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Folarin Kehinde

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BREAKING: Abure fights back, disowns outcome of LP meeting summoned by Gov Otti

by Folarin Kehinde
written by Folarin Kehinde

The Labour Party has officially distanced itself from the outcome of the recent stakeholders meeting held in Umuahia, which was summoned by Abia State Governor Alex Otti.

In a press release issued today, the party denounced the meeting as both illegal and unconstitutional.

The Labour Party stated that the gathering was not sanctioned by the party and therefore does not reflect its position or interests.

The Labour Party stated that the gathering was not sanctioned by the party and therefore does not reflect its position or interests.

The party urged its members and the general public to disregard any resolutions or statements that emerged from the meeting, reaffirming its commitment to upholding due process and constitutional governance.

“The Labour Party disowns the outcome of the Umuahia stakeholders meeting convened by Governor Alex Otti. The meeting is illegal and unconstitutional, and we urge our members to disregard any resolutions from this gathering,” the statement read.

The party reiterated its stance on following established legal and party procedures for any official decisions or actions, distancing itself from any activities that do not align with these principles.

Recall that the meeting had elected Senator Nenadi Usman as the interim national chairperson of the party.

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BREAKING: “Falsehood Does Not Live Forever” – NLC Fires Back at Presidency Over Fuel Price Increase

by Folarin Kehinde
written by Folarin Kehinde

The National Labour Congress (NLC) has reacted to the denial by the presidency of an agreement to maintain fuel prices as part of the N70,000 minimum wage deal in July.

The NLC described the presidency’s claim as “selective amnesia.”

It can be recalled that on Tuesday, the NLC demanded a reversal of the fuel price hike from N855-N897 per litre to the previous price of N568-N617 per litre.

However, the presidency, through its aide Abdulaziz Abdulaziz, denied any agreement on fuel prices.

“At neither of the meetings was an offer made in exchange for a fuel price hike. Ajaero is once again playing his dirty politics with the emotions of Nigerians,” the presidential aide had said.

Reacting, the NLC in a statement signed by its Head of Information and Public Affairs, Benson Upah, expressed amusement at the presidency’s denial.

“We stand by our statement,” Upah said. “If Abdulaziz was at those meetings as he claimed, he should be courageous enough to let the world know whether the President gave the labour leaders one hour to meet and resolve to either accept and allow an increase or accept N62,000.”

The NLC also accused Abdulaziz of insulting Nigerians’ intelligence and reminded him that “falsehood does not live forever.”

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Business

Nigeria emerges third-largest debtor to World Bank’s IDA, gets $2.2 billion under Tinubu

by Folarin Kehinde
written by Folarin Kehinde

Nigeria has ascended to become the third-largest debtor to the World Bank’s International Development Association (IDA) as of June 30, 2024, reflecting a significant increase in the country’s borrowing from the institution.

According to the World Bank’s financial statements, Nigeria’s exposure to the IDA rose by 14.4% from $14.3 billion in the fiscal year (FY) of 2023 to $16.5 billion in FY2024.

This $2.2 billion increase places Nigeria among the top three IDA debtors for the first time, a notable shift from its previous position as the fourth-largest borrower in 2023.

The fiscal year for 2024 runs from July 2023 to June 2024, which means that Nigeria has received at least $2.2 billion from the World Bank under the administration of President Bola Tinubu.

This debt is different from any outstanding loan from the World Bank’s International Bank for Reconstruction and Development (IBRD).

Bangladesh remains the largest IDA debtor, with its exposure increasing from $19.3 billion in 2023 to $20.5 billion in 2024. Pakistan follows, maintaining its second position with a stable exposure of $17.9 billion over the same period.

India, which was previously the third-largest borrower in 2023 with $17.9 billion, saw a decrease in its IDA exposure to $15.9 billion in 2024, allowing Nigeria to surpass it.

Other significant IDA borrowers include Ethiopia, whose exposure grew from $11.6 billion in 2023 to $12.2 billion in 2024, and Kenya and Vietnam, both with $12.0 billion in 2024.

These countries, along with Tanzania, Ghana, and Uganda, comprise the top ten IDA debtors, collectively accounting for 63% of the IDA’s total exposure as of June 30, 2024.

