Latest Articles
South-west states to use rail to boost economic activities
Ibadan, Oct. 5, 2023 – States in the South-west have resolved to use rail system within the area to boost economic activities in the region. Stakeholders in the region made the resolution at a meeting in Ibadan on Wednesday where they decided to use rail interconnectivity within the region for the purpose. The stakeholders included commissioners of transportation from the respective states and the management of the Development Agenda for Western Nigeria (DAWN). Seye Oyeleye, the Director General of DAWN, said the proposed rail connection would depopulate the urban centres …
Abducted Benue commissioner regains freedom
Makurdi, Oct. 5, 2023 – Mathew Abo, the Benue State Commissioner for Information, Culture and Tourism, who was abducted more than a week ago has been released by his abductors. Tersoo Kula, the Chief Press Secretary to the State Governor, confirmed his release in a statement on Thursday. He said the commissioner had been released and reunited with his family in Sankera in Ukum Local Government area of the state. According to the statement, the release followed the state governor’s pressure on security agencies to exert intense pressure on the …
Oil continues to tumble after previous session’s slide
London, Oct. 5, 2023 – Oil prices fell further by more than $1 on Thursday, extending the previous session’s sharp losses as an uncertain demand outlook overshadowed any boost from an OPEC+ panel maintaining oil output cuts to keep supply tight. Brent crude oil futures dropped $1.19 to $84.62 a barrel by 1045 GMT, while U.S. West Texas Intermediate crude were $1.31 lower at $82.91. Oil settled more than $5 lower on Wednesday, its biggest daily drop in over a year, as a bleaker macroeconomic outlook and fuel demand destruction …
Naira appreciates to N756.21 to dollar
Lagos, Oct. 5, 2023 – The Nigerian currency, the naira, appreciated at the Importers and Exporters (I&E) window of the Central Bank of Nigeria (CBN) on Wednesday, trading at N756.21 to the dollar. It was traded at N765.47 to the dollar at the window on Tuesday. The naira is, however, being traded at the black market in Lagos between N985 and N987 to the dollar on Thursday. It was traded within the same band of N985 and N987 to the dollar at the black market on Wednesday. (GBN)
Social Safety Net: 10% of funds should be allocated to old people – Tinubu
Abuja, Oct. 5, 2023 – President Bola Tinubu has directed that 10 percent of money to be shared under the social safety net should be allocated to old persons. Dr Betta Edu, the Minister of Humanitarian Affairs and Poverty Alleviation, said this while speaking during a stakeholders’ meeting to commemorate the 2023 National Day of Older Persons in Nigeria. Rasheed Zubair, the minister’s Spokesman, said this in a statement in Abuja on Thursday. “Mr President has directed that my ministry should set aside 10% of social safety net intervention programmes …
Chapel Hill Denham to list N200bn infrastructure fund on NGX
Lagos, Oct. 4, 2023 – Chapel Hill Denham is to list a N200 billion public infrastructure investment fund on the Nigerian Exchange (NGX). The Exchange, in commemorating the listing, will host a Facts Behind the Listing and Closing Gong Ceremony on Thursday, October 5, 2023. NIDF is the first and only infrastructure debt fund dedicated to and domiciled in Nigeria. It aims to provide investors regular and stable income by making primarily debt investments in infrastructure projects located in Nigeria. Temi Popoola, the Chief Executive of NGX, emphasized the commitment …
Senate confirms fainted ministerial nominee, 2 others
Abuja, Oct. 4, 2023 – The Senate has confirmed the appointment of Abbas Balarabe, the ministerial nominees who fainted while being screened by the Senate on Wednesday. Abbas, who was the second nominee to be screened, collapsed barely 15 minutes into the exercise. The other two are Dr. Jamila Ibrahaim and Ayodele Olawande. His appointment was conformed along with the two others that appeared before the senate for screening. They belong to the second batch of ministers to be appointed by President Bola Tinubu. (GBN)
Court remands Naira Marley, Sam Larry for 21 days
Lagos, Oct. 4, 2023 – A Yaba Magistrates’ Court in Lagos on Wednesday remanded a musician, Azeez Fashola (Naira Marley) and a socialite, Balogun Eletu (Sam Larry) in police custody over the death of another musician, Mohbad. Mohbad died is suspicious circumstances in Lagos in September which raised public condemnation and calls for public investigation into the death. The police in Lagos have exhumed Mohbad’s body to allow for proper investigations, while state government has also set up an inquest into the musician’s death. The magistrate court remanded the two …
Chief justice condemns attacks on judges
Abuja, Oct. 4, 2023 – Olukayode Ariwoola, the Chief Justice of Nigeria, on Wednesday condemned recent attacks on judges by the public for not adjudicating to their wishes. Ariwoola, who swore-in 23 new judges of the federal High Court in Abuja, said public opinions no matter how weighty, could not supersede the provisions of the laws. “Several vitriolic attacks are regularly heaped on the judiciary. It is, however, crystal clear that public opinions, no matter how serious or weighty it might be, cannot override or supersede the Constitution of the …
Ministerial nominee collapses during screening
Abuja, Oct. 4, 2023 – Balarabe Abbas Lawal, a ministerial nominee from Kaduna State, collapsed before Senators on Wednesday during his screening process. President Bola Tinubu, on Tuesday, sent additional three nominees to the Senate for confirmation. Balarabe, who was the second nominee to be screened after Dr Jamila Bio Ibrahim, collapsed barely 15 minutes into his screening. He was revived later, but it is doubtful if the screening was continued as journalists were ordered out of the meeting. (GBN)