TodayPrice

Author: Val Kosi

  • “I feel frustrated fixing Nigerian roads” Umahi Decries

    “I feel frustrated fixing Nigerian roads” Umahi Decries

    Minister of Works Senator David Umahi has declared the government’s N827 billion road budget for 2025 severely inadequate, painting a sobering picture of the nation’s infrastructure crisis.

    During Friday’s Senate Committee on Works 2025 budget defense session in Abuja, Umahi disclosed that President Bola Tinubu’s administration inherited a staggering 2,064 road projects valued at N13 trillion. This figure has since ballooned to an estimated N18 trillion due to escalating costs.

    “I’ve succeeded in most of my life’s engagements, but I feel frustrated fixing Nigerian roads with these meager allocations,” Umahi admitted, in an unusually candid moment for a federal minister.

    The funding shortfall presents a critical challenge for Nigeria’s economic development. Industry experts note that robust road infrastructure is fundamental to poverty reduction and economic growth, serving as arteries for commerce and job creation.

    “Roads are critical to economic growth and poverty reduction,” Umahi emphasized. “They create jobs and drive economic activities. However, fixing these roads cannot be achieved with yearly budget provisions alone.

    The Works Minister’s frustration reflects a broader crisis in infrastructure funding. According to the African Development Bank’s 2023 infrastructure report, Nigeria requires approximately $3 trillion in infrastructure investment over the next 30 years to bridge its infrastructure gap.@

    Senator Mpigi Barinaga, leading the Senate Committee on Works, praised Umahi’s efficient resource management while acknowledging the necessity for alternative funding mechanisms. The committee’s support signals a potential shift toward more innovative financing solutions.

    Umahi urged public support for President Tinubu’s borrowing initiatives, arguing that such investments would stimulate economic activities and address poverty.

    “Every naira invested in road infrastructure translates to improved living conditions for our citizens,” he stated.

    The session concluded with a unanimous agreement on exploring additional funding options, including public-private partnerships and infrastructure bonds, to address Nigeria’s mounting road infrastructure needs.

    For Nigeria’s 200 million citizens, the resolution of this funding crisis could mean the difference between continued infrastructure decay and a path toward sustainable economic growth.

  • TCN: No National Grid Collapse, Only Transmission Lines Tripped

    TCN: No National Grid Collapse, Only Transmission Lines Tripped

    The Transmission Company of Nigeria (TCN) has debunked reports claiming a national grid collapse, clarifying that the incident involved a tripping of transmission lines and affected only parts of the country.

    In a statement titled “Benin-Omotosho Line Tripping, Not System Collapse”, TCN explained that the disruption, which occurred at 1:41 p.m. on Friday, was misrepresented by some media outlets as a nationwide grid collapse.

    “TCN hereby states that the nation’s grid did not experience any collapse today, contrary to the widely-published misinformation in the media,” the statement read.

    The company explained that the incident began when the Oshogbo-Ihovbor line tripped, followed by the tripping of the Benin-Omotosho line, which caused power supply disruptions in the Lagos axis.

    “At about 13:41 hours (1:41 p.m.), the Oshogbo-Ihovbor line tripped, followed by the tripping of the Benin-Omotosho line. This consequently affected bulk supply to only the Lagos axis alone,” TCN noted.

    Providing additional details, the company stated that grid generation at the time of the tripping was 4,335.63MW. After the incident, total generation dropped to 2,573.23MW, highlighting that the grid itself remained operational.

    “The transmission line tripping affected Egbin, Olorunsogo, Omotosho, Geregu, and Paras. But these have all been restored except for the Benin-Omotosho 330KV line whose restoration is ongoing,” TCN added.

    The company emphasized the importance of accurate reporting to avoid public panic and misperceptions about the state of the nation’s power infrastructure.

    “As TCN continues to work hard to put in place a robust transmission grid in spite of prevailing challenges, it is imperative that we understand the negative impact of deliberately misinforming the public and the value of disseminating true and verifiable facts,” the statement concluded.

