The Academic Staff Union of Universities (ASUU) has alleged that the World Bank and International Monetary Fund (IMF) are actively working to weaken Nigeria’s public school system.

This claim was raised as the union voiced its anger over the extended delay in reaching a new agreement with the federal government, which was supposed to be renegotiated in 2009.

Despite several agreements and action plans, ASUU President, Prof. Emmanuel Osodeke, lamented the fact that no deal has been finalized.

During the Heroes Day ceremony for the 2024-2025 academic year in Abuja, Osodeke pointed out other issues of concern, such as the mandatory implementation of the Integrated Personnel and Payroll Information System (IPPIS) and the delay in paying ASUU members’ salaries for over three months.

ASUU also revealed the distribution of doctoral scholarships amounting to ₦500,000 each to chosen members after thorough review of their proposals.

Osodeke praised the members for their perseverance in protecting Nigeria’s public university system and showed support for ASUU members who are struggling at universities in Kogi State, Lagos, Ebonyi, and Chukwuemeka Odumegwu Ojukwu.

The Heroes Day ceremony is a tribute to past and present members for their efforts in advancing public education.

Osodeke mentioned the late Prof. Festus Iyayi, a former ASUU leader, and others who have made significant contributions to ASUU’s goals.

The National Bureau of Statistics (NBS) released a data review for the second quarter debt portfolio of the country, which showed that the debt owed by every Nigerian on average stood at N619,501.

According to the data published by the Debt Management Office, Nigeria’s public debt stood at N134.297 trillion as of the second quarter of 2024 (June, 2024).

With the National Bureau of Statistics putting the country’s population at 216.7 million persons, it would mean that debt per capita stands at N619,501 based on the latest debt figure released by the DMO.

The data from DMO stated that, "The total Public debt is N134tn. This is for public debt stock – external and domestic debt of the FGN (Federal Government of Nigeria), states, and FCT (Federal Capital Territory) as of June 30, 2024."

The debt data further shows that domestic debt stands at N71.2trillion, while external debt stands at N63 trillion.

Of the amount owed, States owe N7.1 trillion externally while the federal government owes N55.8 trillion externally.

States owe N4.2 trillion domestically while federal government owes N66.9 trillion.

The new debt figure of the country put at N134 trillion is a N13 trillion increase from the N121 trillion recorded as of March 2024.

The development is amid clamour for less reliance on loans by the Nigerian government.

Popular Nigerian gospel singer, Dare Melody has spoken about how his deceased wife, Adedoyin, was mistreated by his family members.

Recall that Adedoyin died in October at the age of 47.

In a viral video online, Melody said despite the ill-treatment from his family to his wife, he always assured her to be at rest.

The singer praised Adedoyin’s unwavering support during his career setbacks, especially when a music promoter blacklisted him for four years.

The singer said as a token of gratitude for Adedoyin’s loyalty, he built her a house.

He said, “My family frustrated Adedoyin, I will hold her and say, ‘Adedoyin, I am the one you married, and whenever you see me, put your mind at rest.’ She was there for me, whether we had food to eat or not.

“I remember one day when one promoter who took me out and acted like a human being by saying none of my songs should be played on the radio or printed for almost four years. I could not do anything, but my late wife stood by me.

“When people celebrated the New Year, I ate biscuits with her and our one-year-old daughter. I told the Lord, ‘If truly you are the one who called me, let people know you did.’ God told me I would release a record in 2010, which became ‘Goodness and Mercy’.

“That record revived my career, and people started to recognise me. God opened the way for me, and I began building a house. A friend called me and said, ‘This woman stood by you, let’s build a house for her’, and I said, ‘Everything I have is for her’.”

The Government of Equatorial Guinea has filed a lawsuit against the former Director General of the National Financial Investigation Agency, Baltasar Engonga.

Engonga was accused of misconduct following his alleged involvement in a s3x tape scandal.

The government claims that Engonga’s actions are an affront to the nation’s values.

Jerónimo Osa Osa, the Minister of Information, Press, and Culture, made the announcement over the weekend, condemning Engonga’s alleged conduct.

“The actions of the ex-anti-graft agency chief violate the ethical and moral values of noble Equatorial Guinean society,” Osa Osa stated, emphasizing the government’s commitment to upholding high moral standards.

