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Edo Polls: Govt, APC in Conflict Over Protest Allegations

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David Abi
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Edo Polls: Govt, APC in Conflict Over Protest Allegations.

The political tension in Edo State escalated as the state government and the All Progressives Congress (APC) engaged in a heated dispute. The state government accused the APC of planning violent protests instead of focusing on their campaign for the September 21 governorship election, alleging that the party lacked a credible candidate.

Government’s Claims:

  • The Edo State government, led by Governor Godwin Obaseki, alleged that the APC, led by Senator Adams Oshiomhole, is resorting to violent tactics due to the weakness of their gubernatorial candidate, Senator Monday Okpebholo.
  • Chris Nehikhare, the Commissioner for Communication and Orientation, called on security agencies to monitor the APC for any signs of orchestrating civil unrest.
  • Nehikhare criticized Oshiomhole for making public statements instead of letting Okpebholo address the issues directly.

APC’s Response:

  • Orobosa Omo-Ojo, Director of Publicity for the APC’s campaign, accused the Obaseki administration of deceit and corruption. He claimed that the government’s focus on the #EndBadGovernance protest was a smokescreen for their alleged mishandling of resources.
  • Omo-Ojo criticized the Obaseki administration for alleged economic corruption, including claims about hidden palliatives and questionable borrowing.

Context:

  • The controversy highlights a deeper political rift, with both sides accusing each other of undermining democratic processes and governance. The APC’s campaign has been marked by accusations against the incumbent government, while the state government has criticized the APC’s campaign tactics and leadership.

Related News:

Kogi: 60 Directors Vie for 12 Permanent Secretary Positions

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David Abi
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Kogi: 60 Directors Vie for 12 Permanent Secretary Positions.

Kogi: 60 Directors Vie for 12 Permanent Secretary Positions.

No fewer than 60 senior directors have been shortlisted to compete for 12 Permanent Secretary positions in the Kogi State Civil Service. These directors are scheduled to take an examination, with the top performers expected to fill the vacancies.

Mr. Elijah Evinemi, the Kogi State Head of Civil Service, disclosed this information while addressing newsmen at the examination center in Lokoja on Wednesday. He emphasized that the examination process would be fair, transparent, and credible, ensuring that only the most qualified candidates are selected.

Evinemi noted that this initiative is part of Governor Usman Ododo’s efforts to promote quality service delivery and ensure credible Civil Service reform for optimal productivity. The selection process aims to elevate the standard of public service in the state by filling key positions with capable and competent individuals.

The directors competing for the Permanent Secretary positions come from the 12 Local Government Areas where the vacancies exist. To ensure a thorough and unbiased selection process, the Public Service Institute of Nigeria (PSIN) has been engaged to handle the examination and the preceding training sessions.

The exercise will include two days of lectures and training, designed to prepare the directors for the examination. Evinemi commended the PSIN management for organizing a well-structured training program, facilitated by highly experienced resource persons. This comprehensive approach aims to equip the directors with the necessary knowledge and skills to excel in their roles as Permanent Secretaries.

Evinemi reiterated the government’s commitment to civil service reform and quality service delivery, highlighting that this initiative is a significant step towards achieving these goals. The transparent and rigorous selection process underscores the administration’s dedication to fostering a competent and efficient civil service in Kogi State.

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CBN Sells $876.26m at N1,495 in Retail Auction

By
David Abi
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CBN Sells $876.26m at N1,495 in Retail Auction.

The Central Bank of Nigeria (CBN) sold $876.26 million to end users via 26 banks in a retail auction on Wednesday, aiming to support the naira. Total bids reached $1.18 billion, but $313.69 million in bids were disqualified for missing the cutoff time or incorrect submissions. The approved rate was N1495/$. Settlement is set for August 8, 2024. This sale aims to meet growing foreign exchange demand and ease pressure on the naira from seasonal and business-related dollar demand.

“Naira Crude Transactions Hampered by Dollar Fees”

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David Abi
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"Naira Crude Transactions Hampered by Dollar Fees"

“Naira Crude Transactions Hampered by Dollar Fees”

The Nigerian government’s push to sell crude oil in naira is facing significant challenges due to the industry’s dollar-denominated regulatory and royalty fees. Although Nigeria’s oil transactions are usually conducted in US dollars, the Federal Executive Council recently approved a proposal to sell crude to domestic refineries, including the Dangote refinery, in naira. This plan involves selling 450,000 barrels meant for domestic consumption in naira, with a fixed exchange rate for the transaction.

