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Are you passionate about real estate and ready to excel in a dynamic market? We’re looking for marketers in Abuja with m...
16/12/2024

Are you passionate about real estate and ready to excel in a dynamic market? We’re looking for marketers in Abuja with market insight and a drive to succeed.

Commission-based role

Send your CV to [email protected]

The Supreme Court has dismissed the lawsuit filed by Ambrose Owuru, the presidential candidate from the Hope Democratic ...
16/12/2024

The Supreme Court has dismissed the lawsuit filed by Ambrose Owuru, the presidential candidate from the Hope Democratic Party, seeking to remove President Tinubu from office. The court also issued a fine of N5 million.

In addition to the N5 million penalty, the supreme court has instructed its Registry to reject any further frivolous originating summons from Owuru.

STATE HOUSE PRESS RELEASEPRESIDENT TINUBU CELEBRATES SHELL AND PARTNERS' $5 BILLION DEEPWATER INVESTMENT AS MILESTONE FO...
16/12/2024

STATE HOUSE PRESS RELEASE

PRESIDENT TINUBU CELEBRATES SHELL AND PARTNERS' $5 BILLION DEEPWATER INVESTMENT AS MILESTONE FOR NIGERIA'S ENERGY SECTOR

President Bola Ahmed Tinubu welcomes Shell and its partners' announcement today of the Final Investment Decision (FID) on the Bonga North Deep Offshore Field. This landmark development, Nigeria's first deepwater oil project in over a decade, underscores the transformative impact of the President's policies and reforms in attracting investments in the oil and gas sector.

The Bonga North oilfield, located 130 kilometres offshore in Oil Mining Lease (OML) 118, represents an impressive estimated $5 billion investment and is expected to yield approximately 350 million barrels of crude oil. Shell holds the largest operational interest, with 55%. Its other partners are the Nigerian National Petroleum Corporation (NNPC), ExxonMobil, TotalEnergies, and Eni.

The FID signals renewed confidence in Nigeria's energy sector and demonstrates the effectiveness of the Tinubu administration's strategic focus on engendering a robust and competitive investment climate.

President Tinubu remarked: "The Renewed Hope Agenda fundamentally focuses on attracting investments to transform the Nigerian economy and deliver prosperity to our people. We designed our policies and reforms from the start of my administration to achieve this goal. Shell and its partners' decision to invest in Bonga North affirms the success of our efforts. We will continue to offer the necessary support to ensure their success and the realisation of Nigeria's energy potential."

President Tinubu's strategic engagement with global energy stakeholders has been instrumental in this renewed wave of investments.

In July 2023, at the first of several high-level meetings with Shell's global leadership, President Tinubu declared, "We are open for business and serious about creating a stable, predictable, and investor-friendly environment."

Presidential Directives issued in early 2024 reinforced this commitment by fast-tracking regulatory approvals, reducing operational costs, and introducing competitive fiscal incentives.

The Bonga North project is the second of the blueprint projects President Bola Ahmed Tinubu selected to drive the implementation of the transformative Presidential Directives 40, 41, and 42 issued in the first quarter of 2024.

These directives, aimed at enhancing regulatory clarity, accelerating project timelines, and incentivising investment in Nigeria's energy sector, have yielded remarkable results. Earlier this year, the Ubeta oilfield (OML 58), the first blueprint project under this initiative, achieved a Final Investment Decision (FID) through a partnership between TotalEnergies and NNPC Limited. Dormant since its discovery in 1965, the Ubeta project will produce 350 million standard cubic feet of gas per day, bolstering domestic supply and expanding Nigeria's presence in the global energy market.

With both blueprint projects now achieving FID, the success of these initiatives underscores the effectiveness of the President's strategic vision for Nigeria's energy future.

Ms Olu Arowolo Verheijen, Special Adviser to the President on Energy, commented on the Bonga North milestone: "The Bonga North FID dispels the misconceptions about International Oil Companies leaving Nigeria. Instead, we are witnessing a strategic pivot of IOCs-powered capital and technical capacity to deepwater and integrated gas projects, which align with President Tinubu's vision of transforming Nigeria into a global energy hub. The divestments from onshore operations create opportunities for local oil and gas companies to expand and thrive, building a strong foundation for Nigeria's energy future."

16/12/2024

Please LIKE and FOLLOW News Kogi ...
Invite your friends too 🙏🙏🙏

A*o Rock Villa. Abia State b. Government...
16/12/2024

A*o Rock Villa. Abia State b. Government house

Out of the 36 governors, 32 have put forward a combined proposal of ₦21.9 trillion in the 2025 budget submitted to their...
16/12/2024

Out of the 36 governors, 32 have put forward a combined proposal of ₦21.9 trillion in the 2025 budget submitted to their respective state assemblies, which is 31 percent higher than the 2024 budgets that amounted to ₦16.15 trillion.

