Good Morning. Here’s a recap of top trending news stories this morning.
1. President Bola Tinubu has instructed his ministers to present their performance reports to the public ahead of his one-year anniversary in office. Minister of Information and National Orientation, Mohammed Idris, announced at a press briefing in Abuja that the low-key celebration will feature sectoral media briefings by the 47 federal ministers, starting on Thursday.
2. The Federal Government spent N628.61 billion on electricity subsidies in 2023, while power distribution companies collected a total of N1.08 trillion in revenue, according to data from the Nigerian Electricity Regulatory Commission. Subsidies increased each quarter, with N36.02 billion in the first quarter, N135.23 billion in the second, N204.6 billion in the third, and N252.76 billion in the fourth. During the same periods, power distribution companies earned N247.09 billion, N267.86 billion, N267.61 billion, and N294.95 billion, respectively.
3. The Kogi State Government has directed the immediate commencement of construction at the proposed 1000-unit housing estate as part of the Renewed Hope Housing Project (RHHP) in the state. Governor Usman Ododo gave this directive during a meeting with the Federal Housing Authority (FHA) management, led by Managing Director Oyetunde Ojo, during their working visit to Lokoja, the state capital, on Wednesday.
4. The Nigerian Civil Aviation Authority (NCAA) has warned Turkish Airlines of potential sanctions under its regulations for mistreating Nigerian passengers. Mr. Michael Achimugu, the Director of Public Affairs and Consumer Protection at NCAA, made this statement to journalists in Lagos on Wednesday. He emphasized that President Bola Tinubu had instructed NCAA, the Federal Airports Authority of Nigeria (FAAN), and other relevant agencies to safeguard the rights of Nigerian passengers at all times.
5. The tripartite committee on the new minimum wage has postponed further discussions to next Tuesday, May 28, following another deadlocked meeting on Wednesday in Abuja. The Federal Government, the organized private sector, and organized labor could not agree on the new minimum wage. Initially, the government maintained its proposal of N54,000, citing a lack of funds. However, after a 30-minute break for further deliberations, the government increased its offer to N57,000.
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6. After two years in detention, the Federal High Court in Abuja has granted bail to Abba Kyari, a former Commander of the Intelligence Response Team of the Nigeria police, to enable him to attend his mother’s funeral rites in Borno State. Kyari and his co-defendants face eight charges, including conspiracy, illegal dealing in cocaine, importation of cocaine, and obstruction. Previously, the trial judge, Emeka Nwite, denied bail twice, citing insufficient reasons.
7. The House of Representatives has urged the Federal Government to renovate and convert its abandoned buildings and forfeited land, both locally and abroad, for public use. The motion, moved by Iyawe Esosa of Oredo Federal Constituency, highlighted that some government agencies operate from rented offices despite the availability of numerous abandoned properties across the country.
8. The Central Bank of Nigeria (CBN) has issued new operational guidelines for Bureau De Change (BDC) operators, requiring them to reapply for new licenses and meet new minimum capital requirements within six months. The guidelines establish two categories of BDCs: Tier 1, with a minimum capital requirement of N2 billion, and Tier 2, with N500 million.
9. The Lagos State Attorney General and Commissioner for Justice, Lawal Pedro, SAN, has revealed that correctional and custodial centers in the State are overstretched by 104 percent. The seven centers currently house 9,691 inmates, despite having a capacity for only 4,757.
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10. Following heavy rainfall, a two-storey building in the Aguda-Surulere area of Lagos State partially collapsed on Wednesday. The collapse, which occurred at 70, Adetola Street, affected the front side of the building. Authorities have cordoned off the area to prevent further incidents, and the Lagos State Emergency Management Agency (LASEMA) is conducting a post-disaster assessment of the scene.