Borno State Governor, Babagana Umara Zulum, has constituted a committee to examine and ascertain the cause of the collapse of Alau Dam. The dam collapsed last month resulting in the flooding of Maiduguri Metropolis and its surrounding local government areas. The severe flooding displaced nearly 2 million people, led to deaths and destroyed several properties. The dam was constructed between 1984 and 1986 to provide water for irrigation and domestic use for the inhabitants of Maiduguri and its environs. The secretary to the Borno State Government, Bukar Tijani, in a statement on Friday night, announced the committee to comprise the following…
Author: Abdoulaye Kay
The Federal Ministry of Solid Minerals Development has cautioned the Osun State Government against jeopardizing the Federal Government’s efforts to attract Foreign Direct Investments by closing down a gold mining site. The Minister of Solid Minerals Development, Dr Dele Alake, disclosed this on Friday, October 5, 2024, via his X page. Alake is reacting to claims and counterclaims between the Osun State Government and Thor Explorations Limited, the owner of Segilola Resources Operating Limited (SROL), regarding alleged taxation and operational issues. On September 30, 2024, the Osun State Government reportedly sealed the business premises of SROL, insisting that a court ordered…
Nigeria’s debt payments have surged by 69% in the first half of 2024, reaching N6.04 trillion, up from N3.58 trillion recorded in the same period of 2023. This sharp rise in debt service obligations, likely driven by naira devaluation for foreign debt repayments, reflects the growing burden on the Federal Government as debt repayments consume a significant portion of its financial resources. According to data from the latest statistical bulletin of the Central Bank of Nigeria (CBN), debt service in H1 2024 made up 50% of the total expenditure of N12.17 trillion and a staggering 162% of the N3.73 trillion…
Juma Jux, fiancé of Priscilla Ojo, daughter of actress Iyabo Ojo has showered her with luxurious gifts. The gifts included two iPhones, a bouquet of red roses, a pack of chocolates and several dollar notes. Priscilla shared a glimpse of the thoughtful gesture on her Instagram Story, along with a note from Juma expressing his gratitude and love. In the note, Juma wrote: “You’ve brought so much happiness into my life, more than I ever thought possible. Your love, kindness, and support mean the world to me, and I am truly grateful for every moment we share. I promise to…
Rivers State Governor Sim Fubara has challenged the Inspector General of Police (IGP) Kayode Egbetokun, that the Police would have to shoot him for the local government election billed for Saturday, October 5 not to hold. Rivers State Police Command earlier vowed not to allow the election to be held. In a statement signed by its spokesperson Grace Iringe-Koko, the Command confirmed receiving a restraining order preventing the police from providing security during the LGA elections. The Command also said it is aware of the September 30, 2024 ruling of a Federal High Court in Abuja which barred the police…
Borno State Governor, Babagana Zulum, has submitted a supplementary budget of N61 billion to the Borno State House of Assembly to address the critical infrastructure needs following the recent flood disaster that ravaged the state. The supplementary budget seeks to amend the previously signed N358.7 billion budget, increasing the total to N419.7 billion. Speaker Abdulkarim Lawan presented the governor’s request during a plenary session on Friday. The September 10 floods severely impacted Maiduguri and surrounding communities, displacing about two million people, submerging vast areas, and destroying approximately 200,000 homes. Governor Zulum emphasized the urgency of the situation, noting that critical…
The Central Bank of Nigeria (CBN) says it sold $543.5 million to authorised dealer banks between September 6 and 30. According to a statement issued by Omolara Duke, the Director of the Financial Markets Department of the CBN, the transaction was through a two-way quote at the Nigeria Foreign Exchange Market (NFEM) on 11 dealing days. Duke said that the spot sales were to reduce observed market volatility driven by high demand for commodity imports and seasoned demand for FX. She said that the value date for all the transactions was T+2, which refers to the settlement dates of security…
The Federal Government says 63 items have been exempted from Value-Added Tax (VAT). Taiwo Oyedele, the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, disclosed this in a post on X on Friday. The exempted items, according to him, are contained in an official gazette for the ‘Value Added Tax (Modification) Order, 2024,’ dated September 3, 2024. It comes two days after the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, announced the introduction of concessions aimed at revitalising the oil and gas industry to ensure a boost in Nigeria’s upstream and downstream sectors. The minister…
Guaranty Trust Holding Company Plc (GTCO), formerly Guaranty Trust Bank (GTBank) has refuted recent media reports circulating false information about its business operations and executive management team. In a statement issued late Friday, GTCO dismissed the allegations as baseless, urging its customers, shareholders, and stakeholders to disregard the misleading news. The company reassured the public that its executive management team is not under any financial or regulatory investigation, as falsely claimed. The statement emphasized that GTCO is taking legal action to address the smear campaign, stating: “Due to the persistent spread of fabricated news concerning our business activities and executive…
Kebbi State Governor, Dr. Nasir Idris, has inaugurated the Argungu International Fishing and Cultural Festival Committee. The event took place this Wednesday at the Council Chamber of the Government House in Birnin Kebbi. The 21-member committee is chaired by the State Deputy Governor, Senator Umar Abubakar Tafida, while the former Head of Service and current Special Adviser to the Governor on Civil Service Matters, Safiyanu Garba Bena, will serve as the Secretary and Director General. During the inauguration, the Secretary to the State Government (SSG), Yakubu Bala Tafida, announced the names of the committee members. In his inaugural remarks, Governor…