Nigeria’s net FX reserves surged to $23.11bn in 2024 – CBN
Nigeria’s Net Foreign Exchange Reserves rose significantly to $23.11bn at the end of 2024, marking the highest level in over three years, according to the Central Bank of Nigeria. In a press statement on Tuesday, the apex bank noted that this represents a significant jump from $3.99bn recorded at the end of 2023, $8.19bn in
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Nigeria’s Net Foreign Exchange Reserves rose significantly to $23.11bn at the end of 2024, marking the highest level in over three years, according to the Central Bank of Nigeria. In a press statement on Tuesday, the apex bank noted that this represents a significant jump from $3.99bn recorded at the end of 2023, $8.19bn in
UK pledges £20m to boost drone, ‘flying taxi’ services
The UK government said Tuesday it had pledged £20 million ($25.8 million) to help commercial drone services and “flying taxis” take off in Britain. The drone delivery market has landed in several countries, including the United States, allowing customers to have online shopping dropped at their doors by fleets of flying robots. There have been
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The UK government said Tuesday it had pledged £20 million ($25.8 million) to help commercial drone services and “flying taxis” take off in Britain. The drone delivery market has landed in several countries, including the United States, allowing customers to have online shopping dropped at their doors by fleets of flying robots. There have been
Why Nigerian Govt shouldn’t ban solar panel imports — CPPE
The Centre for the Promotion of Private Enterprise, CPPE, has said the Federal Government’s proposed ban on solar panel importation would worsen the energy crisis in Nigeria. The Chief Executive Officer of Centre, Dr. Muda Yusuf, disclosed this in a statement on Tuesday. His comment comes amid a proposal by the Minister of Science and
Why Nigerian Govt shouldn’t ban solar panel imports — CPPE
The Centre for the Promotion of Private Enterprise, CPPE, has said the Federal Government’s proposed ban on solar panel importation would worsen the energy crisis in Nigeria.
The Chief Executive Officer of Centre, Dr. Muda Yusuf, disclosed this in a statement on Tuesday.
His comment comes amid a proposal by the Minister of Science and Technology, Uche Nnaji, for a ban on the importation of solar panels to encourage its domestic production.
CPPE, an economic think tank group, kicked against the proposed ban on solar panel imports.
According to CPPE, the proposed ban would slow down the growth and adoption of solar energy solutions in Nigeria.
“The CPPE wishes to advise strongly against this policy proposition for the following reasons:
“Currently, Nigeria has one of the worst energy accesses, with a per capita electricity consumption of about 160 kWh, far below the sub-Saharan average of 350 kWh. The adoption of solar energy solutions is one of the most impactful government initiatives to tackle this problem, and it has gained remarkable traction.
“A ban on the importation of solar panels in the face of glaringly inadequate domestic production capacity would worsen the country’s energy crisis.
“It is a complete negation of the government policy to deepen and promote the adoption of renewable energy solutions by households, small businesses, rural communities, government institutions, and other corporate organisations. This adoption of solar solutions has gained impressive momentum in the last two years, especially in light of the soaring energy costs in the economy.
“It would worsen the problem of energy access as it would make the cost of solar energy solutions prohibitive, putting it beyond the average Nigerian.
“The welfare cost of a ban on the importation of solar panels would be incredibly high as a result of the escalation in the cost of acquiring solar solutions. It is bad enough that the current cost of acquisition of solar energy solutions is quite exorbitant. What is desirable at this time is to seek ways to drive affordability, rather than escalate costs.
“The CPPE shares the Minister’s vision of domestic production of solar panels, which is good for self-reliance and conservation of foreign exchange. But the transition process should be very painstaking, diligent, and gradual. A recourse to a hasty decision of banning the importation of solar panels would be very disruptive and counterproductive. It is important to ensure adequate local capacity to fill the supply-demand gaps,” CPPE stated.
DAILY POST recalls that last month, Nnaji had, during an event in Abuja, disclosed the need to phase out solar panel imports to boost local manufacturing.
Why Nigerian Govt shouldn’t ban solar panel imports — CPPE
NSCDC nabs Osun teacher molesting pupil, man for defiling minor
Osun State Command of the Nigeria Security and Civil Defence Corps, on Tuesday, said a 22-year-old male school teacher, Rufai Akorede, has been arrested for allegedly molesting a seven-year-old female pupil (name withheld) in Ilesa. The suspect was accused of thrusting his manhood into the mouth of the victim in a classroom, after school hours.
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Osun State Command of the Nigeria Security and Civil Defence Corps, on Tuesday, said a 22-year-old male school teacher, Rufai Akorede, has been arrested for allegedly molesting a seven-year-old female pupil (name withheld) in Ilesa. The suspect was accused of thrusting his manhood into the mouth of the victim in a classroom, after school hours.
