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NLC Strike: NEC holds crucial meeting
Abuja, Sept. 28, 2023 – The National Economic Council (NEC) is holding a crucial meeting today, Thursday, at the Presidential Villa in Abuja. The meeting, being presided over by Vice President, Kashim Shettima, is holding ahead of the planned nationwide strike by the Nigeria Labour Congress (NLC). Sources said the nationwide strike and issues surrounding the palliatives are top on the agenda of the meeting. The meeting is being attended by the 36 state governors, the Minister of Budget and National Planning, Atiku Bagudu as well as the Minister of …
Marketers advise FG to check rising price of cooking gas
Ibadan, Aug. 28, 2023 -The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) has appealed to the Federal Government to find a lasting solution to the rising price of cooking gas in the country. Mr Abideen Olatunbosun, its National President, made the appeal during the 36th Annual General Meeting of the association in Ibadan. He said gas might no longer be affordable to ordinary Nigerians if the rising gas prices are not addressed, “It is very vital for me to state that continuous increase in the price of gas in …
Oil prices edge higher on US crude draw, tight global supply
London, Sept. 28, 2023 – U.S. oil futures jumped to their highest in more than a year on Thursday as a drop in crude stocks in the United States added to worries over tight global supplies from OPEC+ output cuts. By 0828 GMT, Brent crude futures were up 36 cents to $96.91 a barrel after rising to the highest since November earlier in the session. U.S. West Texas Intermediate crude futures (WTI) were up 24 cents at $93.92 a barrel, after rising above $95 earlier in the session for the …
NNPC $3bn Loan: Afreximbank works out terms for exchange
Cairo, Sept. 28, 2023 – Afreximbank is working out terms to give out crude oil from the Nigerian National Petroleum Company Limited (NNPCL) to trading houses. NNPCL, had in August, taken a $3 billion loan from Afreximbank to be repaid in crude oil. The bank is tapping oil traders to finance a much-needed $3 billion loan to the company to help shore up the sliding naira currency, three sources told Reuters. Afreximbank approached traders in recent weeks seeking their interest in funding the oil-backed loan to state oil company NNPC …
Niger Coup: France ambassador to Niger arrives home
Paris, Sept. 28, 2023 – France’s ambassador to Niger has landed in Paris after weeks of tensions with the new military government in the West African country that demanded his expulsion following the overthrow of democratically-elected leader President Mohamed Bazoum. French Foreign Minister Catherine Colonna met Sylvain Itte “to thank him and his teams for his work in the service of our country under difficult conditions”, the ministry said in a written statement to AFP news agency. Niger’s military leaders, who had told Itte to leave the country after they overthrew …
France and the proverbial humble pie in Niger
*By Paul Ejime Lagos, Sept. 28, 2023 – After weeks of condescending defiance, France has ultimately eaten a diplomatic humble pie served by a former colony. Paris’ Ambassador to Niger was whisked away from Niamey in the wee hours of Thursday 27 September, two months after President Mohamed Bazoum, a French ally was toppled in a military coup led by Brig.-Gen Abdourahamane Tchiani on 26 July 2023. The junta had on Aug. 28 ordered Ambassador Silvain Itte to leave Niger within 48 hours, accusing him of refusing to honour an …
FG denies reports on Oct. 1 announcement of palliatives
Abuja, Sept. 28, 2023 – The Federal Ministry of Labour and Employment has denied reports that President Bola will announce wage awards and other palliatives as part of his independence anniversary broadcast on Oct. 1. Olajide Oshundun, the Director of Information in the ministry, described the report as false and not emanating from his ministry. He said, in a statement, that the report was an imagination of the writer. “We wish to categorically state that the report is false and misleading as at no time did the Director of Information …
Police declare woman wanted for killing husband with pestle
Akure, Sept. 27, 2023 – The Ondo State Police Command has declared a woman, Tayelolu Solomon, wanted for allegedly killing her husband with a pestle. According to the command, the woman allegedly hit the husband on the head with a pestle while he was sleeping last Saturday. Funmilayo Odunlami, the Command’s Spokesperson, said the incident happened on Saturday when the couple had a fight. “The suspect is currently at large. We are already on her trail,” the Ibukun, their son, who witnessed the incident, confirmed to the police that his …
Nigeria loses bid to co-host 2027 African Cup of Nations
Cairo, Sept. 27, 2023 – Nigeria has lost her bid to co-host the 2027 CAF African Cup of Nations. Nigeria and Benin Republic bided to host the competition, but lost to the East African neigbours of Kenya, Ugandan and Tanzania. Nigeria hosted the competition last in 1980 when Christian Chukwu led the team to victory. East Africa also hosted the competition last in 1976. Morocco was picked to host the 2025 edition as expected The decisions were taken during the meeting of the CAF Executive Committee on Wednesday. Patrice Motsepe, …
Oil surges more than $1 as tight supply dominates
London, Sept 27, 2023 – Oil prices surged more than $1 on Wednesday as markets focused on low global supply in the run-up to winter, throttled by OPEC+ production cuts. Brent crude futures broached $95, up $1.55 to $95.51 a barrel by 1342 GMT. U.S. West Texas Intermediate (WTI) crude futures climbed $1.82 to $92.21. “Until a decision to raise production is made, the global energy market will remain tight, and during this time the risk of a major correction still is relatively low,” Ole Hansen, Head of Commodity Strategy …