OIL MARKETERS ADJUST PETROL PUMP PRICE FROM N1,010 TO N1,050 The price of Premium Motor Spirit (PMS), commonly called petrol, has been raised by major oil marketers from N1,010 to N1,050 per litre, reflecting a 4% increase in Lagos and neighboring areas. This adjustment comes amidst ongoing economic challenges and fluctuations in global oil prices, which have put pressure on …

WE STAND BY OUR ADVICE ON NIGERIA REMOVING FUEL SUBSIDY, FLOAT NAIRA – IMF The International Monetary Fund (IMF) says it stands by its advice to Nigeria to remove petrol subsidy and float the exchange rate. The Bretton Woods institutions have been accused of advising President Bola Tinubu on the present economic policies, especially the removal of subsidy from PMS …

RIVERS GOVT APPEALS COURT ORDER STOPPING FEDERAL ALLOCATION TO THE STATE The Rivers State Government has filed an appeal against a recent Federal High Court ruling in Abuja that barred the Central Bank of Nigeria (CBN) from distributing federal allocations to the state. Recall that on Wednesday, Justice Joyce Abdulmalik of the Abuja Federal High Court declared that Governor Siminalayi …

TOUGH TIMES AHEAD AS NEW REPORT INDICATES THAT NIGERIA’S ECONOMY WILL UNDER PERFORM NEXT YEAR A recent report by BMI, a Fitch Solutions company, forecasts Nigeria’s economic growth will reach 3.5% in 2025. However, weak Foreign Direct Investment (FDI) and low oil output are expected to continue hindering performance. According to the report, there will be a substantial decline in …

YOU DON’T OVERTAX PEOPLE AND EXPECT IT’S THE WAY TO DRIVE GROWTH – NASARAWA GOVERNOR ABDULLAHI SULE Governor Abdullahi Sule of Nasarawa State has dismissed claims that Northern Nigeria opposes President Bola Tinubu’s administration due to the region’s stance on the proposed Tax Reform Bill. This comes after the Northern Governors’ Forum, during a meeting with traditional rulers and stakeholders, …

FORMER BRITISH COLONIES OWE DEBT OF GRATITUDE, SAYS UK PARLIAMENTARIAN Britain’s former colonies should be thankful for the legacy of empire, not demanding reparations, according to the Conservative leadership candidate Robert Jenrick. In comments that were described by a Labour MP as “deeply offensive”, the former minister said countries that were part of the empire “owe us a debt of …

NIGERIAN WORKERS POORER THAN BEFORE – OSHIOMHOLE Comrade Adams Oshiomhole, former President of Nigeria Labour Congress (NLC), says current Nigerian workers are poorer than those who worked for country in the past. Oshiomhole, a former governor of Edo State, also decried the present N70,000 minimum wage, arguing that the celebrated wage when converted to dollars, is equivalent to $42. The …

NORTH HAS MORE POOR PEOPLE, DESERVES LARGER ALLOCATION – MINISTERIAL NOMINEE Nentawe Yilwatda, ministerial nominee for the Ministry of Humanitarian Affairs and Poverty Alleviation, has disclosed that about 65 percent of poor people in Nigeria live in the North. Yilwatda, hence, said the region deserves more allocation based on needs assessment. He stated this on Wednesday while speaking at the …

SIX KEY PROVISIONS IN TINUBU’S PROPOSED TAX BILL In early October 2024, President Bola Tinubu transmitted the Nigeria Tax Bill 2024 to the National Assembly. The bill is expected to reshape Nigeria’s fiscal framework and establish a comprehensive legal framework governing taxation of incomes, transactions, and instruments. The bill is entitled, “An Act to Repeal Certain Acts on Taxation and …

PRO-WIKE RIVERS LAWMAKERS WITHDRAW COURT AFFIDAVIT CONFIRMING DEFECTION FROM PDP TO APC Hon Martin Chike Amaewhule-led pro-Wike lawmakers in Rivers State have withdrawn part of an affidavit they sworn to at the Federal High Court in Abuja, confirming their defection from the Peoples Democratic Party (PDP) to the All Progressives Congress (APC). The lawmakers’ defection followed a rift between Nyesom …

SENATE CONFIRMS BIANCA, OTHERS AS MINISTERS The Senate on Wednesday confirmed the seven new ministerial nominees forwarded to it by President Bola Ahmed Tinubu. The new ministers confirmed during plenary are Dr Nentawe Yilwatda, (Humanitarian Affairs and Poverty Reduction), Muhammadu Maigari Dingyadi (Labour and Employment), Bianca Odinaka Odumegu – Ojukwu (Foreign Affairs – State). Others are Dr Jumoke Oduwole (Industry, …

TINUBU APPOINTS GENERAL OLUYEDE ACTING CHIEF OF ARMY STAFF President Tinubu has appointed Major General Olufemi Olatubosun Oluyede as acting Chief of Army Staff. This was disclosed in a statement on Wednesday by the presidential spokesman, Bayo Onanuga. “President Bola Ahmed Tinubu, Commander-in-Chief of the Armed Forces, has appointed Major General Olufemi Olatubosun Oluyede as the acting Chief of Army …

DON’T TAKE EVERY ADVICE GIVEN TO YOU BY IMF – JEGA TELLS TINUBU Former Chairman of the Independent National Electoral Commission (INEC), Prof. Attahiru Jega, on Wednesday warned Nigeria against taking all the advices of the Bretton Woods institutions, especially the World Bank and the International Monetary Fund (IMF). He said while it is good and useful to engage with …

SOUTH AFRICA TO REVOKE CHIDINMA ADETSHINA, MOTHER’S CITIZENSHIPS South Africa’s Department of Home Affairs has announced plans to revoke the identity and travel documents of former Miss South Africa finalist, Chidimma Adetshina, and her Mozambican-born mother. The department has concluded its investigation into the duo and handed the case over to the Hawks for potential fraud charges. The decision follows …

ALEX IKWECHEGH, REPS MEMBER WHO ASSAULTED UBER DRIVER TO BE STRAINED IN COURT The Abia federal lawmaker who assaulted an Abuja Bolt driver, Alex Ikwechegh, is scheduled to be arraigned before the Kuje Magistrate Court at 12 noon today, Wednesday. The probe and prosecution of Ikwechegh are being handled by the Inspector General of Police’s Special Investigation Unit. Recall that …