THE landing cost of petrol has dropped from the N981/litre recorded on September 25, 2024, to N945.63/litre as of September 27. This is according to data released by the Major Energies Marketers Association of Nigeria on Monday. The drop in the landing cost of petrol happened following the appreciation of the naira against the United States dollar. In the MEMAN report, a dollar was said to have been exchanged for N1,586.26 on September 27 while it was N1,667.22 on September 25. Also, Brent, the global benchmark for crude, dropped from the $73.67/barrel recorded in the last report released by MEMAN…
Author: Hamza Rufai
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THE Economic and Financial Crimes Commission (EFCC) has arraigned a former governor of Taraba State, Darius Ishaku, and a former Permanent Secretary of the Bureau for Local Government and Chieftaincy Affairs in the state, Bello Yero, before Justice Sylvanus Oriji of the Federal Capital Territory High Court, Abuja for fraud. Both are being prosecuted on a 15-count charge, bordering on criminal breach of trust, conspiracy, and conversion of public funds to the tune of N27bn. One of the charges reads: “That you Darius Dickson Sshaku whilst being the governor of Taraba State and Bello Yero whilst being the permanent secretary,…
INSPECTOR General of Police, Kayode Egbetokun, has ordered water-tight security across the country to create a safe and conducive environment for citizens to celebrate the country’s 64th independence. In a statement by the Force Public Relations Officer, Muyiwa Adejobi, on Monday, the IGP ordered the deployment of adequate human and tactical resources to enable a maximum level of security for the independence celebration on Wednesday. “The Police, in synergy with other security agencies, will fortify various designated event venues and the major highways across the country, to forestall any threats to lives and property and the celebration. “Additionally, the IGP…
SEVENTEEN state governors have raised committees to implement the N70,000 new minimum wage for workers across the country. The 17 states which set up the implementation committees are Ogun, Ekiti, Sokoto, Kebbi, Osun, Enugu, Borno, Zamfara, Kogi, Kwara, Gombe, Kano, Taraba, Delta, Rivers, Jigawa and Abia. The development is happening as the Federal Government commenced payment of the new minimum wage to its 1.2 million workers last Thursday. The Accountant General of the Federation, Oluwatoyin Madein, in a memo to the Budget Office of the Federation, noted that the civil servants would be paid the minimum wage with effect from…
PRESIDENT Bola Ahmed Tinubu on Friday appointed seven executive directors for the Nigerian Television Authority (NTA). This is contained in a statement issued by the Special Adviser to the President on Information and Strategy, Bayo Onanuga. The appointees are: Ayo Adewuyi — Reappointed Executive Director, News; Barrister Ibrahim Aliyu — Executive Director, Special Duties; Malam Muhammed Fatuhu Mustapha — Executive Director, Administration and Training. Others include Mrs Apinke Effiong — Executive Director, Finance; Mrs Tari Taylaur– Executive Director, Programme; Mr Sadique Musa Omeiza – Executive Director, Engineering; and Mrs Oluwakemi Fashina – Executive Director, Marketing.
A FORMER Speaker of the House of Representatives, Yakubu Dogara, says contrary to popular belief among the members of the public, many politicians in Nigeria are not in government for money. Dogara, who was a guest on Channels Television’s Sunrise Daily programme on Friday monitored by News Point Nigeria, said many government officials are ready to work for free if people’s expectations on them are lowered to an extent. “If we can cut the demands on some of these our government officials by 90 per cent I assure you that there are so many people there who are willing to…
THE Chairman of BUA Foods Plc, Abdul Samad Rabiu, on Thursday, blamed the artificial scarcity and rising cost of foodstuffs in Nigeria on the activities of some greedy distributors and producers. This was while the business mogul applauded President Bola Tinubu for granting duty waivers on food imports into the country. Rabiu disclosed this at the 7th annual general meeting of the company in Abuja. He said, “BUA products are the cheapest in the market. And because we have other companies producing similar products, it is very difficult to price them low. For instance, a few months ago, the price…
THE Central Bank of Nigeria (CBN) has announced the sale of $20,000 to each of the eligible Bureau De Change (BDC) operators in the country at the rate of N1,590/$. In a circular to all Bureau De Change operators dated September 25, 2024, the apex bank said the forex would provide “additional liquidity to this segment of the foreign exchange market”. The circular was signed by CBN’s Acting Director of Trade and Exchange Department, W.J. Kanya. Kanya said, “To this end, the CBN has approved the sale of $20,000 to each eligible BDC at the rate of N1,590/$. This is…
FORMER Minister of Finance and National Planning, Shamsuddeen Usman, says it takes deft navigation of many political manoeuvres to become a minister in Nigeria. Usman, who was a guest on Channels Television’s Politics Today programme on Wednesday monitored by News Point Nigeria, said there is a lot of “scheming” that makes ministers unable to excellently execute many reforms they loudly propound before their appointments. He said, “There are a lot of things that you try to do but the political system is set in such a way that is very difficult to get things done properly. “Public servants are put…
THE leader of the Senate, Senator Opeyemi Bamidele has disclosed that investigation of alleged economic sabotage in the petroleum sector by Ad – hoc committees separately set up by both the Senate and the House of Representatives in July, will now be jointly handled by both chambers. Senator Bamidele who doubles as the Chairman of the investigative Adhoc committee stated this in a statement personally signed by him on Monday. He says: ‘As we return fully to the parliamentary sessions on Tuesday this week, the National Assembly will without ambiguity, revisit its decision to decisively address challenges in the petroleum…
