Resource-backed loans, real threat to Nigeria’s future — Opinion — The Guardian Nigeria News – Nigeria and World News
The report lately that NNPC plans to borrow another $2 billion crude oil-backed loan is worrisome for its dire implication on the future of the country’s economy. Already, Nigeria is suffering the repercussions of oil-backed credit deals and other future contracts the NNPCL has signed. For instance, operators of local private refineries have complained of a shortage of feedstock, a challenge that has forced them into sourcing crude from other countries. Ghana, Guinea, South Sudan, the Republic of Congo, Angola and Zimbabwe are among African countries that have explored RBLs. For Nigeria, it would have made some difference if NNPCL, which has been struggling to meet its production quota, used the facility to augment production efficiency or exploration.
Source:The Guardian
August 08, 2024 09:39 UTC
Lasers deliver powerful shocking punch in material experiments
Credit: Ji-In Jung/StanfordShock experiments are widely used to understand the mechanical and electronic properties of matter under extreme conditions, like planetary impacts by meteorites. However, after the shock occurs, a clear description of the post-shock thermal state and its impacts on material properties is still lacking. A shock wave is a large-amplitude mechanical wave across which pressure, density, particle velocity, temperature and other material properties change abruptly as the wave travels through the material. The shock compression process is thermodynamically irreversible, where a substantial portion of the energy in a shock wave goes into raising the entropy and temperature of the material. The high post-shock temperatures may induce phase transformation of materials during shock release."
Source:Punch
August 08, 2024 08:32 UTC
#EndBadGovernance protests: Present demands peacefully to FG, IHRC urges protesters
The International Human Rights Commission (IHRC) has called on the organisers of the #EndbadGovernanceProtest in the country to present their demands in a civil, peaceful, and orderly manner to the federal government. This was even as it commended the federal government for acknowledging citizens’ constitutional right to protest against bad governance. “Let me use this opportunity to commend the Nigerian President for embracing international best practices and recognising protest as a fundamental human right enshrined in the constitution,” he said. The IHRC Ambassador described protest as a fundamental human right, emphasising its importance in holding leaders accountable. Malami also advised the Nigerian President to heed the concerns of Nigerian youths and citizens, advocating for fundamental reforms to address pressing issues.
Source:Nigerian Tribune
August 08, 2024 06:44 UTC
Niger: Police parade 23 suspects over violent protest in Tafa
No fewer than 23 suspected criminals who were said to have been involved in violent protests and rioting were arrested by police operatives in the Tafa Local Government Area of Niger State on Thursday, August 1, 2024. They were paraded before the newsmen by the Commissioner of Police, Niger State Command, CP Shawulu Ebenezer Danmamman, at the premises of the State Police Command Headquarters in Minna, the state capital, on Wednesday, August 7, 2024. Unfortunately, on the same date, at about 1000 hrs, some miscreants from the Tafa area of Kagarko LGA in Kaduna State and the Sabon-Wuse Tafa and Hayin-Dikko Gurara areas of Niger State were said to have mobilised and stormed the Tafa LGA Secretariat of Niger State located along the Abuja-Kaduna motorway in Sabon-Wuse, Tafa LGA of Niger State. The police and other security agencies responded to the scene, and a total of twenty-three (23) suspects were arrested with different dangerous weapons. Also paraded before the newsmen were Ibrahim Nuhu, aged 18, Abdulrahman Abubakar, aged 18, both of Hayin-Dikko, Gurara LGA, Niger State, and Saifullahi Usman, aged 24, of the Kano/Komboso area of Kano State.
Source:Nigerian Tribune
August 07, 2024 23:24 UTC
Bangladesh: Nobel Peace Prize winner, Yunus, to lead interim government
Nobel laureate Muhammad Yunus, a longtime political foe of Bangladesh’s ousted prime minister Sheikh Hasina has been named the country’s interim leader. The 84-year-old was appointed a day after Hasina fled the country following weeks of deadly protests that brought her resignation. Students who led the mass protests that unseated Hasina refused to accept a military-led government and pushed for Yunus to lead the interim administration. The decision to name Yunus as chief adviser of the interim government followed a meeting between President Mohammed Shahabuddin, military leaders and student leaders. In 1983, he started Grameen Bank, which offers micro, long-term loans to help poor people start small businesses – a concept that has since taken off around the world.
Source:Nigerian Tribune
August 07, 2024 19:14 UTC
7 most technologically advanced countries in the World
Here are some of the most technologically advanced countries in the world, known for their significant contributions to various tech fields. Home to Silicon Valley, the epicenter of tech innovation, and it boasts of companies like Apple, Google, and Microsoft. JapanJapan is synonymous with technological innovation. Germany also excels in renewable energy and industrial automation, contributing significantly to global tech advancements. These technologically advanced countries in the world are shaping the future through innovation and development.
Source:Nigerian Tribune
August 07, 2024 18:33 UTC
Soldiers destroy illegal oil refining sites in Rivers, Bayelsa
The Nigerian Army said its troops have destroyed several illegal refining sites in Rivers and Bayelsa States respectively. It said the destruction was done during an operation by troops of the Land Component, Joint Task Force, South-South, Operation Delta Safe. The statement partly read, “In the operations that ensued, troops identified several illegal refining sites in Rivers and Bayelsa States, where several discoveries were made. “In Rivers State, troops of Sector 3, Land Component, Joint Task Force, South-South Operation Delta Safe, following credible intelligence identified and successfully destroyed three illegal refining sites at Odagwa in Etche Local Government Area. ” Other Items recovered at the illegal refining site include One Fibre Boat, Five Ovens, several metal drums as well as massive reservoirs used as storage facilities for this illegal venture.”