  • Emir Sanusi Appeals for Calm After Appeal Court Ruling in His Favor

    Emir Sanusi Appeals for Calm After Appeal Court Ruling in His Favor

    The Emir of Kano, Muhammadu Sanusi II, has called for calm and urged residents to resist any actions that could provoke unrest in the ancient city.

    The emir appealed in a viral video on Friday, following the ruling of the Court of Appeal, which affirmed his position in an ongoing legal dispute.

    Sanusi cautioned against attempts to instigate violence in Kano, noting that those who seek to disrupt the state’s peace will ultimately face the consequences of their actions.

    “As you all know, the Appeal Court has confirmed today that the Federal High Court has no jurisdiction over emirate issues. This judgment was expected, and those who initiated the case in court knew this all along,” he said.

    The monarch criticized individuals who influenced earlier judicial decisions and accused them of pursuing selfish interests aimed at destabilizing the state.

    “Even the judge who issued the initial order was aware of the limits of his jurisdiction. Those who influenced him to make that decision also knew the truth. However, for the past eight months, they have aimed to promote selfish interests and instigate unrest in this part of the country,” Sanusi said.

    Despite the provocations, he commended the people of Kano for maintaining peace.

    “Our greatest achievement is that the state has remained peaceful. There has been no violence or disorder. We call on everyone to continue maintaining peace and unity,” he said.

    The emir also emphasized the need for prayer and divine intervention in resolving the state’s challenges.

    “This battle is not ours but God’s. And God does not need anyone’s help. Let us keep praying for His guidance and intervention. May God protect us, and whoever seeks to ignite chaos in Kano, may that fire consume them instead,” he added.

    Sanusi appealed to residents not to engage in any retaliatory actions and to uphold the state’s long-standing reputation for peace and harmony.

    “To those who wish harm upon Kano or its peace, may they face the consequences of their wishes. They may attempt to provoke violence, but let us not respond to their actions. Let us not engage them in any way. Whoever questions God’s judgment will ultimately face the consequences of doing so,” he concluded.

     

  • Army Chief Approves Major Redeployment of Senior Officers [Full List]

    Army Chief Approves Major Redeployment of Senior Officers [Full List]

    The Chief of Army Staff, Lt.-Gen. Olufemi Oluyede, has approved the redeployment of top officers in the Nigerian Army to enhance operational effectiveness and administrative efficiency.

    The development was announced on Saturday in Abuja by Major-Gen. Onyema Nwachukwu, the Director of Army Public Relations.

    Nwachukwu described the redeployment as a strategic move to strengthen the army’s leadership structure in addressing emerging security challenges across the country.

    The shake-up involves Corps Commanders, Principal Staff Officers (PSOs), General Officers Commanding (GOCs), Commanders, Commandants of Army Training institutions, Brigade Commanders, and other key appointments.

    Key Appointments and Redeployments

    Among the notable changes, senior officers appointed as Principal Staff Officers at the Army Headquarters include:

    • Maj.-Gen. Lawrence Fejokwu: Redeployed from National Defence College to the Department of Army Administration as Chief of Administration (Army).
    • Maj.-Gen. GU Chibuisi: Moved from Nigerian Army Resource Centre (NARC) to the Department of Civil-Military Affairs, appointed Chief of Civil-Military Affairs.
    • Maj.-Gen. AS Ndalolo: Redeployed from NARC to the Department of Army Training as Chief of Training (Army).
    • Maj.-Gen. Olusegun Abai: Appointed Chief of Transformation and Innovation, transferred from the Department of Army Training.
    • Maj.-Gen. JH Abdussalam: From Headquarters 6 Division to the Department of Special Services and Programmes as Chief of Special Services and Programmes.
    • Maj.-Gen. EI Okoro: Redeployed to the Department of Military Secretary as Military Secretary (Army).

