PRESIDENT Bola Ahmed Tinubu has told international investors that the people of Nigeria, who are highly educated, highly skilled, and naturally industrious are the primary asset and advantage the country wields over other nations in the global race for new investments beyond the country’s natural resources. The president spoke in Berlin, Germany on Monday at a panel discussion titled, “Fostering local value chains and investments in Africa – The role of the German private sector” at the G20 Compact with Africa Economic Conference, hosted by German Chancellor Olaf Scholz. President Tinubu said that while promoting the rule of law was…
Author: Amina Ibrahim
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THE Economic Financial Crimes Commission has disclosed it would charge personnel of the Nigerian Air Force released on administrative bail by its Kaduna Zonal Command to court upon completion of its ongoing investigation. The anti-graft agency made this known on Monday in a release signed by its Head of Media and Publicity, Dele Oyewale, and posted on its website. Earlier, the NAF personnel were granted administrative bail last Friday. “The officers were released to their service in strict adherence to the bail procedures of the commission. The commission reiterates the fact that no one is above the law and the…
FORMER President Muhammadu Buhari has said he does not miss being President much. “Miss? I don’t think I miss much,” Buhari said, responding to a question on what he misses from his time in office in an exclusive interview with the Nigerian Television Authority. This was according to a promo for the interview the NTA shared on its X (formerly Twitter) handle on Sunday. Months before handing over power, Buhari said he would not miss his time as President of Nigeria because his best was not good enough for Nigerians. “I believe I’m trying my best, but still my best…
PRESIDENT Bola Tinubu, on Monday night, in Mecca, Saudi Arabia, advanced negotiations concerning a multi-billion dollar infrastructure finance facility from the Islamic Development Bank to fund a multi-sectoral portfolio of infrastructure projects at the federal and sub-national levels in Nigeria. This development was the outcome of substantive investment discussions held between President Tinubu and the Vice-President (Country Programs) of the Islamic Development Bank, Dr. Mansur Muhtar, after the President’s return from evening prayers. “Nigeria is the candle of hope that will light the way for Africa. And once Africa is illuminated, the world will be a brighter place for all…
THE Nigeria Labour Congress, NLC, and the Trade Union Congress of Nigeria, TUC, counterparts, have resolved to commence the planned nationwide strike from midnight today (Monday). The National Industrial Court (NIC) had restrained them from embarking on strike in the wake of the impasse with the Imo State Government. But in a Monday statement, the unions ordered workers nationwide to withdraw their services at midnight. “In furtherance to the decision of the Joint National Executive Council (NEC) of NLC and TUC, all workers in Nigeria are hereby directed to withdraw their services effective 12:00 midnight today, 13th November 2023,” the…
A BOEING 737 passenger jet belonging to Aerocontractors Airlines crash-lands at the Nnamdi Azikiwe International Airport, Abuja on Sunday morning. Although no injury or fatality was recorded, the Nigerian Safety Investigation Bureau, an agency of the Federal Government, confirmed that the aircraft got involved in a “serious accident” around 10.47 am upon arriving at the NAIA from Lagos. The Director, Public Affairs and Consumer Protection, NSIB, James Odaudu, confirmed this in a statement issued in Abuja on Sunday, adding that investigations into the accident. “The Nigerian Safety Investigation Bureau has been notified and has commenced an investigation into a serious…
VETERAN actor, Usman Baba Pategi, popularly known as Samanja Mazan Fama, has passed away at the age of 84. The Kaduna-based popular Hausa film actor died around 12:15 am on Sunday. Confirming his death to this newspaper, Muhammad Usman, one of his sons, revealed that his father left behind two wives. “He died at the age of 84 and left behind two wives and 12 children,” he stated. According to Muhammad, the funeral prayer will be held at 10 am at a mosque in Kabala Costain, Kaduna.
SERVICE providers MTN Nigeria have reacted after a ‘system glitch’ in the early hours of Saturday caused a cancellation in the debt of subscribers owed to the company. The company clarified amid jubilation from subscribers who thought the telecom operator intentionally cancelled their debt. In a post on X, MTN stated that a glitch was responsible for the cancellation adding that balances will reflect accurate figures once problem is solved. “MTN Nigeria Communications Plc can confirm a system glitch impacting balance enquiries. As a result, some customers may receive error messages showing that their balances have been cleared. “This is…
A FEDERAL Capital Territory, FCT, High Court has restrained a South African company, Novare and its subsidiaries, from selling off their assets in Nigeria. Novare is the owners of retail malls, including Shoprite malls, in the country. Justice Peter Kekemeke gave the interim order following an ex-parte motion moved to the effect by counsel to the applicants, Darlington Ozurumba. This newspaper reports that Grand Towers Reality Ltd, Grand Towers Plc and Nze Chidi Duru, who were applicants in the suit marked: FCT/HC/0224/2017 with motion on number: M/13811/2023, are the Nigerian partners to Novare Investment, PTY, Ltd, owners of Shoprite. They…
PRESIDENT Bola Tinubu recently stopped the implementation of a hike in electricity tariff and insisted that subsidy be paid on power consumed nationwide, the Minister of Power, Adebayo Adelabu, revealed on Wednesday. Adelabu also stated that the Federal Government would investigate the legality of the five-year licence extension given to privatised power distribution and generation companies, stressing that the operating licences of the firms would have expired on October 31, 2023. The minister, who spoke at a press briefing in Abuja, further stated that he would sack any non-performing chief executive in agencies under the power ministry, if their non-performance…
