Anthony Joshua, Francis Ngannou set to clash in heavyweight boxing match
Former World heavy weight champion and Nigeran-Britidh boxer, Anthony Joshua is set to clash with Francis Ngannou in a heavyweight boxing match happening in Saudi Arabia tonight. The power-packed boxing fight between the two fighters will see them earn massive prize money and fight purses. The fight is organized by the head of Saudi’s General Entertainment Authority (GEA), Turki Alalshikh, who is driving efforts to make Saudi the new home of boxing. It was gathered that Joshua is set to bank a whopping $50 million [£39 million] from this fight, not including pay-per-view sales. While Ngannou is reportedly set to receive $20 million [£15.6 million], which is twice the amount he received for his highly praised debut fight against Tyson Fury last October. This is Ngannou’s second time boxing in the ring and he is sure to provide a stiff test for Joshua, who is fighting for the fourth time in under a year. The involvement of Saudi Arabia in boxing’s biggest fights has given rise to Joshua’s calibre of fighters benefitting from huge fight purses. The money involved is a testament to the growing commercialization of boxing, although the focus will, of course, remain on the in-ring action. The fight will take place at Kingdom Arena in the Saudi Arabian capital of Riyadh. The undercard is expected to start at 11:00 a.m. ET / 4:00 p.m. GMT, and the ring walk for the main fight is anticipated to take place at 6:00 p.m. ET / 11:00 p.m. GMT.
Presidency Reacts To Reports Of Tinubu Advising Buhari To Print More Money
The Presidency has refuted claims suggesting that President Bola Tinubu advised the Muhammadu Buhari administration to print N22.7 trillion. This denial comes in response to statements made by the Minister of Finance and Coordinating Minister of Economy, Wale Edun, during a session with the Senate Committee on Finance. Edun attributed Nigeria’s current inflationary pressures to massive currency printing during Buhari’s tenure, emphasizing the need for transparency and accountability in economic management. He disclosed plans for a comprehensive audit of the reported N22.7 trillion printed without productivity. In reaction, Paul Ibe, spokesman for former Vice President Atiku Abubakar, criticized Edun’s remarks, alleging Tinubu’s encouragement of such actions in 2020. However, presidential spokesman Bayo Onanuga rebutted these claims, asserting that Tinubu never advised the government to print money. Onanuga clarified that Tinubu’s statement in 2020 did not advocate for Naira printing, as erroneously reported, and provided a clarification in Thisday a day after the false report emerged.
Gunmen Attack 2 Banks In Kogi
Gunmen suspected to be robbers have attacked two commercial banks in Anyigba, Dekina Local Government Area of Kogi State. The robbers raided the banks and carted away millions of naira and other valuables. Eyewitnesses said that the robbers were shooting indiscriminately shootings during the attack. The robbery operation was said to have started around 5 pm. It was gathered that operatives of the Nigerian Security and Civil Defence Corps engaged them in exchange of gunfire. The state police command is yet to react to the incident.
Finance Minister Blames Buhari Administration’s Reckless Money Printing for Inflation Surge
In a startling revelation, the Minister of Finance, Mr. Wale Edun has pointed fingers at the Buhari administration for Nigeria’s current inflation crisis, attributing it to the irresponsible printing of money. During a session with the Senate Committee on Finance, Edun disclosed that between 2015 and 2023, the Central Bank of Nigeria printed a staggering N22.7 trillion for the Federal Government through Ways and Means overdrafts. Edun emphasized that this massive money printing spree was not accompanied by corresponding increases in productivity, leading to the inflationary pressures the country is grappling with today. He cited a lack of restraint in spending the N30 trillion amassed through Ways and Means under the previous administration as a significant factor contributing to Nigeria’s food and security challenges. Acknowledging the Senate’s resolve to investigate the utilization of these funds, Edun assured the committee of the government’s commitment to addressing the underlying causes of inflation and fiscal imbalance. He outlined measures aimed at bolstering revenue generation without resorting to unsustainable practices, such as excessive money printing or undue borrowing. Edun commended the Senate for its support in tackling fiscal challenges and pledged to address loopholes in import duty waivers to enhance the country’s fiscal resilience. Despite the current economic hurdles, he expressed optimism about the government’s ability to implement effective policies that would stabilize inflation rates and foster sustainable economic growth.
