Author: Akintayo Adams

The import of Premium Motor Spirit (PMS), commonly known as petrol, into Nigeria dropped by 13.77% in 2023, amounting to 20.30 billion liters, compared to 23.54 billion liters in 2022. This decline was disclosed by the National Bureau of Statistics in its latest Petroleum Products Distribution Data for 2023. The reduction in petrol imports follows the introduction of the fuel subsidy removal policy by President Bola Ahmed Tinubu’s government in May 2023. The report also highlighted a 16.96% drop in petrol distribution, from 24.35 billion liters in 2022 to 20.22 billion liters in 2023. On the other hand, the data…

President Bola Ahmed Tinubu announced that his administration has cleared a ₦30 trillion “ways and means” loan from the Central Bank of Nigeria. He made this disclosure during a nationwide broadcast as part of the 64th Independence Day celebrations. The President highlighted that in the past 16 months, his government has made significant strides in reforming and repositioning Nigeria’s economy. He emphasized that, under his leadership, the country has successfully reduced its debt service ratio from 97% to 68%. Addressing the need for continued fiscal reforms, Tinubu warned of the consequences if fiscal misalignments are not corrected, noting that the…

Kano State Governor, Abba Yusuf, has adopted 95 orphans from the state orphanage as his children. The announcement was made during a special lunch with the children to mark Nigeria’s 64th Independence Anniversary, according to a statement by the governor’s spokesman, Sanusi Bature. Governor Yusuf pledged to assume full responsibility for the orphans’ education, healthcare, feeding, and other social needs throughout his tenure. He assured that the children would be treated with the utmost care and given the opportunity to reach their full potential in life. “You are now my children,” the governor said, expressing his commitment to providing them…

Banks’ borrowing from the Central Bank of Nigeria (CBN) through the Standing Lending Facility (SLF) surged by 117.2 percent month-on-month (MoM), reaching N7.82 trillion in September 2024, up from N3.6 trillion in August 2024. At the same time, deposits in the CBN’s Standing Deposit Facility (SDF) skyrocketed by 400 percent, increasing from N790.87 billion in August to N3.97 trillion in September 2024. The sharp rise in SDF deposits is attributed to the CBN’s decision to raise interest rates following the Monetary Policy Committee (MPC) meeting held in late August. This increase made it more profitable for banks to deposit funds…

The Federal Government has commenced palliative repairs on the deteriorated sections of the Lagos-Sango-Abeokuta Expressway. On Monday, Mrs. Olukorede Kesha, the Federal Controller of Works in Lagos State, inspected the ongoing work on a damaged seven-kilometer stretch of the road. Kesha noted that the entire road within Lagos spans 18km, but only the most severely damaged sections will be addressed at this stage. She explained that delays in repairs were due to the concessioning process, which was affected by the transition between the previous and current administrations. The government, however, has now decided to carry out palliative measures while awaiting…

Iran has launched ballistic missiles at Israel, triggering air raid sirens across the country, according to the Israel Defense Forces (IDF). The sky over Israel lit up as missiles were launched, with NBC News capturing footage of both the Iranian missiles and Israel’s aerial defense system attempting to intercept them. Loud booms were heard, though it is unclear if they were caused by the interception of missiles or direct impacts. The attack, which lasted about an hour, ended without reported fatalities, according to Israeli authorities. U.S. officials had warned earlier of an imminent Iranian missile strike, prompting the U.S. military…

Bruno Fernandes’ three-match ban has been overturned after Manchester United successfully appealed his red card from the defeat to Tottenham at Old Trafford. Fernandes was sent off by referee Chris Kavanagh for a tackle on James Maddison just before half-time, with VAR upholding the decision despite Fernandes appearing to slip during the challenge. Initially set to miss matches against Aston Villa, Brentford, and West Ham, the FA confirmed on Tuesday that United’s appeal was successful. A statement from the FA read, “Bruno Fernandes will be available for Manchester United’s next three games following a successful claim of wrongful dismissal.” This…

Emirates Airlines resumed operations at Murtala Muhammad International Airport (MMIA) in Lagos on Tuesday, two years after suspending flights due to issues, including unresolved funds trapped in Nigeria. The airline’s flight EK 783 landed at the old terminal of MMIA at 3:32 pm, marking the return of the UAE’s flag carrier to the country. While the exact number of passengers on the Boeing 777-300ER could not be confirmed, many travelers reported that the flight had several empty seats. The Boeing 777-300ER has a passenger capacity of 392, but due to this being the first flight after a long break, the…

WikiLeaks founder Julian Assange made his first public remarks since his release after striking a deal with the United States, saying he is free because he “pleaded guilty to journalism.” Speaking in Strasbourg before the Parliamentary Assembly of the Council of Europe (PACE), Assange described his years of detention and conviction as unjust, stating, “I am free today after years of incarceration because I pled guilty to journalism.” Assange emphasized the dangers posed to investigative journalism by the criminalization of newsgathering, asserting that journalists should not face prosecution for performing their duties. He declared, “Journalism is not a crime. It…

As Nigerians celebrate the country’s 64th Independence Anniversary, the Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has reaffirmed the agency’s commitment to fighting corruption. Olukoyede emphasized the need for greater dedication to combating economic and financial crimes, aligning with President Bola Ahmed Tinubu’s Renewed Hope Agenda. In a statement shared on the EFCC’s official X handle, Olukoyede urged Nigerians to collaborate with the Commission in the quest for reform, progress, and sustainable development. He stated, “The EFCC is resolute in its drive to make Nigeria corruption-free,” and expressed optimism about the country’s potential for…