Florin Talapan, ambassador of Romania to Nigeria, says his country will increase scholarships for prospective Nigerian students.

Talapan spoke on Friday when he presented his letter of credence to President Bola Tinubu at the State House, Abuja.

“Nigeria is a second home to me, and I have lived here for many years. I have to give back every good thing I have received from Nigeria,” a statement issued by Ajuri Ngelale, presidential spokesperson, quoted the ambassador as saying.

“My country is looking towards a strategic alliance with Nigeria in the areas of education, energy, and defence.”

Tinubu also received letters of credence from Lincoln Downer and Leilani Bin-Juda, high commissioners of Jamaica and Australia, respectively.

During separate meetings, Tinubu assured the ambassadors of Nigeria’s support for a rewarding stay.

The president reaffirmed his government’s commitment to maintaining an open-door policy toward strengthening existing economic, cultural, and diplomatic relations.

In his conversation with Downer, the president spoke of Nigeria’s readiness to reactivate energy cooperation with Jamaica, particularly in the context of climate change and the utilisation of gas as a transition fuel.

”The essence of a relationship is to understand one another. With Nigeria’s energetic and talented youth, we have a cultural affinity with Jamaica and a lot of potential for cooperation in the areas of culture and tourism that will benefit the youth populations of both countries,” Tinubu said.

The high commissioner conveyed his prime minister’s willingness for a relationship with Nigeria and announced plans for a Jamaican business delegation to visit the country later this year.

Downer also invited Nigerian investors to explore opportunities in Jamaica’s special economic zones.

Speaking with Bin-Juda, Tinubu acknowledged the shared values and interests between Nigeria and Australia.

He called for more cooperation in mining, given Australia’s leading position in iron ore export.

“The Minister of Solid Minerals was in Australia recently, and we look forward to further collaboration in this area. We are also ready to deepen our mutual cooperation in the area of education,” Tinubu said.

In response, the Australian high commissioner expressed readiness for further collaboration.

He extended an invitation to Tinubu to consider visiting Australia during the Commonwealth Heads of Government meeting (CHOGM) in Samoa.

The immediate past governor of Kaduna State, Mallam Nasir El-Rufai is preparing to fight President Bola Tinubu in at least two courts, according to Vanguard report.

The prospects of the battle are to be staged in the courts of the land where El-Rufai expects to clear his name of the allegation of being a security risk, and also in the court of public opinion where political actors expect him to be a major barricade to the president’s re-election in 2027.

The stage for the coming battle follows what both friends and foes of the former governor assert as his public humiliation by the Tinubu administration of being a security risk unfit for ministerial office.

In a way that has garnered public interest, Mallam as he is fondly referred to by his close associates, has excited the political class with gyrations across the North in the last two weeks.

Besides two public meetings with the Social Democratic Party, SDP chiefs, the former governor has consolidated his identity with the political opposition with a visit to the suspended lawmaker representing Bauchi Central Senatorial District, Senator Abdul Ningi.

The proclivity towards the opposition follows what friend and foe describe as the public humiliation served on the former governor.

El-Rufai according to multiple sources despite his immense contributions both strategically and financially to the emergence of Tinubu as president had pledged not to serve in the new government.

The former governor had reportedly preferred a sabbatical in academia.

He was, however, courted by the president with a plea to help revive the energy sector. Even before his ministerial announcement, El-Rufai it was gathered had started laying down plans and processes to tackle the sector. His preparation flowed from his years as director-general of the Bureau for Public Enterprises, where he was involved in the energy reform programmes of the Olusegun Obasanjo administration.

However, to the shock of all El-Rufai was dropped during the Senate ministerial screening on the claim that he failed security clearance.

The shock of the failure to get a security clearance numbed several political actors given his strategic role in moving the hands of Northern governors to back Tinubu ahead of the All Progressives Congress, APC convention. Besides, it was gathered that the former governor played key roles in facilitating the election of the president in some Southwest states not controlled by the APC.

A senior government official from one of the Southwest states on the condition of anonymity said:

“He played a key role in funding us in my state and I can tell this because I was personally involved,” the official from one of the Southwest states said.

Besides the significant contribution as attested by the official from the Southwest State, El-Rufai in the twilight of the Muhammadu Buhari administration also shocked many with his decision to, along with others challenge the Federal Government over the naira redesign project of the federal government.

Defending why he opposed the Buhari government on the naira redesign policy, El-Rufai had claimed it was meant to instigate the polity against the APC by those around the former president who failed in their bid to stop Tinubu from getting the presidential ticket.

