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December 18, 2023 Simon Lalong Quits FEC, to Resume at Senate
IFMUYONEWS

Simon Lalong Quits FEC, to Resume at Senate

The immediate Governor of Plateau State and Minister of Labour and Employment Simon Lalong has left President Bola Ahmed Tinubu’s cabinet, over the weekend to take the Plateau South Senatorial seat which he won.

He is due to be sworn in this week by Senate President Godswill Akpabio.

Lalong, the Director-General of the Tinubu Campaign Organisation in the rundown to the February Presidential poll, was declared loser of the election by the Independent National Electoral Commission (INEC).

He challenged the result, and victory was given to him by the Court of Appeal

Lalong, a lawyer and two-term Speaker of Plateau State House of Assembly, tendered his resignation after Wednesday’s FEC meeting, in preparation for resumption at the Red Chamber of the National Assembly.

A presidential aide Imran Muhammad in his X handle last night wrote “President Tinubu has accepted Minister of Labour and Employment, Simon Lalong’s resignation from the cabinet. His valedictory will hold at the next FEC meeting.”

Also the spokesman for APC in Plateau State, Sylvanus Namang also confirmed Lalong’s resignation from FEC.

Lalong received his Certificate of Return last month.

The Court of Appeal ordered the electoral commission to issue him the certificate of return, following the nullification of the election of Air Vice Marshall Napoleon Bali of the Peoples Democratic Party (PDP), who has now vacated the seat.

Lalong was accompanied to the INEC Headquarters by his wife, Regina, and children as well as former Deputy Speaker of House of Representatives Idris Wase; member representing QuanPan, Shendam, Mikang Federal Constituency John Dafaan; APC Deputy National Secretary Festus Fuanter; Minority leader of Plateau House of Assembly Joe Bukar and some members of the Plateau Assembly; former Majority Leader Naalong; some former Plateau Commissioners; former Head of Service Sunday Hyat, some serving local government chairmen and other supporters.

Also last month, the President and other party leaders held consultations with Lalong after he received the certificate of return on his replacement in FEC.

At the meeting, he was given an opportunity to recommend four names as possible replacement in FEC.

Party leaders also believe that his experience as a two-term House of Assembly Speaker will come in handy as he will unofficially enjoy the status of a ranking senator.

December 15, 2023 Inflation and Exchange Rate to Improve in 2024
IFMUYONEWS

Inflation and Exchange Rate to Improve in 2024

Central Bank of Nigeria (CBN) has reassured Nigerians that the soaring inflation and exchange rates would drastically reduce in 2024. The apex bank expects less revenue from oil exports in the fiscal year, just as it puts the total trade from Nigerian Foreign Exchange Market (NFEM) at N18.804 billion in the third quarter of this year.

The CBN governor, Olayemi Cardoso, gave the assurance and breakdown when he appeared before the National Assembly Joint Committee on Banking, Insurance and other Financial Institutions in Abuja.

He told the lawmakers that the outlook for the domestic economy next year was very positive, as both the inflation and exchange rates would withstand fluctuating pressures, and stabilise thereafter.

Cardoso explained that unification of the exchange rate windows in June this year has ushered in a new approach to management geared at reducing arbitrage, rent-seeking behaviour and speculation in the market.

He added that due to prevailing factors, less revenue would be earned from oil exports in 2024. His words: “We expect less revenue from oil exports due to the production limit of 1.78mbpd in 2024. OPEC approved quota for Nigeria is 1.8mbpd, which is higher than the 2024 budget assumption.

“However, the country’s production has been below these thresholds. The budget benchmark for 2023 was 1.69mbpd, but the highest level of production during the year was about 1.35mbpd in Q3 of 2023.

“The reasons for the underperformance of the oil production target include crude oil theft and pipeline vandalisation, production shut-ins and divestments by major oil companies.”

December 15, 2023 Rivers Political Crisis Deepens as 6 Commissioner Resign
IFMUYONEWS

Rivers Political Crisis Deepens as 6 Commissioner Resign

The Rivers State political crisis deepened further on Thursday as six commissioners loyal to ex-governor Nyesom Wike resigned from the cabinet of Governor Siminalayi Fubara.

This was as the two factions of the split state House of Assembly held separate sittings on Thursday.

The commissioners, who tendered their resignation were the Attorney General and Commissioner for Justice,  Prof. Zacchaeus Adangor (SAN); Commissioner for Works, Dr Des George-Kelly; Commissioner for Special Duties, Emeka Woke; Commissioner for Social Welfare and Rehabilitation, Mrs Inime Aguma;  the Commissioner for Finance, Isaac Kamalu; and the  Commissioner for Education, Prof. Chinedu Mmom.

Of the six commissioners, five served under Wike’s administration in the same capacity, while Woke was Wike’s Chief of Staff for eight years.

There are reports of more resignations that can not be confirmed yet, but the next few days surely will be more interesting in Rivers State.

December 14, 2023 Presidency Approves Leadership Changes in The Aviation and Aerospace Development Sector
IFMUYONEWS

Presidency Approves Leadership Changes in The Aviation and Aerospace Development Sector

President Bola Ahmed Tinubu on Wednesday, sacked the heads of various agencies in the aviation sector, replacing them with acting and substantive heads.

They include Mr. Kabir Mohammed of the Federal Airports Authority of Nigeria; Mr. Tayib Odunowo of the Nigerian Airspace Management Agency; Akinola Olateru of the Nigerian Safety Investigation Bureau; Prof. Mansur Matazu of the Nigerian Meteorological Agency; and Alkali Modibbo, the Rector of the Nigerian College of Aviation Technology.

He also suspended the Director-General of the Nigeria Civil Aviation Authority, Captain Musa Nuhu “to enable the Economic and Financial Crimes Commission to conduct an unfettered investigation into the activities of the suspended Director-General and other senior officials in the Nigeria Civil Aviation Authority,” a statement signed by Tinubu’s Special Adviser on Media and Publicity, Ajuri Ngelale, revealed Wednesday night.

The statement is titled ‘President Tinubu approves leadership changes in the Aviation and Aerospace Development Sector.’

Consequently, the President appointed Mrs. Olubunmi Kuku as the substantive Managing Director of FAAN; Umar Farouk as the substantive Managing Director of NAMA; son of former Chief of Air Staff, Mr. Alex Badeh Jr. as the substantive Director-General of the NSIB.

Tinubu also named Prof. Charles Anosike as the substantive Director-General of NiMET, Mr. Joseph Imalighwe as the Acting Rector of NCAT, as Mr Chris Najomo assumes office as the Acting Director-General of the NCAA immediately.

Furthermore, he approved the commencement of the process—to be conducted by the Minister of Aviation and Aerospace Development, Festus Keyamo—to recruit a substantive Vice-Chancellor and other principal officers of the African Aviation and Aerospace University.

The move is “In line with the President’s determination to bring world class standards to Nigerian Civil Aviation in consumer protection and the promotion of the wellbeing of Nigerian passengers and other sectoral stakeholders,” said Ngelale.

The president said he anticipates that the new leadership across the aviation sector will uphold the safety, convenience and comfort of Nigerians people as primary and sacrosanct in all of their administrative activities.

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