All Posts in "admin"

CMDs blame budget cuts as Reps faults teaching hospitals over poor research funding

Chief Medical Directors (CMDs) of federal tertiary health institutions have attributed poor funding for medical research to budgetary constraints and repeated cuts during the budgeting process, as the House of Representatives criticised teaching hospitals for allocating less than one per cent of their budgets to research.

Speaking on behalf of the Committee of Chief Medical Directors, the Secretary of the committee and Chief Medical Director of the Jos University Teaching Hospital, Prof. Pokop Bupwatda, told lawmakers that although research is usually captured in hospital budget proposals, the allocation is often removed before final approval.

Bupwatda said limited funding has weakened the capacity of teaching hospitals to carry out meaningful research, despite their statutory mandate as centres of medical innovation and training.

He called for increased funding for the health sector to enable the recruitment of qualified manpower and improved staff welfare, warning that poor conditions of service have worsened the ongoing “japa syndrome” among medical professionals.

According to him, many federal hospitals are critically understaffed, particularly with medical doctors, and even when approvals are granted to recruit, few doctors apply. He added that despite these challenges, existing personnel have continued to provide quality healthcare services and deserve commendation.

Bupwatda also raised concerns over operational challenges facing tertiary health institutions, including the release of only about 30 per cent of the 2025 budget to federal teaching hospitals and medical centres, a development he said has constrained service delivery despite efforts by the House to improve budgetary allocations.

He identified power supply as a major financial burden, noting that hospitals spend huge sums on electricity due to the need for constant power to run critical equipment. According to him, federal hospitals currently operate under Band A electricity tariffs, further increasing costs alongside the expense of running generators.

However, the House of Representatives faulted the CMDs for failing to prioritise research during budget preparations. The Chairman of the House Committee on Health Institutions, Dr Patrick Umoh, said teaching hospitals had allocated less than one per cent of their budgets to research and had not consistently pushed for improved research funding.

Umoh expressed disappointment that many teaching hospitals now operate like general hospitals, rather than research-driven institutions, warning that the neglect of research undermines the country’s health system.

“Teaching hospitals are supposed to be centres of research. You have never raised the issue of lack of funding for research, but you talk more about infrastructure. That makes you part of the problem,” he said.

He added that the COVID-19 pandemic exposed the sector’s poor research preparedness, noting that none of the hospitals visited during oversight functions had showcased functional research centres.

admin by — February 11, 2026 in News 0
Police disburse N29.6m to families of deceased officers in Sokoto

Sokoto State Police Command has disbursed N29.6 million in Group Life Assurance benefits to families of officers who died or sustained serious injuries in the line of duty.

The cheques, totalling N29,638,584.78, were presented to 10 beneficiaries on Tuesday.

The presentation was carried out on behalf of the Commissioner of Police, Ahmad Musa, by the Deputy Commissioner of Police in charge of Finance and Administration, Umar Sokoto, alongside members of the command’s management team.

Umar said the payment was part of the Nigeria Police Force’s Group Life Assurance Scheme aimed at providing financial support to families of deceased officers.

He urged the beneficiaries to make prudent use of the funds to support their households.

Speaking on behalf of the beneficiaries, Mrs Hamimatu Ahmad, widow of one of the deceased officers, expressed appreciation to the police authorities for the intervention.

The command said the disbursement forms part of ongoing welfare efforts for personnel and families of officers who died in active service.

admin by — February 11, 2026 in News 0
Suspected kidnappers arrested in Kwara community

Scores of suspected kidnappers were arrested Tuesday evening at Olayinka along Ajasepo/Igbaja/Oke-Ode highway in Ifelodun Local Government Area of Kwara State, DAILY POST reports.

The suspects allegedly fled Baba Sango after intelligence revealed that bandits’ informants were posing as beggars and roaming towns and villages across Kwara South Senatorial District.

Coordinator, Joint Security Watch Kwara South Senatorial District, Zubair Olaitan, confirmed the development to DAILY POST on Wednesday.

The arrest is part of the ongoing efforts by security operatives to combat crime in Kwara state.

“We got intelligence that bandits from Baba Sango and Oro-Ago are spreading out to other parts of Kwara South.

“One of their informants, disguised as a beggar, was caught in Igbaja yesterday.

