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The monetary policy committee of the Central Bank of Nigeria (CBN) has raised the monetary policy rate (MPR), which benchmarks interest rates, to 27.65 percent — from 26.25 percent
Olayemi Cardoso, governor of the apex bank, announced the rate adjustment on Tuesday at the end of the committee’s 296th meeting in Abuja.
Last week, Nigeria’s inflation rate rose to 34.19 percent amid the surge in food prices.
The MPR is the baseline interest rate in an economy, every other interest rate used within the economy is built on it.
More to follow…
[TheCable]
The Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL), Engr. Mele Kyari, has categorically denied that the oil company owned a blending plant in Malta.
The refuttal came in response to claims made by businessman Aliko Dangote that NNPCL officials were operating an oil facility on the Mediterranean Island.
LEADERSHIP reports that Dangote, while addressing the leadership of the House of Representatives on July 22, claimed that apart from NNPC personnel, oil traders and terminals have established a blending plant in Malta. An oil blending plant, unlike a refinery, blends re-refined oil with additives to produce finished lubricant products.
But, the NNPCL boss took to his X handle (formerly Twitter) on Tuesday to debunk the claims. 
Kyari wrote: “I am inundated by enquiries from family members, friends, and associates on the public declaration by the President of Dangote Group that some NNPC workers have established a blending plant in Malta, thereby impeding procurements from local production of petroleum products.
“To clarify the allegations regarding the blending plant, I do not own or operate any business directly or by proxy anywhere in the world, with the exception of a local mini agric venture. Neither am I aware of any employee of the NNPC who owns or operates a blending plant in Malta or anywhere else in the world.”
He further asserted that such a plant in Malta or anywhere globally has no influence over NNPC’s business operations and strategic actions. “A blending plant in Malta or any part of the world has no influence over NNPC’s business operations and strategic actions,” he added.
Kyari also underscored the company’s commitment to compliance and accountability. “For further assurance, our compliance sanction grid shall apply to any NNPC employee who is established to be involved in doing so if availed, and I strongly recommend that such individuals be declared public and be made known to relevant government security agencies for necessary actions in view of the grave implications for national energy security,” he concluded.
[Leadership]
The President of the African Development Bank Group (AfDB), Akinwumi Adesina, says Nigerian government will be the loser in the wake of criticism targeted at Alhaji Aliko Dangote and his refinery.
He noted that such criticism would discourage foreign investors from coming to the country.
There has been a disagreement between Dangote and Nigerian National Petroleum Company Limited (NNPCL) as well as Nigerian petroleum regulatory authorities over the alleged substandard quality of diesel produced by Dangote Refinery, among other issues.
Adesina, who dismissed claims of Dangote’s monopoly of the country’s manufacturing sector, expressed shock at the controversy, saying it was creating bad waves for Nigeria globally.
Adesina’s remarks are contained in a statement shared on X by business mogul Femi Otedola on Tuesday.
The statement read in part, “Monopoly often exists where there are high barriers to entry or high capital costs. How many individuals or companies can do railways? How many can do refineries of the scale of Dangote Refineries? In a nation that has been importing refined petroleum products for several decades, the abnormal simply became very normal.
“No smart investor would make a $19.5 billion investment and want it to be undermined by importers. To manufacture is extremely expensive and risky. This is even more so in Nigeria, given the very challenging business and economic environment, fraught with policy uncertainties and policy reversals, and where the self-defeating default mode of ‘simply import it’ is always so easily rationalized and chorused to solve any problem.
“…This whole disparaging of Dangote is uncalled for. It is self-defeating. And it is very bad for Nigeria. Who will want to come and invest in a country that disparages and undermines its own largest investor? Investing is tough. Pettiness is easy. It sadly sends a signal that the price for sacrificing for Nigeria is to get sacrificed.”
[DailyTrust]
Senate President Natasha Apoti-Uduaghan has apologized to the Chairman of Senate Committee on Local Content, Natasha Akpoti-Uduaghan, for rebuking her.
Last week Thursday, Akpabio had cautioned Akpoti-Uduaghan on the floor of the Senate, saying she was not in the night club.
The Senate was in session when Akpabio said those in favour of the second reading of a bill to say ‘Aye’, while those against should say ‘Nay’.
The ‘Nay’ response came the loudest and as the Senate President contemplated his next action, Akpoti-Uduaghan rose to explain why she and some others were against the second reading of the proposal.
“Mr President, we don’t want it to be killed. We just want a bit of modification. We don’t want the bill killed but there should be slight modification.”
Responding to her, Akpabio said, “You see Senator Natasha, in the chamber, you have to be recognized before you speak. We’re not in a nightclub.”
