Author: Samuel Akpenpuun

The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, has announced that there will be another oil licensing bid round in 2025. Komolafe made this statement on Wednesday at the 2024 Licensing Round Commercial Bid Conference in Lagos. This comes as the commission nears the end of the 2024 licensing round. According to him, the commission has decided to make licensing rounds an annual event to boost oil production. Komolafe said the 2025 round would focus on unexplored assets. “Ladies and gentlemen, while we are proud of our recent achievements as industry stakeholders, we must remain mindful…

Senate President Godswill Akpabio has asked President Bola Tinubu to caution “intransigent ministers” in his cabinet who won’t respond to invitations by the National Assembly. Akpabio said such ministers have no place in Tinubu’s cabinet because they are not democrats. The Senate President made this known on Wednesday when the President presented 2025 budget estimates of N47.9 tn before a joint session of the National Assembly. “Those who disregard invitation by the National Assembly are not democratic and therefore have no place in your government,” Akpabio told Tinubu before a full house of members of the Senate and the House…

Barring any last-minute changes, President Bola Tinubu is expected to arrive at the National Assembly Complex before noon with his entourage to present the 2025 budget proposal before a joint session of Parliament. On Monday, the Federal Executive Council approved the N47.96 trillion budget estimate for the 2025 fiscal year. As a result, security personnel from the Department of State Services, the Nigeria Police Force, Nigerian Security and Civil Defence Corps, Sergeant-At-Arms, and the Federal Road Safety Corps have restricted access to the complex, ensuring that only those with legitimate business related to the proposed budget presentation are permitted entry.…

Jaiz Bank has successfully listed the N10.04 billion proceeds from its private placement on the Nigerian Exchange Group (NGX), following regulatory approvals by the Central Bank of Nigeria (CBN), Securities and Exchange Commission (SEC). This places the bank among the few banks that have already met the new capital requirements of the CBN, ahead of the June 2026 deadline. The bank in a statement yesterday indicated that its financial position remained robust, with a well-structured, diversified, and resilient balance sheet. “Total assets currently stand at 1.06 trillion, while shareholders’ funds have reached 47.9 billion,” it said. Speaking on the successful…

Monies paid by the Federal Government as electricity subsidies increased to N199.64 billion in December 2024, according to data sourced from the Nigerian Electricity Regulatory Commission. According to the newly released report, ‘December 2024 Multi-Year Tariff Order,’ electricity subsidies rose by 2.76 per cent to N199.64 billion this month from N194.26 billion in November. NERC explained that the rise in the exchange rate, which it pegged at N1,687.45 to the dollar, the increase in inflation to 33.9 per cent, and changes in available generation capacity necessitated the minor review. The report showed that the Federal Government retained electricity tariffs across…

The Edo State chapter of the Peoples Democratic Party has condemned the suspension of the 18 local government chairmen and their deputies by the state House of Assembly over alleged insubordination on Tuesday. In a statement by the state Caretaker chairman, Tony Aziegbemi, the party said that the chairmen and their deputies were not allowed to defend themselves, describing the suspension as unconstitutional. The statement reads, “The Edo State chapter of the Peoples Democratic Party condemns in the strongest terms the illegal suspension of the Chairmen of the 18 Local Government Areas of Edo State by the Edo State House…

Manchester United’s Alejandro Garnacho won the Puskas Award on Tuesday, December 17, for his impressive overhead goal. He scored the remarkable goal against Everton in a Premier League match last season, which was also named Premier League Goal of the Season. The award was presented during the Best FIFA Awards, which took place at the Aspire Academy in Doha, Qatar. Despite his remarkable achievement, he and Marcus Rashford were excluded from the from the matchday squad for the Manchester derby last Sunday by coach Ruben Amorim due to concerns over their training performances. After receiving the prize, the player expressed,…

The Police Service Commission (PSC) has approved the promotion of 78 senior police officers, including 21 Assistant Commissioners of Police (ACPs) to Deputy Commissioners of Police (DCPs), and 57 Chief Superintendents of Police (CSPs) to ACPs. The promotions were approved during the second Plenary Meeting of the PSC, held on Tuesday, December 17, 2024. The meeting followed the approval on Monday, December 16, 2024, for the promotion of 11 Commissioners of Police to Assistant Inspectors General and 16 Deputy Commissioners to substantive Commissioners. Among the newly promoted Commissioners is former DCP Adamu Abdullahi Elleman, who served as the Deputy Commissioner…

The President of the Senate, Senator Godswill Akpabio, has criticised the media, stating that they thrive on bad news, emphasising that only negative stories are deemed newsworthy. According to Akpabio, while security agencies prevent numerous criminal activities, these successes are rarely reported, as only bad news makes headlines. Akpabio made these remarks during a debate on an urgent motion regarding the ongoing banditry and killings in Billiri Local Government Area of Gombe State, moved by Senator Anthony Siyako Yaro (PDP, Gombe South). In response to contributions from former Senate Deputy Leader, Senator Abdul Ningi (PDP, Bauchi Central), Akpabio stated, “When…

The Economic and Financial Crimes Commission has secured the conviction of 18 internet fraudsters in separate court proceedings held in Bauchi and Yola. Justices Aminu Garba and Aisha A. Ibrahim of the Federal High Courts 1 and 2 in Bauchi, and Justice Ahmed Isa of the Adamawa State High Court in Yola, handed down various jail terms to the convicts. The convicts, including Fumi Joshua, Nathan Timothy Aruku, Femi Johnson Adelowo, Chimieze Alajemba, Jeremiah Pam Samuel, Emmanuel Shadrach, Ibrahim Yusuf, Shikaan Martin’s, Mishack Daniel, Jerry Moses, Joseph Yagat Baye, Emmanuel Pontiff, Godiya Simon, Noble Max, Perfect Nuhu, Agbande A. Bature,…