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Thursday, 24 March 2022 06:15

FG, states, LGs share N590bn as FAAC allocation for February

Federation account allocation committee (FAAC) says it shared N590.546 billion to the federal government, states and local governments for February 2022. The figure represents an increase of N15.766 billion compared to last month. In February, the three tiers of government had received N574.66 billion for January, a decline compared to N699.82 shared for December 2021. The details are contained in a communiqué issued at the end of a virtual meeting of the FAAC for March 2022. According to the statement, a total of N590.55 billion distributable revenuecomprised distributable statutory revenue of N337.43 billion; distributable value-added tax (VAT) revenue of N165.64…

Thursday, 24 March 2022 06:14

What to know after Day 28 of Russia-Ukraine war

Ukrainian President Volodymyr Zelenskyy called for people around the world to show support for Ukraine on Thursday, which will mark the start of the second month of Russia’s invasion of his country. In his nightly video address to his people late Wednesday, Zelenskyy also called on NATO to provide Ukraine with “effective and unrestricted” support to Ukraine, including any weapons it needs to fend off the invasion. His office said he will address the alliance’s summit on Thursday by video. Zelenskyy’s impassioned call for more support capped a day in which Russian forces continued to bombard Ukrainian cities, as Ukraine’s…

Thursday, 24 March 2022 06:13

Russia has threatened to use nuclear weapons if faced with ‘existential threats’. This is what US is doing in preparation

The White House has quietly assembled a team of national security officials to sketch out scenarios of how the United States and its allies should respond if President Vladimir Putin of Russia — frustrated by his lack of progress in Ukraine or determined to warn Western nations against intervening in the war — unleashes his stockpiles of chemical, biological or nuclear weapons. The Tiger Team, as the group is known, is also examining responses if Putin reaches into NATO territory to attack convoys bringing weapons and aid to Ukraine, according to several officials involved in the process. Meeting three times…

Thursday, 24 March 2022 06:12

Consequences of any Russia-NATO clash would be grave - Kremlin

The Kremlin on Wednesday said any possible contact between the Russian military and NATO forces could have grave consequences, after Poland last week said peacekeepers should be sent to Ukraine. Kremlin spokesperson Dmitry Peskov said Poland’s idea was reckless and extremely dangerous. “Any possible confrontation between our troops and NATO forces could have clear consequences that would be hard to repair,” Peskov told reporters. Reuters

Thursday, 24 March 2022 06:11

US to blame if war degenerates into nuclear war, ex-Russian president warns

One of President Vladimir Putin’s closest allies warned the United States on Wednesday that the world could spiral towards a nuclear dystopia if Washington pressed on with what the Kremlin casts as a long-term plot to destroy Russia. Dmitry Medvedev, who was president from 2008 to 2012 and is now deputy secretary of Russia’s Security Council, said the United States had conspired to destroy Russia as part of an “primitive game” since the 1991 fall of the Soviet Union. “It means Russia must be humiliated, limited, shattered, divided and destroyed,” Medvedev, 56, said in a 550-word statement. The views of…

Wednesday, 23 March 2022 06:41

The 36 states and FCT had combined debt of N6.43trn as at end of 2021. This is what your state is owing

The total debts owed by state governments and the Federal Capital Territory Administration rose to N6.43tn at the end of 2021. While sub-national domestic debt stock was N4.46tn, the sub-national external debt stock was N1.97tn in 2021. Lagos, Ogun and Rivers became the three most indebted states, according to the latest data from Debt Management Office. The N4.46tn domestic debt represents 11.27 per cent of the country’s domestic debt stock of N23.70tn as of December 2021, up from N20.21tn in the previous year. Lagos, Ogun, Rivers, Akwa Ibom, and Imo emerged as the top five debtors, with a combined domestic…

Wednesday, 23 March 2022 06:39

Buhari commissions new Lagos airport terminal

President Muhammadu Buhari has said the newly built international terminal of the Murtala Muhammed Airport in Lagos will create 3,000 direct and indirect employment jobs for Nigerian youth. Buhari said this as he commissioned the new terminal on Tuesday. “This improvement will increase airport operation and management services to about 14 million passengers per annum. With a positive multiplier effect by creating 3,000 direct and indirect employment opportunities for our youth,” Buhari said. Also, the president said the terminal will increase inflow of foreign direct investment and exponential growth in the Growth Domestic Product (GDP). According to the Nigeria Bureau…

