Author: Alade Adisa

Data by Financial Market Dealers Quotation (FMDQ) on Friday showed that the Naira gained N126.64 against the dollar at the official foreign exchange market in 48 hours.It showed that between Thursday and Friday, the Naira appreciated to N1540.78 per dollar on Friday from N1667.42 on Wednesday.This represents an N126.64 appreciation against the dollar between Thursday and Friday compared with the N1667.42 exchange rate on Wednesday.On a week-on-week basis, the Naira appreciated slightly compared to the N1541.52 exchange last Friday at the official market.The gain means that the Naira responded positively at the official FX market to the intervention of the…

About four persons have been confirmed dead as farmers and herders renewed hostilities in Gwomu village in Karim-Lamido Local Government Area, Taraba State, Northeast Nigeria. Confirming the incident on Friday, spokesperson for the Taraba State Police Command, DSP Gambo Kwache said over 50 cows were also killed in the violent confrontation. DSP Kwache said, “Yes, I can confirm that a total of four persons were killed in the avoidable conflict involving herders and farmers at Gwomu in Karim-Lamido Local Government Area. “Besides human lives, over 50 cows were killed during the violent confrontation involving the two communities.” According to a…

Hurricane Helene caused widespread devastation across Florida and the southeastern U.S. on Friday, leading to at least 41 deaths across four states.With winds up to 140 mph (225 kph), the storm toppled large trees, destroyed homes, and sent rescue teams on urgent missions to save people trapped by rising floodwaters.The Category 4 hurricane also knocked out power in some hospitals in southern Georgia. Governor Brian Kemp noted that authorities had to clear debris and reopen roads using chainsaws.Helene made landfall late Thursday in the rural Big Bend area of Florida, which consists of fishing villages and vacation spots where Florida’s…

With the dangers posed by the consumption of fake and substandard drugs, the Director-General of the National Agency for Food Drugs Administration and Control (NAFDAC), Prof Mojisola Adeyeye has said moves are underway to fix the problem in the country.Expressing her concerns during a one-day sensitization campaign programme, held in Ibadan, the Oyo State capital on Thursday, the NAFDAC boss, who was represented by the Zonal Director of the agency, Roselyn Ajayi, said the agency will pay advocacy visits to churches, mosques, traditional rulers and opinion leaders on how to avoid patronizing people who sell unwholesome and fake products.She said,…

The President of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Festus Osifo has called on the Federal Government to urgently fix the four national refineries and divest the majority share in the facilities to the private sector.Fielding questions from newsmen at the official presentation of the PENGASSAN communique issued arising from its 2024 PENGASSAN Energy and Labour Summit to the media in Lagos on Friday, Osifo said the country’s refineries should be modelled after the Nigerian Liquefied Natural Gas (NLNG) model, which appears to have been successful.“Ramping up efforts to make the nation’s four refineries work…

The President, Bola Tinubu has approved the appointment of seven executive directors for the Nigerian Television Authority (NTA). Special Adviser to the President on Information and Strategy, Bayo Onanuga disclosed this in a statement on Friday.,Onanuga gave the names of the executive directors as Ayo Adewuyi, who was re-appointed Executive Director, News; Ibrahim Aliyu, Executive Director, Special Duties, and Malam Muhammed Fatuhu Mustapha, Executive Director, Administration and Training.Others are, Mrs Apinke Effiong, Executive Director, Finance; Mrs Tari Taylaur, Executive Director, Programme; Mr Sadique Musa Omeiza, Executive Director, Engineering, and Mrs Kemi Fashina, Executive Director, Marketing.The statement said that the appointments…

A former Speaker of the House of Representatives, Yakubu Dogara, has said that contrary to the widely-held belief, President Bola Tinubu was not the one who removed subsidy on petroleum products.Tinubu, on May 29, 2023, at his inauguration in Abuja, had announced that there was no provision for subsidy in the national budget from June 2023, in what is now a popular statement, ”Subsidy is gone.” Speaking on Channels TV on Friday, Dogara said though Tinubu made the pronouncement, he didn’t put the policy in motion.The former speaker said before Tinubu was elected, and assumed power, there was no provision…

The Economic and Financial Crimes Commission (EFCC) has arrested former Governor of Taraba State, Darius Dickson Ishaku, for alleged involvement in a N27 billion fraud.He is currently in custody at the commission’s facility.EFCC spokesman, Dele Oyewale, confirmed the development but declined further comment.An EFCC source informed New Daily Prime News in confidence on Friday night that the former governor will face trial on 15 counts, including criminal breach of trust, misappropriation, and diversion of public funds.Stating that Ishaku’s arrest and detention are part of the EFCC’s ongoing efforts to tackle corruption and ensure accountability in Nigeria’s public sector, the source…

A data released by the Major Energies Marketers Association of Nigeria MEMAN) on Thursday indicated that the landing cost of Premium Motor Spirit, popularly called petrol, has dropped to N981/litre. The petrol landing cost, around N1,130 in previous weeks, came down by over N140 as of September 25, 2024, occasioned the recent drop in global crude oil prices.Crude oil price and foreign exchange rates are the major factors that determine the cost of refined petroleum products including petrol, diesel, aviation fuel, and kerosene, among others.Brent, the global benchmark for crude, traded above an average of 80/barrel in August 2024 but…

The Minister of Works, Dave Umahi, has said that the Federal Government has concluded plans to toll all major roads in the country upon completion of construction and renovation.The minister spoke at an Inter-ministerial press briefing, part of activities to mark Nigeria’s 64th independence anniversary in Abuja on Thursday.He said, ”We have the Lagos-Ibadan (expressway), we are completing it and we are tolling it,” listing some of the roads as Lagos-Ibadan expressway, Second Niger Bridge, Abuja-Kano road and Makurdi 9th Mile, among others.Umahi said private sector members have been engaged “to bring in funds, construct these roads, work with the…