News
‘People in NNPC don’t want subsidy scam to end’- Emir Sanusi
The 16th Emir of Kano, Muhammadu Sanusi II, has said that Alhaji Aliko Dangote should not be blamed for buying dollars at lower rates at the time he was building his refinery because that was the actual rate the apex bank was selling to everybody at that time.
Sanusi, who commented on the issue through SOP Chat Group, initially said: “I honestly do not think it is a good idea for me to make comments on these issues, but some comments surprise me, and I just have to say something.”
The emir then went on to remark: “Aliko Dangote did not fix the price at which the CBN sold dollars. Everyone who got dollars from the CBN got dollars at the same rate if they bought on the same day. So we cannot blame him for buying dollars at a rate the CBN itself decided to sell to its customers.
“So the question for me is this. Let us forget the man Dangote. If the Central Bank were to prioritize a single enterprise for forex allocation, how many enterprises can we think of that are worthier than a refinery like this one?
“Consider the drain on our forex from importing petroleum products; the tens of billions of dollars of forex spent abroad; the huge losses due to theft in the name of subsidy.
“By the way, how much forex did Dangote buy from the CBN at this subsidized rate? How much forex did NNPC take from the federation account in the same year in the name of running and turning around its dead refineries? What are we benchmarking against?
News
Umahi Frowns At Slow Pace Of Suleja-Minna Road Construction
The Minister of Works, David Umahi, has expressed sadness and disappointment over the slow pace and poor quality of the Suleja-Minna federal road construction, which has been ongoing for 14 years.
Despite reports of 84% completion, Umahi stated that the work executed does not match the reported progress.
Umahi’s comments came during a Town Hall Meeting and stakeholders’ engagement on the construction of the 1,068-kilometer Sokoto-Badagri superhighway in Minna, Niger State.
The minister emphasized the need for improved quality and speed in the project’s execution and added that all contractors handling federal government projects in Niger State will be invited for assessment.
The Minister had passed through the Suleja-Minna Road to attend the meeting and express disappointment over the snail pace of work.
In addition to addressing the Suleja-Minna Road project, Umahi announced that the Federal Government is redesigning the Kano-Abuja Expressway. The new design will feature the use of concrete, which is expected to increase the road’s lifespan to between 50 to 100 years.
Governor Umaru Bago praised the value addition captured along the corridor of the road, particularly the irrigation potentials that the proposed 68 dams will avail farmers in the State. He also declared support for the choice of concrete in road construction.
Other stakeholders at the event raised concerns over funding and completion time of the projects.
News
Bitcoin hits $90,000 for the first time as Trump backs crypto
Bitcoin reached a record high above $90,000 on Wednesday, as the world’s largest cryptocurrency gained from President-elect Donald Trump’s pledge to ease regulation on digital assets.
Bitcoin surged to a peak of $91,000 before settling at $90,670.
The volatile asset has soared since Trump’s US presidential election victory last week, repeatedly setting new records.
Trump had pledged during his campaign to make the United States the “Bitcoin and cryptocurrency capital of the world.”
His previous term included corporate tax cuts that boosted market liquidity, encouraging cryptocurrency investment.
In September, Trump announced he and his sons, along with entrepreneurs, would launch a digital currency platform called World Liberty Financial. However, its sales launch earlier this month was lacklustre, with only a fraction of tokens sold.
Cryptocurrencies have drawn global attention, marked by extreme volatility and the collapse of major industry players, including the FTX exchange.
In the lead-up to the election, Trump reportedly became the first former president to use Bitcoin in a transaction, buying burgers at a New York restaurant that hailed it as a “historic transaction.”
AFP
News
NYSC announces date for ‘2024 Batch C’ registration
The management of the National Youth Service Corps, NYSC, on Wednesday, announced the date for the online registration of prospective 2024 batch C stream I corps members.
The management said the exercise will commence on Thursday, 14 November, 2024.
This was made known in a post on the official X handle of the NYSC on Wednesday.
“Online Registration for 2024 Batch ‘C’ SC Stream I commences 14th November 2024,” the statement read.
The orientation course will commence later on a date to be announced by the NYSC management.
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