The National Bureau of Statistics (NBS) has said in one year of April 2022 and April 2023, National Household Kerosene (kerosene) average price rose by 96.7% from N589.82 to N1,16.0.67.
In its “National Household Kerosene Price Watch (April 2023),” NBS said on month-month basis, the price soared by 1.59% from N1,142.46 recorded in March 2023.


The document said: “The average retail price per litre of Household Kerosene (HHK) paid by consumers in April 2023 was N1,160.67, indicating an increase of 1.59% compared to N1,142.46 recorded in March 2023.

“On a year-on-year basis, the average retail price per litre of the product rose by 96.79% from N589.82 in April 2022.”

On state profile analysis, according to NBS, the highest average price per litre in April 2023 was recorded in Adamawa with N1,600.00, followed by Abuja with N1,382.10 and Bauchi with N1,320.50.

It added that the lowest price was recorded in Jigawa with N925.25, followed by Kaduna with N950.50 and Edo with N965.85.


NBS also said analysis by zone showed that the North-East recorded the highest average retail price per litre of Household Kerosene with N1,273.53, followed by the South-East with N1,265.71 while North-West recorded the lowest with N1,014.19.

The Bureau noted that the average retail price per gallon of Household Kerosene paid by consumers in April 2023 was N4,166.94, showing an increase of 1.50% from N4,105.25 in March 2023.

It said on a year-on-year basis, this increased by 95.03% from N2,136.52 in April 2022.

Singer Banky W has recalled how he once prayed never to marry someone in the entertainment industry.

Banky W stated this in a post on his Instagram page while celebrating his wife, Adesua Etomi’s birthday.

He wrote: “When I was ready for a wife, I specifically told God I didn’t want someone in the Entertainment business because my life was unstable enough.

I wanted a 9 to 5 career lady in Banking, Telecomms, Aviation, and Oil & Gas. I didn’t want someone with a career as crazy as mine.

“And when Susu prayed for her husband, she specifically told God she didn’t want a Musician, a Politician and Pastor. Lol. But here we are, almost six years into our marriage, and it’s crystal clear that God’s plans were much better than anything we could have dreamt for ourselves.”

[Nation]

A coalition of 150 civil society organizations, under the aegis of Advocates of Truth and Justice (ATJ), has berated the National Youth Service Corps (NYSC) over what it termed unnecessary and fraudulent involvement in politics.

The Coalition, in a statement signed by its Executive Director, Dr. Anthony Ujah, accused top officials of the Scheme of conniving with highly-placed politicians to destroy the reputation of others in the name of forged NYSC certificates.

Recall that the NYSC DG, Brig Gen Yusha’u Ahmed, alleged that it never issued a discharge certificate to Enugu State Governor-elect, Dr. Peter Mbah.

Mbah consequently obtained a court order barring the NYSC from further disclaiming his certificate.

The governor-elect sued the NYSC for N20 billion at the Federal High Court, Abuja, for alleged conspiracy, deceit, and misrepresentation of facts.

However, despite the court order, the NYSC DG engaged the media to again disclaim the certificate, denying knowledge of the lawsuit and consequent court order, acting in clear contempt of the court.

Ujah said the NYSC leadership has derailed from its mandate and is now a tool in the hands of desperate politicians to frustrate perceived rivals.

The Coalition wondered why Mbah will forge a certificate he didn’t have to pay for and did not need to write any exam to earn.

“After our investigation, we discovered that the Governor-Elect of Enugu, Barrister Peter Mbah was dully mobilized by the NYSC, issued a call-up letter, assigned to a place of primary assignment, and carried out all duties and responsibilities assigned to him, including participating in the passing out parade and was issued a discharge certificate by the NYSC,” Ujah said.

“One now wonders how at the end of all these exercises, the NYSC could make a bold face by telling the world that the Governor-elect didn’t participate in the exercise. This is not only scandalous but ridiculous, to say the least.

“The NYSC discharge certificates are printed by the Nigerian Security Printing and Minting Company PLC. They have security features such as watermarks and serial numbers denoting the batches. The NYSC should back its claim by producing any other certificate in the series of Mbah’s certificate that has the same serial number”.

