ALL THE RELEVANT NEWS: TUESDAY

06 Jun ALL THE RELEVANT NEWS: TUESDAY

🌎The Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) have suspended the planned strike to commence on Wednesday over the removal of the petrol subsidy. The labour centres and the federal government are to reconvene on June 19 to further the negotiation. The resolution was contained in a notice signed by the Speaker of the House of Representatives, Femi Gbajabiamila, the President of the Nigerian Labour Congress, Joe Ajaero, and the President of the Trade Union Congress, Festus Osifo.

🌎Oil prices tumbled more than $1 a barrel on Tuesday, after a strong rally in the previous session as worries about the global economic growth outweighed Saudi Arabia’s pledge to deepen output cuts. Brent crude futures were down $1.33, or 1.73%, to $75.38 a barrel by 0923 GMT.
* Nigeria’s official OPEC production quota has been cut by 20.7 percent to 1.38 million b/d following agreement reached on Sunday by the Organization of Petroleum Exporting Countries (OPEC) and its allies to cut global oil production

🌎President Bola Tinubu has called on the nation’s security agencies to work together to achieve success in the war against terrorism and security issues confronting the country. Speaking after a tour of the new office of the national security adviser and facilities at the National Counter Terrorism Centre (NCTC), in Abuja on Monday, Tinubu said there would not be prosperity if security challenges were not addressed.

🌎The Joint Health Sector Union (JOHESU) has suspended its indefinite strike for 21 days. The suspension of the industrial action was announced after a meeting between the leadership of the union and President Bola Tinubu, on Monday.

🌎The senate has approved a request from President Bola Tinubu to appoint 20 special advisers. The president did not list the names of the 20 special advisers.

🌎The Debt Management Office (DMO) has announced an offering for two Federal Government of Nigeria (FGN) savings bonds for subscription at N1,000 per unit. In a statement on Monday, DMO said the offers, which opened on June 3, 2023, will close by June 9, 2023.

🌎Nigeria’s total external merchandise trade increased by about N324 billion to N12.04 trillion in the first quarter of the year (Q1 2023), compared to N11.04 trillion in the preceding quarter, the National Bureau of Statistics (NBS) stated yesterday.

🌎BUA Cement Plc on Monday said that it has secured a $500 million facility from the International Finance Corporation (IFC) and partners to develop energy-efficient cement production capacity and strengthen its equipment and logistics capabilities in northern Nigeria. The company said this investment, marked the largest-ever investment by IFC, will create up to 12,000 direct and indirect jobs and contribute to economic and infrastructural development within Nigeria and the greater Sahel region.

🌎The Chief of Staff (CoS) to former President, Muhammadu Buhari, Professor Ibrahim Gambari, has handed over to his successor, Femi Gbajabiamila.

🌎The Federal High Court sitting in Abuja, on Monday, discharged and acquitted the former Head of Service of the Federation, Mr Stephen Oronsaye, of the N2 billion money laundering, charge the Economic and Financial Crimes Commission, EFCC, preferred against him. The agency said it will appeal the judgement.

🌎The Chairman of United Bank for Africa Plc, Tony Elumelu, has emphasised the need for a vibrant private sector to develop Africa into a robust economy. He said this could be achieved through Africapitalism, an economic philosophy developed by him and predicated on the belief that Africa’s private sector can and must play a leading role in the continent’s development.

🌎For the sixth consecutive year, the Dangote brand has been adjudged as the Most Admired African Brand among top 100 brands in the continent.

🌎Security Stories: The Christian Association of Nigeria has said the remaining 16 abducted worshippers of Bege Baptists Church, Madala, along Buruku in Chikun Local Government Area of Kaduna State, have regained their freedom after spending almost a month in kidnappers’ den.
* Again, terrorists have attacked communities in Birnin-Gwari Local Government Area of Kaduna State where they killed 2 and abducted about 30 locals.
* Mr Justice Azunda, a protocol officer to the immediate past Chief of Staff, Rivers State Government House, Chief Emeka Woke, was on Sunday kidnapped.
* Suspected gunmen have reportedly killed Opeyemi Ajewole, a Professor of Social and Environmental Forestry at the University of Ibadan, Ibadan in Oyo State.

🌎Russia-Ukraine War: Ukraine’s military has accused Russian forces of blowing up a major dam in the Moscow-seized region of Kherson in the south of the country. At least eight different settlements in the region are already flooded, a local military official said. Dramatic drone video shows a deluge of water gushing from a breach in the dam.
* Russia said on Tuesday it had thwarted another major Ukrainian offensive in Donetsk, inflicting heavy losses, while Ukraine hailed progress in fighting in the east.
* Yevgeny Prigozhin, the leader of Russia’s Wagner Group, said Ukrainian forces had retaken part of the settlement of Berkhivka, north of Bakhmut. Speaking in an audio message, Prigozhin, who has lambasted Russia’s military leadership, said the loss was a “disgrace”.
* The anti-Kremlin Russian Volunteer Corps and the Freedom of Russia Legion released a video saying they had taken Russian prisoners of war during their incursions. The one-minute and 26-second clip showed what appeared to be about a dozen Russian soldiers, with two lying on hospital beds. Gladkov said he was ready for talks to retrieve “our guys”.