Category Archives: iPolitics

Naira loses 10% value

Naira-and-dollar-notes

The naira volatility continued almost throughout last year in both the parallel and interbank markets. At the last trading day for the year last Thursday, the naira crashed  further against the dollar while the stock index rose.

Naira closed on the interbank market at 199.50 to the dollar on Thursday, compared with 181.50 to the dollar a year ago, down 9.91 per cent at the official window. On the parallel market, the naira traded at 266 to the dollar, weaker by 39.26 per cent from 191 to the dollar at the close of last year.

Federal Government officially stops petrol subsidy

Fuel-dispenser-360x225

The Federal Government has officially ended the subsidy on premium motor spirit, popularly known as petrol. The latest Petroleum Products Pricing template, issued by the Petroleum Products Pricing Regulatory Agency does not contain the usual subsidy component.

The PPPRA is the government agency that regulates the prices of petroleum products in the country and its template has always offered insights into how the pricing of these products are determined by the regulators.

We won’t import food for school feeding scheme – FG

Yemi-Osinbajo

The Presidency on Sunday explained that the social intervention programmes of the Muhammadu Buhari administration, for which about half a trillion naira has been proposed in the 2016 budget, would not be a one-off scheme.

The Senior Special Assistant on Media and Publicity to the Vice President, Mr. Laolu Akande, who stated this in a statement on Sunday, said the Federal Government would not import food for its school feeding programme.

Lawyers to INEC: allow neutral workers to conduct Bayelsa rerun

INEC-360x225

Lawyers have said the Independent National Electoral Commission (INEC) will fail neutrality test if it allows those who conducted the December 5 “inconclusive” election in Bayelsa State to handle the rerun on January 9.

The lawyers, who conducted legal clinic on Bayelsa election with civil society groups, said their findings revealed that the current composition of INEC in Bayelsa State would not guarantee a free and fair rerun.

$2.1b arms contracts: EFCC detains top military officer

EFCC-OPERATIVES

A top military officer has been detained in connection with the  $2.1billion arms deals.

The officer was a technical aide to a former National Security Adviser(NSA), the late Gen. Owoye Azazi and his successor, Col. Sambo Dasuki (rtd.).

The detention of the officer is said to have created anxiety among military chiefs who were involved in arms procurement.

Dozens dead in US Christmas storms

storms

At least 43 people have been killed over the past five days by severe storms across southern and western parts of the United States.

Flash floods, tornadoes and now snow have destroyed hundreds of homes and businesses and snarled transport links.

The National Weather Service has issued tornado warnings for Texas, Arkansas, Louisiana, Oklahoma and Mississippi.

APGA rejects Bello as Kogi gov-elect

Yahaya-Bello

The Kogi State chapter of the All Progressive Grand Alliance has added its voice to the growing demand for the rejection of Alhaji Yahaya Bello of the All Progressives Congress as the winner of the November 21 governorship election.

Consequently, its candidate in the election, Goodman Akwu, has approached the Kogi State Governorship Election Petitions Tribunal seeking to invalidate the Independent National Electoral Commission’s decision to declare Bello as the winner.

NERC raises electricity tariffs by over 45%

Babatunde-Fashola

The Nigerian Electricity Regulatory Commission on Monday announced new tariffs payable by electricity consumers, indicating increase in charges for different categories of consumers across the country.

The commission, however, abolished the fixed charges and declared that electricity users would only pay for what they consumed.

FG declares Dec 24, 25, 28 public holidays

FG (1)

The Federal Government has declared December 24, 25 and 28 public holidays to mark Maulud Nabiy, Christmas Day and Boxing Day, respectively.

The Minister of the Interior, Lt.-Gen. Abdulrahman Dambazau (retd), made the declaration on Thursday in Abuja in a statement signed by the Permanent Secretary in the ministry, Mr. Bassey Akpanyung.

Buhari: we’ll stop military weapons purchase fraud

Muhammadu-Buhari-360x240

President Muhammadu Buhari yesterday spoke of his administration’s plan to sanitise defence purchase procedure, which went crazy in the Goodluck Jonathan administration.

He said his administration would urgently restore order, due process and probity in the procurement.

He spoke during a meeting with British Secretary of State for Defence Michael Fallon at the Presidential Villa in Abuja.