Author: Vardiafrica

The African Union (AU) has launched the African Credit Rating Agency (AfCRA) to address the long-standing biases of global credit rating firms. The new agency, revealed by Kenya’s President William Ruto on Friday during an AU event in Addis Ababa, Ethiopia, aims to challenge the systemic prejudices that have historically hindered Africa’s economic progress. President Ruto emphasised the need for change, stating that global credit rating agencies have not only treated Africa unfairly but have also failed to accurately reflect the continent’s economic realities. “Global credit rating agencies have not only dealt us a bad hand, they have also deliberately failed Africa,” Ruto…

The Inspector General of Police (IGP), Mr. Kayode Egbetokun has requested that the Senate conduct its investigation into the disappearance of 3,907 firearms behind closed doors, citing national security concerns. In a letter addressed to Senate President Godswill Akpabio, Egbetokun expressed appreciation for the Legislature’s commitment to a thorough probe but stressed the need for confidentiality to prevent misinformation and security risks. He said; “We appreciate the Senate committee’s efforts in investigating the alleged missing firearms. However, we urge that future hearings on sensitive security matters be held in camera to avoid creating a wrong impression among Nigerians and the…

Vice President Kashim Shettima has said posterity will judge the North-East Development Commission (NEDC) fairly for going beyond infrastructure development to investing in education and green technology through its Accelerated Senior Secondary Education Programme (ASSEP). The Vice President made the statement during a meeting with the management team of the NEDC, who came to brief him on the level of work on the ASSEP project at the Presidential Villa, Abuja. He described ASSEP as the actual game changer in the age and time, pointing out that education is the greatest leveller through which even a son of a peasant could…

President Bola Tinubu has arrived in Addis Ababa, Ethiopia, to participate in the 38th Ordinary Session of the Assembly of the African Union (AU) Heads of State and Government. The President, who arrived on Thursday night, was received at the airport by the Ethiopian deputy chief of protocol, Eshetu Legesse, the Nigerian minister of foreign affairs, Ambassador Yusuf Tuggar, and the charge d’affaires of the Nigerian embassy in Ethiopia, Ambassador Nasir Aminu. Ambassador Tuggar later briefed President Tinubu about the summit and some diplomatic wins for the country, a session that stretched until about 2a.m. on Friday. Among the wins was…

Nigeria has decided to set up a special security team to protect its power installations and infrastructure “We have decided now with the Minister of Power to have what we call the power rangers,” Minister of Interior Olubunmi Tunji-Ojo, said on Friday during an appearance on Sunrise Daily. The ‘power rangers’ will be created with officers of the Nigeria Security and Civil Defence Corps (NSCDC) and will be responsible for stopping the vandalism of power infrastructure which has caused blackouts across the country. Amid growing reports of vandals damaging power installations and outcry over frequent blackouts sometimes caused by vandalism, the…

The Russian Football Union (RFU) says the country’s men’s national team will take on the Super Eagles of Nigeria in an international friendly on June 6. RFU announced the fixture in a statement on its website on Thursday. The match is scheduled to be played in Russia, but the time and venue are still undecided. Russia will play two other friendly matches. The team takes on Zambia in March before facing Belarus on June 10. RFU said it “reached agreements” with the Nigerian Football Federation (NFF) and the two other national football bodies to arrange the friendly matches. However, Russia was banned from…

The Nigerian Content Development and Monitoring Board (NCDMB) wishes to firmly and unequivocally rebut the false, malicious, and misleading publication by Sahara Reporters on February 12, 2025, titled – EXCLUSIVE: NIGERIAN CONTENT BOARD NCDMB BOSS OGBE SPENDS N7 BILLION ON CONSULTANCY, OVER 580 MILLION ON 5-DAY LONDON TRAINING, LOGISTICS, ALLOWANCES. The publication is riddled with falsehoods, gross inaccuracies and baseless inferences. We wish to state that neither the Board nor the Executive Secretary spent the amount stated in the headline of the referenced statement. It is a fact that in 2017, the Board developed a 10-Year Strategic Roadmap underpinned by…

The National Assembly on Thursday passed the ₦54.99trn 2025 Appropriation Bill. The bill was passed separately by the Senate and the House of Representatives. A breakdown of the budget showed N3.645trn for statutory transfers, N14.317trn for debt servicing, N13.64trn for recurrent expenditure and N23.963trn capital expenditure (development fund), with fiscal deficit put at N13.08trn. The Deficit-to-Gross domestic product (GDP) Ratio was put at 1.52%. Last Week, President Bola Tinubu increased the 2025 fiscal year budget from an initial N49.7trn to N54.2trn, seeking approval from the Senate and the House of Representatives. The Chairman of the House Committee on Appropriations, Abubakar…

The Senate has urged the Federal Government to prioritise the rehabilitation of the nation’s deteriorating road infrastructure, underscoring the urgent need for improved connectivity across all regions. Lawmakers also called for the extension of the Renewed Hope Super Highway Road Project to the North-East to ensure the region’s full integration into national economic activities. The call for inclusion followed a motion moved by Senator Mohammed Danjuma Goje representing Gombe Central. Senator Goje in the motion entitled: ‘Federal Government’s Approval of ₦4.2trillion for the Construction of Lagos – Calabar Coastal Road and Other Road Projects Nationwide’, lamented that out of the…

The Deputy Speaker of the House of Representatives, Mr. Benjamin Okezie Kalu has urged the United Nations to give Africa, especially Nigeria a permanent seat at the Security Council. Mr Kalu emphasized the need to redefine multilateralism to accommodate the pressing needs of developing countries. While speaking at the Heads of Parliaments meeting at the United Nations Headquarters, New York, United States of America, USA and in preparation for the 6th World Conference of Speakers of Parliament in Geneva, Switzerland in July under the auspices of the Inter-Parliamentary Union (IPU), Kalu stressed that the current multilateral approach is driven by…