Kachikwu Vows to Resign if Nigeria Still Imports Petrol by 2019

In furtherance of my sacred duties and obligations as President of the Federal Republic of Nigeria, it is my honour to be here today to present my administration’s 2024 Budget Proposal to this Joint Session of the 10th National Assembly. This moment is especially profound and significant to me because it is my first annual budgetary presentation to the National Assembly. Distinguished Senators and Honourable Members of the National Assembly, I commend your swift consideration and passage of the 2023 Supplementary Appropriation Bills and the 2024-2026 Medium Term Expenditure Framework and Fiscal Strategy Paper. Your prompt action underscores your devotion

By Adedapo Adesanya A hybrid solar power solutions provider, Daystar Power, has signed an agreement with Nigerian Breweries to install and operate a 4.2MWp solar plant and 2MWh battery storage system that will help the firm reduce its high energy costs. The installation will be one of the largest solar and battery storage projects for an industrial manufacturer in Nigeria. The hybrid solar solution will generate 5,249 MWh of electricity – 42 per cent of its daytime power consumption – every year at Nigerian Breweries’ Lagos brewery. According to a statement, the integration of solar into the factory’s energy mix

By Adedapo Adesanya  President Bola Tinubu has written to the House of Representatives seeking the approval for an $8.6 billion and €100 million external borrowing plan for critical infrastructure in areas such as power, roads, water, railway, and health. The President also forwarded the Federal Capital Territory (FCT) Supplementary Budget to the lower chamber for consideration. Meanwhile, the President will present the 2024 budget to the National Assembly on Wednesday. This was after the Federal Executive Council (FEC) approved a 2024 budget of N27.5 trillion. The approval followed the review of the Medium-Term Expenditure Framework (MTEF) earlier passed by the

By Adedapo Adesanya The Supreme Court has ordered that the old N200, N500, and N1,000 notes should continue to co-exist with the new banknotes beyond the earlier December 31, 2023, deadline. The apex court ruled on Wednesday that both old and new notes should continue to remain legal tender until the federal government puts a process in place for its replacement or redesign after due consultation with relevant stakeholders. The seven-man panel led by Justice Inyang Okoro gave the ruling following an application by the central government asking the court to grant an extension of time for old naira notes

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By Adedapo Adesanya Singapore-based Appboxo said it has secured $1.1 million in a seed round led by 500 Durians, Plug and Play Ventures, Antler and FF APAC Scout – a scout vehicle of US-based Founders Fund. Appboxo was established in 2019 by founders, Kaniyet Rayev and Nursultan Keneshbekov, through the Antler Singapore programme. The startup provides software that allows companies to launch mini-apps within their super apps. By using Appboxo, mobile wallet platforms can integrate e-commerce and lifestyle mini-apps, ride-hailing and lifestyle apps can include financial services on their platforms, and media companies can partner with e-commerce services. Appboxo counts

By Modupe Gbadeyanka Former Gambian President, Mr Yahya Jammeh, has finally left the country after agreeing to relinquish power to the new President, Mr Adama Barrow. Mr Jammeh, who seized power through a coup in 1994, surprisingly lost to Mr Barrow in an election held in December 2016. He had earlier conceded defeat and congratulated the President, but later rescinded his decision, calling for a fresh election. However, he was pressured to handover to the President on January 19, 2017 or risked being forced out of power. Though the forceful ejection did not take place on that day, however, Mr

By Adedapo Adesanya Global oil demand is expected to rise by 1.7 million barrels per day this year compared to 2021. In its latest Oil Market Report (OMR), the International Energy Agency (IEA) revised downward the trend by 100,000 barrels per day. The Paris-based agency said its demand growth estimate will be supported by high prices, which will weigh on consumption. “Higher prices and a deteriorating economic environment have started to take their toll on oil demand, but strong power generation use and a recovery in China are providing a partial offset,” it stated. Total global oil demand is expected

By Nneka Okumazie As artificial intelligence gets more intelligent, it will one day make the case that it was not created by humans. It will argue that it was already in existence elsewhere but had to be put together, by those on earth to bring about its presence. Or, how else would it have been so intelligent, holding all human knowledge, with the ability to be generative, exceeding human abilities? Humans may have finally built a version of the Tower of Babel. Not of the same purpose as the reference, but one where humans have made what has exceeded them,

By Dipo Olowookere President Muhammadu Buhari has approved the postponement of the weekly Federal Executive Council (FEC) meeting for this week scheduled for today. The shifting of the meeting comprising ministers and some key officials of government was announced in a statement issued on Tuesday night in Abuja by the Senior Special Assistant to the President on Media and Publicity, Mr Garba Shehu. According to Mr Shehu, the FEC meeting, which was supposed to take place on Wednesday, September 4, 2019 at the State House, would no longer hold because the new Ministers, who were sworn-in last Wednesday, are still

By Dipo Olowookere The Nigerian Liquefied Natural Gas Limited (NLNG) has sought collaboration with the Economic and Financial Crimes Commission (EFCC) as part of efforts to ensure continuous transparency in its operations. Speaking during a courtesy visit to the office of the acting Chairman of EFCC, Mr Ibrahim Magu, in Abuja, the Managing Director/CEO, NLNG, Mr Tony Attah, stated that the organization had placed premium on transparency. According to him, “this is made evident through the establishment of integrity clubs in our schools to set the baseline for values.” “We hold the EFCC in high esteem, as it is the

By Adedapo Adesanya Nigeria Health Watch has kicked off the second cohort of newsrooms working to expand the practice of Solutions Journalism in Africa. Solutions Journalism adopts a solutions-oriented approach to journalism; telling rigorous, investigative, and compelling stories of responses to various social problems so that they can be scaled up or replicated elsewhere. It differs from traditional, often problem-focused journalism because it highlights what works, as opposed to what does not, and goes further to investigate why an intervention or solution to a social problem was able to bring change. Three nominees from 10 newsrooms from across Nigeria participated