Natasha defies ban, gets heroic welcome in Kogi
Senator Natasha Akpoti-Uduaghan received a rousing welcome from supporters in Kogi State on Tuesday, despite a government ban on rallies and processions. Supporters from Kogi Central’s five local government areas gathered early in Ihima, Okehi LGA, to welcome the embattled PDP lawmaker. Amid music and celebration, she arrived dramatically in a white helicopter, sparking cheers.
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Senator Natasha Akpoti-Uduaghan received a rousing welcome from supporters in Kogi State on Tuesday, despite a government ban on rallies and processions. Supporters from Kogi Central’s five local government areas gathered early in Ihima, Okehi LGA, to welcome the embattled PDP lawmaker. Amid music and celebration, she arrived dramatically in a white helicopter, sparking cheers.
Gov Nwifuru arrests 6 commissioners, LG chairman over alleged breach of contract terms
Ebonyi State governor, Francis Nwifuru has arrested six commissioners over alleged involvement in breach of a contract for the construction of 140 housing units for Izzo and Amaze communities. The arrested commissioners are Professor Omari Omaka (Tertiary Education), Victor Chukwu (Environment), Ifeanyi Ogbuewu (Culture and Tourism), Uchenna Igwe (Commissioner for Local Government and Chieftaincy Matters),
Gov Nwifuru arrests 6 commissioners, LG chairman over alleged breach of contract terms
Ebonyi State governor, Francis Nwifuru has arrested six commissioners over alleged involvement in breach of a contract for the construction of 140 housing units for Izzo and Amaze communities.
The arrested commissioners are Professor Omari Omaka (Tertiary Education), Victor Chukwu (Environment), Ifeanyi Ogbuewu (Culture and Tourism), Uchenna Igwe (Commissioner for Local Government and Chieftaincy Matters), Moses Ekuma (Health) and Felix Igboke (Project Monitoring).
The Chairman of Afikpo Local Government Area, Mr Timothy Nwachi, was also suspended.
It was gathered that the affected commissioners before their arrest, were declared wanted by the state government.
The governor, who spoke to newsmen in Abakaliki through the Chairman of the State Executive Council Committee on Izzo and Amaze Housing Project, Ilang Donatus, said the government felt that the affected commissioners and contractors have breached the terms and conditions of the contract given to them by the government.
DAILY POST gathered that the affected commissioners and the contractors were accused of sabotaging the plan of the governor, Francis Nwifuru, to commission the housing units to mark his two years anniversary in the state.
“The governor is not happy over the pace of the work which ought to have been completed. The government has decided to clamp down on the contractors and commissioners who were mandated to supervise those projects.
“As you can see, our governor is a man with a passionate heart, he likes giving succour, hence the building of those houses for the victims of the communal crisis.
“He is not happy that the project is delayed and has ordered the arrest of all the commissioners who were supposed to ensure the speedy completion of the housing units,” Donatus said.
The Special Assistant to the Governor on Women Mobilisation, Ebonyi Central, Mrs Maria Okohu who is member of the Executive Council Committee, said that non-completion of the projects by the contractors and the failure of some of the commissioners to strictly supervise them as directed by the government is an act of sabotage.
The governor, through the vommittee, insisted that the arrests will continue until all the commissioners and contractors involved are brought to book and as well do the needful.
It was gathered that the Nigeria Police has equally issued invitation letters to some of the fleeing commissioners and contractors who where not at home at the time the committee visited.
