Author: Opalim Lifted

Taiwo Oyedele speaking at the African Emerging Markets Forum in Abuja, urging global investors to invest in Nigeria's growing economy.

The Federal Government says it is working with oil marketers and regulators to ensure that declines in global crude oil prices are reflected more transparently in the pump price of petrol across Nigeria. Speaking to journalists after Monday’s Federal Executive Council (FEC) meeting chaired by President Bola Tinubu, Taiwo Oyedele, minister of finance and coordinating minister of the economy, said the government is seeking a balance between protecting consumers and ensuring downstream operators remain commercially viable. According to Oyedele, marketers often increase pump prices quickly when crude oil prices rise because of replacement costs, but are slower to reduce prices…

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EFCC arraignment of Mahmud Abubakar over alleged N1.09bn proceeds of crime at an Abuja court

The Economic and Financial Crimes Commission (EFCC) has filed money laundering charges against Ahmed Dikko and Jimoh Yisawu, former managing directors of the Port Harcourt Refining Company (PHRC) and Warri Refining and Petrochemical Company (WRPC), over the alleged diversion of funds released for the rehabilitation of Nigeria’s refineries. According to a report by Premium Times, the anti-graft agency filed separate charges against the two former refinery chiefs at the High Court of the Federal Capital Territory (FCT) in Abuja on June 22. Dikko is facing a 12-count charge, while Yisawu is facing an eight-count charge bordering on alleged money laundering,…

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South Africa summons US Ambassador Brent Bozell

South African President Cyril Ramaphosa has appealed for calm ahead of planned nationwide anti-immigrant protests, warning that anyone engaging in violence or criminal acts will face the full weight of the law. The demonstrations, scheduled for Tuesday, are being organised by anti-immigrant groups demanding the removal of undocumented migrants from the country. In a statement issued on Monday, Ramaphosa stressed that while South Africa’s Constitution guarantees the right to peaceful protest, that right does not extend to violence or intimidation. His appeal comes amid a resurgence of xenophobic tensions that have seen several protests turn violent in recent months. Organisers…

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Troops arrest suspected ISWAP spy over planned attack on Borno military bases

Troops of Operation Hadin Kai have arrested a suspected operative of the Islamic State West Africa Province (ISWAP) over an alleged plan to attack two military formations in Borno State. The suspect, identified as Muhammad Shuaibu, was apprehended by troops of the 212 Battalion at the Forward Operating Base (FOB) Chabbol after intelligence reports indicated an imminent terrorist attack. According to Zagazola Makama, a counter-insurgency publication covering the Lake Chad region, Shuaibu was arrested during a routine perimeter patrol about 500 metres from the anti-vehicle ditch protecting the military base. The report, quoting military sources, said the operation was carried…

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IMF warns Nigeria against restoring petrol subsidy

The Federal Competition and Consumer Protection Commission (FCCPC) has called on petroleum marketers to reduce the retail price of Premium Motor Spirit (PMS), saying Nigerian consumers should benefit from the recent decline in global crude oil prices. In a statement, the commission said its monitoring of the downstream petroleum sector showed that recent reductions in petrol prices by refiners, depot operators and marketers have not matched the sharp drop in international crude oil prices. According to the FCCPC, global crude oil prices have fallen to about 73 dollars per barrel following the ceasefire between the United States and Iran and…

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Resident doctors to begin nationwide strike August 10 over unmet demands

The Nigerian Association of Resident Doctors (NARD) has extended its strike deadline by four weeks, warning that it could begin a nationwide industrial action if the Federal Government fails to address its outstanding demands. The decision was reached during the association’s Extraordinary National Executive Council (E-NEC) meeting, held virtually on Saturday to review developments following the expiration of its earlier 21-day ultimatum. In a communiqué issued on Sunday and signed by NARD President, Dr. Mohammad Usman Suleiman, Secretary-General Dr. Shuaibu Ibrahim, and Publicity and Social Secretary Dr. Abdulmajid Yahya Ibrahim, the association declared an industrial dispute with the Federal Government.…

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Canada's Stephen Eustaquio (7) scores their opening goal past South Africa goalkeeper Ronwen Williams (1) during the World Cup round of 32

Stephen Eustaquio scored a dramatic winner in the second minute of injury time as co-hosts Canada defeated South Africa to move into the last 16 of the World Cup for the first time. In a scrappy game short of clear-cut chances, and with extra time looming, Eustaquio provided a rare moment of quality with a superb low strike from the edge of the penalty area to give Canada the victory. Canada had lost all six of their World Cup matches before this tournament, but this victory continued a superb competition for them. They defeated Qatar 6-0 on 18 June for…

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Saudi Aramco shuts down oil refinery after Iran drone attack

A helicopter operated by Saudi state oil giant Aramco crashed in eastern Saudi Arabia on Sunday, killing all 14 people on board, according to the country’s official press agency. The Saudi Press Agency, citing an official from the energy ministry, said the helicopter went down in Ras Tanura, a key hub for the kingdom’s oil industry. “The accident claimed the lives of all 14 passengers, all Saudi citizens,” the agency said, adding that an investigation has been launched to determine the cause of the crash. Aramco operates one of the largest corporate aviation fleets in the Middle East, with more…

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Several injured after lightning strike at Swedish amusement park

Several people, including a woman who suffered serious injuries, were hurt after lightning struck a tree at an amusement park in southern Sweden on Sunday. The incident happened at Tosselilla Sommarland, where severe thunderstorms swept across the area. In a statement posted on Facebook, the amusement park said the storm caused multiple lightning strikes in the vicinity. “Today we had a severe thunderstorm over Tosselilla, which led to several lightning strikes directly in the area. This has resulted in a few people being injured,” the park said. The park initially reported that none of the injuries were serious. However, regional…

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Buildings in Kabul after a 6.1-magnitude earthquake struck northeastern Afghanistan, with tremors felt across several provinces and parts of Pakistan.

A powerful 6.1-magnitude earthquake struck northeastern Afghanistan on Saturday, sending strong tremors through the capital, Kabul, and neighbouring Pakistan, according to the United States Geological Survey (USGS). The quake’s epicentre was located in northeastern Afghanistan at a depth of 208.3 kilometres, making it widely felt across several regions despite its deep origin. Journalists in Kabul reported buildings shaking, with one describing a large crack appearing across an internal wall. The tremor was also felt in the Afghan provinces of Balkh, Badakhshan, Nangarhar and Khost, as well as in Pakistan’s capital, Islamabad. There were no immediate reports of casualties or significant…

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