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As we stand at the dawn of a new year, our hearts brim with hope and anticipation for what 2025 holds. The greeting of New Year’s Day encapsulates a universal wish for new beginnings, a sentiment that resonates deeply with us as Nigerians. After a tumultuous 2024, marked by political upheaval and economic hardship, many of us yearn for a fresh start and a renewed sense of purpose. The past year has been nothing short of challenging. The soaring cost of fuel, skyrocketing food prices, and the disheartening conduct of our political elite have compounded the struggles faced by countless Nigerians. As our nation approaches its 65th anniversary of self-rule, we reflect on the need for a transformation a desire for a new lease of life that transcends mere wishful thinking. Yet, let us remember that years do not determine our fortune or misfortune. Instead, it is our actions or lack thereof that shape our collective destiny. The events of 2024 are a stark reminder that we have the power to influence our present and future through conscious choices. As we embrace the new year, it is crucial to view this moment as an opportunity to rethink our strategies and adopt new ways of doing things. We must confront the uncomfortable truth: as Nigerians, we have no excuse for the circumstances we currently endure. Our nation, rich in resources and potential, has suffered under the weight of mismanagement and poor governance. It is vital that we acknowledge this reality with honesty and humility. Our leaders have often conducted themselves with a sense of entitlement and impunity, seemingly detached from the plight of the citizens they serve. However, we must not lose sight of the fact that change is possible. While it may seem daunting to convince those in power to mend their ways, we must build a collective resolve to demand accountability and transparency. The incentive for this much needed transformation lies within us. It is our responsibility to cultivate an environment where good governance flourishes and where the voices of the people are heard and respected. In 2025, let us commit to being active participants in the shaping of our nation’s future. This requires us to engage in constructive dialogue, advocate for our rights, and hold our leaders accountable. Each one of us can contribute to a culture of integrity and responsibility, whether through grassroots movements, civic engagement, or simply by making informed choices in our daily lives. As we step into this new year, let us also remember the power of unity. Together, we can address the flaws that have hindered our progress. We can create a Nigeria where leadership is defined by service, where resources are used for the common good, and where every citizen has the opportunity to thrive. The year 2025 is not just another calendar year; it is a chance for renewal, a call to action, and an invitation to build a brighter future for ourselves and generations to come. Let us embrace this opportunity with open hearts and determined spirits. Wishing you all a transformative and fulfilling 2025! |
Senate President Godswill Akpabio has lauded President Bola Tinubu’s infrastructure drive, which he says has changed the nation’s capital and various urban areas in the nation. Akpabio said this during the president’s 2025 budget presentation to a joint session of the National Assembly (NASS). The legislator listed the Coastal Road which runs from Lagos State to Calabar in Cross Rivers as part of the administration’s projects which he said has expanded network in Nigeria. “Notably, your infrastructure renaissance has paved the way for many roads, including the Coastal Road and crucial arteries in Abuja Capital City, imagine Abuja now looking almost like London, and other parts of our country,” the Senate president said. “These developments are not merely about concrete and asphalt; they represent the lifeblood of our economy, connecting our people and fostering growth.” Akpabio likewise raised worries about ministers and other government appointees evading the invitation of the NASS when called. He remarked such a behaviour is inappropriate. “Those who disregard invitation by the National Assembly are not democratic and therefore have no place in your government,” Akpabio told Tinubu before a full house of members of the Senate and the House of Representatives. Akpabio re-stated the necessity for the ministers and other government appointees to speedily honour invitations of the NASS to give an account of their stewardship. He threatened to use the legislators’ “Constitutional powers to take further actions” against ministers, and others, who neglect to honour NASS invitations. Tinubu presented a N49.7 trillion Budget Proposal presented before a joint session of the NASS. Security and defence, infrastructure, health, and education were a few of the sectors with high allocations in the budget proposal. The President listed some of the highlights of the budget as defence and security – N4.91 trillion, infrastructure – N4.06 trillion, health – N2.4 trillion, and education – N3.5 trillion, among others.
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Security and defence, infrastructure, health and education were a few of the sectors with high allocations in the N49.7 trillion Budget Proposal presented by President Bola Tinubu before a joint session of the National Assembly (NASS). “It is with great pleasure that I lay before this distinguished joint session of the National Assembly, the 2025 Budget of Nigeria titled, ‘The Restoration Budget’ securing peace, building prosperity,” Tinubu completed his 30-minute speech at 1:10pm on Wednesday. Prior to his presentation, the President outlined a few of the budget as defence and security – N4.91 trillion, infrastructure – N4.06 trillion, health – N2.4 trillion, education – N3.5 trillion, among others. “The 2025 budget seeks to restore macroeconomic stability enhance the business environment, foster inclusive growth, employment and poverty reduction, promote equitable income distribution and human capital development,” Tinubu said. “In 2025, we are targeting N34.8tn in revenue to fund the budget. Government expenditure in the same year is projected to be N49.7 trillion, including N15.81 trillion for debt servicing. “A total of N13.0tn or 3.89% of GDP will make up the budget deficit. This is an ambitious but necessary budget to secure our future. “The budget project’s inflation will decline from the current rate of 34.6% to 15% next year (2025) while the exchange rate will improve from approximately N1,700 per dollar to N1,500 per dollar.” Tinubu’s 2025 N49.7 trillion budget proposal was about N20 trillion higher than that of 2024. In December 2023, Tinubu presented the 2024 budget proposal of N27.5 trillion, his first, before the NASS. The Senate expanded the bill by N1.2 trillion and endorsed N28.7 trillion for the 2024 Budget. ‘Reforms Yielding Outcomes, No Inversions’ For the 2025 budget, the President fixed crude oil production at 2.06 million barrels per day (bdp) for 2025. He additionally projected that the importation of finished petroleum-based commodities would diminish in 2025 while the exportation of refined oil-based commodities would increase. He communicated commitment to financial renewal, thanking all Nigerians for setting out on the journey of change and transformation over the most recent year and a half together. The President said the economy is responding to improvement and that his administration would keep on taking the right steps for monetary advancement. “The reforms yielding results, no reversals,” he said. Tinubu zeroed in on the fact that food security is non-negotiable, adding that the government is making moves to ensure Nigerians feed and not head to bed hungry. Call For Action Tinubu said, “Our 2025 is not just another statement of projected government revenue and expenditure; it is one that calls for action. “Our nation faces existential threat from corruption and insecurity. These challenges are surmountable when we work collaboratively. We must re-write the narrative of this nation. “The time for lamentation is over. The time to act is now.” Tinubu was accompanied to the budget presentation by the Secretary to the Government of the Federation (SGF), George Akume; and the Chief of Staff to the President, Femi Gbajabiamila; among other top government officials.
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President Bola Tinubu has honored to his predecessor Muhammadu Buhari on his 82nd birthday and said his government will keep on expanding on the last’s heritage. Tinubu portrayed Buhari whom he assumed control over the reins of office in 2023 as a dogged person who rouses others never to give up on their dreams. “Your doggedness and resilience in contesting presidential elections in 2003, 2007, and 2011 before winning them in 2015 and 2019 also inspire us never to give up,” President Tinubu said in a personal proclamationhe issued on Tuesday. “I will continue to build on the infrastructure legacy you bequeathed to our nation as the leader of our country’s first All Progressives Congress (APC) administration.” President Tinubu added Tinubu said Buhari’s birthday is an opportunity to consider the Katsina-born ex-president’s “years of dedicated service and leadership, which have essentially formed the course of our nation. “Your unflinching commitment to Nigeria’s advancement and unity inspires many, and your enduring legacy continues to direct our nation’s journey toward prosperity and stability.” “On this special day, may you be surrounded by the love of your family and friends and continue to enjoy good health, happiness, and fulfilment in all your undertakings, now and in the future,” Tinubu expressed. “Happy Birthday, and thank you for your services to Nigeria.” Buhari handed power over to Tinubu in May 2023 after spending eight years in power. Both are of the ruling All Progressives Congress (APC) that finished the rule of the Peoples Democratic Party (PDP) which started in 1999.