“They also sought to achieve any one or more of the following objectives: create a nationwide shortage of cash so that citizens are incited to vote against APC candidates across the board resulting in massive losses for the Party in all the elections.”

However, despite his stellar role in helping Tinubu to power, a source close to El-Rufai disclosed that the camp of the former governor believed that it was wrong for him to have been so publicly humiliated and to have been tagged a security risk.

One of the confidants of the former governor told Saturday Vanguard:

“You think Mallam will allow this tag to abide on him? I can assure you that he is going to clear his name in court.

El-Rufai is a man who has many contacts internationally and he is not one to allow his reputation to be smeared by the reason given by the Senate of being a security risk,” the source said in revealing the prospects of court action to enable the former governor to clear his name.

Besides the resort to the court of law, the former governor it was gathered is also mobilising to play a role against Tinubu in the court of public opinion ahead of 2027.

Whether El-Rufai would stand as a candidate or mobilise against the president in 2027 in the same way he did in supporting him in 2023 is, however, a matter that is yet to be determined.

Saturday Vanguard reports that the strategic facilitation provided by El-Rufai to Tinubu came after he had in the past lampooned Tinubu as a godfather. He had at a lecture in May 2019 averred that it was possible to defeat the godfather of Lagos.

A year later at a webinar to commemorate the 63rd birthday of Rauf Aregbesola in May 2020, El-Rufai had said that Tinubu was not his man.

While congratulating Aregbesola, El-Rufai said, “I want to congratulate my brother, Ogbeni (Aregbesola), on his birthday. You know I’m your man any day. I’m not Asiwaju’s man and you are Asiwaju’s man, but I am your man any day. Asiwaju and I have differences but you and I have no differences.”

Despite the public outcry trailing the recent 230.8 per cent rise in electricity tariff for premium power consumers nationwide, the federal government yesterday, hinted that it plans to extend a similar measure to every Nigerian who has access to on-grid electricity.

The government said it would convert the entire power sector into a single band from the current six, with cost-reflective prices being fully implemented in the next three years.

Speaking during a weekly briefing organised by the Ministry of Information in Abuja, the Minister of Power, Chief Adebayo Adelabu, said the recent development was the first step in government’s plan to completely remove subsidy payment.

Also, yesterday, the Nigerian Electricity Regulatory Commission (NERC) sanctioned the Abuja Electricity Distribution Company (AEDC) for violating its order on customer classifications.

However, the Northern Elders Forum (NEF); former Vice President and the presidential candidate of the Peoples Democratic Party (PDP) in the 2023 election, Atiku Abubakar, and President of the Nigeria Labour Congress (NLC), Joe Ajaero, have faulted the recent increase in electricity tariff by the present government led by President Bola Tinubu.

In a separate document seen, the Nigerian Electricity Regulatory Commission (NERC), stressed that with the increase in tariffs for Band A customers from N68 to N225, it has succeeded in saving about N1.4 trillion from what it stated was the projected N3.2 trillion subsidy for 2024.

At the current price of N225, it argued that premium customers would be paying less than half of what they would otherwise spend if they deployed other alternatives like diesel-powered generators.

But Adelabu maintained that it no longer makes sense for the government to continue paying close to 70 per cent of electricity subsidy for Nigerians, explaining that to ensure the current economic downturn does not harshly impact the lower wrung of the society, government would embark on the gradual phase-out of underpayments for bands B-E and then lifeline.

Adelabu, said the federal government had spent about N2.9 trillion on electricity subsidy.

He said the government was still subsidising 85 per cent of electricity supply in the country despite increase in tariff for Band A customers.

He said the government remains pro-poor in its power policy because it is subsidising nothing less than 67 per cent of the cost of producing, transmitting, and distributing electricity in Nigeria.

He said the government is not ready to aggravate the sufferings by refusing to adopt 100 per cent withdrawal of subsidy on electricity

“This tariff review is in conformity with our policy thrust of maintaining a subsidised pricing regime in the short-run or the short-term with a transition plan to achieve a full cost reflective tariff for over a period of, let us say three years.

“It is because of government sensitivity to the pains of our people that will not make us migrate fully into a cost-reflective tariff or to remove subsidy 100 per cent in the power sector like it was done in oil and gas sector.

“We are not ready to aggravate the sufferings any longer which is why we said it must be a journey rather than a destination and the journey starts from now on, that we should do a gradual migration from the subsidy regime to a full cost-reflective regime and we must start with some customers.

