Imports bill on used vehicles (Tokunbo) in Nigeria dropped by 83 percent to N138.62 billion in the first half of 2024 compared to N819.15 billion the corresponding period in 2023. This is according to the National Bureau of Statistics, NBS, Commodity Price Indices and Terms of Trade Data. According to the data, in Q2 2024, the value of imported used vehicles stood at N138.62 billion, representing an 81.5 percent decline on a year-on-year basis from N749.92 billion in Q2 2023. Further analysis of the data indicated that the used vehicles were imported mainly from the United States of America. “On…
Author: Khadijah Olowode
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The World Bank on Monday, 30 September, 2024 announced that it has approved an additional $1.57 billion loan to the Nigerian government to fund three projects. The Washington-based bank, which made this disclosure in a statement issued on Monday, 30 September, 2024, noted that new funding will support Nigeria in addressing governance challenges in education and healthcare, improving primary healthcare services, and increasing resilience to climate change through enhanced dam safety and irrigation infrastructure. According to the World Bank, the approval of the loan was made last week, 26 September, 2024. The approved funding highlights the World Bank’s commitment to strengthening…
Tragedy occurred on Sunday, 29 September, 2024 as a commercial bus driver named Usman Idris crushed six pedestrians along Kano-Gumel road, in Gagarawa village, Ringim LGA of Jigawa State. According to a resident, the sad incident occured on Sunday, 29 September, 2024 when the victims were marching on the street while celebrating Maulud. He said the driver lost control and rammed into the gathering, killing six while many others sustained injuries. Jigawa State Police Command Public Relations Officer, Spokesman, DSP Lawan Shiisu Adam confirmed the incident in a statement issued to newsmen on Monday, 30 September, 2024 “A fatal motor…
The National Assembly on Monday, 30 September, 2024 commenced investigation into the alleged N15 million bribery involving controversial cross-dresser Idris Okuneye, known as Bobrisky The hearing, held by the House Committees on Financial Crimes and Reformatory Institutions, began around 2:05 p.m. following the arrival of Martins Otse, also known as VeryDarkMan, and his lawyer, Deji Adeyanju. Recall that the scandal started after VeryDarkMan released a voice recording allegedly of Bobrisky, claiming EFCC officials demanded N15 million to drop the money laundering charge against him. In the recording, Bobrisky also claimed that he never spent a day in prison after his…
The Federal Government has handed over 64 Compressed Natural Gas (CNG) buses to representatives of the Trade Union Congress (TUC), the Nigerian Labour Congress (NLC), and the National Association of Nigerian Students (NANS). When deployed for commuter service, the buses will significantly reduce transportation costs in the country, bringing hope for a more affordable and efficient public transport system. The handover of the buses took place on Sunday, 29 September, 2024, at the State House Conference Centre, Abuja, as part of activities marking Nigeria’s 64th independence anniversary. The Coordinating Minister of the Economy and Minister of Finance, Wale Edun, led…
The former Auditor-General for Local Governments in Lagos State, Alhaji Muhammad Mubashiru Hassan has described the Senior Special Assistant to the President on Sustainable Development Goals (SSAP-SDGs), Princess Adejoke Orelope-Adefulire as a role model worthy of emulation by others, reports thegazellenews.com Hassan popularly called MM by friends and associates stated this while greeting the SSAP-SDGs on her 65th birthday celebration. “Her humility, accomodating nature and the ability to give without making noise is worth of emulation by others, particularly politicians,” Hassan said. He described the former Lagos State Deputy Governor as one who is always ready to help others. “You…
The Federal Government has reaffirmed its commitment to supporting micro, small, and medium enterprises through tax incentives aimed at fostering growth and sustainability in the sector. This was disclosed recently by the Executive Chairman of the Federal Inland Revenue Service, Executive Chairman, Zacch Adedeji, who was represented by his special adviser, Collins Omokaro, at the inaugural MSME Finance Awards convened by The Economic Forum Series in partnership with Nairametrics and DigiComm Enterprise. He explained that the federal government was focused on creating an environment that enabled MSMEs by providing tax relief and exemptions. “The Federal Government, through FIRS, has introduced…
Delta State Governor, Rt. Hon. Sheriff Oborevwori, has urged Nigerians to remain optimistic and not be overwhelmed by the present economic challenges bedeviling the nation. Rather, he urged them to remain positive, noting that tough times don’t last, but tough people do by effectively surmounting challenges facing them. Governor Oborevwori made the call at an inter-denominational thanksgiving service held on Sunday, at the Cathedral Church of St. Peters, Asaba, to mark the country’s 64th Independence Anniversary. The Governor, who paid glowing tributes to the founding fathers of the country, urged Nigerians to remain hopeful and united, adding that a new…
The Chairman, Yaba College of Technology, Governing Council, Prof. Funsho Afolabi has disclosed that the College tourism road maps towards professionalism and sustainable blue economy is engendering and aligning with the federal government Renewed Hope Agenda. The Chairman made the disclosure during the 2024 United Nation’s World Tourism Day celebration held at the institution’s Tourism Village at her Epe campus in collaboration with Nigerian Tourism Development Authority (NTDA) South West Zone wit the theme: “Tourism and Peace”. Prof. Afolabi, who was the chairman of the occasion, said “there is no doubt of the fact that, by this assembly, we have…
This December, the highly anticipated GLOWFUX 2024 Charity Concert will spotlight extraordinary youth talent while supporting special needs children and orphans. Organized by Fanafillit Integrated Concepts, this year’s concert will feature captivating performances from some of Nigeria’s most promising young entertainers, including Feranmi Golden Angel, Vanessa Jones, Chief Adigun Olowe and saxophonist Dom Sax, all aged between 7 and 16. Under the theme “UNITING HEARTS, TRANSFORMING LIVES,” the GLOWFUX 2024 Charity Concert aims to showcase the power of youth creativity in fostering positive change. Speaking on the event’s mission, Miss Rebecca Olaniyan, the concert’s coordinator, remarked, “This year’s event is…