ONE WORD

President Bola Tinubu has approved the establishment of Infrastructure Support Fund (ISF) for the 36 States of the Federation as part of measures to cushion the effects of the petrol subsidy removal on the people. The approval was disclosed at the monthly meeting of the Federation Account Allocation Committee (FAAC), on Thursday July 20, 2023, in Abuja. The new Infrastructure Fund will enable the States to intervene and invest in the critical areas of Transportation, including farm to market road improvements; Agriculture, encompassing livestock and ranching solutions; Health, with a focus on basic healthcare; Education, especially basic education; Power and Water Resources, that will improve economic competitiveness, create jobs and deliver economic prosperity for Nigerians. The Committee also resolved to save a portion of the monthly distributable proceeds to minimize the impact of the increased revenues-occasioned by the subsidy removal and exchange rate unification-on money supply,...

A former governor of Kano State, Dr Abdullahi Umar Ganduje, has been tipped as the national chairman of the All Progressives Congress (APC), Daily Trust reliably gathered last night. Ganduje, 73, was yesterday at the Presidential Villa, Abuja, where he met with President Bola Ahmed Tinubu and three governors who are members of the APC. Barring any last-minute changes, the former governor will be named as interim national chairman of the ruling party, pending the conduct of the convention of the party later in the year. Recall that this paper had exclusively reported on Monday the resignation of Senator Abdullahi Adamu as the party's national chairman. Adamu, following a plot to edge him out, tendered his resignation on Sunday. The national secretary, lyiola Omisore, has also resigned. Ganduie is set to take over from Senator Abubakar Kyari who was named as the acting national chairman on Monday. Kyari, who hails from Borno State, is the deputy national chairman of the party (North)...

Oil marketers have warned Nigerians to prepare to buy petrol for as much as N700/litre in the coming days. This development follows the sudden petrol hike from N540 to N617 per litre on Tuesday by the Nigerian National Petroleum Company (NNPC) Limited. The NNPCL Group Chief Executive Officer, Mele Kyari, on Tuesday, attributed the recent rise in petrol pump price from N540 to N617 per litre to market forces. Kyari offered this explanation Tuesday following a meeting with Vice President Kashim Shettima at the Aso Villa. Against this backdrop, oil marketers have forecasted that petrol might sell as high as N700/litre once fresh products being imported by independent firms start arriving in Nigeria, Naija News gathered. According to the National Controller, Operations, Independent Marketers Association of Nigeria, Mike Osatuyi, Lagos residents should prepare to buy petrol for as high as N600/N620/litre. At the same time, those living up North could pay as high as N700/litre. Osatuyi told ...

  Today marks a momentous occasion as Peter Gregory Obi, the highly esteemed former Governor of Anambra State and former presidential candidate of the Labour Party, is joyfully celebrating his 62nd birthday. The significant event is being commemorated with a special gathering of family, friends, and well-wishers at a prestigious venue in [City]. As a seasoned politician and a respected figure in Nigerian politics, Mr. Obi's contributions extend beyond the boundaries of Anambra State.he contested as the presidential candidate for the Labour Party, presenting a vision of inclusive governance, economic growth, and social development for the nation. During his tenure as Governor, Peter Gregory Obi focused on key sectors such as education, healthcare, and infrastructure, leaving a lasting impact on the lives of Anambra residents. His prudence in financial management earned him accolades and recognition both nationally and internationally. Today's birthday celebration has brought tog...

Women’s hurdles world record-holder, Tobi Amusan, on Wednesday said she has been charged with an alleged anti-doping rule violation, casting doubt on her participation in next month’s world championships. “Today the Athletics Integrity Unit (AIU) has charged me with an alleged rule violation for having 3 missed tests in 12 months,” she said in a post on Instagram. The Nigerian athlete set the current world record for the women’s 100m hurdles of 12.12 seconds at last year’s World Athletics Championships. Amusan, 26, vowed to resolve the charges against her before this year’s competition, set to be held next month in Budapest. “I intend to fight this charge and will have my case decided by a tribunal of 3 arbitrators before the start of next month’s World Championships,” she said. “I am a CLEAN ATHLETE, and I am regularly; (maybe more than the usual) tested by the AIU – I was tested within days of my third ‘missed test.’ I have FAITH that this will be resolved in my favour and that I wil...

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, has attributed the rise in petrol pump prices in Nigeria to market forces. This follows a recent price increase from N540 to N617 per litre, which he said reflects the dynamics of a market-regulated pricing model. Addressing journalists after a closed-door meeting with Vice President Kashim Shettima at the State House, Abuja, Kyari said, “They are just prices depending on the market realities. This is the meaning of making sure that the market regulates itself. Prices will go up and sometimes they will come down also.” However, he debunked notions that the price increase is due to a shortfall in petrol supply. “No, there is no supply issue. It is not a supply issue. “When you go to the market, you buy the product, you come to the market and sell it at its prevailing market price. It has nothing to do with supply. We don’t have supply issues. “We have a robust supply. We’ve had over 32 days...

The Nigerian National Petroleum Company Limited (NNPCL) has increased the pump price of petrol, known as Premium Motor Spirit (PMS), from N537 to N617 per litre. @goldmynetv  reports that the increase, which took effect on Tuesday, is the second in less than two months. In May, a day after President Bola Tinubu was sworn into office, the NNPC increased the fuel price from N195 per litre to N537 per litre. These increases follow the Tinubu-led federal government’s removal of fuel subsidy. This newspaper learnt that the increase has been observed at NNPC filling stations in Abuja, with other stations to join in soon. In the first half of 2023, Nigeria spent N3.6 trillion on fuel subsidy alone. According to the Federal Government, the country will save close to N6.7 trillion if fuel subsidies payment is discontinued. Nigeria has spent N13.7 trillion on fuel subsidy in the last 13 years,