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Monday, 17 April 2023 03:19

Aviation workers strike to ground airports operations today, tomorrow

Baring any unforeseen circumstances, airports across Nigeria will be shut down today as aviation unions commence a two-day warning strike over non-release of their reviewed Condition of Service negotiated with four aviation agencies over seven years in addition to the planned demolition of Lagos offices of some agencies. Last week, Secretary Generals of the National Union of Air Transport Employees (NUATE), Ocheme Aba, Air Transport Services Senior Staff Association of Nigeria (ATSSSAN), Frances Akinjole, Association of Nigeria Aviation Professionals (ANAP), AbdulRasaq Saidu, Amalgamated Union of Public Corporation Civil Service Technical and Recreation Services Employees (AUPCTRE), Sikiru Wahab and the Deputy…

Monday, 17 April 2023 03:15

What to know after Day 417 of Russia-Ukraine war

RUSSIAN PERSPECTIVE Putin meets with Chinese defense minister President Vladimir Putin has personally greeted China's State Councilor and Defense Minister Li Shangfu at the Kremlin on Sunday, alongside his Russian counterpart Sergey Shoigu. The defense chief, who happens to be under Russia-linked US sanctions, arrived in Moscow for a three-day visit – the first foreign trip since his appointment last month. According to the transcript of the meeting shared by the Kremlin, Putin noted the “active” and comprehensive cooperation between Moscow and Beijing in the defense sphere, including constant exchanges of “useful information,” military-technical cooperation, and joint military exercises in…

Sunday, 16 April 2023 03:23

Military rivals in Sudan fighting for control of government kill at least 25

Sudan's military launched air strikes on a paramilitary force's base near the capital in a bid to reassert control over the country on Sunday as clashes killed at least 25 people and threatened efforts to transition to civilian rule. At the end of a day of heavy fighting, the army struck a base belonging to the government's paramilitary Rapid Support Forces (RSF) in the city of Omdurman, which adjoins the capital Khartoum, eyewitnesses said late on Saturday. The Sudanese Doctors' Union earlier reported at least 25 people were killed and 183 wounded in battles that erupted on Saturday between the…

Sunday, 16 April 2023 03:20

Nigeria’s inflation rises to 22.04 percent

The consumer price index (CPI), which measures the rate of change in prices of goods and services, rose to 22.04 percent in March 2023, up from 21.91 percent in the previous month. The inflation rate data is contained in the latest CPI report released on Saturday by the National Bureau of Statistics (NBS). The March increase comes across as the third consecutive surge in the country’s inflation figure since the year began. According to the NBS report, “the March 2023 inflation rate showed an increase of 0.13 percent points when compared to February 2023 headline inflation rate”. “On a year-on-year…

Sunday, 16 April 2023 03:19

What to know after Day 416 of Russia-Ukraine war

WESTERN PERSPECTIVE Poland, Hungary ban grain, food imports from Ukraine Poland and Hungary have decided to ban imports of grain and other food from neighbouring Ukraine to protect the local agricultural sector, the two governments said on Saturday, after a flood of supply depressed prices across the region. Ukraine expressed regret about the Polish decision, saying that "resolving various issues by unilateral drastic actions will not accelerate a positive resolution of the situation". After Russia's invasion blocked some Black Sea ports, large quantities of Ukrainian grain, which is cheaper than that produced in the European Union, ended up staying in…

Saturday, 15 April 2023 03:39

One person dead, 25 rescued alive from collapsed Banana Island building

One body has been recovered from the rubble of the collapsed building at 1st Avenue, Banana Island, Ikoyi area of Lagos. The body was recovered following the search and recovery efforts of workers of the Lagos State Emergency Management Agency (LASEMA). The building, which was under construction, collapsed on Wednesday evening, with some workers trapped under the rubble. In a statement on Friday, Gbenga Omotoso, commissioner for information and strategy, said the excavation of the collapsed building was still ongoing. The commissioner said the identity of the body recovered was yet to be known, adding that everyone in the building…

Saturday, 15 April 2023 03:39

What to know after Day 415 of Russia-Ukraine war

WESTERN PERSPECTIVE Eight dead in Sloviansk strike as Ukrainians said to pull back in Bakhmut A Russian missile strike killed eight people in eastern Ukraine on Friday as a British assessment said Ukrainian troops had been forced to withdraw from parts of the city of Bakhmut, the focus of Moscow's slow advance through the region. Ukrainian troops have been doggedly defending Bakhmut, shattered after months of shelling and bombardment. Ukrainian military commanders this week rejectedas exaggerated Russian statements that its forces now controlled 80% of the city. In Sloviansk, a city west of Bakhmut that Russia is seeking to capture,…

