Author: Ogochukwu Ndubuisi

Senate Rejects NMDPRA’s PMS Import Records, Summons Agency Heads The Senate Committee on Public Accounts on Wednesday rejected the Nigerian Midstream and Downstream Petroleum Regulatory Authority’s (NMDPRA) records of Premium Motor Spirit (PMS) imports for 2022 and 2023. This is over discrepancies with those of the Nigerian National Petroleum Company Ltd. (NNPCL). The committee consequently resolved to summon the heads of NMDPRA, NNPCL and the Nigeria Extractive Industries Transparency Initiative (NEITI) to explain the discrepancies and facilitate reconciliation of the records. The discrepancies emerged when NMDPRA appeared before the Senate Public Accounts Committee chaired by Sen. Hassan Dankwambo. The agency…

The Nigerian stock market halted its single-day relief rally on Wednesday as sell pressure hit FirstHoldco (4.59%), Zenith Bank (1.21%), Access Holdings (6.12%), UBA (0.24%), and GTCO (0.08%).

Trump: US Taxpayers Tired of Funding Ukraine, Zelenskyy Must Make Deal With Russia US President Donald Trump on Tuesday urged Ukrainian President Volodymyr Zelenskyy to make a deal with Russia, warning that Ukrainians may no longer support continued war. “We want Zelenskyy to make a deal. He can make a deal. He could have made a deal two years ago when we had our little chat in the Oval Office,” Trump told reporters at the White House. “He’s going to have to want to make a deal, because I don’t think his people are going to stand for it any…

WHO Advises Against Travel Curbs as Nigeria Confirms Ebola Case World Health Organisation (WHO) has advised against any restriction of travel to, or trade with, affected countries, as Nigeria confirms the first imported Ebola case. The world body says it will continue to closely monitor, and where necessary, verify travel and trade measures in relation to the event in Nigeria. WHO gave the warning in a statement on Tuesday as the Nigerian Government confirmed one imported case of Bundibugyo Ebola virus in the Federal Capital Territory (FCT). The UN health agency stated that risk assessment was being regularly reassessed to…

NCC Vows Stronger Consumer Protection, Holds Operators Accountable for Service Quality The Nigerian Communications Commission (NCC) has reaffirmed its commitment to protecting telecommunications consumers, declaring that operators will be held accountable for service failures and poor service quality as the Commission intensifies regulatory measures to improve customer experience across the country. The Executive Vice Chairman of the NCC, Dr. Aminu Maida, made the commitment at the 95th Telecom Consumer Parliament in Lagos, with the theme “Enhancing Consumer Experience: Strengthening Service Quality and Consumer Protection in Nigeria’s Digital Economy.” He stressed that effective regulation must translate into tangible improvements in the…

Oil prices edged higher on Wednesday after statements reinforced expectations that Iran

APC Dismisses Alleged Plot to Assassinate Atiku The All Progressives Congress (APC) Presidential Campaign Council (PCC) has dismissed allegations that the Federal Government is plotting to assassinate former Vice-President Atiku Abubakar. Mr Dele Alake, the council’s spokesperson and Minister of Solid Minerals Development, described the allegation as grave in a statement issued in Abuja on Tuesday. Mr Timi Frank, a member of the African Democratic Congress (ADC), had alleged that the Federal Government was plotting to assassinate Atiku. Atiku is the ADC’s presidential candidate for the 2027 general elections. Alake challenged Frank to substantiate the allegation, urging security agencies to…

Industrial stocks led the relief rally on the Nigerian Exchange (NGX) as the total equities portfolio value climbed N411 billion, halting the downtrend on Tuesday.

Bankers Urge Oil Licence Holders to Invest Equity Before Seeking Loans Bankers have urged holders of newly awarded petroleum licences to invest their own funds in exploration activities to reduce risks and attract financing for assets yet to generate revenue. They advised at an onboarding workshop organised by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for licence holders on Tuesday in Lagos. Mr Akintade Thomas-Owoseni, Executive Principal, Standard Chartered Bank Nigeria, said that financing unproven petroleum assets was difficult without existing cash flow. He said that licence holders needed to demonstrate financial commitment and present clear plans for developing and…

NCC Moves to Expand Phone Number Fraud Checks Across Sectors The Nigerian Communications Commission (NCC) says it is planning to extend phone number verification across sectors to reduce fraud risks associated with recycled numbers and compromised digital identities. The Executive Vice Chairman of NCC, Dr Aminu Maida, said this at the 95th Telecom Consumer Parliament organised by the commission on Tuesday in Lagos. Maida said the proposed expansion of the Telecommunications Identity Risk Management System (TIRMS) would help organisations identify recycled phone numbers and those flagged for fraudulent activities. He explained that phone numbers had become essential to accessing financial…