Wednesday, 23 March 2022 06:38

IGP begins visits to police formations nationwide to avert planned strike by officers

Representative of the Inspector General of Police, Usman Alkali Baba, on Tuesday met with police officers in the Ogun State Command over a threat to embark on strike by the junior officers. Some aggrieved rank and file in the Nigeria Police Force, according to reports, threatened the strike, over poor salary, lack of sophisticated weapons to fight crime, bad condition of their barracks, failure to provide uniforms, among others. It was gathered that the Police IG had begun meeting with the police officers nationwide over the looming strike. The IG represented by the Deputy Inspector General of Police in charge…

Wednesday, 23 March 2022 06:32

China warns US against forming 'Indo-Pacific NATO'

China's NATO blame game in the wake of Russia's invasion of Ukraine has been brought back to Asia, where Beijing says U.S. alliance-building could result in a great power clash before long. The Chinese leadership's decision to side with Russia came long before Vladimir Putin ordered troops across lines of control into Ukrainian-held territory on February 24. Officials in Beijing sympathize with Moscow's grievances against the West because they perceive a similar U.S.-led containment effort happening around them, despite American assurances that it's not the case. From China's perspective, a contested land border with India as well as maritime and…

Wednesday, 23 March 2022 06:31

What to know after Day 27 of Russia-Ukraine war

The battle for Ukraine’s cities thundered across its suburbs Tuesday, with the Ukrainian military saying it forced Russian troops out of a strategically important Kyiv suburb, while Russian forces took partial control of three northwest areas where there’s been fighting for weeks. A senior U.S. defense official said Tuesday that Russian ground forces were still largely stalled outside the capital city, but Russian ships spent the past day shelling the already devastated southern port city of Mariupol from offshore. Civilians making the dangerous escape from Mariupol described fleeing through street gun battles and past corpses as Russian forces tried to…

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Wednesday, 23 March 2022 06:29

Ukraine’s poultry industry destroyed in war with Russia

Ukraine poultry companies report major losses caused by the Russian invasion and direct attacks on poultry production assets and warehouses. Ukraine’s largest egg producer, Avangard, said that the Russian aggression caused significant losses in production capacity, with several key egg farms shut down and destroyed, while at some operational farms the birds were left without feed and “condemned to death”. To date, the overall financial losses the company sustained have reached 1.5 billion hryvnias (US$51 million). Almost the entire flock slaughtered “In particular, Europe’s largest egg cluster, Chornobayivska in Kherson Region, has lost the ability to feed the birds, transport…

Tuesday, 22 March 2022 06:17

FG issues new guidelines on Covid-19 for travellers arriving Nigeria

Fully vaccinated travellers coming into Nigeria will no longer be required to take a pre-departure PCR Covid-19 test. This is according to the Chairman of the Presidential Steering Committee, Boss Mustapha. Mustapha made the comment on Monday during a briefing of the PSC announcing a revision of International Travel Protocols. However, passengers who are unvaccinated or partially vaccinated are still expected to take a Covid-19 PCR test 48 hours before departure, or do a Day 2 and day 7 test on arrival. Such passengers, he said, will be expected to pay for their PCR tests through the Federal Government’s travel…

Tuesday, 22 March 2022 06:16

CBN keeps rates unchanged, signals tightening

Central Bank of Nigeria (CBN) on Monday announced its decision to keep benchmark rates unchanged, its governor said, a day earlier than scheduled to avoid falling into limbo because several monetary policy committee (MPC) members are retiring on Tuesday. Three rate setters voted to raise rates by 25 basis points and one for a 50 basis point hike. Six others voted to hold rates, marking the 10th decision to hold rates steady since the bank cut them in September 2020. Governor Godwin Emefiele said the decision was to boost its fragile economy and counter potential headwinds from the Ukraine war…

Tuesday, 22 March 2022 06:11

What to know after Day 26 of Russia-Ukraine war

The battle for Ukraine’s strategic port of Mariupol raged on Monday, as Ukraine rejected a Russian offer to evacuate its troops from the besieged city. Russian bombardment continued to hit it and other cities in Ukraine. Ukrainian President Volodymyr Zelenskyy said about 400 civilians were taking shelter at an art school in the Sea of Azov port city when it was struck by a Russian bomb. Warning that relations with the U.S. are “on the verge of a breach,” Russia has summoned the U.S. ambassador to protest President Joe Biden’s criticism of Russian President Vladimir Putin. Russia’s war in Ukraine,…

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