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Home > Archives for > Page 14
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Nelson Ugwuagbo

Nelson Ugwuagbo

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Headlines

FG Suspends Controversial 4% FOB Levy on Imports

by Nelson Ugwuagbo September 16, 2025
written by Nelson Ugwuagbo

The Federal Government has ordered the immediate suspension of the recently introduced Free On Board (FOB) levy on imported goods.

Finance Minister Wale Edun, in a directive issued late Monday, announced that the levy, introduced last month by the Nigeria Customs Service (NCS), would be put on hold following widespread concerns from businesses and trade stakeholders.

“Following extensive consultations with industry stakeholders, trade experts, and relevant government officials, it has become clear that the implementation of the 4% FOB charge poses significant challenges to Nigerian trade facilitation, the business environment, and economic stability,” Edun said in a statement.

The suspension comes after importers and business groups warned that the levy would raise the cost of goods, fuel inflation, and undermine Nigeria’s trade competitiveness.

They also argued that the additional charge would increase the cost of doing business and threaten the country’s fragile economic recovery efforts.

September 16, 2025 0 comments
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Emergency Rule
Headlines

Rivers Government Begins Events to Mark End of Emergency Rule

by Nelson Ugwuagbo September 16, 2025
written by Nelson Ugwuagbo

The Rivers State government has begun activities to mark the expiration of the six-month emergency rule imposed in the state.

President Bola Tinubu had on March 18 declared a state of emergency in Rivers following a prolonged political crisis. The declaration led to the suspension of Governor Siminalayi Fubara, his deputy, and members of the State House of Assembly.

With the initial six-month period set to elapse on Friday, September 18, there are strong indications that Governor Fubara and the lawmakers may soon be reinstated.

As part of the transition process, the state government will today, Tuesday, host a public lecture at the Government House in Port Harcourt. The lecture, themed “Democracy and Good Governance”, is expected to highlight lessons from the period of emergency rule.

According to a notice signed by the Secretary to the State Government, Ibibia Lucky Worika, the Administrator of Rivers State, Vice Admiral (Rtd.) Ibok-Ete Ekwe Ibas, CFR, will attend as Special Guest.

September 16, 2025 0 comments
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Sowere Vs DSS
Headlines

DSS Files Criminal Charge Against Omoyele Sowore For Facebook, X Posts Against Tinubu

by Nelson Ugwuagbo September 16, 2025
written by Nelson Ugwuagbo

The Department of State Services (DSS) has filed five criminal charges against activist and publisher Omoyele Sowore at the Federal High Court in Abuja, accusing him of defaming President Bola Tinubu.

The charges, filed on September 16, 2025, also list X Corp. and Meta, owners of X (formerly Twitter) and Facebook as co-defendants. According to the court documents, Sowore described President Tinubu as a “criminal” in several social media posts, while criticizing his claims of eliminating corruption.

No court date has been fixed for the matter.

Despite the charges and reported threats from the DSS, Sowore has refused to retract or delete the posts. He has maintained a defiant stance, insisting on his right to free expression.

September 16, 2025 0 comments
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Artificial Intelligence
Business

AI Hype Faces Harsh Reality as Study Shows 95% of Enterprise Projects Fail

by Nelson Ugwuagbo September 16, 2025
written by Nelson Ugwuagbo

Artificial intelligence (AI), once hailed as capitalism’s new golden goose, is increasingly showing signs of being more hype than substance. Generative AI was expected to revolutionize industries—writing emails, reinventing customer service, and even reshaping entire economies. But as 2026 approaches, the much-vaunted promise appears to be faltering.

A new study from the Massachusetts Institute of Technology (MIT) has revealed that 95% of enterprise AI pilot projects fail to deliver meaningful revenue impact. Despite the frenzy around adoption, only about 5% of corporate AI initiatives have shown measurable improvements to company earnings.

Analysts point out that Silicon Valley’s hype cycle moves faster than genuine product-market fit. Tech giants such as OpenAI, Google, and Anthropic release new models at breakneck speed, prompting companies to scramble for integration. Roadmaps are rewritten, budgets are shifted, and executives announce ambitious “AI pivots.” Yet in most cases, the results are underwhelming—busy dashboards with little effect on the bottom line.

Interestingly, firms that purchase specialized AI tools are finding greater success. According to the study, they are twice as likely to achieve positive results compared to businesses attempting to build their own systems. However, many CEOs remain committed to in-house development, leading to costly projects stuck in endless beta phases. By the time a system is functional, newer models from providers like ChatGPT have already rendered them outdated.

