Kano Police Arraigned Man For Domestic Violence
The Kano police have arraigned a man, identified as Umar Inusa, for allegedly beating his wife up and inflicting serious...
Cynthia Okonkwo
Lagos State Increases Minimum Wage to N85,000, Says Governor Sanwo-Olu
The Lagos State governor, Babajide Sanwo-Olu, has declared that the minimum salary for state employees will henceforth be N85,000. On Wednesday, October 16, the governor made this declaration in an interview that aired on Channels Television. “I’m glad to let you know that the minimum wage for Lagos, which we have discussed with our...
“Leave Me Alone” ~ Bobrisky
The crossdresser and controversial personality, Bobrisky has told people dragging him on social media to leave him alone as he...
Due to unpaid salaries, varsity employees threaten to go on strike again.
On the margins of the union's current National Executive Council meeting in Abuja, Prince Peters Adeyemi, the general secretary of NASU, hinted that the members of the Non-Academic Staff Union of Educational and Other Associated Institutions would likely resumetheir suspended strike in protest of the Federal Government's refusal to pay their withheld salaries.In October 2023, President Tinubu ordered that members of NASU and the Senior Staff Association of Nigeria Universities receive two of the four months' salaries that the federal government, led by President Muhammadu Buhari, withheld in 2022 after a protracted strike over unresolved disputes.Adeyemi told reporters that the directive, which was issued two months ago, has not been followed.What is new is that the President’s directive has been disobeyed. We used to know that the president’s words can...
Nigerian Doctor Seeks Help from The Public To Locate a Man’s Family Who Collapsed.
A Nigerian doctor, identity as Folaseye, has sought help from the public to locate a patient's family who was brought...
About 15% of Nigeria’s electricity is produced by Adedeji Adeleke’s company, Pacific Energy, according to the father of multiple award-winning Nigerian musician Davido.
Adeleke made this revelation on October 15, 2024, before the General Conference Annual Council of the Seventh-Day Adventist Church. The billionaire emphasised his power sector investments, stating that his thermal power facility should be completely operational by January 2025. According to Adeleke, Chinese engineering companies are working on the project, which when finished will have a 1,250 megawatt capacity and be the biggest thermal power plant in Nigeria. In one of the conference videos that Davido posted on his X account on Wednesday, Adeleke partially stated, "I own power plants and I'm in the electricity business." About 15% of Nigeria's electricity is produced by me. Chinese engineering firms are employed by me. I am constructing Nigeria's largest thermal power plant, which will be inaugurated in January 2025. It's a power plant with 1250 MW. Ademola Adeleke, the governor of Osun State and the millionaire businessman's brother, responded to the news by praising his older brother on his X account. “Proud of my big bro always. My Chairman. Our parents always taught us...
Wike urges Nigerians to pay their Taxes since the Government needs to Generate Revenue.
During the inaugural Abuja Business and Investment Summit, which was organised by the Abuja Investment Company Limited, Nigerian Minister Nyesom Wike urged Nigerians to pay taxes because the government needs the money to fund social services for its citizens. According to the former governor of Rivers State, the event's topic,"Optimising Investment Through Partnerships," aligns with the federal government's initiative to harness the potentiaof cooperation to promote investment prospects. According to the FCT minister, the idea that the government doesn't require funding is false.Wike said the government won't keep giving land and billions of naira to investors who can't provide a return on investment, citing instances of its collaboration with the private sector that didn't work out. “These are the kinds of things the government looks into and say how can I bring in...
2025 budget: Representatives insist on MTEF being submitted on time
In order to provide legislators enough time to work on the 2025 Appropriations Bill (when it is filed), the House of Representatives encouraged the Federal Government on Wednesday tosend the Medium Term Expenditure Framework to the National Assembly immediately. This is because parliamentarians of all party affiliations voiced their disapproval of the practice of presenting annual budget plans to the parliament later than expected, which leaves themwith little time to perform well. Following the acceptance of a motion of urgent public interest, which was introduced by Mr.Clement Jimbo, the member representing the Abak/Etim Ekpo/Ika Federal Constituency in Akwa Ibom State, the House passed its resolution. In order to garner support for the motion, Jimbo emphasised the necessity of pressing the executive branch to adhere to Section 11(I) of the Fiscal Responsibility Act, 2007. He said that the law guarantees the long-term macro-economic stability of the national economy and allows for the prudent management of the country's resources. "The Federal Government must, not later than four months before the commencement of the next financial year, cause to be prepared and laid before the National Assembly an MTEF for the next three financial years," the legislator said, citing Section 11(1)(b). In particular, section 88(1) of FRA 2007 and Sections 88 and 89 of the 1999 Constitution, which state that, subject to other provisions of the 1999 Constitution, "Each House of the National Assembly shall have the power, by passing resolutions, to direct, or cause to be directed,an investigation into any matter or thing to which it has power to make laws, and into the conduct of affairs of any person, authority, ministry of government department charged or intended to be charged with the duty of or responsibility for executing of administering laws enacted by the National Assembly and for disbursing or administering monies appropriated orto be appropriated by the National Assembly." He expressed concern about this.He claims that the executive's non-compliance with section 11(1)(b) of the FRA 2007 "technically takes away" the time the National Assembly needs to carry out its duties as outlined in section 88(2)(b). Billy Osawaru (APC, Edo State) stated in his presentation that "One of the ways Ministries, Departments, and Agencies of Government shortchange Nigerians"is the timely late submission of annual budget proposals."If it takes four months to go through budget estimates, it...
The world Bank List the Naira as one of Africa’s Worst-Performing currencies as it Depreciates by 43%.
One of the worst-performing currencies in Sub-Saharan Africa for 2024 is the Nigerian naira. This is in line with the most recent Africa's Pulse report from the World Bank. The naira has lost over 43% of its value so far this year, making it one of the weakest currencies, along with the South Sudanese pound and the Ethiopiabbirr, as of August 2024. The fall is ascribed to growing demand for U.S. dollars in Nigeria’s parallel market, limited dollar inflows, and delayed foreign exchange payments by the central bank. According to the research, the naira has been under further pressure from money managers, non-financial end users, and financial institutions that are driving dollar demand. The official exchange rate was liberalised in June 2023 as part of Nigeria's foreign exchange market reforms, but these measures alone haven't been enough to stabilise the currency. The naira's predicament has been made worse by broader economic issues, such as depleting foreign reserves and inflationary pressures. Nigerian consumers' circumstances have gotten worse as aresult of the currency's depreciation, which has had a major influence on local costs, especially for imported items. On October 14, the naira improved from N1,641.27/$1 to N1,552.92/$1, a 5.69% increase against the dollar, indicating a recent recovery. Nevertheless, during the same time frame, foreign exchange turnover fell by 44.27%. The World Bank predicts that as reforms take hold, Nigeria's economy will grow by 3.3% in 2024 and then slightly faster to 3.6% in 2025 and 2026. Inflation is still a problem, though, especially after fuel subsidies were eliminated in the middle of 2023, which tripled petrol prices and raised the cost of logistics and transportation nationwide.
