Month: May 2022

DisCos Fret As Banks Perfect Assets’ Takeover Over N860bn Debt

ADEOLA YUSUF

UBA, Polaris takeover of AEDC, IBEDC becomes popular template for discourse at lenders’ Boardroom Commercial banks in Nigeria are now perfecting plans to takeover electricity distribution companies in the country as N860 billion debts burden weigh down on lenders. Platforms Africa reports that the banks provided funds to the 11 electricity distribution companies for the acquisition of majority shares in government’s power utilities during the November 1, 2013 privatisation exercise. The owners of the 11 discos, according to the Bureau of Public Enterprises (BPE), had paid the Nigerian Government $1.26billion…

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Why Queues Resurfaced In Abuja – NNPC

ADEOLA YUSUF

Oil major Says No Cause for Alarm Over Fuel Queues, Flaunts 2.5 billion liters stocks The Nigerian National Petroleum Corporation has allayed the fears of  Abuja residents over the resurgence of long queues in Abuja and its environs,  attributing the situation to low loadouts and increased purchases that characterise post-holiday periods. The NNPC spokesman, Garba Deen Muhammad, in a statement on Monday, said the company had sufficient fuel supplies to satisfy the demands of Abuja residents for over six weeks. READ ALSO U.S Inflation Hits 40 Year-High As Fuel, Food…

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BREAKING: Ex-President Jonathan Gets APC N100m Nomination Form

ADEOLA YUSUF

Oil.minister, Timipre Sylva; Cross river governor Professor Ben Ayade also obtain form for N100m each Former President Goodluck Jonathan has picked the expression of interest and nomination forms to contest the 2023 presidential election on the platform of the All Progressives Congress. (APC). Platforms Africa reports that a northern group picked the forms on behalf of Jonathan at the International Conference Centre (ICC) in Abuja. Few hours before this, minister of State for Petroleum Resources, Timipre Sylva; and Cross river governor, Professor Ben Ayade, also obtained the form at N100…

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BREAKING: Court Declines Emefiele’s request to restrain INEC, AGF over presidential bid

ADEOLA YUSUF

Emefiele wants to remain CBN Governor while he runs for President A Federal High Court in Abuja has declined the request by Central Bank of Nigeria (CBN) Governor Godwin Emefiele to restrain the Independent National Electoral Commission (INEC) and the Attorney General of the Federation (AGF) from taking any steps against his interest pending the determination of his suit against them. Emefiele is, by the suit marked: FHC/ABJ/CS/610/2022 challenging the legality of Section 84(12) of the amended Electoral Act and to prevent its application to him in his aspiration to…

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Fuel Queues Resurface In Abuja As Scarcity Hits Capital City

ADEOLA YUSUF

Abuja, Nigeria’s administrative capital currently battling power outage since last Monday, is thrown into major energy crisis There are indications that the scarcity of Premium Motor Spirit (PMS), popularly known as petrol has returned after most filling stations in Abuja shut down. READ ALSO Airlines in Nigeria To Shut Down Thursday As Aviation Fuel Scarcity Worsens NUPENG Threatens Showdown With Marketers Over Fuel Price Hike We Need N2.557trn For Fuel Subsidy in 6 Months, Buhari writes Senate Platforms Africa reports that with this, Abuja, Nigeria’s administrative capital that is battling…

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BREAKING: ASUU Extends Strike By 3 Months, Shuts Varsities Till Aug

ADEOLA YUSUF

Nigerian Varsity students to now stay at home for five months The Academic Staff Union of Universities (ASUU) has extended its strike by 12 weeks. Platforms Africa reports that the National President of ASUU, Prof. Emmanuel Osodeke confirmed this on Monday morning. The academic body took the decision at an emergency National Executive Council (NEC) held at ASUU Secretariat in Abuja. The emergency meeting, which had in attendance principal officers and branch chairmen, started on Sunday and ended early Monday morning. Members of the union had embarked on a one-month…

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Not Again, Arik Air, Dana Air, Aero Dump Strike Plan

ADEOLA YUSUF

“We support the efforts by the AON to address the fuel price hike but our passengers would be served, our flight operations won’t stop.”   Three more airlines have joined Ibom Air on the list of airlines that have pulled out of the planned shutdown of flight services  as announced by the Airline Operators of Nigeria (AON). Platforms Africa reports that on Friday, the AON had announced its decision to suspend flight operations from Monday. Ibom Airlines Limited (Ibom Air), on Saturday, became the first airline to counter the AON’s proposed…

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478,650 Nigerian Passport Booklets Distributed in 4 Months – Ag. NIS CG

ADEOLA YUSUF

Isa Idris rolls out statistics as he reviews eight months of stewardship, saying online payment, appointment system yielding good results   The Acting Comptroller General of Immigration, Isa Jere Idris, has appealed to Nigerians to cooperate with the organisation in its bid to sanitise the system and improve service delivery, especially in the area of passport administration and issuance, which yielded the distribution of 478,650 Booklets between January and April, 2022. Platforms Africa reports that Mr Idris, in a message to journalists at the weekend, said that apart from reducing…

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BREAKING: Famous Nigerian Senator, Arthur Nzeribe, Dies At 83

ADEOLA YUSUF

His emergence as a Senator; his indefinite suspension from Senate over N22 million racket; his link with annulment of June 12, 1993 Presidential election results. Here is the tale of Triumph and Trials of the Orlu’s popular politician Nzeribe was declared dead at a foreign hospital following an undisclosed ailment. Nzeribe died at the age of 83 on Sunday morning. The former lawmaker died of an undisclosed ailment at a foreign hospital. “He died this morning in a hospital abroad. The family will soon release a statement,” a family source…

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Declare Abuja DisCo, TCN National Security Risk, Group Tasks Buhari

ADEOLA YUSUF

“Over five million customers, embassies, banks, MDAs languish in darkness for over 5 days with no definite answer from AEDC on end to the outage,” Nigeria Consumer Protection Network declares   The Nigeria Consumer Protection Network has appealed to President Muhammadu Buhari to declare the Transmission Company of Nigeria (TCN) and Abuja Electricity Distribution Company (AEDC) as national risk. Platforms Africa reports that President of the group, Kunle Olubiyo, said this in the day the blackout rocking Abuja, Nigeria’s administrative capital, hits day 5. The demand by the group for…

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