President Tinubu Celebrates Wahid Oshodi’s Unanimous Election as ATTF President

President Bola Tinubu has expressed immense pride in Wahid Oshodi’s election as the President of the African Table Tennis Federation (ATTF). Oshodi was unanimously elected during the 2024 Annual General Meeting held in Addis Ababa, Ethiopia, on Tuesday, October 15, marking a historic achievement for both Nigeria and the African table tennis community.

Nominated by the Nigeria Table Tennis Federation, Oshodi garnered the support of several other African nations, leading to his election as ATTF president.

In a statement from Tinubu’s media aide, Bayo Onanuga, the president praised Oshodi’s accomplishment, highlighting the strong backing he received from Nigeria and other African countries.

Tinubu noted Oshodi’s steadfast commitment to grassroots table tennis development in Nigeria, along with his exemplary integrity, accountability, and dedication to sports administration. He emphasized that Oshodi’s election serves as a vote of confidence in his leadership and acknowledges his significant contributions to the sport.

Furthermore, President Tinubu expressed confidence in Oshodi’s capacity to utilize his extensive leadership experience to enhance the ATTF and promote the growth of table tennis across Africa. Oshodi is the second Nigerian to assume the role of ATTF president.

Kano Parents Demand Justice for Detained #EndBadGovernance Protesters

In a heartfelt demonstration at the Kano State House of Assembly, parents of youths arrested during the recent #EndBadGovernance protests have called for immediate justice and the release of their children. Mallam Nura Ahmad, representing the concerned parents, revealed that around 70 young protesters were apprehended and transferred to Abuja, where they are reportedly enduring harsh conditions.

The #EndBadGovernance protests, which unfolded from August 1 to August 10 across Nigeria, expressed widespread public frustration over economic challenges and hardships under President Bola Tinubu’s administration.

Concerned for their children’s welfare, Ahmad described the inhumane treatment faced by the detainees, stating that they have been denied basic hygiene facilities and are surviving on just one meal per day. Efforts to secure bail for the detained youths have been met with significant hurdles, leaving parents increasingly desperate for action.

Fatima Yusuf Umar, a mother of one of the detainees, shared that during their last conversation, her son recounted distressing experiences, noting he was struggling with his vision due to mistreatment in custody.

In response to the parents’ concerns, the Majority Leader of the Kano State Assembly assured them that the House would intervene to expedite bail for the detainees. He also called on the Attorney General and Minister of Justice to ensure the detainees’ rights are respected and to facilitate their prompt release.

NNPCL Denies Petrol Price Agreement With IPMAN, Insists on Market-Driven Pricing

The Nigerian National Petroleum Company Limited (NNPCL) has refuted claims of reaching a price agreement for Premium Motor Spirit (PMS), commonly known as petrol, with the Independent Petroleum Marketers Association of Nigeria (IPMAN) or any other stakeholders. This clarification follows a statement made by IPMAN President, Abubakar Maigandi, suggesting that NNPCL had agreed to reduce the ex-depot price of petrol from ₦958 per litre to ₦955 per litre.

NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye, dismissed these claims, stating, “There is no price agreement between IPMAN, NNPC, or any marketer. The market forces determine prices under the current deregulated regime.”

Soneye further explained that the NNPCL had provided a one-time ₦3 discount to marketers with pre-deposited funds to ease fuel distribution and avoid shortages, clarifying that this was a temporary measure and did not imply a fixed price arrangement.

NNPCL reaffirmed its stance that petrol prices are driven by market dynamics, not by agreements with any parties. Meanwhile, IPMAN also confirmed that NNPCL has begun refunding the ₦15 billion owed to its members.

Oyedepo Warns Critics to ‘Be Quiet’ Over Church Leadership Retirements

Bishop David Oyedepo, founder of the Living Faith Church (Winners Chapel), has issued a strong warning to those criticizing the church’s leadership over the recent retirement of its bishops. This comes after the announcement that Bishops Thomas Aremu and David Abioye, both long-serving vice presidents, would retire after decades of ministry.

The retirements align with the church’s operational guidelines, known as The Mandate, which recently revised the retirement age from 60 to 55. While Oyedepo holds the right to serve for life, future leaders will be limited to one or two seven-year terms, pending approval from the Board of Trustees.

Addressing the criticisms during a valedictory service for Bishop Aremu, Oyedepo advised critics to stay silent and focus on their own affairs, stating that those wishing for the church’s downfall were “wasting their lives.”

Oyedepo emphasized that the church’s policies have been guided by divine order, with its Administrative Policy of 1998 revised in 2001, and The Mandate of 2012 updated in 2024. He encouraged Bishop Aremu to remain focused on his spiritual journey and to ignore baseless criticisms.

