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The Nigerian Senate is set to investigate the fuel subsidy and under recovery regime of the Federal Government, which has cost around N9.3 trillion. This move comes as the Senate seeks to cushion the effects of fuel subsidy removal by pushing for a living wage for workers. It also calls for the establishment of three functional refineries to lower the pump price of fuel. The Senate's resolution aims to carry out a holistic investigation into the controversial expenditure and collaborate with major international oil companies to build refineries.
FMDQ has acquired a 21.6 percent equity stake in Central Securities Clearing System Plc (CSCS) through significant share acquisitions. This development positions FMDQ as a key shareholder in CSCS, the central securities depository and clearing infrastructure for the Nigerian capital markets. The article delves into the implications of this acquisition and highlights CSCS' commitment to its strategic objectives.
A road accident involving multiple vehicles in Nigeria's Enugu State has resulted in the deaths of six people and left 14 others injured. The collision, which occurred near Enugu city, involved a gas tanker and a truck, among other vehicles. Enugu State's deputy governor, Ifeanyi Ossai, visited the accident site and confirmed that an investigation is underway to determine the cause of the tragic incident. Road accidents are a common occurrence in Nigeria, often resulting from factors such as overloading, poor road conditions, and reckless driving.
Imo State Governor, Senator Hope Uzodimma, hosted a meeting of Southeast Leaders to address the issue of insecurity in the region. The leaders discussed their concerns and plans to collaborate with the Federal Government to tackle the problem. President Bola Ahmed Tinubu was identified as a key figure who can support their efforts.
OPEC's Secretary General, Mohammad Barkindo, predicts a 23% increase in global energy demand by 2045 and emphasizes the need for innovative solutions like carbon capture and circular carbon economy. He also highlights the need for substantial investment in the oil industry.
The Nigerian National Petroleum Corporation (NNPC) has announced the discovery of stolen crude oil in a ship bound for Cameroon. The ship was intercepted in open waters and approximately 800,000 liters of crude oil were seized. Nigeria, one of the world's top oil producers, has been plagued by oil theft, causing billions of dollars in losses each year.
The Gombe State Police Command engaged a group of armed robbers in a deadly encounter, resulting in the death of one suspect. This recent development showcases the police force's efforts to combat crime in Gombe State, Nigeria.
Greenville LNG, in collaboration with the Nigerian National Petroleum Company (NNPC) Limited, has successfully installed an LNG tank and other equipment at the Maiduguri Emergency Power Plant (MEPP) in Borno state. This achievement highlights the company's commitment to driving economic growth and promoting the use of gas in Nigeria.
The chairman of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Ejigbo Satellite Depot, has expressed concern over the incessant activities of pipeline vandals in the Idimu area of Lagos. IPMAN is concerned about the setback these acts of vandalism pose to the uninterrupted supply of petrol in Lagos and the Southwest region of Nigeria. The association appreciates the efforts of the security agencies involved in apprehending the culprits and calls on the Lagos State Government to be proactive in protecting NNPCL pipelines within the state.
Minority parties in the Nigerian Senate have come together to demand chairmanships of committees as a united front. This move aims to establish a stronger influence and shape policy outcomes within the Senate. It remains to be seen how successful this strategy will be.
The Tertiary Education Trust Fund (TETFund) has given the National Association of Nigerian Students (NANS) the responsibility to monitor projects in various institutions across the country. This move aims to enhance transparency and ensure the diligent execution of projects. TETFund believes that students' interests are essential in development programs and has tasked NANS with reporting any issues concerning contractors.
The wife of the Governor of Ebonyi State, Mrs. Mary-Maudline Ogbonna Nwifuru, has pledged to speed up the reconstruction and renovation of the remand home in the state. She has promised to be personally invested in the project and ensure that the children in conflict with the law are provided with a decent and suitable center where they can receive counseling and guidance. The remand home will also include a skill acquisition center to teach the minors to be self-reliant and contribute positively to society.
The Lagos State Taskforce is gearing up to intensify efforts in eliminating street trading on state highways and major streets in the Lagos metropolis. With a focus on ensuring the safety and security of Lagosians, the Taskforce will collaborate with other governmental agencies to enforce the complete ban on street trading. This proactive approach comes after the recent closure of Eko Bridge due to a fire outbreak caused by street traders. The Taskforce emphasizes its commitment to maintaining order on the highways and urges Lagosians to support the vision of transforming Lagos into a mega city.
The Kebbi state government, under the leadership of Governor Ahmed Idris, has successfully secured the release of 30 abducted individuals from the hands of bandits in Danko/Wasagu local government area. This commendable achievement showcases the state government's tireless efforts in combating criminal activities and ensuring the safety of its citizens. The release of the abducted individuals is a testament to the collaborative efforts between the government and security agencies, as well as the positive impact of increased financial support and improved morale of security personnel.
Cocoa farmers in Ondo State are set to return to court on Monday to file contempt proceedings against SAO Agro-Allied Services Limited over the continued grading of their farmlands. The farmers have also motioned to include the son of the Ondo State Governor in the case. This article explores the ongoing land grading dispute and its implications for cocoa farmers in the region.
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