The Coalition, therefore, vowed to embark on a massive protest at the NYSC secretariat to call for the total investigation of the Scheme and her staff by the National Assembly as soon as possible.

Ujah said after this mass action, the incoming administration would be left with no other option but to reform or outrightly abolish the compromised Scheme.

[authorityngr]

A former British Prime Minister, Tony Blair, has told the president-elect, Bola Ahmed Tinubu that he will help the latter’s administration once he becomes Nigeria’s president.

 

Blair said that the Tony Blair Institute for Global Change, which he founded, would be a willing partner of the incoming government of the Tinubu administration, especially in prioritising its goals and delivery.

Blair gave the commitment when he paid a visit to the president-elect at the Defence House in the Federal Capital Territory (FCT), Abuja, according to a statement by Tinubu’s spokesperson, Abdulaziz Abdulaziz.

“We would like to help in any way with your administration, we only need to know what the leadership priorities are and help in how to actualise them,” Blair said.

 

He also commended Tinubu’s campaign focus on key areas of security, economy, agriculture and power, describing the intertwined nature of the areas as vital to the development of any nation.

“Being in government today anywhere in the world is tough, you have things happening around the world which affect you and for which you can’t do anything much,” Blair said.

Tinubu will be sworn-in on Monday, May 29, 2023 at the Eagles Square in Abuja, taking over from Muhammadu Buhari as Nigeria’s next president.

He won the 2023 presidential election after defeating the likes of Atiku Abubakar of the People’s Democratic Party (PDP) and the Labour Party (LP) candidate, Peter Obi.

[Guardian]

Nigeria's annual economic growth rate slowed to 2.3% in the first quarter, data showed on Wednesday, hurt by a government plan to swap old banknotes for newly designed ones that disrupted trade and payments.

The gross domestic product (GDP) data came hours before a central bank interest rate announcement and next week's swearing-in of President-elect Bola Tinubu, who has pledged to revive growth.

Africa's largest economy has now grown for 10 consecutive quarters after a severe recession in 2020 linked to the COVID-19 pandemic.

 

GDP posted annual growth of 3.1% in the first three months of 2022.

"The reduction in growth is attributed to the adverse effects of the cash crunch experienced during the quarter," the National Bureau of Statistics (NBS) said.

Nigeria launched the newly designed banknotes with the aim of controlling liquidity, curbing inflation and moving towards a cashless economy.

But the move disrupted payments in a country where cash is dominant. Full implementation of the policy has been moved to the end of the year.

 

The NBS said first-quarter growth was driven by the services sector, which grew 4.4% year on year.

The oil sector which accounts for around two-thirds of government revenue and 90% of foreign-exchange reserves, contracted 4.2%.

Nigeria, Africa's top oil producer, recorded average daily oil output (NGOIL=ECI) of 1.51 million barrels per day (mbpd) in the first quarter, up from the daily average of 1.49 mbpd registered in the same quarter of 2022.

Analysts said the slowdown in the growth rate could prompt the central bank to hold interest rates at its policy meeting on Wednesday, despite double-digit inflation.

[Reuters]

President Muhammed Buhari has sworn in seven federal commissioners of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC).

The president performed the brief ceremony before the commencement of the valedictory federal executive council (FEC) meeting at the State House, Abuja.

The federal commissioners include Ayogu Eze (Enugu state), Peter Opara (Imo state), Hawa Aliyu (Jigawa state), and Rekiya Haruna (Kebbi state).

Others are Ismaila Agaka (Kwara state), Kolawole Abimbola (Oyo state) and Ayuba Ngako (federal capital territory).

 

At the meeting, Vice President Yemi Osinbajo also presented the report on the health reform committee to the president.

The committee, chaired by Osinbajo, was put in place to develop a roadmap to achieving universal health coverage in the country.

Its recommendations include improving funding of the health sector above 10 percent.

[TheCable]

President Muhammadu Buhari has asked the Senate to approve $566,754,584.31, £98,526,012.00, and N226 billion to clear some outstanding judgement debts.