THE President and Chief Executive of Dangote Group, Alhaji Aliko Dangote, has called on the Federal Government to end fuel subsidies completely. He said the removal would help determine the actual petrol consumption in the country, as he confirmed ownership of two oil blocks in the upstream sector with an expected production date of next month. Dangote also stated that fuel production from his $20bn mega refinery in Lagos will help ease pressures on the naira. The refinery can refine 650,000 barrels of crude oil daily. Speaking in a 26-minute interview with Bloomberg Television in New York on Monday, monitored…
PROFESSOR Adamu Abubakar Gwarzo, Founder and President of the MAAUN Group of Universities, has warmly congratulated Nigeria’s First Lady, Mrs. Oluremi Tinubu, on the occasion of her 64th birthday. In a heartfelt statement released on Sunday, Prof. Gwarzo praised Mrs. Tinubu for her unwavering dedication to fostering peace and promoting harmonious coexistence among Nigeria’s diverse communities. “As a beacon of humility and simplicity, Mrs. Oluremi Tinubu truly deserves to be celebrated on this auspicious occasion, marking a significant milestone in her life,” Prof. Gwarzo expressed. He emphasized that her exemplary leadership qualities make her a role model for women leaders…
THE National Examination Council (NECO) announced on Thursday that it will be inviting and interrogating the management of 40 secondary schools across 17 states for alleged mass cheating in this year’s Senior School Certificate Examination (SSCE). NECO Registrar Prof. Dantani Wushishi disclosed this at a press conference in Minna, Niger State capital, where he announced the release of the 2024 SSCE results. Wushishi announced that 8,437 candidates were found to be involved in various forms of malpractice, compared to 12,030 in 2023, showing a reduction of 30.1 per cent. He said all the schools involved in cheating would be invited…
THE Inspector-General of Police (IGP), Kayode Egbetokun, has redeployed Police Commissioner Tunji Disu from the Rivers State Police Command to the Federal Capital Territory (FCT) Command. The IGP moved the Commissioner of Police in Delta State, Abaniwonda Olufemi, to the Rivers State Police Command while the FCT CP, Peter Opara, was moved to the Delta State Police Command. In a statement on Thursday, Force spokesman Muyiwa Adejobi said the redeployment was “to strategically emplace a Police Force well efficient for effective policing”. Also, following the approval of the Police Service Commission, the IGP deployed four CPs as Commissioners of Police…
THE internal crisis within the opposition Peoples Democratic Party has taken a new dimension as some governors and members of the National Working Committee and their deputies move to oust the acting National Chairman, Umar Damagum. A high-ranking member of the PDP NWC, who wished to remain anonymous due to lack of authorisation to speak on the issue, exclusively revealed to this newspaper that some governors led by Bauchi governor, Bala Muhammad and certain members of the integrity group within the NWC were making efforts to remove Damagum and realign the party, as demonstrated in Bauchi State. The source stated,…
THE Attorney General of the Federation (AGF), Lateef Fagbemi, has cautioned politicians “demarketing” Nigeria on social media, saying such persons don’t deserve to lead the country. The AGF spoke on Wednesday at the Abuja Social Media Summit with the theme, ‘Harnessing the Power of Social Media for National Development’. “All hands must be on deck in efforts to transform Nigeria into a greater nation devoid of bickering. The government of President Bola Ahmed Tinubu is committed to leading the country out of the woods,” Fagbemi said. “Just as they say that social media neither sleeps nor slumbers, we must watch…
THE Kano-Jigawa command of Nigeria Customs Service (NCS) says it has launched an investigation into an alleged extortion involving businessmen at Abubakar Rimi market popularly known as Sabon Gari. The investigation followed a complaint by the businessmen alleging extortion by some officials of the command. According to the Public Relations Officer of Sabon Gari Shop owners and online marketers Association, Nazifi Auwalu, business has been made difficult for their people as the level of extortion has instilled fear among them. “We are facing a difficult situation because we are now in a dilemma of transporting goods from elsewhere into Kano…
SENIOR Advocate Of Nigeria and Human Rights Activist, Femi Falana has said it is ‘illegal” for the state oil company, NNPCL to determine prices of Premium Motor Spirit also known as petrol after deregulation. A statement released by Falana on Tuesday said the action of the National Nigerian Petroleum Company Limited violates section 205 of the Petroleum Industry Act (PIA). He said, “On September 5, 2024, the Nigerian National Petroleum Corporation Limited (NNPCL) stated that foreign exchange (forex) illiquidity had been a significant factor influencing the fluctuation in prices of Premium Motor Spirit (PMS) governed by unrestrained market forces, as…
ABOUT 65 million phone lines are at risk of disconnection after telecom operators refused to grant subscribers an extension to the National Identification Number -Subscriber Identity Module linkage deadline. The final deadline expired on September 14, 2024, and the Nigeria Communications Commission, the telecom regulator, expected that no SIM card would remain active without a verified NIN from September 15. Analysis by this newspaper suggests that approximately 65 million lines remain at risk, as an estimated one million lines could not have been linked between the NCC’s deadline announcement and the actual cut-off date. The telecom regulator’s data from March…
THE Dangote Refinery located in Lagos has denied selling petrol to the Nigerian National Petroleum Company Limited (NNPCL) at N898 per litre. A spokesman for the refinery Anthony Chiejina in a statement late Sunday described the claim by the NNPCL as “misleading and mischievous”. He said, “Our attention has been drawn to a statement attributed to NNPCL spokesperson, Mr. Olufemi Soneye, that we sell our PMS at N898 per litre to the NNPCL. “This statement is both misleading and mischievous, deliberately aimed at undermining the milestone achievement recorded today, September 15, 2024, towards addressing energy insufficiency and insecurity, which has…