THE federal government on Monday announced a revenue performance of N6.9 trillion in the first quarter (Q1) of 2025, representing a 33 percent increase from N5.2 trillion generated in the same period of 2024. However, the revenue fell short of the projected target of N10 trillion on a pro-rata basis, representing a 31 percent shortfall. By implication, the federal government might have sought means of closing the revenue gap, possibly through debt financing (borrowing). As of December 31, 2024, Nigeria’s total public debt stood at N144.67 trillion, according to the Debt Management Office (DMO). President Bola Tinubu, in late May,…
Author: Sadiq Abdullateef
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OPERATIVES of the Economic and Financial Crimes Commission (EFCC) have arrested a former Chief Financial Officer (CFO) of the Nigerian National Petroleum Company Limited (NNPCL), Umar Isa, over an alleged $7.2 billion fraud linked with the rehabilitation of the Kaduna, Warri and Port Harcourt refineries. News Point Nigeria gathered that also in the custody of the EFCC is Jimoh Olasunkanmi, a former Managing Director of Warri Refinery. Isa, as CFO, was in charge of the release of funds for the turnaround maintenance of the three refineries. Isa and all the key officials involved in the maintenance of the refineries and…
IRAN launched missiles at US military bases in Qatar and Iraq on Monday evening, official media reported, in what state TV called a “powerful” response to recent American strikes on key nuclear sites. “The operation of Iranian missiles against American bases located in Qatar and in Iraq has begun, and is called ‘Blessing of Victory’,” the official press agency IRNA said. AFP journalists reported hearing explosions in Doha, the capital of Qatar, home to the largest US base in the region. Iran’s National Security Council later confirmed it had attacked a major US military base in Qatar on Monday in…
THE United States Mission in Nigeria has issued a security alert advising American citizens to avoid non-essential travel to military and government facilities in Abuja due to increased global security concerns. The alert, released by the US Embassy on Monday, stated that all embassy personnel and their families are currently prohibited from visiting military sites or other government venues in the Nigerian capital unless for official purposes. This advisory came in the wake of unspecified global developments that have prompted heightened security measures and a reevaluation of movement around sensitive locations. American citizens residing in or visiting Nigeria are urged…
GLOBAL crude oil prices may cross $80 per barrel this week, following the major escalation in tensions between the United States and Iran, with the oil market reacting sharply to reports of coordinated US-Israeli airstrikes on key Iranian nuclear facilities. This came as marketers of petroleum products said petrol prices rise to N1,000 per litre due to rising crude oil prices and the volatility in the foreign exchange market. This development follows a “preemptive defensive strike,” overnight attacks launched by the United States on three of Iran’s major nuclear sites. The strike, as announced by President Donald Trump, “obliterated” Tehran’s…
THE President of Sierra Leone, Julius Maada Bio, has emerged as the new Chairman of ECOWAS Authority of Heads of State and Government as Nigeria’s President Bola Tinubu’s two-term leadership of the bloc comes to an end. President Tinubu handed over the mantle of leadership to President Bio at the 67th Ordinary Session of the Authority held in Nigeria’s capital, Abuja. News Point Nigeria reports that this was contrary to earlier speculations that President Bassirou Diomaye Faye of Senegal was elected during a private meeting held prior to the commencement of the session. President Bio, in his inaugural speech, promised…
Nigeria’s leadership of the Economic Community of West African States (ECOWAS) may have come to an end. President Bola Tinubu assumed leadership of ECOWAS and will be serving out his second term as the Chairman of ECOWAS Head of States and Government at this weekend’s Summit at the Banquet Hall of the Presidential Villa, Abuja. First elected on July 9, 2023 in Guinea Bissau and got re-elected on July 7 2024 in Abuja. Giving a hint on the expected change of guard on Friday night, Minister of Foreign Affairs, Amb.Yusuf Tuggar told his colleagues at the close of the 94th…
IN a surprising development, Femi Soneye, the spokesperson for the Nigerian National Petroleum Corporation Limited (NNPCL), has stepped aside, over alleged irreconcilable differences with the new management team, News Point Nigeria gathered. Sources close to the situation told News Point Nigeria that Soneye’s relationship with the new leadership had been fraught with tension for several weeks. The conflict reportedly escalated after the management accused him of leaking sensitive information regarding the Rwanda Retreat story to Sahara Reporters. The Rwanda Retreat, a high-profile event that stirred considerable public and political interest, remains a contentious topic within the NNPC. The management’s suspicion…
NIGERIA’s Chief of Defence Staff (CDS), General Christopher Musa, has said that troops were in Yelwata town in Benue State on Friday, June 13, 2025 but were misled into leaving the agrarian community by a false terror alert from a neighbouring town. “On the issue of intelligence, yes intelligence is coming,” The defence chief said at a press briefing in Nigeria’s capital city Abuja on Thursday. “Because of the insider information, that actual day that it happened, the troops were there. There was a fake attack in another village. When the troops moved in, that was when they now came…
THE Federal Commissioner of the National Commission for Refugees, Migrants, and Internally Displaced Persons (NCFRMI), Hon. Aliyu Ahmed, has met with union leaders of the commission following a two-day protest by staff over welfare-related grievances. The meeting, which took place at the commission’s headquarters in Abuja, was convened after workers and union leaders staged a peaceful protest demanding improved staff welfare. Hon. Ahmed, who personally received the union executives and representatives from various departments, expressed appreciation for the peaceful manner in which the staff conducted themselves. He acknowledged the importance of open dialogue in resolving internal challenges and assured the…
