Author: Alade Adisa

Citing mischief and misinformation,theNigerian National Petroleum Company Limited (NNPC Ltd.) has refuted a report in some newspapers that the old Port Harcourt Refinery which was recently re-streamed , has been shut down.In a statement signed today by Olufemi Soneye, NNPC’s Chief Corporate Communications Officer, he said that the report was false, and that loading of petroleum products was still going on today.He urged the public to disregard the claim which is intended to cause panic.Soneye added: ”Our attention has been drawn to reports in a section of the media alleging that theOld Port-Harcourt Refinery re-streamed about two months,has been shut…

The Chairman of BUA Group, Alhaji Abdulsamad Rabiu, has acknowledged that although some of the reforms introduced by the President Bola Tinubu’s administration have been challenging, but they were necessary for the long-term stability of the economy. “It’s true that some of them are quite painful, but we needed these reforms, especially the foreign exchange unification,” Rabiu said while also expressing confidence that the Nigerian economy is on the road to recovery. The BUA Group chairman said this while speaking with State House Correspondents after the Juma’at prayer with President Bola Tinubu in Lagos. “As you’ll remember, the exchange rate…

The Federal Government has allocated ₦27 billion for the entitlements of former presidents, vice presidents, heads of state, chiefs of staff, retired heads of service, and professors in the 2025 fiscal year. The beneficiaries of this allocation include former Presidents Olusegun Obasanjo, Goodluck Jonathan, and Muhammadu Buhari, alongside ex-vice-presidents Atiku Abubakar, Namadi Sambo, and Prof. Yemi Osinbajo. Other notable individuals expected to benefit from this allocation are ex-military Heads of State, Gen. Yakubu Gowon (retd.) and Gen. Abdulsalami Abubakar (retd.), as well as former military President, Ibrahim Babangida, and retired Chief of General Staff, Commodore Ebitu Ukiwe. Recall that President…

Major oil marketers lifting petrol, from Dangote Petroleum Refinery have reduced the price from N1,060 to N939.50 per litre. A number of oil major marketers, including MRS, have adjusted their pump prices to reflect the reduction as of Friday. At MRS filling station in Ojota, Lagos, the company sell petrol at N939.50 per litre Friday evening, although the Chairman of MRS, Alhaji Sayyu Idris Dantata, declined to comment when contacted. Relatedly, Dangote Petroleum Refinery has also cut its ex-pump price from N970 to N899.50 per litre. This move, according to the refinery, aims to provide relief to Nigerians ahead of…

A Rivers State high court sitting in Port Harcourt on Friday nullified the congresses of the All Progressives Congress in the state. The congress, which produced Chief Tony Okocha as the state chairman, was nullified following a contempt of court proceeding filed by the camp of the reinstated chairman of the party in the state, Chief Emeka Beke. The court had earlier issued an order stopping the conduct of the congresses in the state, but the APC defied the order of the court and went ahead to hold the exercise. The aggrieved members of the party, who had secured the…

….As Russians burn their faces to hide IDs At least 100 North Korean soldiers have been killed fighting in Ukraine — and video appears to show Russian allies burning the dead’s faces in fires to hide their identity. Another 1,000 North Koreans have been wounded — but dictator Kim Jong Un could be gearing up to send additional troops to the battlefield. The heavy losses — which may include North Korean generals — were reported by South Korea’s National Intelligence Service to the nation’s lawmakers behind closed doors on Thursday, the Telegraph reported. The North Korean troops have become “burdens”…

Justice Deinde Dipeolu of Federal High Court sitting in Lagos has granted request of the Economic and Financial Crimes Commission (EFCC) for final forfeiture of a warehouse occupying 1.925 hectares of land along the Lagos/Ibadan expressway in Magboro, Obafemi Owode Local Government Area of Ogun State and 54 general purpose steel containers to the Federal Government. Justice Dipeolu granted the request after EFCC lawyer moved an application for the forfeiture of the assets. The lawyer to EFCC, Rotimi Oyedepo (SAN), had on 28 November approached the court via a motion ex parte to seek the forfeiture of the assets. According…

An Edo State High Court in Benin has ordered the reinstatement of the suspended 18 local government chairmen and vice chairmen in the state. The presiding judge, Justice Efe Ikponmwonba, on Friday granted the order following a suit instituted by the affected chairmen and vice chairmen. The court, however, restrained Governor Monday Okpebholo and Edo State Government, Attorney General of the State and Commissioner for Justice, Accountant General of the State, among others from acting on the resolution of the state House of Assembly suspending the claimants. Justice Ikponmwonba also ordered that the status quo, as at December 12 be…

The Central Bank of Nigeria (CBN) has introduced a new policy to strengthen its drive towards a cashless economy, setting a daily maximum transaction cash-out limit of N100,000 per customer for agency banking operators, also known as Point of Sale (PoS) operators. This directive, outlined in a circular issued on Thursday by the CBN’s Payments System Management Department and signed by Oladimeji Yisa Taiwo, aims to enhance the use of electronic payment channels, address operational challenges, combat fraud, and establish uniform standards across the industry. According to the circular, the CBN has mandated that issuers must limit cash withdrawals to…

The 22nd National Sports Festival, tagged ‘Gateway Games, Ogun 2024,’ has been rescheduled once again. The highly anticipated festival initially slated for January 12 – 28, 2025, will now take place from May 16 – 30, 2025. Announcing the change during the 1st Joint Technical Meeting held in Abeokuta, Ogun State, on Thursday night, the Director-General of the National Sports Commission (NSC), Bukola Olopade, said the change was necessary to allow the newly established NSC to settle and develop a sustainable sports economy, aligning with President Bola Tinubu’s directive for economic sustainability in sports. The meeting included key stakeholders, such…