Federal Government
Nigeria begins sale of N150 billion sovereign Sukuk at 11.2 percent
The Federal Government on Thursday began the sale of its third tranche 7-year N150 billion Sovereign Sukuk, the Debt Management Office (DMO) said. The offer circular, which was obtained from its website, said the seven year Islamic Sukuk, referred to as Ijarah, was at a rental rate of 11.2 per cent and would be due in June 2027. The bond, which was aimed at funding key road infrastructure across the six geo-political zones, was payable semi-annually. Subscription for the bond, guaranteed by the government, would close on June 2. The circular said subscribers could purchase N1,000 per unit subject to a minimum subscription of N10,000 and in multiples of N1,000 thereafter with First Bank and Islamic wealth manager, Lotus Capital managing the sale. The DMO said it qualified as securities in w...
PDP warns against plot to foist emergency rule in Rivers
File Photo The Peoples Democratic Party (PDP) has warned against the exposed plots by certain unpatriotic and disgruntled individuals, allegedly working for the All Progressives Congress (APC), to orchestrate a security situation and push for imposition of a state of emergency in Rivers State. The party said it has been informed of plots by such power hungry politicians to sponsor their misguided youth to unleash violence and unrest in certain parts of the state to create an impression of security breakdown so as to validate their plot for imposition of emergency rule in the state. The PDP said such anti-people elements include some individuals who were rejected by the people of Rivers state in the 2019 governorship election, as well as their godfathers, who believe they have the backing o...
Nigerian government approves N2 billion for building federal university medical school
The Federal Government has approved N2 billion for the establishment of a medical school at the Federal University, Dutsin-ma (FUDMA), Katsina State. The Vice Chancellor of the university, Prof. Amarya’u Bichi, disclosed this to newsmen shortly after assuming office. Bichi said that the building of the medical school had commenced and would be completed within four months. According to him, the university will admit candidates for medicine and other medical courses in 2021. He appealed to the federal government to provide additional funds for the institution to build its teaching hospital, where the students would do practical and internships. The vice chancellor said that plans were under way to establish Faculties of Engineering, Law and Agriculture in the institution. Bichi, who acted a...
Archbishop Martins tells Nigerian government to allow herbal remedies for coronavirus
YouTube Archbishop Alfred Adewale Martins of the Catholic Archdiocese of Lagos has appealed to the Federal Government to allow traditional medicine practitioners to use local herbs and roots as a cure for COVID-19. Martins made the appeal during a news conference held at the Holy Cross Cathedral hall in Lagos on Wednesday ahead of the commemoration of the forthcoming 54th World Communications Day. He said that traditional herbal medicines had their own healing effects, pleading with the government to give credence to their producers for them to use the products as a cure for the virus. Martins said, “Herbal medicine has its healing effect and I think it is important that the government gives local practitioners and researchers opportunities to research into the use of our local herbal root...
292 Nigerian nationals arrive Abuja from Saudi Arabia
The Federal Government on Tuesday received a batch of 292 stranded Nigerians from Saudi Arabia. According to Minister of Foreign Affairs, Mr. Geoffrey Onyeama, the evacuees with a large number of nursing mother and children were flown to Abuja. This is coming after the country successfully evacuated Nigerians from United Arab Emirates (265); United Kingdom (253) and the United States (160). The latest returnees bring to 970 the total number of stranded Nigerians who have been evacuated. Onyeama, via his verified Twitter account, stated that the returnees are doing well and have all settled down in hotels for the mandatory 14-day quarantine. “We received 292 evacuees stranded in Saudi Arabia yesterday. The Saudi Government transported them to Abuja. A large number are nursing mothers and ch...
Adamawa cuts 2020 budget by 24 per cent
The Adamawa State Executive Council has approved a downward review of the 2020 budget by 24 per cent, affecting only the capital expenditure and overhead costs. The Commissioner for Information and Strategy, Umar Pella, disclosed this shortly after an Extraordinary meeting of the council presided over by Governor Ahmadu Fintiri in Yola on Tuesday. The decision was reached after the council considered and approved a review of the 2020 Medium Term Expenditure Framework and Fiscal Strategy Paper in line with the extant laws of the Fiscal Responsibility Commission 2018. Newsmen report that the state House of Assembly in December 2019, approved the 2020 proposed budget estimate of N183.3 billion presented by the governor. Pella explained that the measure was taken by the council after a holisti...
