South Africans are set to experience more relief at the pumps with a significant decrease in fuel prices coming into effect on Wednesday, July 3, 2024. According to unaudited data from the Central Energy Fund (CEF), petrol prices are expected to drop by around R1 per litre, while diesel prices will see a smaller reduction. For petrol, the expected reductions are R1.01 for 95 Unleaded and 95 cents for 93 Unleaded. This will bring the new prices to approximately R22.91 per litre for 93 Unleaded in Gauteng, R23.25 for 95 Unleaded in Gauteng, and R22.46 for 95 Unleaded at the…
Author: Omolemi Eboisetale
NASA has granted SpaceX the contract to deorbit the International Space Station (ISS) by 2030, marking a significant shift towards commercially owned space destinations. SpaceX will develop a vehicle to tow the ISS through the atmosphere, where it will destructively break up and crash into the ocean. This mission, valued at $843 million (£666.4 million), underscores NASA’s commitment to transitioning to privately operated space habitats closer to Earth. Since its launch in 1998, the ISS has been a beacon of international collaboration, hosting astronauts from the US, Russia, Japan, Europe, and Canada. With over 3,300 scientific experiments conducted, the space…
The Socio-Economic Rights and Accountability Project (SERAP) has issued a seven-day ultimatum to Mr. Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN), demanding an explanation for the whereabouts of over N100 billion in “dirty and bad notes” and other public funds. These allegations, documented in the latest annual report by the Auditor-General of the Federation, highlight serious concerns about transparency and accountability within the CBN. SERAP’s deputy director, Kolawole Oluwadare, stated the need for clarity on the N7.2 billion budgeted for the construction of the CBN Dutse branch in 2010 and the N4.8 billion allocated for the…
Legendary investor Warren Buffett, turning 94 in August, has made his largest annual donation to date, giving away $5.3 billion worth of Berkshire Hathaway shares to five charities. Buffett, known as the “Oracle of Omaha,” converted 8,674 of his Berkshire Class A shares into more than 13 million Class B shares for the donation. The Bill & Melinda Gates Foundation received 9.93 million shares, with the remainder distributed among the Susan Thompson Buffett Foundation and three charities led by his children: Howard, Susan, and Peter Buffett. Since 2006, Buffett has been steadily donating portions of his Berkshire fortune,…
A devastating bomb attack at a wedding venue in Tashan Mararaba, Gwoza town, has left at least six people dead and fifteen others injured. The tragic incident occurred on Saturday when a young female suicide bomber, identified as being in her early twenties, detonated her explosive device amidst a celebratory gathering. Security analyst and counter-insurgency expert Zagazola Makama reported that the victims, all civilians, were returning from a wedding celebration when the attack took place near a busy motorpark. The sudden explosion caused chaos and widespread destruction, leading to an immediate response from emergency services. Medical personnel at the hospital…
The Minister of Works, David Umahi, has issued a stern warning to major construction companies, Julius Berger, China Civil Engineering and Construction Company (CCECC), and Raynolds Construction Company (RCC), to mobilize to their project sites immediately or face the termination of their contracts. Speaking during the Stakeholders’ Engagement on the Alignment of Sections 3b and 4 of the Lagos-Calabar Coastal Highway held at Ibom Hall, Uyo, Akwa Ibom State, Umahi stated the government’s frustration with the contractors’ delays. He stated that after the expiration of the 14-day notice period next week, any contractor that fails to mobilize will have their…
MTN Nigeria, on Saturday, announced the construction of its West African largest data centre, a facility with a 1,500-rack and Tier 4 data centre within the country. The News Agency of Nigeria reports that a Tier 4 data centre is built to be completely fault-tolerant, has redundancy for every component and an expected uptime of 99.995 per cent. This means it can withstand a wide range of potential disruptions and offers the most reliable infrastructure. The Chief Technical Officer, of MTN, Mr Mohammed Rufai, told newsmen in Lagos that construction of the data centre was a move to enhance Nigeria’s…
Iran on Saturday warned that “all Resistance Fronts”, a grouping of Iran and its regional allies, would confront Israel if it attacked Lebanon. The comment from Iran’s mission to New York comes with fears of a wider regional war involving Israel and Lebanon’s Iran-backed Hezbollah movement. The two sides have engaged in near-daily exchanges of fire since the war in Gaza began. Such exchanges have escalated this month, alongside bellicose rhetoric from both sides. Israel’s military said plans for a Lebanon offensive had been “approved and validated”, prompting Hezbollah to respond that none of Israel would be spared in a…
The United Nations said they discovered five bombs in a wall of Mosul’s iconic Al-Nuri mosque, planted years ago by the Islamic State group, during restoration work in the northern Iraqi cit Five “large-scale explosive devices, designed to trigger a massive destruction of the site,” were found in the southern wall of the prayer hall on Tuesday by the UNESCO team working at the site, a representative for the agency told AFP late Friday. Mosul’s Al-Nuri mosque and the adjacent leaning minaret nicknamed Al-Hadba or the “hunchback”, which dates from the 12th century, were destroyed during the battle to retake…
U.S. Treasury Secretary Janet L. Yellen delivered a compelling speech on extreme heat financing, co-hosted with Administrator Samantha Power. Addressing the increasing severity and frequency of extreme weather events, Yellen underscored the Treasury Department’s commitment to climate change mitigation and collaboration with multilateral development banks (MDBs). Yellen highlighted the significant progress made, including the mobilization of $115.9 billion to help developing countries combat climate change in 2022, with MDBs contributing 40%. Key achievements mentioned include: The African Development Bank’s Alliance for Green Infrastructure in Africa aiming to mobilize $10 billion. The Asian Development Bank’s record climate finance in 2023 and…
A badly wounded Joe Biden looked to get his re-election campaign back on track Friday after a debate performance that unnerved supporters and left allies of Donald Trump unable to conceal their glee. Democrats had hoped to see the president defiantly answering critics who say he is too old for a second term while hammering Trump on his criminal record and the threat they say he poses to democracy. Instead, many acknowledged, they got a faltering display from a candidate who sounded hoarse for much of the showdown, stumbled over words, pulled punches, often stared open-mouthed, and looked…
The Director-General of the Infrastructure Concession Regulatory Commission (ICRC), Mr. Michael Ohiani, has stated the urgent need for N348 trillion to address Nigeria’s infrastructure deficit. This announcement was made during the 2nd Quarter 2024 Nigeria Public-Private Partnership Network (NPPN) meeting, held on Wednesday in Minna. Speaking on the theme, “Using PPPs in Infrastructure Delivery in the States to Ensure National Food Security and Economic Growth,” Ohiani emphasized the critical role of the private sector. According to the Medium-Term Development Plan, the private sector is expected to contribute approximately N298.3 trillion, with sub-national governments providing an additional N49.7 trillion. …