South West: N6.15Tr

North West: N3.78Tr

South South: N3.68Tr

North Central: N3.18Tr

South East: N2.72Tr

North East: 2.38Tr

Recurrent spending: N13.74Tr

Capital spending: N7.42Tr

Top 3 States:
Lagos: 3Tr
Niger: 1.2Tr
Ogun: 1.05

Least 3 States:
Yobe: N320.8bn
Gombe: N320.1bn
Adamawa: N268.8bn

The budgets for the states of Imo, Kebbi, Kwara, and Rivers have yet to be announced.

Just in 💥💥💥
15/12/2024

Just in 💥💥💥

15/12/2024

Goooooooalllllll

Man City 1:2 Man United

15/12/2024

Hi fellow Kogites..., tonight we will be sharing the pictures of all the 36 states government house building on our timeline.

Peter Obi, Sanwo Olu and other dignitaries at an event
15/12/2024

Peter Obi, Sanwo Olu and other dignitaries at an event

15/12/2024

Tragedy 💥
20 people reportedly drowned when a wooden boat capsized near Ocholonya in Agatu Local Government Area of Benue State on Saturday.

15/12/2024

Good Morning Fellow Kogites...,
As you are about to start the activities of the day, may Almighty God guide and protect you. Amen

Ministry of Works 💥💥💥Check comments for more details::::
15/12/2024

Ministry of Works 💥💥💥

Check comments for more details::::

Foreign News 💥 💥 💥 China aims to commercialize 6G by 2030, with standard-setting expected by 2025.
15/12/2024

Foreign News 💥 💥 💥

China aims to commercialize 6G by 2030, with standard-setting expected by 2025.

Dogora 💥💥💥Details in the comment section::::
15/12/2024

Dogora 💥💥💥

Details in the comment section::::

Abia Airport: Deputy Speaker Kalu Praises President Tinubu and the Federal Government for Focusing on the Development of...
14/12/2024

Abia Airport: Deputy Speaker Kalu Praises President Tinubu and the Federal Government for Focusing on the Development of the South-East.

Kalu specifically recognized the Federal Government's initiative in starting the construction of Abia Airport, which is scheduled to begin next Tuesday.

In statement issued by Levinus Nwabughiogu, Chief Press Secretary to the Deputy Speaker, House of Representatives.

The statement read: “Kalu said that the Abia Airport project is a testament to the Federal Government's commitment to bridging the infrastructure gap in the region.

“He noted that the project will not only boost economic activities in Abia State but also enhance connectivity and facilitate trade across the South East.

“Kalu's commendation comes on the heels of Governor Alex Otti's clarification during the December edition of his monthly media briefing that the Abia Airport is a federal government project, with the state government providing necessary support.

“It will be recalled that Kalu who represents Bende Federal Constituency of Abia State facilitated the project from the federal government and later shared the idea with the Governor who indicated interest and agreed to upgrade it to a full-fledged airport instead of an airstrip earlier conceptualized.

“Revealing that the Governor has invited him to the groundbreaking on Tuesday, Kalu lauded the synergy that exists between the State and the Federal Government through the elected representatives.

“Regretting that he will not be available for the event due to the presentation of 2025 national budget scheduled the same day, Kalu assured however Governor Otti who noted his reason as extremely cogent that as the Deputy Speaker of the national parliament, he will continue to attract people-oriented projects due to Abia.

“He expressed gratitude to President Tinubu for his interest in developing the South East region, particularly with the approval of the construction of the airport and the creation of the South East Development Commission (SEDC) for the region which came in quick succession.

“The Deputy Speaker assured that the pprojects will contribute to the President's economic plans, aiming to address Nigeria's economic challenges and infrastructure deficits.

FEDERAL MINISTRY OF FINANCE, ABUJA.PRESS RELEASE: FG, STATES, LGCs SHARE N1.727 TRILLION FROM A GROSS TOTAL OF N3.143 TR...
14/12/2024

FEDERAL MINISTRY OF FINANCE, ABUJA.

PRESS RELEASE:

FG, STATES, LGCs SHARE N1.727 TRILLION FROM A GROSS TOTAL OF N3.143 TRILLION FOR THE MONTH OF NOVEMBER 2024

The Federation Account Allocation Committee (FAAC), at its December 2024 meeting chaired by the Honourable Minister of Finance and the Coordinating Minister of the Economy, Wale Edun, shared a total sum of N1.727 Trillion to the three tiers of government as Federation Allocation for the month of November, 2024 from a gross total of N3.143 Trillion.

From the stated amount inclusive of Gross Statutory Revenue, Value Added Tax (VAT), Electronic Money Transfer Levy (EMTL), Exchange Difference (ED), the Federal Government received N581.856 Billion, the States received N549.792 Billion, the Local Government Councils got N402.553 Billion, while the Oil Producing States received N193.291 Billion as Derivation, (13% of Mineral Revenue).

The sum of N103.307 Billion was given for the cost of collection, while N1.312 Trillion was allocated for Transfers Intervention and Refunds.

The Communique issued by the Federation Account Allocation Committee (FAAC) at the end of the meeting indicated that the Gross Revenue available from the Value Added Tax (VAT) for the month of November 2024, was N628.972 Billion as against N668.291 Billion distributed in the preceding month, resulting in a decreased of N39.318 Billion.

