Fuel Price Hike: Tinubu Introduces CNG at N200 as Alternative

“Nigeria’s motorists can buy petrol at N1,000 per litre or equivalent gas per Standard Cubic Meter at N200..” President Bola Ahmed Tinubu has disclosed that Nigerian motorists can now purchase petrol at N1,000 per litre. However, he added that the equivalent of a litre of petrol—measured as one Standard Cubic Meter of Compressed Natural Gas, CNG—is available at N200. Tinubu made this statement during a meeting with executives of the Nigerian Independent Petroleum Company, NIPCO,...

Nigeria’s Growth Outlook Dims as IMF Cuts 2024 GDP Forecast to 2.9%

The International Monetary Fund, IMF, has revised Nigeria’s 2024 economic growth forecast downward to 2.9 per cent from the earlier projection of 3.1 per cent in July. The downgrade, contained in the IMF’s latest World Economic Outlook, WEO, report, attributes the adjustment to disruptions in oil production, severe flooding, and persistent inflation. The report notes that flooding, coupled with ongoing security and maintenance challenges in the oil sector, has significantly affected economic activities. “Over the...

Court Orders Release of Binance Executive as FG Withdraws Charges

A Federal High Court sitting in Abuja on Wednesday ordered the release of Tigran Gambaryan, an executive of Binance Holdings Limited, from the Kuje Correctional Centre following the withdrawal of charges by the federal government. Gambaryan, a US citizen, was arrested in February during a clampdown on Binance over alleged foreign exchange manipulation and tax evasion. The Economic and Financial Crimes Commission, EFCC, had arraigned him and Binance Holdings Limited in April on a five-count...

President Bola Tinubu  Sacks Minister of Women Affairs, Four Others

President Bola Tinubu has announced the sacking of five Ministers from his cabinet. According to a statement from the presidency said the termination of their appointment was announced at the federal executive council (FEC) meeting on Wednesday. The affected ministers are Uju Kennedy-Ohanenye, minister of women affairs; Lola Ade-John, the minister of tourism; and Jamila Bio Ibrahim, minister of youth development. Others are Prof. Tahir Mamman, minister of education and Abdullahi Muhammad Gwarzo was let...

Breaking: President Tinubu Reshuffles Cabinet, Scraps Two Ministries

President Bola Tinubu has approved a reshuffle of his ministerial cabinet and merged two ministries into one. This decision was disclosed during the Federal Executive Council (FEC) meeting on Wednesday, according to a statement by Bayo Onanuga, the president’s spokesperson. The President’s Spokesperson confirmed that the president has scrapped the Niger Delta Ministry and the Ministry of Sports Development. Additionally, Tinubu approved the merger of the Ministry of Tourism with the Ministry of Culture and...

Wike Vows to Remove Beggars from Abuja Streets Over Security Concerns

The Minister of the Federal Capital Territory, FCT, Nyesom Wike, has announced plans to rid the streets of Abuja of beggars, starting next week. Wike described the growing presence of street beggars in the nation’s capital as both “embarrassing” and a security threat. “In terms of security, let me state clearly now, we have declared war,” Wike said during an address. “Abuja is turning into a beggar city. If you know you have a sister,...

Senate Probes Colleague Over Drug Allegation

Following drug allegations against the Senate’s deputy leader, Senator Oyelola Yisa Ashiru (APC Kwara South), the Senate has constituted a six-member ad hoc committee headed by Senator Enyinnaya Abaribe to investigate the matter. The constitution of the committee followed a ‘personal explanation’ by Ashiru under Order 42, of the Senate rules, in which the lawmaker said his privileges were breached by the National Drug Law Enforcement Agency (NDLEA). Senate President Godswill Akpabio charged the ad...

Killings: Reps To Summon FCT Minister, Nyesom Wike, Others

A spate of killings and kidnappings by One Chance operators and other criminal elements in the Federal Capital Territory (FCT) have become worrisome. The House of Representatives has summoned FCT Minister Nyesom Wike, the FCT Police Commissioner, and the Director General of the Department of State Services (DSS) to appear before its Committee on Federal Capital Territory (FCT), National Security and Intelligence and Police Affairs. The action of members of the lower chamber followed the...

Federal Government Bans Export Of Cooking Gas

The Federal Government has banned the export of cooking gas produced in Nigeria due to a hike in the price of the Liquefied Petroleum Gas. Ekperikpe Ekpo, Minister of State for Petroleum Resources (Gas) who announced the ban during a meeting with key stakeholders in the LPG value chain to address the escalating prices and the hardship they impose on Nigerians. Ekpo explained that the measures were aimed at boosting availability, ensuring affordability, and protecting...

House Committee On Constitution Review Sets To Engage Stakeholders

The House of Representatives Committee on Constitution Review is set to engage key stakeholders, like the Nigeria Governors’ Forum, Nigeria Guild of Editors, Conference of Speakers of State Legislatures, chairmen of the 18 political parties, and Civil Society Organisations (CSOs) in the ongoing process to amend the 1999 Constitution. Hon. Benjamin Kalu, the Deputy Speaker and Chairman of the committee, stated this on Tuesday during the committee’s meeting in Abuja. According to him, the committee...

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