However, implementing this policy has proven difficult. Industry experts and government officials are struggling with the complexities, including existing contracts that require dollar payments for royalties, and statutory fees charged by the Nigerian Upstream Regulatory Services Commission (NUPRC) in dollars. These include fees for converting oil prospecting licenses to mining leases and for renewing leases, which range from thousands to millions of dollars.

Moreover, there is a lack of idle crude available for local refineries. The Petroleum Industry Act (PIA) introduces a tiered royalty system based on oil prices, further complicating the shift to naira payments. Experts argue that the government cannot force international oil companies (IOCs) to sell their crude in naira or to specific buyers. They emphasize the need for a regulatory framework to facilitate these transactions and call for centralizing revenue collection to reduce over-invoicing and improve ease of doing business.

The Crude Oil Refinery-Owners Association of Nigeria (CORAN) has confirmed that none of its members have started receiving crude in naira, citing the need for detailed guidelines and stakeholder consultations. The government has yet to address these regulatory and operational hurdles, making the transition to naira-based crude sales a complex and ongoing challenge.

Naira strengthens to 1596 as CBN sells record dollars

By
David Abi
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0
Naira strengthens to 1596 as CBN under Cardoso sells record dollars

Naira strengthens to 1596 as CBN under Cardoso sells record dollars

The naira strengthened to N1596 per US dollar in official trading as the Central Bank of Nigeria (CBN) sold $876.26 million in a retail auction, the largest under Governor Olayemi Cardoso. The CBN sold the dollars at a rate of N1495/$ to end users, providing a temporary boost to the naira. However, the parallel market saw the naira weaken to N1620/$ due to increased demand and disqualified bids moving to the black market.

The auction aimed to meet growing foreign exchange demand driven by summer tourism and import needs. Analysts predict the naira could further strengthen to about N1200/$ if the CBN sustains the retail auction system and manages forex inflows efficiently. The move is seen as essential to improving liquidity and stabilizing the naira amid ongoing economic challenges.

Nigeria’s oil output reaches 1.7mbpd due to crackdown

By
David Abi
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0

Navy chief: Nigeria’s oil output reaches 1.7mbpd due to crackdown on theft.

Nigeria’s oil output has risen to between 1.6 and 1.7 million barrels per day (bpd) due to intensified security measures targeting crude oil theft, according to Emmanuel Ikechukwu Ogalla, the Chief of Naval Staff. This increase marks a notable improvement from February when production was at 1.2 million bpd.

Ogalla highlighted that the Nigerian Navy has significantly boosted its efforts to protect oil production. The Navy currently has 12 vessels deployed for surveillance and enforcement, leading to the arrest of over 16 vessels involved in illegal activities. Additionally, the Navy has blocked channels used for the sale of illegally refined petroleum products.

In comparison, data from the Organization of Petroleum Exporting Countries (OPEC) show that Nigeria’s crude oil production peaked at 1.43 million bpd in January 2024, based on primary sources. However, secondary sources report an average of 1.362 million bpd for June 2024, down from 1.372 million bpd in May.

Nigeria’s oil minister, Heineken Lokpobiri, has suggested that with adequate investment, the country could potentially increase its production to 6 million bpd. He also noted that financial constraints are a significant barrier to further exploration and production in Nigeria and other African oil-producing countries.

$10 Billion Port Upgrades Launched Despite Cargo Drop

By
David Abi
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$10bn port investments come on stream amid cargo volume decline

$10 Billion Port Upgrades Launched Despite Cargo Drop.

State governments and private investors are injecting over $10 billion into new seaport projects in Nigeria, despite a decline in cargo volumes and ship traffic. Key projects include the $4.2 billion Ibom Deep Seaport and the $1.5 billion Ondo Port. However, existing ports like Rivers and Calabar are underused, and overall import volumes fell by 6.8% in 2023. Experts argue that the focus should be on revitalizing existing ports rather than investing in new ones, given the current economic and security challenges impacting port activities.

