Improve Nigeria’s Revenue Generation, Debt Reduction – IMF Tasks Tinubu

The International Monetary Fund has drawn the attention of the incoming President, Bola Ahmad Tinubu on the need to increase the country’s revenue base. This was revealed by the Resident Representative of, IMF Nigerian Office, Ari Aisen during the Virtual forum on the Nigerian debt situation. He also advised the incoming administration to do whatever they can to reduce dependence on debt to fund expenditures, hence, the fastest way to resolve the country’s debt issues is to give more attention to how to improve revenue and expenditure.

NiMET Warns 12 Northern State, FCT To Expect Thunderstorms, Floods

The Nigerian Meteorological Agency (NiMET) has issued warnings to residents of 12 northern states and the federal capital territory (FCT) of thunderstorms and heavy rainfalls in May 2023. The affected states are Borno, Taraba, Gombe, Bauchi, Adamawa, Yobe, Plateau, Nasarawa, Kaduna, Jigawa, Kano, and Katsina. The agency cautioned that the two-week rainfall might lead to flash floods. NiMet’s Public Relations General Manager, Muntari Ibrahim in a statement issued on Friday said; “Thunderstorm cells are currently observed over Borno, Taraba, Gombe, Bauchi, and Kano states. These are expected to propagate westward to give squally thunderstorms to some cities, including Maiduguri, Gashua, Katsina, Kaduna, and Kano…”

I Deliberately Closed Borders To Make Nigerians Productive – President Buhari

President Muhammadu Buhari has explained that he approved the closure of Nigeria borders with its neighbours in 2019 to prevent Nigerian rice smugglers and their collaborators in other countries including Niger from making Nigeria a dumping ground for smuggled rice. “So, closing that border of 1,600km, more than. Nigerians insist that they have to impress their neighbours and other people that they eat foreign rice. I said no rice. Rather, you eat what you grow and grow what you eat or you die,” the president said yesterday. He stated this on Tuesday at the inauguration of a new Customs Headquarters, built at the cost of N19.6 billion, in Abuja.

President Buhari Seeks Approval Of $800m Palliative Loan

President Muhammadu Buhari, has on Wednesday wrote to the Senate, asking the honorable house to approve a new loan request of $800million. The President of the Senate, Ahmad Lawan, read out Buhari’s request to lawmakers on the floor of the Senate. The President partly wrote, “Please note that the Federal Executive Council approved an additional loan facility to the tune of $800m to be secured from the World Bank, for the National Social Safety Net Programme and the need to request for your consideration and approval to ensure early implementation.

Seven African Presidents Accompany Buhari To Commission Dangote Refinery

President Muhammadu Buhari alongside his counterparts from Ghana, Togo, Senegal, Niger, and Chad will be commissioning the Dangote Petroleum Refinery and Petrochemical being established by Africa's richest man, Aliko Dangote today, 22nd May 2023. The petroleum refinery with a capacity to process 650,000 barrels daily (bpd) is established on 2,635 hectares of land located in the Dangote Industries Free Zone in Ibeju-Lekki, Lagos, and will create employment for over 100,000 persons. The coming onstream of the gigantic project is expected to mark Nigeria’s exit from the league of oil-rich nations which are heavy importers of petroleum products.

Max Air Crash-lands, All 144 Passengers Crew Members Evacuated

An airplane crash-landed on Sunday afternoon at the Nnamdi Azikiwe International Airport in Abuja, causing panic. The aircraft, B737, with Aircraft Reg. No. 5N-MBD Max Air arriving from Yola, Adamawa Stat, conveying 144 passengers and six crew members lost its tyres after landing. The Aerodrome Rescue and Fire-fighting Service (ARFFS) operatives, who were already on ground at the airport swiftly put off the fire around the tyres before the passengers were disembarked right at the runway. The runway was temporarily closed while the aircraft was being towed.

FG Renames Aviation Ministry

The Federal Executive Council (FEC) on 17th May 2023 renamed the Ministry of Aviation as now Ministry of Aviation and Aerospace as disclosed by the Minister of Aviation, Hadi Sirika, after the FEC meeting presided by President Muhammadu Buhari. Sirika stated that aviation and aerospace were interwoven and Nigeria had to be proactive in setting its policies to align with future occurrences, also noting that the change became necessary because aviation is on the exclusive list. The minister said the council also approved the concession of the Nnamdi Azikiwe International Airport, Abuja, and the Aminu Kano International Airport in Kano, according to him the Nnamdi Azikiwe International Airport, Abuja, had been concessioned to a consortium of private operators for the sum of $700m; while that of Malam Aminu Kano International Airport, Kano was for $97.4m. He said the amount expected from the deal was almost the total amount of money spent by the government on remodeling the airports.

FG Launches International Gemstone Market, Warns Against Illegal Mining

The Federal Government (FG) has launched the country’s first International Gemstone Market in Ibadan, Oyo State, and also warned against illegal mining. Speaking during the inauguration ceremony, the Minister of Mines and Steel Development, Olamilekan Adegbite said, “Mining is governed by rules and laws. What is happening at Okeho, Oyo State, as referred to by the traditional ruler, is nothing but an act of illegality.

Diversify, Oil and Gas Going No Longer Dependable - Okonjo-Iweala

The Director-General of the World Trade Organisation (WTO), Dr Ngozi Okonjo-Iweala disclosed that oil and gas are no longer viable sources of revenue, and has urged stakeholders to diversify their revenue sources so as to double the growth rate and sustain higher growth until the upper middle-income status is attained.

FEC Approves National Blockchain Policy

The Federal Executive Council (FEC) approved the implementation of the National Blockchain Policy during the Council’s meeting on Wednesday in the Council Chamber, Presidential Villa, Abuja which was presided over by President Muhammadu Buhari. Speaking to State House journalists after the meeting, Isah Pantami, the Minister of Communications and Digital Economy said, “This policy was gotten through consultation with our stakeholders where 56 institutions and personalities were involved in the process of conceptualizing, developing and reviewing the policy.