However, Akpabio has said his “night club” remark was reported out of context.
Speaking on the floor of the Senate on Tuesday, the Senate President said: “We are still learning, even those of us who have been in the Senate for 16 years, we are still learning.
“But in the cause of speaking with one of my distinguished sisters on not speaking when not recognized, I made reference to the fact that we are not in a night club where people have to shout above the noise of the music.
“The social media went agog, my wife called me that they published her number and she received around 2,000 to 3,000 calls per day.
“I’m happy with the interest generated by Nigerians with what goes on in this chambers because we are here for their interest.
“The communication was totally misunderstood, instead of making meaning with what we said, they went into private abuses; I don’t want to say what they did to me.
“I will not intentionally denigrate any woman, I have a wife and four daughters and I always pray that God will lift a girl to the highest zenith in Nigeria politically and in business. So Senator Natasha I want to apologize to you if you felt offended.
“There is nothing I will say that would not be misrepresented, I felt I should tender a public apology to you.”
[DailyPost]
•NNPC mum as dealers insist government still paying subsidy, Reps probe crude shortage
•Dangote eyes foreign markets for refinery products, FG meets Kyari, Dangote over dispute
With a landing cost of N1,117 per litre for Premium Motor Spirit, popularly called petrol, the monthly subsidy on the commodity has increased to about N707bn, oil marketers projected on Monday.
It was also gathered that as the Dangote Petroleum Refinery begins petrol production in August, the company might export the product following the crude oil supply crisis and other regulatory challenges confronting the $21bn firm.
This came as the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, met with officials of Dangote refinery, Nigerian National Petroleum Company Limited, Nigerian Upstream Petroleum Regulatory Commission and Nigerian Midstream and Downstream Petroleum Regulatory Authority.
The meeting in Abuja on Monday bordered on the recent concerns between Dangote refinery and oil sector regulators and operators.
Also, the House of Representatives inaugurated an investigative committee to look into the non-availability of crude oil to domestic refineries and allegations of deliberate hike in the cost of the product for profiteering.
Last Wednesday, the Major Energies Marketers Association of Nigeria stated that the landing cost of petrol as of the preceding day was N1,117/litre.
This came as the Independent Petroleum Marketers Association of Nigeria insisted that the Federal Government was still subsidising PMS. IPMAN stressed that this was not sustainable and might lead to an increase in the pump prices of petrol soon.
MEMAN also revealed last week that the landing cost of diesel was N1,157/litre, while that of aviation fuel was N1,127/litre.
While the pump prices of diesel and aviation fuel are considerably higher than their landing costs, the pump price of petrol is way lower than its landing cost.
Although retail outlets operated by the Nigerian National Petroleum Company Limited and some major marketers dispense petrol at between N617/litre and N670/litre, dealers said the ex-depot price of the commodity by NNPC is N585/litre.
Idependent marketers hardly get the product at the N585/litre ex-depot price. They mostly buy from private depot owners at higher rates findings show. This makes their pump prices much higher. Some of them dispense the commodity above N700/litre.
NNPC is Nigeria’s sole importer of petrol. Other dealers stopped importing the commodity due to their inability to access the United States dollar, required for PMS imports.
The difference between the landing cost of N1,117 and an ex-depot price of N585 is N532. This implies that every litre of petrol consumed in Nigeria is subsidised by about N532.
Nigeria consumes tens of millions of litres of petrol daily. There are different petrol consumption figures from various agencies of the Federal Government.
NNPC, Nigerian Midstream and Downstream Petroleum Regulatory Authority, and the Federal Ministry of Petroleum Resources, have stated different figures ranging from 66.8 million litres in September 2022 to 44.3 million litres in October 2023.
When the most recent daily PMS consumption figure of 44.3 million litres is multiplied by the N532 subsidy reportedly paid on each litre of petrol, it gives N23.57bn as the daily subsidy spending.
This means that in 30 days, the petrol subsidy should gulp about N707bn.
The Secretary of IPMAN, Abuja-Suleja, Mohammed Shuaibu, said though the Federal Government and NNPC had claimed that there was no subsidy on petrol, the latest figures by MEMAN proved otherwise.
He said petrol subsidy was over N700bn monthly considering the landing cost of the commodity as revealed by MEMAN.
“Petrol price is determined by the forces of demand and supply in the international market. When there is a global price increase, we should experience it in Nigeria. Therefore the N1,117/litre is not just based on our foreign exchange rate, but also the global PMS cost. The sole importer of this product is NNPC and the company is not telling us the truth.