Quoting Genesis 49:26, Oyedepo reminded his audience that “no one has an inheritance in a teacher or pastor,” urging Aremu to stay connected to God for continued grace and growth.

Okpella Monarch: Obaseki Ratified Kingmakers Decision, End 5years leadership Vacuum

By Nasamu Johnson

The recent allegations against Governor Godwin Obaseki’s involvement in the Okpella monarch’s selection process are unfounded and misrepresents the facts. Contrary to claims of politicization, Governor Obaseki acted upon the decision and recommendations of the Kingmakers, who completed the established traditional customs and procedures.

The Kingmakers, representing the entire Okpella community, carried out the required traditions but were unable to select one candidate due to time constraints, and this is in line with the provision of the Edo Chieftaincy Law which provides that Kingmakers can submit a candidate or candidates to the State Executive Council for ratification and subsequent appointment. To meet the deadline, they sent three names to the governor, as agreed upon, with video and written evidence available online.

Saying the whole exercise was politicized is an insult to the notable sons of Okpella who constitute the Kingmakers. There was never a time when Okpella faulted the process of selecting these three candidates, except for a few individuals who felt entitled to the ownership of Okpella and had special candidates who must be installed.

For five years, Okpella Village Heads engaged in numerous meetings with Edo State Governor urging him to act upon the decision reached by the Okpella Council of Kingmakers, by choosing one out of the three candidates as the community needed a king. Governor Obaseki accommodated eventually acceded to this request as the State Executive Council eventually settled on one of the candidates after due diligence was done by officials of the State government.

Since the demise of the late Okuokpellagbe of Okpella, Dr. A.Y.E. Dirisu over five years ago, the community lacked a central point of leadership to address pressing communal issues, kidnapping incidents and boundary crises which requires a King to relate with the government and other key stakeholders.

Today, the state government has appointed Engr. Lukman Akemokue as the Okuokpellagbe of Okpella out of the three names submitted by the Kingmakers. His announcement as the Okuokpellagbe of Okpella received praises and jubilation across Okpella. However in a shocking move, six chiefs (the signatory from Ukhomunyio, Charles Ikhumesomi, is an imposter and not a Chief) out of over 180 village heads and chiefs claim to represent the entire Okpella Traditional Council wrote to reject the appointment perhaps because their preferred candidate out of the three was not announced, thereby inciting the public with propaganda and harassing innocent elders.

Masked individuals, whose identities have been unveiled, were seen at night with security operatives going from house to house arresting innocent village heads and chiefs and spreading fear. The new King’s house, HRH Engr. Lukman Akemokue’s, has been vandalized by these hoodlums.

The community is wise and aware of their underlying motives. The new Okuokpellagbe has forgiven those who wronged him and is ready for peaceful dialogue. His Royal Highness has many issues to solve, and we urge Okpella to join hands with him to move the community forward.

We urge the public to disregard those escalating the crisis. The propaganda aims to stir up crises. Let’s remember that our people’s silence should not be mistaken for weakness. Governor Obaseki’s decision was guided by the community’s interests and the rule of law.

Nasamu Johnson writes in from Okpella

Over 90 Dead, 50 Hospitalized in Jigawa Tanker Explosion

A tragic petrol tanker explosion in Majiya village, Taura local government area of Jigawa State, has claimed the lives of over 90 people, with more than 50 others hospitalized. The incident occurred around 12:30 a.m. on Wednesday when a petrol tanker, en route from Port Harcourt to Nguru in Yobe State, overturned.

According to Jigawa Police spokesman, DSP Lawal Shiisu Adams, villagers began scooping fuel from gutters and drainages after the tanker fell, leading to a catastrophic explosion.

“Today, 95 people have been confirmed dead, and 50 are receiving treatment in the hospital,” Adams stated.

More updates to follow as details emerge.

MTN, Other Multinational Firms Urge FG to Allow Tariff Increases Amid Economic Challenges

MTN Nigeria and other multinational business leaders are appealing to the Federal Government to allow price adjustments in the telecommunications sector to sustain their investments in the country. Speaking at the 30th Nigerian Economic Summit in Abuja, MTN’s Chief Financial Officer, Modupe Kadri, emphasized that telecom companies have been unable to raise their prices for over ten years despite high inflation and fluctuating foreign exchange rates.

Kadri highlighted the disparity between price adjustments in sectors like petroleum and electricity, questioning why similar changes haven’t been permitted for telecoms. He explained that the inability to adjust tariffs has hindered their operations, given that much of the equipment is imported at foreign currency rates.

“For ten years now, telecom companies haven’t been allowed to increase prices,” Kadri stated. “This policy must be reviewed to ensure a level playing field, just like electricity and fuel prices reflect current economic realities.”