“This is more like a pilot (scheme) for us at the Ministry of Power and our agencies. It is like a proof of concept that those that have the infrastructure sufficient enough to deliver stable power, those enjoying 20 hours of light should be the ones to get tariff added,” he pointed out.

Adelabu, argued that anybody that goes into any business intends to first recover cost, then if possible, make some profit, explaining that the moment a business cannot cover costs, the sustainability of such business is doubtful and will be run aground.

He observed that if the federal government was to pay the about N3 trillion subsidy for this year, it would be more than 10 per cent of the national budget for 2024.

“The power sector is just a single sector out of so many sectors that government has to attend to. We have works, we have housing, we have education, we have health, we have defence and so on that are all competing for this meagre revenue from the government.

“So it will be very insensitive on our part to force or compel government to continue to subsidise at that rate of almost N3 trillion for the power sector alone. We just have to be realistic and considerate. We also must ensure that the regulators are independent and there is consequence management,” he stressed.

With a little above 12 million registered electricity customers nationwide, Adelabu said the recent increase would only affect about 1.5 million customers.

The remaining 10.5 million customers, he said, would continue to enjoy government subsidy at about almost 70 per cent, until it is gradually phased out.

He emphasised that if the Discos are able to comply with the service level agreement, which is 20 hours for Band ‘A’ at the minimum, it is still far cheaper than the alternative source of diesel and petrol generators.

“You will agree with me that the average cost of generating a kilowatt hour of power today, using diesel and petrol generator is not less than N450 to N500 because of the capital investment of purchasing the generator, the daily operational fuelling of the generator and the intermittent servicing of these generators.

“The cost is not less than N500. So, if we are putting the tariff at N225, I believe it is more than 50 per cent cheaper than running alternative power sources,” Adelabu maintained.

He stressed that for the first time in many years, government was taking a bold step to address the fundamental issues confronting the power sector, including liquidity and pricing challenges.

The minister emphasised that the sector had been deprived of the required liquidity to keep it running on a sustainable level and is therefore no longer attractive to investors.

“Even the operators don’t have enough liquidity to invest in enhancement of their infrastructure. The generator companies cannot pay the gas companies, which is the raw material that they use to generate power. The generator companies cannot service their equipment.

“It got to a level that they cannot even pay the salaries of their workers because of the accumulated debt in the sector due to lack of liquidity and commercial pricing.

“And I believe that previous administrations have shied away from addressing this. It is a tough conversation, but we must have it at a point if we are serious about stable power sector in this country,” he added.

He assured that it might be painful in the short run, but the gains will come very soon and will be permanent.

At the moment, he stated that all Nigeria’s gas pipelines are bad as a result of vandalism, leading to a lack of adequate pressure in the gas pipes.

Former Vice President Atiku Abubakar has accused the men working with President Bola Tinubu of pushing the economy into deeper crisis even as he said reforms being introduced by the administration lacked human face.

The presidential candidate of the Peoples Democratic Party (PDP) in the 2023 election stated this in a statement criticising the recent hike in electricity tariff, saying it will impose additional hardship on already suffering Nigerians.

“The President’s men are pushing the economy into a deeper crisis. His reforms are without a human face,” Atiku said in the statement.

The former PDP presidential flagbearer also emphasized that the increment on electricity tariff will have negative impact on the manufacturing industry.

He therefore advocated the need for the government to understand the root cause of the inefficiencies in the power sector before unleashing another dose of reforms, insisting that it was time to revisit the privatisation exercise that produced the Distribution Companies (DISCOs).

Atiku also accused the government of adding another reforms without adequate notice and without sufficient post-reform plan to mitigate the associated pain on the people.

He said the upward review in electricity tariff comes at a time when Nigerians were going through excruciating difficulties occasioned by the withdrawal of subsidy on PMS and floating of the Naira.

While noting that the government has not successfully dealt with the pains associated with the implementation of those measures, Atiku said the hike in electricity tariff will create more difficulties for the citizens as inflationary pressures are elevated.

“Our manufacturing sector will similarly be impacted negatively. Not only are they paying higher interest rates on their bank loans but also paying more for diesel, paying higher wages as a result of the new minimum wage,” he noted.

He then charged the president to ensure that his reforms are introduced in sequence with measures in place to mitigate associated pains while holding the Nigerian Electricity Regulatory Commission (NERC) responsible for enhanced delivery.

“Tinubu must (a) ensure that these reforms are sequenced, (b) implement measures to mitigate the pain, and (c) hold the NERC responsible for ensuring improved service delivery,” Atiku said.

