ALL THE RELEVANT NEWS: TUESDAY

26 Sep ALL THE RELEVANT NEWS: TUESDAY

🌎The Nigerian National Petroleum Company (NNPC) Limited, Nigerian Content Development and Management Board (NCDMB) and International
Oil companies (IOCs) operating in the country have signed a Memorandum of Understanding (MoU) to reduce the cycle of contracts within the sector. The MoU will contribute to Ease of Doing Business, as well as reduce cost and drive efficiency in Nigeria’s Oil and Gas industry.

🌎Oil prices fell on Tuesday as a stronger U.S. dollar compounded concerns that demand for fuel will be held back by major central banks holding interest rates higher for longer. Brent crude futures were down $1.16, or 1.24%, at $92.13 a barrel at 0844 GMT
*The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says the country’s total annual upstream capital expenditure decreased from $27 billion in 2014 to less than $6 billion in 2022. The Chief Executive of NUPRC, Gbenga Komolafe, revealed this on the sideline of the World Petroleum Congress (WPC) in Calgary, Canada. Komolafe, represented by the Executive Commissioner, Mr Kelechi Ofoegbu, the figure represented a 74 percent decrease in its capital expenditure (CAPEX).

🌎Director of Press and Information of the Supreme Court, Dr. Festus Akande, on Monday, said the fire incident that happened on Monday morning at the Court’s building did not affect the presidential election petition tribunal.

🌎The Senate will on Tuesday screen former Chairman of the Board of Citi Bank Nigeria, Olayemi Michael Cardoso for the position of the Governor of the Central Bank of Nigeria (CBN). The Senate will also screen four nominees for the positions of CBN Deputy Governors, who will join forces with Cardoso to steer the affairs of the apex bank in the next five years

🌎President Bola Tinubu has restated his administration’s commitment to promoting ease of trade for Small and Medium Enterprises (SMEs) across Africa. Tinubu gave the assurance during the Africa International Trade Exhibition (AITE) 2023’s Business, Trade and Investment Summit on the sideline of the 78th edition of the United Nations General Assembly (UNGA).

🌎President Bola Ahmed Tinubu-led Federal Government on Monday said it would soon make public the audit report of the Central Bank of Nigeria (CBN) and how it affected the economy of the country.

🌎The Minister of Niger Delta Development, Abubakar Momoh, has met with the former leader of the defunct Movement for the Emancipation of the Niger Delta, High Chief Government Oweizide Ekpemupolo aka Tompolo, seeking sustained collaboration in upholding peace in the region, facilitating optimal oil production and minimizing oil theft.

🌎The Minister of Interior, Olubunmi Tunji-Ojo, has promised that the Federal Government would invest in the harmonisation of the country’s data through the National Identity Management Commission. The Minister noted that the era of multiple ID registrations would soon be over in the country.

🌎The Federal Government has said the celebration of Nigeria’s 63rd Independence Anniversary, will be held in a low-key manner, in line with the present economic realities. Secretary to the Government of the Federation (SGF), George Akume, disclosed this at a world press conference, which was held on Monday, at the National Press Centre, Radio House, Abuja.

🌎The Federal Government has declared Wednesday, September 27 as a public holiday in commemoration of the Eid-ul-Maulid celebration, the birth of the Holy Prophet Muhammad (Peace be upon him.)

🌎Security Stories: The Joint Task Force (JTF) of Operation Hadarin Daji in Zamfara State, has again rescued seven more female students of the Federal University of Gusau (FUGUS), making the total number of rescued students to 13.
*Troops of Joint Taskforce, Northwest Operation Hadarin Daji, in the early hours of Monday rescued 15 kidnapped victims in Zamfara state. The troops acted on an intelligence report about the abduction of an unspecified number of innocent persons from Kayan Boggo village under Bukkuyum Local Government Area of the North-West state.
*Suspected gunmen abducted a businessman, identified as Sikiru Bosere, and one of his workers, Mr Philemon, around 10:30 pm, in Jebba, Moro Local Government Area of Kwara State, on Sunday night.

🌎Russia-Ukraine War: Russian drones hit a Danube River port in Odesa overnight, injuring two truck drivers and damaging warehouses, a Ukrainian official said Tuesday. It comes a day after Russian strikes killed at least two people and damaged port infrastructure in Odesa. Moscow has repeatedly targeted the region’s ports following the collapse of the Black Sea grain deal in July.
*Ukrainian President Volodymyr Zelensky on Monday hailed the arrival of the first batch of US Abrams tanks in Ukraine. The armored capability is expected to add a powerful ground component to Kyiv’s forces.
*Ukraine claimed it killed the commander of Russia’s Black Sea Fleet in an attack last week in Sevastopol, one of the largest cities on the annexed Crimean peninsula. CNN has reached out to the Russian Ministry of Defense for comment.
*Ukrainian drones targeted Russia’s Bryansk and Kursk border regions and occupied Crimea, Russian officials said Monday. No casualties were reported in either locality, officials said. It comes after Kyiv launched one of its most ambitious attacks yet on the peninsula Friday, targeting Russia’s Black Sea headquarters.