BREAKING! President Tinubu Approves Establishment Of New Campanies To Reduce Food And Drug Prices. See More....

President Bola Tinubu has announced the creation of a National Credit Guarantee Company to help lower the prices of food and essential drugs in Nigeria.

The president revealed this in his 2025 New Year message seen by Hipnotik Global Concept. 

The company, starting by mid-2025, will make it easier for businesses to get loans and produce more goods locally.

This plan involves working with groups like the Bank of Industry and private companies.

The goal is to reduce risks for businesses, increase local production, and make food and medicine more affordable for Nigerians.

This move is part of the government’s efforts to ease the cost of living, reduce inflation, and support small businesses and young people.

Tinubu said; “In this new year, my administration will further consolidate and increase access to credit for individuals and critical sectors of the economy to boost national economic output.

“To achieve this, the federal government will establish the National Credit Guarantee Company to expand risk-sharing instruments for financial institutions and enterprises.

“The Company—expected to start operations before the end of the second quarter—is a partnership of government institutions, such as the Bank of Industry, Nigerian Consumer Credit Corporation, the Nigerian Sovereign Investment Agency, and Ministry of Finance Incorporated, the private sector, and multilateral institutions.

“This initiative will strengthen the confidence of the financial system, expand credit access, and support under-served groups such as women and youth. It will drive growth, re-industrialisation, and better living standards for our people.”

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JUST IN: FG Names New Owners Of Oil Wells In Nigeria. Read More...

 

The Federal Government has announced the new winners of Petroleum Prospecting Licenses (PPLs) in Nigeria, effectively naming new potential owners of oil resources in the country.

The winners were announced at the commercial bid conference in Lagos on Wednesday, December 18, 2024.

The new winners include SIFAX & RoyalGate Consortium, which won PPL 300-DO; OceanGate Engineering Oil and Gas Ltd won PPL 302-DO and PPL 3007; Homeland Integrated is the winner of PPL 304-DO; Hakilat Oil & Gas Consortium Ltd trounced the NNPC E&P to clinch PPL 305-DO; and BISWAL Oil & Gas Ltd, which also defeated the NNPC E&P to win PPL 306-DO.

According to The Nation, MRS Oil and Gas defeated NNPC E&P to win the PPL 303-DO. Also, Petroli Energy Marketing and Supply Limited received licencing for PPL. Others include Sahara Deepwater Resources Ltd, which won PPL 270 and PPL 271; Panout Oil & Gas beat TotalEnergies and three other bidders to secure PPL 300/301 CS. Panout also claimed PPL 3015.

Additionally, TotalEnergies E&P won PPL 2000/2001. As only bidders, BISWAL emerger winners of PPL 2002; First E&P won PPL 2003 and PPL 2006; Deywayles International Limited got PPL 2004; Applefield Oil & Gas received licensing for PPL 2005; R28 Holdings Ltd became winners of PPL 2007 and PPL 3011; Tulcan Energy E&P won PPL 2008 and 3012; Broron Energy secured PPL 2009; Hakilat Oil & Gas received PPL 3016; and Applefield Oil & Gas won PPL 3017 as winners.

Gbenga Komolafe, the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), said another oil licensing bid round will occur next year.

He disclosed that the 2025 exercise would be devoted to unexplored assets.

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BREAKING! Dangote Refinery reduces fuel price. See Details...

 

The Dangote Refinery has reduced the price of petrol to N899.50 per litre, providing much-needed relief for Nigerians during the festive season.

This marks a major cut from the previous price of N970 per litre announced in November.

In addition to the price reduction, the refinery has introduced a special holiday offer aimed at easing transportation costs.

Anthony Chiejina, the Group Chief Branding and Communications Officer of Dangote Group, in a statement made available to Hipnotik Global Concept  announced that consumers can purchase an extra litre of fuel on credit for every litre bought with cash.

The credit offer is secured through a bank guarantee.

“To alleviate transport costs during this holiday season, Dangote Refinery is offering a holiday discount on PMS. From today, our petrol will be available at N899.50 per litre at our truck loading gantry or SPM. Furthermore, for every litre purchased on a cash basis, consumers will have the opportunity to buy another litre on credit,” Chiejina said.

The refinery also expressed its gratitude to Nigerians for their continued support and reaffirmed its commitment to providing high-quality, environmentally friendly fuel at competitive prices.

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BREAKING! CBN Announces Daily Withdrawal Limit For POS. Read More....

The Central Bank of Nigeria (CBN) has imposed a daily cap of N100,000 on withdrawals made through Point-of-Sale (POS) terminals.

This move is part of efforts to promote a cashless economy and curb fraudulent activities in the banking system.

In a circular addressed to banks, mobile money operators, and other financial agents, the CBN outlined guidelines to standardize operations.

Weekly withdrawals per customer are restricted to N500,000, while each agent’s total daily cash-out limit cannot exceed N1.2 million.

Additionally, agents must clearly separate banking services from merchant activities and comply with strict reporting protocols.

