Minister of Power, Mr Adebayo Adelabu, says introduction of Band A with a higher tariff has reduced electricity subsidy to N1 trillion from approximately N3 trillion. Adelabu, who spoke at a public hearing on electricity tariffs organised by the House of Representatives Joint Committee on Power, Commerce, National Planning, and Delegated Legislation in Abuja on Tuesday, noted the financial constraints confronting the Federal Government. He explained that without an increase in electricity tariffs, the subsidy would have surged to nearly N3 trillion, an amount government can’t afford. To prevent accumulating further debt, the ministry implemented a model where customers in…
Author: Daily News Hub
President Bola Tinubu is scheduled to address the nation in a broadcast on the occasion of Democracy Day at 7 am on Wednesday. Special Adviser to the President on Media and Publicity, Ajuri Ngelale, disclosed this in a statement issued on Tuesday in Abuja. According to the statement, “Television, radio, and other electronic media outlets are enjoined to plug into the network services of the Nigerian Television Authority and the Federal Radio Corporation of Nigeria (FRCN) for the broadcast.” Earlier, Federal Government had declared Wednesday, June 12, 2024, as a public holiday to mark this year’s Democracy Day. Minister of…
Former President Goodluck Jonathan says handing over to Nigerian children a democracy built on politics of region or religion poses serious threat to the continued corporate existence of the country. Jonathan stated this, on Tuesday, while speaking as the chairman of the national symposium marking this year’s Democracy Day at the Presidential Villa, Abuja. He condemned the winners-take-all attitude in the nation’s politics. The former president argued that this practice, which excludes other parties regardless of their performance in the polls, undermines political justice and the goal of fostering national unity. Jonathan called on the National Assembly to develop a…
Civilian staff of the Ministry of Defence, on Tuesday, staged a demonstration in protest against alleged brutalisation of their colleagues by military personnel. The protesting workers, who blocked entry and exit to the complex, accused military personnel of brutalising their colleagues without regard for civil laws. Chairman of the Joint Executive Council, the umbrella body of affiliate unions of civilian staff in the ministry, Didam Joel, while addressing newsmen, warned that the civilian staff of the Ministry had become endangered species. Joel, who recalled incidents against the civilian staff, alleged that an assistant director was brutalised on Monday in Lagos,…
Diageo, the foreign majority shareholder in Guinness Nigeria Plc, has agreed to sell its controlling equity stake of 58.02 per cent to Tolaram, a Singaporean multinational. Under the terms of an agreement signed on Tuesday, Tolaram will acquire Diageo’s 58.02 per cent shareholding in Guinness Nigeria and enter into long-term license and royalty agreements for the continued production of the Guinness brand and its locally manufactured Diageo ready-to-drink and mainstream spiritsbrands. By acquiring 58.02 per cent, Tolaram will also undertake a mandatory tender offer to seek to acquire shares held by minority shareholders, in a transaction that could increase the…
Samuel Adesola, Abuja Senate, on Tuesday, passed the N1.911 trillion Niger Delta Development Commission budget for2024 with Senate President Godswill Akpabio inundated with complaints by Senators who contributed to the debate on the motion. Chairman of the Committee, Senator Ekpenyong Asuquo, representing Cross River South Senatorial District, submitted its report less than 12 hours after the public hearing on the budget, where the NDDC Managing Director, Dr Samuel Ogbuku, appeared for the defence of the budget. Senator Solomon Adeola Olamilekan, representing Ogun West Senatorial District, was the first to pick holes in the report. He queried how the budget performance…
The President of Malawi, Lazarus Chakwera on Tuesday confirmed the death of his Vice, Saulos Chilima. Chakwera said his deputy was killed alongside nine other passengers in a plane crash. Addressing a press conference, the President said the aircraft carrying his deputy went missing after it failed to land at the Mzuzu International Airport, about 380 km (240 miles) to the north of the capital Lilongwe, adding that the plane’s wreckage has been located. “The search and rescue operation I ordered to find the missing plane that carried our vice president and nine others has been completed. “The plane has…
Cross River Coordinator of the international human rights organization, Amnesty International, Gabriel Aniabi, says AI remains independent of any government, political ideology and economic interests. Aniabi stated this during the inauguration of a Human Rights Clinic at the University of Calabar, stressing that the organization is neither anti-government nor being sponsored by anyone. He noted that AI is for everyone and had in the past saved some great Nigerians, including former President Olusegun Obasanjo, Afrobeat musician, Fela Ransome-Kuti and journalist, Agba Jalingo, among others. Aniabi further stated that Amnesty International became handy when people needed somebody to speak for them…
Military aircraft conveying Malawi’s Vice President, Saulos Chilima, which went missing on Monday, have been located. On Monday morning, the military plane carrying the VP and nine others, including the former First Lady, Shanil Dzimbiri, failed to make a landing. The VP and the nine others were to attend the funeral of a prominent Malawian lawyer, former Attorney General and Justice Minister, Ralph Kasambala in Mzuzu. President Lazarus Chakwera had ordered regional and national forces to conduct an immediate search and rescue operation to locate the whereabouts of the missing aircraft. It was learnt that the Dornier 228 military plane…
. Former CBN currency operations director tells court ‘features in ex-president’s design different from what Emefiele ordered printed’ Samuel Adesola, Abuja Former Central Bank of Nigeria Director of Currency Operations, Ahmed Umar, on Tuesday, revealed that the immediate past governor of the apex bank, Godwin Emefiele, printed his own design of the Naira. Umar made this revelation while giving evidence at the Federal Capital Territory High Court sitting in Maitama. According to the ex-CBN director of currency operations, the features in the design approved by former President Muhammadu Buhari was totally different from the one Emefiele eventually ordered to be…