Navy Demolishes Illegal Refineries in Delta

By Bliss Okperan The Nasarawa State House of Assembly has announced its election of Danladi Jatau, representing Kokona West Constituency, as the new Speaker. The state parliament also disclosed on Friday that it now has a new Deputy Speaker, who is Mohammed Oyanki, the lawmaker representing Doma North Constituency. The election of the two principal officers of the legislative arm of the state followed the sacking of its former Speaker, Mr Ibrahim Abdullahi, by the Appeal Court sitting in Abuja on Tuesday. While the new Speaker is a member of the All Progressives Congress (APC), his deputy is a member

By Adedapo Adesanya  The Vice President,  Mr Kashim Shettima,  has said the private sector forms an integral half of the crucial foundation that holds the Nigerian government, noting that President Bola Tinubu is committed to creating an environment that fosters entrepreneurship and innovation. This, according to him, explains why the president’s vision for Nigeria is grounded in eight priority areas, including poverty eradication, economic growth, job creation, and equitable access to capital. The Vice President spoke on Thursday while commissioning some projects, including the Ijele 93.1 FM Radio Station, Phase Two of the Sir Emeka Offor Foundation (SEOF) Touch-a-Life Housing

By Adedapo Adesanya The Socio-Economic Rights and Accountability Project (SERAP) has written to the World Bank to suspend issuing loans to Nigeria’s 36 states over allegations of mismanaging public funds which may include loans obtained from the institution. In the letter dated November 25, 2023, the group specifically wants the bank’s President, Mr Ajay Banga, “to promptly, transparently and effectively conduct an investigation into the spending of loans and other facilities by the country’s 36 state governors and to suspend any loans and funding if there is relevant admissible evidence of mismanagement or diversion of public funds by any of

By Bliss Okperan The Governor of Ogun State, Mr Dapo Abiodun, has asked Nigerians to give President Bola Tinubu more time, saying he has performed well in office since taking over on May 29, 2023, noting that he inherited an almost comatose economy from former President Muhammadu Buhari. “The President Tinubu-led administration has been very bold and audacious. They’ve taken the bull by the horns. They’ve done what no government has done in the history of Nigeria,” Mr Abiodun said during an interview on Channels Television’s Sunday Politics show. Recall that a few days ago on Channels TV, the Governor

By Adedapo Adesanya President Bola Ahmed Tinubu has encouraged Nigerians abroad to further boost the nation’s economy through remittances. Speaking at the 17th annual National Diaspora Day (NDD) 2023 at the Conference Centre, Presidential Villa, Abuja, on Tuesday, the President, who was represented by Mr Femi Gbajabiamila, his Chief of Staff, said Nigerians were excelling globally and contributing immensely to the country’s development through their resources, talents, skills and global exposure. “This, I must say, is commendable and in our enlightened self-interest as only Nigerians both at home and abroad can develop Nigeria,” he said. He confirmed that in 2022,

By Dipo Olowookere The key performance indicators of the Nigerian Exchange (NGX) Limited further depreciated by 0.05 per cent on Friday despite the strong investor sentiment at the close of transactions. The downfall of the local bourse continued due to profit-taking in oil stocks, especially Conoil and Oando, with the energy index down by 1.60 per cent and the industrial goods sector down by 0.56 per cent. But the insurance index was up by 3.78 per cent, the banking counter appreciated by 0.13 per cent, while the consumer goods sector closed flat. When the closing gong was struck at the

By Adedapo Adesanya Oil prices rose on Monday, rebounding from recent losses on reports that the Organisation of the Petroleum Exporting Countries and allies (OPEC+) could adjust plans to raise production. The Brent crude added 74 cents or 0.94 per cent yesterday to trade at $79.63 per barrel, while the West Texas Intermediate (WTI) rose 69 cents or 0.91 per cent to sell at $78.03 per barrel. The OPEC+ may alter plans to keep boosting production to counter plans by large consuming countries to release crude from their reserves or if the coronavirus pandemic dampens demand. The market had been

By Aduragbemi Omiyale A former deputy Governor of the Central Bank of Nigeria (CBN), Mr Kingsley Moghalu, has attributed the failure of the Naira redesign policy of the apex bank to the lack of effective risk management, its use as a political tool and others. Last October, the central bank Governor, Mr Godwin Emefiele, announced that the designs of the N200, N500, and N1,000 denominations would be changed. In a special press briefing, he disclosed that the new notes would be introduced into the banking system by December 15, while the old currency notes would cease to be legal tender

By Dipo Olowookere Governor Udom Emmanuel of Akwa Ibom State has inaugurated a panel of enquiry to deeply look into last Saturday’s church building collapse in Uyo, the state capital. It would be recalled that last weekend, the Governor had a close encounter with death. He was at the Reigners Bible Church for the ordination of the church’s pastor as Bishop when the roof of the church caved in and killed over 25 persons. Inaugurating the eight-member commission in his office, Mr Emmanuel charged the members to investigate the circumstances and role played by persons or institutions that led to

By Aduragbemi Omiyale The chairman of Dangote Sugar Refinery Plc, Mr Aliko Dangote, has disclosed that next season, the sugar miller plans to increase its production to over 170,000 tonnes. He said this at the Annual General Meeting (AGM) of the organisation recently. “We should be able to produce over 170,000 tonnes which are by far, in the history of Nigeria, the highest to be produced locally,” the businessman said while addressing shareholders at the event. It was observed that despite the economic headwinds that characterised 2022, the company put smiles on the faces of investors by paying N18.22 billion

By Modupe Gbadeyanka Heritage Bank Plc has promised to continue to put sustainability at the heart of its decision-making as a part of its sustainability drive in the corporate social responsibility space in order to achieve a healthy planet, which it said is “the backbone of nearly every industry on earth.” The financial institution made this pledge at an event organised by the Lagos State government to commemorate the 2022 World Environment Day Celebrations. The bank, for its contribution and support towards Environmental Sustainability, especially, in Lagos, was given the 2022 Environmental Sustainability Award. Speaking at the event specifically put

By Modupe Gbadeyanka Senate President, Mr Bukola Saraki, on Sunday, congratulated Mrs Funke Egbemode, on her re-election as the President of the Nigeria Guild of Editors (NGE), during the guild’s 13th annual conference in Lagos, at the weekend. Mr Saraki, in a statement by his Special Adviser (Media and Publicity), Mr Yusuph Olaniyonu, in Abuja, also congratulated other members of the newly elected Executive Council of the Guild. He noted that Mrs Egbemode has not only surpassed expectations in the last two years but has taken the body of gatekeepers in the media a notch higher in growth and excellence.