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Ali Ndume, the federal lawmaker representing Borno South Senatorial District in the National Assembly (NASS), has stated that the tax reform bills sent by President Bola Tinubu are “dead on arrival.”
Ndume explained, “Our people are saying they don’t want the VAT bill, they don’t even want to hear about it. That is why we are going to make it dead on arrival,” urging President Tinubu to heed the advice of the National Economic Council (NEC) and the Northern Governors’ Forum and withdraw the bills immediately.
The lawmaker who made the remarks on Channels Television’s Politics Today programme argued that the Federal Government should be looking to reduce, rather than increase, the tax burden on Nigerians.
His words, “The general sentiment is that Nigerians are not willing to talk about or pay any tax now, considering the economic situation we are in.
“Nigerians are willing to pay taxes but only when they can afford it. Right now, people are struggling to survive. Let people live first before you start asking them for taxes.”
“It will be fair to shut the bill down; it is the fairest thing to do,” indicating that he has started rallying support among colleagues to reject the bills.”
Ndume, a member of the President’s party, the All Progressives Congress (APC), also commented that the Tinubu administration should focus on reforming itself rather than increasing taxes.
“What he [Tinubu] needs to do is to withdraw the bill, educate Nigerians, and make us understand it. We are representing the people, and they have already made their stance clear,” he said.
“The governors and traditional rulers have said that the bill is not good. So, the best course of action is to withdraw it immediately. Right now, our people don’t want the VAT bill; they don’t even want to hear about it. That is why we are going to make it dead on arrival.”
The tax reform bills, currently in the National Assembly, have faced substantial criticism, with the 36 state governors urging the President to withdraw them.
However, the President has stated the bills will not be withdrawn, though he is open to “inputs and necessary changes” from lawmakers.
Republicans wrested control of the United States Senate from the Democrats, US media projected early Wednesday, ending four years in the minority and marking a significant boost for the party in its quest to dominate all branches of government.
The victory positions Republicans to strongly support the incoming president in enacting their agenda and appointing justices to the US Supreme Court if Donald Trump prevails — but could lead to legislative deadlock if his Democratic rival, Kamala Harris, wins.
The US Capitol comprises the House of Representatives — where all 435 seats are contested — and a 100-member Senate, with 34 seats at stake this year. Congressional elections run alongside the presidential race.
The sitting Republican Governor of West Virginia, Jim Justice, pleased his party by winning the Senate race to replace retiring independent Joe Manchin, who had voted with the Democrats.
Ohio shifted to Republican control after long-serving Democratic Senator Sherrod Brown was defeated by Bernie Moreno, a Trump-endorsed businessman and son of a former senior Colombian government official.
Fox News and ABC called the race for control of the Senate after Republican Senator Deb Fischer fended off an unexpectedly strong challenge from an independent candidate in Nebraska.
“I look forward to working with President Trump and our new conservative majority to make America great again by making the Senate work again,” said Texas Senator John Cornyn, a contender to lead the Republican majority from January.
The wins by Justice and Moreno reversed the Democrats’ 51-49 Senate advantage, with Republicans now aiming to increase their lead with potential gains in Montana, Wisconsin, and Pennsylvania.
– Huge power –
Democrats had hoped to offset losses with potential gains in Texas and Florida but conceded both as incumbent Republicans secured comfortable victories.
If Republicans win all remaining contested seats, they would hold 55 of the 100 Senate seats, giving them substantial influence to advance Trump’s domestic agenda and judicial appointments, should he defeat Harris.
For the first time in history, two Black women will serve simultaneously in the US Senate, following victories by Democrats Angela Alsobrooks and Lisa Blunt Rochester in Maryland and Delaware, respectively. Only three Black women, including Harris, have previously served in the Senate.
Nonpartisan finance monitor OpenSecrets reports that over $10 billion has been spent on congressional candidates this cycle — slightly less than in 2020 but almost twice as much as the $5.5 billion spent on the 2024 White House race.
While the Senate approves treaties and certain presidential appointments, all revenue-raising bills must start in the House, where the majority outcome could take days to finalise.
