President Tinubu has embarked on a private visit to Paris, France, marking a temporary departure from official duties for personal reasons. The private visit underscores the President’s right to engage in personal activities and is not associated with any official state functions. While on this private visit, President Tinubu is expected to engage in personal and leisure activities, taking a brief respite from official responsibilities. Private visits by heads of state are common and allow leaders to attend to personal matters, rejuvenate, and spend time away from the demands of public office. As Infostride News closely monitors developments related to…
Author: Temitope N.
In a strategic move to bolster economic growth, the Federal Government of Nigeria has allocated N200 billion to support Micro, Small, and Medium Enterprises (MSMEs) and the manufacturing sector. This significant financial commitment aims to stimulate economic activities, promote job creation, and enhance the overall resilience of these critical sectors. The allocation of N200 billion underscores the government’s recognition of the pivotal role played by MSMEs and manufacturing in driving economic development. Access to affordable financing is crucial for the growth and sustainability of businesses in these sectors, and the funding injection is expected to provide the necessary financial support…
The Federal Government of Nigeria has announced plans to impose a ban on specific plastic products as part of its commitment to environmental conservation. Additionally, the government has expressed support for Lagos State’s decision to ban Styrofoam and single-use plastics, aligning with global efforts to address plastic pollution and promote sustainable waste management. The impending ban on selected plastic products underscores the government’s recognition of the environmental challenges posed by certain plastic items and the need to implement measures that reduce their negative impact. Plastic pollution has become a significant global concern, and governments worldwide are taking steps to mitigate…
The Petroleum and Natural Gas Senior Staff Association/ of Nigeria (PENGASSAN) has expressed strong opposition to the planned sale of Shell’s assets, citing concerns over the identity of the potential buyers. The rejection by PENGASSAN highlights the importance of transparency and stakeholder engagement in major transactions within the oil and gas sector. The decision to resist the planned sale indicates the union’s apprehension about the potential impact on its members and the broader implications for the Nigerian oil and gas industry. PENGASSAN is seeking clarity on the identity and intentions of the buyers, emphasizing the need for transparency in transactions…
In a significant step towards combating infectious diseases, particularly malaria and HIV/AIDS, the Federal Government of Nigeria has launched the $933 million Global Fund Grant Cycle-7. This substantial financial commitment aims to strengthen healthcare systems, improve prevention and treatment strategies, and contribute to the reduction of the burden of these diseases in the country. The Global Fund Grant Cycle-7 represents a coordinated effort to secure funding for essential programs focused on malaria and HIV/AIDS. The allocation of $933 million underscores the gravity of the health challenges posed by these diseases and the government’s determination to implement comprehensive measures to address…
In a move geared towards skill development and capacity building, the Federal Government has unveiled a comprehensive plan for artisan training in the building sector across the country. This initiative underscores the government’s commitment to fostering a skilled workforce, promoting entrepreneurship, and addressing the growing demand for skilled artisans in the construction industry. The artisan training program is expected to cover various aspects of the building sector, providing hands-on skills and technical knowledge to individuals interested in pursuing careers as artisans. The training is likely to encompass areas such as masonry, carpentry, plumbing, electrical work, and other essential skills required…
Saidu Alkali, in a recent address, has advocated for increased collaboration between the federal government and private stakeholders to establish a comprehensive transport databank. The call for collaboration underscores the importance of data-driven decision-making in the transportation sector and the potential benefits of a centralized information repository. Alkali emphasized the need for a robust transport databank that encompasses various modes of transportation, including road, rail, air, and sea. A collaborative effort between the federal government and private entities can contribute to the collection, analysis, and dissemination of accurate and real-time data, fostering efficiency, safety, and innovation in the transportation sector.…
In a strategic move to advance its drilling projects, Chevron has successfully secured $1.4 billion in financing. The funds will be dedicated to drilling activities around the Escravos region, marking a significant investment in the development of oil and gas resources in Nigeria. The financing agreement underscores Chevron’s commitment to advancing its exploration and production activities, particularly in key regions like Escravos. The funding is expected to support drilling operations, infrastructure development, and other related activities aimed at optimizing the extraction of hydrocarbon resources in the area. The Escravos region is known for its significance in Nigeria’s oil and gas…
The National Information Technology Development Agency (NITDA) in collaboration with Coursera has officially opened applications for Cohort 3 of the Information Technology (IT) training program for Nigerians. This initiative aims to empower individuals with valuable IT skills, fostering digital literacy and enhancing the country’s workforce in alignment with global technology trends. The partnership between NITDA and Coursera provides an opportunity for Nigerians to access high-quality online courses covering a wide range of IT-related topics. The training program is designed to accommodate participants at various skill levels, from beginners to advanced learners, ensuring inclusivity and the ability to cater to diverse…
In a significant legal development, a court has granted bail to the former Governor of Anambra State, Willie Obiano, following his arraignment over allegations of N4 billion fraud. The bail decision comes amid heightened attention to corruption cases involving public officials and highlights the legal process’s role in ensuring fair and just proceedings. Former Governor Obiano, who served two terms as the governor of Anambra State, was arraigned on charges related to financial impropriety. The allegations involve the mismanagement of public funds, with the prosecution claiming the misappropriation of N4 billion during his tenure. The court’s decision to grant bail…
