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Thursday, 08 September 2022 06:50

What to know after Day 197 of Russia-Ukraine war

Russian President Putin raised the idea of adding limits to a U.N.-brokered deal for Ukrainian grain exports via the Black Sea and threatened to halt all energy supplies to Europe if Brussels caps the price of Russian gas. ENERGY * The European Union's proposed price cap on Russian gas raises the risk of rationing in some of the world's richest countries this winter. * Ukraine said on Wednesday it might have to shut down the Russian-occupied Zaporizhzhia nuclear power plant to avoid a disaster and called on residents in areas nearby to evacuate. GRAIN * Senior U.N. and Russian officials…

Wednesday, 07 September 2022 06:57

Meetings chaired by Minister of Education have been going on towards resolving months-old ASUU strike. This is what FG is offering

Federal government says it can only afford a 23.5 percent salary increase for lecturers of all categories, except professors. Adamu Adamu, minister of education, said this on Tuesday at a meeting with pro-chancellors and vice-chancellors of federal universities on the ongoing strike by the Academic Staff Union of Universities (ASUU). Speaking at the meeting, which held in Abuja, Adamu said aside from the salary increment, the government made other offers regarding the demands of ASUU. “That the federal government can only afford a 23.5% salary increase for all categories of the workforce in federal universities, except for the professorial cadre…

Wednesday, 07 September 2022 06:53

NSCDC dissolves anti-oil theft squad nationwide over ‘non-satisfactory’ performance

Commandant General of Nigeria Security and Civil Defence Corps (NSCDC), Ahmed Audi, has dissolved the corps’ anti-vandalism units nationwide. Audi gave the dissolution order during a meeting with senior officers and all state commandants of the corps on Tuesday in Abuja. He said the action was sequel to insinuations and reports in the public domain that security operatives were likely involved in oil theft and related crimes. “There are also reports that our officers are doing their jobs, but not satisfactorily enough,” he said. The commandant-General said the squad would be reconstituted in due time for better service delivery. He…

Wednesday, 07 September 2022 06:52

Fuel queues return to Abuja as marketers shut stations

Many fillings stations were shut on Tuesday leading to lengthy queues by motorists for Premium Motor Spirit, popularly called petrol, at the few outlets that dispensed the commodity in Abuja and neighbouring states. Petrol scarcity resumed again in the Federal Capital Territory and environs on Tuesday after about a month break, as motorists and other PMS users imagined when they would see the last of fuel queues in Abuja. The petrol scarcity and its attendant queues on Tuesday were due to the warning strike embarked upon by the Suleja Depot Branch of the Independent Petroleum Marketers Association of Nigeria. The…

Wednesday, 07 September 2022 06:49

Russia is cutting off gas flow to Europe. Here’s what that means for both parties

Europe is struggling to contain an energy crisis that could lead to rolling blackouts, shuttered factories and a deep recession. The primary cause: Russia has choked off the supplies of cheap natural gas that the continent depended on for years to run factories, generate electricity and heat homes. That has pushed European governments into a desperate scramble for new supplies and for ways to blunt the impact as economic growth slows and household utility bills rise. The crisis deepened when Russia’s state-owned exporter Gazprom said the main pipeline carrying gas to Germany would stay closed, blaming an oil leak and…

Wednesday, 07 September 2022 06:45

What to know after Day 196 of Russia-Ukraine war

Ukrainian forces shot down five Russian cruise missiles on Tuesday, most of them in the south, President Volodymyr Zelenskiy said, but he made no mention of a new military success in the east hinted at by officials earlier. ENERGY * United Nations chief Guterres urged Russia and Ukraine on Tuesday to agree a demilitarized perimeter around the Russian-held Zaporozhzhia nuclear power plant. * Russia's Gazprom says it has signed an agreement to start switching payments for gas supplies to China to yuan and roubles instead of dollars. BATTLEFIELD REPORTS * The Russian-installed commandant of a southern Ukrainian city was badly…

Tuesday, 06 September 2022 06:29

Daily petrol consumption cited by NNPCL not true; subsidy amount quoted by Finance Minister incorrect - Regulator

Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says Nigeria consumes 62.9 million litres of petrol a day. NMDPRA’s Head of Finance and Account, Adebayo Adeniyi, disclosed this while appearing before the House of Representatives Committee on Finance on Monday in Abuja. He said the agency arrived at the figure based on the official trucks out from depots. “The average daily truck-out for 2022 is 62.95 million litres per day. This from the actual truck-out,” Adeniyi said. He added that “what we gave you is what is obtainable as an actual truck-out. When we say truck-out, we mean from the…