He also warned that failing to address these challenges could lead to a decline in the telecommunications sector, which currently contributes 16% to Nigeria’s GDP. Such a decline, Kadri noted, could have a ripple effect on industries like financial services and logistics.

Other industry leaders, including Oyeyimka Adeboye, CEO of Mondelez West Africa (Cadbury), also expressed concerns. Adeboye noted the rising cost of imports and emphasized the need for improved access to financing to boost local production. Courage Obadagbonyi of APM Terminals West Africa and Nkechi Obi of Techno Oil Limited echoed similar sentiments, stressing the importance of regulatory coordination and sound policies for business survival and growth.

Dollar to Naira Black Market Exchange Rate Today, October 16, 2024

As of Tuesday, October 15, 2024, the black market (parallel market) exchange rate for the U.S. dollar to the Nigerian naira was ₦1663 for buying and ₦1670 for selling at the Lagos Parallel Market, according to Bureau De Change (BDC) sources.

Black Market Dollar to Naira Exchange Rate:

  • Buying Rate: ₦1663
  • Selling Rate: ₦1670

CBN Official Exchange Rate:

  • Buying Rate: ₦1602
  • Selling Rate: ₦1603

Please note that rates may vary across different locations, and individuals are advised to approach their banks for Forex transactions, as the Central Bank of Nigeria (CBN) does not recognize the parallel market.

Cooking Gas Prices Surge to ₦1,500/kg Amid Petrol Price Hikes

In addition to rising dollar-to-naira rates, Nigerians are also facing surging prices for Liquefied Petroleum Gas (LPG), or cooking gas, which has hit ₦1,500 per kilogram in some areas of Ogun and Lagos States.

This price hike has heavily impacted consumers, with a 12.5kg cylinder now costing an average of ₦17,000 in Abuja, up from ₦12,000 in July 2024. NIPCO Plc’s Managing Director, Suresh Kumar, expressed hope that local refineries like the Dangote refinery will help reduce LPG prices. Currently, over 60% of Nigeria’s cooking gas is imported, raising concerns about dependency on foreign supply.

In different areas of Abuja, prices vary, with costs ranging from ₦1,300 to ₦1,400 per kilogram.

No National Grid Collapse, Only Line Tripping – Power Minister Clarifies Nationwide Blackout

The Minister of Power, Adebayo Adelabu, has dismissed claims that Nigeria’s national grid collapsed twice within 24 hours, clarifying that the incident was merely a line tripping.

Adelabu explained that what happened was not a full grid collapse, as the major cities of Abuja, Lagos, and Ibadan were unaffected, and the issue was resolved within two hours. “Grid disturbances are a global phenomenon,” the minister said, emphasizing that the rapid response was key.

The Transmission Company of Nigeria (TCN) is investigating the cause of the power grid issues that occurred on both Monday and Tuesday. According to TCN spokesperson Ndidi Mbah, the grid recovery faced a setback on Tuesday but had restored power to 90% of substations nationwide by 10:24 am, with the Abuja region and major load centers regaining power.

However, some areas remained without electricity as of 7 pm on Tuesday. The Ibom Gas generating station in the South-South region continued to supply power during the disturbance, keeping regions like Eket, Uyo, and Itu online. TCN has promised to fully investigate the cause of the incident once the grid is completely restored.

World Bank Lists Naira Among Sub-Saharan Africa’s Worst-Performing Currencies

The Nigerian naira has been ranked as one of the worst-performing currencies in Sub-Saharan Africa for 2024, according to the latest report by the World Bank.

By August 2024, the naira had depreciated by about 43% year-to-date, placing it in the same category as the Ethiopian birr and the South Sudanese pound. This steep decline has been attributed to a high demand for U.S. dollars in Nigeria’s parallel market, combined with limited dollar inflows and slow foreign exchange allocations from the central bank.

The World Bank report highlights that financial institutions and money managers have worsened the strain on the naira by driving up demand for U.S. dollars.

While the Nigerian government has implemented reforms, including the liberalization of the official exchange rate in June 2023, these measures have not been enough to stabilize the currency. Broader economic challenges, such as dwindling foreign reserves and inflationary pressures, continue to impact the naira’s performance.

The currency depreciation has led to higher domestic prices, particularly for imported goods, further straining Nigerian consumers. However, on October 14, the naira showed a brief improvement, appreciating by 5.69% against the dollar, moving from ₦1,641.27/$1 to ₦1,552.92/$1. Despite this, foreign exchange turnover dropped by 44.27% during the same period.

Looking ahead, the World Bank forecasts a 3.3% growth in Nigeria’s economy for 2024, with a slight increase to 3.6% in 2025 and 2026 as reforms take root. However, inflation remains a major concern, particularly following the removal of fuel subsidies in mid-2023, which has tripled gasoline prices and pushed up transportation and logistics costs across the country.