Nigerian Civil Defence Officer Murdered By Gunmen
An officer of the Nigeria Security and Civil Defence Corps (NSCDC) in Obangede, Okehi Local Government Area of Kogi State has been killed by unknown gunmen. The NSCDC officer who lost his life was part of the security detail assigned to protect the abducted Chinese road engineer. At the time of reporting, the identities of both the abducted individual and the deceased officer could not be confirmed. When contacted for confirmation and updates on the incident, the state police spokesperson, William Ovye Aya, stated that he would provide further information later. This incident comes amidst a similar occurrence on February 3, where approximately 14 passengers of God Is Good (GIG) Motors and ABC Transport were abducted in Kogi while en route to Abuja. The incident took place in Inyele Eteke, Olamaboro LGA. The abducted passengers, who were reportedly traveling from the southeast region, were later released after a few days in captivity. Reports indicate that the gunmen intercepted the vehicles and forcibly took the passengers captive, demanding a ransom of N15 million from each individual for their release.
Why FG may Revoke DisCos Licences – Power Minister
The federal government has threatened tough sanctions, including licence revocation, against Distribution companies over epileptic power supply and ‘wilful non-performance’. It also said Electricity Distribution Companies (DisCos) are to be held accountable henceforth for poor power supply in the country. Power Minister, Adebayo Adelabu issued the threat in a statement, describing as “disheartening” the decline in power supply despite the concerted efforts to improve the situation. He noted that his Ministry has been exerting pressure on the GenCos to enhance their performance, resulting in a recent increase in generation to over 4000MW. “Moving forward, I’m committed to holding all distribution companies accountable for their performance. “Wilful non-performance will not be tolerated, and severe consequences, including licence revocation, may be imposed,” the minister said in a statement. Expressing concern over erratic electricity supply, Adelabu has summoned the Abuja Electricity Distribution Company (AEDC), the Ibadan Electricity Distribution Company (IBEDC) and the Transmission Company of Nigeria (TCN) for an emergency meeting on Tuesday. The supply of electricity has dipped across the country in the last three months, due to many reasons, including lack of adequate gas supply, grid breakdown, low supply from Generating Companies (GenCos), the inability of DisCos to wheel supply from GenCos and sabotage. The minister also expressed concern over the poor performance of the Nigerian Electricity Supply Industry (NESI). Adelabu, who tweeted on his X handle, reiterated the reasons for summoning the AEDC and IBEDC chief executives and the TCN Managing Director. He gave the reason as an attempt to find a plausible solution to the power supply in their zones. “Despite this progress”, the minister said, “certain distribution companies are failing to adequately distribute the power supplied by TCN, while vandalism of power infrastructure exacerbates the problem in regions such as Abuja, Benin, Port Harcourt, and Ibadan. “The purpose of this meeting is to discuss the worsening power supply in their respective regions and to collectively find lasting solutions.” The minister threatened to henceforth hold the DisCos accountable for their performance. He said: “Willful non-performance will not be tolerated, and severe consequences, including license revocation, may be imposed. “Additionally, I have instructed TCN to prioritise repair works on damaged transmission towers and power lines to improve supply in affected regions.” Adelabu recalled that during recent supervisory visits to power-generating plants, he witnessed firsthand the challenges faced by the sector. He spoke of plans to settle outstanding debts to power generation and gas supply companies, which will alleviate the financial strain and contribute to improved generation levels nationwide. Pleading with consumers for understanding, Adelabu said he and his team had been making frantic efforts to tackle the challenges. “I urge electricity consumers to remain patient as we work tirelessly to address these issues and provide better service to all Nigerians,” he said. It was gathered that the payment of $120 million out of the $1.3 trillion owed to the gas suppliers has unsettled the GenCos. The GenCos are said to be meeting to press for the payment of their outstanding debts. A source from the GenCos, who was privy to the meeting, said: “Since the Federal Government has made $120 million payment to the gas suppliers as part of their debt, we are also meeting to ask the same government to settle us, the GenCos.” Adelabu’s Special Adviser on Strategic Communications and Media Relations, Bolaji Tunji, confirmed the scheduled meeting with the TCN and DisCos.
