The Federal Government has rolled out plans to subsidise Compressed Natural Gas vehicle conversion kits by 50% for road transport union members across the country.

The Chief Executive Officer of the Presidential initiative on CNGi, Engr. Micheal Oluwagbemi, said it was part of its move to convert one million vehicles from PMS to Compressed Natural Gas (CNG) by 2027,

Oluwagbemi, who’s also the Programme Director of the P-CNGi, spoke at the Northern Stakeholders Engagement in Kaduna on Tuesday.

He said the Federal Government had procured over 20,000 conversion kits that would be immediately deployed for the conversion incentive programme.

This was even as he said that the P-CNGi had identified eight conversion centres in four states which include Kwara, Lagos FCT and Rivers that would pilot the programme.

He said, “we are launching what we called the Conversion Incentive Programme with members of the National Union of Road Transport Workers of Nigeria, Road Transport Employees Association of Nigeria and National Association of Road Transport Owners being our immediate focus. This is because they are the operators in the road transport sector providing 90 per cent of the transportation in the country to members of the public.

“We will be making the conversion kits available to them at 50% discount and we are also ensuring that the installation cost is free. We are already negotiating with our partners who will initiate that project in the next week.

“We have already identified eight conversion centres in four states, namely Kwara, Lagos FCT and Rivers that will pilot the programme. Immediately after that, we will start expanding to other conversion vent that we have identified and there are 120 of them across the country.”

He the subsidised conversion programme was part of President Bola Tinubu’s goal of having one million vehicles converted to CNG by 2027.

In his keynote address, Kaduna State Governor, Senator Uba Sani, commended the Federal Government’s initiative setting a phase in switching from petrol powered vehicles to Compressed Natural Gas powered vehicles particularly the buses category

The governor, who was represented by the state Commissioner for Works, Ibrahim Hamza, said transportation remained the backbone of the nation’s economy.

“Transportation is one of the major promoters of our socio-economic activities which deals with the movement of persons, goods and freight from one point to another,” he said.

Governor Dauda Lawal of Zamfara State has lamented there was no political will to eliminate banditry in the state and country.

Alleging the laid-back attitude of the police and the military in combating the menace of banditry plaguing the state, he said that the kidnapping-for-ransom trade, which was booming in the state can be eliminated in two weeks with the right political will.

He said that the uninspiring attitude of Federal Government-controlled security agencies was responsible for the creation of the state security outfit, Community Protection Guards in January.

The governor, who was featured on Channels Television’s Sunrise Daily programme, yesterday, said: “We, as governors, don’t have control over the military, we don’t have control over the police as well as the civil defence. In most cases, we get frustrated.

“When you need these people, they are nowhere to be found and the best thing to do is to set up that kind of security outfit.

“Sometimes, you’re really helpless. When you need them (security agents), they are not there. Even when they are there, they are given certain instructions on what to do and what not to do.

“In two weeks, we can take care of the situation but the political will is not there.

“We know who they (bandits) are. We know where they live. It’s just that there is no political will.

“At a point, I had to really come and say it clearly because when we are trying to take care of the situation, somebody somewhere is negotiating with the bandits without my knowledge,” he said, noting that the series of negotiations with bandits by previous administrations did not yield any positive results, hence there was no basis to continue with such venture which, he said, enrich the vicious marauders.

On the identity of those negotiating with bandits, he said: “To some extent, we do.”

Further, the governor said: “Zamfara State has become the hub of banditry in Nigeria. If you can take care of Zamfara today, you have solved more than 90 per cent of issues in northern Nigeria as a whole.”

Lawal said he had met with President Bola Tinubu to complain about the saboteurs to the security challenges in the state, noting that the President had assured him that something would be done to address the challenges.

On security outfits set up by states to complement security agencies in their states, he noted that these outfits have been handicapped in their operations due to several factors, including lack of license to bear assault rifles and superior weapons to confront deadly insurgents and criminals but governors were upbeat that with a constitutional backing, these outfits will live up to their full potential.

The World Bank yesterday affirmed its 3.3 per cent economic growth forecast for Nigeria in 2024 saying the nation’s economy was mildly buoyant in the early part of the year despite macroeconomic adjustments.

