Friday, May 3

The Nigerian Defence Headquarters Reports 715 Terrorists Killed and 465 Hostages Rescued in April
3May By Mariam AbdullahiNo Comments
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The Nigerian Defence Headquarters Reports 715 Terrorists Killed and 465 Hostages Rescued in April

In April, the Nigerian Defence Headquarters announced that over 715 terrorists were eliminated while 465 kidnapped hostages were rescued during coordinated ground and air operations. The Director of Defence Media Operation, Maj-Gen Edward Buba, shared these accomplishments during a bi-weekly media briefing in Abuja. Emphasizing the necessity of defeating terrorist groups to ensure the safety of citizens, Buba highlighted the success of the operations in neutralizing the threat posed by terrorists. The operations in April involved various tactics such as ambushes, raids, and fighting patrols, with aerial assets pinpointing terrorist leaders and their strongholds. The coordinated efforts between ground and...
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Importance of Vaccination Across All Age Groups
3May By Mariam AbdullahiNo Comments
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Importance of Vaccination Across All Age Groups

The term immunization often brings to mind the protection of infants and young children against diseases like polio, measles, and mumps. Childhood immunization programs are commonly associated with essential vaccinations that guard against these illnesses. However, vaccination goes beyond childhood as it serves as a fundamental aspect of preventative medicine that extends throughout one's lifetime. While crucial for children, vaccination is equally beneficial for adults. By leveraging the body's natural defenses, vaccines boost immunity against specific infectious diseases, fortifying the immune system and providing protection before potential exposure. Therefore, the scope of vaccines transcends age boundaries, benefiting individuals of all ages. Despite this, ...
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Acclaim for Tinubu’s Role in Ikorodu-Epe Road Rehabilitation
3May By Mariam AbdullahiNo Comments
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Acclaim for Tinubu’s Role in Ikorodu-Epe Road Rehabilitation

President Bola Tinubu has received praise from Lagos-based businessman and educationist, Dr. Oladega Adebogun, for the efficient rehabilitation of the Ikorodu-Imota-Itoikin-Epe road, which had long been neglected. In a statement released on Wednesday by Mr. Abimbola Olulesi, the Director of Public Relations at Caleb University, Adebogun applauded Tinubu's swift action in addressing the poor state of the road. Describing the road as one of the most dilapidated in Nigeria, Adebogun commended the President for restoring hope among residents and commuters who had lost faith in its repair.  Highlighting the road's previous status as one of the worst in Lagos state and the country as a whole, Adebogun emphasized the challenges faced by users, particularly during unfa...
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About 9,000 marketers face possible license revocation, request intervention from the Federal Government
3May By Mariam AbdullahiNo Comments
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About 9,000 marketers face possible license revocation, request intervention from the Federal Government

•IPMAN urges NMDPRA and NNPC to prevent fuel crisis by not delisting operators from sales portal •Persistent queues as more filling stations open and pump prices slightly drop In the midst of the fuel scarcity crisis faced by Nigerians, over 9,000 oil marketers are at risk of losing their operational licenses. To address this issue, Independent Petroleum Marketers Association of Nigeria is calling for an extension of the final deadline for license renewal until July by the Nigerian National Petroleum Company Limited. The association also pleads with the Nigerian Midstream and Downstream Regulatory Authority to release the already processed licenses to its members. This appeal was conveyed through a statement signed by the National Public Relations Officer, Chief Chinedu Ukadike, in Abu...
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Rauf Aregbesola’s Membership Status in APC
3May By Mariam AbdullahiNo Comments
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Rauf Aregbesola’s Membership Status in APC

In the recent Osun State Central Senatorial meeting of the All Progressives Congress (APC), the former Osun State Commissioner for Local Government and Chieftaincy Affairs, Mr. Adebayo Adeleke, disclosed that the former Minister of Interior, Mr. Rauf Aregbesola, is currently not affiliated with the APC. Mr. Adeleke, who previously served as a commissioner under ex-governor Adegboyega Oyetola's administration, made this statement. Oyetola now serves as the Minister of Marine and Blue Economy. During the event in Osogbo, the state capital of Osun, Adeleke emphasized that serious party members in Osun State are aware of Aregbesola's non-membership status in the APC. Aregbesola, who was the Governor of Osun State from November 27, 2010, to November 27, 2018, was succ...
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Call by Governors for Sustainable Minimum Wage
3May By Mariam AbdullahiNo Comments
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Call by Governors for Sustainable Minimum Wage

