Britons headed to the polls Thursday in a general election widely expected to emphatically return the opposition Labour Party to power and end nearly a decade-and-a-half of Conservative rule.

The country’s first national ballot since Boris Johnson won a landslide for the Tories in 2019 follows Prime Minister Rishi Sunak’s surprise call to hold it six months earlier than required.

His gamble looks set to backfire spectacularly, with polls throughout the six-week campaign — and for the last two years — pointing to a heavy defeat for his right-wing party.

That would almost certainly put Labour leader Keir Starmer, 61, in Downing Street, as leader of the largest party in parliament. 

Centre-left Labour is projected to win its first general election since 2005 by historic proportions, with a flurry of election-eve polls all forecasting its biggest-ever victory.

But Starmer was taking nothing for granted as he urged voters not to stay at home. “Britain’s future is on the ballot,” he said. “But change will only happen if you vote for it.”

Voting began at 7:00 am in more than 40,000 polling stations across the country, from church halls, community centres and schools to more unusual venues such as pubs and even a ship.

At 10:00 pm, broadcasters then announce exit polls, which typically provide an accurate picture of how the main parties have performed.

Results from the UK’s 650 constituencies trickle in overnight, with the winning party expected to hit 326 seats — the threshold for a parliamentary majority — as dawn breaks Friday.

Polls suggest voters will punish the Tories after 14 years of often chaotic rule and could oust a string of government ministers, with talk that even Sunak himself might not be safe.

That would make him the first sitting prime minister not to retain his seat in a general election.

“I appreciate people have frustrations with our party,” he conceded on Wednesday. “But tomorrow’s vote… is a vote about the future.”

Sunak, 44, is widely seen as having run a dismal campaign, with anger over his decision to leave D-Day commemorations in France early the standout moment.

 

In new blows Wednesday, The Sun newspaper switched allegiance to Labour — a key endorsement given the tabloid has backed the winner at every election for several decades.

It follows the Financial Times, the Economist and The Sunday Times as well as traditionally left-leaning papers The Guardian and The Daily Mirror, also endorsing the party.

Meanwhile, three large-scale surveys indicated Labour was on the brink of a record victory, with the Tories set for their worst-ever result and the centrist Liberal Democrats resurgent in third.

YouGov, Focaldata and More in Common all projected Labour would secure at least 430 seats, topping the 418 under Tony Blair in 1997.

The Conservatives could plunge to a record low of less than 127, the trio predicted.

The Lib Dems were tipped to scoop dozens of seats — up from their current tally of 15 — while Nigel Farage’s anti-immigrant Reform UK party was set to win a handful.

YouGov and More in Common both forecast the Brexit figurehead would finally become an MP at the eighth time of asking.

If the predictions are accurate, Sunak will on Friday visit the head of state King Charles III to tender his resignation as prime minister.

 

Starmer will meet the monarch shortly after to take up his invitation to head the next government — and become prime minister.

The Labour leader will then travel to Downing Street — the office and residence of British leaders — where he would be expected to deliver a speech before making ministerial appointments.

It would cap a remarkable political rise for the former human rights lawyer and chief prosecutor, first elected an MP in 2015.

He has promised a “decade of national renewal” but faces the daunting task revitalising creaking public services and a flatlining economy.

AFP

The senate has constituted an ad hoc committee to investigate the “importation of hazardous petroleum products and dumping of substandard diesel into the country”.

During plenary on Wednesday, the upper chamber also appointed Opeyemi Bamidele, majority leader of the senate, to lead other 14 lawmakers to unravel the masterminds behind the illicit practice and transaction.

Members of the ad hoc committee comprise lawmakers Adams Oshiomhole, Abdul Ningi, Osita Izunazo, Ifeanyi Uba, Diket Plang, Mohammed Monguno, Abdullah Yahaha, Olamilekan Solomon, Khabeeb Mustapha, Shahabi Ya’u, and Tokunbo Abiru.

Senate President Godswill Akpabio set up the ad hoc committee at the plenary after Asuquo Ekpenyong, a lawmaker, moved a motion on the urgent need to probe the issue.

