Author: Chief Editor

The federal government has stated its readiness to always ensure an all-round development of oil-producing host communities in the country as enshrined in the Petroleum Industry Act (PIA). The Head of the Nigeria Upstream Petroleum Regulatory Commission (NUPRC), Warri Regional Office, Mr. Olusegun Benjamin Ogunubi, who gave the assurance in a statement, said the Host Community Development Trust fund (HCDT) created by the Petroleum Industry Act, gave the commission the statutory obligation of ensuring the settlors fund it for the concerned communities. He said: “Through the Host Community Development Trust fund (HCDT), the Nigeria Upstream Petroleum Regulatory Commission (NUPRC) will…

The Board of Directors of the African Development Bank Group (AfDB) has approved an equity investment of $20 million in the Africa50 Infrastructure Acceleration Fund I, in support of its target to mobilise private capital for infrastructure across the continent. The Africa50 Infrastructure Acceleration Fund I is a pan-African infrastructure private equity fund that mobilising up to $500 million for investment and value creation in strategic infrastructure sectors. These include power, energy, digital and social infrastructure, transportation, logistics, and water and sanitation. The fund is sponsored by Africa50, an infrastructure investment platform established by governments and the African Development Bank.…

• FG, Labour talks deadlocked• Alake: Consultations adjourned to later date• APC governors back Tinubu• Logistics, palliative framework missing • NMDPRA silent on grey areas• NECA cautions govt, says approach could trigger fresh economic crisis• Your aides speaking in discordant tunes, be transparent with Nigerians, Farounbi tells Tinubu Less than 24 hours after President Bola Tinubu insisted that subsidy removal was not immediate, the Nigerian National Petroleum Company Limited (NNPCL), yesterday, hiked the pump price of Premium Motor Spirit (PMS) over N500 per litre. However, price-fixing seems to have taken the backdrop of the subsidy removal, reflecting the monopolistic state…

President Bola Ahmed Tinubu and the All Progressive Congress (APC) have kicked against the tendering in evidence of information extracted from the Bimodal Voter Accreditation System (BVAS) machines used for the conduct of the 2023 presidential election. Tinubu, through his team of lawyers led by Wole Olanipekun (SAN) on Wednesday opposed the admissibility of certified copies of printouts from the BVAS. The certified copies of the BVAS printouts were brought before the Presidential Election Petition Tribunal (PEPT) sitting in Abuja by the presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar. Atiku had at the resumed proceedings on the…

Despite its influence on the African continent, Nigeria has lately been a bystander in international power politics, and that explains why some countries are riding roughshod over Nigerian citizens in breach of diplomatic protocols. But should the current administration desire a change of narrative, stakeholders said it begins with getting it right at home, Ngozi Egenuka reports Since independence, Nigeria has played a dominant role on the African continent. Quite outstanding was the country’s soaring global perception, especially during the military era. One of such finest hours of Nigeria in the diplomatic community was the Muhammed/Obasanjo era. Though General Murtala Muhammed’s tenure…

Cristiano Ronaldo missed the final matchday of the Saudi Pro League due to injury as his Al-Nassr team finished their season with 3-0 victory over Al-Fateh on Wednesday. The Portuguese forward decided not to sit on the bench for the frustrating end to his first season in Saudi Arabia after joining Al-Nassr in January on a contract estimated by the media to be worth more than 200 million euros ($213.5 million). The 38-year-old ended up with 14 goals in 16 matches, having played every minute of every league game barring a 1-1 draw with Al-Ettifaq last month, when he was…

FinTech NGR and Huawei Cloud recently released the highly anticipated Nigerian FinTech Cloud Adoption White Paper at an event in Lagos, where they highlighted its significance in addressing the key challenges faced by Nigeria’s FinTech. Financial Technology (FinTech), refers to the innovative application of technology in the financial services sector. It encompasses a broad range of digital solutions and services that aim to revolutionise traditional financial processes. Through the use of advanced technologies such as cloud computing, artificial intelligence, blockchain, and mobile applications, FinTech companies offer faster, more convenient, and user-centric financial services to individuals and businesses. Speaking at the…

Kayode Odunaro writes that the leadership of the ruling All Progressives Congress made a good choice in former Governor of Akwa Ibom State, Senator Godswill Akpabio, as President of the Senate of the 10th National Assembly. The struggle for the leadership of the 10th National Assembly has dominated the media space for weeks on end following the conclusion of the 2023 plebiscites. With the ruling All Progressives Congress (APC) managing slim majority among a variegated political parties’ representation in the two chambers of the National Assembly, it was clear that the competition for the presiding officers promises to be fierce. The…

A Federal High Court in Abuja yesterday told former Governor of Rivers State, Nyesom Wike, that the Peoples Democratic Party (PDP) has the right to suspend or expel him if the action is done in accordance with the law. Justice James Omotosho stated this in a judgment he delivered on a suit filed by Wike, prior to the 2023 general election, to seek for a court order to stop PDP from taking action against him without fair hearing. The ex-governor had sued the PDP, its National Working Committee (NWC) and National Executive Committee (NEC) as 1st to 3rd respondents. Wike,…

Access Bank Plc yesterday disclosed that it was set to tap into the over $4 billion trade Nigeria had with France, with the launch of a Business Desk in Lagos. The Business Desk aims at building a strong business relationship between France/Francophonie and Nigeria. Speaking on the occasion of the visit of Mrs. Chrysoula Zacharopoulou, who is the French Minister of State for Development, Francophonie and International Partnerships to Nigeria, the Group Managing Director, Access Holdings, Dr. Herbert Wigwe, stated that Access Bank’s French Desk strategic platform would serve as a vital link between Business France, PROPACO, Agence Française de…