“But data sourced by our counterparts, the major marketers, showed clearly that the landing cost of petrol is above N1,100/litre. This means that the monthly subsidy has crossed N700bn. That also means we should be prepared so that any time the price of petrol jumps, we should not be surprised because they have already told us,” Shuaibu stated.
The IPMAN official insisted that if government was not subsidising petrol, it should have allowed the full deregulation of the downstream sector.
“Of course, you know NNPC will hide this information from you. Former Kaduna State Governor, Nasir El-Rufai, stated a few months ago that the Nigerian government is not telling Nigerians the truth about fuel subsidies because they are still paying subsidies.
“If they are not paying, why is it that up till now only NNPC is importing petrol when they claim that they have liberalised the market? They should open the market to competition by allowing investors to come in and compete favourably. This will crash the price of the product.
“But where only one entity controls the importation of PMS then the sector has not been deregulated. That is why we feel NNPC is economical with the truth by saying that it is not subsidising petrol,” Shuaibu added.
In April, El-Rufai told journalists in Maiduguri that many citizens were not aware that the government had reintroduced the PMS subsidy.
“The Federal Government is now subsidising fuel; many people don’t know this. It is the right policy. I have always supported the withdrawal of oil subsidies; but in the course of implementing the policy, the government realised that subsidy has to be back; right now, the government is paying a lot of money for subsidy, even more than before.
“You start implementing a policy because you are sure it is the right policy, but in the course of implementation, you come across bottlenecks and you modify.
“The keyword in leadership, in my view, is pragmatism. You should be pragmatic. So, when you make a policy, you start implementing it, and if it doesn’t seem to work well, you should have the humility to stand back and say this is not working, and you modify it,” El-Rufai had stated.
NNPC mum
The Chief Corporate Communications Officer, NNPC, Olufemi Soneye, did not respond to an enquiry on whether the national oil company was subsidising petrol based on the latest revelation of MEMAN.
However, Soneye had earlier insisted that the national oil firm had stopped subsidising petrol.
“We are recovering our full costs from the products we import. It is important to emphasise that the subsidy is no longer in place. Contrary to allegations, the petrol subsidy has not been reinstated,” the NNPC spokesperson had stated.
Before the recent revelation by MEMAN on the N1,117/litre landing cost of petrol, the GCEO of NNPC, Malam Mele Kyari, had told state house correspondents after an audience with the President at the Aso Rock Villa a few months ago that fuel subsidy had not been returned.
“No subsidy whatsoever. We are recovering our full cost from the products that we import. We sell to the market, and we understand why the marketers are unable to import. We hope that they do it very quickly and these are some of the interventions the government is doing. There is no subsidy,” Kyari had stated.
But the Public Relations Officer of IPMAN, Chief Ukadike Chinedu, insisted that petrol prices at the pumps should be over N900/litre if the commodity was not subsidised.
“I’ve said before that the PMS subsidy had been returned, and the government said it was a lie. I said before that the government is subsidising PMS and it is on till this moment. I said before that what the government was doing was quasi-subsidy and that has not changed,” Ukadike stated.
He said the N1,117/litre landing cost for petrol as revealed by MEMAN is a clear indication that subsidy on petrol is still implemented by the government through NNPC.
Petrol export
It was also gathered that as the Dangote refinery begins petrol production in the next couple of weeks, the company might be forced to export the product out of the country.
The PUNCH reliably gathered that the company was contemplating selling its product to other countries as it failed to get crude oil from International Oil Companies operating in Nigeria.
Multiple sources within the organisation told one of our correspondents that the cost of importing crude oil from the United States was impacting the cost of production, making the product more expensive than the one imported by NNPC.
Some fuel marketers also stated that because Nigerians may not buy high-priced petrol, the Dangote Group was considering exporting PMS to countries where it would not be seen as too expensive.
Dangote refinery recently disclosed that it had exported about 3.5 billion litres of refined petroleum products, which, according to the firm, constituted about 90 per cent of its total productions so far.
A top official of the refinery, who spoke on condition of anonymity because he wasn’t authorised to speak on the matter, maintained that the much-awaited PMS might go the way of other products being exported to other countries.
“I can confirm that we will supply PMS in August. That is certain. But I don’t know if we will sell to the Nigerian market. The refusal of the IOCs to supply us with crude oil is affecting the cost of production, and that will make the product more expensive compared to what the government is selling. To avoid issues, it is better to send our PMS to other countries. We have the market out there. West Africa alone is a big market for us.
“The main issue we have is crude oil. Importing it from the US is not easy. I guess Nigerians will understand; nobody wants to sell below the cost price. Everybody wants to buy cheaper fuel, but the cost of crude import is high. If we take the product to the market and the government keeps subsidising the imported one, what do you think will happen? There is no way anybody can survive in the face of government subsidy. If we don’t get crude locally, most likely, our PMS won’t be sold in Nigeria.
