Author: New Daily Prime

The Central Bank of Nigeria (CBN) has authorised Bureau de Change (BDC) operators to purchase up to $25,000 weekly from the Nigerian Foreign Exchange Market (NFEM) to meet seasonal demand for foreign exchange during the holiday period. This temporary arrangement, which was announced in a circular dated December 19, 2024, will be in effect from December 19, 2024, to January 30, 2025. The move is aimed at addressing the increased forex demand typically seen during the festive season. According to the circular, BDCs may purchase foreign exchange from one authorised dealer of their choice, provided they fully fund their accounts…

By Alade Adisa The Academic Staff Union of Universities, ASUU, has said the federal government will kill public tertiary institutions and education in the country with its proposal to phase out the Tertiary Education Trust Fund, TETFund, by 2030. According to the union, such a proposal would not only make futile all the efforts put into setting up the Fund, but would also take tertiary education out of the reach of the poor. The position of the union was made known to New Daily Prime by the National President, Prof. Emmanuel Osodeke, while reacting to the provisions of some sections…

By Alade Adisa Despite what some may see as improved allocation to the sector, Nigeria’s proposed N3.5 trillion federal budget for education in 2025 is still below international benchmark for developing nations. The allocation is just 7.05 percent of the proposed budget of N49.7 trillion. Of the proposed budget, defence got the highest allocation of N4.9 trillion and was followed by Infrastructure which got N4.06 trillion. Education came third. The United Nations Educational Scientific and Cultural Organizations, UNESCO, had suggested long ago that developing nations should devote between 15-20 percent of their budgets to education consistently to be able to…

By Alade Adisa The Academic Staff Union of Universities, ASUU, has said the federal government will kill public tertiary institutions and education in the country with its proposal to phase out the Tertiary Education Trust Fund, TETFund, by 2030.According to the union, such a proposal would not only make futile all the efforts put into setting up the Fund, but would also take tertiary education out of the reach of the poor.The position of the union was made known to New Daily Prime by the National President, Prof. Emmanuel Osodeke, while reacting to the provisions of some sections in the…

A Consultant obstetrician and gynaecologist, Dr Moses Mafowosofo, has advised those suffering from erectile dysfunction to seek medical and psychological attention fast to rebuild their confidence.Mafowosofo, a Co-founder of M2 Specialist Hospital, made the call yesterday during an interview with journalists in Lagos.He added that erectile dysfunction could create a huge psychological problem on patients with regard to sexual activities.He said that many patients with erectile dysfunction had fear of initiating sex.The consultant said that erectile dysfunction could attack self-confidence.“What we have seen in most patients is that when they start medication, they tend to get their confidence back,” he…

A Broadcast journalist and Chairman of Agidigbo 88.7 FM, Ibadan, Oyo State, Oriyomi Hamzat, has been reportedly hospitalised following a stampede at a funfair that claimed multiple lives. The New Daily Prime earlier reported that the tragic incident occurred during a children’s Christmas party organised by Queen Naomi Silekunola Ogunwusi, the former wife of the Ooni of Ife. According to a source who requested anonymity due to the sensitive nature of the matter, Oriyomi has remained unconscious since yesterday, overwhelmed by the shock of the tragic incident. The source further disclosed that he is currently receiving treatment at an undisclosed…

Israel’s military yesterday launched deadly strikes on Houthi targets in Yemen j,ust hours after the Iran-backed militant group’s latest attack on Israel.Nine people were killed and three others injured in Israeli airstrikes on a port and oil facility near the capital Sanaa, said Nasruddin Amer, deputy head of the Houthi media office, in a post on X.Earlier, Houthi-run Al-Masirah TV said the Israeli strikes targeted the Heyzaz and Dhahban power stations near the capital, and the Hodeidah port and Ras Isa oil facility.Israel’s military said the airstrikes were retaliation for Houthi missile and drone attacks on Israel over the past…

The State House has earmarked a significant portion of the 2025 budget for various expenditures, including N15.09 billion for the purchase of tyres for bulletproof vehicles, Sport Utility Vehicles (SUVs), operational vehicles, and plain cars. Additionally, N5.49 billion has been proposed for the annual maintenance of the Presidential Villa. These details were made public in the newly released 2025 Appropriation Bill, presented by the Budget Office of the Federation on Thursday, December 19. The bill was introduced by President Bola Tinubu on Wednesday as part of his administration’s ambitious N49.70 trillion spending plan, titled the “Budget of Restoration: Securing Peace,…

The Nigeria Customs Service (NCS) has announced the removal of Value Added Tax (VAT) on Liquefied Petroleum Gas (LPG), also known as cooking gas, and Compressed Natural Gas (CNG). Additionally, the service has introduced zero per cent import duty on these products. This decision is in line with President Bola Ahmed Tinubu’s commitment to improving Nigeria’s investment climate and increasing domestic gas utilization. The announcement was made by the NCS’s National Public Relations Officer, Mr. Abdullahi Maiwada, in a statement issued on Wednesday. In the statement, the NCS explained that, under the Presidential Gas for Growth Initiative, fiscal incentives were…

The Attorney General of the Federation and Minister of Justice, Lateef Fagbemi (SAN), is expected to meet with the Senate today (Thursday) to review the Tax Reform Bills sent by President Bola Tinubu to the National Assembly. In light of the widespread controversy surrounding the tax reform bills, particularly with resistance from the North, President Tinubu had called for calm and instructed the Attorney General to engage with the National Assembly to resolve the contentious issues. In response, the Senate established a panel to meet with the Attorney General for discussions on the matter. However, the proposed meeting had been…