The Nigerian Government has declared Monday May 29 a public holiday to commemorate the inauguration of President-elect Bola Tinubu as the 16th democratically elected president of Nigeria. Tinubu will succeed current President Muhammadu Buhari after swearing in on Monday, May 29. Minister of Interior, Ogbeni Rauf Aregbesola, who announced the public holiday, felicitated with Nigerians on the momentous occasion. The Minister commended all Nigerians for their strident efforts at achieving an unbroken civilian rule and successful change of governments since 1999. He urged Nigerians to support and cooperate with the coming administration, stating that the unbounded energy of the people is the nation’s greatest strength.

Muslim community under the aegis of Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN), South East Zone, have held a special Juma’at prayer session for a peaceful transition and successful inauguration of the President-elect, Bola Ahmed Tinubu, on May 29, 2023. “Today, Friday the 26th day of May 2023 is significant to us in Miyetti Allah Cattle Breeders’ Association of Nigeria, MACBAN, South East Zone. We of MACBAN, South East Zone, chose to rededicate our place of business and Nigeria in general to Allah in today’s Jummah Prayer. “As we pray for the incoming government at the centre and the states, we equally pray for those exiting office. The prayer session was held amidst tied security.

The International Monetary Fund has urged the incoming government of President-elect, Sen. Bola Tinubu to take steps to increase the country’s revenue base. According to Aisen, to resolve the debt issues of Nigeria you need to concentrate on revenue and expenditure. NAN reports that Nigeria’s total public debt stock as of Dec.31, 2022, stands at N46.25 trillion (103.11 billion dollars). The comparative debt stock for Dec. 31, 2021, is N39.59 trillion (95.77 billion dollars)The DMO said in terms of composition, total domestic debt stock stood at N27.55 trillion (61.42 billion dollars), while total external debt stock was N18.70 trillion (41.69 billion dollars). “The issuance of promissory notes by the federal government to settle some liabilities also contributed to growth in the debt stock,’’ the DMO said.

India, with an estimated population of over 1.425 billion people, has become the most populated country in the world, Guinness World Records confirmed. “Surprisingly, India has overtaken China despite being almost THREE TIMES smaller. “India has an area of 3.287 million sq km (1.269 m sq mi), while China covers a whopping 9.597 m sq km (4 m sq mi),” statement by GWR reveals. It, however, stated that as the largest country in Asia and fourth largest in the world, China is only slightly smaller than the United States. In terms of total area, India is the seventh largest country in the world.

The Lagos State Government recently commissioned the 72-unit Ndubuisi Kanu Housing Estate located in Gbagada, along Oworonshoki Expressway, as part of its efforts to reduce the housing deficit in the state. However, the government has completed 19 housing estates in different parts of the state, including the Ndubuisi Kanu Estate, named after a former military governor of the state. Meanwhile, the Commissioner for Housing, Moruf Akinderu-Fatai, said that the Lagos State Government has been consistently strengthening its housing agenda in the last four years. To achieve this goal, the government has completed and delivered various schemes across Lagos, including Lateef Jakande Gardens in Igando, Courtland Villas, Igbokushu, Lekki apartments, Lekki Lagos, State Affordable Public housing Scheme In Idale Badagry, Bayview Estate, Lekki, Sunnyville Apartments Nob Oluwa, Ogba, Phoenix Apartment, Ilupeju, LagosHOMS Lekki Phase 1, Babatunde Raji Fashola Estate in Iponri, Prince Abiodun Ogunleye Estate, B.O Benson Estate, Sangotedo Housing Estate, Eti-Osa among others. With this new estate and other completed projects, the Lagos State Government shows a commitment to bringing affordable homes to Lagosians who need them.

ShareIn 2018, the Guardian Nigeria reported that more than 190,000 qualified people were turned away from seven public universities in Nigeria. In a first-of-its-kind move, the Nigerian Universities Commission (NUC) has given Miva Open University, owned by uLesson, permission to open Nigeria’s first fully online university. MIVA Open University can now give full Bachelor’s degree programs through Online Distance e-Learning (ODeL) mode; it has this license. The opening of Miva Open University is a good step toward solving the problem of Nigerians not being able to get into college. The university will give students who can’t go to traditional universities a much-needed option.

Energy drink, ‘Fearless, from the stable of Rite Foods Limited demonstrated its unwavering commitment to the entertainment industry recently, with its sponsorship of the premiere Fast and Furious X movie at the Silverbird Cinemas in Lagos. The movie premiere, which was held on Wednesday, May 17, was well attended by celebrities. Amidst the rationale for the sponsorship, Sangowawa further stated that Fearless Energy intends to utilise the sponsorship amongst other marketing activities, to re-affirm its brand equity-building strategies as a market leader. Sangowawa further stated that the sponsorship is also a sampling ground for consumers to be able to taste the unique quality of the Fearless brand while enjoying their favourites movies with family and friends. Commenting on the support by the leading energy drink, Nollywood Movie Producer, Andrian Abisogun, applauded the brand for adding colour to the event and for the immense support to the entertainment sector, as well as the energy it provides to viewers at the cinema.

