Hello and welcome! In today’s trending news stories;
1. Former House of Representatives member Farouk Lawan has been released after serving a five-year prison sentence. Lawan was convicted in 2021 for accepting a $500,000 bribe from businessman Femi Otedola, Chairman of Zenon Petroleum and Gas Ltd, as Chairman of the House Ad Hoc Committee on Fuel Subsidy Probe. After his release from Kuje Custodial Centre, Lawan expressed deep gratitude to God, his family, and associates, marking the start of a new chapter in his life. His conviction was affirmed by the Supreme Court in 2022, upholding his sentence for accepting the bribe.
2. The Peoples Democratic Party (PDP) has rescheduled its National Executive Committee (NEC) meeting from October 24 to November 28, 2024. The decision was made after consultations at a meeting held by various party organs, including the PDP Governors Forum, to ensure unity ahead of the November 16, Ondo gubernatorial election. The party aims to strengthen its position and unseat the ruling All Progressive Congress (APC) in Ondo. The meeting also addressed internal disunity, urging members to avoid divisive rhetoric. Recent tensions within the party, involving the suspension of key officials, were resolved with a call for peace and a return to the status quo.
3. President Bola Tinubu, during a meeting with the Nigerian Independent Petroleum Company (NIPCO) at the State House in Abuja on Tuesday, revealed that Nigerians now have the option to purchase premium motor spirit (PMS) at N1,000 per litre or opt for compressed natural gas (CNG) at N200 per standard cubic meter. He commended NIPCO’s contributions to the nation’s energy transition, particularly its support for the Presidential Compressed Natural Gas Initiative (PCNGI). Tinubu highlighted the benefits of CNG as a cleaner, more affordable fuel, reducing consumer costs and the nation’s reliance on petrol. He encouraged public-private partnerships and praised NIPCO’s efforts to promote the “Switch to CNG” campaign. NIPCO director Ramesh Kasangra expressed the company’s readiness to invest further in CNG accessibility across the country
4. Nigeria’s Minister of Power, Chief Adebayo Adelabu, convened an emergency meeting with the Nigerian Electricity Regulatory Commission (NERC) and Transmission Company of Nigeria (TCN) to address recent electricity grid disturbances and collapses. This year, eight grid disturbances have caused widespread power outages. Adelabu expressed displeasure, stating that these incidents could undermine recent improvements, including a record 5,527 MW generation. To address the issues, Adelabu formed a forensic investigation committee to investigate potential causes, including sabotage, and recommend ways to strengthen the grid. A technical team was also deployed to assess vulnerabilities. A consumer advocacy group has called on President Bola Tinubu to declare a state of emergency in the power sector due to its failures.
5. The International Monetary Fund (IMF) has lowered its growth forecast for Nigeria’s economy in 2024 to 2.9%, down by 0.2% from earlier projections due to disruptions in agriculture and oil production. This marks no change from the growth recorded in 2023. The IMF attributes the slowdown to factors such as flooding in agriculture and security and maintenance issues affecting oil production. Despite this, the IMF projects Nigeria’s growth to rebound to 3.2% in 2025. Inflation is expected to drop from 32.55% in 2024 to 25% by 2025. The IMF also urged tighter monetary policies to manage inflation and economic stability.
6. Bobrisky, the Nigerian cross-dresser, was detained by the Nigeria Immigration Service (NIS) at the Seme border while attempting to exit the country. He was transferred to the Force Criminal Investigation Department (FCID) in Lagos, where he spent the night in a female cell due to concerns about his controversial lifestyle. Sources suggested that he may have been trying to evade authorities, possibly aware that he was on a security watchlist. The FCID is seeking a remand order for further investigation, and a statement about his detention is expected. Bobrisky’s arrest has drawn attention due to public interest in his activities.
7. Nollywood star Omoni Oboli’s latest film, The Uprising: Wives on Strike, debuted at the Nigerian box office with impressive earnings of N28.2 million in its opening weekend, claiming the top spot. The film includes three days of earnings and a Thursday preview but excludes an additional N10 million in pre-release voucher sales. The Uprising is the third installment in the Wives on Strike franchise and follows a mother’s desperate fight to rescue her kidnapped son. Despite initial skepticism about continuing the franchise, Oboli was confident, describing it as a standalone thriller. The film, co-produced by Oboli and Tomi Adeoye, features an ensemble cast of Nollywood stars like Uche Jombo, Hilda Dokubo, and Segun Arinze. Directed by Oboli and written by Cheta Chukwu, The Uprising marks Oboli’s return to the big screen after a five-year hiatus and celebrates her 10th year as a director. It is expected to make its international debut in late 2024.