However, the World Bank downgraded its forecast for Nigeria’s economic growth in 2025 to 3.5 per cent, from the 3.7 per cent forecast made in January.

Similarly, the World Bank downgraded its forecast for Sub-Saharan economic growth in 2024 to 3.0 per cent from 3.8 per cent forecast made in January.

The report stated: “Growth in Sub-Saharan Africa (SSA) weakened to 3.0 per cent in 2023. Growth in the region’s largest three economies—Nigeria, South Africa, Angola—remained weak. In early 2024, private sector activity picked up, buoyed by a strengthening global economy.

At the same time, many economies in the region continue to struggle with weak government balance sheets, stemming partly from low revenue collection and high debt-service costs, while some also need to manage the adverse effects of currency depreciations. In Nigeria, growth slowed to 2.9 per cent in 2023. Despite ongoing macroeconomic adjustments, the economy was mildly buoyant in early 2024.

Growth in SSA is projected to pick up from 3.0 percent in 2023 to 3.5 percent in 2024 and about 4 percent annually in 2025-26, as fading inflationary pressures allow for interest rate cuts, which will support private consumption and investment.

Growth in the region’s largest three economies is expected to accelerate from 1.8 percent in 2023 to 2.4 percent in 2024 and an average of 2.6 percent in 2025-26. Yet, this is markedly below the region’s average growth. Non-resource-rich economies are forecast to maintain growth above their historical average rate, while resource-rich economies recover from their slow growth in 2023 that mainly reflected declining metal prices.

Delta North Senator, Ned Nwoko, has proposed a new minimum wage of ₦100,000 for Nigerian workers, saying anything below that would be an insult to workers.

The lawmaker asserted that with the current economic situation in Nigeria, it would be difficult for workers to survive and live a normal life with a minimum wage of less than ₦100,000.

He argued that in determining the eventual minimum wage, the government must be realistic in its evaluation of the economic situation in the country.

Speaking at an award event in Abuja, Nwoko said: “There are so many problems in Nigeria, from the economy to security issues, minimum wage and all of that. If you ask me about minimum wage, I will say that at least, everybody deserves a raise. Even if we say N100,000, I will think it is the ideal thing. But look, what can N100,000 do for anybody? Tell me, how many bags of rice can that buy? How many fuel tanks can that fill? So, we have to be realistic about our economy.

“Government is meant to provide an environment for those who are doing business to do well or create jobs where possible. But we must have a minimum wage. It is not very good, to put it mildly, when people are paid minimum wage that is abysmal and they are not able to achieve the basic needs of life.

“So, I think that a minimum wage of N100,000 is not out of place. That should be the beginning. That kind of amount should be what we should be looking at. Anything less than that is an insult to the civil servant.”

Speaking further, the federal lawmaker expressed support for the proposed ban on open grazing.

He submitted that it is a welcome development which is in the interest of everyone including the farmers and herders.

“It is in the interest of Nigerians, especially the cattle owners, herders and farmers. Everyday, we hear stories of famers/headers clashes. It is either the farmers are killed by armed herdsmen or the herders suffer one casualty or the other. So, with the ban, there won’t be any losses. Everybody deserves to live and move freely as good citizens. Again, owners of cows and herders will benefit a lot. I was discussing with an armed herder on why he was carrying AK 47. He said it was to protect himself and his cows from thieves and cattle rustlers. You can see that while the ban will save farmers, it can also save the herders from being attacked. Second, this movement of cows from one state to another makes our cows look emaciated. If a cow is feeding in one place, it will be well fed and look good. Look at the cows from Morocco and other countries that practice ranching, their cows look well fed, healthier and big. Let’s leave sentiment alone and move this country forward. There is more to gain than to lose with a complete ban on open grazing,” Nwoko submitted.

The Peoples Democratic Party (PDP) has launched a scathing critique against the ruling All Progressives Congress (APC), accusing it of foisting hardship on Nigerians and desecrating the democratic principles established by the late Chief MKO Abiola.

The opposition party asserts that the current socio-economic challenges faced by the populace are a direct result of the policies implemented by the APC.

In a statement released on Tuesday, the PDP spokesperson lamented that the situation in the country had deteriorated under the APC’s governance, leading to widespread discontent and anger among the citizens.