“If we can stop fuel importation, we will save our dollar and reduce the pressure on the naira, but sadly, this is turning out to be the way it is,” our source stated.
The source further stated that this was why the Dangote refinery had yet to release the price of its PMS.
“We ought to have met with marketers to disclose the price of our product, but we have yet to do so because of this situation and we are not even sure if the product will be sold in Nigeria. The situation is too dicey. Alhaji (Aliko Dangote) wants to end importation of PMS and give Nigerians cheaper access to energy, but there’s a mafia who don’t want that to succeed,” the source stated.
However, when asked if there are conditions that may make Dangote refinery to export its petrol instead of selling it locally, the spokesperson for the company, Mr Tony Chiejina, simply said, “Our policy is: Nigeria first.”
Experts react
Reacting, an energy expert, Prof Wumi Iledare, said the Dangote refinery was in a free trade zone and the export of PMS should not be seen as a problem as long as regulations were not violated.
“Dangote does not necessarily have to sell to the Nigerian market if the Nigerian market does not want it. NNPC could decide to get their petroleum products and decide to sell them in Nigeria. If you look at the regulation, what they call the domestic crude supply obligation, it is willing-seller, willing-buyer; the government cannot dictate the price of crude. It is going to be a negotiation between the two of them. I think people are just being sentimental about this issue,” Iledare stated.
“If Nigerians are willing to pay for whatever other people will pay for PMS, why will Dangote not sell it for them?”
He stated that by selling the product in Nigeria, the refinery would save the cost of transporting the same product, but would not sell the commodity lower than what the Nigerian market can support.
“The gap between the cost of diesel and petrol in Nigeria is much. It’s never like that all over the world. That means something is wrong. Dangote doesn’t mind selling if you are going to pay the subsidy for him to supply to the Nigerian market.
“I don’t know if NNPC is paying subsidies or not, but somebody is absorbing the difference. You can call it under-recovery or subsidy, but the price of petrol today does not reflect the market cost of producing a litre of petrol,” Iledare disclosed.
The $20bn Dangote refinery located in Lekki, Lagos State, is expected to begin the sale of petrol in August.
The President of the Dangote Group, Aliko Dangote, had said his refinery would stop the importation of refined petroleum products into Nigeria and Africa.
However, the company has repeatedly raised concerns over the alleged refusal of International Oil Companies to sell crude to the refinery.
“It’s like the IOCs’ objective is to ensure that our petroleum refinery fails. It is either they are deliberately asking for ridiculous/humongous premium or they simply state that crude is not available. At some point, we paid $6 over and above the market price. This has forced us to reduce our output as well as import crude from countries as far as the US, increasing our cost of production,” Vice President of Oil and Gas at Dangote Industries Limited, Devakumar Edwin, stated recently.
Reps wade in
The Speaker of the House of Representatives, Tajudeen Abbas, said the quality of petroleum products imported into the country must comply with global standards.
He spoke at the National Assembly Complex in Abuja on Monday during the inauguration of the House joint investigative committee assigned to carry out a forensic investigation into the allegations of domestic production and importation of substandard petroleum products into the country.
The investigating panel, made up of the House Committees on Petroleum Resources (Upstream and Midstream), is also looking into the non-availability of crude oil to domestic refineries and allegations of deliberate hike in the cost of the product for profiteering.
Addressing the committee members, Abbas, represented by the Deputy Speaker, Benjamin Kalu, condemned the resurgence of fuel queues at petrol stations, the increasing cost of PMS, and the unavailability of feedstock for the local refineries.
He said, “The quality of petroleum products imported into Nigeria has come under scrutiny, and we must ensure compliance with global standards. The Nigerian Midstream and Downstream Petroleum Regulatory Authority and the Standards Organisation of Nigeria must guarantee that petrol imported into this country is rigorously tested in laboratories to meet the standard sulphur and octane levels.
“It is unacceptable that the petrol imported into the country contains high sulphur levels, and has low octane levels — as we notably experienced in the recent past that even led to socio-economic losses on a national scale including the knocking down of the engines of vehicles of Nigerians in their hundreds.”
In his speech at the event, co-chair of the committee and Chairman of the Committee on Petroleum Resources (Downstream), Ikenga Ugochinyere, listed the tasks before the panel to include “Carrying out a legislative forensic investigation into the resurgence of fuel queues in petrol stations, allegations of high cost of PMS, unavailability of fuel stock for downstream domestic refineries and disruption of distribution of the product.”
