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Thursday, 01 June 2023 04:31

Tinubu's daughter adopts title of ‘First daughter of FRN’, promotes self to Iyaloja-general of Nigeria

Iyaloja-general of Lagos State, Folasade Tinubu-Ojo, has updated her profile on the microblogging site, Twitter, reflecting the title ‘first daughter of the Federal Republic of Nigeria (FRN)’. This is coming after her father, President Bola Tinubu, was sworn in as the President on Monday. Tinubu-Ojo currently has over 21,000 followers on the popular microblogging site. A check on her Twitter bio reads, “This is the Official Handle of the Iyaloja General of Nigeria. The First Daughter of the FRN.” Also, in a series of tweets, Tinubu-Ojo said she had launched an initiative to support her father’s administration. “Friends of Iyaloja…

Wednesday, 31 May 2023 04:43

Fuel subsidy: Tinubu's plan to scrap measure sparks rush to stock up, price hike

The first full day in power of Nigeria's new president has seen people panic-buying fuel following his decision to scrap a decades-long subsidy on petroleum products. In Monday's inaugural address, Bola Tinubu said the subsidy was "gone". But he gave no timeframe or any more details of this major policy move. On Tuesday, his team clarified that he meant the end of June and that the panic buying was "needless", as the policy will not take immediate effect. Tinubu wants to ease pressure on government finances, but ending the subsidy will increase the cost of petrol and hit other prices…

Wednesday, 31 May 2023 04:39

Tinubu orders DSS to remove siege laid to EFCC office in Lagos

President Bola Tinubu has asked the Department of State Services (DSS) to vacate the office of the Economic and Financial Crimes Commission in Ikoyi, Lagos, immediately. DSS had laid siege to the office of the anti-graft agency on Tuesday morning. EFCC officials were reportedly prevented from accessing their office. Later, operatives of the secret police moved in two Armoured Personnel Carriers to block the main entrance of the building. It was learnt that the feud arose from a rivalry between the both agencies over the ownership of the building. Spokesman of the anti-graft agency, Wilson Uwujaren, when contacted, described the…

Wednesday, 31 May 2023 04:38

Russia to send fertilizers to Nigeria for free - Official

Moscow intends to deliver a shipment of Russian fertilizers to Nigeria free of charge in the near future, Russian Foreign Minister Sergey Lavrov said on Tuesday at a press conference following his visit to Burundi. "Last September, President [Vladimir] Putin announced that we were ready to deliver 300,000 tons of our fertilizers, illegally seized in EU ports, to African countries free of charge. Fully in line with colonial practices and habits, the EU leadership blocked this initiative. It took us 6 months to get at least the first shipment of 20,000 tons to Malawi, and just recently another shipment of…

Wednesday, 31 May 2023 04:35

Appoint social work specialist as Humanitarian Affairs Minister, NASoW charges Tinubu

Nigeria Association of Social Workers (NASoW) has urged President Bola Tinubu to appoint a qualified Social Worker as the Minister of Humanitarian Affairs, Disaster Management and Social Development in the interest of the nation. The association said this is necessary because it is the main ministry that has core mandate to promote social work and quality social services delivery in the country. NASoW made these disclosures in a message addressed to Tinubu on his swearing in as the 16th President of Nigeria. NASoW in a statement signed by its National President, Mashood Mustapha, said appointment of a social worker who…

Tuesday, 30 May 2023 03:38

Nigeria’s $10bn of fuel subsidies are gone, Tinubu says - Bloomberg

Bola Tinubu took over as Nigeria’s president and pledged to scrap a costly fuel subsidy, address widening insecurity and revive Africa’s largest economy. The 71-year-old former state governor was sworn in at a ceremony in the capital, Abuja, on Monday. He succeeds Muhammadu Buhari, who stepped down after two terms, and inherits a daunting list of problems to tackle in the continent’s most-populous nation. “We have endured hardships that would have made other societies crumble,” Tinubu said after taking the oath of office. The president said his administration will target an economic growth rate of at least 6% a year,…

Tuesday, 30 May 2023 03:37

Labour leaders react to Tinubu’s plan to end petrol subsidy

Some labour leaders say there is a need for all stakeholders in the sector, including the government, to analyse the issue of fuel subsidy removal mentioned by the new President, Bola Tinubu, in his inaugural speech. Tinubu, on taking office on Monday, said that the budget in place before his coming on board made no provision for fuel subsidy, and so it was gone. The President commended the decision of the Buhari administration in phasing out the petrol subsidy regime, saying it had increasingly favoured the rich more than the poor. “Subsidy can no longer justify its ever-increasing costs in…

