News Update

The separatist group, Indigenous People of Biafra has urged people in the South-East not to join the festering protests by Nigerians against the current economic hardship in the country under the government of President Bola Tinubu. It warned that such protests must not take place in the southeastern states because Igbo had long lost interest in Nigeria and were only waiting for an opportunity to leave.

The Kano State Public Complaint and Anti-Corruption Commission said on Tuesday that it had unsealed the 10 warehouses sealed last week for alleged hoarding of foodstuffs. The chairman of the commission, Muhyi Magaji said the owners of the warehouses had shown up and they were directed to open and sell to the public.

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 The Nigerian Federal Government is planning to raise $10bn to improve liquidity in the foreign exchange market. On Tuesday, the naira fell to an all-time low of 1,850 per dollar at the parallel market. President Bola Tinubu, who was represented by Vice President Kashim Shettima, disclosed this at the inaugural Public Wealth Management Conference in Abuja on Tuesday.

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 President Bola Tinubu has directed immediate settlement of outstanding electricity bills due to the Abuja Electricity Distribution Company, AEDC. According to a statement by his Special Adviser on Information and Strategy, Bayo Onanuga, the President’s directive followed the reconciliation of accounts between the State House Management and AEDC.

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. Arising from a stakeholder meeting on February 20, the Nigerian Association of Road Transport Owners, NARTO, confirmed that it has resumed operations after two days of strike. Its national president, Alhaji Yusuf Lawal Othman also confirmed that the marketers have increased the freight rate of the Premium Motor Spirit, PMS.

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 The federal government has finalised plans to release an additional 60,000 metric tonnes of food grains to make food available and stabilize the price of foodstuff in the country. Minister of Finance and Coordinating Minister for the Economy, Wale Edun made this known in Abuja on Tuesday, February 20, at the Public Wealth Management Conference organised by the Ministry of Finance and the Ministry of Finance Incorporated (MoFI).

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 The ruling All Progressives Congress, APC, has declared Saturday’s primary election in Edo State inconclusive. Addressing newsmen after a meeting, which lasted for about three hours, APC national publicity secretary, Barrister Felix Morka, said the NWC resolved that the primary election has not been completed and has now fixed Thursday for the completion.

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. President Bola Tinubu has fired Moddibo Tukur as the Director/Chief Executive Officer of the Nigerian Financial Intelligence Unit, NFIU, naming Ms Hafsat Abubakar Bakari as his replacement. According to Ajuri Ngelale, presidential spokesman, it is subject to confirmation by the Senate.

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 The Nigeria Customs Service, NCS, has expressed its readiness to distribute seized food items to Nigerians to help mitigate the current hardship in the land. It said the distribution will be done after all the food items have been certified fit for human consumption.

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There are concerns that despite massive increases in revenue allocations available to the various levels of government after the removal of fuel subsidies, state governors are not doing enough to ease the suffering of citizens.

The development comes as Nigerians battle increased economic hardship following the worsening inflation and continuous Naira slip in the market.