55% of Nigeria’s crude oil used as collateral for loans – Report

Nigeria's crude oil

…Says FG gets only 320,000bpd from 1.4m output Successive administrations have mortgaged the country’s crude oil reserves to secure foreign loans, thereby plaguing Nigeria’s economy, according to a published investigative report. The investigation revealed how past administrations’ penchant for taking foreign loans backed by natural resources, especially crude oil, was identified as the major cause of Nigeria’s present revenue crisis. It showed hiw for close to twenty years, administration after administration, working hand in hand with the management of the Nigerian National Petroleum Corporation Limited (NNPCL), had resorted to taking…

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“We can’t afford to have violent protests in Nigeria” – IGP

IGP Egbetokun

The Inspector-General of Police, IGP Kayode Adeolu Egbetokun, addressed the nation in light of the planned nationwide protests, emphasising the severe negative effects that violent demonstrations can have on our society. In his address, the IGP highlighted several critical points that underscore the importance of maintaining peace and order during protests. “It is not only in Nigeria that there is hardship. It is a global meltdown. Is the government doing anything about it? Yes! This is what a responsive government will do,” stated the IGP. He stressed that while the…

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Tinubu signs National Minimum Wage Bill into law

Tinubu signs wage bill

President Bola Tinubu has signed the newly approved national minimum wage into law. The President assented to the Bill yesterday, during the Federal Executive Council (FEC) meeting attended by the members of the Cabinet and the leadership of the National Assembly. Recall that on July 23, President Bola Tinubu sent a Bill to the House of Representatives, proposing a new national minimum wage of ?70,000 for Nigerian workers. This move follows a recent agreement between the President and Organised Labour leaders, reached last Thursday, which established the new minimum wage…

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FEC directs sale of crude oil to ?angote Refinery in Naira  

FEC directs crude sales

President Bola Tinubu has proposed the Nigerian National Petroleum Company Limited (NNPCL), sell crude oil to Dangote Petroleum Refinery and other refineries in the local currency, the  Naira. According to the Special Adviser on Information and Strategy to the President,  Bayo Onanuga yesterday, the proposal was adopted by the Federal Executive Council, (FEC). He said, “To ensure the stability of the pump price of refined fuel and the dollar-Naira exchange rate, the Federal Executive Council yesterday adopted a proposal by President Tinubu to sell crude to ?angote Refinery and other…

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Zamfara lawmaker, ex-LG Chair, District Head nabbed over alleged kidnapping

Zamfara kidnapping

A member of the Zamfara State House of Assembly, Aminu Ibrahim, who represents  ?auran-Namoda State constituency, is in Police custody over alleged banditry and kidnapping. The State Commissioner of Police, CP Muhammad Shehu Dalijan, who confirmed the arrest of the lawmaker to newsmen, revealed also that the District Head of ?auran-Namoda, Jafaru Abdullahi Kumburki and a former chairman of the LGA, Nasiru Muhammad, are in Police custody over similar allegations. The Police Commissioner said three district heads of Danjibga, Bukkuyum and Unguwar Gyauro in Tsafe and Bukkuyum LGAs, whose names…

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“Resolves citizens worries , not suppressing planned protest” – CISLAC

CISLAC on protest

The Civil Society Legislative Advocacy Centre, (CISLAC), has urged the Federal Government to set a clear timeframe for addressing citizens’ grievances rather than merely attempting to suppress protests. Its Executive Director, Auwal Musa Rafsanjani, emphasised the need for decisive action on pressing issues such as inflation, unemployment, corruption, insecurity, and the erosion of institutional integrity. “Inflation, unemployment, corruption, and insecurity are critical challenges that need urgent attention.The integrity of our institutions is in question, and it is imperative to restore trust and confidence so that citizens can once again believe…

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‘Boko Haram plan to infiltrate nationwide protest’ – Yobe Police

Yobe Police2

The Yobe State Police Command says the Boko Haram insurgents have planned to infiltrate the planned nationwide protest in the State. The spokesman of the Command, DSP Dungus AbdulKarim, stated this in a statement on Saturday in Yobe, the State capital. According to him, intelligence received by the Command indicated that foreign mercenaries were engaged to destroy lives and property at the protest. He therefore, called on individuals planning to participate in the protest to exercise caution. “As Yobe State recovers from insurgency, the Commissioner of Police, CP Garba Ahmed,…

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NIN-SIM verification: NCC orders telcos to re-activate all lines barred

NCC orders telcos

The Nigerian Communications Commission (NCC) has ordered all telecommunication companies in the country to re-activate all lines they have barred over issues surrounding the linking and verification of National Identification Numbers (NIN) linked with their Subscriber Identification Modules, (SIMs). The sudden U-turn from the regulator, which had earlier given the telecom operators a July 31 deadline to bar all lines with unverified NINs, may not be unconnected with the planned protest and the claims that the government was trying to frustrate the protest through telecommunications.  Millions of lines were barred…

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