Author: Akintayo Adams

The Nigerian National Petroleum Company Limited (NNPCL) and Dangote Refinery are in a contentious dispute over a $1 billion loan. NNPCL claims the loan, secured by crude oil, was vital for assisting the refinery during financial difficulties. Conversely, Dangote Refinery counters this, asserting that the $1 billion was an investment for acquiring a 7.24% stake in the refinery, not for liquidity support. The conflict traces back to a 2021 agreement, where NNPCL was to acquire a 20% equity stake in the refinery, valued at $2.76 billion. NNPCL initially paid $1 billion, with the remainder to be offset over five years…

The Centers for Disease Control and Prevention (CDC) has confirmed the first severe human case of bird flu in the United States. A patient in Louisiana has been hospitalized with a severe infection of the H5N1 avian influenza virus. This case was confirmed on December 13, 2024, and brings the total number of avian influenza infections in the U.S. during the current outbreak to 61. The patient was exposed to sick and dead birds in backyard flocks. The CDC has stated that while this is the first severe case, the overall risk to the public remains low. The agency continues…

Following the tragic stampede at the children’s funfair in Ibadan, Oyo State, Agidigbo FM has released a statement to clarify its involvement in the event. The radio station stressed that it was not the event organizer but acted as a media partner to promote the carnival. The station explained that they had aired public service announcements and jingles to warn people about the large crowds and to advise caution. Agidigbo FM also noted that the event organizers had arranged for security personnel and medical teams to handle the situation and assist the affected individuals. Expressing deep sympathy for the victims’…

President (Asíwájú) Bọ́lá Ahmed Tinúbú – GCFR has arrived in Lagos for the holiday season. He landed at the Murtala Muhammed International Airport in Ikeja, Lagos, on Thursday afternoon. The President was warmly received by Lagos State Governor Babajide Sanwo-Olu, his deputy Dr. Obafemi Hamzat, and other top government officials. Upon arrival, President Tinubu was greeted by a crowd of supporters and the Lagos State Cultural Troupe, who performed traditional music and dances. After the warm welcome, he boarded a helicopter to Dodan Barracks in Ikoyi before heading to his private residence in Lagos. Get instant and latest news updates…

A heartbreaking incident occurred at a carnival in Ibadan, the capital of Oyo State, where a stampede led to the deaths of several children. The tragedy unfolded in the Bashorun area on Wednesday. While the exact number of casualties remains unclear, it has been reported that many of the victims have been rushed to hospitals across Ibadan. The carnival, slated for Wednesday, saw parents bringing their children to the venue a day early, with others arriving in the early hours of Wednesday. The chaotic rush to enter the venue resulted in a deadly stampede, causing significant loss of life. Get…

President (Asíwájú) Bọ́lá Ahmed Tinúbú – GCFR has announced that his administration is targeting an exchange rate of ₦1500 to the dollar to achieve the goals set out in the 2025 budget. This ambitious target is part of the broader strategy to stabilize the Nigerian economy and ensure the successful implementation of the budget. The 2025 budget, which President Tinubu presented to the National Assembly, includes significant allocations for infrastructure development, social welfare programs, and economic reforms. By aiming for a ₦1500 exchange rate, the government hopes to enhance the value of the Naira, reduce inflation, and attract foreign investment.…

President Bola Ahmed Tinubu – GCFR is presenting the 2025 budget to a joint session of the National Assembly today. The Federal Executive Council approved the ₦47 trillion budget proposal on Monday. This budget is Tinubu’s second full budget since taking office in May 2023. The proposed budget is based on an oil price benchmark of $75 per barrel, oil production of 2.06 million barrels per day, and an exchange rate of ₦1,400 to the dollar. It projects total revenue at ₦34.82 trillion, while total expenditure is estimated at ₦47.96 trillion, marking a 36.8% increase from the 2024 estimate. The…

Osun State Governor, Ademola Adeleke, has ordered an immediate investigation into the case of Segun Olowookere, who was sentenced to death by hanging for stealing a chicken. The directive was issued through a statement by his spokesperson, Olawale Rasheed, on Tuesday. Governor Adeleke has instructed the state’s Attorney General to intervene and ensure that Olowookere is considered for a prerogative of mercy before the end of the year. In the statement, the governor emphasized the importance of justice and equity in Osun State, stating, “I have read about the case. I recognize separation of powers in our democracy. In this…

The National Bureau of Statistics (NBS) has revealed that between May 2023 and April 2024, Nigerians paid a total of ₦2.2 trillion as ransom due to the country’s escalating insecurity. This information comes from the latest NBS Crime Experience and Security Perception Survey. The report highlights that households affected by kidnapping incidents bore the brunt of these payments, underscoring the growing menace of criminal activities. An estimated 51.89 million crime incidents were recorded across Nigerian households during this period. Regionally, the North-West topped the list with the highest number of incidents at 14.4 million, followed by the North-Central region with…

The Central Bank of Nigeria (CBN) has announced a new policy capping daily withdrawals at Point-of-Sale (POS) terminals to ₦100,000 per customer. This directive, aimed at promoting a cashless economy, was detailed in a circular issued on December 17, 2024. Addressed to Deposit Money Banks, Microfinance Banks, Mobile Money Operators, and Super-Agents, the circular mandates immediate adherence to the new withdrawal limits. Additionally, the CBN has set a cumulative daily cash-out limit of ₦1,200,000 for agents and a weekly withdrawal ceiling of ₦500,000 per customer. The CBN clarified that these measures are designed to curb fraud, standardize operational practices, and…