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Tuesday, 20 September 2022 04:05

Portugal says could face shortage if Nigeria does not deliver all LNG due

Portugal could face supply problems this winter if Nigeria does not deliver all the liquefied natural gas (LNG) it is due to, the European Union country's environment and energy minister said on Monday. Asked whether with many countries now looking for alternatives to Russian gas there was a chance that Nigeria might not meet its LNG supply volumes, Duarte Cordeiro said that while the government had given Lisbon assurances that it would do so, "there is a risk of it not complying". "From one day to another, we may have a problem, such as not being supplied the volume of…

Tuesday, 20 September 2022 04:04

What to know after Day 209 of Russia-Ukraine war

A Russian missile blasted a crater close to a nuclear power plant in southern Ukraine on Monday, damaging nearby industrial equipment but not hitting its three reactors. Ukrainian authorities denounced the move as an act of “nuclear terrorism.” The missile struck within 300 meters (328 yards) of the reactors at the South Ukraine Nuclear Power Plant near the city of Yuzhnoukrainsk in Mykolaiv province, leaving a hole 2 meters (6 1/2 feet) deep and 4 meters (13 feet) wide, according to Ukrainian nuclear operator Energoatom. The reactors were operating normally and no employees were injured, it said. But the proximity…

Monday, 19 September 2022 06:53

Nigeria lost further 100,000b/d oil production capacity within one month - Report

Nigeria’s crude oil revenue has continued to slump as the Organization of the Petroleum Exporting Countries’ newly released Monthly Oil Market Report for September revealed that the country’s crude oil output fell to 900,000 barrels per day (b/d) last month. According to the OPEC report, Nigeria’s crude oil production (according to data reported by direct sources) dropped from 1 million b/d recorded in July, to 900,000b/d in August. This is as the price of the country’s crude grade, Bonny Light, also dropped by 10 per cent within the space of one month (July-August). Bonny Light, which was sold for $117/b…

Monday, 19 September 2022 06:48

What to know after Day 208 of Russia-Ukraine war

Ukrainian President Volodymyr Zelenskiy vowed there would be no let up in fighting to regain territory lost to Russia after the top U.S. general warned it was unclear how Moscow would react to its battlefield setbacks in Ukraine. FIGHTING * A top U.S. general visited a military base in Poland hosting U.S. troops. U.S. Army General Mark Milley, chairman of the Joint Chiefs of Staff, called for vigilance saying the war was "not going too well for Russia right now". * Russia has likely extended the locations it is prepared to strike in a move to undermine the morale of…

Sunday, 18 September 2022 06:52

Buhari, Osinbajo depart Nigeria; President for UN General Assembly, VP for Queen’s burial

PRESS RELEASES President Muhammadu Buhari will depart Abuja, Sunday, September 18, for New York, United States to attend the annual meeting of world leaders, the United Nations General Assembly (UNGA77). The theme for the 77th session which opened on Tuesday, September 13 is: “A watershed Moment: Transformative Solutions to Interlocking Challenges.” Key topics of discussion at the UNGA this year include; the war in Ukraine, the energy crisis, climate action, ending the Covid-19 pandemic, and a special Transforming Education Summit. Buhari will take his turn to deliver the National Statement on the second day of the General Debates on Wednesday,…

Sunday, 18 September 2022 06:50

Diesel costs more than double revenue from ticket sales on Lagos-Ibadan train service - NRC

The amount spent daily on fueling the trains that operate on the Lagos-Ibadan Train Service is 135.3 per cent higher than what the Nigeria Railway Corporation earns from the sale of tickets to passengers, it was learnt on Friday. It was also gathered that NRC had to reduce the trips on its Warri-Itakpe and Lagos-Ibadan train services by half due to the hike in diesel price, as well as the negative impact on railway services caused by the March 28, 2022 bombing of the Abuja-Kaduna train. Managing Director, NRC, Fidet Okhiria, told our correspondent in Abuja that though passengers were…

Sunday, 18 September 2022 06:48

What to know after Day 207 of Russia-Ukraine war

Russia's defence ministry said on Saturday that its forces had launched strikes on Ukrainian positions in several parts of Ukraine, and accused Kyiv of carrying out shelling near the Zaporizhzhia nuclear power plant. Russian forces conducted their strikes in the Kherson, Mykolaiv, Kharkiv and Donetsk regions, according to the ministry, which added that Ukrainian forces had carried out an unsuccessful offensive near Pravdyne in Kherson. Radiation levels at Zaporizhzhia, Europe's biggest nuclear power plant, remain normal, according to the ministry. It said two incidents of Ukrainian shelling were recorded near the plant on Saturday. A spokesperson for Ukraine's foreign ministry…

