Good morning Nigeria. Welcome to the Naturenex roundup of top newspaper headlines in Nigeria for today, Wednesday, 27th November, 2024
1. Tinubu, Wife, Top Govt Officials To Embark On Three-day Visit To France
President Bola Tinubu, his wife, Senator Oluremi Tinubu, and other top government officials will embark on a state visit to France on Wednesday.
Naturenex reports that the Special Adviser on Information and Strategy to the President, Bayo Onanuga, made this known in a statement on Tuesday.
According to the statement, the visit is in honour of an invitation from President Emmanuel Macron.
The presidential spokesman said the visit would focus on strengthening political, economic, and cultural relations and establishing more partnership opportunities, particularly in agriculture, security, education, health, youth engagement and employment, innovation, and energy transition, which promises significant benefits for Nigeria.
Onanuga added that the French leader would host Tinubu and his wife at a state dinner before departure.
2. Port Harcourt Refinery Begins Crude Oil Processing At 60% Capacity
The Port Harcourt Refinery in Rivers State has commenced crude oil processing, marking a significant milestone in Nigeria’s quest to boost local refining capacity.
The Chief Corporate Communications Officer of the Nigeria National Petroleum Company Limited (NNPCL), Olufemi Soneye, confirmed the development, stating that the refinery is set to operate at 60 percent of its capacity.
Naturenex understands that the Nigerian National Petroleum Company Limited (NNPCL) had set multiple dates for the refinery’s operational start, including promises made in March, August, and September 2024, all of which passed without fulfilment.
3. We Arrested Yahaya Bello Over Alleged Fraud, He Didn’t Turn Himself In – EFCC
The Economic and Financial Crimes Commission (EFCC) has confirmed the arrest of Yahaya Bello, the immediate past governor of Kogi State, in connection with an alleged multibillion naira fraud.
Dele Oyewale, EFCC’s spokesperson, disclosed to the News Agency of Nigeria (NAN) that Bello was apprehended at approximately 12:54 pm on Tuesday and is currently detained at the commission’s Abuja office.
It was earlier reported that Bello, on Tuesday, presented himself at the office of the Economic and Financial Crimes Commission (EFCC) in relation to the charges against him by the anti-graft commission.
It was stated that the former Governor drove himself in a black Hilux and arrived at the EFCC office in the company of his lawyers.
However, according to Oyewale, the former governor, who had been declared wanted, did not voluntarily surrender to the commission but was instead arrested by EFCC operatives in Abuja.
The spokesperson further revealed that Bello is undergoing questioning by EFCC investigators and will be arraigned in court after the necessary processes.
4. CBN Raises MPR To 27.5%
The Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate (MPR) by 250 basis points from 27.25% to 27.50%.
The decision was taken at the 298th meeting of the Monetary Policy Committee (MPC) according to a statement released by the CBN on Tuesday.
The statement disclosed further that the Cash Reserve Ratio (CRR) was retained at 50% for Deposit Money Banks and 16% for Merchant Banks by the MPC.
“The Monetary Policy Committee (MPC) Voted unanimously to raise Monetary Policy Rate (MPR) by 250 basis point from 27.25% to 27.50%; retain Cash Reserve Ratio (CRR) at 50% for Deposit Money Banks and 16% for Merchant Banks. The Committee also retains the Liquidity Ratio (LR) at 30% and Asymmetric Corridor at +500/-100 basis points around the MPR,” the CBN statement shared via its official account on the X platform read.
The MPC meeting which was presided over by the CBN Governor, Olayemi Cardoso, urged monetary and fiscal authorities in the country to deepen collaboration to achieve price stability.
The MPC also noted that the cost of petrol has continued to impact manufacturers’ production costs.
5. Senate Admits Error In Attempt To Remove CCT Chairman, Danladi Umar
The Nigerian Senate has acknowledged a constitutional error in its motion to remove the Chairman of the Code of Conduct Tribunal (CCT), Danladi Umar, over allegations of misconduct.
The motion, sponsored by Senate Leader Senator Michael Bamidele Opeyemi last week, invoked Section 157(1) of the Constitution as the basis for Umar’s removal.
However, it was later discovered that the cited section pertains to the Code of Conduct Bureau (CCB) and other executive agencies, with no relevance to the Senate’s authority to remove the CCT chairman.
The Senate’s move has drawn criticism from legal experts and political observers, who have questioned the procedural oversight in the motion.
In light of the correction, the Senate is expected to review the matter and decide on the appropriate legal framework to address the allegations against Umar.
For now, the incident highlights the importance of constitutional accuracy in legislative proceedings, particularly when addressing matters of national importance.
To correct the mistake, Senator Opeyemi, in a motion on Tuesday sought for activation of paragraph 17(3), PT 1, Fifth Schedule to the Constitution of the Federal Republic of Nigeria 1999 as amended.
This implies that the Senate is correcting its resolution to remove the chairman of the CCT on the grounds of misconduct as debated by senators through resolution S/RES/2/3624, dated Wednesday, 20th November, 2024.
In his remarks, Senate President Godswill Akpabio thanked the senators for their commitment to doing the right thing, and affirmed the CCT chairman’s removal.
6. Tinubu Celebrates As Port Harcourt Refinery Begins Operation, Issues Directive To NNPC Over Warri, Kaduna Refineries
President Bola Tinubu has congratulated the Nigeria National Petroleum Company Limited (NNPCL) on the successful revitalization of the Port Harcourt refinery and commencement of petroleum product loading on November 26, 2024.
