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Showing posts with the label nigeria

FEC. Has Finally Put An End To Poverty In Nigeria, Through The Approval Of Annual $5bn Humanitarian, Poverty Alleviation Trust Fund

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 FEC. Has Finally Put An End To Poverty In Nigeria, Through The Approval Of Annual $5bn Humanitarian, Poverty Alleviation Trust Fund T he Federal Executive Council (FEC) approved the establishment of the Humanitarian and Poverty Alleviation Trust Fund to alleviate economic hardship for vulnerable Nigerians. The Minister of Humanitarian Affairs, Betta Edu, announced at the end of the third council meeting, presided over by President Bola Tinubu at the Council Chamber, Presidential Villa, Abuja, that a Humanitarian and Poverty Alleviation Trust Fund has been approved. The fund is expected to generate up to $5 million annually and will be overseen by a governing board.  The board will supervise the fund's implementation, which its members will meticulously work out. Relevant ministers, including the finance minister, will be involved. This flexible form of financing is designed to help Nigeria respond effectively to humanitarian crises and challenges and address the country's pove

NUPRC. Canvasses For African Investors' Involvement In The Operation 3.1 Million Cubic Feet Per Day Gas Deficit By 2030

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  NUPRC canvasses African investors to address a 3.1 million cubic feet per day gas deficit by 2030. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has urged businesses operating in the African oil and gas sector to take advantage of Nigeria's new regulatory and commercial environment. The aim is to halt the projected gas deficit of 3.1 billion cubic feet per day by 2030. Speaking at the Africa Oil Week in Cape Town, South Africa, the CEO of NUPRC, Mr Gbenga Komolafe, stated that opportunities are available for existing investors and new entrants in the Nigerian upstream gas sector. During a presentation at a recent conference, Komolafe discussed the potential for investment opportunities in Nigeria's upstream petroleum sector about the Energy Transition Regime. He highlighted the favourable fiscal incentives outlined in the Petroleum Industry Act (PIA) and encouraged interested investors to take advantage of them.  Komolafe also emphasized Nigeria's potentia

War Of Words, As APC Tackle Obi Over Tinubu

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War Of Words, As APC Tackle Obi Over Tinubu The presidential candidate of the Labour Party in the February 25, 2023, election, Mr. Peter Obi, and the All Progressives Congress, APC, were yesterday locked in a verbal war over the alleged identity controversy of President Bola Tinubu . Obi had asked President Tinubu to save Nigeria and Nigerians further embarrassment by clearing the air on his identity, but the APC insisted the President had no identity crisis. This  came as the British Broadcasting Corporation, BBC, said there was no evidence to show that Tinubu submitted a forged certificate to the Independent National Electoral Commission, INEC. However, In a swift response, Atiku described the BBC report as a jaundiced and hatchet job. Speaking at a briefing in Abuja yesterday, Obi noted that he, like many other Nigerians, had to answer embarrassing questions about the genuineness of the President’s academic credentials, especially his Chicago State University, CSU, certificate. Acco

Cardoso Vows To Boost GDP to $1trn in 8 Years’ As A CBN Governor

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 Cardoso Vows To Boost GDP to $1trn in 8 Years' As A CBN Governor. The newly confirmed Central Bank of Nigeria, CBN, Governor, Dr. Olayemi Cardoso, has disclosed plans to shore up the country's Gross Domestic Product, GDP, to $1 trillion in eight years. Cardoso spoke while answering questions from senators during his screening and confirmation as the apex bank governor.  He assured the ratified board would adopt several strategies to repair the economy, including short-term and medium-term goals. According to him, to achieve stability in Nigeria's exchange rate, measures must be put in place to ensure a healthy balance of payment and diversification of the economy. "When you look at the dimension of inflation, we will be doing evidence-based monetary policy. We shall not be making decisions based on a whim. "We will significantly rebound the infrastructural demand concerning ensuring that our data gathering capacity is enhanced so we can make decisions based on pr

Coup-Burkina Faso and Mali have joined forces with Niger, potentially leading to conflict.

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Burkina Faso and Mali, On Monday, a warning was issued against military intervention in Niger, which has been hit by a coup. The notice stated that such intervention would be equivalent to starting a war in the West African region. According to reports, the warning was issued in a joint statement by two countries governed by military-backed regimes. This warning was in response to a threat from West African leaders. It's important to remember that during an emergency meeting in Abuja, Nigeria, the Economic Community of West African States (ECOWAS) leadership discussed the successful coup in Niger last week. Chaired by President Bola Tinubu, ECOWAS threatened military action against the junta and gave them a seven-day ultimatum to reinstate captive President Mohamed Bazoum. Failure to comply would result in sanctions. In response to a perceived threat, Burkina Faso and Mali issued a statement on their national broadcasts on Monday night. They urged West African leaders to refrain fr

Mecca: 95,000 Nigerians airlifted to Saudi to perform hajj

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The Companion, a group consisting of Muslim men engaged in various activities, has expressed their appreciation to the National Hajj Commission of Nigeria (NACHON) for successfully completing the transportation of all registered pilgrims to perform the 1444 AH (2023) hajj before the closure of Saudi Arabia airspace. A Muslim group has expressed their appreciation for the successful airlift of 95,000 Nigerian pilgrims by the National Hajj Commission of Nigeria (NAHCON). Despite facing challenges during the operations, the group commended NAHCON's proactive approach and commitment to meeting the deadline. They praised the chairman, Zikrullah Hassan, for his leadership and the reforms he brought to hajj management, making Nigeria a role model in the industry. The group, known as the Companion, urged Nigerian pilgrims to be good representatives and pray for the commission and the country during their pilgrimage to Mina. NAN

Here Is The List Of Over 40 Military Generals That Are Compulsory Retired According To Military Tradition.

