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The Nigerian National Petroleum Company Limited (NNPC Ltd) on Wednesday increased the price of Premium Motor Spirit (PMS), otherwise known as Petrol of fuel from N855 to N998 per litre. Reports claimed that the increment has been initiated across all NNPC Ltd filling stations. The new development is a 12.7% or N113 increase from the initial price. Details later…
President Bola Tinubu has called on Governor Siminalayi Fubara, political leaders and their supporters in Rivers State to exercise restraint and uphold the rule of law. In response to recent tensions following last Saturday’s local government council election, the President expressed deep concern over reports of arson and explosions in the state. He urged all political actors to de-escalate the situation and discourage their supporters from engaging in violence or destructive actions. President Tinubu directed the police to restore and maintain peace, law, and order immediately. While instructing law enforcement agencies to bring the situation under control, he emphasised the need to ensure the security of public institutions. President Tinubu said government facilities built with public funds must be safeguarded from vandalism. He stressed that self-help has no place in a democratic system, especially after 25 years of continuous democracy. According to President Tinubu, the judiciary can settle all political disputes, and the outcome of this election should be no exception.
The Federal Government has reportedly approved the contruction of an airstrip for Faith Tabernacle, Canaanland, Bishop David Oyedepo of the Living Faith Ministries has said. Oyedepo made this disclosure to members of his congregation at his church’s Tehillah Night Special Edition in Canaanland, Otta, Ogun State. Announcing the new development, the clergy said he can now move to anywhere from his church premises without having to get to the airport first. He also reminded members of the congrefation that they working in purpose with the plan of God for them following the development. The Bishop said, “I am sure you will be glad to know that Federal Government has approved an airstrip for Canaanland. “You are working in the center of God’s plan, so that I don’t need to fly an helicopter to the airport. I can leave from here to where ever I am going,” Oyedepo said.
Justice Maryanne Anenih of the Federal Capital Territory, FCT in Maitama, Abuja on October 3, 2024, has issued a public summon against former Governor of Kogi State, Yahaya Adoza Bello following his absence in a fresh arraignment on 16-count charges preferred against him by the Economic and Financial Crimes Commission, EFCC. Bello, Shuabu Oricha and Abdulsalami Hudu are facing prosecution bordering on criminal breach of trust, and conspiracy to commit an offence to the tune of N110.4 Billion. Justice Anenih issued the summon in a ruling following an ex parte application by EFCC counsel, Rotimi Oyedepo, SAN praying the court to grant leave that the defendant be served the charges via substituted means, following his absence in court to answer charges filed against him on September 24, 2024. The court ordered that the charges be served on the defendant at his known residence, No 4, Benghazi Street, Maitama, Abuja, through a public summons to be published in widely circulated national newspapers and also pasted within the premises of the court. The judge granted two separate adjournments: October 24, 2024, and November 14, 2024. The former was for arraignment on the grounds that the defendant will be arrested and brought to court by EFCC and the latter when the 30 days of service elapsed. Bello is also being awaited for arraignment before Justice Emeka Nwite of the Federal High Court, Abuja on an 18-count charge bordering on money laundering to the tune of N80.2billion.
Operatives of the Port Harcourt Zonal Directorate of the Economic and Financial Crimes Commission EFCC, have arrested 33 (Thirty-Three) suspected internet fraudsters in Port Harcourt, Rivers State. They were arrested in their hideouts around Iwofe and Ogboro axes of Port Harcourt in a sting operation, based on credible intelligence on their suspected involvement in internet fraud. Items recovered from the suspects include various mobile phone devices, laptops, boxes of fake United States Dollars, fake Federal Bureau of Investigation, FBI stamps, Customs stamps, airport clearance stamps, DHL and FedEx stamps and two cars. The suspects would be charged to court upon conclusion of investigations.
The Minister of Finance and Coordinating Minister of the Economy Mr. Wale Edun has unveiled two major fiscal incentives aimed at revitalizing Nigeria’s oil and gas sector: •Value Added Tax (VAT) Modification Order 2024 •Notice of Tax Incentives for Deep Offshore Oil & Gas Production, in accordance with the Oil & Gas Companies (Tax Incentives, Exemption, Remission, etc.) Order 2024. The VAT Modification Order 2024 introduces exemptions on a range of key energy products and infrastructure, including Diesel, Feed Gas, Liquefied Petroleum Gas (LPG), Compressed Natural Gas (CNG), Electric Vehicles, Liquefied Natural Gas (LNG) infrastructure, and Clean Cooking Equipment. These measures are designed to lower the cost of living, bolster energy security, and accelerate Nigeria’s transition to cleaner energy sources. In addition, the Notice of Tax Incentives for Deep Offshore Oil & Gas Production provides new tax reliefs for deep offshore projects. This initiative is aimed at positioning Nigeria’s deep offshore basin as a premier destination for global oil and gas investments. These reforms are part of a broader series of investment-driven policy initiatives championed by His Excellency, President Bola Ahmed Tinubu, in line with Policy Directives 40-42. They reflect the administration’s strong commitment to fostering sustainable growth in the energy sector and enhancing Nigeria’s global competitiveness in oil and gas production.
President Bola Ahmed Tinubu has departed Abuja for the United Kingdom to begin a two-week vacation, part of his yearly leave. The Special Adviser to the President on Information & Strategy, Mr. Bayo Onanuga stated this in a statement on Wednesday. Onanuga said the President will use the two weeks as a working vacation and a retreat to reflect on his administration’s economic reforms. He adds that President Tinubu will return to the country after the leave expires.
Operatives of the Gombe Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, have arrested 21 (Twenty-One) suspected internet fraudsters in Yola, Adamawa state. They were arrested on Tuesday, September 24, 2024, at different locations around Modobo Adamawa University, Yola. Items recovered at the points of arrest include 13 phones, 12 Android phones, one laptop and one tablet phone. The suspects would soon be charged to court.