The Economic and Financial Crimes Commission will on Monday, April 8, 2024, arraign the embattled former Central Bank of Nigeria governor, Godwin Emefiele at the Ikeja State High Court in Lagos for alleged abuse of office over allocation of billions of United States dollars.

Emefiele alongside his co-defendant, one Henry Isioma Omole, will be arraigned on 26 counts before Justice Rahman Oshodi.

The charge, marked ID/23787c/2024, dated April 3, 2024, was filed by Mr Rotimi Oyedepo (SAN).

EFCC alleged that Emefiele committed abuse of office between 2022 and 2023, in Lagos, of abuse of office.

The commission alleged that Emefiele “directed to be done in abuse of the authority of your office, as the Governor, Central Bank of Nigeria, an arbitrary act, to wit: allocating foreign exchange in the aggregate sum of $2,136,391,737.33 without bids, which act is prejudicial to the rights of Nigerians.”

EFCC, further alleged that Emefiele between 2020 and 2021, in Lagos, “directed to be done in abuse of the authority of your office, as the Governor, Central Bank of Nigeria, an arbitrary, act to wit: allocating foreign exchange in the aggregate sum of $291,945,785.59, without bids, which act is prejudicial to the rights of Nigerians.

Emefiele was alleged to have, in 2021, in Lagos, “directed to be done in abuse of the authority of your office, as the Governor, Central Bank of Nigeria, an arbitrary act, to wit: special allocation of foreign exchange in the aggregate sum of $1,769,254,793.16, which act is prejudicial to the rights of Nigerians.”

In count four, the sum involved was $370,872,893.01.

Emefiele’s co defendant Omoile was alleged to have November, 17, 2020, in Lagos, whilst acting as an agent accepted from Raja Punjab through Monday Osazuwa, the total sum of $110,000, for Godwin Ifeanyi Emefiele, gifts as reward for allocating foreign exchange by the Central Bank in favor of Raja Punjab’s employer.”

According to the charge the offences committeed contravened Section 73 of the Criminal Law of Lagos State, 2011.

Meanwhile, President Bola Tinubu, on Friday, thanked the Central Bank Investigator, Mr Jim Obazee, for his services, officially closing the months-long investigation.

“Subsequent to the conclusion of the assignment and the submission of a final comprehensive report, and with the winding up of all apparatuses used during the scope of the task which terminated on March 31, 2024, the investigation is formally closed,” a statement signed by the President’s Special Adviser on Media and Publicity, Ajuri Ngelale, read Friday evening.

The statement is titled, ‘President Tinubu thanks Jim Obazee as special investigator of the CBN at conclusion of investigation.’

Tinubu noted that with the investigations closed, all appropriate law enforcement and regulatory agencies have since begun conducting follow-up action.

The President commended Mr. Obazee for the dedication and professionalism he exercised in handling the complexities of this critical national assignment.

He thanked the CBN investigator for answering the call of duty while wishing him success in his future endeavours.

On 30 July 2023, the President appointed Jim Obazee, Chief Executive Officer of the Financial Reporting Council of Nigeria, as a special investigator to probe the Central Bank of Nigeria and related entities.

The President of the 8th Senate, Dr. Abubakar Bukola Saraki, is not interested in becoming the National Chairman of People Democratic Party (PDP), a top aide of the former Kwara State governor, Akintoba Fatigun, has revealed.

Saraki is one of the leading candidates being touted from the North-Central zone of the country as the likely next PDP national chairman to replace Dr. Iyorchia Ayu, who was forced out of office by a court order in 2023. Ayu hails from Benue State, same North-Central as Saraki.

But, Fatigun, a political adviser to Saraki, in a chat with newsmen on Friday said his principal wasn’t contemplating occupying the PDP national chairman position, describing Saraki’s decision on the matter as a “cast in rock”.

He added that the former Senate President has since communicated his ‘no show’ decision to the North-Central leadership of the biggest opposition party.

Recall that the North-Central zone has called on Amb. Iliya Damagum to relinquish the acting national chairmanship seat and allow the emergence of a substantive national chairman from the region where the party originally zoned the position to in 2021.

The PDP had fixed April 18, 2024, for its crucial National Executive Committee (NEC) meeting where the modalities for choosing the next national chairman of the party would be discussed and adopted.

The lagos government to demolish the popular Landmark Beach Resort to give way for the coastal highway construction of Lagos-Calabar road project.

This was contained in a letter to the business mogul Paul Onwuanibe dated March 19, 2024, and signed by the Deputy Director (Development Matters Department) Tpl Shomolu O., on behalf of the permanent secretary of the Ministry of Physical Planning and Urban Development.