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The African Development Bank (AfDB) has partnered with the Project Management Institute (PMI) to train and certify 200 staff members in advanced project management. This initiative aims to enhance the Bank’s efficiency in executing development projects across Africa. The African Development Bank (AfDB) is leveraging this partnership to enhance its project management expertise, aiming to foster a culture of excellence and efficiency in project execution. By equipping an initial group of trained professionals, the Bank is laying the groundwork for more effective implementation of initiatives. This approach has the potential to significantly boost the success and impact of transformative projects across the continent if scaled further. According to a statement, Robust project management is critical for navigating the complexities of the Bank’s priority areas, mitigating risks, and maximizing project outcomes”. It further noted that this initiative supports AfDB’s mission to help regional member countries achieve sustainable development goals. The partnership with PMI will offer customized training tailored to the Bank’s operational needs. Additionally, participating employees will receive PMI membership, granting access to a global network, tools, and resources. Those who complete the program will earn the prestigious Project Management Professional certification, widely recognized as the gold standard in the field. George Asamani, MD of Sub-Saharan Africa at PMI, stated, “As the project management landscape evolves rapidly, partnering with PMI enables the Bank to access the latest methodologies, including PMI’s advancements in AI-driven project management tools. This collaboration places the AfDB at the forefront of best practices, empowering teams to tackle complex, large-scale projects with enhanced adaptability, agility, and the assurance of delivering measurable outcomes aligned with the Bank’s ambitious development goals.” He also noted that PMI will provide a tailored training program to address AfDB’s specific operational needs, beginning with PMI membership for 200 employees. This membership grants access to PMI’s global network, resources, tools, and industry insights, fostering professional growth and creating connections within the broader project management community. Under the leadership of Dr. Akinwumi Adesina, President of AfDB, the Bank has focused on building internal capacity to ensure successful project delivery. His strong advocacy for enhancing project management skills has shaped the Bank’s approach to addressing development challenges. This partnership with PMI underscores his commitment to equipping teams with the necessary expertise to implement transformative projects that foster sustainable growth across Africa.
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The National Bureau of Statistics (NBS) reports that Nigeria’s headline inflation rate increased to 34.60% in November 2024, up from 33.88% in October. This represents a month-on-month rise of 0.72%. On a year-on-year basis, the inflation rate surged by 6.40%, compared to 28.20% recorded in November 2023. The NBS revealed this in its November Consumer Price Index (CPI) and Inflation Report published in Abuja. Rising costs across various sectors have been identified as the main factors driving the increase in headline inflation. Key contributors include food and non-alcoholic beverages, housing, water, electricity, gas, clothing, transport, education, health, and other goods and services. Food prices, in particular, continue to surge, placing a significant strain on Nigerian households and their purchasing power. The average CPI for the 12 months ending November 2024 rose to 32.77%, marking an 8.76% increase from 24.01% in November 2023. Food inflation in Nigeria reached 39.93% in November 2024 on a year-on-year basis, rising from 32.84% recorded in November 2023. This surge has been linked to significant price increases in staple items such as yam, rice, maize, palm oil, and other essential foods, alongside vegetable oil, fats, and processed products. Additional commodities, including guinea corn, millet, and meat, have also experienced notable price hikes, further contributing to the inflationary trend. On a month-on-month basis, food inflation edged up slightly to 2.98% in November, compared to 2.94% in October. This increase is largely attributed to rising costs of fish, rice, dairy products, and meat. The twelve-month average food inflation rate for the period ending November 2024 stands at 38.67%, marking an 11.58 percentage point increase from the 27.09% recorded during the same period in the previous year. These rising food prices continue to place significant financial pressure on Nigerian households. Core inflation, which excludes energy and agricultural produce, rose to 28.75% in November 2024, up from 22.38% a year earlier. The increase was driven by higher costs in sectors such as transportation, housing, and personal services, with significant rises in taxi and bus fares, rents, and personal grooming expenses. Urban inflation reached 37.10% in November 2024, compared to 30.21% in November 2023, while rural inflation climbed to 32.27% from 26.43% in the same period. On a monthly basis, urban inflation grew by 2.77%, and rural inflation increased by 2.51%, underscoring the growing strain on household budgets nationwide. The steady rise in inflation reflects ongoing challenges for Nigerian consumers and businesses, as the cost of living continues to escalate with no relief in sight.
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The Federal Government of Nigeria, through the Ministry of Agriculture and Food Security, has obtained over $600 million in foreign loans to enhance food security and rural development in 2024. The Ministry of Agriculture and Food Security states that a $134 million loan from the African Development Bank will support seed and grain production nationwide. Additionally, $500 million from the World Bank, provided through the Rural Access and Agricultural Marketing Project, brings the total funding to $634 million. The initiative is designed to connect rural communities with larger markets, enhancing access to agricultural hubs, schools, and hospitals. It aims to drive social and economic development in rural areas. RAAMP National Coordinator, Aminu Mohammed, emphasized that the project focuses on improving rural roads and trading infrastructure to support increased food production. The project, now operational in 19 states, plans to distribute funds based on criteria such as socioeconomic indicators, implementation readiness, and state co-financing commitments. It also aims to enhance women’s participation in the transport sector by establishing Rural Access Road Authorities. The upcoming phase of RAAMP will include a $500 million investment from the World Bank, supplemented by $100 million in counterpart funding from federal and state governments. The Federal Government’s agricultural initiatives, including mechanization, irrigation, and funding support, have faced criticism from farmers across Nigeria. Many believe these programs are selective and poorly executed, primarily benefiting well-connected individuals while neglecting smallholder farmers, who are the backbone of the nation’s agricultural sector.
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Former Kano State Lead Representative, Ibrahim Shekarau, has approached on the Federal Government to return to the planning phase in governing the masses. Shekarau, said the recent #EndBadGovernance protest was a clear message to President Bola Tinubu’s administration. “The last protests on the end of bad governance is a clear message. The tumult was not a regional, state affair. It was a national matter. I think it’s an extremely clear message to the President Tinubu and the Federal Government. “Nigerians are saying ‘please go back to the drawing board and reassess what you are giving us,” Shekarau mentioned. Nigerians began a 10-day #EndBadGovernance protest on 1st through 10th August. They rioted to demand economic and political reforms, including the inversion of some government policies. Policies like the removal of petrol subsidies and the floating of the naira have prompted Nigeria’s worst cost-of-living crisis in a generation as prices of goods and services dramatically increased. The protests at first started calmly however later turned fierce in some states like Kano, Kaduna and Sokoto, leading to deaths and annihilation of property. He additionally said something regarding assumptions for the 2027 general elections, saying emphasis should not be put on where the next president would come from. He contended that Nigerians should zero in on good governance, asking political parties to field candidates who are credible. The former Lead representative didn’t specify if he supports a southern presidency or power rotation to the northern region. “All the parties should come up with their planning in a situation whereby they make the best of choices. But for Nigerians now to decide, our concern is that let look at the candidates produced by the parties. “Our challenge is that all the parties should give Nigerians correct candidates so we have the best to choose from. But if you give us all evils, we will choose the best from the evils,” he expressed.