TCN managing director sacked
The Federal Government has removed the Managing Director of the Transmission Company of Nigeria, Usman Gur Mohammed, from office. The Minister of Power, Mohammed Sale, approved of Mohammed’s sack on Tuesday. This was contained in a press statement by the Special Adviser on Media and Communications, Office of the Minister of Power, Aaron Artimas. Artimas also confirmed the authenticity of the statement and appointment of Sule Abdulaziz in acting capacity to newsmen on the telephone. The statement, titled ‘Reorganisastion/new appointment at the Transmission Company of Nigeria’, read, in part, “As part of continuing measures to reposition and improve the performance of the power sector in the country, the Honorable Minister of Power Engr. Sale Mamman hereby announces major changes at the Tran...
Four arrested in Abeokuta for riding bike from Minna
Operatives of the Nigerian Security and Civil Defence Corps (NSCDC) have arrested four Northern Youths who sneaked into the State from Niger State despite an inter-state travel ban by the Federal Government. Parading the youths in Abeokuta, the State Commandant of the Corps, Mr. Hammed Abodurin, said they were intercepted at Oke-Ilewo, Abeokuta at about 10:30 Tuesday for violating the State lockdown rules and for being in the public without using face masks and riding unregistered motorcycles. Abodurin said, “further interrogation showed that the youths who are from Niger State with their motorcycles. They claimed to have boarded a truck conveying foodstuff from Kotangora to Lagos, alighted at Ogere and continued the journey with their motorbikes to Abeokuta where they were arrested”. The ...
Senator Lawan: Why privatisation of power sector must be reviewed now
President of the Senate, Ahmad Lawan, has called for the immediate review of the privatization exercise of the power sector by previous administrations. Lawan gave the charge in his concluding remarks on a motion considered on the floor during plenary on Tuesday. The motion titled: “Power Sector Recovery Plan and the Impact of COVID-19 Pandemic” was sponsored by Senator Gabriel Suswam (PDP – Benue North East). The Senate President, who bemoaned what he described as the “inefficiency of Power Generating and Distribution companies” in the country, called for a review or eventual reversal of the terms of privatization. According to Lawan, parties involved in the shared purchase agreement with the federal government can only seek the intervention of the latter when sufficiently justified. “The...
House of Reps queries health minister on whereabouts of Chinese doctors
Lawmakers at the House of Representatives have questioned the Minister of Health, Dr Osagie Ehanire, demanding activities and whereabouts of the Chinese doctors. The lawmakers at their plenary on Tuesday said they are not satisfied with the statement of the Minister that the Chinese doctors are not guests of the Federal Ministry of Health but that of a Chinese firm in Abuja. The resolution of the House stems from a motion of urgent public importance raised by Representative Dachung Bagos. The House, in a separate motion, also resolved to investigate the status of medical and pharmaceutical research in the fight against COVID-19 in Nigeria. They expressed worry that Nigerian scientists and researchers have not been given the necessary support and funding for medical research. The Minister o...
House of Reps urges speedy production of local coronavirus vaccines in Nigeria
The House of Representatives has stressed the need for speedy production of local vaccines for the treatment of COVID-19 in Nigeria. The House also mandated its standing Committees on Healthcare Services, Health Institutions and Aids, Tuberculosis and Malaria to invite the Hon. Minister, Federal Ministry of Health, the Executive Director/CEO, National Primary Health Care Development Agency, the Director General, Nigeria Centre for Disease Control and the Executive Director, May and Baker Nigeria PLC to brief the Committees and deliberate on possible ways of getting the needed legislative support to fast track the production of vaccines in Nigeria and report back within four (4) weeks for further legislative action The resolutioms followed the adoption of a motion on notice, moved by Rep. J...
US coronavirus death toll exceeds 90,000 as Donald Trump urges reopening
The coronavirus death toll in the United States surpassed 90,000 on Monday as the total number of confirmed COVID-19 cases exceeded 1.5 million across the country, according to the Johns Hopkins University tally. The grim milestones came as President Donald Trump tweeted to “REOPEN OUR COUNTRY!” and the White House attempted to shift blame, including onto its own scientists, for the high number of deaths. On Sunday, members of Trump administration disagreed on whether the US Centers for Disease Control and Prevention (CDC) let the country down with testing efforts. “Early on in this crisis, the CDC, which really had the most trusted brand around the world in this space, really let the country down with the testing,” Peter Navarro, Trump’s trade adviser, told NBC’s Meet the Press programme....