Ekpeyong cited a report on June 16 as stating that 12 diesel cargoes conveying a total of 660 kilotons of diesel, were exported by refineries to offshore Lome, Togo for “further distribution to West African markets, mainly Nigeria”.

He said the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), despite revising diesel importation standards in line with the Petroleum Industry Act, has been “unable to enforce compliance”.

The politician said a ban on the importation of diesel would be beneficial to the Nigerian petroleum industry and indeed the entire nation and as such, “NMDPRA should cease import licenses in order to address all concerns”.

 

Consequently, Akpabio highlighted the need for the senate to immediately investigate and unravel those behind the hazardous practice.

On June 23, Devakumar Edwin, vice-president, oil and gas at Dangote Industries Limited (DIL), lamented the activities of the NMDPRA in granting licences indiscriminately to marketers to “import dirty refined products into the country”.

Kenneth Okonkwo, a chieftain of the Labour Party (LP), says Nnamdi Kanu, the detained leader of the Indigenous People of Biafra (IPOB), is in prolonged detention because of ethnic bias.

Okonkwo spoke on Wednesday when he was featured on NewsDay, a programme of Arise TV.

The IPOB leader has been in the custody of the Department of State Services (DSS) since he was extradited from Kenya in June 2021.

He is currently facing terrorism charges filed against him at the federal high court.

In recent months, there have been calls for Kanu’s release, particularly by stakeholders from the south-east region.

In June, 50 members of the house of representatives asked President Bola Tinubu to order Kanu’s release.

On Tuesday, governors under the umbrella of the South-east Governors’ Forum also resolved to meet with Tinubu to seek the release of the separatist leader.

 

The south-east region has witnessed an uptick in the activities of gunmen who violently enforce a sit-at-home order on Mondays to demand Kanu’s release.

‘KANU KEPT IN JAIL OVER ETHNIC BIAS’

Okonkwo claimed that Kanu is being held in detention due to “ethnic bias,”  adding that he has not committed worse crimes like other separatists whose cases in court have been dropped.

“Nnamdi Kanu has not done anything that other people from other zones have done,” he said.

 

“We know about Sunday Igboho of the Yoruba nation agitator. We know of the Boko Haram people who say that they want a different country where Western education is an abomination.

“These people have been released, not just that they have been released; in the case of Boko Haram, they have been reassimilated into society and given plum jobs.

“Why is Nnamdi Kanu’s case different? There is an ethnic and some unnecessary bias that is keeping that man in jail.

“The government should be wise enough to release this man. You can release him conditionally or unconditionally.

 

“As a lawyer, I have watched the legal issues very clearly, and I saw that even in the courts, from the high court to the supreme court, there are discordant tunes amongst them.

“Even in the issue of bail, some of the tiers of the court have granted him bail. Even in the issue of the charges, some tiers of the court have quashed all the charges.

 

“So, you can see that the government has a lot of places it can stand to release the young man and bring peace to the south-east.

“He is now more like a political prisoner. The longer Nnamdi Kanu is in prison, the taller he becomes and the shorter the government becomes.”

 

Okonkwo asked the federal government to “take the intelligent way out” by releasing Kanu as it did to other separatists.

The naira further weakened against the dollar at the foreign market on Wednesday.

FMDQ data showed that the naira slumped to N1512.61 against the dollar on Wednesday from N1509.45 on Tuesday.

This represents a N3.16 loss against the dollar compared to N1509.45 traded on Tuesday. 

Similarly, at the parallel foreign exchange market, the naira depreciated to N1520 per dollar on Wednesday from N1515 the previous day.

The development comes as foreign currency transaction turnover dropped to $114.91 million on Wednesday from $213.31 million on Tuesday, according to FMDQ data.

President Bola Tinubu, on Wednesday, approved the appointment of qualified Nigerians to the Board of the Nigerian Consumer Credit Corporation CREDICORP.

The appoinment was announced by the Special Adviser to the President on Media and Publicity, Ajuri Ngelale.

 

According to Ngelale, the appointment was to further expedite the process of expanding consumer credit access to Nigerians.

He disclosed that Otunba Aderemi Abdul, an Independent Non-Executive Director, has been appointed as the board chairman of the nine-member board, while Engr. Uzoma Nwagba is appointed as the Managing Director/Chief Executive Officer.