He added, “To ensure a thorough and transparent investigation, the committee will undertake detailed laboratory investigations at all local refineries, marketers and importers facilities, regulatory agencies, state oil companies and other players in the sector.
“We will visit various filling stations, depots and tank farms to take samples in line with international standards, verify the quality of imported products and assess the testing capacities of all refineries and all refined product handling outfits.
“The collection of samples will be done transparently and in line with global best practices and would be in specimens for independent testing in different standard, accredited laboratories. This will include that of stakeholders involved in the refining and importation of refined petroleum products.”
Ugochinyere, who represents Ideato North/Ideato South Federal Constituency, Imo State, added that middlemen involved in shady marketing of crude oil as well as indiscriminate issuance of licenses would be traced and brought to book by the committee.
He added, “The committee will also conduct a legislative forensic investigation into the presence of middlemen in crude trading, indiscriminate issuance of licenses, alleged unavailability of international standard laboratories to check adulterated products and the influx of contaminated products into the country,
“There is also the allegation of non-domestication of profits realised from crude marketing sales in local banks, abuse of the Pro Forma Invoice regime, importation of products already being produced in Nigeria and use of international trading companies to resell fuel stock to local refineries at high mark up prices,” he added.
The House of Representatives had at the plenary on July 9 adopted a motion on “Urgent need to carry out a legislative forensic investigation into the challenges affecting the downstream and midstream petroleum sectors in Nigeria and other related matters to find out a lasting solution to all challenges.”
The committee is starting its mandate barely 24 hours after Speaker Abbas led a delegation of the legislative body to Lagos, headquarters of the Dangote refinery, for the spot assessment of controversy on the non-supply of crude to the indigenous company.
Lokpobiri intervenes
The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, held a meeting with the leadership of Dangote refinery, NMDPRA, NUPRC and NNPC on Monday in Abuja.
Lokpobiri’s media aide, Nneamaka Okafor, said the minister convened the “high-level meeting with key stakeholders to address and resolve the ongoing issues surrounding the Dangote refinery.”
Present at the meeting, according to a statement by Okafor, were “Mr Aliko Dangote, Chairman and CEO of Dangote Group; Farouk Ahmed, Chief Executive of NMDPRA; Mr Gbenga Komolafe, Chief Executive of NUPRC; and Mr Mele Kyari, Group Chief Executive Officer of NNPC.”
The stakeholders expressed gratitude to the minister for his intervention in facilitating the dialogue.
“The meeting focused on finding a sustainable and lasting solution to the current impasse affecting the Dangote refinery, with all parties demonstrating a commitment to collaborative and proactive problem-solving.
“The minister emphasised the importance of cooperation and synergy among all stakeholders to ensure the success and optimal performance of the oil and gas sector, which is pivotal for Nigeria’s economic growth and energy security.
“This meeting marks a significant step towards resolving the challenges and underscores the minister’s dedication to fostering a conducive environment for Nigeria’s oil and gas sector,” the statement stated.
Sgt. Cynthia Maurice of the Nigerian Airforce has made history by becoming the country’s first Professional female golfer in the military.
The News Agency of Nigeria (NAN) reports that the week-long Professional Examinations which held from July 14 to July 20 took place at HSD Golf Club Bayelsa.
The examinations sanctioned by the Professional Golfers Association of Nigeria (PGAN) consisted of playing ability tests, written and oral.
Pro Emmanuel Odoh, the Assistant Resident Head Professional, TYB International Golf Resort and Country Club told NAN that Maurice’s journey was a testament to her resilience, perseverance, and determination.
Odoh said that her achievement had indeed paved the way for other female golfers in the military and inspired young girls to pursue careers in sports.
He noted that it also highlights the progress made in promoting gender equality and diversity in the Nigerian military.
“Just four years ago, Cynthia took up golf, inspired by the professionals she saw on the course. She set her sights on becoming a pro herself, refusing to settle for amateur status.
“With unwavering dedication, she channeled her mind and body towards her goal, sacrificing tirelessly to hone her skills.
“From a 36-handicap beginner to a professional golfer, Cynthia’s transformation is a remarkable achievement. Her hard work, discipline, and courage have earned her the crown of bravery, resilience, and honor.
“Today, we celebrate Cynthia’s remarkable journey, her perseverance, and her refusal to accept anything less than excellence. Congratulations, Pro Cynthia Maurice,” he said.
(NAN)
The Naira yesterday depreciated to N1,585 per dollar in the parallel market from N1,575 last week Friday. Similarly, the Naira appreciated to N1,500.32 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.
Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,500.32 per dollar from N1,596.92 per dollar last weekend, indicating N96.6 appreciation for the naira. The volume of dollars traded (turnover) in the market grew by 7.6 per cent to $269.88 million from $250.67 million traded last week Friday.
Consequently, the margin between the parallel market and NAFEM rates widened to N84.64 per dollar from N21.92 last weekend.
The Presidency has slammed the Labour Party (LP) presidential candidate in the 2023 election, Peter Obi, over his comment regarding statistics on Nigeria’s Gross Domestic Product (GDP).
Reported that the former Governor of Anambra State raised concern over the lingering economic crisis in Nigeria, recalling that Nigeria had the biggest economy in Africa as of 2014.
Taking to his official account on X on Monday, Peter Obi, said the country’s economy soon began to drop in 2015.
In his message, Obi drew attention to the stark difference between Nigeria’s economic achievements during its early post-democracy years and its current economic condition.
According to him, upon returning to democratic rule in 1999, Nigeria saw an average GDP growth rate of approximately 6.72% over 16 years, 1999-2014.
However, he highlighted a decline in this momentum, with GDP growth dropping to 2.79% in 2015, leading to an economic downturn in 2016.
In response, the Special Adviser to the President on Information and Strategy, Bayo Onanuga countered Obi over what he called misleading statistics.
He wondered why Peter Obi would be reviewing the economy at this time, saying the motive is clear.
Onanuga said Peter Obi aims to work up his mob plotting to destabilise the country from next week.
He wrote, “Labour Party failed presidential candidate, Peter Obi has come up with his misleading, half-truth statistics again. The big question is why this economic review at this time?. The motive is clear: he wants to work up his mob plotting to destabilize the country from next week.”
Kamala Harris, the United States vice president, has raised more than $81 million, a day after President Joe Biden withdrew from the presidential race.
The amount is believed to be the largest 24-hour fundraising in the history of the US presidential campaign.
Former President Donald Trump, who is the Republican Party candidate, raised more than $50 million in 24 hours after his felony conviction in the New York hush money trial.
Biden gathered $38 million in four days after his “unimpressive” debate performance against Trump.
Harris’ new total features donations from hundreds of thousands of first-time donors, the campaign said.
The donations breathe hope into a deflated Democratic Party facing a shaky road to re-election after weeks of trying to get Biden to give up the ticket.
The 81-year-old had insisted he would remain in the race despite growing concerns about his capacity to run the race.
However, the president took Americans by surprise on Sunday when he announced his withdrawal in the interest of the party and the country.
Biden threw his weight behind Harris and urged citizens to put their confidence in her.
The vice-president promised to win and earn nominations from her fellow Democrats.
Although Harris has not been announced as the party’s official candidate, polls have shown she is most favoured to get the Democrat’s ticket.
Longest chess marathon: GWR ‘ignores’ Onakoya, announces two Norwegians as new record holders
AFOLABI
Odin Blikra Vea and Askild Bryn, two men from Norway, have broken the Guinness World Record (GWR) for the longest chess marathon.
In a recent blog post, GWR said Blikra Vea and Bryn “earned a place in history” after playing chess for 61 hours, 03 minutes, and 34 seconds.
The British reference book added that the feat was achieved in Stavanger, Norway, on June 4, 2024.
“In a stunning display of endurance and mental fortitude, and after playing a total of 383 five-minute blitz games, the record was officially confirmed at 10 p.m. local time in Stavanger, Norway,” it said.
The GWR, however, remained silent on Tunde Onakoya, the Nigerian chess champion and child education advocate, who completed a 60-hour chess marathon in New York without losing a single game.
On April 17, Onakoya embarked on his record-breaking attempt and even played chess with Shawn Martinez, also a chess master. During the attempt, he launched a fundraiser to empower illiterate children across Africa through the feat.
On April 20, the Nigerian surpassed the 56-hour mark; the previous record set by two other Norwegians Hallvard Haug Flatebø and Sjur Ferkingstad on November 11, 2018.
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GWR is typically expected to vet an attempt before confirming that a new record has been set on any task.
While Blikra Vea and Bryn’s record of 61 hours may be ahead of Onakoya’s 60 hours, the British reference book appeared to have taken no notice of the Nigerian’s attempt.
How long does it take?
The length of time for the application process and then the evidence review for the attempt itself depends on the type of application selected.
The GWR reviews documentation in 12 weeks and tells applicants whether their attempt has been accepted or rejected — that is for standard record attempts. When there are many applications, the waiting time may be longer, at least 16 weeks.
It however remains unclear why the Norwegians, whose attempt was concluded on June 4, were responded to while the GWR has yet to reveal if they accepted or rejected that of Onakoya (April 20).