Another concern is how AI budgets are being spent. Instead of prioritizing areas with strong return on investment, such as back-office automation and operational streamlining, many companies are directing funds toward sales and marketing gimmicks—AI-written emails, pitch decks, and lead generators. While these may appear innovative, they often fail to generate significant financial returns.

The situation has revived a recurring question: is artificial intelligence a bubble? OpenAI CEO Sam Altman recently acknowledged that it is—but with a twist. He described it as “a bubble built around a kernel of truth.” This echoes the dot-com boom of the late 1990s and early 2000s, when billions were invested in internet startups. While many collapsed, the survivors—Amazon, Google, and eBay—emerged as global giants.

Today’s AI cycle bears striking similarities. Trillions of dollars are being poured into data centers and startups, and nearly every corporate strategy now touts AI integration. Yet, the gap between investor expectations and real-world adoption is widening, fueling the bubble dynamic.

OpenAI itself illustrates the challenge. Despite leading the AI revolution, the company is not yet profitable. Experts argue this is a warning sign that the industry, while transformative, is still struggling to find sustainable business models.

For now, the AI bubble has not burst. But as history has shown, stretched bubbles rarely deflate politely. The coming years will reveal whether AI can move beyond the hype to deliver on its revolutionary promise.

September 16, 2025 0 comments
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ADC
Headlines

ADC Guber Candidate Hails INEC for Recognising David Mark Led Party Leadership

by Nelson Ugwuagbo September 12, 2025
written by Nelson Ugwuagbo

The governorship candidate of the African Democratic Congress (ADC) in Anambra State, Mr. John Chuma Nwosu, has lauded the Independent National Electoral Commission (INEC) for regularising the David Mark-led National Working Committee (NWC) of the party.

Nwosu described INEC’s prompt recognition of the party’s leadership as a significant democratic gesture for Anambra voters, noting that it came at a time when the electorate is seeking a credible alternative.

He recalled that voters in the state were facing a political situation similar to 2003, when the Peoples Democratic Party (PDP) “grew wanton with impunity as the only platform.”

Dismissing claims that INEC was working to set up the ADC for judicial failure, Nwosu said conspiracy theories had no place in the exercise of democratic rights and responsibilities.

“There is no hidden agenda. ADC has come to stay; all necessary documentation has been completed, and the Commission has done what is required,” he said.

According to him, Anambra voters now have a credible option beyond “old, spoilt platforms that have taken the masses for a ride.”

Nwosu expressed optimism that the November 8 governorship election would give the people an opportunity to elect “a servant leader and not arrogant mischief makers and opportunists.”

He added that INEC’s decision would compel political parties in the state to focus their campaigns on issues that matter to the people.

September 12, 2025 0 comments
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INEC
Headlines

INEC Shortlists 14 Associations for Political Party Registration

by Nelson Ugwuagbo September 12, 2025
written by Nelson Ugwuagbo

The Independent National Electoral Commission (INEC) has shortlisted 14 associations from 171 applicants seeking registration as political parties.

The development was disclosed in a statement on Thursday, September 11, 2025, by the National Commissioner and Chairman of INEC’s Information and Voter Education Committee, Sam Olumekun.

Olumekun explained that the decision followed the Commission’s meeting where it reviewed preparations for upcoming off-cycle governorship elections, the end-of-tenure Area Council election in the Federal Capital Territory, and considered reports on fresh applications for party registration.

According to INEC, the 14 successful groups met the preliminary requirements stipulated in Section 222 of the 1999 Constitution (as amended), Section 79 of the Electoral Act 2022, as well as the Commission’s Regulations and Guidelines for Political Parties 2022.

The remaining 157 applications were rejected for failing to meet the threshold. INEC said the affected groups will be formally notified within 24 hours.

The names of the shortlisted associations have been published on the Commission’s website and other official platforms. Their interim chairmen and secretaries are expected to attend a briefing at INEC headquarters in Abuja on Wednesday, September 17, 2025.

INEC added that it will conduct physical verification of all claims made by the shortlisted groups before taking a final decision on their registration.

September 12, 2025 0 comments
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Senator Natasha
Headlines

PDP Slams Akpabio, APC Over Move to Block Natasha Akpoti-Uduaghan’s Return to Senate

by Nelson Ugwuagbo September 10, 2025
written by Nelson Ugwuagbo

The Peoples Democratic Party (PDP) has criticised Senate President Godswill Akpabio and the leadership of the All Progressives Congress (APC)-controlled Senate over alleged plans to prevent Senator Natasha Akpoti-Uduaghan (PDP, Kogi Central) from resuming her seat after completing a six-month suspension.

The Senate is scheduled to reconvene from its two-month recess on September 23.