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The National Economic Council (NEC) has gotten position reports on the establishment of State police from the 36 state chief executives. The NEC meeting was led by Vice President Kashim Shettima and attended by state chief executives, deputy chief executives, ministers and a few presidential aides. Briefing State House Correspondents soon after the meeting which went on for over 4 hours, Lead Representative Uba Sani of Kaduna State said the state chief executives displayed an overwhelming support for the establishment of state police in light of the security challenges tormenting their states. Be that as it may, he said the NEC deferred deliberation on the matter to January 2024. “Virtually every state has its own peculiar security challenges, and many agree that state police is the way forward,” Sani stated. “Today, the council decided to step down the discussion until the next meeting to allow for further deliberation and the presentation of a report from the NEC secretariat.” The chief executive underscored the pressing need for advanced security measures, referring to ungoverned spaces across the nation and a critical lack of personnel in federal security agencies, including the police and armed forces. “The establishment of state police will help address these gaps, particularly in states grappling with unique security issues,” he said. He likewise disclosed that the secretariat has focused on engaging stakeholders further before the council’s January meeting, where a comprehensive report will be presented. On the issue of flooding, the National Economic Council endorsed the disbursement of more funds to state governments where recent flood disasters had ravaged communities, leading to loss of lives and properties. NEC said the endorsement would empower the affected states to provide adequate financial supports to the victims. In the meantime, the NEC has also endorsed 0.05% of non-oil federation revenue as funding for the Revenue Mobilization, Allocation, and Fiscal Commission (RMAFC). Declaring the resolution after Thursday’s meeting, Anambra State Chief Executive, Chukwuma Soludo, expressed that the decision followed a report presented by RMAFC on November 21, which featured funding difficulties faced by the commission. “RMAFC plays a vital role in ensuring equitable revenue allocation across the federation, but it has been operating under significant financial constraints,” Governor Soludo explained. The council reviewed RMAFC’s proposal for 0.75% of non-oil assets, however endorsed 0.05%, subject to additional examination by the National Assembly. This allotment is important for more extensive tax reforms currently under consideration. In addition to the funding approval, NEC directed RMAFC to submit a draft repeal-and-replace bill to the National Assembly to modernize its overseeing legislation and align it with the developing financial realities of the nation. Lead Representative Soludo emphasized the importance of these measures, noting, “This institution carries critical responsibilities in the functioning of our federation. “Adequate funding and an updated legal framework are essential to empower RMAFC to meet its obligations effectively.”
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Kano State Chief Executive, Abba Yusuf, has rejigged his cabinet, scrapped the Chief of Staff (CoS) portfolio, and ejected the Secretary to the State Government (SSG), Abdullahi Bichi. The announcement was made during a press briefing by the Chief Executive’s spokesperson, Sanusi Bature Dawakin-Tofa, on Thursday. As indicated by the statement, the reshuffle is part of Lead Representative Yusuf’s technique to realign his administration for “optimum performance” and convey “more dividends of democracy” to the people of Kano State. “This is the first major reshuffle of my cabinet, and it takes immediate effect,” Lead Representative Yusuf stated. “The decision was made to enhance administrative performance and ensure a pragmatic political realignment that prioritizes the needs of Kano residents.” The purge saw the ejection of the Chief of Staff, Shehu Sagagi, whose office has been abolished. Abdullahi Baffa Bichi, the SSG, was likewise dropped, allegedly due to health concerns. Reassigned Portfolios The reshuffle impacted several key ministries, with a few commissioners holding their positions while others were reassigned. Among those retained are: – Barr. Haruna Isa Dederi, Attorney General and Commissioner for Justice – Dr. Danjuma Mahmoud, Commissioner for Agriculture – Dr. Abubakar Labaran, Commissioner for Health – Engr. Marwan Ahmad, Commissioner for Works and Housing Significant reassignments include Deputy Chief Executive Comrade Aminu Abdulssalam, who moves from the Ministry of Local Government to the Ministry of Higher Education. Hon. Mohammad Tajo Usman takes over Local Government and Chieftaincy Affairs, while Dr. Yusuf Ibrahim Kofar Mata moves from Higher Education to Science, Technology, and Innovation. Hon. Amina Abdullahi, previously overseeing Humanitarian and Poverty Alleviation, now heads the Ministry for Women, Children, and Persons with Disabilities. Honourable Aisha Lawal Saji transitions from the same ministry to Tourism and Culture. Five Commissioners Dropped The reshuffle also saw the removal of five commissioners: – Ibrahim Jibril Fagge, Ministry of Finance – Ladidi Ibrahim Garko, Ministry of Culture and Tourism – Baba Halilu Dantiye, Ministry of Information and Internal Affairs – Shehu Aliyu Yammedi, Ministry of Special Duties – Abbas Sani Abbas, Ministry of Rural and Community Development The Chief Executive directed these former officials, alongside the former Chief of Staff, to answer to his office for conceivable reassignment. Tending to journalists, Sanusi Bature Dawakin-Tofa stressed the Chief Executive’s obligation to improving governance. “This reshuffle reflects His Excellency’s resolve to ensure that his team is equipped to meet the aspirations of Kano people. Some members have been reassigned to areas where their expertise is needed most,” he said. Political experts view the move as a striking endeavour to retool the administration for the difficulties ahead. Musa Bello, a public affairs commentator, depicted it as “a strategic step to weed out inefficiency and inject fresh energy into the cabinet.”
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Nigeria’s oil output hit 1.69 million barrels per day (mbpd) in November, the highest level in 44 months. This increase is attributed to enhanced production efforts, with the addition of condensates boosting output from 1.53 mbpd in October. The latest data from the Nigerian Upstream Petroleum Regulatory Commission, a Federal Government agency, shows that liquid crude oil production increased by 11.42%, reaching 1.48 million barrels per day in November, compared to 1.33 million barrels per day in October. Nigeria remains Africa’s largest oil producer, despite challenges like oil theft and infrastructure issues affecting production. The latest figures highlight ongoing efforts to stabilize and improve the country’s oil sector, even amid fluctuating global prices. While oil production has improved, it still falls short of the 2024 budget target of 1.78 million barrels per day (mbpd), even though the Nigerian National Petroleum Company Limited reports a rise to 1.8 mbpd. The data highlights the continued challenges in meeting national production targets, while also emphasizing recent efforts to boost output in the upstream sector. The Minister of State for Petroleum Resources, Heineken Lokpobiri, has commented on Nigeria’s oil production quota, stating that OPEC’s decision to extend the country’s quota to 1.5 million barrels per day (bpd) aligns with Nigeria’s output target. Lokpobiri noted that this quota is in line with the nation’s 2025 production goal of 2.06 million bpd, including condensates, as outlined in the draft 2025 Appropriation Bill. The Organization of the Petroleum Exporting Countries (OPEC) has confirmed that Nigeria remains Africa’s largest oil producer. In its latest report, OPEC revealed that Nigeria’s oil output rose to 1.48 million barrels per day (bpd) in November, up from 1.33 million bpd in October. The oil alliance highlighted that this production level made Nigeria the top producer in Africa, surpassing Algeria, which produced 908,000 bpd, and Congo, with an output of 268,000 bpd. OPEC stated that its data, based on direct communication, showed Nigeria’s crude production increased to 1.417 million barrels per day (bpd) in November, up from 1.4 million bpd in October. The Nigerian Upstream Petroleum Regulatory Commission also reported that Nigeria’s crude oil production rose to 1.69 million bpd in November, up from 1.53 million bpd in October.