The Minister further disclosed that the Equatorial Guinean Government, through the State Attorney General’s Office, would conduct a thorough investigation to address Engonga’s alleged violations.

Local media, Ahora EG reported, “This decision comes after several videos went viral in which Ebang Engonga is seen having s3xual relations with multiple women, some of whom are married.”

The government reacted on Friday in an official statement, condemning these acts as “violations of the ethical and moral values of noble Equatorial Guinean society.”

The government has consequently announced the initiation of legal proceedings against Ebang Engonga and his accomplices through the Public Prosecutor’s Office, aiming to hold them accountable before the law.

“In light of these serious events, which severely undermine family and social cohesion, and considering the negative impact that this situation has on the good image of our country, tarnishing its reputation, the government, through the Public Prosecutor’s Office, has commenced a thorough investigation to establish responsibilities at the administrative, civil, and criminal levels, given the possibility of a public health impact,” reported the government spokesperson.

The government further stated it would assess various parameters, such as the distinction between personal and private spheres, prior consent (explicit or implicit), violations of privacy, damage to individuals’ honour and prestige, and the rights of those harmed by these events, including the state itself.

Mr Demola Lagbaja, the head of Lagbaja Family of Ilobu Kingdom in Osun State, has revealed that the deceased Chief of Army Staff, Lt. Gen. Taoheed Lagbaja, did not enjoy life outside the military.

The family head spoke on Monday while receiving the St. Charles Grammar School, Osogbo, Old Boys Association, who paid a condolence visit to the Lagbaja family house in Ibadan on Monday.

He said that the family expected that their late son would, after serving his tenure, retire to enjoy the fruit of his labour.

Lagbaja said the family had submitted to the will of God following the incident,  saying that “some tears will never dry.”

He noted that the late Chief of Army Staff had all his active years in the military, having completed his A-level at the Polytechnic.

“That was our wish, which never came. What happened has happened. We have to submit to the will of God, but we are very proud of our son, for he made us proud. All we can wish him is to rest in peace,” Lagbaja said.

The head of the Lagbaja family appreciated the association for the visit, adding that their late son had been well spoken of since his demise.

Speaking earlier, the delegation led by the Chairman, Board of Trustees of the school, Mr Sola Omopo, on behalf of members of the Ibadan branch of the association, presented a condolence letter to the family.

Omopo eulogised the deceased, saying he had done well for the school and was a proud and financial member until he passed on.

“He was building a very standard project of about N550m for the school, which is about 80 per cent completion.

“When we heard the news, it was very shocking for all of us both in Nigeria and the diaspora, hence the decision to pay a condolences visit to the family,” he said.

Recall that the late Chief of Army Staff, Lt. Gen. Taoheed Lagbaja died on November 5 at the age of 56.

(NAN)

The Independent Petroleum Marketers Association of Nigeria has secured an agreement with Dangote Petroleum Refinery to lift products directly.

This, according to the association, will ensure the availability of petroleum to Nigerians at a cheaper rate.

IPMAN’s National President, Abubakar Garima, announced this at a press briefing on Monday in Abuja, following a meeting of the National Working Committee of the association.

He explained that the Dangote refinery had obliged IPMAN to lift PMS, AGO and DPK directly for onward supply to IPMAN depots and retail outlets. This new arrangement with the Dangote refinery would ensure a steady and ceaseless supply of PMS products all over Nigeria at an affordable rate. 

He said, “Following our recent meeting with Alhaji Aliko Dangote and members of his top management staff in Lagos, we are happy to state the following; Dangote Refinery has obliged IPMAN to lift PMS, AGO and DPK directly for onward supply to IPMAN depots and retail outlets. That this new arrangement with the Dangote refinery will ensure a steady and ceaseless supply of PMS products all over Nigeria, at an affordable rate for Nigerians also.”

On October 29, the founder of Dangote Industries Limited, Aliko Dangote, said the refinery held over 500 million litres of petrol, but added that oil marketers were not buying his product.

In a counter-response, IPMAN said its members had been unable to load petrol from the Dangote refinery for days. Garima said the association paid N40bn to the Nigerian National Petroleum Company Limited, but still cannot source the product – but the refinery said it has not received any payment from the IPMAN for refined petroleum products.

Speaking further at the briefing, Garima urged IPMAN members to support Dangote Refinery, citing backward integration benefits and positive impacts on Nigeria’s Foreign Exchange market.

