Category: News

  • Presidential Aspirant, Prof. Imumolen offers international students scholarships

    Presidential Aspirant, Prof. Imumolen offers international students scholarships

    ABUJA – Prof. Chris Imumolen, a prominent figure in academia, philanthropy, and politics, has made it possible for Nigerian students who are interested in enrolling in undergraduate or postgraduate programs at a variety of foreign universities around the world to apply for scholarships to attend those institutions.

    Prof. Imumolen, a candidate for president on the platform of the Accord Party, has described Nigeria as one of the underdeveloped countries of the world. He believes that education in Nigeria should either be subsidized or made free for the population so that they can become more self-sufficient and break out of the cycle of poverty.

    On the other hand, if he is elected President of Nigeria in 2023, he will fulfill his promise to make education both free and mandatory for all ages and levels.

  • Dangote outlines 7 points to boost investment, stabilize downstream sector

    Dangote outlines 7 points to boost investment, stabilize downstream sector

    Dangote Refinery, an indigenous refinery, listed seven points yesterday that could help Nigeria boost investment and stability in the downstream sector.

    Increased private sector enterprise, a competitive investment regime, a shift in government policy, the elimination of fuel subsidies, the introduction of calibrated fuel taxation, the reduction of interest rates to a single digit regime, and careful monitoring were among the seven points.

    The company stated that the downstream sector of the economy is currently hampered by a lack of private investment and inadequate infrastructure, preventing the government from meeting domestic demand for petroleum products.

    It also stated that increased product importation has resulted in a loss of foreign exchange that could have been used to complete projects and programs.
    Engr. B Soyode, Technical Consultant, Dangote Industries Limited, said this while speaking on “Dangote Refinery – Game Changer of the Downstream Industry” at the Nigerian Content Midstream/Downstream Oil and Gas Summit in Lagos, that the situation will change for the better once the refinery’s 650,000 barrels per day, bpd plant comes on stream.
    Dangote Petroleum Refinery was recently praised by the Society of Petroleum Engineers (SPE) and the Nigerian Content Development and Monitoring Board (NCDMB) for using world-class technology in its construction.

    The SPE and NCDMB, who recently visited the petroleum refinery project, believe that the facility has the potential to redefine Nigeria’s domestic fuel production.

    They also stated that the completion of the massive project will ensure the future of Nigeria’s young engineers and put them on par with their counterparts in the global oil and gas industry.

  • Breaking: Plane crash-lands on busy Lagos road

    Breaking: Plane crash-lands on busy Lagos road

    A plane has crashed-landed on a busy road in Ikeja, the capital of Lagos State, on Tuesday night.

    Footages of the incident are currently circulating on social media.

    However, no indication that there was any casualty at the time of filing this report.

    Details later.

  • Breaking: CBN’s monetary policy committee raises the interest rate to 13% while keeping all other parameters unchanged

    Breaking: CBN’s monetary policy committee raises the interest rate to 13% while keeping all other parameters unchanged

    After two years of expansionary monetary policy, the Central Bank of Nigeria’s Monetary Policy Committee unanimously voted to raise the benchmark interest rate to 13%.

    The CBN Governor, Godwin Emefiele, revealed this while reading the communique of the year’s third monetary policy committee meeting on Tuesday, May 24th, 2022.

    The rate, which had been at 11.5 percent since September 2020 in an effort to help the economy recover from the recession caused by the covid-19, has now been raised by the apex bank as inflation rates have risen above 16 percent.

    The CBN’s hawkish move is aimed at lowering the country’s rising inflation rate while still ensuring cautious economic growth.

    The Committee’s Decision Highlights

    1. MPR has increased to 13%.
    2. CRR was kept at 27.5 percent, with an asymmetric corridor of +100/-700 basis points around the MPR.
    3. The Liquidity Ratio was also maintained at 30%.
  • Tickets Hit N100,000 As Abuja-Kaduna Flights Resume After 2 Months

    Tickets Hit N100,000 As Abuja-Kaduna Flights Resume After 2 Months

    Azman Air resumed flights to Kaduna after about two-month suspension due to terrorist attack on the Kaduna International Airport.

    The airline touched down at the airport around noon on Monday, to the delight of airport stakeholders, passengers, and the airport authority.

    On March 28, the airline cancelled the flight to Kaduna after terrorists invaded the airport runway.

    The flight was halted while the airline assessed airport security.

    Read Also:  Breaking: EFCC storms Okorocha’s Abuja residence to arrest him

    Following the attack on the Nigerian Airspace Management Agency (NAMA), other airlines also halted flights.

    The Abuja-Kaduna train was attacked the next day, killing ten people and kidnapping 61 more.

    Passengers on the Kaduna route, however, were given some relief when one of the airlines that served the route resumed flights.

    Azman arrived at the airport with 42 passengers around noon on Monday, with some of the passengers paying more than N100,000 for the flight from Abuja to Kaduna.

    According to reports, the flight time between Abuja and Kaduna is about 20 minutes, but many passengers paid over N100,000 for a two-leg ticket from Abuja to Kaduna.