Although currently in the minority, Democrats see a more achievable path to gaining control of the lower chamber, needing only to flip four seats.
In another historic milestone, Sarah McBride will become the first openly transgender politician elected to Congress after defeating Republican John Whalen III for a House seat representing Delaware.
[TheNation]
Republicans seized control of the U.S. Senate late Tuesday, flipping key Democratic-held seats and securing a majority for the first time in four years. The pivotal moment came in Nebraska, where incumbent GOP Senator Deb Fischer narrowly defeated independent challenger Dan Osborn. This victory, along with other gains in West Virginia and Ohio, allowed Republicans to edge past the Democrats.
In West Virginia, GOP Governor Jim Justice won the Senate seat vacated by retiring Democrat Joe Manchin. In Ohio, Democrat Sherrod Brown lost to wealthy Republican newcomer Bernie Moreno. The Democrats’ efforts to unseat high-profile Republicans like Ted Cruz of Texas and Rick Scott of Florida failed.
Despite the setbacks, attention now turns to the Democratic strongholds of Pennsylvania, Michigan, and Wisconsin, where key Senate races could determine whether Republicans sweep the chamber.
This shift in Senate power marks a turning point in the political landscape, with the GOP’s Mitch McConnell stepping down from leadership. Meanwhile, debates over the party’s leadership and direction loom, with South Dakota Senator John Thune and Texas Senator John Cornyn emerging as potential successors.
The election results are shaping the future of U.S. governance, with Congress poised to influence presidential agendas, particularly with the backdrop of the upcoming presidential race between Donald Trump and Kamala Harris.
The dollar surged and Bitcoin hit a record high on Wednesday as traders bet on a victory for Donald Trump, with the ex-president securing key swing states necessary to take the White House. This boosted expectations for fresh tax cuts, tariffs, and rising inflation.
While polls had shown the race on a knife-edge, the Republican candidate appeared to be faring better than his Democratic opponent, Vice President Kamala Harris, as results rolled in.
Both candidates had secured expected wins in safe states, but indications that the business tycoon was edging ahead boosted the so-called Trump Trade.
Although many key swing states were still too close to call, Trump won Georgia and North Carolina, with others still undecided.
News that the former president’s party had taken control of the Senate further boosted prospects for sweeping tax cuts, additional tariffs, and deregulation—seen as favourable for the greenback.
The dollar jumped by 1.5 per cent to 154.33 yen, its highest since July. It also rose by more than one per cent against the euro and by more than three per cent against the Mexican peso.
Bitcoin surged nearly $6,000, hitting a record $75,330.88, surpassing its previous peak of $73,797.98 in March.
Trump has pledged to make the United States the “Bitcoin and cryptocurrency capital of the world” and to appoint tech billionaire Elon Musk to lead a wide-ranging audit of governmental waste.
“The price of Bitcoin has closely followed Trump’s position in the polls and on betting markets,” said analyst Russ Mould from AJ Bell ahead of Tuesday’s US election.
Investors are “potentially taking the view that a Republican victory would lead to a surge in demand for the digital currency,” he added.
Analysts stated that a clean sweep of Congress and the White House by Trump and the Republicans would likely boost the dollar and treasury yields, due to his plans to cut taxes and impose tariffs on imports.
Republican control of the Senate and House “could bring sweeping spending or tax policy shifts. However, congressional gridlock could suppress volatility,” said Stephen Innes of SPI Asset Management.
Economist and Esho Capital founder Peter Esho noted, “The markets are scrambling to figure out what happens next, but for the time being, the market is pricing in a higher growth and higher inflation outlook.”
Such an outcome could pose a headache for Federal Reserve chair Jerome Powell, who is still battling to bring inflation under control, with Trump’s plans considered inflationary.
The election coincides with the central bank’s latest policy decision, expected on Thursday, amid speculation it will cut interest rates by 25 basis points, following a 50-point reduction in September.
The dollar’s surge against the yen lifted stocks more than three per cent in Tokyo at one point, thanks to gains in exporters, while markets in Shanghai, Sydney, Singapore, Taipei, Mumbai, and Bangkok also rose.
