Author: Vardiafrica

President Biden on Tuesday delivered his final speech to the United Nations General Assembly — and one of his last speeches on the world stage as president — capping a decades-long political career that has focused heavily on foreign policy. Mr. Biden noted the “remarkable sweep of history” he had seen in his long time in public service, saying “things can get better.” “I know, I know many look at the world today and see difficulties and react with despair,” the president said. “But I do not. I won’t.” The 79th session of the United Nations General Assembly, colloquially known…

The Federal Government is set to implement the New Minimum Wage with effect from July 29, 2024. It also approved the revision of the Salary structure for lecturers, doctors, military and other civil servants. The development comes after FG and the Labour Union on Friday signed a Memorandum of Understanding on the ₦70, 000 new minimum wage. A statement by the Office of the Head of Civil Service of the Federation, and signed by the Head, Information and Public Relations, Eno Olotu said the committee on salaries for civil servants has agreed that the new minimum wage will be implemented…

The Central Bank of Nigeria has further raised its Monetary Policy Rate(MPR) by 50 basis points to 27.25 per cent from 26.75 per cent “to moderate inflation”  which stands at 32.15%. This was revealed by the CBN Governor, Olayemi Cardoso after the apex bank’s 297th Monetary Policy Committee meeting held on the 23rd and 24th of September in Abuja to review recent economic and financial developments, as well as assess its outlook for the year. “The committee was unanimous in its decision to further tighten policy and thus decided as follows, one: raise the MPR to 27.25 per cent,” Cardoso…

President Bola Tinubu has declined assent to a bill seeking to extend the tenure of service of legislative officers at the National Assembly, as well as the 36 state Houses of Assembly from 35 to 40 years and their retirement age from 60 to 65 years. The president’s declined assent was conveyed in a letter read on the floor of the Senate today by the President of the Senate, Sen. Godswill Akpabio. The harmonised controversial retirement age bill was first stepped down in February, 2024 for further research and consultation wirb stakeholders, after a significant number of senators voted against…

President Bola Tinubu has asked the senate to confirm Kudirat Kekere-Ekun as the substantive chief justice of Nigeria (CJN). The president’s request was contained in a letter read by Senate President Godswill Akpabio on the floor of the upper legislative chamber on Tuesday. Kekere-Ekun has been in the office in acting capacity since August following the retirement of Olukayode Ariwoola as CJN. The president had sworn her into the office in acting capacity. Tinubu premised his request on 231(1) of the constitution. “Pursuant to 231(1) of the constitution of the federal republic of Nigeria of 1999 as amended which gives…

Justice Binta Nyako of the Federal High Court Abuja has said she is going to “rescue” herself from Nnamdi Kanu’s case. She made the statement after Kanu asked her to rescue herself from his case since she had refused to obey the Supreme Court’s order, adding that he had lost confidence in the court. He spoke out at the open court during the resumption of his trial on Tuesday. Justice Binta Nyako then replied that she would be happy to recuse herself from the trial, and had no problem with his request. She said she would be sending the case file…

Oil marketers have assured Nigerians of a drop in prices of Premium Motor Spirit (PMS) or petrol once they start direct lifting of products from the Dangote Refinery. The assurance came after a rise in prices of products following of commencement of product lifting by the state oil company, NNPCL from Dangote Refinery. Prices of petrol had shot up to ₦950 per litre in Lagos state and its environs, while consumers in the north pay as much as ₦1000 per litre for the product. However, the Spokesperson for the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Ukadike while appearing…

Chairman of Dangote Group, Aliko Dangote has expressed regret over his decision not to purchase Premier League club Arsenal for $2bn. In a recent interview on Bloomberg TV in New York, the billionaire acknowledged that the “time has passed” for him to buy Arsenal, saying that the club is now valued at approximately $4bn. In 2020, Dangote announced his intention to acquire the North London club after completing his refinery project. As of September 2024, Dangote is the second-richest person in Africa, with an estimated net worth of $13.4 billion. He, however, explained that he no longer has the liquidity…

The leader of the Senate, Senator Opeyemi Bamidele has disclosed that investigation of alleged economic sabotage in the petroleum sector by Ad – hoc committees separately set up by both the Senate and the House of Representatives in July, will now be jointly handled by both chambers. Senator Bamidele who doubles as the Chairman of the investigative Adhoc committee stated this in a statement personally signed by him on Monday. He says: ‘As we return fully to the parliamentary sessions on Tuesday this week, the National Assembly will without ambiguity, revisit its decision to decisively address challenges in the petroleum…

Nigeria is demanding permanent seats for Africa on the United Nations Security Council. The country’s Minister of Defence Abubakar Badaru made the demand at the Summit of the Future during the 79th United Nations General Assembly in New York, USA. “He said that Nigeria has contributed to International Peace and Security in terms of troops, finance, logistics, and civilian experts to various African countries, including Guinea Bissau, Sierra Leone, Liberia, Mali, and Côte d’Ivoire. In addition, Nigeria has played a key role in regional security and stability in West Africa and the Sahel,” the ministry’s Director of Information Henshaw Ogubike…