    Although the airline did not fly directly to Kaduna, it did fly passengers to Lagos’ Murtala Muhammed Airport, where they were connected to the Kaduna flight.

    “This demonstrates how desperate people were to travel to Kaduna given the security challenges on the Abuja-Kaduna Road and the suspension of the Abuja-Kaduna Train Service,” a source said.

    Read Also:  COEASU gives FG 21-day deadline to meet its demands, or…..

    The next flight to Kaduna will be on Wednesday, according to an Azman official who confirmed the flight’s resumption.

    “It was a defining moment for the Aviation community as the airport was reopened after being closed for two months,” the airline said on its Twitter page. It’s wonderful to return.”

  • Rivers Is Home For Business, Says BUA GM

    Rivers Is Home For Business, Says BUA GM

    Mohammed Ibrahim, the general manager of BUA Ports and Terminal Limited in Port Harcourt, said the BUA group of companies is doing business in Rivers State.

    The general manager described the business environment in Rivers State as “very conducive” during a courtesy visit by Energy and Maritime Reporters (EMR) last week in Port Harcourt, Rivers state. He cited good road infrastructure, especially between the last administration in the state and the current administration.

    However, he noted that there are challenges posed by unauthorised government agencies and inappropriate community demands.
    “These are normal things,” he said, adding, “but since we’ve come to sit here permanently, we’ve also built up a team that’s able to manage all these challenges, whether from communities or government agencies asking for one thing or another, or even from people posing as government officials.”

    The GM advised those who are in the habit of cooking up demands to stop doing so and instead appreciate what businesses like BUA’s have come to do in the state, noting that the BUA group is on the ground in the state and stands up to different task forces enforcing different demands.

    Illegitimate harassment, he claims, occurs occasionally and is more common in the Niger Delta than elsewhere in the country.

    He cited the example of titled chiefs confronting the company to express their dissatisfaction with ships destroying their community’s fishing nets.

    Read Also:  Breaking: EFCC storms Okorocha’s Abuja residence to arrest him

    “There are basic things to understand here,” he said in response to counsel. Water channels are shared-use channels, and the government has the right of way over them. You don’t put fishing nets in common user channels where international cruise ships pass.”

    Ibrahim suggested that people’s attitudes toward businesses need to be reoriented.

    “They should see businesses as partners in progress, providing excellent opportunities for their employees and helping to develop their community.”

    “In terms of business, Lagos is doing well because it doesn’t face the same challenges that we do here.” People will know that these companies that are coming will bring positive economic development to the state if they are properly informed.”

    He also praised Rivers State Governor Nyesom Wike for frequently cautioning communities against interfering with business operations.

    He stated, “That attitude will change a lot of things.” “We are standing and doing more because we are at home in Rivers State.”

    He claims that BUA creates a lot of jobs, both directly and indirectly, and that it is a 100% Nigerian company with many subsidiaries.

    Read Also:  COEASU gives FG 21-day deadline to meet its demands, or…..

    BUA operates flour mills and produces pasta, spaghetti, semolina, and other flour-based products in addition to its bulk cargo ports and terminals.
    It also owns sugar plants in Rivers and other states, as well as a petroleum refinery and a cement factory in Edo State, and is currently constructing a POP (Plaster of Paris) plant in Makoba, Rivers State, to serve the construction, pharmaceutical, and orthopaedic industries.

  • Breaking: EFCC storms Okorocha’s Abuja residence to arrest him

    Breaking: EFCC storms Okorocha’s Abuja residence to arrest him

    ABUJA– THE FEDERAL GOVERNMENT has threatened to use every legal tool at its disposal to rid the Nigerian gaming industry of all criminal elements.

    Following the discovery of a forged Sports Betting Permit by some criminal elements operating in Lagos State, the Director-General of the National Lottery Regulatory Commission, Mr. Lane Gbajabiamila, issued a warning.

    Mr. Magnus Ekechukwu, the NLRC’s Head of Public Affairs, said in a statement in Abuja that the Director-General stated that the criminals have been arrested and are being prosecuted to serve as a deterrent to others who may harbor similar thoughts.

    “It is quite appalling to discover that people could want to defraud the Federal Government believing they would not be arrested at this time and age,” he says. All criminals should stay away from the lottery industry, because I can assure them that they will be apprehended and prosecuted.

    “The criminals who have already been apprehended will serve as a deterrent to others who want to defraud the government.” Such criminality will not be tolerated or allowed in our industry.”

    The Director General went on to say that the Commission represents integrity, transparency, and accountability, all of which are hallmarks of the Nigerian gaming industry.

    He emphasized that any operator who fails to adhere to these core values risks breaking the Commission’s rules and guidelines, which could result in severe penalties.

    Gbajabiamila urged Commission staff, licensed operators, and the general public to be more vigilant in their efforts to catch illegal operators who are out there trying to sabotage the Commission’s efforts to build a strong Nigerian gaming industry, while also encouraging licensed operators to always follow the rules.