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Headlines

BREAKING: Labour Party Gets New National Chairperson

by Folarin Kehinde
written by Folarin Kehinde

The Labour Party (LP) has appointed Senator Esther Nenadi Usman as the Chairman of its Caretaker Committee.

Usman’s appointment was announced during a stakeholders meeting held in Umuahia, Abia State capital, on Wednesday.

The new leadership is saddled with rescuing the party from its current leadership crisis.

Senator Usman, a former Minister of Finance and representative of Kaduna South senatorial district from 2011 to 2015, will lead the 29-member committee tasked with reorganizing the party and setting it on a path to electoral success.

The committee has 90 days to complete its assignment, which includes organizing a convention to elect new leadership from the ward to the national stage.

Immediate-past Senate Minority Deputy Leader, Senator Darlington Nwokocha from Abia Central, will serve as the Secretary of the committee.

The meeting was hosted by Gov. Alex Otti. It was attended by top party officials, including presidential candidate Peter Obi, his running mate Datti Ahmed, Senator Victor Umeh, and Lagos State governorship candidate Rhodes-Vivour.

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Kenneth Okonkwo demands Tinubu, Atiku, Obi withdraw from 2027 race

by Folarin Kehinde
written by Folarin Kehinde

Kenneth Okonkwo, a former spokesman for the Labour Party presidential campaign council, has called for President Bola Tinubu, Atiku Abubakar, and Peter Obi to withdraw from the 2027 elections.

In a recent interview with Arise TV, Okonkwo expressed frustration over the current leaders’ failure to fulfil their promises and unite the opposition.

Okonkwo criticised the inability of the opposition to form effective alliances, which he believes resulted in missed opportunities to secure key positions in the House of Representatives.

He argued, “The ruling party has failed, and the opposition has failed. In the House of Representatives, you have more opposition members than the ruling class.”

He further emphasised the need for new political faces, stating, “I completely agree with you that we need new faces, 100%, and that was why I have said that Atiku, Peter Obi, and Tinubu should step aside.”

Okonkwo’s comments reflect a growing sentiment among Nigerians for change and effective leadership as the country approaches the 2027 elections.

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JUST IN: “Arrest Wike Now” – Northern Youths Question FG over Silence on Threats by FCT Minister

by Folarin Kehinde
written by Folarin Kehinde

Northern youths under the canopy of the Northern Youth Leaders Forum (NYLF), have called for the immediate arrest and sacking of Minister of the Federal Capital Territory (FCT), Barrister Nyesom Wike, over threats to democracy.

The forum which comprises 50 youth groups from 19 Northern states and the FCT, made the disclosure in a statement issued on Wednesday, September 4.

The group condemned Wike’s public threat to cause a crisis in PDP-controlled states, describing it as a call for anarchy and a threat to democracy.

The NYLF expressed concern over the Federal Government’s silence and inaction, accusing them of turning a deaf ear and blind eye to Wike’s “inimical, ruthless, arrogant, proud, boastful, and irresponsible utterances.”

The group demanded Wike’s arrest and signing of an undertaking to not initiate or carry out his threat. They also called for his removal from the Federal Executive Council and suspension from the PDP.

The NYLF assured their support for the Senator Bala Mohammed-led PDP Governors Forum and Governor Fubara, stating they will do everything possible within the law to support them.

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Police poisoned me twice, one succeeded – PIDOMNIGERIA alleges

by Folarin Kehinde
written by Folarin Kehinde

Embattled investigative journalist and whistle-blower, Bristol Isaac Tamunobiefiri popularly known as PIDOMNIGERIA, on Tuesday alleged plots by the Nigeria Police Force to poison him.

PIDOMNIGERIA alleged that men of the NPF made two attempts to poison him.

Disclosing this, a fellow undercover journalist, David Hundeyin said one of the attempts was successful.

Posting on X, Hundeyin wrote: “I spoke to @PIDOMNIGERIA on the phone after his arraignment earlier today. He informed me that the police made 2 attempts to poison him last week, at least one of which was visibly successful.”

On Tuesday, the police arraigned the whistleblower on charges of money laundering, unlawfully obtaining and disseminating classified official secret documents and cybercrime at the Federal High Court in Abuja.

After listening to his matter, Justice Emeka Nwite subsequently sent PIDOMNIGERIA to prison.

