Author: Vardiafrica

The Nigerian National Petroleum Company Limited (NNPC) on Wednesday announced that it has begun a detailed review of Nigeria’s three petroleum refineries, with a view to bringing them back online. In a post on his verified personal X handle Wednesday night, the Group Chief Executive Officer of the national oil company, Bayo Ojulari, stated that one of the options being explored by the NNPC is to search for technical equity partners to ‘high-grade or repurpose’ the facilities. Tagged: “Update on Our Refineries”, Ojulari stated that the NNPC continues to remain optimistic that the refineries will operate efficiently, despite current setbacks.…

President Donald Trump has called on US military leaders to resume testing nuclear weapons in order to keep pace with other countries such as Russia and China. “Because of other countries testing programs, I have instructed the Department of War to start testing our Nuclear Weapons on an equal basis,” he wrote on social media just before meeting with Chinese President Xi Jinping in South Korea. The US has more nuclear weapons than any other country, Trump said, with Russia second and China a “distant third”. It has not conducted nuclear testing since 1992. It comes just days after Trump…

The Federal Inland Revenue Service (FIRS) has directed banks, stockbrokers, and other financial institutions to begin deducting a 10% withholding tax on interest earned from short-term securities. According to a circular issued by the agency on Tuesday, October 28, the new directive covers interest on treasury bills, corporate bonds, promissory notes, and bills of exchange, with the tax to be deducted at the point of payment. This development represents a major policy shift, as such instruments were previously exempt from taxation to encourage investor participation. However, income from federal government bonds will remain exempt from the levy. FIRS explained that…

The House of Representatives has greenlit President Bola Tinubu’s request to borrow $2.35 billion in external funds to part-finance the 2025 budget deficit, while also approving a landmark $500 million sovereign sukuk issuance in the international capital market to boost infrastructure and diversify funding sources. The approvals came on Wednesday after the lower chamber adopted the report of its Committee on Aids, Loans and Debt Management. Lawmakers authorized N1.84 trillion (equivalent to $1.23 billion at the budget rate of N1,500/$1) as new external borrowing under the 2025 Appropriation Act, targeting the N9.28 trillion deficit. An additional $1.12 billion in bridge…

President Bola Tinubu has ordered the removal of persons convicted for kidnapping, drug trafficking, human trafficking, fraud, and unlawful possession of firearms from the list of beneficiaries under the federal government’s prerogative of mercy. A statement on Wednesday by Bayo Onanuga, special adviser to the president on information and strategy, said Tinubu took the decision “following consultations with the Council of State and public opinion”. “Following consultations with the Council of State and public opinion on the matter, the President directed a further review of the initially approved list for consideration in furtherance of the President’s discretionary powers under Section…

The senate on Wednesday confirmed President Bola Tinubu’s nominees for the positions of service chiefs. Those confirmed are Olufemi Oluyede as chief of defence staff, Wahidi Shaibu as chief of army staff, Idi Abbas as chief of naval staff, and Kennedy Aneke as chief of air staff. Tinubu had, in a letter addressed to the upper chamber, requested the screening and confirmation of the nominees. The senate subsequently devoted its Wednesday plenary to the exercise, holding a closed-door session that lasted over two hours. During the session, lawmakers engaged the nominees on their plans to strengthen intelligence coordination, modernise military…

Russia has successfully tested a nuclear-capable, nuclear-powered underwater drone, President Vladimir Putin said Wednesday, defying U.S. President Donald Trump’s warnings with Moscow’s second test of a new nuclear weapons system in just a few days. Putin on Sunday oversaw a test of another advanced nuclear-capable weapon — the Burevestnik cruise missile, which he said had an “unlimited range.” Trump called that exercise not “appropriate.” “Yesterday, another test was conducted for another prospective system — the unmanned underwater device ‘Poseidon,’ also equipped with a nuclear power unit,” Putin said in televised remarks while visiting a military hospital treating Russian soldiers wounded in Ukraine. The Russian…

The European Union (EU) Parliament’s Foreign Affairs Committee has pledged to strengthen cooperation with Nigeria in the areas of security, trade, and governance, as part of ongoing efforts to deepen relations with West Africa’s largest democracy. A high-level EU delegation led by Mr. David McAllister visited the Nigerian Senate in Abuja on Tuesday, where it held discussions with Senate President Godswill Akpabio on shared priorities, regional stability, and democratic governance. “We are here to deepen our understanding of the situation in West Africa and strengthen our partnership with Nigeria,” McAllister said, describing Nigeria as a key ally in promoting peace and democratic governance across the region. Welcoming the delegation, Akpabio reaffirmed Nigeria’s commitment to closer collaboration with the…

Speaking during the graduation ceremony, the NDDC Managing Director, Dr Samuel Ogbuku, expressed joy at the milestone, stating that it would equip youths with creative skills and prepare them for a productive future. He noted that the programme represented NDDC’s shift “from transaction to transformation,” focusing on sustainable empowerment rather than short-term interventions. “We don’t believe in quantity; we believe in quality. In the past, we trained thousands for a few days and gave out starter packs. This time, we camped participants for six months to ensure real transformation,” Ogbuku said. He urged the beneficiaries to remain innovative, confident, and…

The newly appointed service chiefs have arrived at the national assembly for screening by the senate and house of representatives. On October 24, President Bola Tinubu appointed Olufemi Oluyede, a lieutenant general, as the chief of defence staff; Waidi Shaibu, a major general, as chief of army staff; and Sunday Kelvin Aneke, an air vice marshal, as the chief of air staff. He also named Idi Abbas, rear admiral, as chief of naval staff, while Emmanuel Akomaye Undiandeye, a major general, retained his position as chief of defence intelligence. Tinubu sacked the previous service chiefs following growing public pressure for…