Gov Nwifuru arrests 6 commissioners, LG chairman over alleged breach of contract terms
Makinde visits Oyo market, vows to prevent future fire outbreaks
Oyo State governor, ‘Seyi Makinde, has declared that his administration will restructure the Alesinloye Market, Ibadan, to avert a recurrence of the fire incident that destroyed goods worth millions of Naira in March. The governor also said that the state government has provided some sort of palliatives to victims of the fire incident. The governor
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Oyo State governor, ‘Seyi Makinde, has declared that his administration will restructure the Alesinloye Market, Ibadan, to avert a recurrence of the fire incident that destroyed goods worth millions of Naira in March. The governor also said that the state government has provided some sort of palliatives to victims of the fire incident. The governor
Rivers pastor arrested for alleged homosexuality, charged to court
The Rivers State Police Command has arrested a cleric, identified as Elijah, over alleged homosexuality. Elijah, the General Overseer of a new-generation church in Port Harcourt, was reportedly apprehended after a leaked video surfaced showing him in a compromising situation. Sources told PUNCH Metro that the pastor’s troubles began when a male acquaintance, whom he
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The Rivers State Police Command has arrested a cleric, identified as Elijah, over alleged homosexuality. Elijah, the General Overseer of a new-generation church in Port Harcourt, was reportedly apprehended after a leaked video surfaced showing him in a compromising situation. Sources told PUNCH Metro that the pastor’s troubles began when a male acquaintance, whom he
Benue residents protest rising insecurity
Residents of Otukpo and nearby areas in Benue State took to the streets on Tuesday, blocking the Otukpo-Enugu Federal Highway in protest against increasing insecurity in the local government area. The demonstrators chanted, “We no go gree! We no go gree!” as they demanded urgent action from the government and security agencies to tackle the
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Residents of Otukpo and nearby areas in Benue State took to the streets on Tuesday, blocking the Otukpo-Enugu Federal Highway in protest against increasing insecurity in the local government area. The demonstrators chanted, “We no go gree! We no go gree!” as they demanded urgent action from the government and security agencies to tackle the
Leaked copies of Edo Tribunal judgement surface online, affirms Okpebholo
Confusion erupted as leaked copies of a yet-to-be-read judgement of the Edo State Governorship tribunal have flooded the internet barely hours before judgement day. According to the judgement document making the rounds on the internet, the lead judgement dismissed the petition and affirmed the election of Governor Monday Okpebholo. Recall that the Justice Wilfred Kpochi-led
Leaked copies of Edo Tribunal judgement surface online, affirms Okpebholo
Confusion erupted as leaked copies of a yet-to-be-read judgement of the Edo State Governorship tribunal have flooded the internet barely hours before judgement day.
According to the judgement document making the rounds on the internet, the lead judgement dismissed the petition and affirmed the election of Governor Monday Okpebholo.
Recall that the Justice Wilfred Kpochi-led three-member tribunal had, on March 3, reserved its judgement on the case the Peoples Democratic Party, PDP, and its candidate, Mr. Asue Ighodalo, filed to challenge the outcome of the governorship poll that was held in the state on September 21, 2024.
The panel had, in the early hours of Tuesday, directed the parties to appear before it on Wednesday, 2 April 2025, for the judgement.
In what appeared as a leakage, copies of the judgement made their way into the internet, indicating a two-to-one split in the decision of the tribunal.
The leaked document showed that the chairman of the tribunal, Justice Kpochi, and member 1 of the tribunal, Justice A. B. Yusuf, dismissed the petition and affirmed the election of Governor Monday Okpebholo, while the third member of the panel, Justice A. A. Adewole, ordered the Independent National Electoral Commission, INEC, to issue a fresh Certificate of Return to Ighodalo of the PDP as the authentic winner of the poll.
According to the minority judgement, Justice Adewole held that Governor Okpebholo’s election was invalid by reason of non-substantial compliance with provisions of the Electoral Act.
He held that the 2nd Respondent, Governor Okpebholo, was not duly elected by a majority of lawful votes cast and proceeded to nullify his return as the winner of the gubernatorial contest.
The petitioner’s case was not rebutted and showed, unit by unit, how the actual total should be 243,113 votes, while the 2nd respondent’s tally should stand at 210,326 votes — a clear reversal of the declared result,” Justice Adewole was credited with having held in the leaked documents.
However, in the lead and majority decision of the tribunal, its chairman, Justice Kpochi, held that “while there was credible evidence of non-compliance, particularly concerning section 73(2) (failure to record serial numbers in EC 25B) and section 51(2) (over-voting), the petitioners failed to demonstrate that these breaches substantially affected the outcome of the election as required under section 135(1) of the Electoral Act”
On the issue of the majority of lawful votes, the petitioners established instances of incorrect collation and exclusion of results. However, their mathematical and documentary evidence did not conclusively establish that the margin of lead was overtaken or that they scored the highest number of lawful votes.
The majority judgement relied on the strength of the Supreme Court’s decided cases in Oyetola vs. Adeleke, 2023, 10 NWLR (Pt 1892), as well as Atiku vs. INEC (2023), 19 NWLR, pt. 1927. The panel held that the petitioners failed to prove not only that non-compliance occurred but also that it was substantial enough to have affected the result of the election.
“We find that the petitioners have not discharged the dual burden to the satisfaction of the law.
“Accordingly, the petition lacks merit and is hereby dismissed,” the document further read.
Meanwhile, DAILY POST was unable to confirm the originality of the leaked judgement document as of filing this report.
Recall that the Independent National Electoral Commission, INEC, had declared that Okpebholo of the APC secured a total of 291,667 votes to defeat his closest rival, Ighodalo of the PDP, who got a total of 247,655 votes.
Dissatisfied with the outcome of the poll, the PDP and its candidate, Ighodalo, approached the tribunal on October 11, 2024, alleging that it was not conducted with substantial compliance with provisions of the Electoral Act, 2022.
Leaked copies of Edo Tribunal judgement surface online, affirms Okpebholo