President Tinubu departed Abuja Monday for Paris, using the new Airbus A330, which replaced the 19-year-old Boeing B737-700(BBJ) bought under the Presidency of President Olusegun Obasanjo. The new plane, bought far below the market price, saves Nigeria huge maintenance and fuel costs, running into millions of dollars yearly. The recommendation to replace the B737-700(BBJ) followed an investigative hearing by Nigeria’s parliament that questioned the plane’s safety record and cost efficiency, especially after it malfunctioned during a trip to Saudi Arabia. The Nigerian Senate’s security and intelligence committee recommended replacing the ageing aircraft in the presidential fleet to reduce downtime and…
Author: Michael Chibuzo
The Nigerian National Petroleum Company Limited has announced a net profit of N3.297 trillion for the financial year ending December 2023. This profit is a 28% increase from the N2.548 trillion profit the company recorded in 2022. The NNPC in a statement by its Chief Corporate Communications Officer, Olufemi Soneye, noted that this profit is the highest in the company’s 46-year history. “The NNPC Limited has released its 2023 Audited Financial Statement (AFS), declaring a net profit of N3.297 trillion at the close of the financial year which ended in December 2023, an increase of over N700billion (28%) when compared…
A former Governor of Ogun State, Ibikunle Amosun, has hit back at Labour Party Chieftain and a Professor of Political Economy, Pat Utomi over his comments that the former governor was fond of violating terms of contracts and alleging that he was also a victim of Amosun’s violation of contract terms. Prof. Utomi’s attacks on Amosun came in the wake of the controversy surrounding a contract dispute between the Ogun State government and a Chinese investment group, Zhongfu International Investment FXE, which has resulted in a seizure of Nigeria’s presidential jets in France. Former Governor Ibikunle Amosun while pushing back…
To improve the health and social well-being of Nigerians, drive economic development, and position Nigeria as a healthcare hub within Africa, President Bola Tinubu has launched the Nigeria Sovereign Investment Authority (NSIA)-Healthcare Expansion Programme and the retraining of 120,000 frontline health workers. The first initiative — the Healthcare Expansion Programme — is a major milestone in the health sector as ten world-class healthcare facilities specializing in oncology and diagnostics will be established across the nation’s six geopolitical zones. This expansion builds upon the success of the NSIA’s previous projects, including the NSIA-Lagos University Teaching Hospital (LUTH) Cancer Centre, the NSIA-Kano…
By Bayo Onanuga The National Council of State, a diverse body comprising former presidents, heads of government, chief justices of the federation, state governors, the secretary of the federal government, the attorney-general of the federation and the minister of the Federal Capital Territory, held its first meeting under President Bola Ahmed Tinubu on Tuesday, 13 August. This diverse composition underscores the council’s advisory role in shaping the nation’s policies and decisions, ensuring a broad spectrum of perspectives are considered. At its last meeting 18 months ago, the council was briefed by the INEC Chairman and the Inspector General of Police…
The Presidency has reacted to an attempt by a Chinese company, Zhongshan Fucheng Industrial Investment Co. Limited to take over offshore assets of the Federal Government of Nigeria through what it described as subterfuge. In a press statement, the Special Adviser to the President on Information and Strategy, Bayo Onanuga said that the Federal Government is not under any contractual obligation with the company. “The case in which Zhongshan is trying to use every unorthodox means to strip our offshore assets is between the company and the Ogun State Government”, Onanuga stated. The Presidency in the statement noted that the…
The National Judicial Council (NJC) has recommended Justice Kudirat Kekere-Ekun to President Bola Ahmed Tinubu for appointment as the next Chief Justice of Nigeria (CJN) to replace the outgoing CJN, Justice Olukayode Ariwoola. The recommendation was made during the 106th meeting of the Council on Thursday presided over by the CJN Justice Olukayode Ariwoola who is set to leave office on August 22, after attaining the mandatory retirement age of 70. If President Bola Tinubu appoints Kudirat Kekere-Ekun as CJN in line with the NJC recommendation, she will be the second female chief justice of Nigeria after Justice Aloma Mariam…
Nigeria’s headline inflation rate has eased to 33.40% in July below the 34.19% recorded in June according to data released by the National Bureau of Statistics (NBS). This decline in inflation rate is the first in 19 months. Looking at the CPI data from NBS, the July 2024 headline inflation rate showed a decrease of 0.8% points when compared to the June 2024 headline inflation rate. On a year-on-year basis, the headline inflation rate was 9.32% points higher compared to the rate recorded in July 2023, which was 24.08%. This shows that the headline inflation rate (year-on-year basis) increased in…
The Minister of Solid Minerals Development, Dr. Dele Alake has hinted at an impending forensic audit of the mining sector as part of efforts to sanitize the industry and boost investor confidence. During a meeting with Plateau State Governor Caleb Mutfwang on Wednesday, Dr. Alake emphasized that ongoing reforms will lead to the implementation of technology-driven mechanisms aimed at enhancing the regulatory framework of the federal government. “I can reveal that we are going to embark on a forensic audit of the entire sector,.We are collaborating with the Ministry of Science and Technology on satellite imaging, in line with the…
Nigerian security operatives have arrested one Mr. Bashir Hadejia, over treason, subversive activities, gun-running and transnational crimes. Mr. Bashir Hadejia who specialises in money laundering and other transnational crimes was nabbed over the weekend by the Nigerian Police. His arrest by the police was as result of intelligence reports on smuggling large catches of weapons along with bars of gold believed to have been stolen from the Central Bank of Libya. Bashir Hadejia, is alleged to be involved in trading of dangerous weapons along with gold as cover-up. Authorities also accused him of being involved in aiding terrorism and other…