Author: Vardiafrica

The federation account allocation committee (FAAC) says the three tiers of government shared N1.358 trillion in July. This represents N4 billion increase compared to the N1.354 trillion shared in June. On Friday, FAAC held its August meeting chaired by Wale Edun, minister of finance and coordinating minister of the economy. According to a statement by Mohammed Manga, director, information and public relations, ministry of finance, FAAC shared the amount from a total revenue of N2.61 trillion available in July. The revenue breakdown showed that statutory revenue was N161.5 billion, value-added tax (VAT) was N528 billion; electronic money transfer levy (EMTL) was N18.8 billion,…

President Bola Tinubu has returned to Nigeria after a three-day official visit to Equatorial Guinea. The jet conveying the president touched down at the presidential wing of the Nnamdi Azikiwe International Airport, Abuja, at about 6.30pm on Friday. Tinubu was received by Femi Gbajabiamila, his chief of staff (CoS); George Akume, secretary to the government of the federation (SGF); Nyesom Wike, minister of the federal capital territory (FCT); and Hope Uzodimma, governor of Imo, among others. While in Equatorial Guinea, Tinubu, along with Teodoro Mbasogo, the country’s president, signed an agreement on the Gulf of Guinea pipeline project, further affirming…

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has warned filling stations against selling premium motor spirit (PMS), also known as petrol, to black marketers. In a post on X on Thursday, NMDPRA said failure to comply would result in suspension of licences. “NMDPRA embarks on a war against the illegal sale of petroleum products, especially PMS, in jerrycans. Filling stations are advised to desist from servicing illegal peddlers; failure to do so will result in the suspension of retail licences,” the regulator said. This directive follows a stakeholders’ meeting held in Abuja, where NMDPRA officials met with major retail outlet…

A Chinese firm, Zhongshan Fucheng Industrial Investment Company has announced the release of one of the three Nigerian presidential jets seized on the order of a French court. The company’s spokesperson disclosed this in a statement on Friday. According to the company, the release of the aircraft is a gesture of goodwill as they have been made aware that the Nigerian President, Bola Tinubu would be needing it for a scheduled meeting with French President, Emmanuel Macron. “It has now been made aware that an Airbus A330, currently detained in France as a result of a French court order obtained…

The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omatsola Ogbe on Friday commissioned the 10,000 Tons per annum galvanizing plant constructed by Daewoo Engineeering Nigeria Limited, one of the engineering, procurement, and construction (EPC) contractors of the Nigeria LNG Limited (NLNG) Train 7 Project. The ceremony which held at Daewoo Galvanising Plant at Abam-ama, Okrika, Rivers State was attended by the Managing Director and Chief Executive Officer of NLNG, Dr. Philip Mshelbila. The Galvanizing plant is one of the capacity development interventions for the Train 7 project and the establishment is sequel to NCDMB’s…

The Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omatsola Ogbe, on Tuesday visited the facilities of BEAMCO Nigeria Limited in Lagos and commended the oil and gas service firm for the giant strides it recorded in oil and gas equipment components manufacturing. Specifically he lauded the Nigeria Liquefied Natural Gas (NLNG) Limited, Saipem-Daewoo Joint Venture, and BEAMCO Limited for enhanced in-country value addition, as locally assembled pumps and valves are set for installation and pre-commissioning preparations on the multibillion-dollar NLNG Train-7 project on Bonny Island, Rivers State. Speaking at the load-out ceremony at BEAMCO’s facility at…

In furtherance of its long-standing support to African oil and gas producing countries and development of local content in the continent, the Nigerian Content Development and Monitoring Board (NCDMB) on Monday in Lagos began a five-day knowledge sharing programme with the Petroleum Commission of Ghana. The engagement seeks to establish technical cooperation between the NCDMB and the Ghanaian Commission through capacity building and learning from the Board’s rich experiences, best practices and procedures in local content development.Part of the objectives are to foster the Petroleum Commission of Ghana’s efforts to institute an effective framework that will enhance compliance and deepen…

The Senate, yesterday, clarified claims by the Senator representing Kano South, Sumaila Kawu, that he earned a cumulative N21million monthly in salary and allowances, saying it was false.But Kawu, has further come out to accuse former President Olusegun Obasanjo of introducing corruption to the National Assembly.At the same time, a former senator for Kaduna Central, Shehu Sani, has reiterated the need for transparency in the handling of parliamentary funds, particularly concerning senators’ salaries and the cost of running their offices. Kawu had in an interview with the BBC Hausa Service on Wednesday claimed that his “monthly salary is less than…

Sweden has confirmed its first case of the more dangerous variant of mpox, marking the first time this strain has been identified outside Africa. The World Health Organization (WHO) has declared the outbreak a global public health emergency. The Swedish Public Health Agency revealed on Thursday, August 15, that the infected individual in Stockholm was diagnosed with the Clade 1b subclade of the virus. This strain has been responsible for a significant surge in cases in the Democratic Republic of Congo (DRC) since September 2023. “A person who sought care in Stockholm has been diagnosed with mpox caused by the…

The Federal Competition and Consumer Protection Commission (FCCPC) and the Economic and Financial Crimes Commission (EFCC) have pledged to strengthen their collaboration to protect Nigerian consumers from exploitation. This commitment was made during a courtesy visit by the Executive Vice Chairman/Chief Executive Officer of the FCCPC, Mr. Tunji Bello, to the Executive Chairman of the EFCC, Mr. Olanipekun Olukoyede, in Abuja Nigeria’s capital. Mr. Bello expressed concern over the increasing cases of arbitrary price hikes, emphasising the need for a joint effort to address the issue. He commended the EFCC’s expertise in surveillance and investigation and sought its support in…