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The member representing Musawa/Matazu Federal Constituency of Katsina State, Abdullahi, Ahmed has given a N35 million grant to 70 constituents with viable business plans to enable them to venture into business.
Speaking at the event held in Musawa on Sunday, the lawmaker said the initiative was geared towards offering business financial support and relief to individuals amidst the current economic downturn, to enable them to invest and generate a decent livelihood for necessities of life.
According to him, each of the 70 beneficiaries with viable business plans, selected from across the 21 political wards of the constituency, will receive N500,000 each as a non-refundable business grant to make them self-reliant and financially independent.
In a statement signed by Sardauna Francis, his spokesman, the lawmaker also distributed 100 tricycle-wheelchairs to persons living with disabilities and 2,500 bags of fertiliser to farmers in the constituency.
He said the gestures further underscore his commitment to supporting his constituents and driving inclusive socio-economic growth and development.
The lawmaker expressed confidence that the empowerment fund, wheelchairs, and fertiliser would help the beneficiaries to realise their full potential, contribute to the local economy, and create a brighter future for themselves and their families.
Ahmed, who is the Chairman of the House Committee on Interior, said: “These empowerment initiatives aim to cushion the current economic hardships and drive small-scale entrepreneurship as well as improved farming activities and assuage the sufferings of persons living with disabilities in the constituency.
“This is time for real. Our people have given us the mandate in March, and this is the time to bring meaningful development to Musawa/Matazu Federal Constituency through quality representation and sustainable dividends of democracy.”
The APC lawmaker pledged to remain committed to sustaining multi-sectoral interventions in agriculture, education, and road and health sectors of the economy for the betterment of his constituency.
He, however, added that he will continue to optimise his seat to propose bills, and motions and deploy other legislative instruments to enhance the standard of his constituents and the state at large.
The state acting governor, Faruk Lawal, while distributing the cash and other items to the beneficiaries, applauded the legislator for delivering pro-masses projects and urged other lawmakers in the state to emulate him.
He described Ahmed as an accomplished lawmaker and astute politician whose impact on his constituency and the state is worthy of commendation.
“Let me add that all these initiatives by the federal lawmaker are in line with the developmental agenda of Dikko Umaru Radda’s forward-thinking government of Katsina state,” he said.
Earlier in his address, the All Progressives Congress (APC) vice chairman in the state, Bala Abu, assured of the provision of a supervisory measure to ensure proper utilisation of the fund to multiply them into thousand folds within a short period.
He stated that the lawmaker has also donated 1,000 security lights to be installed across the constituency to improve the security of the area, and a donation of N50,000 each to all the traditional leaders that graced the occasion.
The APC stalwart averred that in the area of road infrastructure, Ahmed has awarded a new contract for the construction of a six-kilometre road in the constituency, and had virtually rehabilitated all the major roads in the area.
Maverick singer, Charles Oputa, popularly known as Charly Boy, has vowed to divorce his wife of 47 years if United States Vice President, Kamala Harris, doesn’t win the upcoming presidential election.
DAILY POST reports that President Joe Biden stepped down as the Democratic Party candidate on Sunday and endorsed his vice, Kamala Harris, as the party’s flagbearer.
Reacting via his X handle, Charly Boy said after the first Black male President in the person of Barack Obama, America deserves the first Black Female President.
He vowed to divorce his wife if Kamala Harris, who he described as his “crush” doesn’t win the election.
He wrote in Pidgin: “If dis my crush, Kamala Harris no win the USA presidential election, I swear, I go divorce my wife of 47yrs.
“After the first Black Male President, America deserves the first Black Female President.
“Sorry rednecks. Dats how we Roll.”
Kamala Harris is yet to be officially nominated as the Democratic Party’s candidate despite Biden’s endorsement.
According to The Hill, she has secured over a quarter of the delegates needed to win the Democratic Presidential nomination so far.
Pat Utomi Threatens To Sue Tinubu’s Aide For ₦500 Billion Over Accusation Against Peter Obi, Others
AFOLABI
A renowned political economist, Pat Utomi, on Monday, threatened to sue the special adviser on Information and Strategy to President Bola Tinubu, Bayo Onanuga.
Recall that Onanuga, in a post on X Platform, formerly (Twitter), accused the Presidential candidate of the Labour Party, Peter Obi, his supporters and Obidients of planning to stage nationwide protests against hunger, naira devaluation and economic hardship in the country.
In his post he said, “Obi should be held responsible for anarchy. Don’t be fooled: the malcontents planning to stage nationwide protests are supporters of Peter Obi, the failed presidential candidate of the Labour Party. And he should be held responsible for whatever crisis emanates from the action.
