Latest Articles
Senate approves Buhari’s request to restructure N22.7tn loan
Abuja, May 3, 2023 – The Senate has approved a request by President Buhari to restructure the N22.7 trillion loans the Central Bank of Nigeria (CBN) extended to the federal government by Ways and Means. The request was sent to the Senate in December 2022. The Senate Leader, Ibrahim Gobir, on Wednesday led the Senate in the debate for the approval of the request, saying part of the loans were given to the states as loans. Gobir said that the Special Committee set up by the Senate to scrutinize the …
World Bank appoints Ajay Banga as president
Washington, May 3, 2023 -The World Bank on Wednesday confirmed the appointment of Ajay Banga as its next president, taking charge at a pivotal time for the development lender as it looks to better address climate change. “The Board looks forward to working with Mr. Banga on the World Bank Group Evolution process,” the bank wrote in a statement published shortly after the board voted to approve his leadership for a five-year term. https://imasdk.googleapis.com/js/core/bridge3.571.0_en.html#goog_1452909798 He will take over the role from David Malpass on June 2. (AFP)
Gov. Obaseki sacks commissioners
Benin, May 3, 2023 – Governor Godwin Obaseki of Edo State has dissolved the State Executive Council. Obaseki announced the dissolution during the weekly Executive Council meeting on Wednesday. He said the dissolution of the council was with immediate effect. A statement by Crusoe Osagie, the Special Advisers (Media Projects) to the Governor, said the governor expressed appreciation to the council members for their service to the government and people of the state. The statement said all Special Assistants and Senior Special Assistants had also been relieved of their appointments. …
EIA Inventory Report fails to arrest oil price slide
By Irina Slav for Oilprice.com New York, May 3, 2023 – Crude oil prices continued lower after the Energy Information Administration reported yet another weekly inventory draw on crude oil inventories. The report came a day after the American Petroleum Institute estimated inventories had shrunk by almost 4 million barrels in the week to April 28. The EIA estimated inventories had shed 1.3 million barrels in the period, which compares with a draw of 5.1 million barrels for the previous week. Whatever the size of the draw, it was unlikely to …
Federal Roads: Tinubu rejects Wike’s request for refund
Port Harcourt, May 3, 2023 – Bola Tinubu, the President-elect, on Wednesday turned down a request for refund for some federal roads reconstructed by the state made by Rivers State Governor, Nyesom Wike, Tinubu, while inaugurating the Rumuokwuta-Rumuola Flyover in Obio/Akpor Local Government Area of Rivers State, had responded tersely: “For the 12th flyover and the demand you made for refund, I owe you nothing. It is your road. “You can’t chuckle at me and make a demand. You are the one living on this road. “I commend your efforts. …
Indomie products: NAFDAC assures Nigerians of safety of their health
Lagos, May 3, 2023 – The National Agency for Foods and Drugs Administration and Control (NAFDAC) has assured Nigerians of safety of their health in spite of the influx of unwholesome foods and drugs. Prof Moji Adeyeye, the Director- General of NAFDAC, gave this assurance against the backdrop of reports of circulation and recall of some implicated Indomie Instant Noodles ‘Special Chicken Flavour’ by Malaysia and Taiwan. Adeyeye said that NAFDAC was aware of the recall of the Indomie products by these two countries on account of the alleged presence …
Prices of food items rise across the country – NBS
Abuja, May 3, 2023 – The National Bureau of Statistics (NBS) has reported that prices of food items such as yam, beans and beef witnessed increases in March. The was reported by the NBS Selected Food Prices Watch Report for March 2023 released in Abuja on Wednesday. The report said the average price of 1kg beef boneless on a year-on-year basis, increased by 25.05 per cent from N1, 982.92 in March 2022 to N2, 479.61 in March 2023. “On a month-on-month basis, 1kg beef boneless increased by 1.38 per cent …
Ugandan minister shot, killed by bodyguard
Lagos, May 2, 2023 – Charles Okello Engola, the Ugandan Minister of State for Labour, Employment and Industrial Relations, was on Tuesday shot and killed by his own bodyguard. Engola was shot at his residence in Kyanja by one of his bodyguards who allegedly fired several shots at close range. He fled from the scene up to the trading centre at Kyanja Ring Road where he entered a salon and also shot himself dead,” police spokesperson, Fred Enanga, told journalists in Kampala. The shooter was identified as Private Wilson Sabiiti. The …
Artificial intelligence expert warns of dangers of the field
Lagos, May 2, 2023 – Geoffrey Hinton, a scientist regarded as the godfather of artificial intelligence (AI), has quit his job at Google over fears of growing dangers from innovations in the field. Hinton announced his resignation in a statement shared with the New York Times on Monday, saying he now regrets his work. In 2012, Hinton and two of his graduate students at the University of Toronto created the technology that became the intellectual foundation for AI systems. Commenting on recent advancements in the field, Hinton said tech companies …
Buhari grants approval to exclude MOFI from TSA
Abuja, May 2, 2023 – President Muhammadu Buhari has granted approval for partial exclusion of the Ministry of Finance Incorporated (MOFI) from the operation of Treasury Single Account (TSA). TSA is the single account where all the federal government’s revenue are kept. Buhari also granted the request of the Board of MOFI to charge management and transaction fees and the inclusion of the minister of power in its Governing Council. He conveyed the approval on Tuesday at the first meeting of the Governing Council of MOFI. Buhari said the new …