Regarding pricing, Garima expressed confidence that negotiations with Dangote would yield lower rates.

“All IPMAN members should fully support the Dangote refinery, as it’s the ideal thing to do considering the monumental benefits of backward integration and the medium to long-term impact it will have on the Foreign Exchange markets in Nigeria.

“IPMAN members nationwide should rely on the Dangote refinery and Nigerian rfineries for their white products, as this will translate into ensuring more job opportunities in Nigeria, as well as signify total support for President Bola Tinubu’s Renewed Hope Agenda,” he added.

Commenting, an Energy expert Kelvin Emmanuel, said the new agreement would eliminate financing and margin costs incurred by the NNPCL.

He said, “What is cheery about this news is that NNPC’s letter of credit as financing cost ($28 per metric tonne) that is passed to IPMAN — controlling 30,000 retail stations and their margin ($26.48 per metric tonne) will be removed.”

The IPMAN president also stated that the association is preparing for a smooth transition to nationwide CNG refill stations, as it is currently in negotiations with the presidential CNG initiative.

“On CNG, I would also like to call on all our members at IPMAN to begin to put all types of machinery in place for a successful transition of the Federal Government’s plans to initiate CNG refill stations in all our outlets. Truly there is no doubt that CNG has the potential to rejuvenate our economy for a better life for Nigerians, and IPMAN is ready to give her all to support the CNG initiative.

“IPMAN is also calling for a partnership with the Federal Government of Nigeria to hasten the quick success of the CNG initiative for Nigeria. We believe that for the CNG initiative to succeed there must be a credible partnership between IPMAN and the PCNGI, without which Nigerians would not have ready and near access to CNG outlets.”

This partnership between Dangote and IPMAN is expected to increase efficiency, affordability, and economic growth for Nigeria’s petroleum industry. This move is expected to eliminate middlemen, reduce costs, and ensure steady supply.

Early this year, the Dangote Refinery said it would supply fuel to about 150,000 retail outlets operated by oil marketers.

In his remarks, the chairman, Board of Trustees of the association, Aminu Abdukadir, said that IPMAN must remain committed to providing the retail stations and funds to ensure that products are delivered to consumers.

“The business of making money without doing anything is over with the deregulation of the sector. For IPMAN to survive, it must provide the filling stations, the money, the trucks, to provide this commodity to motorists,” he said.

Meanwhile, the Executive Secretary of the Major Energy Marketers Association of Nigeria, Clement Isong, has explained that the final landing price is determined by several key factors, including the exchange rate, logistics efficiency and cost negotiating power based on volume bought.

The ES in an interview with our correspondent on Monday, said this in response to the expectation of a reduction in petrol prices following a 20.34 per cent decrease in landing costs to N971.57 per litre.

He noted that oil marketers peg their price by the average cost of petrol import within 30 days and not on the daily spot price.

Isong said, “If you read our bulletin, there is not one landing price for the whole country. What we are saying is to give an idea of the landing pricIf if you land 38,000 metric tonnes into ASBM in Apapa, this is the landing price. That’s what we are saying. If you land 100,000 MT, or 80,000 MT into Pinnacle, the landing price will be lower. But there are only two places where the landing price will be lower due to economies of scale. If you land in the majority of the country, the depots and facilities take less. So, if you land it into another place in Lagos, the landing price will be higher. It won’t be N971 per litre. It can be as close to N1,000.

“So, the landing price is in function of how much you got your exchange rate, logistics and your negotiating power based on what volume bought. Some marketers are landing below N917. But the vast majority of people who don’t enjoy the benefits of economies of scale will land at significantly above that. What this teaches is that it is a free and open market. It’s how you buy that you sell. There is no one price. It is a function of the draft of the vessels that you land the product. It’s a function of how much product was bought. It’s a function of what rate of exchange was used to buy products. The exchange rate that we have used is the central bank rate. So, if you have the central bank rate, then you will not land at that price but if you to the black market, the price will be higher.

“The law says that we can only keep 30 days of stock in our depots. So, the fact that the spot market has gone up means nothing, because you are selling based on the price of the average cost in your tank. The fact that the price has gone down to N971, it doesn’t matter, because we are selling based on the average cost in your tank. How much did you buy and the average cost of everything in the tank? It’s a market price. And the market price is a range. It moves, depending on how efficient you are. And I think for us, the most important thing is the exchange rate.”