PRESIDENT Bola Tinubu has conferred the national honour of Commander of the Order of the Federal Republic (CFR) on Colonel Abubakar Dangiwa Umar (Rtd), a prominent advocate of democracy and one of the vocal supporters of the June 12 election struggle. The President made the announcement on Thursday during the commissioning of a 100 CNG Buses in Kaduna. Colonel Dangiwa Umar, widely regarded as a “Soldier of Democracy” for his principled stand during Nigeria’s pro-democracy movement in the 1990s, was notably absent from the list of national honours awarded on June 12—Nigeria’s Democracy Day. His exclusion drew concern from many…
NAMADI Sambo, former Nigeria’ s Vice President, has decamped from the Peoples Democratic Party to the ruling All Progressives Congress (APC). The decamp of the former Vice President was made know in a X (formerly known as Twitter), Wednesday,.by an APC ‘ stalwart in Kaduna State, Imran Muhammad. News Point Nigeria gathered that Sambo’s exit from PDP may not be unconnected with the ongoing crisis within the party. Sambo, who served as Vice President under President Goodluck Jonathan from 2010 to 2015, was formally received into the APC on Wednesday by Kaduna State Governor, Senator Uba Sani at the Sir…
THE National Pension Commission (PenCom) is working with the Office of the Head of the Civil Service of the Federation (OHCSF) to introduce a ₦30 billion annual gratuity scheme for retiring civil servants under the Contributory Pension Scheme (CPS). Omolola Oloworaran, Director General of PenCom, stated this during a courtesy visit to Didi Esther Walson-Jack, Head of the Civil Service of the Federation (HCSF) in Abuja to discuss ongoing pension reforms and initiatives aimed at improving the welfare of federal civil servants. Oloworaran disclosed that PenCom is finalizing modalities for the establishment of a Gratuity Framework for employees of treasury-funded…
THE Federal Government has announced that it is finalising emergency evacuation plans for Nigerian citizens stranded in Israel and Iran following the recent escalation of hostilities between the two nations. According to a statement released by the spokesperson for the Ministry of Foreign Affairs, Kimiebi Ebienfa, on Tuesday night, Nigerian embassies in Tel Aviv and Tehran are actively reaching out to affected citizens and coordinating efforts to ensure their safe return. Nigerians in the affected regions have been urged to adhere strictly to local security protocols and to contact the nearest Nigerian Embassy or Mission for registration and further instructions.…
AMID growing speculation of a rift between President Bola Tinubu and Vice President Kashim Shettima, a chieftain of the All Progressives Congress (APC), Ismaeel Ahmed, has firmly dismissed rumours of any plan to replace the Vice President for the 2027 presidential race. Speaking on Channels Television’s prime time programme Politics Today monitored by News Point Nigeria, the former member of the APC Board of Trustees described the claims as “malicious rumours” and insisted there was no substance to the reports suggesting discontent between the two top leaders. “It’s (friction) not true. I know it very well. Who is ever in…
OIL marketers have increased the prices of Premium Motor Spirit, also known as petrol, at filling stations amid ongoing competition with Dangote Petroleum Refinery. Data gathered by this newspaper from Petroleumprice.ng on Tuesday revealed that seven oil depots increased prices by a range of 1.45% to 2.90% between June 11 and June 13. The changes at major Lagos depots between June 11 and June 13, 2025, illustrate the upward trend in petrol prices: Aiteo: NGN 825 → NGN 840 (1.82% increase) Nipco: NGN 827 → NGN 845 (2.18% increase) Menj: NGN 826 → NGN 850 (2.90% increase) First Royal: NGN…
THE National Bureau of Statistics (NBS) on Monday said inflation declined to 22.97 per cent in May 2025 from the 23.71 per cent recorded in April 2025. Statistician General of the Federation, Prince Adeyemi Adeniran, made this known in a press statement issued at Abuja. He said, “The headline inflation rate for May 2025 decreased to 22.97 per cent compared to the April 2025 rate of 23.71 per cent. This represents a decline of 0.74% from April 2025.” He said on a month-on-month basis, the headline inflation rate in May 2025 was 1.53 per cent, which was 0.33 per cent…
THE Federal Government has indicated that concerns over ground rent obligations involving several foreign embassies in the Federal Capital Territory will be addressed through established diplomatic processes. Speaking to our correspondent on Sunday, the spokesperson for the Ministry of Foreign Affairs, Kimiebi Ebienfa, said the matter would be taken up with the Federal Capital Territory Administration and handled accordingly. “The ministry has taken up the matter with FCTA and it will be addressed via diplomatic channels,” Ebienfa said. The assurance followed reports that the FCTA might take enforcement action, including the possible sealing of 34 embassies over unpaid ground rents…
THERE was chaos at the meeting of All Progressives Congress (APC) stakeholders in the North- East, on Sunday, after Comrade Mustapha Salihu, National Vice Chairman of the ruling in the North-East, failed to mention the name of Vice-President Kashim Shettima while endorsing President Bola Tinubu for a second term. The meeting, which was held in Gombe State, was attended by virtually all ministers, lawmakers, and governors of the party from the region. Abdullahi Ganduje, National Chairman of the APC, also led some key personalities to the event. When it was the turn of Salihu to speak, he endorsed Tinubu to…
THE administration of United States President Donald Trump has commenced plans to place a general visa ban on Nigerians. According to a report by the Washington Post, an internal memo signed by Secretary of State Marco Rubio on Saturday outlines a proposal that could impose visa restrictions or entry bans on up to 36 additional nations. These countries are expected to comply with newly established requirements from the US State Department within a 60-day timeframe or face potential travel restrictions. United States President Donald Trump is considering imposing a travel ban on Nigeria and a host of other countries, mostly…