From that amount, the sum of N25.159 Billion was allocated for the cost of collection and the sum of N18.114 Billion given for Transfers, Intervention and Refunds. The remaining sum of N628.973 Billion was distributed to the three tiers of government, of which the Federal Government got N87.855 Billion, the States received N292.850 Billion and Local Government Councils got N204.995 Billion.

Accordingly, the Gross Statutory Revenue of N1.827 Trillion received for the month was higher than the sum of N1.336 Trillion received in the previous month by N490.339 Billion. From the stated amount, the sum of N77.521 Billion was allocated for the cost of collection and a total sum of N1.294 Trillion for Transfers, Intervention and Refunds.

The remaining balance of N455.354 Billion was distributed as follows to the three tiers of government: Federal Government got the sum of N175.690 Billion, States received N89.113 Billion, the sum of N68.702 Billion was allocated to LGCs and N121.849 Billion was given to Derivation Revenue (13% Mineral producing States).

Also, the sum of N15.046 Billion from Electronic Money Transfer Levy (EMTL) was distributed to the three (3) tiers of government as follows: the Federal Government received N2.257 Billion, States got N7.523 Billion, Local Government Councils received N5.266 Billion, while N0. 0627 Billion was allocated for Cost of Collection.

The Communique also disclosed the sum of N671.392 Billion from Exchange Difference, which was shared as follows: Federal Government received N316.054 Billion, States got N160.306 Billion, the sum of N123.590 Billion was allocated to Local Government Councils, N71.442 Billion was given for Derivation (13% of Mineral Revenue).

Oil and Gas Royalty and CET levies recorded significant increases, while Excise Duty, Value Added Tax (VAT), Import Duty, Petroleum Profit Tax (PPT) and Companies Income Tax (CIT), Electronic Money Transfer Levy ( EMTL), decreased considerably.

According to the Communique, the total revenue distributable for the current month of November 2024, was drawn from Statutory Revenue of N455.354 Billion, Value Added Tax (VAT) of N585.700 Billion, N15.046 Billion from Electronic Money Transfer Levy (EMTL), and N671.392 Billion from Exchange Difference, bringing the total distributable amount for the month to N1.727 Trillion.

Signed
Mohammed Manga FCIA
Director, Information and Public Relations
December 13, 2024.

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President Bola Ahmed Tinubu attends Jumah Prayer and Wedding Fathia of the children of Senator Barau Jibril (cfr) Deputy President of the 10th Senate and his Highness Nasiru Ado Bayero (ofr) former Emir of Kano

Senator Ireti Kingibe and Senator Akpabio had a disagreement over a motion concerning the demolition of Paul OSA Ogbeboh Estate in Abuja. The conflict emerged when Akpabio noted that this motion was not listed on the order paper for the day, prompting Sen. Kingibe to leave the chamber in protest.

Senator Natasha Uduaghan from Kogi Central has urged the Senate President to intervene and stop the demolition of Paul OSA Ogbeboh Estate in Abuja, conducted by minister of FCT Wike. The Senate will consider the complete motion and its requests today, Thursday, December 12, 2024.

President Bola Ahmed Tinubu of Nigeria and President Frank-Walter Steinmeier of the Federal Republic of Germany address members of the press after a productive bilateral meeting between both delegations

A Bill to amend the Compulsory Free Education for children in primary and junior secondary schools, as well as to increase the funding for Compulsory Free Universal Education in Nigeria from 2% to 5% of the Consolidated Revenue Fund, has passed its second reading in the Senate.

The Senate is currently holding a valedictory session for Edo State Governor Monday Okpebholo as he bids farewell to the Senate.

The Speaker of the House of Representatives has formally announced the vacancy of the Ovia North-East/Ovia South-West federal constituency seat, following Dennis Idahosa's inauguration as the Deputy Governor of Edo State.

FCT Minister Nyesom Wike welcomed Frank-Walter Steinmeier, the President of Germany, upon his arrival in Nigeria.

“There is a component of it that talks about derivation and, if we are to go by that, definitely it is going to affect some of the states in terms of what kind of inflows they have and invariably it may make it difficult for some states to be able to pay their salaries.” - Zamfara State Governor, Dauda Lawal on Tax reform bills.

The Senate is advocating for a requirement that 30% of raw materials be processed locally prior to export. The Senate is putting forward a proposal to amend the Raw Materials Development Council Act, aiming to ensure that a minimum of 30 percent of raw materials undergo local processing before being exported. The amendment bill seeks to foster innovation in local industries, generate new job opportunities, and decrease reliance on imports. The proposed legislation aims to enhance the value of local industries while safeguarding them from foreign competition. After the debate, the bill has passed its second reading.

Vice President Senator Kashim Shettima has told Kemi Badenoch, the leader of the Labour Party in the UK, that even if she were to remove "Kemi" from her name, it would not change the fact that Nigeria remains the greatest black nation on earth.

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