The CBN warned that violations of these rules would result in penalties, including monetary fines and administrative sanctions.

The bank also plans to conduct random checks to ensure compliance with the new directives.

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IGP Bans Phone Searches, Harassment Of Nigerian Youths. Read More...

The Inspector-General of Police, IGP Kayode Egbetokun, has issued a directive prohibiting arbitrary arrests, harassment of youths, and the checking of mobile phones by Police officers nationwide.

A document, signed by the Department of Operations at the Force Headquarters, warned that officers and their supervisors who violate the directives will face serious consequences.

Titled “Order and Directives: Arbitrary Arrest and Detention”, the document emphasized that harassment of youths, seizure of phones and unnecessary detentions at checkpoints must stop immediately.

It also highlighted that Command commissioners and supervisors will be held responsible for any infractions, with monitoring units established to ensure compliance.

The announcement follows recent accusations by UK Conservative Party leader Kemi Badenoch, who publicly criticized the Nigerian Police for corruption and alleged that officers used their firearms to steal from citizens.

Badenoch claimed that Police officers stole her brother’s shoe and wristwatch, reigniting discussions about misconduct within law enforcement in Nigeria.

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Nigeria Gets First Female Navy Aircraft Pilot. Read More...

 

Lieutenant Changfe Maigari has made history by becoming the first female pilot in the Nigerian Navy (NN), a milestone that marks a significant achievement since the Navy’s establishment in 1964.

Maigari, a married woman with a daughter, is from Langtang North Local Government Area of Plateau State, although she was born in Kaduna.

Her remarkable journey began in 2016 when she graduated from the Nigerian Defence Academy (NDA) and was commissioned as a Sub Lieutenant. She later served aboard the Nigerian Navy Ship Unity.

On Friday, Maigari was awarded the prestigious ‘Pilot Wing’ at the 2024 Nigerian Navy Ceremonial Sunset, held at the Naval Training Command Headquarters in Ebube-Eleme, Rivers State.

In an interview following the event, Maigari shared that her achievement was the result of completing basic pilot training and meeting all the necessary requirements.

“I grew up in a military family, as my father was an officer in the Nigerian Air Force. From a young age, I aspired to become a military pilot, and when the chance to join the Navy came, I seized it without hesitation,” she said.

Maigari reflected on her time at the Nigerian Defence Academy, where she was part of the first group of 20 female cadets.

She graduated in 2016 as the Best Graduating Cadet in Academics and earned the Gold Medal Navy award.

In 2019, she completed her Sub Lieutenant Technical Course as the overall best.

Despite facing challenges during her training, Maigari’s perseverance saw her through.

“Becoming the first female pilot in the Nigerian Navy is a dream come true, and I hope my success serves as an inspiration for my fellow women in the military and young girls aspiring to join the Navy,” she added.

She thanked her family, colleagues, and God for their unwavering support throughout her career.

At the ceremony, Vice Admiral Emmanuel Ogalla, the Chief of Naval Staff, presented Maigari with her award.

At the ceremony, Vice Admiral Emmanuel Ogalla, the Chief of Naval Staff, presented Maigari with her award.

Ogalla highlighted the success of Operation Delta Sanity, which curtailed maritime crimes and boosted Nigeria’s crude oil production.

He also mentioned the establishment of new naval bases in Enugu and Makurdi, as well as the operationalization of the Shagunu outpost.

The Navy also saw significant advancements in fleet recapitalization, including the acquisition of new patrol boats and helicopters.

Governor Siminalayi Fubara of Rivers State also praised the Navy’s efforts in tackling illegal activities in the maritime environment, particularly oil theft and illegal bunkering.

He acknowledged the challenges posed by criminal activities and reaffirmed the Rivers Government’s continued support for the Navy’s operations.

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Alaafin’s Ex-Wife Queen Dami Dumps Portable. Read More...

 

Queen Damilola, the ex-wife of the late Alaafin of Oyo, Oba Lamidi Adeyemi III, has publicly announced the end of her relationship with popular Nigerian musician, Habeeb Okikiola, also known as Portable.

The relationship, which had been riddled with tension, reportedly reached its breaking point over issues including unequal treatment and public embarrassment.

Queen Dami in a video she released on social media, expressed dissatisfaction with the way Portable allegedly lavished his wife with luxuries, including multiple cars, while she was left using motorcycles (Okada) for her movements.

Taking to her Instagram page on Thursday, Queen Dami announced her decision to leave the relationship.

She wrote, “Alihamdulilahi, I’m done. This is too much for me; I can’t take this embarrassment. Ire oo.”

The fallout comes shortly after an online spat between the two. On Wednesday night, Queen Dami went live on Instagram and invited Portable to join the session.

However, the singer’s response shocked many viewers. He rebuked her, saying, “What are you doing online? You are someone’s wife and should not be online doing nonsense.”

The exchange, which Queen Dami had seemingly hoped to steer into a playful interaction, ended abruptly, leaving her visibly embarrassed.

This public breakup marks the end of a short-lived yet controversial romance that drew significant attention online.

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