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Home > Archives for > Page 73
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Folarin Kehinde

Folarin Kehinde

Headlines

FCT Minister Wike Opens Up on Pressures of Office

by Folarin Kehinde October 26, 2024
written by Folarin Kehinde

Nyesom Wike, Minister of the Federal Capital Territory (FCT), has expressed frustration with Nigeria’s existing procurement law, which he claims is a major hindrance to the swift execution of critical infrastructure projects in Abuja.

Wike raised these concerns during the official launch of the Arterial Road N5 (Obafemi Awolowo Way) development from Life Camp Junction to Ring Road III in Abuja on Friday.

Describing the law as “our major headache,” Wike explained how the current regulatory framework slows down approvals for project procurements, sometimes stretching the process for up to four months.

“Yes, [the procurement law] is to protect and make sure our money is safe,” Wike remarked, “but then, if you look at the overall situation, it drags us backwards.”

Wike argued that amending the procurement law could reduce these bureaucratic delays and enable more efficient project management across the capital.

He cited his experience as governor, where he successfully amended similar laws to expedite projects with contractor Julius Berger, achieving a significant 70% upfront payment to speed up work.

“That’s how we were able to complete 12 flyovers in four years,” he said.

The minister further expressed gratitude for President Bola Tinubu’s support, noting that the president’s backing has been crucial for advancing infrastructure development in the FCT.

October 26, 2024 0 comments
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Entertainment

Abuja Set for Unveiling of Lórien Restaurant by Whiskey Mistress CEO

by Folarin Kehinde October 25, 2024
written by Folarin Kehinde

Abuja is buzzing with excitement as one of the capital’s foremost figures in the hospitality and culinary scene, Adenike Adeeko, prepares to unveil her latest venture, Lórien Restaurant, on November 1, 2024.

Adeeko, the Chief Executive Officer and Founder of Whiskey Mistress, made the announcement in a statement released ahead of the restaurant’s grand opening.

“Lórien” is described as a destination of elegance and enchantment, drawing inspiration from rich fantasy worlds, according to Adenike.

She noted that the name evokes a sense of timeless beauty and serenity, suggesting a sanctuary for guests seeking a luxurious and immersive dining experience.

“In the context of the restaurant, Lórien feels like an escape into a world of charm and sophistication, with a blend of fantasy and French culinary traditions,” Adenike said.

The entrepreneur emphasized that the restaurant would offer an exclusive and wonder-filled dining atmosphere, aiming to transport guests into a themed experience unlike any other in the city.

Whiskey Mistress, her well-known establishment, has already earned a reputation for combining luxury with exceptional service, and Adenike Adeeko is now looking to elevate Abuja’s fine dining scene further with Lorien.

While the exact menu has not yet been revealed, insiders suggest that it will feature an array of French-inspired dishes, fused with modern culinary techniques, set in an environment designed to captivate the senses.

The November 1st launch is expected to attract Abuja’s elite and discerning food enthusiasts, eager to experience what is being billed as one of the capital’s most anticipated restaurant openings of the year.

Adeeko, known for her flair for combining hospitality and gastronomy, hinted that Lorien will offer more than just fine dining.

“We want our guests to feel as though they are stepping into a world of fantasy, with every detail—from the decor to the cuisine—carefully curated to create an unforgettable experience,” she added.

With just days to go before the unveiling, anticipation continues to build across the city, as residents await what many hope will be a game-changer in Abuja’s hospitality sector.

October 25, 2024 0 comments
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Headlines

Tribunal suspends three top Kaduna officials over false asset declarations

by Folarin Kehinde October 25, 2024
written by Folarin Kehinde

The Code of Conduct Tribunal has ordered the suspension of three senior Kaduna State officials following allegations of false asset declarations, pending their trial.

In a statement released on Thursday by the Code of Conduct Bureau (CCB), Samuel Peter, the Acting Commissioner for Internal Security; Shizzer Bada, the Commissioner for Finance; and Tijjani Abdullahi, the Executive Chairman of the State Universal Basic Education Board, were directed to step down from their positions.

The order, issued on 22 October, follows an ex parte application filed by the CCB.

An ex parte application is heard by a court in the absence of the adverse party.

The officials are accused of violating the provision of the CCB and CCT Act that requires public officers to declare their true assets from time to time.

The tribunal’s decision remains in effect pending the hearing of a motion filed by the bureau on 21 October, along with formal charges against the officials.

The statement said the tribunal has also instructed the Kaduna State Governor and Secretary to the State Government to appoint interim replacements for the suspended officials.

