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Scarcity of Liquefied Petroleum Gas also known as cooking gas has hit Lagos and some other states in the country. The other affected states, according to findings by our correspondents are: Katsina, Sokoto, Delta, Kaduna and Kano. The rise in price of the commodity has been noticed since late last month, causing a continuous rise in prices. Market survey carried out by The PUNCH over the weekend, revealed that 12.5kg of cooking gas now sells for between N13,500 and N14,000 at the black market. Some of the traders told our correspondents that gas plant owners now sell to them at…
Sheila Bush, a cosmetologist, was lounging in the recliner at her St. Louis-area home last winter when an advertisement from a law firm flashed up on her television screen, urging viewers to call a toll-free number if they or a loved one had used hair relaxers and been diagnosed with uterine cancer. After seeing the ad three times, Bush, who said she had used hair relaxers every six weeks for most of her life and was diagnosed with uterine cancer about a decade ago, decided to pick up the phone. The ads Bush saw, on television as well as on…
France is set to return $150 million, another tranche of the loot traced to Sani Abacha, former Nigerian military leader, to the country. Ajuri Ngelale, special adviser to the president on media and publicity, made the announcement in a statement on Friday following a meeting between President Bola Tinubu and Catherine Colonna, the minister of Europe and foreign affairs of France. Tinubu thanked France for the return of the loot, saying it would be used in developing the country. “Thank you for the good news on the return of Abacha loot. We appreciate your effective cooperation concerning the return of…
The naira continued its appreciation streak against the dollar, strengthening to N980/$ in the parallel market on Friday. Aminu Gwadabe, president of the Association of Bureaux De Change Operators of Nigeria (ABCON), made this known in a statement. Earlier in the day, the naira had appreciated to N1,040 against the dollar at the parallel section of the foreign exchange market. He said the naira rebound is the manifestation of measures of dollar liquidity injection and naira mopping through the instrumentality of interest rate hikes. “It is a good development as it is a great risk to speculate, hoard and substitute…
Nigeria Labour Congress (NLC) and the Trade Union Congress of Nigeria (TUC) have announced plans for a nationwide strike beginning on Wednesday, November 8, in response to the recent abduction and physical assault of their president, Joe Ajaero. The incident occurred on Wednesday, when the Imo State Police Command, allegedly acting on the orders of the State Governor, abducted Ajaero from the NLC state council secretariat in Owerri, where he was waiting for colleagues to join him for a peaceful protest rally. According to the labour unions, Ajaero was blindfolded, beaten to a pulp, brutalised, humiliated, and violated by the…
Rwandan President Paul Kagame has introduced visa-free travel for Nigerians and all Africans. Rwanda is now one of the African countries after Seychelles, The Gambia and Benin, that provides visa-free entry for all African citizens. “Let there be no mistake about it. Any African can get on a plane to Rwanda whenever they wish and will not pay a thing to enter our country,” Kagame was quoted on BBC News Africa X handle on Thursday. He added that the move was aimed at taking advantage of Africa’s growing tourism market, driven by the continent’s growing middle class. Rwanda has been…
Central Bank of Nigeria (CBN) has started clearing the foreign exchange (FX) forwards backlog in banks. Payment commenced on Wednesday, a source in the apex bank said while confirming the development. On September 22, Wale Edun, the finance minister and coordinating minister of the economy, said the overdue forward payments were behind the depreciation of the naira. Edun said settling the forex backlog would increase FX supply in the foreign exchange market and strengthen the local currency against the dollar. The naira, on Tuesday, depreciated to N1,185 per dollar at the FX parallel market and strengthened to N786 at the…
Failure to supply crude oil to domestic refineries, including the multi-billion dollar Dangote Refinery, has stalled the production of refined petroleum products at the facilities. This is also as the 650,000 barrels per day Dangote refinery in Lagos missed the October production projection it had earlier set. The October production target miss made it the second time in 2023 that Dangote Refinery would raise hopes of Africa, especially Nigeria, of a possible end to petrol importation. Failure to begin production means that Nigeria will continue to rely on fuel importation. It was gathered on Wednesday that amid Nigeria’s continued imports…
Nigeria’s foreign debt is expected to rise further to about $51 billion, following President Bola Tinubu’s request to the Senate, seeking approval to borrow additional $7.8 billion and €100million, as part of his 2022-2024 borrowing plan. Some financial analysts have debunked the official reasons given for the borrowing, claiming it was rather meant as a bridging loan to cushion the country’s current balance of payment crisis. Nigeria’s foreign debt as at June 2023, was put at $43.2 billion, while domestic debt is put at N54.1 trillion, bringing public debt to N113.4 trillion. With the presidential request for new borrowing, coupled…
Nigeria Labour Congress (NLC) says Joe Ajaero, its president, was brutalised in Imo state. The NLC said Ajaero was beaten and blindfolded immediately after he was arrested by security operatives. Earlier on Wednesday, Ajaero was reportedly picked up from the Imo council secretariat of the NLC by heavily armed police officers. Denying the arrest, the police command in Imo said the NLC president was taken into protective custody to avoid being lynched by a mob. Reacting to the incident, Benson Upah, media head of the NLC, in a statement, said the phones and personal belongings taken from the NLC president…
June 09, 2025

Nigerian energy firm achieves 200,000 barrels daily output after Shell acquisition

Renaissance Africa Energy Company Limited (RAEC) announced it has successfully increased crude oil production beyond…
June 09, 2025

Northern leaders criticize Tinubu for focusing on 2027 re-election instead of national challenges

The Arewa Consultative Forum (ACF) has criticized President Bola Tinubu and the ruling All Progressives…
June 09, 2025

The two kinds of people in the world - and why it matters for leadership

Robert E. Siegel One provocative assertion I often make when teaching is that there are…
June 07, 2025

‘Nigerians are marrying all our daughters’, Kenya’s President Ruto, cries out

Kenyan President William Ruto has stirred up a storm on social media with his provocative…
June 06, 2025

Gunmen kill two policemen, abduct Chinese in Kwara

The Kwara State Police Command on Thursday confirmed the killing of two policemen and the…
June 09, 2025

Here’s the latest as Israel-Hamas war enters Day 612

Israel reveals tunnel under Gaza hospital, says body of Sinwar's brother found there The Israeli…
June 08, 2025

Let God back into the lab: Why science without God is failing us

David Rives In recent decades, a subtle and sinister revolution has occurred in our scientific…
May 13, 2025

Nigeria's Flying Eagles qualify for World Cup after dramatic win over Senegal

Nigeria's U-20 national football team, the Flying Eagles, have secured their place at the 2025…

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