According to the letter, the state government noted that the sections of the property billed for demolition such as the Beach Resort, Kids and Bay Arena, Members Area, Lagos Beach Club fall within the Right of Way of the proposed road project by 50 meters.

Onwuanibe, receiving seven day’s notice of removal of property felt it was an April fool that had come early.

The beach resort which is valued at over $200 million, according to Onwuanibe, the Landmark site is home to over 80 businesses and provides more than 4,000 direct jobs.

It also generates over 2 billion naira ($1.5 million) in annual tax revenue.

Recall that the Lagos state government had written the company in two different national newspaper on the demolition .

“Following the publications of Friday 15th and Saturday 16th March, 2024, in the two national newspapers, The Nation and The PUNCH respectively, for the constriction of 103km stretch of the 700km Lagos-Calabar coastal highway by the Federal Ministry of Works, in collaboration with Lagos State Government, I am to inform you that your property falls within the Right of Way Alignment of the project by 50 meters.

“Consequently, the affected portion shall be removed in overriding public interest, to pave way for the road construction project from seven (7) days of serving this notice.

“In view of the above, I am to request you to forward all documents supporting your ownership of the property to the Permanent Secretary, Lands Bureau, Block 13 and 14, The Secretariat, Alausa, Ikeja.’’

President Bola Tinubu has thanked Mr. Jim Obazee, for his services as the Special Investigator of the Central Bank of Nigeria (CBN) and other related entities, declaring that the investigation has officially come to a close.

Presidential spokesman, Ajuri Ngelale, in a statement quoted the President as commending Mr. Obazee for the dedication and professionalism he exercised in handling the “complexities of this critical national assignment.”

Ngelale said, “Subsequent to the conclusion of the assignment and the submission of a final comprehensive report, and with the winding up of all apparatuses used during the scope of the task which terminated on March 31, 2024, the investigation is formally closed, with all appropriate law enforcement and regulatory agencies already conducting follow-up action.

“The President thanks Mr. Obazee for answering the call of duty while wishing him success in his future endeavours.”

Recall that President Tinubu in July appointed Obazee, former Chief Executive Officer of the Financial Reporting Council of Nigeria (FRC), to investigate the activities of the apex bank under Emefiele.

Following the findings of Obazee and his team, the former CBN Governor is already facing charges in court.

The report presented to the President against the former CBN Boss highlighted unauthorised funding of offshore bank accounts, fraudulent cash withdrawals from the CBN vault, gross financial misconduct involving the former governor and his Deputy Governors, substantial fixed deposit holdings amounting to £543.4 million, among others.

The report also highlighted manipulations in the Naira exchange rate, irregularities in the e-Naira project, unauthorised printing of new currency denominations, and substantial expenditures on legal fees.

The Federal Government has pegged vehicle speed limits on the Third Mainland bridge at 80 kilometres per hour.

Minister of Works, David Umahi, declared the latest speed limit during the official opening of the bridge.

The minister, who was represented by the Federal Controller of Works Lagos, Olukorede Kesha, expressed gratitude to Lagosians for their patience during the last five months of extensive repairs of the bridge.

The minister, while performing the reopening of the bridge, stated that other ancillary works like the installation of speed limits, guard rails, and CCTV, among others will end by May 24.

He lauded President Bola Tinubu for making funding seamless to achieve an indelible infrastructure upgrade, saying the underdeck rehabilitation would continue without any further hindrance to vehicular traffic.

Meanwhile, Kesha has advised road users to take ownership of the infrastructure and protect every installation on the bridge.

Also, the Lagos State Commissioner for Transportation, Oluwaseun Osiyemi, has cautioned motorists against overspeeding as there are speed cameras that would capture them, with appropriate fines.

Osiyemi commended the federal government for the project, which according to him, is a total renewal of one of the most important bridges in Nigeria.

Motorists plying the road appreciated the federal government for collaborating with the State Government to rehabilitate the Third Mainland Bridge.

The acclaimed musician, David Adeleke, popularly known as Davido, kicked off the new month in spectacular fashion by adding yet another private jet to his impressive collection.

In a stunning announcement on the micro-blogging platform X (formerly Twitter), the father of five proudly unveiled his latest acquisition—a pristine Bombardier 7500.

According to reports, the recently acquired private jet, a Bombardier 7500, is regarded as one of the most luxurious and costly aircraft available on the market, with estimated prices ranging from $68 million to $78 million, depending on the source.

The video showcasing the interior of Davido’s newly acquired private jet quickly circulated online, offering a brief glimpse into its luxurious design and opulent features.

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