“He spilled that his sponsors are operating from Kaara Market, Ajasepo, and Olayinka near Oke-Ode. He’s been handed over to Anti-Kidnapping Squad, AKS. Time for swift action,” Olaitan said.

admin by — February 11, 2026 in News 0
FG pledges extra funding to launch Africa Energy Bank

Heineken LokpobiriThe Federal Government has said it is ready to provide additional funding to the Africa Energy Bank to ensure its takeoff, following delays by some African countries in meeting their capital subscription commitments.

The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, disclosed this on Tuesday at the 2026 Sub-Saharan Africa International Petroleum Exhibition and Conference in Lagos.

Despite Nigeria already contributing 70 per cent of the bank’s capital, Lokpobiri said the country is prepared to cover the remaining funding gap should other African nations fail to fulfil their obligations.

In 2024, President Bola Tinubu approved a $100m investment for a class A share in the bank, positioning Nigeria favourably to host the multilateral $5bn Africa Energy Bank, which will finance energy projects across the continent.

“Africa’s problem, largely, is access to capital. That’s why the African Petroleum Producers Organisation came up with the idea of an African energy bank,” Lokpobiri said.

He noted that Nigeria had earned the trust of other African nations to host the bank’s headquarters and had fulfilled all its responsibilities as the host country. The headquarters was handed over to the African Petroleum Producers Organisation and Afrexim Bank in Abuja last week.

“We’ve handed the headquarters over to them, and we have given them a timeline within which the bank has to be launched. Nigeria, as the host country, has obligations, and we have met all obligations,” he said.

The minister added that during a meeting with African counterparts in Abuja on Monday, Nigeria offered to raise the remaining balance of the minimum capital if delays persisted.

“When my colleagues in Africa came to Abuja, and we had a meeting on Monday, I told them that if they are going to delay raising the balance of the minimum capital needed, Nigeria will raise it so the bank can take off, and they were very excited,” Lokpobiri said.

Drawing a parallel with the African Export-Import Bank, he explained that it was not unusual for a few countries to shoulder the initial funding burden for continental financial institutions.

“When Afrexim Bank started, not all countries raised their capital at the same time. A few countries had to raise the capital, and the bank started. Today, the bank is huge,” he said.

Lokpobiri stressed that the Africa Energy Bank must commence operations without further delay to support oil and gas financing across Africa.

“This specialised bank needs to take off without any further delay so that we will be able to raise the funding needed. If we have to solve Africa’s energy problem, the solution is raising capital to finance Africa’s oil and gas projects,” he said.

The minister also accused countries in the global North of using financing as a tool to undermine Africa’s energy ambitions, insisting that the continent must develop homegrown solutions.

“The global North has always used financing as a weapon against the continent, and this is the time for us to find a homegrown solution to our financing problem,” he said.

He further disclosed that investors from the Middle East and other regions had shown interest in the bank and would commit funds once operations begin.

“There are people ready from the Middle East, from Saudi Arabia, from everywhere; when the bank takes off, they will also invest capital to finance projects in Africa,” Lokpobiri said.

As SAIPEC marked its 10th edition, Lokpobiri urged the Petroleum Technology Association of Nigeria to set targets for the next decade and assured them of the Federal Government’s support. He stressed the need to reduce the cost of oil production, noting that Nigeria’s cost per barrel remains among the highest globally.

In his address, PETAN Chairman Wole Ogunsanya said Africa’s energy future must be defined by Africans for Africans.

“Over 600 million Africans still lack access to electricity, and industrial growth is constrained by energy deficits. For us, energy transition is not about abandoning hydrocarbons; it is about leveraging our resources responsibly to drive development, while gradually integrating cleaner and renewable solutions,” he said.

admin by — February 11, 2026 in Business 0
Dangote cuts fuel price, explores new Burundi investments

Dangote Petroleum Refinery has reduced its Premium Motor Spirit (petrol) gantry price by N25 per litre, lowering the ex-depot rate from N799 to N774 per litre in what industry analysts describe as a strategic recalibration amid evolving market dynamics in 2026.

The refinery communicated the price adjustment to marketers on Tuesday, as it also announced plans for a new business investment in Burundi. The refinery stated that the new PMS price takes immediate effect.

In a notice issued by its Group Commercial Operations Department, Dangote Petroleum Refinery and Petrochemicals FZE stated, “This is to notify you of a change in our PMS gantry price from N799 per litre to N774 per litre.”