PRESIDENT Bola Tinubu on Wednesday signed the 2023 Supplementary Budget N2.17trn at the Presidential Villa in Abuja. Last Thursday, the Senate and the House of Representatives passed the N2.17trn 2023 supplementary appropriation bill after a third reading. Before the passage of the bill, the Senate adopted the report of the harmonised sittings of both red and green chambers on the 2023 Supplementary Appropriation Bill as submitted by the Chairman of the Appropriations Committee, Senator Solomon Olamilekan Adeola (APC, Ogun West). The bill expeditiously scaled readings in both upper and lower chambers as lawmakers said it was for the benefit of…
TWO persons were feared dead as fire razed part of the Embassy of Canada, Monday in Abuja. A source told News Point Nigeria that the fire broke out while the embassy’s power generating plant was being repaired engulfing and killing two persons that are part of the technical crew while one person escaped through the roof of the power house. The source told our correspondent that others were blown out of the powerhouse due to the force of the sudden fire explosion. Staff, who ran out of the embassy for refuge outside the gates told this newspaper that the fire broke…
THE Central Bank of Nigeria (CBN) has said that it has enough volume of banknotes to go around against backdrop of the approaching festive period, dismissing the allegations of cash scarcity in the banking sector. The apex bank, which was reacting to reports of alleged scarcity of cash at the banks, automated teller machines (ATMs), Points of Sale (PoS) and Bureaux de Change (BDC) in some major cities across the country, said the seeming cash scarcity in some locations was largely due to high volume withdrawals from the CBN branches by Deposit Money Banks (DMBs) and panic withdrawals by customers…
PRESIDENT Bola Ahmed Tinubu did not ask for a presidential yacht, Tope Ajayi, his spokesman, has said. There has been outrage since details of the N2.1 trillion supplementary budget Tinubu submitted to the National Assembly were published. According to the budget, N5.09 billion was allocated for the yacht, N2.9 billion for sport utility vehicles for the Presidential Villa, and another N2.9 billion for the replacement of operational vehicles for the presidency. The yacht was listed under the Nigerian Navy’s proposed capital expenditure of N42.3 billion. Reacting to the criticisms that have trailed the issue, Ajayi said he doubted if his…
THE House of Representatives is to investigate the money expended on the postponed 2023 population and housing census by the National Population Commission (NPC). The house made this resolution on Wednesday following a motion from Honourable Dominic Okafor drawing attention of the lawmakers to the 200 billion naira spent so far on the census. The lawmakers, however, disagreed on conducting the census this year due to insecurity. President Muhammadu Buhari has approved the postponement of the 2023 Population and Housing Census earlier scheduled for May 3 to 7 to a date to be determined by the incoming administration. The population…
THE House of Representatives has summoned the Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu, to brief the green chamber on the status of the conditional cash transfer programme of the Federal Government to 15 million households. The House, in a motion of urgent public importance on Tuesday, expressed worry about the handling of the programme. The House questioned the lack of transparency in the programme which has led to fraudulent practices. The minister is to give details on the collation of data and distribution of the funds. Mid-October, President Bola Tinubu launched the Renewed Hope Conditional Cash Transfer…
THE Federal Executive Council (FEC) has approved the sum of N2,176,791,286,033 for the second 2023 supplementary appropriation. Atiku Bagudu, the Minister of Budget and Economic Planning, announced this on Monday while briefing State House reporters after the federal cabinet meeting presided over by President Bola Ahmed Tinubu at the Council Chambers of the Presidential Villa, Abuja. He said the draft supplementary budget to be sent to National Assembly for approval would be used to finance urgent issues including N605 billion for national defense and security. According to him, “This is to sustain the gains made in security and these are…
THE Minister of State for Petroleum, Senator Heineken Lokpobiri and the Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari, have arrived at the Kaduna refinery to inspect work progress on the ongoing quick-fix project at the refinery. The Minister and the Kyari are also in Kaduna for the 14th Refineries Rehabilitation Steering Committee meeting. The refinery project is linked with President Bola Tinubu’s directive to the ministry of Petroleum and NNPCL to fix the nation’s moribund refineries in order to start refining of crude oil locally. The 110,000bpd capacity Kaduna refinery is one of…
NAIRA, on Thursday, appreciated against the US Dollar on the unofficial parallel market, commonly referred to as the black market. In afternoon trading, the exchange rate was N1,300 per dollar, representing a 0.76% increase (N10) compared to the N1,310 rate recorded on Tuesday on the black market. The persistent foreign exchange pressure, exacerbated by the Naira reaching as low as N1,310 per dollar, showed signs of improvement on Thursday as demand slightly eased. The most recent instance of Naira appreciation occurred on October 3, 2023, when it increased by 0.79% (N8) against the US Dollar. On Tuesday, the Naira experienced…
THE Ministry of Foreign Affairs (MFA), along with stakeholders, has set a four-year foreign policy strategy to reposition Nigeria in the international community. Alkasim Abdulkadir Special Assistant on Media and Communications Strategy to the Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar, disclosed this in a statement on Wednesday. He noted that the minister was working assiduously to achieve the renewed hope agenda of President Bola Ahmed Tinubu’s administration through the foreign policy strategy. The Ministry’s strategic vision and operations are driven by the 4-D foreign policy strategy which is hinged on Democracy, Development, Demography and Diaspora as pillars for…