THE minimum pump price of petrol has not responded to the latest Dangote Petroleum Refinery ex-pot price slash of Premium Motor Spirit, PMS, also known as petrol to N899.50 per litre, from N970 per litre. Most petrol stations in Kano, Abuja, Port Harcourt and Lagos have retained the old price range of N1,025 minimum in Nigeria National Petroleum Company Limited, while some major oil marketers still sell at N1,070 and independent marketers sell as high as N1,100. According to the refinery, the slash in price was expected to provide much-needed relief for Nigerians ahead of the holiday season. Meanwhile, commenting…
Author: Farouk Abbas
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THE Federal High Court sitting in Lagos on Thursday ordered the final forfeiture of a warehouse built on a landed property measuring 1.925 hectares of land along the Lagos/Ibadan expressway in Magboro, Obafemi Owode Local Government Area of Ogun State. The court also ordered the permanent forfeiture of 54 general purpose steel containers. Justice Deinde Dipeolu made the order for the final forfeiture to the federal government of Nigeria, after the Economic and Financial Crimes Commission (EFCC) moved an application for the forfeiture of the assets since no person or organisation came forward to claim them. On November 28, the…
THE National Security Adviser (NSA), Mallam Nuhu on Thursday said that the administration of President Bola Ahmed Tinubu has achieved over 80 percent success in anti-kidnaping operations. He said the success was as a result of sacrifices of the security agencies and effective coordination by the Office of the National Security Adviser. Ribadu said this at the operationalization of the Multi-Agency Kidnap Fusion Cell (MAAKFC) at the National Counter Terrorism Centre (NCTC). The NSA said kidnapping remains one of the most pressing security threats in the country, which had caused untold hardship for countless families, disrupted economic activities, and posed…
THE Federal Capital Territory High Court, on Thursday, granted the immediate past Governor of Kogi State, Yahaya Bello, bail in the sum of N500 million with three sureties in like sum. Justice Maryann Anenih had, on December 10, refused the ex-governor’s bail application, saying it was filed prematurely. While delivering the initial ruling, she said, having been filed when the 1st defendant was neither in custody nor before the court, the instant application was incompetent. There was, however room for the governor’s lawyers to file a fresh application for bail and apply for hearing date. The former governor is facing…
THE National Bureau of Statistics has announced that its official website has been compromised by unidentified hackers. This development was disclosed in a statement posted on the bureau’s official X (formerly Twitter) account on Wednesday. The NBS urged the public to disregard any information or reports shared on its behalf from unofficial sources until the website is fully restored. The bureau assured the public that its technical team is actively working to resolve the issue. The statement read, “This is to inform the public that the NBS website has been hacked and we are working to recover it. Please disregard…
THE Dangote Petroleum Refinery has stated that the Nigerian National Petroleum Company Limited provided inaccurate and misleading information regarding the details of its $1bn investment in the refinery’s operations, stressing that the facts were misrepresented in a manner that misguides stakeholders and the public about the nature and extent of the investment. The company clarified that the $1bn crude-backed loan is only five per cent of the total investment that went into building the 650,000 barrels per day refinery. On Monday, the NNPCL Chief Corporate Communications Officer, Mr Olufemi Soneye, at a stakeholders engagement meeting, revealed that the national oil…
THE Minister of Aviation and Aerospace Development, Festus Keyamo, says the Fly Nigeria Act will transform into law under his watch. The minister lamented that the document, which is expected to make it mandatory for government-financed air transportation of government personnel, contractors, grantees, and properties to be carried by Nigeria Air Flag Carriers, has yet to materialise more than 15 years after it was first proposed. Speaking at a one-day “Stakeholders’ Engagement on the Legal Framework for the Fly Nigeria Bill and Related Enabling Legislation’, in Abuja, Keyamo said he would rally all the major stakeholders to push for the…
THE House of Representatives has resolved to invite the Chief of Defense Staff, the Chief of Army staff and the commanding officer of the 177 battalion over an alleged unlawful arrest and detention of a community leader in Nasarawa state. Honourable Mansur Soro who moved the motion during Tuesday’s plenary, explained that on December 9th 2024, the community leader Bello Badejo was arrested in Maliya town, Nassarawa State by officers of the 177 battalion of the Nigerian Army with no prior invitation or court injunction. He further stated that one week after, Badejo is yet to be arraigned, which signifies…
THE Nigerian National Petroleum Company Limited has said it secured a $1bn loan backed by crude oil to support the coming on stream of the 650,000 barrels per day capacity Dangote Petroleum Refinery. Recall Aliko Dangote, had said the Dangote Petroleum Refinery was built without any incentive from the federal government. Dangote spoke at the 2024 Crude Oil Refinery-owners Association of Nigeria (CORAN) summit, held in Lagos in October. “We built the Dangote refinery without a single incentive from the government,” he said. “To ensure sufficient feedstock availability, we will need to stop mortgaging crude. It is unfortunate that while…
THE Supreme Court has dismissed the lawsuit seeking the removal of President Bola Tinubu from office. The suit filed by the presidential candidate of the Hope Democratic Party in the 2019 general election, Ambrose Aworu, sought Tinubu’s removal based on Central Intelligence Agency and drug allegations. The apex court in an unanimous decision by a five-member panel of justices led by Justice Uwani Abba-Aji, on Monday held that the suit was frivolous and that Owuru be fined the sum of N5 million. It further warned the Registry of the Supreme Court not to accept any frivolous originating summons from the…