Source:Punch
August 07, 2024 17:27 UTC
NNPCL Probe: Ugochinyere pledges loyalty to Reps leadership, debunks $1.7m bribe
Ugochinyere, who chairs the House Committee on Downstream Petroleum, dismissed the claims as "a low-quality Hollywood movie" concocted by oil thieves and their agents to smear the House and its committees. He reiterated his respect for Speaker Tajudeen Abbas and Deputy Speaker Benjamin Kalu, accusing vested interests in the oil sector of fabricating the allegations to divert attention from systemic corruption. "The whole noise and kindergarten-manufactured fake stories will not stop the commitment to seek transparency and efficiency," he said. Ugochinyere backs oil probeSupporting the House leadership's decision to reconstitute the joint committee investigating the oil sector, Ugochinyere expressed confidence that the investigation would uncover the corruption without any escape route for those involved. Ugochinyere also praised Speaker Abbas's and Deputy Speaker Kalu's inclusive administration, crediting them with the House's stability and collaborative environment.
Source:The Guardian
August 07, 2024 16:26 UTC
July inflation rate rises to 4.4%, expected to stabilize
“Pansamantala lamang ang pagtaas ng inflation rate nitong Hulyo dahil sa tinatawag nating base effect sa presyo ng bigas. Food inflation accelerated due to faster price increases in meat and fruits, although rice inflation remained high. The BSP projects that inflation will stabilize and follow a downward trend starting in August. These include reduced rice tariffs, expected to lower retail rice prices as more imports augment local supply. “Inflation rate is expected to stabilize and fall within target for the rest of the year as the impact of government interventions, particularly the reduced rice tariffs, will be more pronounced starting this August,” he noted.
Source:The Guardian
August 07, 2024 16:26 UTC
At 58, God has given me a second chance
At a point, he told me that if we didn’t act fast, my enlarged prostate might begin to affect my kidney. One of them had, in fact, quietly told my family that my chance of survival was 50-50. “Is this illness also going to separate me from my God in my last days?” I lamented to my wife. Why would a Nigerian need tonnes of money and powerful friends to stand a chance of surviving a medical challenge in our country? I give thanks to the Almighty Allah who has given me a second lease of life out of his infinite mercy, not necessarily because I deserve it.
Source:Punch
August 07, 2024 16:26 UTC
A tale of two protests – two official responses
The protests eventually forced President William Ruto to withdraw the offending legislation and dissolve his entire cabinet. At the time of this writing, protests are ongoing in Bangladesh, India and Venezuela, as well as in Nigeria and the United Kingdom. However, a key element in the maintenance of this critical balance is the behaviour (and especially the utterances) of political leaders. “It’s not (a) protest,” Starmer declared. Perhaps – as we have seen in the respective responses of the Nigerian and UK leaders to the current crises – it is time for the West to lecture less and listen more.
Source:The Guardian
August 07, 2024 14:15 UTC
Programme to empower budding entrepreneurs — Technology — The Guardian Nigeria News – Nigeria and World News
World Yunus urges Bangladeshis to 'get ready to build the country' 4 mins ago Bangladesh's Muhammad Yunus, who is set to lead an interim government after the premier was ousted, called for calm and urged people to use the opportunity to build a better nation. Dauda Lawal’s kitchenware as it was wrongfully circulated in the social media. The State Commissioner for Budget and Economic Planning, Abdulmalik Gajam, at a media briefing on Tuesday in Gusau described the information as mischievous. Amusan finished first in the women’s 100m hurdles heat which has now led to praises from different quarters. Amusan, running on lane nine has thus qualified for the semi-finals of the… FacebookTwitterWhatsAppTelegram
Source:The Guardian
August 07, 2024 13:24 UTC
Theater Review | ‘Cabaret’ Packs a Powerful Punch
Like many fans of the dramatic arts, seeing PCPA’s production of Cabaret, running at Solvang Festival Theatre through August 25, was not my first (or fifth, or 15th) visit to the Kit Kat Klub. PCPA’s Cabaret, however, features several noteworthy choices that gives their show a distinctive personality. Speaking of Sally Bowles: Six out of five stars for Olson, whose final number, the titular song, is the most diva-on-the-verge-of-a-breakdown rendition I’ve ever seen, all while maintaining incredible vocal power. There’s much to enjoy in PCPA’s production, so if you love Cabaret, leave your troubles outside, because in the Solvang Festival Theatre, life is beautiful! See Cabaret at the Solvang Festival Theatre through August 25, pcpa.org.
Source:Punch
August 07, 2024 08:48 UTC
Violent Protests: We’ll hunt down enemies of Nigeria, vows CDS
The Chief of Defence Staff (CDS), General Christopher Musa, has said that security forces would hunt down enemies of the country. General Musa spoke while presiding over a press briefing of Superintendents of security agencies in the country. According to him, the joint press briefing meeting shows the respect and love security agencies have for the country. The only people we are after are the enemies of the state who should be ready to face the law. We remain professional, and men on the field will remain professional as well.
Source:The Guardian
August 07, 2024 00:11 UTC
Reps reaffirm commitment to ensure success of student loan scheme
The House of Representatives reaffirmed its commitment to overseeing and supporting the Nigerian Education Loan Fund (NELFUND) following the commencement of monthly stipend disbursements to eligible students. NELFUND is also working to expand its payment process to include students from approximately 55 additional tertiary institutions in the near future. Gboyega Isiaka (APC-Ogun), Chairman of the House Committee on Student Loan, Scholarship, and Higher Education Financing, praised the operationalization of NELFUND, calling it a significant advancement in educational support. Plans include expanding NELFUND to 16 additional state-owned tertiary institutions, increasing the total to 86. Institutions yet to submit complete student data are urged to do so to ensure their students can access the program.
Source:Nigerian Tribune
August 06, 2024 22:31 UTC