Hello and welcome! In today’s news stories;
1. Edo State Deputy Governor, Philip Shaibu, is determined not to be intimidated in the upcoming governorship election on September 21. Returning his PDP nomination form in Abuja, Shaibu alleged some party elders have been influenced but expressed gratitude for strong support from youths and certain elders. He emphasized his organic support, rejected godfatherism, and committed to the people’s mandate. Shaibu sees the election as a challenge to prevent the state from being controlled by businessmen and affirms his vision for Edo State’s progress, focusing on political power resides with the people. If granted the PDP ticket, he anticipates victory and plans to make Edo a reference point in Nigeria. However, the PDP Deputy National Organising Secretary urged aspirants, including Shaibu, to prioritize peace in their pursuits.
2. Atiku Abubakar, the PDP Presidential Candidate, criticized the Federal Government’s silence on the $3.3 billion NNPC crude repayment loan, secured through Project Gazelle Funding Limited in the Bahamas. Atiku questions the lack of official details, citing concerns about the loan terms and the choice of the Bahamas. He demands transparency, seeking answers to key questions about the loan’s conditions, the parties involved, and the government’s borrowing plan. Atiku emphasizes the substantial gap between the reported $3.3 billion loan and the estimated $12 billion repayment, urging the government to address these discrepancies for the public’s clarity.
3. The FCTA has handed over control of Abuja’s Area 1 Motor Park to transport unions to improve its management. Deborah Osho from the DRTS noted the park’s re-occupation by illegal activities after a recent cleanup, emphasizing the need for organized use by inviting unions to bring in their vehicles. The initiative aims to reduce illegal parking on streets and enhance security. Abubakar Sadiq, Deputy National President of the Road Transport Employers Association of Nigeria, assured adherence to government guidelines for park management, emphasizing commitment to maintaining standards and security.
4. The Lagos State Government is serious about stopping the use of styrofoam, and they will start enforcing this rule in three weeks. The Commissioner, Tokunbo Wahab, is saying that styrofoam is harmful to people’s health and the environment, so it’s better to prioritize our well-being over making money. They have been talking about this for three years, and now they are taking action. They are giving businesses three weeks to use up their existing styrofoam supplies. This decision is because styrofoam doesn’t break down easily and causes a lot of problems for the environment. The local council chairman also supports this decision and asks everyone to follow the rules.
5. The Naira experienced a significant depreciation against the US dollar in the foreign exchange market, according to data from FMDQ. On Thursday, the Naira weakened to N900.96 per dollar, reflecting an N18.72 loss or a 2.12% decrease from N882.24 per dollar on Wednesday. The parallel forex market also saw a record low of N1,410 per dollar, a 0.37% drop from N1,365 per dollar the previous day. Despite a 103.52% increase in forex turnover to $115.19 million on Thursday, the Naira’s depreciation continued. In the past two days, the currency has lost N22.35. The Central Bank of Nigeria governor, Olayemi Cardoso, addressed plans to work towards real price discovery in the foreign exchange market during the Nigeria Economic Group outlook for 2024 on Wednesday.
6. Tottenham has become London’s richest club, surpassing Chelsea in Deloitte’s Football Money League with annual revenues of £549.2 million, ranking eighth globally. The boost comes from increased matchday revenue and hosting diverse events like NFL matches and concerts. Tottenham’s stadium income exceeds £105 million per season, and leveraging the venue and broadcast income from the UEFA Champions League contributed to their rise. Chelsea’s stadium redevelopment is noted as a factor. The Money League rankings don’t consider operating costs and exclude player sales, with Tottenham’s revenue increase not including the £100 million from Harry Kane’s transfer to Bayern Munich.
7. Afrobeat artist Kizz Daniel has collaborated with Davido on the remix of his single “Twe Twe,” released on December 12, 2023, to celebrate his 10th anniversary in the music industry. The song has topped official Nigeria charts, radio charts, and YouTube streams. This collaboration follows their last joint effort in 2018 on “One Ticket.” The remix promises a thrilling musical experience, blending the unique styles and dynamic energy of both artists. A music video directed by TG Omori is expected to be released soon, according to a source close to the artist.