Mrs. Aisha Abdullahi is appointed as the Executive Director (Credit, Risk & Portfolio)/CRO, Ms. Olanike Kolawole, Executive Director (Operations)/COO,
Dr. Armstrong Ume Takang, Non-Executive Director (MOFI Nominee), Dr. Peter Iwegbu, Non-Executive Director (NIMC Nominee), Mr. Mohammed Nasiru Abbas, Non-Executive Director (FMITI Nominee), Mr. Marvin Nadah, Non-Executive Director (FCCPC Nominee) and the Federal Ministry of Finance, FMF Representative, Non-Executive Director (FMF).

The statement added, “The President expects the new members of the Board of this pivotal institutional vehicle to bring their vast experience, competence, and dedication to bear in their functions to achieve CREDICORP’s mandate of accelerating access to consumer credit to millions of Nigerians.”

The Federal Government has invited the Senior Staff Association of Nigerian Universities (SSANU) and the Non-Academic Staff Union of Educational and Associated Institutions (NASU) for a crucial meeting.

The meeting is scheduled to be held on Thursday at the office of the Minister of Education, Prof. Mamman Tahir.

 

Naija News had reported that both SSANU and NASU threatened to shut down universities on Thursday, July 4, over the non-payment of the four months withheld salaries by the government.

The Joint Action Committee (JAC), comprising SSANU and NASU, had a few days ago issued a two-week ultimatum to the Federal Government to pay its members the four months withheld salaries.

Out of the four university-based unions that embarked on a prolonged strike in 2022, the federal government had paid the Academic Staff Union of Universities (ASUU), leaving behind the other three unions.

It could be recalled that the Federal Government, through the Ministry of Labour and Employment, then under Chris Ngige as minister, had invoked the ‘No Work, No Pay’ policy, which caught up with the entire unions when they went on a protracted strike.

Despite the presidential directive to release their salaries, SSANU and NASU members have been ignored by those implementing the directive.

Shortly after assuming office as Minister of Education, Professor Mamman reiterated that all affected unions are to benefit from the payment.

However, the latest threat by SSANU and NASU seemed to have hit the right chord as the federal government summoned an emergency meeting scheduled to be held on Thursday by 1 pm on Thursday in a bid to avert the looming strike.

“The Minister of Education has called to meet with SSANU and NASU today, maybe to persuade us not to go on strike. We will honour the invitation. We are also going to meet with the Minister of State for Labour and Employment by 3 pm,” a source in the know reportedly told the Daily Post.

Reports also revealed that JAC was originally set to convene at 10 am on Thursday before proceeding to the other meeting.

The JAC intended to convene on July 4, following the two-week deadline, to assess the government’s reaction to their requests and announce a perpetual strike should the government persist in failing to pay their suspended wages.

President of Dangote Group, Aliko Dangote, has advocated for policies that safeguard domestic industries and cultivate them into indigenous champions capable of generating jobs and fostering prosperity in face of current global economic woes.

The foremost entrepreneur told the gathering of manufacturers and investors in Abuja while delivering a speech on 'Rethinking Manufacturing in Nigeria' as the keynote speaker at the Nigeria Manufacturers' Summit that Nigeria has what it takes to be prosperous.

Dangote who noted that through there are various factors contributing to the underperformance of the manufacturing sector, emphasized that the crucial issue requiring attention is government policy and its approach toward investments and investors.

He pointed out that industrial or manufacturing entities are not like trading entities, while expressing his belief that the fundamental role and responsibility of government should be not only to promote investments and attract investors in manufacturing but also to ensure that these investments are nurtured and protected to facilitate growth and sustainability.

“In every economic regime, including the most advanced, investment projects in manufacturing and industrial sectors need time and a conducive environment for them to mature, build capacity and scale, to become competitive against those in older and more mature markets.

“But since the Mid 1980’s non-industrialized countries and their leaders have been discouraged from protecting and supporting such investment and forced to expose them to unfair competition from stronger, older competitors in their own internal market, even before the newcomers are commissioned. Yet these same older/bigger players are well supported in their home markets,” he said.

