News

Tinubu Applauds Dangote as Diesel Price Dips to N1,000 per Litre

Published

10 months ago

April 17, 2024

President Bola Tinubu has praised Dangote Oil and Gas Limited for slashing the price of diesel, a move expected to impact industries and transportation costs positively.

In a statement by his media aide, Ajuri Ngelale, Tinubu emphasized the significance of the diesel price reduction, foreseeing a ripple effect on the nation’s economy.

Dangote recently announced a significant reduction in the price of Automotive Gas Oil (diesel) from N1,650 to N1,000 per litre for bulk purchases, with additional discounts for larger volumes.

The reduction, amounting to a 60% drop, is poised to alleviate the burden of high transportation costs and contribute to stabilizing prices across various sectors.

Acknowledging the partnership between the federal government and Dangote Refinery, in which the government holds a 20% stake, Tinubu emphasized the importance of such collaborations in advancing national prosperity.

He urged Nigerians and businesses to prioritize national interests, assuring them of a conducive environment for growth and development.

News

Reps Approve ₦54.99tn 2025 Budget

Published

58 minutes ago

February 13, 2025

Samson Adeyanju

By Ifeoluwa Odunayo

The House of Representatives has approved Nigeria’s ₦54.99 trillion 2025 budget, marking a pivotal step in addressing economic challenges and public services.

The revised budget, up from the initial ₦49.7 trillion proposal, includes ₦3.645 trillion for statutory transfers, ₦14.317 trillion for debt servicing, ₦13.64 trillion for recurrent expenses, and ₦23.963 trillion for capital projects.

Lawmakers expect the increased spending to stimulate economic recovery, stabilize key sectors, and reduce borrowing reliance.

News

Nigeria Moves to Repatriate 400,000 Refugees from Chad, Niger, Cameroon

Published

3 hours ago

February 13, 2025

Samson Adeyanju

By Nike Lawal

The Nigerian federal government has revealed that over 400,000 Nigerian refugees remain in Chad, Niger, and Cameroon, with efforts underway to facilitate their safe return.

Speaking at a Technical Working Group meeting in Abuja, Tijani Ahmed, Federal Commissioner of NCFRMI, stressed the need to assess past repatriation efforts and strengthen partnerships for a smoother process.

A tripartite agreement between Nigeria, Chad, and UNHCR has already enabled the return of 3,000 refugees, with more repatriations planned, especially from Cameroon.

UNHCR Deputy Representative Bernadette Muteshi reaffirmed the agency’s commitment to supporting Nigeria’s leadership in ensuring a safe and sustainable return for displaced citizens.

News

FG Orders Strict Compliance with Treasury Single Account Policy

Published

3 hours ago

February 13, 2025

Samson Adeyanju

By Adenike Lawal

The federal government has directed Federal Pay Officers (FPOs) nationwide to enforce strict adherence to the Treasury Single Account (TSA) policy by all Ministries, Departments, and Agencies (MDAs) at the state level.

During a visit to the Federal Pay Office in Benin, Accountant General of the Federation (AGF), Dr. Oluwatoyin Madein, warned that MDAs must not bypass TSA rules or maintain unauthorized accounts with commercial banks. Any exceptions require presidential approval through the AGF.

She urged FPOs to uphold transparency, professionalism, and ethical standards in managing federal funds, adding that routine inspections will ensure compliance.

Dr. Madein also acknowledged operational challenges and announced plans to build new office structures to improve working conditions for FPO staff.