Wed, Nov

FG Launches Presidential Delivery Tracker, CDCU Website

The Federal Government (FG) has launched the Presidential Delivery Tracker (PDT) and the Central Delivery Coordinating Unit (CDCU) website to enable citizens to monitor the implementation of government projects nationwide. The Secretary to the Government of the Federation (SGF), Boss Mustapha unveiled the platforms on Tuesday in Abuja, stating that the platforms were created to track and report the implementation of policies, programmes and projects of Ministries, Departments and Agencies (MDAs) with the aim of achieving the 9 priority goals of President Muhammadu Buhari’s administration.

Osinbajo Departs Nigeria For US

Vice President Prof. Yemi Osinbajo in the early hours of 31st August 2022 jetted to the Unites State of America to seek global partnership and support for Nigeria's recently launched Energy Transition Plan. Osinbajo will be meeting his American counterpart, Kamala Harris.
The VP's spokesman, Laolu Akande noted that Osinbajo will also be meeting with Jennifer Granholm, the secretary of energy, Janet Yellen, secretary of the treasury, and David Malpass, president of World Bank Group. Recall that Nigeria's transition plan was officially launched in a virtual event last week, and is said to be needing at least $10 billion per annum above business as usual spending for effective implementation for the attainment of the homegrown, data-backed, and multi-pronged strategy development of the 2060 net zero emissions, its commitments will be on Power, Cooking Oil and Gas, Transport and Industry.

Emirate Airlines Suspends Flight To Nigeria

Emirates Airlines on Thursday declared the suspension of its flight operations in Nigeria from September 1, 2022. It stated that the suspension became necessary following its inability to repatriate its funds from Nigeria. In a statement by Emirates, it disclosed that it had tried every avenue to address its ongoing challenges in repatriating funds from Nigeria and has made considerable efforts to initiate dialogue with the relevant authorities for their urgent intervention to help find a viable solution and regrettably there had been no progress.

FG Establishes National Council On Infrastructure

The Federal Government (FG) has established the National Council on Infrastructure created to bridge the country’s infrastructure gaps while improving collaboration between the public and private sectors. This was made known by the Senior Special Assistant to the Vice President on Media and Publicity, Laolu Akande in a statement titled ‘Osinbajo notes progress in infrastructure, inaugurates new council with public-private collaboration’.

Blackout: Electricity Workers Suspends Strike, Restore Power

Following the meeting with the Minister of Labour and Employment, Dr Chris Ngige with the National Union of Electricity Employees (NUEE) and Senior Staff Association Electricity and Allied Companies (SSAEAC) on 17th August 2022 after shutting down power supply across states caused a blackout in the nation, the NUEE has thought it wise to suspend the nationwide strike for two weeks. The action of the NUEE was due to the promise the government had made to the union, promising to resolve the issue in no time. the secretary-general of the union Joe Ajaero has stated power will be restored but failure to meet their demands before the end of the suspension, the union will be forced to resume the strike.

APCON Changes Name, Bans Use Of Foreign Models, Others

The Advertising Practitioners Council of Nigeria (APCON) has announced that it has changed its name to the Advertising Regulatory Council of Nigeria (ARCON). The Council has also banned the use of foreign models and voice-over artists for advertisements in Nigeria in order to promote local content and talents.

Blackout: Ngige Calls For Emergency Meeting With Striking Electricity Workers

The Minister of Labour and Employment, Chris Ngige, on Wednesday evening, convened an emergency meeting with the National Union of Electricity Employees (NUEE), who had shut down services nationwide services at the kaduna Regional Headquarters of the Transmission Company of Nigeria (TCN) leading to total blackout. The minister invited the union with the aim of mediating and resolving their grievances. The TCN Kaduna Regional station covers four northwestern states, Kaduna, Kebbi, Sokoto, and Zamfara. The action of NUEE in collaboration with the Senior Staff Association Electricity and Allied Companies (SSAEAC), led to total blockout across states including Lagos, Ogun, Kano, Katsina, Jigawa, kaduna, kebbi, sokoto, Zamfara, Abuja and others. The impact of the strike began unfolding at 10 am Wednesday when the grid dropped from 4,149 Megawatts recorded at 6 am to 2,600MW. The grid capacity continued to drop as more workers at transmission stations downed tools.

Nigeria's Inflation Rate Rises To 16-Year High

Yearly inflation in Nigeria, Africa's largest economy, rose sharply in July on the back of soaring energy, transport, and food costs, associated with a fall in the value of the Naira currency. Rising food costs and Naira's weakness against the dollar push rate of price growth to 19.6%. According to the National Bureau of Statistics (NBS), July inflation rose for the sixth consecutive month this year to 19.6, up from 18.6 per cent in June and the highest level since September 2005. The latest rise means inflation is now double the Central Bank of Nigeria's target of 9 per cent and raises the prospect of another increase in interest rates next month. The statistics agency pointed to an increase in the price of gas and fuel, as well as air and road transport costs, along with food prices. Food inflation rose to 22 per cent caused by an increase in the cost of bread and cereals, as well as other food products such as potatoes, yam, meat, fish, oil, and fat.

eNaira Records N4billion In Transactions

The Central Bank of Nigeria’s digital currency, eNaira has recorded N4 billion worth of transactions and has amassed over 200,000 users with over 840,000 downloads since its launch last October. During the grand finale of the “eNaira Hackathon” in Abuja on Thursday, the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, made this disclosure.

Oil Prices Drop After Sudden Rise In US Crude Inventories

Oil prices edged lower on Wednesday after industry data showed US crude inventories suddenly rose last week, signaling a potential hitch in demand. U.S. Crude stocks rose by about 2.2 million barrels for the week ended August 5, according to market sources citing American Petroleum Institute figures. Analysts had predicted a small 400,000 barrel drop in crude inventories. Brent crude futures fell 73 cents, or 0.76%, to $95.58 a barrel by 0928 GMT. U.S. West Texas Intermediate crude futures were down 64 cents, or 0.71%, at $89.86.

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