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FG spends N1.243tn monthly as fuel subsidy hits N600/litre – Operators
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Local Stories
Immigration dismisses organ donor’s underage claim, Ebonyi, Dickson back Ekweremadu
The Nigeria Immigration Service has stated that it followed due process in issuing a Nigerian passport to Mr David Nwamini. He was allegedly trafficked to the United Kingdom for organ harvesting by former Deputy Senate President, Ike Ekweremadu. Read more…
Aregbesola, Oyetola’s camps say no reconciliation yet
On Sunday, the chairman of ‘The Osun Progressives,” a faction in the All Progressives Congress in Osun State, said no reconciliation between the Minister of Interior, Rauf Aregbesola; and the State Governor, Adegboyega Oyetola. Read more…
ASUU strike: Job market, dependency ratio worsen as youths remain idle
With the high level of unemployment and underemployment, prolonged strikes by the Academic Staff Union of Universities (ASUU) and its polytechnic counterpart, Academic Staff Union of Polytechnics (ASUP), have raised concerns about the country’s rising dependency ratio, as a majority of youths are becoming idle by the day. Read more…
Kwankwaso’s NNPP claims to have registered 2 million members in Borno State
New Nigerian People’s Party (NNPP), the party for which the former Governor of Kano State, Rabiu Musa Kwankwaso intends to run for President claims it has registered 2 million members in Borno State. Read more…
Zamfara directs citizens to carry guns
Worried by the persistent killing of innocent citizens by bandits across Zamfara State, Governor Bello Matawalle has directed every citizen to own a rifle for personal protection. Read more…
One dies, 10 injured on Abeokuta-Sagamu Expressway auto crash
The Federal Road Safety Corps has said that one person died while 10 others sustained injuries in an accident that occurred at Kobape on the Abeokuta-Sagamu Expressway on Sunday. Read more…
International Stories
The US to announce the purchase of medium- to long-range surface-to-air missile defence system for Ukraine
The US plans to announce as soon as this week that it has purchased an advanced, medium-to-long-range surface-to-air missile defence system for Ukraine. Read more…
Japan urges 37 million people to switch off lights
Japan's government has urged people in Tokyo and its surrounding area to use less electricity on Monday, as it warned that supplies will be strained as the country faces a heatwave. Read more…
Colombia: Scores injured in deadly bullfight stand collapse
At least four people have been killed and more than 300 were injured after a stand collapsed during a bullfight in central Colombia. Read more…
NASA launches first rocket from the Australian space centre
NASA has successfully launched a rocket from Australia's remote Northern Territory, making history as the agency's first commercial spaceport launch outside the United States. Read more…
Business Matters
FG’s borrowing from local investors rises 21% in H1’22
The Federal Government borrowed N4.2 trillion from local investors in the first half of the year (H1’22), representing a 21 per cent, year-on-year YoY, an increase from N3.89 trillion borrowed in the first half of 2021 (H1’21). Read more…
Rising price pushes Q1’22 gas revenue up 64.3% to N119.4bn
Propelled by increasing prices, Nigeria’s revenue from gas sales rose by 64.32 per cent in the first quarter of 2022 (Q1’22) to N119.4 billion compared to N72.64 billion recorded in the corresponding period last year. Read more…
FG spends N1.243tn monthly as fuel subsidy hits N600/litre – Operators
The amount spent as subsidy by the Federal Government on every litre of Premium Motor Spirit, popularly called petrol, consumed in Nigeria is currently above N600, oil sector operators stated on Sunday. Read more…
Telecom firms’ operating costs rise by N265bn – NCC
The operating costs of telecommunication companies in Nigeria rose from N1.4tn in 2020 to N1.66tn in 2021, showing an increase of N265.25bn. Read more…
Firm moves to reduce housing deficit in Lagos
A real estate development firm, Citi Buildings Real Estate Company, says it has made massive progress in the fulfilment of its vision to make the homeownership process smooth and flexible for every Nigerian. Read more…
Fuel shortage and inflation will weaken Nigeria’s economic growth – World Bank
The World Bank has said that fuel shortage and rising inflation will likely restrain economic growth in Nigeria. It said this in the June 2022 edition of its Global Economic Prospects report. Read more…
Altcoins gain 90% in the last 7 days
Bullish price action is returning back to the cryptocurrency market alongside the U.S. stock market as the 16.54% rally in Bitcoin, has seen the altcoin market post gains as high as 90% in the last seven days. Read more…
Tech Updates
Amazon Alexa will be able to mimic deceased loved ones' voices
The latest iteration of Amazon's Alexa voice assistant could sound eerily familiar. The company announced on Wednesday during its annual MARS conference, which focuses on artificial intelligence innovation, that it's working on an update to its Alexa system that would allow the technology to mimic any voice, even a deceased family member. Read more…
Metro
BET Awards: Tems wins 2022 Best International Act
Nigerian singer, Temilade Openiyi, popularly called Tems, has won the Best International Act at the BET Awards 2022. The 2022 award ceremony was held at the Microsoft Theater in Los Angeles. The BET Awards celebrate Black excellence in music, culture and sports. Read more…
Quote of the Day
“Gratitude is the healthiest of all human emotions. The more you express gratitude for what you have, the more likely you will have even more to express gratitude for.”
—Zig Ziglar