“The Tribunal delivered this ruling on 22 October 2024, following an ex parte application submitted by the Code of Conduct Bureau regarding allegations of violations of the Code of Conduct Bureau and Tribunal Act, CAP C1 LFN 2004,” Veronica Kato, the bureau’s spokesperson, said in a statement.

The trio is scheduled to appear before the tribunal on 7 November.

October 25, 2024 0 comments
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Tinubu
Headlines

Tinubu restricts ministers, head of agencies to three Official Vehicles

by Folarin Kehinde October 24, 2024
written by Folarin Kehinde

President Bola Tinubu has restricted Ministers, Ministers of State, and Heads of Agencies of the Federal Government to a maximum of three vehicles in their official convoys.

No additional vehicles will be assigned to them for movement.

The cost-cutting measure was announced today in a statement signed by the President.

In January this year, President Tinubu took significant steps to reduce government expenditure, by reducing his entourage on foreign trips from 50 to 20 officials. For local trips, he reduced it to 25 officials.

He similarly reduced the Vice President’s entourage to five officials on foreign trips and 15 for local trips.

In the directive issued today, President Tinubu also ordered all ministers, ministers of state, and heads of agencies to have at most five security personnel attached to them.

The security team will comprise four police officers and one Department of State Services (DSS) officer.

No additional security personnel will be assigned, he ordered.

President Tinubu instructed the National Security Adviser to engage with the Military, Paramilitary and Security Agencies to determine a suitable reduction in their vehicle and security personnel deployment.

All affected officials are expected to comply with these new measures immediately, underscoring the urgency and seriousness of these changes.

Bayo Onanuga

Special Adviser to the President

(Information & Strategy)

October 24, 2024

October 24, 2024 0 comments
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Headlines

BREAKING: Canada reduces permanent residency application slots

by Folarin Kehinde October 24, 2024
written by Folarin Kehinde

The Canadian Government has announced measures to tackle population growth by lowering the number of permanent residents coming to the country.

The Minister of Immigration, Refugees and Citizenship, Marc Miller, on Thursday, announced that rather than the 500,000 yearly slots for permanent residents, the country would be lowering the numbers for the next three years.

It said the new measure would come into effect from 2025.

According to him, the county will welcome 395,00 permanent residents in 2025; 380,000 in 2026, and 365,000 in 2027.

He explained that the 2025–2027 Immigration Levels Plan will pause population growth in the short term to achieve well-managed, sustainable growth in the long term.

“The levels plan includes controlled targets for temporary residents, specifically international students, and foreign workers, as well as for permanent residents,” the minister said.

“Today’s announcement is the next step in our plan to address the evolving immigration needs of our country. While it’s clear our economy needs newcomers, we see the pressures facing our country, and we must adapt our policies accordingly.

“These changes will make immigration work for our country so that everyone has access to the quality jobs, homes, and support they need to thrive. We have listened to Canadians, and we will continue to protect the integrity of our system and grow our population responsibly,” he added.

He explained that the Levels Plan also supports efforts to reduce temporary resident volumes to 5% of Canada’s population by the end of 2026.

“Specifically, compared to each previous year, we will see Canada’s temporary population decline by 445,901 in 2025; 445,662 in 2026, and a modest increase of 17,439 in 2027,” the minister added.

Canada’s population has grown in recent years, reaching 41 million in April 2024, with immigration accounting for almost 98% of this growth in 2023, 60% of which can be attributed to temporary residents.

October 24, 2024 0 comments
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Headlines

BREAKING: Eight Feared Dead in Rivers Helicopter Crash

by Folarin Kehinde October 24, 2024
written by Folarin Kehinde

A devastating helicopter crash in Rivers State has left eight people, including six oil workers and two crew members, feared dead.

The helicopter, owned by Eastwind Aviation, crashed into the Atlantic Ocean on Tuesday morning while transporting the victims to the OML 123 oil field.

The incident occurred around 11:40 a.m., as the helicopter was en route to the Mimbo platform and the Floating Production Storage and Offloading (FPSO) vessel.

Sources close to the situation reported that the helicopter unexpectedly ditched before nosediving into the ocean.

“There were six personnel and two crew members onboard the helicopter. Three bodies have been recovered so far. Search and rescue is ongoing,” said an insider familiar with the rescue efforts.

At the time of reporting, authorities had yet to confirm the total number of fatalities, but fears are mounting that all eight individuals onboard may have perished.