During its virtual meeting, the Nigeria Governors’ Forum stressed the importance of establishing a sustainable minimum wage through current negotiations between the government and organized labor. Chairman of the NGF and Kwara State Governor, AbdulRahman AbdulRazaq, affirmed in a communique that the governors are dedicated to enhancing worker salaries. Meanwhile, the Nigeria Labour Congress and Trade Union Congress cautioned state governors against neglecting the approved new minimum wage in the ongoing discussions. In efforts to evaluate the N30,000 minimum wage established during former President Muhammadu Buhari’s administration, a tripartite committee led by President Bola Tinubu was formed in January, comprising government, labor, and private sector delegates. Recently, the NLC a...
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Improvement of Technological Adoption Advocated by Procurement Practitioners
3May By Mariam AbdullahiNo Comments
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Improvement of Technological Adoption Advocated by Procurement Practitioners

A call has been made by the Association of Public Procurement Practitioners of Nigeria, Lagos State Chapter, for the integration of e-procurement systems into public procurement processes. During the first capacity-building workshop held for participants in Lagos, Mr Fatai-Idowu Onafowote, the Director-General of Lagos State Public Procurement Agency, highlighted in his presentation the potential revolution that AI-powered analytics and blockchain technology could bring to enhancing the efficiency and transparency of public procurement processes. Emphasizing the critical role of public procurement in the acquisition of goods and services by government entities, Onafowote stressed its significance in public administration and economic development. Onafowote urged...
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Naira’s official market close at 1,402 per dollar amid ongoing demand for the US dollar
3May By Mariam AbdullahiNo Comments
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Naira’s official market close at 1,402 per dollar amid ongoing demand for the US dollar

On Thursday, the naira experienced a decline in value at the official market, falling to N1,402 against the US dollar. Data from the FMDQ exchange securities shows that the naira decreased by N12 or 0.86%, compared to the N1,390 rate recorded at the close of trading on Tuesday. No trading occurred on Wednesday due to the celebration of Worker’s Day. Over at the Nigerian Autonomous Foreign Exchange Market, the intraday high settling at N1,445 on Thursday marked a weakening from the N1,450 recorded on Tuesday. Similarly, the intraday low also dropped to N1,299 on Thursday, down from N1,200 on Tuesday. Dollar supply at NAFEX saw a 3.1% increase, rising by $7 million to $232 million on Thursday compared to the $225.36 million recorded on Tuesday. The naira's depreci...
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Government’s Borrowing Activity: N11 Trillion Raised through Bonds and T-Bills in Four Months
3May By Mariam AbdullahiNo Comments
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Government’s Borrowing Activity: N11 Trillion Raised through Bonds and T-Bills in Four Months

In the span of four months, the Federal Government successfully raised a total of N11 trillion through auctions and sales of Treasury bills and savings bonds, as per recent research by NewsNow. A closer examination of the results from bond and bill issuances by the Central Bank and the Debt Management Office for the period of January to April 2024 revealed that the government secured N3.1 trillion from FGN bonds and 7.92 trillion from T-bills, amounting to a total of N11.2 trillion. These bonds are integral tools in the government's debt management strategy, serving various purposes such as providing a secure investment option for investors, aiding in the regulation of the country's debt profile, and enabling efficient fund management. Treasury bills and FGN bond...
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Mortgage Stamp Duty Charges Directive from FG
3May By Mariam AbdullahiNo Comments
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Mortgage Stamp Duty Charges Directive from FG

A recent directive from the Federal Government instructs Deposit Money Banks to commence immediate deduction of a 0.375% stamp duty charge on all mortgage-backed loans and bonds. Mortgage-backed loans involve financial institutions extending loans to individuals or entities for home purchases, with repayment over time with interest, while bonds are debt securities issued by various entities to raise capital. This new mandate, relayed to customers by banks as per the Federal Inland Revenue Service, expands the stamp duty charges to cover foreign transactions and loans, in addition to regular bank transfers, aligning with the tax authority's efforts to improve fiscal performance. In a related development, banks were previously instructed in January to deduct stamp...
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