Author: straightnewsng.com

Knocks and kudos have trailed the $3 billion loan facility obtained by the Nigerian National Petroleum Company Limited (NNPCL) from Afreximbank. The NNPC Ltd. and Afreximbank Wednesday jointly signed a commitment letter and Termsheet for an emergency $3 billion crude oil repayment loan. The signing, which took place at the bank’s headquarters in Cairo, Egypt, will provide some immediate disbursement that will enable the NNPC Ltd. to support the Federal Government in its ongoing fiscal and monetary policy reforms aimed at stabilising the exchange rate market. Also read:  Reps probe alleged N20 billion diversion by NNPCL officials In an explainer…

The Defence Headquarters (DHQ) announced on Thursday that 36 military officers were killed in Niger State. Director Defence Media Operations, Major General Edward Buba, confirmed the casualties  when he gave a breakdown of the ambush of troops in Niger State and an evacuation helicopter that crashed on August 14, 2023. Terrorists had claimed responsibility to shooting a Nigerian Air Force MI-171 Helicopter on a casualty evacuation mission that crashed at Badna, Chukuba ward of Shiroro Local Government Area of Niger State on Monday. The breakdown was given at the biweekly briefing of the Defence Media Operations. When asked about the…

President Bola Tinubu has assigned portfolios to his 46 ministers, a week after they were screened and approved by the Nigerian Senate. However, Minister of Petroleum and another to supervise the Ministry Niger Delta Affairs were absent. It is rumoured that President Tinubu may superintend over the affairs of Ministry of Petroleum as his predecessor, Muhammadu Buhari did in eight years. The ministers are as follows: 1. Minister of Communications, Innovation and Digital Economy – Bosun Tijani, 2. Minister of State, Environment and Ecological Management – Ishak Salako 3. Minister of Finance and Coordinating Minister of the Economy – Wale…

England, the current holder of European championship cup will lock horns with Spain at the final of this year’s  FIFA Women’s World Cup in Australia. To reach the final, England beat Australia 3-1 on Wednesday while Spain eliminated Sweden 2-1 on Tuesday in their explosive soccer encounter. Lauren Hemp and Alessia Russo did the damage late on in Sydney as England shattered Australian dreams Wednesday with a clinical 3-1 win to set up a Women’s World Cup final against Spain. The Lionesses had stumbled at the same stage twice before but the European champions made no mistake this time to…

Nigeria’s Senate President, Godswill Akpabio, has advocated behavioural change as a major tool to tackling the menace of corruption and failing social values in the country. Speaking at the National Policy Dialogue on Corruption, Social Norms and Behavioural Change in Nigeria, organised by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) in Abuja on Tuesday, Akpabio described fighting corruption as a complex and multifaceted challenge. Akpabio, who was represented by Dr. Saviour Enyiekere, Deputy Chief of Staff to the Senate President, stated ‘‘of particular interest to me, is the issue of behavioural change as a precursor to winning…

After nationwide protest, Kenya has reinstated a small subsidy to stabilise retail fuel prices for the next 30 days in the country. The development comes following public anger over the high cost of living. Al Jazeera reports that the the Energy and Petroleum Regulatory Authority (EPRA), Kenya’s energy regulator, said oil marketing companies will be compensated from the Petroleum Development Fund. According to the regulator, the maximum retail price of a litre of petrol would remain constant at 194.68 shillings ($1.35) for the next month, shielding consumers from an increase of 7.33 shillings ($0.05). “In order to cushion consumers from…

Nigeria’s headline inflation rate increased to 24.08 per cent in July 2023, according to the National Bureau of Statistics (NBS). The NBS stated this in its Consumer Price Index (CPI) and Inflation Report for July released in Abuja on Tuesday. According to the report, the figure is 1.29 per cent points higher compared to the 22.79 per cent recorded in June. Also read:  Nigeria’s public debt stands at N46.25 trillion – NBS It said on a year-on-year basis, the headline inflation rate in July was 4.44 per cent higher than the rate recorded in July 2022 at 19.64 per cent.…

The ambition of Prof. Eno Ibanga to mount the throne as the political leader of Mkpat Enin has met a groundswell of oppositions of the Peoples Democratic Party, elders and stakeholders in the area. Ibanga who is the state Commissioner for Works and Fire Service under Udom Emmanuel administration is also serving in the same position under Governor Umo Eno administration. The decision was contained in a communiqué issued at the end of a meeting held at Dr. Ekong Sampson Unity Hall, Mkpat Enin Local Government Secretariat on Saturday, 12 August and attended by the elders, stakeholders, party chieftains, traditional…

The Nigeria Labour Congress (NLC) says its members will commence a nationwide strike without any formal notice if the Federal Government approves another increase in the pump price of petrol without conclusion of ongoing negotiations. The NLC President, Comrade Joe Ajaero, said this at the ongoing African Alliance of Trade Unions meeting in Abuja Monday. Already, the Premium Motor Spirit price is N617 per litre though Independent Petroleum Marketers Association of Nigeria (IPMAN) has alerted that the price may go up to N720 per litre following scarcity of dollar for imports. Also read: Nationwide strike: NLC Dares FG, Demands Reversal…

Five passengers died while the driver survived in an auto crash at Abatete in Idemili North Local Government Area of Anambra State. The crash which involved a commercial Toyota Sienna bus with registration number NZM-814ZL, reportedly occurred Saturday night. Eyewitness said the accident left some of the victims trapped inside and under the vehicle while bodies were littered on the ground before they were later rescued and evacuated. Also read:  Auto crash: Two persons die, one injured in Akwa Ibom “The driver was on top speed when he suddenly lost control, crashed into a dish and somersaulted severally. Just imagine…