However, there were losses in Seoul, Wellington, Manila, and Jakarta.
Hong Kong saw a steep decline, diving nearly two per cent at one point, due to concerns about the impact of a Trump presidency on China’s economy and the relations between Beijing and Washington.
Traders had received a strong lead from Wall Street, where all three main indices climbed by more than one per cent.
While the result of the election is being closely watched globally, it is of particular interest in China, after Trump vowed to escalate the trade battle with the economic giant by imposing massive tariffs on Chinese goods.
The vote comes as Chinese leaders hold a key meeting to discuss a package of stimulus measures aimed at kick-starting growth and supporting the struggling property sector, which is facing a painful debt crisis.
– Key figures around 0620 GMT –
Dollar/yen: UP at 153.85 yen from 151.60 yen on Tuesday
Euro/dollar: DOWN at $1.0746 from $1.0930
Pound/dollar: DOWN at $1.2884 from $1.3035
Euro/pound: DOWN at 83.41 from 83.82 pence
Tokyo – Nikkei 225: UP 2.4 per cent at 39,405.19 (close)
Hong Kong – Hang Seng Index: DOWN 2.0 per cent at 20,585.45
Shanghai – Composite: UP 0.4 per cent at 3,400.69
West Texas Intermediate: DOWN 1.8 per cent at $70.73 per barrel
Brent North Sea Crude: DOWN 1.8 per cent at $74.19 per barrel
New York – Dow: UP 1.0 per cent at 42,221.88 (close)
London – FTSE 100: DOWN 0.1 per cent at 8,172.39 (close)
AFP
On October 31, the federal government launched an amnesty initiative to allow individuals to deposit foreign currencies into banks without penalties or taxes — provided the funds are not proceeds of crime.
The programme is called the ‘Disclosure Scheme’, according to the ministry of finance.
In a statement, the ministry said the scheme would span nine months and is designed to enhance transparency in the financial sector and boost Nigeria’s economic resilience, growth, and development.
Wale Edun, minister of finance and coordinating minister of the economy, said the initiative would enhance financial security and contribute positively to the economy by increasing reserves and stabilising exchange rates.
TheCable highlights the major things to know about the new policy.
WHO CAN PARTICIPATE IN THE SCHEME?
To participate in the scheme, the federal government said all Nigerians holding legitimately earned internationally tradable foreign currency are eligible.
The finance ministry also said participation is voluntary and candidates must own domiciliary accounts.
“The scheme is based on voluntary disclosure by eligible participants,” the statement reads.
“Participants are required to maintain a domiciliary account with participating financial institutions, with deposited or repatriated funds held in a sub-account specifically designated for depositing foreign currency disclosed under the Scheme.”
WHICH FINANCIAL INSTITUTIONS ARE INVOLVED?
According to the ministry of finance, all deposit money banks (DMBs) regulated by the CBN will act as participating financial institutions. The banks will be responsible for processing applications, maintaining designated accounts, and ensuring compliance with the scheme’s guidelines.
The participating financial institutions are also expected to comply with Nigeria’s anti-money laundering measures.
“In implementing the Scheme, participating financial Institutions must fully comply with existing anti-money laundering (AML)/ countering the financing of terrorism (CFT)/ counter-proliferation Financing (CPF) requirements,” the ministry said.
“For the avoidance of doubt, the effective application of AML/CFT/CPF preventative measures is key to ensuring that the scheme is not used for money laundering or terrorism financing.”
FG’S COMMITMENTS, ASSURANCES
The federal government pledged that individuals participating in the scheme will get access to protection, “tax incentives and unrestricted repatriation”.
Specifically, participants will not be subjected to any tax audit, investigation, or liability regarding the disclosed amount of foreign currency.
The government also promised that “disclosed, deposited, repatriated, and invested foreign currency under the scheme” shall not be liable to any form of expropriation, seizure, or forfeiture.
“Participants can freely repatriate their foreign currency and any proceeds or accretions at the prevailing exchange rate, subject to the scheme’s guidelines,” the finance ministry said.
“Information provided by participants will be treated with utmost confidentiality in accordance with relevant laws.”
