Author: Akintayo Adams

The Senate has declared that it will not consent to any increase in electricity prices that will worsen Nigerians’ situation. Adebayo Adelabu, the Minister of Power, stated two days ago at an Abuja press conference that Nigeria was unlikely to continue receiving the current electricity subsidy. He clarified that the nation’s power sector now owed about N3 trillion to gas and electricity businesses, or GenCos and GasCos, respectively. He said, “Today, we owe a total of N1.3tn to the power generating companies, out of which 60 per cent is owed to gas suppliers. Today we have a legacy debt, before…

Mandilas Market will be immediately closed for the next two days by the Lagos State Government in order to allow vendors to follow its order to remove any illegally constructed temporary buildings that have been placed on road setbacks inside and outside of the market. The Lagos State Building Control Agency, along with a few law enforcement agencies and other pertinent government entities in charge of emergency-related affairs, jointly conducted an inspection and enforcement exercise on Saturday during which the closure notice was issued. The enforcement action came about as a result of the traders’ failure to comply with the…

According to President Bola Tinubu, Nigeria is prepared to welcome the African Central Bank in keeping with the goals of the Abuja Treaty. Speaking to leaders at the 37th Ordinary Session of the African Union (AU) Assembly of Heads of State and Government in Addis Ababa, Ethiopia, on Saturday, President Tinubu announced that his administration will work with member states and the African Union Commission to ensure that the bank launches on time in 2028. The President reaffirmed that in order for Africa to prevent the recurrence of current issues and the emergence of new ones, the continent must successfully…

Starting on April 4, 2024, the United Kingdom will be imposing higher wage criteria on workers who wish to enter the nation under the Skilled Worker route. The minimum wage requirement is likely to skyrocket from £26,200 to £38,700, as previously indicated, along with a rise in going rates. The precise date of implementation has now been announced in a ministerial statement. When Home Secretary James Cleverly presented the revisions to the House of Commons in December, he disclosed that the new income requirement for those requesting working visas is £38,700, a significant rise from the previous £26,000. He stated…

The All Progressives Congress governorship primary, which was held in Edo State on Saturday, has been declared won by House Representatives Member, Dennis Idahosa. He received 40,483 votes in total to be the APC’s nominee for the state’s governorship on September 21. Hope Uzodimma, the governor of Imo State and the head of the APC primary election committee, announced the results and declared that the Idahosa would run as the party’s candidate since she received the most votes out of the nine candidates. Additionally, he added that the location of the committee’s secretariat was misplaced, pointing out that the real…

The European Union has announced intentions to contribute an additional €37 million to support initiatives including mini-grids that are separated and connected, hydropower, and solar energy for healthcare institutions. This is separate from grants totaling €200 million given to the industry since 2008. This was revealed by EU ambassador to Nigeria Samuela Isopi while in Abuja visiting Power Minister Adebayo Adelabu. Godfrey Ogbemudia, the program manager for energy, and DE Luca Massimo, the new EU Head of Cooperation, accompanied her. The EU’s numerous power sector intervention programs were discussed by the ambassador during the visit, with the statement that “the…

According to the Federal Inland Revenue Service (FIRS), it has worked with the Ministry of Works and the Nigerian National Petroleum Company (NNPC) Limited to terminate all non-performing contracts under the road construction tax program. The N2.73 trillion financing deficit under the program is a topic on which FIRS said in a statement on Friday that they have also decided to write and submit to President Bola Ahmed Tinubu. The FIRS said that on Friday in Abuja, its chairman, Zacch Adedeji, had a private meeting with the NNPC chief financial officer (CFO), Umar Ajiya, and minister of works, David Umahi.…

For the first time since President Bola Tinubu’s administration took office, the Central Bank of Nigeria (CBN) has lowered the exchange rate from N1,515.48 to N1,472.75 to the dollar for calculating customs duty rates. The margin of N42.244, or 2.8%, represents the reduction. The CBN adjusted the Customs exchange rate barely 24 hours after it had increased it to N1,515.48, a move, which triggered backslashes and angry reactions from Nigerians. Earlier on June 24, 2023, the CBN adjusted the exchange rate from N422.30/$ to N589/$, and on July 6, 2023, it was adjusted to N770.88/$, on November 14, 2023, it…

Ethiopia is the first nation in the world to forbid the import of any vehicle that is not electrically driven, breaking a tradition in which less developed nations served as dumping grounds for used automobiles from other countries. Whereas the European Union plans to outlaw the sale of automobiles with internal combustion engines starting in 2035, Ethiopia is around ten years ahead of schedule. Speaking, Ethiopia’s Minister of Transport & Logistics, Alemu Sime said, “A decision has been made that automobiles cannot enter Ethiopia unless they are electric ones.” The Ministry of Transport and Logistics in Ethiopia has just made…

To lessen the impact of the current hardship on Nigeria’s most vulnerable citizens, Olukemi Tinubu, the first lady of the country, and Bashir Adeniyi, the comptroller general of Nigeria Customs, unveiled the N500,000 million Customs Officers Wives’ Association, or COWA, assistance funds. This was announced during the Customs Officers Wives’ Association, or COWA, recent relaunch in Abuja. Oluremi Tinubu stated that the federal government backs any effort to get Nigeria out of its current predicament, as represented by Oghogho Musa, President of the Defence and Police Officers’ Wives Association. “What makes our nation exceptional is not our shared political beliefs…