Tuesday, 06 September 2022 06:26

FG suspends 5 percent excise duty on telecom services

Isa Pantami, minister of communications and digital economy, says the federal government has suspended a five percent excise duty on telecommunications services in Nigeria. According to The Punch, Pantami announced this on Monday during the inaugural meeting of the presidential committee on excise duty for the digital economy sector in Abuja. The minister said the sector is already overburdened by excessive and multiple taxations. TheCable had reported that Pantami faulted the government’s plan to implement the tax. But Zainab Ahmed, minister of finance, budget and national planning, had insisted that the federal government would go ahead to implement the five…

Tuesday, 06 September 2022 06:25

Electricity firms fail to utilise 1,936MW despite power outages – FG

The 11 power distribution companies in Nigeria did not utilise a total of 1,936.26 megawatts of electricity in one week amidst the country’s limited power generation, the latest data on the daily Discos load summary from the Federal Ministry of Power, showed. Figures contained in the load summary obtained in Abuja on Monday, indicated that the power firms did not utilise the 1,936.26MW between August 13 to 19, 2022 due to various concerns such as electricity theft, poor payment of bills, etc, in the distribution subsector. The 11 power distribution companies include Abuja, Benin, Eko, Enugu, Ibadan, Ikeja, Jos, Kaduna,…

Tuesday, 06 September 2022 06:24

Ukraine’s Premier wants war to end soon as time favours Russia - Bloomberg

Ukraine’s allies should do their utmost to help end Russia’s invasion fast as Moscow is willing to keep fighting for a long period, Ukrainian Prime Minister Denys Shmyhal said. “We understand that time will play to Russia’s side so we, all together with our allies, with our partners” should do our best “to finish this war as soon as possible,” Shmyhal told Bloomberg TV in an interview in Brussels. Russia “is interested to go for longer time, to take more time,” which is “a challenge for all of us,” he added. Ukraine is scoring some military successes in its southern…

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Tuesday, 06 September 2022 06:23

What to know after Day 195 of Russia-Ukraine war

The U.N. nuclear watchdog is due to issue a report on the Zaporizhzhia nuclear power station in Ukraine on Tuesday, a day after shelling cut its electricity supplies for the second time in two weeks and raised fears of catastrophe. ENERGY * International Atomic Energy Agency said Zaporizhzhia nuclear power plant has enough electricity to operate safely, will be reconnected to the grid once backup power restored. IAEA to issue a report on Ukraine, including the plant, on Tuesday and brief the U.N. Security Council. * Ukrainian President Volodymyr Zelenskiy warned of a near "radiation catastrophe" and said the shelling…

Monday, 05 September 2022 06:37

Nigeria to pay $496m to settle Indian firm’s claims over failed steel deals

Nigeria has agreed to pay $496 million to settle a multi-billion dollar claim from Global Steel Holdings Ltd following the termination of a contract to upgrade the country’s steel plants, the presidency said on Saturday. Global Steel, which is linked to India’s Mittal family, had between 2004-7 acquired rights to Nigeria’s entire state steel industry via five major concessions and share purchase contracts. The deal also included access to Nigeria’s iron ore reserves and the central railway network. But in 2008, the government of the late Umaru Yar’Adua terminated the contracts. Global Steel sought arbitration at the International Chamber of…

Monday, 05 September 2022 06:29

What to know after Day 194 of Russia-Ukraine war

European leaders on Sunday sought to ease the impact of high energy prices across the continent, after Ukrainian President Volodymyr Zelenskiy warned of a difficult winter, even as he reported progress in a counter-offensive against Russian troops. Zelenskiy thanked his forces in his nightly address on Sunday for taking two settlements in the south and a third in the east, as well as additional territory in the east, saying he had received "good reports" from his military commanders and head of intelligence. Kyrylo Tymoshenko, deputy head of the president's office, earlier on Sunday posted an image of soldiers raising the…

Sunday, 04 September 2022 06:55

Foreign contractor suspends work on Port Harcourt-Maiduguri rail project over insecurity

Mu’azu Sambo, minister of transportation, says work on the Port Harcourt-Maiduguri rail line has been suspended. According to a statement issued on Saturday, he spoke during an inspection tour of the project in Port Harcourt, Rivers state capital. He said the suspension was due to insecurity and vandalism of railway properties along the corridor. Sambo said the China Civil Engineering and Construction Company (CCECC), the contractor handling the rehabilitation and reconstruction of the project, had complained of attacks on its workers along the Abia state axis. “I am very displeased by these acts and I condemn it in strong terms,”…

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