HOW TO APPLY FOR THE SCHEME
To participate in the disclosure scheme, the individual must maintain or open a domiciliary account with a participating financial institution.
Also, participants must complete an application form prescribed by the Central Bank of Nigeria (CBN) through the participating financial institution, providing the required details and undertakings.
After providing the necessary requirements, the participant can deposit or repatriate the disclosed foreign currency into the designated domiciliary account.
The ministry of finance encouraged individuals to contact their banks for additional details as the process may vary.
Members of the Congress of University Academics, CONUA, have called on the Federal Government to pay their withheld three and a half months salaries, third party deductions and Earned Academic Allowances.
The congress, in a statement by the National President, Dr Niyi Sunmonu, also said the promotion arrears of some members had lingered for over seven years and should be looked into.
The body also frowned on the exclusion of its members from the committee that would renegotiate the 2009 agreement university workers entered into with the government.
It said: “The union wishes to once again call the attention of President Bola Tinubu to the continued withholding of the three and a half months salary due to the strike embarked upon by a sister academic staff union in the universities.
“CONUA, as a union, has consistently maintained that it never declared and was not part of the strike. What the government had done was to lump together those who embarked on strike with those who did not!
“This is unjust, and it is tantamount to punishing the innocent along with the guilty. The federal government’s action actually goes against the judgment delivered on July 25, 2023 at the National Industrial Court of Nigeria, NICN, which affirmed CONUA as an independent union.
“The President should note that withholding the three and a half months salaries of members of CONUA who neither declared nor participated in any strike, also contravenes Section 43 (1b) of the Trade Disputes Act CAP. T8, which states that ‘where any employer locks out his workers, the workers shall be entitled to wages and any other applicable remuneration for the period of the lock-out and the period of the lock-out shall not prejudicially affect any rights of the workers, being rights dependent on the continuity of period of employment.’’
CONUA also noted that invitation was not extended to it when the renegotiation committee was constituted on Tuesday, October 15, 2024.
It stated further: ‘’The union has submitted protest letters to the minister of education and chairman of the eenegotiation committee, Alhaji Yayale Mahmud Ahmed, while all relevant government agencies such as the Senate president, speaker of the House of Representatives, Secretary to the Government of the Federation, SGF, the Chief of Staff, the Attorney General of the Federation and minister of justice, etc, have been copied.
‘’CONUA is, therefore, using this medium to demand for its inclusion in the renegotiation committee, without further delay, as failure to do this will amount to shaving the head of its members in their absence.
“It was discovered that when the payment of the four months (March, April, May and June 2022) salaries out of the seven and a half months of salaries withheld by the government as a result of the strike embarked upon by ASUU was paid, through the presidential prerogative, the third-party deductions for April, May and June 2022 were not released, and they have not been released up till now.”
‘’Information on its whereabouts and when it would be released has not been provided by the federal government. The union is demanding, unequivocally, that the agencies of government involved be directed to immediately release these third-party remittances without further delay.
“Very many academic staff have promotion arrears spanning a period of up to seven years, in some cases. The delay in promotion, in most cases, is not the fault of these concerned academics and it will amount to double jeopardy if, having delayed their promotion, they are also made to suffer untold hardship with the delay in paying the promotion arrears.
‘’This dispiriting state of affairs should be addressed expeditiously to enhance the diligence of the many academics affected by the counter-productive delay in the payment of promotion arrears.
“The federal government agreed to pay the Earned Academic Allowance, EAA, for excess work done by academics in federal universities since the universities are battling with shortage of manpower. This EAA payment was supposed to cover academic sessions from 2008/2009 (Rain Semester) onwards. ‘’The federal government has so far released four tranches of EAA in 2013, 2017, 2021 and 2022. These releases did not cover up to four sessions completely, let alone the entire fourteen and a half (14½) sessions for which the payment is required.
‘’The union is using this medium to demand for the release of the EAA to cover these aforementioned periods and accelerate the optimal employment of more academic.”
On the minimum age for admission into higher institutions, the union advised that it should not start next year, but noted that the policy should be run through all stakeholders connected to education for their inputs before implementation, with a view to strengthening the existing 6-3-3-4 system.