Rescue teams continue to search the crash site, hoping to find survivors or recover the remaining bodies.

This tragic incident highlights ongoing safety concerns regarding helicopter operations in Nigeria’s offshore oil fields.

The crash adds to a growing list of aviation accidents in the region, prompting authorities to call for stricter safety measures.

Local authorities and aviation safety agencies are expected to launch a formal investigation into the cause of the crash.

October 24, 2024 0 comments
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Headlines

BREAKING: Tinubu asks senate to confirm seven ministerial nominees

by Folarin Kehinde October 24, 2024
written by Folarin Kehinde

President Bola Tinubu on Thursday asked the Senate to confirm seven new ministerial nominees.

This was contained in a letter from the executive and read by Senate President Godswill Akpabio on the floor of the upper legislative chamber.

Leading reporters recalls that President Tinubu on Wednesday sacked at least five ministers and scrapped two ministries.

The president also assigned new portfolios to some Ministers in the Wednesday cabinet shake-ups.

Details shortly….

October 24, 2024 0 comments
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Business

BREAKING: Nigeria’s Public Debt Hits N134.3 Trillion in Q2 2024

by Folarin Kehinde October 24, 2024
written by Folarin Kehinde

Nigeria’s public debt has reached an all-time high of N134.3 trillion, as of the end of the second quarter of 2024.

This represents a sharp increase compared to the N121.7 trillion recorded just a few months earlier in the first quarter.

The main reason for the increase is the devaluation of the country’s currency, the naira. According to a report from the Ministry of Finance, the dollar amount of the debt has not changed much, but because the naira has lost value, the debt appears larger when counted in local currency.

“In Q2 2024, the debt stock grew in naira terms to N134.3 trillion ($91.3 billion) from N121.7 trillion ($91.5 billion) in Q1 2024, driven mainly by exchange rate devaluation. The dollar amount of debt was roughly the same,” the report said.

Nigeria’s debt is split between domestic and external loans. About 53% of the debt is local, meaning it is owed to creditors inside Nigeria. This local debt is worth N71.2 trillion. The other 47%, or N63.1 trillion, is foreign debt owed to other countries and international financial institutions.

The report also shows that the country’s debt-to-GDP ratio, which compares the total debt to the size of the economy, has risen above 50%.

October 24, 2024 0 comments
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Entertainment

VIDEO: “I have romantic feelings for President Tinubu, I wish to marry him” Hausa Lady Speaks

by Folarin Kehinde October 24, 2024
written by Folarin Kehinde

A young Hausa woman has professed her love for President Bola Tinubu, saying she has romantic feelings for the president.

In a widely circulating video, the young lady disclosed this on Amana TV and expressed her feelings to marry the president.

Watch video below:

The young woman disclosed on Amana TV revealed she has romantic feelings for President Tinubu and shared her wish to marry him. pic.twitter.com/6Fk7dpumDH

— CoreTV News (@coretvnewsng) October 24, 2024
October 24, 2024 0 comments
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Business

NNPCL Begins $6 Billion Debt Repayment Process, FG Reveals

by Folarin Kehinde October 24, 2024
written by Folarin Kehinde

The Nigerian National Petroleum Company Limited (NNPCL) has officially commenced the process of settling its $6 billion debt, according to a statement made by Wale Edun, the Minister of Finance and Coordinating Minister for the Economy.

This announcement was made during a meeting with investors in Washington, D.C., on Wednesday, October 23.

Edun addressed concerns about the NNPCL’s financial situation, which had become stressed due to its outstanding obligations to suppliers.

He explained that although the fuel subsidy was removed in May 2023, the company faced financial challenges due to foreign exchange costs.

“The reality is that although the subsidy was removed on May 29, 2023, and is no longer on the government’s balance sheet, it did rear its head—not in terms of petrol subsidy, but foreign exchange subsidy, which was borne elsewhere, mainly by NNPC,” Edun said.

The Minister confirmed that the NNPCL has started working on a clear path to pay off its debts.

“What I can say about their situation now is that they have a route to paying down their payables, and I’m sure that in no time, they will start. From what I understand, they have even commenced the process of paying down their payables,” he added.

NNPCL’s debt to its suppliers has been a growing concern, amounting to over $6 billion, as reported by various sources.

The company has previously admitted to facing financial strain in keeping up with the cost of maintaining supply amidst its mounting debts.

The Nigerian government’s announcement is expected to reassure both domestic and international investors about the company’s financial stability.

October 24, 2024 0 comments
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