Checks by The PUNCH on petroleumprice.ng confirmed that the revised price had already been reflected on industry pricing platforms.

The refinery also informed marketers that its PMS lifting incentive had ended. “Additionally, please note that the PMS lifting bonus ended at 12:00 a.m. on 10th February 2026. The corresponding credit for volumes loaded from 2nd to 10th February 2026, within the stipulated volume thresholds earlier communicated, will be posted to your account statement. Thank you for your continued partnership,” the notice read.

Industry analysts say the closure of the bonus window, alongside the price cut, signals a shift from volume-driven incentives to a more stable pricing regime as the refinery consolidates its domestic market presence.

The latest reduction comes against a backdrop of volatile PMS pricing in 2025, following the full deregulation of the downstream sector and the removal of petrol subsidies.

Prices fluctuated sharply due to exchange rate pressures, global crude oil movements, and reliance on imported fuel, with ex-depot rates ranging between N700 and over N800 per litre. The commencement of large-scale domestic supply from the Dangote refinery late in the year helped moderate prices, particularly along coastal and southern supply corridors.

In early 2026, Dangote’s PMS gantry price had increased to N799 per litre after selling to Nigerians at N699 during the festive period. The latest N25 cut to N774 per litre suggests easing cost pressures, improving operational efficiency, and growing competition from alternative supply channels, including imported cargoes and expected output from modular refineries.

Dangote Petroleum Refinery, with a capacity of 650,000 barrels per day, is Africa’s largest single-train refinery and a cornerstone of Nigeria’s drive to reduce fuel imports and conserve foreign exchange. Since commencing PMS supply to the domestic market, the refinery has increasingly shaped downstream pricing dynamics, often acting as a reference point for ex-depot rates.

In a separate development, the President of the Dangote Group, Aliko Dangote, is planning a new business investment in Burundi. He visited the East African country with former President Olusegun Obasanjo to explore investment opportunities and cement plans for expanding the group’s presence across the continent.

In a statement, the Dangote Group said the visit included high-level talks with Burundian President Evariste Ndayishimiye at the presidential palace. Dangote described the mission as both diplomatic and economic in scope, noting that two dedicated technical teams—one representing Burundi and the other the Dangote Group—have been constituted to identify priority sectors and develop viable investment projects.

“Our focus really is investing heavily in the African continent, not anywhere else, and so Burundi is part and parcel of that African region,” Dangote reportedly said. He highlighted strong potential in solid minerals, power generation, agriculture, cement production, and infrastructure development, emphasising the goal of building a mutually beneficial partnership that drives shared prosperity.

The statement added that discussions centred on strategic cooperation in infrastructure, logistics, industrialisation, and energy—areas that Burundi considers essential to its long-term economic transformation. The engagement aligns with the country’s broader ambition to attract large-scale private sector investment and strengthen ties with leading African industrial players.

Observers widely view the engagement as a landmark moment, positioning Burundi as a credible destination for African mega-investors and integrating the country more firmly into Dangote’s continental expansion strategy.

Together, the PMS price reduction and the Burundi investment initiative illustrate Dangote’s dual focus: consolidating domestic market influence while actively pursuing strategic continental growth opportunities.

admin by — February 11, 2026 in Business 0
CBN approves $150,000 weekly FX sales to BDCs

CBN Governor, Olayemi Cardoso. Photo: CBN / XThe Central Bank of Nigeria has approved the participation of licensed Bureau De Change operators in the Nigerian Foreign Exchange Market, allowing each BDC to purchase up to $150,000 weekly, according to a circular issued by the apex bank on Tuesday.

The directive, dated February 10, 2026, was contained in a circular signed by the Director of the Trade and Exchange Department, Dr Musa Nakorji, and addressed to authorised dealer banks and the general public.

This move is expected to narrow the gap between official and parallel market rates, which widened by over N90 for the first time in three years.

In the circular, the Central Bank of Nigeria said the move was aimed at improving foreign exchange liquidity in the retail segment of the market and meeting the legitimate needs of end users.

“To ensure the availability of adequate foreign exchange liquidity in the retail segment of the foreign exchange market to meet the legitimate needs of end users, this is to inform market participants that all BDCs that are duly licensed by the CBN are allowed to access foreign exchange from the NFEM through any Authorised Dealer of their choice, at the prevailing exchange rate,” the bank stated.