This request is coming barely five days before the termination of the current administration.

The letter of request was read by the Senate President, Ahmad Lawan on Wednesday during plenary.

In the letter, Mr Buhari explained that the money are for judgement granted against ministries, departments and agencies which had earlier been settled through promissory notes.

He stated that the payment of the judgment debt was approved by the federal executive council.

“The distinguished Senate President may wish to be informed that the Federal Executive Council FEC in its meeting on March 29, 2023, approved the settlement of top priority judgement debts secured by federal ministries, departments and agencies MDAs through the issuance of promissory notes.

“The judgement debts have been settled through the issuance of promissory notes which will then be reviewed over time for the convenience of the federal government or of Nigeria.

Buhari is set to exit office on Monday following 8 years of leadership of the federal republic of Nigeria as president.

[DailyPost]

The Lagos State Governor, Babajide Sanwo-Olu, has dissolved his cabinet ahead of his swearing-in ceremony on May 29, 2023.

Sanwo-Olu and his deputy, Obafemi Hamzat, will be sworn in for a second term of four years on May 29.

 

The Head of Service, Hakeem Muri-Okunola, made the announcement on Wednesday through a circular with No. 046.

The circular read in part, “However, political appointees whose appointments are by Legislation/Tenure-Based and Members of Statutory Commissions/Governing Councils whose tenures have not lapsed, are not affected by this directive, unless otherwise formally informed.

“Therefore, all affected political office holders are expected to prepare individual handover notes and return any government property including utility/project vehicles in their possession to the Accounting Officer/Most Senior Director of their respective Ministries, Department and Agencies.

“In addition to handing over to their respective Permanent Secretaries, cabinet members are to send a copy of the handover notes to the Permanent Secretary, Cabinet Office not later than Friday, 26 May. 2023.

“Furthermore, all concerned Officers are to comply with the provision of paragraph 11 (1b), part one of the Fifth Schedule of Nigeria Constitution on End of Tenure Assets DeclarationWhile wishing the affected Political Office Holders success in their future endeavours, Mr. Governor appreciates the contributions and roles of the affected Public Officers to the development of the State, especially the significant milestones recorded under the T.HE.M.ES Agenda.

“Accordingly, all affected political office holders, accounting officers of MDAs and the general public are enjoined to note the contents of this circular and give it the deserved service-wide publicity.”

[Punch]

The Central Bank of Nigeria (CBN) has revoked the operating licences of 132 microfinance banks, four primary mortgage banks, and three finance companies in the country.

Channels Television reports that the revocation exercise was disclosed in the official gazette of the Federal Government published on the website of the CBN on Tuesday.

According to the apex bank, the financial institutions “failed to fulfil or comply with the conditions subject to which their licences were granted; or failed to comply with the obligations imposed upon them by the Central Bank of Nigeria in accordance with the provisions of Banks and Other Financial Institutions Act (BOFIA) 2020, Act No. 5.”

The four primary mortgage banks whose licences were revoked are Resort Savings & Loans, Safetrust Mortgage Bank, Adamawa Savings & Loans and Kogi Savings & Loans. The finance companies whose licences were revoked include HHL Invest & Trust Limited, TFS Finance Limited and Treasures & Trust Limited.

Some of the microfinance banks listed include Bluewhales Microfinance Bank, Igangan Microfinance Bank, Mainsail Microfinance Bank, Everest Microfinance Bank, Merit Microfinance Bank, Musharaka Microfinance Bank, Nopov Microfinance Bank, among others.

CBN Governor, Godwin Emefiele, said the licences were revoked in the exercise of the powers conferred on the apex bank under Section 12 of BOFIA 2020, Act No. 5.