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  Following the appointment of new  Service Chiefes   by President Bola Ahmed Tinubu, dozens of military top brass will have to exit service due to traditional command and control practice. President Bola Ahmed Tinubu has taken action by approving the immediate retirement of all service chiefs, advisers, comptroller-general of customs, and the inspector-general of police, with immediate effect. The retired Service Chiefs include General Lucky Irabor, Chief of Defence Staff; Lt. Gen. Faruk Yahaya, Chief of Army Staff; Vice Admiral Awwal Gambo, Chief of Naval Staff; and Air Marshal Isiaka Amao, Chief of Air Staff. In their place, Maj. Gen. C.G. Musa has been appointed as the new Chief of Defence Staff, Maj. T. A Lagbaja as Chief of Army Staff, Rear Admiral E. A . Ogalla as Chief of Naval Staff, and AVM H.B. Abubakar as Chief of Air Staff. DIG Kayode Egbetokun has also been appointed as the acting Inspector-General of Police, and Maj. Gen. EPA Undiandeye as Chief of Defence Intelligence.

Congratulatory Message To NACABS POLYTHECNIC 2022/23 Matriculating Students

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 Dear matriculating students of NACABS POLYTECHNIC Akwanga, We would like to extend our warmest congratulations on your matriculation into the school for the 2022/23 academic year. This is a significant milestone in your educational journey, and we are confident that you will make the most of the opportunities available.  Matriculating students at NACABS POLYTECHNIC Akwanga. We also want to commend the school management and the authorities for their commitment to academic excellence despite the challenges of running an education system primarily based on scholarships. It is truly remarkable that for the past twenty years, NACABS POLYTECHNIC Akwanga for providing access to higher education to the downtrodden and the less privileged and still maintains high academic standards. As you embark on your academic journey at NACABS POLYTECHNIC Akwanga, we encourage you to take advantage of the resources available, including the dedicated faculty, well-equipped facilities, and supportive communi

Naira Continuous Weakness Has Finally Brought It to N760/$ at black market

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    As the inauguration approaches, demand for the dollar is on the rise, along with big-ticket purchases. To help readers fully comprehend the situation and make informed financial decisions, it would be beneficial to clarify the sources of the surge in demand for foreign exchange and explain why the naira can no longer resist the dollar. Additionally, providing more context on past governors and lawmakers who have fled the country with illegally obtained funds would emphasize the need for anti-corruption measures. It is crucial to explore the long-term effects of the current surge in foreign exchange demand and its potential implications for the Nigerian economy. As for recent developments, the naira has dropped to N760/$, losing its long-standing N750/$ resistance, which has gained attention due to the upcoming regime change. The market may have started pricing in uncertainty risk that comes with a change of national economic managers. Some dealers said yesterday that there has been

An Open Letter To Distinguish Senator Godswill Akpabio

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  Dear Senator Godswill Akpabio, I am writing to congratulate you on your nomination as a contender for the position of Senate President. Your uncommon stride regime has earned you respect and admiration among many Nigerians, and a recent survey and comparison with other contenders have proven that you are the best amongst equals. However, some still point towards corruption and unethical practices, which can undermine your image and the trust people have in you. Please use this opportunity to rebuild your uncommon image and prove to Nigerians that you are a person of integrity. As you enter this new career phase, I encourage you to remember that the truth will always rule fallacy and that goodwill will always rule evil. You are highly expected to use this opportunity to demonstrate your commitment to serving the people selflessly and with integrity. It is essential to prove that the cases of corruption about you are the handwork of the enemy. You can do this by ensuring you conduct yo

10th NASS: Akpabio Senate Presidency Is Not Yet Settled, As Opposition Members Gang Up

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  After weeks of intrigues, the National Working Committee, NWC, of the ruling All Progressives Congress, APC, finally announced that it had zoned the position of the Senate President to the South-South and the Speaker of the House of Representatives to the Northwest for the forthcoming 10th National Assembly. The National Publicity Secretary of the APC, Felix Morka, confirmed the arrangement in a press briefing at the end of the Party's NEC meeting held at its national secretariat in Abuja. The Party also said it zoned the position of Deputy Senate President to the Northwest and Deputy Speaker to the Southeast.  Adopting a zoning template of candidates by its President-elect, Asiwaju Bola Tinubu, APC settled for Senators Godswill Akpabio and Barau Jubrin for the Senate leadership and Messrs Abass Tajudeen and Ben Kalu for the House of Representatives leadership. "The NWC noted with respect the outcome of the meetings held between the President-elect and the leadership of the