    For General Officers Commanding (GOCs):

    • Maj.-Gen. OT Olatoye: Assigned to 82 Division/Joint Task Force (JTF) South-East Operation UDO KA.
    • Maj.-Gen. EF Oyinlola: Posted to Headquarters 3 Division as GOC 3 Division/Commander Operation SAFE HAVEN (OPSH).
    • Maj.-Gen. AGL Haruna: Confirmed as GOC 7 Division/Commander Sector 1 JTF North-East Operation HADIN KAI.
    • Maj.-Gen. IA Ajose: Appointed GOC 8 Division/Commander Sector 2 JTF North-West Operation FANSAN YANMA.

    Other significant redeployments include:

    • Maj.-Gen. GO Adeshina: From Headquarters Nigerian Army Signals to Nigerian Army Heritage and Future Centre (NAHFC) as Director General.
    • Maj.-Gen. GM Mutkut: Assigned as Force Commander, Headquarters Multi-National Joint Task Force N’Djamena.
    • Maj.-Gen. Markus Kangye: Moved to Defence Headquarters as Director of Media Operations.
    • Maj.-Gen. Obinna Ajunwa: Posted to Nigerian Army Armour Corps as its Commander.
  • TCN: No National Grid Collapse, Only Transmission Lines Tripped

    TCN: No National Grid Collapse, Only Transmission Lines Tripped

    The Transmission Company of Nigeria (TCN) has debunked reports claiming a national grid collapse, clarifying that the incident involved a tripping of transmission lines and affected only parts of the country.

    In a statement titled “Benin-Omotosho Line Tripping, Not System Collapse”, TCN explained that the disruption, which occurred at 1:41 p.m. on Friday, was misrepresented by some media outlets as a nationwide grid collapse.

    “TCN hereby states that the nation’s grid did not experience any collapse today, contrary to the widely published misinformation in the media,” the statement read.

    The company explained that the incident began when the Oshogbo-Ihovbor line tripped, followed by the tripping of the Benin-Omotosho line, which caused power supply disruptions in the Lagos axis.

    “At about 13:41 hours (1:41 p.m.), the Oshogbo-Ihovbor line tripped, followed by the tripping of the Benin-Omotosho line. This consequently affected bulk supply to only the Lagos axis alone,” TCN noted.

    Providing additional details, the company stated that grid generation at the time of the tripping was 4,335.63MW. After the incident, total generation dropped to 2,573.23MW, highlighting that the grid itself remained operational.

    “The transmission line tripping affected Egbin, Olorunsogo, Omotosho, Geregu, and Paras. But these have all been restored except for the Benin-Omotosho 330KV line whose restoration is ongoing,” TCN added.

    The company emphasized the importance of accurate reporting to avoid public panic and misperceptions about the state of the nation’s power infrastructure.

    “As TCN continues to work hard to put in place a robust transmission grid despite prevailing challenges, we must understand the negative impact of deliberately misinforming the public and the value of disseminating true and verifiable facts,” the statement concluded.

     

  • Tinubu Attempted to Mediate Lagos Assembly Crisis Before Obasa’s Impeachment, Says APC Chieftain

    Tinubu Attempted to Mediate Lagos Assembly Crisis Before Obasa’s Impeachment, Says APC Chieftain

    Fouad Oki, a chieftain of the All Progressives Congress (APC), has revealed that President Bola Ahmed Tinubu made efforts to resolve the leadership crisis in the Lagos State House of Assembly before Speaker Mudashiru Obasa was impeached.

    On Monday, lawmakers impeached Obasa over allegations of misconduct and financial impropriety. He was replaced by his former deputy, Mojisola Meranda.

    Speaking on Channels Television, Oki said Tinubu intervened during the Christmas holiday after the Governor’s Advisory Council (GAC) brought the matter to his attention. However, Obasa’s alleged unwillingness to cooperate led to his removal.