See below the full list of the affected banks and financial institutions:

S/N        Name Of Institution

  1. ATLAS MICROFINANCE BANK
  2. BLUEWHALES MICROFINANCE BANK
  3. EVEREST MICROFINANCE BANK
  4. IGANGAN MICROFINANCE BANK
  5. MAINSAIL MICROFINANCE BANK
  6. MERIT MICROFINANCE BANK
  7. MINNA MICROFINANCE BANK
  8. MUSHARAKA MICROFINANCE BANK
  9. NOPOV MICROFINANCE BANK
  10. OHON MICROFINANCE BANK
  11. PREMIUM MICROFINANCE BANK
  12. ROYAL MICROFINANCE BANK
  13. STATESMAN MICROFINANCE BANK
  14. SUISSE MICROFINANCE BANK
  15. VIBRANT MICROFINANCE BANK
  16. VIRTUE MICROFINANCE BANK
  17. ZAMARE MICROFINANCE BANK
  18. NORTH CAPITAL MICROFINANCE BANK
  19. CHIDERA MICROFINANCE BANK
  20. EXCELLENT MICROFINANCE BANK
  21. NI’IMA MICROFINANCE BANK
  22. COSMOPOLITAN MICROFINANCE BANK
  23. PROGRESSIVE LINK MICROFINANCE BANK
  24. TRUST ONE (FOMERLY DESMONARCHY)
  25. EKUOMBE MICROFINANCE BANK
  26. FIRST INDEX MICROFINANCE BANK
  27. OLA MICROFINANCE BANK
  28. ULI MICROFINANCE BANK
  29. VERDANT MICROFINANCE BANK
  30. AGULERI MICROFINANCE BANK LIMITED 31. APEKS MICROFINANCE BANK LIMITED
  31. FAHIMTA MICROFINANCE BANK LIMITED
  32. MANNY MICROFINANCE BANK LIMITED
  33. REALITY MICROFINANCE BANK LIMITED
  34. SURBPOLITAN MICROFINANCE BANK LIMITED
  35. ONYX MICROFINANCE BANK LIMITED
  36. OSINA MICROFINANCE BANK LIMITED
  37. OLOFIN-OWENA MICROFINANCE BANK LIMITED
  38. ZIKADO MICROFINANCE BANK LIMITED
  39. PRUDENTIAL CO-OPERATIVE MICROFINANCE BANK LIMITED
  40. PENIEL MICROFINANCE BANK LIMITED
  41. TARABA MICROFINANCE BANK LIMITED
  42. BRASS MICROFINANCE BANK LIMITED
  43. MICHIKA MICROFINANCE BANK LIMITED
  44. NDIAGU MICROFINANCE BANK LIMITED
  45. NORTHBRIDGE MICROFINANCE BANK LIMITED
  46. FCT MICROFINANCE BANK LIMITED
  47. OMU-ARAN MICROFINANCE BANK LIMITED
  48. CHERISH MICROFINANCE BANK LIMITED
  49. BIPC MICROFINANCE BANK LIMITED
  50. DANELS GLOBAL MICROFINANCE BANK LIMITED
  51. BANCORP MICROFINANCE BANK LIMITED
  52. MANNA MICROFINANCE BANK LIMITED
  53. MONEYWISE MICROFINANCE BANK LIMITED
  54. MERCURY MICROFINANCE BANK LIMITED
  55. NEW AGE MICROFINANCE BANK LIMITED
  56. PEARL MICROFINANCE BANK LIMITED
  57. ZAWADI MICROFINANCE BANK LIMITED
  58. SEED CAPITAL MICROFINANCE BANK LIMITED
  59. EDUEK MICROFINANCE BANK LIMITED
  60. EKSU MICROFINANCE BANK LIMITED
  61. DAKINGARI MICROFINANCE BANK LIMITED
  62. OGOJA MICROFINANCE BANK LIMITED
  63. NWABOSI MICROFINANCE BANK LIMITED
  64. NUTURE MICROFINANCE BANK LIMITED
  65. ACTIVE POINT MICROFINANCE BANK LIMITED
  66. AMOYE MICROFINANCE BANK LIMITED
  67. BOLUWADURO MICROFINANCE BANK LIMITED