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NLNG Dividend Falls 43% as Gas Supply Issues Persist

By
David Abi
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0

NLNG Dividend Falls 43% as Gas Supply Issues Persist.

Nigeria’s revenue from Nigeria Liquefied Natural Gas (NLNG) has dropped 43% due to ongoing gas supply constraints. The federal government’s actual revenue from NLNG was N46.2 billion in 2023, significantly below the target of N81.79 billion. These constraints, coupled with issues in the fiscal framework for gas production and insufficient infrastructure, are hampering NLNG’s output and expansion plans. Despite progress on the $4.3 billion Train-7 project, which aims to boost LNG capacity, challenges persist regarding future gas supply and commercial pricing. Experts recommend improving gas infrastructure, securing gas delivery, and fostering investment to address these issues and support revenue growth.

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CBN’s N700bn Aid Leads to Unity-Providus Bank Merger

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David Abi
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CBN N700bn bailout aids Unity, Providus Bank merger

CBN’s N700bn Aid Leads to Unity-Providus Bank Merger

The Central Bank of Nigeria (CBN) has approved a N700 billion bailout to support the merger between Unity Bank and Providus Bank. This financial assistance is crucial for addressing Unity Bank’s obligations and ensuring the stability of the merged entity.

The CBN’s move aims to enhance the financial health of the banks and mitigate systemic risks. The merger will create a stronger institution with an extensive branch network and advanced digital capabilities. It is expected to boost customer service and operational efficiency. The merger follows ongoing discussions and interventions by the CBN to stabilize banks facing financial difficulties.

X faces pressure to curb Grok chatbot’s election.

By
David Abi
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0

X faces pressure to curb Grok chatbot’s election misinformation.

The controversy centers around X’s AI-powered chatbot, Grok, which has been accused of spreading false information about Vice President Kamala Harris’s eligibility for the 2024 U.S. presidential ballot. This misinformation was revealed in an open letter from five U.S. secretaries of state—Steve Simon of Minnesota, Al Schmidt of Pennsylvania, Steve Hobbs of Washington, Jocelyn Benson of Michigan, and Maggie Toulouse Oliver of New Mexico—addressed to Elon Musk, CEO of X (formerly Twitter), Tesla, and SpaceX.

The letter criticizes Grok for incorrectly suggesting that ballot deadlines had passed in several states, which could mislead voters. This false information was widely disseminated on X before it was corrected. The secretaries of state are calling for immediate changes to Grok to ensure accuracy, particularly in an election year.

The issue is compounded by concerns about X’s moderation practices. Under Musk’s leadership, X has reduced its moderation staff significantly, which has raised questions about the platform’s ability to manage political misinformation. This reduction follows Musk’s controversial posts, including a video that falsely portrayed Harris and inflammatory comments on U.K. riots. The reduction in moderation staff and Musk’s own actions have intensified scrutiny over X’s handling of misinformation and its impact on public discourse.

 

India’s EtherealX has secured $5M (WHY)

By
David Abi
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0

India’s EtherealX has secured $5M in seed funding to develop fully reusable launch vehicles.

EtherealX, an Indian space startup, has raised $5 million in seed funding to develop fully reusable medium-lift launch vehicles. Founded in 2022, the company aims to create cost-effective and time-efficient space launches. Their vehicle, Razor Crest Mk-1, plans to offer full reusability, unlike partial systems like SpaceX’s Falcon 9.

EtherealX is developing its rocket engine technology and has acquired land in Tamil Nadu for its manufacturing facility. The startup plans to test its technology with a demonstrator vehicle in 2026 and is targeting a significant share of the launch market with cost-effective solutions. The funding round was led by YourNest and included other investors like BIG Capital and BlueHill Capital.

GrubMarket Takes Over Good Eggs

By
David Abi
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0

GrubMarket Takes Over Good Eggs.

GrubMarket, valued at $3.5 billion, has acquired the struggling fresh food delivery startup Good Eggs in an all-stock deal. The acquisition was initiated by Good Eggs’ investors seeking an exit. Good Eggs, once valued at $365 million, had seen a significant valuation drop to $22 million as it faced challenges post-COVID.

