Tag: Naija News

Tinubu signs N54.99tn 2025 budget into law

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President Bola Tinubu has signed into law the N54.99tn 2025 Appropriation Bill. Tinubu signed the budget in the presence of principal officers of the National Assembly and other top government officials in a small ceremony in his office at the State House, Abuja, on Friday. The bill was passed by the two Chambers of the National Assembly on Thursday, February 13, after Tinubu asked for an increase from the proposed N49.7tn. The National Assembly approved a ₦54.99 trillion ($36.6bn) budget for the fiscal year, surpassing President Bola Tinubu’s initial proposal…

Telecom sector regulatory framework to be reviewed — Tinubu

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Tinubu Sacks PTAD Boss

President Bola Tinubu has said the telecoms sector’s regulatory framework and operations would be reviewed to reflect global best practices, with a greater focus on protecting infrastructure. He made the assertion on Thursday at a meeting with an Airtel delegation led by Chairman Sunil Bharti Mittal at the State House. “I am grateful for your openness, readiness, and confidence, which moved us very close to the Prime Minister of India. When he was here, we discussed things at length. “The entire ecosystem will be further examined, and if there is…

CBN’s Strategy: Stabilizing the Naira and Combating Inflation

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The Central Bank of Nigeria (CBN) and its Monetary Policy Committee (MPC) have implemented strategic measures to stabilize the naira and control inflation, marking a significant shift in the nation’s macroeconomic direction. At the 299th MPC meeting, held on February 19 and 20, 2025, the committee decided to maintain the Monetary Policy Rate (MPR) at 27.5 percent, demonstrating a commitment to balancing inflation control with exchange rate stability. CBN Governor Olayemi Cardoso announced this decision, emphasizing the unanimous agreement to retain all parameters, including the asymmetric corridor, cash reserve ratio,…

BREAKING: We’re going to review electricity tariff for Band B, C customers – FG

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The Federal Government has announced plans to review electricity tariffs for Band B and C customers as part of efforts to improve the power sector and encourage investment. Minister of Power, Adebayo Adelabu, made this revelation during the public presentation of the National Integrated Electricity Policy and Nigeria Integrated Resource Plan on Thursday in Abuja. Adelabu clarified that the review does not necessarily mean an increase in tariffs but rather an assessment to enhance last year’s progress and ensure the sector’s growth. He stated that the government aims to invest…

EFCC warns Nigerians against fake TikTok accounts

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'EFCC Recovered Over N200bn, Convict 3,000 In One Year'

The Economic and Financial Crimes Commission has alerted the public about fraudulent activities involving fake TikTok accounts impersonating the agency. In a statement on Thursday, EFCC spokesperson, Dele Oyewale, explained that the commission does not operate a TikTok account. He revealed that fraudsters organised a live session on the platform using the commission’s logo to mislead and defraud unsuspecting individuals. According to him, the scammers reportedly used six fake accounts with misleading names, including “EFCC of Nigeria,” “EFCC Lagos,” “EFCC Delta,” “EFCC of Benin,” “EFCC of Jos,” and “EFCC Saga.”…

Mass Distribution: Kwara Equips Pupils with Educational and Sports Resources

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Governor AbdulRahman AbdulRazaq of Kwara State launched a major initiative on Thursday, distributing substantial educational and sports resources to primary and junior secondary schools. The distribution included 73,365 textbooks across core subjects, 12,780 primary library sets, specialized education materials, furniture for early childhood development, 3,931 sports kits, agricultural tools, and 78 tablets. The governor emphasized that this program reflects his administration’s strong commitment to basic education, aiming to significantly reduce the number of out-of-school children. Represented by the Commissioner for Education and Human Capital Development, Sa’adatu Kawu, he highlighted that…

MultiChoice Price Hike Under Scrutiny: FCCPC Launches Investigation

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The Federal Competition and Consumer Protection Commission (FCCPC) has mandated MultiChoice Nigeria, the operator of DStv and GOtv, to maintain its current subscription prices. This directive is in place while the FCCPC conducts an investigation into the company’s planned tariff adjustments. The commission’s decision to freeze prices is primarily to prevent potential consumer exploitation during the investigative period. This directive was communicated through a statement issued by Ondaje Ijagwu, Director of Corporate Affairs for the FCCPC, on Thursday. Although the FCCPC granted MultiChoice’s request for a postponement of a prior…

Atiku condemns Tinubu’s silence on Lagos assembly crisis

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Former Vice President Atiku Abubakar has criticsed President Bola Tinubu for his silence over the crisis rocking the Lagos State House of Assembly. He described it as a tacit endorsement of anti-democratic tactics aimed at subverting the will of lawmakers. Atiku, in a statement signed by his media aide, Paul Ibe, on Thursday, condemned what he called “backdoor tactics” and the use of state-backed security forces to reverse the removal of former Speaker Mudashiru Obasa, despite his ousting by an overwhelming majority of Assembly members. Obasa had stormed the Lagos…

Trump unveils $5m ‘gold card’ visa to attract wealthy immigrants

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US President Donald Trump unveiled plans Tuesday to sell new “gold card” residency permits for a price of $5 million each — and said Russian oligarchs may be eligible. Trump said sales of the new visa, a high-price version of the traditional green card, would bring in job creators and could be used to reduce the US national deficit. “We’re going to be selling a gold card. You have a green card, this is a gold card. We’re going to be putting a price on that card of about $5…

Obasa awaiting ruling before returning to Assembly – Lawyer

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The legal team of ousted Speaker of the Lagos State House of Assembly, Mudashiru Obasa, has said there is no plan to withdraw the suit filed to challenge his removal as Speaker. Obasa’s lead counsel, Chief Afolabi Fashanu (SAN),  said he was prepared for the court hearing fixed for February 28, notwithstanding the moves to resolve the Assembly crisis politically. Fashanu also explained that Obasa does not plan to return to the Assembly until after he has obtained a judgment from the court. According to Fashanu,  it could amount to…