  68. IYEDE MICROFINANCE BANK LIMITED
  69. MAYFAIR MICROFINANCE BANK LIMITED
  70. CALABAR MICROFINANCE BANK LIMITED
  71. IGHOMO MICROFINANCE BANK LIMTED
  72. HACKMAN MICROFINANCE BANK LIMITED
  73. IDESE MICROFINANCE BANK LIMITED
  74. BRIDGEWAY MICROFINANCE BANK LIMITED
  75. GRASSROOT MICROFINANCE BANK LIMITED
  76. SURELIFE MICROFINANCE BANK LIMITED
  77. TIJARAH MICROFINANCE BANK LIMITED
  78. IC-GLOBAL MICROFINANCE BANK LIMITED
  79. EJIAMATU MICROFINANCE BANK LIMITED
  80. BRIYTH COVENANT MICROFINANCE BANK LIMITED
  81. NANKA MICROFINANCE BANK LIMITED
  82. CUB MICROFINANCE BANK LIMITED
  83. BFL MICROFINANCE BANK LIMITED
  84. UMUNNE MICROFINANCE BANK LIMITED
  85. OROKE MICROFINANCE BANK
  86. ALKALERI MICROFINANCE BANK LIMITED
  87. CROWNED EAGLE MICROFINANCE BANK LIMITED
  88. UNIFA MICROFINANCE BANK LIMITED
  89. DADINKOWA MICROFINANCE BANK LIMITED
  90. IFESOWAPO MICROFINANCE BANK LIMITED
  91. OAF MICROFINANCE BANK LIMITED
  92. BAMA MICROFINANCE BANK LIMITED
  93. NGALA MICROFINANCE BANK LIMITED
  94. IWOAMA MICROFINANCE BANK LIMITED
  95. KADA MICROFINANCE BANK LIMITED
  96. KEFFI MICROFINANCE BANK LIMITED
  97. NUT-ENDWELL MICROFINANCE BANK LIMITED
  98. FIRST MULTIPLE MICROFINANCE BANK LIMITED
  99. SBDC MICROFINANCE BANK LIMITED
  100. OROS CAPITAL MICROFINANCE BANK LIMITED
  101. OZIZZA MICROFINANCE BANK LIMITED
  102. PRIMERA CREDIT MICROFINANCE BANK LIMITED
  103. IFEANYICHUKWU MICROFINANCE BANK LIMITED
  104. IHIOMA MICROFINANCE BANK LIMITED
  105. JOSAD MICROFINANCE BANK LIMITED
  106. AKPO MICROFINANCE BANK LIMITED
  107. AIYEPE MICROFINANCE BANK LIMITED
  108. ABC MICROFINANCE BANK LIMITED
  109. STAR MICROFINANCE BANK LIMITED
  110. PURPLE MONEY MICROFINANCE BANK LIMITED
  111. UTUH MICROFINANCE BANK LIMITED
  112. STALLION MICROFINANCE BANK LIMITED
  113. KJL MICROFINANCE BANK LIMITED
  114. CREDIT AFRIQUE MICROFINANCE BANK LIMITED
  115. COWRIES MICROFINANCE BANK LIMITED
  116. LAWEBOD MICROFINANCE BANK LIMITED
  117. MABINAS MICROFINANCE BANK LIMITED
  118. BUSINESS SUPPORT MICROFINANCE BANK LIMITED
  119. OGBE-AHIARA MICROFINANCE BANK LIMITED
  120. OLOFIN MICROFINANCE BANK LIMITED
  121. OBOSI MICROFINANCE BANK LIMITED
  122. FIYINFOLU MICROFINANCE BANK LIMITED
  123. BISHOPGATE MICROFINANCE BANK LIMITED
  124. AWKA MICROFINANCE BANK LIMITED
  125. ZIGATE MICROFINANCE BANK LIMITED
  126. ESAN MICROFINANCE BANK LIMITED
  127. ENUGU-UKWU MICROFINANCE BANK LIMITED
  128. ECHO MICROFINANCE BANK LIMITED
  129. ALLY MICROFINANCE BANK LIMITED
  130. NETWORK MICROFINANCE BANK LIMITED
  131. AWGBU MICROFINANCE BANK LIMITED