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A bill to amend the Corrupt Practices and Other Related Offences Act, 2000 to accommodate necessary counselling and training for convicts of corruption-related offences has scaled second reading in the Green Chamber. The bill was supported by Hon. Akiolu Moshood Kayode, addressing Lagos Island. Driving the discussion during plenary on Wednesday, Kayode said the bill seeks to revise Section 67 of the Principal Act by expanding it with extra three provisions which specify that magistrates and judges shall not just sentence convicts of corruption-related offences to imprisonment and/or fines however will likewise force on them a mandatory time of counselling and training. Speaking on the overall standards of the bill, Kayode explained that the mandatory anti-corruption counselling and training of persons convicted of corruption-related offences are in acknowledgment of the strong connection that exists between mental disposition and the crude accumulation of wealth. The Green Chamber additionally made plans to investigate alleged smuggling activities by personnel of the Nigeria Customs Service (NCS). The Chamber took the decision at a plenary session following the reception of a motion of urgent public significance sponsored by the member representing Badagry Federal Constituency, Lagos State, Oluwaseun Whingan. Whingan referred to an occurrence involving a journalist in Badagry, Lagos state earlier this month who was attacked while attempting to make video recording of activities at a location he depicted as a “smuggling zone. The legislator who moved the motion caused a commotion over the way of behaving of the Customs officers. In addition to other things, he called for the investigation of the Nigerian Customs Service’s legal framework and the activities of officers of the agency while carrying out their duties The motion has anyway been alluded to the Committee on Customs and Excise.
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The federal government of Nigeria is set to receive a $500 million loan from the World Bank to finance the Human Capital Opportunities for Prosperity and Equity (HOPE) project.The initiative aims to boost the availability and financing of basic education and primary healthcare across Nigerian states, while also improving transparency, accountability, and the management of teacher recruitment and performance. The Minister of Budget and Economic Planning, Abubakar Atiku Bagudu, made this announcement during a courtesy visit from the International Monetary Fund (IMF) Mission Chief for Nigeria, Axel Schimmelpfennig. During the meeting, Bagudu commended the World Bank for its continued support, while highlighting the legal framework that supports Nigeria’s budgeting process. He pointed out that Chapter 5, Part 2, Section 122 of the Nigerian Constitution permits both federal and state governments to make expenditures for up to six months into a new fiscal year, pending the passage of a new budget. Bagudu also discussed the ongoing economic reforms under President Bola Ahmed Tinubu’s administration. He explained that these reforms are focused on developing and implementing monetary and tax policies designed to create a more efficient and functional Public Financial Management (PFM) system. He says, “The economic reforms are necessary decisions to put the Nigerian economy on the right track”. He assured the IMF team that despite the challenges Nigeria is facing, including fuel subsidy removal, foreign exchange floating, and electricity reforms, the country is on track for economic recovery. He expressed gratitude for the IMF’s support and urged for greater assistance in resource mobilization from international partners to help develop all sectors of the economy. Schimmelpfennig stated that his visit was part of the IMF’s assessment of Nigeria’s budgeting process, focusing on the concurrent implementation of the 2023 and 2024 budgets, along with supplementary budgets, as the World Bank prepares its 2025 annual report. He also praised the federal government’s tax reforms, noting that increased revenue generation would drive greater development for Nigerians. Amid its economic challenges, Nigeria’s collaboration with global institutions like the World Bank and IMF is crucial for achieving its development goals.
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The First Lady, Oluremi Tinubu, is hopeful that Nigeria would wipe out tuberculosis (TB) by 2035, accentuating the significance of partnerships and innovation in tackling the country’s TB burden. She made the comment on Tuesday while Speaking at the 2024 National TB Conference in Abuja themed “Public-Private Partnership and Integrated Service Delivery: Panacea to End TB in Nigeria,” The First Lady complimented stakeholders for their endeavors however urged for sustained commitment to achieving worldwide TB targets. “Nigeria remains the country with the highest TB burden in Africa and ranks sixth globally. According to the 2024 WHO Global Tuberculosis Report, Nigeria recorded approximately 467,000 TB cases in 2023, underscoring the urgency of our collective fight against this disease,” she expressed. She said in spite Nigeria’s troubling statistics in the battle against TB there has been progress in diagnosing and treating TB, crediting it to the commitment of the Federal Government under President Bola Tinubu’s Renewed Hope Agenda, civil society organizations, and international partners like USAID and the Global Fund. “The solution to ending TB lies in the strength of our partnerships public and private and the integrated delivery of services that leave no one behind,” she stated. Senator Remi Tinubu additionally reaffirmed her dedication to eradicating tuberculosis, reporting that her prior donation had been used to procure diagnostic tools, boosting case detection, amongst other services. She likewise emphasized the importance of the conference as a platform to share knowledge, develop strategies, and reestablish commitment to the fight against TB.
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The Red Chamber has directed the Nigerian Railway Corporation (NRC) to restore Engr. Aniekan Paddy Ukpe, a former District Engineer, whose appointment was ended in March 2023. The Red Chamber likewise requested that he be paid all outstanding entitlements, expressing that there was no proof connecting him to the vandalization of railway tracks under his jurisdiction. The decision followed the consideration of a report introduced by the Chairman of the Senate Committee on Ethics, Code of Conduct, and Public Petitions, Senator Neda Imasuen (LP, Edo South). The report originated from a request filed by Engr. Ukpe, alleging illegitimate termination of his appointment by the NRC. In his appeal, Engr. Ukpe outlined the events prompting to his dismissal. He noted that he served as the Senior Civil Engineer supervising the North Central District, covering Kaduna, Plateau, Benue, and Nasarawa states. He claimed that on September 19, 2022, he was informed about the vandalization of railway tracks at Kamuru Station in Zonkwa, Kaduna State. He instantly detailed the incident verbally and via telegram to the District Manager and lodged a formal complaint with the police. His actions prompted the arrest and prosecution of the culprits, two of whom were condemned and sentenced to two years in jail. Anyway as opposed to being complimented, Engr. Ukpe expressed that the District Manager blamed him of underreporting the occurrence, issued him a query, and consequently alluded the matter to an investigative committee. He contended that the committee’s discoveries were one-sided and marred by inconsistencies, leading to his dismissal without an opportunity to defend himself. The NRC, represented by its Managing Director, Engr. (Dr.) F.E. Okhiria, justified the termination, referring to negligence of duty. As indicated by the NRC, Engr. Ukpe deferred reporting the incident to his bosses and demonstrated smugness in dealing the matter. The corporation contended that his activities violated the Railway General Rules of 1964, justifying his dismissal.
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The Bank of Industry has announced the disbursement of N22.89 billion from the N75 billion manufacturing sector intervention fund to 29 manufacturers across Nigeria. During the first interactive session in Abuja, titled “Driving SME Development through Strategic Partnerships,” Dr. Olasupo Olusi, the bank’s managing director, highlighted the bank’s commitment to empowering Small and Medium Enterprises (SMEs) through focused initiatives in collaboration with the organized private sector. Olusi emphasized that the session aimed to engage stakeholders in discussions on fostering a thriving industrial sector and supporting the growth of Small and Medium Enterprises (SMEs). He also revealed that an additional 20 projects, totaling N6.3 billion, are currently in various stages of disbursement under the same fund. Olusi referred to the interactive session as a key move towards strengthening partnerships and addressing the core issues facing the manufacturing and SME sectors. According to him, “This is a collaborative milestone, a reflection of our shared vision to create a thriving industrial sector. The journey to sustainable economic growth must be fueled by collaboration, innovation, and a shared resolve to address systemic challenges.” Dr. Olusi emphasized the critical role of partnerships in reshaping Nigeria’s industrial landscape. He stated, “Recently, we signed a Memorandum of Understanding (MOU) with your esteemed associations. This agreement underscores the simple truth that we cannot transform Nigeria’s industrial landscape alone. “The journey to sustainable economic growth must be fueled by collaboration, innovation, and a shared resolve to address systemic challenges.” Olusi presented BOI’s all-encompassing approach to SME development, which includes addressing infrastructure deficits, streamlining regulations, and improving market access. He also emphasized the need to focus on technology, sustainability, and skills development as essential elements for SME growth. Furthermore, he highlighted that the bank’s role goes beyond just offering financial support, aiming to foster a conducive environment for business success by tackling issues related to infrastructure, regulation, and market access. The BOI Managing Director highlighted that the bank’s strategic focus supports President Bola Ahmed Tinubu’s Renewed Hope Agenda, which emphasizes key areas such as MSME development, digital transformation, youth and skills development, climate sustainability, gender inclusion, and sectoral growth. He stressed that these priorities are national imperatives and require active participation to succeed.