    “Before the president came home, this issue had been lingering. In the wisdom of members of the GAC, the president’s attention was called,” Oki said.

    “The president, as father and leader, called a meeting wherein he tried to make sense of the observations raised by elders of the party. Unfortunately, the president saw himself as a recalcitrant Obasa. I think that is what broke the camel’s back.”

    Oki described Obasa’s impeachment as the result of longstanding tensions within the assembly and the former speaker’s failure to heed the advice of party elders.

     

  • Governor Makinde Presents Staff of Office to New Alaafin Amid Controversy

    Governor Makinde Presents Staff of Office to New Alaafin Amid Controversy

     

    Governor Seyi Makinde of Oyo State has officially presented the staff of office and certificate of recognition to Abimbola Owoade, the newly appointed Alaafin of Oyo.

    The presentation ceremony took place at the Oyo State Government House in Ibadan. The announcement of Owoade as Alaafin was made by the governor on January 10, 2025, following recommendations from the Oyomesi (kingmakers).

    Dotun Oyelade, Oyo State Commissioner for Information and Orientation, confirmed the governor’s approval of Owoade’s appointment, stating that it followed due process as advised by the kingmakers.

    Shortly after the announcement, a faction of the Oyomesi rejected Owoade’s appointment, citing procedural irregularities.

    The dissenting members of the Oyomesi, led by Yusuf Akinade (Basorun) and joined by other kingmakers and warrant chiefs, claimed that the selection process violated the Alaafin of Oyo Chieftaincy Declaration of 1967.

    According to the faction, the Alaafin is traditionally chosen through a process guided by the declaration and not through consultation or divination as stated by Governor Makinde.

  • Five Katsina Revenue Officials in EFCC Net Over Alleged N1.29 Billion Fraud

    Five Katsina Revenue Officials in EFCC Net Over Alleged N1.29 Billion Fraud

    The Economic and Financial Crimes Commission (EFCC) has detained five officials of the Katsina State Internal Revenue Service over allegations of diverting N1.29 billion in state funds.

    In a statement on Monday, EFCC spokesperson Dele Oyewale revealed that the suspects colluded to misappropriate funds meant for the Katsina State Government. The detained officials are Rabiu Abdullahi, Sanusi Mohammed Yaro, Ibrahim Kofar Soro, Ibrahim Aliyu, and Nura Lawal Sauri.

    “They were arrested following a petition from the Katsina state government alleging that the suspects colluded and diverted the sum of N1,294,337,676.53 accruing to the state from the World Health Organization (WHO), Medicins Sans Frontiers, and the **Alliance for International Medical Action (ALIMA),” the statement read.

    The EFCC’s preliminary investigation revealed that Rabiu Abdullahi, a former director of collections and now permanent secretary of the revenue board, authorized the opening of a bank account at Sterling Bank under the name “BOIRS.” He allegedly designated Sanusi Mohammed Yaro, Director of Revenue Account, and Ibrahim Kofar Soro as sole signatories to the account.

    “Subsequently, the account became the primary channel through which all the funds were allegedly funneled to the main beneficiary, Nadikko General Suppliers, a company owned and controlled by Nura Lawal Kofar Sauri, an assistant director of career skills/staff welfare of the board,” the EFCC said.

    The commission further revealed that Nura Lawal and his company, Nadikko General Suppliers, were used as conduits to launder the stolen funds. The misappropriated funds were traced to various bank accounts belonging to the suspects.

    The EFCC confirmed that the suspects are being held at its Kano Zonal Command and will face legal charges upon the conclusion of investigations.

  • CBN Fines Nine Banks N1.35bn for Failing to Ensure ATM Cash Availability During Festive Season

    CBN Fines Nine Banks N1.35bn for Failing to Ensure ATM Cash Availability During Festive Season

    The Central Bank of Nigeria (CBN) has imposed fines totaling N1.35 billion on nine Deposit Money Banks (DMBs) for failing to ensure cash availability via automated teller machines (ATMs) during the festive season.

