TOP 10 NEWS MAKING THE ROUNDS IN NIGERIA TODAY WEDNESDAY 

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TOP 10 NEWS MAKING THE ROUNDS IN NIGERIA TODAY WEDNESDAY 

1. Council Of State Passes Vote Of Confidence On Tinubu As Details Of Meeting Emerge

The National Council of State has passed a vote of confidence on President Bola Tinubu, his leadership and the policies of his administration.

The council, during its meeting held on Tuesday at the council chambers of the presidential villa in Abuja, endorsed the efforts of President Tinubu targeted at addressing the challenges in Nigeria and stabilizing the economy.

The attendees at the meeting, passed a unanimous vote on the President and his activities as the leader of Nigeria.

As earlier reported by Naija News, former Presidents Muhammadu Buhari and Goodluck Jonathan attended the meeting physically, while former Heads of State, Yakubu Gowon and Abdulsalami Abubakar participated virtually.

The National Council of State before passing a vote of confidence on President Tinubu and his cabinet, listened to presentations by six ministers and the National Security Adviser, Mallam Nuhu Ribadu.

Discussions at the meeting were detailed by the Minister of Solid Minerals, Dele Alake, during a press briefing after the Council’s meeting.

The Minister stated that the council members called for the protection of democracy in Nigeria and praised Nigerians for resisting the attempt by some persons to cause an undemocratic change of government during the recent #EndBadGovernance protest.

Alake said the Council unanimously agreed that any change in government should occur through democratic elections.

He added that the council appealed to Nigerians to remain calm and peaceful while ensuring no person or group is allowed to take over governance through force.

2. Tinubu Okays 300% Salary Increase For Judicial Officers

President Bola Tinubu has signed a bill into law that provides a 300 percent salary increase for judicial officers at both federal and state levels in the country.

Tinubu consented to the Judicial Office Holders Salaries and Allowances Bill into law on Tuesday.

This development was confirmed in a statement issued in Abuja today by Senator Basheer Lado, the Special Adviser to the President on Senate Matters.

It could be recalled that in June, the National Assembly approved the bill that provides a whooping salary increase for judicial officers by 300%.

This decision followed the review and acceptance of an executive bill submitted by the President, which aimed to establish enhanced salaries, allowances, and additional benefits for judicial officers and staff.

3. Each Senator Earns ₦1 Million Monthly – Revenue Commission Gives Salary, Allowances Breakdown

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has clarified that each of the 109 senators occupying legislative seats in the red chamber earns ₦1,063,860 salary and allowances per month.

The commission made the clarification “in view of the recent statement made by Mr. Shehu Sani, a former Senator of the Federal Republic who was reported to have disclosed to the public that each Senator collects a monthly running cost of ₦13.5 M in addition to the monthly ₦750, 000.00 prescribed by the Commission”.

Recall that the former President, Olusegun Obasanjo, had last week condemned the federal lawmakers for determining their salaries and allowances.

Obasanjo described the development as ‘immoral, stressing that the RMAFC should be saddled with this responsibility.

However, RMAFC chair M. B. Shehu, in a statement on Tuesday, gave the breakdown of the salary and allowances of each senator as: Basic Salary – ₦168,866:70; Motor Vehicle Fuelling and Maintenance Allowance – ₦126,650:00; Personal Assistant – ₦42,216:66; Domestic Staff -₦126,650:00; Entertainment – ₦50,660:00; Utilities – ₦50,660:00; Newspapers/Periodicals – ₦25,330:00; Wardrobe – ₦42,216,66:00; House Maintenance – ₦8,443.33:00 and Constituency Allowance – ₦422,166:66; respectively.

Shehu said some allowances are regular, while others are non-regular.

Shehu said RMAFC does not have the constitutional powers to enforce compliance with the proper implementation of lawmakers’ remuneration packages.

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He added that aside from the president, vice president, senate president, and speaker of the House of Representatives, all public and legislative officers are no longer provided with housing, as was the case in the past.

4. CBN Re-introduces Publication Of Key Economic Reports

The Central Bank of Nigeria (CBN) has reintroduced the publication of several key economic reports.

The CBN Governor, Yemi Cardoso said the decision of the apex bank to commence the publication of key economic reports is to provide international and local investors with accurate and timely information on economic indices of the country.

In a statement on Tuesday, signed by the Acting Director of Corporate Communications, Sidi Ali Hakama, CBN said the report would include the Purchasing Managers’ Index (PMI), Business Expectation Survey (BES), Inflation Expectation report (IER) and other macroeconomic indicators.

5. Tinubu, Cabinet Members To Leave For Equatorial Guinea On Official Visit

President Bola Tinubu will depart Abuja for Equatorial Guinea on a three-day official visit on Wednesday to honour President Teodoro Obiang Nguema Mbasogo’s invitation.

The Special Adviser to the President on Media and Publicity, Ajuri Ngelale, made this known in a statement on Tuesday.

Ngelale said President Tinubu will be accompanied on the trip by the Minister of Foreign Affairs, Ambassador Yusuf Tuggar, and other members of his cabinet.

According to the statement, Tinubu and President Teodoro will have a meeting and agreements, particularly on oil and gas and security, will be signed.