SCHEDULE II

LIST OF FINANCE COMPANIES LICENCES REVOKED

S/N        Name Of Institution

  1. HHL Invest & Trust Limited
  2. TFS Finance Limited
  3. Treasures & Trust Limited

SCHEDULE  III

LIST OF PRIMARY MORTGAGE BANKS LICENCES REVOKED

S/N        Name Of Institution

  1. RESORT SAVINGS & LOANS
  2. SAFETRUST MORTGAGE BANK
  3. ADAMAWA SAVINGS & LOANS
  4. KOGI SAVINGS & LOANS

[CHannels TV]

 
 
Our attention has been drawn to a report credited to a PDP stalwart, Segun Sowunmi, heaping blames on the successive administrations in the state for losing an N19bn Dangote
Refinery to the neighbouring Lagos State.
 
Any true born Ogun indigene will sincerely be pained by the huge investment loss, especially when Ogun had been marked as the most suitable natural location for the mega project in Olokola Free Trade Zone, in Ogun Waterside Local Government Area of the state.
 
In truth, everyone knows that Segun Sowunmi is referring to the immediate past governor, Ibikunle Amosun, as the man who frustrated the efforts to locate the refinery in Ogun State. 
 
We are all aware that the penultimate administration made appreciable and concerted efforts to ensure that the Olokola deep sea port and other ancillary projects in the OKFTZ, become a reality, by rallying major players in the oil and gas sector, including Dangote Group.
 
But, its successor between 2011 and 2019, for reasons best known to it, killed the project and frustrated the promoter of Dangote Refinery out of the state.
 
The present governor, Dapo Abiodun, served as the Chairman of the Committee on the Olokola Free Trade Zone projects during the first term of the immediate past governor.
 
Governor Abiodun, as the chairman of the committee and a big player in the oil and gas industry himself, did everything possible to make sure the project saw the light of the day. 
 
The then governor, perhaps, having a personal axe to grind with the promoter of the refinery project, Alhaji Aliko Dangote, frustrated all the efforts of Governor Abiodun and his committee.
 
A former Minister of Finance, Mrs. Kemi Adeosun was then a commissioner and served on the committee, which engaged Dangote on the mega project.
 
Aliko Dangote is still very much around and can be asked to shed more light on Gov. Abiodun's role that he alluded to in his testimonial at the commissioning. 
 
He is alive to speak on how he was frustrated, despite Prince Abiodun's pleas and multiple interventions that fell on the deaf ears of the then governor.
 
Instead of showing enthusiasm towards hosting the project in the state, the former governor brazenly opposed and obstructed the efforts of the Abiodun-led committee in ensuring that the OKFTZ came into fruition
 
Having become governor in 2019, it is on record that Governor Dapo Abiodun had always rued the missed opportunity, and he'd embarked on efforts in reawakening the OKFTZ. At different forums, the governor had made it known that the Olokola project is a gold mine waiting to be tapped by the state.
 
Apart from that, he has continued to shop for would-be investors to bring the project to life. His administration has not relented in bringing net-worth players in oil and gas as well as maritime, to ensure that the natural resources in OKFTZ such as bitumen, natural deep seaport, marine and natural gas are tapped for the economic development of Ogun State.
 
Even before Aliko Dangote declared on Monday at the official commissioning of the refinery in Lagos that Ogun was the next port of call, Governor Abiodun was already wooing Dangote to reconsider the Gateway State.
 
Indeed, Dangote has been a resourceful partner in the "Building our future together" agenda of Prince Abiodun. This is evident in his partnership on the reconstruction of the Sagamu Interchange - Papalanto - Obele Road and the provision of an alternate road from Epe to Ijebu-Ode 
 
Conclusively, Governor Abiodun-led administration can never be held either directly or vicariously responsible for the loss of Dangote Refinery. All Ogun State indigenes know the administration that worked against the economic development of the state, all in the name of bad politics and shenanigans.
 
Rather, Governor Abiodun's government should be applauded for working to revive OKFTZ.
 
Kunle Somorin 
Chief Press Secretary to Gov. Dapo Abiodun