THE Economic and Financial Crimes Commission (EFCC) has announced a landmark arrest of a total number of 792 suspects for offences bordering on cryptocurrency investment fraud and romance scam. EFCC’s Director of Public Affairs, Wilson Uwujaren, who briefed journalists at the commission’s office in Lagos on Monday said the suspects were apprehended on Tuesday, December 10, 2024, in a surprise operation at their hideout, an imposing seven-storey edifice known as Big Leaf Building, on No.7, Oyin Jolayemi Street, Victoria Island, Lagos. Uwujaren said, “The breakthrough followed actionable intelligence and months of surveillance and monitoring the activities of the syndicate.Among the…
NIGERIA’s headline inflation rate rose to 34.60% in November 2024 from 33.88% in October 2024, the National Bureau of Statistics (NBS) said Monday. The November inflation rate showed an increase of 0.72% points compared to the October 2024 inflation rate, according to NBS’s latest Consumer Price Index (CPI) report which measures the rate of change in prices of goods and services. “On a year-on-year basis, the Headline inflation rate was 6.40% points higher than the rate recorded in November 2023 (28.20%). This shows that the Headline inflation rate (year-on-year basis) increased in November 2024 compared to the same month in…
A FORMER Kano State governor Ibrahim Shekarau says Nigeria should be bothered about the credibility of its president instead of where he comes from. For some months now, there have been debates about power returning to the northern part of the country in 2027. Those against the calls, however, argue that the southern region where President Bola Tinubu hails from is yet to exhaust eight years in office, urging the northern region to wait for the presidential election. However, Shekarau says the debates over the president’s region have no bearing on governance. “All the parties should come up with their…
THE media office of former Kogi State Governor, Yahaya Bello, has refuted the allegations that the former governor stated in court that he will reveal how Tinubu became president if he is jailed. The statement was in response to a story by an online newspaper (Not News Point Nigeria) which quoted the former governor to have said that he would reveal to the world how President Tinubu became President. However, in a statement made available to this newspaper Sunday night, Bello’s media office refuted the story, stating, “The report, which is part of the desperate plot by irresponsible politicians to…
THE National Drug Law Enforcement Agency (NDLEA) says its operatives have recovered multi-billion-naira worth of methamphetamine and “Loud” shipments concealed in automobile spare parts imported from Canada at the Tincan seaport in Lagos NDLEA spokesman, Femi Babafemi, disclosed this in a statement on Sunday, saying the drugs were intended for distribution during the Christmas and New Year festive season He revealed that the shipments were seized following months of intelligence-driven tracking of the cargo across three continents. “Multi-billion-naira worth of shipments of methamphetamine and Loud, a strong synthetic strain of cannabis intended for distribution during the Christmas and New Year…
DESPITE economic hardship and suffering, some state governors have yet to reduce the cost of governance, particularly in the number of vehicles in their convoys, findings show. The governors, who are the major beneficiaries of the fuel subsidy removal which resulted in more revenues from federal allocations, have yet to adjust their extravagant lifestyles. Cutting the cost of governance by political officeholders has been emphasised as a way to mitigate economic hardship. On October 24, President Bola Tinubu restricted ministers and heads of agencies of the Federal Government to a maximum of three vehicles in their official convoys. The president…
THE Independent National Electoral Commission (INEC) has asked the public to disregard reports on the death of its Chairman, Mahmoud Yakubu. A statement by the Chief Press Secretary to the INEC Chairman, Rotimi Oyekanmi on Saturday said Yakubu is alive. The clarification was necessitated following reports that the INEC Chair had died in London. “Our attention has been drawn to a fake news narrative circulated by a section of the social media claiming the purported death of the INEC Chairman, Prof. Mahmoud Yakubu at a London hospital. The story first appeared on Monday, 9th December 2024. “We hereby appeal to…
THE Peoples Democratic Party has asked former President Goodluck Jonathan to contest the 2027 presidential election on its platform. In an exclusive interview with this newspaper, the PDP’s Deputy National Publicity Secretary, Ibrahim Abdullahi, emphasised that it would be a regrettable development if Jonathan chose another party for his presidential bid. He revealed that the PDP had been eagerly awaiting the former president’s return for a second term, stressing the party’s continued connection to Jonathan’s political rise. Abdullahi highlighted the party’s historical role in shaping Nigeria’s leadership, citing several notable figures who had emerged from the party. “We’ve said this…
PRESIDENT Bola Ahmed Tinubu, Speaker of the House of Representatives, Rt Hon Tajuddeen Abbas, governors, senators, national chairman of the All Progressives Congress (APC), Dr Abdullahi Umar Ganduje and nephew of the former president Muhammadu Buhari, Mamman Daura, were among the dignitaries who attended the wedding fatiha of the children of the Deputy President of the Senate, Senator Barau I Jibrin. The wedding fatiha of Senator Barau’s son, Jibrin Barau I Jibrin (Abba) and Maryam Nasir Ado Bayero, the daughter of former Emir of Bichi; and Aisha Barau I. Jibrin and Engineer Abubakar, the son of Dr Abdulmunaf Yunusa Sarina,…
THE joint sitting of the House of Representatives Committee on Finance and the Committee on National Planning has expressed dismay over their discovery of N88 billion as personnel expenditure in 2023 by the Nigeria Upstream Petroleum Regulatory Commission (NUPRC). The committee therefore directed the NUPRC to provide all details of oil production, crude sales and other activities in the Upstream Petroleum Industry in the country. The directive followed a presentation by the NUPRC Executive Commissioner Economic Regulation & Strategic Planning (ECR&SP), Babajide Oluwole Fasina and some members of its management at the ongoing interactive session with key agencies on the…