Minimum Wage: Labour May demand N500,000 instead of #1m Earlier Proposed
With the public hearing on the new minimum wage, which will be held simultaneously in all six geopolitical zones of the country, it is expected to receive inputs from organised Labour, state governors, ministers, civil society groups, and the organised private sector on a new minimum wage reflective of the current economic realities and the workers’ aspirations. However, a top official of the NLC, who confided in newsmen on Thursday said based on proposals submitted by state chapters to the congress’ headquarters, the organised Labour might push for N500,000 at today’s meeting. The President of the Nigeria Labour Congress, Joe Ajaero, had recently stated that if the ongoing inflation continued, organised labour might push for a new minimum wage of up to N1m for Nigerian workers. President Bola Tinubu through his deputy, Kashim Shettima, on January 30, 2024, inaugurated a 37-member panel on the new minimum wage at the Council Chamber of the State House in Abuja, with its membership cutting across the federal and state governments, the private sector, and labour. The panel, as learnt, is to recommend a new national minimum wage for the country on or before April 1 following the expiration of the current N30,000 minimum wage as provided by the law. However, the President of the NLC, Ajaero, stated recently during an interview on Arise TV that if the ongoing inflation continued unabated, organised labour might push for a new minimum wage of up to N1m for Nigerian workers. According to Ajaero, the demand from organised labour would be influenced by the cost of living which has been increasing since President Bola Tinubu assumed office, notably due to the removal of the fuel subsidy and other policies. He said, “This N1m may be relevant if the value of the naira continues to depreciate; if the inflation continues unchecked because the demand of labour is equally dependent on what is happening in the society. “You will remember that by the time we were contemplating N200,000 (as minimum wage), the exchange rate was about N800/N900 (to a dollar). As we talk today, the exchange rate is about N1,400 or even more. “Those are the issues that determine the demand and it is equally affecting the cost of living. And we have always said that our demand will be based on the cost of living index. You will agree with me today that even a bag of rice is going for about N60,000/N70,000 or more. “A bag of locally produced corn is about N56,000 or more. Foodstuff is getting out of reach, now are we going to get a minimum wage that will not be enough for transportation even for one week?” Speaking in an interview with newsmen on Wednesday, a top official of the NLC said organised labour would insist on any amount slightly above N500,000 as minimum wage based on the analysis of proposals got from state chapters. The official, who spoke in confidence because he was not authorised to speak to the media on the negotiation, explained that the cost-of-living analysis carried out in states was N900,000. “In reality, what they gave us from the states when we deflate inconsistencies is over N500,000, as the cost of living of an average family of six to meet their basic needs, for an average family to survive. “But we know that when NLC deflates it taking into consideration some of the things we think are padded, it will come to around slightly over N500,000,” he said.
Resident doctors in UCH Begin strike over alleged assault
Following an alleged assault on a resident doctor by relatives of a patient, resident doctors under the auspices of Association of Resident Doctors, ARD, at the University College Hospital, UCH, Ibadan in Oyo State have commenced a three-day strike. ARD President, Dr. John Oladapo told newsmen on Thursday that the doctors are demanding a public apology from the people who assaulted their member, inflicting injuries on him on Sunday. He called on the hospital to improve its security architecture to avoid future occurrences in the hospital. “On Sunday, one of our members was the target of a deliberate, premeditated, planned rage and furious assault by a patient’s relation. “The doctor was seeing a known Sickle Cell patient in a painful crisis at the Emergency Department when the two men accosted him in the consulting room and started beating him up. “The mother of the patient being seen who tried to intervene was also beaten up in this assault. In the doctor’s attempt to escape, the men chased him down and beat him up. “The security officers of the hospital intervened and rescued our member, but not before he sustained injuries as well as mental health and esteem”.
Another attack, Boko Haram, sets IDP Camp, Many Houses On Fire
Suspected Boko Haram insurgents have razed down at least 25 newly constructed buildings meant for returnees in Dikwa Local Government Area of Borno State. Amid the heat of insurgency, Dikwa residents fled their homes and took cover as Internally Displaced Persons (IDPs). However, days after abducting IDPs who went into the forest to fetch firewood, insurgents stormed a remote village in Gajibo, shooting sporadically and burning more than 25 newly built houses. According to Daily Trust, Modu Kundiri who was on his to Maiduguri from Gomboru, they were asked by the troops to wait for about 3 hours at Logomani village. “The soldiers informed us that we had to wait for about 3 hours from 11:am -2 pm before we were allowed to leave Logomani. “I saw and counted more than 25 newly constructed houses at Gajibo village in Dkiwa LGA was on fire,” Modu said. A resident of Dikwa town, Sheriff Lawan, confirmed the news to our correspondent via phone. He added that they equally planted many improvise explosive devices (IEDs) in the ongoing construction site to truncate the rebuilding and resettlement processes of the state government. “The soldiers told us that the insurgents planted many IEDs at the construction site and they discovered some bombs already.”Sherrif said. Gajibo town is a some of 110 kilometers away from Maiduguri, the state capital.
UAE Has Not Lifted Visa Ban On Nigeria – Presidency
The presidency has refuted claims of the United Arab Emirates lifting the visa restriction on Nigerian travellers. The ban was imposed in October 2022 along with restrictions on citizens from about 20 African nations. Among the affected countries are Nigeria, Uganda, Ghana, and others. Reports surfaced on Tuesday that discussions between President Bola Tinubu and his UAE counterpart, Sheikh Mohamed bin Zayed Al Nahyan, regarding diplomatic issues like flight allocations and travel restrictions, prompted the suspension of the ban. However, Bayo Onanuga, senior Special Adviser to President Tinubu on information, clarified that the ban remains in place, stating that the circulating document is unauthorized by both Nigerian and UAE governments. “UAE has not resumed visa issuance to Nigerians. The document in circulation is not authorized either by the Nigerian government or the UAE”, he said.