ALL THE RELEVANT NEWS: WEDNESDAY

ALL THE RELEVANT NEWS: WEDNESDAY

🌍Stories from the Villa: President Buhari on Tuesday in Abuja said corruption in education sector has continued undermine government’s investments, while critics downplay funding by focusing only on budgetary allocations, and urged a more comprehensive re-evaluation of expenditure.
* Represented by Industry and Trade Minister, Niyi Adebayo, he flagged off the 17th edition of the Abuja International Trade fair, organised by the Abuja Chambers of Commerce and Industry, yesterday.
* VP Osinbajo said on Tuesday that due the current security challenges in the country, it has become imperative for Nigeria to utilise indigenous national defence capabilities. He spoke at the 32nd Convocation Ceremony and the Graduation of 69 Regular Course Cadets and Postgraduate students of the Nigerian Defence Academy.

🌍Oil Monitor: Prices dipped on Wednesday, after gains in recent days as OPEC+ producers looked set to agree deep output target cuts later in the day despite a tight market. Brent crude was down 23 cents, or 0.3%, at $91.57 a barrel at 0839 GMT
* NNPCL has declared a profit after tax (PAT) of N674.1billion for the year ended 2021. Group CEO Kyari said, “I’m happy to announce that the Board of NNPC has approved 2021 audited financial statements and NNPC has progressed to a new performance level, from N287bn profit in 2020 to N674bn profit after tax in 2021, climbing higher by 134.8% YoY profit growth”
* Kyari has also told the Senate’s joint committees on Petroleum (Upstream and Downstream) and Gas that it has collaborated with relevant security agencies to clamp down on saboteurs

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🌍CBN governor Godwin Emefiele has noted that financial technology (fintech) companies are disrupting the banking sector, but the bank continues to provide guidance.

🌍The Federal government through the Minister of Labour has presented certificates of registration to two more academic unions of universities in a move described as an attempt to weaken ASUU on their prolonged strike. They are the Nigerian Association of Medical and Dental Academics (NAMDA), and the Congress of Nigerian University Academics (CONUA).

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🌍Access Bank Plc has entered into a binding agreement with Montepio Holding SGPS S.A to acquire 51 percent majority shareholding in Finibanco Angola S.A., a leading Angolan bank.

🌍Elon Musk, the billionaire founder of Tesla Inc., has offered to purchase Twitter for the initial offer price of $44 billion.

🌍INEC has reiterated its readiness to rid the forthcoming 2023 general election of vote-buying through its existing partnership with the security and anti-graft agencies in the country.

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🌍The Police Service Commission (PSC) has dismissed seven senior police officers over what it described as gross misconduct.

🌍Security Stories: Gunmen have killed an Islamic cleric, Alfa Tunde Aribidesi, abducted two of his children in Ilorin, Kwara State and asked for N10m ransom.

🌍Russia-Ukraine War: Russian President Vladimir Putin has signed into law measures that claim to annex four Ukrainian regions into the Russian Federation, in violation of international law.
* Putin’s move comes as Kyiv’s forces press forward with territorial gains in the south and east, including in the regions Russia claims it is annexing. Ukraine has continued its eastern counteroffensive and pushed into the Luhansk region, pro-Russian officials said, after recapturing a key Donetsk city. Forces are also breaking through Moscow’s defenses in the southern Kherson region, with more areas liberated “every day,” a Ukrainian official said Tuesday.
* Meanwhile, the US is considering how to respond to a range of potential scenarios amid growing concerns Putin will escalate the war and use tactical nuclear weapons, according to sources.
* Ukrainian officials said at least one person was killed in Russian attacks with Iranian-supplied “kamikaze drones” against Kyiv and Odesa on Wednesday
* The US’s decision to send more military aid to Ukraine “increases the danger of a direct military clash” between Russia and the West, Moscow has warned.

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