6. Why NNPC Reduced Stake In Dangote Refinery From 20% To 7.2% – Spokesperson

The Nigerian National Petroleum Company (NNPC) Limited has revealed the real reason behind its decision to reduce its stake in the Dangote refinery from 20% to 7.2%.

The NNPC had, in September 2021, acquired a 20 percent interest in Dangote refinery for $2.76 billion. However, on July 14, 2024, the owner of the refinery and Africa’s richest man, Aliko Dangote, disclosed during a press conference that the NNPCL no longer owns a 20% stake in Dangote Refinery.

Speaking about the development, the spokesperson of the NNPC, Femi Soneye, said the decision of the national oil company to reduce its stake in Dangote Refinery is to invest in compressed natural gas (CNG).

He made the disclosure on Monday during a Brekete Family programme.

Soneye added that the NNPCL has no issue with Dangote refinery and that the NNPC was not collaborating with the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to sabotage the refinery.

He also called on Nigerians to switch to the use of CNG as it is a cheaper alternative.

7. Nigeria Telecom Sector In ‘ICU’ – MTN Warns

The Chief Executive Officer of MTN Nigeria, Karl Toriola, has raised alarms about the dire state of the telecommunications sector in the country, describing it as being in an “intensive care unit” (ICU).

He emphasized the urgent need for intervention to prevent the industry’s collapse.

While addressing the hybrid telecom investment forum virtually on Tuesday in Lagos, he stressed the critical need to prevent the sector from collapsing.

Toriola highlighted the significant challenges facing telecom operators, warning that without addressing the fundamental issues, the sector could face a severe downturn.

The Chairman of the Association of Licensed Telecom Operators of Nigeria (ALTON), Gbenga Adebayo, echoed Toriola’s concerns during the same event.

He pointed out that the telecom industry has become a victim of its own success, with the government increasingly viewing it as a primary revenue source.

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He further expressed concern about the sustainability of the sector, given the ongoing financial pressures. Adebayo revealed that banks owe telecom operators over ₦200 billion for services rendered, a debt that has yet to be resolved.

8. Court Extends Order Restricting Abuja #EndBadGovernance Protesters To National Stadium

In a ruling on Tuesday, the High Court of the Federal Capital Territory, under the leadership of Justice Sylvanus Oriji, prolonged the injunction limiting participants in the #EndBadGovernance protest against the Federal Government to the Moshood Abiola National Stadium in Abuja.

Justice Oriji granted the extension following a motion presented by Dr. Ogwu James Onoja (SAN), representing the Minister of the Federal Capital Territory (FCT), Nyesom Wike.

During the proceedings, none of the 11 defendants were present in court, nor were they represented by legal counsel. However, the FCT minister’s attorney highlighted a statement from one Damilare Adenola, who warned that the nationwide protests might extend beyond the initially planned 10 days.

The counsel contended that, given the absence of the defendants and the uncertainty surrounding their future actions, it was prudent to extend the order to maintain peace within the FCT.

In a concise ruling, the judge approved the request and confirmed that the order issued on July 31, 2024, remains effective.

The judge then scheduled a hearing for the motion on notice for August 22, 2024.

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9. FG, Govs Reach Three-Month Agreement On LG Allocations

The Federal Government and state governors have agreed to a three-month moratorium on the implementation of Local Government financial autonomy, following concerns about its potential impact on salary payments and operational viability.

According to Punch, this development means that Local Governments across the country may have to wait until October before the law mandating direct payments into their respective accounts is fully implemented.

This decision comes after the Supreme Court’s landmark judgment on July 11, 2024, affirming the financial autonomy of Nigeria’s 774 Local Government Areas (LGAs).

The Supreme Court ruling, which declared that governors could no longer control funds meant for the councils, directed the Accountant-General of the Federation to disburse Local Government allocations directly to their accounts.

The court also ruled that the non-remittance of funds by the 36 states was unconstitutional.

However, some state governors have expressed concerns about the immediate implementation of the ruling.

The Nigeria Governors’ Forum, led by its chairman and Kwara State Governor, AbdulRahman AbdulRazaq, acknowledged the Supreme Court’s decision but highlighted the financial challenges that state governments face in supporting Local Governments.

The three-month moratorium on the implementation of Local Government autonomy is expected to provide time for all stakeholders to address these concerns and ensure a smooth transition to the new system.

10. Electricity: FG Announces New Target On Power Generation

The Federal Government has announced that it aims to achieve a power generation target of at least 6,000 megawatts by the end of the year 2025.

The Minister of Power, Bayo Adelabu, confirmed this during an assessment visit to the Calabar Power Plant of the Niger Delta Power Holding Company (NDPHC) on Tuesday, August 13, 2024.

During this event, the minister highlighted that the administration of President Bola Tinubu inherited a power output of less than 3,000 megawatts from existing infrastructure last year.

However, there has been a consistent increase in power generation, ensuring a more reliable supply.

He emphasized that a significant portion of this power generation is sourced from the Calabar power plant operated by the Niger Delta Power Holding Company.

Adelabu noted that this facility, constructed approximately 15 years ago with a capacity of 625 megawatts, had been largely underutilized.

The Minister further explained that the plant is equipped with five turbines, each capable of producing over 125 megawatts, with three of them currently operating at optimal levels to supply power to the Southeast and South-South regions of the country.