Author: Staff Reporter

Ending Hunger by 2030 Will Cost $93bn Annually – WFP The UN World Food Programme (WFP) has said ending hunger by 2030 would cost just $93 billion a year—less than one per cent of the $21.9 trillion spent on military budgets over the past decade. By 2026 a staggering 318 million people would face crisis levels of hunger or worse, more than double the figure recorded in 2019, the food agency reported in its 2026 Global Outlook. International support for the world’s hungriest people is “slow, fragmented, and Underfunded,” meaning that many living in the world’s trouble spots will likely…

President Bola Tinubu has assured potential partners and foreign investors that the right time to invest in Nigeria’s aviation is now, as the industry

COP30: Nigeria Set to Boost Green Economy, Tackle Climate Change Mrs Tenioye Majekodunmi, Director-General, National Council on Climate Change (NCCC), says Nigeria will intensify efforts to advance the green economy toward mitigating climate change. Majekodunmi said this on Monday during an interview with the News Agency of Nigeria on the sidelines of the 30th United Nations Climate Change Conference of the Parties in Belém, Brazil. She said focus on overall environmental sustainability including renewable energy, sustainable agriculture, and waste management would be maintained nationwide. According to her, Nigeria has taken this charge to heart. Our commitment is not just an…

Pension Delay for Treasury-Funded MDAs Retirees Over – PenCom The National Pension Commission (PenCom) says the era of delayed pension payments for retirees of treasury-funded Ministries, Departments and Agencies (MDAs) is over. Mr Ibrahim Buwai, Head of the Corporate Communications Department in the commission, stated this in an interview with the News Agency of Nigeria (NAN), in Abuja on Sunday. According to Buwai, PenCom has achieved promptness in the remittance of accrued pension rights, following a sustained reforms and improved remittance systems. He said the commission has been paying accrued pension rights as and when due, since July, ensuring that…

Air Peace Loses $15m to Disruptions As Lessor Withdraws Aircraft Air Peace Ltd. has attributed sudden disruptions in its domestic operations to ‘illegal’ withdrawal of three aircraft by its wet lessor, Smartlynx Airlines. The airline said on Friday that the disruptions cost it 15 million U.S. dollars. The Chief Commercial Officer at Air Peace, Mr Nowel Ngala, disclosed this at a news conference in Lagos. According to Ngala, Air Peace has experienced a number of operational disruptions, resulting in flight delays and cancellations. He said that Air Peace entered a wet-lease agreement with Smartlynx because 13 of its aircraft were undergoing scheduled maintenance abroad. According…

MDGIF Invests N287bn in 62 Gas Infrastructure Projects – FG The Federal Government (FG) says the Midstream and Downstream Gas Infrastructure Fund (MDGIF) has invested over N287 billion in various gas infrastructure projects with 16 companies across 62 projects as of October 2025. Mr Farouk Ahmed, the Chief Executive, Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), disclosed this on Thursday in Abuja. Ahmed, represented by the authority’s Legal Adviser and Secretary, Dr Joseph Tolorunse, said this at the maiden conference of the Energy Correspondents Association of Nigeria (ECAN), commemorating the fourth anniversary of the PIA. The maiden conference was…

Senate Approves N1.15trn Loan to Fund 2025 Budget Deficit The Senate on Wednesday approved President Bola Ahmed Tinubu’s request to establish a ₦1.150 trillion domestic borrowing programme aimed at closing the funding gap in the 2025 budget deficit. The decision followed the consideration and adoption of a report presented by the Senate Committee on Local and Foreign Debt, chaired by Senator Aliyu Magatakarda Wamakko. President Tinubu’s request, detailed in a communication dated October 31 and read during plenary on November 4, was made in line with the provisions of the Debt Management Office (Establishment) Act, 2003, and the Fiscal Responsibility…

Lagos to Establish Wealth Fund for Infrastructure, Innovation The Lagos State Government is set to introduce a bill to establish a Wealth Fund aimed at driving infrastructure development, innovation, and job creation for its growing population. Speaker of the House, Mr Mudashiru Obasa, confirmed this during a public hearing organised by the Assembly’s Committee on Finance on Wednesday in Lagos. The bill is titled: ‘A Bill for a Law to Establish the Lagos State Wealth Fund to Receive, Manage and Invest in a Diversified Portfolio of Medium- and Long-Term Assets for the Benefit of Lagos State and Future Generations.’ Obasa,…

Reps to Probe Oil Companies for Failing to Pay 3% Host Trust Fund The House of Representatives has resolved to investigate alleged failure of oil companies to release 3 per cent of their annual operating expenditures to Host Communities Development Trust Fund (HCDTF). The resolution was a sequel to the adoption of a motion sponsored by Rep. Hart Godwin at plenary on Wednesday in Abuja. Moving the motion, Godwin said that in 2021, the Petroleum Industry Act, (PIA) was enacted to provide legal governance, regulatory and fiscal frameworks for the Nigerian Petroleum Industry and the development of host communities. He…

Pensioners Give FG Deadline, Plan Naked Protest Nov. 24 The Coalition of Federal Pensioners of Nigeria has threatened a nationwide naked protest on Nov. 24 if government fails to pay their outstanding pension increment arrears and palliative allowances. The coalition’s National Chairman, Mr Mukaila Ogunbote, announced this during a news conference on Tuesday in Lagos. Ogunbote, who is also the Chairman, Nigeria Union of Pensioners, NIPOST Chapter, said the protest would hold if the Federal Government failed to fulfill the promise of paying the N32,000 approved pension increment arrears and the N25,000 palliative allowance approved since 2023. He said the…