Author: Vardiafrica

PARIS: France’s public debt has ballooned to a record 3.4 trillion euros ($4 trillion), according to official data released on Thursday. The figures pile immediate pressure on new Prime Minister Sebastien Lecornu as he confronts widespread protests and political turmoil. Lecornu was appointed by President Emmanuel Macron earlier this month to succeed Francois Bayrou. Bayrou was ousted by parliament in a fight over his austerity budget after just nine months on the job. Data from the INSEE statistics agency shows the former defence minister now faces a debt that amounted to 115.6% of France’s gross domestic product in the second…

President Bola Tinubu, on Wednesday, delivered a strongly worded reform policy proposal to the United Nations, warning that the global body must embrace sweeping restructurings or face growing irrelevance as world events increasingly bypass its influence. The President criticised the organisation’s record, pointing to the ongoing human suffering in the Middle East and other regions as “stains on our collective humanity.” In his address to the UN General Assembly’s 80th session, President Tinubu, who was represented by his deputy, Vice President Kashim Shettima, warned that the UN’s credibility is being undermined by the gulf between its words and its deeds…

The Federal Government has set October 6, 2025, as the commencement date for mandatory nationwide verification of academic credentials, as part of efforts to curb certificate racketeering and restore integrity to Nigeria’s education system. The directive is contained in a service-wide circular signed by the Secretary to the Government of the Federation, Senator George Akume, and addressed to all Ministries, Departments, and Agencies (MDAs), as well as public and private tertiary institutions. According to the circular, the enforcement will be implemented through the National Credential Verification Service (NCVS), which operates under the Nigeria Education Repository and Databank (NERD). It mandates…

President Bola Tinubu has directed the National Security Adviser (NSA), Mallam Nuhu Ribadu, to without further delay kick start engagement with the Nigerian National Petroleum Company Limited (NNPC), Ogoni communities, and other stakeholders, towards finalising modalities for the resumption of oil production in Ogoniland after more than three decades of shutdown. The President, who gave the directive on Wednesday at the State House, Abuja, while receiving the report of the Presidential Committee on the Ogoni Consultations, chaired by former Vice Chancellor of the University of Port Harcourt, Professor Don Baridam hailed the committee for its “dedication and wisdom” in guiding…

A new HIV prevention drug will be made available at a lower cost in over 100 low-income countries within two years — a move expected to give millions access to the breakthrough treatment and potentially bring the world closer to ending the HIV/Aids epidemic. The drug, called Lenacapavir and administered by injection, is due to be rolled out as early as the end of this year, at a cost of $28,000 (£20,000) per person annually. But Wednesday’s announcement promises to slash that price to just $40 — around 0.1% of the original cost. The lower-cost version will be rolled out…

Russia’s Finance Ministry has announced an increase in VAT despite pledges by Vladimir Putin that he will not burden the Russian population with more taxes. The ministry said on Wednesday that it plans to raise VAT by two percentage points to 22% as part of a three-year strategy to address a growing budget deficit caused by the spiraling cost of the war on Ukraine. Research by the Stockholm International Peace Research Institute published in April found that Russia’s total military expenditure could hit 15.5 trillion rubles (€511 billion) this year. Last year, VAT made up over 15% of the government’s…

The Nigerian Safety Investigation Bureau (NSIB) on Wednesday said that malfunctioned switch mechanism was responsible for Abuja-Kaduna train derailment that occurred at Asham Station on August 26. This is contained in the bureau`s preliminary report made available to newsmen in Abuja. The derailment involving train number AK 1, operated by Nigerian Railway Corporation (NRC), with locomotive registration CDD5c2 2701, had persons on board, including NRC crew members, security personnel and service staff. According to the report, the Asham station automatic crossing point switch mechanism was found unserviceable. NSIB said that the NRC personnel had only initial training and no formal…

The Central Bank of Nigeria (CBN) has launched a nationwide sensitisation campaign to educate Nigerians on proper handling of the naira, warning against practices such as spraying, selling, writing on, or mutilating banknotes. The roadshow, themed “Naira Our Pride: Handle with Care,” kicked off in Abuja on Wednesday as part of the apex bank’s efforts to preserve the integrity of the national currency and reduce the huge costs of reprinting damaged notes. CBN’s Deputy Governor, Operations Department, Mr. Bala Bello, represented by Dr. Sikiru Adetona, urged Nigerians to keep the naira clean, avoid folding or crushing it, and to always treat it…

Malawi’s president, Lazarus Chakwera has conceded defeat in the country’s presidential election, calling former leader Peter Mutharika the “presumptive winner.”   In an address on national television on Wednesday just hours before the final results were announced, Chakwera said he had spoken with Mutharika to congratulate him. “This outcome is a reflection of your collective will to have a change of government, and so it is only right that I concede defeat out of respect for your will as citizens and out of respect for the constitution,” Chakwera said in his address to Malawians. Partial results released on Monday suggested…

First Bank is set to launch tailored financial services for people with disability and physically challenged customers across its operations. According to the bank, the initiative is part of its broader continuous commitment to promoting financial inclusion and diversity. It would benefit customers who are blind, and physically challenged across its operations. This initiative is part of FirstBank’s broader continuous commitment to promoting Financial Inclusion and Diversity, which is shown in its policies, partnerships and initiatives such as its employees’ ratio of female to male (about 41%:59%; and 37 per cent women in management roles) as well as the FirstBank…