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The African Development Bank Group has helped secure $2.2 billion in funding for the second phase of Nigeria’s Special Agro-Industrial Processing Zones initiative. This phase will build on the success of the first and aims to connect federal and state governments to key agricultural infrastructure. The announcement was made at the Africa Investment Forum in Morocco, where Nigerian state governors, leaders from multilateral development organizations, diplomats, and private sector investors gathered to show their support. This ambitious initiative aims to transform Nigeria’s agricultural sector. Building on phase one, it will create agro-industrial hubs designed to boost productivity, improve food security, raise living standards, and generate jobs. The bank reported that the boardroom session brought together top investors, including Arise IIP, the Arab Bank for Economic Development in Africa, Africa Export-Import Bank, Sahara Farms, BPI France, Africa50, and the US Development Finance Corporation. At the session’s close, organizers revealed a total deal value of $2.2 billion, marking a major milestone in the development of SAPZ Nigeria Phase II. Phase I of the program includes Nigerian states such as Cross River, Imo, Ogun, Oyo, Kaduna, Kwara, Kano, and the Federal Capital Territory. SAPZ Nigeria Phase II is now underway, with plans to expand to 24 states over the next three years. This phase will link Nigeria’s agricultural sector to agro-industrialization to drive economic growth. Dr. Abdul B. Kamara, the Bank’s Director General for Nigeria, expressed his enthusiasm, stating, “I am pleased to see this whopping investment interest and commitments by our financing partners for Nigeria, at a time when the country is ramping up efforts to attract investments into the agriculture sector to address food security, create job opportunities and boost economic growth.” According to Dr. Akinwumi Adesina, President of the African Development Bank Group, “This is a defining moment for Nigeria’s agricultural transformation. The Nigeria SAPZ II project will create millions of jobs, empower smallholder farmers, and position Nigeria as a leader in agro-industrialization. These investments exemplify the power of collaboration to achieve sustainable development in Africa.” The SAPZ Nigeria program is a nationwide, government-supported, private-sector-driven initiative aimed at transforming Nigeria’s agricultural sector. Strategically located in regions with high agricultural potential, these zones are equipped with essential infrastructure, shared services, and policy incentives to attract and integrate both agricultural and industrial businesses. The African Development Bank Group remains dedicated to driving inclusive growth across Africa, with the Nigeria SAPZ II project showcasing its commitment to impactful, large-scale development through strategic partnerships.
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A Former President of Nigeria, Chief Olusegun Obasanjo has stressed that the fight against corruption can only be effective and successful if it starts with accountability among top government authorities. Chief Olusegun Obasanjo expressed that tackling corruption at the highest levels of leadership would set a model for other people and demonstrate the government’s obligation to transparency and integrity. The information was focused on Obasanjo’s legacies in government and his evaluation of the present Nigeria. Chief Olusegun Obasanjo portrayed corruption as hydra-headed and one that has eaten profound into the fabric of Nigerian society, underlining that the battle against corruption should begin with leadership for it to succeed. “The best way of fighting corruption is starting from the head, that is where corruption has to be fought from,” he stated. The former President likewise presented that the battle against corruption should be a steady and day to day affair to stop it from ever really developing. “Corruption is very hydra-headed and eats deep. I think it was the Sultan of Sokoto, the father of the present Sultan who said corruption is like a ‘babariga’, if you are folding it on one side, it’s falling apart on the other side. When you carry it on both sides, you cannot hold your hands up and as soon as you put your hands down, it’s falling apart. “It’s anything but a one-day issue. It’s not a one-regime affair. It’s not even a two-regime affair. It must be predictable. it must be nonstop. It has to be a daily affair. When one system is let off, it spreads.” He called for an adjustment in the recruitment and appointment of leaders into public offices, demanding that political appointments should be based on merit instead of political or tribal basis. Speaking on the aspect of leadership, he said independent leaders or those enthroned by Satan will undoubtedly fizzle. He stated that only God makes a leader and whoever he ordains will succeed. “So I will say most leaders are prepared by God and they put in place by God and when that happens the chances of success are higher than when you make yourself a leader which may not be the act of God. “What’s more again people saying all leaders are made by God, I don’t acknowledge that. A leader can also be made by Satan. In the case of Job, you can remember Satan was going up and down and went before God and God was commending Job but Satan said Job was upright to God because he has gotten from God. “We must accept that Satan is real and he has power, he has no salvation but he has power and the power of Satan must not be underestimated.”
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Nigeria’s Value Added Tax (VAT) revenue reached an all-time high of N1.78 trillion in the third quarter of 2024, according to the National Bureau of Statistics (NBS). This marks a 14.16% increase from the N1.56 trillion collected in the previous quarter, and an impressive 88% rise compared to the same period last year. The breakdown shows that local VAT payments amounted to N922.87 billion, foreign VAT payments contributed N448.85 billion, and import VAT added N410.62 billion. The human health and social work sectors recorded the highest growth, surging by 250.39% from the previous quarter. Household activities, including undifferentiated goods and services produced for personal use, saw an increase of 102.09%. Some sectors faced significant declines. Water supply, sewerage, waste management, and remediation activities saw the largest drop, falling by 41.92%. This was followed by activities of extraterritorial organizations and bodies, which saw a 36.14% decline. The manufacturing sector was the largest contributor, accounting for 22.21% of the total VAT revenue, followed by information and communication at 20.89%, and mining and quarrying at 18.90%.The NBS also noted that activities of households as employers, including undifferentiated goods-and-services-producing activities for personal use, accounted for the smallest share at 0.01%, followed by activities of extraterritorial organizations and bodies (0.01%), and water supply, sewerage, waste management, and remediation activities (0.03%). The growth in VAT revenue signals progress in strengthening Nigeria’s fiscal position. Despite declines in some sectors, the solid performance of key industries like manufacturing and information and communication suggests the country is on the right track towards sustainable economic growth.
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A Magistrate court sitting in Ado Ekiti, the Ekiti State capital has detained human rights lawyer, Dele Farotimi, over a supposed case of defamation against the pioneer of Afe Babalola University, Ado-Ekiti (ABUAD), Aare Afe Babalola. Farotimi was charged by Ekiti State Police Command for publishing a book “Nigeria and its Criminal Justice System” where he claimed that Afe Babalola debased the Judiciary and procured judgements in the Supreme Court. The respondent Dele Farotimi pleaded not guilty to all the sixteen count charge. Samson Osun, Police examiner, required the remand of the suspect in prison custody awaiting further investigation and its result for the maintenance of security in the country. Dayo Akeredolu, attorney for the defense opposed the jailed call and pleaded with the court to concede the respondent to bail on exceptionally liberal terms and on self-acknowledgment on the case at hand is bailable and the suspect is a known figure who isn’t constituting any danger. He said the respondent is presumed innocent until proven guilty. Abayomi Adeosun, the presiding magistrate, in his decision, remanded the suspect in prison custody and adjourned till December 10.
