Fuel price soars by 81% despite N6tn subsidy payment – Report
The price of Premium Motor Spirit popularly called petrol has risen by 81 per cent in the past three years, according to the National Bureau of Statistics reports analysed by our correspondent. This came as findings showed that the Federal Government has paid about N5.83tn subsidy on petroleum products. NBS data showed that between February 2020 and February 2023, the price...
May 29 Inauguration: Tinubu to inherit insecurity, subsidy crisis, economic instability, others
In less than two months, precisely May 29, Bola Tinubu will be inaugurated as the President of the Federal Republic of Nigeria. The incoming administration will be inheriting a lot of challenges that defied solutions under President Muhammadu Buhari’s tenure. Nigeria has been riddled with lots of economic challenges ranging from high rates of loans, inflation, unemployment, poverty, among others. A report...
FG, Peter Obi bicker over leaked audio conversation with Oyedepo
Clarify position, FG challenges Obi FG should be ashamed of its failures, barefaced lies — LP PCC The Federal Government and the Labour Party, LP, presidential candidate, Mr Peter Obi, was yesterday at daggers-drawn over the latter’s alleged audio conversation with the founder of Living Faith Church Worldwide, Bishop David Oyedepo. In the controversial leaked audio of the conversation on the eve...
Tinubu won presidential poll, INEC tells tribunal
The Independent National Electoral Commission has asked the Presidential Election Petitions Tribunal in Abuja to dismiss all the petitions challenging the declaration of Bola Tinubu of the All Progressives Congress as the winner of the February 25 presidential election. INEC had declared that Tinubu polled 8,794,726 votes to win the election. The commission declared that the presidential candidate of the Peoples...
Nigerian unemployment rate to hit 41% in 2023 – KPMG
KPMG has stated that the Nigerian unemployment rate had increased to 37.7per cent in 2022 and will further rise to 40.6per cent, due to the continuing inflow of job seekers into the job market. The multinational consulting firm, in a newly released report tagged ‘KPMG Global Economy Outlook report, H1 2023,’ said unemployment will continue to be a challenge due...
Nigerian Newspapers: 10 things you need to know this Tuesday morning
Good morning! Here is today’s summary from Nigerian Newspapers: 1. The Christian Association of Nigeria (CAN) has condemned FrieslandCampina WAMCO Nigeria PLC, makers of Peak Milk, over what it called an offensive Easter advert. In a statement on Monday, General Secretary of CAN, Barrister Joseph Daramola, asked the company to retract the advert, tender an apology to Christians or face...
Fuel subsidy: Controversy over $800m World Bank loan to Nigeria
Nigeria’s economy has been laced with confusion and anxiety over the World Bank’s $800 million loan to the country as a palliative to cushion the effect of the proposed fuel subsidy removal by June. Muhammadu Buhari’s government has repeatedly disclosed its intention to halt fuel subsidies before the inauguration of the incoming administration on 29th May, 2023. As the clock ticks,...
Insecurity: Buhari leaving Nigeria far better than he met it — Presidency
THE Presidency, last night, said President Muhammadu Buhari will be leaving Nigeria better than he met it in 2015 in terms of security and economy. The Presidency also defended President Buhari on his alleged lopsided appointments of security heads in the past eight years, saying appointment of service chiefs and heads of security agencies cannot be subjected to ethnic balancing...
Buhari greets Dangote at 66
•Says he’s given new heights to Nigeria’s prestige, global reputation President Muhammadu Buhari yesterday greeted leading businessman and philanthropist, Aliko Dangote, as he marks his 66th birthday, wishing him a long, healthy life and a joyful year ahead. President Buhari commended him for the numerous efforts he is making for the nation’s progress. The President in a statement by his Senior Special Assistant...
FCT Police busts criminal syndicate terrorising Abuja community
•Arrests 40 suspects, to review video alleging use of disproportionate force THE Federal Capital Territory, FCT, Police Command, has busted criminal syndicate terrorising Abuja community, as operatives arrested no fewer than 40 suspected members of the notorious criminal syndicate in Gishiri village in the FCT. The operation was carried out by the Mabushi Police Division, following extensive intelligence gathering and surveillance. However,...
