Headline

Like Ngige, Petroleum Minister Sylva Withdraws from Presidential Race

Published

4 years ago

May 16, 2022

Eric

Minister of State for Petroleum, Chief Timipre Sylva, has withdrawn from the presidential race of the All Progressives Congress, and returned to work.

A correspondent of the News Agency of Nigeria who monitored development at the ministry in Abuja on Monday reports that Sylva withdrew having considered the enormous work at hand at the ministry.

NAN reports that the Northern Solidarity Group had on May 9, presented the APC’s Expression of Interest and Nomination form to the minister to enable him to contest the party’s 2023 presidential primaries.

An official at the ministry who chose to remain anonymous said Sylva withdrew from the race to support President Muhammadu Buhari in his quest to achieve a robust oil sector.

“He promised to consult the leader of the country and his political leaders the day he was presented with the form.

“He believes that concentrating on his work will attract more investments for the oil and gas sector.

“He has consulted and he believes that the challenges at the ministry and oil and gas sector are enough issues for him to begin to deal with now than going to pursue presidential ambition at the expense of the nation.

“The oil and gas sector is the mainstay of the economy and it is not like any other ministry somebody can just come in and take over.

“It requires some measures of time for the person to understand what is happening in the system.

“For the interest of the industry and the nation, he has decided to wave that personal ambition to see what he can contribute in the remaining part of President Buhari’s administration.

“The implementation of the Petroleum Industry Act 2021 is very critical and he wants to continue to make his own contribution to the day-to-day running of the country and support Mr President for robust achievements,” the official said.

Meanwhile, Mr Horatius Egua, Senior Adviser, Media and Communications to the minister, when contacted, confirmed to NAN that the minister was back to work.

(NAN)

Headline

Defence Gulps Lion Share As Tinubu Presents N58.47trn 2026 Budget to NASS

Published

13 hours ago

December 19, 2025

Eric

President Bola Tinubu has presented a budget of N58.47 trillion for the 2026 fiscal year to a joint session of the National Assembly, with capital recurrent (non‑debt) expenditure standing at N15.25 trillion.

Tinubu presented the budget on Friday, pegging the capital expenditure at N26.08 trillion and putting the crude oil benchmark at US$64.85 per barrel.

He said the expected total revenue is N34.33 trillion, projected total expenditure: N58.18 trillion, including N15.52 trillion for debt servicing. The budget is N23.85 trillion, representing 4.28% of GDP.

The budget was anchored on a crude oil production of 1.84 million barrels per day, and an exchange rate of N1,400 to the US Dollar for the 2026 fiscal year.

In terms of sectoral allocation, defence and security took the lion’s share with N 5.41 trillion, followed by infrastructure at N3.56 trillion.

Headline

Mike Adenuga, Emmanuel Macron Hold High-Powered Meeting in Paris

Published

2 days ago

December 18, 2025

Eric

Accomplished billionaire businessman and Commander of the French Légion d’Honneur, Dr. Mike Adenuga Jr., GCON, CdrLH, has held a private meeting with the French President, Emmanuel Macron.

The two powerful citizens of the world held the meeting on Wednesday at the historic Élysée Palace in Paris.

The high-level engagement underscores the longstanding relationship between Dr. Adenuga and the French Republic, as well as his continued relevance in global business and diplomatic circles.

A respected industrialist and philanthropist, Adenuga has been widely acknowledged for his contributions to economic development, telecommunications, energy, and humanitarian causes across Africa and beyond.

The meeting adds to Dr. Adenuga’s growing profile as a bridge between African enterprise and international leadership.

Headline

Free at Last: Burkina Faso Releases 11 Nigerian Soldiers, Aircraft

Published

2 days ago

December 18, 2025

Eric

Burkina Faso has released Nigerian soldiers who were detained after their aircraft made a forced landing in the Sahelian country earlier this month, Nigerian officials said.

The release followed a diplomatic intervention by President Bola Tinubu, who dispatched a high-level delegation led by the Minister of Foreign Affairs, Yusuf Tuggar, to meet Burkina Faso’s Military Leader, Ibrahim Traoré, on Wednesday.

In a statement, Alkasim Abdulkadir, Tuggar’s spokesperson, said both sides resolved the matter amicably and secured the release of the Nigerian Air Force pilots and crew.

The soldiers had been held for nearly two weeks after the Confederation of Sahel States (AES) described the aircraft’s landing as an “unfriendly act” carried out in defiance of international law.

The Nigerian Air Force, however, said the crew encountered a technical issue that required a precautionary landing in Bobo-Dioulasso, the nearest available airfield. It said the landing complied with standard safety procedures and international aviation protocols.