The party highlighted that the economic strategies and governance failures of the APC have not only stifled economic growth but have also significantly eroded the democratic gains made in past decades.

Furthermore, the PDP claims that the APC has failed to uphold the democratic legacies of Chief MKO Abiola, whose struggle for democracy remains a significant milestone in Nigeria’s history.

According to the PDP, the APC’s actions have betrayed the ideals of justice, fairness, and equity that Abiola championed until his death.

PDP in a statement by its National Publicity Secretary, Debo Ologunagba, charged Nigerians to use the occasion of this year’s Democracy Day to “speak against the anti-democratic tendencies of the APC which is asphyxiating, inflicting hardship, trampling on the Will and rights of the citizens and seeking to foist a totalitarian system on our nation”.

“It is distressing that our nation is observing the Democracy Day under a system that relishes in brazen violation of the Constitution, election rigging, stifling and manipulation of opposition, muzzling of dissenting voices; undermining the judicial system and other democracy institutions in desperation to turn Nigeria into a one-Party State.

“More disquieting is that all the progress and gains made by successive PDP administrations in entrenching democratic practice in Nigeria have been reversed by the APC administrations.”

The main opposition party said the recent opening of the N21 billion luxury mansion for Vice President Kashim Shettima by President Bola Ahmed Tinubu, “in a country of collapsing infrastructure; with over 40% unemployment rate; where millions of citizens are literally starving; and where our schools and hospitals lack the basic operation equipment and tools is only a glimpse into the insensitivity, arrogance, impunity and reckless misdirection of resources that pervade the APC administrations.

“Our Party urges President Tinubu to use the occasion of Democracy Day to have a deep reflection on the state of the nation under his watch, especially given the growing public agitation over hunger and high cost of living in the country.

“The PDP again reminds President Tinubu that there is destitution in the land and that the reaction of a hungry people is better imagined. Mr. President should, in keeping with democratic tenets, listen to Nigerians and review policies that are suffocating life in the country.”

PDP said democracy is about the supremacy of the Will of the people, the Rule of Law and the pursuit of the security and wellbeing of citizens, but such ideals have “been completely violated by the APC administrations which leaders have no respect for public opinion but delight in burdening the people through multiple taxes and looting of treasury to finance their luxury appetite while subjecting other Nigerians to a life of fear, uncertainty, despondency and abject poverty.

“It is saddening that instead of celebrating freedom and good governance; the very of essence of democracy which Chief MKO Abiola stood for; Nigerians are in anguish over the exploitive, ill-implemented anti-people policies and programmes of the APC which has weaponized poverty in the country.

“The increase in fuel price and hike in electricity tariff with no corresponding tangible policy or programme directed towards the welfare of the people further show the anti-people stance of the APC administrations.” the statement said.

Nigerian singer, David Adeleke, popularly known as Davido, has officially confirmed the date of his wedding with his wife, Chioma.

Naija News reported that celebrity blogger, Stella Dimokokorkus, in a post via her Instagram page on Tuesday, said Davido picked June 25, 2024, for the conduct of their official traditional wedding ceremony.

The news of the traditional wedding between the couple, who recently welcomed twin children together, generated excitement among the family members from both sides.

According to Dimokokorkus, “The News you have been waiting for is here!!! Singer Davido is set to wed Chioma, the mother of his twins in a proper traditional wedding ceremony set to hold at the Eko Hotel in Lagos in 2 weeks time.

“Stella Dimoko Korkus sources say that there is excitement in both families as it would be an event that would bind them in love and strengthen family ties….. The Traditional wedding according to sources will hold on June Twenty fifth twenty twenty four.

“The sources responded to questions on why it has been fixed for this date with ”Only Chioma and Davido know why they picked this date but it is something everyone has been looking forward to happening. CONGRATULATIONS!!!”

Confirming the news, Davido, during his visit to London-based celebrity pastor, Tobi Adegboyega, was heard in a video shared online, telling people about the upcoming wedding.

Watch the video below:

President Bola Tinubu, on Wednesday, charged Nigerians to bear the excruciating pain occasioned by harsh economic policies of his government.

According to Tinubu, the policies are necessary to put the nation on a sound economic position.

The President stated this in a national broadcast to mark the 25th anniversary of unbroken democracy in Nigeria and the 2024 democracy day.