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Rivers State Lead Representative, Siminalayi Fubara, explained that his administration has not been borrowing to fund governance, in opposition to reports circulating in certain quarters. Lead Representative Fubara clarified that the only loan obtained by his administration was a 200 billion naira facility reserved for the construction of the ring road project, an over 50km dual carriageway that will connect six local government areas in the state. He called out concerned persons to check his explanation with the Debt Management Office (DMO). Lead Representative Fubara made the explanation during the inauguration of the 11.8km Okehi-Umuola-Eberi road, a vital link between two sister local government areas of Etche and Omuma. The Lead Representative reiterated his administration’s obligation to guaranteeing the bliss and development of Rivers State residents, notwithstanding endeavors to sabotage his efforts. He guaranteed extra projects for the people of Etche and Omuma, including the completion of other roads and healthcare facilities. Lead Representative Fubara likewise stressed that governance ought not be driven by vindictiveness, reviewing how a road connecting Rivers State to Imo State through Etche was stopped halfway by the previous administration because it led to the residence of an opposition politician. He noted that his administration is presently completing that road. The inauguration of the Okehi-Umuola-Eberi road is part of 14 projects scheduled for commissioning and groundbreaking ceremonies between December 4 and December 21 under Lead Representative Fubara’s administration.
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The Nigerian Armed Forces Operation Fansan Yamma said the Troops of the Joint Task Force North West, Operation Fansan Yamma, have effectively directed a fighting patrol in response to a distress call from the residents and vigilantes of Yar Galadima village in Maru Local Government Area of Zamfara State. As indicated in the statement signed by the Coordinator, of the Joint Media Coordination Centre of the operation, Lieutenant Colonel Abubakar Abdullahi, the development happened early hours of first of December 2024, when the troops of Forward Operating Base (FOB) Hanutara were alarmed at about 5 am that terrorists were attacking the village. “The soldiers answered speedily to give help and restore peace to the affected area. During the patrol, the soldiers encountered terrorists who laid ambush at 2 different locations on the approach to the village.” “The ambush sites were cleared by the troops and some of the terrorists neutralised while others escaped. Also, the Air Component Operation Fansan Yamma quickly dispatched aircraft to give close air backing to the troops as they proceeded their advance to the village while the escaping terrorists were similarly engaged by the aircraft leading to scores of terrorists being killed.” He added that Operation Fansan Yamma stayed focused on eliminating any terrorist threats in the North Western part of the country and Niger StateThe Director of Immunisation and Disease Control, Kebbi State Primary Healthcare Development Agency, Junaidu Haliru Gwandu said the state targets 595,000 children in the first phase of the malaria vaccination rollout exercise. Dr. Walter Mulombo, WHO Delegate in Nigeria, said, “We are confident that this vaccine, in combination with other preventive measures, will drastically reduce the burden of malaria in Nigeria and help us move closer to accomplishing the goal of a malaria-free Africa.” The R21 vaccine was developed by scientists at Oxford University and made by the Serum Institute of India and Novavax. Nigeria is perhaps one of the first countries in the world to back the vaccine. Malaria vaccination is only for the prevention of malaria in children, not grown-ups. Malaria is one of the deadliest illness in Nigeria and Africa, ending the lives of hundreds of thousands of children younger than of 5 each year. Nigeria accounts for roughly 27% of the global malaria burden and 31% of malaria deaths around the world.
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The Federal Government and France have signed a Memorandum of Understanding (MoU) to strengthen collaboration in the minerals sector, focusing on research, training, and student exchanges. The agreement aims to enhance the critical minerals value chain through joint projects that promote knowledge, and skills transfer between institutions in both countries. These minerals, including copper, lithium, nickel, cobalt, and rare earth elements, play a vital role in clean energy technologies. Segun Tomori, the Special Assistant on Media to the Minister of Solid Minerals Development, announced in a statement that the MoU was signed by Minister Dele Alake during President Bola Tinubu’s visit to France. The statement also highlighted that the partnership will create opportunities for the remediation of more than 2,000 abandoned mining pits in the country through environmental rehabilitation and post-mining interventions. The statement also emphasized a key component of the MOU is the promotion of sustainable mining activities by executing projects and programmes that reduce the environmental impact of mining on carbon emissions, water consumption, and climate change, the statement noted. It also includes the establishment of joint extractive and processing projects through co-financing by public and private entities to diversify and secure the supply of critical minerals and decarbonize energy projects critical to the value chain. Dr. Dele Alake signed on behalf of Nigeria, while Mr. Benjamin Gallezot, the Inter-Ministerial Delegate for Critical Ores and Metals of France, signed for France. Both countries committed to adopting international best practices in implementing projects aimed at improving the conditions of communities affected by mining, with a strong focus on transparency. They also agreed to enhance the capacity of sector administrators through regular training, seminars, and events, aimed at improving the management of the critical metals value chain. Alake described the agreement as a significant boost to the Tinubu administration’s efforts to make Nigeria’s solid minerals sector internationally competitive. He emphasized that the ministry would use this partnership to attract French investors to the country’s mining sector.