[Vanguard]
The Lagos State Traffic Management Authority (LASTMA) says a commercial bus driver set ablaze one of its officers while resisting arrest over a violation of traffic regulations.
Adebayo Taofiq, the LASTMA director of public affairs, said the commercial driver and his conductor “brutally attacked” the officer while discharging official duties.
“LASTMA has been made aware of a distressing video showing the driver of a Volkswagen T4 commercial bus, license plate LSD 355 CK, setting both his vehicle and LASTMA officer ablaze in a brazen attempt to evade arrest,” NAN quoted Taofiq to have said.
“This shocking event transpired today (Tuesday), Nov. 5, when the driver resisted arrest with extreme aggression by LASTMA officials.
“The vehicle had been intercepted for violating traffic regulations in the Cele inward Mile 2 area.”
Taofiq said the bus driver and conductor violently resisted arrest, physically assaulted a LASTMA officer, and then doused him with petrol.
He added that the severely burnt LASTMA officer was rushed to a nearby hospital for urgent medical treatment.
The spokesperson implored commercial and private drivers to fully comply with traffic laws and show respect to LASTMA officials’ authority.
“LASTMA will not condone any form of violence or intimidation and will take firm and decisive action against those responsible,” he added.
Seventeen persons, including a commercial bus driver and two conductors, have reportedly died in a road accident in Imo state.
Witnesses said the accident happened on Tuesday after a tipper ran into an 18-seater commercial bus along Orlu road in Owerri, the state capital.
A witness told TheCable that the tipper driver was trying to avoid a pothole when he veered off his lane and collided with the bus, leading to the death of everyone on board.
The tipper driver reportedly sustained severe injuries and was unconscious.
A resident said some bodies of the victims were trapped under the damaged vehicles, while others were recovered and deposited in a morgue.
Okoye Henry, police spokesperson in Imo, was not immediately available for comment when contacted by TheCable for more information on the accident.
In May, about 15 people died and many others were injured after a truck crashed into four buses at the Imo State University (IMSU) junction in Owerri.
Witnesses said the truck collided with vehicles coming in the opposite direction due to a brake failure in the Ugwu-Orji area.
The Ministers of Agriculture and Food Security, Abubakar Kyari, his Science, Technology, and Innovation counterpart, Uche Nnaji, and Budget and Economic Planning, Atiku Bagudu, are some of the high-profile government functionaries expected to appear before the House of Representatives Committee on Renewable Energy on Wednesday.
The Committee, chaired by the member representing Ogbaru Federal Constituency, Anambra State, Afam Ogene is investigating the utilisation of over $2bn investment and grants for the development of renewable energy sources in Nigeria from 2015 till date.
The committee argued last week that despite the huge grants and investment in the sector, the power supply in the country has continued to worsen.
Scheduled for Tuesday and Wednesday, 5 and 6 November 2024, the investigative hearing follows the mandate given to the Committee on June 6, 2024, to investigate Ministries, Departments, and Agencies involved in investments, procurement, and receipt of grants for renewable energy sector development.
At the commencement of the investigative hearing on Tuesday, none of the ministers showed up, preferring to send representatives, most of whom were asked to return to their various offices.
Expressing his disappointment at the turnout, Ogene urged the concerned ministers and other government officials to appear before the Committee unfailingly on Wednesday.
The Labour Party lawmaker reminded representatives of invited government officials that the power to summon public officers for investigation is vested in both chambers of the National Assembly.
He said, “Let me state this again: Section 81 (1) of the Constitution of the Federal Republic of Nigeria (As amended) provides that ‘Each House of the National Assembly shall have power by resolution published in its journal or in the official Gazette of the Government of the Federation to direct an investigation into any matter or thing with respect to which it has the power to make laws.”
He added that this power includes probing into “the conduct of affairs of any person, authority, Ministry or government department charged, or intended to be charged, with the duty of or responsibility for executing or administering monies appropriated or to be appropriated by the National Assembly.”