“The protest planners are also the same people who were instigated by IPOB leader Nnamdi Kanu to launch the destructive ENDSARS protest in Nigeria in October 2020.
“ENDSARS began as a genuine protest by youths against the Police Special Anti-Robbery Squad, notorious for its high-handedness.
“IPOB members planning to extricate the South East region from Nigeria infiltrated the protest and hijacked it for their own agenda.
“Lagos still bears the scar of the malicious destruction by IPOB elements until today. Two years after ENDSARS, the IPOB and the gullible innocents joined the Labour Party in 2022 to support Peter Obi, a sympathiser of their cause. They are the people spreading the hashtags ‘EndBadGovernance’, ‘Tinubu Must Go,’ and ‘Revolution2024’.
“They are not democrats but anarchists. They are attempting to call out our people via propaganda because their Messiah, Peter Obi, failed to win the Presidency in the 2023 election.
“As bad losers, they don’t have the patience to wait for another election in 2027; they would rather destabilise Nigeria by staging a civilian coup against President Bola Ahmed Tinubu.
“If they understand the meaning of their hashtags, they will realise they are clarion calls for treason. Wanting to end an elected government is high treason.
“Wanting revolution is a call for a coup d’etat, which is also high treason. I have been on the trail of one of the protest planners, who is nameless but claims to have an internet radio station, PTM100.88 Abuja.”
Utomi, in his reaction to the allegation against Obi and his supporters, advised Onanuga to withdraw his statement or provide evidence of his claims.
He warned that he would sue Onanuga and claim ₦500bn if he fails to provide sophisticated evident.
The full statement reads, “My attention has been drawn to a statement by Mr. Bayo Onauga, a spokesman for the presidency alleging that I have been a key player in demonstrations viewed as insurrection.
“Let me state first and foremost that I have no problem with protests. They are legitimate sources of feedback in a democracy. I have participated in several during military rule alongside some of those now in government. My reaction to Onanuga’s statement has therefore nothing to do with the legitimacy of the demonstrations but with the deliberate and outright falsehood of the statement.
“First, I have been living in the United States for several months now and was actually unaware of threats of demonstrations so I could not have been part of something I did not know was in the works.
“As a student of the State in post-Colonial Africa. I am horrified that agents of the State can fabricate deliberate falsehood.
“As I know phones are bugged there should at least be evidence of some contact between me and these ostensible demonstration planners. They do not even need to produce the conversation to show evidence but just a thread of contacts.
“If no evidence of Mr. Onanuga’s false assertion is shown I will assume it reasonable that the object is to water the ground for false treasonable felony charges that can result in the claim of one’s life. I intend to therefore proceed to the international criminal and other human rights courts if a reasonable explanation is not forth coming.
“I will also have no choice but to institute a claim of ₦500 Billon for of fake news, hate speech and intent to procure State murder of an innocent citizen. If judicial capture makes justice problematic in Nigeria I expect that I can trust extra-national institutions and global human solidarity.
“As one who survived two assassination attempts under Abacha of which there is public court records when some of those now in power were my colleague freedom advocates I am clear they know the consequence of their plotting.
“I have in a reaction on X already indicated that I meant to ignore the false assertion but I have been advised of a more sinister motive of State terror that should not be allowed to go unchallenged. In the plan apparently being instigated by Mr. Onanuga.”
The joint task force in the Northeast, Operation Hadin Kai, has successfully rescued another Chibok girl from the infamous Sambisa Forest in Borno State.
This significant development was announced by the Theatre Commander, Major General Waheed Shuaibu, during a formal handover ceremony at the Maimalari Cantonment in Maiduguri on Monday.
The rescued individual, identified as Ehi Abdul, aged 27, was one of the schoolgirls abducted by Boko Haram militants from Chibok in 2014.
Ehi was found alongside her two children during a recent operation conducted by sector one of Operation Hadin Kai in the dense Sambisa Forest.
According to Major General Shuaibu, Ehi was married to a notorious terrorist known as Abu Dada, who abandoned her in Gwoza in 2014 and subsequently fled to Senegal.
The successful rescue operation is part of the ongoing efforts by the Nigerian military to reclaim and secure territories held by terrorist groups and to rescue those held captive.
Ehi and her children have been handed over to the Borno State Government for rehabilitation and reintegration.
This rescue adds to the growing number of Chibok girls who have been found and returned to their families since the mass abduction over nine years ago.
The Borno State Government, led by Governor Babagana Zulum, has reiterated its commitment to supporting the rescued individuals and ensuring they receive the necessary care and assistance to reintegrate into society.