In a significant milestone for public health, Liberia has received a shipment of 112,000 doses of a malaria vaccine, becoming the fourth African nation to introduce this crucial intervention. Here are the key details surrounding this development: 1. Introduction of Malaria Vaccine: Liberia’s reception of 112,000 doses of the malaria vaccine marks a proactive step in the fight against malaria, a prevalent and life-threatening disease in many parts of Africa. The vaccine, known as RTS,S/AS01 or Mosquirix, has undergone extensive testing and is considered a groundbreaking tool in malaria prevention. 2. Fourth African Nation to Implement the Vaccine: Liberia joins…
The African Development Bank (AfDB) has greenlit an $80 million funding package for the Ekiti Knowledge Zone Project, signaling a significant boost for innovation, education, and economic development in the state. Here’s a closer look at key aspects of this noteworthy initiative: 1. Project Overview: The Ekiti Knowledge Zone Project is a strategic undertaking aimed at creating a hub for knowledge-based industries, innovation, and research. The project envisions the establishment of a zone that fosters collaboration between academia, industry, and government to drive technological advancement and economic growth. 2. Funding from AfDB: The approval of $80 million in funding from…
The Abuja real estate market has long been a barometer of economic activity and investment trends. Recent indicators suggest a potential resurgence in the market after a period of relative stagnation. Here are four signs pointing towards a comeback: 1. Increased Transaction Volume: Observations reveal a notable uptick in real estate transactions in Abuja. The volume of property sales and leases has shown signs of improvement, indicating renewed interest from both buyers and tenants. This surge in activity may be attributed to a growing confidence in the economic landscape and investment opportunities within the city. 2. Infrastructure Development: Ongoing and…
In a move to align with regulatory requirements and enhance user identity verification, OPay, a prominent financial technology platform, has declared its intention to block all accounts that are not linked with the National Identification Number (NIN) by March 1. This decision reflects the ongoing efforts within the financial sector to strengthen Know Your Customer (KYC) protocols and promote a more secure and compliant environment. OPay’s decision to mandate the linking of accounts with NIN is in accordance with regulatory guidelines set by government authorities. The National Identification Number serves as a unique identifier for individuals, and its integration into…
In a bid to modernize and enhance the efficiency of tax collection, a Presidential Committee has proposed the introduction of innovative methods, including the use of Unstructured Supplementary Service Data (USSD), to facilitate the payment of taxes. This forward-looking initiative aims to leverage technology to simplify the tax payment process, making it more accessible and convenient for taxpayers. The proposal suggests the implementation of USSD as one of the means through which individuals and businesses can fulfill their tax obligations. USSD, a mobile communication technology, offers a user-friendly and widely accessible platform that can potentially streamline tax payments and improve…
Canada recently implemented a policy change imposing a 2-year cap on the duration of student permits for international students. This adjustment in the permit duration has implications for Nigerian students aspiring to study in Canada. Let’s delve into the potential impacts and considerations for Nigerian students. 1. Study Duration and Program Choice: The 2-year cap on student permits underscores the importance of strategic program selection. Nigerian students may need to carefully choose programs that align with their academic and career goals within the stipulated permit duration. Consideration of program length and post-graduation opportunities becomes crucial in maximizing the benefits of…
In a strategic move to bolster its capital base and support expansion initiatives, Wema Bank recently conducted a Rights Issue, providing existing shareholders with the opportunity to purchase additional shares. The success of the Rights Issue, coupled with a subsequent rally in the bank’s share price, reflects a positive response from investors and underscores the institution’s ability to attract and retain investor confidence. **Rights Issue Overview:** Wema Bank’s Rights Issue involved the issuance of additional shares to existing shareholders at a predetermined price. This approach allows the bank to raise capital internally without resorting to external debt or diluting existing…
In a significant policy shift, Germany has announced a reduction in the residency requirement for individuals seeking citizenship. Residents can now apply for German citizenship after living in the country for five years, down from the previous requirement of eight years. This change is expected to facilitate a more inclusive approach to naturalization and reflects Germany’s commitment to welcoming and integrating long-term residents. The decision to shorten the residency requirement is likely to have far-reaching implications for individuals who have made Germany their home. It not only streamlines the path to citizenship but also recognizes the contributions of long-term residents…
In a bid to regulate traditional medicine practices and safeguard public health, the Lagos State government has announced plans to impose sanctions on unregistered traditional medical practitioners. This move underscores the government’s commitment to ensuring that individuals practicing traditional medicine adhere to established standards and regulations. The regulation of traditional medicine practitioners is crucial for public safety and the overall well-being of residents. Unregistered practitioners may lack the necessary qualifications and oversight, posing potential risks to patients and undermining the credibility of traditional medicine as a legitimate healthcare option. The sanctions are expected to include measures such as fines, suspension…
In a significant effort to curb illegal refining activities, the Nigerian National Petroleum Corporation Limited (NNPC Limited) has reported the destruction of over 5,686 illegal refineries since the beginning of 2021. This initiative underscores the corporation’s commitment to addressing environmental and security concerns associated with unauthorized refining operations in the country. Mele Kyari, the Group Managing Director of NNPC Limited, revealed this information, emphasizing the corporation’s proactive stance against illegal refining activities. The destruction of these illegal refineries is part of ongoing efforts to combat oil theft, environmental degradation, and associated criminal activities that often accompany unauthorized refining operations. Illegal…