The apex bank added that authorised dealer banks must carry out full Know-Your-Customer and due diligence checks on BDC clients before selling foreign exchange to them.

“Authorised dealers are required to complete the necessary KYC and due diligence for their BDC clients in line with applicable regulations and the internal risk management framework,” the circular read.

It explained that upon completion of these requirements, foreign exchange could be sold to BDCs strictly in line with existing operational rules, but subject to a weekly limit.

“Upon completion of these requirements, foreign exchange may be sold to BDCs for utilisation in line with the existing BDC Guidelines, subject to a maximum of USD150,000 per week for each BDC,” the CBN said.

The bank also imposed strict reporting and transparency requirements, directing that “all licensed BDCs shall ensure the timely and accurate submission of returns to the Central Bank electronically, and in accordance with extant regulations.”

To prevent hoarding and speculative positions, the CBN warned that BDCs must not retain unutilised foreign exchange purchased from the market.

“Any unutilised balances are expected to be sold back to the market within 24 hours,” the circular stated, adding that “BDCs are not permitted to keep funds purchased from NFEM in their positions.”

The apex bank further tightened settlement rules, mandating that all foreign exchange transactions by BDCs be routed through settlement accounts with licensed financial institutions.

“Settlement of foreign exchange transactions by BDCs with Authorised Dealers and/or with end user customers shall be conducted exclusively through settlement accounts held with licensed financial institutions,” it said.

It also barred third-party transactions and limited cash settlement, noting that “third-party transactions are prohibited, and settlement of foreign exchange sales in cash is limited to a maximum of 25 per cent of each transaction amount.”

The CBN stressed that existing BDC guidelines would continue to apply to all transactions, signalling a blend of wider market access and strict regulatory oversight as it seeks to stabilise and deepen the foreign exchange market.

Earlier in October 2025, The PUNCH reported that the President of the Association of Bureau De Change Operators of Nigeria, Aminu Gwadebe, raised concerns about the hardship that BDC operators face in accessing dollars for their operations.

In a chat with PUNCH Online, Gwadebe said that following the CBN’s suspension of dollar sales to BDCs, operators have to rely on walk-in customers to obtain dollars.

Earlier in 2025, PUNCH Online also reported that the CBN issued new guidelines restricting Bureau de Change operators to purchasing a maximum of $25,000 per week from a single authorised dealer bank as part of efforts to regulate the retail foreign exchange market and enhance transparency. However, with the suspension, they have not been able to source dollars from banks.

admin by — February 11, 2026 in Business 0
FAAN, Cargo Agents End Tariff Talks, Fix MMIA Port Charge at ₦15/kg

The Federal Airports Authority of Nigeria (FAAN) has reached a consensus with Customs Licensed Cargo Agents operating at the Murtala Muhammed International Airport (MMIA), Lagos, on the review of cargo port charges, ending weeks of consultations with a mutually acceptable tariff.
The agreement was sealed at a stakeholders’ meeting held on Monday  February 9, 2026, at the MMIA Terminal 2 Conference Room. The session was chaired by the Director of Cargo Development and Services, Mr. Lekan Thomas, and brought together key operators in the airport cargo value chain.
After extensive and constructive deliberations, both parties agreed on a revised port charge of ₦15 per kilogramme, a compromise between FAAN’s earlier proposal of ₦20/kg and the existing ₦7/kg. The new rate represents a balanced upward adjustment designed to support infrastructure growth while easing the burden on cargo operators.
FAAN said the resolution underscores the spirit of dialogue, partnership and shared responsibility between the Authority and industry stakeholders.
According to FAAN, the agreement will enhance the ease of doing business at MMIA and strengthen the sustainability of airport and cargo terminal infrastructure. The Authority reaffirmed its commitment to continuous stakeholder engagement, adherence to its SEDI principles — Safety, Efficiency, Development and Innovation , and the ongoing modernisation of cargo handling facilities across the airport system.
FAAN also commended the cooperation and professionalism of the Customs Licensed Cargo Agents, expressing optimism that sustained collaboration will further advance Nigeria’s air cargo sector and improve service delivery at the nation’s premier gateway.
The Authority assured stakeholders of its readiness to keep working closely with operators to build a more efficient, competitive and business-friendly air cargo environment at MMIA and beyond.
admin by — February 11, 2026 in Business 0
CVR: INEC denies alleged underage voter registration in Osun

The Independent National Electoral Commission, INEC, Osun State, has dismissed allegations circulating on social media that underage persons were registered as voters in Ede North Local Government Area.