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Human rights body Amnesty International has slammed police experts in Nigeria of utilizing “excessive force” against demonstrators during the #EndBadGovernance protests. The protests occurred between August 1-10 across the country due to the harsh economic conditions in Nigeria. Several months after the protests, Amnesty International claimed the police’s utilization of force during the demonstrations led to the demise of some persons. “Nigerian police used excessive force against protesters during the nationwide #Endbadgovernance protest between 1-10 August, killing at least 24 people in the states of Borno, Kaduna, Kano, Katsina, Jigawa and Niger, Amnesty International said in a briefing published today,” Amnesty International said in a signed assertion. It asserted, “Those killed included 20 young people, an older person and two children. “In all cases the victims were shot by the police, discharging live ammunition at short proximity often at the head or torso, suggesting that officers were shooting to kill. Two survivors suffered injuries a in the wake of being shot by police in the arm and legs, others were choked by the indiscriminate use of tear gas.” “People in Nigeria witnessed unbelievable lawlessness as security personnel fired live ammunition at peaceful protests. The loss of life could be higher than 24 because of the authorities’ desperate efforts to conceal the atrocities. Peaceful protest over government policies is now a matter of life and death in Nigeria,” the assertion cited the Director of Amnesty International, Nigeria, Isa Sanusi. “The Nigerian authorities must hold the police and other security agencies to be responsible for releasing lethal force on people who didn’t constitute an imminent threat to lives. It is shocking that police have engaged in blatant denials of wrongdoing despite public evidence to the contrary, and this speaks to their utter disregard for the sanctity of human lives. President Bola Tinubu must constitute an autonomous and impartial investigation of human rights violations during the #Endbadgovernance protests.” AMNESTY INTERNATIONAL PRESS RELEASE Nigeria: Police used excessive force to quash peaceful #Endbadgoverance protests At least 24 protesters killed, Over 1,200 including minors detained Nigerian police used excessive force against protesters during the nationwide #Endbadgovernance demonstrations between 1-10 August, killing at least 24 people in the states of: Borno, Kaduna, Kano, Katsina, Jigawa and Niger, Amnesty International said in a briefing published today. “Bloody August: Nigerian Government’s Violent Crackdown on #Endbadgovernance Protests” documents the violent crackdown on peaceful protests against rampant corruption and economic hardship. Those killed included 20 young people, an older person and two children. In all cases the victims were shot by the police, firing live ammunition at close range often at the head or torso, suggesting that officers were shooting to kill. Two survivors suffered injuries after being shot by police in the arm and legs, others were suffocated by the indiscriminate use of tear gas. “People in Nigeria witnessed unbelievable lawlessness as security personnel fired live ammunition at peaceful protests. The death toll could be higher than 24 because of the authorities’ desperate efforts to cover up the atrocities. Peaceful protest over government policies is now a matter of life and death in Nigeria,” said Isa Sanusi, Director of Amnesty International Nigeria. “The Nigerian authorities must hold the police and other security agencies to account for unleashing deadly force on people who did not constitute an imminent threat to lives. It is shocking that police have engaged in flagrant denials of wrongdoing despite public evidence to the contrary, and this speaks to their utter disregard for the sanctity of human lives. President Bola Tinubu must constitute an independent and impartial investigation of human rights violations during the #Endbadgovernance protests.” In Kano, 12 people were killed at Rijiyar Lemo and Kofar Nasarawa. In Jigawa state, 3 people were killed at Hadejia, while 1 person was killed at Kofar Sauri, Katsina state. In Kaduna state, a minor was killed by a solider in Zaria while police killed one person in Kaduna. In Maiduguri, 3 people were killed at A.A. Kime Filling Station at Bolori Junction. In Niger state, at least, 3 people were killed along the Abuja-Kaduna Expressway. Between 12-17 August 2024, Amnesty International carried out field research in Kano, Katsina, and Jigawa states. Evidence gathered includes videos and photographs, as well as accounts from eyewitnesses, medical workers and victims’ relatives, friends, and acquaintances on the ground. Eyewitnesses told Amnesty International in Kano, Dutse, Katsina, and Minna that the protests were largely peaceful when they began in the morning of 1 August, but the mood abruptly changed when police attacked the protesters by firing live ammunition and tear gas. The excessive use of force by the police against protesters contravenes international human rights standards, including the UN Basic Principles on the Use of Force and Firearms by Law Enforcement Officials. Those who expressed support for the protests on social media were attacked and many were arbitrarily arrested either by the police or the Department of State Services (DSS). Khalid Aminu was arrested by the DSS in Kaduna during the protest. He told Amesty International that: “I was tortured for over 60 days and the torture started right from the point of arrest. The DSS operatives beat me and other protesters with sticks and iron cables. They poured water on me. I am yet to fully recover from these atrocities.” Michael Adaramoye (widely known as Lenin) was detained for two months for being part of the protest in Abuja. Despite overwhelming evidence, including eyewitness accounts, videos, medical records, testimonies of the parents of victims and survivors, and photographs, the police have consistently denied involvement in the killings, dismissing them as “fake news” or attributing them to “unknown gunmen.” “The Nigeria Police Force’s denial of the killings of protesters is a disturbing trend that undermines trust, perpetuates impunity, and exacerbates the cycle of violence. It also adds to the agony of the parents whose loved ones were killed,” said Isa Sanusi. “The brutal crackdown on the #Endbadgovernance is a clear manifestation of Nigerian authorities’ failure to respect the right to freedom of assembly and expression. From unlawfully restricting protesters to certain places in Abuja, Lagos and Port Harcourt to attacks on journalists, the Nigerian police once again shows that nothing has changed about its attitude towards human rights.” International law is clear that security forces policing demonstrations must not use firearms against protesters unless they pose an imminent threat to life or serious injury, and only if there is no lesser way to avert such threat. Law enforcement agents must never use firearms to disperse a demonstration, even if it turns violent. Firearms must never be used as a tactical tool for the management of demonstrations. The only rare exception is to save another life. The Nigerian authorities must investigate thoroughly, independently, impartially, transparently, and effectively all allegations of human rights violations and abuses linked to the #EndBadGovernance protests. The authorities must identify those suspected to be responsible and bring them to justice in fair trials. “The Nigerian authorities must end this cycle of impunity and ensure justice for victims and survivors. Deadly crackdowns on peaceful protests must end in compliance with Nigeria’s national and international legal obligations,” said Isa Sanusi Between 1-10 August, people rampaged across in Nigeria in peaceful protests against the increasing cost of living and endemic debasement. Aside from purposeful endeavors to forestall the fights, frantic measures were taken by the government to rebuff the dissidents. The Nigeria Police Force denied allegations of excessive use of force and dismissed calls for an investigation. Over 1,200 people were detained and over 146 people – including minors, were arraigned and accused of treacherous felony.
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President Bola Ahmed Tinubu, GCFR, has supported the appointment of Jami’u Abiola, son of the late winner of the annulled June 12 1993 Presidential Election, Chief MKO Abiola, as the Senior Special Assistant to the President on Linguistics and Foreign Matters. A statement signed by Director, Information & Public Relations, Segun Imohiosen for the Secretary to the Government of the Federation, said the appointment is in accordance with the provisions of the Certain Political and Judicial Office Holders (Salaries and Allowances, so on) Act 2008, as amended. The appointment takes effect from 14th November, 2024. Up until his appointment, Jami’u served as the Special Assistant to the President on Special Duties in the Office of the Vice President. President Tinubu charged the appointee to work intimately with the Federal Ministry of Foreign Affairs and bring his wealth of experience to bear in his new task.
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Vice President Kashim Shettima has announced that Nigeria secured $1.27 billion in foreign investments from BRICS countries by June 2024, a notable rise from $438.72 million during the same period in 2023.The government stated that this growth demonstrates the strengthening of development partnerships and mutual trust between Nigeria and its international allies. The BRICS bloc is made up of Brazil, Russia, India, China, and South Africa, along with recent additions Iran, Egypt, Ethiopia, and the United Arab Emirates. The disclosure was made during the 2024 China-Africa Inter-Bank Association (CAIBA) Forum, sponsored by First Bank in Abuja Shettima, represented by Dr. Aliyu Modibbo, the Special Adviser to the President on General Duties, highlighted the growing economic ties between Nigeria and BRICS nations. He highlighted that Nigeria’s status as a partner country within the bloc reflects its commitment to building strategic partnerships that drive domestic growth. According to Shettima, “Nigeria has always been open to strategic alliances that support our domestic growth goals. This explains our active engagement with the BRICS nations, even as a non-member state, as seen in our participation in the BRICS Summit held in South Africa last year. “Our commitment to these relationships was further solidified at the October 2024 BRICS Summit in Russia. We are pleased to witness the growing influx of foreign capital from BRICS countries, which amounted to $1.27bn as of June 2024, a substantial increase from just $438.72m during the same period in 2023. This reflects the deepening of our development partnerships and the mutual trust that continues to grow between us.” The Vice President highlighted China as Nigeria’s top trading partner, with bilateral trade reaching N7.38tn in the first half of 2024. He attributed this growth to President Bola Tinubu’s diplomatic efforts, which led to the signing of five important Memoranda of Understanding during Tinubu’s official visit to China in September 2024. These agreements align with the Belt and Road Initiative and aim to enhance Nigeria’s infrastructure. First Bank Group CEO Olusegun Alebiosu at the event praised the China-Africa Inter-Bank Association for strengthening trade and investment relations. He emphasized the importance of innovative solutions to overcome trade barriers between Africa and China, noting that the partnership is crucial for the continent’s industrialization and economic diversification. Alebiosu expressed the bank’s commitment to achieving the goals of the China-Africa Inter-Bank Association (CAIBA) in the shortest possible time. He also highlighted FirstBank’s plan to expand its presence in China, moving beyond Beijing to key commercial hubs like Guangdong and Shanghai. He emphasized that these efforts reflect FirstBank’s strategic importance on China and its business relations with Chinese companies. Wang Weidong, the Vice President of China Development Bank, underscored the bank’s contributions to boosting China-Africa relations through infrastructure projects and support for small and medium-sized enterprises. He highlighted that these initiatives have created 270,000 jobs across 33 African countries, reinforcing the socio-economic advantages of the partnership.
