Author: Alade Adisa

The Federation Account Allocation Committee (FAAC) has disbursed a total sum of N 1.424 trillion to federal, state and local governments. The total amount is derived from the federation account revenue generated in December 2024. The disbursement, which was made at the January 2025 FAAC meeting held in Abuja on Friday comprising distributable statutory revenue of N386.124 billion, distributable Value Added Tax (VAT) revenue of N604.872 billion, Electronic Money Transfer Levy (EMTL) revenue of N31.211 billion and Exchange Difference revenue of N402.714 billion. According to a communiqué issued by the committee, the total gross revenue of N2.310 trillion was available…

Owing to the prevailing hardship in the country, the Federal Government has unveiled the Youth Farmers Enrollment Portal strategic initiative designed to address the growing challenges of unemployment and food insecurity across Nigeria. Disclosing the development on Friday, the Minister of Youth Development, Ayodele Olawande, in a statement by Director, Information & Public Relations, Omolara Esan said the initiative is importance in creating economic opportunities for young Nigerians and strengthening the agricultural sector. The minister said the initiative was part of the Nigerian Youth Economic Engagement De-Radicalisation programme. The statement read, “This intervention is designed to align you people with…

At any moment now, Reno Omokri, a former Special Assistant on New Media to then-President Goodluck Jonathan, may become a prison inmate as the Police have obtained a ”Remand Order, Launch Search For Reno Omokri Over Alleged Defamation Of Dunamis Church Pastor, Paul Enenche.” With this, the police are looking for Omokri, the political commentator with the most followers on X (formerly Twitter) in Africa. The Police secured the order from the Chief Magistrate Court of the Federal Capital Territory, Wuse Zone 6, Abuja, to remand Omokri in prison custody along with former Dunamis Church Pastor Abraham Daniel and two…

Following the hike in the cost of Premium Motor Spirit (PMS), also known as petrol by the Dangote Petroleum Refinery and various depot owners, the pump prices of the commodity have risen to between N1,050 and N1,150/litre at different areas of the country. Oil marketers have before now predicted the continued rise in petrol prices as long as the major component in fuel production, crude oil, continue to be on the upward swing as the case had been in recent times. Anticipating the development, the National President of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Festus…

President Bola Tinubu has agreed to support the creation of Ijebu State after a high-level meeting with the Awujale of Ijebuland, Oba Sikiru Kayode Adetona, at his Lagos residence on January 5, 2025, sources have said. The meeting addressed the long-standing demand for Ijebu State to be carved out of Ogun State, a proposal that has been under consideration for decades. The Awujale emphasized the historical significance of Ijebu as the only colonial-era province yet to attain statehood. Highlighting the region’s viability, the monarch outlined its resources, including industrial estates, an expanding airport, and other infrastructure that could support a…

Manchester City striker, Erling Haaland has signed a new long-term deal with the club that will keep him at the Etihad until 2034. The Norwegian joined City from Dortmund in 2022 and has scored 111 goals in 126 games for the club since. The striker’s previous deal, which reportedly included a release clause, had been due to expire in 2027. Haaland’s new deal would see the striker remain with City until his 34th birthday should he stay at the club until its expiry in nine-and-a-half years’ time. The length of Haaland’s deal is the longest in the Premier League, eclipsing…

Football icon, and Brazil’s highest goal scorer, Neymar Jnr has disclosed that his decision to join Barcelona instead of Real Madrid was guided by his heart rather than logic. In an exclusive interview with another Brazilian football legend, Romário, published on Friday, Neymar opened up about the pivotal days leading to his career-defining move. He expressed his deep affection for Barcelona and the emotional connection that ultimately influenced his choice. “I don’t regret my choice to pick Barcelona over Real Madrid. I went with my heart there,” Neymar said. The forward explained that he had been a long-time admirer of…

Newly-enthroned Speaker of the Lagos State House of Assembly, Mojisola Meranda, has pledged to collaborate with other arms of government to achieve the vision of a “Greater Lagos.” Presiding over her first session as Speaker on Friday, Meranda announced the appointment of new principal officers to steer the affairs of the House. The Lagos Speaker named Temitope Adedeji, representing Ifako/Ijaye Constituency 1, as the Majority Leader, while Richard Kasunmu, representing Ikeja Constituency 2, was appointed Deputy Majority Leader. David Setonji assumed the role of Chief Whip, with Ganiyu Sanni, representing Kosofe Constituency 1, as Deputy Chief Whip. The Speaker also…

The President, Asiwaju Bola Tinubu has lavished praises on state governors under the platform, Nigeria Governors’ Forum (NGF) following their unanimous endorsement of the Tax Reform Bills currently being deliberated upon by lawmakers at the national assembly. The president, in a statement by his Special Adviser on Information and Strategy, Bayo Onanuga on Friday, commended the governors for “their bold leadership and commitment to fostering unity among leaders nationwide.” The statement is titled ‘President Tinubu commends Nigeria governors for supporting tax reform initiatives.’ Tinubu said the consensus transcends regional, ethnic and political barriers to advance Nigeria’s development. NEW DAILY PRIME…

The International Monetary Fund (IMF) chief economist, Pierre-Olivier Gourinchas, has said incoming United States President Donald Trump’s economic plans risk reigniting US inflation, just days before the president-elect is set to return to the White House. Gourinchas spoke with AFP at the IMF’s headquarters in Washington, ahead of the publication of its key World Economic Outlook (WEO) report on Friday. The president-elect’s proposals to increase tariffs and restrict immigration could constrain the supply side of the economy and drive up prices, Gourinchas said in the interview. Other plans floated by the president-elect, such as reducing regulations and cutting taxes, could…