At the commencement of the hearing, Ogene called on the Budget and Economic Planning to appear before the committee to make his presentation. However, a director in the ministry, Felix Okonkwo, appeared on behalf of the minister.
Asked if he had the mandate of the minister to speak, Okonkwo said, “I can take some responsibilities but not all.”
Not pleased with the remark, Ogene urged him to go back and inform his principal to physically appear on Wednesday.
“Tell your minister to appear before this committee on Wednesday. It is not meant to witch-hunt anybody. A situation where invitations are sent about three times to heads of MDAs and they would still not appear to make their presentations is not acceptable,” he said.
The story was no different when Deputy Director of the Ministry of Science and Technology, Suleiman Abubakar, stood in for the minister.
Asked if he was delegated to speak for the minister, Suleiman said his directorate mandated him to attend the investigative hearing.
Ruling on the development, Ogene said, “You have no locus to stand in for the Minister. He should appear in person on Wednesday. We wrote to the Minister, not a directorate.”
Also expected at the investigative hearing on Wednesday are the Minister of Petroleum Resources (Gas), Ekperikpe Ekpo, Office of the Accountant General of the Federation, Union Bank of Nigeria, Niger Delta Power Holding Company and Union Bank of Nigeria Plc.
The Vice President of Nigeria, Kashim Shettima, on Tuesday disclosed that President Bola Tinubu ordered the release of the minors facing trial for treason on compassionate grounds.
According to Shettima, there are video and photographic evidence of some of the protesters which were uploaded by the actors themselves.
He lamented that the nation lost over N300 billion from the destruction and halting of economic activities orchestrated by the protesters.
Shettima made this claim while receiving the minors at the Presidential Villa, shortly after their charges were dropped by the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi.
Shettima said, “The President and Commander in Chief of the Armed Forces of the Federal Republic of Nigeria, Bola Ahmed Tinubu, instructed the release of the suspect on humanitarian grounds, despite incontrovertible digital video and photographic evidence of the perpetration and actions some of which were uploaded by the actors themselves.
“Regarding this evidence, the President as the father of the nation is giving these young men another chance at becoming responsible citizens who will make a positive impact, in a drive for a better Nigeria.
“I would like to admonish you, young men not to allow yourselves to be used to perpetrate violence and destroy public and private property because over N300 billion was lost in the protests, consisting mainly of private property and loss of business.
“I will urge you, I will advise you, you are our children, to use the opportunity of the President’s magnanimous gesture in ensuring that you overcome and become responsible citizens who will contribute to the growth of the society.
“I will urge our governors and our elected representatives here, that cuts across the political divide, what binds us together as citizens of the Federal Republic of Nigeria supersedes whatever divides us.
“I will call on our two governors and our representatives into a single cause, and ensure that these subjects are rehabilitated and reintegrated into the fabric of our communities.”
More...
A new terror group, operating in Sokoto State, reportedly pays youths ₦1 million to join in their destructive operation.
The Chairman of Tangaza Local Government Area, Alhaji Isa Salihu Kalenjeni, who disclosed this, said the foreign-based armed religious group occupies five local governments in the state.
Speaking at the reception of Course 33 of the National Defence College, Abuja, who were on a study tour in the state, on Monday, he explained that the group locally known as Lakuwarawa migrated from Libya, Mali and Niger Republic and camped at Tsauni forest.
According to Daily Trust, Kalenjeni also said the Lakuwarawa has “launched one of the deadliest attacks in the area that resulted in the killing of four soldiers on patrol along Gudu road recently.
“They are forcing people to pay Zakkat and at the same time robbing people of their belongings. Just recently, they robbed a shop owner of ₦2 million. They also seized his car and released it after he paid ₦350,000.”
The Tangaza Council Chairman added that the group stole four motorcycles in Balle, the headquarters of Gudu LGA, adding bandits have also joined forces with the terror group.
“They usually come to our communities during the day and go back to the forest in the night. They also have drones which they use in monitoring the movement of security operatives,” Kalenjeni added.
The Deputy Governor of Sokoto State, Engr. Idris Gobir, who received Course 33 of the National Defence College, reportedly confirmed Kalenjen’s account.