Friday, 14 April 2023 03:49

FG to borrow funds mopped up by CBN from dormant bank accounts, others - Report

Central Bank of Nigeria has proposed that banks should transfer funds in accounts that have been dormant for up to 10 years into a trust fund account. This is contained in the recently released exposure draft of guidelines on the Management of Dormant Accounts, Unclaimed Balances and Other Financial Assets in Banks and Other Financial Institutions In Nigeria. A circular accompanying the exposure draft stated that the guideline was in response to requests from banks and other stakeholders for the CBN to clarify the procedures for the management of dormant and inactive accounts by banks in the country. The circular,…

Friday, 14 April 2023 03:48

N19trn spent on fuel subsidies in 17 years; N16trn lost to oil theft in 12 years - NEITI

Nigeria has spent over N13 trillion or $74 billion on fuel subsidies in 16 years, which is between 2005 and 2021. Executive Secretary, Nigeria Extractive Industries Transparency Initiative (NEITI), Orji Ogbonnaya Orji, who stated this at a policy dialogue on oil swap in Abuja on Thursday, said the removal of fuel subsidy and full deregulation of the petroleum sector will end oil swaps, which have also failed. Adding an estimated N6trn spending on petrol subsidy between 2022 and June 2023 to the N13trn fuel subsidies cost, the amount will have reached N19trn in about 17 years. Citing NEITI’s recent policy…

Friday, 14 April 2023 03:44

What to know after Day 414 of Russia-Ukraine war

RUSSIAN PERSPECTIVE US smart bombs miss Russian targets – Pentagon leak Pentagon officials have reportedly expressed concern that US-produced smart bombs provided to Ukraine are being electronically jammed by Russian forces, causing them to miss their targets. The precision-guided bombs, which are among the increasingly advanced weaponry that Washington has been providing to Kiev, have been rendered “useless” by Russian jamming tactics, Politico reported on Wednesday, citing leaked Pentagon documents. The US media outlet added that an unidentified Pentagon official confirmed the authenticity of the documents. The US has given Ukraine the long-range version of its Joint Direct Attack Munitions…

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Thursday, 13 April 2023 03:17

FG to borrow another N360bn via bonds at N1,000 per unit

Debt Management Office has listed four Federal Government of Nigeria bonds valued at N360 billion for subscription at N1,000 per unit. The first offer is a February 2028 FGN Bond, valued at N90 billion, at an interest rate of 13.98 per cent per annum (10-year re-opening). The second offer is an April 2032 FGN Bond, valued at N90 billion, with an interest rate of 12.50 per cent per annum (10-year re-opening). There is also the Jan 2042 FGN Bond valued at N90 billion, with an interest rate of 13.00 per cent per annum (20-year re-opening). The fourth offer is the…

Thursday, 13 April 2023 03:16

7-storey building collapses in Lagos high-brow Banana Island, workers trapped

A seven-storey building under construction on Banana Island, Lagos State, has collapsed, trapping several workers. Emergency responders were immediately mobilised to the scene of the building collapse. Lagos Territorial Head of the National Emergency Management Agency (NEMA) confirmed the incident in a brief update Wednesday evening. “Report of a building under construction was just received at Banana Island. Workers trapped. We are mobilising to respond,” he said. Giving an update on the building collapse, Deputy Director, Public Affairs Ministry of Physical Planning and Urban Development, Mukaila Sanusi, said “an unapproved 7-floor building under construction collapsed.” He said, “Few who sustained…

Thursday, 13 April 2023 03:15

What to know after Day 413 of Russia-Ukraine war

WESTERN PERSPECTIVE Kyiv denies Wagner Bakhmut claim, Russia says forces advancing Ukraine and Russia traded barbs on Wednesday over how much Kremlin's forces control the city of Bakhmut, for months the focal point of Moscow's bid to advance through eastern Ukraine. Ukraine's military said it controlled "considerably" more than 20% of the city. The claim by Russian entrepreneur Yevgeny Prigozhin that his Wagner mercenary group had seized more than 80% of Bakhmut was untrue, it said. Russia's Defence Ministry retorted that Wagner forces had captured three city blocks. And Russian forces, it said, had struck Ukrainian army reserves trying to…

Wednesday, 12 April 2023 03:29

What to know after Day 412 of Russia-Ukraine war

RUSSIAN PERSPECTIVE Pentagon leak exposes NATO special forces in Ukraine One of classified US military documents that has made its way online shows the presence of 97 NATO special forces operators in Ukraine as of March 1, 2023, of which 50 were British, multiple UK outlets reported on Tuesday. The Guardian said it had seen two files, dated late February and early March, that listed 50 British special operatives as being active in Ukraine. The US had 14 special operatives in the country, and France another 15. The documents were labeled “secret” and were prepared for senior US defense officials,…

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