The ongoing forex crisis in Nigeria is emerging as a significant threat to the operations of modular refineries, potentially impacting their ability to maintain a daily crude input valued at N25 billion. The Infosride delves into the details of the forex challenge faced by modular refineries, the potential consequences for daily crude processing, and the broader implications for the country’s energy sector and economy. Forex Crisis and Its Impact on Modular Refineries: 1. Dependency on Forex for Crude Purchase: – Modular refineries, like other players in the oil and gas sector, heavily depend on foreign exchange (forex) to purchase crude…
Author: Temitope N.
In a significant development, a prominent economic advisory panel formed by Bola Tinubu includes governors, business leaders such as Tony Elumelu and Aliko Dangote, and other influential figures. The panel is poised to play a crucial role in shaping economic strategies and policies. The Infosride delves into the composition of the panel, the potential impact of their recommendations, and the broader implications for economic governance and development. Key Members of Tinubu’s Economic Advisory Panel: 1. Governors: – The inclusion of governors in the economic advisory panel signifies a collaborative approach to economic decision-making. Governors, being key figures in state governance,…
In response to the prevailing economic hardship in the country, a prominent senator has urged Bola Tinubu to convene a National Stakeholders Forum. The call for such a forum comes amidst broader discussions on the role of economists in development, with Olaopa emphasizing their significance. Meanwhile, the National Institute of Chartered Analysts (NICA) forecasts an improved economy. The Infosride delves into these key developments, exploring the urgency for a stakeholders forum, the highlighted role of economists, and the optimistic economic forecast. Urgency for a National Stakeholders Forum: 1. Addressing Economic Hardship: – The call for a National Stakeholders Forum underscores…
Amidst growing economic hardship, a senator has called upon Bola Tinubu, a prominent political figure, to convene a National Stakeholders Forum. In a related development, Olaopa highlights the crucial role economists play in development. The Infosride explores the senator’s call for a forum, Olaopa’s insights on economists, and the broader implications for addressing economic challenges and fostering development in Nigeria. Senator’s Call for National Stakeholders Forum: 1. Addressing Economic Hardship: – The senator’s call for a National Stakeholders Forum reflects concerns about the economic challenges facing the country. Economic hardship, including inflation, unemployment, and other socio-economic issues, has prompted the…
Amidst prevailing economic hardship, a senator has called on Bola Tinubu, a prominent political figure, to convene a national stakeholders forum. The senator’s appeal underscores the need for collective dialogue and strategic engagement to address the challenges faced by the nation. The Infosride explores the details of the senator’s call, the potential objectives of a national stakeholders forum, and the broader implications for national discourse and governance. Key Points on the Senator’s Appeal: 1. Amid Economic Hardship: – The senator’s appeal comes against the backdrop of economic hardship faced by the country. Economic challenges, including inflation, rising costs, and unemployment,…
In a significant initiative, the Federal Government of Nigeria has announced plans to revive 46 abandoned housing projects across the country. The move reflects a commitment to addressing the housing deficit, promoting economic development, and revitalizing stalled infrastructure projects. The Infosride explores the details of the government’s plan, the implications for the housing sector, and the potential benefits for both the construction industry and prospective homeowners. Key Points on the Revival of Abandoned Housing Projects: 1. Number of Projects: – The Federal Government’s plan involves the revival of a total of 46 abandoned housing projects nationwide. These projects are likely…
In a tragic incident, terrorists have attacked a church in Burkina Faso, resulting in the death of 15 worshippers. The horrifying act underscores the ongoing security challenges faced by the region and the vulnerability of religious institutions to extremist violence. The Infosride delves into the details of the attack, the implications for security in Burkina Faso, and the broader context of counterterrorism efforts in the region. Key Points on the Attack: 1. Targeting of a Church: – The terrorists targeted a church in Burkina Faso, a country that has witnessed a series of attacks on religious institutions in recent years.…
The Socio-Economic Rights and Accountability Project (SERAP) has initiated legal proceedings against several governors, including Nyesom Wike, over allegations of missing funds allocated to Local Government Areas (LGAs). The legal action underscores SERAP’s commitment to transparency, accountability, and the responsible use of public funds. The Infosride delves into the details of the lawsuit, the specific allegations, and the potential implications for governance and financial accountability.*Key Points on SERAP’s Lawsuit: 1. Allegations of Missing LGA Fund – SERAP’s legal action is based on allegations of missing funds allocated to Local Government Areas. The organization contends that the governors, including Nyesom Wike,…
The All Progressives Congress (APC) expresses deep sorrow and condolences following the tragic incident involving the stampede during the distribution of rice by the Nigeria Customs Service. The unfortunate event led to the loss of lives, including an APC member, highlighting the urgency for a thorough investigation into the circumstances surrounding the stampede. The Infosride extends its heartfelt sympathy to the bereaved families and examines the party’s response, the need for an inquiry, and the broader implications for public safety during relief distribution. Key Points on the APC’s Response: 1. Expression of Grief and Sympathy: – The APC has expressed…
In a significant operation, the National Drug Law Enforcement Agency (NDLEA) has made arrests involving a terminal operator and a dock worker in connection with the seizure of 1,044.29 kilograms of cocaine and colos. The arrests underscore the agency’s commitment to combating drug trafficking, particularly in the maritime sector. The Infosride delves into the details of the operation, the individuals involved, and the broader implications for drug enforcement efforts. Key Points on the NDLEA Operation: 1. Seizure of Cocaine and Colos: – The NDLEA operation resulted in the seizure of a substantial quantity of 1,044.29 kilograms of both cocaine and…
