Author: Casey Ayodeji
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FG Approves New 27,000 BPD Refinery in Gombe State
The Federal Government of Nigeria, through the Nigerian Midstream and Downstream Petroleum Regulatory Authority, has announced the approval of a license for the construction of a new 27,000 barrels per day refinery. The refinery will be built by a company called Process Design and Development Limited and will be located in the Dole-Wure area of…
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Namibians Vote in Tight Election as SWAPO Seeks to Retain Power
Voters in Namibia’s capital Windhoek waited in long queues outside polling stations to cast their ballots for a new president and parliament in what could be a tough election for the ruling SWAPO party. SWAPO has governed the southern African nation since leading it to independence from apartheid South Africa in 1990. Its presidential candidate,…
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TCN: ₦8.8bn Spent Repairing Vandalized Power Transmission Towers
The Nigerian Federal Government has disclosed a staggering financial and operational challenge in the power sector, revealing that it has expended approximately ₦8.8 billion to repair transmission towers deliberately destroyed by vandals and bandits across the country. At a Quarterly Power Sector Working Group meeting in Abuja, the Managing Director and Chief Executive Officer of…
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Nigerian Stock Market Plummets ₦209bn After Central Bank Rate Hike
The Nigerian stock market experienced a significant downturn on Wednesday, losing ₦b209 billion in market capitalization following the Central Bank of Nigeria’s (CBN) decision to increase the Monetary Policy Rate (MPR) to 27.50 per cent. The market’s decline was swift and substantial, with the Nigerian Exchange Ltd. (NGX) market capitalization dropping from ₦59.178 trillion to…
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Ex-Kogi Governor Yahaya Bello Pleads Not Guilty to 16-Count Charges by EFCC
The immediate past Governor of Kogi State, Yahaya Bello, and two others have pleaded not guilty to 16 charges brought against them by the Economic and Financial Crimes Commission (EFCC). Bello, the primary defendant, firmly denied the allegations before Justice Maryann Anenih as they were read out in court. His lawyer, JB Daudu, SAN, then…
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Port Harcourt Refinery’s Petrol Price Higher Than Dangote’s, Says PETROAN
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has disclosed that the price of Premium Motor Spirit (PMS), commonly known as petrol, produced by the recently activated old Port Harcourt Refinery is ₦1,045 per liter, ₦75 higher than the price charged by the Dangote Refinery. Dr. Joseph Obele, the Public Relations Officer of…
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Tax Reform: Minimum Wage Earners and Low-Income Nigerians to Pay Less Under Proposed Bills
In a move to make the tax system more equitable, the Nigerian government’s Tax Reform Committee has proposed several changes that will benefit low-income individuals and minimum wage earners. According to Taiwo Oyedele, the chairman of the Presidential Fiscal Policy and Tax Reform Committee, once the new tax laws are enacted, Nigerians earning the minimum…
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Tonye Cole: Nigerian Refineries Will Struggle to Sell Fuel Below N700 Per Litre
A former governorship candidate in Rivers State, Pastor Tonye Cole, has stated that Nigerian refineries cannot sell a litre of Premium Motor Spirit (PMS) for N700 or below at this point. Cole made this assertion during an interview on Channels Television on Tuesday, just hours after the Nigerian National Petroleum Company Limited (NNPCL) announced that…
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Champions League Roundup: Manchester City Stumble, Arsenal Cruise, Bayern Edge PSG
It was a night of mixed results for the Premier League clubs in the Champions League, as Manchester City were held to a 3-3 draw by Feyenoord, while Arsenal cruised to a 5-1 victory over Sporting in Lisbon. At the Etihad Stadium, Manchester City raced into a commanding 3-0 lead, thanks to a brace from…
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Davido Faces Backlash Over Remarks on Nigeria’s Economy
Popular Afrobeats artiste Davido has faced strong criticism and backlash following his recent comments about the state of the Nigerian economy during an appearance on the ‘Big Homies House’ podcast. Davido, known for his timeless hit ‘Dami Duro,’ advised Black Americans against relocating to Nigeria due to the nation’s ongoing economic challenges, citing issues such…