Naturenex reported that the Chief Corporate Communications Officer of the Nigeria National Petroleum Company Limited (NNPCL), Olufemi Soneye, confirmed the development, stating that the refinery is set to operate at 60 percent of its capacity.
In a statement through his Special Adviser on Information and Strategy, Bayo Onanuga, Tinubu acknowledges the pivotal role of former President Muhammadu Buhari in initiating the comprehensive rehabilitation of all our refineries and expresses gratitude to the African Export-Import Bank for its confidence in financing this critical project.
Tinubu also commends the leadership of NNPC Limited’s Group Chief Executive Officer, Mele Kyari, for his unwavering dedication and commitment to overcoming challenges and achieving the new milestone.
President Tinubu directed that with the successful revival of the Port Harcourt refinery, NNPC Limited should expedite the scheduled reactivation of both the second Port Harcourt refinery and the Warri and Kaduna refineries.
7. National Assembly Refutes Claims Of Tinubu Presenting 2025 Budget On Wednesday
The National Assembly has dismissed reports suggesting that President Bola Tinubu would present the 2025 Appropriation Bill to a joint session on Wednesday.
In a statement on Tuesday, the Director of Information, Secretary, Research, and Information (SR&I) at the National Assembly, Mr. Bullah Bi-Allah, debunked the claims, describing them as “fake, baseless, and unfounded.”
He emphasized the importance of verifying information before publication, noting that such misinformation could create unnecessary confusion.
The clarification comes amid heightened anticipation for the presentation of the 2025 budget, a key fiscal document expected to outline the government’s priorities for the upcoming year.
Bi-Allah said that the National Assembly is yet to approve the 2024-2026 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper, forwarded to both chambers of the National Assembly by the President.
He clarified that the MTEF approval would come before the official presentation of the 2025 budget.
8. Akpabio Asks For Help As He Hosts Top Chinese Lawmaker In Abuja
Nigeria’s Senate President, Godswill Akpabio, has requested the Chinese government to consider increasing its financial aid to the country and the African continent as a whole.
Akpabio made the appeal on Tuesday when he played host to the Vice Chairman of the Standing Committee of the National People’s Congress (NPC) of China, Zhang Qingwei, who is making a first visit to Africa.
The Senate President called for greater collaboration between Nigeria and China through the strengthening of bilateral relations and support for developmental efforts.
He pointed at a declining trend in Chinese aid commitments to Africa, referencing the 2024 Forum on China-Africa Cooperation (FOCAC) pledge, which is lower than the $60 billion pledged in 2015.
Describing the occasion as one filled with “promise and possibility,” Akpabio underscored the importance of deepening cooperation between Nigeria and China.
Akpabio further called on China to leverage on Nigeria’s vast resources and vibrant culture by investing in the country.
On the parliamentary front, the Senate President proposed the creation of a Nigeria-China Parliamentary Friendship Group to enhance mutual learning and cooperation tailored towards the exchange of parliamentary ideas.
9. ASUP Insists On December 2nd Nationwide Strike
The Academic Staff Union of Polytechnics (ASUP) has maintained its plan to shut down all polytechnics across the country by December 2, citing the Federal Government’s failure to fulfil the demands of its members.
Naturenex reports that the Kaduna chapter chairman of the union, Comrade Abubakar J. Abdullah, reaffirmed the union’s stand on Tuesday, noting that on October 6, 2024, the union’s leadership had issued a 15-day ultimatum to the Federal Government, which detailed critical demands intended to address the systemic issues impeding the advancement of polytechnics.
He further stated that the government has not taken action to resolve these matters.
During a press conference held on Tuesday in Kaduna, Abdullah enumerated several key demands, including the prompt disbursement of the second tranche of the NEEDS Assessment Intervention fund, the immediate implementation of the approved 25/35% salary review for all public polytechnics, and the settlement of outstanding arrears.
Additional demands include the resolution of long-standing CONTISS-15 migration arrears for lower cadres, the payment of pending promotion arrears, the need for increased funding, and the settlement of unpaid allowances.
Comrade Abdullahi emphasized that the sustainability and excellence of the educational system depend significantly on the government’s ability to respond effectively.
He expressed the union’s conviction that a robust education sector is essential for the nation’s future and that it is no longer possible to compromise on these critical matters.
He called upon the Federal Government to initiate constructive discussions with the union and to take decisive actions to address these pressing challenges.
10. I Will Do Whatever It Takes For Tinubu To Release Nnamdi Kanu – Bianca Ojukwu Declares
Nigeria’s Minister of State for Foreign Affairs, Ambassador Bianca Odumegwu-Ojukwu, has said she will do whatever it takes to ensure that President Bola Tinubu releases the embattled leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu.
Naturenex reports that the Minister stated this during the 13th memorial anniversary of the late Dim Chukwuemeka Odumegwu Ojukwu held in Owerri on Tuesday.
Bianca Ojukwu articulated her conviction that President Tinubu recognizes the significance of Kanu’s release.
She contended that releasing Kanu would unveil the criminal elements that have exploited his detention to commit serious offences in the Southeast.
In her address-themed “Unifying the Igbo Race,” Bianca Ojukwu urged an end to the violence afflicting the Southeast, highlighting that the Igbo people are not characterized by inflicting harm upon one another. She underscored the need for united efforts to restore regional safety and order.
Bianca Ojukwu emphasized the importance of President Tinubu granting freedom to Nnamdi Kanu, arguing that his release would aid in uncovering the criminals who are concealing themselves within IPOB to perpetrate violence.
That’s the top Nigerian newspaper headlines for today. Read more Nigerian news on Naturenex. See you again tomorrow.