  • Breaking: CBN’s monetary policy committee raises interest rate to 13%

    Breaking: CBN’s monetary policy committee raises interest rate to 13%

    After more than two years of expansionary monetary policy, the Nigerian Central Bank’s Monetary Policy Committee unanimously voted to raise the benchmark interest rate to 13%.

    This was revealed by the CBN’s Governor, Godwin Emefiele, while reading the communique from the year’s third monetary policy committee meeting on Tuesday, May 24th, 2022.

    Read Also:  COEASU gives FG 21-day deadline to meet its demands, or…..

    The rate, which had been at 11.5 percent since September 2020 in an effort to boost economic growth after the covid-19 pandemic caused a recession in 2020, has now been raised by the apex bank as inflation rates have risen above 16 percent.

    More details shortly…

  • COEASU gives FG 21-day deadline to meet its demands, or…..

    COEASU gives FG 21-day deadline to meet its demands, or…..

    The Colleges of Education Academic Staff Union (COEASU) has given the Federal Government a 21-day ultimatum to meet its demands, stating that if the deadline is not met, it will be forced to engage in nationwide industrial action.

    The union bemoaned the government’s indifference to the plight of its members, the majority of whom are owners of various educational institutions across the country.

    COEASU stated its position in a press statement issued and signed by Mohammed Bello Umar, the union’s Vice President and Northeast zonal coordinator, with copies distributed to journalists in Bauchi.
    The union expressed concern about lingering issues in the country’s educational institutions, claiming that the situation requires immediate attention to avoid further deterioration.

    “This is to bring public and government attention to COEASU’s plight in Nigeria in the hopes of finding a solution.” Despite the government’s claim that it has plenty of time to address issues threatening Nigerians’ social, economic, and political lives, nothing has been done.

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    “To put it mildly, the government’s attitude toward problems involving Nigerian educational institutions is concerning.

    “The country’s educational sector is confronted with a slew of issues that have varying effects on staff, students, and, by extension, the general public.”

    “If nothing is done about these problems, the next generation will suffer.” The main point of contention is governments’ inaction in renegotiating the COEASU-FGN 2010 Agreement.”

    “After five years, the 2010 agreement should have been renegotiated to update the provisions, streamline some grey areas, and address emerging issues of contention in tertiary institutions.” The agreement aims to align with global best practises and foster long-term industrial peace.”

    “Since 2015, when the 2010 agreement was due for renegotiation, the government has refused to allow for the start of renegotiation, which will fill many gaps.” Parts of the statement

    At the start of the exercise, the union accused the government of making excuses and remaining arrogant.

    “Other issues include the non-implementation of the white paper on the 2014 Presidential Needs Assessment across public COEs in Nigeria, inadequate funding of Colleges of Education, and poor implementation of NCCE approved Conditions/scheme of service across State-owned COEs.”

    The rest includes FG’s obstinate stance in favour of IPPIS over the more reliable UTAS.” According to the press release

    According to the union, the Integrated Personnel and Payroll Information System (IPPIS) is causing more harm than good to tertiary institutions, citing issues such as staff omission in salary payment, unsolicited deductions, salary payment shortages, and unremitted third-party deductions.

    Read Also:  2023: I Have Stopped Partisan Politics — Ex-President Obasanjo Tells Visiting Governors Wike, Makinde, Ortom

    They also expressed dissatisfaction with the government’s refusal to comply with the Union’s demand for the adoption of the University Transparency and Accountability Solution (UTAS), an alternative innovation developed by the Academic Staff Union of Universities (ASUU) and tailored to the tertiary education sector.

  • 2023: I Have Stopped Partisan Politics — Ex-President Obasanjo Tells Visiting Governors Wike, Makinde, Ortom

    2023: I Have Stopped Partisan Politics — Ex-President Obasanjo Tells Visiting Governors Wike, Makinde, Ortom

    Former President Olusegun Obasanjo has stated that he is no longer involved in partisan politics, but that he wishes for Nigeria to overcome its numerous problems.
    Obasanjo stated that a single effort would not be enough to solve the country’s problems, and that Nigerians must band together to solve the issues.

    He said this to reporters shortly after receiving Rivers State Governor Nyesom Wike, Oyo State Governor Seyi Makinde, Benue State Governor Samuel Ortom, former Cross River State Governor Donald Duke, and others in Abeokuta.
    In continuation of his consultations across the six geopolitical zones, Rivers Governor Wike paid a visit to the ex-president.
    Obasanjo praised Wike’s courage, particularly the manner in which he pursued his goals.
    He did, however, tell his guests that he had long since stopped being a partisan politician, but that he would continue to look out for Nigerians’ interests.

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    He claimed that if Nigeria enshrined the basic ingredients that would bring unity and inclusion, everything else would fall into place to help remove conflict, and the country would be able to solve insecurity and other issues.
    Wike, for one, said zoning was in the PDP’s constitution and in line with the nation’s constitution, which also provided for fairness and equity, and that the party had thrown its presidential ticket open, and that he was willing to run in the primary election.
    “I am confident that I have what it takes to win both the PDP primaries and the general election,” he said. I commit to working for Nigeria’s and Nigerians’ unity, stability, and security.”