Senator Akpoti-Uduaghan, who was suspended on March 6, had on September 4 written to the National Assembly leadership notifying them of her intention to resume.

However, in a reply signed by the Acting Clerk to the National Assembly, Dr. Yahaya Danzaria, she was informed that her suspension remained in force and was tied to a pending case at the Court of Appeal.

Reacting on Tuesday, the PDP accused Akpabio and the Senate leadership of deliberately plotting to silence the people of Kogi Central senatorial district and weaken the opposition in the upper chamber.

The party described the move as undemocratic and urged the Senate to allow Akpoti-Uduaghan resume her legislative duties without further delay.

September 10, 2025 0 comments
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National Grid
Headlines

JUST IN: National Grid Collapses

by Nelson Ugwuagbo September 10, 2025
written by Nelson Ugwuagbo

The Nigerian national electricity grid has collapsed on Wednesday, causing power generation to plummet from 2,917.83 megawatts (MW) to just 1.5 MW between 11 a.m. and 12 p.m.

Following the incident, Nigeria National Grid, an X handle that tracks electricity distribution, confirmed the development, stating that “system restoration is in progress.”

In a subsequent update, the account revealed that load allocations to all Distribution Companies (DisCos) across the country had dropped to zero, with the exception of Ibadan DisCo.

“Disco load” refers to the volume of electricity (in megawatts) allocated to each power distribution company from the national grid.

As of the time of filing this report, none of the DisCos had issued official statements on the collapse.

September 10, 2025 0 comments
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Headlines

Resident Doctors to Begin Nationwide Strike Thursday

by Nelson Ugwuagbo September 10, 2025
written by Nelson Ugwuagbo

The National Association of Resident Doctors (NARD) has announced plans to commence a nationwide strike on Thursday over poor working conditions and other unresolved issues.

President of the association, Dr. Osundara Zenith, disclosed this in an interview with journalists on Wednesday, noting that the decision would be ratified at a National Executive Council meeting.

He said the action became necessary after the expiration of a 10-day ultimatum issued to the Federal Government, which he claimed was ignored.

“The reasons are because of the poor working conditions of our members, the shortage of manpower, the downgrading of certificates, the non-payment of salary arrears and allowances, and the issue of the Medical Residency Training Fund (MRTF) for over 2,000 resident doctors across the country,” Zenith explained.

The NARD president added that the strike is also in solidarity with resident doctors in Abuja and Oyo State, who are already on strike over similar grievances.

He called on both the Federal Government and affected state governments to urgently address the demands to avert a complete shutdown of public hospitals nationwide.

September 10, 2025 0 comments
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Dangote Trucks
Headlines

FG’s Peace Meeting Between NUPENG, Dangote Ends in Deadlock

by Nelson Ugwuagbo September 9, 2025
written by Nelson Ugwuagbo

Efforts by the Federal Government to avert the looming strike by the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) hit a brick wall on Monday, as a closed-door conciliatory meeting with the Dangote Group ended in deadlock.

The meeting, convened by the Minister of Labour and Employment, Mohammed Dingyadi, alongside the Minister of State, Nkiruka Onyejeocha, was aimed at resolving the industrial dispute triggered by alleged attempts by the Dangote Refinery to bar its compressed natural gas (CNG) tanker drivers from joining labour unions.

In attendance were national executives of NUPENG, representatives of the Nigeria Labour Congress (NLC), and the Trade Union Congress (TUC).

NUPENG had last week announced plans to withdraw its members from work starting Monday, September 8, in protest against the alleged anti-union practices. Although the Petroleum Tanker Drivers (PTD) and the Direct Trucking Company Drivers Association (DTCDA) distanced themselves from the action, the union on Sunday reaffirmed its readiness to proceed with the strike.

Alarmed by the potential impact on the economy, the Federal Government had earlier appealed to NUPENG to shelve the action and allow dialogue to continue. Dingyadi, in a statement issued through the ministry’s spokesperson, Patience Onuobia, urged the union to reconsider its decision, warning that even a day’s disruption in the petroleum sector could result in huge revenue losses and hardship for Nigerians.

“The petroleum sector is very important to this country. It constitutes the core of the economy. A strike, even for just a day, will have an adverse impact, leading to heavy revenue losses running into billions of naira and causing untold hardship for Nigerians,” the minister said.

He also appealed to the NLC to withdraw its red alert to affiliate unions to prepare for solidarity action, stressing that the matter would be resolved amicably.

Despite the government’s intervention, Monday’s conciliation talks ended without an agreement, leaving the threat of a nationwide disruption in the petroleum sector unresolved.

September 9, 2025 0 comments
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