Author: Akintayo Adams

Senator Abubakar Kyari, Minister of Agriculture and Food Security, made it clear on Wednesday that the 42,000 metric tons of grains that were just approved for distribution to Nigerians in need would be given out without charge. According to the minister, the required equipment and safeguards had been installed to make sure that the food palliatives were only available to communities and individuals in need. As a temporary solution to the nation’s growing food scarcity, President Bola Tinubu ordered the immediate release of 42,000 metric tons of various foods from the strategic reserve and the Nigerian Rice Millers Association. At…

The second FGN bond auction of the year is intended to raise ₦2.5 trillion for the Federal Government. In a circular released on Wednesday, the Debt Management Office said that the offerings were ₦1.25 trillion with a 10-year tenor and ₦1.25 trillion with a maturity date of February 2031. The Federal Government’s domestic borrowing plan includes FGN savings bonds. About N7.06 trillion was raised by the Federal Government from the fixed income market last year. The Federal Government estimates that it would borrow ₦7.83 trillion this year. The National Assembly was asked to approve President Bola Tinubu’s plan to borrow…

The Federal Government of Nigeria said on Wednesday that the country’s power sector now owes approximately ₦3.3 trillion to gas and electricity producing businesses. It also showed that, in contrast to the ₦450 billion allocated for this purpose in this year’s budget, the electricity subsidy for 2024 would cost over ₦3 trillion, and it was already exceedingly difficult to maintain power subsidies. It is imperative that Nigeria transition to a tariff model that is cost-effective. He disclosed that the nation owes $1.3 billion to gas businesses and ₦1.3 trillion to companies that generate power. Despite calls from some quarters for…

On Thursday, February 15, 2024, President Bola Tinubu will leave Abuja for Addis Ababa, Ethiopia, to take part in the 37th Ordinary Session of the African Union’s (AU) Assembly of Heads of State and Government. “Educate an African fit for the 21st Century: Building resilient education systems for increased access to inclusive, lifelong, quality, and relevant learning in Africa” is the theme of this year’s summit. Ajuri Ngelale, the presidential spokesman, said that the president will attend high-level meetings with other African leaders to discuss institutional reforms of the African Union, peace and security, particular thematic issues like climate change,…

To move from the current presidential style of administration to a parliamentary one, about 60 members of the Federal House of Representatives are presently attempting to modify the 1999 Constitution. Leading the charge for a return to the parliamentary system was Wale Raji, an All Progressives Congress legislator representing Lagos State. Among other reasons, the Reps cited the need to lower government expenses and have vigorous policy discussions. The group, known as the Parliamentary Group, introduced a constitution alteration bill on the floor of the House of Representatives on Wednesday, setting in motion what could be a transition to a…

A 37-member committee to examine the 1999 constitution has been announced by Senate President Godswill Akpabio. The group will be chaired by Deputy Senate President Barau Jibrin. One Rep from each geopolitical zone as well as the Federal Capital Territory (FCT), Abuja, will be on the committee. The committee will specifically examine rules pertaining to state police and artificial intelligence, among other areas. and is scheduled to be inaugurated on Tuesday of next week. The country’s struggles with rising kidnapping and banditry have fueled the call for state police, which has gained momentum in recent times. Peoples Democratic Party (PDP)…

Duoye Diri, the governor of Bayelsa State, took the oath of office for a second term. In the state capital of Yenagoa, at the Samson Siasia Sports Complex, he took the oath of office on Wednesday at 1:58 p.m. Justice Matilda Ayemieye, the State Chief Judge, administered the oath of office to Diri and his deputy, Lawrence Ewhrudjakpo. Vice President Kashim Shettima, former President Olusegun Obasanjo, former President Goodluck Jonathan and his wife, Patience Jonathan, and Vice President of Liberia, Jeremiah Koung were among the dignitaries who graced the occasion. Governors AbdulRahman AbdulRazak (Kwara), Ahmadu Fintiri (Adamawa), Ademola Adeleke (Osun),…

According to the Nigerian Meteorological Agency, the country’s current extreme heat wave is expected to last for some time. This was revealed by NiMET on Wednesday in its meteorological and climate update, which was published on its official X website. Along with outlining the effects of the weather, the agency gave the public advice on how to handle the issue in the post. “Air Temperatures hit 41°C over the North and 39°C over the South with model Projections indicating temperatures to remain high in the coming days,” according to the post by NiMET. “IMPLICATIONS: Dehydration: This could also cause fainting;…

Following the passing of its chairman, Abimbola Ogunbanjo, Beta Glass, a division of Frigoglass Group, said it will announce the succession plan for the board. Ogunbanjo, the former group chairman of the Nigerian Exchange Group Plc (NGX Group), was hurt on Friday in an American helicopter crash. Along with his wife and son, Herbert Wigwe was a former group chief executive officer (GCEO) of Access Holdings Plc. All three of them perished in the disaster. Beta Glass stated in a corporate filing on Monday that, in the interim, its board of directors will continue to offer support. “In due time…

The photographs of the scene where Herbert Wigwe, the chief executive officer of Access Holdings, was riding in the helicopter crashed have been made public by the US National Transportation Safety Board (NTSB). Near Halloran Springs, near the California-Nevada border, Wigwe, his wife Doreen, their son Chizi Wigwe, and former chairman of the Nigerian Exchange Group Abimbola Ogunbanjo perished in an Airbus EC130 helicopter crash. The pictures, which were made public after NTSB board member Michael Graham claimed to have visited the scene and described their activities during the first full day of the crash inquiry, depict NTSB personnel looking…