He listed several examples of government intervention to protect industries: the blocked sale of US steel to Nippon Steel of Japan, the blocked sale of six US port management companies to Dubai Ports World, restrictions on Chinese cranes at US ports, and the US imposition of tariffs such as 100% on Chinese EVs, 50% on semiconductors, medical products, and solar panels. He also cited the restriction of Russian gas supply to Europe, which led European countries to increase coal usage despite opposition to fossil fuels, and the US government's distribution of $39 billion in subsidies to incentivize local microchip production.

Dangote referred to Asia as having achieved significant levels of industrialization by pursuing industrial policies where the government played an active role in nurturing and supporting local companies. They subsequently leveraged this success to attract foreign direct investment (FDI) into Free Trade Zones.

He emphasized that Government Protection of the industry, does not solely encompass short to medium-term Regulatory Mechanisms such as tax holidays and other incentives which have their place in industrial policy and should be applied when necessary to mitigate investment challenges.

“I am concerned with a long term policy framework which ensures that investors can invest with the understanding that the industry will in the long run be regarded as a national asset and not just investor’s assets, so that when it is threatened, either by external forces or by changes in the environment beyond the control of individual operators, Government will take appropriate action to protect investors and support them to survive the threat. Almost all countries did this in response to the COVID threat. Those in the pharmaceutical industry may well remember how India protected and supported its pharmaceutical industry,” he said while noting that if such policy had been adopted in the past, Nigeria would boost a flourishing textile and tyre industry as well as functioning refineries.

“If we had adopted such a policy and Government attitude to the Textile Industry and tyre industry in the 80’s and early 90’s, perhaps our economy today will still be benefitting from the job creation capacities of these industries. Or if we had adopted this attitude to our Refining industry, Nigerians would not today be too anxious about Dangote Refinery,” he stated.

Disputing assertions that protecting domestic industries leads to reduced competitiveness, Dangote argued to the contrary, citing examples such as China, Korea, India, and various other Asian nations. He pointed out that these countries successfully developed into robust economies and posed a challenge to the established global economic order precisely because they protected their industries.

He noted that in the past, Nigeria was not competitive in cement production, producing less than 2 million tons of cement per annum up to 2007. He pointed out that due to strategic government policies and support, Nigeria has since become Africa's largest cement producer and exporter, ranking among the top 10 globally in competitiveness.

Dangote noted that in 2023, Dangote Cement alone contributed more tax revenue to the government than the entire banking sector. “In the past, Nigeria was not competitive in cement production. Up to 2007, Nigeria produced less than 2m tons of cement per annum. Today we have about 60m tons of production capacity and another 9m under construction. The foundation for this success story was laid by an administration which decided to extend full support and protection to Nigeria’s cement industry. Today we are among the 10 most competitive cement producers in the world and the biggest cement producer and cement exporter in Africa. In 2023, Dangote Cement alone paid more taxes into the coffers of the government than the entire banking industry,” he said.

Dangote also refuted claims that protecting industries would lead to monopoly, stating that it is common knowledge that foreign investors only come when they see that local investors are also doing well.

"I am convinced that when Government Policy becomes more supportive and protective, investors will be more willing to collaborate and partner with the Government in resolving other challenges such as infrastructure deficits, market instabilities and macro-economic issues such as inflation and foreign exchange volatilities," he added.

Reiterating that Nigeria has all it takes to develop and sustain a globally competitive manufacturing sector, Dangote called for re-thinking of her industrialization policy, by learning from leading countries in the West and the East who are actively protecting their domestic industries.

 

 

President of Dangote Group, Aliko Dangote and the Vice-President of Nigeria, kashim Shettima and Otunba Francis Meshioye, MAN president during the MAN Summit at the Villa in Abuja.

 

 President of Dangote Group, Aliko Dangote is receiving an honour from MAN DG Ajayi Kadri for his contribution to the manufacturing sector in Nigeria, at the MAN Summit at the Villa in Abuja.

 

Last modified on Wednesday, 03 July 2024 18:47

Nigeria government is to receive a 7.5 percent Value Added Tax on Cryptocurrency transactions from users registered in the country from July 8, 2024.

A popular cryptocurrency platform, KuCoin disclosed this in a recent email notice to users in Nigeria.