    In a statement issued on Tuesday, the CBN’s acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, disclosed that each bank was fined N150 million following spot checks that revealed non-compliance with the apex bank’s cash distribution guidelines.

    “In a clear message of zero tolerance for cash flow disruptions, the Central Bank of Nigeria has sanctioned Deposit Money Banks for failing to make naira notes available through automated teller machines during the yuletide season,” the statement read.

    The affected banks include:

    • Fidelity Bank Plc
    • First Bank Plc
    • Keystone Bank Plc
    • Union Bank Plc
    • Globus Bank Plc
    • Providus Bank Plc
    • Zenith Bank Plc
    • United Bank for Africa Plc
    • Sterling Bank Plc

    The fines will be directly debited from the banks’ accounts with the CBN.

    The apex bank emphasized that the enforcement action follows repeated warnings to financial institutions to ensure seamless cash availability, especially during periods of high demand.

  • US Grants Nigeria $2 Million for Fibre Optic Infrastructure Assessment

    US Grants Nigeria $2 Million for Fibre Optic Infrastructure Assessment

    In a significant step towards enhancing Nigeria’s digital infrastructure, the United States has announced a $2.095 million grant to assess the viability of deploying 90,000 kilometers of new fiber optic backbone infrastructure across the country. This pivotal agreement was reached during the inaugural U.S.-Nigeria Technology Dialogue held in Washington D.C., a high-level event aimed at strengthening bilateral cooperation in critical technology sectors.

    Led by Deputy Secretary of State Kurt Campbell, the dialogue brought together senior officials from both nations, including Nigerian Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani. The event served as a crucial platform for addressing key opportunities and challenges in the digital transformation landscape.

    “This partnership is a testament to the shared commitment of the United States and Nigeria to harnessing the power of technology for economic growth and social progress,” stated Deputy Secretary Campbell. “By improving digital infrastructure and connectivity, we can empower Nigerians with access to information, education, and economic opportunities.”

    Fibre Optic Grant to Support Nigeria’s Broadband Ambitions

    Funded by the U.S. Trade and Development Agency (USTDA), this project aligns perfectly with Nigeria’s National Broadband Plan 2020-2025, which aims to increase broadband penetration from 42.27 percent to 70 percent and ensure 90 percent of the population has access to affordable and reliable broadband.

    “This grant is a critical step towards achieving our ambitious broadband goals,” said Dr. Tijani. “By assessing the feasibility of this massive infrastructure project, we can lay the foundation for a truly connected Nigeria, unlocking significant economic and social benefits for our citizens.”

    Human Capital and AI

    The U.S.-Nigeria Technology Dialogue encompassed a wide range of critical issues. Discussions centered around enhancing the resilience and security of essential services, promoting digital trade and e-commerce, and developing a skilled workforce to meet the demands of the digital age.

    Furthermore, the dialogue explored the burgeoning field of artificial intelligence (AI), focusing on capacity building, infrastructure development, and ethical AI governance.

    Fostering Innovation and Addressing Critical Issues

    Two insightful panel discussions further enriched the dialogue. The first, focusing on “Advancing Public-Private Sector Investment in Innovation and Digital Talent Development,” highlighted the critical role of collaboration in fostering innovation and nurturing a skilled digital workforce.

    The second panel delved into the crucial interplay between critical infrastructure and the development and deployment of AI technologies. This discussion emphasized the need for robust governance frameworks to ensure the responsible and inclusive development of AI in Nigeria.

    Looking Ahead

    The U.S.-Nigeria Technology Dialogue marks a significant milestone in the growing bilateral relationship. This initiative lays the groundwork for continued collaboration on a range of critical technology issues, including cybersecurity, digital health, and the development of a sustainable digital economy.

    By working together, the United States and Nigeria can leverage the power of technology to create a more prosperous, inclusive, and secure future for all citizens.