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Nigeria’s power generation hits 5,313MW, first time in 3 years

by Folarin Kehinde
written by Folarin Kehinde

Nigeria’s power generation rose to a three-year high of 5,313mw, the Minister of Power, Mr Adebayo Adelabu has said.

He made this known in a statement issued by his Special Adviser on Strategic Communication and Media Relations, Mr Bolaji Tunji.

According to the statement, the Minister urged Electricity Distribution Companies (DisCos) to take more energy for distribution in order to prevent a grid collapse.

”When power is produced and not picked by the DisCos, it could lead to grid collapse as frequency drops..

”Efforts will be made to encourage industries to purchase bulk energy,” he said.

Recall that in May this year, the federal government pledged to generate 6,000 megawatts of electricity before the end of 2024.

During his ministerial address in Abuja while presenting achievements of his ministry since President Bola Tinubu assumed office, Adelabu, said the country’s power generation rose to 5,000MW on May 3.

Adelabu vowed that power generation in Nigeria would hit 6,000MW before the end of this year, going by the improvements in the sector in 2023.

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Dangote
Headlines

FEC to determine price of petrol from our refinery – Dangote

by Folarin Kehinde
written by Folarin Kehinde

Businessman, Aliko Dangote, on Tuesday revealed that the Federal Executive Council is working on a new pricing arrangement for petrol produced from the Dangote Refinery.

The 650,000-barrel-per-day facility officially unveiled its refined petrol on Tuesday with Dangote announcing that product will be in filling stations in the next 48 hours depending on the country’s national country.

Speaking on the retail price, Dangote stated, “It is an arrangement which is designed and approved by the Federal Executive Council led by His Excellency, President Bola Ahmed Tinubu.

“As soon as it is finalised, which he (Tinubu) is pushing, once we finish with NNPC, it can be today, it can be tomorrow, we are ready to roll into the market.”

In June, Tinubu approved the sale of crude oil to the Dangote Refinery in naira, a move that is geared towards crashing the prices of domestically refined petroleum products.

Dangote said the development will reduce the demand for foreign exchange by 40 per cent.

“I will like to salute the people of Nigeria and the government of President Bola Tinubu for creating the environment for us to thrive and also achieve this monumental of giving energy to our people for growth, and prosperity.

“I want to thank President Bola Tinubu for creating this idea of Naira for crude and Naira for the product. Doing that will give a lot of stability to the Naira and remove 40 per cent of the demand for dollars. That’s not just it, there is a lot of round-tripping.”

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Business

JUST IN: FG increases petrol pump price to N855 per litre

by Folarin Kehinde
written by Folarin Kehinde

President Bola Tinubu’s administration appears to have upped the petrol price from N650 to N855, according to pump price displays on Tuesday on fuel dispensers at the government NNPC stations.

Amid a lingering fuel scarcity and crisis, petrol prices on dispensing machines of government-backed NNPCL stations in Lagos and Abuja on Tuesday showed N855 per litre, cementing claims that the price has been reviewed upward to reflect the nation’s current foreign exchange woes and fuel landing cost hassles.

Tinubu increases petrol pump price to N855 per litre
Several filling stations adjusted their price to N897 per litre on Tuesday morning.

Other filling stations adjusted their price to N897 per litre on Tuesday morning.

Femi Soneye, the NNPCL spokesperson, told Peoples Gazette, “I’m not aware. But I’ll find out.”

Fuel prices have dwindled between N580 per litre to N700 per litre since Mr Tinubu became president and announced the removal of fuel subsidies in 2023.

But in recent weeks, the nation has suffered an acute fuel scarcity that led the few stations with fuel to sell at exorbitant prices above N900 per litre while black market prices exceeded N1,000.

On Thursday, the Tinubu government issued a statement denying reports that pegged the official fuel increase to N1,000.

“The federal government is compelled to address the outright falsehoods currently being circulated on social media, which claim that the Minister of Petroleum Resources (Oil), Senator Heineken Lokpobiri, has directed the Nigerian National Petroleum Company Limited to inflate petroleum prices above the approved pump price,” said the statement by Nnemaka Okafor, special adviser, media and communication, to the Minister for Petroleum Resources (Oil), Heineken Lokpobiri.

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