The allegation, shared on Facebook, claimed that schoolchildren dressed in uniforms were registered at the INEC Local Government Office in Ede North on Friday, February 6, 2026.

In a statement by the Resident Electoral Commissioner, Mutiu Agboke, and issued by Musa Olurode, the Public Affairs Officer, on Monday in Osogbo, INEC Osun described the claim as false and misleading.

It also stressed that no underage person was registered at the office on the said date.

INEC confirmed that some students of YTD Grammar School, Ojoro, Ede, arrived at the Ede North office in school uniforms with the intention of registering.

According to the Commission, officials on duty denied the students access to the premises in line with existing laws and guidelines governing voter registration.

“The Electoral Officer and other officials, acting in strict compliance with the law, refused them entry into the office premises. Consequently, no underage person was registered,” the statement said.

INEC reiterated that “only Nigerian citizens who have attained the age of 18 years are eligible for voter registration, in accordance with the 1999 Constitution, as amended, and the Electoral Act, 2022.”

The Commission added that its officials had been clearly instructed to enforce the age requirement without exception across the state.

INEC further assured residents that the Osun State office, under the leadership of the Resident Electoral Commissioner, Dr Mutiu Agboke, would not “engage in, condone or permit any action capable of compromising the credibility and integrity of the voter registration process.”

The Commission urged members of the public to disregard the social media post and rely on information from official INEC communication channels.

The electoral umpire also called on parents, school authorities and community leaders to sensitise young persons on the legal requirements for voter registration.

admin by — February 10, 2026 in News 0
ADC: There won’t be zoning in presidential primaries — El-Rufai

Former Kaduna State Governor, Nasir El-Rufai, has declared that the African Democratic Congress (ADC) will not adopt zoning or any form of consensus arrangement in its presidential primary ahead of the next general elections.

Speaking on Trust Tv, El-Rufai said the party is committed to conducting free, fair, and transparent primaries, where all aspirants will be given equal opportunity to contest without pressure, imposition, or forced withdrawal.

El-Rufai disclosed that the ADC leadership is currently working on its manifesto and policy platform, while also engaging prospective presidential, governorship, and other aspirants to build internal unity ahead of the primaries.

“At the top level, we are preparing our manifesto and our platform. We are also working on getting our presidential aspirants, governorship aspirants, and other aspirants to come together and agree on a process that will guarantee free and fair primaries,” he said.

According to him, the party has resolved that no zoning arrangement will be applied and that no aspirant will be compelled to step down in favour of another.

“There will be no zoning, no consensus, and no forcing anyone to step down. Everyone will be given the opportunity to contest, and whoever wins will be supported by all,” El-Rufai stated.

He also dismissed claims that the ADC lacks grassroots support, insisting that the party’s growing influence is evident across the country.

“If you don’t think the ADC has grassroots support, ask some members of the National Assembly to go to their constituencies without gathering soldiers and police to guard them,” he added.

admin by — February 10, 2026 in News 0
RTEAN Chairman condemns ejection of widow, children after driver’s death

The  Chairman of Road Transport Employees Association of Nigeria, RTEAN, Abia State chapter, Nnamdi Balogu has condemned the alleged ejection of an Abia widow, Mrs Calista Chigozie and her four children from home, by her late husband’s relative.

According to the Abia RTEAN Chairman, Mrs Calista Chigozie and four kids  were ejected from their home by her late husband’s relative following the death of her husband, Mr. Chigozie Ikechukwu in a fatal road accident.

The Abia RTEAN Chairman, Balogu, who was reacting to the alleged maltreatment of the widow and her children, said he was taking steps to build a house for the woman and her children.

He recalled how the husband of Mrs Calista, Chigozie Ikechukwu a bus driver died in accident along Enugu-Port Harcourt Road in November, 2025 and buried in January, 2026 at his hometown, Avodim, Ubakala in Umuahia South LGA of Abia State.

Balogu said: “The Union shares in the pain of the bereaved and would not watch the right of the widow and her children to be violated.

“Chigozie who died from the injuries he sustained at the accident that happened in November 2025 was a dedicated driver.”

admin by — February 10, 2026 in News 0