The statement reads,

 “My fellow Nigerians, let me begin by congratulating all of us for witnessing the celebration of another Democracy Day today, the 12th day of June 2024. This year also marks our nation’s 25 years of uninterrupted democratic governance.

“On this day, 31 years ago, we entered our rites of passage to becoming a true and enduring democratic society.

“Going through this passage was hard and dangerous. During the fateful six years that followed, we fought and struggled for our natural rights as human beings put on this earth by the divine hand of our Creator.

“We lost great heroes and heroines along the way. In this struggle, the winner of the June 12, 1993 presidential election, Chief MKO Abiola, the most significant symbol of our democratic struggle, his wife, Kudirat, General Shehu Musa Yar’Adua and Pa Alfred Rewane, among others sacrificed their very lives.

“They bravely surrendered their futures so that our nation might have a better one.

“Let us honour the memories of Chief Anthony Enahoro, Chief Abraham Adesanya, Commodore Dan Suleiman, Chief Arthur Nwankwo, Chief Chukwuemeka Ezeife, Admiral Ndubuisi Kanu, Chief Frank Kokori, Chief Bola Ige, Chief Adekunle Ajasin, Chief Ganiyu Dawodu, Chief Ayo Fasanmi, Chief Gani Fawehinmi, Chief Olabiyi Durojaiye, Dr. Beko Ransome-Kuti, Chima Ubani, and others who have transited to the higher realm.

“The sacrifices of General Alani Akinrinade, Professor Bolaji Akinyemi, Professor Wole Soyinka, Chief Ralph Obioha, Chief Cornelius Adebayo, among many others, should never be forgotten. For at least six years, they bore the pains and difficulties of life in exile.

“While the exiled pro-democracy activists kept the fire burning, their comrades at home sustained the pressure on the military brass hats. Among the latter are Olisa Agbakoba, Femi Falana, Abdul Oroh, Senator Shehu Sani, Governor Uba Sani, Chief Olu Falae, and other National Democratic Coalition leaders such as Chief Ayo Adebanjo and Chief Ayo Opadokun.

“The sacrifices they made, and the precious gift brought about by their selfless devotion can never be repaid. Neither shall it be forgotten.

“We could not have won the battle against military dictatorship without the irrepressible Nigerian journalists who mounted the barricades along with the pro-democracy activists. We celebrate them today, along with their media establishments such as The Punch, Guardian, National Concord, Tribune, The News/Tempo, and TELL Magazines. Military authorities proscribed these media establishments and jailed their journalists for standing for free speech and civil liberties.

“Despite the lethal might of the military government, what appeared to be high and unyielding walls of dictatorship came tumbling down. The dismal fortress exists no longer.

“The power of an idea, the power of the people proved more potent than all the guns and munitions, and the threats of the strongmen.

“The nation exited the yoke of military rule in 1999 to become the most populous democracy on African soil, the beacon of democratic self-determination for the black race and one of the largest democracies in the world.

“This change stands as a pivotal moment in human history. From this change, we shall never turn, nor shall the annals of mankind’s progress forget the sublime meaning of this great moment.

“Today, 25 years later, we celebrate the silver anniversary of our journey in democracy.

“We have steadied the course.

“Democracy is neither a foreign nor abstract concept devoid of real-life meaning for us. Neither can we afford to reduce or minimalise it to being nothing but the mere holding of periodic elections where one candidate and party outdo another.

“While elections attract dramatic attention, they are but one aspect of democracy. Democracy is a way of life that encompasses a broad outlook of which elections are but a part. As such, a nation can have elections without being democratic. But a nation cannot be truly democratic without holding elections.

“That we have established a tradition of holding transparent, open, and fair elections gives credence to our democratic bearing. That we have experienced peaceful transitions of government affirms our democratic temperament.

“Fellow Nigerians, true democracy shines its light into the daily lives of the people who live under its nurturing wings. It affords us the freedom and liberty to think as we want, live where we want and pursue whatever legitimate endeavour that suits us.

“Democracy does not assume some false or forced unity of opinion. In fact, democracy assumes that conflicting ideas and differing opinions shall be the order of the day. Given the diversity and variety of the human experience, there must be diverse perspectives and viewpoints.

“What democracy demands is that we do not resolve differences through force and repression. But we make allowance for the legitimacy of views that differ from our own.