In a significant move toward prioritizing mental health, Sokoto State has introduced a toll-free helpline dedicated to providing support and assistance for individuals facing mental health challenges. The initiative reflects a commitment to addressing the mental well-being of the community and offering a crucial avenue for seeking help. The Infosride delves into the details of Sokoto State’s toll-free helpline, the importance of mental health support, and the potential impact on the well-being of residents. Key Points on Sokoto State’s Toll-Free Helpline: 1. Dedicated to Mental Health Support: – The toll-free helpline introduced by Sokoto State is specifically designed to offer…
The National Association of Nigerian Students (NANS) has called on Bola Tinubu, a prominent political figure, to initiate a thorough investigation into the alleged mismanagement of funds at the Cement Institute. The student body’s appeal underscores the importance of transparency and accountability in educational institutions and seeks to address concerns regarding financial irregularities. The Infosride explores the details of the alleged mismanagement, the call for an investigation, and the potential implications for educational governance. Key Points on NANS’s Appeal: 1. Alleged Mismanagement of Cement Institute Fund: – NANS has raised concerns about the purported mismanagement of funds at the Cement…
The National Bureau of Statistics (NBS) has released a comprehensive list highlighting the states in Nigeria with the highest number of internet users. The data sheds light on the digital landscape in various regions, providing insights into internet penetration and usage patterns across the country. The Infosride presents the full list, detailing the states that top the chart in terms of internet users. Key Findings: 1. Lagos State: – Lagos, as Nigeria’s commercial hub, takes the lead in internet usage, reflecting its status as a major technology and business center. The high concentration of businesses, educational institutions, and a tech-savvy…
In response to emerging threats, Ogun State authorities have issued a stern warning to residents regarding fraudulent online cash palliative schemes. The caution comes amidst reports of scams where individuals are targeted with promises of financial assistance or relief, only to fall victim to deceptive practices. The Infosride delves into the details of the warning, the tactics employed by scammers, and measures recommended to safeguard residents from falling prey to such fraudulent schemes. Key Points on the Warning Against Online Cash Palliative Scams: 1. Emergence of Fraudulent Schemes: – The warning from Ogun State authorities highlights the rise of deceptive…
In a recent operation, the Ogun State Security Network, codenamed So-Safe, has successfully apprehended two suspects in connection with the theft of a 7.5KVA generator. The arrest demonstrates the effectiveness of the security network in responding to incidents of theft and criminal activities within the state. The Infosride explores the details of the operation, the circumstances surrounding the generator theft, and the broader implications for local security measures. Key Points on the Operation: 1. Successful Apprehension: – The Ogun So-Safe Operation’s success in arresting two suspects linked to the theft of a 7.5KVA generator showcases the security network’s commitment to…
In a tragic incident, one person has been reported killed in a clash between youths and a militia group in Rivers State. The Rivers State Police have initiated an investigation into the incident, shedding light on the circumstances surrounding the clash and the potential factors that led to the fatal confrontation. The Infosride explores the details of the clash, the ongoing police probe, and the broader implications for security and community relations in Rivers State. Key Points on the Fatal Clash: Casualty in Youths and Militia Confrontation: – The clash between youths and a militia group in Rivers State has…
In light of prevailing economic hardships, the pan-Yoruba socio-political group, Afenifere, has issued an appeal to Yorubas, urging caution and restraint in participating in protests. This plea comes amidst growing concerns about the economic challenges faced by many Nigerians and the potential for social unrest. The Infosride delves into Afenifere’s appeal, the underlying economic issues, and the broader implications for civic engagement during times of economic difficulty. Key Points on Afenifere’s Appeal: 1. Caution in Protest Participation: – Afenifere’s appeal underscores the need for caution and restraint among Yorubas when considering participation in protests. The call acknowledges the economic hardships…
In a notable development, Yoruba Nation agitator Sunday Adeyemo, popularly known as Sunday Igboho’s spokesperson, Professor Banji Akintoye, has made a bold statement, claiming that he can now return to Nigeria. The assertion comes amid the backdrop of Igboho’s legal challenges and calls for secession, bringing attention to the dynamics surrounding the Yoruba self-determination movement. The Infosride explores Professor Akintoye’s declaration, the legal context, and potential implications for the Yoruba Nation movement. Key Points on Professor Akintoye’s Statement: 1. Confident Return: – Professor Banji Akintoye’s statement expressing confidence in his ability to return to Nigeria suggests a perceived change in…
In a surprising turn of events, Qatar has reversed its earlier decision and confirmed that the investment forum originally planned during Bola Tinubu’s visit will proceed as scheduled. The unexpected U-turn comes amid speculation and initial uncertainty regarding the status of the investment forum during the visit of the prominent Nigerian political figure. The Infosride explores the details of Qatar’s reversal, the significance of the investment forum, and the potential implications for bilateral relations. Key Points on Qatar’s U-Turn and Investment Forum: 1. Reversal of Decision: – Qatar’s decision to proceed with the investment forum, after initially signaling a cancellation…
In a significant development, the Economic and Financial Crimes Commission (EFCC) has announced plans to investigate over 3,000 financial crimes cases while also disclosing the recovery of N60 billion. This underscores the ongoing efforts by the anti-graft agency to combat financial crimes and corruption in Nigeria. The Infosride examines the details of the EFCC’s initiative, the scope of the investigations, and the implications for addressing financial malfeasance in the country. Key Points on EFCC’s Plans and Achievements: 1. Investigation of Over 3,000 Financial Crimes: – The EFCC’s decision to probe over 3,000 financial crimes cases signifies a proactive stance in…