Gobir said an “assessment carried out indicated that the group possessed sophisticated weapons and their criminal activities were observed in about 5 LGAs of the state.“
NBS Report: 50kg Bag Of Imported Rice surge by 144.77% To Costs ₦120,193 – From ₦49,103 Last Year
AFOLABI
The price of imported high-quality loose rice has surged by 144.77% over the past year, as reported by the National Bureau of Statistics (NBS).
According to the NBS’s latest food price report, the average price of a 50kg bag of imported rice climbed from ₦49,103 in September 2023 to ₦120,193 in September this year.
The cost per kilogram of imported rice rose by 3.21%, increasing from ₦2,329.05 in July to ₦2,403.86 in September. This is a significant jump from ₦982.07 per kilogram a year ago, indicating a more than twofold increase.
Prices for other types of rice have also risen. The cost of loose agricultural rice went up from ₦1,882.39 in July to ₦1,965.64 in September, marking a 4.42% increase.
On a year-over-year basis, this represents a 146.33% rise from ₦797.98. Nasarawa recorded the highest price at ₦3,050.33 per kilogram, while Benue had the lowest at ₦1,314.13.
Broken rice, or Ofada rice, saw a 5.61% increase from ₦2,234.06 in July to ₦2,359.47 in September, resulting in an impressive 213.36% increase over the past year.
The price of locally produced rice is following the same trend, with loose local rice rising by 4.57%, moving from ₦1,831.05 in July to ₦1,914.77 in September.
The persistent rise in rice prices is part of the broader surge in the cost of living across Nigeria, causing concern nationwide.
Additionally, Premium Motor Spirit (PMS) prices have also skyrocketed from around ₦175 per litre to between ₦1,000 and ₦1,300 per litre, further impacting the cost of goods and services across the country.
The new Minister of Education, Tunji Alausa has announced the abolishment of the 18-year admission benchmark into tertiary institutions in the country.
This is as he hinted on the possibility of his administration reviewing the nation’s education policy.
The Minister, however, stated there would be no reversal on the federal government’s decision to void over 22,700 degree certificates obtained by Nigerians in some “fake” universities in neighbouring Togo and Benin Republic.
Alausa spoke on Wednesday in his inaugural ministerial press conference which is ongoing in Abuja.
Details later…
Equatorial Guinea; Baltasar Engonga Breaks Silence On Sex Scandal Involving Presidential Relatives
AFOLABI
The embattled Director of Equatorial Guinea’s National Agency for Financial Investigation (ANIF), Baltasar Engonga, has responded to allegations of a massive sex scandal involving hundreds of private recordings, which reportedly include videos of high-profile individuals, including relatives of the country’s president, Teodoro Obiang Nguema Mbasogo.
The scandal emerged amid a fraud investigation into Engonga’s activities, during which investigators allegedly discovered over 400 explicit videos stored on his computer.
Among the individuals reportedly filmed are members of Equatorial Guinea’s elite, including the president’s sister and close relatives of other officials.
The leaked recordings said to have been consensually filmed, have sparked widespread public outrage and intense scrutiny of the government’s top anti-corruption official.
Responding to the allegations on social media platform X, Engonga denied the authenticity of the videos, attributing the scandal to what he described as the work of “enemies” intent on tarnishing his reputation.
The 54-year-old official dismissed rumours connecting one of the supposed victims to a recent suicide, labelling them as untrue.
The scandal has shaken Equatorial Guinea’s political landscape and raised questions about privacy and misconduct among top officials. Engonga, who was taken into custody following the revelation, continues to deny any involvement as authorities proceed with their investigation.
“I want to tell the People of Equatorial Guinea that those videos are AI edited. My enemies are trying so hard to bring me down
“Ignore the rumours about someone’s death linked to the leaked videos. They’re unfounded”, he said.
Engonga said he had only one wife and six children, adding that she is his hero.
“I only have one wife and my 6 children. They keep me going. We are a happy family. They are my everything.
“If anything ever happens, you are strong enough to guide our children through anything. I trust you completely. You are not just my wife, but my hero”, he added.