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Good morning! Here Are Some Major News Headlines In The Newspapers Today: IPMAN opposes subsidy removal

Published

11 months ago

May 30, 2023

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1. The Independent Petroleum Marketers Association of Nigeria has opposed the plan by President Bola Tinubu to enforce his predecessor’s decision to remove fuel subsidy by June ending. Tinubu had earlier on Monday, in Abuja, affirmed that his administration would not continue to pay subsidy on petroleum products.

2. President Bola Tinubu, on Monday, in Abuja, took the oaths of office and allegiance as the 16th President of Nigeria with a vow that the country would not break up. Tinubu in his inaugural address at Eagle Square also unveiled a series of steps he would take to position the country on the path of economic development, stability and prosperity.

3. Former President Goodluck Jonathan has said members of his cabinet feared being jailed when the immediate past President, Muhammadu Buhari, won election in 2015. Jonathan, while speaking in an interview aired by Arise TV on Monday, said some of his cabinet members even felt he would run away, but he stayed in the country.

READ VAT BATTLE: FIRS' move to amend law dead on arrival —Akeredolu

4. Men of the Lagos State Police Command are currently working to unravel the circumstances surrounding the death of a woman and her two daughters in a shop around PPL, Ijagun Okokomaiko area of the state. The deceased, whose identities could not be immediately ascertained, were said to have locked themselves inside the shop for two days before their corpses were recovered.

5. Media tycoon and founding Chairman, Daar Communications Limited, Raymond Dokpesi, is dead. His death was confirmed in a statement on Monday by his son and Chairman of Daar Communications, Raymond Dokpesi Jnr.

6. The new Governor of Zamfara State, Dauda Dare, on Monday, cried out, saying that he met an empty treasury. Dare, who spoke immediately after his swearing-in at the Trade Fair Complex in Gusau, stressed that he did not meet anything in the treasury when he took over the affairs of the state from his predecessor, Bello Matawalle.

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7. The President of the United States of America, Joe Biden, has expressed the desire to work with the newly sworn-in President of Nigeria, Bola Tinubu. This was disclosed in a statement, on Monday, from Biden to Tinubu while felicitating with the new Nigeria President.

8. New Plateau State governor, Caleb Mutfwang has said he inherited a state with a debt burden of N200 billion. He disclosed this in his inaugural speech after his swearing-in ceremony in Jos, the state capital.

9. Petrol stations in Lagos started witnessing queues a few hours after President Bola Tinubu announced that “fuel subsidy is gone”. It was observed that NNPC stations in Ikeja were crowded by motorists who rushed to buy the product.

10. The Kogi State Government has launched an investigation into the causes of the death of five of its citizens whose car plunged into a canal in the state on Friday. The state Commissioner for Information and Communications, Kingsley Fanwo, made this known in a statement issued in Lokoja on Monday.

READ Tinubu goes to Paris for global pact signing

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BREAKING: FG, states, LGs share N1.123tn in March

Published

5 hours ago

April 19, 2024

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The Federation Account Allocation Committee has disbursed a total of N1.123tn to the federal, state, and local governments for March 2024.

The allocation, derived from a gross total of N1.867tn, marks a critical distribution of funds aimed at supporting various government tiers.

This was revealed in a statement signed by the Director of Information and Public Relations, Ministry of Finance, Mohammed Manga, on Friday.

FAAC has the duty of examining and approving the distribution of financial resources to the states and the Federal Government.

Monthly, this committee is tasked with the disbursement of funds across Nigeria’s 36 states and its 774 local government areas.

This allocation is anticipated to drive progress and support governmental bodies across various tiers in executing their duties.

The FAAC shared N1.152.trn to the three tiers of government for February 2024 from a gross total of N2.326.14trn.

Manga stated that the Accountant General of the Federation, Mrs. Oluwatoyin Madein, chaired the meeting and highlighted the importance of the allocation.

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This distribution is pivotal in ensuring that all government levels have the necessary funds to continue their development projects and provide essential services to the citizens,” the statement read.

The statement noted that the Federal Government received N345.890bn, states, and local governments received N398.689bn and N288.688bn, respectively, while oil-producing states received N90.224bn as 13 per cent mineral revenue derivation.

The FAAC statement also noted an increase in the gross revenue from Value Added Tax for March 2024, amounting to N549.698bn—an N89.210bn rise from the previous month.

This increase reflects the country’s economic growth and improved tax compliance.

Despite the positive trend in VAT, the Gross Statutory Revenue of N1.017tn for March was lower than February’s N1.192tn by N175.212bn.

The decrease has been attributed to reductions in excise duty, oil royalty, petroleum profit tax, customs external tariff levies, and electronic money transfer levy.

The balance in the Excess Crude Account as of April 2024 stands at $473,754.57, indicating a reserve for future financial stability.

READ Lagos cancels 50% discount on public transport

The statement noted that the FAAC’s decision to allocate these funds is expected to bolster economic activities across the nation and support the government’s efforts in improving infrastructure, healthcare, education, and other vital sectors.

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Tinubu appoints Emomotimi Agama as SEC DG

Published

6 hours ago

April 19, 2024

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President Bola Tinubu has appointed Emomotimi Agama as the director general of the Securities and Exchange Commission (SEC).

Ajuri Ngelale, special adviser to the president on media and publicity, disclosed this in a statement on Friday.

Details later…

READ I will be a listening president, Tinubu tells Edo residents

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Army releases Delta monarch declared wanted over Okuama killings

Published

9 hours ago

April 19, 2024

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The army has released Clement Ikolo, a traditional ruler in Delta state, who was arrested over the murder of 17 officers in Okuama community.

Ikolo was released on Friday during a briefing by Onyema Nwachukwu, director, army public relations, at the Army Headquarters in Abuja.

The army personnel were killed on March 14 during a peacekeeping operation in the community.

The Defence Headquarters had declared Ikolo among eight persons wanted in connection to the murder.

The monarch subsequently turned himself in after releasing a statement to plead his innocence.

Ikolo said taking lives is against his philosophy and faith as a Catholic, and urged the army to look elsewhere for the culprits.

The monarch was released to Ede Dafinone, senator representing Delta central, who stood as surety.

Nwachukwu said Ikolo’s release did not amount to exoneration but was only facilitated after the senator testified to his character.

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Others declared wanted over the murder are Ekpekpo Arthur, a professor of physics at the Delta State University; Akeywiru Omotegbono, Andaowei Bakrikri, Igoli Ebi, a lady; Akata David, Sinclear Oliki, and Reuben Baru.

After the killing of the officers, President Bola Tinubu and the military high command promised that the perpetrators would be brought to justice.