Under the new arrangement, Keith Brewer, formerly COO of GrubMarket-owned Daylight Foods, will lead Good Eggs. The deal reflects a trend of consolidation in the food and grocery delivery sector as investors look to pivot from failing startups to more stable players. GrubMarket, with its focus on B2B logistics and profitability, aims to use this acquisition to potentially re-enter the B2C market.

“Asake Explains Why Wizkid Track Opens His Latest Album”

By
David Abi
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"Asake Explains Why Wizkid Track Opens His Latest Album"

“Asake Explains Why Wizkid Track Opens His Latest Album”

Singer Asake has shared a heartwarming revelation about why he chose to feature his track with Wizkid as the opening song on his upcoming third album, “Lungu Boy.” The album’s tracklist, released on August 6, 2024, reveals that Asake collaborated with several international artists, including Wizkid, Travis Scott, Stormzy, Central Cee, and Ludmilla.

In a recent interview, Asake disclosed that he initially prepared to offer Wizkid $500,000 (approximately N800 million) for a verse. However, Wizkid’s response was unexpectedly generous. Rather than accepting the hefty payment, Wizkid declined the offer, stating that he wouldn’t charge Asake for the verse. He expressed admiration for Asake’s contributions to Afrobeats and offered to collaborate without financial compensation.

Wizkid’s decision left Asake both surprised and grateful. Asake recounted that Wizkid invited him to the studio, where he provided valuable career advice and praised Asake’s musical talents. This gesture deeply impacted Asake, leading him to feature their collaboration, “MMS,” as the first track on “Lungu Boy.”

Social media users have reacted positively to the news, with many praising Wizkid’s humility and generosity. Comments highlight Wizkid’s stature and his supportive role in the Afrobeats community, reinforcing his status as a revered figure in the music industry.

Comedian Sabinus’ response to choosing between Burna Boy and Davido

By
David Abi
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Comedian Sabinus’ response to choosing between Burna Boy and Davido

Comedian Sabinus’ response to choosing between Burna Boy and Davido

Nigerian comedian Sabinus, known for his witty skits, recently stirred up a buzz with his participation in a viral musical favorites game. During a car conversation with a fellow content creator, Sabinus was put to the test to pick his ultimate favorite among a roster of top Nigerian artists.

Initially, Sabinus confidently selected Kizz Daniel as his top choice from a list that included Ruger, Tems, Ayra Starr, Simi, and others. However, the game took a dramatic turn when he was asked to choose between Kizz Daniel and Burna Boy. Despite his usual calm demeanor, Sabinus struggled with this decision, eventually acknowledging Burna Boy’s superiority.

The game reached its peak when Sabinus was faced with choosing between Burna Boy and Davido, two giants in the music industry. Overwhelmed by the tough choice, Sabinus humorously requested a pause, unable to settle on a definitive answer. His playful struggle resonated with fans, highlighting the intense rivalry and admiration for both artists.

Ayra Starr’s Outfit at Barbados Carnival with Rihanna Sparks Reactions.

By
David Abi
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Ayra Starr's Outfit at Barbados Carnival with Rihanna Sparks Reactions (Video

Ayra Starr’s Outfit at Barbados Carnival with Rihanna Sparks Reactions (Video)

Ayra Starr’s recent appearance at the Barbados Carnival with Rihanna has stirred a range of reactions on social media. In the video, Starr is seen in revealing attire, which has sparked both praise and criticism.

Positive Reactions:

  • Wizkidgirlfriend: Jokingly wondered about her mom’s reaction to the photos, showing support and humor.
  • Chikadibia_light: Expressed love and excitement, suggesting that Ayra’s appearance is a celestial moment.
  • Roliiiiyy: Overflowed with admiration, using multiple heart and fire emojis.
  • Adebayo.official: Complimented Ayra’s fresh and clean look, showing enthusiastic support.
  • Redious_official: Praised her journey from meeting Rihanna to partying with her, calling it a dream come true.

Negative Reactions:

  • Hehateswitty: Made a sarcastic comment about the revealing outfit.
  • Ginnamlr: Criticized the outfit and suggested it does not align with Nigerian values, expressing concern over the perceived lack of modesty.

The range of responses highlights differing opinions on celebrity fashion and cultural expectations

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