A commercial bus driver simply identified as Lukman died when he suddenly slumped on the wheel while conveying some students of the University of Ilọrin to the school campus. The incident, an eyewitness said, happened on Friday. The eyewitness who is one of the passengers narrated in a viral WhatsApp message that when the incident…
President Bola Tinubu on Thursday inaugurated the Red Rail Line in Lagos with a declaration that Nigerians deserve access to efficient multiple modes of transportation. The 37km intra-state rail line is the second rail projects to be inaugurated by the Lagos State Government in less than one year. The first, Lagos Blue Rail Line, was…
The Federal Government has signed a Memorandum of Understanding with Messrs MPH Rail Development Limited, a United Kingdom company for the construction of the Port Harcourt–Enugu–Calabar–Abuja Standard Gauge Rail Line. The project when completed will be operated under a public-private partnership framework. These details are contained in a statement issued by the Federal Ministry of…
The Debt Management Office (DMO) has debunked claims that a company belonging to the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun has secured a Transaction Adviser deal for the next Eurobond. According to the statement by the agency, the report by some media platforms that Mr. Edun’s Chapelhill had been…
Minister of the Federal Capital Territory, Nyesom Wike, has told the Senator representing the FCT, Ireti Kingibe, that he cannot be coerced into becoming her friend Wike lambasted the Senator, accusing her of blackmailing him instead of communicating her problems through the right channels or better still focusing on her oversight functions. The former Rivers…
The Central Bank of Nigeria (CBN) has reiterated its position on how banks utilize their FX revaluation gains referencing a previous circular dated September 11, 2023. The bank stated that FX revaluation gains should serve as a buffer to cushion significant movement in the FX rate and should not be used to pay dividends or…
President Bola Tinubu says the federal government will continue to partner reputable organizations such as Rotary International in ongoing efforts to eradicate all forms of polio and reduce the prevalence of maternal and infant mortality in the country. President Tinubu, who received Rotary International President, Mr. Gordon Mclnally, his wife, Heather; Rotary’s Polio Ambassador to…
In February, Nigerian households’ buying power weakened further as consumer prices rose, defying the central bank’s recent jumbo interest rate hike. Headline inflation for February rose to 31.70%, matching audit firm KPMG’s predictions in 2023. Food inflation also rose sharply to 37.92%, with staples like bread and yam becoming even more expensive for shoppers.One carton…
NDDC has forged a partnership with the Rice Farmers Association of Nigeria to boost food security in the country. Representing NDDC Managing Director Dr. Samuel Ogbuku, Sir Victor Antai, the Executive Director of Projects, made this announcement during a meeting held at the Commission’s headquarters in Port Harcourt. The meeting was attended by a delegation…
A new plan of the student loan scheme of the Federal Government has been proposed for legislation by the National Assembly. The new plan will ease loan access by students.It was sent yesterday as an Executive Bill to the Senate and the House of Representatives for consideration and passage. Yesterday would have been the official…
