ONE WORD

Aliko Dangote's $20.5 billion oil refinery in Nigeria promises to reduce petroleum prices, marking a significant milestone for the nation's energy industry. Controversy arises as Dangote plans to hire 11,000 Indian workers for the refinery, leading to public outrage in Nigeria due to concerns about local employment opportunities. The Sub-Saharan African Skills and Apprenticeship Stakeholders Network explains that the decision to hire Indian workers was influenced by a perceived lack of necessary skills among Nigerian youth. In May 2023, Aliko Dangote, Africa's richest man, triumphantly unveiled his gigantic oil refinery in Nigeria, promising that petroleum prices will be reduced to a certain degree, as a result. The long-awaited project marks a watershed moment in the country's energy industry and Dangote's ambitious plans. The much-awaited project represents an important turning point for the nation's energy industry and Dangote's ambitious endeavors. While

The naira maintained its downward trend against the dollar as it traded for 876/$ at the parallel market on Sunday. Some Bureau de Change operators, who spoke to Newsmen, said the local currency had earlier exchanged to the dollar at 820 a week earlier. Since the unification of the exchange rates in the country by the Central Bank of Nigeria in recent weeks, the naira had continued to slide to the dollar, due to liquidity crunch, speculations, and other challenges. Speaking with our correspondent, a BDC operator in Lagos, Alhaji Sanni Abdul, stated, “Naira is currently bought and sold at 850/$ and 876/$. The exchange rate has not been stable for some time now.” Another BDC operator, Alli Ibrahim, said, “Things are getting more expensive. As of Friday, we were buying and selling the naira at 850/$ and 865/$.” Chief Executive Officer, Centre for the Promotion of Private Enterprise, Dr. Muda Yusuf, said the foreign exchange market was evidently under pressure as a result of a number of fa

The management of the University of Lagos, Akoka, Lagos State has reportedly increased fees for undergraduate students in the institution. This was contained in a statement dated July 20, 2023, by the Senior Staff Association of Nigerian Universities, UNILAG branch following a meeting with the top management staff. The union, in the statement, said the VC stated that fees would be increased for UNILAG undergraduate students. Recall that the students of the institution previously paid N19,000 but the management has fixed new fees at N190,250 for students studying medicine while for courses that require laboratory and studio, students are to pay N140,250. According to SSANU, the VC, Prof. Folasade Ogunsola met with representatives of the three non-academic staff unions on Thursday, July 20th to discuss issues concerning members’ welfare. “During the meeting, the proposed fees for undergraduate students of UNILAG were disclosed. “Students without lab and studio use will pay N100,750, thos

The Federal Government through the Federal Ministry of Education has increased the school fees of new students into Federal Government Colleges otherwise known as Federal Unity Colleges to ₦100,000. This was contained in a directive from the Office of the Director of Senior Secondary Education Department of the Federal Ministry of Education, reference number ADF/120/DSSE/I, dated 25th May, 2023, and addressed to all Principals of Federal Unity Colleges. According to the circular entitled, “Approved fees/ charges for Federal Unity Colleges (1st Term) for new students“, signed by the Director of Senior Secondary Education, Hajia Binta Abdulkadir, new students are expected to part with ₦100,000 instead of the previous N45,000. “The latest fees/charge increment will affect virtually all aspects and activities of the school, including tuition and boarding fees, uniform, text books, deposit, exercise books, prospectus, caution fee, ID card, stationery, clubs and societies, sports, extra less

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