“Where other forms of government impose against the will of the people, democracy aims to make leaders sufficiently humble that they conduct themselves as servants of the common good, not as viceroys of the narrow interests of the mighty.

“My dear compatriots, Nigeria faced a decision of untold gravity twenty-five years ago: Whether to veer toward a better destination or continue aimlessly in the fog of dictatorship.

“We made the right choice then. We must continue with that choice now.

“As Nigerians, we must remind ourselves that no matter how complicated democracy may be, it is the best form of governance in the long run. We must also be aware that there are those among us who will try to exploit current challenges to undermine, if not destroy, this democracy for which so much has already been given.

“These people do this not to make things better but to subject all other people and things to their control and dominance until the point that, if you are not counted among their elite, then your life will be small and no longer owned by you.

“This is the great battle of our day and the major reason we specially celebrate this Democracy day.

“Fellow Nigerians, our Democracy is more than a historic fact. It is a living, breathing reality.

“The true meaning of this day is not to focus solely on the great deeds of the past that have brought us to this point.

“Yes, we pay eternal honour to those who laid down their lives, sacrificing everything to pave the way for the nation.

“I stand uniquely placed in this regard. I was among those who took the risk to midwife the birth of our democracy. I am now a direct and obvious beneficiary of the fruits of those historic efforts.

“As president of this nation, I am morally and constitutionally bound to preserve this precious form of governance. I vow to do my utmost best to protect your rights, freedoms, and liberties as citizens of Nigeria.

“Even more than that, I pledge to do whatever is necessary to cement democracy as our way of life.

“Although the challenges are steep and multiple, I am grateful to lead Nigeria at this moment in her history and point in her democratic journey.

“I come before you also to declare that our most important work remains before us. This real test has never been whether we would rise to challenge the slings of misfortune and grievous pain of dictatorship.

“The real test is whether we shall lower our guards as the shadow of despotism and its evident physical danger fade.

“I say to you here and now that as we celebrate the enshrinement of our political democracy, let us commit ourselves to the fulfilment of its equally important counterpart, the realisation of our economic democracy.

“I understand the economic difficulties we face as a nation.

“Our economy has been in desperate need of reform for decades. It has been unbalanced because it was built on the flawed foundation of over-reliance on revenues from the exploitation of oil.

“The reforms we have initiated are intended to create a stronger, better foundation for future growth. There is no doubt the reforms have occasioned hardship. Yet, they are necessary repairs required to fix the economy over the long run so that everyone has access to economic opportunity, fair pay and compensation for his endeavour and labour.

“As we continue to reform the economy, I shall always listen to the people and will never turn my back on you.

“In this spirit, we have negotiated in good faith and with open arms with organized labour on a new national minimum wage. We shall soon send an executive bill to the National Assembly to enshrine what has been agreed upon as part of our law for the next five years or less.

“In the face of labour’s call for a national strike, we did not seek to oppress or crack down on the workers as a dictatorial government would have done. We chose the path of cooperation over conflict.

“No one was arrested or threatened. Instead, the labour leadership was invited to break bread and negotiate toward a good-faith resolution.

“Reasoned discussion and principled compromise are hallmarks of democracy. These themes shall continue to animate my policies and interaction with the constituent parts of our political economy.

“I take on this vital task without fear or favour and I commit myself to this work until we have built a Nigeria where no man is oppressed.

“In the end, our national greatness will not be achieved by travelling the easy road. It can only be achieved by taking the right one.

“The words of the American President Franklin Roosevelt certainly ring true:

“There are many ways of going forward. But only one way of standing still”!

“We dare not slumber lest the good things awaiting our immediate future pass us by. We dare not plant our feet in idle standstill in the middle of the intersection of hope and despair.

“We know the proper way forward and we shall take it!

“The initial rays of a brighter tomorrow now appear on the early horizon. An abundant future and our capacity to achieve that future lie within our reach. Democracy and the institutions it begets offer to take us to our profound destination.

“Let us board this progressive train together. Together, let us move Nigeria forward.

“Let’s continue to keep the fire of democracy burning. Let’s keep the torch lit for generations to come.”