Tuesday, 30 May 2023 03:36

‘Squandered goodwill’: How Buhari failed Nigeria a second time - Al Jazeera

Former President Muhammadu Buhari has handed over the reins of power to fellow party man Bola Tinubu of the All Progressives Congress (APC), leaving charge with a legacy very different to the one voters had hoped for when they elected him eight years ago. His 2015 victory over Goodluck Jonathan, the first defeat of an incumbent president in Nigerian history, was his second time in power after an August 1985 palace coup ended his 18-month stint as military ruler. Success at the polls came after three consecutive failed attempts by Buhari to return to the presidency as the electorate turned…

Tuesday, 30 May 2023 03:36

How Raymond Dokpesi, the broadcast entrepreneur, died

Raymond Dokpesi, the founder of DAAR Communications, died on Monday after a fall while using a treadmill machine, a statement by DAAR Communications has said. The statement, issued on Monday and signed by the Group Managing Director of DAAR Communications, Tony Akiotu, stated that Dokpesi was recovering from an undisclosed illness and had to do routine exercises as part of recuperation. Akiotu stated that the media mogul was ill for some weeks before the fall that claimed his life adding that Dokpesi was using the machine to exercise before the tragic event happened. “The board and management of DAAR Communications…

Monday, 29 May 2023 04:25

Tinubu gets ‘his turn’ as president, taking over from Buhari who failed on many fronts - Reuters

Bola Tinubu will be sworn in as Nigeria's president on today under the cloud of a disputed election and pressure to quickly improve economic and security conditions, which many complain worsened under his predecessor Muhammadu Buhari. Two of Tinubu's main opponents in the February election are challenging his victory on the basis of fraud claims, and a tribunal will on Tuesday start hearing their main arguments. A ruling is not expected before September. Buhari, a taciturn former military ruler, leaves Africa's biggest economy and most populous nation deeply divided. The election had galvanised young voters hoping for a break from…

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Monday, 29 May 2023 04:24

Buhari years: His ‘best’ was downright dreadful - Punch Editorial

MAJOR GENERAL Muhammadu Buhari (retd.) bows out today as the fourth Executive President of Nigeria’s Fourth Republic, and the fifth in its history, and across the country and its far-flung diaspora, a loud, collective sigh of relief can be heard. It has by a wide consensus been eight locust years of privation, insecurity, division, shortages of essential food and energy and of despair. Buhari misgoverned Nigeria, deepened its political and social fault lines, enthroned sectionalism, and nepotism, oversaw two economic recessions and undermined democracy and the rule of law. Most Nigerians are happy to see him go. Some did not…

Monday, 29 May 2023 04:21

Reps concur with Senate, amend law to enable FG borrow more from CBN

House of Representatives has passed the amendment to the 2022 supplementary budget to extend its implementation to December 2023. The house, in an emergency session on Sunday, also passed the bill to amend the CBN act. Under the CBN act, the ways and means provision allows the government to borrow from the CBN to finance budget shortfalls. The amendment increases the CBN advances to the federal government from five percent to 15 percent. The bill, sponsored by Victor Nwokolo, chairman of the house committee on banking and finance, was passed for second reading on Thursday. During the emergency plenary, the…

Monday, 29 May 2023 04:18

After the ‘show’ in Abuja, Nigeria Air aircraft back in Ethiopia

Latest information on flight live tracker ‘flightrader24.com’ currently shows the Nigeria Air aircraft is back to Ethiopia where it was brought in from. As of Saturday evening, the flight tracker showed the aircraft was enroute Addis Ababa, approaching from Central African republic. Later on Saturday evening, the flight tracker read, “The flight with callsign ETH8950 is currently not tracked by Flightradar24. It’s either out of coverage or has already landed.” However on Sunday morning, the flight tracker showed the plane has landed at Ethiopia. BusinessDay’s had reported Hadi Sirika, the minister of aviation contacted Ethiopian airlines to provide an aircraft…

Sunday, 28 May 2023 04:30

Senate amends CBN Act to allow FG borrow more from CBN

Senate has amended the Central Bank of Nigeria (CBN) Act — increasing the “ways and means borrowing” threshold for the federal government. During an emergency session held on Saturday, the senate raised the limit from a 5 percent of revenue threshold to a maximum of 15 percent that the government can get from the CBN. Ways and means is a loan facility through which the CBN finances the government’s budget shortfalls. The facility allows the government to borrow from the apex bank if it needs short-term or emergency finance to fund important projects. According to Ibrahim Gobir, senate leader, the…

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