“We are writing to inform you of an important regulatory update that impacts our users from the Republic of Nigeria.

 

“Starting from July 8th, 2024, we will begin collecting a Value-Added Tax (VAT) at a rate of 7.5 percent on transaction fees in each trade for users whose KYC information is registered in Nigeria.”

According to official data, cryptocurrency transaction volume is $59 billion yearly.

Meanwhile, Ray Youssef, director of NoOnes, a cryptocurrency platform said peer-to-peer business is worth $500 billion.

In February 2024, the Governor of the Central Bank of Nigeria, Olayemi Cardoso raised the alarm that a suspicious $26 billion was funneled through Binance without a trace.

Some bandits who kidnapped a Kaduna State female judge and her four children were reported to have killed the eldest son while threatening to kill the other children if the ransom demanded was not paid.

The Chief Executive Officer of the House of Justice, Gloria Ballason, who disclosed this in a statement on Wednesday, condemned the abduction of the Customary Court judge, Janet Galadima, and her four children as well as the “murder of her 14-year-old son by the terrorists.”

Ballason said Galadima was abducted on the night of Sunday 23 June 2024 along with her four sons at their residence in the state by the hoodlums while her husband, a medical doctor, was away on duty.

“The abductors reported to have been about fifteen, took their captives hostage and demanded a huge sum as ransom. On Tuesday 2 July 2024, the terrorists shot dead the 14-year first son of the Judge when the ransom demanded could not be obtained,” she said. 

Ballason, a human rights lawyer, described the murder of Victor, the 14-year-old son of the judge as “grisly and blood-curdling”, stating that no parent deserved the horror of watching their child being killed in such a cold, callous manner.

She called on the Nigerian security agencies, the governor of Kaduna State, the Nigeria Bar Association, and the judiciary to protect the lives of Galadima and her children and ensure justice is served.

Meanwhile, the state chapter of the Nigeria Medical Association in a statement issued by its Public Relations Officer, Dr Shuaibu Joga, condemned the development and urged the security agencies to rise to the occasion.

 

The statement read, “Following the incident, we visited the husband and interacted with him and he informed us that the kidnappers had made a demand of N300 million to secure their release. While the security agencies had been informed and negotiations with the kidnappers were ongoing, we received the shocking news today that the first son was killed to force payment of the said sum.

“In response, we are calling for an emergency SEC meeting today and a press conference to further call on the authorities to expedite action on securing their immediate release and also the release of our other doctor kidnapped 6 months ago.

“We call for calm from members and request all to stay safe while we engage the necessary security organs to end this needless wanton evil.”

A family source said the kidnappers who initially demanded a ransom of N300m later reduced to amount to N298m to secure the release of the abducted judge and their remaining children.

“The wife and 4 children of Dr. Musa Gimba Dutse were kidnapped on 23/06/24 from his residence in Kaduna while he was away in Kano for an official assignment.

“Security agencies were duly informed after the incident with kidnappers initially demanding N300 million (they reduced it to N298 million) to secure their release. While negotiations were ongoing, the kidnappers murdered Dr. Musa’s eldest son Victor (14yrs) on July 2, 2024, to force payment of the ransom,” he said.

As of the time of filing this report, there was no official statement from the state government or the state police command.

 

When contacted on the telephone, the Command’s Police Public Relations, Mansir Hassan, could not be reached as the line indicated “busy” and a text message sent by our correspondent was not responded to.

Former President Olusegun Obasanjo has disclosed that the issue of releasing Nnamdi Kanu was not part of his discussion with the South East governors in Enugu State, on Tuesday.

 

The former President and Chief Emeka Anyaoku met with the governors on their own invitation to discuss regional development issues, and the purported plan release of Kanu by the federal government was not part of it.

 

A release by his Special Assistant on Media, Kehinde Akinyemi, on Wednesday, stated that the regional development issues include that of security and infrastructure.

Others were economic and cooperative/collaboration, which was meant to complement the national economic development agenda.

“The meeting with them was at my invitation and Chief Emeka Anyaoku before their summit begins.

“The issue of Nnamdi Kanu was not on the agenda and was not discussed in my presence,” Obasanjo was quoted as having said.