Author: VOP Lagos

Kogi State police command has ordered a thorough investigation into the attack on the residence of the State Resident Electoral Commissioner, Professor Hale Gabriel Longpet in Lokoja. This was contained in a statement made available to newsmen in Lokoja on Friday, signed by the state police command’s police public relations officer, SP William Aya. In the statement, the commissioner of police in the state, Bethrand Onuoha, condemned the attack on the REC and tasked the deputy commissioner of police in charge of the Criminal Investigation Department (CID) to commence investigation immediately. The police guards on duty at the residence reportedly…

The Federal Government, through the Nigerian Orientation Agency, has launched a Compressed Natural Gas “Keke NAPEP” to cut down the high cost of transportation. The NOA, in collaboration with the SIMBA Group of Companies, and Ecomead Acres, launched the CNG Keke on Friday, in Abuja. The tricycle reportedly consumes less fuel compared to the existing tricycles that use petrol, and as such will cut down the cost of transportation to the barest minimum. Addressing journalists at the event, the Director General, NOA, Lanre Issa-Onilu said the project is focused on touching the lives of ordinary Nigerians, especially those living in rural…

The Central Bank of Nigeria, CBN, has directed its branches nationwide to continue issuing and accepting all denominations of the old and new naira notes to and from Deposit Money Banks, DMBs. This directive follows the Supreme Court’s acceptance of the prayer of the Minister of Justice and Attorney General of the Federation, AGF, to extend the use of old Naira banknotes till infinity. You will recall that in March the Supreme Court ordered that the old N200, N500 and N1,000 remain legal tender till December 31st, 2023 following the redesign of these denominations. At the backdrop of the approach…

Production of natural gas fell last year despite an N250bn intervention fund provided to fifteen companies. According to an industry report from the Energy Institute in partnership with KPMG, Nigeria’s natural gas production dropped by 4 billion cubic feet meters between 2021 and 2022. The country’s gas production recorded at 39 billion cubic feet meters as of 2012 was on a steady growth and had grown to 49 billion cubic feet meters as of 2020, suddenly crashed 45 billion cubic meters in 2021, and then 40 billion cubic meters last year. According to the report, “The development happened despite a…

Foreign exchange (FX) witnessed an improved dollar supply, which resulted in naira gaining 5.72 percent of value in the official market. After trading on Wednesday one dollar was quoted at N831.47, which was stronger than N881.88 quoted on Tuesday at the Autonomous Foreign Exchange Market (NAFEM), data from the FMDQ indicated. Willing buyers and willing sellers supplied dollars on the spot segment of the market, at a bid rate of N1,159, higher rate and N700 lower bid rate. Consequently, the daily FX market turnover increased by 18.06 percent to $140.35 million on Wednesday from $118.88 million recorded on Tuesday.

Nigeria is facing one of its highest budget deficits on record even after the removal of fuel subsidies that were once a major drain on the country’s finances. The drain of the petrol subsidy on the cash-strapped government’s earnings made a compelling case for its removal on President Bola Tinubu’s first day in charge, yet despite its removal, the federal government is now projecting to spend N9.18 trillion more than it will earn next year. Analysts say the high cost of governance and pockets of inefficient spending within government continue to widen the budget deficit, wiping some of the gains…

The United Nations has urged the international community to progress towards a two-state solution for the Israel-Palestine conflict, emphasizing that Jerusalem be the capital for both states. In a speech authored by UN chief Antonio Guterres, the director-general of the UN office in Geneva, Tatiana Valovaya said it is imperative to decisively and irreversibly move towards a two-state solution based on United Nations resolutions and international law. Gaza City mayor Yahya al-Sarraj says Israeli forces are preventing fuel from entering, adding that the aid that does manage to come in “is not enough either in quantity or quality”. With no…

The Congress of Civil Society, Abia State chapter, on Tuesday, in Onitsha, Anambra State, advised the Chief of Defence Staff, CDS, General Christopher Gwabin Musa, to stop begging Finland Government to rendition Simon Ekpa but rather to fight for Kanu’s immediate release as the only solution to restoration peace that has eluded the people. In a press release signed and issued to newsmen on behalf of the group by the State chapter chairman, comrade Damian Ogudike, he recalled that the hief of Defence staff led other Service Chiefs to appear before the House of Representatives to brief the lawmakers on…