In a move to address the escalating challenges of kidnappings and bandit attacks, President Tinubu has announced a plan centered around a massive education initiative aimed at Nigerian youths. President Tinubu, speaking during a meeting with the distinguished Islamic Movement, Jam’iyyatu Ansaridden, at the State House in Abuja on Tuesday, assured that security agencies are swiftly addressing the current challenges. He pledged to roll out all necessary resources, policies, and plans for a massive education initiative aimed at Nigerian youths. Emphasizing the transformative power of education, President Tinubu stated, “There is no weapon against poverty that is as potent as…
Author: Omolemi Eboisetale
Shell, a British energy giant with a rich history in Nigeria’s oil and gas sector dating back to the 1930s, is set to conclude almost a century of onshore operations. The company has reached an agreement to sell its subsidiary, The Shell Petroleum Development Company of Nigeria Limited (SPDC), to a consortium of five predominantly local companies for a staggering $2.4 billion. The consortium, named Renaissance and comprised of ND Western, Aradel Energy, First E&P, Waltersmith, and Petrolin, a Swiss-based trading and investment company, will take over the onshore assets, including responsibility for handling spills, theft, and sabotage. This marks…
The Economic and Financial Crimes Commission (EFCC) revealed the list of former governors and ministers allegedly involved in the misappropriation of substantial sums of public funds. Here’s a breakdown of the key figures and the amounts under investigation: FORMER GOVERNORS Sule Lamido [Jigawa] ₦1.35bn Rabiu Kwankwaso [Kano]: ₦10bn Aliyu Wamako [Sokoto]: ₦15bn Bello Matawalle [Zamfara]: ₦70bn Abdullahi Adamu [Nasarawa]: ₦15bn Danjuma Goje [Gombe]: ₦5bn Kayode Fayemi [Ekiti]: ₦4bn Ayo Fayose [Ekiti]: ₦6.9bn Theodore Orji [Abia]: ₦551bn Chimaroke Nnamani [Enugu]: ₦5.3bn Sulllivan Chime [Enugu]: ₦450m Timipre Sylva [Bayelsa]: ₦19.2bn Peter Odili [Rivers]: ₦100bn FORMER MINISTERS Sadiya Umar-Farouk…
31 African nations are on the brink of embracing the principles of the African Continental Free Trade Area (AfCFTA), in 2024, a significant leap from the seven countries that participated in 2023. AfCFTA Secretary-General Wamkele Mene revealed this development at a World Economic Forum panel in Davos, underlining the region’s commitment to creating a single market. The 2023 trial run of AfCFTA included the trade of processed agricultural products, manufactured goods, and services. Notable examples include Uganda exporting excess milk to Algeria and a Ghanaian ceramic-tile manufacturer shipping products to Cameroon, with AfCFTA facilitating a noteworthy 20% reduction in duty.…
The Federal Government, through the Nigerian Electricity Regulatory Commission (NERC), has granted 13 new licences for power generation, distribution, and trading. The latest development, as revealed in the third quarter 2023 report, brings a cumulative 40.9 megawatts to the nation’s electricity capacity. The licenses, issued for off-grid and embedded power generation, independent electricity distribution, and electricity trading, aim to address the country’s persistent power challenges. Notably, five new off-grid generation licenses, generating 8.81MW, and an embedded generation license for 5MW were among those issued during the review period. Daybreak Power Solutions Limited received eight licenses for various off-grid…
President Bola Tinubu, former Head of State General Yakubu Gowon, alongside other eminent personalities, convened in Abuja for the exclusive launch of the book ‘Working with Buhari.’ The book, authored by Femi Adesina, the former Special Adviser to the President on Media and Publicity, offers a unique perspective on the collaborative efforts within the corridors of power. Former Vice President Yemi Osinbajo was also among the distinguished guests who graced the occasion, marking a rare public appearance of both the current and past leaders since the handover on May 29. The event witnessed the presence of former First Lady Aisha…
The Africa Pay TV Forecast indicates a notable expansion in the continent’s pay television subscriber base, with an expected surge of 12 million subscribers by the year 2029. The research explores current trends and offers a detailed analysis of the pay TV market, showcasing the steady momentum behind subscriber growth from 43 million at the close of 2023 to the anticipated figures in 2029. Significantly, the study identifies four countries projected to contribute to nearly half of the total subscription base, with Nigeria playing a prominent role in this evolving market. Satellite TV and digital terrestrial television (DTT) services are…
The Federal Inland Revenue Service (FIRS) has officially announced the postponement of the implementation guidelines for the value-added tax (VAT) simplified compliance regime related to the supply of low-value goods through digital means by non-resident suppliers. This development comes as the tax agency seeks to ensure a seamless and efficient process for the collection and remittance of taxes in this category. In an official statement released earlier today, FIRS cited the need to conclude the development of a more effective process before proceeding with the implementation. The tax agency is committed to engaging with stakeholders to guarantee a smooth and…
Meta, the parent company overseeing Facebook and Instagram, has unveiled plans to implement more stringent content controls to enhance online safety for teenagers. The social media giant aims to prioritize age-appropriate experiences for young users, aligning with expert recommendations in adolescent development and mental health. In a detailed blog post, Meta outlined its commitment to placing teenagers under “the most restrictive” content control settings on both Instagram and Facebook. The company disclosed that it will obscure specific content categories, including posts related to suicide, self-harm, and eating disorders. These topics will no longer be recommended or easily accessible in…
President Bola Tinubu has declared a transformative vision for Nigeria, emphasizing a renewed commitment to prioritizing education and healthcare. The President’s assurance comes as part of his broader plan to create an economically stable and prosperous country, unveiled during the second-term inauguration of Governor Hope Uzodinma in Imo State. Tinubu, addressing the nation, stated, “Education and healthcare will receive more attention as we strive to create an economically stable and prosperous Nigeria. These sectors are integral to our vision for development, and we are resolute in our commitment to fostering positive change.” The President acknowledged the challenges faced by citizens…
The Federal Government, through the Transmission Company of Nigeria (TCN), has taken delivery of seven new mega transformers as part of the Siemens Energy Deal. The newly acquired mega transformers, characterized by their high capacity and advanced technology, are slated to be strategically deployed to various substations across the nation. The primary objective behind this deployment is to fortify the existing power grid and consequently improve the overall power supply reliability. The Siemens Energy Deal, a comprehensive collaboration between the Nigerian government and Siemens, aims to revitalize and modernize the country’s power sector. The acquisition of these seven mega transformers…
In a recent address during Governor Hope Uzodimma’s second-term inauguration in Owerri, President Bola Tinubu shared a positive outlook on addressing the ongoing ‘Japa’ phenomenon. He reassured Nigerians that the Federal Government, in collaboration with sub-national bodies, is actively working to counter the mass departure of skilled professionals, particularly in crucial sectors like healthcare and technology. President Tinubu conveyed, “We understand the concerns related to the ‘Japa’ syndrome, and we want to assure everyone that we have plans in place. Working together with sub-national entities, we are set to roll out training programs to equip more citizens with the necessary…