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Latest news summary in Nigeria
The Minister of the Federal Capital Territory (FCT), Nyesom Wike, expressed his disappointment with the repeated variations in project costs within the FCT. This issue has caused concern as the contract cost for the rehabilitation of works on lower Usuma Dam has increased from N20 billion to N50 billion, even though the project was reported to be 90% complete. Wike vows not to accept any further variations and intends to overhaul the engineering services. In addition, the minister discovered that the Usuma Dam Water Works project had not been fully awarded and plans to re-award the contract. Several contracts for completion and payments to contractors have also been approved.
The Lagos State House of Assembly, led by Mudashiru Obasa, has rejected three cabinet nominees of Governor Babajide Sanwo-Olu. This comes after a screening and clearance session in which 18 nominees were considered. The rejected nominees include Engr Olalere Odusote, who had been rejected for the second time, Sam Egube, and Tolani Sule Akibu. Fifteen other nominees were cleared during the session. This article explores the reasons behind the rejection and the impact it may have on the Sanwo-Olu administration.
The Labour Party (LP) has expressed its disappointment and rejected the judgment of the Presidential Election Petitions Tribunal, stating that it did not reflect the law and the desire of the people. The party highlighted the electoral robbery that took place and the tribunal's refusal to accept the obvious. Despite this setback, the Labour Party remains committed to fighting for the will of the people and a better Nigeria.
The National Assembly Election Petitions Tribunal sitting in Umuahia has sacked Hon Amobi Ogah and ordered INEC to issue the certificate of return to Hon. Nkeiruka Onyejeocha of the ruling All Progressives Congress.
Senator Jibrin Echocho, representing Kogi East, has expressed his dissatisfaction with the judgement of the Kogi State Election Petition Tribunal. The tribunal ordered a rerun election in 94 polling units between Echocho and Dr. Victor Adoji, the PDP candidate. Echocho intends to contest the decision at the appellate court, stressing that his victory remains unchallenged until then.
NERC has announced an increase in the prices of single-phase and three-phase pre-paid electricity meters in Nigeria. The decision aims to ensure fair pricing for both Meter Asset Providers and consumers. The price of single-phase meters will rise to N81,975.16k, while three-phase meters will increase to N143,836.10k. This move is expected to enable MAPs to recover their costs and promote a viable return on investment.
Fidelity Bank Plc has announced a remarkable 204.4% increase in Profit Before Tax for the first half of 2023. The bank's financial results showcase significant growth in earnings, loans, deposits, and assets, reinforcing its position as a leading financial institution in Nigeria. The bank's CEO, Nneka Onyeali-Ikpe, expressed satisfaction with the bank's performance and emphasized its commitment to delivering sustainable value to shareholders. Fidelity Bank has been recognized with various awards, highlighting its excellence in serving SMEs and fostering entrepreneurship in Nigeria.
Vice President Kashim Shettima has praised the economic policies of the President Bola Tinubu administration, stating that they are already showing positive results. Shettima highlighted the increased allocations available to states from the federation account, attributing it to the absence of unaccounted fuel subsidies. He emphasized the need for a strong partnership with the banking and finance industry to propel Nigeria's economic growth and rejuvenation. Shettima also outlined the priorities of the Tinubu administration, including food security, poverty eradication, economic growth, access to capital, and improved security. The article discusses the importance of cooperation from stakeholders in implementing these priorities and commends the reform initiatives undertaken by the Tinubu administration.
Generative artificial intelligence (AI) has the potential to revolutionize industries but also presents a menacing threat as a weapon in the wrong hands. Microsoft Vice-Chairman Brad Smith recently highlighted the concerns of generative AI being used by cyber organizations and nation-states for cyber-influence operations. However, Smith also emphasized its value in combating cyber threats and bolstering digital defense capacities.
The University of Lagos (UNILAG) has introduced an instalment payment option for students in response to the recent fee increase. With this new initiative, students can now pay their tuition fees in instalments, easing the financial burden on both new and returning undergraduates. The article provides a breakdown of the payment process and highlights the importance of timely payments for examination dockets and registration.
Workers in Ondo State have partially observed the two-day warning strike declared by the Nigeria Labour Congress (NLC) as some reported to their duty posts following the directive of the state head of service. However, the strike was enforced in some offices by the NLC leadership, who urged the state workforce to cooperate with union leaders.
Nigeria experiences a two-day warning strike as workers from various sectors protest against the government's removal of gas subsidies. The workers' demands include improved welfare and an increase in wages. President Tinubu's economic revamping measures have caused hardship for millions, and the strike threatens to further disrupt the country's largest economy.
Workers from all sectors in Nigeria are demanding improved welfare and protesting the government's removal of gas subsidies. The Nigeria Labor Congress initiated a two-day "warning strike" in response to the rising cost of living and the suffering inflicted on the workers and masses. If their demands, including increased wages, are not met, they threaten to shut down Africa's largest economy. President Bola Tinubu's efforts to revamp the economy have faced criticism for causing hardships without providing sufficient relief. The strike is expected to disrupt activities in many sectors, further impacting the already struggling economy.
The Nigeria Employers' Consultative Association (NECA) has urged the Federal Government to uphold the International Labour Organisation (ILO) Convention (C) 087, which safeguards freedom of association and the right to organize. NECA highlighted the violation of Convention 087 by federal and state authorities and emphasized the importance of maintaining peaceful industrial relations within Nigeria and on an international level.
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