ALL THE RELEVANT NEWS: SATURDAY

ALL THE RELEVANT NEWS: SATURDAY

🌍Distributable revenue to the three tiers of government in August slumped by N280.948 billion to N673.137 billion; as against N954.085 shared in July. This came as NNPC Limited said it deducted N525.71 billion as a shortfall for the importation of petrol or subsidy, in August 2022.

🌍Oil prices plunged about 5% to an eight-month low on Friday as the U.S. dollar hit its strongest level in more than two decades and on fears that rising interest rates will tip major economies into recession, cutting demand for oil. Brent futures fell $4.31, or 4.8%, to settle at $86.15 a barrel, down about 6% for the week.

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🌍VP Osinbajo has emphasized that more private sector participation in Nigeria’s transition to green energy is crucial as it would help the country to achieve its objectives in the implementation of its Energy Transition Plan.

🌍Ethiopian Airlines has emerged a core investor in the Nigerian National Carrier, Nigeria Air, after raising the expected $300 million that will launch the national carrier to its full size of 30 aircraft and international operations within the next two years.

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🌍The Federal Government has arrested 210 suspects and confiscation of 20.2 million liters of AGO, 461.8 thousand liters of PMS, 843.6 thousand liters of DPK, and 383.5 thousand barrels of crude oil but it was silent on trial of suspects.

🌍The National Pension Commission has commenced approval for workers to use 25 per cent of their Retirement Savings Accounts as mortgage.

🌍Israeli car manufacturer Mimshak has concluded plans to commence car production from its car assembly plants in Akwa Ibom State using locally sourced and few imported raw materials.(8)ASUU has appealed the ruling of an Industrial Court of Nigeria in Abuja directing it to immediately suspend the ongoing industrial action.

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🌍2023 Politics: The All Progressives Congress has released a list of 422 members of its Presidential Campaign Council (PCC). President Buhari as Chairman of the Campaign council, with Bola Ahmed Tinubu, as Deputy. The list does not include the names of Vice-President Yemi Osinbajo; former speaker of the House of Representatives, Yakubu Dogara; former secretary to the government of the federation, Babachir Lawal, and Chukwuemeka Nwajiuba, former minister of state for education.

🌍Security Stories: Troops of operation Whirl Punch have bombed a suspected terrorists’ hideout at Gaude in Shiroro LGA of Niger state, killing several terrorists behind the several attacks on Shiroro communities.
* An Air Force raid on terrorists operating in communities between the Zurmi and Birnin Magaji areas in Zamfara State, and Jibia in Katsina State, on Thursday evening, killed a kingpin of terror gang, Dogo Rabe and 45 other terrorists.
* Gunmen have kidnapped three policemen in Ogun State Command in broad daylight.

🌍Russia-Ukraine War: Russian-backed officials in Luhansk, Donetsk, Kherson and Zaporizhzhia are holding self-styled referendums on joining Russia. The four regions involved are either partially or completely under Russian occupation
* Meanwhile Russia is implementing plans to call up reservists to fight in Ukraine after suffering setbacks there
* Queues are still building up along Russia’s borders as men attempt to leave the country to avoid a military call-up

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