Good Evening. Here is today’s News Brief from The Matrix:
1. Appeal Court Overturns 2024 Budget Passed by Edison-Ehie Group in Rivers State
The Court of Appeal in Abuja has affirmed the judgment of the Federal High Court which set aside the N800 billion budget passed by five members of the Rivers State House of Assembly led by the Edison Ehie-led group.
The appellate court rejected the appeal submitted by Rivers State Governor Siminalayi Fubara, ruling that it lacked merit.
The court further says that the situation in Rivers State House of Assembly is an executive dictatorship by the Governor and a joke taken too far.
2. Court Dismisses MAN’s Lawsuit Against Electricity Tariff Increase
The Manufacturers Association of Nigeria (MAN) suffered a setback in its legal challenge against the implementation of the Band A electricity tariff review as Federal High Court in Lagos dismissed the case, ruling that it was premature and an abuse of the court process.
The Nigerian Electricity Regulatory Commission (NERC) announced the court’s decision on Thursday, stating that the judgment was delivered on Monday.
3. Lagos State Government Begs Youths To Join Military For National Security
In light of a shortage of security personnel, the Lagos State Government has called on its youth to actively participate in the ongoing military recruitment exercise to bolster national security efforts.
Bimbola Salu-Hundeyin, Secretary to the State Government, made this plea during a quarterly meeting in Ikeja with the Chairman and members of the Police Community Relations Committee (PCRC). She expressed concern over the low turnout of local youths during recent military recruitment drives.
4. There Shouldn’t Be Election” – Rotimi Amaechi Fumes Over Nigerians’ Silence
Former Minister of Transportation, Rotimi Amaechi, has expressed frustration over the public’s lack of action despite the worsening economic crisis.
The former minister during an interview hosted on ABN TV, criticized Nigerians for not being vocal enough about the rising cost of living and the inability to afford basic needs like fuel.
5. Hundreds Of Nigerians Return From Niger Republic, Receive Aid In Lagos
A total of 111 Nigerians have returned to Lagos from Niger Republic, following a voluntary evacuation coordinated by the International Organization for Migration (IOM) in partnership with the Nigerian government.
The returnees, which included adults and children, arrived at the Murtala Muhammed International Airport Cargo Terminal on October 8, 2024.
6. IPMAN Demands N15bn Refund From NNPC Following Petrol Deregulation
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has called on the Nigerian National Petroleum Company Limited (NNPCL) to refund N15 billion after the full deregulation of petrol pricing.
This demand follows NNPC’s withdrawal as the sole off-taker of petrol from Dangote Refinery.
7. FG Denies Involvement In Petrol Price, Blame Global Market Force
Despite the much awaited Naira for Crue Initiative, the Nigerian National Petroleum Company Limited (NNPCL) on Wednesday increased the pump price of petrol across various regions, with prices rising from N897 to N1,030 per litre in Abuja, from N855 to N998 in Lagos, N1,070 in the North-East, N1,025 in other South-West states, N1,045 in the South-East, and N1,075 in the South-South.
8. Sulaiman Declares Suspension Subjudice, Urges Lagos Government To Halt Actions
Embattled Alimosho Local Government Chairman, Jelili Sulaiman, has formally notified the Lagos State Government that his suspension by the State Assembly is subjudice and should not be enforced.
In a statement issued by his lawyer, Dr. Abdul Mahmud of Levite Solicitors and Arbitrators, Sulaiman called for adherence to due process and respect for the judiciary, noting that a case concerning the matter is currently before the Federal High Court, Abuja.
9.N294bn Funding Gap; CBN, BoI, DBN Pledge to Empower Women Entrepreneurs
The Central Bank of Nigeria, (CBN) Bank of Industry, (BOI) and Development Bank of Nigeria (DBN) have declared their commitment to the Women Entrepreneurs Finance Code.
This initiative is geared towards tackling the substantial N294bn funding gap currently affecting women-owned and women-led micro, small, and medium enterprises in Nigeria.