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The Port Harcourt Refinery, one of Nigeria’s oldest oil facilities, has resumed fuel production, promising a daily output of around 200 trucks. The Nigerian National Petroleum Company Limited announced that the refinery has been revamped with modern equipment. Following its inability to come on stream in early 2023 and remaining dormant for a year despite reports of mechanical revival, the NNPC commenced loading petroleum products at the Port Harcourt Refinery yesterday, as the facility’s old assets, with a capacity of 60,000 barrels per day (bpd), resumed operation. During a brief ceremony to mark the beginning of product loading at the refinery, the Group Chief Executive Officer of NNPC, Mele Kyari, hailed the launch of the load-out activities as a historic milestone for Nigeria, marking the start of a new era of energy independence and economic growth for the nation. Stakeholders, including marketers and regulators, observed trucks being loaded at the refinery gantry. It was announced that approximately 200 trucks of petrol would be distributed to the Nigerian market daily. NNPC officials also led a tour of the facility, providing stakeholders with the opportunity to sample petrol, diesel, and kerosene. The Chief Executive of the Nigerian Midstream and Downstream Regulatory Authority (NMDPRA), Farouk Ahmed, expressed satisfaction with the development. He highlighted that with both the Dangote and Port Harcourt refineries operational, fuel availability across the country would improve. Ahmed also noted that the rehabilitation of the Warri and Kaduna refineries would transform Nigeria from a net importer to a net exporter of petroleum products. He emphasized that the refinery’s operation would foster competition and provide consumers with more choices in the downstream sector. President Tinubu celebrated the successful revitalization of the refinery, marking a key step toward the nation’s energy self-sufficiency. He also acknowledged the efforts of former President Muhammadu Buhari, whose administration launched the comprehensive refurbishment of the refinery. Furthermore, Tinubu highlighted the crucial role of loans from the African Export-Import Bank in financing the project, emphasizing that the facility would greatly boost domestic refining capacity. Alongside the contributions of privately-owned refineries, the revitalized facility will help position the country as a major energy hub.
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A survivor of kidnapping for ransom has supposedly succumbed to his injuries while receiving clinical treatment following gunshot wounds by armed bandits in Jibia Local Government Area of Katsina State. The deceased was among two protected casualties who had endured gunshot wounds and were rushed to the hospital for immediate medical attention by the police in the state. The incident happened yesterday, at about 1955 hrs, after a few suspected bandits, armed with dangerous weapons, shooting sporadically, went after two business vehicles at Dan’arau village along Magama Jibia road in Jibia LGA, Katsina State, in an attempt to kidnap the occupants. Accordingly, the Divisional Police Officer (DPO) in charge of the Jibia, led a team of operatives to the scene, and engaged the punks in a fierce gun duel. ASP Abubakar Sadiq, who represented the Kastina State Police Command in a proclamation , said, the DPO-led team, effectively thwarted the kidnapping attempt, and saved 14 victims. With efforts ongoing to apprehend the fleeing suspects, the Commissioner of Police in the State, CP Aliyu Musa, encouraged members of the public with valuable data on suspected criminal activities to immediately report to the nearest police station. He further, complimented the officers’ remarkable showcase of gallantry and dedication to duty, charging them to sustain the tempo. “On November 24th, 2024, at about 1955 hrs, suspected armed bandits, armed with dangerous weapons, shooting sporadically, attacked two (2) commercial vehicles at Dan’arau village along Magama Jibia road in Jibia LGA, Katsina State, in an attempt to kidnap the occupants. “The Divisional Police Officer (DPO) of Jibia led a team of operatives to the scene, engaging the scoundrels in a fierce gun duel, effectively thwarted the kidnapping attempt, and saved fourteen (14) victims. “Two rescued victims endured gunshot injuries and were rushed to the hospital for immediate medical attention. Tragically, one victim capitulated to his injuries while receiving treatment.” He made known that efforts are progressing to apprehend the fleeing suspects as the investigation proceeds. “The CP, while lauding the officers’ remarkable showcase of gallantry and commitment to obligation, charged officers to sustain the tempo. He further asked members of the public with useful information on suspected criminal activities to report to the nearest police station promptly”.
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The Dangote Petroleum Refinery has announced a reduction in the price of its Premium Motor Spirit, lowering it from N990 per litre to N970 per litre. This new price will be the rate at which oil marketers purchase the product from the refinery, which takes effect immediately. In a statement issued by Anthony Chiejina, the Group Chief Branding and Communications Officer of Dangote Group, the price adjustment was described as part of the company’s end-of-year initiative to give back to the nation. Chiejina said, “As the year ends, this is our way of appreciating the good people of Nigeria for their unwavering support in making the refinery a dream come true. In addition, this is to thank the government for their support as this will complement the measures put in place to encourage domestic enterprise for our collective well-being,” the statement read. Chiejina emphasized that the refinery would not compromise on the quality of its petroleum products, assuring Nigerians that they would continue to receive top-quality, environmentally friendly, and sustainable products. He also stated, “We are determined to keep ramping up production to meet and surpass our domestic fuel consumption; thus, dispelling any fear of a shortfall in supply,” the statement concluded.” The facility, touted as the largest single-train refinery in the world, has significantly bolstered domestic production capacity, reducing dependence on imported petrol. The price reduction is expected to have a ripple effect on the Nigerian economy, particularly in alleviating the financial burden on consumers amid rising inflation.
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A member of the Peoples Democratic Party (PDP) Segun Sowunmi has said President Bola Tinubu is his party’s main problem.https://www.channelstv.com/2024/11/20/tinubu-is-pdps-problem-has-no-business-appointing-wike-minister-sowunmi/
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The Red Chamber suspended the house rules to admit family members and close relatives of the late Senator Ifeanyi Ubah for the commencement of a valedictory session in his honour. During the service, President of the Red Chamber, Godswill Akpabio started by focusing on the seat of their former colleague, hung with the Nigerian flag and four emblematic candles. He noted that the day has been dedicated to the memory of the late Anambra Senator who kicked the bucket on the 26th of July 2024 at the age of 52. He further depicted the late businessman from Otolo, Nnewi North as a visionary with phenomenal empathy for all and a champion for economic strengthening and community improvement. Akpabio depicted Ubah’s death as a colossal loss in the political terrain of the nation.
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Minister of Federal Capital Territory (FCT), Nyesom Wike has endorsed the immediate payment of N70,000 new national minimum wage for staff of the Federal Capital Territory Administration (FCTA). A statement endorsed by the Head of Civil Service of FCT, Grace Adayilo, said the endorsement was in a bid to enhance the plight of employees serving under the FCTA. The head of the service made known the fact that the minister additionally conceded endorsement for payment of three months unpaid debts for all staff of the administration with effect from November 2024. The assertion further added that the move was part of the commitment of the minister to the welfare and well-being of the staff. As indicated by the Head of Service, the motion will further spur the whole staff of the administration, to help the minister to keep on delivering on the Renewed Hope Agenda of President Bola Ahmed Tinubu. Adayilo likewise expressed gratitude toward the minister for continuously granting quick endorsement for the payment of staff stipends and claims.
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