Saturday, 17 September 2022 06:43

FG-owned Aviation University will start registration Sept 26. Here are details of how and where the university will run

Hadi Sirika, minister of aviation, says the federal government has commenced plans to enroll students in its aviation and aerospace university. Sirika disclosed this at an interactive session with journalists on Friday. In 2017, the federal government had announced that it would established a university to produce aircraft in the future. Sirika, at the media briefing, said the university is named Aviation and Aerospace University (AAU) and will be located in Abuja. He said the varsity would commence registration for the 2022/2023 academic session from September 26, 2022 to November 18, adding that the take-off followed a provisional approval by…

Saturday, 17 September 2022 06:41

What to know after Day 206 of Russia-Ukraine war

Russian President Vladimir Putin vowed Friday to press his attack on Ukraine despite Ukraine’s latest counteroffensive and warned that Moscow could ramp up its strikes on the country’s vital infrastructure if Ukrainian forces target facilities in Russia. Speaking to reporters Friday after attending a summit of the Shanghai Cooperation Organization in Uzbekistan, Putin said the “liberation” of Ukraine’s entire eastern Donbas region remained Russia’s main military goal and that he sees no need to revise it. “We aren’t in a rush,” the Russian leader said, adding that Moscow has only deployed volunteer soldiers to fight in Ukraine. Some hard-line politicians…

Friday, 16 September 2022 07:04

Buhari inducts 286 Americans, Italians, Chadians, others who acquired Nigerian citizenship

PRESS RELEASE President Muhammadu Buhari on Thursday in Abuja awarded Nigerian citizenship to 286 nationals, urging them to be good citizens of the country to enjoy all the rights and privileges bestowed on them. ''You have pledged your allegiance to Nigeria. When you give your love and loyalty to Nigeria, she returns her love and loyalty to you,'' the President told the awardees during an event at the State House. The President explained that out of the 286 foreign nationals presented with certificates of Nigerian Citizenship, 208 received certificates for Naturalization, while 78 got certificates by Registration. He urged them…

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Friday, 16 September 2022 07:02

Nigeria’s inflation worsens, hits 17-year high

Nigeria’s inflation rate reached a 20 per cent mark in August 2022, reflecting the rising cost of living crisis facing Nigerian families and firms. It was the biggest inflation numbers since October 2005 with the cost of food hitting 23.12 per cent on a year-on-year basis, representing a 2.82 percent increase from 20.30 per cent in August 2021. On a month-on-month basis, inflation rose to 20.52 per cent in August, from 19.64 per cent in July, according to the latest Commodity Price Index report published by the National Bureau of Statistics on Thursday. The CPI measures the average monthly change…

Friday, 16 September 2022 07:01

DMO has revised FG’s borrowing plan. This is the new schedule

Debt Management Office (DMO) has reviewed its bonds issuance calendar for the third quarter of 2022. According to the revised calendar, the DMO is scheduled to raise about N720 billion through some re-opened Federal Government of Nigeria (FGN) bonds. On 19 July, the office was scheduled to re-open a March 2025 FGN bond valued at between N70 billion to N80 billion, at an interest rate of 13.53 per cent per annum. It has a two years, eight months maturity period, with an original tenor of seven years. On the same date (19 July), the DMO re-opened an April 2032 FGN…

Friday, 16 September 2022 07:00

Falana asks EFCC to investigate NNPC’s fuel importation figures, promises to assist investigation

Femi Falana, human rights lawyer and senior advocate of Nigeria (SAN), has asked the Economic and Financial Crimes Commission (EFCC) to investigate Nigeria’s fuel importation as well as mismanagement of fuel subsidy by the Nigerian National Petroleum Company (NNPC) Limited. Falana said this in a letter dated September 12, written to Abdulrasheed Bawa, chairman of EFCC. He also asked the commission to investigate petrol smuggling activities to neighbouring countries. Earlier in the month, the Nigeria Customs Service (NCS) had faulted claims by NNPC Limited that Nigerians consume “60 million litres of petrol daily”. It further alleged that the oil company…

Friday, 16 September 2022 06:58

What to know after Day 205 of Russia-Ukraine war

Ukrainian authorities found a mass grave containing 440 bodies in the northeastern town of Izium that was recaptured from Russian forces days ago, officials said, including some people killed by shelling and air strikes. Thousands of Russian troops fled Izium last weekend after occupying the city and using it as a logistics hub in the Kharkiv region. They left behind large amounts of ammunition and equipment. "Mass graves are being discovered in Izium after liberation from the (Russians)", with the largest burial site holding 440 unmarked graves, the Ukrainian defence ministry tweeted. Serhiy Bolvinov, the chief police investigator for Kharkiv…

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