

After the video call between Chinese and US top leaders, the US side and Western media are trying to hype a narrative that Washington is warning Beijing that any attempt "to provide military support" to Moscow would bring consequences. However, Chinese experts said such a ridiculous approach is an arrogant and useless coercion that is doomed to fail, and China has strong confidence in its foreign policy on the Ukraine issue and it will not be coerced by anyone. China's position on the Ukraine issue is objective and fair, and time will prove that it is on the right side…

Sunday, 20 March 2022 06:31

What to know after Day 24 of Russia-Ukraine war

Ukraine’s southern port city of Mariupol was again the site of intense combat on Saturday as Russian forces bombarded the city, damaging a major steel plant. One local police officer pleaded to the West for help, saying Mariupol has been “wiped off the face of the earth.” Mariupol, a city of 430,000, has been the site of some of the war’s greatest suffering. Ukrainian President Volodymyr Zelenskyy said early Sunday that what Russian forces did to the peaceful city “is a terror that will be remembered for centuries to come.” In his nightly address to the nation, Zelenskyy said Ukraine…

Saturday, 19 March 2022 06:13

Despite poor funding of existing ones, N’Assembly initiates laws to establish 186 federal universities

Academic Staff Union of Universities has kicked against the initiation of new bills for the creation of new universities in Nigeria. ASUU wondered why the government would push for the creation of new universities while ignoring the existing ones currently in dilapidated states. National Universities Commission, the regulatory body of universities in Nigeria, puts the total number of federal universities at 49; state-owned universities, 55, and private-owned universities, 99. Though NUC had earlier argued that the number of universities and lecturers in the country might not be enough to cater for the academic needs of Nigerians, ASUU told the government…

Saturday, 19 March 2022 06:11

FG will effect court ruling deleting section 84 (12) of Electoral Act - Malami

Abubakar Malami, attorney-general of the federation (AGF), says the federal government will effect a judgment which ordered the removal of section 84 (12) of the amended Electoral Act, 2022. President Muhammadu Buhari had assented to the electoral act amendment bill on February 25. He, however, asked the national assembly to delete section 84 (12) of the act, which reads: “No political appointee at any level shall be a voting delegate or be voted for at the convention or congress of any political party for the purpose of the nomination of candidates for any election.” On March 9, the senate rejected…

Saturday, 19 March 2022 06:10

Buhari returns to Abuja after trip to London for medical checkup

President Muhammadu Buhari has returned to Nigeria after spending close to two weeks in London, United Kingdom, for a medical checkup. The president arrived the Nnamdi Azikiwe International Aiport, Abuja on Friday night. Buhari had departed Nigeria for London on March 6 for “routine medical checks” according to Femi Adesina, presidential spokesman. Ibrahim Gambari, chief of staff; Muhammed Bello, FCT minister; Sulieman Adamu, minister of water resources; Hassan Sanusi, DIG of police and Yusuf Bichi, director-general of the Department of State Services (DSS), were among those who welcomed the president at the airport. The Cable

Saturday, 19 March 2022 06:09

Broadcasters warn of imminent collapse of Radio, TV stations nationwide due to soaring energy, other costs

PRESS RELEASE There are ominous signs that danger of high magnitude is looming in Nigeria as the conventional media, that has been the key factor in maintaining political stability, security and peace of the country is under serious threat due to the harsh economic environment 1. Even before the announcement of the collapse of the National Electricity Grid, public power supply had been epileptic, at best, and bills for the non-available power supply kept and keeps rising unabated. 2. There is a lingering scarcity of petroleum products and diesel, which fuels the generating sets of these organisations, has more than…

Saturday, 19 March 2022 06:08

What to know after Day 23 of Russia-Ukraine war

Russian President Vladimir Putin praised his country’s troops at a huge flag-waving rally in Moscow as Russian forces strike Ukrainian cities from a distance again, pounding the capital of Kyiv and the country’s west. The war is now in its fourth week. Russian troops have failed to take Kyiv — a major objective in their hopes of forcing a settlement or dictating Ukraine’s future political alignments — but have wreaked havoc and devastation. The U.N. migration agency says the fighting has displaced nearly 6.5 million people inside Ukraine, on top of the 3.2 million refugees who have already fled the…

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Saturday, 19 March 2022 06:07

Russia-Ukraine war: Putin lays out his demands in phone call with Turkish president

Turkey has positioned itself with great care to be the go-between with Russia and Ukraine - and this seems to be paying off. On Thursday afternoon, President Vladimir Putin rang the Turkish President, Recep Tayyip Erdogan, and told him what Russia's precise demands were for a peace deal with Ukraine. Within half an hour of the ending of the phone call, I interviewed Erdogan's leading adviser and spokesman, Ibrahim Kalin. Kalin was part of the small group of officials who had listened in on the call. The Russian demands fall into two categories. The first four demands are, according to…

Saturday, 19 March 2022 06:06

Putin appears at huge pro-war rally in Moscow

Russian President Vladimir Putin appeared at a massive rally in Moscow Friday, applauding his troops as they continued pounding Ukrainian cities with shelling and missiles. "We know what we need to do, how to do it and at what cost. And we will absolutely accomplish all of our plans," Putin, wearing a white turtleneck and a blue jacket, told the crowd gathered in and around Luzhniki Stadium. Approximately 200,000 people were in attendance, many waiving Russian flags, according to Russian police and state-run media. Putin praised his soldiers at the celebration to mark the eighth anniversary of Russia's seizure of…

Saturday, 19 March 2022 06:04

Xi urges US, NATO to talk with Russia, opposes indiscriminate sanctions

Chinese President Xi Jinping encouraged the US and NATO to have conversations with Russia to solve the problems behind the Ukraine crisis, and expressed opposition to indiscriminate sanctions, during his video meeting with US President Joe Biden on Friday. The Ukraine crisis is not something we want to see, and the events again show that countries should not come to the point of meeting on the battlefield. Conflict and confrontation are not in anyone's interest, and peace and security are what the international community should treasure the most, Xi said. After Biden said the US does not seek a new…

Friday, 18 March 2022 06:28

Nigeria’s debt approaches N40trn as FG, states borrowed N6.6trn in 2021 - DMO

Debt Management Office (DMO) says Nigeria’s total public debt stock climbed to N39.556 trillion in 2021 against N32.915 trillion in the previous year. Patience Oniha, director-general of DMO, said this on Thursday at a media briefing in Abuja. Oniha said the total debt includes new borrowings by the federal government and the sub-nationals. She added that the amount helped in financing the budget deficit, capital projects and support economic recovery. “Nigeria’s total public debt as at December 31, 2021, was N39.556 trillion or $95.779 billion. The amount represents the total external and domestic debts of the Federal Government of Nigeria…

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