The approval of former President Muhammadu Buhari for the re-design of Nigeria’s currency, the Naira, was on Tuesday tendered and admitted as exhibit before the High Court of the Federal Capital Territory (FCT) in Abuja.

The approval dated October 6, 2022 from the State House and personally signed by the former President was conveyed to the Central Bank of Nigeria (CBN) under Godwin Emefiele as governor to proceed with the project of redesigning and printing of the currency.

The Chief of Staff to President Buhari was said to have transmitted the written Presidential approval to the CBN.

Also tendered and admitted as exhibits are samples of the re-design currency as approved by Buhari.

The documents were tendered by the Economic and Financial Crimes Commission (EFCC) through its witness and former Director of Currency Operations at the Central Bank of Nigeria (CBN), Mr Ahmed Bello Umar.

The witness was led in evidence by EFCC’S lead counsel, Mr Rotimi Oyedepo, a Senior Advocate of Nigeria, SAN.

Umar who claimed to have authored some memos in relation to the project, however revealed that Emefiele partly departed from the approval of the former President.

Among others, the witness said that while the portraits in the samples endorsed by Buhari were on the right side, those printed have the portraits on the left side.

The former Director of Currency Operations at the CBN also claimed that the numbering styles for the currency adopted by Emefiele were different from the modes adopted by CBN under Emefiele.

Similarly, the witness said that while the approved samples have QR code, those printed did not have the features.

Under cross examination by Mahmoud Magaji, SAN, counsel to Emefiele, the witness admitted that Buhari actually approved the Naira redesign project.

He also admitted that Buhari on December 29, 2023 publicly launched the re-designed Naira currency for the use of Nigerians as legal tender.

The witness also admitted that the re-designed currency has his own signature as Director of Currency Operations adding that no currency becomes legal tender without his own signature.

The EFCC had on May 15, 2024 arraigned Emefiele on a four count charge before Justice Maryanne Anenih of the FCT High Court sitting in Maitama, Abuja.

Emefiele however denied the charge and was admitted to bail in the sum of N300 million.

In the four count charge, the anti-graft agency claimed that Emefiele embarked on the Naira redesign without the approval of the Board of the CBN as well as then President, Muhammadu Buhari.

Specifically, the EFCC accused Emefiele of approving the printing of various quantities of the new Naira notes “without the recommendation of the Board of Central Bank and the strict approval of the President, Federal Republic of Nigeria which conduct of yours caused injury to the public and you thereby committed an offence”.

While in count one he was accused of approving the printing of 375,520,000 notes at the cost of N11 billion, in count two he was accused of approving the printing of 172 million coloured swapped N500 notes at the cost of N4.4 billion.

Also in count three, the former CBN boss was alleged to have approved for printing 137,070, pieces of coloured N200 notes at the cost of N3.4 billion.

He was, in count four, alleged to have withdrawn the sum of N124, 860, 227, from the Consolidated Revenue Fund of the Federation in a manner not prescribed by the National Assembly.

A former Central Bank of Nigeria, CBN, Director of Currency Operations, Ahmed Umar, has disclosed that the immediate past governor, Godwin Emefiele, printed his own design of the naira.

Umar disclosed this while giving evidence at the Federal Capital Territory, FCT, High Court sitting in Maitama.

The former CBN director said the features in the design approved by former President Muhammadu Buhari was different from the one Emefiele ordered to be printed.

Umar said, “The design approved by the President had a QR code, which the currency in circulation does not. The positioning of the portrait was on the right side, that printed by the CBN was on the left and the number scheme approved by the President is different from what the CBN produced.”

The Economic and Financial Crimes Commission, EFCC, had on May 15, arraigned Emefiele on a four count charge before Justice Maryanne Anenih of the FCT High Court.

Emefiele however denied the charge and was admitted to bail in the sum of N300 million.

The Naira yesterday depreciated in the parallel market to N1,490 per dollar from N1,470 per dollar last week.

However, the Naira appreciated to N1,483.62 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM. 

Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,483.62 per dollar from N1,483.99 per dollar last weekend, indicating 37 kobo appreciation for the naira.
The volume of dollars traded in NAFEM fell by 40 percent to $161.69 million from $269.27 million traded Friday last week.

Consequently, the margin between the parallel market and NAFEM rates narrowed to N6.38 per dollar from N185.67 per dollar last week Friday.