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The Federal Government disbursed a total of N1.03tn to fight against insecurity and terrorism between January and June 2024. In the budget implementation report for the first half of 2024 obtained by our correspondent through Open Treasury, a website that monitors government spending, the amount represents a disbursement rate of 42.80 per cent from its appropriation of N2.41tn and a balance of N1.38tn. Despite this spending, no fewer than 5,801 Nigerians were killed in terrorist attacks, and 4,348 citizens were abducted in the first seven months of 2024, Findings by The PUNCH showed. Data sourced from an Indigenous intelligence outfit,…
Wale Edun, minister of finance and coordinating minister of the economy, says Nigeria currently spends $600 million on petrol importation monthly. Edun spoke on Tuesday during an interview on AIT’s Moneyline programme. The minister, however, reiterated that there is no petrol subsidy in the 2024 budget. “The fuel subsidy was removed May 29, 2023, by Mr President, and at that time, the poorest of 40 percent was only getting four percent of the value, and basically, they were not benefitting at all. So it was going to be just a few,” he said. “Another point that I think is important…
Some state governments and private sector investors are pumping over $10 billion into the construction of new deep and river seaports. However, there are concerns from the declining ship traffic and import volume into Nigeria. The shrinking volume of port business – caused by weaker naira, FX instability, and volatile exchange rate for clearing – is threatening the viability of about seven new port projects currently under different stages of development. Despite economic headwinds being responsible for a lull in business activities at the ports, state governments and private investors are still betting on the new ports, putting billions of…
The seventh day of nationwide protests in Nigeria, under the banner of #EndBadGovernance, was marked by tragic incidents, official responses, and strategic shifts by protest organizers. The demonstrations, which began on August 1, 2024, continue to highlight citizens' grievances over economic hardships and government policies. Key Developments: 1. Military Admits to Fatal Shooting in Zaria: - The Nigerian Army confirmed that a soldier fatally shot 16-year-old Ismail Mohammed during a protest in Samaru, Zaria, Kaduna State. - The incident occurred despite an ongoing curfew in the area. - The army stated that the soldier fired a warning shot that unfortunately…
As the #EndBadGovernance protests in Nigeria entered their sixth day, the movement continued to evolve across different parts of the country, with varying levels of intensity and diverse forms of expression. Here's a comprehensive overview of the situation: 1. Rivers State: - Protesters stormed the Eleme-Onne section of the East-West Road, a crucial route connecting Port Harcourt to key business facilities. - The demonstration disrupted vehicular movement, highlighting issues of poverty, hunger, and high food costs. - Protesters demanded job creation, infrastructure development, and revival of local refineries. - Some demonstrators gathered at former Governor Nyesom Wike's residence in Port…
The night before long-time leader Sheikh Hasina abruptly fled Bangladesh amid deadly protests, her army chief held a meeting with his generals and decided that troops would not open fire on civilians to enforce a curfew, two serving army officers with knowledge of the discussions told Reuters. Gen. Waker-Uz-Zaman then reached out to Hasina's office, conveying to the prime minister that his soldiers would be unable to implement the lockdown she had called for, according to an Indian official briefed on the matter. The message was clear, the official said: Hasina no longer had the army's support. Details of the…
Nigeria's oil output has risen to between 1.6 million and 1.7 million barrels per day after the government beefed up security to curb crude theft, Chief of Naval Staff Emmanuel Ikechukwu Ogalla said on Tuesday. Crude production in Nigeria, a member of the Organization of the Petroleum Exporting Countries (OPEC), stood at 1.2 million barrels per day in February, Ogalla said. Oil major Shell has exited the country. "We have stepped up surveillance and enforcement in the oil producing areas," the naval chief said. "Right now, as we speak, the Nigerian Navy has 12 vessels on the sea to protect…
Key Developments 1. Protests Continue Despite Presidential Address Despite President Bola Tinubu's national broadcast on Sunday calling for protesters to suspend their actions and engage in dialogue, demonstrations continued across several Nigerian states on Monday. The protests, now in their fifth day, are focused on demanding economic and political reforms to address the rising cost of living and other governance issues. 2. Arrest of Protest Leader in Abuja Michael Lenin, a prominent organizer of the #EndBadGovernance protests, was reportedly arrested by the Department of State Services (DSS) in Abuja around 2 am on Monday. However, the DSS later denied having…
The Nigerian National Petroleum Company (NNPC) Limited has launched the Utapate crude oil blend, a new grade of crude oil, into the international market. According to a statement released on Monday by NNPC spokesperson Femi Soneye, the first cargo of this new blend departed for Spain in July. The Utapate crude oil blend is sourced from Oil Mining Lease (OML) 13, which is fully operated by NNPC Exploration and Production Limited (NEPL), the upstream subsidiary of NNPC. Located offshore Akwa Ibom State, Nigeria, the Utapate blend currently produces 28,000 barrels per day, with potential to increase to 50,000 barrels per…
Former President Olusegun Obasanjo has warned that those profiting from fuel importation will likely try to undermine the Dangote Petroleum Refinery. This statement comes in response to allegations by Aliko Dangote, President of the Dangote Group, about efforts by certain "mafias" to sabotage the $20 billion refinery project. In an interview with the Financial Times, Obasanjo highlighted the significance of the Dangote refinery, describing it as a venture that should inspire investment in Nigeria from both locals and foreigners. “Aliko’s investment in a refinery, if it goes well, should encourage both Nigerians and non-Nigerians to invest in Nigeria. If those…
March 15, 2025

Dangote Refinery further reduces petrol loading price amidst fresh crude supply from NNPCL

In a significant development in Nigeria's downstream oil sector, the Dangote Petroleum Refinery has further…
March 14, 2025

I know individuals in Tinubu’s govt who bought ministerial positions, El-Rufai claims

Former Kaduna State governor, Nasir El-Rufai, has revealed that he knows individuals who paid to…
March 14, 2025

How leaders train themselves to rethink and adapt faster

Paola Cecchi-Dimeglio Recognizing the value of rethinking is one thing—making it a habit is another.…
March 01, 2025

Man offers to split $525,000 jackpot with thieves who stole his credit card to buy…

A Frenchman appealed to the homeless thieves who stole his credit card to buy a…
March 14, 2025

Gunmen invade Kaduna communities, abduct 10

Suspected bandits have abducted ten villagers from three remote communities in Kajuru Local Government Area…
March 15, 2025

What to know after Day 1115 of Russia-Ukraine war

RUSSIAN PERSPECTIVE Putin urges Kiev to order troops in Kursk Region to surrender Moscow is…
March 15, 2025

Humanoid robot with human-like competence unveiled in China

Du Qiongfang Humanoid robot manufacturer AgiBot in Shanghai unveiled on Tuesday its latest humanoid robot…
January 08, 2025

NFF appoints new Super Eagles head coach

The Nigeria Football Federation (NFF) has appointed Éric Sékou Chelle as the new Head Coach…

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