Month: November 2020

Nigeria’s Varsity Lecturers in Crucial Meeting to review 8-month Strike

ADEOLA YUSUF

  The Members of the National Executive Council (NEC), of the Academic Staff Union of Universities (ASUU), are currently in a meeting at the University of Lagos, to discuss vividly on whether or not the strike should be suspended. There will be a meeting of all ASUU executives between Monday and Thursday, in all the government-owned universities across the country, to discuss their resolve before the general meeting on Friday. Details later.

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How Nigeria’s refineries made zero naira, spent N81.41b in eight months

ADEOLA YUSUF

  A total of N81.41 billion was expended on Nigeria’s refineries between January and August this year, but the facilities refined no drop of crude oil all through this period. The latest data obtained from the Nigerian National Petroleum Corporation, which showed this, gave details of how the refineries made zero naira but spent the N81.41 billion during the months under review. Kaduna Refining and Petrochemical Company, Port Harcourt Refining Company and Warri Refining and Petrochemical Company posted a cumulative revenue of N6.54 billion during the eight-month period. With a…

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Why Nigeria’s oil production hit 2.49m bopd, 15 year high, in April’

ADEOLA YUSUF

  More facts have emerged on the reasons Nigeria’s oil production hit 2.49 million barrels per day at the peak of COVID-19 in April, 2020. The last time the country’s output reached this level was 15 years ago. Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, who stated this in Abuja, noted that the commitment of the corporation to transparency and accountability made the high production possible. He declared optimism that the corporation will based on tbis commitment to tranparency and accountability, declare dividends in…

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US election: Court dismisses Trump lawsuit in Pennsylvania

ADEOLA YUSUF

  A Pennsylvania judge on Saturday threw out Donald Trump’s claims of widespread electoral fraud there, dealing a new blow to the Republican’s bid to overturn his loss in the US presidential election. The decision — announced in a scathing judgment which excoriated the Trump team’s legal strategy — paves the way for Pennsylvania to certify Democrat Joe Biden’s victory there, which is scheduled to take place Monday. With the clock ticking down to Biden’s January 20 inauguration, Trump’s team has focused on trying to stop battleground states from certifying…

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Kidnapped Chairman of APC, Nigeria’s ruling party, found dead

ADEOLA YUSUF

The kidnapped chairman of the ruling All Progressives Congress (APC) in Nasarawa State, Philip Shekwo, has been found dead. APC is also the ruling party in Nigeria. According to a report by Premium Times, a source close to the family confirmed this to a news platform, Sunday afternoon A leader of the APC in Nasarawa, who asked not to be named, also confirmed the death. The APC was yet to officially react to the kidnap at the time of this report. The chairman of Karu local government, Samuel Akala, also…

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CCTV: Blackout rocked Lekki Tollgate after soldiers arrived in seven trucks

ADEOLA YUSUF

  The Lagos State Judicial Panel of Judicial Inquiry probing the alleged killing of #EndSARS protesters by soldiers at the Lekki tollgate on the night of October 20 on Saturday resumed the viewing of a CCTV footage submitted by the Lekki Concession Company, operator of the tollgate. The footage showed that the scene was calm until about 6.43pm when people could be seen running towards the tollgate from the Oriental Hotel end. Two minutes later, at 6.45pm, vehicles, with flashing headlights, presumably military vehicles, arrived on the scene. There were…

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Nigeria suffers worst Recession in over 30 years

ADEOLA YUSUF

  . NBS says Nigeria’s GDP Contracts -3.62% Q3 as country witnesses two consecutive contractions   Nigeria, Africa’s biggest crude oil exporter, has officially slipped into its worst economic recession in over three decades. The country, which announced this, confirmed that it’s Gross Domestic Product (GDP) contracted by  -3.62 %  (year-on-year) in real terms in the third quarter of 2020. The National Bureau of Statistics (NBS) posted the figure on Saturday in its official website. With latest GDP figure contraction, Nigeria economy has posted consecutively two contractions. Thw recessio was anticipated as one of…

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Nigeria Varsity Lecturers Disown ‘viral letter’ Suspending 8-month Strike

ADEOLA YUSUF

The Academic Staff Union of Universities (ASUU) has disowned a letter announcing suspension of the eight month indefinite nationwide strike by the union. The letter, which has gone viral has the signature of ASUU President, Prof. Biodun Ogunyemi. Describing the letter as fake, Ogunyemi declared in an interview that it was only existing in the imagination of its originators. Ogunyemi, while reacting to the purported letter in an interview, expressed dismay how some people would write such a letter and forged his signature to confuse Nigerians. He said: “ASUU and…

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Trump Presses Effort To Overturn Election, Hosts Michigan Lawmakers

ADEOLA YUSUF

President Donald Trump will meet with the Republican leaders of the Michigan state legislature on Friday at the White House, as his campaign pursues an increasingly desperate bid to overturn the November 3 election amid a series of courtroom losses, CNN has reported. Meanwhile, President-elect Joe Biden is scheduled to meet with the Democratic leaders in Congress, House of Representatives Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer, after spending most of the week huddled with advisers as he plans his administration. The Trump campaign’s latest strategy, as described…

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Era of $30/bbl production cost gone, NNPC tells foreign, local oil firms

ADEOLA YUSUF

  The Nigerian National Petroleum Corporation (NNPC) has declared to Oil producers in the country that the era at which they are allowed to spend $30 to produce a barrel of crude oil no longer exist. NNPC has earlier begun aggresive action to get oil producers in the country to produce at $10 per barrel and the Group Managing Director of the Corporation, Mallam Mele Kyari, stated on Thursday that the COVID-19 hangover on Nigeria’s oil economy, which dipped oil price in the region of $30 – $40 per barrel,…

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