The Federal government had said it would continue to award contracts until the last minute of the administration of the president, Major General Muhammadu Buhari(retd). Reacting to the criticism against the unending award of contracts and external borrowing of the administration, the minister declared that the outgoing government has the right to award contracts till the last hour. Fashola said, “Buhari can award contracts till the last minute. Some states are borrowing money outside the country, still, they will pay it back. He noted that the project was being financed by Nigeria National Petroleum Limited through the Tax Credit Policy of the Federal Government.

The sustainability reporting landscape needs to change, in general, globally, but also closer to home, within our operating contexts on the continent. Understandably, the proliferation of frameworks, guidelines and standards for sustainability reporting – there are currently over 600 different industry sustainability reporting standards globally – has made the process complex and daunting, whilst confirming the importance of sustainability reporting to organizations who seek to answer the question of: how can we better report our activities? The race to harmonize the various standards also led to the creation of the International Sustainability Standards Board (ISSB) at COP26 in Glasgow in 2021 by the International Financial Reporting Standards (IFRS) Foundation. Let’s return home a bit and talk about sustainability reporting in Nigeria …I would say that some organizations – most notably in financial services, energy and agro-allied industries – have demonstrated a commitment to sustainability. This goes back to leadership, organizational targets and policy documents that show a commitment to effective sustainability reporting.

The President, Major General Muhammadu Buhari (retd), has approved the appointment of Olushola Odusanya as the Director General of the National Centre for Technology Management, Ile Ife, Osun State. The President’s approval was conveyed to Odusanya through a letter signed by the Minister of State for Science, Technology and Innovation, Henry Ikoh. He was also the pioneer leader of the Environmental Biotechnology Group at the Biotechnology Center of SHESTCO. The PUNCH reports that Odusanya obtained his PhD in Food Science and Technology in 1999 from the Department of Food Science and Technology, University of Saints in Malaysia. “ He has also been a visiting Associate Professor of Materials Science and Engineering at the African University of Science and Technology Abuja.

This is a 146.1 per cent increase from the 27,137 dependants who migrated to the UK from March 2021 to March 2022. In the year ending March 2023, around 73 per cent of visas issued to dependants of students were issued to two nationalities (Indians and Nigerians),” it said. Foreign tertiary institutions and respective countries have continued to benefit from the migration of Nigerian students to oversea institutions. For instance, in 2021, Nigerian students and their dependants in the United Kingdom contributed an estimated £1.9bn to the economy of the UK according to a report by SBM intelligence. Earlier, the UK announced its intention to ban foreign students from coming to the country with dependants from January 2024.

The President-elect, Bola Tinubu, and Vice President-elect, Kashim Shettima would be honoured with the Grand Commander of the Order of the Federal Republic and Grand Commander of Order of the Niger respectively. The investiture is ongoing at the State House Conference Center in Abuja. The event is part of the activities lined up for the May 29 inauguration ceremony. After the investiture, there would be the handover of transition documents to Tinubu and Shettima. Details later…

The Enugu State Police Command on Wednesday said it had arrested four suspected fraudsters who specialise in swapping Automated Teller Machine cards for defrauding a 63-year-old man of N495,000. The statement read, “The suspects were arrested, while escaping to their criminal hideout in Emene, Enugu, after they fraudulently stole the ATM card and Personal Identification Number of an unsuspecting 63-year-old male victim, while pretending to assist him to withdraw money from a commercial Bank ATM along the Ogui Road, Enugu. “Immediately after, the suspects used the card and PIN to withdraw the total of N495,000 from the victim’s account.”The PPRO said the suspects had confessed to the crime during interrogation, saying they have carried out many other criminal acts of ATM card swapping and fraud within the Enugu metropolis. He noted that four banks’ ATM cards, including that of the victim, were recovered from them. Ndukwe said the state Commissioner of Police, Ahmed Ammani, commended the operatives for busting and bringing the criminal syndicate to book.

Three staffers of the embassy and four police officers in the convoy were reportedly killed in the reprehensible and absolutely shameful attack. Two employees of the embassy were also kidnapped during the attack, but they were eventually rescued unhurt following a joint operation by security operatives. The Anambra State Police Command confirmed the arrest of two suspects in connection with the attack. It is benumbing that this crew of workers going about their lawful duties were killed by non-state actors in Anambra State. The attack underlines the very dangerous dimension that insecurity has taken in the country, with nearly every place considered unsafe.

The Monetary Policy Committee of the Central Bank of Nigeria, on Wednesday, unanimously voted to increase its monetary policy interest rates to 18.5 per cent. The PUNCH reports in March that the MPC of the bank voted to increase the benchmark interest rate by 50 basis points to 18 per cent. The CBN Governor, Godwin Emefiele, disclosed this while reading the communiqué of the third MPC meeting of the year on Wednesday. Justifying the rising inflation rate, the MPC blamed the high energy cost and challenges around the supply chain, among others, which are beyond the reach of the CBN. The apex bank had increased the MPR from 11.5 per cent earlier last year to 18 per cent in March this year across six consecutive rate hikes.