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NDLEA thwarts attempt to smuggle in N4.5bn worth of cocaine at MMA

Abuja, Nov. 3, 2024 – The National Drug Law Enforcement Agency (NDLEA) says it thwarted an attempt by an international drug syndicate to smuggle in 845 wraps of cocaine weighing 18.72 kilograms at the Lagos airport. The drug consignments, worth ₦4.492 billion in street value, were recovered from two lavatories of an Ethiopian Airlines aircraft during the post-landing cleaning of the cabin of flight ET900 from Addis Ababa to Lagos on Tuesday, Oct. 29, 2024. Femi Babafemi, the NDLEA Spokesman, disclosed this in a statement on Sunday. He said: “The …

Majesty, grandeur as Iyin Ekiti celebrates Iyin Day 2024

Iyin-Ekiti, Nov. 3, 2024 – It was all majesty, grandeur and pageantry on Saturday as Iyin Ekiti, a major town in South-West Ekiti State, celebrated Iyin Day 2024, an annual socio-cultural celebration that brings together all the sons and daughters of the town as well as invited guests from around the country. Notable personalities, including traditional rulers, turned out in their numbers to witness Iyin Day Carnival, which was the culmination of week-long activities that included interdenominational service, medical outreach, environmental sanitation, commissioning of projects, medical outreach, health and fitness …

U.S. 2024 Presidential Election: Trump the man to beat

By Bisi Olawunmi Ede, Nov. 3, 2024 – With a few days to the Nov. 5, 2024, U.S. presidential election, the campaign tempo has reached fever pitch, with the two candidates, Vice-President Kamala Harris (Democrat) and former president, Donald Trump (Republican) in a dead run to the finish line.  The final national New York Times/Siena poll, published on 25 October 2024, had the two candidates deadlocked at 48% to 48% for the popular vote.   Aggregate of national polls also project the election as neck-and-neck, with the two candidates tied at …

How will Kamala or Trump navigate giant tax debate in 2025?

Washington, Nov. 3, 2023 – Whichever candidate prevails this November will immediately become the loudest voice in a fierce tax debate set to consume Washington in 2025. Policymakers will have to decide what to do about cuts signed into law in 2017 that expire at the end of the first year of the next president’s term. There is one area of significant agreement within the sprawling debate between Vice President Kamala Harris and former President Donald Trump: They both think taxpayers who make under $400,000 a year should see their …

7 vessels to arrive Lagos ports with petroleum products – NPA

Lagos, Nov. 1, 2024 – The Nigerian Ports Authority (NPA) has reported that seven ships will berth with crude oil on Friday at the Lagos ports. The NPA, in its “Daily Shipping Position’, said that seven vessels, out of the nine expected, would berth with diesel, crude oil, bulk urea, petrol, and aviation fuel. “The remaining two vessels will berth with containers carrying different goods. The nine expected vessels will berth at Sifax, ENL Consortium Terminals, Apapa Bulk Terminal (ABT), among other terminals in Lagos, it said. The NPA said …

Tinubu rejects NEC’s recommendation to withdraw Tax Reform Bill from NASS

Abuja, Nov. 1, 2024 – President Bola Tinubu has rejected the recommendation of the National Economic Council (NEC) to withdraw the controversial Tax Reform Bill from the National Assembly. Tinubu had transmitted the bill to the National Assembly for consideration and passage on Sept. 3, 2024. However, the bill has been generating controversies since its submission to the Assembly because of its provision which prescribes that proceeds from Value Added Tax (VAT) be shared among the federating states on the basis of derivation. The Northern State Government Forum was particularly …

Fubara denies shutting down oil activities in Rivers

Port Harcourt, Nov. 1, 2024 – The Rivers State Government has denied media reports that it had shut down oil exploration activities in the state. Joseph Johnson, the state Commissioner for Information and Communications, made the denial in a statement on Thursday. He described the report as false and concocted propaganda. Some media platforms have been carrying a report that Governor Siminalayi Fubara had shut down oil operations in the state. The report reads: “Breaking News: Rivers State Governor Sim Fubara Shuts Down NNPC and All Oil Companies in Rivers …

11,000 Nigerians receive N3.5bn loans from consumer credit scheme

Abuja, Nov. 1, 2024 – More than 11,000 Nigerians have received N3.5 billion loans from the Nigerian Consumer Credit Scheme (CREDICORP) in the last five days. Mr Edun, the Minister of Finance and Coordinating Minister of the Economy, disclosed this to journalists in Abuja on Thursday at the end of the National Economic Council (NEC) meeting. He said the scheme was one of the measures designed by the Tinubu administration to ameliorate the harsh effects of government economic policies. The minister said the President was committed to assisting the vulnerable in …

Oil gains more than $1/bbl on reports Iran preparing strike on Israel

Singapore, Nov. 1, 2024 – Oil prices extended gains on Friday, climbing more than $1 a barrel to pare weekly losses, as geopolitical tensions in the Middle East rose following reports that Iran was preparing a retaliatory strike on Israel from Iraq in the coming days. Brent crude futures, which have rolled to the January contract, climbed $1.41, or 2%, to $74.22 a barrel by 0456 GMT. U.S. West Texas Intermediate crude futures rose $1.46, or 2.1%, to $70.72 a barrel after settling up 0.95% in the previous session. Israeli …

TotalEnergies Q3 income hits three-year low as refining margins plunge

Paris, Nov. 1, 2024 – French oil major TotalEnergies third-quarter profit hit a three-year low of $4.1 billion on Thursday, slightly missing expectations as refining margins and upstream outages dragged down earnings. Adjusted net income was down 37% from a year earlier and 12.7% lower from the previous quarter’s $4.7 billion. The result just missed analyst expectations of $4.2 billion. Adjusted earnings before interest, tax, depreciation and amortization (EBITDA) fell 23.6% year-on-year to $10 billion. Earlier this month, TotalEnergies warned its financial results would take a hit as its margin …